Results 1 to 7 of 7

Thread: Real Estate Crash in New Delhi!

  1. #1
    buyer-in-delhi
    Guest

    Default Real Estate Crash in New Delhi!

    finally it's happening.....!!!! wow, love it.....

    Realty player Business Parks and Town Planners (BPTP) has applied for the surrender of a 95-acre commercial plot at Sector 94, Noida, that it had bought for Rs 5,006 crore, as it was unable to complete the payment. It was the biggest land deal the country ever witnessed.

    In a statement, BPTP Director Sudhanshu Tripathi said, “BPTP has made an application to the New Okhla Industrial Development Authority (Noida) for surrender of (the) plot and are awaiting the authority’s decision.”

    The company said it made the application after the UP government, in its new policy, gave developers options to get their payment plan rescheduled and seek benefits of moratorium.

    The policy had also allowed developers to surrender the plot after paying a penalty of 10 per cent of the amount that it had deposited to the authority. The company will, however, not get the balance amount and instead will be offered land after paying the penalty. The government has given time till June to developers to submit their proposal to surrender their land.

    In 2008, BPTP had baggeed the 95-acre plot beating rivals, including DLF, Omaxe and Ansal Properties, surprising industry observers.

    A BPTP spokesperson said the company has already paid about Rs 1,300 crore (it had bid for the land at the rate of over Rs 1.30 lakh per sq m) and has applied for retaining about 25 per cent of the land that it has paid for. However, it is not known at what per sq metre rate the government will provide the land.

    The company had to pay the total amount through six monthly instalments over eight years and had sought an extension for its second instalment that was due in September 2008.

    According to a source in the Noida Authority, some more developers may follow BPTP as the market value of the land bought in the last two-three years has come down drastically. Sale and purchase of land and buildings have almost come to a standstill in Noida as well as Greater Noida.

    People are waiting for the prices to fall further before they make a move.

    source: Business Standard

  2. #2
    New Member shadow0000's Avatar
    Join Date
    Feb 2009
    Location
    los angeles
    Posts
    1

    Default

    Really well that is good for the others that who want to try to buy something like that....

  3. #3

    Default

    Unlike other assets, real estate asset is not difficult to sell.That is really good.


  4. #4
    New Member auberonavril's Avatar
    Join Date
    Dec 2010
    Location
    auberonavril
    Posts
    4

    Default

    The real estate market in New Delhi led to the correction, and Mumbai fell in the next step. Both have recovered after the introduction of recovery plans and actions for the restructuring of debt. During the immediate resuscitation of a large amount of capital sitting on the fence as an option.

  5. #5
    New Member daviemax's Avatar
    Join Date
    Jan 2011
    Location
    daviemax
    Posts
    6

    Default

    The kind of volumes we have seen in the first half of 2010 was substantially reduced, but market liquidity did not fall, and has no appetite for investment. In fact, the same enthusiasm he had been employed in the central part of Mumbai, spread to other parts of the city.

  6. #6
    New Member macroger's Avatar
    Join Date
    Feb 2011
    Location
    macroger
    Posts
    5

    Default

    These all fact the same things which you can share over here is really very great it is one of the market liquidity these all things are great.

  7. #7
    New Member marshnandrew's Avatar
    Join Date
    Mar 2011
    Location
    marshnandrew
    Posts
    5

    Default

    You have given a very good and a nice information about real estate crash. The information which you have given for it is beneficial for me also for others who wants to know this. I liked and very much impressed by this.

Similar Threads

  1. real estate in Delhi
    By pramod in forum Real Estate in Major Cities
    Replies: 27
    Last Post: 27-07-12, 12:26 AM
  2. Indian real estate market will crash
    By techie in forum Real Estate Discussions
    Replies: 12
    Last Post: 12-06-12, 02:05 AM
  3. Become a Real Estate Agent
    By BeanMars in forum Real Estate Discussions
    Replies: 28
    Last Post: 03-03-12, 08:51 PM
  4. Looking to know more about real estate investing.
    By Sanchez in forum Real Estate Discussions
    Replies: 24
    Last Post: 26-10-10, 04:11 PM

Share this page with your friends

Share this page with your friends

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •