With a large number of offices and ITeS segment growth apart from residential growth coming from small tier II and tier III centres, the development of smart cities can bring opportunities for real estate developers, investors, end users and well as the housing loan sector.
On expected lines, the real estate sector and the infrastructure sector were the focus sectors of the government in the annual union budget of 2014-15. The finance minister announced a series of measures to bring investment into the sector while giving special emphasis on affordable housing. The announcement that Rs 8000 crore will be earmarked for rural housing along with a series of dedicated proposals augers well to the future of the realty sector in the country. Market analysts and real estate experts have given the budget a big thumbs-up as is focuses evenly on housing and development with both domestic and foreign investments in the sector.
Smart City Development: Among the many big announcements in today’s annual budget, the finance minister has announced an allocation of Rs 7,060 crores for development of 100 new smart cities in the country. The move is likely to add a positive sentiment to the real estate segment in all these cities and neighbouring towns. With a large number of offices and ITeS segment growth apart from residential growth coming from small tier II and tier III centres, the development of smart cities can bring opportunities for real estate developers, investors, end users and well as the housing loan sector.
Easing of FDI: As a measure to enhance affordable housing the finance minister announced relaxation of FDI norms in the real estate sector. Industry experts are of the opinion that easing of FDI is likely to bring in opportunities for cheaper capital for smaller projects. The finance minister has announced a reduction in the size of projects eligible for FDI from 50,000 sq meters to 20,000 square meters and reducing the minimum investment limit for FDI to $5 million from the existing $10 million.
Emphasis on Affordable Housing: The government’s policy is easing of FDI norms are being seen as one big beneficiary move to bring affordable housing back on track. With expert reports suggesting a shortage of around 18.78 million houses in the country, the finance minister has allocated Rs 4,000 crore for low-cost housing alone apart from Rs 50,000 crore for urban housing. With Slum development being made a part of CSR activities, the government seems to have its heart in the right place.
Introduction of REIT- a Positive Sign: The introduction of real estate investment trusts (REITS) is applauded as a welcome move as it is likely to increase liquidity in the cash strapped sector. The Securities and Exchange Board of India has already issued guidelines for REITs and now with taxation structure getting clear in the annual budget, real estate sector is going to become a direct beneficiary of such trusts.
Increase in deduction limit on interest payment for housing loans: As part of its tax management and tax structuring, the finance ministry has increasing the home loan rebate on self-occupied property from Rs 1,50,000 to Rs 2,00,000. Income tax deduction limits under 80C on repayment of principal amount on housing loan has also been increased from Rs 1 Lakhs to Rs 1.5 Lakhs which is likely to make more people walk down the housing loan route in the coming year. This is a good news for banks too!
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Noida has emerged as a major destination for home buyers over the last few years. Noida and Greater Noida, along with Yamuna Expressway and Noida Extension, provide affordable alternatives to middle class buyers in the national capital region. Average home prices in these regions are significantly lower than in Gurgaon, which is associated with high-end apartments.
Here are 5 tips as you go house-hunting in Noida::
- Plot versus apartment: You can buy a plot for the price of an apartment along the Yamuna Expressway, which connects Greater Noida with Agra. The world class expressway provides easy access from Delhi. However, don’t expect immediate capital appreciation because there is an oversupply of plots in this area. Plots near the F1 track or in the integrated townships coming along the expressway are better options.
- Choosing a developer: Projects being developed by an unknown builder, or a first time builder, are prone to execution delays. They will be comparatively cheap, but may remain grounded forever. Samir Jasuja, chief executive officer of PropEquity says buyers should always pay a little premium but go with a reputed or branded developer who will ensure the execution of the project even though it may still get delayed.
- Project specification: Small may not always be beautiful. As buildings go taller, large open spaces become a necessity. Look for a project that is adjoining a public park, or has bigger common areas. There will be a small premium between a 25-acre and a 50-acre project to start with, but with time projects with better amenities command a bigger premium.
- Absorption: Some areas like the Yamuna Expressway and Noida Extension have large inventories and absorption could continue to slow down. Homes in areas with low absorption rate are less costly, but are suitable only for long term investors, who have a time frame of at least 5-10 years. You should invest in such properties only if you are an end user with no plans to dispose the property.
Geographical factors: Noida and Great Noida have high water table unlike Gurgaon where ground water is not available. Noida has better accessibility to Delhi as compared to Gurgaon, which relies only on the Jaipur Highway. However, both Noida and Gurgaon fall in seismic zone 4, where the risk of earthquakes is pretty high.
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Migsun Ultimo at Greater Noida, Hot Choice For The Buyer Looking Low Budget Apartments With High Class Facilities.
Before briefing up of Migsun Ultimo i would love to brief something for the builder Mahaluxmi Group.House is a dream for every individual. In a vibrant and compact world a space is what every individual craves for.Mahaluxmi Group turn this dream into reality. Mahaluxmi Group translate the thought of an individual into space of his choice. Mahaluxmi Group create this space with trust, relationships and commitment. They very well understand that four walls do not make home so they transform spaces into homes. They have made the individuals live their dream and most humbly and gracefully continue to do so.
Migsun Ultimo new project of Mahaluxmi Group, is now how choice for the buyers who are looking apartments with high class facilities in low budget. Mahaluxmi group well known by a leading key player in the real estate sector,Mahaluxmi group giving great contribution in Indian realty sector.Now after great appreciation of its earlier project mahaluxmi green mansions and mahaluxmi homz, this group come up with its news project full of utmost style, comfort along with quality MIGSUN Ultimo.
Migsun Ultimo price starts from Rs. 2150/- Per Sq ft, which is again a surprise by the builder as offering style, comfort and security in a very reasonable price.Migsun Ultimo is a group housing project by Mahaluxmi Group comprises in 6.5 Acre of area,with 3 side open Plots, 100 m Green Belt along 130 m road. with 3-tier Security systems & 24 Hrs Power & Water Supply. Low cost price and high class facilities is the prime reason for the buyers for investing there money in Migsun Ultimo Project.Free parking for for first 100 booking in Migsun Ultimo Project is a great offer by the builder to attract buyers.
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The YAMUNA EXPRESSWAY offers large land parcels, as expected it is acting as a magnet for real estate development projects. With land availability in Noida becoming limited, this stretch acting as the next node for large-scale developments such as integrated townships and logistics and warehousing hubs.
The expressway, which took around 47 months and Rs 13,300 crores to build, is 165 km long, runs from Greater Noida to Agra, crossing Aligarh and Mathura with several new real estate projects.
Construction is on full swing of various projects running along this expressway. The population near to Delhi / NCR enjoying free visit to view various township & residential projects, while the population far away from this location monitoring day to day progress on Google. Now a day’s high traffic keywords on Google are “Hot projects on Yamuna Expressway”, “Real Estate Projects near Yamuna Expressway”, “Yamuna Expressway Project” etc.
Now the price of these projects are decided with the factor “How far is the project from Yamuna Expressway”. Greater Noida is a major attractor of real estate investments in the state, encouraging Government and authorities to provide better amenities in this region. As a result UP CHIEF MINISTER CLEARED TWO MAJOR ROUTES OF METRO first is Noida City Center to Greater Noida, & second is Noida City Center to Sector -62.
The proposed Delhi Mumbai Industrial Corridor expected to pass through Dadri will also boost development of warehousing and Special Development Zones along both sides of the Expressway.
Greater Noida keeping pace in terms of infrastructural developments, this region is expected to see well-rounded development on all fronts. An area with low prices and upcoming projects also at low price-points, enough scope for future developments and investment in infrastructure projects to create a well-developed hub equals a good investment option.
Residential apartment prices have remained largely stagnant since the Expressway completion, with projects further down this stretch launched at lower prices as well.
The appreciation is likely to show an upward trend here, though the other established residential corridors in NCR may cause such appreciation to be lower and slower going forward. For end-users, low price points with projects by major developers present an equally viable opportunity.
Keeping this entire factor in mind and after the successful completion of MAHALUXMI GREEN MANSION, Migsun group formerly known as Mahaluxmi, announced new soft launch residential project at Sector Omicron III. The project is composed in 6.5 acre of area and a PODIUM BASED PROJECT. This is hot project for the buyers who are looking a nicely designed apartment with all facilities of water, electricity and security with good social life.
Migsun offerings four sizes of apartment for the buyers,2 BHK FLAT (AREA 1005 SQ. FT), 2BHK PLUS STUDY (AREA 1140 SQ. FT), 3BHK PLUS 2 TOILET (AREA 1375 SQ. FT), 3BHK PLUS 3 TOILET + STUDY (AREA 1595 SQ. FT.). This is hot project for the buyers who are looking a nicely designed apartment with all facilities of water, electricity and security with good social life.
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Written By : Manish Kansal ( Investor Aura (P) Ltd.)
The national endowment believes that the impact on civic life is consequential.
NOIDA: The Delhi Metro Rail Corporation and the Noida and Greater Noida authorities signed an MoU on Saturday for two key Metro corridors in the twin cities. The two routes – Noida City Centre to Greater Noida and Noida City Centre to Sector 62 – will provide relief to thousand of commuters.
The MoU was signed between DMRC director of business development S D Sharma and Rama Raman, chairperson and CEO of Noida and Greater Noida Authorities in the presence of DMRC’s managing director, Mangu Singh, and other senior officials.
Laying the foundation for the commencement of the two proposed routes, two cheques worth Rs 29.45 crore were handed over to DMRC by Raman. The two routes are expected to cost a total of Rs 7,413 crores. While 6.675-km-long link from Noida City Centre to Sector 62 is estimated to cost Rs 1,880 crore, the 29.707-km-long Noida-Greater Noida corridor will cost Rs 5,533 crore.
“After Delhi, UP is where the largest Metro network is being put on track. As Noida and Greater Noida urbanize at an unprecedented pace, we want to improve the two cities’ transport systems,” said Raman.
Officials said that the cost of the Noida Metro line, as per the Detailed Project Report will be shared on an 80-20 basis between UP government and the Centre. The Noida-Greater Noida will be funded by the two authorities.
Noida Metro Rail Company (NMRC), which was recently granted approval by the state government, will be in charge of transportation, connectivity and movement of the 29.7-km track between Noida and Greater Noida.
The Greater Noida Metro track will have 22 stations, of which 13 will be at ground level, while seven stations will be elevated. Two stations at Knowledge Park-I and sector Delta-1 in Greater Noida are planned for future expansion.
“Since the stretch between Noida to Greater Noida is long, this route has been planned differently,” said Mangu Singh. “We plan to have fast trains along this corridor, which may not stop at all stations,” he said.
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