Yamuna Expressway Authority to deliver 6,000 flats, plots in coming three months: A new beginning in the real estate in Noida

More than seven years after they were allotted land by the Yamuna Expressway Industrial Development Authority (YEIDA), relief is in store for some of its 21,000 individual allottees.

The Authority is getting ready to hand over possession of more than 6,000 residential plots and flats in the next three months. The first batch of 3,055 allottees has already been issued possession letters by the Authority in January and February this year. This is a major boosts for the residential property in Noida.

According to officials, the 6,029 plots and flats will be located in sectors 18, 20, 22A and 22D. Allotment of this property was done between 2009 and 2013.  Further, the chief executive officer added that they will be handing over possession to allottees holding plot sizes of 300 to 500 metres each.

The official additionally confirmed that while 435 plots will be handed over in pockets 2A and 2C in Sector 18, 666 plots will be handed over in pockets O and Q in Sector 20. Nine hundred plots will also be given in Sector 22D, while 4,028 flats will be handed over in Sector 22A.

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DMIC township reconsiders land allotment rates

Top 5 Localities to Buy Affordable Apartments in Noida

Mr .Singh said that so far they had given possession to 55 allottees holding plots measuring 400 metres in pockets A and B of Sector 20. Elaborating on the plots already allotted. In all, 3,000 plots of 300 metres and 500 metres have also been delivered to applicants in pockets I and J of Sector 18 and in pockets U and T in Sector 20. He has, in principle, approved the distribution of Rs 65 core as enhanced compensation to able to pass an additional 6,200 plots and flats. While 4,200 flats will be [assed in Sector 22 and long with that 1,100 plots will be passed in sectors 18 and 20 and 900 plots in Sector 22D.

According to YEIDA officials, allottees are facing a delay in securing possession of their plots due to farmer agitations.Farmers from over 77 villages in the area have been agitating for a hiked compensation of 64.7% for their acquired land. In August 2014, the Uttar Pradesh government had ordered YEIDA to pay increased compensation to farmers.

The  Apartments inNoida will surely be benefited with this move.

DMIC township reconsiders land allotment rates

Integrated industrial township (IIT) in Greater Noida under the Delhi-Mumbai Industrial Corridor (dmic) project has on March 27 revised its land allotment prices beneath its land disposal policy. The decision was made during a board meeting held in Greater Noida. In the meeting, there was the presence of Alkesh Kumar Sharma, chief executive officer and managing director, DMIC, and Deepak Agarwal, CEO, Greater Noida Industrial Development Authority (GNIDA). The board also permitted an incentive plan for the first investor, along with reviewing the physical and monetary progress of the township.

As per the GNIDA officers, the bottom slab for plot size greater than 40,000 square meters has been decreased by way of nearly 27% for the industrial allotment of land in the under-construction 335-hectare township, in an effort to improve the walk-to-work idea. According to Mr. Agarwal the new costs may be Rs.5, 100, instead of Rs. 7,000 in step with per square meter in this slab. This has been done to attract investment and promote enterprise. It is made sure that made the land prices are attractive to the investor as well as competitive to woo industrialists. The development will also benefit the residential property inGreater Noida.

The previous land charges have been finalised in December last year.  But as an incentive, the board has additionally accepted an early investor rebate of 20% inside the land allotment charge for business plots. The first investor may be able to avail himself of this cut price supplied he begins creation straight away. Additionally, Mr  Agrawal stated that they are expecting anchor units, that are electronics production devices, IT-based totally, hi-tech, bio-tech and research and improvement gadgets to installation base here.

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Top 5 Localities to Buy Affordable Apartments in Noida

Your Quick Guide to Buy property in Noida

Noida Authorities Actions to Make Dearer Real Estate in Noida

Mumbai-primarily based developer shapoorji pallonji, which become presented the project on January nine, 2016, has been directed to finish the mission inside two years. Located within the Dadri-Noida-Ghaziabad investment vicinity of the hall, the township is predicted to provide employment to heaps of people.

The recent step by the board will surely boost the property in Greater Noida as it will invite participation from buyers and sellers.

Top 5 Localities to Buy Affordable Apartments in Noida

Noida, which is one of the largest industrial zones in India, has undergone tremendous changes over years. The city has grown by leaps and bounds in terms of real estate projects. Finding a right residential project for investment as well as end use is not a big deal due to the presence of leading builders in Noida.

From skyscrapers to high-end malls, villas, commercial complexes, and well-established gated communities, every type of property is available in Noida. The only problem when looking for property in the city is of having the right knowledge of different locations. For your convenience, here are the top five localities to invest in Noida’s real estate market.

Yamuna Expressway

This six-lane controlled expressway is one of the fastest growing localities in Delhi NCR region. A large number of upcoming projects in Noida have been launched in this locality due to smooth connectivity to Agra and Delhi.

Greater Noida

Starting from the Yamuna Expressway, this suburban part of Noida city has developed terrifically in terms of infrastructure. The launch of many commercial spaces and educational institutes contributed in demand for residential property in Greater Noida. This is a great place to buy properties in Noida for investment purpose.

Noida Extension

Smooth connectivity to Noida, Greater Noida and Ghaziabad has played a vital role in the development of this area. Several builders found this area suitable for residential and commercial projects. Noida Extension is a great choice for the home buyers looking for affordableapartments in Noida.

Sector 74 and 79

Close proximity to the National Highway (NH) 24, Greater Noida Expressway and part of South Delhi, makes these sectors a hot property destination. Apart from this, commercial spaces and educational institutions also drew the attention of investors and builders in Noida towards Sector 74 and Sector 79.

Noida Authorities Actions to Make Dearer Real Estate in Noida

Soaring prices in all of these localities are making them hot property investment destinations for those looking for high capital gains. Further, with smooth connectivity, well-developed social infrastructure and proximity to industrial zones, these areas make a good choice to live and spend a life. This is the reason behind the equal demand of properties by both the investors as well as end-users in Noida.

Noida Authorities Actions to Make Dearer Real Estate in Noida

Whereas governments in other suburbs of the NCR may be taking steps, either intentionally or unintentionally, to bolster real estate in their respective region, it seems that authorities in Noida may be making real estate in Noida more expensive for buyers and may eventually lead Noida to lose some of its appeal as an affordable locality to own real estate in the NCR. Recent decisions by authorities in Noida to hike the land allotment rate as well as stamp duty is expected to hurt market sentiments perhaps dangerously enough to shift investment intended towards property in Noida to other regions of the National Capital Region.

Such decisions, in a part of the capital region which is largely considered a magnate for first time homebuyers seeking an affordable first home, hurts the sentiment that property in Noida is more promising when catering to the masses of the NCR. Whereas property in New Delhi is well out reach of many in the capital and owning a home in the other promising suburb of the NCR in Haryana too has become costly, Noida presented itself as a great alternative to middle class households than regions with much more extravagantly priced homes.

Newcomers to the NCR would often be chided that settling down in Delhi is no joke, yet settling down and purchasing property in residential projects in Noida was largely considered less daunting and this suburb seemed to welcome migrants and first time homebuyers with grace and affability. The recent decisions by concerned authorities may harm the current hallowed status Noida and its surroundings regions enjoy as providing affordable homes in a region of the country where prices of real estate are rapidly becoming unaffordable to newcomers.

The impact of the decision is likely to affect the price of flats in Noida as well as add additional burdens on builders in Noida who may now have to concern themselves with higher land allotment rates in addition to already higher input costs and higher costs for machinery and equipment as well. Real estate developers in Noida are almost certain to pass on such additional costs to the consumer making real estate in Noida more expensive to end users seeking property in the suburb.

As opposed to many other parts of the capital region, Noida caters to end users and Greater Noida in particular is already well known as a preferred location for homebuyers seeking inexpensive lodgings. The decision to increase the stamp duty in Noida by two percent is likely to prove pernicious to residents of the city many of whom are paying a month EMI for upcoming projects in Noida the completion of which has possibly be postponed several times while at the same time these homebuyers are paying rent for their current home. By increasing the stamp duty by 2 percent such a homebuyer has to bear an addition burden in addition to many of the others he or she has to somehow accommodate for.    

Such significant policy changes at a time when builders are already coping with additional challenges such as delays in the completion of a large number of residential projects in Noida shall likely harm real estate in the region. If the concerned government authority deems such changes necessarily for the fulfillment of a new mandate, perhaps such measures may be introduced at a more opportune time when there may not be so many unalterable additional pressures upon builders in Noida.

Your Quick Guide to Buy property in Noida

Buying a property in a posh locality has become everyone’s dream. However, there are various factors that play an important role while visiting a property and finalizing it. Whether it is residential or a commercial property, getting the best deal out of it has become crucial for many buyers and this is the reason people undergo a thorough research.

When we talk about Noida, its infrastructure is divided into different sectors (localities) and they have something or the other to offer to an interested buyer. With promising deals and modern-day facilities, people who have been planning to buy a property from a long time are getting their hands on it. Noida itself along with Greater Noida, Yamuna Expressway and property in Noida Extension are few of the locations that are talk of the town these days.

House-Hunting Tips

Legitimate Developer: Very often we come across a few headlines stating that a project has been shelved just after it was announced. This happens because of the fact that there are some unauthorized and first time builders who have not registered their projects beforehand. Therefore, buyers should opt for a developer in Noida who is genuine and reputed in order to prevent untimely possession and legal hassles.

Project Designs: Paying a huge amount of money does not necessarily mean that your property is spread across hundreds of acres. Tall buildings in Noida have been designed due to lack of space, which proves out to be a troublesome affair.  In this situation, one should look out for a property that has been built with terraces and open parks to allow a breather.  

Basic Facilities: Water shortage has become one of the core situations that need to be addressed by every developer. Even in developed areas such as Noida and Greater Noida, people are facing a scarcity in regular source of water connected to their homes. Thus, while finalizing a property, do not forget to tackle with the issue that has been growing rapidly.

The fundamental idea of buying property is to secure a lump sum amount of money at one place without having to bother about future consequences. That is why interested buyers spend their time in investigating and saving money to ensure that it is well spent.  Hence, in order to be completely sure about a project, one should always find out if the developer has secured all the approvals or not.

Along with the written agreement, developer should also provide you with all types of security information about the project. A plethora of builders in Noida have been scrapped and suspended last year due to incomplete registration documents and slow approval process. Our country is yet to prepare well-laid-out guidelines in real estate, which would make it a lawful process.

Irrespective of the status of any builder, no amount of investigation is enough when you are investing a huge amount of money and it always helps to be extra cautious. Factors such as price of the property, mode of payment as well as agreements are a few to name. A buyer should always look out for the best method to spend their money.