Undeterred by stiff opposition from private developers and builders, the Union housing ministry is pushing hard to bring the real estate regulator bill — aiming to protect homebuyers — in the current session of Parliament.

Housing minister said on Sunday that the bill was expected to be soon brought up before the Cabinet for its consideration before being introduced in Parliament.

The government is looking to set up a tough regulator for the realty sector. The bill is expected to have provisions of even jail terms for developers if they put out misleading advertisements about projects.

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Bill to be introduced soon aims to protect homebuyers by setting up tough regulator Provisions of even jail terms for developers for putting out misleading ads Regulator to ensure every project is registered and has all required clearances

Bill: No housing ad before plan nod

It will be interesting to see if the legislation, which has been pending since 2009, becomes a reality before the 2014 general elections.

The consumer-friendly law was again returned from the Cabinet after objections were raised by some ministers. The legislation will clearly define ‘carpet area’, and private developers will not be allowed to sell houses or flats on the basis of ambiguous ‘super area’ .

A real estate regulator in every state will ensure that private developers get all projects registered before sale of property and after getting all necessary clearances — addressing a major concern of buyers about incomplete or fraudulent land acquisition and pending clearances.

The bill has proposed builders would not advertise or start a housing project before getting all necessary clearances and reporting before a real estate regulator.

The developers cannot collect any money from buyers before completing all necessary permits to start construction on the project.

The minister said builders wouldn’t be allowed to use pictures of housing projects in foreign countries to lure buyers while advertising a project . They will have to use pictures reflecting the actual project which will be delivered to homebuyers.

Source: The Economic Times, Delhi/NCR

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Rajkot Wins ABP News Award for Law & Order,Women Safety,Cleanliness & Sanitation for the   Year 2013.

The ABP News-Ipsos Best City Research and Rewards running for the first time is the only consumer validated survey and celebrates the best of India’s cities and acts as a benchmark for excellence.

“Our country’s population is 121 crore and 38 crore live in cities. This award function is a small initiative to better the lives of citizens living in these cities. Our dream is to see every city shine in the country as a ‘Best City’,”

Rajkot bags three awards

Gujarat’s Rajkot has been seen as city with the Best Law and Order. It also has bagged an award for Women Safety and also for Cleanliness and Sanitation.

The award function was attended by dignitaries from India’s top political parties like Manish Tewari, Kapil Sibal, Rajnath Singh, Nitin Gadkari, Praful Patel, Ravishankar Prasad, Shahnawaz Hussain, Lalu Prasad Yadav, Sandeep Dikshit, Ramvilas Paswan and Amar Singh.

Many of them presented their views on infrastructure development in major cities, urban planning, improving cleanliness and sanitation, lack of resources, challenges before the state government, change of land use, migration of youths to cities.

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Ahmedabad is the commercial capital of Gujarat and one of the rapidly growing tier II cities of the country. Occupied with different kinds of industries and famous educational institutions, this metropolitan city is the home of huge population that seems to be increasing day-by-day. As a result of this everincreasing population of the city, the demand for commercial and residential property in Ahmedabad is always on high.Housing real estate segment mostly contains of flats in Ahmedabad, apartments in Ahmedabad, serviced apartments in Ahmedabad, bungalows in Ahmedabad, penthouses and townships in Ahmedabad. While saleable commercial complexes comprise shopping centers in Ahmedabad, movie theater complexes in Ahmedabad et cetera. That means a general growth is in full swing all over the city.

Ahmedabad is a large property as well as if you want to purchase assets in Ahmedabad then it will certainly present you high-quality conveniences be it edifying or accommodation. In short your assets will be among the finest state-of – art designed assets. However the costs of assets in Ahmedabad fluctuate depending on the locality as well as the conveniences presented and also they stay on unpredictable from time to time. Buying assets in Ahmedabad is not that tough as now you can t simply get all the information on the net.

Therefore, it won’t be incorrect to announce that buying possessions in Ahmedabad is no more a complicated job, as real estate mediators and expert goods sellers are there in each area to formulate your job easier. Therefore this is the most excellent time to purchase goods in Ahmedabad and plan it as per your requirements and necessities.

The real estate marketplace in Ahmedabad is a prompt paced one. The assets are screening a quick glide along with all set to surge. The leading city in the state of Gujarat with the inhabitants of approximately fifty three lakhs is the domicile of a flourishing location for architectural and road and rail network growth in Gujarat. The city for the Manchester of the East, Ahmedabad is well thought-out as energetic centre of teaching, edification, information technology and the purchaser heaven.

There are as well several tourists who are magnetized by the attractiveness of the city. And the media business too is climbing latest heights. Between these all the real estate business is bound to be increased. And because of its name in the textile business at intercontinental stage the real estate and assets in Ahmedabad is increasing as a promising field.

The marketable real estate in Ahmedabad is receiving a boost up as various financiers are getting attracted in selling assets in the city. Ahmedabad property marketplace is well related with the rise in number of apartment house buildings and the retail passages.

 Investment in Ahmedabad Property

Ahmedabad real estate market is bustling with real estate activities these days. Buying property in Ahmedbad is truly profitable as capital value of residential and commercial properties in Ahmedabad is moderately low, reasonable and more affordable when compared to other cities of the country. This is one of the major reasons for more and more people being interested to invest in Ahmedabad properties. Not only Indians, the city is also attracting NRIs and NRGs for property investments. After US sub-prime crisis and with realty still going cheap in the city, Ahmedabad has now become hot property for NRIs. When it comes to NRI property investment, the city is at par with major investment areas of the country like Mumbai and Goa. Seeing this increased interest for investment in Ahmedabad property a large number of real estate developers are now reverting towards Ahmedabad as focal point for constructing the real estate projects. Leading all of them is Pacifica Companies, a globally recognised real estate company that puts in best efforts along with long three decades of experience to develop the realty sector of Ahmedabad. With its state-of-art models of hotels, residential projects and commercial properties, this real esate builder has changed the face of real estate scenario of the city.

 Residential Properties in Ahmedabad

Buying residential property in this hub of major industrial and educational activities is certainly a wise option. The city provides better employment and education opportunities to people all over the country due to which the number of migrators shifting to the city is constant on increase. As a result of this everincreasing migration, residential properties in Ahmedabad are selling like hot cakes. Residential property in Ahmedabad mainly comprises of flats in Ahmedabad, apartments in Ahmedabad, bungalows in Ahmedabad and townships in Ahmedabad. Sarkhej-Gandhinagar highway, Sanand, Thaltej and Prahladnagar are some of the favourite hot spots for development of residential projects in Ahmedabad. Accomodated with trendy facilities and modern amenities like swimming pool, jogging park, lawns, clubs, gyms, children play areas and spacious car parking, the residential projects in Ahmedabad are catching eye of lot of investors who are looking to invest in luxury homes in Ahmedabad. Buying luxurious apartments, luxurious villas and affordable bungalows in Ahmedabad is the best option to avail all these luxurious amenities at best affordable prices.

Commercial Properties in Ahmedabad

Ahmedabad offers great infrastructural base and excellent opportunities for commercial purposes. From investment point of view Ahmedabad certainly has quality commercial projects in store. Shopping malls, office spaces, retail spaces, hospitality centres are the best investment options for one who is looking to invest in Ahmedabad commercial property. This is the right time to invest in Ahmedabad retailing sector that is very much on the upswing in the city with the entry of big retail chains like Star India Bazzar, Pantaloon and Big Bazzar into retail market of the city. Thus it will not be wrong to say that investing in Ahmedabad is a profitable and equally wise option.
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MUMBAI: Godrej Properties, the real estatedevelopment arm of the Godrej Group, has inked a joint development agreement with a housing society in Malad suburb of Mumbai, the company said in a release.

The developer is planning to develop a luxury residential project through redevelopment of Sunder SangamCooperative Housing Society spread over 1.3-acre in Malad west.

The redevelopment project will offer around 95,000 sq ft of free sale area to the company, while existing 118 members of the society will also be rehabilitated as part of the project.

“This project fits well with Godrej Properties’ strategy of building our presence in high quality locations across Mumbai. We hope to create an excellent luxury development in this project,” said Pirojsha Godrej,Managing Director & CEO, Godrej Properties.

As part of its growth strategy, Godrej PropertiesBSE -0.51 % has been entering into joint development agreements with housing societies in Mumbai. Under these redevelopment agreements, real estate developers get access to free sale area in lieu of providing rehabilitation to society members in the same project.

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