New property hotspot in Ghaziabad

Property in Ghaziabad has ushered good news. The authorities have announced a widening of the 21 kilometer stretch of the National Highway 24 which extends from Dasna to UP Gate. The primary reason for this is the traffic problems that are faced by the residents of Noida and Indirapuram. This news has been a relief for the inhabitants of these cities.

The current status of Ghaziabad is somewhat similar to the rest of India, which is said to be stagnant. The city has numerous projects lined up, but the slowdown of Property Buyers in Ghaziabad has affected the whole real estate scenario in the developing city. This, however, has given a push to the projects that are lined along the National Highway 24 which has resulted in repositioning of many of the projects being locate along NH-24.

NH-24 is one of the busiest highways that connects Lucknow and Delhi overall, but it blocks especially between Hapur and Nizamuddin Bridge. It is said to be a new life for Property in Ghaziabad. The city is a prominent industrial and residential hub. Many people use this highway to travel to and from Delhi whereas on the other hand the highway connects Lucknow and Hapur and is one of the main roads in Uttar Pradesh.

The traffic on this highway has become a problem for the people travelling as well as living in Noida and Ghaziabad especially those who use this road on a daily basis. As per numerous surveys, this stretch has as much as 1.4 lakh passengers using this corridor and these two cities in the NCR has witnessed the major rise of the new residential projects and thus the inflow of new residents in the last five years. As a result, this expansion was much needed and was in demand for long.

The stretch along the National Highway 24 offers various property options. Currently, land parcels are available with different segments from mid and high rise buildings to integrated townships; Ghaziabad properties have numerous options for the buyers to choose from. Also, the prices of Property in Ghaziabad varies by the proximity to the highway as well as the availability or offerings of the local infrastructure.

The location is again heading towards being a promising place for investing in the residential and commercial property in Ghaziabad. The renowned developers are already developing some magnificent projects along the National Highway 24 with a belief of getting real returns in the future.

Noida is Booming Again With Increase in Demand of Realty Market

The real estate market of Noida saw a big uptake since the government minimized the eco-sensitive zone in and around the Okhla bird sanctuary. As per the reports the Residential property in Noida came down by 4.6% since the National Green Tribunal ordered a stop to construction. Since the launch of the project in 2011, the rates of property in Noida appreciated by 60%

The sale of property in Noida fell down drastically in the last two years but the experts believe that the market will recover as soon as the projects are completed. Developers believe that the location will see more residential sales along with the office and retail spaces leasing in the coming months. There is an expectation of residential buyers to pick up demand as the real estate market is opening up again in the area. With reducing interest rates and the focus of the government on the infrastructural developments might bring along food news for the Real Estate Sector in Noida.

The uncertainty on the eco-sensitive zone has made the home buyers wait for possession of their apartments and many possessions on the anvil by the year end. This move will definitely see a rise in the registration of property in Noida which has declined by nearly 30%, year after year.

Many home buyers received a breather when the government approved the reduction of the eco-sensitive area around the Okhla bird sanctuary. There were around 50 residential projects that were impacted by about 50,000 home buyers due to the pending decision of the government.

The environment ministry's bill notification that was issued last year, was cleared by the government, which stated that the eco-sensitive zone would be measured up to 100 meters from the eastern, western and southern borders and up to 1.27 km from the northern borderline of the sanctuary.

The projects were trapped after a tribunal command ordering a stop in the construction in the radius of 10 km from the Okhla bird sanctuary and preventing the authorities from allotting completion certificates within the eco-sensitive zone till the approval from the National Board of Wildlife was found. The tribunal also focused the Centre to define the eco-sensitive zone around the sanctuary after seeing fresh applications from Uttar Pradesh, Haryana and Delhi. After the issue of the notification by the government, the home buyers outside the zonal area will get occupancy certificated for their apartments. There are many renowned developers whose projects were affected by the tribunal orders.

Irrespective of these government orders, Property in Noida is definitely going to get more demands of residential and commercial projects which are said to be affordable and has easy and convenient connectivity to Delhi NCR. Thus, Noida is said to be back with a bang with world class infrastructure to cater to the buyers and investors.

Bangalore to Have Preference Amongst NRIs and HNIs

Bangalore is said to be the best real estate destination amongst the Non-resident Indians and High-Net worth Indians. The central part of the city is said to be on the top list of NRIs and HNIs residential buyers till now. However, there is a shift in the trends as buyers are seen moving towards the suburban areas for investment. The people are specifically opting for the southern part of the city. The southern localities are gaining popularity amongst the buyers as the area has growing urbanization, arrival of service industries and infrastructural advancements has led the area towards the high-ticket size of the real estate market.

According to the reports there is a noticeable hike in supply of luxury homes and ultra-luxury home segments in the region as opposed to the same section that is dropping in the central region. Also, there has been a rapid growth in the infrastructure of the real estate sector in the region. The IT industry is like a cherry on the top. Also, along with the increasing demand by the HNIs and NRIs, the Property in Bangalore is also witnessing healthy demand of premium properties from the top-management professionals of the organizations located here.

Along with this, the government is also taking the initiative for making the real estate sector in the region a profitable deal for the buyers. One amongst all the initiative includes, housing for all by 2022. Though the market needs to stable as this is affecting the number of launch that are taking place in the city as if there is no increase in the sold property, there are expectations of lesser lunches this year as well.

However, the localities in the suburban areas are witnessing a surge in supply of properties. The ultra-luxury houses are also recording significant sale in Koramangala and Jayanagar. People are investing more on the luxury housing sector as more and more people are finding them affordable as compared to other places and localities.

There are many new launches that are taking place in the city and many of them are lined-up with excellent infrastructure, gated communities, villas, bungalows and much more that are coming up into the city and thus people are keenly and willingly investing in property in Bangalore. The success of the real estate sector in the city is a clear symbol of the satisfaction that the investors are getting. The projects are constructed keeping in mind the requirement and demand of the potential buyers. Bangalore is of course the best investment option in today’s time as not only Indians but Foreigners are also investing in property in Bangalore. This is in-turn increasing the demand for residential and commercial property in the city.

Definitely, owning a property in Bangalore is sure going to get good returns on investment in the future. Significantly the outskirts of the city is also developing at a very rapid pace, making it a good option for the buyers a Buy Property in Bangalore.

Is Faridabad Property Giving competition to that in Gurgaon?

Faridabad is considered as the most promising city by many and some consider it to be a poor cousin of Gurgaon. Whatever is the view of people, there is no denying that numerous things are working in the favor of the city and the metro connectivity is like the cherry on the top!

Known to be the largest city of Haryana, this fantastic city possesses a good and strategic geographical location due to its vicinity to all the primary cities of NCR, namely Gurgaon, Noida, and South Delhi, which has played a significant role in boosting the Real Estate Sector and economic possibilities. It is pretty visible that Properties in Faridabad has been attracting numerous buyers as well as other developers or competitors due to its incredible physical and social infrastructure. The primary reason for the same has been the shortage of land in Delhi. No doubt, these investments are generating many job opportunities.

This magnificent city is witnessing numerous new mass transit systems that are developing in the city. The metro connectivity that connects Faridabad to Delhi. Along with this the city will be connected to the rest of NCR through metro, expressways and roads. The improved transportation of Faridabad contributes significantly to the rise of the city. Also, there are numerous housing projects and IT parks that are nearing completion in the city.

There are numerous factor start are contribution towards the growth of Faridabad. These includes the metro connectivity that has open gates for developments in Gurgaon and the IT companies in the millennium city, Gurgaon. Another biggest advantage that Faridabad has is it closeness to Gurgaon and Delhi and both these cities have scarcity of affordable housing segments and land. This has bought along advantage for the Residential Properties in Faridabad.

The hinterlands are also being experienced in the city. Places like Nehrapur has received boost due to the Kundli-Manesar-Palwal Expressway that will connect Delhi to Faridabad. This will provide the advantage to the residents in Faridabad to enjoy the improved infrastructure of the national capital, Delhi.

Faridabad properties are all set to boom in the coming time. With numerous MNCs, small and medium sized organizations are moving towards Faridabad- Ballabgarh complex. This obviously will affect the Real Estate sector in the city 

Corporates Engaging Buyers Along Sarjapur Road Belt in Bangalore

Bangalore has been an attractive realty market since years. The city has numerous localities which are emerging as a hub for the real estate market. One such locality is the Sarjapur Road belt which is said to be a peripheral location in the south of Bangalore. Property in Bangalore is eyeing a lot of investment by the residential and commercial property buyers.

The area is gaining significance from the corporate occupier’s perspective. The stretch originates from the Outer Ring Road intersection and extends further up to Sarjapur town. Other important, significant roads Varthur Road and Hosur Road are situated to the north and south of the Road, respectively.  The Sarjapur Road is in the vicinity from the key developed markets of Whitefield, Koramangala, and HSR Layout among the other primary locations.

Active Commercial Markets

This belt is close to the Outer Ring Road and is one of the liveliest commercial hubs of the city. Earlier, the region had on one major IT companies but today it is famous for being a corporate hub with the host to numerous reputed IT companies.

Growth and Market Dynamics

As per the experts the stretch of Sarjapur Road that begins from Iblur Junction to Dommasandra Circle and then from Dommasandra Circle to Sarjapur village. The first stretch is primarily driven by the office developments in Bellandur and Kadubeesanahalli. Due to these developments in the city, the area is witnessing the construction of retail, offices and residential spaces. The area is experiencing not only the developments for offices but also witnesses’ development of IT campuses and IT Parks. Going forward, this stretch is expected to witness increased transaction when an 18 acre upcoming IT park and IT major’s second campus are on this road are operational.

Location in focus

The prime areas amongst Properties in Bangalore includes Kodathi, Doddakannelli, and Chikkanahalli where residential, commercial and retail growth is taking place. While the Sarjapur-Attibele belt is witnessing commercial and residential growth, Dommasandra, Sarjapur Village and Yanmar Village are emerging as residential regions. 

Hunting a Property in Kolkata? Here are The Tips

Kolkata is a cultural city with people of different religions living with demand of residential and commercial Property in Kolkata. Localities like New Town and Salt Lake have been in demand by the buyers. Both the places are well-established with options for various ready to move in housing projects to choose from.

Whether one is Buying Property in Kolkata for end use or to reap benefits in future, of course they need to have some knowledge and guidelines to how to go about Buying Residential Property in Kolkata. Thus, here are some tips for buyers hunting a house in Kolkata. 

Evaluation of the requirement

It is important for the buyers to know what exactly they are desiring for. The buyers should always be clear about their requirements like type, size and the kind of apartment one is looking for before actually starting your search for buying home in Kolkata properties.

New or Resale

Another major factor is to make the decision of whether one wants to invets in new or resale property. Which one is the pick according to which the segregation of property will be done? This is the time to take that decision and analyze what is more worthy of you, a resale property or a new buy? It is important to make the decision as resale properties are less priced as compared to the new properties.

Amenities

Before investing in any property, it is important to know the localities you want to live in. one should check out the area and its surroundings, availability of schools, grocery stores and other facilities nearby the area you are willing to invest in.

The right location

It is said to be the most complex aspect of Buying Property. Each buyer has its own preference like distance form their offices, or schools, metro stations, etc. one should always keep into consideration the essential areas surrounding the locality, public transport and other important things including the right location match for you to reside in.

Hike in The Cost of Residential Property in Noida?

A setback for the buyers at Yamuna Bank, Noida and Greater Noida, the Residential Property is all set to cost more and of course, this burden will come on the pockets of the customers. The implementation of increased stamp duty on registration of units from 5 to 7 percent has been approved by the governor recently, and this will be applicable from the beginning from the financial year i.e. April 1st, 2016.

Experts believe that depending on the size of the purchase units; there will be an increased burden of around Rs. 50,000 – Rs. 2, 00,000 completely on the customers who are willingly investing in Residential Property in Noida, Yamuna Expressway and Greater Noida. They believe that these will undoubtedly affect the demand for property that recently started picking up pace.

After the National Green Tribunal (NGT) verdict last year, it bought positivity and begun to bring customers back in these areas. But, after the governor’s decision, the buyers and investors are morose and are protesting with the developers’ fraternity. Even the developers believe that this move of increasing the stamp duty will never satisfy the buyers, and they will be forced to pay extra money to receive the ownership of their units. This move is of course not for the buyers, and all the efforts by the NGT verdict which bought back the buyers to the Properties in Noida and nearby regions will now go in vain. 

It is to be taken into account that almost one lakh units are registered each year from Noida, Greater Noida and Yamuna Bank which brings along heavy amount to the authorities. The buyers have to bear not only the increased stamp duty but also the axe of transfer fees and lease rents as the properties in these areas are held on lease. Along with this, the transfer charges are also high which is added to the lease rent. It comes down to a total of 1-2.5% of the total cost of the unit. It, however, varies with different Properties in Noida, Yamuna Bank and Greater Noida. Adding to this is the hiked property prices which of course has to be paid by the buyer.

Altogether the problems of Buying Property in Noida, and nearby regions is high, and this will affect the demand for Properties in Noida, Yamuna Bank and Greater Noida. It is being expected that this decision of increased stamp duty will reduce the demand for property in the future.

Growth mode is on for Real Estate Market in Ghaziabad

The gateway to Uttar Pradesh, Ghaziabad is known to be one of the fast growing real estate cities in Delhi NCR. Property in Ghaziabad is catering majorly to the affordable housing and mid-segment segments.  Currently the city is home to numerous housing clusters like Vaishali, Indirapuram, and Kaushambi where are upcoming regions would include developments along the National Highway 24, Crossings Republic Township, and Raj Nagar Extension.

Where areas like Kaushambi, Indirapuram and Vaishali is constructed to a high extent, regions like Raj Nagar Extension is on its way to developments ad numerous renowned developers are construction residential and commercial projects here. The well-developed areas have large existing housing population and have recorded healthy capital appreciation. All the projects whether residential or commercial are launched mostly in the premium or upper medium segments. These offers specifications and are unique.

The major developments can be seen in the region along the National Highway 24. The location is coming up with various plots along with mid and high rise buildings. The lands available in the location are either of the local players or are a part of an integrated township which would be soon constructed in the area.

The upcoming locations in Ghaziabad is developing at a rapid speed and many reputed and renowned developers are taking the initiative to come in the city and build residential and commercial property in Ghaziabad. Some of these developers are Ashiyana Group, SARE, Assotech, Ansal API, and WAVE Group to name a few. Along with the development of Ghaziabad Real Estate Sector, the government is taking the initiative to improve the social and physical infrastructure of the city.

Sub-markets to Ghaziabad also enjoys an enormous population base especially from the SMEs and industrial sector as well as the low income group looking for an up gradation to decent and better accommodation. In the future it is expected to see Property in Ghaziabad a major reason for the development to the city and see majority of sales volumes. Along with these developments, metro rails are also an important factor for all the infrastructural and other developments that are taking place in the city.

New Mantras of Real Estate for Noida Properties

The city, Noida is well-known for being the hub for numerous IT/ITES offices, educational centers, entertainment zones, industries and renowned hospitals. Due to these developments in the city, it has now extended to its surrounding regions like Noida Extension, Greater Noida and Greater Noida West. This area has got a lot of popularity amongst the realty developers as Noida is said to be one of the favorite real estate destination in the whole of NCR. Property in Noida is witnessing rapid growth in the constructions as compared to the rest of National Capital Region. 

When we talk about Noida properties, they range from residential to commercial and from office and retail spaces to multi-use projects. Numerous reputed developers construct the projects keeping in mind the rules and regulations of international infrastructure developments. The developers also prefer to use RCC framework as well as advanced building materials that would impart earthquake resistant features to the projects.

The developers are making sure that they put in features that are either desired by the buyers or that would attract the customers. One such feature is a green building which helps the developer to provide rich green spaces for the needs of the buyers in various segments including retail spaces, housing, business centers, office spaces and entertainment areas. These residential and Commercial Properties in Noida features landscaped greens with unique amenities for the people of all age groups.

Some builders are working effectively and efficiently on constructing the value for money real estate properties that are affordable for the buyers as well. Many renowned and reputed developers are developing properties in Noida and nearby regions offering affordability along with premium lifestyle. These includes Supertech, Ajnara, Gaursons, Nimbus Group, Antriksh Group, MMR Group and JM Housing among many other developers.

 Currently, there has been seen a lot of change in the economic setup of Noida and Greater Noida. Numerous investors have trusted the Properties in Noida as the location is a promising location to invest in. Many people say that the Property in Noida is majorly for the affluent buyers or people which experts believe is not true as many affordable projects are seen in the real estate scene of Noida. This includes both residential as well as a commercial project in Noida. The future is bound to see more constructions in segments like office spaces, retail spaces, commercial and IT centers and multi-use developments. The increase in the demand for affordable homes lead the homebuyers to this region of the National Capital Region offering pocket-friendly rates for premium lifestyles. 

Why is Noida a Promising Zone for Buying Property?

Noida is said to be the most maintained and developed parts of Delhi NCR which have excellent connectivity to places like Delhi, Greater Noida and Ghaziabad. This amazing city offers great connectivity through road networks which include Yamuna Expressway, DND Flyway and National Highway 24. Addition to this, Noida provides good connectivity through Metro stations which connect to various parts of Delhi and Gurgaon. Thus, it is not surprising that Buying Property in Noida is on a hike by the buyers and every year this number is increasing as investors and home buyers are choosing their adobe in the city. Along with all these facilities, Noida has a major social infrastructure which includes hospitals, schools, offices, hospitals, entertainment zones and shopping areas. The city has a broad range of options, from affordable homes to the luxurious ones; thus, Noida Properties have something for each and every home buyer.

The Realty Market of Noida has become promising because there are many renowned and reputed developers of the national and international fame that are operational in the zone and constructing some magnificent Residential Properties in Noida. Some of these developers that are working in the city include Gaursons, Supertech, Ajnara, JM Housing, Antriksh, MMR Group, Mahagun, Panchsheel and Migsun amongst many others. All these developers have increased the count of the quality realty products and has led to competitive rates of these state of the art products which has ultimately benefiting the investors and home buyers. 

These reputed developers are bringing along some outstanding Properties in Noida offering feature and amenities that fulfills the requirements of the buyers. The Residential Property in Noida offers 2, 3 and 4 BHK apartments which will, of course, give high returns on the investments made by the investors who have invested their money only to earn benefits from the real estate investments.

The 2, 3 and 4 BHK Apartments in Noida are coming with some excellent amenities such as uninterrupted water supply, security services, administrative services, and power backup. Some high standard projects are offering additional premium facilities including gym, swimming pool, jogging tracks, car parking areas, gardens and clubhouse.

Looking at all these developments and fast pace developments in the city, it is no doubt that Investing in property in Noida is a wise decision especially for those who are searching for a promising and suitable location which will be beneficial in the future as well.

Is property in Bangalore on the way for the boost through metro links?

Bangalore is known to be the IT hub and now with the coming up of the metro links; the city will soon witness a push to the residential and commercial developments. With the completion of the underground section that will link Baiyappanahalli and Magadi Road to the other locations in the west, east and CBD seamlessly, there will be a visible thrust to the retail and Residential Property in Bangalore to grow. All this, in turn, will increase the prices of Bangalore properties, especially along this corridor.

This purple line of the Metro rail is expected to functional soon. The route will run through the center of Bangalore and link Mysore road in the west through the nodal point Baiyappanahalli. Apart from these upcoming routes, the already existing routes are between MG Road and Baiyappanahalli ad Mysore Road and Magadi Road.

The metro rail is the must-awaited development in the city which will provide seamless connectivity within the city in particular between the neighborhood of Kengeri and the Mysore Road that will further connect to the eastern location of Baiyappanahalli, Whitefield and the Old Madras Road. This will be the major benefit of the residents in these places of connectivity at affordable prices, convenient of avoiding traffic congestion and saves time. This is one of the primary reason for the increase in the demand for residential and Commercial Property in Bangalore, and this is making the developers speed up and complete the construction of the projects.

The completion of Magadi Road to MG Road is said to be a major route as it will connect the commercial heart of the city with the surrounding residential areas of Bangalore. This will enable a quick and easy travel while giving a rapid thrust to the retail as well. The Magadi Road and MG Road line connect key areas in Central Business District which join KG Road and MG Road further to Magadi Road and thus this location witness a high demand for the retail and office spaces along with the Residential Property in Bangalore. 

There has been an increasing demand for residential, retail and Commercial property in Bangalore due to the metro links and developments that are taking place in the city. All these locations have strong property values and are surrounded majorly for the high-end and upper-middle residential properties in Bangalore. Thus, the regions are said to be at the hotspots at the moment, and the prices might increase more with the completion of the projects in the areas.

Real estate Bill Cleared by Rajya Sabha; Home Buyers Relieved

The most awaited Real Estate bill has been passed by the Rajya Sabha that aims to protect the interest of buyers and bring more transparency to the real estate sector. The bill brings along some drastic changes in the real estate sector especially in the buying and selling of residential and commercial Property in Noida, Delhi and rest of NCR. Major developments are taking place in these cities which makes the attention in these cities the most.

The Regulation and Development Bill 2015 has the main motive to bring transparency in the sector, protect the home buyers, and bring out the flow of the unaccounted money into the Real Estate Sector. The real estate Bill provides that the seventy percent of the proceeds from the sale will have to be kept at a side by the developers in an escrow account. This amount can only be used for buying the land or the construction of the related project. This provides certainty to the buyers that the money that they are investing in the project will only be utilized for the development of the respective project where they have planned to buy the house.

 This Bill will help to establish a state-level Real Estate regulatory authorities as well as appellate tribunals that would regulate the transactions relating to both the commercial and residential projects and ensure timely completion and handover of the project. It also calls for clearance of the complaints to both regulatory authorities and appellate tribunals within 60 days which itself sets a timeline for the resolution of disputes.

While the Realty Bill is set for the deadline, it also has the provision for imprisonment up to three years for the promoters as well as a year for the Real Estate Agents and the buyers if there is any violation of the orders of the monetary penalties, appellate tribunals or both.

Experts say that the real estate bill is the need of the hour. However, they believe that there is certain lacked clarity on the Bill related to the ongoing under-construction projects. Also, they clarified that there will be no exceptions in the bill, and the rules are equal for all, and there will be no discrimination by religion, caste, gender, region or creed and this will be included in the bill as well.

The real estate bill is a plus point for the Real Estate Industry of India. This will cut down the frauds in the industry and help the buyers to get their homes or properties on time.

Why do Property Buyers in Noida to Pay Hiked Rates of Stamp Duty?

The Property buyers in Noida are all set to pay increased stamp duty. Despite opening of the offices, registry and stamp department has nearly completed 2000 registries. The issuing of around 49 developers’ Projects in Noida have been stopped due to the absence of the eco-sensitive zones of the Okhla Bird Sanctuary.

The centre notified the eco-sensitive zone. Out of the total 49 developers, 26 of the developers having almost 16710 thousand apartments in Noida properties who have occupied the certificate from Noida Authorities. As per the authorities, the decision of increase in stamp duty that was decided by the state government will not be rolled back. The department of stamp and registration is being asked to work all days expect Holi till 31st March. The authorities say that to ease the burden of the home buyers, they have asked the register maximum Properties in Noida that the stamp and registration department can in advance of the government to issue hike in the stamp duty.

Thousands of registries and pending and very soon the stamp duty in the area is going to increase from 5-7 percent. Furthermore, the authorities have mentioned that the department generally develop 125 entries in a day whereas currently the department in registering almost 300 new Noida Properties in a day. The authorities however confessed that the target is pretty big and still there are thousands of registries that are pending for registry.

There are 26 developers with over 16,000 registries for the projects that were hampered due to the Okhla Bird Sanctuary. Apart from these developers, there are numerous other developers along with many individual registries which are also pending for Property in Noida, which crosses a total of 20,000 pending registries. For covering the maximum entries in a day, the authorities have been asked to provide additional infrastructure and manpower. Meeting up these deadlines is the prime motive of the authorities.

The increase in the stamp duty in Noida properties, the buyers are concerned as these will have an effect on their pockets and understanding the concern of the Property Buyers in Noida, the authorities are putting in the best of their efforts to reduce the pressure and burden of the Home Buyers in Noida.

Property Prices Get Costlier in Noida With Increase on Stamp Duty

The Uttar Pradesh cabinet has approved the hiking of the stamp duty on the homes by 2% in all the cities. This will automatically increase the burden of the buyers by 1-2 lakhs whereas the revenue department will be earning an additional of Rs 100 crore from Buyers of Property in Noida. With the Okhla Bird Sanctuary row, the home buyers will fell double whammy about their homes.

The buyers have got angry and accused the nexus between the developers, Noida Authority and district administration for various miseries. The developers believe that this would have an adverse effect on the GB Nagar real estate. Also. The authorities say as soon as the government issues the notifications and order, they will start to charge the new rates of the stamp duty.

The authorities also believe that this will take a month to complete the entire process, and thus they say that the hiked stamp duty is likely to charge from April. However, this will not go down pretty well especially with the buyers of Noida Properties. These buyers are especially those who were forced by the developers to wait out a legal battle to draw an eco-sensitive zone all around the Okhla Bird Sanctuary where they have bought apartments. Apart from these, there were numerous flats those were not delivered due to stay orders by the governments will be delivered now and these will be affected by the hiked stamp duty.

Previous year after the final notice to notify the eco-sensitive zone around the Okhla Bird Sanctuary, the respective department has declared that they will be charging additional stamp duty for the completed apartments that were not delivered due to the legal battle.

You cannot ignore these hidden costs while buying a house

You must have read advertisements in newspapers as well as seen them on the T.V with some interesting and attractive offers that the builders offer. Definitely these are not same to what you pay. In the rarest of the rare case you must have paid the exact cost that you see in the advertisements. These increased costs are nothing but the hidden charges that is included in your actual cost of the Property in Noida, in fact, nationally. These hidden costs includes service tax, registration cost, duty fees, and maintenance cost, parking and brokerage fees. Of course these affect you budget drastically. Thus, here we bring a list of the hidden cost that can be included in your budget.

·        Registration Fees and Stamp Duty

The state government charges the registration fees as well as the stamp duty to the buyers while they are buying a property. The registration charges are levied for transferring the ownership whereas the stamp duty must be paid to get the registration of the name done. However, these charges are different in every state and thus one should increase the cost mention in the advertisements.

·        Maintenance Charges

These are basically the charges for maintaining the surrounding as well as the other amenities like lighting and parks. However, there is no guarantee for the damages that occur in the future. This price definitely varies from one project, builder and society to another.

·        Brokerage

Brokerage cost is not always included in your final cost. It depends from whom you have bought your property from. If it’s a third party that you are buying your home from, then you have to pay these charges as well. However these are only 2-5%. Advisably, buy a home directly from the builder as this would cut-down the brokerage charges.

·        VAT, interiors and parking

VAT charges are something you cannot ignore paying, you have to pay it. Interiors are the most important factors for your homes and you definitely don’t want to mess-up with them. However, you can ignore taking the car parking but you might regret it later, as the place gets occupied you will find an empty space to park your vehicles.

Thus, whether you like it or not, whether you find it to be apt for yourself, you have to pay these hidden charges. So, before investing in property in Noida, Delhi or elsewhere, make sure you add these cost well in advance to save yourself from the sudden surprise of extra charges. 

Curative Touch for Kolkata’s Salt Lake - Buy Property

Under the Atal Mission for Rejuvenation and Urban Transformation, the Bidhannagar Municipal Chas has come up with a proposal to build 4 parks in the industrial area.The corporation has recognized around 20 parks in the industrial area that can be constructed with minimal interference or involvement. The parks and open spaces are evaluated in terms of family facilities, physical activity resources, playing equipment for the kids and general services along with the facilities that has come up with the real status of the parks in its care.

The authorities have seen numerous parks that lack in many thing including the boundary walls of the parks. Many of these parks does not have fences as well as public facilities like dustbins, or piped water. The parks also do not have planned play areas or any play equipment for the kids. The facilities needed for attracting the crowd is also missing, there are no ice-cream parlors, snack stalls or kiosks. The officials also believe that many of the parks are not well-lit, manicured or landscaped.

Also, there are almost 12% of the parks those need boundaries, 20% lack supply of water, almost 10% does not have dustbins and 15% needs fenced areas. As per the authorities, the rejuvenation plan includes the involvement of the local citizens and many groups in the maintenance along with to upkeep the development sustainable.

There has been four parks that are decided for the healing touch-up for the present fiscal. These four parks are Nishikanan Park in Rajarhat Dakshin Narayanpur, Niranjan Pally Park and Salua Park in Rajarhat's ward number five as well as municipal sports complex Park also in Rajarhat.’

The major concern of the officials is that there is depletion of green spaces that can be seen due to urbanization. Earlier, the Bidhannagar municipality had been the guardian for all the parks in the Salt Lake as well as many in Rajarhat that came under Rajarhat Gopalpur municipality.Also, all the gardens and parks now come up under the Bidhannagar Municipal Corporation.

This infrastructural development along with other developments in the real estate market in the city which has shown an increased demand of the residential and commercial Property in Kolkata. Also, these infrastructural developments and growth are making the city grow and progress towards an upcoming boost in the city which would be beneficial for the developers as well as the buyers.

National Highway 24 Ready to Provide a Smooth Ride from Ghaziabad to Delhi - Buy Property

National Highway 24 or Delhi Meerut Expressway is on its way for widening as PM Narendra Modi launched Rs 7,566 crore project for the same. This has been delayed for over six years and finally the project is now ready to take off in almost two months and the completion timeline for the same is set at 30 months. The seamless connectivity will definitely make traffic jams a thing of the past and will cut down the travel time to the capital city, Delhi.This will have positive impact on both the developed and developing areas near the region.

The authorities have already acquired the land for the project except some of the patches like built-up inroad in Pandav Nagar region. Also, the Dasna to the Meerut Bypass’s processes have been completed and the compensation of the farmers has been submitted to the local authority.

This project has been proposed in all four sections. These sections are Nizamuddin Bridge to Uttar Pradesh border; UP border to Dasna; Dasna to Meerut and Dasna to Hapur. The work has been started in two of these four sections whereas the other two are in the pipeline. These are expected to being by March, as per the authorities.

The experts in the real estate sector say that the improvement in the infrastructure surrounding this corridor is necessity than a choice and if there will be any more delays in the widening will definitely lead to piling up of the unsold Properties in Ghaziabad and its surrounding areas. The realty market of Ghaziabad is said to be a market for the end-users and is said to be largely dependent on completion status of the projects, its infrastructure, its price and the location that is available in and around the projects that are coming into the city.

It is being said that there will be no impact or changes in the prices of the Ghaziabad Properties in the next 12-18 months due to which people are also not excited about the national highway 24, however, everyone is waiting for the actual ground work to start. There has been confusion and chaos due to this project as it was announced six years back and till date the actual development have not started. The ongoing constructions and the prices of the projects are actually dipping down. The prices are expected to recover when the project will be near completion, before that there is no expectation of change in the prices of the Projects in Ghaziabad and nearby areas.

Definitely, these developments are going to be a game changing segments for the city. National Highway 24 will make it more convenient for the travelers, residents and professionals to travel to Delhi as the time period will be reduced and there will be less traffic on the roads. Thus, the national highway 24 will be one of the best infrastructural developments for Ghaziabad which will of course have a positive impact on the real estate sector in the city and will provide good returns on the investment in the future.

New Town Soon to Introduce Unit Area Tax - Buy Property in Kolkata

In New Town, there will be an introduction to the unit-area system by the New Town Kolkata Development Authority for collecting water and Property taxes from the bulk customers. The city failed to make it to top 20 in the smart city list as it ranked 30^th. However, the authorities are hopeful that the city will feature itself in the second list.

The authorities are eager to make it to the second list for which they are already preparing themselves and they are working full-time for the quick execution of the unit area system in New Town. The documents for the same are in the process of being prepared. Along with numerous facilities, there will be web-based property tax system through which there will be online tax collection. The service will also provide synchronization if tax data and land on the same database.

After getting ago ahead earlier, the New Town Kolkata Development Authority asked the West Bengal valuation Board to make a yearly valuation of the Kolkata Properties especially those present in the township. After the discussion, the authorities have decided to opt for the assessment of the unit area as it is said to be appropriate with the modern smart city concept.

The New Town Kolkata Development Authority Act was revised after much analysis and enquiry which not only gave the authorities the power to collect and impose property tax from the people residing in the townships but also allowed the authorities to act as a municipal authority. As per the authorities New Town is still a township that is developing and there are numerous factors like permitted floor area ratio and current market price of the land for commercial land areas were taken into the consideration for the new or upcoming structure of the tax. This will be a positive and improving step towards Property in Kolkata and this might lead it to make enter into the second list of smart cities.

YEIDA Allottees to Get Lands by June – Buy Property

About 21,000 individual allottees are all set to get the possession of their lands after nearly 7 years which were allotted to them by the Yamuna Expressway Industrial Development Authority.

As per the officials, there was a delay in the possession of lands due to the agitations by the farmers. There are around 77 villages in the region which have been agitating for a hike in the compensation of 64.7% for their lands or areas. The Uttar Pradesh government has directed the Yamuna Expressway Industrial Development Authority to pay the enhanced compensation to the farmers.

Officials reported that they have started the payment of enhanced compensation. And they take it as their priority to hand over the land possession to the allottees. Although, the authorities have already circulated Rs 260 crore to the farmers and have taken the possession of the land in sector 20 of the Yamuna Expressway Industrial Development Authority.They are also planning to take possession of sector -18 within next 30 days which is said to have almost 7,000 allotted lands. The allottees are also asked to cough up extra money for their lands for the authority to pay improved or increased compensation of 64.7% to farmers in the region.

Also, the allottees have been trying really hard to get relief from the extra load. Last year in October, the plot owners got the judicial reprieve from the added burden under the banner of the Yamuna Authority Residential Plot Owner Welfare Association. The association is definitely clear that they want to distribute the compensation to the farmers as well as they are willingly sharing the burden of the farmers.

However, the authorities approached the Allahabad high court seek some relief in the payment plans. The court thus asked YEIDA to sort the issue for which a committee was formed of senior officials who took the final decision on the issue on 22^nd January 2016. Also, as per the sources, the committee would allow the allottees to pay the burden in 8 installments than that of 4. These instalments are said to be interest free and would not have any penalties in case the allottees are not able to pay their dues. Also, the individual allottees are also being asked to give up either Rs 550 or Rs 1,770 per square meter for sharing their burden with Yamuna Expressway Industrial Development Authority.

This is definitely a relieving feeling for the allottees as they would finally get the lands and their long wait will be over. There are around 10,000 allottees who have cleared their first installment which was due on 30^th October, 2015, it is not necessary for them to pay the second installment. However there are around 11,000 allottees who have till now not cleared their 1^st installment. They will now be asked to pay both of the installments together.

Thus, the Property in Noida is coming out to the judicial issues and working back on the schemes that they were made for. It is also adjusting the share of the farmers as they should not be in loss due to these schemes.