by Paul Joseph
August 4, 2011
Uncategorized
The lands in Noida and Greater Noida will make houses costlier in both cities. Out of 54 villages in Noida, 40 have been agitating for plots for years. So, more land is still required. There will be no land left for allotment to developers. Demand for land is ever increasing; land prices are bound to go up considerably. Apart from 10,000 odd farmers who are seeking developed land plots, about 4500 farmers in 11 villages of Noida, whose land was acquired before 1997 have also launched an agitation. The authority says in order to meet the demand the option of raising floor area ratio that allows construction of bulkier buildings. But this alone can’t solve the crisis. The land rates have to go up. In Greater Noida, the situation is different. Here, two court decisions have quashed forcible acquisition of about 750 hectares of land in two villages. Other villages have also moved court. The process of out-of-court settlement is on. If the farmers are paid more, land prices automatically will go up. If there is no out-of-court settlement, land has to be reacquired under the state’s new acquisition policy, which leaves less saleable land with the authority.
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by Paul Joseph
June 24, 2011
This may not be good news for investors, but it’s music to the ears of home buyers in the city. A reliable market research agency, Crisil Research, says that there will be 5% correction in the realty prices in Ahmedabad this year. A recent report released by Crisil Research, titled ‘Real(i)ty Next: Beyond the Top 10 Cities of India’, estimates a correction of 5% in real estate market of Ahmedabad. Crisil Research is an independent and integrated research house. The report, however, reveals that realty prices may rise by up to 10% in Vadodara while in Surat, a moderate rise is expected. The study finds that 10 smaller cities —Vadodara, Surat, Bhopal, Bhubaneswar, Coimbatore, Indore, Jaipur, Lucknow, Nagpur and Visakhapatnam — offer better price stability and demand growth. It foresees prices rising in seven of the smaller cities, including Vadodara and Surat. In contrast, prices are likely to increase only in four of the 10 large cities surveyed. Though the agency names these large cities _ Ahmedabad, Bengaluru, Chandigarh, Chennai, Hyderabad, Kochi, Kolkata, Mumbai, National Capital Region, and Pune, it does not specify in which of the four large cities the prices will rise. It, however, specifies that in Ahmedabad, the prices will fall.“In case of Ahmedabad, we are bearish,” Prasad Koparkar, head of Industry and Customised Research, Crisil Research, told DNA. It is pure economics, he said. “If prices are coming down, the supply is exceeding the demand. This year, we are expecting a correction of 5% in residential properties in Ahmedabad,” said Koparkar. According to Koparkar, local duties on transaction are one of the major hurdles for real estate in Ahmedabad. “As the state government has recently hiked the jantri rates, the demand is affected. We have forecast only for 2011-2012, in which the residential real estate market of Ahmedabad is expected to see a fall in the prices,” said Koparkar.
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