Those who have booked flats and are waiting for their flats to be ready are now highly worried over the nature of the builders. If you have a point of doubt why the buyers are worried over the nature of builders, you should see the terrible situation of the flat buyers in Noida.

Nearly 60 developers are found guilty of not paying the amount to the government or are default in their payment. The authorities warned these builders saying that they will not permit the builders to register any housing units till they pay their last penny to the government.

Though the tough action of the authorities has troubled the buyers, the authorities remain determined to go ahead harshly. The authorities have lost around Rs.4000 Cr.

Noida and Greater Noida development authorities have already sent many notices to the default developers asking them to pay the amount soon, none of the developers considered the notices seriously.

This negative attitude of the builders has really made the authorities to go harsher against them.

H K Verma, CEO (additional) at Greater Noida Authority said that the authority was not planning to block the registration. They had in mind the difficulties of the buyers.

Mr. Verma said that the authority will not issue certificate of completion till they pay the due amount. Default developers’ layout plans too will be rejected.

Among the builders who have due payment, some high reputed developers also include. One another reason for this stand point, is that the authority is currently undergoing a severe financial crisis. The authority has to find sufficient amount to refund the farmers to whom they have to pay the compensation amount.

National Green Tribunal (NGT)’s order has prohibited the use of groundwater for construction purpose. As an impact of this order, builders have halted their construction in Noida.

Builders have revealed that they will have talks with the Authorities. The NGT order was issued on last Friday. Many of the real estate builders who have many projects in Noida and G. Noida, stopped their construction and said that they would continue the work only once the authority clear out the issue.

Water is an inevitable component for construction and without sufficient amount of water no construction will be possible. As a result the builders will have to bring water from some other areas to resume their halted construction.

Builders opined that in such case the property prices will again be raised as they have to meet the double expenses- the cost of water plus the cost of transportation.

Hearing the statement of the builders the buyers have become nervous and tensed. The builders say that the hike of prices has become inevitable and there is no other option in front of them.

Some prospective buyers said that they are thinking of cancelling their booking on the basis of unaffordability. Yet some said that they are waiting for the response of the builder who has asked them to wait till a decision is taken.

However it seems that the price hike will be imposed and the overburden will be imposed on the buyers who have already booked some flats. If the prices are to be raised then that will really affect the buyers adversely and they may become unable to afford such properties in Noida. Anyway one has to wait a couple of weeks till the Authority decides on the issue.

However, there was some relief for the buyers as well, with the court striking down a review petition by a group of villagers who wanted the land acquisition quashed in a village where construction work had started. The ruling led to some farmers in Noida Extension taking to the streets and attacking housing projects. They blocked traffic for a few hours.

The court also stuck to its earlier ruling granting increased compensation as well as 10% of the developed land to farmers. Both the Noida and Greater Noida authorities had filed applications seeking review of the order dated October 21, 2011 which requires the NCR Board’s clearances for projects. The authorities argued before the three-judge bench of Justices Ashok Bhushan, S U Khan and V K Shukla that there was no need for such approvals but the bench was not impressed.

The court also dismissed applications to review the order on providing 10% developed plots to farmers. The authorities said development work in the area was almost complete and there were no leftover plots which could be given to farmers. Appearing for the farmers, Kamal Singh Yadav, opposed the review applications saying developed plots were available but were not being provided to farmers. On October 21, 2011, after hearing 491 petitions against land acquisition filed by farmers of 63 villages falling under Noida and Greater Noida, the Allahabad High Court had cancelled land acquisition in three villages where construction had not started.

The acquisition was undertaken by the authorities using the urgency clause in the name of industrial development. But later the land use was changed to residential and plots sold to builders. However, in 60 villages where substantial construction work was already done, the court did not quash the acquisition. Instead, it asked the authorities to increase compensation and provide 10% to the affected farmers.

Thus, while ensuring enhanced compensation to farmers, the court also took into account the interest of more than 50,000 people who had booked flats and houses in projects on the acquired land. Now, the two authorities have no other option but to take approval of NCR planning boardwhose meeting is scheduled later this month and pay enhanced compensation to farmers.

There is flurry of activity in the offices of realty firms as buyers are coming out to seal deals. The mood is likely to remain upbeat till the end of summer vacation of schools.

“I am sure that this positive momentum in the market will continue till summer vacation when even more end users are likely to clinch deals,” Samir Jasuja, the chairman and managing director of Prop Equity, says.

“After Navaratra, summer vacation in schools is regarded a good time for realty, as people wait for the end of term of their children to shift houses or buy one. The summer is a time of transfers and relocation; a time of school admissions and hunting for a house near schools, so that children can have an easy commute,” Jasuja says.

Gaurav Mittal, the managing director of CHD Developers, says: “The mood is really upbeat in the market with people finalizing deals in property. While market warms up during Navaratras even during bad times, this Navaratra is different. The quantum of deals is unexpected, though a welcome development.”

Jasuja says, “Notwithstanding a slew of legal battles, buyers are taking a final call on their new purchases in Noida and Greater Noida.” A report of Prop Equity says that the current financial year has proved to be good for almost all the big cities of the NCR including, Noida, Gurgaon, Ghaziabad, Greater Noida and Faridabad.

Sanjay Khanna, the director of Kailash Nath Developers Pvt Ltd, says: “I hope the worst is over for realty market and transactions take place till the end of summer vacation in schools. This Navaratra is proving to be very auspicious for the realty world. I know that NRIs, too, find the summer months an ideal time to return to their roots in order to buy property. Their search for a property also starts during the summer. This is the time when they visit India in order to meet their relatives and, side by side, also look for nice properties. They do not mind paying slightly more for good properties.”

Realty watchers say that April-June period records a high quantum of property transactions. Realty market picks pace from Navaratras. This is a time when end users finalize their deals and those looking for new homes on rent, also shift. The summer is also a time when the resale market picks up nicely.

Vijay Jindal, the chairman and managing director of SVP group, says: “It is a hectic period from Navaratra and through the summer months. A lot of transactions take place at all levels.” He says that during the summer, buyers give priority to those projects which are close to good schools.

If the Patwari pact stands, it will save 20,000 under constructed houses in the village. Generally, authority takes months to pay compensations but in it’s desperation this time the authority is issuing cheques in hurry.

The authority, three years ago acquired 589 hectares of land in Patwari at Rs 850 per sq m. About 15% of farmers have not accepted the compensation. Now, the compensation has been hiked to Rs 1400 per sq m. Of Rs 550 hiked, Rs 290 will be borne by the builders. GNIDA will give the increased cash compensation to only those farmers who agree to the deal through affidavits, stating they will withdraw petitions and will never challenge the deal in court.

The CEO said four bighas of land belonging to the village head would be regularized and not termed as encroachment. The discussion between the authority and the Patwari village’s farmers failed on the issue of compensation. The authority wants to acquire the land and pay according to new acquisition and rehabilitation policy which allows the authority to give farmers bigger developed land plots, Rs 200 more per sqm as cash compensation, besides annuity payouts.

An official of Jaypee said, “If farmers are moving court, we’ll go by the law of the land. As for the security of our projects it is the responsibility of the administration”. However, the official hope that at some stage farmers would understand that the racing project would promote tourism and generate more employment which would ultimately benefit the local people.

The process of out-of-court settlement is on. If the farmers are paid more, land prices automatically will go up. If there is no out-of-court settlement, land has to be reacquired under the state’s new acquisition policy, which leaves less saleable land with the authority.

Balwinder Kumar the Chairperson of Noida Authority said, that the authority has announced its willingness to negotiate with Noida farmers. The CEO Rama Raman says, the court’s direction are welcome and they will immediatly start talking to the villagers. The Authority now wants to reassure the aggrieved villagers that we are on their side, and willing to sort out all their issues.

The court directions will benefit all the involved parties. All are hopeful that the Authority will sort out the land row at the earliest.

So to lure customers they are using various techniques. To attract customers in real estate sector requires great offers from property dealers. And real estate dealers are giving those offers to buyers. Recent case of great real estate offer is in Noida. In Noida, one real estate group is giving free BMW car to customers who buy its luxurious flats in Greater Noida Golf Course Complex. Not only you will get free BMW, you will also get free membership to Golf course and social club along with 2 free car parkings there.

These luxury flats are specially built flats for Indian riches. Flats have been developed keeping in mind CEOs and MDs of big MNCs . The price for these flats ranges from Rs. 3 crore to Rs. 4.50 crore. But there are few requirements to be completed before you get free BMW when you buy flat in Greater Noida. Customer will be asked to pay 40% of the amount to free BMW offer from Noida’s real estate developer. And only those who apply under this scheme will avail this real estate offer. And if you cancel the flat booking after you get free BMW, price of BMW will be taken from your advanced payment and leftover will be given back to you.

So the thing is sure. This is a mean to attract real estate customers at the time when whole real estate sector around the world is going through a big slump.

“We are set to set up SEZs at Greater Noida, Haryana and Rajasthan and are organising a roadshow in the holy city of Varanasi to let the people know about our plans at their native places,” Ansal API Vice-Chairman and Managing Director Pranav Ansal said in a statement here.

The company is developing a 2,000-acre township, besides an IT SEZ in Lucknow. The company has also launched a 2500-acre township near Greater Noida.

Besides, it has launched residential and commercial projects in Agra, Meerut, Lucknow, Greater Noida and Ghaziabad. It had last month announced plans to invest Rs 900 crore in a 250-acre engineering SEZ at Sonepat, Haryana.

Mr. Ankit Goel, Projects director, Suncity, told, “Through this initiative, we plan to create a niche brand identity for Suncity malls.” With over 400 new malls slated to open in the next two-three years, differentiation is becoming the key, not just to attract shoppers but tenants too.

Apart from size, another unique feature of Jewel of India would be exclusive space for ethnic products, much on the lines of government-run Delhi Haat. Mr Goel added “It will provide a traditional flavor to the malls. We strongly believe that these products symbolize the true essence and culture of our society”. However, Mr Goel denied that they have similar plans for their existing, smaller Suncity malls.

Currently, the company has three shopping malls — Cross River, North Square & Vasant Sqaure — in Delhi, which are all spread over less than a million sq ft. Suncity Projects, a consortium of the Essel Group, Action Group and Odeon Builders, intends to tap the capital markets though an initial public offering in the second half of 2009.

A new high-rise residential project Aamantran is launched by Eldeco Infrastructure and properties limited. It is expected to be completed by 2011. Its location is strategic. It is on the vantage point of Greater Noida Road and Faridabad-Noida-Ghaziabad(150m wide) Corridor and it is easily approachable from NH 24. Golf course is only about 10-15 minutes away. The nearest Metro station is at Sector 32, just a 10 minute ride. It is likely to be completed before the scheduled time i.e. April 2008. Sector 18 market is just at 20 minute drive.

A Hugely successful and renowned infrastructure giant, IVRCL Infrastructures & Projects Ltd, has an urban development arm, that is, IVR Prime Urban Developers Ltd. They have launched their project, Scarlet, with a host of facilities.

Gaur Grandeur has also entered into Sector 119 with its home plans and with a long list of facilities. It is hardly 7 km away from proposed Metro Station at Sector 32.

Amrapali Group has presented the biggest residential project, Amrapali Platinum. It also has good connectivity. Metro-station and Fortis Hospital are about 5-7 minutes drive. Faridabad-Noida-Ghaziabad express highway is about 2-3 minutes drive. It takes 10-15 minutes to drive from Atta Market, sector 18.

So, now people have lots of choice and they can choose home of their preference according to their budget. They can compare the facilities provided by different projects and then can finalize the home of their dreams.

Mr. Sanjeev Srivastava, chief executing officer (CEO), Crossings Infrastructure, says: “NH-24 absorbs the influence of Delhi and the neighbouring ‘hot township’ of Indirapuram. We landed here after realizing a logical growth potential in the area. The highway has a number of colleges. If the highway is being widened, it offers a lot of scope for inhabitants and residents of these future townships”. These townships promoted by single firms or consortium of builders say that they are offering premium facilities within reasonable range

Parsvnath had several project in hand. Parsvnath would be focusing on development of SEZs, hotels, highways, retail and telecom.

Parsvnath’s application for the unified license was rejected by the Department of Telecom last week. So they can’t make their entry in telecom business. On this point, Mr. Jain said, “We will get into the telecom sector and our investment will be in the range of up to Rs 20,000 crore”. However, he has not explained the strategy and said that the company is watching the situation.

On the issue of other businesses, Jain said the company would enter the retail business in a big way and would soon announce its roadmap. The company is in talks with some of the major international retailers. Parsvnath is also believed to be in talks with two French majors Carrefour and Club Casino to set up retail chains in India. Jain said that “we are sure to open our first retail store in 2008 and possibly will start with Delhi”. Jain said that the roll out of the retail outlets would start from this calendar year itself.

On the topic of types of retail stores and branding, Jain said that the details were being worked out but the stores would be in large formats such as complete food bazaar and as far as branding was concerned, the company would take a decision after finalizing the overseas partner. The company owns over 14 million square feet of land for retail business in 48 cities and that would be an advantage for Parsvnath as all other prospective retailers would have to bank upon them for space.