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Team iPropUnited

Team iPropUnited
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Noida-Greater Noida’s First Metro May Get Operative From December

noida first look aqua lineThe much awaited and known for the limca book of world records (for having most girders on a single metro line), the Noida –Greater Noida metro is expected to run by end of this year in December 2017. It will be just three months before the commissioning date in March. This is one of the very few good news for real estate after demonetization.

To be known as the ‘Aqua Line’, this metro line between Noida and Greater Noida has almost reached its finish line. As DMRC states, this line is the fastest metro line to be built in India in just less than two-and-a-half years which makes it eligible for another record!

This Aqua Line metro for Noida-Greater Noida route seems to be meant for records as it is also set out to make another record for being the most economical project of Metro in the country. The cost was originally estimated at 200 crores for every kilometer but the actual cost might just be around 150 crores for every kilometer. This amount seems extremely less in comparison to the Phase 3 metro which is estimated at 552 crores for every kilometer.

The reason for this difference in cost is said to be because of the ease in acquiring the land in this area which led to a fast pace construction of Aqua Line.

The real estate, which gets largely affected by the connectivity, is expected to see a boom after the running of this metro. Sadly, the realty market had experienced a major downfall after demonetization and this metro line can be a savior. When purchasing property, especially residential ones, people give a lot of significance to the connectivity of the place to important areas. This line is meant to remove all the reluctance in the minds of homebuyers related to the connectivity issue for the property market.

Co-Working Spaces Gain Popularity; Developers Follow

co-working spaceIn the recent times, start-ups have come up like a house-on-fire. With the help of government to make this country an entrepreneur-friendly, the demand for co-working spaces is bound to increase. And that is exactly what has happening in the current times. The prime forces for increasing this demand are the consultants and the freelancers of the modern globalized workforce. Across the metro cities, Delhi NCR being very prominent of them, co-working spaces are becoming favourites and very popular.

This global trend is catching up at a very high pace in the Delhi NCR region. The number of co-working spaces till last year was 30 which is expected to increase to 40 this year. Various micro-markets in the whole of NCR comprise of more than 2500 seats. The average occupancy till now has been about 70-75% which is likely to increase when the seat additions in the micro-markets will be leased out.

The range of number of co-working spaces in various regions is expected as below:
• 200-250 in Delhi’s Central Business District while 450-500 in Delhi’s Secondary Business District.
• 250-300 in Gurgaon’s Central Business District while 500-550 in its Secondary Business District.
• 400-450 in Noida’s Central and Secondary Business District combined.

Along with the metro cities, these co-working spaces are well-liked and preferred in tier 2 cities also. This is because co-working spaces provide extreme affordability in rents and flexibility in working options. They offer a complete office-like environment and ambience with desks and other essentials at cheaper rentals.

As seen, developers are also becoming keen to open up their very own co-working spaces by developing spaces or giving out of large floor spaces to different smaller occupants.
Going with the current scenario, the supply of co-working spaces is limited in NCR. Once the supply and situations is improved, the demand of co-working spaces will witness a boom.

The commercial real estate market is going to be substantially fragmented if facilities like this keep coming up in the country which makes things easier affordable for people.

 

A Re-Auction To Be Held By NDMC For A 3-Star Property In Janpath, Central Delhi

Hotel Asia International

The New Delhi Municipal Council is all set to re-auction its three star property situated in Janpath’s Lane (Central Delhi), which is Hotel Asia International. The place was auctioned two months before also, for an amount that was 15 times more than its lease value.

Even after the place going under the hammer at such a huge amount, a re-auction is going to be conducted as the bidder, selected in January, was unable to meet the terms and conditions.

A recent meeting of NDMC took place where the decision of re-auction took place along with the decisions of auctioning off the Taj Mansingh Hotel and cancelling the license of Le Meridian on account of failing to pay the dues.

The first auction of the property had derived Rs. 45.48 lakhs per month which in comparison to its lease amount was 15 times more. The earlier amount was just Rs.3 lakhs per month.
This 3-star property, Hotel Asia international had been sealed by the NDMC in February 2015 on account of non-payment of license fees which had reached up to Rs. 56 crores. Later, in June 2015 the NDMC took over the possession of the property when the orders of eviction were not abided by the hotel authorities after the expiry of the lease.

After a year of possession, the civic body of NDMC decided to auction off the property last year which was 612.4 square meters in area. The reserve price kept changing as the process took place.

Before re-auction of Hotel Asia International decision came up, it was said that it will be rented out for Request For Proposal (RFP) at 61.88 lakhs per month. However, this came down to 28.73 lakhs and even further decreased to 14.40 lakhs with no takers interested in this proposal.

Rent And EMI At The Same Time?

rent or EMIUntil and unless construction of a purchased residential property is completed, the homebuyer continues to stay in the rented accommodation till he can avail the benefit of house rent allowance. However, in such situations now, income tax laws say that the EMIs can also be availed by him.

There are scenarios where a person can also avail HRA when he owns a house for which he pays monthly installments and earns monthly rent from it by renting it out. But this advantage is usually availed when the place of job/employment is not nearby the owned property.

Many people face this situation while some people take up to unconscionable ways just to avail HRA. Now the next guest in such people’s home can be the taxman if they are not ready with some honest and authenticated explanations.

If we have a look at the advantages offered by the income tax laws we’ll see that certain exemptions are available regarding the HRA if the prescribed conditions are fulfilled. If the repayments are done for housing loans then also deductions are made available. If the repayment is done for the principal amount then the deduction will be allowed from gross total income while if the payment is for the interest, it will be deductible under the head income from house property. This gives us the overall total gross income. Going by the new income tax laws, these interest deductions are restricted at 2 lakhs for the property which is self-accommodated while laying no restrictions on the rented property.

But according to the recent Finance bill proposal, the loss from the house property shall be set off with any other income till 2 lakhs. And the amount left (if any) from being absorbed will be adjusted in future years by carrying it forward. This proposal of finance bill is expected to majorly affect the whole process of setting off and carrying forward pertaining to the interest income.

An essential aspect which is needed to be looked at is that the deductions for loan repayment is only allowed after the completion of the property. Repayment at an early stage (pre-construction stage) will result in total loss. But this is not applicable on the payment of interest during the pre-construction stage as it will be allowed as a deduction in five installments, once the property is constructed or possession is acquired.

Being able to claim the deductions for the rent and EMI at the same time will only rarely be beneficial in terms of taxes for the taxpayer.

Mutual Funds Schemes May Offer REITs, InvITs Investors15 Days Time For Exit

sebi

The Securities and Exchange Board of India (SEBI) recently notified regarding the norms for the mutual funds investments pertaining to Infrastructural Investment Trust (InvITs) and Real Estate Investment Trust (REITs). This move was initiated in anticipation of generation of more funds for the infrastructural projects and realty segment within country.

In series to this, another guideline has been issued by the SEBI stating that an exit option can be exercised within 15 days to all the unit holders who are investing in the Mutual Funds schemes investments in REITs and InvITs. The SEBI recently issued this circular to notify this important announcement and this is into force with an immediate effect. All the existing schemes which are intending to invest in InvITs and REITs shall get abided by these latest SEBI’s mutual funds norms.

An investment up to 5% of net asset value of a single issuer for alternative securities is only permitted under mutual fund. But alternative instruments by a single source of fund can enjoy a cap of 10%. However, industry/sector specific schemes and index fund are not required to comply with this investment cap.

This move is expected to bring in billions of US dollar by attracting investors to invest more and more into REITs and InvITs.

10 Inspiring Ideas To Decorate Your Living Room

topMake your living room more lively with few decor suggestions for living room. This is the place where you, together with your family, friends visitors will be chilling, watching television, entertaining your guests or carrying meaningful discussions. And it just helps if the place for doing so many activities is attractively decorated! It just adds up to the pleasure of even sitting there and doing nothing.

So, here are some easy decorating tips for living room to spice it up in all new way!

Brighten upBrighten upIt’s utterly important to drop old school ideas of the colour of the walls. White, being the most common of them, dulls up the entire feel. Go for bold colours like red or calming colours like blue for lively effect. This will also instantly attract your visitors!

Wallpapers are not just for mobiles and laptops!Wallpapers If you still haven’t gotten used to the idea of beautiful wallpapers on at least one wall of the living room , then it is high time my friends. Economical to buy, easy to maintain and lovely to look at, wallpapers are the most ‘in’ thing this season! Floral or geometric, 3d or abstract, buy them is various designs available and transform the look of your living room!

First step! carpetWhenever you enter a place, is it your foot that you set in first. And if that foot falls on a beautiful thing, the first impression is everlasting! Yes, you got that right! We are talking about the carpet! An impressive carpet in your living room can add up to the ambience giving it a vintage feel!

Do it yourself! old chair a new look by painting its frameIf you have always been creative with handmade things, this hack is just for you! do you have paint left from the last time you the changed the wall colours? Do not throw it away! Give the old chair a new look by painting its frame with this leftover paint! Bored of the curtains? Sew fancy trims on its edge and give it a makeover! You now know what creative things to do this weekend and you can thank us later!

Light, come here!light come hereNobody likes to sit in a dingy room with no light. To be very honest, it depresses you! So if maybe of late you were not feeling good in the living room, it may be because of the insufficient light. Therefore, it is very important to let the sunlight enter the living room to bring positivity in the environment. For this, remove those bulky fabric curtains and replace them with sheer curtains to maintain freshness in the living room.

Try New Printssofa colorIf you are bored with your sofa sets after every few days and want to change it? But obviously it is not feasible because of the high costs involved! Don’t you worry people, because we can solve this for you! Buy some eye-catching cushion designs of cushion cover like the zebra prints, polka dots or the floral prints and see your old boring sofa become young and lively!

Lamps are Life!Lamps are lifeIf you only buy lamps to light-up a place then you are highly mistaken my friends! Along with lighting up the place, they serve an equally important purpose of decorating that space. Buy beautiful lamps that will make a style statement even when they are switched off!

Mirror does the work! Mirror does the work!How many times has it happened that you walked into a showroom or a mall and instantly felt important and royal? Ever thought of the reason? This is because of so many mirrors present there. So give that royal feel to your living room by positioning big beautiful mirrors there!

Because Oxygen is Life!oxygenFor those who say they don’t love nature are purely lying! Everybody wants that fresh air of oxygen whenever possible to rejuvenate themselves. Along with this, plants are just plain beautiful! Place small pots of plants like money plant or jasmine plant or bamboo plants that bring luck too! these will make your living room beautiful giving it a fresh feel with oodles of positivity.

Time to clocks!Time to clocks!Yes we know you have mobile phones or expensive wrist watches to look at the time, but nothing can beat the feel of a big antique wall-clock in your living room! Hang a big old fashioned wall clock to tell the world that being digital is not always beautiful!

Live the way you wish in your home. Apply 10 inspiring ideas to decorate your living hall and see the change!

Why Noida’s Sector 150 Is A Place For Quality Living And Investment

sector 150 Noida

Lucrative projects Noida sector 150 are grabbing more of builders attention to invest in this sector. Moreover, With the various concessions renders to affordable housing segment in Union Budget 2017, Builders have now good reasons to launch projects under this category. The move was initiated to comply with ‘Housing to all’ and after a grant of infrastructural status to affordable housing segment, Builders are now launching various projects in micro-markets. Noida has always been on the radar of property buyers as well as investors due to the exceptional infrastructural developments and its vicinity to Delhi.

The primary reason for choosing such micro-markets is land prices here are quite affordable here thus launching affordable projects here are quite viable. Noida Sector 150 is one of such a promising destination, boasting superb connectivity with Faridabad and Greater Noida and soon a 45 metre wide road shall be open connecting Kalindi Kunj to Greater Noida.

Developed over 600 acres of land, Sector 150 has approximately 42 acres of park thus making the place 80% of green cover. The area shall also be connected to Noida- Greater Noida expressway. Yamuna Expressway and Hindon river are the two other prominent landmarks that fall in the vicinity of the region thus rending it better connectivity. The upcoming metro line from Pari Chowk to Delta Sector will not only drastically reduce the travelling time, also accelerate the property prices in its neighbourhood.

Secondly peculiarity about Noida Sector – 150 is its being first NCR area which shall be overhead wires free zone i.e. all the electric wires from telephone, power, internet etc is underwire through RCC ducts. This will make Sector 150 greenest sector in NCR. The region is also witnessing developments like sports city and international cricket stadium thus boosting great infrastructural developments in its neighbourhood.

The area also boost an array of civic utilities including education institutions of international repute, hospitals, shopping complexes etc thus making it a preffered location for the purpose of residence. Not just the affordable, Sector 150 has many luxurious residential developments by some of renowned developers.

Some of the commendable ongoing developments and projects in Noida Sector 150 are as follows:

  • Antriksh Golf City and Antriksh Golf Adress by Antriksh Group
  • Lotus Tulip Sports City by Lotus Greens
  • Logix Gracia by Logix Group
  • Elixir Windz by Elixir Infrastructure
  • Samridhi Luxuriya Avenue by Samridhi Realty Homes

This is the best time to invest in Noida Sector 150 as the place is expected to experience in upswing of prices due to its world-class facilities and numerous exceptional projects. As these projects are under-construction so the prices are relatively low. Once these projects shall get completed, the realty segment at Noida Sector 150 is likely to increase further.

While Noida already enjoying a good connectivity with the capital of the country, persistent efforts are laid to connecting it to the various other regions as well. From Integral townships to some of the exemplary residential projects as well as commercial developments, Sector 150 has all with it to facilitate its residents. Even as an investor, the prospects to invest at the place are quite bright.

Global Wealth Report: India At 6th In Wealthy Individual’s Growth 2016

India smart cityThe growth of wealth in India is accelerating rapidly at an increasing rate making India ahead of its global competitors. According to sources, India ranked at 6th in Ultra High Net Worth Individuals (UHNWI) and is expected to take up the 3rd position among 89 countries in the next decade.

If we go by the existing reports, India constitutes about 2% of the world’s total millionaires that is 264300 in number. Also, among the total number of billionaires of the world, 95 are Indians that is 5%.

India has greatly added to the number of UHNWI by 500 every year in the last ten years. And in the next decade it is expected to increase to 1000 new people adding every year. In just one year from 2015 to 2016 the UHNWIs increased by 12% with net worth of 30 million dollars. Looking at the growth rate, forecast says that the it will increase by 150% from 2016-2026.

As obvious, this increase will also have a impact on the real estate market. After demonetization, this market had seen a downfall but the wealthy Indians across the country are showing their priority in the office segment. The residential market will also witness an increase as 40% of the wealthy Indians are likely to invest there in the next two years.

According to a survey, it is estimated that 25% Indians are also willing to purchase properties overseas. This is because many Indians send their children abroad for further studies. This leads to buying of properties which is an investment also and at the same provides housing for their children also.

Delhi has the second highest number of UHNWIs with 680 with only Mumbai ahead of it with 1340. With such amounts of wealth creation, Delhi is expected to rise in the realty market in the coming years.

4 Kinds Of Lights For Your Pooja Room To Make It More Divine

    templeIndia has always been a very traditional country in every aspect we can think of! Our years old traditions come out in one way or the other in most of the things we do. Following these traditions, it is mandatory to have a temple (Pooja room) in your home, the most auspicious and divine place of your home, well-lit. But nowadays, modern designs of houses and the limited space have resulted in very small spaces left for Pooja rooms. Despite the size, what we cannot forget is the proper lighting.

    These are different lights that will beautifully light up the Pooja room and at the same will maintain the divine feeling –

    1. Panel Lights Are In!Panel lights are inGone are the days when only bright lights for pooja room were the trend People have come out and adopted new ways of lighting that are subtle and soothing to the eyes. One such method is panel lighting. Since these lights are covered, the light they emit out is soft and subtle which makes the entire place look very peaceful and divine. They can be fitted on the ceilings or in the backdrops.

    2. LEDs and Electric DiyasLEDs and electric diyasHaven’t electric diyas made the world an easier place to live? Of course, yes! No more wasting time on oil and battis to light up the diyas because electric diyas are here as the savior! Similarly, string of LED lights, (popularly known as china lights), have been dominating the market for quite some time now. They are easy to handle and use, beautiful to look at and the most importantly come at cheap prices! What more could you have ask for!

    3. SpotlightsSpotlightsIf you feel your holy Pooja room is so small that it looks like any other corner of the house, then these lights are just for you! They will make your pooja room glow with lights and stand out from other portions of the house. But make sure the lights are not very harsh in colour otherwise the divine and serene essence of the pooja room will be lost and it will give a ‘disco’ feel which will not serve the purpose!

    4. Natural SunlightNatural sunlightNatural version of anything is the best and same applies to the lights for temple in your home also. Sunlight is the best kind of light that a Pooja room can encounter! Windows can be created to let the sunlight in to bring purity and positivity in the Pooja room.

    DLF To Sell Off Its Stake To GIC To Repay The Debts

    DLFOne of the largest real estate companies of India, DLF is selling its stake to Government of Singapore Investment Corporation (GIC). 40% of the DLF Cyber City, which is the stake of DLF will be sold to GIC, Singapore in order to repay their debts. The company has a portfolio which is made of leased commercial assets, which includes the cyber city commercial complex in Gurgaon also.

    Both the parties will enter an agreement but the valuation of the same has not been revealed or disclosed by any source. The previous quarter’s balance sheet will play a major role deciding the valuation. The transaction is expected to take place in September so the valuation will depend upon the balance sheet of March or June quarter. All the money that will be raised after this transaction will be used to pay off the debts.

    In 2016, JP Morgan and Morgan Stanley were delegated to manage the stake of DLF to work on the leveraging of the balance sheet. Around 15 suitors had shown an interest in the stake along with GIC who beat the others given that it already enjoys a healthy relationship with DLF.

    26.8 million of commercial property is under and operated by DCCDL which makes them earn an annual rent of about 2300 crores, says the December data.
    This transaction, if successful, will decrease the debt to almost nil but still it DLF will have 60% stake in DCCDL but on a consolidated basis though.

    The company had a capitalization 27393 crores as it increased 2.06% and closed at 153.55 on 28th February on the Bombay Stock Exchange.

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