Contrary to the general perception that the eco system is getting tougher for the builders due to home buyers’ activism, vigilante media and judicial intervention, the facts suggest that the developers have been given too long ropes to cross the bridge over the buyers’ interests. As a matter of fact, there are many instances of amnesty to the developers in the last few years.
Ashiana Housing has been among the first to spot the potential of the town and move into Bhiwadi market. Its Joint Managing Director, Ankur Gupta agrees that when the promises of major infrastructure like roads, transportation, water, sewage facilities and education facilities are provided, the real growth of Bhiwadi is inevitable. Retail and commercial projects like Village Center, Angan Plaza are already there and many more landmark developments are also coming up.
The National Green Tribunal (NGT) refused to lift the ban on dumping of garbage at Sector 138A of Noida and asked the Noida Authority to prepare a plan for shifting of the illegal dump yard to the site earmarked for the purpose.
In its reply to the National Green Tribunal (NGT) in the case filed by journalist Gaurav Chaudhary & others, the Noida Authority urges the NGT to let it allow unauthorized dumping the garbage in sector 138.
The residents of a housing society, Supertech Emerald Court, in Noida were taken aback one fine morning when they found the office of facility management locked. The builder had left the maintenance overnight after having tussle with the Residents’ Welfare Association (RWA) for quite some time over the maintenance, or rather the lack of it. The residents alleged that the builder had left them in the lurch as it was not a proper handover of maintenance to the RWA.
The 30th-floor single level unit of the new Four Seasons Private Residences at Embassy ONE has been sold for a record-breaking INR 50 crores, the highest price ever fetched for a branded residence in South India.
Coercing the buyers at the project Victoryone Central in Noida Extension to pay arbitrary demands, the builder is flouting all business ethics, established market norms and his own one-sided Builder Buyer Agreement (BBA).
When Gaurav Choudhury, a journalist by profession, bought an apartment in Noida Sector 137 along Noida-Greater Noida Expressway, he was confident to invest in an organized property market where the master plan being rolled out by the Noida Authority could tell him about the present and future developments.
There is a growing debate within the realm of second home market as to what is the psychograph of the buyer. Whether they actually go for affordability or location or amenities, or all these factors collectively drive the second home buyers. These are the emerging market realities and till recently the property investment pattern across the country in general and Mumbai in particular suggested that there existed a symbiotic relation between the second home and an affordable home.
Secondary market attracts a significant number of transactions and as per a rough estimate nearly two third home buyers get an apartment in the secondary market.