Properties from 1-4 BHK are present in this area priced between Rs 4,900 per sq ft and Rs 12,300 per sq ft. A 2-BHK (1040 sq ft) costs an average of Rs 79 lakh and a 4-BHK (2,670 sq ft) costs Rs 2.11 crore.
Kalypso Court is among the five projects at Wish Town that are promoted, sold, and developed by JAL, not Jaypee Infratech Ltd, which is in insolvency resolution. The promoter has submitted details of project financials along with a plan for completion of the project.
The residential sales-to-supply ratio has improved to 1.36 currently, as against 0.63 in 2014, as developers have started focusing on clearing the unsold stock rather than launching new products, according to a report by FICCI-ANAROCK.
In the 12-month percentage change for the period Q2 2019 - Q2 2020, Turkey led the annual rankings with prices up 25.7% YoY, followed by Luxembourg at 13.9% YoY and Lithuania with 12.4% YoY. Hong Kong was the weakest-performing territory in Q2 2020, with home prices fallen to 2.8% YoY.
Now, all property details and revenue records have been digitised and each property has been given a unique identity number in the Haryana Land Records Information System (HALRIS), the portal used for registration and record of properties.
Property consultants said that post lockdown developers have drummed up a decent response whenever they have launched a value-driven sales campaign. During the Ganesh Chaturthi, a plethora of offers from buyers attracted buyers.
This week ET Wealth realty hot spot series takes a look at NCR locality near Delhi - Noida Expressway. The area is surrounded by key office hubs and provide well developed social and retail infrastructure. Here is a brief look at what makes this area prime hot spot.
The new rates will come into effect from September 12, an official statement from the office of the Inspector General of Registration and Controller of Stamps said. Ready reckoner rate, also known as circle rate, is the minimum price below at which a property can be registered in case of its transfer.
According to the developers, they were unable to offer possession of the completed flats for the last two years after the power department had asked them to convert to multi point power connections. The new connections were not feasible as extra cable needed to be laid for it and most of the buildings didn’t have space.
The cash discounts have helped developers to some extent in selling their inventories during this COVID-19 period and they are likely to continue with such offers in the upcoming festive season, which accounts for maximum sales in a year.
With more and more offices embracing the option of working remotely even after a majority of the restrictions have been lifted, landlords are struggling to find takers for their flats at rates set before the pandemic.
Chief Minister Shivraj Singh Chouhan said that move is aimed to boost the real estate sector and more such initiatives will be announced in coming days. “Economic activity had stopped due to the lockdown. Real estate sector was also severely impacted with financial capability of individuals got restricted,” Chouhan said.
This week ET Wealth takes a look at Prahlad Nagar, Ahmedabad. The area has multiple office buildings and residential apartment complexes making it a residential and commercial hub. Here is a look at locality features.
After the permanent formation of UP RERA, the judicial work started on September 4, 2018. In two years, 28,020 complaints have been registered with RERA. Out of these, 20,740 are of NCR. 16,136 complaints have been disposed off from the NCR region and 4,893 complaints from the non-NCR region.
UP-Rera is also looking for a government-backed auction house to trade off property secured from defaulter builders for refunding buyers though of the 65 defaulter builders, only four builders have disclosed their assets so far.
These days many lucrative schemes are being floated in the market by different societies and builders in the name of the DDA's Land Pooling Policy, demanding registration fee and initial payment booking of property and flats.
While Gujarat govt drags its feet on appointing presiding officer for RERA Tribunal set up 3 years ago, it has given one-year extension to Food Safety tribunal president who is currently handling RERA cases. The government said it will allocate separate building for the tribunal.
In a communique to the housing board and various development authorities, the UP housing and urban planning department has laid down detailed amendments effected in the OTS scheme which came into being on February 7 this year.
After hearing the parties, the apex court directed that the SBI Caps will issue fund to the tune of Rs 625 crore from the SWAMIH Investment Fund for 6 projects, namely Silicon City 1 & 2, Crystal Homes, Centurian Park Low Rise, O2 Valley and Tropical Garden.
According to officials, the collections could have been better than July, but many property buyers may have held their registration back to conclude once the duty gets reduced and save the cost. The collections have not managed to build on the growth in July registration.
“The appellant (Singhal) would be entitled to get Rs 47.6 lakh. The opposite party (Sudradh Constructions Pvt Ltd) is directed to pay this amount within a period of 45 days, failing which this amount will attract an interest at the rate of 6% per annum from the date of this order till actual payment,” the commission said.
On an average, a developer will get a rebate of Rs 16.46 crore over their dues and should be in a position to pass on the benefits to 22,064 buyers who have been waiting for the past eight to nine years in the hope of getting possession.
Twenty-five years after a man partly paid for a flat at Airoli, the national consumer commission ordered a builder to refund Rs 5 lakh along with an interest of Rs 14.5 lakh to him. Buyer had booked the flat around July 1995 and paid Rs 8 lakh in two transactions.
The project, CHD Vann, was launched by CHD Developers in 2014 and the possession was due in 2017. In their complaint, homebuyers alleged that the developer collected around Rs 224 crore from 250 homebuyers, but spent only Rs 80 crore for buying land and construction work.
On Wednesday, the state government reduced the stamp duty on property registrations to 2% for transactions between September 1 and December 31 from current 5%. The stamp duty will be 3% for agreements to be registered between January 1 and March end.
“As NCR is a very important market from real estate perspective, it is imperative that Government of Delhi, Uttar Pradesh and Haryana follow suit. This will certainly revitalise demand and help in employment generation as well,” said Achal Raina, COO, Raheja Developers, which is executing residential project in Gurgaon and Delhi.
The state cabinet also approved a Rs 700 crore road tax waiver plan for commercial vehicles to compensate for losses the transport industry suffered in the lockdown. The reduction in stamp duty, though temporary, could be substantial for a prospective home buyer.
“There is no sign of end to the pandemic as the number of positive cases are increasing day by day. Further, there were unexpected exodus of migrant labourers in large numbers from real estate projects to their native states. Also the supply chain of materials and equipment from different parts of the country, has been badly impacted due to the lock down restrictions,” said RK Arora, president of NAREDCO-UP.
Demand plunged 68% QoQ in Q2CY20; however, the sharp recovery witnessed in May (up 52% MoM) and June (up 71% MoM) is a harbinger of hope. Supply plummeted 82% On q-o-q basis during the quarter; however, it improved sharply in June, a recent report by Edelweiss Research mentioned.
A bench of Justices Arun Mishra and U.U. Lalit directed SBI CAP to begin funding for six projects, after the financial institution, which manages the stressed asset fund for stuck realty projects, informed the top court that it cannot fund all the projects.
The projects where construction was started include Smart City-Golf Homes, Kingswood, Leisure Park (Ph-1, Ph-2 and River view), Centurion Park- Terrace Homes and Tropical Garden, Leisure Valley- Adarsh Awas Yojna and Dream Valley- Enchante. In addition of this, the tenders for projects Leisure valley- Varona Height and Dream valley Ph-2 are in process.
Worli-Lower Parel in Mumbai is a prime location with sea-facing skyscrapers, premium office spaces, upscale infrastructure and excellent connectivity. Properties here are priced in the range of Rs 24,500-54,000 per sq. ft.
For instance, Hiranandani Group has launched an assured rental scheme for 1 bedroom apartments at its project Regent Hill in Hiranandani Gardens Powai. The company will offer rental of Rs 50,000 on this purchased apartment with 5% assured capital appreciation for the next five years.
Hyderabad led India’s office supply with a 30% share in H1 2020, significantly driving the country’s office absorption with an 18% share during the same period. The city reported an absorption of 2.1 million sq. ft in H1 2020,which dropped its vacancy rate to 9.2 %.