Budget 2013 – No proposal to benefit Real Estate

Yesterday was a big day as Finance Minister P.Chidambaram presented the much awaited Union Budget 2013-14 in the Parliament. As everyone was speculating, for some the budget brought cheer but for others there was nothing much in it.

If we talk specifically of real estate then too there was disappointment from the budget (except the tax exemption on home loans).

Finance Minister did not propose any beneficial proposal for the real estate sector. Moreover the buyers were disappointed with FM for implementing tax deduction at source on transfer of property (land/ building) for transaction in excess of Rs 50 lakh. As this will result in increasing the burden and will up the price of high end housing.

Adding more to the dilemma the sector was hoping for the 'infrastructure status' which was not given to it, ultimately letting down the expectations of Indian real estate sector.

Read More

Yamuna Expressway - The expressway to the future

Courtesy: Buddha Circuit

Read More

Budget 2013: Include land, building cost in capital expenditure, suggests NAREDCO

NEW DELHI: The countdown for the Union Budget 2013 has finally begun. This time NAREDCO (National Real Estate Development Council) has asked for special provisions (like inclusion of cost of land and building construction in the capital expenditure in Budget 2013) from the Finance Minister P.Chidambaram.

According to NAREDCO – “section 35AD sub-section (5)(ac) & (5)(ad) of Income Tax Act impose deduction of capital expenditure incurred wholly and exclusively for developing and building a housing project under a scheme for slum development or rehabilitation or affordable housing framed by Central or State Government and notified in accordance with the guidelines prescribed is allowed”.

"Definition of capital expenditure does not include land cost and building construction cost or any other significant investment in the project. As a result, developer of slum redevelopment/rehabilitation and affordable housing does not get any major advantage as far as the income tax concession is concerned," NAREDCO added.

To solve the issue NARDECO suggested that it would be wise to make the cost of land and building construction cost a part of capital expenditure so that the developers can enjoy some benefits.

Courtesy: economictimes article

Read More

Gear up for the Asian Cycling Championship at Buddha International Circuit

More than 700 cyclists from world over including Guo Shuang the London Olympics winner will be participating in the Hero Cycles 33rd Senior and 20th Junior Asian Cycling Championship. The championship will begin from March 7 to 17 at Buddh International Circuit Noida.

Along with Shuang (who is from China), Azizulhasni Awang (2010 World Championship silver medalist ) of Malaysia and Mehdi Sohrabi (2 times Asia tour leader) of Iran will also be participating in the event that will be hosted by Cycling Federation of India (CFI).

IG (Indira Gandhi) stadium is getting ready for the track events that will be held from 7^th to 11^th March. While Buddha International Circuit (F1 Tracks) will host the road races that will begin from 13^th March and will end on 17^th March. This event will be first of its kind in the cycling history of India.

What is more exciting is that, this cycling event will kick start the qualification process for the Rio de Janeiro Olympics 2016.

"The event is important for Indian cyclists who can use this as a platform to perform well at the international level. It is a huge opportunity for India as we can use this event to bid for the biggest tournaments in Cycling like the World Championships," said CFI President Parminder Singh Dhindsa.

"The team has qualified for the World championship, currently being held at Minsk (Belarus), for only the second time and I have no doubt that Indians would perform well in the continental meet," added Dhindsa, who is also the chairman of organizing committee of Asian Championship 2013. (Source of interview – NDTV.com).

So gear up all the sports lovers as this March Jaypee Greens F1 tracks has something extra to offer to you all.

Read More

Gain profits with Jaypee Sunnyvale plots on Yamuna Expressway

Located on the 15.7 km long central boulevard and covered with a green natural cover, Jaypee Sunnyvale plots on Yamuna Expressway is the latest addition to the long list of residential projects of this group. Located in the Heritage District of Jaypee Sports City, Sunnyvale homes is an ideal destination to own a dream house.

Sunnyvale Jaypee plots on Yamuna Expressway are available in various sizes starting from 128 Sq meters to 200 Sq meters. Make your pick according to your budget and requirement and get early possession, in only 18 months.

If we talk specifically of the amenities that one can avail here, then Jaypee Sunnyvale homes scores a perfect ten in it. Enjoy a joyous life at Sunnyvale filled with complete luxury and elegant living. Enjoy the eco-friendly fresh environment. Take an evening stroll in the lush green parks to enjoy fresh air. If you love sports, then Jaypee Sunnyvale homes have plenty of options to offer you. Right from tennis and badminton courts to table tennis and squash courts you will find them all here. Want more? Well you will also have a world-class F1 racing track and ICC stadium situated nearby.

The infrastructure at Jaypee plots on Yamuna Expressway is also of high level matching international standards. From multi-specialty hospitals to high level educational centers you will get them all here. In the coming times, the entire project will develop into a modern day integrated township giving stiff competition to international societies.

All this and more also add to the investment value of Jaypee Sunnyvale plots, making it a hotspot for property investment in the year 2013. 

Read More

Buying plots is a popular option in Delhi-NCR

Living is an independent house is always considered a better option than living in a flat or an apartment. Imagine a small garden in your backyard with lots of flowers and you sitting beside them enjoying the fragrance and the sunlight, this fun is only possible in an independent house. If you also dream of owning an independent house at the best location of Delhi-NCR, then it is the right time to do so. As freehold plots on Yamuna Expressway and Noida Extension has gained much popularity in the recent times.

Residential plots here are a part of the center development design and the ultra-modern infrastructure add more to its advantage. From educational institutes like schools, colleges to health institutes like multi-specialty hospitals along with shopping arcades, social and business centers and open green spaces all in together make residential plots on Yamuna Expressway and Noida Extension a hot topic in the Delhi-NCR realty market. Further factors like connectivity, transport network, intended townships in the neighborhood, infrastructure development, ease of access to amenities etc have doubled the investment in residential plots in just a few years.

One of the most prominent projects in this league would be Jaypee Greens luxury residential plots Sunnyvale. Located in the Heritage District of Jaypee Sports City, Jaypee Sunnyvale plots on Yamuna Expressway has definitely attracted the interest of investors and home buyers.

So go ahead and buy a residential plot in Delhi-NCR and make your dream house on it and live your life in complete ease and luxury.

Read More

12,000 New Affordable Flats to come up at Greater Noida-Yamuna Expressway

If you were waiting for an affordable house to buy in Greater Noida and Yamuna Expressway, than your wait might get over soon. Government authorities have allotted land for building almost 12,000 affordable flats along the Yamuna Expressway and Greater Noida in coming 2 years.

Going according to the figures approx. 7000 flats will be built in Greater Noida and approx. 5000 flats on Yamuna Expressway. According to a Senior Official “We have identified Sector Mu-2 and Sector 10 in Greater Noida for the project while in Yamuna Expressway, the flats will be developed in sector 18”.

Unlike other projects Government authorities are too serious about this particular one. It can be figured out from the fact that on ’11 January the land was earmarked and approved in the board meeting and in just 13 days the layout plan for the entire project was approved by the authorities’.

Talking of the special features of these flats, the Officials said “These will be one-bedroom units and four storeys high. The blocks will be spread on a campus equipped with state-of-the-art infrastructure including a community center, shopping complex, kiosks, schools, nursing homes, playground and parks”. Adding further he said “There will be no need of painting the building. Keeping the increasing number of vehicles in the city, there is also a provision of garages in the project”.

The entire project will cost approx. Rs 150 crore and each flat will be priced at Rs 6.5 lakh to 8 lakh. The buyers need not to worry about loans also as most of the banks are ready to sanction almost 90% of the total cost. So start preparing to own a dream house and that too at a very affordable price.

News Courtesy – Times of India

Read More