A lot of companies are advertising for property citing nearness to Dwarka expressway corridor.

Shilas, Indiabulls Centrum Park and Ramprastha Edge Tower come to mind.

Does anybody have news on when this construction will start and when it is likely to finish? Has the contract been awarded and to whom?
Date of completion and start of operation will be vital news for evaluating the pricing of flats sold in this corridor.

Last I heard was that a few houses in Palam Vihar were slated for demolition for this expressway in May June 09 or thereabouts.
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  • Originally Posted by ashok1984
    Sir,

    I guess you did not get my point. Updates means development of dew, which is different from viability or non viability.

    Some users spend their energy on commenting about viability or non viability of investments of other users which i feel is vague & irrelevant.


    I did get your point . Having different threads means that information which is getting consolidated gets spread & also these threads r difficult to maintain, as their is cross posting . Thread meant to discuss DEW viability & issues would have update posts and vice versa .

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  • Originally Posted by rohit_warren
    So it proves that prices here are over hyped and must correct to the circle rates.
    Or
    Another attempt by the builder babu lobby to earn some black money


    Sir,

    Users will get benefited because while doing registration of conveyance deed, stamp duty will be calculated at circle rate. Lower circle rates mean payment of less stamp duty by purchasers which i guess shall be our benefit.

    Circle rates do not mean that they reflect the market value of that area. Market Value of a property is an issue & choice of two individuals i.e. seller and buyer. Government is only concerned with the fact that it should get its stamp duty money as per circle rates.

    Another example is that :-

    Current revised rates of HUDA residential plots in Sector 21 Gurgaon is Rs 32,300/- per sq yds but if you will go around searching for a plot at that rate, you will never be able to buy anything in your lifetime because market rates inspite of slowdown, are way more than the circle rates.

    Regards.
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  • Originally Posted by ashok1984
    Sir,

    Users will get benefited because while doing registration of conveyance deed, stamp duty will be calculated at circle rate. Lower circle rates mean payment of less stamp duty by purchasers which i guess shall be our benefit.

    Circle rates do not mean that they reflect the market value of that area. Market Value of a property is an issue & choice of two individuals i.e. seller and buyer. Government is only concerned with the fact that it should get its stamp duty money as per circle rates.

    Another example is that :-

    Current revised rates of HUDA residential plots in Sector 21 Gurgaon is Rs 32,300/- per sq yds but if you will go around searching for a plot at that rate, you will never be able to buy anything in your lifetime because market rates inspite of slowdown, are way more than the circle rates.

    Regards.

    Maibaap aub ye bhi bata do circle rate kam kyu hue hain?
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  • Hi All,

    Whats the rate in sector 108, I got an offer of 5300 psf from the builder (without any serious discussion, so it might be reduced to 5200 or so) for 2 BHK.

    Can anyone guide?

    Thanks
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  • Originally Posted by rohit_warren
    Maibaap aub ye bhi bata do circle rate kam kyu hue hain?


    Reasons :-


    Due to slowdown in real estate market. Due to lesser transactions.


    Finally to improve health of real estate sector and to help common man, at the end.

    Its not rocket science. I guess.
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  • Originally Posted by thenewbie
    Hi All,

    Whats the rate in sector 108, I got an offer of 5300 psf from the builder (without any serious discussion, so it might be reduced to 5200 or so) for 2 BHK.

    Can anyone guide?

    Thanks


    Try to negotiate for another 100-200.. Finally it may end up at around 5000-5100...
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  • Originally Posted by ashok1984
    Reasons :-


    Due to slowdown in real estate market. Due to lesser transactions.


    Finally to improve health of real estate sector and to help common man, at the end.

    Its not rocket science. I guess.

    No that is not the only case.
    When you pay higher price than the declared amount in registry value you pay in cash thus generating black money, hence I said earlier that it an attempt by builders babu lobby to generate black money.
    Moreover the market value of a property is deemed at registry value so either you pay the stamp duty at actual amount or avail home loans on much lower value.
    This is a win win situation for builders and babus if someone has black money they will go for lower stamp duty but if someone wants to avail higher home loans then he has to pay higher stamp duty.

    Yes this will encourage investors with black money to lap up some properties as 6% x 2 stamp duty is too much if a property is flipped.
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  • Originally Posted by rohit_warren
    No that is not the only case.
    When you pay higher price than the declared amount in registry value you pay in cash thus generating black money, hence I said earlier that it an attempt by builders babu lobby to generate black money.
    Moreover the market value of a property is deemed at registry value so either you pay the stamp duty at actual amount or avail home loans on much lower value.
    This is a win win situation for builders and babus if someone has black money they will go for lower stamp duty but if someone wants to avail higher home loans then he has to pay higher stamp duty.

    Yes this will encourage investors with black money to lap up some properties as 6% x 2 stamp duty is too much if a property is flipped.


    What you are trying to say does not make any sense in present circumstances, I will tell you how.

    Suppose X an allottee is allotted a unit by builder named Y * Rs 4000/- per sq ft. X pays all his money as per demanded by the Y against duly executed builder buyer agreement. Now, how will X be able to presume during those 4-5 years of construction of project that what will be the circle rate at the time registration of conveyance deed, to gain benefit of black money as suggested by you? Can anyone predict future of market? I don't think so. Even if i take your assumption to be correct, even then flat buyer agreement is the reference point for drawing up of conveyance deed because for payment of every instalment, X will demand receipt and Y will give that. Why would X not force Y to put all the payments by him in conveyance deed specially when he has paid his hard earned money, else Y could blackmail X in future for non payment of all instalments? Even vice versa, in case of non mentioning of an instalment in conveyance deed, Y could sue X for misappropriation of his funds alleging X took money from Y but just gulped it.

    Btw, I dont know about other states , but in Haryana , it is mandatory for builders to publish licence no. of their project and number of units in advertisements. And most of them launch their project on online portals also with quoted rates. So, this allegations of black money generation is just baseless in present scenario. Lastly, nowadays, in every conveyance deed of value of Rs 50,00,000/- TDS deduction of 1% is mandatory.

    So, from looking at any point of view, your logic is just vague in the current market situation.

    Have a nice day.
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  • What is truth? Jawaharlal nehru once said truth is what one believes about something.

    I am sure that you have written what you believe to be true and let me deduce from your posts that your are novice in the real world property transactions.

    Everyone in this thread knows I have stakes in laldora property in Delhi now I get them registered at the circle rates but I paid much higher in cash.

    Same thing in gurgaon as well there is huge inventory of ready projects some of them have completion certificate as well so they can get registered too.
    So if you have huge amount of cash you walk in builder office tell him you are buying with cash the builder is happy because when he sells at lower price he incurs loss and no one can question him because he is selling at circle rates, he keeps the difference in cash which is used later by him in getting work from babus done.
    Now the buyer pays less stamp duty same good amount and since he has paid part in cash or black money he will not have any issues in selling at the circle rates and keeping the profits in cash.
    Another aspect which is used to make black money white is buy at lower stamp duty sell later at higher all white deal shift money to infra bonds and bingo you have all white money after five years without paying a single penny in tax.

    There are many things which you need to learn about re transactions
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  • Originally Posted by rohit_warren
    What is truth? Jawaharlal nehru once said truth is what one believes about something.

    I am sure that you have written what you believe to be true and let me deduce from your posts that your are novice in the real world property transactions.

    Everyone in this thread knows I have stakes in laldora property in Delhi now I get them registered at the circle rates but I paid much higher in cash.

    Same thing in gurgaon as well there is huge inventory of ready projects some of them have completion certificate as well so they can get registered too.
    So if you have huge amount of cash you walk in builder office tell him you are buying with cash the builder is happy because when he sells at lower price he incurs loss and no one can question him because he is selling at circle rates, he keeps the difference in cash which is used later by him in getting work from babus done.
    Now the buyer pays less stamp duty same good amount and since he has paid part in cash or black money he will not have any issues in selling at the circle rates and keeping the profits in cash.
    Another aspect which is used to make black money white is buy at lower stamp duty sell later at higher all white deal shift money to infra bonds and bingo you have all white money after five years without paying a single penny in tax.

    There are many things which you need to learn about re transactions


    Vagueness again. Not interested. Thank u.
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  • Originally Posted by rohit_warren
    What is truth? Jawaharlal nehru once said truth is what one believes about something.

    I am sure that you have written what you believe to be true and let me deduce from your posts that your are novice in the real world property transactions.

    Everyone in this thread knows I have stakes in laldora property in Delhi now I get them registered at the circle rates but I paid much higher in cash.

    Same thing in gurgaon as well there is huge inventory of ready projects some of them have completion certificate as well so they can get registered too.
    So if you have huge amount of cash you walk in builder office tell him you are buying with cash the builder is happy because when he sells at lower price he incurs loss and no one can question him because he is selling at circle rates, he keeps the difference in cash which is used later by him in getting work from babus done.
    Now the buyer pays less stamp duty same good amount and since he has paid part in cash or black money he will not have any issues in selling at the circle rates and keeping the profits in cash.
    Another aspect which is used to make black money white is buy at lower stamp duty sell later at higher all white deal shift money to infra bonds and bingo you have all white money after five years without paying a single penny in tax.

    There are many things which you need to learn about re transactions


    My friend very few will understand ur POV.. Unfortunately people ; for whom this reduction happened ; do not exist on IREF and there is no need for them to see IREF..

    Current rule is a perfect receipe for converting black to white money.. It will put more pressure on prices and it is a win win situation for builders
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  • I think we are talking about different scenarios here :


    1- A has bought an under construction property: Generally in these cases A will pay to builder what is the cost mentioned in agreement. At the time of registry he will pay prevailing stamp duty to government. I am not sure Builder gets any advantage in this.


    2- When A is buying a property (Pre launch / Ready to move in), he pays some amount in cash to builder : I think that has happened in past, when some builders in GGN did ask for Rs 500/- psf as Cash money outside BSP price. this is sheer black money. Buyer is shelling out money, builder is getting, but no tax paid.


    Lower stamp duty means lower white amount and hence less home loans to the buyers. It can be a disastrous if the prices do not fall accordingly other wise the mismatch between book value and the actual value could be huge.


    My 2 cents.
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  • Hehehe. Such an interesting reading of some posts.
    The whole world can see couple of guys making highly provocative statements on NPR, and some investors trying to protect their investments, and going defensive. This makes the aggressors go even more aggressive and make some more fun on investors. And then, the investors still giving more excuses, as if they need to explain to them.
    I am loving this game.
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  • Originally Posted by Sgoel1234
    I think we are talking about different scenarios here :


    1- A has bought an under construction property: Generally in these cases A will pay to builder what is the cost mentioned in agreement. At the time of registry he will pay prevailing stamp duty to government. I am not sure Builder gets any advantage in this.


    2- When A is buying a property (Pre launch / Ready to move in), he pays some amount in cash to builder : I think that has happened in past, when some builders in GGN did ask for Rs 500/- psf as Cash money outside BSP price. this is sheer black money. Buyer is shelling out money, builder is getting, but no tax paid.


    Lower stamp duty means lower white amount and hence less home loans to the buyers. It can be a disastrous if the prices do not fall accordingly other wise the mismatch between book value and the actual value could be huge.


    My 2 cents.


    Yes sir, Scenario 2 mentioned by you has happened but not on an active basis. I have received emails in past from builders/brokers in prelaunch where they have rather offered discount in sale price instead of demanding any sum in cash. But yes, in commercial launches, it has happened that a few emails demanded cash part out of total sale price , but not in residential ones.
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  • Originally Posted by ruch2000
    Hehehe. Such an interesting reading of some posts.
    The whole world can see couple of guys making highly provocative statements on NPR, and some investors trying to protect their investments, and going defensive. This makes the aggressors go even more aggressive and make some more fun on investors. And then, the investors still giving more excuses, as if they need to explain to them.
    I am loving this game.


    Whether pro or anti NPR, as long as debate is meaningful and on facts, everyone is welcome.
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