Noida cancels allotment of 17 commercial plots

The Noida authority has cancelled allotment of 17 commercial plots which were done through a competitive bidding system in October, 2013.

The authority said on Friday that it had to cancel the allotment after the applicants failed to deposit 25 percent of the property in noida cost within the stipulated period one month from the date of allotment.

The failure of this commercial plot scheme, which was promoted as the most successful one by the officials then, is being seen as a major setback to the authority. It has about 77 more commercial plots to allot.

The authority had allotted a total of 31 plots, out of 94 available under the scheme in October, 2013 as the rest of the plot found no takers. Of these, 17 allottees have failed to pay the money in time. So, only 14 plots stay allotted so far.Everyone are preferring flats in noida

"We have seized the security money of these 17 applicants, who failed to pay the money," Vipin Gaur, general manager (commercial) of Noida authority said, adding that the authority had taken back the possession of the plots.

The authority has earned Rs. 1.65 crore by way of the security money.

These plots are located in Sectors 1, 10, 16, 18, 22, 27, 40, 44, 63, 70, 100 and 110.

The failure of the scheme has left the officials bewildered too because two of the plots are located in Sector 18, city's most popular commercial hub which boasts of the highest property rate.

These plots, measuring 96 sq m, had been bought at a record breaking rate of Rs. 13, 56,000 per sq m.2 bhk flats in noida is having high demand

"I guess many people had bought these plots at a high rate to resale quickly and make easy money. But they failed to get any buyer in the resale market, and couldn't pay back the authority. It means that commercial plots have few takers in Noida now," said a real estate expert.

http://timesofindia.indiatimes.com/city/delhi/40-of-new-projects-in-Noida-delayed/articleshow/32991377.cms

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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.
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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

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3 BHK apartments for Sale in Sector 55 Faridabad

3 BHK flat is available on sale in Sector 55 Faridabad, Faridabad. With all luxury and basic amenities like Power backup, Car parking,modular kitchen etc..Faridabad is famous for 3 BHK Apartments

Faridabad is the best place for investments..NRI are looking to invest in Faridabad property

Read more : http://property.sulekha.com/3-bhk-house-for-sale_11974582

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Faridabad's best and biggest

The growth of Delhi into the NCR saw nearby areas like Noida, Greater Noida, Gurgaon and Ghaziabad really come up. Faridabad however, lagged behind due to poor infrastructure and neglect of basic development work.
However, recently, there has been a change with the state government showing keen interest in building up infrastructure and residential and commercial projects. Private players are also looking with interest at this area and amongst them is the Triveni group.Faridabad apartments price range is decreassed

Triveni group is a multi-faceted conglomerate with interests in diverse sectors like automobiles, entertainment, finance, media and faridabad real estate. Triveni Infrastructure Development Company Ltd., the group's flag-bearer in the real estate and entertainment sectors, is creating innovative projects with a view to redefine industry standards as well as to take people's aspirations to greater heights.

Triveni is continuously creating infrastructure and environment that exceeds imagination , not just to turn customers' dreams into reality, but to enable them to dream much bigger. This commitment has helped the group's revenues to grow from Rs 200 crores to Rs 3000 crores in a mere 4 years and to have over 10,000 satisfied customers.Faridabad plots having high priority compare to apartments

An ISO 9001:2000 company in existence since 1985, Triveni's projects include group housing projects, hotels, commercial spaces, townships and shopping malls. The company's completed projects include Triveni Paradise, Triveni Castle, Triveni Gymkhana, Triveni Orchid Tower and T3 Mall at Agra and Triveni Rangoli at Sikandra.

Ongoing projects in faridabad include Triveni Krishna Vatika at Vrindavan; Triveni Signature and Galaxy at Faridabad ; Triveni Heights at Ghaziabad and Triveni City at Agra. Forthcoming projects include deluxe apartments at Rewari; condominiums at Gurgaon; integrated township at Noida; IT Park at Greater Noida and 5 star hotel in central Delhi.

Read More:http://articles.economictimes.indiatimes.com/2007-02-03/personal-finance/27677621_1_faridabad-projects-greater-noida

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Gurgaon is the new South Delhi

Gurgaon, arguably India's most expensive suburb with glitzy high-rises and neon-flashing malls, could be on the road to emerging as the new equivalent to South Delhi locations. A look at the rise in property prices over the past three-four years shows why.

Apartments in Gurgaon/ New Gurgaon, which were priced at Rs 1,825 a sq ft in 2009, now have a price tag of about Rs 4,983 a sq ft, an increase of 173 per cent. In South Peripheral Road, Gurgaon, a high-growth area in the region, apartment prices have risen from Rs 2,550 a sq ft in 2009 to Rs 6,145 a sq ft, a rise of about 141 per cent, according to data provided by Prop Equity, a realty research firm.

Let's compare the rise in real estate prices in Gurgaon with that in Vasant Vihar, one of the most expensive locations in South Delhi, housing many of the city's rich and famous. In 2009, apartments in Vasant Vihar - not too far from Gurgaon - were priced at Rs 28,000-31,000 a sq ft; now, these cost Rs 35,000-50,000 a sq ft, a rise of only 61 per cent, if one considers the higher end of the price bands, according to data from international consultancy CBRE.

In South Delhi, Golf Links, Jor Bagh, and Sunder Nagar are among the areas that have seen the steepest rise in apartment prices---from Rs 44,000-48,000 in 2009 to Rs 85,000-95,000 last year, an increase of 97.9 per cent, many notches below the escalation in property prices in Gurgaon.

While the price differential between Gurgaon and the most expensive areas in South Delhi is stark (1,446 per cent if one compares Golf Links with South Peripheral Road in Gurgaon), there's little doubt that Gurgaon, the biggest investor-driven real estate market, is fast catching up with the prime locations in the capital. In fact, property prices in the Golf Course Extension in Gurgaon, which is not seeing any new launches, are close to those in some South Delhi localities.

Gurgaon, which started being developed as an industrial and information technology hub about 30 years ago, is now seen as the dream destination for investors looking for extraordinary property returns. (Click for graphs)

Although average property prices in South Delhi are three to six times more than in Gurgaon property, depending on the location, the gap is expected to narrow to two to three times in five years, says Sanjay Sharma, managing director, Qubrex, a real estate research and brokerage company.

However, experts throw in a caveat. The gap between prices in Gurgaon and South Delhi would narrow further, provided the infrastructure around the Dwarka Expressway is developed soon, says Sharma. The Dwarka Expressway, where a series of housing projects have been launched in recent months, looks promising and is expected to come up fast. However, it has been marred by litigation, delaying the progress of nearby areas.

Shweta Jain, executive director, Cushman & Wakefield, says despite the fact that the gap between property prices in South Delhi and Gurgaon has narrowed, it remains significant. She adds that on an average, the gap would remain at the same level. Only locations such as East of Kailash, Lajpat Nagar and Kailash Colony, where prices stand at Rs 22,000 a sq ft, can be compared to some areas in Gurgaon such as Golf Course Extension, she says.

"Private developers in Gurgaon are giving competition, in terms of prices, to some locations in South Delhi because of lack of infrastructure in the capital. And with Gurgaon becoming a commercial hub, people are compromising on address and preferring better facilities and amenities over a South Delhi address," she adds.

Experts also agree that Gurgaon prices are not comparable to that of South Delhi because there have been neither new launches nor many high rise apartments in the latter.

Read More:http://www.business-standard.com/article/economy-policy/gurgaon-is-the-new-south-delhi-113042800547_1.html

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Why Faridabad has greater scope for realty development

Faridabad , an industrial hub of Haryana, is now considered one of the best bets for safe living in the NCR. With improving infrastructure, Faridabad has transformed into a booming economic warehouse, and, a recent study has projected this old industrial city as the country's 'city of the decade 2011-21 '.
Futuristic developments

Located 25km from Delhi (ISBT), Faridabad is now emerging as the preferred destination for investors as there are huge prospects of economic boom in the air. The land crunch in Delhi is one of the primary factors for rocketing prices in the NCR, riding on the back of an insatiable demand.

Faridabad flats in as a panacea for such problem. The industrial city enjoys geographical and infrastructural advantages and there is a wider scope for real estate development here. The city has the merit of proximity to Delhi, as well as the NCR cities of Greater Noida and Gurgaon. These factors are driving end users, investors and corporates to choose Faridabad as a potential booming real estate destination.

The administration is focused on a comprehensive and multi-dimensional development of the environment, infrastructure and economy. The stakeholders here are unanimous that Faridabad must be transformed into be a model town, whose ascending economic prowess is matched by modern, efficiently managed urban services.

The stakeholders perceive an immense growth in industrialization and expect the service delivery mechanism to be responsive to this demand. They hope to carry forward to the next step in globalization by adopting policies supportive of rapid industrialization and ward off competition from other emerging industrial hubs in the NCR. Apart from attracting many more large and medium-scale industries, the focus will also be on attracting IT and IT-enabled service industries.

Industrial set-up

Faridabad has several MNCs, ISO-based industries, medium- and small-scale manufacturing units. On the whole, the total number of small, medium and large industries in the Faridabad-Ballabgarh Complex is around 15,000. The complex provides direct and indirect employment to nearly half a million people. The place is home to many MNCs in the manufacturing sectors like Whirlpool, Goodyear, Larsen and Toubro, Asea Brown Boveri, GKN Invel, Woodward Governor, and Castrol , apart from a clutch of Indian majors like Escorts, Eicher, Cutler-Hammer , Hyderabad Asbestos, and Nuchem, which are operating in this belt.

Real estate development

Faridabad real estate boom has transformed the skyline of Faridabad in the last few years, both in commercial and residential segment, as aggressive demand pushed the construction of premium properties. The demand comes from the growth and development in Faridabad's property infrastructure as well as property value.
Surender Gupta, the chairman of Gold Souk Group, says: "We have plans to invest Rs 500 crore in residential sector in the NCR. We are embarking upon an aggressive expansion strategy to strengthen our presence in the NCR cities like Gurgaon , Noida, and the developing city of Faridabad, in the next three years."

Ravinder Taneja, the vice-chairman of TDI Group, says: "Faridabad has always been underpriced in spite of the geographical advantages it offers, being equidistant from Delhi, Gurgaon, and Noida and having fairly good connectivity with all, by road and rail route.

Check below link to view more projects in faridabad

http://property.sulekha.com/faridabad-projects

Source:http://articles.economictimes.indiatimes.com/2012-09-01/news/33535418_1_ncr-cities-service-industries-medium-and-large-industries

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Real Estate Agents in Gurgaon For Buying a Good Home

In today's very tight real estate market, buyers are manufacture mistakes that can cost them lots of money, time, and even the house they really want. The single largest error that I see over and over again from end use buyer is trying to get a steal on a home. Everyone who has turned on a TV, picked up a broadsheet or gone to a cocktail party, knows the real estate market has been bowed on its ear for going on 5-6 years or more. Home values are at lows not seen in decades.Why gurgaon

Look for a high-quality Deal - Not the Perfect Deal
How big of a steal do you really need? Dissimilarity will probably impact your life for the next 30 years over the life of a typical standard credit. However, in contrast, 10K, 15K or even 20K extra, when amortized over 30 years, won't really create the similar size ripple in your standard of living.
Also, a residence that looks like a whip often has a little hidden (and expensive) reason why the house is so affordable. This is in particular true in REO homes that are obtain at the trustee sale, where the bank won't let you inspect the home until the final closing.

Also, as the dwelling is on the open market, you are challenging with other homeowners also looking for a perfect deal. If you remain too long or attempt to negotiate too low of a acquire price, you may find yourself on the outside look in. Even worse, you are challenging against investors who are willing to fritter cash for the home. If you want to sell your existing home first or have another contingency, you are at a severe disadvantage. In toting up, as many investors are also real estate professionals, the seller does not have to pay your buying agent anything. This puts you at an even bigger disadvantage.Various plots for sale in gurgaon and its near by localities

We have had numerous buyers put their spirit and soul, and lots of time and effort into chasing down the perfect house at a great price only to have an investor come in at the last second, and steal it away for just a couple of thousand dollars more which equate to Rs.15 or Rs.20 per month.
Now, is the time to evaluate your finances and see if you have the means to make your dreams of growing your wealth and securing a great lifestyle for you and your family come true. So, start speaking to real estate agents and start looking at properties that offer you a better lifestyle. You are guaranteed to make your money grow when you buy Gurgaon real estate.

Read More:http://www.sooperarticles.com/real-estate-articles/property-investment-articles/gurgaon-real-estate-guaranteed-return-investment-opportunity-717798.html

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Gurgaon Property Market has Eclipsed the Other Markets in Delhi NCR

It is a matter of curious concern that in recent years Gurgaon property market has eclipsed the other markets in Delhi NCR.Noida is a major centre in the Delhi NCR region chiefly due to the high concentration of multinational corporate offices. This corporate centre is lying at a distance of 15 km form Delhi, in the Uttar Pradesh border.Noida used to be in high appreciation of property value for the last several years.

However, in recent times Gurgaon house price show a higher appreciation than those in Noida.As the slump in the region is waning out, the property market has become again active in the Delhi National Capital region (NCR).During this quarter, Noida properties, both residential and commercial in the prime localities of Sector 20, 22, 28 and 31 have registered an appreciation of 5% to 8% over the corresponding period a year ago.

 It is relevant to note that Gurgaon flats  prices during this quarter have shown an average appreciation of 10% to 12% over the corresponding period last year. By current price comparison also, similar properties in the two locations show considerable variations. On an average, Gurgaon properties are 15% to 25% costlier than Noida properties.

The trend in Ghaziabad, another major centre in Delhi NCR also underscores the view that Gurgaon property market has eclipsed the other markets in Delhi NCR.In the main locations of Sector 10, 12, 15, 16 and 26 of Ghaziabad during this quarter property values have shown an increase of 7% to 10% over the corresponding period in those locations.Over all, the property prices in Gurgaon show an increase of 20% to 30% over the average prices in Ghaziabad.This higher demand for Gurgaon real estate is contributed to multiple causative factors.

Read More:http://www.sooperarticles.com/real-estate-articles/property-investment-articles/how-determine-property-best-you-1035314.html?page_tag=yAbrN4wMHnpinx5G3WjyGRxnmOLR15aQVo2MIowVVPZ3DT4_smlbLUyS7ozVr6vEBnvxIYe6Us3Q9X1PWUf6EA~~

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Faridabad - one of the most sought-after locations

Investing in Faridabad now is a wise decision because the property values are going to go through the roof in coming years, say builders.

Property locations in Faridabad offer diversified investment opportunities as many residential and commercial properties are available for purchase, rent and sale. Many people are able to locate luxury villas in Faridabad within their stipulated budgets.

The reason for the growing property scene in Faridabad is attributed to many factors. First and foremost, Faridabad’s infrastructural edge provides superlative facilities to property developers in the residential and commercial sector. The big names in the sector include Vipul, SRS Group, Eros Group, BPTP, Omaxe, etc. These reputed builders offer world-class apartments for sale in faridabad.

The land crisis in Delhi and its satellite metropolitan cities has resulted in developers changing their land preference from Delhi and other thickly populated cities to Faridabad and other less populated areas.

The presence of accredited educational institutes such as the National Institute of Finance Management and DAV is another factor in the increase of Plots value in Faridabad.

The city of Faridabad is home to a number of small- and large-scale industries. The booming industrial scenario makes Faridabad the location of choice for commercial property investment. The expansion of the industrial sector has created substantial demand for residential property in Faridabad.

The proximity to metropolitan cities is an added advantage for Faridabad. Connectivity to other major cities makes Faridabad a key location for sale and purchase of property, and the scope of the city is only going to accelerate in the course of time.

Approximate property rates in Faridabad

Property rates differ according to areas in Faridabad. In Charmwood Village, the rate per sq.ft. is approximately Rs.10,500 to Rs. 11,000. In Neharpar, the value is between Rs. 3000 to Rs. 4000. Sector 46 has a land value of Rs. 5,500 to Rs. 6,500, and sector 49 is between Rs. 3,500 to Rs. 4,500. Sectors 77 and 78 have a value of Rs. 3,500 to 4,500 per Sq.Ft. Sector 82 is between Rs. 4,500 to Rs. 5,000. Sectors 88 and 89 have a value between Rs. 3,500 to Rs. 4,000 per Sq.Ft.

The FDI relaxation has attracted many foreign investments. On the whole, Faridabad is going to play a prominent role among the developing cities in India.

Courtesy :Rivr

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Mariners Paradise Sector 87 Faridabad, Faridabad

About Project - Mariners Paradise

Mariners' Paradise, located in close proximity to South Delhi is just 9 kms. from Badarpur Border. Situated in the upcoming area of Sector - 87 Nahar Par Faridabad, MARINERS' PARADISE is an exclusive habitat for seafarers offering high specifications and high standards of living, the project is strategically located to give members the benefit of South Delhi House in Faridabad. Mariners' Paradise is an impressive tower that encloses a breathtaking central park. The tower offers homes in 4 bedroom and servant's quarter to suit individual lifestyles. The design of Mariners' Paradise is exquisitely expressed through feature gardens and courtyards, its spectacular water features & undulating landform. This upcoming Property in Faridabad of Mariners' will be a landmark and new experience for the Mariners' and NRI's. The towers house a total of 276 units with spacious 4 bedrooms constituting a servant quarter, living/dining room, and kitchen. Get assured of the best luxuries and facilities with imported/ Italian marbles, laminated wooden flooring central air conditioning, modular cupboards anti-skid vitrified tiles etc.

Project Highlights - Mariners Paradise

• Multi-level landscaping around main arena with water bodies & theme zones
• Landscaped jogging & walking tracks
• 100% Power back-up
• Gas pipelines to the apartments
• Rain water harvesting
• Primary / kindergarten / crèche
• Large festival grounds
• Audio Communication from guard unit to respective apartment
• Air Conditioning
• Panic Alarm function from apartment to guard unit
• Barriers at Main Entry and Exit for that extra security
• CCTV Surveillance
• 24-hour digital video recording surveillance of select entry points
• Fire alarm system
• 100% Power back up
• Swimming pool, Kids splash pool, Indoor badminton court with imported playing surface cum multipurpose room
• Banquet facility, State of the art gymnasium, Steam & sauna, Multi cuisine café, Kid's play area
• Games room – pool, billiards, cards, Business center, Dedicated area for aerobics & yoga,
• A Common lounge area and pool area along with landscaped sit-out will have Wi-Fi connectivity.

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