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Gurgaon is a better property destination.

Gurgaon is a better property destination.

August 17, 2015 in Real Estate News

Often called the 'Millennium City', Gurgaon saw demand for new homes slowing. However, the slowdown in demand had no effect on prices, which rose by an average 4.5 per cent across projects over the three-month period. Fewer project launches during the quarter, lower inventory and rising speculation among investors led to a strengthening of prices. Real estate biggies like DLF and Unitech, which have executed large projects in Gurgaon, launched fewer apartments to focus on execution and inventory clearance. The absorption rate in Gurgaon is slowing but is still the highest in the country among tier I cities indicating robustness in the market. Gurgaon has the lowest unsold inventory of unsold flats in the country, expert says. According to experts, Gurgaon will continue to show strength on the back of rising number of end-users and investors. (source: by www.gurgaon property bazaar.in)  

Commercial Property Investment Is Much More Profitable, Safe and Stable….

Commercial Property Investment Is Much More Profitable, Safe and Stable….

August 14, 2015 in Real Estate News

A commercial property is the most stable asset and attraction in real estate market today. It is felt that investing in commercial properties is more profitable than residential properties. The ready to use commercial properties are wisely priced as compared to residential properties. It can only go up as construction and land cost is increasing for new projects, thus pushing prices upwards for ready to move properties.Commercial investment fetches higher rental value as compared to residential investment. Commercial Developers are offering very lucrative plans such as Assured Return on investment till possession, Lease Guarantee for the property post possession, Buy back options, Possession Linked Plans. " Gurgaon are the hubs for commercial properties. With major corporate offices and multinational companies opening their branches in these locations, investment in commercial real estate will be highly beneficial both in short and long run." We are all aware of the fact that real estate market is going through a consolidation phase, thus investment in commercial real estate will prove immensely beneficial for both who are looking to have regular monthly income from leasing their commercial properties or those who want to use the space for their own business and saving on monthly rent thereby.

The return on investment is calculated in two ways in a commercial property, one being the rent which is approximately 8-9 percent per annum of the cost of the property plus capital appreciation which is approximately 10 percent annually thus giving a stable return of 18-19 percent per annum.

For example a shop in a commercial complex costing about two crore shall give a rent of Rs 1,00,000 per month plus its cost shall increase to about 2-2.25 crore within a time fame of three years. Whereas yearly rental yield on residential properties hover close to mere three percent.

With the new government, more thrust has been made on reviving business sentiment. Proposals like increasing foreign direct investment limits, real estate investment trust and smart cities projects will bring increase flow of money and demand for commercial properties. We are getting very high volumes of business from developers engaged primarily in development of commercial projects.

With the new government, more thrust has been made on reviving business sentiment. Proposals like increasing foreign direct investment limits, real estate investment trust and smart cities projects will bring increase flow of money and demand for commercial properties. We are getting very high volumes of business from developers engaged primarily in development of commercial projects.

Delhi NCR has highest concentration of under-construction real estate projects but Gurgaon has already proved to be a hot favourite for commercial property investors. Gurgaon will be prime locations for corporate offices. Thus, investors in commercial properties are likely to get greater profit margins in days to come.

Is L Zone Welfair Or Unfair?

Is L Zone Welfair Or Unfair?

August 12, 2015 in Real Estate News

The Zonal Development Plan for Zone L (West Delhi-III) has been approved by the Central Government, vide letter No.K-12011/23/2009- DDIB dated the 8th March 2010 under Section 9(2) of Delhi Development Act, 1957. Legal experts, realtors, urban development experts and revenue officials are of the view that when a policy is under review, setting up a welfare society and collecting money for it is illegal.“Earlier, people used to come together to form a co-operative group housing society (CGHS) and apply to DDA for land at concessional prices to build apartments for its members. However, since 1990, registration of CGHS is on hold in Delhi and people have started forming welfare societies under the Society Registration Act for the same purpose. All about the policy Agriculture land of villages adjoining Najafgarh, Dwarka, Karnal highway, Burari etc are to be developed for residential purpose under the land pooling scheme. Landowners in these areas will transfer their land to DDA, which will retain 52% land for developing civic facilities such as roads etc and return the remaining 48% to the landowners in case they own land from two hectares to 20 hectares. For those with 20 hectares and above, DDA with retain 40% land and return 60% to the landowners. To compensate landowners for loss of land, DDA will award them higher floor area ratio (FAR), which will allow them to construct more apartments in projects on their land and sell the same for a profit. Land at present in the aforementioned areas is owned by farmers and developers. Of late, welfare societies have started buying the properties from farmers in anticipation of the policy being implemented.The challenge is that till now DDA has only prepared the draft regulation of the policy and it is yet to be notified. Real estate experts say it is too early to say which sector of a particular zone will come under the policy as DDA will not consider areas not conforming to the terms and conditions of the policy. Legal experts, realtors, urban development experts and revenue officials are of the view that when a policy is under review, setting up a welfare society and collecting money for it is illegal.“Earlier, people used to come together to form a co-operative group housing society (CGHS) and apply to DDA for land at concessional prices to build apartments for its members. However, since 1990, registration of CGHS is on hold in Delhi and people have started forming welfare societies under the Society Registration Act for the same purpose. This is illegal in my view because such welfare societies are basically NGOs which, instead of doing working for the welfare of the society, are indulging in economic activities,” says a real estate developer in Dwarka.   “These welfare societies can easily run away with the homebuyers’ money. They are promising the moon but in reality investors may end up getting nothing. Haryana experimented with a new model of land assembly under the Haryana Development and Regulation of Urban Areas (HDRUA) 1975 permitting, under grant of license from the DTP, private developers to assemble lands from the market through negotiations and develop these to build residential colonies. Some welfare societies have now converted to multi-state cooperative societies to legalise their activities.  

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