Plot rates sees 30-40% rise in Gurugram & Independent Builder Floors rates in Gurugram are bound to rise in coming days.

There was a steep fall in rates of Delhi after demonetization and subsequently, Gurugram also bore the brunt of this demonetization. Besides this shortage of parking space, increasing traffic in lanes of Delhi roads has caused ripples in plot rates in neighbouring Gurugram.

Post demonetization, in the last 10-12 months there has been and a steep rise in property rates and following the trend Gurugram has also seen an unprecedented rise in the plot rates. As of today this hike is limited to the plot rates and hasn't affected the floor and apartment rates as yet. There have been 25% to 40% rise in plot rates all over Gurugram.

This rise in the price of the Plot has been mainly attributed to the approval of 4^th Floor and increase in FAR to 198%, therefore those persons who were in the business of constructing floors in Delhi found Gurugram attractive. You will see the spike in the construction activities throughout Gurugram.

It can be easily seen that least developed Sector-57 of Gurugram has seen rampant constructions and plot rates have increased from Rs 50,000/- to 95,000/- per sq yards in last 6-7 months.

Now the moot question is that what happened to the rates of Independent Builder Floors in Gurugram have they remained stable or increased?

During the last 2 years, the rates of the plot haven't increased in the magnitude of the plot rates, rather they have been on the same slab for the last 2 years. The main reason which can be attributed to this that builders who purchased a plot at cheaper rates are still earning the same or more, as compared to the one who has started building floor after buying the plot at increased rates. More or less the current inventory is being sold at the same rate as it was 2 years back (marginal increase can be seen at some places).

What will happen the rates of Independent Builder Floors in coming days?

It is the simple age-old concept of demand and supply which will ascertain the rates of plots, once the inventory of those builders who procured their plot prior to this hike is sold, the builders who are indulging into constructions of new Independent Builder Floors will be selling their inventory at the prices proportionate to the plot prices.

Comparative Study of the Plot rates and Independent Builder Floors during last year.

Location	Plot Size (sq yards)	Rate of Plot		BHK	Rate of Floor
		1 yr back	Today		1 yr back	Today
DLF Phase 1	270	1.35L	1.50L	3 BHK	2.10Cr	2.25Cr
DLF Phase 2	215	1.35L	1.65L	3 BHK	1.60Cr	1.90Cr
DLF Phase 3	215	1.25L	1.50L	3 BHK	1.40Cr	1.70Cr
Sushant Lok-1	215	1.10L	1.30L	3 BHK	1.10Cr	1.40Cr
South City-1	240	1L	1.20L	3 BHk	1.30Cr	1.55Cr
South City-1	340	90k	1.15L	3+1BHK	1.80Cr	2.30Cr
Sector -45	204	85K	1.10L	3 BHK	95L	1.15Cr
Sector-46	204	95K	1.25L	3 BHK	1.Cr	1.10Cr
Sector -47	204	85K	1.10L	3 BHK	95L	1.10 Cr
Sector -57	204	75K	1.05L	3 BHK	80L	95L
Vipil World	360	65K	90K	3+1BHK	1.60Cr	1.70Cr
Uppal Southend	311	85K	1L	3 BHK	1.30Cr	1.60Cr
South City-2	240	85K	1L	3 BHK	1.15Cr	1.35Cr
Malibu Towne	240	1L	1.40L	3 BHK	1.45Cr	1.65Cr
Sector -57	263	70K	93K	3 BHK	1 Cr	1.10Cr

Buy it now, else you will miss the bus….

High price and subsequent high maintenance cost in private builder's apartments and builder floor is attracting the home searchers towards as Independent Builder Floors of HSVP's Sectors and Private Colonies. It highly recommended that those who are in dual mind whether to wait for a falling price or buy at current price should buy decently constructed Independent Builder Floors anywhere in Gurugram. Local administration is giving a push to basic infrastructure of Gurugram and buyers are advised to get into this rush bus else they will miss the bus.

Disclaimer: The opinion of the author is based on personal learnings. Please re-confirm rates before buying or selling properties.

The Author of this article Pramod Singh is into real estate business since last decade. He can be reached at +91-7000042762or +91-9899790003 for consultations and assistance. Kindly write your query in comments.

Residents of Sector-52, Gurugram seeks equality as HUDA recalculates Enhancement in some Sectors of Haryana

Haryana Shehri Vikas Pradhikaran (HSVP) which is reeling under the severe cash crunch, levied Enhancement Cost onto the Plots of various HUDA Sectors of Haryana. This time there was proper outcry amongst  the residents almost Haryana. Amid protest, dharnas and agitations, on 5^th May 2018 Chief Minister Sh Manohar Lal who also happens to be the Chairman of announced an One-time Settlement Scheme wherein a straight 40% rebate was offered onto the Enhancement amount and it's interest. This scheme was effective from 15^th May 2018 and remained in force till 16^th July 2018.

Not all residents and owners of these HUDA/HSVP Sectors of Haryana were happy with the scheme as they had apprehensions that whatever Enhancement HSVP is claiming is hypothetically escalated and if calculated correctly will be enormously reduced. On their claims Chief Minister Haryana assured that HSVP will re-calculate the enhancement  for those who don't intend to avail the benefit of the scheme. It was also assured that few points of contention as under will be considered while re assessing the Enhancement Cost:

• Interest of period of delay in Conveying of Enhancement by HSVP will be looked into.
• Land pockets which were released after the Sectors were floated should be reduced from Sector.
• Land which is still under litigation u/s 24(2) of New Land Acquisition Act of 2013 be reduced from the chargeable areas.
• Unused HUDA Land in the Sectors be reduced from the chargeable area.
• Sector Roads has to shared with adjoining Sectors

Now, the Sector-52, Gurugram residents and plot owners are feeling cheated as they along with similarly placed Sector like Sector-51, Sector-27, 28, 42, 43 of Gurugram and various other Sectors have paid complete Enhancements without any rebate.

Residents Welfare Association of Sector-52, Gurugram have decided to take up this matter with authorities as they have failed to avail OTSS Scheme and the largesse of HSVP.

RWA of Sector-52, Gurugram is therefore seeking the equal treatment which HSVP is intending to extend to the Sectors which are currently facing the wrath of enhancement. Since HSVP is re calculating considering the technical points hence the RWA of Sector-52 seeks similar grounds of proposed relief be extended to them as they have paid their all of the 3 Enhancements as per schedule decided by the HUDA (now HSVP)

Author of this blog Pankaj Yadav is a practicing advocate at High Court of Punjab and Haryana, Chandigarh and is taking up the matter pertaining to HUDA and was instrumental in the reduction of Enhancements in Sector-52 and Sector-51, Gurugram. The author can be reached at pankajyadav.legal@gmail.com or +91-9711791179

Enhancement shocker for the residents and plot owners of Sector-51, Gurgaon

Haryana Urban Development Authority (HUDA) lived upto its reputation and has passed an illogical order of stopping the refund of excess enhancement of Sector-51, Gurgaon. Earlier Chief Administrator HUDA passed a speaking order wherein the enhancement cost was reduced by Rs 4405/- per sq yards. Many residents have already claimed their refunds.

Sizable number of plot owners and flat owners of group housing societies were still waiting for the refund and they were shocked to know that their refund has been stopped by orders of superiors i.e CCF (Chief Controller of Finance), HUDA.

It is difficult to understand that how come CCF have realized now that refund was inappropriate, whereas the Chief Administrator filed Speaking Orders in Hon'ble High Court of Punjab & Haryana wherein the enhancement was reduced by Rs 4405/-. All this smells a rot as it is well known that HUDA is out of money and they are trying to delay the process of refund on trivial and non maintainable grounds. 

HUDA is not aware that these orders to stop refund will imply that Chief Administrator  HUDA filed a false report before Hon'ble High Court of Punjab & Haryana thus is bound to face the ire of the court.

It is also pertinent to note that the reduction of enhancement by Rs 4405/- per sq yards was made possible because case of Artemis Hospital v/s HUDA in which a committee was constituted comprising of HUDA officials, representative of Artemis and RWA Sector-51, Gurgaon. While the said committee was hopeful to get further relief  from Rs 4405/- this act of stopping the refund speaks lot about arrogant manner in which HUDA operates.

HUDA forgets that it charges service tax and is bound to provide services. It is no different from private developers, it's every act challengeable and accountable. HUDA Officials must not forget that we general public and have paid for everything we have. 

Author is one of the representative of the Committee working to analyse the Enhancement of Sector-51. To understand more,  for consultations please feel free to contact author of this blog at 9899790003 or write at pankaj@easyghar.com.

Threat of Resumption and Forfeiture of HUDA Plots in Gurgaon looms over the plot owners who have outstanding dues, payable to HUDA.

It is no secret that Haryana Urban Development Authority (HUDA) is under severe cash crunch and that is why HUDA is exploring all options to extract it outstanding dues from the allottees.

In first move HUDA issued letter to the Plot Allottees to get the pending Conveyance deed executed so that allottees by doing so will clear their dues. This efforts did not reap good returns.

Now, HUDA has decided to go all out in its look out for money. This time it has started issuing notices to HUDA Plot owners who have outstanding amount due onto them towards HUDA. The said notices are for Resumption and Forfeiture of HUDA Plots u/s 17 (1) of HUDA Act which says "Where any transferee makes default in the payment of any consideration money, or any installment, on account of the sale of any land or building or both u/s 15, the Estate Officer by Notice in writing call upon the transferee to show cause within a period of thirty days, why a penalty, which shall not exceed Ten per cent of the amount due from the transferee , be not imposed  upon him."

This notice is major cause of concerns for those living in or having plots in Sector-27, Sector-28, Sector-42, Sector-43, Sector-51, Sector-52 & Sector-57 as these sector HUDA has imposed hefty Enhancement Cost after allotment on the pretext of payment to farmers. Huge number of owners living in these sectors are failing to pay the atrocious enhancement cost.

It is a definitely a cause of worry as Notice u/s 17(1) of HUDA Act is just initiation of process for Resumption and Forfeiture of plots.

To understand more,  for consultations please feel free to contact author of this blog at 9899790003 or write at pankaj@easyghar.com.