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Good news for buyers! Post-RERA

Good news for buyers! Post-RERA, land deals to close 20-25% lower than the previous price http://www.favista.com/blog/2017/06/16/good-news-buyers-post-rera-land-deals-close-20-25-lower-previous-price/

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Good news for buyers! Post-RERA

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  1. Property Simplified Home About Us Our Team open in browser PRO version pdfcrowd.com Are you a developer? Try out the HTML to PDF API

  2. Good news for buyers! Post-RERA, land deals to close 20-25% lower than the previous price  June 16, 2017 close 20-25% lower than the previous price Real Estate Good news for buyers! Post-RERA, land deals to Srishti Chandola  With Real Estate Regulation and Development Act making it compulsory for the developers to buy land from their own funds and not through the advance payments that is collected from the customers, most of the land deals across India are likely to close at minimum 20% to 25% less than that of the pre-demonetization an pre-RERA rates. City and Industrial Development Corporation land auctions in Navi Mumbai saw over 40% lower bids than that in November, the possible impact of RERA and demonetization drives a launch on Nov 8 in 2016 especially to curb black money. The City and Industrial Development Corporation bids varied between Rs 65,250 and Rs 96,000 per square meter in comparison to Rs 1.15 lacs to 1.25 lacs in November. Definitely, this deal will set a benchmark for all the land deals that are closed in the coming few months. This is due to limited developers’ ability that RERA has to buy land with advance payments from the customers. Also, they have to pay complete amount in cheque and get their open in browser PRO version pdfcrowd.com Are you a developer? Try out the HTML to PDF API

  3. building plans that are cleared before launching a project. Most of the deals in the sector will expectedly close 20-25% lower than the pre-RERA rates. Market conditions reflected by land valuations Last year since November, there have been pretty fewer land transactions across India. They have come to a pause as this was one of the major segments where the cash component deployment was maximum. Since sale value also values, as well as sale velocity, have both been pretty slow, these have impacted land valuations. Also, RERA has put a spanner in the expansion plan of the developer’s as they are adjusting themselves to the fresh compliances and are refraining from buying some fresh land parcel. Land transactions will certainly continue to be under the cloud at least for next one and a half years. The developers while bidding for the properties, today are deep diving into dynamics o location or the micro market and taking the informed decisions keeping the present and future market conditions in mind. The rate at which the bid took place clearly reflects this reality. In the past, the buyers were ready to take a calculated risks based on the past appreciation levels. In the present scenario, however, prevailing market conditions are governing the investment decisions. Depending upon demand and supply has land valuation Other experts feel that present market conditions will have the varying impact in varied micro markets. All the micro markets will not react in a related manner. The rates at which land deals are closed will certainly depend hugely on the supply and demand dynamics. open in browser PRO version pdfcrowd.com Are you a developer? Try out the HTML to PDF API

  4. As per the reports, auction of two land blocks of 2.38 acres and 2.84 acres in Raidurg, which is an IT hub of Hyderabad helped TS Industrial Infrastructure Corporation raise Rs 185 Cr. As against the base rate of Rs 60500 per square yard in the first block of 2.38 acres which was the highest bid was that of Gowra Real estate working out to over Rs 88000 per square yard. Also, in the second block against t base rate of 60500 MSN Life offered over Rs 60600 per square yard. State-run National Building Construction Corp hopes to increase Rs 12000 Cr through e-auction of the 11 commercial towers in South Delhi with each part of the redevelopment of projects in place of low-rise government residences. SIDBI, HDFC, Power Finance Corp and Hindustan Petroleum have booked an upcoming 10-floor commercial tower at Nauraji Nagar for Rs 1100 Cr. each of these has brought property at over Rs 38000 per square feet much higher than the rates prevailing in Connaught Place. This is due to the commercial towers which are coming up close to Bhikaji Cama Place which is another business district in Delhi. In Haryana, the Haryana Urban Development Authority sold over 7820.80 square meter plot to Hyundai on Nov 16 after demonetization for over Rs 205.88 Cr to build its new workspace. The plans to auction more than 50 commercial sites to raise over Rs 150 Cr. Usually, the end users demand does not get impacted by external factors like demonetization. The present reduction rates, in fact, provides an appropriate time for the end-users to explore purchase options. In the past months, keeping the market conditions in the mind, HUDA has been continuously revising the circle rates. Also, this impact will reserve rates which would definitely be lower and thus more in tune with the conditions of the market. open in browser PRO version pdfcrowd.com Are you a developer? Try out the HTML to PDF API

  5. ← Boost your Credit Score by Paying Rent Mumbai’s Residential Locations to be Redefined by Compact Apartments → Leave a Reply Your email address will not be published. Required fields are marked * Comment open in browser PRO version pdfcrowd.com Are you a developer? Try out the HTML to PDF API

  6. Name * Email * Website Post Comment Subscribe to our newsletter Want to be notified when our article is published? Enter your email address and name below to be the first to know. Name Email Send open in browser PRO version pdfcrowd.com Are you a developer? Try out the HTML to PDF API

  7. Facebook Favista Real Esta… Like Page Twitter Timeline Tweets by @FavistaRealty Recent Blogs Mumbai’s Residential Locations to be Redefined by Compact Apartments June 17, 2017 Good news for buyers! Post-RERA, land deals to close 20-25% lower than the previous price June 16, 2017 Boost your Credit Score by Paying Rent June 15, 2017 Attractive Homes across India you would not like to Miss June 14, 2017 How to Incorporate Books into your Home Decor? June 13, 2017 open in browser PRO version pdfcrowd.com Are you a developer? Try out the HTML to PDF API

  8. Favista is a Real Estate Advisory Firm based in Gurgaon, India. Favista believes in making every property transaction experience simple and successful. The aim is to bring transparency, professionalism and simplicity to the complex world of real estate. Favista takes pride in keeping the needs and concerns of the customers in highest regards. Favista Real Estate has been founded by IIT + IIM/INSEAD alumni with experience in strategy consulting, internet marketing, venture capital having been part of companies such as McKinsey, Capital One, PartyGaming and SSG Capital. Favista is a full service brokerage helping buyers/investors buy, sell, rent or lease property in India. Favista offers best realty advice for Apartments and Flats for sale in India, land/plots for sale, New Residential & Commercial Projects in India and also assists selling properties at best rates. Favista.com is the only Property Site in India that lists 100% verified properties. Favista currently operates in Gurgaon, Delhi-NCR, Noida, Mumbai and Bangalore.Those intending to sell property in India will also find this website very useful owing to the extensive reach, high brand recall and trustworthiness in the real estate space. In order to make our customers happy and for us to reach our goals, we follow the key tenets of transparency and consistently maintain integrity in everything that we do. With this professional attitude, we are set to become your preferred choice for all real estate services in India. ABOUT QUICK LINKS About Us Our Team Post Property FREE Career EMI Calculator Contact Us Blogs Terms Compare Projects Privacy Policy Download Mobile APP Disclaimer Sale Property Site Map Rent Property open in browser PRO version pdfcrowd.com Are you a developer? Try out the HTML to PDF API

  9. CONTACT FAVISTA Toll Free - 1800 2121 000 (ALL INDIA) Gurgaon - +91-124-3378700 Noida - +91-120-4117463 Unit 235 to 240 2nd Floor, Vipul Trade Center,Sohna Road Sector 48, Gurgaon, Haryana 122002. Mumbai - +91-22-40142051 Email Sales - sales@favista.com Email Enquiry - info@favista.com 1 Square meter = 10.764 Square feet Have More Questions? Do not hesitate to contact us! Read our FAQ's or Leave a feedback for us to contact you shortly. © 2015 Favista Real Estate Pvt. Ltd., All Rights Reserved. open in browser PRO version pdfcrowd.com Are you a developer? Try out the HTML to PDF API

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