Noida Real Estate Property

Registering a property could soon be painless affair with the government planning to replace the century-old Indian Stamp Act, 1899 with a simpler law that will do away with a large number of antiquated provisions and fees.

The finance ministry has already kicked off a preliminary exercise for drafting the new law and is hopeful of finalising it by the end of the year. The draft will also be discussed with state governments to elicit their views before a final decision is taken, government officials familiar with the development said.

"The current law was written more than 100 years ago. Since then the form of business and transactions have completely changed and we feel that there is a need to replace the Act," said a senior government official.

Stamp duty is levied on a number of financial and legal transactions. At present, the documents are physically verified by different departments, making the process of registration a time-consuming activity. The new legislation is expected to address some of these issues.

 Source: Economic Times By Surabhi Key to Change: E-Delivery , 100 Years On, Govt Reworks Property Registration Rules

Considered the last fund-raising avenue, real estate developers are still opting for the share pledging route, clearly demonstrating the difficulty of raising money being faced by the sector. With banks exercising caution in lending, and developers finding other fund-raising avenues tough, pledging of shares has become the preferred option for developers to help raise funds to complete ongoing projects, besides starting new ones. Market experts say raising funds is tough in the challenging conditions prevailing in today's market. Developers, they say, need to keep in mind that the primary intention should be to complete projects in order to maintain a healthy movement of capital.

Says Shobhit Agarwal, joint managing director (capital markets), Jones Lang LaSalle Meghraj, "Developers are raising funds in their ongoing projects through pledging shares and through some other modes. Now, whether they will be able to balance it with the capital flow and not divert funds somewhere else is matter of great concern."

LOANS AGAINST SHARES

Under promoter funding facility, promoters of listed-companies can pledge their shares to get loans and meet their fund requirements. A promoter loan against shares is an instant line of credit and interest is charged only on the amount utilised. An added benefit of loans against shares is that owners do not have to liquidate their holdings to meet short-term cash requirements. Experts say that this method is used by promoters for various other reasons, including hiking their stake via the creeping acquisition route, buying out other investors/ private equity funds, converting outstanding warrants into equity shares and meeting the company's short term borrowing requirements.

Banks, on the other hand, usually keep at least thrice the amount lent as security. And given the change in corporate lending terms from April with interest rates on loans linked to the base rate they are going to implement tough norms on lending to real estate firms whose promoters have pledged shares.

praveen.singh @expressindia.com

• THE SELF-INTEREST CONUNDRUM
  
• COMPLETING PROJECTS, REPAYING LOANS
  
• PROTECTING THE MINORITY SHAREHOLDER
  
• OTHER FUND RAISING ROUTES

According to Boston Analytics research firm, the country's real estate sector has seen increased supply and pace of construction activity which caused improvement in pessimism related to real estate price. Low rates of interest on home loans driven by Government's stimulus packages have also encouraged the Indian consumers to buy homes.

Shirin Bagga, Economist, Boston Analytics, said: "Increased supply, improvement in pessimism related to real estate prices, and low rates of interest on home loans seems to be encouraging Indian consumers to firm up their home purchase decisions".

The research firm collected data from a monthly survey targeting 10,000 respondents cross 15 Indian cities--Delhi, Mumbai, Kolkata, Chennai, Hyderabad, Bangalore, Ahmedabad, Chandigarh, Nagpur, Kochi, Jaipur, Lucknow, Bhubaneswar, Patna, and Vishakhapatnam

The report said the sentiment related to pace of construction activity conveys more optimism with regards to observed change in construction activity in Tier II and Tier III cities relative to Tier I cities. "Additionally, the real estate projects which are in various stages of completion in Tier I, Tier II and Tier III cities and towns appear to be infusing optimism about the expected change in construction activity among respondents across Tiers," the report added.

As pointed out by the Economic Survey of 2009-10, the importance of the construction and real estate sector in creation of both physical and financial assets has been growing over the years. The construction sector now accounts for 8% of GDP at constant prices, up from 7.7% in 2004-05. Similarly, the share of real estate ownership of dwelling and business services in overall GDP as increased to 9.2% in 2008-09 from 8.9% in 2004-05.

Those who are waiting to own a house are suddenly spoilt for choice. The residential real estate market is witnessing a spate of new launches across the country. The offerings range from premium housing to affordable ones and are getting a good response from buyers.

Good opportunity Several developers have launched new residential projects, including affordable and premium housing, across the country.

Abhishek Kiran Gupta, head (research), Jones Lang LaSalle Meghraj, international property consultants, says: "After July 2009 till festivities, the projects were clearly categorized into two segments: affordable category and mid-end to high-end housing. After witnessing huge sales in the affordable category, developers increased the prices at the end of previous year by 15% in some parts."

In the affordable category, the rates are up by 5-10% since July and that in the mid- to high-end segment by 20%.

Samantak Das, national head (research), Knight Frank India, a consultancy firm, says, "In the coming months, there will be some hike in rates. In the mid-level housing segment, developers will have profit of 20-25%, but price hike may lead to a dip in sales."

Mumbai has witnessed new launches from Indiabulls Real Estate Ltd and DB Realty Ltd. Indiabulls' projects offer premium housing in the range of Rs27,000-30,000 per sq. ft in Lower Parel area. DB Realty's project is selling at Rs27,500 per sq. ft in Prabhadevi. Some new projects are also coming up in Kandivali from Hiranandani Developers Ltd and Ekta World, in the lower range.

Delhi-NCR has a mix of project offerings. Most of the recent launches are in the peripheral areas of Gurgaon and Noida. Supertech Ltd, Amrapali Ltd and Prateek Buildtech India Pvt. Ltd have launched their township projects in Noida.

The rates are in the range of Rs1,800-2,500 per sq. ft. Gurgaon is still leaning towards the premium side. Emmar MGF Ltd's project at the National Highway 8 offers a rate of Rs3,499 per sq. ft, while another premium project from Pioneer Urban Land and Infrastructure Ltd is offering a rate of Rs5,000 per sq. ft.

Other metros, such as Bangalore and Hyderabad, have also witnessed new launches.

devesh@livemint.com

The realty firm wants to di- vide its 42 acres on Old Ma- habalipuram Road off Chennai into four or five portions, each of which will be handed over to local developers for building residential apartments.

"We don't know much about the Chennai market and think it's a good idea to bring in people who have the know- ledge," said Anand Reddy, di- rector of PBEL Property, which has a project pipeline mostly in southern India. "Of course, we will keep a portion of the land which we'll develop our- selves."

A number of large develop- ers are similarly forming joint ventures (JVs) or special pur- pose vehicles with smaller, lo- cal developers for specific pro- jects on a revenue-sharing model.

"We will see more develop- ers getting into such JVs depending on what the local partner brings to the table," said a senior research analyst at First Global Securities Ltd, who didn't want to be named."It could be land, local domain knowledge or even good build- ing capacity."

madhurima.n@livemint.com

Source: Live Mint By MADHURIMA NANDY Rapid Expansion : Big Developers Scout For Local Partners To Grow

The State Environment Appraisal Committee (SEAC) forwarded the DDA's proposal to a higher body in a recent meeting of the State Level Environment Impact Assessment Authority (SLEIAA) for its final approval.

To come up on the east side of Sector D, Pocket-6 in Vasant Kunj, the DDA initially planned for constructing 860 flats, however due to land scarcity, it slashed the number to 805 with the building height 15.50 mt and proposed built up area around 39,041.6 sq. meters.

It would be constructed with an estimate cost of Rs 34.12 crores with parking facilities for 546 cars.

While recommending the project to state EIAA, the SEAC has asked the DDA to seek DJB's permission for withdrawing groundwater and planting trees inside the premises of the MCD School adjoining to the site.

Upmarket housing in Gurgaon  costing above Rs 75 lakh a unit is the only exception, having risen by around 20 per cent since September.

Affordable homes in the NCR -- those priced between Rs 5 to Rs 35 lakh -- have seen sin- gle digit growth in price, while the cost of similar homes in Mumbai have gone up by a whopping 32 per cent.

PropEquity conducted a 13- city survey that included the five key real estate markets in the NCR: Gurgaon, Faridabad, Ghaziabad, Noida and Greater Noida. In Noida, it found prices of the Rs 5-35 lakh homes had gone up only two per cent, while in Gurgaon it was nine per cent.

"The low end market in the NCR region failed to pick up due to excess supply and lack of investor interest," said Samir Jasuja, managing director & CEO, PropEquity.

The price rise in all segments has been the highest in Mumbai and its surroundings.

Delhi was not considered because there is very little con- struction within the city limits

lalatendu.mishra@hindustantimes.com

अथॉरिटी ने 1 मार्च को शहर के विभिन्न हिस्सों में नौ कमर्शल प्लॉट की स्कीम घोषित की थी। इसके फ्लोर एरिया रेश्यो (एफएआर) को लेकर विवाद अब तक चल रहा है। हालांकि, अथॉरिटी ने प्लॉट खरीदने वालों को इस संशय को दूर करते हुए ब्रोशर के साथ पांच एफएआर को मंजूर करने वाले अफसरों के हस्ताक्षर वाला नक्शा भी साथ में संलग्न किया है। इस स्कीम की टेक्निकल बिड 22 मार्च को खुलेगी। सेक्टर 15 में मेट्रो स्टेशन के पास वाला प्लॉट कुल 25 हजार 300 वर्ग मीटर का है। यहां पांच एफएआर को मंजूरी दी गई है। कुल मिलाकर ग्राउंड कवरेज 50 फीसदी है यानी प्लॉट हासिल करने वाली कंपनी को लगभग सवा लाख वर्ग मीटर तक के कंस्ट्रक्शन की अनुमति होगी। अथॉरिटी ने 400 गाडि़यों की पार्किंग बनाकर इसे फ्री में अथॉरिटी को ट्रांसफर करने की शर्त जोड़कर मेट्रो पाकिर्ग की राह आसान कर दी।

गौरतलब है कि अभी तक इस प्लॉट में नोएडा अथॉरिटी का हेल्थ, इलेक्ट्रिक एंड मेंटिनेंस, हॉर्टिकल्चर और स्टोर आदि डिपार्टमेंट के ऑफिस थे। इनमें से ज्यादातर ऑफिस सेक्टर-39 स्थित बिल्डिंग में ट्रांसफर किए जा चुके हैं। अब इस प्लॉट के कुछ हिस्से में एक ट्रीटमेंट प्लांट बना हैं और दूसरी तरफ स्टोर है। यह स्टोर कहां जाएगा, यह अभी तय नहीं है। इतना जरूर साफ किया गया है कि अभी तक गुलमोहर मार्केट को मेन रोड से जोड़ने के दो रास्ते थे, अब यह मार्केट तीन मार्गों से डीएससी रोड से जुड़ जाएगी। मार्केट के पिछले हिस्से को सीधे पेट्रोल पंप के निकट से बनने वाली सड़क से जोड़ा जाएगा।

ब्रोशर में एक अन्य जानकारी यह भी दी गई है कि मेन डीएससी रोड और कमर्शल प्लॉट का साइट के बीच 15 मीटर चौड़ी एक सर्विस रोड भी बनेगी। इन सबके बीच एक धर्मकांटा घिर गया है। इस प्लॉट के बिक जाने के बाद धर्मकांटे का क्या होगा, यह अभी साफ नहीं हो पाया है। खास बात यह है कि सेक्टर 15 और 16 में रिजर्व प्राइस एक लाख 16 हजार रुपये प्रति वर्ग मीटर है मगर फ्री पार्किंग की शर्त सिर्फ सेक्टर 15 के प्लॉट पर ही लगाई गई है।

The income ceilings of EWS and LIG are presently defined at Rs 3,300 per month per household and Rs 3,301-7,300 per month per household had been fixed on 2006 prices. These have now been revised to Rs 5,000 per month for EWS and Rs 5,001 to Rs 10,000 per month for LIG based on 2006 prices, the ministry of housing and poverty alleviation said today.

The move had been reported by The Indian Express three weeks ago. In order to account for the rise in per capita income, inflation and construction costs, the proposal to revise the income ceiling has been under consideration of this ministry.

“The revised income ceilings shall be applicable for definition of beneficiaries under government schemes for housing, including Interest Subsidy for Housing the Urban Poor Scheme (ISHUP), Basic Services for Urban Poor (BSUP)/ Integrated Housing & Slum Development Programme (IHSDP),” the housing ministry said.

The existing upper ceiling of Rs 3,300 per month for EWS and Rs 7,300 per month for LIG will continue to form the basis for calculation of affordability and subsidy.

Said Rajeev Talwar, executive director, DLF: "The equation which was there previously of acquiring more land banks have changed and all developers today are more focused on delivering projects."

Reality analysts also believe most of the top developers learnt their lesson that delivery is the most important aspect and the projects left incomplete during the slowdown need to be completed first.

"All the developers in north India acquired a lot of land during the pre-slowdown time and they did it across the country to construct hotels, commercial property, retail complexes and many more. But, as the slowdown came by, lots of the projects never started or were stopped mid way. This sent out a clear signal that there is no point in doing so many things at the same time and now most developers are consolidating on doing their ongoing projects, as they realise delivering them on time is the key," said Santosh Kumar, CEO Operations, Jones Lang LeSalle Meghraj.

The demand for land is now in smaller plots, in places where residential projects are doing well. "Developers are still looking for land in Gurgaon as there is lot of demand for residential projects, but the focus is on only buying land where one witnesses clear demand, rather than just increasing the land banks," added Kumar.

Source: Business-standard By Atanu Kumar DasRealty firms in north focus on clearing backlog

प्रॉपर्टी मार्केट में आई गिरावट का असर सरकारी खजाने पर पड़ते देख यूपी गवर्नमेंट ने अक्टूबर 2009 में एक आदेश पारित किया था। इसके मुताबिक नोएडा अथॉरिटी, ग्रेटर नोएडा अथॉरिटी और यमुना अथॉरिटी के वैसे आवंटी जिन्होंने प्लॉट आवंटन के 6 महीने बाद भी रजिस्ट्री नहीं कराई, उन्हें सर्कल रेट पर रजिस्ट्री करानी होगी। लेकिन ऐसे आवंटियों को फिर से राहत दी गई है। एडीएम फाइनैंस शिवाकांत द्विवेदी ने बताया कि ऐसे आवंटी अब 31 मार्च तक अथॉरिटी के अलॉटमेंट रेट पर ही रजिस्ट्री करा सकते हैं। इसके बाद सर्कल रेट लागू होंगे। माना जा रहा है कि इस आदेश से मार्च में स्टांप विभाग को मोटा राजस्व मिलेगा। गौरतलब है कि वित्तीय वर्ष 2009-10 में रजिस्ट्री कम होने से स्टांप विभाग की कमाई लक्ष्य से काफी कम हुई है। अब तक 600 करोड़ रुपये का राजस्व मिला है जबकि लक्ष्य 1000 करोड़ रुपये है।

सूत्रों ने बताया कि इस तरह के लगभग 150 आवेदन तो इंडस्ट्री डिपार्टमेंट में पेंडिंग हैं। इसी तरह की एक सूची इंस्टिट्यूशनल डिपार्टमेंट में पेंडिंग चल रही है। इंस्टिट्यूशनल से जुडे़ अफसरों का कहना है कि जो 10 पर्सेंट देकर ट्रांसफर करा रहा है इसे ट्रांसफर की इजाजत दी जा रही है मगर यह लीगल रूप से सही स्टेप नहीं है। सूत्रों का कहना है कि यह फाइल दो डिप्टी सीईओ के पास से होकर पहले सीईओ कम चेयरमैन के पास पहुंची। वहां से इसे फाइनैंस डिपार्टमेंट में भेज दिया गया। इसके बाद से यह फाइल डंप हो गई है।

क्या फंसा है पेच
नोएडा अथॉरिटी को इस छूट से संबंधित प्रस्ताव 29 दिसंबर 2009 को हुई बोर्ड बैठक में रखना चाहिए था लेकिन ऐसा नहीं हो पाया। तब से अथॉरिटी की कोई बोर्ड बैठक भी नहीं हुई है। बैठक होने के बाद ही इस बिंदु पर मुहर लगेगी। तब ही इन केसों को क्लियर किया जा सकता है।

आवंटियों की कटेगी जेब
मानव सेवा समिति के प्रेजिडेंट यू. के. भारद्वाज ने इस मामले को चेयरमैन कम सीईओ के सामने रखा है। उनका कहना है कि यदि 1 अप्रैल से पहले आवंटियों की समस्या का समाधान न हुआ तो रजिस्ट्री और लीज डीड पर 10 पसेर्ंट से लेकर 600 पर्सेंट तक का भार पड़ेगा। उदाहरण के रूप में अभी तक 3700 रुपये प्रति वर्ग मीटर की दर से आवंटित प्लॉट पर स्टांप 185 रुपये प्रति वर्ग मीटर की दर से लग रहा है। सर्कल रेट लागू होने पर यह दर बढ़कर 1100 रुपये रुपये प्रति वर्ग मीटर हो जाएगी।

क्या बोले अथॉरिटी अफसर
इस बारे में नोएडा अथॉरिटी के डिप्टी सीईओ सी. बी. सिंह का कहना है कि रेट तय करने का कार्य अंतिम चरण में है। इस पर जल्द ही फैसला होगा।

प्रमुख सचिव ने बताया कि 31 मार्च को वित्त वर्ष खत्म होने के बाद जीडीए के पास 703 करोड़ 72 लाख 87 हजार रुपये शेष रह जाएंगे। नए वित्त वर्ष के लिए 1215 करोड़ 54 लाख 50 हजार रुपये की आय का लक्ष्य रखा गया है। नए वित्त वर्ष में जीडीए 1742 करोड़ रुपये खर्च करेगा, उसके बाद भी 176 करोड़ 84 लाख 37 हजार रुपये बैलेंस रह जाएगा।

उन्होंने बताया कि मधुबन आवासीय योजना में ग्रुप हाउसिंग सोसायटियों के लिए एफएआर बढ़ाकर 2.75 कर दिया गया है। अभी तक एफएआर 2 था। ग्रुप हाउसिंग को बढ़ावा देने के लिए बिल्डरों को कुछ छूट दी गई है। आथिर्क मंदी के मद्देनजर छूट को आवश्यक माना गया है। इसके अलावा बैठक में बिल्डरों को कुछ अन्य छूट देने का फैसला किया गया है। अभी तक बिल्डरों को पांच साल में भूमि का पूरा पेमेंट देने के बाद ही कब्जा मिलता था। मगर अब सिर्फ 10 प्रतिशत एडवांस देकर ही बिल्डर कब्जा ले सकते हैं। बाकी रकम वह 6 साल में किस्तों में दे सकते हैं।

प्रमुख सचिव ने बताया कि गाजियाबाद के मास्टर प्लान को चार भागों में करके अलग-अलग जोनल प्लान बनवाया जाएगा। जोनल प्लान से लोगों को यह जानना आसान हो जाएगा कि किस जोन में कौन से विकास के कार्य होने हैं। इंदिरापुरम योजना में महागुन मेन्शन से शिप्रा मॉल तक जाने वाली सड़क का नाम शहीद कैप्टन देवेंद सिंह जस पर करने के फैसले पर बोर्ड ने अपनी मुहर लगा दी। वैशाली आवासीय योजना में अनंत एजुकेशन सोसायटी को और इंदिरापुरम में दशोहा एजूकेश्न सोसायटी को क्रमश: 2400 वर्ग मीटर और 2558 वर्ग मीटर भूमि का आवंटन किया गया है। वैसे स्कूलों के लिए 21 प्लाटों के लिए 70 प्रार्थना पत्र आए थे। बोर्ड बैठक में दो स्कूलों के लिए भूमि आवंटन के मामले ही रखे गए थे।

मधुबन-बापूधाम आवसीय योजना में जिन किसानों की जमीन का अधिग्रहण हुआ है उन्हें दी जाने वाली 6 प्रतिशत भूमि में 2 प्रतिशत कमर्शल भूमि देने और स्कीमों में 17 प्रतिशत का आरक्षण दिए जाने का प्रस्ताव शासन को भेज दिया गया है। एनएच-24 पर प्रकाश व्यवस्था को नगर निगम को ट्रांसफर करने के बाद 15 मीटर हाइट के एलिवेटर प्राधिकरण उपलब्ध कराएगा।

प्रमुख सचिव ने अधिकारियों को आदेश दिया है कि जिन स्कूलों को जीडीए अथवा किसी भी अथॉरिटी ने रियायती दरों पर भूमि का आवंटन किया है उन स्कूलों को अपनी बिल्डिंग के बाहर बोर्ड लगाकर यह दर्शाना होगा कि उनके यहां गरीब छात्रों के लिए क्या-क्या सुविधाएं दी जा रही है। यह आदेश नए और पुराने सभी स्कूलों के आवंटियों पर लागू होगा।

A bench comprising Justices Dalveer Bhandari and Mukundakam Sharma, while allowing the appeal of state of Haryana, noted `It may be pertinent to mention that in order to ensure that there is no evasion of stamp duty, circle rates are fixed from time to time and the notification is issued to that effect.

`The issuance of the said notification has become imperative to arrest the tendency of evading the payment of actual stamp duty.

`It is a matter of common knowledge that usually the circle rate or the collector rate is lower than the prevalent actual market rate but to ensure registration of sale deeds, at least at the circle rates or the collector rates, such notifications are issued from time to time by the appellants.' Justice Bhandari, speaking for the bench through his 17-page judgement further said, `It would have far reaching ramifications and consequences if the genuineness of the sale price entered into by the buyer and the seller cannot be questioned, then in majority of cases it is unlikely that the state would ever receive the stamp duty according to the circle rates or the collector rates. The approach of the High Court is totally unrealistic.' In the present case, Manoj Kumar had purchased a commercial plot measuring 788 square yards in Faridabad on November 10, 1999 and paid only Rs 31,000 as stamp duty by under-valuing the price of the plot at Rs 1, 95,000.

Faridabad District Collector, however, demanded the stamp duty of Rs 5,13,050 at the circle rate of the plot (i.e., Rs 4,200 per square yard) and the value of the property worked out to be Rs 33,09,600. Authorities told Manoj Kumar to pay the balance stamp duty of Rs 4, 82,050.

Source: www.indlawnews.com SC: No registration of property below govt circle rates

It is a bricks and mortar industry that caters to the local market. Yet it is so vast that it is creating untold riches. As people move to cities to build their careers, builders are fueling their aspirations for a dream home. The builders themselves have built their companies with successful initial public offerings and by attracting foreign investment. It's a good time to be in Indian real estate, with buoyant prices and never-ending demand.

Yet it is our contention that the industry, indeed the economy as a whole, is on some shaky ground.

First of all, the overall challenge India will face is in dealing with urbanization. We have clearly not been able to use urbanization as part of an inclusive and healthy economic growth strategy. In fact, we have been able to attain a commendable level of economic success despite failing urban infrastructure and services.

Today, even though only 30% of India's population lives in urban areas, cities contribute more than 60% of the country's GDP and account for 90% of government revenues. Urbanization is a key component of economic development. But, as reflected in the state of most Indian cities, little attention is given to their well-being and advancement. The dire and unbearable conditions of our cities are a result of slow and small-scale interventions to ever worsening conditions. They are a result of a complete lack of long-term strategic thinking.

Devita Saraf is the CEO of Vu Technologies; Prathima Manohar is president of The Urban Vision think tank in Mumbai.

Source: Wall Street Journal By DEVITA SARAF and PRATHIMA MANOHAR India's Real Estate Boom Is on Shaky Ground

District magistrate Deepak Agarwal has reportedly approved this decision in a meeting with officials of the department concerned. It will hike circle rates in Noida and Greater Noida by 20%. Besides, there is a possibility of a hike in circle rates for villages and rural areas.

To date, there are more than 9,000 properties which have not so far been registered in Greater Noida. These include 3,760 (agricultural sector), 2,806 (individual houses), 1,250 (group housing), 224 (industrial), 66 (institutional) 450 (builders) categories.

At present, circle rate in Noida ranges from Rs 18,000 to Rs 40,000. In Greater Noida, circle rates vary from Rs 14,000 to Rs 17,000. From April 1, the minimum circle rates in Noida will be Rs 20,000 while the maximum will be Rs 46,000.

In villages, circle rate at present are from Rs 8,000 to Rs 9,000. After the hike, it will be between Rs 9,000 and Rs 10,500

The district magistrate said a meeting in this connection has been held with the stamp and registry department. A decision to hike circle rate up to 20 per cent has been taken. The registry of property will be done as per the revised circle rates from April 1, the district magistrate said.

The nomenclature being used for the area is Noida Extension. This is to differen- tiate it from both Noida and Greater Noida, and also to make it clear to potential homebuyers that it's close to Noida and not as far as Greater Noida.

The new projects coming up here are located adjacent to Noida's Sector 121 and face the 130 m road now known as the Noida-Greater Noida Link Road. This stretch is current- ly under construction, with the first 10 kms likely to become operational within the next three months. A 60 m road connect from NH 24 also passes through the area.

This stretch is almost ready (work on 1.5 kms needs to be completed). "A 100 m wide commerical belt is planned on one side of the 130 m road as per the Master Plan 2021," says Mukul Singhal, CEO, Greater Noida Authority.

Metro connectivity is com- ing here soon, too, with the Delhi Metro Rail Corporation Ltd (DMRC) having sent a detailed project report (DPR) to the Greater Noida authori- ty proposing the route for Phase 1. As part of this phase the Metro is expected to con- nect the Sector 32 City Centre to Barolla, the Expressway, Pari Chowk and Knowledge Park 4, covering a total of 29 kms. Phase II of the project will connect Knowledge Park 4, sector I in Greater Noida and Noida sectors 71, 72 with the Sector 32 City Centre.

Source: The Hindustan Times By Vandana RamnaniAffordability extended: Noida Extension Is All Set To Become Delhi NCR's Next Budget Housing Hub

Developers are not only coming up with residential projects, but they are also developing Special Economic Zones (SEZs), hotels and commercial complexes. Some high-end projects are going to change the entire residential scenario of the region. A couple of premium residential projects are already receiving great attention from the property seekers. Although most of the residential projects involve high investment, projects for budget buyers are also to be developed in a 3 to 5 km stretch along the expressway with proposed rate of Rs 5000 to Rs 7500 per sq ft. As per realty experts, the already existing properties are experiencing appreciation in last couple of years of around 80 per cent, where the rates went up to Rs 2,900 per sq ft from Rs 1,600 per sq ft. In the affordable segment, while Jaypee Group has several projects in sectors 128, 134 and 151, Unitech has Unihomes in sector 117.

Future in the twin cities
The speed of infrastructure development in Noida and Greater Noida has been accelerated by many degrees and other projects like the DND Flyway and Taj Expressway. According to Ashwini Prakash, Executive Director, Paramount Group, "The value and demand for any property in NCR region largely depends on its connectivity with Delhi. The properties along expressway are in huge demand today. The reasons are its prime location and its connectivity with the national capital with the continuing developmental projects and the plan of an international airport."

Source: Mail Today By Kausar Firdausi The 8-lane Noida-Gt. Noida E' way Promises To Give Two Potential Locations A Realty Boost

• All things bright and beautiful

• Care, just round the corner

• Residential projects in the region

Home prices have not proved to be predictable, but they aren't the only factor buyers can consider.

And many real estate agents said it was time to buy as prices began to drop -- and continued to say it over the past several years as prices fell by an average of 33 percent in America's 20 largest cities.

Mr. Lereah would acknowledge that he had gotten it wrong. But from the perspective of many real estate agents, it is always a good time to buy.

"What they are really saying is that it is a good time to be involved in a transaction that generates a commission," says Barry Ritholtz, C.E.O. and director of equity research at FusionIQ, a quantitative research firm. He's also author of "The Big Picture," an irreverent blog on markets.

If agents are always motivated to make a deal, buyers are often asking an impossible question: "Will the price of this house go up?"

Although the National Association of Realtors said for many years that home prices historically don't fall, actually they do, and sometimes quite sharply. The housing market is complicated, and the future unknowable. Still, for clues to the overall direction of prices, Mr. Ritholtz advises buyers to look at three metrics: the ratio of median income to median home prices, which suggests whether people can afford a house; the cost of ownership versus renting; and the value of the national housing stock as a percentage of gross domestic product.

Source:The New York Times By DAMON DARLIN "Great Time to Buy" (Famous Last Words) As Real Estate Brokers Always Say