Recent Developments Related to Property in Ghaziabad

Ghaziabad Property at Makaan.com

The indiscriminating way in which realty constructions are going on in Ghaziabad has posed a threat to natural resources and has raised many a eyebrows. It is due to the haphazard residential and commercial constructions that the ground water table is depleting at a very high rate. To deal with the dreaded situation, National Green Tribunal has recently reinvoked an old order dated back to 2001. According to this order, the concretization is restricted to only a prescribed limit. More than 5% green covers cannot be concretized as per this order. Under construction of Ghaziabad properties shall have the footpaths made up of permeable or semi-permeable materials. Such a step has been taken to minimize the threat posed to environment.

Another major development that is in news these days is the construction of  a 21 km long link connecting Noida and Ghaziabad. This link shall improve the connectivity between two cities; the time taken for commutation shall be reduced to half an hour. Currently, the construction is going on in full swing here. The road has become a major hotpot for realty projects. The surrounding areas carry the potential of becoming the next alternative markets for property in Ghaziabad. The project is covered under Noida Master Plan 2021 and shall take another 8-9 months to get completed. The project is expected to raise the live-ability standards of Ghaziabad residents and is seemed as a crucial factor in scaling up the realty prices.

Yet another major development is regarding the regularization of Ghaziabad property transactions.  In light of high rate of frauds and scams, it has been rendered mandatory for the real estate agents to get themselves registered with a local body and get a license before starting their practice in city. Such a step would help in bringing down the cases of counterfeit acts and rendering transparency to the system.

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Price Variation of Property in Mumbai Across Andheri Dahisar and Navi Mumbai

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It was only after living in Mumbai that I realized how pricey it is, specially in terms of its real estate. The rates are exceptionally high along Andheri Dahisar Road and across southern region. To buy house in the city is a dream that remains unfulfilled for many. For buyers with only limited financial means have no choice, but to look for alternative options. Suburbs like Thane and Navi Mumbai are relatively affordable and are preferred by budget-minded buyers. Let's have a look how residential property in Mumbai fares in Andheri-Dahisar stretch and compare it to prices prevalent over Navi Mumbai localities. We shall take a 2 BHK for our consideration.

A two bedroom property in Mumbai in one of the prime localities, Goregaon, varies between 20 lakhs and 1.5 crore. The starting price for the same in Malad(W) stands at around 30 lakh. The price value is comparatively higher in Malad(E): a 2 BHK flat for sale here is available in 60 lakh-1 crore bracket. Localities like Andheri(W) and Borivali(E) carry much higher rates. To purchase a two- room house here, a buyer needs to pay at least 65-75 lakh. 4 Bunglows, Oshiwara, Marol too carry considerably high price tags. Buyers would find it difficult to find a 2 BHK below 1 crore across these locations.

Now, consider Navi Mumbai. The seekers of two-room Mumbai property have several affordable options. New Panvel, Karanjade, Airoli, Panvel, and Taloja are a few such examples. Across these, one can expect 2 BHKs below 20 lakh. In 20-30 lakh bracket, one can consider suburbs like Vashi, Kharghar, and  Kamothe. For higher price segment, the buyers can look for Mumbai properties in colonies with well-developed infrastructure and good connectivity. A few such areas are Nerul, Koparkhairane, Sanpada, and Belapur.

With prices across Andheri-Dahisar stretch are beyond the reach of majority of Mumbai population, a number of buyers have took to Navi Mumbai as an alternative market.

New Land Pool Policy to Create Alternative Markets for Delhi Property Hunters

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With the announcement of Land Pool Policy by DDA, property Delhi is going to witness a new chapter of realty development. Under the policy, DDA would be able to vacate 70,000 acre of land acquired from farmers and owners. The land shall be used for creating highly developed residential spaces. Under the plan, about 100 residential projects are expected to come into vogue, and this will, in turn, see the development of about 14 lakh residential units.

Areas like Ghitorni, Chattarpur, Najafgarh, Massodpur, Dwarka, Mehrauli shall see the execution of these projects. Peripheral areas of Rohini and Najafgarh have also come under the ambit of this policy. Most of these regions are largely uninhabitable currently with almost no or little commercialization having taken place. As the plan is brought into action, one will see the transformation of these areas, in the time to come. This would be a good boost for Delhi property market, which has become almost stagnant due to extortionate rates and low demand. With Pool Policy coming into action, a new Land Pooling Cell shall be brought into existence to oversee the execution of this mega project.

 The owners of real estate property in Delhi who shall agree to pool their land shall get 40-60% of the developed land in return. For owners of land above 20 hectares, out of the returned 60% developed land, 40% will have to be used for residential purposes. For the owners contributing to land less than 20 hectares, 43% out of the returned 48% shall have to be used as residential spaces. As the policy comes into action, the land rate in the earmarked villages shall increase substantially. DDA has identified 200 such villages.

The areas marked for development shall act as alternative markets for property Delhi, which is, otherwise, known for its colossal price rates.

Most Preferable Locations for Buying Ahmedabad Properties

Ahmedabad, tier1 city of India, has made a tremendous progress in terms of real state. The strong presence of infrastructure and good development potential are the primary reasons of the growth of its realty market. The development of integrated towns with cosmopolitan look have transformed the city, and today, its real estate stands at par with other metropolitans. For property-seekers, it offers a number of good options. Let's see what are these.

Motera: One of the most preferable choice for buyers of real estate in Ahmedabad is Motera. Fully developed, this locality is strategically located near Gandhinagar. Its connectivity to six-lane Visat-Gandhinagar Highway make it an important commercial hub too. Some of the high-end buildings are present in Motera. One of the the things that definitely goes in locality's favor is its congestion-sans roads. Nearness to Ahmedabad airport and presence of the prestigious Knowledge Corridor are some of the other reasons why it has gained preferably for real estate hunters. 

Bopal: One of the satellite towns, Bopal is another locality that has gained popularity among property buyers. Laced with good infrastructure, Bopal is connected by BRTS to Sun City. Since past few years, it has seen development of several properties in Ahmedabad. Presence of schools, banks, and a few high rise apartments make the locality a nice dwelling place.

S.G. Highway: This highway provides connectivity between Sarkhej and Chiloda, and has become a major transport commerce corridor in the city. The hitherto cheap land rates have increased appreciably. Ahmedabad's largest mega mall, ISCON, is present over this road.

Chandkheda: A prime residential locality, Chandkheda is a major suburban area of the city. Its presence of ONGC office is the reason why property hunters choose Chandkheda as their living place. 

A few other prominent residential areas of the city are Vastrapur, Vejalpur, Maninanagar, Thaltej, Prahlad Nagar, and Gota.

Properties in Ahmedabad: On the Road to Development

While 2013 remained a 'down in dumps' year for Ahmedabad real estate, New Year is like a whiff of fresh year for its buyers. The city is witnessing a number of  infrastructural developments across different localities. One such development that is under consideration is the construction of  Mumbai-Ahmedabad high speed corridor. A route of 535 km and a journey of two hours shall be covered by means of  bullet trains, running at 320km/h. Such a project, when comes into picture, shall lessen the distances  between two states considerably.  But this is not the only major development that the city shall be seeing in near future. There are more in pipeline.

Another important development that is going to benefit the occupants of residential properties at Ahmedabad is establishment of basic civic amenities in newly developed towns. Such a step shall play a vital role in integrated town developments in the city. Lately, localities like Bopal, Narol, Sanand and Vejalpur have emerged as the colonies with high rate of residential development. Unlike previous times, the introduction of civic amenities shall be a great relief to the occupants.

Yet another development that is on cards is the establishment of 12 multilevel parking complexes. This step taken by Ahmedabad Municipal Corporation (AMC) is going to solve parking issues that arise due to lack of space. This multilevel parking is Ahmedabad properties shall include introduction of health and sports clubs under  flyovers, thus making good use of the available space.  The BRTS network shall be covered under Wi-Fi system, allowing people to remain connected all the time. AMC has also announced halving of the tax on rented properties. The authority has exempted different types of hospital taxes. This shall come as a big relief to tenants who had to spend on paying these taxes.

Major Developments that Chandigarh properties Have Been Witnessing in New Year

Chandigarh property at Makaan.com

Last year brought a dull phase in Indian property market. And in a city like Chandigarh, the sales were all-time low. The dollar became mightier against rupee, and Indian economy went down in dumps. Inflation, further ruined the spite of an average Indian buyer. The segment that gained from all this was that of NRIs. The increase in value of dollar was seen by them as a windfall and the number of inquiries increased in the city. Most of these inquiries are for locations like Mohali, Zirakpur, and other parts of Punjab. This indicates that Chandigarh real estate is gaining strength slowly and gradually.

Properties in Chandigarh are witnessing several NRI inquiries from different parts of the world like UK, Singapore, and US. And what they have been looking in properties to invest are top-notch amenities, comfortable spaces, and stylish decors. They either want to invest on these properties or want to put them on lease. Whichever be the case, the realty market in Chandigarh, or say, whole of Punjab has started staking an upswing.

Another major development that has added a feather to the cap of  Chandigarh property is the foraying of Lalit brand into the city; the business group has ventured into the market by opening a 5 star-hotel in Rajiv Gandhi IT park. This is expected to render city's real estate a real competitive edge over other cites. Till now, on an average, the occupancy rate in 5 star hotel has been only half, restricted to 50-60%. With Lalit hotel coming into picture, the completion has become more stiff for other hotels. The mismatched demand and supply ratio has already been an issue of big concern for these hotels.

A development that has deemed to have positive effect on realty market is the cutting rates of property tax by Punjab government. This step has been taken to rejuvenate the interest of buyers in purchase. By slashing the rate from 7.5% to only 3% is expected to bring back buyers to the market.