Pay more for home in Noida and Greater Noida

About 6.5 lakh people, who have bought property in Noida are likely to pay more for it as the realtors will levy additional charge soon.
Advertisement

Realtors will levy additional charge on home buyers both old and new because the Noida authority is planning to recover Rs. 1800 crore from builders. The authority has distributed Rs. 1800 crore as hiked 64% land compensation to villagers of 39 villages following an Allahabad high court’s October 21, 2011 order.

“We are working to figure out as to how much amount we should charge from realtors to recover Rs. 1800 crore distributed to farmers as per HC order,” said Pramod Kumar Agarwal additional chief executive officer (ACEO), the Noida authority.

The Noida authority is also likely to charge additional money from those, who are old allottees including 30, 000 owners of plotted bungalows, and 34500 owners of flats built by the authority itself. Additional money will have to also be paid by 1.5 residents, who had bought flats in noida from realtors, and now are staying for long said officials.

Home-buyers, who have booked roughly 5 lakh flats in under construction private group housings in Noida will also bear the brunt of hiked land compensation said officials. The Noida authority has also approved a proposal in this regard in its recently held board meeting.     

“We have made it clear to all realtors on our forum- CREDAI that this additional compensation will be taken and paid to authority back as hiked land compensation fund. We will not levy any sort of builder charge to benefit buyer.

The authorities will have to do it because of HC order. And it is unavoidable,” said Manoj Gaur president CREDAI (Western UP) and MD of Gaursons.

The Greater Noida authority has already levied additional burden of R 2014 per sqr mtrs on realtors in its area.

“A buyer will have to pay Rs. 70-100 per sqr mtrs in Greater Noida. Noida rates are yet to be finalised. A flat owner of 1000 sqr ft area house in Greater Noida will have to pay Rs. 50-60, 000 more on possession,” said Gaur.    

Additional charge will also be levied on industrial and institutional land forcing educational and industrial institutions to cough up more. 

Source:http://www.hindustantimes.com/india-news/noida/pay-more-for-home-in-noida-and-greater-noida/article1-1188592.aspx?hts0021

Read More

What Are the Advantages of Investing in Greater Noida Properties?

Greater Noida, is managed and controlled by greater New Okhla Industrial Development Authority (GNOIDA). the city was created underneath the UP Industrial space Development Act.As we have a tendency to all grasp that Noida is taken into account to be one in every of the a lot of trendy cities of uttar pradesh State of india.
One more factor regarding the it's that Noida could be a major hub for international companies outsourcing IT services. several giant software package and Business method Outsourcing (BPO) firms have their offices within the town. in order that we are able to conclude that Noida is that the town wherever industrial workplace area and property of massive firms exist. In it several company have their Indian branch offices.
These are all regarding greater Noida the IT town of Asian nation. And currently i'm describing here a number of the benefits of investing in greater Noida property.
1. Property has verified a secure investment over the past decade in Noida, with returns on top of fifteen per cent. so by investment in Noida we are able to earn a minimum of twelve per cent come on investment.
2. Second advantage of investment in Noida assets is that its prices have tough increase in its price for the last many years and this increase in value of property is because of the increasing demand for assets in greater Noida. in order that we are able to conclude that if nowadays we have a tendency to invest in property of Noida it's virtually certain that we'll get appreciation in close to future
3. As we have a tendency to all grasp that property of oida is in nice demand as a result of greater Noida could be a hub of IT and industrial workplace of massive firms,that's why its property is improved so as to garner value associate degreed more profit once you do favor to liquidate it as an investment.
4. By having property or commercial office or flats in Noida we have a tendency to gain pride and name of getting business establishment in greater Noida as a result of greater Noida moneymaking market and it's thought-about to be trendy town in Asian nation.
This is all regarding the advantages of investment in Noida, currently I mention here a couple of most profitable project of the greater Noida. This project provides a brand new EDGE to the greater Noida TechZone. By investment during this project we are able to have industrial workplace area.

Read More