3C Company & Orris launch housing project
Realty firms The 3C Company and Orris Infrastructure have announced the joint development of a residential project in Sector 89, Gurgaon. The 47-acre green project ‘Greenopolis’ would comprise 2,317 units. Orris Infrastructure, which has 700 acres of land bank in new Gurgaon, would provide land, while development would be done by The 3C Company. The project would be completed in two phases, with the first phase comprising 1,700 units. The project would feature two-, three- and four-bedroom apartments ranging from 1,200 sq ft to 2,500 sq ft. The launch price is Rs 5,250 per sq ft and possession would be handed in two years.
Noida residential land rates rise by 10.41%
The Noida, Greater Noida and Yamuna Expressway authorities have hiked rates of residential land by 10.41 per cent, industrial plots by 7.5 per cent and reserve price for commercial plots by 15 per cent. After the hike, the per square metre rates for Noida sector-categories are: Rs 54,105 for category A, Rs 37,710 for category B, Rs 27,465 for category C, Rs 22,955 for category D and Rs 19,675 for category E. The residential land rates at Greater Noida are Rs 18,660 per square metre and for the Yamuna Expressway it is Rs 8,900 per square metre. The the land compensation due to farmers has been hiked by 10.41 per cent.
NCR sells twice number of homes as Mumbai
The National Capital Region (NCR) sold more than twice the number of homes compared with Mumbai in the first quarter ended June, mainly driven by affordable prices, said real estate rating and research firm Liases Foras. Availability of apartments below Rs 1 crore has led the northern region to sell 21.33 million square feet of residential area during April-June period, while Mumbai sold 9.79 million square feet. The weighted average cost of an apartment in NCR is Rs 59 lakh while in Mumbai, it stands at R1 crore. Weighted average cost is the price of the total supply in the market. The sales in Mumbai have been sluggish for over a year due to high property prices coupled with delays in approvals due to regulatory changes. The NCR market, on the other hand, is largely an investor driven market where properties are bought mostly to park capital, the report said. Source>>>