Owners of residential property in Noida urge UP’s new CM to revoke diluted RERA rules

Home buyers have appealed to Yogi Adityanath, the fresh appointed chief minister of Uttar Pradesh, to revoke the diluted land regulative Act (RERA) rules notified by the erstwhile government of the state and notify fresh rules in lines with the rules set by the Centre.

While home buyer's body Noida Extension Flat homeowners Welfare Association (Nefowa) has already written a letter to the UP chief minister these days, with RERA being one of their major demands, another association Fight for RERA had tweeted to the CM on 19^th March with its demands and is additionally writing a letter to apprise him of things, that it intends to dispatched during this month. If this happens then, it would provide a major boost to the Property in Noida.

The president of Nefowa stated that the RERA rules in UP ought to be notified with none dilution and therefore the real estate authority ought to be established in a very clear and timely manner.

Massive mandate for BJP in Uttar Pradesh has raised hopes and expectations of the homebuyers across the nation. Revoking the principles won't solely boost the feelings of homebuyers across the country, however, also will boost the belief of voters on Prime Minsiter generally and your Government specially.

Nefowa in its letter has additionally demanded audit of the Noida and bigger Noida Authorities by the (CAG) and investigation of the corrupt officers by the Central Bureau of Investigation (CBI). The authority has further asked the UP CM to get rid of the entire senior and junior officers of Noida and Greater Noida Authorities as they have worked for the builders in noida more than home buyers.

The association has additionally urged Adityanath to instruct the builders to expedite project in noida construction, strictly follow the UP Apartment Act and provides compensation for delay to the buyers. The Real Estate (Regulation & Development) Act, 2016 was notified by the ministry of housing & urban poverty alleviation (HUPA) on May 1 last year for the six Union Territories while not assembly. The HUPA rules additionally can act because of the model rules for different states.

While Uttar Pradesh was the primary among the states to notify this rules, it diluted the Act taking many in progresses projects comes out of regulative body’s purview additionally as decreasing the penalty for offences.

Prime minister Narendra Modi recently had raised the difficulty of the many homebuyers in NCR being duped by the builder lobby United Nations agency don't deliver the flats on time at his Ghaziabad rally for UP elections. The new elected CM of UP from his party has the responsibility to keep the faith of the home buyers in the state. Hope this will provide some respite to the individuals who plan to buy flats in Noida.

Choose the best luxury flat in Pune

A great ultra-luxury home should offer residents a high standard of living and unmatched convenience.

Buyers looking for property in the ultra-luxury space are often those who are well travelled and wealthy; exposed to the top standards in luxury living across the globe. Naturally, they would be more discerning .With regards to that, the main factor, probably, would be location. Quiet and peaceful areas with excellent connectivity to both the central business district ( CBD) and social infrastructure are essential.

Some of the common factors that should be considered are-

Scenic location

The location of the property plays a natural part in the articulation of luxury and exclusivity. Flats facing vast green spots; facing a golf course or a mountain or positioned in silent spaces away from the metropolis have a great degree of desirability. Since it's a huge investment, it is merely sensible that one will do a thorough research on the luxury property in Pune, first before taking the plunge. The idea of having a luxury home revolves around having privacy and a quiet vicinity. There is absolutely no point in investing in a huge pent house in an area that is congested, loud and with a lot of traffic. Only a well linked yet peaceful location with all basic infrastructures available is worth the offer.

Look into the amenities

A smart and scientific design, contemporary technology, world-class amenities are some of the factors to look into. Found in such projects amenities like a swimming pool, covered car parking, good facilities, which go with the lifestyle and routine for affluent people.

Further, you need to push the boundaries of aesthetics and design. The properties need to look impressive, both externally and inside. The design needs to be unique so that they are relaxing and great looking.

The quality of building fixtures and fittings play a vital role.

An additional factor that must be taken into account is the aesthetics and design.  Space, the layout of the apartment, privacy, individual room for domestic helps, private lifts, high level of home automation, and vaastu-compliance are aspects that find favour with critical buyers. The building's facade and exterior design, and landscaping, should include easy and safe access and movement for the handicapped and children. Satisfactory car parking facility for own vehicles and those of friends are important aspects for consideration. Further, features such as sky decks, infinity swimming pools, rooftop or sky home gardens and decks enhance the desirability.

Amenities must be in a way that should fulfil the health, wellness and lifestyle needs of the residents. One should also look for top-of-the-line amenities as well as high-tech security both within the building and at a project level. Also to meet the daily comfort of the homeowners, professional facility managers should be there to ensure that the buildings and amenities are kept in top condition at all times, and security services of proven repute.

So, if you are planning to buy luxury property in Pune. These points will make will make your decision making process less painful.

Residential projects in Gurgaon: Where from here?

The Real estate property in Gurgoan forecasting in India is a difficult proposition at the best of times, but never more so than post demonetization. We could confront with numerous unknown factors. For Gurgaon, this is compounded by the state of the market pre-November 8, 2016.

2016 has not recently been the best of years for the Residential projects in gurgaon. Revenue volumes plummeted further to practically half the two absorption numbers. New unit launches were limited, approximated at one-third the 2015 figure. While quoted prices remained stable, good discount rates and incentives were available during private negotiations with developers. Once again, investors who had fuelled demand throughout the boom stayed away from residential markets. Principal buyers of the  residential real estate were end users, who preferred to set up or near ready-to-move-in flats.

Table of content The Slow and Steady- Real Estate in Noida Real Estate in Pune – The Golden Goose Buy residential property in gurgaon

This is probably the best time to buy property in Gurgaon. Buyers today are well-informed and give greater credit to both brand and quality. They are skeptical of talks of future infrastructure upgrades or other such promises.

Post-demonetisation, Gurgaon, like the rest of the country, is grappling to formulate new guidelines of. Exactly how factor in the black component of the price now? Is the new price arrived at by simply subtracting black money or will black money be back accepted in the form of the new pink currency? Buyers believe that prices will fall by 20-30% and are thus be ready for the marketplaces to crash. Sellers, on the other hand, are resisting dropping prices, depending on banks to lower home loan rates and on the government to deliver a populist budget -- the one which will reduce income tax rates and improve the tax-free slab. Marketplaces are in the stage of price discovery, leading to a complete standstill.

This really is not merely due to demonetisation but also attributed to real estate (Regulation & Development) Act, expected to be implemented by Haryana by April 30, 2017. Gurgaon builders will follow a global trend of new regulations, inevitably leading to developers holding off releases to see how government bodies enforce new rules.

However, the government must deliver all promised infrastructure. To avoid generation of black money, the government needs to align circle rates with market rates -- the gap in Gurgaon is among the highest in the metros. Stamp duty should also be reduced. Consumers will reward a good and cost-effective product delivered on time. Invoice and demonetization should collectively make realty more attractive in the long run.

The journey of real estate so far has been stiff , however as the things are coming back to normal post demonetization we can hope for some good slice of news.

A big jolt to 5-storeyed residential property in Noida

Noida Authority on Thursday has said that it will crush an unapproved assembling, which houses five stories, in sector 80 of the city. The Authority has issued a notice to the designer developing working in the region bordering Nangla Charandas town, situated in stage II of Noida. The designer has been requested to evacuate the unapproved development inside seven days fizzling which the building will be destroyed to the ground by the Authority. This is obviously not a pleasant news for the, realestate in Noida.

Specialist authorities said that the building has been developed on Noida's notified land. "Nobody other than Noida Authority can give consent for the development on this land and no authorization has been conceded by us to the building based on Khasra numbers 115 and 128," B.K Singh, extend design, Work Circle-7, Noida Authority, who drove the group for fixing the premises confirmed that the authority have been sending notification to the manufacturer since July 2015 to stop all development, yet the engineer has not paid any notice.

Singh additionally said that the engineer, M/s Nimi Homes Private Limited has been served notice for undertaking the unlawful development. "We have requested that they stop all developments with prompt impact and evacuate the structure they have built till now," Singh said. Further, the authority announced that the builders in noida have been given a seven day take note. On the off chance that they neglect to evacuate the illicit development, our groups will move in, wreck the structure, bulldoze it to the ground and furthermore charge an expense for expelling it.

Authorities additionally said that the developer had built five stories, which included 106 private pads and around 26 shops on the ground floor. "100 pads were empty, while six units were involved. We have solicited the tenants from the six units to empty the premises instantly. As of now, the completing is being done of the building," said Singh. On being tested about the destiny of the homebuyers of the six units, Singh said that we have requested that they look for legal respite.

There are several properties in Noida which are constructed with 5 or more stories and with this recent development the real estate industry with surely have an adverse effect. But if the authority has taken a step, it will probably regularize the industry as a whole.