Lots of opportunities for growth, but civic issues are causing trouble in Indirapuram real estate

Indirapuram was conceived in the early 1990s by the Ghaziabad Development Authority (GDA) as one of the first planned townships in Delhi/NCR. It took a lot of time to get things underway, but by the early 2000s, Indirapuram was on the road to development. There was great excitement about the new township in real estate circles due to its great location on NH 24 and also because of its good connectivity with surrounding areas of Delhi and Noida. The fact that it was a planned township meant that it would be constructed in a way that residents are able to enjoy the best possible amenities and infrastructure.

Over the years, Indirapuram has made a lot of progress in certain areas. The real estate market in Indirapuram grew a lot in the first few years and now there are more than 1.2 lakh people living in the locality. Plenty of malls and retail centers also came up in the area, along with educational institutions. But other necessities for residents suffered at the same time. These have led to several civic issues in Indirapuram which are adversely affecting the growth of the real estate market here.

Health care was one area which the authorities failed to address in Indirapuram. While there are several private hospitals which are present in Indirapuram, there is not even a single government hospital in the area. This means that residents who cannot afford the expensive treatment at private hospitals have no recourse in case of health problems and emergencies.

But perhaps the biggest civic issue that is plaguing Indirapuram is that of waste disposal. Because of the massive population boom in the region and the sloppy waste disposal system put in place by the GDA, Indirapuram and its streets have become dirty and congested. The waste disposal system resembles that of old, unplanned Indian cities where garbage is usually dumped either in open garbage bins along roadsides, or in vacant plots. Both of these methods of garbage disposal are extremely harmful to the quality of life and health of residents and also make the locality aesthetically unpleasant. The problem of garbage disposal is so bad that in certain areas it is impossible for residents to open windows or stand on their balconies due to the stench.

Indirapuram still has a lot of potential for growth – it has a good location, great connectivity and a burgeoning population. But the GDA has to prioritize the solution to civic issues in order for the potential to be fulfilled.

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Upcoming project Saya Gold Avenue to be the jewel of Indirapuram real estate market

There is good news for all those looking to invest in some prime quality and world class real estate in Indirapuram. The latest project by the developer Saya Homes – Saya Gold Avenue – has been given the green light by the Ghaziabad Development Authority (GDA). This project promises to be one of the most lucrative and world-class residential towers in the NCR region and after a slow start, the project has finally been given the go-ahead the developers so badly wanted.

Legal troubles have been overcome

After a number of legal disputes and stalling, Saya Homes delivered the great news that all of its dues that had to be paid to the GDA have been cleared. Moreover, the mutation deed for the project has been signed as well. This means that the land that Saya Homes had acquired for the project has been cleared of all disputes and construction can finally begin in earnest.

World class residences in Indirapuram, delivered by Saya Homes

Saya Homes plans to stay true to its promise and deliver world class residential apartments in Indirapuram. This project is sure to become the jewel of the Indirapuram real estate market – with the massive interest it has generated among real estate circles and the vision of Saya Homes, it is definitely one of the most talked about upcoming apartment in Indirapuram.

Saya Gold Avenue will offer best in class 2/3/4 BHK apartments in Indirapuram, all at affordable prices (with a price range from Rs 46-85 lakhs). The project also benefits from great connectivity – access from Delhi, Noida and Ghaziabad is quick and hassle-free. Also a proposed metro station will only be 1 KM from the site.

Designed to provide the best in luxury, convenience and comfort, Saya Gold Avenue can provide the residents with a truly international standard of living – the lighting, the scenic surroundings, the mesmerizing gardens and fun social atmosphere will make living in Gold Avenue one of the best residential experiences in the NCR region.

Spread over a sprawling 20 acres of land, Saya Gold Avenue is not only the best in design and modern architecture, it also takes care of our need to care for the environment – because of that, the project is being designed as 75% eco-friendly. The residential towers are meant to protect your home and your family, so the buildings are completely earthquake-resistant.

Saya Gold Avenue is also an amazing investment opportunity. Homes at Saya Gold Avenue are bound to appreciate greatly in value and hence become a lifelong asset to cherish!

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5 Luxury options in Indirapuram real estate

Indirapuram is a much sought after destination for those who wish to own a home in NCR. Developed by the Ghaziabad Development Authority (GDA), it houses many prestigious projects.  It is an investment haven for reputed builders as the area attracts affluent crowd although there have been many recent developments to attract the middle income groups as well.

Indirapuram is much greener than other parts of NCR which is an ideal location for families to set up home.  The area has shown steady development owing to its excellent infrastructure developments and proposed metro rail network passing close to Indirapuram.  The geographical location of Indirapuram is ideal as it is positioned near three important business centres; Delhi, Noida and Ghaziabad.

Indirapuram is a favourite among people who are looking for a second home in the city. The return on investment in the area is high and this prompts many to invest heavily in this location.  Being close to business centres, the demand for rentals is also high.  This demand is mainly driven by the professionals working in the IT and other MNCs near Indirapuram.  Due to this demand, the real estate prices in the area are also increasing steadily.

The real estate in Indirapuram is an ideal mix of villas, apartments and townships catering to people of all income brackets.  The luxury living spaces have been seeing a huge upsurge in demand, and many reputed builders have introduced projects here.

Here’s a random pick from them:

  1. Amrapali Green offers luxurious 4 BHK apartments at a price bracket of 1.2 to 1.5 crores. The apartments are all semi furnished and comes with four wheeler as well as two wheeler parking space.  All the rooms are bath attached and a fully equipped modular kitchen is also provided.
  2. 4 BHK Penthouse at Aditya Mega City with all modern amenities such as swimming pools, gyms, a badminton court and space for indoor games.  The penthouses are rated at 1.35 crores with additional costs for registration.
  3. 4BHK Penthouse at Shipra Suncity at 2.5 crores semi furnished and with marble floorings.  It has a beautiful garden upfront and has 24 hour security backup.  The project has a clubhouse, swimming pool and gymnasium.  Parking for two and four wheelers are also covered for all the apartments.
  4. 3 BHK apartments in Aditya Mega City Royale at 1.04 crores.  It is a residential cum shopping complex.  The whole building is equipped with intercom, Wi-Fi and Broadband facility.
  5. 4BHK apartment by ATS Infrastructure at 2.07 crore semi furnished with four baths.  It also houses many modern facilities and infrastructure.
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The Many Advantages Of Owning Property And Living In Indirapuram

Indirapuram, located on NH-24 in Ghaziabad, is one of the most preferred residential areas in NCR. The posh locality lies in close proximity to Noida as well as Delhi. Real estate buyers benefit from the variety of property options, be it affordable or luxurious, that are available here.

Property in Indirapuram

The following are the many pros of a property owner and resident of Indirapuram:

Convenient Public Transport Facilities :

The Ghaziabad Development Authority (GDA) is proposing new plans to meet the needs of the growing population in terms of commercial, residential, and infrastructural developments. The area is to be further developed in order to make the commute between Delhi and Noida a hassle-free affair. In order to achieve this, a proposal for extending the metro from Sector 32 to Sector 62 is in the works.

Currently, the nearest metro station to Indirapuram is at Vaishali. Indira Gandhi International Airport is only 33 km from Indirapuram. Railway stations situated in close proximity to Indirapuram include Ghaziabad, Hazrat Nizamuddin, and Anand Vihar terminal. All these factors contribute to making Indirapuram flourish with public transport options, travel methods, and easy accessibility to other parts of the city.

Development Of Commercial Spaces:

Development of the local markets in Indirapuram is also an upcoming development. Apart from this, there are plans to develop the commercial space segments for office spaces. About 150 acres of space would be utilised to develop the Indirapuram Extension, purely for offices, in this fiscal year.

Victory Infratech has proposed to launch Indirapuram Habitat Center for real estate development in Ghaziabad. Whether it’s an outing with friends, business meetings, or shopping requirements, this habitat centre is the go-to destination.

There are some excellent schools, hospitals, and shopping malls located in Indirapuram, which is another reason that benefits people living here. Many MNCs are planning to invest in Indirapuram in the near future, as the locality is a promising location for commercial ventures.

Precautions For Safety And Security:

Installation of CCTV cameras is another major step undertaken to ensure safety and security conditions for the residents residing in this locality. GDA has tied up with Reliance to install CCTV cameras in 50 places. Reliance is also installing 4G network in Indirapuram for strengthening the security system.

Abundance Of Residential Housing Options:

Many projects that were incomplete due to issues created by GDA over the Floor Area Ratio and Floor Space Index, have now been sorted. GDA has set the parameters for FSI, permitting G+2 buildings to have four apartments on one floor. This has legalised many projects that are now available for purchase. Buyers can look forward to a variety of residential housing options in Indirapuram.

As of now, the real estate market of Indirapuram is stable, however, there is a possibility that property prices may soon escalate due to the improvement in connectivity and new developments in the area. Remember, the earlier you buy property in Indirapuram, the sooner you will benefit from the high investment returns.

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Developments That Contribute To Indirapuram Being The Best Place To Invest For End Users

Indirapuram is a recently developed residential locality in Ghaziabad. The area’s proximity to both Noida and Delhi has made it one of the most preferred localities in NCR. Read on to discover the development that contributed to Indirapuram being the best place to invest for end users.

Conveniently located parallel to NH-24 that leads to Delhi, Indirapuram has witnessed rapid real estate development in the last decade. The coming in of industries and MNC’s in Noida and Ghaziabad, which are just 5-10 km away, positively impacted the real estate market of Indirapuram. Let’s look at the reasons that led to establishment of Indirapuram as one of the most favoured residential localities in the region.

Expedient Location

A major facet that helped in the development and growth of Indirapuram is its location. Close to Delhi, Noida, and other prominent places in Ghaziabad like Vaishali Metro Station, the area benefited from the development experienced by these cities. Also with a lot of migrants from UP coming to work in NCR, Indirapuram became the perfect residential destination for them to reside.

Road Connectivity

Another reason that makes Indirapuram the ‘go to avenue’ for end users is its closeness to NH-24. This highway connects Delhi to major cities in Uttar Pradesh, such as Lucknow, Moradabad, Bareilly, and Shahjahanpur. The presence of a major highway just a few metres from the locality, greatly impacts its real estate worth, and is also bringing in the much-needed development in the area.

Burgeoning Infrastructure

Indirapuram’s position in the map, coupled with the influx of MNC’s in the adjacent region helped boost the infrastructure growth in the area. The establishment of residential projects here, brought about a welcoming increase in the schools, hospitals, shopping centres, and other social infrastructure in the locality. Proper infrastructure is something that most people look for in a place they want to call home. Indirapuram scores brownie points in this department as it has well-developed infrastructure- be it social or physical.

Rational Property Prices

One thing that makes Indirapuram stand out is the fact that the property prices are very reasonable when compared to the property rates in neighboring cities like Noida and Delhi. Presently, the average property price in the area is around Rs 5900 per sq ft. This helps bring in more people who want to purchase their own residential property in a standardised rate.

Indirapuram has seen a complete transformation in terms of both infrastructure and real estate properties, and is now amongst India’s better residential localities.

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Noida and Ghaziabad witnessing Massive Power cut during Festival Seasons

The residential areas of Noida and Ghaziabad over the past two days is witnessing a massive power cut, after the UP Power Corporation Limited imposed at least four scheduled cuts in the past 48 hours. However, the residents say that the power cut have stretched beyond the scheduled periods. The power crisis has occurred despite the power corporation promising that outages would be kept to a bare minimum during the festive season. Corporation officials have given no assurance that outages would be brought under control during the days ahead. The crisis, which has hit the region right in the middle of the festive season, has proved to be a dampener for residents in both cities. Many who had chalked out plans with friends and relatives during the festivals have now changed their plans. According to Asmita Mathur, a resident of Indirapuram, “My relatives, who were to arrive from Mumbai for a week, have now altered their plans”.

According to a UPPCL official, “These outages are being affected with orders from Lucknow as there is a short supply of electricity in the state. When we get the necessary supply, we will ensure full power”. Thus, this power crisis is going to be a dampener for residents in Noida and Ghaziabad during the festival season, if the concerned officials do not bring this power crisis under control.

Source: The Times of India

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DDA flats are busy in meeting the deadlines

With the assembly polls round the corner, both the Delhi government and the Centre are busy in meeting their deadlines of DDA flats. While several schemes are in different stages of construction or allotment, some projects have not yet taken off despite being announced with a lot of fanfare and many others are stuck in litigation. The Master Plan 2021 says the capital would need 24 lakh additional dwelling units to cater to a projected population of 230 lakh by 2021. As per the plan, at least 54% of these units should be for the economically weaker section and the LIG category.

In August, DDA had paved the way for allotment of the EWS houses in Dwarka, initially meant to be a regular housing scheme, to JJ cluster dwellers from nearby areas. According to a DDA official, “This decision will be a one-time decision as in future the guidelines of the housing and urban poverty alleviation ministry will be followed for formulating schemes for rehabilitating JJ clusters”. In all, 2,383 slum dwellers have been identified for rehabilitation in the Dwarka EWS flats from six clusters at Indira Camp 2, 4, 5, 3 and 6, Vikaspuri and Shanker Garden. The allotment process is likely to take six months to a year.

Around 11,000 flats are proposed to come up in the land recently acquired by DDA in Rohini and around 809 flats in community personnel plots. DDA’s screening committee cleared over 16,500 flats this April. But there is no indication of whether the construction will be over by 2015. DDA is also yet to clear construction of nearly 50,000 EWS flats.

In-situ projects are also facing difficulties, with the plan for the Katputli colony in west Delhi dragging on for years and DDA approving shifting of 2,574 JJ slum dwellers to a transit accommodation at Anand Parbat only recently. Once the colony is vacated, development of 2,800 units will begin, said officials. The project, conceived in the public-private partnership mode, will see the private firm Raheja Builders developing the units, unlike the recently inaugurated in-situ project at Kalkaji where DDA is constructing 8,064 flats.

Source: The Times of India, Delhi/NCR

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Vaishali and Crossings Republik is emerging as strong competitors to Indirapuram in Ghaziabad

Indirapuram is Ghaziabad’s foremost locality, followed by Vaishali and Crossings Republik, which now has turned into strong competitors to Indirapuram. Both Vaishali and Crossings Republik have their own strengths. Today, Vaishali is sitting on a huge inventory of ready-to-move-in residential properties which are mainly from the builder floor category and are constructed by individuals and small-time builders hoping to get some quick returns from the market. These units are available in the range of Rs 32-60 lakh, and their rates start from Rs 3,200 per sq ft and goes up to Rs 5,500 per sq ft, depending on the location, specifications and quality of construction. At the other end, Crossings Republik offers rental properties at highly affordable rates. Meanwhile, the real estate market in these localities remains dynamic, witnessing ups and downs in the recent past. As per MagicBricks.com research Crossings Republik has undergone a correction of eight per cent during the Jan-Mar 2013 quarter.

According to Vijay Kharbanda, a city-based real estate broker, “Apart from ready-to-move-in stock available at reasonable rates, Vaishali enjoys Metro Rail connectivity. That is the single-largest factor, in terms of connectivity, that drives property buyers to this area”. He also added, “The only problem with Vaishali is that a large number of builder floor units are constructed by individuals who bought land in this area a few ago and do not have any expertise in construction or real estate development”.

According to Sulabh Raghuwanshi of Raghuwanshi Properties and Construction, “Crossings Republik is drawing crowds mainly because of low rental values, which are 20-40 per cent lesser than Noida and other parts of Ghaziabad”. He also added, “However, as more and more people are turning towards this area, landlords are noticing high demand and therefore their expectations are also increasing”. “Since correction brings market at realistic levels, it makes properties attractive. If rental values at Crossings Republik come at par with Indirapuram or other nearby locations of Noida, people would prefer to go to those areas first,” said Raghuwanshi.

Source: Times of India, Delhi/NCR

 

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Green signal to development works in over 200 unauthorized colonies of Delhi

The Delhi cabinet led by the chief minister gave a green signal to development works in all colonies that existed on the ground in 2002 even as these do not meet the eligibility criteria of 50 percent built-up area in 2007 as per regularization guidelines. This will now lead to extensive road laying projects and other development works to woo voters in over 200 unauthorized colonies. The Delhi urban development minister said that the state will write to the union government apprising them of the cabinet decision.

The state is hopeful of highlighting a total of almost 1,400 colonies as regularized before the model code of conduct for the assembly polls is declared. The cabinet also set on roll the much-delayed project of allotment of houses for EWS in Narela and Bawana.

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Delhi Government decided to stop all GPA based property transaction

The Delhi government has decided to put a stop to registration of all general power of attorney (GPA)-based property transactions. The revenue department in April 2012 issued the earlier order. The fresh orders will open the door to registrations based on GPA but with a rider that these can only be legal transfers and cannot be construed as transfers of title that enables mutation or transfer of property. This move will enable GPAbased sales and registration of properties in areas like unauthorized colonies, where there is no documentation to execute a clear sale deed with transfer of title. For the poll bound Delhi government, it is a move to encourage the lakhs of voters in these colonies, which are growing into a potential ground for real estate dealers.

Before the 2012 orders came into force, around 20 percent of registries were done through GPA transfers—a common way of selling leasehold properties and those that do not have a clear title. Bankers said the proportion of GPA transfers were even higher in sales involving bank loans. The final order on allowing registration of GPA-based registrations has the sanction of the LG and final orders are likely to be issued on 22nd July. Chief Minister was quick to capitalize on the decision and made the announcement at a public meeting in Nangloi late on 19th July evening. The government hopes to see its revenue spiral if such registrations are enabled through a fresh circular, which, it says, is a clarification following a high court order last month, which quashed the Delhi Government’s April 24, 2012, circular. The revenue department says that the circular has been drafted keeping in mind the spirit of the Supreme Court’s 2011 judgment.

The broad contours of the circular that is set to reverse the previous orders states that nothing stops a registered property owner from executing a General Power of Attorney or Special Power of Attorney in the name of spouse, relative or any person of trust to manage his property or empowering him or her to execute any further deed of transfer including sale gift deed on behalf of registered owner. It is clarified that it is also legally tenable if the registered property owner enters into a land development agreement with a builder and executes a registered power of attorney. In addition, the registered power of attorney holder is competent to execute further the deed of transfer like gift deed and sale in accordance with the terms of the GPA.

All this is said with a rider or with provision. Properties can be transferred only by registered sale deed. GPA-based transactions cannot be the basis for a mutation to enable transfer of the property’s title. The department had maintained that the order was required, as GPA, transfer transactions left no evidence of how many times a property changed hands. The order aimed at cleaner transactions with clear title deeds and higher revenue for the government.

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