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.

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.

Growth in Ghaziabad Real Estate

Ghaziabad caters to the affordable housing segment and the mid-segment. The upcoming residential corridors like the area around NH-24, Raj Nagar Extension, and crossings republic townships are pacing –up developments in the city. There has been restriction in new construction in areas like Kaushambi, Vaishali, and Indirapuram. These areas have already being developed to a great extent and with a huge existing residential population, these residential areas have recorded a healthy capital appreciation.

All the recent developments have majorly been the upper-mid and premium segments that offers luxurious specifications and an up-gradation from the mid-segment housing options. There are numerous projects that are coming up in the region and all these projects are have different target audience that they are catering to. From the usual mid-segment to upper and luxurious segments, Ghaziabad has a lot to residential and commercial projects that are coming up in the region.

Places like Raj Nagar Extension has just started with it development phase, thus, the area has a lot of potential of newer and urban style developments. Though the place is currently seeing some lesser known developers that are constructing in the region, but soon renowned developers will also head their way to this side of the city.

Property in Ghaziabad would definitely continue to gather interest, especially for affordable housing and commercial projects in places like Raj Nagar Extension, NH-24, and Crossing Republic. Also, the Ghaziabad sub-market also has a large population to cater from the low-income workers, to industrial sector that are looking to upgrade to better accommodation. In the coming time, the already existing areas should surely continue to hold on to their grounds while the lower income groups should account for maximum of sales volumes.

The infrastructural developments like metro that is being extended to Ghaziabad and widening of the NH-24 to 6 lanes is said to aid in furthering housing developments in this region.The main demand is likely to generate from the middle and low-income population for the residential that are offering in this corridor.

These developments are increasing the demand of residential as well as commercial property in Ghaziabad . People are heading towards the developed along with the developing areas in the city. The affordability of property and easy accessibility from Ghaziabad makes it an appropriate option for residents and professionals.Buyers and developers are moving rapidly towards buying and developing in the real estate sector in Ghaziabad.

  

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