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DTCP says no to External Development Charges to realtors in Affordable Housing

External Development Charges in Affordable Housing

Is your realtor asking you to pay in the name of extra Amenities?

There you go, DTCP formerly known as Department body Town and Country has now issued a G.O to all realtors of the affordable housing project to not to charge any kind of extra Development charges other than what the buyer pay them for the flat in affordable housing project.

Having a word with the press they said,” CGST, SGST and other local taxes are completely different, that are to be separate and chargeable later.” The officials of the DTCP has fixed allotment rates for AGH units in all parts of the Haryana state, including Gurgaon city.

The officials also added that whoever been charged with the extra charges other than the plot or flat cost will have to claim so that to have a refund of the whole amount to AGH owners.

The director of DTCP, Haryana state, K Makrand Pandurang has passed all these orders on 1st October, after been receiving hell lot of complaints from the affordable housing project owners.

In the press meet he said that builders who had acquired licences under the affordable group housing policy of 2013 are asking the poor buyers to pay money in the name of extra Development charges besides allotment rates of the housing prescribed in 5th Clause of the government policy.

Recommended Post: OSB Golf Heights in Sector 69, a new destination for your dream home

The government policy  is follows with a fixed rate of 4,000₹ per square feet which also include of all extra Development charges in all parts of the state such as  Gurgaon, Faridabad, Panchkula and Pinjore-Kalka.

The prices varies as 3,600₹ per sq ft in towns of Haryana like Sonepat and Panipat, and 3,000₹ per sq ft in towns of Mewat and Sirsa. An extra charge of 500₹ per sq ft can be charged for spacious and extra balcony areas within or outside the area of the apartment.

Read Also: 52 Real Estate developers receives Notices from Haryana-RERA

So, buyers who have been charged excess can now avail the full repayment from the owners of respective Affordable housing projects.

Source:  TOI

October 6, 2018 / by / in
Relaxed Countryside Lifestyle at OSB Golf Heights

OSB Golf Heights Affordable Housing Project

OSB Golf Heights is an affordable housing project located on Southern Peripheral Road (SPR), which is a rapidly developing area with ease of accessibility. Precisely, OSB Golf Heights is located in Sector 69, Gurgaon which is only 1 km away from the major business and industrial hub – Sohna Road.

It comes under affordable housing scheme Gurgaon and is a well-equipped residential development with all elementary amenities and conveniences to make life truly comfortable for the inhabitants.

The whole residential development is spread across 5.41 acres of expanse land and 5 thoughtfully designed towers houses 1 and 2 BHK apartments. The design of the apartments has been carefully laid out to offer a suitable ventilation system.

                OSB Golf Heights is an epitome of affordable housing Gurgaon with its vivid architecture and numerous strategic location benefits. It offers a modern yet contemporary lifestyle to the residents. This affordable residential project in Gurgaon is located at an ideal location, offers value for money, quality, and standard specifications and features, essential and needful amenities.

The project offers a wide range of basic amenities such as multiple lifts, 24/7 power backup, a fully-equipped gymnasium, walking and jogging track, creche room and dedicated play area for kids, yoga ground, a meditation room, grocery store, fire safety alarm and extinguishers, inbuilt rainwater harvesting system, highly trained security and additional CCTV Surveillance.

OSB Golf Heights awaits to embrace and welcome to a world where nature and modern day lifestyle co-exist in harmony. Dive into a calm and peaceful state of mind with 70% open space and vast lush greenery that surrounds the project. Enjoy a healthy and fun-filled lifestyle and create adorable memories with your loved ones.

Must Read: OSB Group’s Latest Launch Under HUDA Affordable Housing Policy

OSB Golf Heights evokes a sense of comfort as it strikes a healthy balance between work and play. The location is very close to industrial clusters and business hubs, schools, colleges, hospitals, shopping malls, etc. Each one of these offers you a myriad of opportunities for fun, recreation, joy and promises you a lifestyle that you will fall in love with instantly.

                Being close to work and social amenities, OSB Golf Heights is your doorway to the picture-perfect life that you have always dreamt of with your loved ones. Affordable housing Gurgaon project which has been developed by Ocean Seven Buildtech Group (OSB) starts at an affordable price of ₹ 14, 83,000 and has a low booking amount of only 5%.

Well-connected to the major and important parts of Delhi NCR, OSB Golf Heights is the ideal affordable housing project in Gurgaon keeping in mind the value it provides for the money.

Recommended Post: Affordable Residential Apartments on Southern Peripheral Road

Moreover, location is a major deciding factor prior to investing in real estate, but while choosing OSB Golf Heights Sector 69 Gurgaon, one doesn’t have to think of anything. Situated near the major commercial hub of the city, the residential development may witness capital appreciation and healthy returns on investment in the coming years.

Sohna Road has become a popular investment destination in the past few years with tremendous growth and development in infrastructure and commercial development.

October 6, 2018 / by / in
What are the benefits of Investing in Gurgaon real estate?

Affordable housing project in Gurgaon

We are living in an uncertain world, where we all are not sure what tomorrow will bring to us. In life, we are getting tough situations day-by-day as the cost of living is increasing every year. Especially for the people who are living in metropolitan cities like Delhi-NCR. Gurgaon the city with vast Developments in iT sector where most of the young employees prefer to have  a second home in the city.

To overcome these situations, investing in affordable housing properties in Gurgaon is one of the best decisions one will ever make. Getting a huge benefit with bags of profits is the best ever thing with basic investment in the real estate is pretty great thing isn’t it ? So, experts of Real estate suggests that people who are ready to invest in the real estate should see themselves first in Affordable housing projects so that they can get a vast exposure. Here, some of the best benefits are listed below. Have a look!

Long-Term Financial Security

Investing in Affordable housing project in Gurgaon gives a Long-term financial security, which is one of the great benefits of investing in real estate. The affordable housing property value is most likely going to increase because land and buildings are appreciating assets. But it is always recommended to thoroughly research the location suggested within the limits of Gurgaon before buying the one for you.

Tax Benefits

Are you familiar with the fact that property investment also offers many tax benefits and deductions? Yes, this is true! The cash flow from an investment property is tax-free. Moreover, in Gurgaon it is valid where most of the affordable housing projects which approved  by HUDA and also comes  under affordable housing project scheme,2013 an initiative of Haryana Government. Additionally able to cut down almost all expenses related to owning and managing an investment property.

Full Control

You’ll have full control over the investment when you buy a rental property. Investing the sum in these affordable housing project especially in Gurgaon sets you free and ensures to have a freedom where  You’re free to make the decisions. Also, you will get to set how much to charge for rent and when to sell the property investment.

Fewer Risks

Every investment has also got some few cons so as in Affordable housing project investments, that has fewer risks when that compared to other types of investments. The longer you hold investment properties, the fewer risks of loss you will face because home prices raise up with time.

Recommended Post: An affordable home for you and your family in Gurgaon

Passive Income to Fund Your Lifestyle

It is well said that any form of passive income is better than no passive income. However, the investment in Gurgaon affordable housing projects can negotiate the Rents which might tend to rise over time and your cash flow will frequently improve as time goes on. The more rent you receive the higher will be your passive income. Especially in the city of gurgaon where the affordable housing project sales has a boom in its sales will obviously have a massive effect in increase of Rents accordingly to the demand.

Found Interesting in Investments on affordable housing project ? So don’t go late and Start earning some extra income via investing in affordable housing real estate, gurgaon now.

October 5, 2018 / by / in
52 Real Estate developers receives Notices from Haryana-RERA

Haryana RERA

Gurgaon: H-RERA which is formerly known as Haryana Real Estate Regulatory Authority until the month of September received a total of 1,150 complaints from buyers of Homes in Gurgaon. The complaint is that against builders of respective owners or developers for delays in completion of prepaid housing projects. With effective to the complaint forms more than 52 developers received the high confidential and legal notices from the H-RERA.

Right from the Information from the Officials of authority said their first property is completion of delayed projects

Among the total number of 1,150 complaints, there are more than 950 complaints are of the prepaid delayed projects which have been under construction and not delivered by more than 5 years.

At a maximum scale of these complaints which are given by 30,000 home buyers are completely frustrated of not receiving any plot of what they paid already. The base of these complaints state that these buyers are waiting for years, even after paying all the regulated loans, EMIs of consent residences and felt pathetic of not delivered their homes yet.

Keeping these frustrated complaints from most of the buyers Haryana-RERA has issued notices to 52 builders to affair the procedure as soon as possible with all clear documentation and ordered them to register with H-Rera with respect to 70 projects which are of these developers under and stated that these developers has to share a detailed status of their ongoing projects in the city of Gurgaon.

A serious deadline time until the end of October month has been ensured so that they have to respond to all the regulatory notices. Under any circumstance where these developers ignore the notices issued from Haryana-RERA, a massive penalty is going to be imposed on instant basis. .

According to Department of town and country planning- DTCP, an official stated to the press that around 3000 projects in Gurgaon has a permit till date.

Also Read Highlights and Challenges of Affordable Housing

A wide diplomatic contrast reveals that only 250 projects amongst all have registered with H-Rera. Even after paying a maximum percentage of cost within the tenure of payment the buyers haven’t received the developed plots yet.

During a recent press meet An official of Haryana-RERA stated that “Buyers has been suffering on a serious note because they are paying both EMIs and rent. These people have invested all their dreams of savings to have a own home in these projects.

In a cause of not getting delivered of homes to buyers for years. Most of the projects, are still under greater confusion and cannot predict their date to deliver with full fledged completion.” He also added to this Statement that “A strong penalty with proper FIR’s imposed on these degrading developers also a Strict action will be taken against these developers who are not following the authority norms and regulations.”

Source: TimesofIndia

October 3, 2018 / by / in
Amounts and Affordable Housing Will Be Improved for Real Estate business

Are you looking to invest in the affordable housing schemes for taking more benefits of your invested money? If yes then this year is going to be a perfect year for the investors as there are plenty of affordable housing projects are running in the market. You can choose the area which you think is going to be more profitable as the years passes; in that case comparison of various affordable housing, schemes will give you certain idea to choose the best one.

Chances of improvement in Real Estate business will increase:

The working scene of real estate business was started in India almost 20 years ago but most of the companies were not working to improve their benefits till the year 2001. Now in India the business of real estate is really going on some great heights because investors have started to buy properties in affordable housing schemes. There is plenty of housing schemes are running in the Noida and Gurgaon are which can gain your attention to investing in that area. If you are also a buyer who wants to invest in the

Real estate business then upcoming time can help you to get double benefits of investing in real estate business.

About the Real Estate regulation development act:

Whether you are a buyer or investor it is necessary for you to collect some information about Real Estate regulation development act which is made for helping the buyers to get more profits from their investment. You can check some of the key points of this act in following points:

  • The government has made Real Estate regulation development act (RERA) for helping the Real estate business and to improve their benefits
  • The new registration process after this act has been started
  • Because of this act, the buyers will be able to get refunds on canceling any booking
  • According to this act if any builder will not complete their projects on time, then you can take some legal actions
  • The Chances of trapping any buyer will be less for any builder because of this act
  • Transparency will increase in the working scenario of builders

Therefore, being an investor you can think about to invest in Real Estate business for taking more benefits of this act started by the government of India.

PM Awas Yojana is benefiting Real estate business more:

The developers are taking a great amount of interest benefits because of the PM Awas Yojana.  According to some of the experts the aim of providing a home to every Indian till the year 2022 can be achieved but in that case, 2018 will be the key to completing that mission.

 

 

October 1, 2018 / by / in
DLF to invest over Rs 1,400 crore in commercial project in Gurgaon

DLF To Invest In Commercial Projects In Gurugram

After getting an environmental clearance certificate from the Government,Real Estate King DLF Ltd is going to invest ₹1,400 crore for the development of a commercial project in Gurgaon to expand its office space by nearly 10 Lakh square feet.

In its new transit oriented development policy, The Haryana government has increased the floor area ratio. With these changes DLF applied for its development of increased built-up area in its ongoing Cyber Park project which is spread over in 12 acres of land.

As per the Official Document Published recently,

The approval from the Environment Ministry compliance with certain conditions and has given green signal for the expansion proposal made by DLF and taking into consideration of the recommendations of an expert appraisal committee.

Previously DLF had an estimate of ₹420 crores which now turned the minds of DLF to invest ₹ 1,400 crore to develop the Cyber Park project  According to the company they will now end up with leasable area of around 2.5 million square feet which previously had a rough figure of 1.7 million square feet.

This mega construction is to be located close to Cyber City, which has a lot of advanced stages where DLF has already took pre lease of about 60% of the area. The company has also bought another 12 acres of land in Gurgaon  for ₹ 1,500 crore to develop a commercial project, which will the company release its official Statement soon.

To monetise its rented commercial assets in gurgaon the promoters of the company recently sold 34% stake in DLF Cyber City for about ₹ 9,000 crore. India’s largest realty firm DLF has a commercial real estate of 3 crore square feet overall in Gurgaon

September 27, 2018 / by / in
The falling rupees paved a way to boom in realty Sales

 Reasons For NRIs To Invest In Indian Real Estate

With the surging dollars, the real estate segment in India is drawing the interest of foreign investors. The rupee has witnessed a dip of around 13.04% since the beginning of the year which attracted several Non-Resident Indian (NRI) to buy residential real estates in India.

The rupee has been rolled down by 6.20% in last three months. This depreciation in rupee against the currencies like UAE Dhiram, Dollar, and Pounds is pulling in large investments in the Indian real estate segment. The builders are also developing world-class projects with state-of-art amenities to attract the foreign investors. Bengaluru, Kochi, Pune, Chandigarh and Chennai top the chart as the cities where NRIs typically prefer to invest.

Indian real estate sector has always attracted the investors across the globe and with the new regulatory environment, the home buyers have regained the confidence to invest in the NRI centric projects.

The transparency in the real estate with RERA 2016 (Regulation & Development) Act, 2016, Goods & Services Tax (GST) and strict implementation of Benami Properties Act with amendments has aroused the interest of NRIs in the segment.

In year 2012, the property sales contributed by the NRI segment surged at 25% from usual 10% as the rupee witnessed a downfall by 17.37% between February to July during the same time. It has been considerable observed that whenever rupee experiences a steep depreciation against various currencies, the contribution of NRI investors in Indian Realty spikes.

Must Read: Rediscover Affordable Housing Gurgaon at OSB Golf Heights

Various reforms introduced to the real estate sector in last two years leads to slow down in sales but with the constant fall in Indian currency have allured the NRI buyers to invest.

The year is expect to witness the same swing as it experienced in year 2012. Property prices observing a low by 10% to 15% together with currency devaluation adding another plunge by 10% to 15% makes the real estate segment a lucrative proposition to invest.

 

Source: The Economics Times

September 25, 2018 / by / in
Why OSB Golf Heights Sector 69 Gurugram – a Preferred Choice?

OSB Golf Heights Sector 69 Gurugram

With the rising demand for the affordable housing options in Gurugram, many renowned real estate developers are coming up varied projects boasting various features. OSB Golf Height in Sector 69 is one such project in the league which marks its distinction with its world class amenities and budget friendly pricing.

Keeping in view the middle class segment, this alluring project has been developed inculcating all the key aspects of any flourishing residential project. Ocean Seven Buildtech (OSB) real estate developer is an ISO 9001:2008 certified company which has made its mark in realty segment with its outstanding projects.

After the grand success of its first project, OSB developers have come up with their second affordable housing project in Gurugram Sector 69 – OSB Golf heights. Well- connected to the Sohna Road and Golf Course Road, this astonishing project has wonderful features to boast about. A perfect choice for home seekers, this promising project is attracting many investors for its incomparable features.

A dedicated team of professionals at OSB has crafted this project with utmost precision to ensure a value for money to its esteemed customers. With the core objective of ‘Defining Development’, this project delivers the modern edifices with utmost sincerity and timely delivery.

Starting at the unbelievable pricing of Rs. 15 Lakh Approx, this project boasts 1 BHK and 2 BHK apartments boasting state of art amenities to make the stay of its residents amicable. With the carpet areas of 370 sq ft for 1 BHk and 580 sq ft for 2 BHK, 90% of the financing facility is available from all the leading banks. As low as 5%, is required to pay at the time of application.

The various flexible payment plans ensure the payment convenience to the home seekers. Interest subsidy under PM Awas Yojana is also available for the home loan making this project more viable.

Must Read: OSB Golf Height Sector 69 has turned ‘Affordable housing to become a reality’

Premier education institutes like Indus World School, The Vivekananda School, Nest School, Rao Maha Ram School, Footprints Play School, Suraj School, and GD Goenka University are in the vicinity of this esteemed project. The other location advantages boast by the project are as follows:

  • A 60 meter wide entry road to ensure smooth traffic transition
  • Connected to Sohna Road and Golf Course Road.
  • 10 minute away from Gurgaon ISBT.
  • 30 minutes away from National and International airport.
  • Vicinity to the multiplexes like Omaxe City, SRS Mall and Raheja Mall
  • Opposite to the astonishing projects like Unitech Sunbreeze and Tapasya Grand Walk.
  • 500 meter away from the proposed metro link

Recommended Post: OSB Golf Heights in Sector 69, a new destination for your dream home

The well-appointed apartments are decorated with the oil distemper paint, ceramic tiles, well designated balconies offering panoramic views, extended safety with steel gate on entry and steel railings in balcony, modular kitchen with granite slab, ISI marked electrical fittings, 24X7 water supply and power backup, children play area, yoga and meditation area, jogging track and other recreational facilities.

So, what are you waiting for? Book a home today at OSB Golf heights Sector 69 Gurgaon!

September 24, 2018 / by / in
Factors to Consider When Buying a Second Home

Buying a Second Home

Working in a different city miles away from your hometown, always reminds the employees to have an own home in the workplace city, so as many of the IT, e-commerce employees look for a second home mostly in the metropolitan cities.

To have an idea is great thing now, mandatorily and most important thing is that what factors has to be there to buy a second home

Let’s have a quick and brief reviews of the factors:

  • High loan Interest rates:
    Repaying your loan is never easy because at the end one will end up paying more money to the banks than initially took. This completely depends on the interest rate one is paying every month. So one should have clear knowledge on credit score and credit availability so that one avail a loan on the basis of credentials they get.
    Pros of this loan is that just like first home’s loan people will also get loans with tax-deductions ensuring that the second home will be regular time based use and not a guest house kind.
  • Choose payment options wisely:Loan repayments, if taken can be paid with a period range of 15-30 years. However, it completely depends on what someone can afford monthly installments. Fact is that A 15 year tenure repayments will come with higher monthly payments compared to 30 year tenure of repayments.
  •           Buying a Guest House isn’t that easy:Banks assumed that if a customer or a person who’s trying to buy a second home must already have achieved a financial status to afford lot of things. However, second housing buyers have must divide their income among their daily expenses and their secondary expenses such as previous home loans or miscellaneous loans.

Banks might ask the loan lenders for a breakdown of all his assets. With an average a credit score of minimum 725.

Rents: Having a rented second is always an option during financial crisis.

Recommended Post: 5 Reasons Why Gurgaon is a better place To live than Noida – Affordable Housing Gurgaon

So that one can file the appropriate taxes for any rental income. And obviously one should consult and hire an expertise of tax accountant for tax breaks & obligations with rental income opted people.

It’s always fine and better idea to have a second property which will remain worth it in the end for all your hard work

September 19, 2018 / by / in
Make Your Dream Residence With Affordable Housing Scheme Gurgaon

Affordable Housing Scheme Gurgaon

Affordable housing is popularly defined as the housing which is affordable to the middle class income holders that is rated by the Central Government or a state government by certain standards formerly recognized housing affordability index.

Most the statements on affordable housing refers to number of forms that exist along from emergency shelters, to transitional housing, to formal and informal rental, indigenous housing, and ending with affordable home ownership.

 Haryana State Government constitutes of huge number of housing, which comes under this government scheme, widely known as affordable housing. Best Quality, worth with affordable pricing is the main motive of the scheme. People living in Delhi, Gurgaon, Noida the NCR, cannot afford to buy homes which might usually cost in range 30-80 Lakhs, can easily buy and sort out their budget when it comes to affordable housing projects in the country.

Affordable housing projects are now offering homes with easily accessible and budget friendly in 1BHK and 2 BHK homes. These affordable housing projects are made such that one who buys it is surely appreciated by the family and treated as their biggest gift with flexible payment plans that are offered by the government.

Obviously it feels really great to have a own home rather staying in a conjugated rented home which consumes everyone’s monthly wages. The monthly installments if taken a EMI or loan from a bank are far lesser as compared to the rents that people pay for a congested rented home.

Recommended Post: OSB Golf Heights in Sector 69, a new destination for your dream home – Affordable Housing Gurgaon

On taking and comparing each and every aspect between rented home and a affordable housing project there are hundreds of benefits are given by these Affordable housing project.

No matter the requirement one wanted, affordable housing projects still stands first and offer the most suitable home to the people.  Home buyers are always in the thought process and kept on choosing the best when it comes to the affordable housing projects. Which are well equipped, well designed and developed that every kind of people who looks to buy their home based on their future plans and family requirements.

 

Also Read: Rediscover Affordable Housing Gurgaon at OSB Golf Heights

September 18, 2018 / by / in