Sector 72 Property

The Noida Authority would on December 13 launch the online bidding process for the sale of its 442 residential plots located across sectors 12, 31,33, 39, 47, 48, 49,51, 52, 55, 70, 72, 93B, 99, 100, 105 and 122. In a nine-day bidding process that would continue till December 21, each plot would be sold separately. A total of 505 people have applied for these plots since November 13 when the authority launched the scheme.

Soon, people working in Noida Sector 62 won’t have to rely on auto-rickshaws and hired cabs for commuting as the Delhi Metro’s Blue Line extension from Noida City Centre to Noida Sector 62 and Electronic City will get operational by January next year. At present, only Delhi Transport Corporation-run buses and private autos are available for public transit in the area. The same is true of several areas of Ghaziabad that lie close to Sector 62.

With demonetisation, the real estate sector witnessed a disruption of sorts especially because real estate sector happens to be one of the most sentiment-driven business too. Given that the sector's contribution towards the GDP is considerable, the industry couldn't afford the uncertainty for long. Within the industry, stakeholders will agree that 2017 did see a consolidation within the industry with multiple developers combining forces to sustain through RERA implementation.

According to a report published by the Department of Real Estate Studies & Research, Dubai Land Department (DLD), with an investment of over Rs 16,800 crore, Indians have emerged as the largest foreign investors in the city’s real estate sector in the first nine months of 2018. The prime factors attracting Indian buyers to the Dubai real estate sector include active promotion by Dubai-based developers, technological access for buyers through online portals, ease of property registration, assured capital gains, high rental yields, tax-free returns and affordability.

After the Punjab and Haryana High Court (HC) said encroachments from the government land be removed as early as possible, the municipal corporation is set to launch action against illegal constructions in Chandigarh, Panchkula and Mohali. For a planned intervention, the civic body is planning to visit each household to survey the situation and file a report on the action taken, as mandated by the HC. The first report in the matter is expected to be presented by December 20.