Real estate in Ghaziabad is Growing Faster Compared To Noida

With the improvement in infrastructure, facilities and connectivity, real estate in Ghaziabad is growing faster compared to Noida.
Ghaziabad real estate

Ghaziabad real estate will thrive as the city achieves  better development.

Real estate in Ghaziabad is on the verge to become a hot real estate destination in around 5 years’ time as compared to Noida. Yet one should notice that Noida has achieved a level of growth in a quicker span.

Earlier if the real estate builders avoided Ghaziabad real estate due to its weaker development, the current situation shows that they are keen to build up projects in Ghaziabad. Due to the steady improvement, the city seems to be competent to Noida real estate. Ghaziabad might now obviously hold better investment chances than Noida. Continue reading

Buyers back in Real Estate Sector this Navaratra.

Buyers are back in the realty market this Navaratra, lending credence to this festive season’s reputation as a golden period for business in this sector.

There is flurry of activity in the offices of realty firms as buyers are coming out to seal deals. The mood is likely to remain upbeat till the end of summer vacation of schools.

“I am sure that this positive momentum in the market will continue till summer vacation when even more end users are likely to clinch deals,” Samir Jasuja, the chairman and managing director of Prop Equity, says.

“After Navaratra, summer vacation in schools is regarded a good time for realty, as people wait for the end of term of their children to shift houses or buy one. The summer is a time of transfers and relocation; a time of school admissions and hunting for a house near schools, so that children can have an easy commute,” Jasuja says.

Gaurav Mittal, the managing director of CHD Developers, says: “The mood is really upbeat in the market with people finalizing deals in property. While market warms up during Navaratras even during bad times, this Navaratra is different. The quantum of deals is unexpected, though a welcome development.”

Jasuja says, “Notwithstanding a slew of legal battles, buyers are taking a final call on their new purchases in Noida and Greater Noida.” A report of Prop Equity says that the current financial year has proved to be good for almost all the big cities of the NCR including, Noida, Gurgaon, Ghaziabad, Greater Noida and Faridabad.

Sanjay Khanna, the director of Kailash Nath Developers Pvt Ltd, says: “I hope the worst is over for realty market and transactions take place till the end of summer vacation in schools. This Navaratra is proving to be very auspicious for the realty world. I know that NRIs, too, find the summer months an ideal time to return to their roots in order to buy property. Their search for a property also starts during the summer. This is the time when they visit India in order to meet their relatives and, side by side, also look for nice properties. They do not mind paying slightly more for good properties.”

Realty watchers say that April-June period records a high quantum of property transactions. Realty market picks pace from Navaratras. This is a time when end users finalize their deals and those looking for new homes on rent, also shift. The summer is also a time when the resale market picks up nicely.

Vijay Jindal, the chairman and managing director of SVP group, says: “It is a hectic period from Navaratra and through the summer months. A lot of transactions take place at all levels.” He says that during the summer, buyers give priority to those projects which are close to good schools.

40 mn sq. ft. to be developed in next 5 years by South Asian Real Estate.

At the launch of ‘Green Parc II’, which is the fourth phase of its 65-acre integrated township in Gurgaon, SARE Homes Chief Operating Officer Vineet Relia said, “We are looking at developing an additional 40 mn sq feet over the next five years. We are focusing on seven major cities in the country”.

“In the near future, we plan to launch projects in Navi Mumbai and are looking to acquire land parcels on the growth corridors of large cities in India,” SARE Homes Executive Director David Walker said.

Recently, the company has invested in eight projects in Gurgaon, Ghaziabad, Navi Mumbai, Chennai, Amritsar and Indore, representing around 36.5 million square feet.

The Supreme Court Upheld the Noida Extension Order

The Supreme court had upheld the order of Allahabad High Court that had nullified the possession of Greater Noida Authority of land of Greater Noida in Shahberi Village. Also, Supreme Court had imposed a fine of INR 10 lakh on the Greater Noida Authority. The SC said the Greater Noida Authority bought lands from farmers for industrial projects but later they changed the land usage to residential projects which is a complete act of violation of the purpose of the land. The SC’s decision is likely to affect several builders – Amarpali, Ajnara, Mahagun, Supertech and Panchsheel.

On the contrary, Supertech Limited has not launched or sold any project on the land falling in this village. This village is closest to the project Eco Village2 but the current land of this project does not belong to this village. Construction is on for all the 3 projects – Ecovillage-1, Ecovillage-2, Ecovillage-3) in Noida Extn. Thus all the investments are fully safe and project would be completed on time. The Ecovillage housing are affordable with starting price as 9.85 lakhs.

So, Noida Extension’s loss will yield an unexpected gain for other locations such as Noida, Indirapuram, Vaishali, Vasundhara and Raj Nagar Extension?

Protest March took place in Ghaziabad against Increased House Tax

Dealers of Ghaziabad city came together and presented a protest march for opposition of the proposed increase in house tax. Mahanagar Udyog Vyapar Mandal was the organizer of this march. The participants gave a huge dharna in front of the gate of municipal office.

Dr HS Saharia was given a written memorandum by these traders. According to this memorandum, the taxation policies should fall into one of the two categories only; either in the residential or in commercial one. However, if the government wants to impose higher taxes, then they should do so in a proper order. It must remain in limits.

The president of the district Vyapar Mandal, Gopi Chand said that government should realize that traders are already going through tough phase of inflation. Higher taxation would make their survival tougher.

The main participants of this rally were Ram Kishor Aggarwal, Sunil Goel, Rajiv Aggarwal, Dhanesh Singhal, Shiv Shankar Rathi, Rajdev Tyagi, Shanti Swarup Sharma, Pawan Sharma and Ashok Chawla.

Real estate demand revitalizes

The global economic slowdown has provided end users a unique opportunity to buy their sweet homes as prices in many areas in National Capital  Region have fallen steeply. Apartments are now available in some markets at almost 50 percent of the prevailing price a couple of years ago. The average price in Gurgaon has fallen by almost thirty percent and in Noida by more than fifteen percent in last two year.
According to PropEquity, Noida and Faridabad demonstrated high absorption primarily due to launch of affordable housing projects. The projects of Jaypee in Noida and BPTP in Faridabad were primarily driving the high absorption values in these cities with these developers commanding more than seventy percent of the market share for the period of Jan-Jun ’09. Noida maintained its top position in NCR with the launch of 7,032 units, and beats Gurgaon by a large margin of over 2,300 units.
However, the slowdown had its effect on the timely delivery of apartments. Unavailability of finances and lack of demand have forced developers to go slow in implementing projects, which were launched earlier. According to the report, amongst the cities witnessing the maximum number of delays in project completion, Ghaziabad and Gurgaon had 71 percent of the projects under implementation falling behind schedule.