Living In Luxury, Gurgaon

  • ► Builders have agreed that the rates of Gurgaon properties have gone up.
  • ► Number of queries have gone up for Gurgaon projects recently.
  • ► Several projects of Emaar MGF, BPTP, Unitech, Vatika and M3M are coming up in Gurgaon.
  • ► Investors feel that Gurgaon is costlier but it is still a safer option.

The demand for residential property in Gurgaon has grown in recent times due to a number of companies that have shifted their base to the new industrial hub. Lots of people have migrated to Gurgaon with relation to their jobs and so the rental as well as capital rates of the area have gone up.

There are two kinds of apartments available in Gurgaon; there are the luxurious villas and then the conventional flats. The builders provide plenty of choices to the consumers and that lures many to rent or even buy apartments here and that too within their budgets. Apartments here are laced with all modern facilities ranging from excellent woodwork, modular kitchens, power back up, swimming pools, shopping plazas and round the clock security systems. The services provided in each project depend on the price range one has in his mind.

The villas will generally have more modern facilities compared with the residential complexes which might have certain basic facilities depending on the budget of the residents. Many people purchase the houses and then put them up on rent as they can provide good returns later.

According to C.K. Sharma, Proprietor with SGM properties, “You can find flats with different sizes and number of room’s in Gurgaon. Sector 65 has projects like Emerald Estate, Emerald Hills Villa, Emerald Floors and Emerald Hills by MGF Emaar. Emerald Floors has 3 and 4 bedroom apartments while the Emerald Villa has 4 bedroom villas”. He adds, “Unitech’s Sun Breeze in sector 69 has 2, 3 or 4 bedroom flats”.

The price for a 3 BHK in Gurgaon starts from Rs 2,000 psf to Rs 6,000 psf. The price will increase depending on the number of rooms in the house. For a 5 BHK the price can shoot up to Rs 8,000 psf. In case you wish to rent a home here then you might have to pay the rent of Rs 20,000 to Rs 50,000 again depending on the number of rooms and the location of the flat.

Today there is a wide range of choices once one decides to live in Gurgaon. The choices are available in terms of the budget, size of the flat, area, the facilities and many more. The builders are coming with state of the art complexes which have set new standards.

As more people move to Gurgaon, the prices of the apartments will continue to rise. With several housing projects in Noida hanging in fire, most property dealers are attracting people to buy apartments in Gurgaon. Real estate brokers of Gurgaon feel that the enquiries for residential projects in Gurgaon have increased due to the land agitation in Noida.

Buying in Gurgaon right now will be a wise investment to make for the future.

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Leasehold vs. Freehold Property

Freehold Property
Leasehold vs. Freehold Property

In the metropolitan cities property buying procedures are more difficult as there are multiple types of properties that exist there. Below we are going to discuss two kinds of properties, Freehold and Leasehold.

The main difference between the two kinds is the land ownership and control. As the owner, you can mostly do what you wish with your home provided you keep within local planning rules. In leasehold; the ownership is mostly given by the government for tenure of 99 years.

Freehold Property
If you have purchased a freehold property then you own the land it is built on and also the house. In case of apartments, the owner of the house becomes a share holder in the property. You can live there for as long as you desire. You will have the right to make alterations in the house or redo some parts of the house. You might have to take permission from authorities if you have to make structural changes, particularly with old buildings. In India mostly houses are sold as freehold property but apartments are mostly on lease, however, this too is changing as many flats are getting sold as freehold too. According to Manish Tyagi, who has recently purchased a house in Noida says that, “I feel buying freehold property is better because it gives me freedom of mind as i don’t have to pay any kind of rent or charges to anyone”. According to Manish Thakur a Lawyer with the High Court, “In freehold property there is a Property Tax component which needs to be deposited every year, while the leasehold rent component is comparatively quite low and infrequent”.Leasehold Property
In case you have purchased a leasehold property, then you have the right to live in a property for a stipulated period of time. Here the buyer is not the owner of the property or the land it is situated upon. In case of a leasehold property, you will have to pay ground rent to the owner or the freeholder. Once the set period in the lease expires, the ownership of the property is given back to the land owner. Mostly leases are roughly given for period of 99 years. If anyone is buying a leasehold property, it is important to find out how long the lease is for as it will influence the value of the property. It is possible to extend the leasehold to up to 999 years and you can actually purchase the freehold, but by paying a price for it.

To conclude we can say that buying a freehold property is more preferable than the leasehold property as freehold are more stable and are likely to increase in value in the longer term.

Comparison between the two kinds of properties:

Leasehold Freehold
 Lease duration usually 30, 60, 99 or 999 years.  Duration limited by town planning authorities.
Lease transfers require State or its equivalent’s approval. Few limitations on transfer of property.
Power to acquire leasehold interest or withhold land when lease expires. Some powers to acquire land for public works.

Prateek Group presents Prateek Edifice Sector 107 Noida

 

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TAJ ESTATES 9990372244, 9990372233

After great success of Prateek Fedora, Prateek Laurel, Prateek Wisteria – Prateek group comes with ultra luxury project in Sector 107 Noida, called Prateek Edifice. Next to elite neighbourhood of Lotus 300, Lotus Boulevard, Unitech Grande.

Sizes:
2070sqft- 3bhk
2450sqft- 3bhk+servent
3300sqft- 4bhk +servent
4300sqft- 5bhk+servent.

Price: 5400 PSqFt

Features:

  1. Designed by Hafeez Contractor
  2. 3 Side open Plot.
  3. 85% Open Green Area.
  4. Two units on each floor.
  5. Three lifts in each tower.
  6. Double basement parking.
  7. Fully furnished with complete woodwork, Italian marble
  8. Centrally air conditioned VRV system.
  9. High Ceiling Apartments.
  10. Provision of Gas Pipeline.
  11. Provision of Broadband Connectivity.
  12. Theme Landscaped Garden & Water Bodies.
  13. All Corner apartments.
  14. Personal Splash Pool with each apartment.
  15. Two Elevators for 3 Apartment Tower
  16. State Of The Art Centralized Security System
  17. Lobbies With CCTV
  18. Automated Boom Barriers
  19. 3-Tier Security System
  20. Intercom Facility In Each APPT
  21. Door Video Phone In Each APPT

Location:

  1. 5 Min Drive From Sarita Vihar, Apollo Hospital (New Delhi).
  2. 2 Min drive from Noida Expressway.
  3. 2 Min Drive From Sec-18 & GIP Mall.
  4. 2 Min Drive From Noida Golf Course.
  5. 20 Min Drive From South Delhi.
  6. Walking Distance From Metro Station.

Club:

  1. Swimming Pool With Separate Kids Pool.
  2. Wellness Centre with Aerobics.
  3. Steam Bath, Sauna, Spa, Jacuzzi.
  4. Yoga Center.
  5. Fully Loaded Gymnasium.
  6. Cafeteria.
  7. Fully Air-Conditioned Party Hall.

INDOOR ACTIVITIES

  1. Billiards.
  2. Table Tennis.
  3. Cards Room.
  4. Chess.

OUT DOOR ACTIVITIES

  1. Cycling & Jogging Tracks.
  2. Lawn Tennis.
  3. Squash.
  4. Badminton.
  5. Basketball Court.
  6. Skating Rink.
  7. Amphitheaters.

Payment Plan

On Booking

10% of basic cost

Excavation or within 60 days of Booking

30% of basic cost

Basement casting or within 120 days of Booking

10% of basic cost+Lease Rent

At the time of third floor casting

10% of basic cost+Car Parking

At thr time of 7th floor casting

10% of basic cost+Floor PLC

At the time of 10th floor casting

10% of basic cost+View PLC

At the time of 14th floor casting

10% of basic cost+Power Backup

At the time of 18th floor casting

5% of basic cost+Club membership charges

At the time of offer of Possession

5% of basic cost+IFMS

TAJ ESTATES 9990372244, 9990372233

Hibiscus 2 Sector 85 Gurgaon : Price detail

Taj Estates 9990372244, 9990372233

Hibiscus 2 Sector 85, Gurgaon is an ultra luxury project in the prime location of Sector 85 near NH-8 and Dwarka Expressway Gurgaon with world class specifications. Price detail of the project is given below.

Unit Sizes BSP Booking Amount
2BHK 1575 4800 7.5 L
2BHKP 1620 4800 7.5 L
3BHK 2280 4800 10 L
4BHK 2600 4800 12 L

PLC

Rate per sq ft

1st Floor

125

2nd & 3rd Floor

100

4th to 10th Floor

75

11th to 16th Floor

50

Park or Corner

100

Park & Corner

50

Other Charges

Rate/sq ft or fixed

Club

1,00,000

EDC

355

IDC

35

Covered Car Parking (1)

3,50,000

IFMS

Not Decided

Real estate bill hits road block

The Centre’s plan to regulate the real estate sector by safeguarding consumers from land sharks has hit a road block with several states opposing some provisions of a proposed bill.

The Real Estate (Regulation and Development) Bill drafted by the Union Ministry of Housing and Urban Poverty Alleviation is facing strong resistance from Uttar Pradesh and Chhattisgarh, which say that several provisions of the bill will allow the Centre to infringe on the states’ rights. They say that the Centre cannot make a law for the sector as land is a state subject.

West Bengal and Tamil Nadu have not submitted their opinions so far, while some states have sought more clarifications from the Centre on the bill.

The Centre, which had planned to introduce the bill in the budget session of Parliament, has held meetings with the states and urged them to submit their opinions at the earliest.

The Centre has allayed fears that it will impinge on the states’ rights.  A senior official in the ministry told Deccan Herald that the states are free to make their own bill on the lines of the Centre’s and can have their own regulatory authorities. The Centre hopes that the bill will be placed in the monsoon session of Parliament.

Redrafted bill

The bill, which was first mooted in 2009, was redrafted last year after some states sought major changes. Even after modification, resistance from some of the big states like Uttar Pradesh may lead to further delay of the bill, said the official.

As per the draft bill, promoters could face three years’ jail or/and a penalty up to a tenth of the estimated cost of the real estate project for failure to comply with its key provisions. The draft also has a provision for returning the amount paid by a buyer, along with interest, if a promoter fails to complete a project on time and give possession as per the agreement.

Besides, to ensure timely completion of the project, real estate companies must compulsorily deposit 70 per cent of the funds received from apartment or plot buyers in a separate bank account. All real estate companies have to register with the authority. At the Central level, a real estate appellate tribunal has been proposed to hear the grievances.

 

Read original story here

S S Group launches Hibiscus 2 in Sector 85 Gurgaon 9990372244

Call Taj Estates 9990372244, 9990372233

SS group presents an ultra luxury project Hibiscus 2 in Sector 85 Gurgaon near NH-8 and Dwarka Expressway

Salient Features:

  • Designed by international reputed architects
  • 9 acres landscaped green with water bodies, aesthetically designed by USA based landscaped architects.

•     Private Clubhouse with swimming pool, gym, spa & indoor game facilities.

•     Community center with party hall. private clubhouse, parks, a children’s play area and a range of sporting facilities.

•     Located on intersection of 60 Mtr wide Sector Road and 135 meter wide Multiutility corridor in Sector 85 of Gurgaon and just 2 km from Delhi Jaipur Expressway (NH8).

•     Convenient Shopping center.

•     Two apartments per floor.

•     All apartments two side open and green facing.

Top of Line Specifications

• 100% power back up.

• Combination of Italian marble and wooden flooring.

• UPVC windows.

• Air-conditioned apartments with hideaway type air-conditioners.

• International Brand sanitary fixtures (Kohler or equivalent) .

2BHK (1575 Sq FT)

3BHK (2280 Sq FT)

4BHK (2600 Sq FT)

BSP

5500

5500

5500

Discount

700

700

700

Net Price

4800

4800

4800

Initial cheque

7.5 L

10 L

12 L

About SS Group
SS Group, established in the year 1992 is a front runner in the real estate industry. The Group is known for giving a concrete shape to the building industry by becoming a provider of land assembly services.

In 1997, with the foundation of a mega township ‘Southend’ spread over 136 acres of land in prime location of Gurgaon, SS Group forayed into real estate Development.

A futuristic business conglomerate with strong presence in real estate development as one the key players in real estate development in NCR of India.

Armed with one of the largest land banks in NCR region the company is building an array of Residential properties, Hotels, Office/ Commercial complexes and other infrastructure projects that are set to build upon global standards.

It has over the last 20 years established itself

Key Projects

• Township Development: Southend, Aaron Ville

• Group Housing Complexes: The Hibiscus, Delights & Splendors,The Coralwood &Almeria.
• Row Housing Development: Radiance Residency,Georgian Residency, The Palladians &The Lilac.
• Commercial Project Development: SS Plaza, Hospitality Project Development & Frasers Place

About the project and SS Group

Price List Hibiscus 2

4 BHK Hibiscus 2

3 BHK Hibiscus 2

2 BHK Hibiscus 2

Call Taj Estates 9990372244, 9990372233