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Faridabad-Noida-Ghaziabad Eway driving realty

Faridabad-Noida-Ghaziabad Eway driving realty

Faridabad-Noida-Ghaziabad Expressway or FNG Expressway is making new property destinations in the NCR.  This expressway will pass through Noida, Ghaziabad, Faridabad and Gurugram to boost connectivity between these prominent cities. Thus, the localities along this Eway have emerged as property hotspot.

It is smart move that will offer safe and fast transport

Experts who are tracking this property market believe that the property aspects along the expressway corridors are promising. FNG expressway will offer direct connectivity between Noida and Faridabad. Once this long stretch is operational, people can travel between this stretch within half an hour.

FNG expressway is around 56 kilometer long stretch with 19-km stretch falls in Noida, 8 kilometers in Ghaziabad and the remaining 28 kilometers in Faridabad. Once this entire stretch is operational, it will alter the urban infrastructure of the region. This National Highway Project will not only accelerate the sale of land parcels in these areas, but also bring chance for mid-income class to buy budget houses in NCR. It is expected that this Eway  will be stretched up to Sohna Road Gurgaon that will further boost property market around Sohna Road.

Real estate developers are hoping big property market to emerge

Real estate developers of the NCR are very much optimistic about this locality, even prior to its completion.

According to Harmit Chawla, MD of real estate firm HCorp Realty Pvt. Ltd., “The national highway project is to benefit major chunk of people and will be an alternative route for commuters coming from from Meerut, Ghaziabad, Noida, Greater Noida, Gurugram and Hapur who wish to go to Faridabad and Agra. The expressway will cut travel time from two hours to 40 minutes and smoothen traffic pressure on the areas of NH-24, NH-58 and NH-2 that fall in the Delhi region. At present, people coming from Ghaziabad, Meerut and Hapur take these roads to reach Faridabad and Agra”.

Easy connectivity wins

Presently Ghaziabad, Noida and Greater Noida are accessible to Faridabad through NH-24 and NH-2 and these are much crowded roads of NCR. Experts say that, FNG expressway will ease connectivity to major hosing segments of NCR regions including Ghaziabad, Noida, Greater Noida, Faridabad and Gurugram and will transform the locality which leads high demand for residential property in near future. People can travel easily for work. The expressway will stimulate the growth of these locality through good network connectivity and will emerge as a hot property destinations.

Noida to digitise all property records

Noida to digitise all property records

The Noida Authority digitised 16,300 institutional, industrial and commercial properties. The digital services for these properties will be available from January 2, 2017 at www.noidaauthorityonline.com.

The Noida Authority digitised 16,300 institutional, industrial and commercial properties. According to officials, while the first phase of the project was soft-launched, digital services for these properties will be available from January 2, 2017.

With the digitisation of properties, a host of services, including permissions for mortgage, mutation of land, transfer of memorandum, completion and functional certificates, lease rent deposit, water bill payment, etc., will be a smooth affair for allottees in Noida, a senior official said.

“Within the next five months, we plan to digitise all Noida’s properties. The aim is to achieve minimum interface with the allottees but provide them with maximum transparency besides doing away with red tape,” said Deepak Agarwal, Noida Authority CEO.

“The services can be accessed from Noida’s website www.noidaauthorityonline.com. Each allottee will be provided with a unique user ID and password,” Agarwal explained.

“With the industrial application going online, investors and entrepreneurs will be able to view all available land for industries. While payments will be done online, the portal will also allow electronic communication. In future, GIS-based plot search and visibility will be added,” he explained.

“We are also working on Online Building Map Approval Process System (OBMAPS to speed up the process of building plan compliance check, in accordance with building by-laws,” Agarwal said.

Source: TOI

Trials for Kalindi-Botanic Metr

Trials for Kalindi-Botanic Metro to start before Diwali

The under-construction 3.9-km link between Kalindi Kunj in Delhi and Botanic Garden Metro station in Noida is likely to be ready for trials by Diwali.

The under-construction 3.9-km link between Kalindi Kunj in Delhi and Botanic Garden Metro station in Noida is likely to be ready for trials by Diwali. According to DMRC officials, though they are targeting October 30 for commencing the trials, they could well be launched much before that. The track is likely to be ready for commissioning by January 2017. The original target for completion of the track is March 2017, while trials were to start by December 2016.

During trials, the interface of the Metro train, which will be driverless, will be checked to ensure that there is no physical infringement with civil infrastructure during the movement of the train on the track and also testing of various subsystems of coaches shall be done.

Officials said that civil work on the stretch has been 100% completed. Viaduct or laying of the track has also been completed 100%. Installation of the new signaling technology to be implemented on this corridor and Communication Based Train Control (CBTC) is being undertaken and should be completed in the next 10-15 days. While masts for the Over Head Electrification (OHE) is 100% complete, the electrical lines are being put into place. This work is about 60% done and should be completed before the target date, officials said.

Work on the track kick-started in December 2014. Finishing work along the stations along the route will be carried out once the trails are over and the line is ready for the public.

The Kalindi Kunj-Botanical Garden track will connect to DMRC’s magenta line. With this track in place, Noida will have two colour coded lines—Blue line and Magenta line—operating out of the city. Once this Rs 845 crore corridor is ready, commuters will no longer have to go to Rajiv Chowk Metro station to take the yellow line (Huda City Centre to Samaypur Badli) as the corridor will form a ringed route and connect Botanic Garden station with Hauz Khas station via Amity University, Kalindi Kunj and Kalkaji temple station.

According to marker expert, the advent of new metro line will uplift the market sentiment. The property prices along the corridor is expected to grow significantly. The smooth connectivity and better civic infrastructure always put great impact over home prices in the area.

 

stamp duty

Noida stamp duty set to be hiked next week

The two percentage point increase in stamp duty will put immediate impact on Noida home buyers who booked flats years ago.

The two percentage point increase in stamp duty, announced earlier this year but kept in abeyance, is likely to come into effect any day next week. Its immediate impact will be on home buyers who booked flats years ago but have just started getting possession after the resolution of the ecological quandary around the demarcation of a buffer zone around the Okhla bird sanctuary.

Thousands of flats in Noida and Greater Noida (west), earlier known as Noida Extension, will be delivered over the next few months, but the cost of registry will be 7% instead of 5%. The government hasn’t made it clear which date it will implement it from or whether buyers who had booked flats earlier would be exempted. The stamp and registry department expects a surge in the number of applications.

Chandra Shekhar, an advocate who deals in registry of properties, said the proposed revision of circle rates has also created panic among home buyers. “Registering a property is a time-taking process. The buyers and builders have to sign an agreement. The Noida Authority has to give a transfer certificate. The buyers then have to submit the documents and stamp duty,” he said.

There are over 30,000 registries pending mainly due to delay on the part of developers, who are yet to make payments to Noida Authority. According to sources, without payment, the Authority does not issue completion certification to developers, without which, the stamp and registration department does not register properties.

Sources said that the notification has been intentionally delayed to register maximum deeds. Developers, on the other hand however, said the hike will negatively impact real estate in GB Nagar.

The hike will put an extra Rs 1-2 lakh burden on each buyer, while the revenue department expects to earn an additional Rs 100 crore.

With thousands of flats routinely delivered late in GB Nagar, especially those affected by the Okhla Bird Sanctuary row, it will be a double whammy for many buyers.

Angry buyers accused a nexus between Noida Authority, developers and district administration for their misery. Developers said the decision will negatively impact GB Nagar real estate.

It is pertinent to mention that Noida and Greater Noida are government by the UP Industrial Development Act, 1976. Following the directions of UP chief secretary Alok Ranjan, a proposal was moved by the department to hike stamp duty in these areas, which are government by the Act.

Real-Estate-commercial-Building

Noida Commercial Property Overview

A famous saying in Real Estate “Don’t wait to buy a Real Estate, Buy Real Estate and then wait

A real estate is more than just houses; it even includes commercial properties, condominiums and open land in addition to just single –family homes.

Brief History

Real Estate saw a boom in the market from the year 2008-2013. These years in particular especially Noida and Greater Noida saw many new players (Like Jaypee Infratech, Gaursons India Limited, Wave Infratech etc.. along with small players) entering into the market and offering a combination of 1/2/3/4 BHK apartments along with various amenities that can change the life-style of a common man along at very attractive prices to fit into the budget. This not only benefited the common man but also the dream of having his own house in NCR started becoming possible.

The Real Estate industry even became one of the most prominent sectors in employment generation. People from different industries and varied experiences came and joined the industry and gradually the face of industry stated changing from a traditional property dealer to a professionally managed industry. This was the time when residential apartments / plots were more in demand.

The demand for residential units continued in the same pace for another 3-4 years i.e till 2012. Ever since 2013 mid the demand for the residential units started slowing down due to fewer new launches and very few “fresh land allotment” by the Noida Authority. The developers were all supposed to deliver the project by this time which was launched way back in 2008-09, but eventually it did not happened in time and almost every project suffered a delay of one or two years in particular, due to some external and internal factors. The market took some time in actually understanding that there is an oversupply of residential units and the toughest task of delivering those units are still not completed.

The prices then were at its peak and all those residential units launched at an average price of Rs.2500/- PSF way back in 2009-10, were now asking for a price of almost Rs. 5000/- PSF and even more. The bubble was about to burst in couple of months and it actually started towards mid-2014.

This was a typical transition phase for the sector wherein it was considered that, NCR market is Builder and Brokers driven and buyer is not a king.”

Gradually when the sales took a dip and all those directly or indirectly associated with the Sector started feeling the heat in their earnings, the market was lured with various tailor made payment plans, offers, amenities, foreign trips and lately the price cuts. The Market even understood and accepted that the “Buyer was and always remain the King”

Now, with ample options of ready to move, under construction and fewer fresh launches along with very fair prices available, this is the time when an end user who has a dream to owning a house in NCR can still come true.

Current Market Scenario:

As we have said a lot about Residential units and their benefit, the demand for the residential units will always be there depending upon the choice and requirement of the end user with the variety of options viz, Ready to Move, under construction etc..

So where the Real Estate Market is Heading and what is the future of this Industry?

If we look around and analyze almost every im-movable thing is a real estate viz, house we live, office where we work, Land etc.. As and when, with the time the demand for Real Estate will keep on increasing and decreasing.

Right Time to Invest:

Real Estate is an Investment Zone, where there is a common believe that the money invested now will fetch a better return tomorrow, even better than investing in SIP’s, Mutual Funds, Fixed Deposit and other traditional investment tools available in the market.

So with the market scenario which is the better option Apartment Plot or Commercial and where?

The current market scenario is more favourable in investing into commercial. There are plenty of options available to choose from.

Why Commercial??

Investing in commercial property viz Retail space, Office Space or Serviced Apartment is new talk of the town. It seems that, for majority of the people the quest for investing into residential unit has been put to rest because of oversupply of the residential units as well as low rental value or lower Return on Investment (ROI)

Wherein the commercial property with better payment plans, assured returns along with lease guarantee which starts with minimum of 3 years and can extend upto lifetime along with the lower price range gives an edge to even small investors to put their money and create a property which can assure them with the rental income for life time. The ROI (Return on Investment) is quite high as compared to residential unit.

Apart from this, Noida Market is something which attracts a better return with lower purchase value. Slowly the market for Office Space and Retail Space has caught an attention from the buyers and even from the big business houses for the rental space as everybody starting from an individual to big corporate house is looking for cost cut in order to enhance their earnings.

Henceforth Noida Market provides them with an opportunity with lower cost, better developed infrastructure, Transportation system, Lower rentals as compared to gurgaon, Expressways and DMIC (Delhi – Mumbai Industrial corridors).

Now, when everything is put together the answer is Profit. Hence, full marks to Noida Commercial Market.

clean noida

‘Clean Noida’ app set for Aug 31 launch

The ‘Clean Noida’ Android application will allow residents to upload photographs of unattended garbage and alert the civic authorities.

The Noida Authority is all set to empower residents to keep the city clean. It will launch ‘Clean Noida‘, a citizen-focused Android application, which will allow residents to upload photographs of unattended garbage and alert the civic authorities.

 

In support of Prime Minister Narendra Modi’s Swachh Bharat initiative, the focus of the app is to ensure cleanliness besides dealing with sanitation problems faced by residents.

 

The powerful online tool will also provide information about public toilets and garbage collection bins, which will be marked and shown on Google map. The mobile app, which will go online from Saturday this week, will be available for download through Google Play Store. However, it will be officially launched on August 31 by Rama Raman, the chairperson and CEO, Noida Authority.

 

According to officials, the ‘Clean Noida‘ app is integrated with the well-used ‘Noida Citizen Charter’, an online citizen charter with 187 services across 12 departments that became operational in Noida last year in August.

Source: TOI

homes-may-get-costlier

Noida homes may get costlier

Land allotment rates for residential and institutional have been hiked by 15% leaving realtors unhappy.

The residential market of Noida has always been hot destination for mid-segment buyers as the city offers multiple options in the category of affordable homes in entire NCR realty arena.

However, a recent move by the Noida authority to make hike land rates of residential and institutional land use categories by 15% has created agitation in developer fraternity. This hike is not applicable on commercial land use keeping in mind that higher prices would take away investors form the market.

The decision of New Okhla Development Authority may bring cascading effect on property prices in Noida. The registry department also updates its charges after the authorities fix the prices. This will change the sentiments of buyers who have planned to buy homes, say realtors.

Moreover, the other two parallel development authorities — GNIDA and YEIDA — are not in view to increase in previous land rates, hoping the locality will take home buyers from Noida.

CheckoutYEIDA launches 5 new land use schemes, including land for housing

The new land rates are effective from April 1, 2016 on residential and institutional land categories.

Deepak Kapoor, president CREDAI, Western UP, says, “At a time when developers are struggling to cope up with slow sales, this increase in land rates has come as a big disappointment for developers. It would now be costly to buy land parcels for developers which eventually would result in costly projects for buyers as well.

Harish Arora of Saksham Services says, “Such course of action by local authority gives a setback to new home buyers and trading investors too, especially when realty market is already lingering by the absence of potential buyers. We are shocked with the decision of Noida board to pass a steep hike in rates of residential and institutional land. However, no change in commercial land allotment rate will keep interest alive of trading investors”.

Segment-wise new prices:

The land use area in Noida is divided into five categories – A, B, C, D and E for residential, commercial and industrial lands.

  • Category ‘A’ is fully developed residential clusters and the land allotment rates in this area are corrected from Rs 68,750 to Rs 81,400.
  • Land use in ‘B’ category has received the hike from previous Rs 47,920 to Rs 56, 740. Sectors like 15, 19, and 20,21,23,25 to 29 etc. falls in this category.
  • Residential sectors in class ‘C’ will also have new rates Rs 41,320 to Rs 34,900 prior.
  • Prior to new notification, the land allotment rates in category ‘D’ residential sectors were Rs 29,170 and now it is increased to Rs 34,540.
  • Category ‘E’ is newly developed residential sectors of Noida and land rates here hiked from Rs 25,000 to Rs 29,600.
  • Group housing segment has now new rates between Rs 41,940 to Rs 1, 11,000 which was between Rs 35,420 and Rs 93,750.

Property prices likely to increase

According to realty experts, this decision will put extra load on home buyers as the property prices will uproar with hike in land allotment tax. As the land cost is vital factor of an entire real estate project. Hence, homes in Noida are going to be costlier and it will have huge impact on the exiting market.

CheckoutChecklist For Investing In Pre-launch Property

The hike in land allotment rates can have adverse effect on the real estate market of Noida. The increase in prices would discourage investments in the region and would leave an extra burden on the pockets of home buyers and investors. As the land rates will now cost more, it would bring negative sentiments in the market and can dampen the investment and growth prospects in NoidaKapoor said.