Your affordable choices in the heart of Noida Extension

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While new launches have almost dwindled in Greater Noida West, some reputed developers this year are likely to launch new projects in the mid-segment .

First-time homebuyers who invested in Noida Extension, now called Greater Noida West, way back in 2009 -2010 at affordable price points of Rs 1,800 per sq ft to Rs 2,200 per sq ft have been a brave lot. For many of them who moved into their new homes later, it has been a test of patience because of delays of almost one-and-a-half years due to land acquisition issues and other problems. However, all’s well that ends well.

Today, over 3,000 families have moved into projects located in the area that is well connected to both NH24 and Noida, and as many as 50,000 are expected to come in by the end of this year as possessions come through. By the end of 2018, the area will have some three lakh apartments. Interestingly, while new launches have almost dwindled, some reputed developers this year are likely to launch new projects in the mid -segment, with some going in for larger unit sizes and better specifications to rope in buyers.

Cherry County by ABA Corp has 1,793 units in the area, of which 1,240 will be delivered for possession next month. “We expect to get the completion certificate within a week’s time,” says Amit Modi, director, ABA Corp and vice president, Credai western UP. “We will be launching another project called Coco County in August this year. It will have 900 apartments spread over five acres. The location is Sector 10, Greater Noida West, and the price point will be about Rs 3,500 per sq ft.”

Gaursons has also launched 5,000 new apartments in the area. “Even in a dull market, 800 units have been booked,” says Manoj Gaur, managing director, Gaursons.

Another established builder is planning to launch 500 apartments this year. “We will have 3BHK and 4BHK units of over 1,600 sq ft. The location is good and is more or less stabilized,” he says.

As for why buyers should invest in this market, real estate experts say that compared to Yamuna Expressway, Noida Extension is a much superior market. The sales are largely end-user driven and it is a great micro market from the livability aspect considering the fact that prices are affordable (upwards of Rs 3,200 per sq ft) compared to sectors 78 or 150 where prices start at Rs 4,500 per sq ft.

Greater Noida West caters to people who cannot afford to invest in Noida or Indirapuram, where prices are upwards of Rs 5,000 per sq ft. It is also an affordable option for people wanting to graduate to bigger apartments from Indirapuram, says Shveta Jain of Cushman and Wakefield, India.

Akhilesh Yadav steps in, tells Noida authority to help flat buyers

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After Uttar Pradesh chief minister Akhilesh Yadav’s directive to address buyers’ issues, Noida authority chief executive officer Rama Raman on Monday held a meeting with his team to come up with solutions.

But it is not going to be an easy task.

Builders are unable to pay around Rs 300 crore land dues to be eligible for getting occupation certificates, said officials. Without an occupation certificate mandatory before getting possession of a flat, buyers cannot carry out the registration to transfer ownership from the builder to their name.

“We are trying to find a viable solution,” said Rama Raman.

In Noida, 50,000-70,000 home buyers are unable to get the registration of their flats done due to the failure of builders in paying land dues to the Noida authority that had allotted land for residential projects from 2006 to 2009.

These buyers have been suffering for the last 4-5 years. The UP chief minister had to intervene only after buyers in one of the residential projects took to microblogging site Twitter to register their protest.

“The chief minister is very serious about addressing the issues of home buyers. That is the reason he has issued instructions to the Noida authority and other officials concerned,” said Navneet Sehgal, principal secretary, UP information department.

New Property in Gurgaon

New Property in Gurgaon

If builders continue to fail in raising funds to pay land dues to the authority, the issue will not be confined to these 50,000-70000 property buyers only. It will affect others too.

According to the authority, there are a total of 127 under construction residential projects in Noida Extension. Of these, 86 projects have not got occupation certificates till April 18, 2016. Twenty-four residential projects are those in which 50,000-70,000 buyers are already suffering. Around another 80,000 buyers will face issues once they get ready for the registration.

Builders of these 127 projects together need to pay Rs 7,200 crore land dues to the authority. Builders failing to raise funds due to poor sales in the last 2-3 years said the authority should not levy interest on the default amount.

“If the Noida authority wants to benefit these 50,000-70,000 home buyers, who want to get registry done immediately then it should recover land dues in small instalments,” said Manoj Rai, chairman of Gardenia Group that has Rs 100 crore dues to pay. The Gardenai Group in has allowed possession to 1300 buyers in its sector 46 project without an occupation certificate.

Anil Kumar Sharma, CMD of Amrapali Group, said, “The Noida authority should come up with an amnesty scheme because there is an economic slowdown going on. The authority can mortgage unsold flats in lieu of money in a particular building to offer occupation.”

For timely possession builder’s are adopting precast technology!

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This technology promises us a world of creative possibilities in application and design, says Mr. Ravi Mohan Sethi, managing director of Stellar Group.

Mr. Ravi Mohan Sethi, MD of Stellar One Projects, said in an interview, that the real estate sector must be accorded infrastructure status to bring about major transformation in the outlook and nature of the market.WHY IS THE MARKET ON THE BACK FOOT?

The main reason is the loss of trust. Many of the developers and builders have lost their credibility among home buyers and investors.The making or tarnishing of image is in your own hand. Only promise what you can fulfil. Don’t promise anything beyond your capability. When property projects prices are on the upswing, real estate owners are only bothered about their sales without worrying about setting up a system to deliver them.

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When the market was going great, developers used to invest their sale proceeds of one project in buying land for another one.Then they launched another project with whose proceeds they bought land for a third project, and so on. It was as if a game of musical chairs were on. The slowing down of the market is similar to the music being turned off now, these developers find themselves stranded. So, it is a situation of their own making.

WHAT IS YOUR SECRET BEHIND TIMELY DELIVERIES AND QUALITY CONTROL?

We have adopted precast technology and set up our own facility on site; this gives us a world of creative possibilities in application and design. The technology is very versatile and is equally efficient for all types of construction–highrise, low-rise villas, commercial space, parking lots, etc.

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WHAT ARE THE MAIN ADVANTAGES OF THIS TECHNOLOGY?

The main advantages of this technology are that it helps us stick to our delivery schedules, gives structural stability to our projects, helps in wastage control, and requires less manpower.

Grading of developers will help in instilling healthy competition?

The regulatory bill would have been more effective had all the approving authorities been brought under its purview, too, says K K Tripathi, senior VP of Ansal Buildwell
KK Tripathi, senior vice-president (sales and marketing) of Ansal Buildwell Ltd, said in an interview with Times Property that to protect the interest of buyers and developers, the long pending real estate regulatory bill must be introduced in the Lok Sabha without further delay. The much awaited land acquisition bill is also required to fulfil the NDA government’s vision of “Housing for all by 2022“, Tripathi said.Ansal Buildwell Ltd started off in 1984 and is today one of the leading real estate players in the country. It has several self-contained townships projects in Amritsar, Jaipur, Gwalior, Moradabad, Pathankot, Jhansi, and Cochin.

Excerpts from the interview: HOW DO YOU SEE THE BUDGET?
WILL IT GET MARKET BACK ON TRACK?

The Union Budget is not positive or negative, it is so-so. Overall, we can say it is not a satisfying Budget for the real estate sector, especially at a time when the struggling market required a much needed push to bring back buyer confidence in the sector. Broadly speaking, increase in the limit of 80GG from Rs 24,000 to Rs 60,000 and the limit of 87A from Rs 2,000 to Rs 5,000 will give relief to small tax payers.

Focus on “Housing for all“ and 100% exemption from the income arising out of housing projects for flats up to 30 sq metres in four metro cities and 60 sq metres in other cities, will boost affordable housing projects.

It has also been proposed to provide an additional deduction on account of interest of Rs 50,000 for first-time homebuyers for loans up to Rs 35 lakh sanctioned during the next financial year, provided the value of the units does not exceed Rs 50 lakh–this can boost the sale of affordable houses.

HOW DO YOU RATE THE UNION BUDGET?

The budget is pragmatic, wide-ranging, and inclusive given the emphasis on infrastructure development.

Noida Extension Projects

Noida Extension Projects

It clearly lays focus on key areas of core sector growth, inclusion, fiscal farsightedness, and tax streamlining. There are quite a few sops for affordable housing and first-time buyers like service tax waiver, increased limit for deduction on interest repayment of home loans, and 100% deduction on profits made from affordable housing projects.

In addition, investment in infrastructure will also help affordable housing as it will connect affordable housing hubs with commercial centres. We look forward to the remaining Budget session to carry forward the GST bill and the real estate regulatory authority bill to further catalyse growth in the sector.

Affordable housing is a segment where the government should bring in tax-free status for developers, previously offered. We are keen that the real estate sector be given industry status, so that liquidity issues faced by developers are resolved to a large extent and help in attracting more FDI into the sector too.

The regulatory bill would have been more effective had all the approving authorities been brought under its purview, too, says K K Tripathi, senior VP of Ansal Buildwell
KK Tripathi, senior vice-president (sales and marketing) of Ansal Buildwell Ltd, said in an interview with Times Property that to protect the interest of buyers and developers, the long pending real estate regulatory bill must be introduced in the Lok Sabha without further delay. The much awaited land acquisition bill is also required to fulfil the NDA government’s vision of “Housing for all by 2022“, Tripathi said.Ansal Buildwell Ltd started off in 1984 and is today one of the leading real estate players in the country. It has several self-contained townships projects in Amritsar, Jaipur, Gwalior, Moradabad, Pathankot, Jhansi, and Cochin.

Excerpts from the interview: HOW DO YOU SEE THE BUDGET?
WILL IT GET MARKET BACK ON TRACK?

The Union Budget is not positive or negative, it is so-so. Overall, we can say it is not a satisfying Budget for the real estate sector, especially at a time when the struggling market required a much needed push to bring back buyer confidence in the sector. Broadly speaking, increase in the limit of 80GG from Rs 24,000 to Rs 60,000 and the limit of 87A from Rs 2,000 to Rs 5,000 will give relief to small tax payers.

Focus on “Housing for all“ and 100% exemption from the income arising out of housing projects for flats up to 30 sq metres in four metro cities and 60 sq metres in other cities, will boost affordable housing projects.

It has also been proposed to provide an additional deduction on account of interest of Rs 50,000 for first-time homebuyers for loans up to Rs 35 lakh sanctioned during the next financial year, provided the value of the units does not exceed Rs 50 lakh–this can boost the sale of affordable houses.

HOW DO YOU RATE THE UNION BUDGET?

The budget is pragmatic, wide-ranging, and inclusive given the emphasis on infrastructure development.

It clearly lays focus on key areas of core sector growth, inclusion, fiscal farsightedness, and tax streamlining. There are quite a few sops for affordable housing and first-time buyers like service tax waiver, increased limit for deduction on interest repayment of home loans, and 100% deduction on profits made from affordable housing projects.

In addition, investment in infrastructure will also help affordable housing as it will connect affordable housing hubs with commercial centres. We look forward to the remaining Budget session to carry forward the GST bill and the real estate regulatory authority bill to further catalyse growth in the sector.

Affordable housing is a segment where the government should bring in tax-free status for developers, previously offered. We are keen that the real estate sector be given industry status, so that liquidity issues faced by developers are resolved to a large extent and help in attracting more FDI into the sector too.

DO YOU THINK THAT THE REGULATORY BILL WILL HELP BRING BACK CONFIDENCE AMONG BUYERS?

This is a great initiative to keep a significant portion of the sales proceeds in escrow account, as that would ensure timely execution of projects and check temptation of developers to use customers’ funds in other projects.

It would also promote fair play in real estate and encourage investment in the sector. The bill has been drafted with the intent of protecting the interest of end users by promoting fair play in real estate transactions and focusing on time delivery of projects. It aims at a standardized regulatory environment which, in turn, will help in swift arbitration of disputes and ensure organized growth of the real estate sector.

Single-window clearance system is will help in cutting down the time and number of approvals. Grading of developers will also help in instilling healthy competition and give customers a transparent mechanism to evaluate investments. The bill will help in reinstating the trust of the general public in this sector by instituting accountability and transparency in transactions.

This is a great initiative to keep a significant portion of the sales proceeds in escrow account, as that would ensure timely execution of projects and check temptation of developers to use customers’ funds in other projects.

It would also promote fair play in real estate and encourage investment in the sector. The bill has been drafted with the intent of protecting the interest of end users by promoting fair play in real estate transactions and focusing on time delivery of projects. It aims at a standardized regulatory environment which, in turn, will help in swift arbitration of disputes and ensure organized growth of the real estate sector.

Single-window clearance system is will help in cutting down the time and number of approvals. Grading of developers will also help in instilling healthy competition and give customers a transparent mechanism to evaluate investments. The bill will help in reinstating the trust of the general public in this sector by instituting accountability and transparency in transactions.

Amrapali The Hemisphere, 8800215551, Amrapali New Launch Villa in Greater Noida

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Amrapali The Hemisphere Projects Highlights

  • 80% Open Green Spaces
  • Orchards
  • Gardens and Water Bodies
  • Outdoors and Indoors games
  • Temperature Controlled Swimming Pools
  • Clubhouse & SPA
  • 3 Tier Securities

Location of The Hemisphere

Amrapali The Hemisphere is located near pari chowk in Greater Noida the future smart city. The land is surrounded by existing market place and opposite to upcoming metro station in Alpha 2. It has a close proximity to the 50 acres city park and is also surrounded by IT, Techzone, SEZs, KPS, Schools, Universities, Hospitals and more. The Hemisphere is also well connected to Yamuna expressway, Noida expressway and upcoming FNG, DMIC and Eastern expressway. The land is also well connected to the upcoming sports city (Cricket Stadium/ Night Safari and F-1)
the-hemisphere-100yards-villa

Key Distances of The Hemisphere

  • Pari Chowk – 2kms
  • Noida Expressway – 2kms
  • Yamuna Expressway – 2kms
  • Noida Sector 18- 25mins
  • South Delhi – 30mins

Why to Invest in The Hemisphere Villas

  • Low density project in 105 Acres
  • Variety of Villas to choose
  • Specific traffic movement internally
  • Spacious bedroom sizes with all features
  • Multiple Leisure zones for residents
  • Pre cast structure
  • Podium villas concept first time in Noida
  • Internal wide roads
  • Attractive elevation/ facade
  • Golf view to all (46 Acres)
  • Sky Villas with private lift
  • Multiple entry and exit points

contact-us

World-class projects demand in NCR

A report says that the premium housing market of the NCR regions, especially Gurgaon and Noida, is currently seeing a greater influx of end-user demand, in contrast to the previous trend of the investment-driven purchases.
The NCR will continue to see increased investment in the super luxury housing space due to the strong demand in the region.This is also coupled with the fact that Delhi does not create any significant housing supply in the mid-market segment, leading to a spillover for super-luxury housing into the peripheral locations of Noida and Gurgaon.

The NCR today has a growth story that mirrors India’s growth over the last decade. Witnessing rapid urbanization, Gurgaon has become the city with the third highest per capita income in India.

The elite class aspires to experience a luxurious lifestyle in the company of like-minded people. Residences at some of the forthcoming world-class super-luxurious realty projects like International City by Sobha Ltd, Michael Schumacher World Tower and Maria Sharapova from Homestead, Raheja Revanta, DLF Garden City, Jade Jagger or Steve Leung’s distinctive style luxurious projects by Supertech Ltd are already under construction and promise to deliver the highest quotient of luxury for elite citizens.

A report says that the luxury housing market of the NCR regions, especially Gurgaon and Noida, is currently seeing a greater influx of end-user demand, in contrast to the previous trend of the investment-driven purchases. The sale of luxury projects has risen by around 30% in the past few years, with luxury homes in Gurgaon seeing both demand and value appreciation.

Spurred by new product offerings, greater influx of end-user demand, and a burgeoning upwardly-mobile segment, luxury and ultraluxury housing projects, with prices ranging between Rs 1.5 crore and Rs 15 crore, are seeing higher demand in the residential market of Gurgaon like Dwarka-Gurgaon Expressway, NH-8, Golf Course Extension Road, Noida’s Sector 50, 32, and Noida Expressway .

International City by Sobha Developers is a super luxurious realty project in Sectors 106 and 109 along the Dwarka-Gurgaon Expressway. The project has well-planned infrastructure, high-quality of construction, ample green and open spaces, making it an aspirational residential destination in the NCR.

International City has a state-of-the-art clubhouse offering an array of privileges. With just six villas per acre and ample green spaces, the city offers premium low-density living.

On the supply side, some new super-luxury project launches continued to focus on cost-effective options in alternative markets, particularly in Noida and New Gurgaon.

Developers largely focused upon luxury housing in Gurgaon during the first half of 2013; while the second half saw new launches, primarily in the high-end and mid-end segments along the Dwarka-Gurgaon Expressway and New Gurgaon area. Moreover, even though units in residential projects launched by established developers attracted maximum buyer interest and purchases, developers across segments continued to adopt various strategies like further discounts and free merchandise to boost sales.

A Harikesh, senior vice-president (Marketing & Sales) of Tata Housing, says: “With an increasing number of Indian corporates and MNCs operating out of Gurgaon, combined with limited availability of quality residential space in Delhi, Dwarka Expressway is emerging as a destination where real estate projects have mushroomed at an exceptional rate. Proximity to the IGI airport, Delhi Aerocity, and the forthcoming Diplomatic Enclave gives Dwarka Expressway an edge over other new real estate destinations. The location is developed in a planned manner and the infrastructure is also promising and an attractive option for buyers as well as investors.“

Tata Housing has recently launched a new ultraluxurious residential project, Gurgaon Gateway, on Dwarka Expressway, in Sector 112-113, Gurgaon. It is located right off the express highway and in close proximity to the IGI airport.

New Projects on NH 24 Ghaziabad

QUICK BITES

SALE OF PREMIUM PROJECTS HAS RISEN BY 30% IN THE PAST FEW YEARS, WITH UNITS IN THIS SEGMENT IN GURGAON SEEING DEMAND AND VALUE APPRECIATION DEVELOPERS LARGELY FOCUSED UPON LUXURY HOUSING IN GURGAON DURING THE FIRST HALF OF 2013; WHILE THE SECOND HALF SAW NEW LAUNCHES, PRIMARILY IN THE HIGH-END AND MID-END SEGMENTS ALONG THE DWARKA-GURGAON EXPRESSWAY AND NEW GURGAON AREA Another hub for premium residential projects is Golf Course Extension Road. The area has premier lifestyle projects in both residential and commercial segments. A numbers of green-rated townships and group-housing projects have been planned on this long stretch directly connecting to the main Gurgaon-Sohna Road.

Gulbir Madan, the chairman of Brahma Group, says: “Golf Course Extension Road is the next destination for premium residential projects in Gurgaon. Besides being well connected, the area offers well-developed infrastructure with 84-metre-wide roads and 24-metre-wide bylanes, which corresponds to developments in the western countries. The area also offers excellent social infrastructure with shopping malls, commercial developments, hospitals, and educational institutions.“

The main objective of green projects being developed along Golf Course Extension Road by private developers is to create energy-efficient, water-efficient, comfortable, healthy , and environmentally-friendly buildings and homes.

Increasing demand for super-luxury units, coupled with challenges like insufficient demand, inflation and lack of funding, are all likely to put pressure on housing prices in the region in the short to medium term.

However, the situation can be marginally improved if new projects are launched at affordable rates. Capital values across most of Delhi’s micro markets underwent a marginal dip due to rising preferences for apartment units over builder floors in the region, besides cautious buyer sentiments, over the last few quarters.

SAHA Group has an opulent project, Meghdutum, in Sector 50, Noida. The project offers panoramic party area, rooftop infinity pool, dedicated children’s swimming pool, and 95% open space and is one of the most technologically advanced projects in the NCR. The project can be reached through two arterial roads and some of its other features are 3-tier security , 100% landscaped area, high-speed elevators, basement parking, dedicated utility areas in apartments, amphitheater, badminton court, gymnasium, and steam and sauna rooms.

Aneil Kumar Saha, the CMD of SAHA Group, says: “We are presently developing an ultraluxury group-housing residential project, Amadeus, in Sector 143, on Noida Expressway . With a total built-up area of 12,00,000 sq ft, this lifestyle project offers 300 units of 3BHK and 4BHK. We are committed to a greener and a healthier tomorrow for all of us and ensure value additions are provided with each project.“

Wave Group has launched a superluxury project in Sector 32, Noida. “The super luxury segment is more or less recession proof. Buyers are typically celebrities or businessmen and their appetite for luxury homes is not governed by economic considerations. Club 51 at Belleville Park, our signature limited edition project, is designed to be an example of luxury and lifestyle in the Delhi NCR,“ Amar Sinha, the executive director of Wave Infratech, said.

Gurgaon based Ambience Group has recently launched Ambience Tiverton, a residential apartments complex on 3.5 acres in Sector 50, Noida. The project is close to DND and Noida Expressway and offers all lifestyle and luxury amenities, ambience, security , finishing and furnishing. These are centrally airconditioned apartments with imported fitting. The project has a fully furnished club with contemporary sports facilities, party and meeting rooms, gymnasium, and swimming pool.

Noida Extension (Greater Noida West) best for AFFORDABLE HOUSES

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With massive infrastructural work in progress, Greater Noida West is in the limelight for its residential and commercial hubs, which offer end users and investors some of the best deals in the whole of the NCR.
Greater Noida West, earlier known as Noida Extension, is the hub of affordable housing in the real estate market of the Delhi NCR. With the kind of de velopment taking place here, property prices have appreciated by more than 15% in the past one year.Why Greater Noida West

According to experts, the future of this area is bright and buyers have already started reaping benefits in terms of appreciation in property prices.

The development authorities are swiftly laying out the basic infrastructure like water, roads, and electricity . A green belt has been set aside for peaceful and healthy living and connectivity is going to be smoother once Metro rolls out in a couple of years. The area is already well connected to Delhi through Noida.

Compared to other places of the NCR like Gurgaon, Faridabad, etc, the fast developing Greater Noida West is well planned in terms of wide roads, basic infrastructure like hospitals, schools, and educational institutions, and commercial sectors. And, in terms of price, this area is much more affordable than any other real estate destination of the Delhi NCR.

Greater Noida West is spread over nearly 3,635 hectares (8,980 acres) and is around 4-5km from Sector 121, Noida. The road from Sector 121 will pass over Hindon river and reach Sectors 1, 2, 3, 4, 16B, 16C, 10, 12, Techzone, Knowledge Park 5, etc.

The area is buzzing with activity with almost 75 developers ready with a slew of projects offering 1-, 2-, and 3BHK flats, villas, and floors at affordable rates. One estimate says that the developing area would potentially cater to a population of over 10 lakh in the fu ture with an estimated 2.5 lakh built-up houses set to be delivered in the next two-three years.

Price segment

Despite problems like the recent land row over compensation in the land acquisitions by the development authority , Greater Noida West has seen a remarkable price appreciation and prices are expected to double in the next three five years when the entire development starts taking proper shape. Customers have already seen an increase of 100% in rates.

Buyers and end users who can’t afford to purchase a house or are looking for 1 or 2 BHK flats in Noida can certainly come to this newly developing area. Here the prevailing rates of property are between Rs 2,600 and Rs 3,500 per sq ft and realtors dealing in this area are registering a large number of transactions.

Manoj Gaur, the MD of Gaursons India Ltd, says: “The housing demand in Greater Noida West is definitely very high as the region offers prime housing solutions that range from affordable to luxurious options. Prices are fast picking up and some of the projects in this area achieved an appreciation of 25% over their start-of-year values.“

Dharmender, director of Big Realtors, says: “There is a blend of investors as well as end users in the buyers of property in Noida Extension. However, the working class of the Delhi NCR comprises the majority of the buyers. We receive a huge clientele from the Delhi NCR due to the affordable prices here.“

Metro connectivity

The existing Sector 32 Metro line will be extended up to Greater Noida West through Sector 72. The 7km-long stretch would cost around Rs 1,400 crore of which Rs 1,100 crore would be shared by the Noida and Greater Noida authorities, depending on the territory falling under their jurisdiction.

At least two stations have been proposed to be built on this line.

Opulencia

QUICK BITES

GREATER NOIDA WEST IS SPREAD OVER NEARLY 3,635 HECTARES (8,980 ACRES) AND IS AROUND 4-5KM FROM SECTOR 121, NOIDA ONE ESTIMATE SAYS THAT THE DEVELOPING AREA WOULD POTENTIALLY CATER TO A POPULATION OF OVER 10 LAKH IN THE FUTURE WITH AN ESTIMATED 2.5 LAKH BUILT-UP HOUSES SET TO BE DELIVERED IN THE NEXT TWO-THREE YEARS

[FAST FACT]

COMPARED TO AREAS LIKE GURGAON, FARIDABAD, ETC, GREATER NOIDA WEST IS WELL PLANNED IN TERMS OF WIDE ROADS, BASIC INFRASTRUCTURE LIKE HOSPITALS, SCHOOLS, AND EDUCATIONAL INSTITUTIONS

 

 

FNG: A REALTY PERSPECTIVE

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The 56km-long FNG Expressway faced several hurdles in the past as farmers refused to give up their land for the project, but now things are looking up.
The Noida authority has already completed work on 9km of the to tal 19.9km stretch of the FNG Expressway which comes in Noida’s jurisdiction.There is great potential for realty development in the region comprising Sectors 63-79 and Sectors 112-122, 137, and 142. These sectors are just adjacent FNG and within easy distance from Sector 18 and Noida Expressway .

Sanjeev Srivastava, the MD of Assotech Ltd, says: “Under the banner of Credai, we are able to establish a linkage which will connect the existing roads to Gurgaon. That is why we have renamed it G-FNG. The opening of Yamuna Expressway and this linkage will give a great boost to traffic movement to Agra.“

A study in Delhi and the capital’s satellite cities of Noida, Greater Noida, Gurgaon, and Dwarka has found that motorists crawl at 4kmph (kilometres per hour) for almost 24 minutes in two hours of driving, wasting 2 lakh litres of fuel for every one million cars plying daily .

Six years of the average Delhi ite’s career is just spent on roads with 7 million man-hours lost every day , and Rs 100 crore in productivity is lost to gridlocks every day .

The urban development ministry links the capital’s congestion to the origination of traffic from the National Capital Regions (NCR) like Noida, Ghaziabad, Gurgaon, and Faridabad, since the traffic from these places passes through Delhi.

Delhi’s traffic congestion has doubled in the last eight to 10 years with the capital’s snarl-ups reported as the worst among 35 Indian cities and four times more than in Mumbai and Bangalore.

The top driving speed during peak hours drops to 5kmph and it takes someone nearly three hours to reach office located just 15km away from home. There are 200 bridges over Thames in London, while there are only eight bridges over Yamuna, which is far below considering the population of this region and traffic movement.

“With the completion of the extension of the Metro line towards Greater Noida and FNG Expressway , the connectivity of New Noida with Delhi and other regions of the NCR will certainly improve. The Metro route will come as an extension of the existing Sector 32-based Noida City Centre Metro line that will be extended up to Greater Noida West, passing through Sectors 72 and 121. The completion of FNG Expressway will further improve the connectivity with Ghaziabad, Faridabad and Gurgaon,“ Rakesh Yadav, the MD of Antriksh Group, said. Realty development There are a number of projects being developed by major developers like Logix, Paras Buildtech, Paramount, Gulshan Homz, Sikka Group, etc, along the developing sectors of FNG Expressway .

Paras Buildtech has two residential projects on Noida Expressway , Paras Tierea and Paras Seasons.Paras Tierea, located in Sector 137 just off the expressway , is over 30 acres of prime land facing KPMG building, and is set to give possession of around 1,200 units in 11 towers.

Exotica Groups’ Exotica Fresco offers innumerable options in luxury apartments on the FNG Expressway .

Logix Group is set to deliver three residential projects here, Blossom Greens and Logix Zest in Sector 143 and Logix Blossom County in Sector 137, by next year. All the residential projects are luxury projects situated among attractive greens of the developing sectors along the FNG Corridor, directly connecting to Noida Expressway .

Paramount Group’s Paramount Floraville in Sector 137, Noida, offers residential units amidst landscapes, gardens, and lakes.

Ashwani Prakash, the executive director of Paramount Group, says: “Our residential project along FNG is an attempt to bridge the gap between superior living standards and healthy living. The project promises to fulfill a common man’s desire to live in peaceful and chaos-free environment.“ Gulshan Group has launched two projects, Gulshan Vivante in Sector 137 and Gulshan Ikebana in Sector 143, along the FNG corridor.

QUICK BITES

THERE IS GREAT POTENTIAL FOR REALTY DEVELOPMENT IN THE REGION COMPRISING SECTORS 63-79 AND SECTORS 112-122, 137, AND 142, WHICH ARE ADJACENT FNG AND WITHIN EASY DISTANCE FROM SECTOR 18 AND NOIDA EXPRESSWAY

supertech-emerald-court

डेवलपर्स नहीं कर पाएंगे प्री-लॉन्चिंग का खेल, खरीददारों को होगा फायदा

 

अब बिल्डर अपार्टमेंट बनने से पहले ही जनता को लुभाने के लिए प्री-लॉन्चिंग के नाम पर बुकिंग नहीं कर सकेंगे। अब तक बिल्डर जमीन के अपने हाथ में आने और उसकी रजिस्ट्री अपने नाम होने से पहले ही बड़े बड़े होर्डिंग लगाकर और लुभावना प्रचार कर लोगों से बुकिंग के नाम पर कुल लागत की 30 से 40 फीसदी राशि पहले ही वसूल लेते थे। लेकिन राजस्थान के संशोधित अपार्टमेंट ऑनरशिप बिल 2013 में बिल्डरों की इन गतिविधियों पर कानूनी अंकुश लगाने के प्रावधान किए हैं। अब प्री- लॉन्चिंग और लॉन्चिंग के नाम पर चलाए जाने वाले खेल खत्म हो सकेंगे। बिल को कैबिनेट की मंजूरी मिलते ही सभी बिल्डर और सरकारी निकाय अपार्टमेंट एक्ट के प्रावधानों से बंध जाएंगे।

 

 क्‍या होगा बदलाव

 

 अब अपार्टमेंट का निर्माण बिल्डर को खुद के पैसे से करना होगा। जमीन खरीदने से लेकर निर्माण पूरा होने तक वह किसी क्रेता से बुकिंग के नाम पर वैधानिक रूप से करार नहीं कर पाएगा। जब वह बिल्डिंग बायलॉज और एक्ट के प्रावधानों के साथ अपार्टमेंट पूरा होने का सर्टिफिकेट प्राप्त कर लेगा। उसके बाद बुकिंग कर सकेगा। ऐसा होने पर बुकिंग के समय किए वादे पूरे नहीं करने और क्रेता को बुकिंग में बताई सुविधाओं से कम सुविधाएं उपलब्ध कराने की शिकायतें बंद हो जाएगी। इसके बावजूद यदि बिल्डर कानूनी रूप से सुविधाओं में कोई कमी रखेगा तो वह कानूनन जिम्मेदार होगा।

 

 फ्लोर एरिया की गणना

 

 पूर्व चीफ टाउन प्लानर एच सी माथुर का कहना है कि प्री- लॉन्चिंग और लॉन्चिंग का खेल खत्म करना बहुत अच्छा कदम होगा। लेकिन उनको आशंका है कि क्या ऐसा अच्छा कदम सरकार उठा लेगी। उनका कहना है कि बिल्डर फ्लैट बेचते वक्त बता देते हैं कि कुल फ्लोर एरिया इतना है। लेकिन असल में इसमें सड़क, सीढ़ी, पार्किंग और अन्य क्षेत्रफल भी जोड़कर बताया जाता है। एक्ट में यह भी स्पष्ट किया जाए कि फ्लोर एरिया की गणना में कौनसा क्षेत्रफल शामिल करना है और कौनसा नहीं किया जा सकता है तो क्रेता के अधिकार सुरक्षित रहेंगे।

 

 अभी क्‍या करते  हैं डेवलपर्स 

 

  • होर्डिंग और अन्य माध्यमों से बिना एक एक जमीन के ही नई योजना का प्रचार
  • प्री-लॉन्चिंग तिथि घोषित कर कई माह तक बुकिंग
  • भूमि की अपने नाम रजिस्ट्री कराए बिना ही पूरी जमीन अपनी बता भूमि पूजन से साख दिखाकर बुकिंग 100 फीसदी करने का प्रयास।
  • बिना एक भी कमरे के निर्माण के कुल फ्लैटों में से जो बुक नहीं हुए उनको लांचिंग कार्यक्रम रखकर बुक करने का प्रयास।
  • जब जमीन और निर्माण की पूरी लागत बुकिंग से ही वसूल ली जाती है तो फिर सुविधा से जितनी जमीन कब्जे में आती है, उसके अनुसार फ्लैट निर्माण शुरू।
  • जबतक अपार्टमेंट का निर्माण पूरा होता है तब तक 50 फीसदी प्रोजेक्ट में क्रेता द्वारा बुकिंग के समय दी राशि का ब्याज ही उतना हो जाता है
  • जब कब्जा देने का समय आता है तो बिल्डर ने जो बनाकर दे दिया, वही क्रेता को लेना पड़ता है, उसके पास बुकिंग के समय बताई सुविधाएं कानूनन पाने का अधिकार नहीं होता।

 

Supreme Court asks Supertech to refund buyers in Noida twin towers

The Supreme Court has directed builder Supertech to refund money to people who had decided to opt out of two 40-storey towers in Noida it was building after the Allahabad High Court had ordered their demolition for flouting building norms. It has also asked it to offer alternative apartments to those people who did not want a refund.

Many buyers in the two towers—Apex and Ceyane—had decided they did not want to continue in the project after the court order in April and demanded a refund from the builder. The High Court had also asked Supertech to refund of the consideration received from flat buyers with 14% interest compounded annually.

The Supreme Court has asked the builder to refund the principal amount within one month and pay the 14% interest on it by October 30.

“We had given options to flat buyers in the two towers to either take refund or move to another project. We will start the process now as per our previous commitment and according to the Supreme Court order,” said RK Arora, managing director of Supertech.

Of the 857 apartments in the two towers, Apex and Ceyane, over 600 have been sold by Supertech ..

The case was filed in the Allahabad High Court in November 2012 by the existing residents of Emerald Court who were aggrieved that the two towers were sanctioned without maintaining the mandatory distance of 16 metres between the new towers and their building block, as required by the Noida Building Regulations and Directions of 2010, “making their block unsafe, apart from blocking light and air”.

When the court gave its order, the two towers were at an advanced stage—21 floors had been ..

Supertech had filed a petition in the Supreme Court after which the apex court had has stayed the demolition of the towers but restrained the company from selling any apartments in the two towers in Noida.