Thane’s rental yield increases

The year bid a positive farewell, Thane, as many infrastructure projects reached to the end point of their construction this quarter. This made the buyers and investors to turn their focus on Thane’s real estate market. When selling transactions slowed down due to demonetization, the rental market took a huge hike. The rental yield of the city rose marginally by almost 0.02%.
Property owners and investors took the bait and earned during this phase. Many reports of flats in Thane taking a huge rental price jump came. Among the various locations of Thane that have shown a high growth in rental yield in the past nine months, Kalwa stood on the top of the list with 13.7 percent growth, Kalwa was then followed by Kolshet Road with 12.6 percent, and then Patlipada with 12.4 percent.
These rises in rental prices indicate that people are ready to spend more for a perfect living; slowly but still increasing the margins. There has been a major rise in the records of State registrations and stamp department in Thane district regarding the registration of leave and license documentations.
According to a survey, the luxury flats on rent in Thane, costing Rs 11, 000 per sq ft and above saw the highest price rise.

RERA to be strongly implemented by Noida Authorities

Waiting for the most useful act for real estate, The Real Estate Regulatory Act is finally set to be in complete force from May 1 across the whole country. It is being said that when it is about Noida, the authority has planned all the residential plots in Greater Noida and Noida to be uploaded on the website with all kinds of details.

In a meeting with the home buyers of Greater Noida and Noida, it has been noted that they are being blindfolded by the builders and thus need transparency in whatever they invest in. Therefore, the CEO of Noida Authority, Mohan Prasad has now informed all the representatives of NCR Home buyer Association that all the details of each and every project, be it plots in Greater Noida, Flats, Apartments or commercial spaces, the complete details of the project needs to be provided and thus uploaded as per RERA Act.

Rashesh Purohit, the co-founder of NCR Home Buyer Association spoke about the new rule and the detailed specification given to them. He said that Noida Authority will have an actively running site in 30 Days where detailed specifications would be given for the projects which are completed, those which are still ongoing and further updates will be given about the new launches. The specifications will include the number of towers, area of apartments and all other construction details which are needed by the home buyers to make a positive investment.

The homebuyers are said to have presented a memorandum to the Noida Authority clearly stating that they want regular meetings with the Noida’s Real Estate Authority with a representative for themselves. They also demanded source to track a builder’s construction process as well as the progress with all the minute details like fittings, the safety measures to be installed, woodwork, marble fitting and a lot more. They also demanded a separate grievance cell for the home buyers as a part of Noida Authority.