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Southern Peripheral Road: The New Lifeline of Gurugram

 Mr. Parveen Jain, CMD, Tulip Infratech & Vice Chairman, (NAREDCO) Gurugram, in the last more than a decade, has seen unprecedented growth in its Realty outlook. Infrastructure, connectivity via road and metro network, Housing, commercial, offices, institutions, entertainment hubs, shopping malls, sports facilities, modern amenities, latest technologies, landscaping, services and overall development in all aspects which has established Gurugram as the front-runner at par with Delhi, Mumbai, and any other world-class city. The above-mentioned virtues of Gurugram attract masses from far off states all over the nation in search of jobs at all levels for a better living. To cater to the housing and living needs of the teeming millions, Gurugram keeps on bracing itself with even further dev...

RERA – Still Rare on the Ground

Anuj Puri, Chairman – ANAROCK Property   Consultants Maharashtra has the most RERA-registered projects with 17,353, UP with 3,950 projects Serious developer-favouring dilutions impacting demand in many states More than a year after RERA was formally implemented, we are beginning to see some real impact on the ground. However, the results are still far from scintillating. Progress so far Out of all the states and Union Territories in India, Maharashtra takes the first place when it comes to proactive RERA adoption, implementation and integration, followed by Uttar Pradesh, Gujarat, Madhya Pradesh and Karnataka. As per the latest registration updates, more than 32,306 projects and 23,111 real estate agents have been registered under RERA across states. Maharashtra has the highest share...

Infrastructure Development- Who is responsible?

We often book flats and after all the struggles, eventually, get possession as well. However, when we go shift to our new abode with all the excitements, enthusiasm and expectations of starting new innings of our lives, we suddenly encounter a bundle of problems which are beyond imaginations. Yes, this is the common story of every other person who dreamt of living in metros and booked the flats. Ironically, they pay all the charges related to each and every kind of development long before they actually shift to their houses. Payments like External Development Charges (EDC), Infrastructure Development Charges (IDC), maintenance charges etc. are all collected before the handover of the flats and irrespective of whether the development has actually happened on the ground or not!  Apparently,...

WakeUpIndia First podcast: The Issue of Delayed Infrastructure Projects

There are so many projects which get delayed in India. But no one bothers to ask any question. Our national parties do some blame game together, but results are a big ZERO. In some cases, the projects get its due, but the majority of the projects either runs on a long delay or are halfway through. Here are some of the facts for our readers to assess the overall status of various projects running under various initiatives by our govt. or town planner or authorities:  As many as 302 infrastructure projects worth Rs 150 crore and above are delayed with a total cost over-run of Rs 1.45 lakh crore as on November 1, 2017. This is as per a report by the Ministry of State for Statistics and Programme Implementation As per the minister Shri Vijay Goel, a standing committee in each ministry has bee...

RERA may need another 12- 18 months to be fully implemented

Ramesh Nair – CEO and Country Head, JLL India While the implementation of RERA has been below target, it has indeed seen positive steps forward. The achievements of the past year should be seen in the light of the fact that previously, there were no regulations for the sector. RERA brought about a paradigm shift in the real estate landscape of the country. We all hoped that it would be enforced within time limit set by the government, but it would have been an uphill task to enforce it in a short window of a few months. However, the commitment from the various state authorities look promising. We believe that RERA will come to force across the country soon. Predictably in the next 12- 18 months, all the States and Union Territories should be able to establish respective permanent regulator...

Real estate bill

The salient features of the Bill are as under:  Applicable both for commercial and residential real estate projects. Establishment of ‘Real Estate Regulatory Authority’ in States/UTs to regulate real estate transactions. Registration of real estate projects and real estate agents with the Authority. Mandatory disclosure of all registered projects, including details of the promoter, project, layout plan, land status, approvals, agreements along with details of real estate agents, contractors, architect, structural engineer etc. Deposit of specified amount in a separate bank account to cover the construction cost of the project for timely completion of the project. Establishment of fast track dispute resolution mechanisms for settlement of disputes through adjudicating officers and Appellate...

Magicbricks.com ‘Dream Homes Festival’ Season 2 is here!

Magicbricks offers the home buyers to avail customized deals and amazing discounts on every property.  RM Correspondent The 21 day long festival will commence during the auspicious period of Navratras on 3rd October and will continue till 23rd October, 2016. The idea behind the Dream Home festival is to give a platform to consumers to avail the best possible online deals on properties. This time the fest is going to be five times bigger than its previous version in terms of no. of properties which will be showcased and the offers available for the customers. To add on the festivities, the Dream Home Festival will feature more than 400 projects which will be available for consumers on irresistible discounts, offers and exciting prices. The properties featured on the portal will be from deve...

What Drives The Growth Of Theme-Based Housing?

Growing competition and rising aspiration has led to more sophisticated real estate development in India. With increased globalization, Indian consumers are rapidly being exposed to global standards and desire to live a luxurious life. This is acting as a cue for developers to develop classier projects. Shubhranshu Pani, Managing Director – Strategic Consulting, JLL India Enviable location, spacious living spaces and pleasing architectural design are the basic expectation of modern home buyers in the prime residential category. With architecture becoming an important criterion of choosing a property, urbane residences have emerged as a successful strategy in the Indian real estate domain. To differentiate their residential products, add a unique dimension and meet the growing aspirational ...

Don’t get cheated if you are investing in a property

Real estate investment is reputed to be something only experts at the game should play at. Nothing could be further from the truth. Unlike stocks, residential real estate is an investment asset class that is quite predictable and very familiar. In fact, anyone who has ever bought or even rented a home will know instinctively what kind of home will work as an investment. Here’s some tips for investing in the right property #Location Value: The term ‘location, location, location’ is a very familiar one, and it is the time-tested maxim behind every successful property investment. When making an investment in a residential property purely for capital appreciation, it is imperative to consider the location and surroundings of the project. It is the location and its immediate s...

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