agarwalestatefirm-blog

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Major drive to revive wetlands, ponds, in Noida The Noida Authority is planning to revive at least six wetlands, lost due to unregulated human activities, before the monsoon season, according to officials. The Noida Authority has said that it aims to mobilise public support, for the conservation of water during the monsoon and revive wetlands in Sector 91, Sector 85, Gejha and Bakhtawarpur villages, besides two at the upcoming biodiversity park, a senior official said. The action comes close on the heels of prime minister Narendra Modi writing to all village heads across the country, stressing on the idea of conserving water during rains, the officials said. “At Sector-91, there is a wetland area spread across 12 acres, which has remained neglected for a long time. Now, the rubble and other kinds of waste surrounding the area, have been removed while channels are being widened for harvesting and storage of rainwater during monsoons,” Noida Authority’s general manager Rajeev Tyagi said. He said native grass varieties and trees were being planted, to ecologically restore the area, noting that the effort was not only on raising the groundwater level but also to help address the local flooding problem during heavy rain episodes. “Along with this, awareness is being raised among local residents of the area, regarding conservation of water through various campaigns such as nukkad natak, dance performances, paintings on metro pillars related to water conservation, among others,” Tyagi said. (at Noida) https://www.instagram.com/p/BzzQSF1pUrF/?igshid=633uhlzhobmk

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Online bid for 259 residential plots in Noida to be held July 19-23 Online bid for 259 residential plots in Noida to be held July 19-23 In December 2018, the Authority held online auction for the sale of land and around 440 plots across sectors 12, 31, 33, 39, 47, 48, 49, 51, 52, 55, 70, 72, 93B, 99, 100, 105 and 122 were to be sold.Meenakshi Sinha |  TNN |  June 26, 2019, 10:00 IST The Noida Authority is going to hold online auction of 259 residential plots in the developed sectors from July 19 to 23. While most plots in the area have already been allotted, the ones to be auctioned are unsold/vacant till now. Since Noida hardly has any land to sell, the auction is being seen as a means to generate revenue. The officer on special duty, Noida Authority, Avneesh Kumar said: “Only those people or applicants who would have applied for the plots till July 8 and completed all requisite online formalities, would be eligible to take part in the auction.” In December 2018, the Authority held online auction for the sale of land and around 440 plots across sectors 12, 31, 33, 39, 47, 48, 49, 51, 52, 55, 70, 72, 93B, 99, 100, 105 and 122 were to be sold. This time, the auction will include some plots that were part of the previous lot but remained unsold. While the plot sizes vary from 100 sqm to 500 sqm, the price range is from Rs 55,000 per sqm to Rs 1 lakh per sqm. While rates in Sector 44 are highest, sector 122 has the lowest price. Applicants for the residential plot scheme had to register themselves and obtain a user identity number and password (at Noida) https://www.instagram.com/p/BzPKQxsJm_L/?igshid=v3m97fuz75s4

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Ghaziabad development body to hold supervisors accountable if building falls Officials said the existing GDA work manual is vague as it does not spell out the exact nature of job that supervisors and work mates do. The Ghaziabad Development Authority (GDA) has decided to introduce a proper job manual for all its supervisors and work mates so that responsibility can be fixed on erring officials in case of disasters like the Akash Nagar building collapse.  GDA currently has 322 supervisors and work mates on its payroll. Officials said the existing GDA work manual is vague as it does not spell out the exact nature of job that supervisors and work mates do. “We encountered the problem when we started an investigation into the Akash Nagar building collapse last year. As per for our internal inquiry, supervisors and work mates of that zone were equally responsible for the collapse, in which several lives were lost,” said VN Singh, chief engineer, GDA. “Since the nature of job was not properly defined for supervisors and work mates, they opposed action that were taken against them on the same ground. Now, it has been decided that GDA should come up with a proper written work manual for supervisors and work mates. It is being prepared and will be placed in the board meeting for approval,” added Singh. Under the new manual, in case contractors are not doing their work properly, it will be the job of supervisors and work mates to report the matter to the respective zone’s junior engineer and higher officials, according to Singh. “Being GDA’s eyes and ears, supervisors and work mates are regarded as foot soldiers whose job is also to report broken road, electricity problem, encroachment and keep a tab on cleanliness in societies, to name a few. A proper manual will help in fixing accountability,” he added. (at Ghaziabad, India) https://www.instagram.com/p/BzE4SMjppc_/?igshid=jo9dmk6t1tgj

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Residential real estate in India is set to make a comeback A historically robust and lucrative sector with an annual return of 20 percent (1991-2014), the Indian real estate market has witnessed a slowdown in the past few years. Lower than expected growth rate in the sector demanded new initiatives to facilitate a resurgence. RERA (Regulation and Development Act) and GST (Goods and Services Tax) are now the prime factors, among various others, that are facilitating a revival in the real estate sector. Recent estimates after the implementation of RERA and GST indicate a 6 percent growth in housing sales across 8 major cities in 2018; a 75 percent increase in new launches vis-à-vis 2017 and an 11 percent drop in unsold inventory levels The growth outlook across both residential and commercial real estate is turning positive now. According to estimates, real estate in India to become a $1 trillion market by 2030. Let’s take a closer look at what’s making things to change for the positive. RERA and GST The introduction of the RERA Act in 2016 and GST in 2017 proved to be watershed moments in the real estate sector. These structural reforms have tightened the regulatory framework in a previously fragmented and unorganized sector, making way for a market that is much more consolidated, mature, and therefore capable of attracting sustainable growth and investment. RERA has helped boost housing demand by empowering buyers, ensuring that serious players are better placed because of track of project completions and hence better customer confidence. Though the industry is still in throes of change, this augurs well in the medium to the long term for the sector. GST too has played a pivotal role in reviving the market. Like RERA, it injects some much-needed transparency and accountability into the sector with a simplified tax structure and greater compliance. The GST rate cut applicable from April 1, 2019, will further ease the sector and help boost housing demand. For under construction properties in the premium housing segment, the rate is now 5 percent, down from 12 percent, while for affordable housing it has been brought down to just 1 percent from 8 percent. https://www.instagram.com/p/By6ZkjDJNfk/?igshid=hhqzjxz7m3xt

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GDA to start razing illegal buildings in Ghaziabad from June 17 Ghaziabad: The Ghaziabad Development Authority will start an anti-encroachment drive from Monday. In the tentative list prepared so far by the GDA, the areas where the drive will take place will include the flood plains in Loni, Balaji Enclave, Hindon flood plains, Akash Nagar etc. “Demolition can also take place in and around Arthala lake where there are over 500 illegal structures constructed on encroached lake land,” said a GDA official. According to a survey, there are 321 illegal colonies in Ghaziabad https://www.instagram.com/p/BytwiMtpvKM/?igshid=fgfshycxr8bi

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Ghaziabad: An end-user-driven housing market in the NCR With improving infrastructure and connectivity, Ghaziabad’s housing market has become a hub for end-users, owing to its varied offerings and competitive pricing, as compared to its nearby hubs like Greater Noida West From being a densely-packed suburban city in the National Capital Region (NCR), Ghaziabad has come a long way, aided by infrastructure development and improving connectivity. Besides the metro rail network, the Eastern Peripheral Expressway connects it radially with the other highways in the north and south of the national capital. This micro-market, hence, has become a hub for end-users in the residential real estate space. Properties on offer in Ghaziabad What makes Ghaziabad a favourable destination for real estate investment, is the variety of options that it offers. From affordable housing to luxurious abodes, this part of the NCR caters to multiple earning classes. While Raj Nagar Extension is a hub of affordable housing units, Indirapuram has options in the mid-range. For luxury housing, Vaishali is comparable to Noida Expressway, with both regions having properties at similar price points, while Siddharth Vihar is the new and upcoming area in Ghaziabad, which even has an ‘automated smart home’ project. “Vaishali is one of the well-planned areas of Ghaziabad and has, therefore, become a prominent destination for luxury housing. Most of the buyers here are government employees and self-employed professionals from east Delhi, who are upgrading to bigger apartments that have better amenities. People from the interiors of Ghaziabad are also investing here, to live closer to Delhi. There is also good demand from IT companies and hospitals, for leasing,” explains Gautam Thapar, CEO of Thapar Builders. Returns on investment in Ghaziabad real estate According to data from Makaan.com, areas such as Ahimsa Khand 1, DLF Ankur Vihar and Indirapuram, have witnessed a decent hike in property prices over the past few years. Nevertheless, it may also be a good time to invest in other areas, such as Crossing Republik, Vaishali Sector 1, Vaibhav Khand, or Govind Puram, as prices here are affordable. (at Ghaziabad, India) https://www.instagram.com/p/ByjbMkqpoCu/?igshid=bghqdnd96p4i

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Rs 49 cr flyover connecting Vasundhara to Mohan Nagar opens Ghaziabad: Union minister of state for road transport and highways  V K Singh inaugurated the  Vasundhara  flyover on Thursday. Built at a cost of Rs 49.1 crore, the six-lane  flyover  is expected to ease congestions at Vasundhara crossing by providing unhindered traffic movement from Mohan Nagar to Vasundhara and vice versa. Previously, it was expected to be opened for public in March but due to pending works related to the central verge, the project was delayed by around two months. Earlier, commuters had to wait for over 10 minutes to cross the Vasundhara Crossing, but now with the 586-metre-long flyover, which starts from Sahibabad village and ends on the other side near a foot over-bridge, traffic snarls are expected to be reduced in the area. Moreover, it will facilitate better traffic movement between Mohan Nagar and Sahibabad vegetable wholesale market. It is also expected to reduce the traffic congestion on Link road. (at Vasundhara Ghaziabad वसुंधरा गाजियाबाद) https://www.instagram.com/p/ByZDorfJsMZ/?igshid=4lfloue4j4lp

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UAE's permanent residency scheme to boost real estate in country: experts The UAE's recently-launched permanent residency scheme could be a game changer and provide a fillip to the real estate market by encouraging expatriates to invest in property and settle in the Gulf nation, industry experts said. The United Arab Emirates last week launched a permanent residency scheme to woo wealthy individuals and exceptional talents, a move that could attract more Indian professionals and businessmen to the country. The "Gold Card" programme unveiled by UAE Prime Minister Sheikh Mohammed bin Rashid Al-Maktoum is open to investors and "exceptional talents" such as doctors, engineers, scientists, students and artists. Sameer Barakat, Executive Director at Provis, a real estate and property management company in UAE, said the permanent residency scheme is a significant step towards realizing the economic diversification and sustainable development goals of the country. (at Dubai, UAE) https://www.instagram.com/p/ByWaoh2pTHs/?igshid=86frpju7ebod

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Gaurs Group: Real Estate major reports gross sales revenue of over Rs 4,000 Crores in FY 2018-19 Gaurs Group: Real Estate major reports gross sales revenue of over Rs 4,000 Crores in FY 2018-19 Biggest ever sale in the realty sector of the region. Gaurs Group, one of the major real estate developers in the country, has posted the biggest ever sale in the realty sector of the region by selling more than 10,000 units for gross revenue of around Rs 4,000 Crores in FY 2018 -19. A leading name in Indian realty since 24 years, Gaurs Group has recorded a gross sale of 10,205 units across its 31 projects in last financial year. The major chunk of sales has come from both, residential and commercial segment, which includes the Integrated Township project – Gaur City at Greater Noida West; Gaurs Siddhartham at Siddharth Vihar; Gaur Yamuna City and Gaur City Centre (Commercial) at Greater Noida West. Out of the total 10,205 units sold, approx 7500 are residential units which include apartments, villas and plots while the balance were commercial offerings consisting of shops, office, SCOs, etc. The total value of properties sold was close to a humongous figure of INR 3,989 crores of gross revenue during the financial year. For complete article visit www.agarwalproperties.co.in (at Ghaziabad, India) https://www.instagram.com/p/ByT4-Z4J1OB/?igshid=1cu89b8weqawc

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Ghaziabad: Shipra Sun Tower residents demands justice The Sun Tower RWA held a press conference on Saturday, just days after Allahabad high court asked GDA not to issue any completion certificate to the SAYA Gold Avenue project opposite Shipra Mall. NEW DELHI: Residents of Shipra Sun Tower, situated in Ghaziabad, are demanding justice against the alleged wrong doing by Shipra Builders, Saya Builders and Ghaziabad Development Authority (GDA). The Sun Tower RWA held a press conference on Saturday, just days after Allahabad high court asked GDA not to issue any completion certificate to the SAYA Gold Avenue project opposite Shipra Mall. In a writ petition filed by Sun Tower RWA, they alleged violation of FAR & construction on green park area as marked in project plan of 2005. According to Lakhmi Chand, general secretary, Sun Tower RWA, "Shipra builders have marked open green area between the G+12 tower in its inital plan in 2005. This plan though part of builder-buyer agreement was not sanctioned by GDA. The builder then changed the plan and sold its FAR to Saya Builder which went on to construct SAYA Gold Avenue project on it." "Saya Builder covered entire land & built eight towers (three basement+ 37 storey), which completely took away the open green area and permanently blocked the sunlight and air flow besides affecting the view," he further added. This according to RWA's petition in the high court was carried out without seeking the mandatory consent of the association. Initially when the RWA reached Allahabad HC, it rejected their appeal, against which they reached the Supreme Court. The SC remanded the matter back to the Allahabad High Court which then appointed a three-member commission in Nov 2017. According to the RWA, the commission filed its reports and confirmed the condition of the open green area and the source of FAR to convert two 12 storied buildings into eight 37 storied towers. It also mentioned that Shipra Builder has not delivered various facilities like swimming pool & club house etc of Suntower. The RWA members have also questioned the 2013 and 2015 sanctioning of additional FAR by GDA in the existing schemes which were declared and https://www.instagram.com/p/ByRNeP9Jxbz/?igshid=1swo2ulvrehmv

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Mumbai: All tenants finally pack up, move out of 156-year-old Esplanade Mansion While tenants, who have been living there since decades—some even before Independence—got emotional as they packed their belongings on Friday, Mhada officials were seen pasting notices outside each premise stating it has been sealed. MUMBAI: After much back and forth, the tenants who were refusing to move out of the dilapidated 156-year-old Esplanade Mansion, a UNESCO heritage structure at Kala Ghoda, were forced to pack up on Friday, a day after the Supreme Court’s extended deadline to vacate the premises ended.  While tenants, who have been living there since decades—some even before Independence—got emotional as they packed their belongings on Friday, Mhadaofficials were seen pasting notices outside each premise stating it has been sealed.  Nemchand Shah, who ran a stationary shop from the ground floor of the building, said: “My family has been operating this store for the last 62 years. With authorities now asking us to move out, I have no option but to move my shop to a rented space near Fort.” Mhada had sought police protection to vacate the 156-year-old cast-iron structure after an IIT panel recently recommended that the building be razed, stating that repairs would be dangerous as “many structural elements of the building are not rigidly connected to each other”. When asked about the fate of the building, Milind Mhaiskar, vice-president and CEO of Mhada, said: “The Bombay high court had asked for the IIT report, which has been submitted to it. Now, the building’s future depends on the final high court order.”  Officials said the building has 193 tenanted units, which include law offices, other commercial enterprises and residences. A famous unit is the Army Restaurant, which, along with other shops, was served notices by BMC in March asking them to stop carrying out business as they were putting lives at risk. (at Mumbai, Maharastra) https://www.instagram.com/p/ByMLhBaJB7d/?igshid=w16uzc773r85

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GHAZIABAD: The district administration of Ghaziabad and the municipal corporation bulldozed alleged illegally-constructed houses near Arthala lake on Wednesday, officials said. Nine fully-constructed and six semi-constructed buildings, and boundary walls of four plots were demolished in the joint operation at Balaji Vihar colony. These houses, which were constructed on government land, were illegally sold to buyers, District Magistrate Ritu Maheshwari said.  The demolition was carried out in compliance with a National Green Tribunalorder, Maheshwari said.  The demolition drive will continue on Thursday too. An FIR has been lodged against the property dealers for selling LMC (land management committee) plots of the Ghaziabad municipal corporation, the official said.  The administration will try to rehabilitate the poor residents, she said.  Two days ago, the women of the colony had protested against the administration by shouting slogans while standing in knee-deep water of the lake. https://www.instagram.com/p/ByJo8wppdjd/?igshid=1n8fxz2k7ztt

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Regular sealing drive from next week: Gurugram civic body Municipal Corporation of Gurugram (MCG) will carry out a regular sealing drive over the next week as part of its toughened stance on ongoing constructions in the city.  This comes days after a building in Old Gurugram collapsed due to an illegal basement. An MCG official said, “Despite our efforts, illegal constructions are coming up in the city at a rapid pace. Hence, the corporation has decided to carry out a regular drive to curb this menace.”  The drive was launched on Friday and till now, the corporation has sealed 40 illegal structures in various parts of Gurugram. The details of the drive on Saturday weren’t updated till late evening when this report was filed. According to sources within the corporation, more than 90% buildings in the city don’t have occupation certificates.  While MCG has issued 20,000 occupation certificates (OCs) to building owners till now, there are at least 1.2 lakh structures within the municipal limits which don’t have OCs. The maximum number of illegal constructions, accoridng to officials, are present in the older parts of the city, inclduing Laxmi Nagar, Shivaji Park, Hari Nagar, Sanjay Gram, Krishna Colony, Jyoti Park, Rajendra Colony, Sirhaul and others. The situation is worse in the 900-metre zone around the ammunition depot where, despite orders from the Punjab and Haryana high court, illegal constructions are still cropping up. However, if officials are to be believed, the corporation has been strict in taking action against illegal buildings.  Between April 2018 and February 2019, MCG had carried out 156 sealing drives and 141 demolitions and issued 846 notices against encroachments.  Additionally, 389 demolition orders were passed during this time, besides removal of 2,489 temporary structures. Earlier, MCG commissioner Yashpal Yadav had said that encroachers would not only face demolition but also be charged for expenses incurred during the demolition drive.  He had added that if the offender denied paying charges, he or she would be billed, along with property taxes. (at Gurgaon, Haryana) https://www.instagram.com/p/ByJne_zJnTH/?igshid=18snlju8f7jhm

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Noida project first to be deregistered by UP-Rera While Rera benches have taken several steps against defaulting builders across the country, this is perhaps the first time that a housing project has been deregistered in India. NOIDA: Unnati Fortune’s Aranya, located in Noida’s Sector 119, has become the first housing project to be de-registered by the Uttar Pradesh Real Estate Regulatory Authority (UP-Rera), a move that is likely to affect some 2,000 buyers who have been waiting for a period ranging between three and five years for their homes. While Rera benches have taken several steps against defaulting builders across the country, this is perhaps the first time that a housing project has been de-registered in India. UP-Rera officials said this was the first such move under the new real estate law. (at Noida) https://www.instagram.com/p/Bx_IzQBppUE/?igshid=1wklt3zigsl84

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Ghaziabad development body to launch app for complaints, registries “The GDA app will have several features for consumers,” said Amardeep Singh, assistant engineer at the development agency.  Real Estate News Latest Real Estate News Technology Ghaziabad development body to launch app for complaints, registries “The GDA app will have several features for consumers,” said Amardeep Singh, assistant engineer at the development agency.Abhijay Jha |  TNN |  February 20, 2019, 13:00 IST VIEW IN APP GHAZIABAD: The Ghaziabad Development Authority (GDA) will launch on Wednesday a mobile app service that will allow consumers to register complaints and keep track of the work without having to visit the development agency’s office. Work related to mutation and registration of property can also be carried out through this app. “The GDA app will have several features for consumers,” said Amardeep Singh, assistant engineer at the development agency. “This app will serve as a single window system for registering complaints and will be linked to the Janhit portal, which will enable officials and engineers to monitor the progress of work,” he added. Apart from lodging complaints, consumers can also use this app for registration of properties, mutation and other property work. Explaining how the app will work, Singh said: “Say a consumer wants to lodge a complaint about a non-functional street light. All he has to do is click a picture of the street light, upload it and tag it under the relevant complaint section displayed in the app. The complaint will be sent to the department concerned and measures will be initiated.” As of now, the app will only be available for android users. “GDA is in talks with Apple and plans to launch this app on iOS,” said Singh. https://www.instagram.com/p/Bx8nx8mpo0F/?igshid=pjs2kxf3lw8g

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Should you invest in commercial or residential properties? Office properties can yield good rental returns over prolonged periods. Residential properties are mostly bought for self-use. However, one can also generate income from residential property by leasing it out. NEW DELHI: Both commercial and residential properties have their pros and cons. Commercial properties are a little higher in cost as compared to residential properties but they yield higher rental returns. On the other hand, residential properties are bought primarily for end-use as well as long-term investment. So, should one buy a residential property or a commercial one? “Commercial real estate has been gradually growing in terms of demand with supply just about keeping up; so price points have steadily moved upwards. Presently, growth in capital and rental values of commercial real estate is on a growth curve. Residential real estate has remained largely stagnant since the past few years – caused by the impact of regulatory changes,” says Niranjan Hiranandani, national president, NAREDCO. Returns on Investment (ROI) Residential properties are mostly bought for self-use. However, one can also generate income from residential property by leasing it out. Price appreciation of residential properties over a period of time is another factor that attracts investors. Properties which can create steady income are typically office spaces, warehouses, retail, industrial and institutional real estate. Regular rent is a key factor that makes investors buy commercial property and price appreciation also remains high. “Commercial properties are good investment opportunities to earn regular income as they offer high rental rates compared to residential properties. While residential properties, during an economic downturn, are much better than commercial properties, said Ravindra Pai, managing director, Century Real Estate. However, rental income and price appreciation depends on many factors such as current market trends, location, social and physical infrastructure. These are deciding factors for both commercial and residential property to appreciate. (at Ghaziabad, India) https://www.instagram.com/p/Bx6HC0epu8s/?igshid=1cr8ns31smmjr

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Griha Pravesh Muhurat 2019: Best dates for a house warming ceremony A Griha Pravesh ceremony is believed to bring in positivity and good fortune, for the people who live in the house. Here’s your Shubh Muhurat guide so that you can plan in advance, for a perfect Griha Pravesh in 2019 A ‘Griha Pravesh’ or a house warming ceremony is a one-time ritual that is performed, when one enters a new home for the first time, for living in it. Experts recommend that the entire Griha Pravesh ceremony should be performed smoothly, as this ceremony marks the beginning of one’s residence in the property. Hence, it is especially important to ensure that there is no mistake, while deciding the Griha Pravesh date and the timing for entering the home and timing of the puja. 1. Griha Pravesh Shubh Muhurat dates in 2019 Narendra Jain, expert at Arihant Vastu, explains that the “Griha Pravesh dates are calculated, according to the Panchang. By consulting an expert, you can get the ‘shubh’ (auspicious) dates that also comply with the Vastu of your new home. The most suitable dates for Griha Pravesh in 2019 are: Griha Pravesh dates in January 2019 (Magha) There are no auspicious dates for a Griha Pravesh during this month. Griha Pravesh dates in February 2019 (Faghun) February 9 February 10 (Basant Panchami) February 14 February 15 February 21 February 23 February 25 Griha Pravesh dates in March 2019 (Chaitra) March 2 March 7 March 8 March 9 March 13 March 21 March 22 March 25 March 29 March 30 Griha Pravesh dates in April 2019 (Baisakha) April 6 (Gudi Padwa) April 19 Griha Pravesh dates in May 2019 (Baisakha/Jyestha) May 2 May 6 May 7 (Akshaya Tritiya – consult an expert) May 16 May 18 May 23 May 29 May 30 Griha Pravesh dates in June 2019 (Jyestha/Ashadh) June 3 June 10 June 13 June 19 June 20 Griha Pravesh dates from Mid-June to October 2019 (Ashadh, Sharavan, Bhadrapad, Ashwin) There are no auspicious dates during this period. Griha Pravesh during these months brings in negative energy and can result in financial losses and health problems (at Ghaziabad, India) https://www.instagram.com/p/Bx06rPAp8hK/?igshid=qiydzg0b1i3j