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Delhi-Meerut expressway to boost NCR realty market

The Dasna-Meerut six-lane connector has received a nod from the central government and the demand for housing units along the stretch is likely to increase, say realtors.

After a long wait, the Environment Ministry has given green signal to the NHAI to begin work on the Delhi-Meerut expressway. Project-related activities started in May when the Prime Minister put the foundation stone.

The total length of the entire expressway will be 105.45 km. This ambitious project was approved by the Cabinet Committee on Economic Affairs (CCEA) chaired by the Prime Minister. The project would cost Rs 7,566 crore.

The project has to be executed in three stages. In the first phase, construction will commence from Delhi to Dasna which is a 27 km, 14-lane stretch while the second stage will be extended from Dasna to Hapur by a further 27 km , six-lane road on NH-24. The third phase will include construction of 37 km long road which will be called as Greenfield alignment of the expressway.

Infrastructure and connectivity to improve

Once the project is completed, it will certainly prove to be a boon for thousands of daily commuters who travel from Meerut to Delhi. The expressway will also cut travel time from many other cities of Uttar Pradesh. The construction of Dasna-Meerut six-lane is aimed at de-congesting traffic in the national capital. The expressway would also ease the lives of people residing in Indirapuram – Ghaziabad stretch. The four stretch of expressway including Nizamuddin bridge to UP border, UP border to Dasna and Dasna to Hapur is supposed to served well in public transport.

The stretch along the NH-24 and Ghaziabad are well-mapped with civic infrastructure. It is expected that the extended stretch up to Meerut will have medical, education, healthcare and entertainment facilities. More infrastructural developments like the extension of Metro route will be planned.

Locations that would be benefitted

Grater Noida West, Crossings Republik, Raj Nagar Extension, Indirapuram, Vaishali, Kaushambi and Siddhartha Vihar are some of the prominent location of NCR circuit that will benefit from the development of the Delhi-Meerut expressway. Realty market experts estimate that the property market will also geta fillip.

Gaurav Gupta, general secretary, CREDAI RNE, said, “The rates of properties on this stretch at present are also affordable which are expected to go high with this project. This plan would be a big contributory of realty growth eventually fostering the development of all the regions lying on this stretch. This expressway will positively impact the values of regions lying along NH-58 & NH-24. Different regions of Ghaziabad, Indirapuram, Noida and Greater Noida (West) would benefit a lot with construction of this expressway. These regions are expected to witness a different growth story once the project culminates.

The new development plan will accelerate the property market in locality which lies in and around Indirapuram, Ghaziabad and NH-24. This was the long awaited project for investors those who were looking to invest apart from the area that is already saturated and congested in every terms. This will broaden the opportunity for developers as well as investors. Developers will find it easier to acquire land and build projects; and home buyers will have more affordable options in the periphery,” said Sunil Pandey of Real Homez.

Smooth connectivity is always a key factor for development of any place. This project would certainly boost give relief to daily commuters and will take away the loads of traffic from the existing highway. We are also expecting extension of metro route over the highway,” he said.

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8 new norms that will boost NCR property market

A series of decisions and laws promise to bring good days to the real estate market

The real estate market has been reeling under a slump and trying hard to earn profits. However, in the last few months, a lot has been done to inject new life into the market. To make buying and selling process more crystal clear, laws have been enacted to bridge the gap between developers and end-users. Experts say these laws will have a positive impact on the demand. HappyKeys lists the new norms that give you strong reasons to buy new homes in the NCR market.

Service tax relaxation:  In a recent verdict, the Delhi High Court ruled that the buyers of under construction flats are exempted from paying service tax. The judgment says that no service tax can be charged from buyers who have purchased apartments after 2012. The court has also directed builders to refund the collected service tax with interest rate at 6%. The experts are of view that the exclusion of service tax from properties under construction is expected to witness improved market sentiments.

Circle rate cut to help market: Recently, Gurgaon administration has sought a 15 per cent cut in circle rate of properties. Market experts believe this move will push more buyers towards investing in the realty market and help to restore confidence in the real estate market.

REIT rule relaxation: Small investors have much to cheer about the government’s new policies that remove hurdles in real estate and offer easy norms to end-users. The new resolution gives freedom to REITs to invest more in under-construction projects. In a new amendment by SEBI, mid-segment investors can invest up to 20 per cent which is likely to lead to an increase in returns.

Floor safety rule: Noida and Greater Noida Development Authorities have made new clause mandatory for developers. From now developers are required to seek floor wise safety certification from IITs for any under-construction projects. The institution will also verify quality constriction and earthquake measures have been implemented or not. This move will certainly ease the burden of home buyers who have to verify from several safety angle.

New exit policy to help buyers: With the enforcement of new exit policy, builders can complete their ongoing projects nearing completion and give possession of flats on time.

7th Pay Commission: The implementation of 7th Pay Commission recommendations has raised the salaries of government employees and pensioners which will boost purchasing power of home buyer. Huge property transaction is expected in real estate sector.

Huge pile of unsold inventory: Rising inventory of unsold flats has led to price correction in Delhi-NCR. According to the latest report by ASSOCHAM, Delhi NCR has the highest number of unsold inventory in real estate with 250,000 units, followed by Mumbai metropolitan region at 98,000 units. New buyers can take the advantage of this situation and can bargain hard while closing the deal.

Model Shop Establishment Act: The rule will give freedom to retail outlets to keep open 24×7. This act will promote investment in commercial sector. Investors can look in the commercial space as in the near future prices may go up.

Checklist For Investing In Pre-launch Property

Checklist For Choosing A Builder In Delhi-NCR


Home buyers have a tough choice between local and national-level realty developers when looking for a house in the National Capital Region. Here’s a comprehensive guide on how to choose developer wisely.

A real estate buyer faces two tough questions – where to buy and from whom to buy. The second question usually answers the first one easily, for once the builder is chosen, it becomes easy to shortlist the locations the builder is developing the property.Checklist For Choosing A Builder In Delhi-NCR

Here is a brief guide

for choosing the appropriate builder in Delhi-NCR:

  • Define your needs: Figure out your property-related needs . What is you purpose behind buying property (renting/investment/residence), what specific size are you looking for, the home type preferred and the budget. Many builders specialise in specific type of stylish homes. Hence once you configure your needs, you can create a list of potential builders
  • Past record of the builder: Property developers with decent experience and track record can deliver projects well with new concepts design without any hassle. They would not typically deliver sub-standard products which may ruin their brand value.
  • Check reviews online: Do a search online and you will find views and opinions of other home buyers. Moreover, you can get the customer references and referrals from the builder also.
  • Builder profile: Verify whether the builder is registered with the authorities or not.
  • Go through the possession c It is important for the homebuyers to check possession clause. Though good quality builder will always ensure the timely possession.

Industry advice  

“While buying a home is a dream come true, it is equally important to checklist few things before closing the deal. It is very important to thoroughly check the background of the builder, his membership with CREDAI, projects delivered by him, his quality of work and adherence to promises etc. It is important to be an informed buyer. Do a thorough market research about the brand and goodwill of the builder and the project,” said Prashant Tiwari, chairman of, Prateek Group.

“Consider selecting good location which has all the facilities and amenities for a peaceful living. Location in NCR like Siddhartha Vihar, Noida, Crossings Republic have not only good physical infrastructure but property prices are also low as compared to other parts of Delhi-NCR. Construction quality and timely delivery is something which has to be checked for a hassle free purchase,” he said.

“One of the most important steps in choosing a home builder is the builder’s profile. Everyone wants builders who are trustworthy. A buyer will always check the market status of the builder, how many years has it been in this field, whether it is a listed company, how many projects have been completed so far and if they are of a good quality. Even while doing so, the buyer has to check whether he is providing a place that suits within their bracket of price range,” says a SRS Real Estate spokesperson.

The location also matters while buying. Builder’s location may not necessarily be the location that buyers want.

“Reputation is one of the most important aspects while choosing a builder. Word of mouth is crucial in real estate market. A builder’s reputation in the market decides the fate in the market. A good word always brings up the reputation,” the spokesperson added.

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Looking beyond the Grade A Developer

Targeting smaller builders may give you more value for money than bigger real estate names. It is easier to dispose properties in the mid-segment due to lower ticket sizes.

With expansion in the mid-income population, there has been a rise in demand for midrange housing options across Delhi-NCR. This has led to a marked increase in the number of developers jumping into the fray with new launches, making the market competitive.

“Mid-segment housing is an excellent choice for investment for several reasons. Firstly, though it may seem that the new launches in this segment are fairly high, there is still a big demand-supply mismatch in the category. The size of the middle-income population is increasing at a faster pace across the country, and the city attracts a sizeable portion of middle-income earning segment keen on investing,” says Naveen Nandwani, executive director, Cushman and Wakefield.

“Secondly, the current capital values are attractively priced and there is an upside potential. Thirdly, in comparison to the high-end segment, it is easier to dispose properties in the mid-segment due to higher demand and lower ticket sizes.”

Dominated by several mid-segment builders and developers, the pricing is also competitive.

“Not all home buyers plan to use a swimming pool or a club house regularly. Also, there a large segment of smaller developers who offer greater value in terms of larger interiors, strategic location and even features such as more greenery and use of alternate energy such as solar power,” says Nitesh Himani of Himani Properties in Noida. “Similarly, investment in water purification for surrounding green area and individual water meters so that you pay for only what you use and not a share of the total water consumption tend to add value.”

Affordable luxury

There are several builders, though not classified as grade A, who have forayed into the luxury segment. In fact, several lesser-known developers in Gurgaon have made this significant jump in offerings.

“No builder in Gurgaon today wants to be termed as low-budget or mid-segment developer,” says Sanjay Sharma, director of real estate brokerage firm Qubrex. “Buyers are being offered innovative design themes, international architecture and world-class facilities at prices lower than ultra-luxury projects. This has accelerated the demand for such projects to a great extent as the buyer can experience luxury which fits into his or her pocket.”

Types of Property for sale in Delhi NCR

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If you’re reading this, you most probably are an eager investor looking to buy property in NCR. And we have some useful information to familiarize you with the different types of properties for sale around here!

In recent years, developers have coined numerous terms for different styles of innovative living spaces launched by them. While a prospective buyer is spoilt for choice when it comes to the types of property he/she can invest in; this can get a little perplexing at times. This blog post talks about the various types of residential properties that are available for sale in Delhi NCR, so as to help you take an informed decision about your forthcoming investment. Read on, and gain a better understanding of the different types of property for sale in the National Capital Region:

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Flats and Apartments: These are the most commonly available residential units in the National Capital Region. Most new properties in NCR offer a wide variety of high-rise and low-rise apartments which include 1 BHK, 2 BHK, 3 BHK, 4 BHK and 5 BHK units in different layouts and sizes. Both in terms of demand as well as supply, apartments and flats clock a higher percentage over other types of properties in NCR.

 

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Plots: Plots refer to open areas of land that have been strategically plotted for the purpose of constructing independent residential spaces. Given that the owner is free to construct the residences as per their preferences, residential plots in Delhi NCR come at a higher basic sale price than flats and apartments. Another advantage of buying plots is that they serve as an excellent investment option with high ROIs.

 

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Villas/Bungalows: While the scarcity of space makes the option of owning a villa or bungalow open to a chosen few, these constructions are often launched as a premium segment of an integrated township. Villas and bungalows in Delhi NCR are also available in the resale market, and these are priced higher than the new developments, owing to their central location in the city.

 

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Independent floors: Also referred to as builder floors, these comprise of independent living spaces set up in a low to mid rise structure, wherein the buyer usually gets the ownership of an entire floor. Builder floor apartments are usually constructed by developers who operate on a smaller scale, and these developments are constructed on freehold residential plots.

Most of the new residential developments in Delhi NCR are coming up in areas around Noida, Greater Noida, Gurgaon and Ghaziabad