Eldeco Inspire Neo

December 30th, 2013

What is the single most important thing you look for when you are looking for a home to own? Location? Reliable Builder? Timely delivery of the project?

The newly launched tower at Eldeco Inspire, Eldeco Inspire Neo encapsulates all the above requirements and presents to you the opportunity of a life time to own a home which matches your expectations and does not exceed your budget.

Attractively located, this modern 2/3 BHK apartments (1121- 1761 sq. ft.) comes with a gamut of fully-loaded amenities like a modern lifestyle club with gym, billiards, table tennis, swimming pool, party hall and guest rooms; sports facilities – badminton, lawn tennis court, half court basketball and more, 24/7 power back-up, computerized electricity billing and drinking water through individual RO in each apartment.

Apart from the state-of-the-art- facilities and its 2 tier security system, these apartments in ‘Inspire Neo’ are perfect for the choice of comfortable stay in Noida and also cater to your moderate budget, starting at Rs 53 Lakh. The projects proximity to the FNG Expressway and Noida City Centre Metro Station offers easy connectivity for its residents. Situated in a well-developed locality and easy access to the commercial hub of Noida, Sector-18 and Fortis Hospital at Sector 62, Inspire Neo raises an interest in home buyers which is worth their attention!

Lotus Greens Gets Rs.1000 Crore Funding From Red Fort Capital

October 8th, 2013

red-fort-capital-logoRed Ford Capital is to fund Lotus Greens, the group founded by Mr. Nirmal Singh. Lotus Greens is a diversified group operational in real estate, hospitality, health care and education. The group is getting Rs. 1000 Crore funding from Red Fort Capital for its real estate projects in Delhi-NCR. Lotus Greens announced about this investment by Red Fort Capital, a leading private equity firm. Red Fort, in real estate projects, holds a development track record of over 300 Million SFT. The company at present has over $ 1 Billion under management.

Nirmal Singh, Founder, Lotus Greens said that the Red Ford Capital will be investing Rs. 1000 Crore in the company, out of which it has already committed Rs. 365 Crore. This amount would be utilized by Lotus Greens in its projects coming up in Delhi-NCR region.

This investment by Red Fort Capital in Lotus Greens reflects its faith in the company and its future growth. The group will be launching its new township project in Gurgaon followed by group housing on Yamuna Expressway. The initial funding will be used for these townships by Lotus Greens.

Noida-Greater Noida metro link to be completed by 2017

October 7th, 2013

Delhi Metro

Uttar Pradesh government made an announcement on Thursday about the completion of the Noida-Greater Noida metro link by 2017. Delhi Metro Rail Corporation (DMRC) has made a Detailed Project Report (DPR) for this metro link, which will be 29.707 km long. This report has also been submitted to the state government, an official said.
“The DPR is being forwarded to the union ministry of urban development for further action,” said Principal Secretary, Infrastructure and Industrial Development Surya Pratap Singh.

This metro link has an estimated cost of Rs.5,064 crore. As per the sources, the state government and the central government would be sharing 20% cost of the project each and the rest 60% would be managed in the form of an external loan by the central government. The project seeks to put no financial burden on the state government and thus Greater Noida will form a company to bear the share of the state, said an official.

As per the DPR prepared for the project, this extended metro link is proposed to have 22 stations with 13 to be constructed on ground the rest 7 to be elevated. The metro corridor to Greater Noida will cover sectors 50, 51, 78, 101, 81, on the Dadri road, 83, 85, 137, 142, 143, 144, 147, 153 & sector 149 in Noida starting from sector-32. This metro link will also have Knowledge Park-II, Pari Chowk, Sector-Alpha 1 and 2 in between.

A special purpose vehicle (SPV) has also been planned to formed for development, operation and maintenance of the metro rail.

Source: http://www.ndtv.com/article/cities/metro-rail-between-noida-greater-noida-by-2017-427481

RBI says no to 80-20 plan, considers construction linked plans more suitable

September 21st, 2013

The Reserve Bank of India (RBI) recently decided to put a halt on the 80-20 plan that existed as the investor-friendly scheme in realty sector. This move by RBI is expected to affect both the developers and buyers considerably. The existence of subvention plan or real estate buyers made it easier for them to invest in a property where they just had to pay 20% amount and the rest amount was disbursed by the bank. In such a case, the EMI by the buyer was paid after the possession. RBI advisory to banks to stop such kind of disbursement is expected to put the projects with the subvention schemes in trouble.

RBI has instead emphasized on the payment plans linked to construction stage of a project. This decision is expected to have a huge impact on the businesses of real estate developers. This will also have an effect on the ongoing projects that were launched on subvention schemes. As per the sources, developers including Lodha, Indiabulls, Ackruti, Sunteck, Runwal and many others presented more than 100 subvention schemes last year. Now, with this decision of RBI, these developers are going to bear huge losses, especially one who are yet away from the time of possession.

The existence of subvention schemes was always a benefit for the buyers as they only had to pay 20% amount initially and were completely free from the headache of paying the installments before the possession. But now when such payment schemes are not going to exist, the buyers and developers both are expected to encounter huge problem. It is going to be challenging for the builders, who have launched their projects with such payment schemes only. This may also result in increased prices of such projects by the developers.

Source:http://articles.timesofindia.indiatimes.com/2013-09-05/mumbai/41800281_1_property-prices-liasas-foras-real-estate-developers

Land Acquisition Bill Cleared in Lok Sabha

August 31st, 2013

Land Acquisition Bill, which was first introduced on 7th Sep., 2011 has now been passed in Lok Sabha. The Land Acquisition and Rehabilitation and Resettlement Bill is seen as a big relief for the land owners. It will bring fair compensation to the land owners and also ensure that no land owner has to face forceful acquisition of land.

The Land Acquisition and Rehabilitation and Resettlement Bill got 216 votes in favor and 19 were against it. The main Opposition BJP and BSP were in support of the bill whereas the Trinamool Congress was against it. Left parties, AIADMK and BJD members staged a walkout.

Loksabha

Following are some of the key factors about the Land Acquisition Bill:

The aim of the Bill is to provide “just and fair” compensation to families whose land has been acquired for industrial purposes. It proposes compensation that is up to four times the market value in rural areas and two times the market value in urban areas.

The Bill further aims at making affected persons partners in development, leading to an improvement in their post-acquisition social and economic status.

The Union Cabinet has approved several amendments suggested by the Opposition, including the one that instead of acquisition, land could be leased to developers so that its ownership remain with farmers and provide them regular annual income.

The Cabinet also cleared the amendment that provides for payment of 50 per cent compensation to original owners whose land was purchased after introduction of the Bill in Lok Sabha in September 2011.

The Bill envisages that in cases where PPP projects are involved or acquisition is taking place for private companies, the Bill requires consent of no less than 70 per cent and 80 per cent respectively (in both cases) of those whose land is sought to be acquired.

Source: http://economictimes.indiatimes.com/news/economy/policy/Lok-Sabha-passes-land-acquisition-bill/articleshow/22146309.cms

Paras Presents Smart Investment Option on Noida Expressway

August 23rd, 2013

Noida real estate is enriched with a wide range of options available for investors. These are not just the choices but the opportunities that no investor can afford to miss out on. One such property deal is made available on Noida Expressway by Paras Buildtech. The group has come up with a new high rise tower (t27) in its residential project Paras Tierea in sector-137 Noida. This new tower in Paras Tierea comprises of 3 BHK apartments available in 1410 & 1580 sq. ft. These apartments in t27 can be considered perfect as an investment with its 50-50 payment plan. Under this payment plan, the buyer has to make 50% payment initially (10% at the time of booking and 40% within 30 days of booking) and the rest 50% payment has to be made at the time of possession.

parastierea

Paras Tierea t27 is one of the best available deals on Noida Expressway. The first phase of the project will soon be available for the possession whereas this new tower will be completed in next two years. The 3 BHK apartments in t27 are perfect to be opted as an investment. The buyer can simply opt for these apartments and make 50% payment initially and once the price goes up, the property can disposed of before the possession only. By doing this, the buyer has to make the first 50% payment and before he needs to pay the other 50% amount, the property can be sold off. With such a convenient payment option, Paras Buildtech has given a smart investment option to people willing to put their money in Noida real estate. This 30 acre residential project comprises a lot of other deals that match the requirements of the end users as well.

Wave Vasilia, The All New Luxury Destination in Noida

August 17th, 2013

Wave, the name that has successfully been delivering the most premium commercial spaces is ready to delight the buyers with its new project Vasilia. Wave Infratech has presented this ultra-modern residential project within its 152 acre township Wave City Center in sector – 25 A, 32 Noida. Vasilia Noida is the project that has been planned to offer 2/3 BHK serviced apartments that too in the middle of Noida. This project has got the best location and the best infrastructure too, signifying it to be an ultra-modern development. As a part of Wave City Center Noida, this premium residential avenue by Wave ensures to deliver the best of luxuries. Each of the serviced residences in this modern day creation is expected to be exclusive in every possible manner.

wave-vasilia

Wave Vasilia Noida will be among the most premium developments that offer serviced apartments. At Vasilia, the residents will not just have access to the luxuries but also to the necessities that make living complete. Amongst these fall the factors like recreation features like Gym, Swimming Pool, Spa and a lot more. Even to make the stay more delightful, the group has planned the existence of sports facilities and many entertainment features too. Apart from this, the educational & health facilities along with Shopping Districts will be available within the township. This will impart great deal of convenience to each of the residents staying in these serviced apartments.

Vasilia serves well in every manner be it connectivity, amenities or opulence. Whereas the project offers access to almost all the modern features, it even ensures excellent connectivity with the major hubs of Noida, The location of Wave Vasilia gives it an edge as it is connected well with the national capital and significant parts of Noida. This ultra-modern project will even make its residents have the existing metro link nearby. The Noida City Center metro station is located at 5 minute’s distance from these serviced apartments in Vasilia. These connectivity features makes this project, the best available option for people in need of serviced apartments.

Real Estate Bill Presented in Rajya Sabha

August 16th, 2013

The real estate bill, which is intent to be a protecting power for home buyers from the dodgy developers was presented in Rajya Sabha on Wednesday. After getting introduced in Rajya Sabha, the bill has been referred to the Parliamentary Standing Committee on urban development for further reviewing. As per the Real Estate (Regulation and Development) Bill 2013, it will be necessary for the developers to get all the clearances from authorities before the launch. They even would not to be able to market the projects before getting these clearances. The bill was first approved by Cabinet in June 2013 and now has been introduced in Rajya Sabha. While presenting the bill in Rajya Sabha, the Minister of Housing and Urban Poverty Alleviation Girija Vyas said that the bill intends to make Real Estate Regulatory Authority that will support the interest of buyers in real estate.

real-estate-bill

The Real Estate Bill (Regulation and Development) will do a lot in favor of real estate buyers. It will impart a regulatory environment to the realty sector ensuring more transparency. The bill also includes provisions for submission of clearance to the regulator along with its display on the website before the construction starts. As per the bill, the developers will also not be able to display the project’s advertisements with the inappropriate site images. In case of violation of this, there may be a penalty of up to 10% of the project case and any repeated activity in this regard can also take the developer to jail.

Source : Economic Times

Indian Real Estate Magnetize Foreign Investors

August 13th, 2013

India’s real estate market is again turning up as a major area of interest for the foreign investors. In the past one year, several global names have been raising funds in Indian real estate sector. If we look at the figures of previous year, the foreign funds raised for Indian real estate was almost $2 Billion. The names that majorly contribute in these investments include Abu Dhabi Investment Authority, which supported Kotak Realty Fund and Sovereign Fund of Oman raise funds that backed HDFC for investments.

real-estate-investment

With regard to real estate investments by foreign names, it has been discovered that the large government funds and investment authorities are interested in real estate in India. More of the funds are largely invested in the metro cities due to the liquidity ration. As per the Chief Executive of Kotak Realty Funds, S. Sriniwasan, the company has managed to raise $1 Million with the global brands. He also said that the fund has also returned the amount of $350 Million that too with 25% return. As per the prevailing trends, it is quite difficult to raise funds due to the expectations of the investors seeking consistency. Thus, these companies locate the right options to invest money raised by the global brands.

Casa Greens 1, The New Destination for Comfort Living At Noida Extension

August 12th, 2013

Casa Greens 1 is the newly launched residential project at Noida Extension. This project comes from a trusted name Radhey Krishna Techno Builders, who planned Casa Greens as the ideal residential address at Noida Extension, also known as Greater Noida West. The group has presented this project to offer homes that deliver the best to both end users and investors. Casa Greens 1 offers 2/3 BHK apartments that are available in sizes ranging from 1050-1490 sq. ft. These are the modern day homes offering convenient living in the middle of different recreation features and long greens. The entire community is beautifully being designed by the reputed architect Hafeez Contractor. This brings the assurance of an infrastructure that speaks of its significance. Even in terms of the necessities available within the community and nearby, this Noida Extension project will deliver a sense of satisfaction to its residents.

Casa Greens_image 1

Casa Greens apartments welcomes everyone, who wishes to get the best of comforts within a reasonable budget. These are planned to be the modern day residences that offer sports facilities including Squash Court, Table Tennis, Billiards along with a fully-equipped Fitness Centre. Apart from this, the existence of a Club House with Gym, Swimming Pool and many other features will also be assured by the group. Further, the developed neighborhood of the project gives it a better atmosphere. Even in terms of connectivity, the project seems suitable. Located in Greater Noida West, this project offers excellent connectivity with the major hubs of Noida. Casa Greens 1 is just 5 km. away from NH-24, 6 Km. from Noida City Center and is also connected well with the educational institutions and hospitals. With such better connectivity features, the project has come up as a suitable property deal available at Noida Extension.