Hyderabadis give priority to ready-to-move-in units!

According to a recent survey titled "Consumer Sentence Survey Hyderabad 2019", about 75 percent of respondents voted for ready-to-move-in properties as the most preferred property type.

With major consolidation in the Indian residential market, developers these days are focusing on completing their previously launched projects rather than launching new ones on a large scale. Thus, healthy ready-to-move-in supply is being seen in metro cities. While this is the case in cities, Hyderabad, interestingly, has seen a significant increase in the number of ready-to-move units for units under construction and newly launched projects in 2020.

According to research by SuGanta Realty Services llp, more than 240 projects with approximately 43,943 units are expected to be ready for occupation in 2020. These projects have been started from the year 2015.

In addition, about 44 percent of the total units commissioned since 2015 have already been completed, while 27 percent are to be completed within 2019. The remaining 29 percent will be ready for occupation 2020 onwards.

Top Micro Markets

Now, if you are planning to hit the Hyderabad realty market, we present for you the top five micro markets that will see maximum ready-to-move-in supply by the end of 2020:-

Gachibowli

Gachibowli, the city's financial capital, has grown by leaps and bounds over the years. The presence of several financial institutions and proximity to IT / ITES companies has made Gachibowli a popular residential destination. In addition, with well-planned layouts, the area boasts of decent social and physical infrastructure.

Patancheru

The way Patancheru has transformed in the last few years, from an industrial area to an upcoming residential hotspot, is nothing short of remarkable. The availability of land at affordable rates coupled with good connectivity to the city's IT hub has catalyzed substantive development in the region.

Kompally

Affordability coupled with easy connectivity to Hitech City and Gachibowli via the Outer Ring Road (ORR) has helped the region climb the realty growth ladder. It is the cheapest in our list of the top five micro markets for ready-to-move in supplies.

Bachupally

There is also cash for proximity to the Bachupally IT Hub, the preferred residence for technicians working in Gachibowli and Hitech City. In addition, the social infrastructure here is developing rapidly

Kukatpally

The proximity of Hitech City, Madhapur and L&T Infocity has given a boost to real estate development in Kukatpally. The highest among the top five micro markets listed here.

SuGanta Realty Services llp

Greater Noida development body launch a housing scheme soon

Greater Noida: Families contemplating moving to the greener parts of Gautam Budh Nagar will soon have more options to choose from. The Greater Noida Industrial Development Authority (GNIDA) announced on Monday that it would launch more than 800 flats to provide 1BHK, 2BHK and 3BHK for home buyers in Sector 12, Eta II and Omicron I.

In the full list, a handful of ready-to-move flats will be available in the G + 3-storey building as well as in 20 storey high-rise towers. The residential allocation plan will be launched next week after the authority's CEO endorses the proper file.

The officer managing the scheme said that the units would be for three sectors – Eta II, Omicron I and Sector 12. The flats are priced between Rs 28.50 lakh and Rs 74.50 lakh, while their size is within 54.29 million meters and 132.95 sqm.

GNIDA first introduced a housing scheme (multi-storey apartment complex) in 2013. Nevertheless, the authority could not obtain buyers as the locality where the project was undertaken. Some flats in the finished buildings were to be brought forward in the forthcoming plans as the buyers were unable to pay the required amount or did not maintain the necessary documents.

The authority had then intended to auction 1,200 such flats before Diwali in 2019. Nevertheless, it did not initiate the scheme because it believed in focusing on developing projects that had previously been sold in the past.

As the apartment projects submerged in previous plans could not take-off due to land acquisition concerns with farmers, the authority granted built flats to buyers who could not be given possession. Assistant General Manager (Property) K K Yadav said: About 350 to 380 flats have been given to genuine buyers. The remaining 880 flats will be put up for sale next week. There has been a lot of development in these areas and many families are living in the surrounding areas.

GNIDA has reviewed the prices of ready-to-move-in flats to meet the current market prices. Originally offered for Rs 39 lakh in 2013, the 2BHK deluxe price has been increased to Rs 48.35 lakh. Apart from this, the price of 3BHK and 1BHK has increased from Rs 69.50 lakh and Rs 23.50 lakh to Rs 74.50 lakh and Rs 28.50 lakh respectively. There will be units to offer 1BHK flats on offer, the official continued.

The flats will be provided for a 90-year lease supporting the draw. The authority will be part of the 816 units approach at its entrance and enthusiast buyers will be offered the possibility to implement online.

Interested buyers will need to accommodate eight options. Nevertheless, a person will be able to choose only the flat on the floor. “The final allocation will be made within the draw of lots. If a person shows interest in only one flat, he will be in a position to ensure allotment without any problem. Flats that are in high demand will be handed over through a draw." 

https://www.suganta.com/properties-for-buy/noida.html

SuGanta Realty Services llp

Nagpur: Proposal to increase up to 60% in building plan clearance fee

The Town Planning Department of NMC has decided to review the improvement and building plan clearance fee up to 60%.

The department's proposal on review of the allegations will be postponed before the Standing Committee's enquiry on 7 January. The civil administration has also submitted 59 other proposals collectively for an estimated Rs 44.75 crores.

The grand alliance was Rs 15,000-75,000 per sq.m. For the creation of the approval program, but the department intends to make up to Rs.2,200, Rs.1 lakh, which is an increase of 40%.

Related rates were also recommended for stocking building materials. The administration has recommended a fee of Rs 24,200 per sq.m. to 75,000 per sq.m. Nevertheless, the rate established by the general body was Rs.15,000 per sq.m. 50,000 per sq.m. as per schedule.

It also aims to improve tree deposits. The department intends to double tree deposits ranging from Rs 500 to Rs 1,000.

In addition, the Town Planning Department has also intended to include unauthorized constructions in rooms to eliminate stairways, pathways, lobbies, elevators, etc. from the carpet area by paying a dividend of 5% of the ready reckoner rate of property. The actual fee is 4%.

Nevertheless, the department has recommended no difference in fees for regularization of unauthorized construction of floors. The proposal called for regularizing floor repos by taking a 4% permanent benefit on building property below 180 sq.m. Areas for all residential, commercial and industrial divisions.

The department's intention is to multiply the fees to compare the sewage network, while providing approval for the construction of any other assets.

It also proposes multiplying the charges of division or amalgamation of assets.

The revised rates proposed under the jurisdiction of Nagpur Improvement Trust would also be appropriate as the state government nominated as the planning authority on August 27, 2019.

Despite the financial situation of NMC being unstable, the Sports Department has volunteered to organize tribal greatness by contributing Rs 30 lakh to the Lake Futala. Additionally, the Social Welfare Department has proposed to maintain the Expo of Women Entrepreneurs at Reshimbagh Maidan from 19 to 26 January and has approved a sanction of Rs 91.78 lakh for this purpose.The Social Welfare Department also recommended allocation of Rs 1.87 crore for 70 unemployed disabled youth to get e-rickshaws.

SuGanta Realty Services llp India's most popular real estate site and user friendly property web portal. People listing their property for BUY/SELL/RENT can post a comprehensive description of their properties including video, photograph, layout plans and the exact location on the map which helps you to search perfectly in couple of minute.

Finalizes real estate rules for Delhi by Ministry of Urban Development

The real estate rules implemented in Delhi have been notified on 31 October this year by the Ministry of Housing and Urban Poverty Alleviation for the assemblies of five states without legislatures. However, they provide clarity on certain aspects such as litigation details to be published on the website, provision of quality audits of projects and flexibility in the agreement for sale. 

In relation to the publication of litigation details relating to the promoter on the website, it may be published on the website in relation to the projects being developed or being developed in respect of the lawsuits filed in the last five years by the respective courts. This has been considered because a promoter may not have complete knowledge about the various cases filed at the time of providing such information to the regulatory authorities.

The Delhi Rule also provides for regulatory authorities to audit the quality of third parties of real estate projects registered with them, to ensure the quality of project construction, services etc. in the interest of buyers.

With respect to the terms of the agreement for sale between the buyer and the promoter, flexibility has been proposed to include elements or facilities other than apartments, plots, garages, parking, if necessary. It is provided to address special contingencies related to the nature of the projects or the needs of the buyers.

Under Section 2 (G) of the Real Estate Act, the Ministry of Urban Development has been given the responsibility of framing rules for the National Capital Territory of Delhi.