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The Reserve Bank of India on Tuesday raised the limit of bank loans to individuals for housing (with a lower risk weight of 50 per cent) to Rs. 30 lakh from Rs. 20 lakh. This move is expected to reduce the cost funds of housing loans up to Rs. 30 lakh. Presenting the Annual Policy Statement for 2008-09, RBI Governor Y. V. Reddy said banks were asked to pass on this benefit to applicants for home loans. The RBI also relaxed asset classification norms for credit to infrastructure projects. Standing committee The RBI stated that it will introduce currency futures in eligible exchanges in consultation with the Securities and Exchange Board of India (SEBI). The broad framework is expected to be finalised by the end of May. An RBI-SEBI standing technical committee has been set up to advice on the operational aspects with regard to the trading of currency futures on the exchanges. In order to promote an incentive system for greater flow and efficient allocation of credit, an internal working

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Housing loan growth rate drops by more than half RBI report High interests & property prices subdue economic activity; personal loan rise dips from 31% to 13%; non-food credit expansion down from 29% to 22% APRIL 29: With interest rates remaining high and real estate prices yet to show any decline, the growth in demand for housing loans is on the decline. The growth in housing loans, which was 25.8 per cent (Rs 46,019 crore) during the period ended February 16, 2007, has declined to 12 per cent (Rs 26,930 crore) during the period ended February 15, 2008, the Reserve Bank of India (RBI) has said. The outstanding housing loans as on February 15, 2008, is Rs 251,688 crore. According to the RBI report on Monetary and Macroeconomic Developments, credit growth is slackening. The expansion in bank credit to the commercial sector moderated during fiscal 2007-08 and remained within the Reserve Bank’s policy projection in April 2007, after a strong pace of credit expansion for three consec

Uppal to invest Rs 8,000 cr in SEZs, hotels Real estate firm Uppal Group is planning to invest over Rs 8,000 crore in the next five years to develop four special economic zones (SEZ) and two hotels in the north India. The Delhi-based company has already received the notification for two SEZs in Gurgaon, while it has got the formal approval for two SEZs planned in Uttar Pradesh. "Infrastructure work has already started on the 263 acre multi-service SEZ in Gurgaon where we will develop 22 million sq ft in different phases," Uppal CEO (SEZs and Hotels) Gian Bansal told PTI. The project cost of the SEZ, including land, is Rs 5,000 crore, he said, adding that the project would be completed by 2013. The construction work on another SEZ in Gurgaon is expected to start in the next three months. "We are developing an IT/ITeS SEZ in Gurgaon spread over 87 acre of land with built up area of nine million sq ft. The project cost is about Rs 1,500 crore," Bansal said, adding that

Work on Shree Energy Developers' group housing project, Classic Residency, at Noornagar in Ghaziabad district of Uttar Pradesh is likely to commence in June. The project, spread over 4 acres, will have 240 units and amenities like gymnasium, parks and club house. Anuj Agarwal of Ghaziabad is the architect. Land for the project has been acquired and the company is awaiting necessary clearances from the state government. The project is scheduled for completion by April 2010. The company is also setting up a group housing project along NH-58 in Ghaziabad district. Ghaziabad is within NCR and strategically located on NCR and NH-24.Ghaziabad is house for many Industrial units. Ghaziabad is having 2nd largest number of steel units in North India .It is a educational hub particularly Engineering & Management colleges. It is also having a Medical College . So there is upsurge demand in housing Sector, it is very Well Connected to Noida, Meerut, Hapur and Delhi . Ghaziabad is the 4th fa

Lemon Tree to set 18 hotels; will invest Rs 2,150 cr by 2011 In tune with its plan to become India's second largest hotel-chain, Delhi-based 'Lemon Tree' has earmarked a budget of Rs 2,150 crore for setting up 18 hotels in the country by 2011. The company has already invested around Rs 1,050 crore for setting up five hotels and invest another 1,100 crore in setting up hotels and shopping malls in next three years. "By 2011, we will be the second largest hotel chain in the country with a capacity of over 2500 rooms having presence in 18 cities across India," Lemon Tree Chairman and Managing Director Patu Keswani told reporters here at the inauguration of its fifth hotel in Kausambi in Ghaziabad. With the inauguration of its hotel in Ghaziabad, the company has now five operating hotels, including two in Gurgaon, a beach resort in Pune. "We already had invested Rs 1,050 crore in buying properties and in setting up malls and hotels, and now, we have finalised pla

The NCR Commute Conundrum - Its One Big Mess Beyond The Yamuna No Transport Network In Ghaziabad, Noida Poor connectivity with Delhi In Noida, No Autos Or Taxis As living space shrinks in Delhi, hundreds and thousands of people with offices in India's capital or neighbour Noida in recent years have settled in Ghaziabad, a booming middle-class township on the outskirts of Delhi. As new settlers pour into Ghaziabad in Uttar Pradesh and builders compete with one another to shelter them in shiny towers giving the place a Dubai-like skyline, new townships have exploded: Kaushambi, Indirapuram, Vaishali and Vasundhara, to name just a few. To our point, though: no transport network connects these colonies with Ghaziabad city. The city of over 16-lakh people does not have a local bus service and, in its absence, residents mainly rely on a fleet of 8,000 three-wheel autorickshaws, 60 per cent of which have no licence to run. Local authorities have been talking about an "integrated tran

208 Illegal Colonies To Be Regularised In Ghaziabad The state government has decided to regularise illegal colonies in Ghaziabad on the pattern of Jaipur Development Authority in Rajasthan. The policy would benefit 208 illegal colonies. The UP administration has invited suggestions on the policy from development authorities across the state through a letter. A copy of Jaipur Development Authority's policy is also attached. The development authorities have to post their suggestions within 15 days. The state administration would regularise illegal colonies on priority basis. Under the new policy, development authorities have been given more power so that regularisation work could proceed speedily, said Ghaziabad Development Authority secretary Raj Kumar Sachan. The state's approval has to be sought in trivial matters too. However, it is not amndatory in the Jaipur authority policy. The regularisation tax is also comparatively less. Development works can be completed after regular

Documentation is an essential and complicated part of a property acquisition process. Different states have different requirements. There are many laws that govern the process. However, you should have a checklist of documents to be verified before deciding on purchasing a house. These documents should be scrutinised before giving any advance to the seller. It is always advisable to have these documents vouched by a legal expert. Here are some documents you need to have checked: Purchase of freehold residential plot or house The main documents to be verified in such a case are: Copy of the sale deed through which the seller got his title to the property Copies of all earlier sale deeds - to verify the chain of past owners of the property Registration details of the sale deed Agreement to sell the property Receipts of payments made by the purchaser to the seller Copy of the sale deed for registration purposes Purchase of property from original allottee of a government development aut

Residents sulk as Metro skips Sec 62, It is not connected through public transport to Delhi or Noida It is not connected through public transport to Delhi or the rest of Noida The two boards, Noida Authority Board (NAB) and Ghaziabad Development Authority Board (GDAB), have now given a green signal to taking the Metro line to Greater Noida on one side and Ghaziabad on the other, leaving the residents of Sector 62 high and dry . The residents were pinning their hopes on the recently-held board meetings, expecting that some decision would be taken to extend the Metro line to their area but all their hopes have dashed. There was no mention of Sector 62 in the meetings. FACT FILE The DTC bus service is infrequent and there are no autos There are many cooperative group housing societies here and many students come here to attend college and other institutes The sector is home to 45 cooperative group housing societies. There are several schools, colleges and offices too. But the area is not

Aerial View: Ansal Housing’s project at NH 24 Ansal Housing & Construction has launched its group housing project, Ansals Tanushree. The project is on the NH 24, Ghaziabad. The project offers 2- and 3-BHK apartments with a built-up area ranging from 1,238-1,700 sq ft. These apartments will be housed in three towers. The apartments range between Rs 29 lakh and Rs 40 lakh. Some of Ansal Housing’s earlier projects in Ghaziabad are: Neelpadm Kunj, Garden Enclave, Aavantika, and Chiranjiv Vihar. It has also developed Fortune Arcade in Noida, Golf Links I & II in Greater Noida, and Aashiana in Lucknow. Naredco for cheap housing National Real Estate Development Council (Naredco) is organising a National Conference on ‘Affordable Housing for All’. It will be held in New Delhi on 21 and 22 April 2008. The conference will be supported by Ministry of Housing and Urban Poverty Alleviation, Government of India and UN Habitat. Some of the other issues that will be discussed at the conferenc

Power Tariff Eight Per Cent Hike In Noida, Ghaziabad Residents of Noida and Ghaziabad should prepare themselves for steep power bills as the Uttar Pradesh Electricity Regulatory Commission (UPERC) announced an eight per cent hike in the domestic power tariff eight per cent hike on Tuesday. This means that domestic consumers with electricity consumption above 200 units per month, who were paying a flat rate of Rs 3 per unit, will now have to cough up Rs 3.30 per unit. But the hike has spared rural consumers. THE JUMP Consumers with electricity consumption above 200 units per month, who were paying a flat rate of Rs 3 per unit, would now have to cough up Rs 3.30 per unit. In addition to this, domestic consumers (consuming above 200 units per month) will also have to pay Rs 10 per kilowatt extra as fixed charge, which has been raised from Rs 50 to Rs 60 per kilowatt. Besides, to discourage unbridled use of air conditioners, an additional flat rate of Rs 150 per tonne of actual AC load has

Way paved for Gzb expressway Ghaziabad/Greater Noida: The Ghaziabad Development Authority (GDA) has finally decided to complete work on a number of roads, including the 12-kilometre expressway linking Greater Noida to NH-24in Ghaziabad. While 10.5 kilometres of the 12-kilometre expressway having been completed five years ago, a 1.5-kilometre stretch on NH-24 had been encroached upon. Now, GDA vice-chairman SK Dwivedi said compensation and alternative plots of land will provided to residents along the route to clear the area in order to complete the expressway. Meanwhile, the GDA has decided to go ahead with plans to build a six-lane expressway linking the Hindon bridge at Meerut Road and the Greater Noida-Ghaziabad expressway. The GDA and NHAI have already decided to widen NH 24 from UP Gate to Lal Kuan.

Authorities Mull New Link Between Noida and Saharanpur, To Ease Connectivity,Develop In W. UP In Their bid to ease connectivity and develop areas in western Uttar Pradesh, ..... authorities are mulling yet another expressway to connect Noida to Saharanpur along the left bank of the Hindon river. The 271 kilometre long eight laned expressway, which will connect the Noida to Ballia Ganga Expressway to the Dehradun Road near Kalasia in Saharanpur, is expected to cost the state exchequer nearly Rs7,000crore. Details of the project were discussed at a meeting of....officials in Meerut earlier this month. District Magistrate Kamini Ratan Chauhan had assured those opposing the move of a relook in to the plans,sources told Newsline. The Expressway,which is expected to connect some areas in Uttaranchal too, would be built on build-operate-transfer. Officials say construction expenses of the road could exceed estimates because of the unfavourable terrain-when compared to the Noida Greater Noida

A number of housing projects are coming up in Raj Nagar Extension in Ghaziabad which, with a price tag at sub-Rs 20 lakh, will be an attractive proposition to middle class clientele. ET Realty reports This could be good news for middle class home buyers. Close to East Delhi, just across river Hindon on National Highway-58 , which goes to Haridwar, a number of housing projects are coming up opposite Raj Nagar in Ghaziabad district. The new area, Raj Nagar Extension, is around 8 km from Indirapuram and 15 km from Delhi border. Apartments are being sold at the rate of Rs 1,850 per sq ft to Rs 2,100 per sq ft. According to one estimate, over 10,000 apartments are likely to be built in the next three years. At present, 15 builders are active and have already acquired land. These include some well-known builders like KDP Infrastructure, SVP, Land Craft, Shreya Developer, MCC Builders, Shree Energy, Ashiana Homes and Aura Builders. Many of the builders have acquired land from farmers and rece

Indus to buy Rs 206-cr equity in Uppal SEZs FUND TO TAKE 25% & 50% IN NOIDA, G. NOIDA PARKS US-BASED hedge fund Indus Capital Partners is investing Rs 206 crore for equity stake in the two special economic Zones (SEZs) of Delhi-based real estate developer Uppal Group. “Indus Capital is buying a 25% stake in our Noida SEZ for Rs 100 crore and 50% in Greater Noida SEZ for Rs 106 crore,” Uppal Group director (finance) Ajay Mangal told ET. Uppal group, which is developing four SEZs in the national capital region (NCR), had earlier received an investment of Rs 300 crore each from realty trust Vornado and investment firm Trinity Capital for its two other SEZ projects. The group would require a total investment of around Rs 8,000 crore for its four SEZ projects over the next five to seven years. Both 25-acre Noida and 26-acre Greater Noida projects are IT/ITeS SEZs and have also received the government approval. “The master plan for both Noida and Greater Noida SEZs will be ready

Realty majors adopting new technologies to cut costs ALTERNATIVE CONSTRUCTION MATERIALS GAINING CURRENCY MOVING one step closer to affordability, real estate developers are realising the importance of innovative construction technologies to reduce costs and monitor effective quality controls. Though awareness on the subject is still at a nascent stage, the use of alternative technologies such as tunnel form technology, table forms and flyash is increasingly gaining acceptance by realty firms as an ideal way to economise costs. For instance, Red Fort Capital, a leading international private equity real estate firm, for instance has developed ‘Fly ash based Cellular Lightweight Concrete,’ a technology that can help to save up to 10% in the construction cost for high rise structures while using eco-friendly materials. It also boasts of faster constructions, promoting sustainability and a healthy environment for the occupants. Says G B Singh, director and founding partner, Red Fort Capi

Apartment capital values in Ghaziabad's Indirapuram in May averaged at Rs 3,000/sq ft and three months later it dipped to Rs 2,600 and then started looking up around December 2007 to Rs 3,000-3,500. In February the values have again started decreasing to Rs 2,500-3,000. However, the rental market has been active and rentals continue to show upward trend across different categories. Majority of the apartments at Indirapuram are 2BHK and 3BHK. According to Surendra Shah, a Ghaziabad property broker, "The dip in prices in Indirapuram was primarily because of the rise in rate of interest." Adds Ajay Bansal, another property broker from Ghaziabad- "Indirapuram is one of the most favoured places in Ghaziabad but due to the increase in rate of interest, the potential buyers are unable to buy a flat currently. The supply side has been vigorous but the demand has gone down because of the increase in rate of interest as it has affected the purchasing capacity of people."

The NCR (National Capital Region) town of Ghaziabad is undergoing the preliminary phase of rapid economic growth and real estate development. A number of companies in manufacturing and services sector are making huge investments in the city, thereby making it the hotbed for growth and development. According to real estate consultants, Ghaziabad has a sea of opportunities in store, both from the demand and supply sides. The city enjoys a good connectivity advantage to Delhi. Industry experts believe that, in the next five years the city will have the best infrastructure in the NCR. Ghaziabad is now seen as a place to Delhi what Navi Mumbai has now become for Mumbai. Today, the city has become an educational hub. It is expected to create a big pool of talent. Hence in the coming years, many companies would break through into Ghaziabad generating huge employment opportunities thus increasing demand for affordable accommodation. Considering that in Master Plan 2021, Ghaziabad Development A

The company will begin with Piped Natural Gas and Compressed Natural Gas NEW DELHI: The State-owned Indraprastha Gas Limited (IGL) is all set to extend its operations beyond Delhi. To begin with, it will launch supplies of the eco-friendly Piped Natural Gas (PNG) and Compressed Natural Gas (CNG) for the residents of Ghaziabad in the next financial year. Reliable sources revealed that IGL, which has the licence to develop gas distribution in Ghaziabad, bordering Delhi, is expected to start operations from the first week of April. Sources said IGL Managing Director Om Narayan had written to the Union Petroleum and Natural Gas Ministry seeking allocation of 0.2 million metric standard cubic metres per day (MMSCMD) of natural gas for meeting the PNG and CNG needs of Ghaziabad. A joint venture of the Gas Authority of Indian Limited and the Delhi Government, IGL owns a city-wide gas pipeline network of 1,250 km in the Capital. It has 145 CNG stations. The No Objection Certificate (NOC) from

Delhi Metro to connect Ghaziabad by September 2010 DMRC and GDA sign agreement for extension of Metro to Vaishali NEW DELHI: For thousands of people who commute between Delhi and Ghaziabad daily, the wait for an efficient and comfortable mode of transport will be over by September 2010. The Delhi Metro Rail Corporation (DMRC) and the Ghaziabad Development Authority (GDA) signed an agreement on Monday for extension of the Delhi Metro to Vaishali in Ghaziabad. The memorandum of understanding was signed between DMRC Director (Projects) Vijay Anand and GDA Vice-Chairman S.K. Dwivedi. The DMRC will extend the existing Indraprastha–Yamuna Bank–Anand Vihar Inter-State Bus Terminal metro corridor to Ghaziabad for a length of about 2.57 km up to Vaishali. While the cost of the rolling stock will be borne by DMRC, the GDA will provide land for the project free of cost, said a DMRC official. Station facilities About 2.5 hectare of land for station and station facilities, including parking, will

Boomtown Express Chugs In, Noida, Greater Noida Get a Rs 10,000 Crore Ride Into The Future After the Taj Expressway and Taj City project, it is now the turn of Greater Noida phase-II to emerge as another world-class city, said officials after presenting the annual budget on Wednesday. The highest expenditure has been planned for land acquisition in the district to kickstart plans for the new city. Dadri tehsil of Gautam Budh Nagar and Sikanderabad and Sadar tehsils of Bulandshahr district will together form the Greater Noida phase-II. Together, they will push the city limits to the banks of the Ganga and the upcoming Ganga Expressway, officials said. Rs 2,400 crore has been earmarked for land acquisition to complete the process, sources said. In There Pipeline All cleraed A New city to come up as Greater Noida Phase-II Metro to reach Greater Noida Twenty-Seven Hotels Four Collegs Two Super-Specialty Hospitals Four Flyovers Fifteen Underpasses Satellite Surveillance for Greater Noida an

Story Behind The Boom Property Prices, But beware, fraudsters may cheat you out of your dream home The increase in such frauds is mind-bog- gling. People need to be careful while buying a house or investing in real estate. S.B.K. SINGH, Additional Commissioner of Police, Economic Offences Wing Yes, IT's your dream house. But make sure you are not shelling out those big bucks for any castle in the air. With rising property rates, lucrative offers and easy payment options, investment in real estate has never so alluring. At least, that is what banks and builders would make you believe. But police records have a different story to tell. If data available with them is to be believed, more and more real estate investors are struggling to cope with the downside of the property boom. Police said the number of people duped in fraudulent real estate deals in Delhi has almost tripled in the last two years. UNDER SCANNER 9 cases under investigation for pre-launch fraud 15 Cooperative Group Ho

Pre-Launches Often Take Investors For A Ride, every housing project being put forward for prelaunch If Insiders in the real estate business are to be believed, almost every housing project is being put forward for prelaunch in satellite towns. The upcoming hi-tech cities and townships on NH-24 and NH-58 in Ghaziabad, the housing projects along the Greater Noida Expressway and in Greater Noida and various projects coming up across the canal in Faridabad offer only some examples of `pre-launch'. "Since `pre-launch' is illegal, such deals are given a different name like advance registration. The builder promises a housing project on a particular piece of land and invites buyers for advance booking of plots and flats at a discounted price. The money funds the construction of the projects," said a senior official of a real estate company on con , dition of anonymity . RISKY AFFAIR Till the time the projects get requisite approvals and construction begins, the investors'

Money sanctioned for two major flyover projects One grade separator to be constructed at Ghazipur intersection of NH-24; other at NH-1 ‘Completion of the NH-1 project will provide much needed relief to inter-State commuters’ NEW DELHI: For lakhs of people living in East Delhi and adjoining Ghaziabad, travel to the rest of the Capital is all set to become faster and easier with the Delhi Government’s Expenditure Finance Committee approving a sum of Rs.249 crore on Monday for construction of a new grade separator at the Ghazipur intersection of National Highway-24. The Committee, chaired by Delhi Finance Minister A. K. Walia, also sanctioned Rs.138 crore for a grade separator at the National Highway-1 T-point in Sanjay Gandhi Transport Nagar. Both these projects would be commissioned before the Commonwealth Games in 2010. After the meeting, Dr. Walia announced that the two grade separators were being constructed to facilitate free flow of traffic and reduce congestion of heavy traffic. H

About Project : At Ashiana Le Residency, you�ll find everything you dreamt of and at a price you couldn�t have imagined. It comprises of 2 & 3 Luxury Bed Room Apartments alongwith a mini golf driving range, a large swimming pool, a modern gym, a billiards room and an upscale Club House with Jacuzzi. Ashiana Le Residency is located in Golf Links, NH-24, Ghaziabad, just 15 minutes of relax driving from Indirapuram and shall be a walk away from the proposed* Metro Station. About Developer : Ashiana has been in the housing development sector for the last two decades and has established it's reputation as a real estate developer that provides quality of construction, safety of investment and integrity of commitment. Ashiana Group commenced operations in 1979 , at Patna and since then has extended its activities to Jamshedpur, Bhiwadi, Ghaziabad, Indirapuram, Gurgaon, Greater Noida, Jaipur, Jodhpur and lucknow at present. With over 40 lacs sq.ft of construction, in both, the resident

Garg Group is into steel distribution, education, and development of infrastructure projects. The real estate arm of the group, Landcraft Developers, has come up with two residential projects at Ghaziabad. Director of Landcraft Developers, Manu Garg in an interview with Our correspondent informed that comparatively lower prices and connectivity dividend are the factors that make their projects more attractive destinations to invest in. Excerpts: What are your company’s current projects? We have two projects running at Ghaziabad—River Heights and Golf Links. In River Heights, there would be 1,000 apartments of which 450 will be built in the first phase. Spread on a 20-acre plot, it offers accommodation to the mid-segment buyers in the category of Rs 20-30 lakh. There aren’t many options available in this range, within a 5 km radius of a proposed Metro station. The second project is Golf Links, a golf-centric integrated township spread over 120 acres. Out of this we have a license over

Aditya World City Brings Modern state-of-the-art integrated township approved by the Ghaziabad Development Authority with world class infrastructure and quality living with Adequate water, power and security encompassing Health care, shopping, Entertainment and Educational facilities. Regal Heights a slice 185 Acres of lifestyle at Aditya World City, brings a new vista of living with full value for money, enjoying absoluete pease of mind in a safe and secured environs.Infrastructure within the township inclides Shopping Mall, gym, swimming pool, childern play area, school, club, multiplex, temple etc. Aditya World City enjoys excellent connectivity with Delhi. Besides connectivity, the pollution free and peaceful surrounding of Aditya World city is another attraction. One can swing its spirits on new high at Aditya World City. Breathe deep in the fresh air soaked in nectar around. Add more grace to your lifestyle in an environment free from pollution and noise. So Plan your life in the

Thr Royal Cliff The Royal Cliff is a premium residential project in the Crossings RepubliK. This project will have high rise aesthetically designed multi-storey buildings. 3 B/R option of 1655 sq. ft. area and 4 B/R option of 1940 sq. ft and 2 B/R option of 1250 sq. ft. with unmatched facilities make living enjoyable in The Royal Cliff. We are making Air-conditioned appartments with fully wooden work. Complete modular kitchen equiped with electric chimney, Hob & R.O. System. Designer Toilets, Master Toilets will have shower panel with glass enclosure with all branded fittings. Designer concept interior with combination of rich plastic paint & texture paint. It will have a facility of membership of a premium class club with swimming pool, fitness club, sauna bath, billiards room, card room etc. For details please go to the specifications. Soon N.H.-24 is going to be 6 lane expressway, bringing Delhi even more closer. Famous Fortis Hospitals & other Prestigious Schools &

Greater Noida will have an international airport and this has enhanced its real estate attractiveness The 23-km Express Highway between Noida and Greater Noida is the buzzword in the real estate industry today. The infrastructure project, which traverses across 40 sectors of Noida, has already started benefiting the properties spread over 321 hectares in Greater Noida. Major residential developments coming up Given the kind of positive picture being projected by real estate in Greater Noida, the countrys most prestigious names have launched huge residential projects in the city. Unitech has entered the market with two higher-end residential projects Unitech Grande and Unitech Cascades. Eldeco has also been developing a residential township spread over 18 acres, while Omaxe is also not lagging behind. The group is in fact targeting Non Resident Indians (NRIs) with its NRI City project, though their second project, Palm Greens, is also an upbeat one and comes under the luxury housing

Realtors from Delhi and NCR are looking forward to the Times Property Expo 2008 to be held at Dubai next week It is time to cross national boundaries and fly to foreign shores with the Times Property Expo 2008 to be held on April 11 and 12 at JW Marriott Hotel,Dubai.The expo will see major real estate developers from Delhi and NCR together with participants from across the country. The most comprehensive and diverse exhibition of Indian real estate to be organised in UAE, the expo will be a meeting point for real estate operators and buyers based at Dubai. Along with participants from across the country, major real estate developers from Delhi and NCR will participate in the expo. The event will showcase hi end premium residential properties,malls,IT parks,commercial properties, SEZ, plots and office complexes. List of participants include individual and corporate houses in Dubai interested in commercial properties in Delhi and around, people seeking lifestyle and décor concepts,agents

NRIs among 40 duped by Gurgaon builder Gurgaon: The economic slowdown in the West may have led many NRIs to consider coming home, but they run a serious risk of being duped by fake promoters. In a huge property fraud in Gurgaon, over 40 people, many of them unsuspecting NRIs, were duped to the tune of Rs 14.31 crore by one Ozo Media Estate Ltd. Though 18 FIRs have been lodged against the company and its promoters, Gurgaon police is yet to even question any of the accused on the plea that “it’s a lengthy and complicated case.” The promoters reportedly sold commercial office space between January-April 2006 on the 16th to 21st floor in a building to be constructed in Mumbai and collected Rs 14.31 crore. As the fraud came to light, FIRs were lodged against Ozo Media Estate Ltd, Champak Textile Pvt Ltd and 14 individuals. Though it took a directive from the Punjab and Haryana High Court for the police to launch investigations, the Gurgaon cops have since endorsed in a city court the charge

Ghaziabad realty lottery throws up fraud Ghaziabad: An internal inquiry has unearthed rigging in a draw of 200 square metre plots of the Ghaziabad Development Authority (GDA) held in February 17 last year. The authority has suspended its computer programmer, Atul Sharma. The UP government has ordered another inquiry by a high-powered committee to identify others involved in the fraud. It will also go into whether there could have been rigging in other past draws. Besides, it will decide how duped winners of the draw will be compensated. A GDA officer said: ‘‘The inquiry committee will comprise the GDA vice-chairman, the district magistrate and a special secretary to the UP government. The suspension of Atul Sharma has been ordered by the state government and an FIR is likely to be filed against him.’’ The rigging had been carried out in a draw for 59 plots located on Loni Road under the Indraprastha scheme. About 15,000 applications were received for the scheme. The GDA had not allowed

India's Realty Industry Scrapes Sky, Noida in many ways symbolises India's booming realty industry A decade ago, Noida was little more than a scrubland just outside India's national capital, New Delhi. Today, it is a booming township with unending concrete structures and is home to several multinationals. This metamorphosis of Noida in many ways symbolises India's booming realty industry, estimated at $15 billion, and growing at a whopping 35 percent annually. "The real estate scene in India has undergone a sea change in the past four years," said Venugopal N. Dhoot, president of the Associated Chambers of Commerce and Industry (Assocham), one of India's three leading industry lobbies. "Growing economy, greater integration with the global economy and increasing domestic and foreign investment are creating demand for residential, official and retail space to propelling the realty industry's growth," Dhoot told IANS. That is apparent from the n