Jaydev Aunipark Greater Noida

After the successfully delivery of Jaydev Elevates, Jaydev Group has again come with an outstanding residential project by the name of Jaydev Aunipark. The name of the group notifies and shows that project is world in itself. This is the world of your dreams, fancies and hope. Group is offering you entire world of dream and fancies in affordable prices.

The most attractive thing about Jaydev Aunipark project is its location, chi V Greater Noida beside Yamuna Expressway. This expressway provides great connectivity and connects the location and Agra and Delhi. Another link which connects the location to Delhi is DND flyway. The project is being developed on the ideal location which is having great connectivity. Means of transportation are always available on these roads. Many of other proposed projects like railway station and metro station has also given this project great connectivity. All major parts of the city and National Capital Region have come very close due to the transportation facilities. Entire schools colleges and hospital of that area are close to the location. Another great thing about location is its peaceful environment and far from the noisy crowd of the city. So everyone is going to get most peaceful environment inside Jaydev Aunipark Greater Noida.

Jaydev Aunipark Noida is offering 1BHK, 2BHK and 3BHK apartments between the sizes of 696 and 1680 sq ft. these sizes of apartments are priced 5000 to 9500 per sq ft. inside these sizes of apartments, world class facilities and amenities have been provided. Real estate developing group is providing world class infrastructure in the apartments. Bedroom of the apartments have been arranged with designer double bed and sofa set and entire rooms of the apartments are verified flooring. RO system and refrigeration are proved in each one of the apartment of Jaydev Aunipark Noida. Beside these features inside apartment many more features have been arranged outside of the apartment. Entire structure of Jaydev Aunipark Noida towers is earthquake resistant. Swimming Pool has been provided along with gymnasium, yoga and aerobic hall.

Jaydev Group has gained great reputation because of last residential project. The group has handed over the project on time and also kept entire promises which have been made at the time of booking.

Source: http://realestateindianews.wordpress.com/2014/09/27/jaydev-aunipark-greater-noida/

World Trade Center Signature Tower Noida

Renowned network of office complexes World Trade Center has recently launched the first tower in its Noida office. Named as WTC Signature Tower, it is a new age business center having equipped with all the latest features and facilities. Companies can perform any business activity from here without any hassle. World Trade Center Noida is the first of its kind commercial center in entire Delhi-NCR region. There has not been any building of the international repute ever developed in Noida or Greater Noida city. World Trade Organization or WTO manages the expansive network of WTC’s office complexes. This organization is currently based in New York USA. The establishment of World Trade Center Noida is a collective decision taken by expert of WTO. The growing stature of Indian companies on the global business map is the main reason because of which this renowned organization has decided to open its new center in Noida city. Undoubtedly, India has a qualified human resource that can change the picture of business world.

Only thing that has restrained the business organizations of this beautiful nation to achieve their business goals is – Dearth of Quality Work Place. The establishment of WTC Signature Tower Noida has almost fulfilled this dearth and given an excellent opportunity to the business organizations of NCR to conduct their businesses from well equipped work place. Being located at Tech Zone-1, Greater Noida, this new age business center avails a number of benefits. A number of national and international IT, ITES and Electronics companies are already existed here. Moreover, its connectivity to all important destinations of Delhi-NCR provides great commuting experience. One can reach here from landmark locations of Delhi and Noida including IGI Airport, South Extension, Connaught Place, Lajpat Nagar, Sector 18 Market and City Center Metro Station in a short time period. This kind of easy commuting has become possible only due to the ideal presence of major road transits in its close proximity.

Launch of World Trade Center Signature Tower has started new chapter in the real estate development of Delhi-NCR. Companies, which were earlier not able to conduct important business activities at their own work place, can now do this. Well equipped Seminar Hall, Conference Room and Auditorium are available here from where any kind of business meetings and conferences can be performed. Moreover, latest communication features including audio-visual aid and video conferencing help in communicating with clientele and business associates based in any part of the world. Building of this new age business center is also equipped with high speed internet service (wired/wireless). Hence, it is quite clear that any kind of data can be sent or received in a fraction of time. As far as construction is concerned, renowned real estate company Sunworld Group and world famous construction company Spire World has joined hand for the development of this world class business center. Exclusive office spaces are available here in both the furnished and unfurnished options.

Essential Tips To Consider Before Buying Plots

Most people prefer buying plots and building their own houses rather than living in high rise buildings and apartments. They prefer to own a piece of land and develop it according to their taste and liking. The charm of having your own duplex and penthouse or a bungalow outshines any other kind of property. If you are a land lover and believe in building your own house then below are some essential tips to consider before buying plots.

When one dreams of a house and of one’s retirement, the image of a green lawn, with flowers and trees and a small kitchen garden looms large in front of one’s eyes. Everyone desires an abode which is peaceful, serene and designed according to their own choice.

Buying a chunk of land and constructing a house according to one’s taste is the ultimate desire of many but only few get a chance to fulfil it. Those who carefully plan and implement their property investments are lucky to savour the fruits when they retire.

One needs a vision for the future and a strong will power to be able invest in property which initially seem untouchable but later bear fruits like never before. But once you have decided to buy plot in a particular area then the next step is to make sure that the deal happens in a manner which leaves a smile on your face. Essential points to consider before you buy a plot:

Location of the Land and Proximity to Major Areas

The most important aspect of buying a property is to ensure that the area where you are intending to buy a plot is not in a far flung area and is proximate to commercial areas. Everyone knows that buying a plot near a commercial hub is not easy and may have exorbitant price tag; and not everyone can afford it. But one can have a foresight and choose a developing area which is coming up with commercial properties. Such areas sell plots at a reasonable rate and when they get fully developed the prices multiply like anything.

Basic Amenities Check

While purchasing a plot one should find out that the plot has the provision to fulfil basic amenities and facilities like water supply, electricity, grocery stores and proximity to hospitals, schools and other community centres is a must check.

Drainage and Sewerage

In this era of infrastructure boom many cities are launched first and then their basic infra is planned…which is sad. Hence, it is important that a buyer confirms that the basic infra facilities like roads that lead to the colony are good and wide and nicely marked, water drainage and sewerage are in order or have concrete future plans and the overall maintenance of the area will be taken care of by a reputed and deemed authority. No one wants a bungalow in the wilderness.

Land Usage and Pedigree

Before buying a plot check the documents pertaining information about the land usage rules, history of owners of the land, legal papers are in order and the seller has the right to transact the property and is the true owner.

This is very necessary as no one wants to get into a legal hassle and dispute in a land deal and putting one’s money at risk.

Costing

Visit real estate websites and try to find out the real price prevailing in a particular area and compare prices with adjoining areas. This may help you find out the real worth of the land and know the circle rates of an area.

Krasa Centrade Business Park

A world class business center with the name of Centrade Business Park has been recently launched by renowned real estate developer Krasa International in Sector 140 Greater Noida. Boasting of all the latest features, this new age business center is an ideal place for working. There was a time when infrastructural development in India was very poor. Companies had to conduct business meetings and other important activities in Five Star hotel because of the unavailability of Auditorium, Conference Room and Seminar Hall at their own work place. In recent time, India has achieved remarkable growth in infrastructural development that helped business organization to find best place according to their business requirement. Krasa International, with the launch of its latest commercial venture, endeavors to offer never before working environment. Being located at Sector 140 Greater Noida, this new age business center enjoys great neighborhood of world famous MNCs and other Indian private sector companies.

In addition, it is also accessible from all important destinations of Delhi-NCR as major road transits including Delhi-Noida-Delhi (DND) Flyway, Greater Noida Expressway and Faridabad-Noida-Ghaziabad (FNG) Expressway are located in its close proximity. If, you are coming from Delhi’s Indira Gandhi International (IGI) Airport, Connaught Place (CP), South Extension, Apollo Hospital and Noida’s Sector 18 Market and City Center Metro Station, it will take merely 20 minutes to reach here. This kind of excellent connectivity makes Krasa Centrade Business Park an ideal place for working in Delhi-NCR. Besides its exotic surroundings and great connectivity, it has a number of other exotic features that make work easy and hassle free. Entire building of this new age business center is equipped with Wi-FI internet service that offers fast data sharing. Today, every company performs business activity through World Wide Web (WEB), hence the facility of Wi-Fi will make their work efficient.

Moreover, the entire building of Krasa Centrade Business Park boasts of other important features that include the availability of hi-tech Conference Room, spacious Auditorium and world class seminar hall. Commercial spaces at this newly launched business center are available in the form of well furnished lockable office space or Virtual office spaces, Business Cabins and Retail Space. The abovementioned commercial spaces boasts of exclusive built up area that ranges between 200 sq ft and 750 sq ft. Furthermore, entire compound of Centrade Business Park Noida is equipped with hi-tech security equipments, such as CCTV Cameras and Metal Detector. Besides the exclusive security arrangements, this new age business center is equipped with top class facilities including 24X7 supply of water & power backup, high speed lift service, quality maintenance, recreational center etc.

Centrade Business Park Noida

Another world class commercial project has been launched by real estate honcho Krasa International in Delhi-NCR. Named as Centrade Business Park, it is a new age business center that comprises of work friendly features. Business organizations that were earlier not able to conduct smooth and hassle free business activity, will now be able to do so. Krasa International has chosen the exotic location of Sector 140 Greater Noida for the establishment of this new age business center because of its nature friendly surroundings and well connectivity to all important locations of Delhi-NCR. Whether it is Delhi’s South Extension, Lajpat Nagar, Apollo Hospital, Connaught Place (CP), IGI Airport or Noida’s Sector 18 market place, every landmark location is easily accessible from here. This kind of easily accessibility has become possible only because of the presence of FNG Expressway, Noida Expressway and Greater Noida Expressway in its close proximity.

Moreover, world known MNCs and other business organizations are already existed at this exotic location. Pleasant surroundings, easy accessibility and great neighborhood of world class companies make Krasa Centrade Business Park an ideal place for working. Entire project is being constructed under the supervision of well experienced real estate professionals and architects. Buildings will be developed here as per the architectural design prepared by a team of expert architects. This kind of development makes sure that the business organizations will get never before working experience at Centrade Business Park Noida. All the latest communication resources including Wi-Fi Internet service, Audio- Visual Aid, Video Conferencing etc will be offered here so that companies could establish a communication channel with their clientele and business associates based in any part of the world. In addition, the availability of high-tech conference room, spacious auditorium and seminar hall will help them in conducting various kinds of business activities.

Krasa International has left no stone unturned in making Centrade Business Park Noida best working place in the entire Delhi-NCR region. Luxuriously carved lockable office spaces, Business Cabins, Retail Shops and Virtual Offices will be developed here on the land area that ranges between 200 sq ft and 750 sq ft. Each of the commercial property will comprise of luxurious interiors and the facilities require for smooth and hassle free working. Safety of people and their belongings are the prime concern of the developer, hence they have installed CCTV camera across the compound of this new age business center. In addition, a team of well trained security guards will also check every entry and exit gate to prevent any unfair activity. Besides the security arrangements, other exotic facilities including quality maintenance, 24X7 lift service, wide parking area etc will also be provided at this new age business center.

Krasa Centrade Business Park Noida A Prime Location of Business Park

Krasa International is a company that works for the fulfillment of people’s demand. The company has recently launched a new age business center with the name of Centrade Business Park. This project is aimed at modern age business organizations that work beyond boundaries. Strategically located at Sector 140 Greater Noida, this business park is an ideal place for working. Natural elegance is spread across everywhere, which means people will get salubrious surroundings while working here. In addition, every place of Delhi-NCR is easily accessible from here as the exotic road networks, such as Greater Noida Expressway and FNG Expressway are located in its close vicinity. Expert team of Krasa International has planned to equip Centrade Business Park with international standard features, which means the companies will be able to conduct any kind of business activity. A new trend of real estate development has been started in Delhi-NCR region with the launch of this world class business park.

State-of-the-art features of Centrade Business Park Noida ensure that the companies will experience different kind of work culture. Previously developed commercial projects in Delhi-NCR kept the companies away from the current business trend because of the unavailability of such kind of features. Excellently carved office cabins, studio and luxurious suites will be available here in both the air-conditioned and non air-conditioned options. Though, business park is surrounded by residential colonies and other commercial projects, it offers pleasant ambience to the people through its sound proof walls. The architectural style of the entire project is unique and inspired from Global Corporate Architectural Culture. Moreover, structure of the building is eco-friendly that ensures great utilization of natural resources. Insulated roofs of the building make sure the optimum utilization of natural light. However, rain water harvesting system stores the rain water and makes it usable for the people. This business park of Krasa International will have metro connectivity in coming days as a Metro Station is proposed to develop about 500 meter way from here.

Once the work for Metro rail is completed, this business park will be accessible from every kind of transportation. It is the effort of Krasa International that has made possible the establishment of this world class business center in Delhi-NCR. Expert team of real estate professionals and architects is working round the clock in order to ensure the quality of construction work. There will be luxurious retail and office spaces developed at Krasa Centrade Business Park Noida on the land area that ranges between 200 sq ft and 750 sq ft. Each space, be it business cabins, lockable office space, virtual office spaces or retail spaces, will be embellished with state-of-the-art interiors. Hence, it is quite sure that people will get comfortable working experience at this new age business park. Besides the interiors, the developers have also decided to equip the entire compound of Centrade Business Park with the unmatched facilities, such as hi-tech gymnasium, 3 tier security systems, covered & open parking area, 24X7 high speed lift service, party lawns etc.

Gaur Studio Apartments A Upcoming Affordable Home in Noida

Wait for affordable studio apartment in Yamuna Expressway is finally over as the illustrious real estate company Gaursons India Limited has launched world class studio apartments. Named as Gaur Studio Apartments, this project has come as a dream come true for all those people who were earlier unable to enjoy quality living because of the unavailability of low price residential society. Gaursons is widely known for developing affordable residential properties in the real estate sector of Delhi-NCR. The company has a number of projects to its credit that have benefitted a large number of families. This latest venture of company will also do the same as it boasts of all requisite features that today’s home buyers are searching for. There is no company that offers high standard residential property at reasonable price amidst the most productive location. But, Gaursons does! The company believes in spreading happiness so as it always develops such kind of property that fulfills the need of every section of society. Being located at the exotic location of Yamuna Expressway, this housing society enjoys great neighborhood of other well established housing society.

In addition, important places of Delhi-NCR are easily accessible from here because of the presence of fast paced road transit Yamuna Expressway. Residents will also get nature friendly surroundings and fresh environment as natural elegance is widely spread across this location. Gaur Studio Apartments Noida is a place where utmost comfort is offered with the blend of luxury and affordability. Entire project has been conceptualized keeping in mind the need of modern age home buyers. A team of experienced real estate professionals and architects put their entire expertise in order to prepare an exclusive master plan for the project. By launching this affordable housing society, Gaursons has sent a message to all real estate developers who think that a luxurious residential apartment can’t be developed at low cost. It is not the first project of Gaursons that offers world class property at reasonable cost. The company has a long list of product mix from spacious residential to world class commercial buildings that can be bought at very low price.

Moreover, Gaur Studio Apartments is the first ever studio apartment being developed by Gaursons. High rise building will be developed at this new age housing society as per the architectural style prepared by renowned architects. As far as residential offerings are concerned, it offers well designed studio apartment built on the land area of 480 square feet. Each of the residence developed at Gaur Studio Apartments Yamuna Expressway boasts of latest features and equipped with never before interiors. Never ending season of happiness is offered here which means the life of residents will always be full of energy and enthusiasm. The developers have decided to construct a total of 200 studio apartments at this housing society. Furthermore, entire compound of Gaur Studio Apartments will be equipped with unmatched facilities, such as quality maintenance, 24X7 water supply & power backup, covered & open parking area, 3 tier security with CCTV surveillance, playground for kids, swimming pool, community club, retail store etc.

Assotech Business Cresterra Noida Offering Advanced Futuristic Commercial Offices

Assotech Realty proudly launches its new commercial project - Assotech Business Cresterra. It is a new age business center where all kind of business activities can be performed with great ease. Business organizations based in Delhi-NCR will now be able to enjoy world class working environment as this business park boasts of all requisite features required for hassle free working. Earlier the company had to compromise with their work because of unavailability of quality approved infrastructure. But now, they can perform their work with full of energy and perfection at this new age business park of Assotech Realty. Set amidst exotic location of Sector 135 Noida, ABC is a place where any kind of business can grow and flourish at high rate of success. The developers have decided this location only because of its pleasant surroundings and close connectivity to all important destinations of Delhi-NCR. Current business scenario demands this kind of well accessible location as the work force comes from different part of the city. If they don’t get proper channel for convince, it will be difficult for them to reach at the work place.

Hence, the decision for developing Assotech Business Cresterra at Sector 135 Noida will be a master stroke played by the developers. Some of the prominent places that are located in the close proximity of this business center are: Noida Sector 18 Market, Connaught Place, South Extension and IGI Airport. Moreover, the distance between these important places and Assotech Business Cresterra Noida has shortened due to the presence of major road networks, such as Noida Expressway and DND Flyway, adjacent to it. Apart from well connectivity, ABC also boasts of pleasant surroundings and eco-friendly atmosphere that creates aesthetic ambience, suitable for working. Well furnished office spaces for both the small and big size organizations will be developed here according to the modern design. Moreover, the architectural style of the building is stupendous and has a great resemblance with world’s best commercial buildings. Real estate market of Delhi-NCR will touch new height of success with the development of this new age business center.

No one ever imagined that India will achieve this kind of success in the infrastructural development. But, the effort put by government and renowned real estate companies like Assotech Realty has made this to happen. Assotech Business Cresterra Noida will comprise of such kind of features that required for conducting smooth business activity in today’s hi-tech business environment. Every office space here will be equipped with world class communication sources, such as Audio-Visual aid, Wi-Fi connectivity etc. This kind of communication network ensures that organization can communicate with their clientele and business counterparts based in any corner of the world. Well furnished offices spaces built on the land area of 970 square feet and 82,000 square feet will be available here. Apart from office spaces, the developers have also planned to develop residential apartments at this business center in order to meet the residential needs of the people. Furthermore, entire building of ABC Noida will also be fitted with state-of-the-art facilities, like covered & open parking space, quality maintenance, continuous water supply & power backup, security on every entry & exit gate, recreational center, etc.

Noida – Greater Noida: Good living quotient

The Noida-Greater Noida Expressway is poised to become a self-sustaining urban pocket in the NCR with good infrastructure and reasonable prices

Noida-Greater Noida Expressway is the alternate to Dadri Road connecting Noida and Greater Noida. The Yamuna Expressway also starts from this expressway just short of Pari Chowk in Greater Noida. This area has emerged as a major growth corridor and one can witness increased real estate activities here. Sectors abutting this corridor are 44, 45, 92-94, 96-100, 105, 108, 125-137 and 141-168. These sectors lie towards the south and south east of Noida.

This 23 km long corridor has attracted real estate investors and buyers with its good infrastructure facilities and connectivity to the other regions of NCR. This stretch gives quick access to the major business districts of Delhi like Jasola, Nehru Place and Okhla also the prime residential market of south Delhi. The new developing corridor i.e. Faridabad-Noida-Gurgaon Expressway will also pass almost midway through this corridor and increase the connectivity of Noida with Ghaziabad, Faridabad and Gurgaon.

It is also proposed to connect this highway with DMIC (Delhi Mumbai Industrial Corridor). This corridor will thereby have connectivity from all the major towns between Delhi and Mumbai. This area is getting Metro connectivity which will make this region easily accessible from other parts of NCR. The proposed Metro line in this corridor will have 22 stations, out of which 15 stations will come in Noida and 7 in Greater Noida. This line would be an extension of Noida City Centre in sector 32. The proposed stations on the route are expected to come up at Sector 50, 78, 81, 83, 101, Dadri Road, Sector 137, 142, 143, 144, 147, 149 and 153. The Noida-Greater Noida Expressway is one of the prime development corridors in the country, and unique as connectivity options are already functional or are making good progress.

Noida-Greater Noida Expressway offers a mix of residential and commercial developments on both sides of the corridor. This area has seen tremendous growth in residential projects owing to high demand from the commercial and IT/ITeS developments in the vicinity.

The administration authorities of these areas are more focused on a comprehensive and multi-dimensional development of infrastructure and the economy. Various special economic zones in some of the Sectors like 144-147 and 164-166 will become major employment hubs and as these economic zones will provide direct and indirect employment to people, the demand for housing in neighbouring localities will also increase.

This area has been witnessing a healthy demand along with the supply from various reputed developers like Jaypee, Supertech, Amarpali, 3C, Assotech, Logix, Unitech and Eldeco. These developers have come up with the concept of integrated townships, group housing and plotted developments in this area. In totality, location-wise and in terms of proximity to Delhi, this stretch offers good residential options. This location has become one of the self sustaining urban pockets of NCR region.

Projects which were launched at the price range of Rs 2,600 per sq ft two years ago are now selling in the range of Rs 5,500 per sq ft. The prices are still reasonable compared to other areas of NCR taking infrastructure into account. The property rates have showed stability and have witnessed an average hike of 28 per cent per annum over the last 2-3 years. Being the most prime developing corridor this area still has several projects that suit the large and varied mid-income group segment i.e. ticket size of Rs 45 lakh – Rs 1 crore.

Noida-Greater Noida Expressway is poised to be a great location for long and short term investors and occupiers. With an investment period of 2-5 years one can expect a minimum of 20-40 per cent returns on their investments. The Noida-Greater Noida stretch will offer better livability, and would be a good option for investment as well as end-use.

http://www.indianexpress.com/news/noida—greater-noida-good-living-quotient/1120253/0

New Homes for Old ones

A sluggish market has turned the focus back on redevelopment. In Mumbai, housing societies are being wooed into such projects by the very developers who built those homes decades ago, but still retain the conveyance deeds for those plots of land

The real estate market is currently awash with various payment schemes, gimmicks and value-added propositions to get inventories moving. Away from all that, however, some developers have found a way to make good profits without having to make substantial investments. This is a trend being witnessed in Mumbai and its suburbs and it is a matter of time before other markets catch up. That route is redevelopment.

How it began

During the 90s, the Mumbai skyline was changing. Several new developments came up. They are now 20 years old. If structures built before are included, the total will add up to several thousand buildings.

Housing societies have been formed and registered after occupants moved into these buildings. The one crucial document that should be in the possession of these societies has not yet been given: conveyance deed to the property. This means, the land on which the society stands is still owned by the developer, which makes him the landlord.

The housing society merely owns the building structure and not the land beneath or around that structure. Spaces around the structure can take many forms such as parking lots, gardens, recreational areas, open spaces and even golf courses as well.

“About a decade ago, several small-time developers began demolishing these open spaces and started building other structures. Several housing societies opposed this and went to court. However, since the conveyance remained with the developer, nothing much was achieved through legal battle. There are still hundreds of cases pending in various courts on the same issue,” says M Shefali, an advocate, citing a recent case of one such housing society in a western suburb of the city that is still pending in court.

During the boom years from 2004 to 2009, developers focused on new projects and not much happened in the redevelopment space. Over the last four years, the sluggish market post the 2008 global crisis has turned the spotlight on this activity.

This time, however, developers are avoiding acrimony and bitter legal battles. They are approaching housing societies with proposals to redevelop the same project built earlier. This time, the approach is professional and based on mutual understanding and legal arrangements.

The Model

“A developer in Borivali developed a residential complex of six buildings in 1990 at the prevailing FSI (floor space index) regime. He created a garden, a parking lot, etc. in the complex then. The flats were sold at the prevailing market rate and possessions were given. The society was formed by the new flat owners in due course. However, conveyance has not been given till date. The original developer has now approached us with redevelopment carrot,” says Umesh Shah, the secretary of a housing society.

After 20 years of moving into a house, the residents of any society would want three things: larger space, a better and safer building, and better amenities. Members of many housing societies who wish to redevelop are restrained mainly on account of the cost factor, and the lack of trust in any developer.

“The original developer has a better chance here. Usually the society members (flat owners) were the original buyers. Their trust level is usually very high with their developer since he built for them their dream house. This trust exists even after decades. Developers are using this factor now,” says ND Mehta, a property consultant who is advising one such project in Ghatkopar, a central suburb of Mumbai.

The original developer has entered the scene as a redeveloper. However, this time he makes an agreement with the society as one entity instead of individual home seekers, when he sold the flats the first time.

The Makeover

The focus of the developer would be to exploit open spaces within his original plot as he is the landlord. He would use provisions of new FSI regime to create more built-up spaces.

“Our four buildings will be replaced with two towers with multi-level podium parking or basement parking. Since the original open parking lot is shifted, the developer gets larger land to exploit for his benefit,” says Bharat Chande, a committee member of a society in Wadala, in central Mumbai.

After rehabilitating the residents of his old building in the new towers, the developer, who is now the redeveloper — would also be able to sell a few floors or a wing in order to recover his expenses and make good profits.

“Had he given the conveyance to the society, he would not be in position to rip off profits from the same plot twice. Otherwise, our society with the conveyance would have been the beneficiary of such additional privileges,” adds Chande.

Since the original developer owns the land, the capital investment at this stage is insignificant for him. In order to avoid further investment, some developers who may not have the resources to carry out this exercise are now joining hands with bigger and reputed developers who bring with them superior construction technology and have the resources towards expenses such as rents for existing occupants, corpus funds etc.

“This joint venture gives a much needed stability to the project and also enhances the trust and reliability quotient,” says Lalit Sanghvi, a small-time developer who has tied up with a bigger banner for his building at Girgaum in south Mumbai.

The Benefits

This is a faster process than a fresh development on two counts. One, the approval procedure is not as time-consuming or complicated and second, the cost involved for the developer is very low as compared to a new development.

Existing occupants get benefits such as stronger and safer buildings, extra space, modern amenities, besides a corpus fund for the society, rent for the stipulated period for alternative residence, shifting and other charges along with stamp duty and registration costs. Besides, projects get completed faster.

“This time, flat owners as the members of the society can collectively demand the conveyance of the plot in the name of the society. Even the developer now would not mind since there would be nothing left to develop or gain from this plot or project anymore once this redevelopment is completed. However he might charge for the same in the range of Rs 500 to 700 per sq ft,” adds Mehta.

“Besides some flats to sell in the open market, the developer has some other benefits as well. Though this kind of project may not generate huge profits but in a present slow moving market, getting and completing a redevelopment project would get him better reputation and fetch him quicker financial support for other projects as well. This kind of smaller but continuous profit inflows would help him sustain for a longer period in difficult times,” says Shah.

This model has another benefit for home aspirants as well. Like any other redevelopment project, this will also generate more flats which would come in open market. The home seekers would be able to select from various localities and price ranges. It seems like a win-win situation for all.

A word of caution

In order to get the benefits of redevelopment, the society may lose open and green spaces. A jogging track may be lost for superior fittings, or a garden for a bigger parking lot.

“If a society wishes to maintain all the green and open spaces and yet wants the benefits of the redevelopment then it can go ahead on its own. It does not need an outsider,” says Sampat, an advocate and a housing activist.

However, conveyance is a necessity for redevelopment on one’s own. If the original developer or present land-owner agrees to do conveyance at a reasonable price, the society should get it done at once even it does not plan any redevelopment at that point.

“If the land-owner does not agree or demands unreasonable amounts, the society can approach the state government for the recently launched option of ‘Deemed Conveyance’ and with that the society can proceed for the redevelopment on its own without sharing its profits with anyone. However, one must consult professionals and experts on this,” says Sampat.

There could be many reasons for the conveyance not being handed over to the housing society. The blame could be on either side depending on each case.

However, the fact remains that had the housing society persuaded and managed to get the conveyance from their original developer earlier, it would have been enjoying the fruits of this game today.

http://www.indianexpress.com/news/new-homes-for-old-ones/1120242/0

House prices begin recovery

Property prices in major cities are just beginning to move up, says the latest quarterly update of the NHB Residex.

The trend is borne out by the GDP data for 2012-13 released on Friday. For the fourth quarter of the year, construction has turned around to record a growth rate of 4.4 per cent against 2.9 per cent in the previous quarter. This trend is reflected in the Residex numbers too.

The Residex, developed by the National Housing Bank with inputs from RBI and CSO tracks the movement in prices of residential properties on a quarterly basis since 2007. It has emerged as a rich source of data for the sector which is thankfully unbiased.

As per the index for the quarter January-March, 2013 prices of properties are firming up in twelve of the 20 cities that the Residex tracks. Of course there are wide variations among them too. The variations range from 0.52 per cent in Indore to the steep 28.74 per cent in Jaipur. On the negative side, ie where prices have dipped are eight cities with the downturn being the least at -0.54 per cent in Vijaywada to -7.84 per cent in Guwahati, quarter on quarter. But the rise in the index for the quarter January-March, demonstrates that in majority of the cities some pricing power is returning to the sector compared to the previous quarter.

In the Delhi NCR which accounts for the bulk of the real estate market in the country, there is a clear sign of uptick. Delhi itself shows a rise of 3.59 per cent while Faridabad has corrected by 0.98 per cent. Among the four metros. Mumbai too has risen 2.31 per cent but in the two other cities Kolkata and Chennai prices have fallen.

The other cities where prices are improving for the housing stock available are Bangalore at 2.83 per cent, Kochi at 2.30 per cent and Ahmedabad at 0.53 per cent. From the current quarter Residex has been expanded to include six more cities: Chandigarh, Coimbatore, Dehradun, Meerut, Nagpur and Raipur. Compared to the base year 2007 prices in these cities naturally has risen considerably. It is 94 per cent in Chandigarh followed by 91 per cent in Meerut and another 84 per cent in Coimbatore down to 56 per cent in Raipur.

But six years after the index was launched by finance minister P Chidambaram, the Residex is still far from complete. It was supposed to cover all the 63 cities under the Jawaharlal Nehru National Urban Renewal Mission but that has yet to happen. Also at present, index is being developed only for residential housing sector. Plans to expand it later for a wider geographical spread to include separate indices for commercial property and land are still at the drawing board. The plan is to use all of them combined to arrive at the real estate price index. “The data based on actual transactions are put through a model that depicts the trend in the market. The Residex is expected to bring greater uniformity and transparency in the valuation of properties across the industry”, says the bank chairman RV Verma.

Rising Trend: Residential housing prices in 12 cities have shown increase in prices in this quarter ended March, 2013 (January-March, 2013) over the previous quarter ended December, 2012 (October-December, 2012). Maximum increase was observed in Jaipur (28.74per cent) followed by Bhubaneswar (14.54per cent), Pune (7.81per cent), Bhopal (6.49per cent), Delhi (3.59per cent), Bangalore (2.83per cent), Mumbai (2.31per cent), Kochi (2.30per cent), Faridabad (0.98per cent), Patna (0.67per cent), Ahmedabad (0.53per cent) and Indore (0.52per cent).

Declining Trend: Eight cities have shown decline in prices over the previous quarter with maximum fall observed in Guwahati (-7.84 per cent) followed by Ludhiana (-6.71 per cent), Surat (-6.67 per cent), Kolkata (-5.75 per cent), Lucknow (-3.18 per cent), Hyderabad (-2.23 per cent), Chennai (-1.28 per cent) and Vijaywada (-0.54 per cent).

http://www.indianexpress.com/news/house-prices-begin-recovery/1123345/0

The Real Estate Landscape of Bangalore

The global Information Technology boom was responsible for one thing in Bangalore. It changed the landscape of the city forever and for good. Bangalore is now seen as a city where there are opportunities aplenty and is therefore counted as one of those cities which drive the country’s economy. The technological and the economic growth of the city have further translated into infrastructural development and demand for real estate.

Real Estate Bangalore: The Role of IT
The IT and its associated sectors, Telecom, Engineering and all the other industries are producing job opportunities like no other. This is therefore drawing engineers and other professionals to the city to seek better pastures. The exodus of the professionals to Bangalore is one of the main reasons due to which there is pegging demand in the Real Estate Bangalore.

It must also be borne in mind that the real demand in the real estate sectors; residential and commercial is primarily in areas around the IT Hubs. The remaining areas in the city are merely a result of the trickle over effect. The IT Majors such as Wipro, Infosys, TCS etc. have concentrated themselves in the South and Central parts of Bangalore. This has led to an unprecedented demand for residential and commercial properties in the Bangalore Real Estate arena. Following the demand, the areas in these parts are experiencing inflated property prices and, have reached a point of near saturation.

There are several areas in suburban Bangalore which house the IT Parks. These areas are situated along the arterial and peripheral roads of Bangalore. The IT parks have also given rise to the number of shopping malls in their vicinity. Therefore there has been a significant development on the real estate and infrastructure in and around these areas. The demand for residential properties and the apartments was natural fallout along the peripheral roads.

The relocation of the International airport to North Bangalore has been seen the principal reason for the escalation of real estate Bangalore. prices in the adjoining areas. The proposed high speed metro and the development of an elevated highway for faster connectivity are also contributing to the infrastructural growth in the city.

The city of Bangalore has traditionally been an educational hub. The city has been attracting students from far and wide for various professional courses. This has therefore led to an escalation in the rentals and also opened a window for further development of residential properties.

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