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Delhi-NCR home to artificial price appreciation

Pritam Yadav bought an apartment in Noida at Rs 3,000 per sq ft in an upcoming location three years back. The developer had then promised that the price will appreciate to no less than Rs 4,500 per sq feet within 18-24 months. It actually appreciated to Rs. 5000 within couple of years. However, circumstantial exit effort made him realise that the appreciation was only a castle in the air.

This doctor could not find any buyer at the appreciated price point. Forget Rs. 5000 sq feet price that the developer was advertising, he could not get any taker in the secondary market for even Rs. 4000 per sq feet. Even the developer refused to buy back at Rs. 1000 per sq feet lesser than what he h

Brand Rating SARE Olympia, SARE Homes, Gurgaon real estate, Sports theme housing, Indian real estate news, Real estate news India, Track2Realty Theme-based housing in India

SARE Olympia – 17 acre sports-themed housing

Olympia has been designed keeping in mind the fact that the presence and availability of playing spaces and active sports for children works wonders for their health and also sharpens their minds and personalities. With in-built privacy for families, ample play spaces for children, proximity to work, access to good healthcare and educational institutions, ‘Olympia’ is the perfect package for the entire family.

Beyond Headlines Property Registration, Leasehold Property, Freehold Property, Property laws in India, Property fraud, Track2Realty

Property re-sale procedure vague and prone to misuse

A homebuyer in Noida wished to sell his newly delivered apartment before the formal registry to the other party. As per the law, there is no transfer charge applicable since the said property has not been registered in the name of the first party itself and stamp duty is yet to be paid. However, he was taken by surprise when the builder asked for Rs. 2 lakh fee in the name of expenses with the Noida Authority.

The builders’ stand is that once the allotment letter is given to the buyers, he has to submit the list to the authority and henceforth there are expenses involved.

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