In the NCR region, that is subtly attached to the capital region of India, Delhi there extends two expressways that are built to let the residents enjoy the great community and work from far off places while travelling through these roads. The eastern region has been accurately acquired by the 22km long through Noida and Greater Noida. The other one runs for 18km in the regions of Dwarka.
All these expressways are developed to join the regions of Delhi NCR in a better way providing the areas extending adjacent to them to the real estate developers to create more and more property in Noida and in Dwarka.
These lands were also supposed to be given to the developers who want to build commercial spaces and give away office for rent in Noida, Greater Noida, Dwarka, and Gurugram. This, however, made both the regions a large hub for the working class people who migrated here from all over the country. This gave a major boost to all the realty developers to build more and more residential complexes.
As soon as the areas were changing into residential complexes, the southern areas started to experience water and sewage problems. Developers were unable to provide their residents with the daily needs. However, the eastern region thoroughly enjoyed the regular facilities of water and sewage but could not gather proper funds. These developers tracked the funds from the farmers and this became a major reason to manage all the funds and thus fulfil the increasing demands of people. Also, after the demonetization process, those launched flats which were left in the middle of the construction period were unable to be delivered on the expected date of delivery. One Unitech project called Grande, located in Greater Noida was launched in 2007 and even after 10 years, it could not be completed due to inappropriate funds. Now as the government orders all the realty developers to increase the supply, these well-built flats would be sold at much lesser prices given its history of in accomplishment. These flats are built along with the Yamuna Expressway and were targeted towards those who wanted to have the luxury as they were built across an 18 hole golf course.
Due to these reasons and the post demonetisation effect where people just stopped thinking of following their dreams and the wish to buy a house vanished all of a sudden, lowering the rates seemed to be the only option. These low rates would fill the empty flats and would decrease the number of new flats that were to be constructed to meet the demands after the Union Budget of 2017.
After the utterly clumsy place of the capital region of India, Delhi and the densely overcrowded place for offices, Gurugram people are quite as well left with a choice of Noida. This is the reason that the residential sector of Noida Real estate is highly increasing since the past two decades. Noida is considered as a cheap and easy city to live in provided its easy connectivity to Delhi, Faridabad, Agra, and Haryana.
Noida has been considered as the most affordable place to live in given the high number of affordable flats here. There are many reasons that add to the fact but if we want to name a few we can easily do so by guiding the basic points.
The first one can be the extremely well maintained and thoughtfully built infrastructure. The infrastructure that has built the city is the basic reason for more and more citizens coming here. The excellent infrastructure makes it capable of being the next best thing in the world. The availability of lands for residential, commercial as well as infrastructural facilities is something that makes it top the list leaving Delhi and Mumbai behind.
Second reason is the reputed faces of developers who are eyeing in this place to make their new launches. Builders like Supertech, Unitech, Ansal, Emaar, MGF and now Godrej has made their new launches in Noida and Greater Noida. These flats suffice all the segments of the society and promise to be affordable with the availability of luxury.
Third and the most important reason that helps people to relax and invest in these lands is new rules against Forgery. New and quick rules have now been applied to the forgery cases of land. Earlier, the land disrupts were handled by the court’s jurisdiction which always tends to stretch such cases to a number of years, but now a sigh of relief has approached when all these cases are being handed over to the stamps jurisdiction.
The fourth best reason would be the easy connectivity of Noida to other regions like Delhi, Ghaziabad, Gurgaon, Agra. The major plus point Noida has is the rapid availability of Metro from Delhi to Noida. Also, the ongoing construction of Metro from Delhi till Greater Noida via Noida will add a golden point to all these and make it more convenient for those who travel till Greater Noida and will also decrease the traffic on roads.
The fifth point is for those who have a property in Noida or are living on rent flats in Noida. The major availability of marketplaces throughout Noida makes it very easy and accessible to live here.
Metropolises such as Noida are under scrutiny and major comprehensive plans are being drawn to build better infrastructure. The Centre is facilitating adequate amount of funds for urban local bodies in states to make cities more liveable by providing them more and more properties in Noida. “We are taking into account the, roads, water supply etc. and creating a major five-year development plan,” Naidu said while talking about Bengaluru, Pune and Noida cities. He stated that more and more 1bhk flats in Noida will be created so as to provide the urban localities the desired liveable surroundings.
State participation is the major key to achieving adequate infrastructure and it is therefore the essence of realising the ‘Housing for All 2022’ dream. Affordable housing will be a success only when these type of states perform. Around 23,000 houses still lie vacant in Delhi alone because of lack of infrastructure and therefore their buyers. “Where there are people there is a shortage of houses and now there are houses but nobody interested to reside in them. It is proving to be a grave problem,” said Naidu. The main infrastructure concerns that needs to be seriously looked after are drainage, sewage, main roads, byroads, rain water drainage, maintenance of water bodies, etc.
It is now supposed to be joint effort by the Centre, states and local bodies. People only set their keen eyes on better quality and good services. If the states can figure out a method to provide the correct measurements then there’s no going back. “They should try and study the development patterns of several states. Learn from other’s mistakes,” suggested Naidu.
Some construction laborers in Noida turned violent. They alleged that they were not given payment for a few months, leading them to terrible distress.
NOIDA: Construction laborers, alleging a developer for not paying their wages, turned violent on last Saturday. The violent laborers set four vehicles on fire, besides damaging the developer’s office. Continue reading →
Vertical development has become necessary due to the land scarcity and increasing housing demand. This has boosted elevator industry.
Vertical development remains one of the best options to meet the surging housing demand. In fact, due to land scarcity, it has become necessary than optional. Meanwhile it has boosted the growth of elevator industry as well. Continue reading →
Delayed projects have hit the NCR residential market. Due to the delay of projects the home sales have dipped in the NCR.
NCR residential market is affected by construction delay.
DELHI-NCR: The prospective buyers are nailed by delay in projects. As per a recent report by Knight Frank states that new launches in the Delhi-NCR has fallen by 31%. It has adversely affected the NCR residential market.
As per the report, NCR residential market has nearly 1,40,000 unsold inventories. Out of this, over 27% is under construction.
As per the Knight Frank India report the 33,500 units were launched in the second half of 2012-13. This shows a fall of 31%. Global property consultant firm warns that the launches will see slowdown in the coming months too, affecting the largest residential market.
Developers are finding it really hard to complete the projects. The escalating prices of raw materials make construction costlier. This prompts the developers to invest more. Difficulty in finding sufficient fund is thus another reason for delayed projects. Continue reading →
Gurgaon is without any doubt one of the best property destinations in the Delhi-NCR.
Gurgaon is one of the top realty investment destinations in the NCR.
GURGAON: There are many hot realty destinations in Delhi-NCR. Noida and Greater Noida, Gurgaon, Ghaziabad, Faridabad, etc. are some of the most popular property destinations in the NCR. However the most popular one among all these hot destinations is Gurgaon.
A recent report by Bank of America Merrill Lynch report stated that home sales in Gurgaon have fallen in the first quarter of 2013. It adds that home sales have picked up across the subcontinent.
Home sales picked up because builders launched new projects in lucrative prices. Discounts were offered. The situation was all the more boosted by the expected rate cut on home loans.
Though home sales in Gurgaon did not pick up, the property prices are not affected. The lower demand for housing units has, in fact, no effect on the home prices. Prices rose during the period by 4 to 5%. Continue reading →
Real estate in Noida and Ghaziabad is likely to be boosted as finally the Authority nods for the NH 24 widening.
NH 24 widening will boost realty in Noida and Ghaziabad.
The authorities have approved the plan to widen Delhi-UP link road. This will take the hectic traffic away and will boost the realty in Noida and Ghaziabad. Under the new NH 24 widening plan, the stretch from UP gate to Dasna will be widened.
The proposal to widen the NH 24 stretch came four years back. Since then it has been waiting for the approval of the authority.
The link road, besides taking away the traffic-jams, also will boost the realty in these cities. It will boost the realty market of Noida and Ghaziabad. As part of this project, the UP Gate to Akshardham stretch has already been converted to eight lines.
However, as the road gets closer to Ghaziabad, it becomes more narrowed. The narrow roads are often places of traffic-jams. The commuters find it really hard to reach Ghaziabad due to this higher traffic.
With the decision to widen the entire NH 24, it will be easier to reach Ghaziabad in near future. To maintain the flow of traffic, the Authority plans to construct a few under-passes too. Continue reading →
Noida and Greater Noida development authorities have warned the default developers. The authorities have asked them to pay the due amount or to be ready for facing severe actions from the part of authority.
Home buyers are affected by the new decision of Noida Authorities not to sanction the layout plans of default developers.
It seems there is no end for flat buyers in Noida and Greater Noida. The latest registration hurdles has become a pouring of oil to their already- burning issues.
Those builders who have due-payments will not be allowed to register flats in the name of flat buyers. As a result those who have booked flats in Noida and Greater Noida will be troubled.
According to the latest reports, available with the authority, the government has lost Rs.4000 Cr in the form of default payment. Around sixty developers have not paid back the due amount.
Speaking on the issue Mr. H K Verma, additional CEO at Greater Noida Authority, said that the authority will not issue completion certificate to the default developers. He added that layout plans also will not be approved.
Around sixty builders are to pay the two authorities Rs.6000 Cr. The list contains some of the top and well renowned developers.
Noida flat buyers see no ready to-move-in home ahead, but barren land.
Mr. Verma informed that the authority is forced to take such harsh stand. It has to find sufficient fund for compensating the farmers. On the other side the Authorities are facing a severe financial crunch now.
Considering the problems of the flat buyers, the Authorities were thinking of not passing any such orders. However now they have no option to tackle the situation in which the Authorities are to pay huge amounts to the farmers as compensation.
Several notices were issued to the default developers. However the builders did not take any action or take the notices seriously. This prompted the Authorities to take tougher stand against these builders. Whatsoever, always the burden is upon the poor home buyers. Their wait to own their dream homes seems to get longer with this new issue.
Offering higher returns to the investors, properties in Delhi NCR remain one of the most sought after options of investment. Investors in the Delhi NCR are keen to invest even on residential plots as well.
Investment in Delhi NCR properties increases as it offers better returns to the investors.
Delhi NCR is one of the top real estate investment destinations in India. The city offers higher returns to the investors and so there are many investors who remain keen to invest in the properties in this region.
According to a recent survey, nearly one-fourth of the property investors are attracted to Delhi NCR which is second hotter destination after Mumbai. The area offers around 90% of returns to the investors.
Among the investment options in the Delhi NCR, Dwarka Expressway Corridor is the best and most sought after real estate investment destination. The area’s growth is well-supported by the infrastructure development and the location advantages. Continue reading →
With high paced infrastructure development and growing transportation facilities, Faridabad is slowly emerging as one of the best realty locations in the NCR.
Faridabad real estate booms along with widening of Highways.
Faridabad has already become a hot spot for the realty players. Many of the most noted real estate developers of the NCR region have their projects in the city now.
Though the city is facing hard-hearted competition from other neighboring cities like Gurgaon, Noida and Greater Noida, it still has achieved a place among the hot real estate locations in the NCR region.
Compared to other neighboring cities the city is more suitable and demanded by middle income class group. Viewing the increasing population level; in the city Haryana Urban Development Authority has launched a 20 year development plan for the city. Continue reading →
Noida Authority has recently found out that nearly fifty real estate developers are not paying the due payments to the Authority. It is estimated the government loses around Rs.3000 Cr due to the default buyers.
Many Builders are identified by Noida Authority as default payers.
BSP government had made it a rule to pay a mere 10% of the total amount for attaining land parcels for ‘group housing’ projects. This scheme was introduced with a plan to make Noida an affordable home-destination. However, recently, the Noida authority has found out that many developers have stopped the payments.
Realizing that many developers have skipped paying off the amount prescribed by the scheme, three Gautam Budh Nagar Authorities plans to amend the scheme. Sources close to these authorities said that the amendment may be applied in their next board meeting. Continue reading →
National Green Tribunal recently prohibited the use of groundwater for construction- purpose. After the order the builders of Noida and Greater Noida have halted their projects.
No more groundwater for construction- National Green Tribunal’s Order prohibits the Noida builders to use groundwater for construction.
National Green Tribunal (NGT) recently prohibited the builders from drawing groundwater for construction purposes. After the order the builders of Noida and Greater Noida have decided to halt their construction works.
The NGT Order was released on last Friday. The builders said that they will have talks with the Noida Authority soon to clear out the authenticity of the order. Continue reading →
With the improvement in infrastructure, facilities and connectivity, real estate in Ghaziabad is growing faster compared to Noida.
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 →
Noida Authority has unearthed Real estate scam worth Rs.3800 Cr in Noida. The real estate scam occurred in 2011.
Real estate scam strikes Noida again.
Noida real estate is shocked as the Noida Authority unearthed a bigger real estate scam. The scam occurred while BSP was ruling the state. The BSP government had leased three lakh 81 thousand sq. m. land to three private companies and some individuals.
Noida Authority has already removed Nayab Tehsildar. Further, the authority has demanded the suspension of Noida’s additional district magistrate (land). Noida Authority is to file FIR against them. The investigation against them started soon after the BSP lost its reign. Real estate land scam took place in the year 2011.
Sources close to Noida Authority reveal that the scam involves three officials of higher grade. They are Harish Chandar, a PCS officer who was posted as secretary, Tahsildar Ajay Shrivastav and Nayab Tahsildar Manoj Kumar Singh. Continue reading →
Real estate is in high demand for construction laborers. Labor shortage in the real estate sector creates higher trouble to the real estate developers.
Real estate developers find it difficult to finish their projects on time without having sufficient laborers. The real estate sector has become the second best employment -provider in India after the Information Technology. However some reports say that a few real estate developers offers cash advances to the laborers for getting them on to the work site. Continue reading →
Allahabad High court removed CEO and Chairman of Noida. The appointment of Chief executive officer Sanjeev Saran and Chairman Rakesh Bahadur IAS will stand cancelled. Both of them will have to surrender their positions.
CBI to investigate into Noida Authority Case. (Image source )
Mr. Sanjeev Saran and Mr. Rakesh Bahadur were appointed sooner than the Samajwadi Party rose to power in U.P. Mr. Bahadur was earlier the chairman of Greater Noida and Yamuna Expressway Authorities.
The duo had been alleged of allotting lands to the real estate sharks. Nearly 14 plots of real estate land were allotted at comparatively very lower price. This act caused the state government a loss of Rs. 4,700-crore. Continue reading →
Patel Realty India Limited (PRIL), a subsidiary firm of Patel Engineering, is all set to invest 75-Crore in two real estate townships in Hyderabad.
Hyderabad Real Estate to Get Luxury Oriented Smondo From Patel Group (Image Source )
Mumbai-based Patel Engineering Limited plans to invest 75-Crore in two real estate township projects in Hyderabad. The Mumbai-based construction firm is specialized in hydropower generation and irrigation. Continue reading →
Shahrukh Khan –widely known as SRK got a new endorsement from Mahagun an NCR based real estate developer group.
Badshah of Bollywood Gets New Endorsement from Real Estate Firm (Image Sr.- flicker)
Endorsements always act as Extra Avenue of income for most of the Bollywood stars other than acting in films. Most of these endorsement deals bring a huge amount into their bank accounts. The rate of amount varies according to the rating of the star. Normally bigger stars get bigger amounts and it comes down in the order of hierarchy.
Latest of all Bollywood star endorsements is the SRK’s endorsement with an NCR based real estate developers Mahagun. Continue reading →
Sand being one of the essential elements which determine the overall cost of production is illegally mined at higher level. Real estate constructions in Noida now depend highly on this illegal sand mining .
Illegal Sand Mining in India causes environment troubles.
High pace developments taking place in the real estate industry causes high level land looting and illegal sand mining in Noida. Illegally mined sand is carried on to the construction sites on tractors. This has become a very common sight these days in Noida and Noida Extension. Continue reading →
Brys Group announced their plan to begin the construction of 300 m. tall Brys Tower Noida in January 2013.
Noida real estate gets another tall residential project with the launch of Brys Tower. This is an indication to the growing land deficiency in Noida.
Brys Tower Noida
Brys Group one of the leading Delhi-based real estate developers, announced their plan to launch a residential tower of 300 meter in Noida. This can be considered as a sign of growth of Noida real estate. Noida real estate is now faces shortage of land for bigger residential projects. Launch of Brys Tower announces the arrival of new Noida residential projects with another standard. Continue reading →
Noida real estate construction particularly some residential projects, received a stay from the Allahabad high court. Considering the petition of over fifty farmers from Sarfabad village, a neighboring village of Noida Allahabad high court gave the verdict. As per the stay residential projects which spread over six hectares of land in Noida Sectors 120 and 75 will be standing still. Continue reading →