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| Unitech
to Announce New Projects - Market Looking
out for the Gurgaon Project |
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With
Unitech’s “Habitat”
project taking off at Greater
Noida, it is expected that Unitech
shall soon announce more projects
in NCR, including Gurgaon. |
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The
market is already ripe with
rumours that Unitech is going
to announce one or more projects
in Gurgaon. Brokers, agents
and banking institutions specializing
in property loans, are allegedly
engaging themselves in desperate
bulk SMS and extensive cold
calling to beg for cheques from
their clients. |
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Prevalent
information all over the place
estimates the rates to be quoted
any where between Rs.3600/-
to Rs.4200/- per square feet.
However, it is expected that
the rates are going to lean
more towards the higher side
than the former. The potential
areas for the project are several,
but more hopes are being pinned
to the location at South City
II plot of Unitech, bordering
Nirvana Country. |
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| Access
Information On Gurgaon Farmlands On
The Web Jamabandi.Nic.In |
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Haryana Government has taken a
leap forward with launch of its
website www.jamabandi.nic.in.
The site has been set up to essentially
cater to all those prospective
buyers of farmlands or farmhouses
in the rural stretches of Gurgaon,
looking out for information regarding
ownership, location, size etc.
of the land they plan to buy as
well as download registration
and mutation documents from the
official website. With this site,
the government expects to relieve
the buyers from the mean clutches
of patwaries or unorganized property
dealers. |
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The
site presently provides land records
of 218 villages out of 289 villages
from the documents of the revenue
department of the Haryana Government,
from its recently launched Haryana
Land Records Information System
(HALRIS) developed by National
Information Center. |
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| Ambani's
SEZ - Special Economic Zone - Near Gurgaon |
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The
Haryana Government has inked a
landmark deal with Reliance India
Ltd for setting up a Special Economic
Zone (SEZ) straddling 25,000 acres
in Gurgaon and Jhajjar districts
and promising an investment of
Rs 40,000 crore from 500 firms,
10 lakh jobs and global competitiveness.
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Anil Ambani, RIL
chairman, sees this SEZ to be
at par with the ones in China,
Dubai, Singapore and Malaysia.
He also plans to rope in 10 to
15 of the 100 best companies of
the world for this project. With
this project, Ambani forecasts
the country to acquire center
stage of the global economy. |
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This project shall
be the first public-private participation
project of the Reliance India
Ltd. that is eventually headed
to translate into unique infrastructure
facilities in the northern region.
A Special Project Vehicle (SPV)
with a director from HSIDC and
two from RIL has been set up for
this project. The project is supposed
to have its own 2000-MW power
plant. |
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| DDA
set to repossess plots Vacant For Over
19 Years |
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A new policy of DDA is all set
to finalize, which aims at ending
the trend of holding vacant
plots for endless years, (originally)
allotted by the Delhi Development
Authority for construction purpose.
The policy, which has already
been approved by the Delhi Lieutenant
Governor B.L. Joshi, is likely
to be notified shortly. |
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The
agency has decided that from
now on anyone who is allotted
a plot under either residential,
institutional, commercial, industrial
or group housing society category
will have to complete construction
within 10 years failing which
DDA will take over possession
of land without giving any further
notice. Besides completing construction
in ten years, the allottees
will also have to pay a composition
fee from the second year of
allotment of the plot till the
tenth year. |
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DDA has also set a deadline
of December 2007 for all allottees
that bought plots from the agency
10 years back and have failed
to start construction till date,
to complete construction failing
which, DDA will take over the
plot. There are over 200 such
plots including instances where
the land has changed hands many
times over after the original
allottee sold the plot. |
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| Rental
rates of Delhi, Gurgaon, & Noida
set to overtake Mumbai |
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With MNCs and all major business
players of India eyeing Delhi
and NCR for setting up their
business centers, the property
rates and rental rates of Gurgaon,
Delhi and NOIDA are already
on fire. The evidence is noticeable
from the rapid increase in the
rents of commercial properties
in NCR (mainly Delhi and Gurgaon)
in the first quarter of the
current calendar year, which
is way ahead than the rents
in the country's termed commercial
capital, Mumbai. The astounding
average rate of increase has
been computed to be 30% in Gurgaon
and Noida, as against the submissive
average growth of 17% to 18%
witnessed by Mumbai and the
adjoining areas. According to
a report prepared by C B Richard
Ellis (CBRE), between December
2005 and March 2006, the rental
appreciation in Gurgaon, on
the outskirts of Delhi, have
been more or less the same as
that in Navi Mumbai, on the
Mumbai outskirts. |
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| Deutsche
Bank study reveals untapped real estate
stock market |
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A
recently conducted study by
Deutsche Bank reveals that public
equity stake in the realty industry
stands at a dismally low level
of 0.2 per cent, while more
than 98 per cent of the overall
Indian commercial property market
remains in the owners' hands.
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Commenting upon
the public equity stake in realty,
the study states that though the
Indian real estate sector is towering
new heights, the capital market
growth potential remains largely
untapped so far. A majority of
the overall stock market presence
of the real estate sector in India
is privately held, while the publicly
traded component of the industry
is still in its nascent stage
with investors limited to only
a handful of listed companies,
in which promoters hold the majority
of the stake.
But with DLF universal planning
to raise more than Rs 12,000 crore
through its public issue, the
situation seems to set to improve.
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| Hindustan
Times Foresees Fizzling out of Gurgaon's
Real Estate Upward Spiral |
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Thanks to large-scale
commercial and government-sponsored
projects, the realty industry
of Gurgaon and Noida seems
to be reaching its saturation
point. The speculators
and investors are in possession
of excessive housing stock
than they can sell. On
the other hand, the adamantly
and rapidly rising property
rates are tending to discourage
prospective buyers and
making them move towards
nearby Tier 2 cities such
as Jaipur and Chandigarh.
The state governments
of the adjoining areas
to Gurgaon and Noida are
more than keen to help
these buyers migrate to
their cities with a hope
to repeat Gurgaon success
story. Gurgaon based real
estate moguls such as
DLF, OMAXE and Vatika
Group have, for example,
acquired large chunks
of land in Rajasthan and
floated townships in Jaipur.
Smaller players are also
making a beeline to Tier
2 cities. |
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| Investment
Process |
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Gurgaon
real estate market has recorded
an exemplary growth over the years
that builders/ constructers hope
to replicate the phenomena in
other lesser lands. Gurgaon has
become a name of status symbol,
affordable only by the affluent.
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When looking out
for an investment opportunity
in Gurgaon, concerned person is
advised to seek a professional
help like ours, to save on his
time and effort as well as avoid
getting stuck with any shaky deal.
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The first and foremost
step is to find the most lucrative
investment option for you. We
immerse ourselves into your constraints
and strengths in all respects
of significance and accordingly
zero down to investment outlets
for you. We boast of years of
experience in the property market
of Gurgaon with constant association
with financial and administrative
institutions over the years, rendering
us well conversant with the legal
and documentation formalities
and precautions involved in any
type of property transaction.
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The procurement
of land for real estate projects
continues to be lengthy and arduous
affair. Often land titles are
not clear, transactions take a
long time and tedious regulatory
processes reduce the speed of
transactions and raise their costs.
We ensure that the cumbersome
and time-consuming property transactions
are rendered easy and quick for
you. We undertake investigations
for our clients as regards the
clarity of land titles, unbroken
series of documental proof establishing
changing hands of the property
in question and no inadvertent
transfer of pending over dues
of the existing owner, in our
client’s name. |
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Getting clearance
and approval of housing and real
estate projects is a lengthy process
as there are several agencies
involved in giving clearances.
Further, every state has its own
set of clearance procedures. With
our clarity on the legal requisites
and the time required for all
the clearances, we render the
process short and manageable for
our client. |
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