Blog

DEVELOPERS CHD Developers Launches Branded Residences in 106 Golf Avenue in association with JNB & BridgeStreet

DEVELOPERS CHD Developers Launches Branded Residences in 106 Golf Avenue in association with JNB & BridgeStreet

May 28, 2016 in RealtyFact Staff

CHD Developers Ltd., a leading Real Estate Developer, today announced a strategic tie-up with JNB Group and BridgeStreet Global Hospitality, a premier international provider of branded residences, serviced apartments and suites.

Through this tie up, CHD will offer branded residences in its upcoming Golf themed Project, CHD 106 Golf Avenue, strategically located in Sector 106 on the Dwarka Expressway Gurgaon.

Named as “Residences by BridgeStreet” these 4 BHK Branded Apartments will boast of Five Start amenities like Concierge Services, House-Keeping, Laundry, to name a few.

Speaking on the occasion, Mr. Gaurav Mittal, Managing Director, CHD Developers Ltd, said We are very excited to introduce Branded Residences in our portfolio. Indians today are well travelled and well informed. They know about emerging lifestyles housing trends abroad and aspire to have them in India too. This strategic alliance will help us cater to the needs and aspirations of this niche yet evolving segment.

“Strategically located off the Dwarka Expressway, CHD 106 Golf Avenue is the only Golf themed project in that upcoming suburb. The project is perceived as one of the most sought after lifestyles in that micro market and features a 6 Hole Pitch & Putt Golf Course and a Unique Golf Themed Club House” Said Mr. Mittal.

Other Amenities at CHD 106 Golf Avenue includes a Basketball court, Cricket Pitch, Badminton court, skating rink for the sports lovers, Herbal & Aromatic Gardens, Picnic Park and Meditation greens for Nature lovers, and Mini Adventure Area, Kids Splash Pool, Crazy Golf Area, Snakes & Ladder and Chess on Floor for the kids.

CHD 106 Golf Avenue also enjoys a great location advantage. Located 0 Minutes from Dwarka Expressway, it is just 5 mins from Delhi, 10 mins from the upcoming Diplomatic Enclave, 10 mins from International Airport, and just 2 mins from proposed Metro Station

(source by:-Realty Fact)

Huda to float 11 new sectors in Gurgaon, raise Rs 6,000 crore

Huda to float 11 new sectors in Gurgaon, raise Rs 6,000 crore

May 27, 2016 in Real Estate News

In fact, Huda’s chief administrator Vikas Gupta held a meeting on March 16 to finalise the proposal to launch new sectors to raise funds by selling plots. New sectors are likely to be launched on March 31. Once launched, more than 15,000 residential and hundreds of commercial plots will be up for grab in these 11 sectors. “Huda can earn more than Rs 150 crore by just selling forms (one form @ Rs 1,000) for a draw of lots for allotment of plots,” a senior Huda official told TOI on Saturday.

In the absence of Gurgaon from the list of urban areas where new sectors are to be launched, the Huda official said there are 115 sectors under Gurgaon-Manesar plan, out of which 57 sectors were developed by Huda and sectors 59 to 115 is being developed by private developers. “We have no land available for new sectors in Gurgaon as most of the land is owned by private developers. So these sectors will be launched in other places,” he said.

Huda is going through deep financial crisis and the state government has expressed its inability to provide financial assistance. Huda is now trying to raise fund from its own resource to complete the ongoing development works.

According to an estimate, it needs over Rs 23,000 crore for development works in Gurgaon alone.

Few days back Huda has initiated the auction of 96 commercial properties in Gurgaon, Dharuhera and Rewari, which is expected to raise around Rs 300 crore. The registration for auction has started from March 23 and e-auction will start on March 31. “Huda is facing funds crunch, which is affecting the development works, so we are exploring different ways to raise funds,” said the senior official.

In the past few years, as Huda went into debt from surplus, development projects have either stalled or have been moving at a snail’s pace.

(source by:-Realty Fact )

Dwarka expressway: New Palam Vihar residents to protest against delay in allotment of alternate plots

Dwarka expressway: New Palam Vihar residents to protest against delay in allotment of alternate plots

May 27, 2016 in Real Estate News

GURGAON: The completion of Dwarka Expressway is hitting one after another road block, first land owners, who had agreed to give up land under land pooling for rehabilitation of the oustees of the project raised objections. Now residents of New Palam Vihar, who will be displaced for the completion of the road are accusing Huda for delay in allotment of the alternate plots.Residents have given ultimatum to Huda to resolve the issue by April 17 or else they will go on protest from April 18 and even file contempt petition before Punjab and Haryana high court. New Palam Vihar residents are demanding for alternate plots in sector 110A.On Wednesday MCG Councillor Rishiraj Rana along with residents of New Palam Vihar met Huda administrator Hardeep Singh and gave him ultimatum to allot plots by April 17 or else they will start protest from April 18 outside the Huda office.Rana said on the petition of New Palam Vihar’s residents, Punjab and Haryana high court had directed Huda to give alternate plots to oustees of Dwarka expressway. “Huda had given affidavit in court promising to give alternate plots to oustees in sector 110A, since then one year had passed and people are still waiting for allotment of alternate plots,” he said adding that people are getting only assurance.“There are many people who had to repair their house, but they are not able to carry repairing work fearing that house will be demolished some time and they will have to invest in constructing new house,” said Rana adding that prolong confusion and delay in allotment of alternate plots have put people under stress. Huda administrator Hardeep Singh said they are going to have a meeting with additional chief secretary P Raghvendra Rao on this issue soon. “We will put all the issues related to Dwarka expressway in the meeting to find solution to expedite the entire process and complete the project as early as possible,” he said. Two days back land owners who had agreed to give up their land under land pooling scheme for rehabilitation of project oustees have raised objections leading to postponement of the draw of lots scheduled for allotting plots to oustees. Around 528 houses in New Palam Vihar, Tekchand Nagar and Kedki Daula are coming in the way of the Dwarka Expressway. All these oustees were supposed to be rehabilitated by allotting alternate plots in sector 110A and 37C. Highlighting their objection land owner Azad Singh Rana, who has 17 acre of land in sector 110A, said, “There is no clarity over draw of allotment of plots under the land pooling scheme. We have sought certain clarification till then we will not participate in draw of lot.” He said there is no clarity on the development charge to be paid by land owner. Beside there are many other issues related to the entire process, which is not clear. (source by:-Realty Fact )

300 Gurgaon home buyers protest against delayed possession

300 Gurgaon home buyers protest against delayed possession

May 27, 2016 in Real Estate News

GURGAON: Over 300 home buyers protested against a real estate developer in Sector 103 of the city.The buyers came with furniture and household goods, in a gesture to shift to the apartments at the earliest.The buyers alleged that the developer had to give possession in 2015, but construction is not even completed in the entire township.Reportedly, more than 95 per cent buyers have given 90 per cent payment for their apartments.Recently, some buyers of Noida Extension or Greater Noida (west) had stirred action against delayed occupancy of apartments.The Federation of Association of Apartment Owners (FedAOA) of Ghaziabad had demanded action against developers over delay in handover of possession of flats to the owners. In a letter to UP CM Akhilesh Yadav on Tuesday recently, the federation had demanded framing of rules under the UP Apartment (Promotion of Construction, Ownership and Maintenance) Act, 2010, to force developers, who miss the deadline of handing over flats, to pay compensation to homebuyers. (source by:-Realty Fact )

Haryana govt to increase FAR for residential plots

Haryana govt to increase FAR for residential plots

May 27, 2016 in Real Estate News

This means the state’s urban spaces, particularly NCR cities like Gurgaon and Faridabad, will get both taller and more congested as the state rakes in a revenue windfall through sale of FAR. The changes were announced through a new policy notified by the department of town and country planning (DTCP) on May 6. The increase in FAR approved by the government is in the range of 0.35 to 0.80, depending on the size of the plot. Owners of large residential plots and those converted for residential use through change of land use certificates have also been allowed to increase ground coverage. So, if a plot’s earlier FAR was 1.65 and is now 2 (see box), it means that for a 100 square metre plot, an owner who was allowed to build up to 165 sq m can now go up to 200 sq m. “The FAR and ground coverage norms for residential plots being followed by DTCP were framed way back in 1977 and, with the passage of time, a need was felt to revise the same in view of the ever increasing housing demand in urban areas,” said additional chief secretary P Raghvendra Rao. He said representations had been made to the government for revision of FAR and ground coverage norms from time to time. The government felt the demand was justified because land is scare and costly and more FAR will allow vertical growth. “The objective behind revising the norm is to make intensive utilisation of urban land and preserve agricultural land,” said a senior Huda official, adding acquisition of farmland over the years had strained the coffers of government agencies because of the high rates of compensation. The additional FAR will be purchasable. “It will be applicable to licenced colonies and Huda sectors. The revenue generated through it will go to municipal corporations or Huda,” said a senior government official in Chandigarh. The new norm will come in handy for MCG, which is in the process of taking over developed Huda sectors in the city. MCG will earn money through additional FAR in these areas.

Govt must ease approval process for realty projects: Godrej

Govt must ease approval process for realty projects: Godrej

May 27, 2016 in Real Estate News

NEW DELHI: Although the ease of doing business has improved in the last two years of the NDA government, more work needs to be done especially in the real estate sector that has “complicated” approval process, according to leading industrialist Adi Godrej. The $4.1-billion Godrej Group has a large presence in the real estate sector through its firm Godrej Properties, besides in a variety of other sectors, including FMCG, consumer durables and agri-products. “Real estate permissions have become very complicated in our country. (As permissions are) given by the state governments, the Centre should work on improving the ease of starting in new real estate projects,” Godrej told PTI in an interview. According to realtors’ apex body CREDAI, it takes at least 18 months to get various approvals for starting a real estate project. While commending the government for taking up a slew of measures to improve ease of doing business, he, however, said: “They have said that they would not levy retrospective taxes, clarified many things in many ministries. One of the things on which they may have to do is ease of doing business in real estate permissions.” Overall, he said: “Ease of doing business has improved but some more work needs to be done. We should continue to keep improving.” Rating the performance of the Modi government as “by and large good”, Godrej said: “The only thing which remains to be delivered on the major reforms is GST.” He hoped that it would be passed in the monsoon session and likely be implemented by April 1, 2017.

Credai seeks changes in ‘rigid provisions’ of Real Estate Bill

Credai seeks changes in ‘rigid provisions’ of Real Estate Bill

March 15, 2016 in Real Estate News

Nashik: The passing of the new Real Estate Bill in the Rajya Sabha last week has lifted the spirits of the state Confederation of Real Estate Developers' Association of India (Credai). The association said the real estate sector will now get the status of industry, but also sought changes in some "rigid provisions" of the bill. The bill would be applicable for projects coming up on 500 sq m onwards or minimum eight flats. Sunil Bhaybhang, vice-president of Credai (Maharashtra), said, "This proposed bill is really good for the builders or developers working as per norms. It will not only bring transparency in the sector, but also give its the status of industry as it will be under the regulator. Though a really good decision by the Centre, we need changes in two-three provisions of the bill." "As per the proposed bill, it will be mandatory to register projects by providing necessary details online. The provision should be limited to only submission of information online and the projects should not be delayed for want of other permissions or NOCs. Moreover, the condition of depositing 70% of the collections from buyers in a separate account towards the cost of construction is also rigid,. The cost of land in cities such as Mumbai, Pune and even Nashik is higher. Hence, it will be difficult for the builders if he is allowed to withdraw 30% of the total collection from buyers. The deposit limit should be reduced to 50%," Bhaybhang said. "The sector will become organised in a real sense once the bill comes into effect. However, the number of licences to the industries have been reduced under 'ease of doing business'. The real estate sector should also get the benefits in the form of reduction in the number of permissions and NOCs," he said. "The Real Estate Bill should be applicable to the projects coming up after its implementation. Moreover, the ongoing projects should be exempted from the bill," said Jayesh Thakkar, president of Credai (Nashik). "The projects come up on 15-20 acres or more and continue for three to five years. A new trend always enter the realty sector after every three-four years. Hence, the builders have to seek consent of two-third of the allottees if they want any changes in the projects. The government needs to remove this condition," Bhaybhang added. # Highlights of the proposed Real Estate Bill # Developers will have to deposit 70% of the collections form buyers in separate accounts towards the cost of construction # Norms for registration of projects will be for the projects coming on plot area of 500 sq.mts onwards or minimum eight apartments # Carpet area has been clearly defined which forms the basis for purchase of houses, eliminating any scope for any malpractices in transactions (source by:-The Times of India )

New real estate law may cover flats already sold

New real estate law may cover flats already sold

March 12, 2016 in Real Estate News

NEW DELHI: The government is making an effort to make the consumer the king, once the real estate bill becomes law. It's only home-buyers who will decide whether a builder can transfer majority rights and liability to a third party or change the layout or design of a project. Residents associations will be formed within three months of the majority of flats being booked to facilitate handing over of projects in time. Moreover, housing minister M Venkaiah Naidu told Rajya Sabha on Thursday that his ministry will consider bringing already sold flats under this law while making rules. Such a provision will bring huge relief to lakhs of buyers since most of the real estate projects delayed were launched years back. The bill includes provisions which make it incumbent on builders to submit their details and of the project along with the photographs of promoters while applying for registration. They will need to submit details of the projects launched by the promoters in the past five years with their actual status. "This will work like reviews that people go through before booking at a hotel room," parliamentary select committee chief Anil Madhav Dave had said in the Upper House. The bill specifies that in case there is substitution of developer/ builder, the new promoter will take all the liabilities and this change won't trigger any extension of the deadline. The buyer will have the right to get all details of the project including government approvals and floor plan besides quarterly progress. The bill mentions the regulator won't extend the deadline for completion of project beyond one year in normal circumstances. (source by:-The Times of India )

Real estate bill will curb graft: Experts

Real estate bill will curb graft: Experts

March 12, 2016 in Real Estate News

Kolhapur: The city's real estate sector has welcomed passing of the much awaited Real Estate Bill, which aims to protect the interests of buyers and bring more transparency, in Rajya Sabha on Thursday. The business fraternity expects that the new Act will eliminate ill-practices that have entered the business in the absence of regulatory laws. Rajya Sabha has cleared the Real Estate (Regulation and Development) Bill at the national and state levels, along with many other provisions to regulate the unorganised business sector. Local developers and builders said though the implementation of the Act will take a little bit of time, the overall provisions to make the business clean are satisfactory. "We were certainly looking forward to the development. It is good that the Bill has been finally passed. But it will now go to the President after which its details will be chalked out. We are now awaiting appointment of the Maharashtra state real estate regulatory authority, which would have a greater impact on the business. The bill as well as provisions of the state government are expected to remove ill-practices from the business," said Rajeev Parikh, vice-president of Confederation of Real Estate Developers' Associations (Credai), Maharashtra chapter. "Those engaged in malpractices will be automatically eliminated after implementation of the law. Only honest builders will survive. The builders will have to provide whatever they have committed in the original plan. They cannot run away from their responsibilities. The Escrow account provision will ensure that the customers' money is being utilised for the project they have chosen," Parikh added. The local branch of Credai believes that the builders, who were cheating by selling one flat to many customers, will be restricted from entering the business. "We have only one concern. There is no clarity whether the Act will be applicable for ongoing constructions. If so, then some of the builders may face problems as their work may not be according to the guidelines of the new Act," said Mahesh Yadav, president of Kolhapur Credai. "We welcome the provisions. The state authority must be established soon so that the builders can judge implementation of the Act," he added. 'Fraternity hopes property sale boom' As many as 3,500 houses are under construction in the city and adjoining areas in which over Rs 700 crore has been invested, according to Credai. In 2013 and 2014, the business experienced a slump because of which not more than 1,500 units were sold. In 2015 and particularly in the last six months, the business started gathering momentum. Now, the fraternity expects boom in the sale of residential and commercial properties by year-end. (source by:-The Times of India )

Hope for homebuyers as Rajya Sabha passes real estate bill

Hope for homebuyers as Rajya Sabha passes real estate bill

March 11, 2016 in Real Estate News

NEW DELHI/MUMBAI: Rajya Sabha passed the much-awaited real estate bill on Thursday, prompting PM Narendra Modi to hail it as "great news for homebuyers". The bill, which seeks to regulate the property sector, bring in transparency and help protect consumer interests, is slated to be taken up by Lok Sabha on Monday. According to the bill, moved by housing and urban development minister Venkaiah Naidu, builders will have to deposit a minimum of 70% collections from buyers in a separate escrow account to cover cost of construction and land. State-level Real Estate Regulatory Authorities will be established to regulate transactions related to both residential and commercial projects and ensure their timely completion and handover. The bill covers any project that is more than 500 sq m or has more than eight apartments (states can lower this requirement further). It provides for imprisonment of up to three years for promoters and up to one year for real estate agents and buyers and/or monetary penalties if they violate orders of appellate tribunals. Under the real estate bill passed by RS on Thursday, no prelaunching of projects will be allowed without getting all approvals from the local development or municipal authority and without obtaining registration from the regulator. All incomplete projects are to come under the regulation. The rules that will be made subsequently will make provisions for taking care of already completed projects. Appellate tribunals will have to adjudicate cases in 60 days as against the earlier provision of 90 days, and regulatory authorities will have to dispose of complaints in 60 days while no timeframe was indicated in the earlier bill, Naidu said. All projects will have to be registered with regulatory authorities, and developers will have to disclose project information including details of the promoter, project, layout plan, land status, status of approvals and agreements along with details of real estate agents, contractors, architects and structural engineers.

 uilders can also no longer go scot-free by putting up flashy designs or photographs of a project to attract buyers and failing to deliver projects that match the pictorial claims. The bill states the builder has to return the payment with interest to buyers who are affected by such "incorrect, fast statement contained in the notice, advertisement or prospectus or the model apartment, plot or building as the case may be". The authority can even order "compensation" to consumers in case of misleading advertisements.
Builders said they welcomed the broad features of the bill, though sources in the industry stated that they were upset that all the onus was being placed on them when delays could also take place due to permissions being granted late and other bureaucratic bottlenecks.
(source by:-The Times of India )
   

© Copyright 2017
CS LandTraders India Pvt. Ltd Design by Hostcrux

Quick Contact

Your Name (required)

Your Mobile (required)

Your Email (required)

Your Message


Hot Deals

>> <
  • 68 avenue
  • Baani Center Point
  • JMS Crosswalk

Micro Sites

Visit Us On TwitterVisit Us On FacebookVisit Us On Google PlusVisit Us On YoutubeVisit Us On Linkedin