Friday 17 May 2013

Akhilesh wants quick approval for Metro

Akhilesh wants quick approval for Metro



Uttar Pradesh Chief Minister Akhilesh Yadav has written to Union Urban Development Minister Kamal Nath seeking "immediate approval" for expansion projects of Delhi Metro Rail Corporation to Noida and Greater Noida.
In his letter, Akhilesh mentioned three Metro projects — extension of existing Rithala to Dilshad Garden line to Ghaziabad new bus station, Kalindi Kunj to Botanical Garden, and a Metro connection between Noida and Greater Noida.
The Chief Minister said the high-speed public transport will aid trade and development in the region and also benefit daily commuters.
The extension of Rithala line to Ghaziabad new bus station has already received the approval from UP, with the state agreeing to bear its share of funds. The 9.5-km long link is expected to cost Rs 1,600 crore, of which UP and Ghaziabad Development Authority will pay around Rs 990 crore. The Centre will give around Rs 344 crore and DMRC will shell out Rs 254 crore.
The project is now waiting for an approval from the Centre. Details for the other two projects are still to be worked out.

Thursday 2 May 2013


The most expensive real estate markets in the world

5. Paris
$2,350–$2,600 per sq. ft. ($25,300-$28,000 per sq. m)
Average price change in 2012: -4.0%



Experts say Paris is the city with the most potential to compete with London for foreign property investors. However, it was dealt a dual blow in 2012 by the euro zone crisis, and the new socialist government's proposed 75 percent wealth tax. As a result, property prices fell by 4 percent.
President Francois Hollande's proposals caused more than a few potential buyers to reconsider, and some owners to leave the country. The market saw buyer interest shift to Monaco, the Italian Riviera and Switzerland, according to Knight Frank.




4. Geneva
$2,720–$3,010 per sq. ft. ($29,300-$32,400 per sq. m)
Average price change in 2012: -6.0%
Prime property prices fell by 6 percent in Geneva in 2012, due in part to stricter mortgage policies and uncertainty regarding a new set of laws and taxes.
However, Knight Frank said prices in Switzerland are set to rise again, as the country is forecast to see a 27 percent rise in its high net worth population between 2012 and 2022. Strict planning regulations will also curtail new developments in hotspots like Cologny in Geneva, where the house pictured is located.
Geneva's on-going popularity is explained by its position as a global financial center, its excellent schools, safe environment and the Alpine ski resorts on its doorstep, plus Switzerland's political stability.




3. London
$3,890–$4,300 per sq. ft. ($41,900-$46,300 per sq. m)
Average price change in 2012: +8.7%
One of the most renowned safe haven markets in the world, London property prices increased by 8.7 percent in 2012, despite a new stamp duty tax on properties worth over 2 million pounds ($3 million).
The London property market was fueled by money from continental Europe in the first half of 2012. Then as fears the euro might collapse dissipated during the summer, Europeans buyers were increasingly replaced by those from the Middle East, Asia, Africa and Russia.
The property boom looks set to continue in 2013, with the average price of prime central London property rising by 0.9 percent in February, the highest rate in 10 months, according to Knight Frank. Prices have risen every month since November 2010, and are now 55 percent above the March 2009 market low.
"London is like a separate economic zone, it is the global investment destination of choice among global investors at the moment and I think that will continue," Richard Tice, CEO of property investment company CLS Holdings, told CNBC.
A recent Vanity Fair article on the owners of London apartments, such as the 6,000 ($9000) per sq. ft. one pictured here, read like a cross-section of some of the world's richest people, including Arab sheikhs, Nigerian oil billionaires, and supermodel Naomi Campbell's Russian oligarch boyfriend, Vladislav Doronin.




2. Hong Kong
$4,570–$5,050 per sq. ft. ($49,200-$54,400 per sq. m)
Average price change in 2012: +8.7%
The Hong Kong property market is so hot the government is fighting to cool it down. Despite new restrictions - notably an extra 15 percent stamp duty for foreign buyers, including those from mainland China - the rate of price increase almost doubled in 2012 to 8.7 percent, up from 4.6 percent in 2011.
A million dollars will only get you about 200 square feet (19 square meters) in Hong Kong, with a villa on The Peak, such as the one pictured here, costing considerably more.
Knight Frank put the city's popularity down to strong demand from both local and international owners, and investors who see the city as an international financial hub with a strategic geographic location and a liberalized economy.
Nevertheless, the government cooling measures are expected to impact property prices and Knight Frank forecast prices will move up or down by 5 percent.




1. Monaco
$5,350–$5,920 per sq. ft. ($57,600–$63,700 per sq. m)
Average price change in 2012: 2.0%
The principality of Monaco has a reputation for being a playground for the super-rich. With only 36,000 people, it is renowned for its casinos, yacht-filled marinas and the Formula One Grand Prix.
The price of its property reflects this. A million dollars will buy you only about 170 square feet (16 square meters) in prime central Monaco, with housing developments such as the Tour Odeon, pictured here, going for roughly €60 ($77.90) per sq. m.
Top-end real estate in Monaco has benefited from a shift away from Paris, with prices up 2 percent in 2012 after France proposed a 75 percent top rate of tax. In addition, neither individuals nor companies resident in Monaco pay income or business tax, making it likely to remain a favorite destination for investors looking for safe haven assets.



Tuesday 30 April 2013

Gaursons-Saviour to invest Rs 5000cr on township in Noida Extension

Realty firm Gaursons and Saviour today said they are jointly developing a 240-acre township in the Noida Extension with an investment of Rs 5,000 crore.

Gaursons and Saviour would develop about 25,000 housing units in the township 'Gaur City' over the next five years.

"We have got about 240 acre land from local authority for township development. We have so far launched 12,000 homes for sale," Gaursons India Ltd Managing Director Manoj Gaur told reporters.

The units are available at an all inclusive price of Rs 3,500-4,000 per sq ft, he added.

"The total cost to develop the township would be about Rs 5,000 crore," Gaur said, adding that the investment would be funded through bank debt, advances from customers and internal accruals from both the partners.

The construction has started in Noida Extension after settlement of land acquisition issues with farmers, he said.

"We will give possession of about 2,500 flats in 2014. The entire township will be completed in the next five years," Gaur said.

Asked about the nature of partnership with Saviour, Gaur said it's a 50:50 joint venture between the two partners.

In the township, he said the company will develop a 18- acre sports complex, shopping malls and multiplexes among other infrastructure facilities.

On completing 18 years of operations, Gaur said that the company would organised a property exhibition for next 60 days for sale of the housing units in this township. It would offer 60 cars and Rs 1 crore as gift in the lucky draw.

Gaursons has delivered many housing projects in last 18 years mostly in Ghaziabad and Noida. 

Monday 29 April 2013

More Metro routes for Noida

 

NOIDA: Clearing all tracks, the Uttar Pradesh government has given an in-principle approval to two proposed routes of the Metro rail project in Noida. The two routes— a 3.9-km route between Kalindi Kunj and Botanical Garden and the 6.7-km City Centre-Sector 62 link—will be built as elevated corridors.

Investment in the twin projects is estimated to be about Rs 2,660 crore. The proposal for the two routes, which got the long awaited nod, along with the state government's recommendation has been forwarded to the Centre for approval. "The file has been sent to the Urban Development Ministry for approval. Once we receive the go ahead, the MoU with DMRC will be signed and construction will start," said Rama Raman, CEO, Noida, who also holds charge of Greater Noida and Yamuna Expressway Authorities.

Wednesday 7 November 2012

Noida Extension Projects



With the start of Navaratra from October 16, the festive season, and with it the season of house-buying, will begin in earnest.
With the start of Navaratra from October 16, the festive season, and with it the season of house-buying, will begin in earnest.
NEW DELHI: With the start of Navaratra from October 16, the festive season, and with it the season of house-buying, will begin in earnest.

This is the time of the year when the majority of house purchases take place in our country. Think deeply about the factors that you should take into consideration before making the buy decision, and do some preliminary research in order to avoid harassment at a later stage.

Location: Both the spouses should take into consideration the distance from their workplaces and from their children's schools. If the travel time for any member of the family is beyond 45 minutes, it is likely to affect quality of life adversely.

Generally, at the time of house purchase, there is a tendency to make an optimistic assessment of travel time. Do take into account things like walking distance from your house to the bus stop or the Metro station, time required in changing modes of transportation, and so on.

If you use private conveyance, remember that traffic will only increase with the passage of years, and so will your travel time.

Connectivity

There may be plans for a Metro line or an expressway in the forthcoming destinations and information about such plans is available in the public domain several years before a project actually comes up.

By consulting the area's master plan and purchasing a house close to the planned project, you can reduce your daily walking distance and enhance the prospect of appreciation of your property's value in future.

Take the instance of Noida Extension. It is well known that the Metro line that to Noida, Sector 32, will in future be extended to the main roundabout in Noida Extension (where a Metro station will also come up). Do try to buy an apartment that is within walking distance of a Metro station.

Social infrastructure

Once you start living in an area, its social infrastructure will have a profound impact on the quality of life you enjoy. Find out how far away the nearest market place, where you will buy your daily necessities, and bigger markets, where big-ticket items can be purchased, are situated.

Also find out about the availability of hospitals and movie theatres in the neighbourhood.

In new areas, if the social infrastructure is not already in place, then for the first few years you may have to depend on neighbourhood areas. For instance, residents who move into the Dwarka Expressway area may, in the initial years, have to depend on the social infrastructure of Palam Vihar, Gurgaon and Dwarka.

Those who buy apartments in Noida Extension may have to depend on Noida for their recreational and big-ticket shopping. Will the distance be too great and thereby cause inconvenience?