Among fast track list of 13 towns Chandigarh was also included in in smart cities projects.  Estimated cost will be around Rs 6,200 crore. The aim of smart city is to maintain the comfortable living and sustainability of the city.  Baldeo Purushartha, municipal commissioner of Chandigarh Municipal Corporation and CEO of Chandigarh Smart city Ltd.

The main focus is on Area-Based Development and pan-city development plan. Purushartha says sectors 17, 22, 35 will be developed as smart sectors of the city. The aim of Pan-city plan is to improve safety and public life, smart and integrated e-governance and livability.  The internal areas of sector 17 will be made vehicle free zone.  Residents will receive 24×7 water supplies, smart meters for electricity, water consumers, personalized mobile app services to accesses facilities.

Jan Marg, one of the central lifelines of the city, will be pedestrianized on weekends – art fairs, yoga sessions, sports and street shows will be organized here and food stalls set up.

Mr. Purushartha says‘’ Plan also have multi nodal command and control center to control water , call police, fire, ambulance, disaster management, fire systems, more e rickshaw which will replace diesel and petrol rickshaws, , buses will be electric and battery operated, food courts, street lights, poles lights, solar based LED, Urban design for plazas and solar plants on rooftops .’’

According to Purushartha both projects will be completed in the period of 2 years.

Estimated cost will be around Rs 6,200 crore, for pan city proposal Rs 250 crore and for ABD (area based development) Rs 5,950 crore.

27 members of NAREDCO a builder’s body have promised to invest Rs 90,000 crore in Haryana in coming next 5 years, by realty majors DLF and M3M.

The memorandum of understanding were contracted between the members of National Real Estate Development Council and the government of Haryana in a newly conducted summit named Happening Haryana Global Investors Summit in this year of March.

DLF promised to invest Rs 20,000 crore while M3M Group will invest Rs 45,365 crore in next 5 years.  Top 10 companies like Suncity Project with Rs 4,662 crore, Orris infrastructure with Rs 8,000, Satya developers with Rs 2,300 crore, Ansal properties and infrastructure with Rs 2,370 crore, Jindal Reality with Rs 1,800 crore, Express projects with Rs 1,500 and Conscient Infrastructure with Rs 1, 210 crore investment.

Praveen Jain, president of NAREDCO said that the main focus is on affordable housing in Haryana including investment in residential and commercial sectors.

Realtor’s body has wished to central government to include Gurgaon in 1-00 smart city project.

Haryana Government has decided to increase floor area ratio to double for construction buildings in the area of surroundings proposed large extension of Metro lines in Gurgaon.

NAREDCO has witness changes in top level recently. The new chairman of realtor’s body Rajeev Talwar in April, CEO of DLF, Parveen Jain , was elected for the post of President of the NAREDCO in last year of September, CMD of Tulip Infratech.

According to CBRE property consultant Delhi’s Connaught Place has dropped mark to become the world’s seventh most valuable office destination.

CBRE (Commercial Real Estate Service) said “New Delhi’s CBD (Central Business District) of C.P (Connaught Place ranks 7 Th most highly expensive major office market in the world, with annual occupancy cost of United States Dollar 149.71 per square fee

With prime ownership costs of United State Dollar 290 per square feet per annum Hong Kong became the huge priced office market, pursued by London Central with yearly occupancy cost of USD of 262.29

On Beijing Finance Street is on 3^rd, Beijing Central Business District is on 4^th and Hong Kong west Kowloon is on 5^th position.

Top 10 most costly office markets are Tokyo, London, New York and Shanghai

In ranking given by CBRE declared last December, London Central West End was given no. 1 position while Delhi’s Connaught place scores 6^th position.

“Commercial real estate market in India has observed positive development over the past year. At 7 rank C.P (Connaught Place) attracting constantly occupiers and observes solid sublease activity for space for front office.” Said CBRE South Asia Chairman and Managing Director Anshuman Magazine.

He said” Connaught Place central location and comfort connectivity to attract reputed big corporate offices like financial institution, mainly banks and engineering firms”.

Anshuman Magazine said, Due to satisfactory supply of quality space India has always been an attractive destination for many MNCs to broad their operations or set up new offices.

In Pacific Asia major office ownership price grew faster than universal average.

Including Jakarta and Singapore some Southeast Asian markets registered decline.

Commercial Real Estate Service step ownership cost for major offices space in 126 markets universally. Among top 50 top expensive markets 20 in Asia Pacific,20 in Europe, 10 in Americas.

India’s Test Captain Virat Kolhli has invested Rs 34 crore in a super luxurious apartment situated in Worli Mumbai.

According to Economic Times the area of apartment is 7,171 square feet from sea view, unit is on 35^th floor of the apartment.

Yuvraj Singh also buys an apartment on 29 Th floor in the same apartment.

Economic Report source says “The talks to buy apartment was going on from many days but transaction has been done recently. The pent house is under construction but area is as much that 5 bedroom set can be made easily”.

The apartment of Virat’s is not ready for possession now it will be completed nearby mid of 2018.

After 3 months mid-day reports two directors of Varun industries named Kiran Mehta and Kailash Agarwal fooled 10 banks to the tune of Rs 2,555 crore. Among 10 banks one bank named Indian Bank has decided to put up their flats for auction.

For e-auctioning of the flats 21 July date has been selected by bank’s Asset Recover Management Branch. The coming nominees can certify the properties on 13 July, followed by documents on 14 July. Area of flats for sale is between 722 to 775 square feet each.

While the asset cost will be Rs 15.25 crore a coming nominees is allowed to increase the offer by Rs 10 lakh. The EMD (earnest Money Deposit) by a bidder has been set for each flat is Rs 50 lakh.

Banks’s Fort branch kept flats in the custody. By saying that the flats are for sale, senior officer of Asset Recovery Management said, “We are going through the agreement. We have already sent the notices to the directors. They didn’t respond, we are doing these all to restore our money by selling the property they had kept us as mortgaged.”

According to experts this auction is just like Vijay Mallya’s properties; even these properties may not find any investors, as 4 flats have been emerged into 2. Experts of realty said that cost of 19 Th and 20 Th floor in Vardhman Heights in Byculla, cost at Rs. 15.25 crore.

In 2016, Bengaluru has faced 28% deficiency in office space. According to top consultants of real estate the demand goes on very high in the Country’s tech capital, in between 2016 developers were incapable in supplying Grade A office.

Ram T Chandnani, managing director, India, Advisory and Transaction Services, CBRE South Asia said, The City will observe supply of approx. 9 million by end of December 2016 opposing 12.5 million square feet consume in 2015.

Till middle June 2016, Bengaluru has consumption o 6 million square feet of Grade A office space, Ram T Chandnani said. Bengaluru witnesses high demand of IT/ IT eS sectors, healthcare, banking, as well as the e-commerce start-ups.

Last year the e-commerce sector assumed for 6% of total consumption. The share of e-commerce companies will trip to 5% of total consumption of office spaces. Chandnani added.

Chandnani said to FE on the sidelines of Core Net Global’s annual conference on Wednesday “Bengaluru has developed as the biggest office market in India by attracting high demand from information Technology and combined industries occupiers. Presence of big floor plates, impressive rentals and support of government has made Bengaluru as an attractive destination. Not presence of ready to move in space set to drop in net consumption this year,’’

On Thursday, Haryana Chief Minister Manohar Lal Khattar directed to check status of residential and commercials projects who have been registered license recently. This step was taken due to complaint against real estate developers goes on increasing day by day.

In district injustice committee held in Gurgaon, complaints of home buyers were listening, after then Chief Minister ordered deputy commissioner of Gurgaon to gather all details of projects which are under construction of different developers.

By following numbers of complaint against the company, the State government is taking stock of Unitech’s benefits and duty in the country and also in abroad.

T L Stayaprakash deputy commissioner said “Chief Minister Khattar has asked to collect all component of projects from all the developers who has been given license in past to develop residential and commercial projects by DTCP (department of town and country planning).”

He also said the plan of all individual projects like number of units, number of towers, total number of sold units, details of collected payment from home buyers and current condition and status of project will be collected.

If implemented then it would be a drastic change in a real estate sector by bringing transparency in it, which has largely remained uncontrolled. DTCP provides licenses are given to developers on the basis of handover of details of land and licenses are issued for group housing societies which are developing, commercial project and plotted colony. DTCP do not keep any records at present like number of towers, units. Sold units number and collected payment from buyers for the project constructed on criteria of license given by them.

This step could relief to allotters of housing projects under various stages of development.  It has been seen in many cases buyers have to wait very long for possession still after they have given most of the payment. The buyers are getting restless as further construction of many projects has stopped and many of these projects for last 2 years and builders are not giving satisfactory reason for delay and deadline for the total construction completion of projects getting delayed.

The directions of Chief Minister out after hearing to the problems faces by home buyers of Emmar MGF Palam Hills at sector 77.     Home buyers of Emmar MGF Palam Hills pleased before CM that the developers is delaying hand over the key on time and is cheating intentionally. This project has 1100 flats in total 65 towers and was launched in 2010 March at sector 77, Gurgaon. As per commitment on agreement developer should delivered flats in 36 month, including 3 months grace period from the date of start of construction, which expired in February 2014,” said Pankaj Kalra, home buyer and complainant. He said buyers have already paid 90-98% of the cost by the end of 2013, but project is far from completion till date.

Kolte-Patil Developers Limited, a Pune based realty firm has promoted Gopal Sarda as executive officer chief for the Mumbai region and Group President, 7 months after Sujay Kalele quit from the designation of CEO of Company.

His role will be highly responsible towards business development, marketing and sales, relations with investors and corporate finance, the company said in a Bombay Stock Exchange filling.

Sarda, a chartered accountant has placed in the company in year 2010 as on designation of senior manager of strategy and corporate finance. Earlier he was on the post of region business head of Mumbai operations.

Present CEO Sujay Kalele is stepping toward to start his own real estate company which will work as manager of development, marketing and sales of projects for other builders.

India’s second largest reputed developers have again show the reason for their positive leadership quality in the real estate market by becoming the winner of FIABCI World Prix d’ Excellence award this year. This award is considered to be the ‘’ Oscars’’ of real estate market industry.

During the FIABCI 67^th World Congress winners were honored at private joyful ceremonies which were attended by hundreds of guests from various 40 countries. This year’s World Congress took place in Panama City which is transcontinental country in between North and South America.

About FIABCI        

The International Real Estate Federation is a field network of real estate professional worldwide. FIABCI gives golden opportunity for real estate industry professionals interested in obtaining knowledge, sharing of information and arranging international business with each other. FIABCI            is the most repetitive representative management of the real estate sector in the whole world and control special advising status with the ECOSOC (Economic and Social Council) of US with the total 65 member in countries, including 100 professional Associations, 3000 individual members, 65 Academic Institutions from all expert professions of the real estate industry.

About Prestige Group

Prestige Group was started in 1986 and in present it is second largest developer in India. Headquarter of this company is in The Electronic City of India i.e. Bangalore, while its projects is in various cities of South India including Chennai, Hyderabad, Kochi, Mysore, Mangalore and Goa, completed across 200 projects here. Market Capital of Prestige Group is Rs 5,328.75(Bombay Stock Exchange, as of 14 March 2016). This listed company is the only CRISIL DA1 rated developer in India. Projects of this company are situated near well developed areas. The company has develop luxury residential and retail market development in South India with various landmark developments like Prestige, UB City, Acropolis, Prestige Shantiniketan, Prestige Golfshire, Prestige Silver Springs in Chennai.

With buyer thought subdued, developers are finding it tough to sell apartments/flats, implying prices could be correct a proper bit.

Experts say there are very few takers for homes, mainly high-end-ones-even if these are ready to move in. An assessment by Colliers India notes, “Huge available inventory and new upcoming supply is undermining short term appreciation in capital values, both in the primary and secondary market.”

Home prices are very low in cities such as Pune, Mumbai, Delhi- NCR than they are were in 2015, Data shown by Cushman and Wakefield show prices have corrected in certain pockets.

The second phase of project of Godrej Properties Trees in Mumbai has not get better response only 100 or near to it has been booked which is very less than the first phase of project. The listed company isn’t confessing the numbers of flats/apartments on any offer.

Sobha Developers has lost its FY16 with quarter of March work performance twisting out to be very weakest in the last four.

Sales in NCR region are very much slow. In Gurgaon the demand of Vatika and Tata Housing property has been simple and quiet.

Data from property firms show launches are getting up step in Mumbai, Pune and Bengaluru. In period between Januarys to March launches were constantly higher by 32% in Bengaluru, 34% in Mumbai and 12% in Pune. A Colliers India report said. Cushman & Wakefield estimated new launches have escalated by 25% year-on-year, after falling over 60% in the past two years. Criticism following the March Quarter conclusion indicates companies are opposed away from sales projections at best they’re talking of a status quo. Real estate business has been better in Bengaluru; Prestige Estates and Brigade Enterprises have been easy to blow through sales.

A big  offer in property tax could be withdrawn as the standing committee has shown its eagerness to revise the general’s body decision taken in February to set up funds for 24×7 Water supplies.

Balasaheb Bodke, standing committee chief said that “The proposal has been propose before us. The administration will be call in before taking a final call. Now, it has been sent for a review. The property tax department will take a call on it and send it to us.

For 2016-2017 economic, the general body in February accepts a 12% hike up in water tax, which is a unit of property tax. There is also a plan to hike up the tax by 15% in every economical term from that day till 2020-2021. Congress, Maharashtra Navnirman Sena and Shiv Sena had clashed the move but the ruling Nationalist Congress Party, with the support of Bhartiya Janta Party, maintain to clear the outline.

In 2016 January, the PMC administration had offer a boost of 50% in water charges, describing that the funds hence develop will be used for giving fair water to all. The offer also describes that the commissioner will have the upright to increase it by 5% for the coming 30 years. The existing committee in February made changes in the offer and preferred 12% hike for the year 2012017, followed 15% hike up whole year 2020-2021 and right to the commissioner of municipality for increasing 5%tax annually till the year 2047.

The ordinary body made more changes to the offer. It rejected the plan of giving the civic administration to the right to increase the tax by 5%every year till 2047, but approved other demands.

PMC officials say the administration will have to check the feasibility of changing the decision. The offer has already been accepted by the ordinary body. The opinion about changing in the tax pattern again will have to take at the ordinary body. After standing committee’s approval, the proposal will be sent to the general body for a final stamp. Only then the proposal could be discarded.

If you are thinking in investing in luxurious apartment in Delhi – NCR, then take a look on Experts opinion. According to Experts the fall of prices, on with discounts on offer, makes for stable investment decision for future. He also said that the holding for prices to come down further may not be sensible.

Santosh Kumar CEO-operations and international director JLL said “In the last few quarters, there is dullness in prices with increasing discounts and motivation actually causing decrement in housing prices. Assume further discounts may not be a sound decision as actual unsold housing levels in few pockets of Gurgaon and Noida will not allow for further price reduction,”

Experts say the coast of luxury and comfort housing units are habituated to rise in Gurgaon city while lowest price in Noida may stable due to constant delay in deliveries and legal trouble in projects. Luxury housing in capital is largely bounded to the resale market that offers builder floors and villas in pink areas.

The bear price for properties is largely due to best location not due to inbuilt facilities, which is in Gurgaon and Noida. In Gurgaon Developers like DLF, Bestech, and IREO have launched their luxury and advance projects, while in Noida Developers like Supertech, ATS, and Shobha are developing these luxury advance projects.

While investing in luxury advance projects investor should overview projects which are likely to be completed in coming next 12-18 months to reduce the risks related to possession and on time delivery of projects. Facilities being offered, complete layout, exact location of the property, reputation of builder and whole track record should be given a thought too.

Bhubaneswar will soon receive very smart gift under smart city project. This gift is that Bhubaneswar will soon receive World Trade Center (WTC), a hub of private and government offices, at Satya Nagar.

According to sources the blueprint for the project Satya Nagar Institutional Core is in progress. The Bhubaneswar Smart City Limited is painting out plans to well establish 48-acre area within the surroundings aside from the World Trade Center, 2 Commercials and 2 superiors hotels will come up.

Vice Chairman of Bhubaneswar Development Authority (BDA) Krishan Kumar said” The Odisha Industrial Infrastructure Development Corporation (IDCO) has found the land. Same like the current IDCO tower, which has many financial institutions, the WTC will have big offices. We have still to decide the height of the WTC tower and the number of floors it will have”.

The reputed Real Estate developer, Shobha Limited started the handover of key process of the 1^st phase of its flagship project, International City, Gurgaon in NCR. This project is spread in 150 acres; International city is a safe and secured, low- frequency villa community that offers presidential villas, super luxury villas and duplex villas.

This project is located in Gurgaon at sector 109,106 and 108, at the end of Delhi and very near to the Indira Gandhi International Airport.  In 2011 project was launched, marks the attack of Sobha Limited in Delhi- NCR region. The project has received many acceptances, most recent renowned Luxury Villa Project of the year award at the NDTV Property awards in 2015.

Against the challenges stand by a suddenly slowdown in real estate sector, mostly in the NCR region, Sobhalives up to its promise of handover international quality products within set time period.

J C Sharma, Vice Chairman and Managing Director of Sobha Limited said, “Traditionally real estate has been geography specific. However, trends have been changing. For us, with our headquarters in Bangalore, it was  very challenging to step into one of the biggest markets in North India. We made an ambitious entry into the NCR market in the year 2011 with the launch of our International City Project in Gurgaon. We are very pleased to announce the successful delivery of row houses in the project. In a difficult operating environment, our international quality products delivered on time is a reflection of the Company’s determination to fulfill its commitments.”

International City is a well-planned and well maintained project with all luxurious infrastructure facilities. The project has inbuilt club house spread in 20 acres, serving best in sports and social comfort. The project is also environment friendly as it has STP, rain water harvesting, power backup and organic waste convertor.

With the entry of Godrej Properties Ltd. (GPL) into the Real Estate of Noida , the living in Noida is going to be more advanced and high tech . The company has a plan to advance a golf centric township in Greater Noida Sector 27.

This modern golf township spread over in 100 acres, area of this project will be approx. 370,000 square meters of economic area. This major township involve of 9-hole golf course and village between other lifestyle basic amenities. This project situated close to very best location like Pari Chowk with easy connection to Noida- Greater Noida Expressway. It is also close to upcoming metro station and knowledge parks.

GPL’s has announced its opening in Noida Real Estate market in the month of January.  This is Godrej’s first project in Greater Noida and 7th with the NCR region. In 5 years after entering in NCR real estate market, GPL’S has settle itself as one of the reputed market leaders in Gurgaon and hope to reflect this same success in other parts of NCR.

Mr. Pirojsha Godrej, Managing Director & CEO, Godrej Properties said, “We are pleased to announce our entry into Greater Noida. Greater Noida is an important part of the NCR market and this project addition fits well with our strategy of deepening our presence across the country’s leading real estate markets.”

Inventories of luxury apartments in Mumbai remain high total 2,300 apartments are unsold. Minimum price of these flats are of RS 10 Crore and estimated price to RS 23 Crore. These apartments are very spacious and have all facilities of comforts.

Source from Prop Equity mentioned the unsold inventory in projects coming up in just the five micro markets of tony south Mumbai — Lower Parel, Mahalaxmi, Mumbai Central, Prabhadevi and Parel, stands at a staggering 928 apartments. Because unsold inventory is in advanced stages of construction, some of it commands a premium to the launch price. The value of unsold inventory in these five micro-markets could be in the range of R10, 000 crore.

Some developers are reducing the sizes of the apartments to make them more affordable. Radius Developers, for instance, is building 350 sq. ft carpet area studio apartments at less than R1 crore for singles.

Area like Lower Mumbai Parel, Mahalaxmi, Prabhadevi and Parel, sales remains tepid. In South and Central Mumbai areas, apartment sizes are typically between 4,000 sq ft and 7,000 sq ft accommodating three, four and five bedrooms. At the very least, they cost Rs 10 crore or approximately Rs 25,000 to Rs 30,000 per sq ft. For ready-to-move in-projects, the cost is in the range of Rs 65000 per sq. ft to Rs 80,000 per sq ft.

Jaiprakash Associates including its branch Jaypee Infratech lacking some financial problem, both had unpaid principal and interest compensations of approx Rs 4,500 crore to banks at the end of March, said by auditor. Auditor MP Singh & Associates noted in its report that came with the company’s annual results announced late last month. Jaiprakash Associates ( JAL’s) interest and principal compensations were unpaid for up to 9 month means 269 days.

Jaypee Group, which has great concern in cement, infrastructure,power and real; estate, has been striving poor finances and has been enforced to sell many of its resources to run over a damage jerk. Real Estate projects of Jaypee Noida are running badly behind inventory. Lots of people who had booked villas, apartments and several plots before 5 years are still waiting for delivery. The delayed reimbursement occurred against the group transferring land bank and its headquarters to bankers to clear a part of loan.

The saving balance for the group is that bankers have not disclose the loans as non-performing credit against the major delay in repayment on the ground that Jaypee Group is scheduled to get Rs 15,900 crore for the sale of cement plants to Kumar Mangalam Birla’s UltraTech Cement. A loan is declared an NPA if it remains overdue for over 90 days.

Good news for those who haven’t paid property tax yet. The city municipal administration is likely to stretch the 5% reduction on property tax till the end of June.
The Bruhat Bengaluru Mahanagara Palike commissioner has sent a letter to the standing committee on taxation and finance to extend the tax reduction by a month. The BBMP Council will make this call in the next two days.
Tax payer rush into a network of turmoil on figure property tax after the Bruhat Bengaluru Mahanagara Palike manipulate the tax zones by drag some wards by a couple of scorethis year. Thousands of citizens couldn’t – and, in some cases, didn’t – pay taxes either due to a website problem or in hopeful wait for clarity on reconstitution of region.
“We hope the council will extend the tax rebate till June 30,” Chairman of board M Shivaraju accept to slow property tax payment in the first two months because of confusion around new tax zones.
In extension to Canara Bank, the BBMP has hold up with 4 more banks. This means taxpayer can make property tax payment in 400 bank branches in the city. “A BBMP nodal officer is set up in each branch to address taxpayers’ gloom. We’re taking steps to facilitate speedy processing of challans and receipts,” he added.

City and Industrial Development Corporation of Maharashtra (CIDCO) has sold a plot on Thursday through summons process in Sanpada at Rs 3.39 lakh per square meter, after this bidding CIDCO has set a new record.

Nivasti Developers LLP was the bidder. It proclaims the highest price Rs 3, 39,339 per square meter for 3,050-square meter for residential cum commercial plot in Sanpada at sector 13. The plot alone earns Rs 103 crore to CIDCO.

Among 20 developers some oppose for the plot consider that the plot could have earned more. They denote that the location of plot is one the well develop and best location in Navi Mumbai.

Haresh Chedda, the secretary of Builders’ Association of Navi Mumbai said that “The plot does not fall under the proposed international airport Zone and can be used for high-risers”.

CIDCO had called applications for the rent out of 4 residential and commercial plots in Nerul and Sanpada.

Nerul plot had received maximum price of Rs 2.82lakh per square meter in 2015. Shree Shawan Builders a city based developers had paid for 1601.78 square meter for both Residential and Commercial plot in Nerul in sector 44 A at Rs 2, 82,333 per square meter.

CIDCO swirl out Rs 319 crore through mandating of 4 plots, 2 of them plots are in Nerul and 2 in Sanpada. The other plot in Sanpada earns Rs 3, 07,555 per square meter.

Akshar Developers gained another plot in bid in Sanpada. Rs 3, 07,555 for 5,122 square meter at sector 13 in Sanpada.  A total 12 builders had struggle for the plot.

2 plots in Nerul were sold through bidding.  Nerul plots could not earn the price as it was habituated. The plot is at sector 13, the sizes of plots are 1,456 and 1,975 square meter. The prices for these plots were quoted Rs 1, 64,000 and Rs 1, 73,600 per square meter.

Dr Mohan Ninawe, senior public relationship officer of CIDCO said that “We have received a total 57 bidding for the four plots located in Nerul and Sanpada. CIDCO would receive Rs319 crore from leasing these plots.”

Faridabad city is getting treasure day by day as it was connected with Metro and some weeks ago it came in the list of fast track smart city.

Planning is going to convert city into service industries.  Intensions are being made to upgrade infrastructure of this city. It’s likely that people brood to Gurgaon which is also known as Millennium City will soon find a reasonable housing substitute here.

Last month Faridabad was constitute in the fast-track list of 13 towns that will be transformed into smart cities. A proposal of smart city was submitted by The Municipal Corporation of Faridabad beetling a cost of Rs 2,600 crore to the union ministry of urban development previous this year. The plan included area based development idea involving development of an area of 1,267 acres, including sectors 19, sector 20, 20 A, 21A and 21D.

The Plan includes reconstruct these sectors location Badhkal Lake. It adds 3 Metro stations, Metro yard, a railway station and 2 urban villages of Fatehpur, Arjondi and Chandela and two consistent urban slums like Sant Nagar and Friends colony.

The green rebuilding and renewal of the fading Badhkal Lake includes padding the lake with water which is prone to be done in 300 days. D R Bhaskar, officer of smart city project of Faridabad says that for all this an STP plant will be formed 2 km away and the pipeline carrying treated water will be tied to damage lake.

D R Bhashkar says the total cost of this plan is approx. 50 crore and will be completed in coming 2 years. Footpath for pedestrian and cycle will be constructed of 4 km length along the NH2.  Faridabad is listed among 400 railway station which will be developed.

RC Gupta, managing director of RPS group said that the Master plan of 2031 Faridabad is yet to be alert provision of around 35 new residential projects from which 5 to 7 are for industrial and institutional sector. Alongside the widening and construction of NH-2 to a 6 lane expressway that is under more prior stages of structure with upgrade the link with the Capital.

The cost of projects in sector 88 will be range from 44 lakh to Rs 46 lakh for a 2bhk, for 3 bhk it cost Rs 61 lakh. 2 bhk flat in an under construction stage, and this project will cost Rs 32 lakh. 2bhk flats for rent in Faridabad are affordable and are around Rs 10,000 per month and for 3 bhk rent is around Rs 15,000. “Earlier we would strike around seven deals, now we do barely two or three. Some people prefer Faridabad to Gurgaon because it is peaceful and affordable and the sizes that are available are bigger than projects in Gurgaon. Sizes of apartments in Faridabad range from 1200 sq ft to 2022 sq ft,” says Rajiv Bhasin.

Puri Construction plans to launch a 100- acre township in sector 88- – both plots and floors in couple of months. The company has so far delivered close to 1,000 units in the area and around 5,000 families are already living.

Facebook a very popular social networking site can now not only get you more likes and comments, it can also effect the price of your home if you try to sell one, say analysts.

Residence prices can increase through social networks like a virus and friends on Facebook can have too much of an impact on what one income for a home.

Researchers of United States National Bureau of Economic Research, Persons whose friends are admitting resident price hike were eager to pay extra for a residence.

Study has done by Facebook business analyst, Michael Bailey, Harvard University’s Ruiqing Cao and Johannes Stroebel and Theresa Kuchler from New York University’s Stern School of Business they united Facebook audit data with civic record clue on residence purchase.

New Zealand Herald reported, they looked at friends who were ‘’ geographically apart’’ and their social networks to asset the response.

The analysis showed ‘’ If people’s faraway friends were from places where residential prices rose by 5% heavy than normal in the last 2 years, they were more acceptable to purchase a residence by 3.1 %, paid for a house 1.7% larger and compensated 3.3% more for a given residence.

The case was excessive, matching,’’ likewise 520,000 housing purchases in country Los Angeles since 1993 to the social site Facebook account of the various residence clients’’.

The case study added, Only whose friends practice larger novel residence price raises were more assured about investments in property.

Flats in residential category and plots in industrial, institutional and commercial categories are on offer. The offer is launched by The Yamuna Express way Industrial Development Authority cast 5 housing schemes in its area on Wednesday.

Through lottery system authority has put 280 residential flats, Rs 11 lakh for 200 smaller units, 19 lakhs for 80 bigger units. Arunvir Singh, CEO, YEIDA said “These flats have been left over from previous schemes; they will be allotted on a lottery basis and are located in Sector 22D.”

YEIDA will sell off commercial plots in its area. For Commercial use for investors and business man these plots have been composed at a price of RS 34,080 per square meter. Technical bids will de decided on 30 June.  According to officials the scheme titled ‘Footprints for Commercial Use’ comes with controlled design features. Arunvir Singh said “The development and construction of building to be used for commercial use are being offered on a 90-year lease.” The plots will be maintained and developed by YEIDA, while further construction will have to be executed by the eventual assignee.

Total 106 institutional plots are also available for investors. The price of these industrial plots has been fixed at Rs 7,560 per sq. meter. These industrial plots are in sector 18, 20 and 22. Allotments will be done on the basic of first come first receive. 339 industrial plots up to 2,000 square meters in size are also on sale. These plots will be allotted at a price of Rs 6,405 per square meters and are located in sectors 29 and 32. Official said that the scheme will close on June 30.

Real estate in Bangalore is very high in graph of success and SNN Builders has prove it by completing possession of 2 million square feet superior residential project named Water’s Edge property from Essar Group at Hebbel , a fast developing locality in Bangalore , in a Rs 490 crore.
Along the attainment of contract, SNN Builders now ratify IBROX Real Estate Development, an Essar Group company that reserve the Water’s Edge project. It will take duty to replete and hand over the project within a fixed agenda. In a statement Essar Group said that the final deal price includes client needs.
Ramesh Agarwal, M.D of SNN Builders said that “His Company will soon relaunch and rebrand it in a way that existing customers and future prospects will be able to experience a product that will stand out in the Hebbal micro-market. “
Project which is under construction, for them the company would require additional R400 crore to complete the project. Work has been completed on two towers till but work has been stopped due to private affairs faced by the Essar Group, said by Ramesh Agarwal.
Mr. Agarwal said “this is a luxury residential project with tallest tower in North Bangalore. Projects will be completed in upcoming three and a half years with world class amenities. ”

Sahara Group has rolled out procedure to sell over 4,700 acres of land across India, which is expected to earn the group around Rs 6,500 crore.
Sahara is one of the top real estate holders in India, and claims that it owns around 33,633 acres of land bank.HDFC Realty and SBI Capital Markets have put Sahara’s land across 14 states for sale.

Earlier this month, the Supreme Court released Sahara chief Subrata Roy and group director Ashok Roy Choudhary on parole for four weeks.
The Sahara Group is predicting to cluster Rs 6,500 crore proceeds from the sale. According to market expert most of the lands are near agricultural and rural areas which could stroke the amount realized.

News daily has reported that Supertech expressway project –Upcountry, which is ready to move in, has been cancelled by the Yamuna Expressway Industrial Development Authority (YIDA), on the basis of submission of forged papers.

As per a report in the Times of India, “two successive CEOs” of the YIDA have pointed that Supertech

builder had submitted the revised plan which was a forged letter while suggesting that lawful action like an FIR should be lodged against the builder.
Case relates to a revision plan submitted in 2011 showing an allotment letter passed by office of “Secretary to UP government Alok Kumar” which gave permission to Supertech for building additional 15 acres of land.
The original plan was sanctioned in 2010 that allowed Supertech to build its Upcountry project spread over 100 acres in Yamuna expressway.After an audit and UP Joint Secretary’s confirmation, YIDA found that the revision plan letter which was submitted was actually forged document.

After then, YIDA cancelled Supertech’s Upcountry project that has left hundreds of home buyers stuck.