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.