News on Real Estate Delhi, Gurgon, Noida, Greno West

PUNE: The Kondhwa police on Saturday booked two Mumbai-based builders and their nine associtates for allegedly taking money from home buyers but failing to hand over apartments within a stipulated time frame. The builders have been booked under relevant sections of Maharashstra Ownership Flats (Regulation of the promotion of construction, sale, management and transfer) Act and Maharashtra Regional Town Planning Act and Maharashtra Apartment Ownership Rules and the cheating and forgery sections of the Indian Penal Code. This was the second offence registered against builders under MOFA. Recently, the Pune rural police booked Dehu Road-based builders for not executing a conveyance deed for flat owners at a housing complex in Dehu Road. Mahavir Pawar, a resident of Balajinagar, who has yet to get the possession of his flat in the housing complex constructed by the builders in Tilekagarnagar in Kondhwa, has lodged the police complaint. Pawar told TOI it was not an easy task to lod...

NH24: Is Ghaziabad ready for a smooth ride to Delhi? Vandana Ramnani |  Updated: Jan 23, 2016 18:27 IST Work on the much-delayed NH 24 is likely to begin in the next two months. (Ravi Choudhary) Share 30 Share Share Share Prime Minister Narendra Modi recently launched the Rs 7,566 crore project for widening the Delhi-Meerut Expressway, commonly known as NH 24. Delayed for over six years, the project is now finally ready to take off in the next two months, with completion timelines set at 30 months. Advertisement: Replay Ad Ads by ZINC As seamless connectivity will make traffic jams a thing of the past and slash travel time to Delhi, HT Estates tries to gauge the mood and the impact...

NEW DELHI: India's financial hub Mumbai, which is home to 41,200 millionaires, and national capital Delhi, which houses 20,600 high net worth individuals, have been named among the top Asia Pacific cities for HNIs. According to the Asia Pacific 2016 Wealth Report, by New World Wealth, Tokyo is the top Asia Pacific city for the ultra-rich with 2,64,000 millionaires, while Mumbai and Delhi got featured in the 12th and 20th rank respectively. High Net Worth Individuals or HNWIs (millionaires) were defined as those individuals with net assets of USD 1 million or more. Over the past 10 years, Jakarta was the fastest growing major city in Asia Pacific in terms of millionaire growth followed by Hangzhou and Tianjin in the second and third place respectively. Mumbai and Delhi closed the top five cities as they registered a growth of 357 per cent and 335 per cent respectively between 2000-2015. Going forward, Mumbai and Delhi are expected to cement their position further in terms of HNWIs ...

Delhi/NCR Godrej Properties has signed a new development management agreement with NCR-based builder Lotus Greens to build a housing project in Noida, highlighting the trend of local builders tying up with pedigreed corporate real estate players in a bid to shore up sales in the current slow market. In Gurgaon, builder Ramprastha too has signed a joint development agreement with Godrej Properties while builder Lotus Greens is also in talks with Tata Housing for a partnership in Noida. In Mumbai, Tata Housing had recently signed an agreement similar to the one with Lotus Greens with Mumbai-based builder Neptune Group to develop a 10-acre housing project in the eastern suburb of Bhandup. "In this trust deficit market, for end users, it is important to understand who the developer is. End users are today more trusting of these corporate brands, which have been able to deliver," said Shveta Jain, executive director-residential services at Cushman & Wakefield. For Godrej P...

Delhi/NCR Noida Authority is getting ready to launch an affordable residential flat scheme on January 26 to mark the occasion of Republic Day. On offer will be 2000 flats under the Samajwadi Awas Scheme. Samajwadi Awas Yojna is an ambitious affordable housing scheme of UP government in which UP aims to develop about 3 lakh affordable houses in the range of Rs 15 to 30 lakh by 2016 in the state for economically weaker section (EWS) and low income group (LIG) categories of the society. The scheme is also likely to offer concessions, which include rebate in stamp duty and single-window clearances. According to officials, the affordable housing will be available in three sectors of Noida including sectors 117, 118 and 122. "Flats will be available in two sizes of 32 meters and 71 meters," said Saumya Srivastava, Deputy CEO, Noida Authority. "While there will be 1280 numbers of flats in 32 meter size, 71 meter size flats will total 720," he said. "Flats under th...

Being one of the prime contributors towards Indian GDP and employment generation, a lot is always expected out of the real estate sector. This sector alone is responsible for being a user for over 30 allied industries and sectors. As we bid a goodbye to 2015 and gear up for 2016, a lot has changed since the beginning of this year where several major announcements were made for infrastructural developments and the country in general that will highlight realty sector as its backbone. Much was delivered during the course with still some left in pipeline for the next year. ROLLER COASTER RIDE IN 2015 Year 2015 began quite well riding high on positive market sentiments due to current government’s enthralling victory back in 2014. Since then, a lot was expected out of them to assist this sector by easing the ways doing business thereby boosting the growth nationwide. “Modi led BJP government came strongly into power that led to rise in expectations from them. The start to January 2015 ...