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Team iPropUnited

Team iPropUnited
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163 Expressions Of Interest For Sahara’s 30 Properties Across India, Including Noida

sahara-subrata-roySahara Groups advertisements across the country for selling off of 30 properties brought them 59 prospective buyers and 163 expressions of interest. Some of the properties by Sahara in the process of selling are available in Noida while others are spread in other parts of the country including Delhi, Pune, Lucknow, Indore and Chandigarh.

As per the group, they had advertised about the Sahara’s properties sell out two times and to their surprise they have received such response against advertisements. The deals for selling of the houses to the prospective buyers are in process, confirms the Sahara Group.

Adding to this, they also confirmed that buyers’ details have already been submitted to the court but they wish to keep names undisclosed in public.

Meanwhile, Sahara’s Aamby Valley project in Mumbai has been instructed to begin with the selling procedure by the Supreme Court. The Mumbai High Court will be selling of the later project against Rs. 37,000 Crore dues towards SEBI (Securities and Exchange Board of India).

Subrata Roy, the group chairman of Sahara is strictly directed to appear in the court personally in order to clarify the reason for the failure of the payment despite the fact that he was out on bail for last 1 year. Roy had pleaded the court for the bail for his mother’s death and at the same time he also told the court that he would not be able to arrange for the money if he continues to remain in jail. And thus, the bail was granted to him.

So far, Sahara has cleared merely Rs. 10,000 crore dues towards SEBI and the rest of the dues, as offered by Roy, are most likely to be paid by the end of 2018. However, the offer was rejected by the court.

You Have No Idea How These 4 Simple Ways Can Remodel Your Home Easily!

remodel home decor
There are so many times when you look around the house and want to bring some modifications in the house. But then you think about the money and drop the idea. And that is exactly where you are totally wrong. It is a complete myth that remodeling and modifying your house will burn a hole in your pocket! You definitely do not need to spend a fortune of your money to give a make-over to any room. You can easily enjoy a new look by just adopting some inexpensive and small changes which you had not considered before.
Just follow these simple ways to remodel your house in the best and easiest way possible –

1. Say bye to monotonous walls!No monotonous wallIf you have walls that appear dull and boring, then please add some excitement to them. And there are no rules and norms to follow. Just fill the walls with whatever you adore or have a fetish for. It can be anything from artwork to funky photo frames to photo collages to even murals. You can arrange them in an organized manner or even in a haphazard manner which will add a really trendy look to the wall. Just let your creativity come out and do wonders!

2. Shelves should be added! shelves at homeWe have always considered using shelves to make our house look organized and methodical. But we keep very limited things on shelves which we have been seeing our ancestors keep. But now as the modern designs have taken over the world, shelves have a great role to play in it. So, buy more stylish shelves, whether colourful to match your other items of home décor or simple wooden or even antique and see what difference (in a positive way of course) it can bring to your house! You can keeps books, trophies and so many other things and maybe even flaunt your collection of various items.

3. Bright curtains and bed-sheets curtains and bedsheetsGone are the days when people only used to go for light and subtle colours for bedspreads and upholstery. But as bright colours are catching up the trend in almost everything, bedspreads and upholstery are also not left behind! Just swap your existing dull colours with bright and vibrant colours to add excitement in your life. You can be very experimentative with the wallpapers which have also become extremely popular nowadays.

4. Storing is the key pink boxJust as we talked about the shelves, same goes for boxes of storage also. Bring colourful boxes in different sizes, which can be hand-made or even beautifully crafted and store things which make the room look messy in those boxes. Apart from removing the clutter from home, they will add freshness and a childlike charm. If you want to be creative, then you can start painting them yourself. Just look for boxes which you have been considering waste till now and grab some acrylic colours. Let your creativity get the best of you!

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Unitech Asked To Submit ‘Home’ Details To Noida Authority

noida authority Unitech has been seriously lashed out by the Noida Authority recently. Unitech has been instructed by the Noida Authority to prepare an audit report which has to be submitted along with the completion schedule of all the towers in its residential project named Unitech Homes in Noida. These details of homes by Unitech have to be given by 5th May. This crucial decision was taken after a meeting which was held between the homebuyers and the developers.

According to the sources, Unitech has willfully agreed to give the information regarding the completion schedule of all the towers and also the audit report. These home details by Unitech will then be shared with the homebuyers who have been waiting for the delivery of the flats since 2012.

Apart from these details of homes by Unitech, they will also have to prepare a monetary plan showing how they are going to finish the construction of the towers with their financial resources. They will have to show the records of how much money it has taken from the homebuyers and how much of it has been actually used for the construction of the project. By doing this, the accusation of buyers, that their money has been used for various other projects, can be actually checked.

The buyers have also accused the developers of misbehavior and harassment. According to them, they are not treated properly by bouncers hired by the developers.

The developer of Unitech has also been asked by the Noida Authority to conduct a meeting with the agitated buyers as they have been constantly asking for penalty for the delay or a refund of their money. This meeting will be held on 23rd of April.

As per the sources, the size of the land allotted to Unitech was 2.88 lakh square meters in the year 2007. After 2009, the builder has been at default for almost all the installments. Out of the total of Rs.900 crore that has t to be paid to the Authority, only Rs.226 crore have been paid.

Unitech has confirmed the meeting with the homebuyers. They will look into the issues of the homebuyers on 23rd april whereas, all the issues of the Noida Authority will be looked into before 5th May.

Jaypee Group Will Have To Pay For 1000 Hectares Land

jaypee groupThe Jaypee Group has been instructed by the Yamuna Expressway Development Authority to pay the outstanding amount of Rs.600 crores by August 2017. Jaypee Group has to pay Rs.600 crore against the land of 1000 hectares allotted to the company.

Initially, Jaypee Group was instructed by the Yamuna Expressway Authority to pay at least 15% of the total amount i.e. Rs. 600 crore by 15th April. However, the date has been extended by a month to 15th May now.

Jaypee Group’s Rs.600 crore dues is very strictly being considered. They have been given time till August this year to pay the entire amount.

In the Jaypee Group Case, the developers were only able to pay Rs.10 crore against the 15% of Rs.600 crore which came out to be Rs.90 crore. They had requested for a time-period of four months to pay all the remaining dues.

Apart from the Jaypee Group Case, the Yamuna Expressway Authority also has few same cases of different developers who have to pay their dues. Letters have been issued to them to pay at least 15% of the amount.

To get rid of the debt, Jaypee Group had sold off some of its assets. The move may help the developers to reduce the burden of debt which has reached a very high amount.

17 Housing Projects Cancelled By Yamuna Expressway Authority

yamuna expresswayYamuna Expressway Industrial Development Authority has announced that it has cancelled the construction of 17 housing projects at Yamuna Expressway. This action of cancellation of housing projects at Yamuna Expressway was taken after it was revealed that a few builders were not able to get rid of the objections that were raised by the Authority. The cancelled housing projects at Yamuna Expressway include 11 projects by Jaypee Group and the rest are also by some reputed developers.

The land which Jaypee Group had was given to it for the project of Yamuna Expressway project with a legal agreement. Various other builders have also been given land for Yamuna Expressway housing projects.

The builders were given the permission to develop residential units in some areas, while commercial units in other areas. The plan of layout of 11 projects was given a green signal by the Authority, but the planning department had some complaints regarding the building plan of various projects. The developers were supposed to take care of these complaints and submit the plans again. However, they failed to do so and the cancellation of housing projects at Yamuna Expressway took place.

If we look at the remaining developers (out of the 17 cancelled ones) and their Yamuna Expressway housing projects which are cancelled, the problem remained the same. They were also at default in rectifying the complaints.

Specialized Cell For Homebuyers In Noida To Be Formed Soon

noidaThe chief executive officer of Noida Authority has announced that an idea of forming a specialized cell for homebuyers is being pondered over. This specialized cell for homebuyers in Noida will give all the legal information to the homebuyer about the realty project.

The main motive of this special cell for homebuyers in Noida will be to give out all the important details and information to the homebuyer, about the particular realty project he is investing in. The cell will act as a savior to the homebuyers who are deceived or duped by developers who are involved in the construction of illegal housing projects in Noida.

This specialized cell for homebuyers in Noida is badly required as there are various realtors who take up illegal housing projects in Noida, unaccompanied by the important approvals from authorities. And when the Noida Authority finally takes the action of demolishing the project, it is the homebuyers who have to suffer and bear the consequences.

The Noida Authority will charge a nominal fee from the homebuyers who want a proper inquiry about a particular project to know about its credibility.

Ironically, the homebuyers are questioning even the coming up of these illegal housing projects in Noida. According to them, they should not be given the permission in the first place, rather than taking action when the project is almost complete. The authority should make sure that if the project is illegal it should be stopped immediately.

Around 80 housing projects in Noida are swinging mid-way because of many reasons which also includes the scarcity of funds. The cell will inform the buyer if the project he is investing in is stuck in between or not and also whether it has dues pending on it.

There is no particular date decided for the formation of this special cell for homebuyers in Noida, but it is expected to be executed soon. As per the orders from the new Chief Minister, Yogi Adityanath, credibility and transparency should be focused on in all the public departments which is bound to improve the welfare of the people.

Why The Loan Tenure Should Be Chosen Very Wisely?

LoanA very significant element to be considered and kept in mind when availing a loan is the loan tenure. This is because loan tenure actually impacts and decides the amount that you will have to pay as interest on the entire loan.

What exactly is loan tenure? It is simply the time period in which you decide to pay back the loan and its interest. When people avail a home loan, they usually take it on a long term and they have to Equated Monthly Installments (EMI). But what decides the amount of these EMIs? It is the loan tenure and the principal amount of the loan.

Given the fact that home loans are for a long tenure, owing to their high amounts, the decision of loan amount and its tenure should be made with a rational, reasonable and logical approach. All this is regardless of the schemes offered by the banks.

Make your decisions keeping the following basis in mind –
• Repayment potential ‘
• Actual Requirement or need
• The capacity to fulfill the needs of the loan during the tenure
• Resources available

If you choose a longer tenure, then it will result in EMIs of lower amount, paying which becomes a little easier. A longer home loan tenure will also raise the cost of the loan, since the interest too will be paid for a longer time. You will have to peek into the future to look for the financial sources that will be available to you, when you choose the loan tenure.

Prepare a cash flow statement that covers and approximately analyzes all the payments that you will make and also your income, for the coming few years. You have to keep in mind that your income may increase over the years and that should also be considered while preparing the cash flow statement.

The perfect tenure would be when the person is paying all the EMIs timely and without any default or delay. The EMI computed based on tenure of the loan should have some margin so that no problems are faced even if the interest rates increase in the future.

Capital Funds Of Rs.1800 Crore Received By Jaypee For Wishtown Construction

jaypeeJaypee Infratech has announced that the construction at Jaypee Wishtown Noida will start in a week’s time. The construction is restarting because Jaypee Infratech has been able to receive working capital which amounts to Rs.1800 crore from banks.

The construction at Jaypee Wishtown Noida was at a halt with the developers only being able to deliver 5500 flats out of the total 32000 flats.

But the chairman of Jaypee Associates has calmed down the aggressive homebuyers by claiming that the construction for 50 towers will restart by 24th April while on the remaining 70 by 29th April. The society has a total of 305 towers, out of which 250 are incomplete.

The working capital funds given by the banks will help the developers to quickly restart the work on the construction site. And since the project is based on a construction linked building layout, the homebuyers will start giving money once the construction will start.

The total amount which is needed to construct the entire project is Rs.9000 crore. This huge difference will be covered by selling flats after their construction is completed.

The developers of Jaypee Wishtown have admitted to not meeting the homebuyers’ expectations but now as they have the working capital from banks in their hands, they are all set to gain the confidence of homebuyers.

The developers have promised to deliver 6000 flats by March 2018, 8000 flats by 2018-19, while by 2020 the remaining ones will be handed over.

The developers of Jaypee Wishtown are expecting a progress in the cash flow of the company after the construction which will ultimately help in the speedy completion of the project.

Plan Of Airport At Jewar To Be Executed Soon

airportAfter the BJP government has given a thumbs up to take ahead the project of Jewar airport on Yamuna Expressway, the several segments in the state of Uttar Pradesh have come forward to execute the procedure of the project.

The estimated size of the needed land for Jewar airport on Yamuna Expressway is 3000 acres will take around 6 months to get acquired, once the project is approved by the central government.

Yamuna expressway development authority (YEIDA) claims that it will expedite the project in just three years after the green signal from the central government. While waiting for the approval, YEIDA is also seeking permission to build the airport at Jewar from the Union Civil Aviation Ministry.

It was assumed that there will be a clause of no airport in the 150 km proximity of the existing airport but that has been eliminated in the latest policy of aviation.

Airport at Jewar is expected to fuel up the development situations in Greater Noida, Noida, Yamuna Expressway, Ghaziabad and East Delhi. The development of Jewar airport on Yamuna Expressway will also give way to enormous office spaces in the entire area.

The idea of airport at Jewar was initially brought into the picture in 2001 by Rajnath Singh. But because of the earlier policy and norm of not having enough distance between the Jewar airport and IGI airport, the idea was not able to get executed by the central government.

But the new Chief Minister of Uttar Pradesh, Yogi Adityanath, has revived the idea and is working to develop the airport in Jewar. The central government also seems to be in favour of the idea. The project is expected to get expedited speedily as construction of an airport is bound to pull vast investments in the Noida, Greater Noida and Yamuna Expressway markets.

Apart from the investment perspective, development of an airport at Jewar will also give huge employment opportunities to people.

The amenities like railway stations, airport, metro etc. increase the value of any area in a greater way than the other minimal facilities like public transport. And as a result, development of an airport at Jewar will be followed by an enhanced demand in the real estate sector, which has been facing a slump since the last few years.

Liberal Inflation Rates To Help Housing Sector To Recover

houseInflation rates do affect the real estate market. The usual myth around the industry is that if the capital values are escalated, the housing demand increases, which is totally false. The most important factor that enhances housing demand is affordability. The alliance of housing affordability and housing demand has shown a very strong relation between the two in the top cities of India.

Whenever the level of affordability of houses has increased, the demand has also witnessed a substantial rise within a certain time period, if not then and there. But in the recent past, an exception was seen. Let’s have a look at the factors behind it –

Before the elections of 2014 were held, there were apprehensions regarding the growth of the realty market in India which gave way to a downfall of the property investment demand. But the situations has transformed now as India has become really likeable for investment purposes. Real estate in India is also playing a major role in capital flows entering India.

After the elections of 2014 took place, the government kept stressing on increasing the affordable homes for people which made people aware that prices will decrease. Developers are making efforts to increase the supply of affordable homes. On the other hand, the purchasing power in the hands of people has also increased because of the rise in incomes. And with government and developers taking various measures to win back the homebuyers confidence, the purchasing power has just enhanced.

The implementation of RERA has made homebuyers to trust the judicial system to support them in times of crisis. A decrease in inflation is also bound to pump confidence in the minds of homebuyers. This is because inflation has a very significant role to play when people decide to borrow funds to buy a house. As inflation also represents the country’s economy, it boosts consumers’ trust.

The demand for housing and the inflation rate are inversely proportional to each other. As the forecasters predict, the inflation is expected to remain in a comfortable zone at 4%-6%.

Therefore, all these factors including increasing affordable housing, rise in purchasing power as well as liberal inflation will contribute greatly, to help the housing sector to recover.

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