Six D Real Estate Pvt. Ltd.

Six D Real Estate Pvt. Ltd. Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from Six D Real Estate Pvt. Ltd., Estate agent, C-164, 1st floor, Sector/10, Noida.

02/11/2011

Delhi Property Prices Set to Zoom as Govt Hikes Circle Rates by 250%

Property prices in the capital are set to zoom as Delhi government on Monday hiked the circle rates by up to 250 per cent to check black money in sale and purchase transactions. This is the second such hike in circle rates — the minimum valuation of land and immovable properties — in the city in the last nine months. The rates were hiked by over 100 per cent in February. As per the revised rates approved by Delhi Cabinet, Rs 2.15 lakh per square metre has been fixed as new circle rate for category A colonies such as Defence Colony, Greater Kailash, Gulmohar Park, Panchsheel Enclave, Anandlok, Green Park, Golf Links and Hauz Khas.

This means nobody will be allowed to buy land and immovable properties in these colonies for less than Rs 2.15 lakh a square metre. The existing rate in these colonies was Rs 86,000 per sq metre and the hike effected by the government is 250 per cent. “We have decided to hike the circle rates in the range of 15 per cent to 250 per cent so that the property transactions reflect the real value,” the chief minister, Sheila Dixit, said after the Cabinet meeting. She said the government would be able to generate an additional revenue of Rs 800 crore annually due to increase in collection from property transaction through stamp duty and registration fees.

Revenue department officials said the government hiked the rates as in most cases, actual rates of properties are not shown on paper due to which the government suffers loss in revenue in stamp duty and registration fees. “We wanted to stop flow of black money in the property transaction and enhance revenue generation,” they said. Dixit said the government has also decided to revise the rates at an interval of two years. The circle rate of properties is the system in which the government fixes the minimum or maximum rate of the land depending on the category of colonies it falls in and no transaction is allowed below the minimum rate fixed by the government in any area of the city.

As per the Cabinet decision, Rs 1,36,400 per square metre has been fixed for B category colonies such as Andrews Ganj, Kalkaji, Munirka Vihar and Nehru Enclave. The rate for these colonies was fixed at Rs 68,200 per sq m in February. Similarly for category C colonies, the rate has been hiked by 100 per cent and the new rate would be Rs 1,09,200 per sq m instead of current Rs 54,000 per sq mt. For category D colonies, the rate has been hiked from Rs 43,600 per sq m to Rs 87,200, which is an increase of 100 per cent.

For category E and F, the rate has been fixed at Rs 47,800 and Rs 38,640 per sq m instead of existing Rs 36,800 and Rs 32,200 respectively. The new rate for categories G and H was fixed at Rs 31,000 and Rs 15,870 against current rate of Rs 27,400 and Rs 13,800 respectively. The revenue minister, A K Walia, said the new rates may come into effect within one week. A notification would be issued to effect the hike. The circle rates were first introduced in Delhi in 2007, dividing the capital into eight categories, and were notified under the provisions of the Delhi Stamp (Prevention of Undervaluation of Instruments) Rules, 2007 on July 18, 2007.

29/10/2011

Noida today, whole of India tomorrow

The ongoing land row in Noida Extension has stirred apprehension and uncertainty in the entire real estate scenario of Noida, especially with regard to the prospects of affordable housing. In fact, this negative sentiment threatens to snowball into pan-Indian phenomenon, thereby disturbing the real estate climate of the whole nation, in the near future.

Thousands of home-buyers involved in the stalled residential real estate projects in Shahberi and Patwari villages are aggrieved because along with their lifetime’s savings, their hope for having an affordable dream home has got stuck in the dark recesses of a seemingly never ending tunnel.

The builders involved in these projects are frustrated as their huge investments are now appearing to go down the drain, along with the looming threat of enhanced debt burden.

The affected farmers too know that their erstwhile farmlands, after being subjected to so much construction work, can now no longer be used for farming. Moreover, Greater Noida Industrial Development Authority would find the task of redistributing of these lands to the farmers a next to impossible proposition, as the entire look and feel of the farmlands have now undergone a drastic change.

In fact, a significant number of the farmers in Greater Noida has already received their compensation. I believe, they no longer want to get back their lands and revert to their sylvan lifestyle; they are eager for more compensation instead, which might facilitate their entry into the neo-rich club of the NCR.

Amidst all these confusion, the GNIDA, who many buyers feel is responsible for this ongoing mess in the first place, is emerging like a toothless tiger. It is failing to arrive at an amicable settlement between the aggrieved parties so that construction of buildings and dreams can resume.

If this stalemate like situation continues for a few more months, amidst the backdrop of financial crunch and taxing debt burden spearheading through the realms of Indian real estate, I am afraid that the future of realty in Greater Noida or rather the entire Noida, would be jeopardised. There is no denying the fact that amidst the skyrocketing real estate prices in Delhi-NCR, Noida Extension has come out with affordable housing solutions that do not compromise on the needs of middle class comforts and securities.

At the same time, if all the demands of farmers from Noida Extension are met, it would not be the end of the problem; instead this precedence would spark off many more such farmers’ ‘agitations’ across the length and breadth of the country, with the central theme of demanding more and more compensation gaining momentum. This would eventually stall the development process irrevocably. For once, we should refrain from populism, and call for a changed land acquisition act, where the apparent and inherent transparency would leave no room for ambiguity and the potential consequent unrest. The government should bring a robust and relevant land acquisition law at a lightning speed with the consent of all stakeholders so that the real estate sector, which is an engine of growth, is not crippled.

23/09/2011

‘Bill to regulate real estate by winter session’

The proposed Real Estate Regulation Bill, 2011, is likely to be taken up during the winter session of Parliament, minister of housing and urban poverty alleviation and culture Kumari Selja said in Mumbai.

The bill is expected to fill in the regulatory gaps and bring in more transparency in the unregulated property market. Selja said the regulatory bill is aimed at bringing in transparency and fair deal in the sector whose image has been tarnished by several scams and also one-sided agreements with customers.

“It will be a central law but will have state regulators. The regulator will have penalising and appellate powers,” she said at the sidelines of a Ficci Real Estate Summit.

On Land Acquisition Bill, she said that she has already written to the rural development minister Jairam Ramesh and prime minister Manmohan Singh about land acquisition bill having an impact on affordable housing as the cost of acquiring land will increase due to high compensation to be provided to land-owners.

“We will have to balance out both the land acquisition and impact of it on developers and consumers. For the growth of the sector, land acquisition challenges needs to be overcome and the new Land Acquisition Bill presented in the Parliament will be passed after taking all the concerns on board. This is expected to happen in the winter session of the Parliament,” she said.

Selja said that land is an expensive think and farmers and poor land-owners parting with it should get the right compensation. “The bill will try to make land owners partners in urbanisation and will adequately compensate all the persons dependent on the land. At the same time we will also try to balance out so that affordable housing segment is not impacted due to high cost of acquisition,” she said.

Further, she emphasised that the proposed bill will ensure that a certain per cent of every project would be allocated to the lower income group.

23/09/2011

Sunil Mittal dreams big on realty front-

Sunil Bharti Mittal is gearing up for a big splash in real estate. The goal is to be one of the top three realty companies in India, and Mittal has set up Bharti Realty Ltd as the beachhead to achieve it. Bharti Realty has started work on four projects including three mixed-use developments and a shopping mall in northern and eastern India. While residential developments are not a part of current activity, the management plans to enter the segment too, reports DNA.

Sources familiar with the development said Bharti Realty earlier focused on creating and leasing real estate for the Bharti group’s business operations in Delhi and the National Capital Region.

Among some of its existing developments include Bharti Crescent in New Delhi, which serves as Bharti Enterprises’ corporate office and Airtel Centre in Gurgaon. The company’s 5 lakh sq ft mall project -- called Pavilion -- in the heart of Ludhiana is already underway.

The company has also acquired three assets to develop high-end commercial and retail space at the Delhi International Airport Ltd’s hospitality district/Aerocity near the new T3 terminal of the Indira Gandhi International Airport in the capital. To be christened Worldmark, this integrated development is spread across approximately 1.5 million square foot and will be operational within two years from now.

The company has also acquired 6.7 acre on the Golf Course Extension Road in Gurgaon, where it will develop a shopping and office hub offering affordable and futuristic office spaces within an open and vibrant retail arena.

Christened Eldorado, this development will follow a mix of lease (for retail anchor tenants) and sale (for office and commercial space) model.

In Kolkata, the company is coming up with a 5 lakh square foot of mixed-use development in Rajarhat to be launched as Astra Towers.

Sources said Bharti Realty is currently identifying and negotiating for land parcels for similar developments across key tier I and Tier II cities.

In Mumbai, the company is negotiating for a land parcel of around 20-25 acre, which is expected to be concluded in a couple of months.

Address

C-164, 1st Floor, Sector/10
Noida
201301

Website

,

Alerts

Be the first to know and let us send you an email when Six D Real Estate Pvt. Ltd. posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Six D Real Estate Pvt. Ltd.:

Shortcuts

Share

Category