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Team iPropUnited

Team iPropUnited
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Noida, Greater Noida To Get Automatic Air Monitoring Systems Soon

air monitoring systemTo everybody’s relief in Gautam Budha Nagar, four air monitoring stations will be installed by Uttar Pradesh Pollution Control Board and the first one will be set up on Noida. In about next 15 days the system is expected to get installed in NCR. The other three will be set up in Greater Noida in the near future.

These air monitoring stations are following the guidelines of the Centre for their set up. The financial cost for these air monitoring stations will be equally divided by the state and the central agencies. The budget decided for installation for these stations is Rs.5 crores.

Centre and the state government, both have the responsibility to set up more air monitoring stations to keep check on the pollution levels and update about the same to the public.
The first air monitoring station of Noida is going to be set up in the Amity University, sector 126 by the UPPCB and the centre. This way the residents will be constantly updated about the pollution levels of the surroundings.

The two already existing air monitoring stations, situated in sectors 1 and sector 6, work on the manual system, therefore the residents remain unaware of the updates of pollution level. Also, they are able to cover only 30% of the area in Noida.

Although the quality of air in the NCR remains an issue to be constantly looked into, Noida still doesn’t have even a single automatic air monitoring machine installed by UPPCB. Since, every calculation is done manually, it takes up a lot of time to complete the report.

Located in sector 62, the system of air quality and weather forecasting and research (safar), obtains its funding from the centre. But the main drawback is that it provides data for only those sectors which are situated off the NH 24.

The level of pollution is always a matter of concern in the NCR because of its increasing levels but Greater Noida is still deprived of any kind air monitoring system, be it automatic or even manual. Due to this people do not get the information regarding the intensity of pollution and hence are not able to take precautions accordingly.

The automatic air monitoring system is designed to provide data on 12 parameters which are the cause of pollution such as NO2, CO2 etc.

The high level of pollution in Noida is caused by the various on-going construction projects, 7000 industrial units and six sewage treatment plants.

Top 5 Ready To Move 4BHK Flats In Faridabad Between 75Lakh-1Crore

Omaxe Spa Village
Source:PropertyWala.com

Main reason for the realty developments in Faridabad is the business activities across different locations of this NCR and the ever improving education standards and thus, making it a property hotspot. This place also has some extensive recreational facilities constituting of movie theatres, food joints, and music institutes thus, elevating the demand for more housing options. Below are the top 5 ready to move 4BHK residential properties in Faridabad between 75 lakhs and 1 crores in Faridabad that are skilfully designed to provide lavish livings to its residents:

Omaxe Heights, Sector 86, Faridabad
Omaxe Heights
Just 4 kms from Mathura Road, these ready to move apartments in Faridabad by Omaxe Group was completed in July 2016. Earthquake resistant RCC frame structure makes this project extremely safe for residential purposes. These plush 4 BHK housing options will surely steal your heart with world class amenities and posh status quo. Private balconies are provided with every apartment with picturesque set up of resort like landscaping.

BPTP Park Grandeura, Sector 8, Faridabad
BPTP Park Grandeura
With in-house services like School and Grocery Shop, this exquisite residential property by BPTP group offers lavish 4 BHK apartments with the host of world-class amenities. Situated in a well-developed sector with close vicinity to all the civic utilities, this luxurious residential project located at Sector 82, Faridabad. BPTP builders have achieved expertise in delivering brilliant residential and commercial projects in Delhi-NCR.

Omaxe Spa Village, Sector 78, Faridabad

Omaxe Spa Village
Source:PropertyWala.com

With 4 towers accommodating 274 residential apartments, this elite project by Omaxe Group is vaastu compliant with in-house services like Cafeteria, Restaurant, Laundry, Automated Car Wash, Shopping Centre and Library. Separate servant quarters are allotted with beautifully crafted floor plans. Decorative lights in all rooms inclusive of living/ dining area make houses here enticing.

Puri VIP Floors, Sector 19, Faridabad
Puri VIP Floors
These astounding ready-to-move apartments are just 500 m away from affluent sector like Sec – 14. It is a great choice for the buyers as it is a perfect blend of beauty and modern amenities and proximity to several prestigious gated communities, schools and shopping malls. Located at one of the prime residential destination in Faridabad, this ready to move 4BHK flats offer splendid livings to its residents.

Omaxe Green Valley, Sector 42, Faridabad
Omaxe Green Valley
Spacious and well-ventilated housing options here are designed to facilitate perfect living conditions with optimum light and privacy. Coupled with fresh and green surroundings, each apartment brings the joy of unhindered living. These ready to move flats in Faridabad is spread across 25 acres of land and has in-house services like Cafeteria and ATM.

Standard or luxury living can be acquired within your budget at these residential properties in Faridabad.

Disclaimer:
All the details provided in the article are according to the results obtained as per a team research and the data provided by the builders from their old records. Rankings as mentioned in the article is based on information obtained from the builders and a research carried out by the team, and is subjected to vary as per different views. We hold no account for any change in information or deal of the property from what it is mentioned in this article at the time of visit or purchase. It is highly advised to have a check over the documents required to buy a property in NCR as any cancellation of the deal due to documents is not our responsibility. And that the article is merely an indication towards nice and affordable properties while actual properties may be different from what it is mentioned in the article and these are not to compel anyone to buy the mentioned properties. Lastly, none of the associates and partners of NCRGuru is liable for any type of misunderstanding or misjudgement towards properties mentioned in the article.

Sahara To Sell Off Greater Noida’s Formula 1 Share

formula one racing
In order to ensure freedom to Sahara Chairman Subrata Roy, the Sahara Group is expected to sell off properties in several cities besides its stake in Greater Noida’s Formula One racing team. All these stakes are estimated at a value of Rs. 6000 crores. The amount collected on account of sale shall be then deposited to the court on account of penalty levied on Sahara Group due to illegal Scheme launched by it.

In 2014, Roy was arrested and sent to Jail as he was not able to pay a penalty of Rs 24,700 crores as levied by Securities and Exchange Board of India (SEBI) on account of two illegal schemes launched by Sahara group and the same amount is required to be disbursed among its investors. The group has already disposed off its 16 properties across country and deposited Rs. 12000 crores with SEBI. The next hearing date is scheduled for April and the Group is expected to deposit another large tranche by then. Sahara Counsel, Kapil Sibal even offered to pay the balance of arrears within 22 months instead of 33 months which was soughed by the Group initially.

A bench comprising Justices A K Sikri, Dipak Misra and Ranjan Gogoi was reluctant in providing such a long duration in context to the repayment of arrears and probed Sibal that why the Group is seeking so much time to dispose-off properties. With the host of properties on list at various cities, the bench asked Sahara Group to raise another Rs. 1536 crore by selling off these properties. But the group expressed its inability to commit the specified amount on account of sale of these properties as the real estate segment is unstable post-demonetization.

After being in Jail for 2 years, Roy was released on parole last year to attend the funeral of his mother. Since then the court has put a pressure on the Roy that he shall sent back to jail if he will not pay off all its dues within a reasonable time.

Selling off a share in Formula 1 racing track in Greater Noida seems imperative for Subrata Roy.

REITs – A Ladder For Real Estate After Demonetization

REITs

As demonetization took place, real estate came into the loop when PM Narendra Modi had called upon note ban on November 8, 2017. In fact, it was one of the most affected sectors of the Indian economy which is still facing huge liquidity crunch. But, what is the best way to come out of this cash crisis? It is the Real Estate Investment Trusts (REITs) which can greatly help the real estate sector in coping up with the liquidity crunch.

REITs are like substitute elements for real estate investment which gives investors a chance to invest in realty sector. REITs basically manage assets which they have in their portfolio and work similarly in the way as stock markets. Here, the realty investors play the role of shareholders. In 2014, the government had dispatched the guidelines to execute and facilitate the launch of first REIT.

Working of REITs
REITs fundamental working principle is the raising of funds and investing them. They raise funds from the willing investors and invest this money in the different real estate properties. There are two ways to invest this money – directly or by a special purpose vehicle (SPV). If the investment is done through the SPV, it is supposed to hold not less than 50% in equity. And in the REITs assets, SPV should hold 80% equity. The minimum number of requirement of subscribers to form REITs is 200 (related parties excluded). Also, in the initial offer, the minimum public share should always be more than 25% of the total number of units of the REITs.

The Beneficiaries
Both kinds of investors- institutional and retail find REITs very alluring. Investors see REITs as a great way for constant flowing current income at the same time an option for long-term growth.
As per the experts, REITs have huge growth opportunities in India. Though it yields just mediocre returns but the fact that it is relatively safe makes it a sought-after option among investors. REITs are expected to attract a huge amount of retail investors who previously could not do so because of various reasons.

High level of involvement is predicted as the minimum amount of investment is just Rs. 2Lakhs.

REITs will be providing new ways to face the cash crunch prevailing in the real estate market. They will also provide guidance to adjust the leveraging of the companies. Ambitious investors who even only want to expand their investments in real estate will also find REITs interesting.

Reduction In Tax Rates – Blessing For Homebuyers

HomebuyersThe reduction in income tax rate will give you a chance to save a part of your income and prepay a part of home loan. This pre-payment will reduce the interest cost and also the overall term of the loan.

As per the new decision of the Finance Minister in the budget, the income tax rate is reduced to 5% from 10% for the slab of 2.5 lakhs-5 lakhs. With this decision, now various professionals will be able to save their money on taxes. Also, as many people have been using the tax saving ways under Section 80C, they will be able to bring down their tax liability to zero. This will ultimately lead to dispose off their extra income.

According to the existing provisions, if an individual’s total income does not cross the limit of 5 lakh per annum, he or she will be provided with a rebate of Rs. 5000 for the income tax payable under section 87A. The amendment in the income tax rate has also proposed to reduce the amount of rebate to Rs.2500, from the existing Rs.5000. Further, only individuals who will have an income of Rs.3.50 lakhs per annum and not more will be able to avail this rebate.

These measures and changes will benefit those with an income of up to 3 lakhs per annum as they will bear no tax liability. Even people with an income between 3-3.50 lakhs per annum will only have to pay Rs. 2500 as their tax liability. Moreover, if individuals with an income of Rs. 4.50 lakhs per annum completely exhaust their exemption of Rs.1.50 lakhs under section 80C, their tax liability will be zero.

The other categories of taxpayers in the later slabs will also benefit from this measure as they will be able to save up to Rs. 12,500 per annum.

These savings can be used tactfully to either pay the EMIs of the loans for reduced burden with reduced income tax or can be used to pay a part of the principal amount of the loan to reduce the overall interest cost.

Waste Generation Charges To Be Paid In South Delhi

Waste GenerationNobody would have ever thought of paying for the waste, but now the south corporation has approved the proposal stating users to pay waste generation charges for producing Construction and Demolition waste. C&D Waste Management rules which came out in 2016 has been the basis for determining the charge.

Any user who generates more than 20 tonnes a day or 300 tonnes per month will be eligible to pay for the course and dumping of both types of waste – construction and demolition. Along with the charge, they will also have to pay for its gathering, depot and transportation. This is the same policy which had earlier implied by the north corporation by setting a waste plant of construction and demolition of waste in Burari.

The south corporation has decided that after setting up its own plant it will
• Impose a processing fee of Rs. 205 per metric tonne when the allowance of the building plan is given.
• Impose a processing of Rs. 225 per metric tonne if the waste is lifted from a dumping ground. It will be increased after every two years.

The areas which come under the south corporation generate waste to an extent of about 500 metric tonnes every day.

Since there were no rules to be followed before this policy, the waste was dumped by people in open spaces which led to huge amounts of dust pollution. This policy will help in regulating and controlling the dust pollution caused by malba. The most productive outcome of this policy will be recycling of this waste which can be used for rural roads, paving blocks etc.

The south corporation is determined to put a check on illegal constructions also by asking its zonal offices to levy a fine on any such case witnessed. This fine is said to be 1.5 times more than the waste generation charges.

Top 5 Ready To Move 2BHK Flats In Faridabad Above 60 Lakh

Eros Sterling Apartments
representative image

Faridabad has become one of the promising area for the purpose of investors as well as home seekers due to abundant facilities offered by the city. In proximity to Delhi, the place is well-known for its strong industrial setup. And this has spurt the demand for more residential accommodation within city. Below are the top 5 2BHK ready-to-move-in apartments above 60 lakhs in Faridabad which redefines luxury to its best:

 Omaxe Hills, Sector 43 

OMEX HILLS
representative image

Just 3 kms away from South Delhi, The project within noise and pollution free area caters lavish lifestyle to its residents. In-house services like Restaurant and Cafeteria are also available within project. Internal walls of the apartments are painted in the pleasing shades of oil-distemper paints. Nestled in the scenic beauty of Aravali Village, project also houses commercial spaces along with residential apartments.

Eros Kenwood Towers, Sector 39

Eros Kenwood Towers
representative image

This residential development by Eros group boasts the best of amenities and is quite close to various civic utilities like Manav Rachna International School, ICICI Bank, Indraprastha Apollo Hospital etc. Dedicated to refine comfort living, this project was completed in January 2007. Modular Kitchen is available within apartments with granite working top and stainless steel sink.

Eros Sterling Apartments, Sector39

Eros Sterling Apartments
representative image

Eros Group Builders exuberates exceptional quality construction in all its projects for over the past six decades of its existence and this project is not an exception to its motto. Spacious rooms here are complimented with well-placed large covered balcony. Ample parking spaces are provided to its residents. There is also a dedicated security round the clock.

RPS Paras Apartments, Sector 30

RPS Paras Apartments
representative image

These ready to move apartments have been developed with environment friendly policy. With playground, recreational area, 24 hour security surveillance and 24 hour backup, this exemplary project by RPS Group Builder offers splendid livings at the best of prices. RPS Group is one of the leading Real Estate Groups in Faridabad.

Saffron Kanishka Towers, Sector 34

Saffron Kanishka Towers
representative image

This enticing residential development by Saffron group offers spacious and skilfully designed apartments that are well equipped with all the ultra-modern amenities to facilitate its residents. Apartments located in the pollution free environment mark optimum utilization of space. These ultimate housing options offer limited safety and mobility with totally secure surrounding by a boundary wall at entry and exit point.

These fabulous ready-to-move-in houses offer lavish livings and turn your ‘dream’ home into reality!

Disclaimer:
All the details provided in the article are according to the results obtained as per a team research and the data provided by the builders from their old records. Rankings as mentioned in the article is based on information obtained from the builders and a research carried out by the team, and is subjected to vary as per different views. We hold no account for any change in information or deal of the property from what it is mentioned in this article at the time of visit or purchase. It is highly advised to have a check over the documents required to buy a property in NCR as any cancellation of the deal due to documents is not our responsibility. And that the article is merely an indication towards nice and affordable properties while actual properties may be different from what it is mentioned in the article and these are not to compel anyone to buy the mentioned properties. Lastly, none of the associates and partners of NCRGuru is liable for any type of misunderstanding or misjudgement towards properties mentioned in the article.

Top 10 Ready To Move 2BHK Flats In Faridabad Below 30lakh

Royal Heritage
Representative Image

Faridabad has recently come up with many new housing projects that have raised the standard of living. Due to notable infrastructural development in and around Faridabad, many astounding residential and commercial projects have been announced by the top-notch builder within the city. Below are the top 10 ready to move 2BHK apartments costing 30 lakhs in Faridabad:

SRS Royal Hills, Sector 87

SRS ROYAL HILLS
Representative Image

With 70% of open area, this marvellous project by SRS group is a residential-cum-commercial project in Faridabad. The property boasts an earthquake resistant structure and has many eco-friendly, fitness and convenience amenities. 100% electrical power back-up for common areas, lifts, street lights and parking areas are also provided within project.

ERA Reawood Residency, Sector 78

ERA Reawood Residency
Representative Image

Developed by Era Landmarks, well-designed and spacious 2BHK apartments in Faridabad here are equipped with all the basic needs to cater its residents. Completed in December 2013, these ready-to-move apartments are located at sector 78 which has great connectivity by roads to the entire city. Civic utilities like Ghai Hospital, HDFC Bank, St, Anthony School etc are in close proximity to the project.

All About Rental Management For NRI Investors

NRIs propertyPeople are buying now-a-days second home for a purpose of wealth creation. The definition of a home is now extended to a class of asset that generated income in the form of ‘Rent’. Gone are the days, when the sole purpose of buying a home is to live within it. Now investors market in real estate is quite active and this could be witnessed from the growth of secondary market over last few years, in spite the realty segment witnessing stagnation.

In Metros, the rents of a property have been increased drastically over the period of time. So, why to miss an opportunity of making money through your idle property? With help of the following tips, you as an NRI can generate good income out of your vacant property in India:

Issues to be taken care of by an NRI at the time of acquiring or letting out a property on rent in India:
1. Type of rent agreement
2. Repatriation of Rental Income
3. Tax implications on rental income

1. Rental Agreement
‘Rental Lease Agreement and Leave and License agreement are the two types of rental agreement in India.

While the former is the temporary transfer of ownership to the lessee, the latter does not allow transfer of ownership.

Leave and License agreement is considered a better form of rent agreement.

2. Mode of Rental Amount
NRO or NRE account of NRI is used for the purpose where tenant can directly deposit the rent amount.
Alternatively, after obtaining the necessary certification from a chartered accountant stating that all the tax-related liabilities have been paid off, the amount of rent can be received by NRI directly into their external account.

3. Tax Implications
Any rental income for NRIs arising in India is liable for taxation. The tenant is held liable for deduction the tax on account of rent paid to a NRI. A tax @ of 30% from the original rent amount has to be deducted at source by the tenant and has to issue a TDS certificate for the amount of tax deposited. In case of failure, the tenant shall held liable for the non-payment of taxes.

The NRI must keep a check on Double Taxation Avoidance Agreement as well, as if he resides in a country which has such kind of agreement with India, then his income shall only be taxable in India and not in his country of residence. In the absence of this agreement, NRI may require to pay tax twice, one in India and other at his country of residence.

4. Deemed Rental Income
If an NRI owns more than one residential property in India then except one, all other properties shall be considered as let-out and the NRi shall held liable to pay tax on these deemed rental income. The mode of ownership includes inheritance, purchase or any other mode. Under all these cases, holding more than one residential property by NRI will make NRI liable to pay tax on account of deemed rent.

It is highly recommended to make a thorough research in all the above contexts before taking a final call.

Top 10 Ready To Move 2BHK Flats In Faridabad Between 30-45Lakh

Puri The Pranayam FaridabadFaridabad as a city, has strong industrial set-up thus boosting the demand for residential accommodation by attracting more and more labour-force to it. To align with the growing demand, many renowned developers launched best of projects that can cater well to the needs of prospective home-buyers. Below are the top 10 ready-to-move apartments with  2Bedroom-hall-kitchen in Faridabad costing between 35 lakhs to 40 lakhs offering all basic and civic amenities.

Puri Pratham,sector 84

puri pratham Faridabad
Representative Image

With 70% of open area, this enticing project by Puri Builders is spread across 10 acres of land. Italian stone finish vitrified tiles are used to decorate its living, dining and bedroom areas while vitrified tiles are used in balconies and kitchen areas of apartments. High rise apartments here are intelligently crafted and clubbed with many eco-friendly services.

BPTP Princess Park, sector 86

BPTP Princess Park Faridabad
Representative Image

Designed by C P Kukreja and Associates, this ready to move flats in Faridabad will let you admire it for all pre-requisite amenities. Well detailed parks have been laid down within project for children. The project is just 5kms away from Railway Station and just 200 m away from Sai Baba temple. Completed in November 2013, the residential property in Faridabad also houses a shopping centre to facilitate the needs of its residents.

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