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Vol.-01 | Issue-4 (Weekly) | October 29, 2010 | Pages-08 | Noida, Gr. Noida, Ghaziabad, Indirapuram, Vaishali, Vasundhara, Kaushambi & Shalimar Garden
Noida Extension is all set
to become Delhi NCR’s
next budget housing hub
F
irst there was the Mayur the developed sectors of Greater first 10 kms likely to become
Vihar extension. Then Noida and Noida. operational within the next
we heard about Raj The nomenclature being used for three months. A 60 m road
Nagar extension. And now it’s the area is Noida Extension. This connect from NH 24 also
Greater Noida’s turn to do some is to differentiate it from both passes through the area.
stretching. Technically Greater Noida and Greater Noida, and This stretch is almost ready
Noida’s Sector 1, this area is all set also to make it clear to potential (work on 1.5 kms needs to be
to give a tough fight to projects home buyers that it’s close to completed). “A 100 m wide
coming up in Noida, especially Noida and not as far as Greater commercial belt is planned on
those in sectors 121 and 119, Noida. one side of the 130 m road as
primarily in terms of price and per the Master Plan 2021,” says
location. Several builders have The new projects coming up
here are located adjacent to Mukul Singhal, CEO, Greater
been allotted land here for Noida Authority.
constructing residential units ¬ Noida’s Sector 121 and face
both high- and low-rise structures. the 130 m road now known as Metro connectivity is com-
Commercial and corporate the Noida-Greater Noida Link ing here soon, too, with the
activity is also planned for the Road. This stretch is current- Delhi Metro Rail Corporation
area as rates are less compared to ly under construction, with the Ltd (DMRC) having sent a
Cont.. Page-3
Friday Property Info, Delhi, 29 October 2010 2
PRoPERty UPDAtE
tenure has Bearing on EMI Amount
ASHISH GUPTA outlines some years. This way, the monthly EMI the present as well as the future
factors you need to take into payments will be lower. Although income of the borrower. The
account while borrowing a home the amount of interest paid will be borrower should be able to repay
loan higher as compared to other options, his EMIs without compromising
Repayment of a loan taken to buy you can have the benefit of availing significantly on his quality of
a house is through EMIs (equated the loan for a longer period of time. life. The cash flows available after
monthly instalments). EMIs are However, if you are borrowing at repayment of EMIs should not
the fixed instalments a borrower the end of your earning years, say entail a dent in his living standards.
needs to pay over the tenure of the around the 50s, you will have to opt As such, a judicious planning of
loan, to repay the debt as well as for a shorter tenure. cash flows is required.
the related interest to the bank. The longer the tenure higher the tax sops
Usually, the EMIs remain constant interest rate because of the increased Tax considerations should not
over the tenure of the loan. risk of the bank. However, the be overlooked. You should
Arriving at EMI avail the maximum tax benefits
To put it in simple terms, the loan to put it in simple terms, the available under the Income Tax
amount plus the interest on the loan amount plus the interest Act. Presently, interest up to Rs
loan through the tenure, divided on the loan through the 1.5 lakhs per annum paid on a
by the tenure of the loan (in tenure, divided by the tenure housing loan is deductible from
months) gives you the EMI. The of the loan (in months) gives the taxable income of a person.
amount of EMI to be paid depends you the emi This translates into a saving of
on amount of loan, tenure, rate of Rs 45,000 per annum on the tax
interest, and mode of calculation front. No other tax avenue offers
EMI is lower because the loan and a better opportunity than this. An
of interest. interest are spread over a longer asset creation is partly financed by
tenure significant period of time. The shorter the tax sops.
One of the important parameters tenure, lower is the interest rate
because of the reduced risk of the Accordingly, a borrower should
governing the amount of EMI is structure the housing loan amount
the tenure of the loan. Nowadays, bank. However, in this case, the
EMI is higher because the loan and tenure so that the annual
you can avail a loan for various interest component paid in the
tenures - from five years up to 20 and interest are to be repaid over
a shorter period of time. near future is Rs 1.5 lakhs per
years - and in a few cases, up to 25 annum. Of course this would be
years as well. Income contingent on other factors as well
If you decide to borrow early, at The income of the borrower such as the annual income and
a younger age, you can opt for also matters. This includes both savings potential.
a longer tenure loan -15 to 20
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3 Friday Property Info, Delhi, 29 October 2010
DElhI/NCR
Contd.. from Page-1
detailed project report (DPR) Amrapali and Gaursons India and three categories of three-BHK 15- 20 days. Construction will be terms of connectivity because
to the Greater Noida authori- ty Limited. apartments: 1,270 sq ft, 1,405 sq spread over four phases. It will take of the proposed metro line and
proposing the route for Phase 1. Gaursons have been allotted 130 ft and 1,480 sq ft. There will be us about five years to develop the the infrastruc- ture development
As part of this phase the Metro is acres to develop a township. “This 15-20 storeys on offer. The flats entire town- ship. The Cooperative in the area,” says R K Arora,
expected to con- nect the Sector is perhaps the first township that are priced at Rs 16 lakh onwards. Group Housing Scheme will be chairman and managing direc- tor,
32 City Centre to Barolla, the has been allotted by the Greater Besides apartments for retail, plots delivered in the next 27 months,” Supertech Group.
Expressway, Pari Chowk and Noida Industrial Development are being offered adds Manoj Gaur, joint man- There would be both high rises
Knowledge Park 4, covering a Authority,” says Rahul Gaur, aging director of the group.
to Cooperative Group Housing (plus- 15 storeys) and low rises
total of 29 kms. Phase II of the managing director, Gaursons India The Supertech group has also (plus-five storeys) in the Eco
Societies (CGHS) where “we are
project will connect Knowledge Limited. launched Eco Village, a project Village and it’s to be completed in
offer- ing tailor-made apartments
Park 4, sector I in Greater Noida that’s spread over 50 acres. It will
Besides residential, the township for govern- ment and PSU four phases, the first one getting
and Noida sectors 71, 72 with the be constructed in two phases and
will also have commercial and employees,” says Gaur. over in 15 months. “We hope to
Sector 32 City Centre. is expected to be complete in 30
institutional areas. Almost 45 acres The township will also comprise a complete the formalities within
Metro connectivity to the area is have been left as green areas. months. On offer are one- to
stadium offering facilities such as one month and construction will
expected in the sec- ond phase. four-BHK apartments with areas
Saviour, another developer, is a football, cricket and badminton ranging from 550 sq ft to 2,275 begin in the first week of May,”
There is a reason- able expectation
partner in the project. academies besides schools, sq ft. The cost of the apartments says Arora.
that it will come up soon,” says
The housing products on offer hospitals, multiplexes, hotels and start at Rs 9.75 lakh “Noida According to Anil Sharma, CMD,
Singhal.
are three types of two- BHK: 915 offices. “We will open the retail Extension will become the next Amrapali Group, which has its
Developers who have been given sale of residential units within preferable destination soon in
sq ft, 1,060 sq ft and 1,175 sq ft Amrapali Smart City project here,
land in this area include Supertech,
“We have been given 100 acres and
plan to build 6,000 housing units
right from 500 sq ft to 1,700 sq ft.
The focus is on affordable homes.
There will be 2,000 low-rise
apartments and 4,000 apartments
in 15-storey structures. Costs of
the apartments will range from Rs
9 lakh to Rs 30 lakh. Construction
will begin in April. The first phase
comprising 3,000 apartments will
be delivered within two years.”
housing and Urban Poverty
Alleviation Ministry Gives
Final shape to “Slum Free India”
UPA-II’s ambitious final shape to other crucial slums, redevelopment,
programme to make the aspects like financing rehabilitation and
nation slum-free within pattern, contribution of the constructing new houses
five years is all set to take Centre, states and the model after factoring in the views
off as the housing and for PPP. of concerned stakeholders,
urban poverty alleviation states and the expert
Prior to unveiling the
ministry has finalised the committee, which is headed
scheme, the ministry had
scheme, and how now sent by Deepak Parekh.
asked the state government
The ministry
constituted the
expert panel
to estimate
“reliable” urban
slumpopulation.
As per the
c o m m i t t e e ’s
findings, around
93.06 million
people will live in
slums in cities by
next year. Faced
with funds crunch,
the ministry has
sought supports
of banks,
other financial
institutions and
it to finance ministry for
to chalk out an action plan the real estate sector to use
approval. Last year, the
for slum-free cities, and its interest subsidy scheme
government had announced
sanctioned Rs 120 crore for for construction of houses
the launch of Rajiv Awas
it. Besides, slum-free city for urban poor. “There is a
Yojana (RAY) aimed at
planning, the states were need for credit enhancement
making cities slum-free,
asked to frame legislation through appropriate fiscal,
addressing the problems of
to accord property rights legal and institutional
slum-dwellers and urban
to slum-dwellers, and also mechanism to ensure the
poor in a definitive and
formulate detailed project flow of capital to realize the
holistic manner. With the
reports for the release of vision of slum free India,”
sanctioned budget of Rs
funds. The ministry has re- housing and urban poverty
1,270 crore for the current
drafted the RAY scheme alleviation minister Kumari
fiscal, the ministry has given
to focus on upgrading Selja said.
Friday Property Info, Delhi, 29 October 2010 4
5 Friday Property Info, Delhi, 29 October 2010
Friday Property Info, Delhi, 29 October 2010 6
DElhI/othER
Protecting Properties of NRIS
The government must do more the property.” “It is not a matter that is only properties of NRIs, who remain fear that somebody would grab
to safeguard the properties of We all know that a person residing considered in respect of wealthy out of India for many years. I have their properties in their absence,”
NRIs in India and laws must be outside India can hold immovable NRIs. There is a great need to seen that people encroach upon Alimuddin Rafi Ahmed says.
made stringent to deal with land property in India acquired by way of make our laws more stringent the land or properties of NRIs as Legal experts say that if NRIs
grabbers who usurp their assets, inheritance from a person resident so that nobody dare try to grab they know nothing would happen inherit property in India, they
says VIVEK ShUKlA in India. There are thousands of properties of anybody through to them. The cumbersome process must take proper care of those
Recently, there was shocking news properties that NRIs inherit and forged documents or through of our law is such that it takes long properties. One has to go for proper
in a leading daily which highlighted which are not attended properly other illegal means,” Devinder to get justice even if you live in legal documentation process. They
the plight of a Zambiabased in India. It is Gupta, head of Century 21 India the country. If you live away from must also pay the municipal and
teacher whose house was grabbed really a problem other taxes through cheques and
by his own sibling. area as a large photocopies of those should be
The case pertained to a Meerut- number of NRIs kept in a safe place. Moreover,
born teacher who was settled complain during one should not give wide power
in Zambia for several years and Pravasi Bharatiya of attorney with unlimited powers
had purchased a house in the Divas (PBD) to friends or even relatives. If a
name of his mother. A couple sammelans that power of attorney has to be given,
of month after he returned to efforts should it could be for a specific purpose of
Zambia, he got a message from a be made so that maintenance and protection of the
friend informing him that there such properties property. It should not grant the
was a flurry of activity in his new are guarded from power to sell, nor agree to sell.
house. A new floor was apparently dubious people However, Chandrasekhar Tiwari,
being constructed over his house, who go all out an expert on NRI matters, said that
without his knowledge to boot. to grab them it has become a habit of NRIs to
When the teacher inquired of with the help of criticize anything and everything
his mother, she told him that his strongmen. related to their own country.
younger brother was building the Top government “They have to understand that if
second floor. And one can imagine officials routinely they do not look after their own
the shock of the teacher over this assure NRIs that property on a regular basis, who
news. But he was helpless to take their grievances else would take care of that. As
any remedial measures. would be and when they come here they
According to Arun Mohan, a addressed - and says. it, then only god can help your slam the Indian system as though
noted lawyer specializing in the the whole matter is forgotten once cause.” it were a clockwork world where
the PBDs are over. According Santokh Chawla, a Dubai-based
realty sector, succession and NRI with interests in amusement “I feel that if we make our they currently reside.”All said and
ownership matters: “It is advisable to Arun Mohan, “Shady people done, there is a need to address
make a survey of properties which park business, says: “I can tell laws stringent with respect to
that they [NRIs] ask more than you from my own experience that inheritance of properties, many the genuine concerns and issues
one friend or relative to take care are lying unattended and on which of NRIs. After all, they are Indians
taxes are not being paid. Such while the government asks NRIs more NRIs would invest in the
of their property. If it is a house, to invest in India in a big way, they realty sector. Many of them fear and invest here.
a nameplate engraved on the wall properties are more likely to be
grabbed by unscrupulous people.” do precious little to safeguard the investing here as they always
would go a long way in protecting
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7 Friday Property Info, Delhi, 29 October 2010
GhAzIABAD / othER
Developers Moving towards Ghaziabad
Ghaziabad was a tehsil of Meerut of Uttar Pradesh’s most developed Indirapuram, including areas near the Hindon river bridge. This for hi-tech cities in Ghaziabad.
until November 14, 1976, when cities. The city is regarded by City Dilshad Garden border, Apsara township, coming up over more The Ghaziabad Development
it was made a district. Growing Mayors and Newsweek as the border, Loni border and NH 24 then 150 acres, has 15 developers Authority is quite bullish regarding
by leaps and bounds, the city has 2nd and 6th fastest developing to NH 58 will be the focus of with each of them coming up the infrastructure development
not looked back since then, and city in the world, respectively. development and in the city. One with a slew of affordable housing in the city and nearby areas. An
is today one of the hottest realty The city has well-planned roads, can see major developments by projects. The SVP Group has two equal stress is also being given
destinations in the NCR. A K malls, flyovers and the Metro SVP Group, Supertech, Antriksh, residential projects, Gulmohar to have sustainable and planned
TIWARY writes development.
After Noida, Greater Noida and The government is encouraging
Gurgaon, it is the right time to tree plantation and energy-efficient
invest in Ghaziabad, which is buildings and technologies in
developing into a hot destination the construction in this area.
and is also known as the gateway Considering the developments
of Uttar Pradesh. The budding city taking place in Ghaziabad, one
is slated to have multiple projects cannot doubt that the region
like a number of shopping malls, will sport a completely different
multiplexes, and residential and look in the near future. Major
commercial development. Keeping construction work is taking place
the pace of development and on NH 24 and NH 58 and offers a
rising demand, a lot of developers large number of residential options
and builders are moving towards in the affordable and luxury
Ghaziabad, which is 19km east category. SVP Group also has a
of Delhi and 46km southwest of luxury project Villa Anandam
Meerut. on NH 58. The project with 198
The city is the headquarters of the villas will be spread over 12 acres.
Ghaziabad district. Initially, it was Before November 14, 1976,
part of the Meerut district after Ghaziabad was a tehsil of Meerut
Independence but now, it is a full- district. Then chief minister N
fledged district. D Tiwari declared Ghaziabad a
The city gets its name from its district on that date and from that
founder, Ghazi-ud-din, who time there was no looking back
named it Ghaziuddinnagar. for this city - be it on the social,
Later, the name was shortened to economic, agriculture or the
Ghaziabad. It is a large industrial connectivity. Assotech, among others, which Garden over 15 acres and Krishna industrial front.
city and is well connected by roads From the historical cultural, have big projects right in Mohan Garden on 6 acres, both having Ghaziabad lies on the Grand
and railways. It has multifarious mythological and archaeological Nagar, the entry point of Ghaziabad nearly 1,400 residential units. Trunk road about a mile east of
industries like maintenance point of view, Ghaziabad is a city. SVP Group’s is developing the According to the Master Plan the Hindon river. Other roads
depots of electric locomotives prosperous city. This has been Gulmohur Greens, which is spread 2021, the total population of lead northwest to Loni and
and EMU trains, manufacture proved from the research work over 23 acres. This is a complete the city is expected to be nearly Baghpat and east to Hapur and
units of railway wagons, bicycles, and excavations carried out at residential project with around 23 lakh. As per the plan, about Garhmukteshwar. Buses operate
tapestries, glassware, pottery, paint the mound of Kaseri on the bank 1,200 residential units, which 6,975 hectares would be utilized at frequent intervals from here
and varnish, heavy chains, etc. of river Hindon, 2km north of include flats, villa apartments and for residential use, 491 hectares to Delhi, Meerut, Aligarh,
Also, it has an ordnance factory Mohan Nagar, showing remnants three-tier penthouses with terrace for commercial, 1,933 hectares Bulandshahar, Moradabad,
at Muradnagar while the Bharat of a flourishing civilization here in gardens and pools. SVP also has for industrial, 501 hectares for Lucknow, and to other districts
Electronics limited manufactures 2,500 BC. a commercial project, Gateway office, 1,201 hectares for public as well. It is an important
defence products. Mall, spread over 6 acres at Mohan and utility services, 2,484 hectares junction on the Northern Railway
Cut to the present day, the city Nagar. for parks and entertainment, and where railway lines, from Delhi
Once notorious for the staggering is going to have a 360 degree
rate of crime and law and order From here, when one starts moving nearly 1,392 hectares for roads, to Kolkata, Moradabad and
development in all segments bus depots and railways. In order Saharanpur meet, connecting it
problem (it had been ranked third including commercial, residential, towards Ghaziabad City, you
on the list of world’s most crime will see one of the first affordable to facilitate technology-oriented with many important cities across
office space, education and growth, the plan also allocates India.
infested cities sometime in the early industrial. Places like Raj Nagar projects of the NCR, the Raj
1980’s), today, the city stands as one Nagar Extension, after crossing nearly 2,185 hectares of land
Extension, Kavi Nagar, and
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Friday Property Info, Delhi, 29 October 2010 8
Published by: Fore Media Communication Pvt. Ltd., 68, Himalaya Apartment, Patparganj, New Delhi- 110092, Printed by: B.F. Pvt. Ltd., Patparganj, New Delhi- 110092 Editor: Mr. A.K. Suman,
