VATIKA LAUNCHES LIFESTYLE HOMES – APARTMENT ON NH-8 GURGAON,
 
 
Site Area:   20 acres
Type of Development:  Gated Group Housing Community
                      High Rise with G+15 blocks
Type of Units: 1BR, 2BR, 3BR & 3BR+S
 
Super Areas:  1BR        : 650 sqft.
                      2BR        : 930 sqft
                      3BR         : 1143 sqft.
                      3BR+S   :  1277sqft.        
 
Vatika Lifestyle Homes are inspired by Singapore Style Condominiums in their architecture and lay-out design. The apartment area has been optimized in a way that every square foot of area counts towards effective utilization of space. Smart, Trendy, Compact, Contemporary and Young at Heart are the catch words that define Vatika Life Style Homes. The Apartment towers shall be set amidst immaculately land-scaped greens and the residents of Lifestyle Homes shall enjoy the benefit of a fully equipped Health Club, Community Hall, Crèche, Retail, Courts for Out-door Games, 24×7 Security Services.
 
Specifications:
 
100%   Power back-up for common services.
Adequate power backup for each apartment.
Living / Dining / Bedrooms: Vitrified tiles flooring, Paint distemper
Toilets: Anti-skid ceramic tiles, Branded sanitary fittings and fixtures, Pattern glazed tiles on walls.
Kitchen: Granite counter, stainless steel sink, ceramic tiles on the wall over counter.
Electrical: Complete electrical wiring with branded sockets & switches.
Doors & Windows: Flush doors with wooden frame, Window panes with glazed aluminum.
 
Sale Prices:
 
1BR        : Rs. 16,60,000/-
2BR        : Rs. 25,60,000/-  
3BR        : Rs. 31,00,000/-  
3BR+S   : Rs. 34,70,000/-
 
* Inclusive of EDC/IDC, Power back-up and Club Facility.
 
PLC (Preferential Location Charge) / Other Charges :
 
Ground Floor- 4th Floor: Rs.15000/- (1BR)
Ground Floor- 4th Floor: Rs. 20000/- (2BR)
Ground Floor- 4th Floor: Rs. 25000/-(3BR)
IBMS: Rs. 50 per sq. ft.
Car Parking : Rs.300000/- (Covered and reserved)
 
For more information kindly contact through the no.s given below or through e-mail 9810359154 or info@mastghar.com

Raheja Srishti Gurgaon Basic Sale Price :-Rs3275 per sq ft

• Special Discount till official launch of project :-Rs300 per sq ft
• PLC :-Rs100 per sq ft (park & pool facing)
• EDC + IDC :-Rs315 per sq ft
• IFMS (Interest free maintenance security) :-Rs100 per sq ft
• Club membership :-Rs1,00,000/-(only Rs50,000 to be paid now, rest later).
• Covered car parking :-Rs3,00,000/-per bay.
• Open car parking :-Rs2,00,000/-per bay.
• Back to back / double deckercovered car parking :-Rs4,00,000/-per bay ( Cost of double deckerapparatus to be borne by customer).
• One car parking mandatory.

• Special Discount till official launch of project :-Rs300 per sq ft

• PLC only on ground floor :-Rs200 per sq ft.

• EDC + IDC :-Rs315 per sq ft

• IFMS (Interest free maintenance security) :-Rs100 per sq ft

• Club membership :-Rs1,00,000/-(only Rs50,000 to be paid now, rest later).

• Covered car parking :-Rs3,00,000/-per bay.

• Open car parking :-Rs2,00,000/-per bay.

• Back to back / double deckercovered car parking :-Rs4,00,000/-per bay ( Cost of double deckerapparatus to be borne by customer).

• One car parking mandatory.

MastGhar.com Sources: A report of Ernst & Young and FICCI on the real estate India  says that the leading cities in India have experienced gross reduction in speculative buying in the realty market. It has declined to 5% from the earlier 30 to 40% and the real end-users contribute to almost 80% of the total sale of the real estate. 

The report also says that it has become difficult for the investors or the speculators to gain significant returns from the Indian real estate market because of the skyrocketing prices of real estate. This has resulted in a considerable shift in the profile of the buyers in the past 3 to 4 quarters.  

As per the report published in a real estate summit, previously 30 to 40% of the total sales used to come from the speculators. 

The non-genuine buyers have been categorized between the long-term investors and the speculators by the report. The groups of buyers who will sell their real estate properties within coming one and half year after they purchase are defined as the speculators by the report. But the long-term investors hold their real estate properties for 3 to 5 years before they intend to sell it.  

Though, in the present scenario the contribution from the speculative buyers to the total sale in real estate is as low as 5%, the long-term investors buying real estate properties in the premium segment of Indian realty market is contributing to nearly 15% of the total sales. 

The developers operating in the leading cities feel that the genuine end-users are contributing to almost 80% of the total sales in their existing projects. From this report it is evident that the real end-users have exceeded the contribution of the investors in the Indian real estate market.

MastGhar.com Correspondent: It seems that the deceleration of property sales has finally touched the smaller towns as well after affecting metro cities in a big way. The smaller towns have witnessed 25% downfall in the demand for the housing sector during the period February to July, 2008. As per the report of an industry lobby, the key reason behind the downfall is the sharp rise in the cost of home loan.

As per the study report of the Associated Chambers of Commerce and Industry of India (Assocham) the dealings in the realty market have reduced almost by 25% mostly in the tier II as well as tier III cities within this period.

Last year, during this period, the growth in the property transactions registered in these smaller towns was nearly 22 to 23%.

Mr. D.S. Rawat, the Secretary General of Assocham stated that nearly 15 million people across 30 to 40 tier II and tier III cities could not purchase real estate properties as rising inflation and rate of interest squeezed their budget. This also affected the overall interest of these probable buyers.

He also stated that majority of the developers of the real estate market are compelled to postpone their projects due to the higher cost of borrowing fund.

The major real estate developers like DLF, BPTP, Omaxe, Parsvnath, and Unitech are developing several projects in the tier II and tier III towns and the Assocham study is conducted on the basis of their feedback.

In addition to the higher cost, the scarcity of the elemental raw materials like cement, steel, and bricks as well as the shortage in the power supply are also leading to excessive delay in the completion of the projects.

The chamber has requested the government to set up a Real estate investment trusts (REITs). The REITs are expected to bring class of institutional investors to a greater extent, who can extend a strong support to the real estate market in India.

As per Assocham, REITs will be able to extend assistance for developing Commercial mortgage backed securities (CMBS) market as well as form a source for owing money in cheaper rate for the commercial real estate market.

MastGhar.com Sources: The real estate major Parsvnath Developers unveiled today a new commercial project. The project in Sonepat involves Rs. 120 crore investments and spread over 3.7 lakh sq ft saleable areas.

The developer announced that this project on 16,214 yards is likely to be accomplished within 30 months.

This commercial property is named as Parsvnath City Centre and will consist of multiplexes, eateries, a center for entertainment, and a shopping mall.

Mr. Pradeep Jain, the Chairman of Parsvnath Developers identified Sonepat as a showcase of a modern and active city, which has revealed significant growth in almost all industries. He also said that the introduction of Parsvnath City Centre will further expand the presence of the group in the city.

At present an integrated township consisting of group housing and shopping mall is being developed by the real estate giant in Sonepat.

Besides this the real estate major is engaged in other 114 projects involving 211.32 million sq ft land in 51 cities spread over the country.

MastGhar.com Reporter: Today, the major real estate developer Parsvnath Developers Ltd announced launch of a new group housing project. The project will be developed at Indore in Madhya Pradesh, and the developer expects a realization of nearly Rs. 60 crore from this project.

The company declared that the estimated realization from this project is nearly Rs. 60 crore and the project is planned to be over by 2011 end.

This 6.3-acres group housing project named as ‘ Parsvnath Premier’ is the part of an integrated township spread over 200 acres. The developer will built 300 units across 4.11 lakh sq ft saleable area.

Parsvnath is also developing an IT/ITES SEZ (Special Economic Zone) in an area of 76 acres within the township. The centre has already notified the SEZ.

Development of another township spread over 100 acres at Ujjain in Madhya Pradesh is in progress by the developers.

The number of projects being developed by Parsvnath across India is as high as 114 spread over the saleable area of 211.32 million sq ft.

In 2008 fiscal year the developer earned Rs. 424.39 as net profit and the consolidated revenue posted is Rs. 1837.12 crore.

The Haryana Regulation of Property Dealers and Consultants Bill was passed by the Haryana Legislative Assembly. This bill will protect the interests of the mass seeking the services of property consultants, real estate agents, and the property dealers.

Savitri Jindal, the revenue minister of state, tabled the bill on 2nd September in the assembly. Subsequent to the amendments in Clause 17(1) and 17(2), the bill was passed.

After the implementation of this act, without acquiring the license, no property dealer or his agent or representative will be able to make any property related deals like purchase, sale, exchange, making lease-contract between the seller and the buyer, the lessee and the lessor, and tenant and landlord, including the rent collection in respect to the immovable properties in any manner.

The bill also states about the necessity of a compulsory application along with fee to the collector in the set form for the renewal or grant of a license.

The provisions of the Bill put restrictions on direct or indirect purchase of any immovable property by the property dealers or their representatives for which they may receive commission from the property owners, without the prior approval of collector.

Moreover, the bill also explicate that the collector will take the decision on the appeal put by an aggrieved party involved in the deal on any disagreement occurring between any of party and the property dealer as per the act or the set of laws under the act. The aggrieved person should put forward application to the collector on the prescribed manner and form.

As per other provisions of this Bill, a person will be punished with imprisonment and fine up to Rs. 50000 in the first instance of breaking the provisions of the Act or any law made in the Act. The fine will be increased to Rs. 1 lakh and even up to Rs. 1.50 lakh in the second and successive convictions. This move has been welcome by the property dealers in Haryana because the Bill intends to cut the unlimited burgeoning of the property dealers in the state.

Kamal Jindal, the general manager of Berkley Realtech, welcomes the bill and states that besides restricting the uncontrolled escalation in the number of the property dealers in the state the bill will add its contribution toward the revenue of the state in a large way because the property dealers now require to acquire license by paying the necessary fees.

Anand of MastGhar.com, India Property Consultant Company  states that the transparency will be sustained in sale deeds, which will help the sellers as well as the buyers. In the meantime the Indian Stamp Bill 2008 or the Haryana Amendment Bill also has been approved by the Haryana assembly.

As per the bill, the stamp duty rate will decrease to 5% from 6% on sale deeds and conveyance deeds.

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PRICE LIST 
 

Note: Price and availability are subject to change.

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 MastGhar.com Resources: For buying a house in Delhi Rs. 20 lakh is considered to be a very small amount. But in this budget, you can have few options in the suburbs like Faridabad, Ghaziabad, and Greater Noida.

There are quite a few residential apartments coming up in Ghaziabad on NH 58. A two-bedroom flat with a built-up area of 1125 sq ft. will cost you nearly 18 lakhs. On the highway, Ajnara Farms have put up two-bedroom apartments for sell. But these flats of 1000 sq ft built-up area are selling at Rs. 20 lakh price.

Lal Kuan also offers some choices but the place lacks infrastructure. Roads are bad in Lal Kuan but the houses will cost you more than the ones along NH 58. The apartments in Lal Kuan may cost you up to Rs. 20 lakhs, and with the registration cost, the sum total will reach Rs. 21 lakhs. Triveni is developing Triveni Height in Lal Kuan, where you can get apartments at Rs. 21 lakhs. But majority of the projects of Triveni are getting delayed, and you may not get the delivery on time. If you are looking for additional space, you need to be ready to spend more money. One-bedroom small flat with a built-up area of 550 sq ft in Vaishali’s sector 6 will cost you Rs. 16 to 17 lakhs. Here you will have proper infrastructure with markets around and fairly developed road connectivity.

Besides Ghaziabad, you can get apartments within your budget in one more satellite city of Delhi, that is Greater Noida. A 2-bedroom apartment in Ashirwad Apartments in the Alpha One sector will cost you Rs. 17 lakhs. The apartment is strategically positioned with 600 sq ft built-up area. Pari Chowk is only one kilometer away from this area.

Pankaj Dogra of Ujjala Associates says that the buyers of this category can search in Faridabad too. Only the sectors 29 and 18 of HUDA have choices in this category. In sector 29 the LIG floors of 450 sq ft are available at Rs. 17 lakhs to 18 lakhs. You will get independent houses in the sector 18. Interestingly, these houses are built on 35 sq yd to 50 sq yd plots. For these property banks will offer loans to you. You can get builder floors in Springfield Colony of sector 31. A two-bedroom apartment will have 500 sq ft cover area. But in this area the properties are not being registered as the separate floors by HUDA.