SMART ADVANTAGE PAYMENT PLAN successfully launched at Ghaziabad

During this festive season, SARE Homes organized a real estate carnival for the people of Ghaziabad to come, enjoy and experience community living at its best- at SARE Crescent ParC Township, NH-24, Ghaziabad.

The real estate carnival was a huge success with a turnout of over 2000 visitors. Families enjoyed the fun activities and prospective home buyers had a first-hand experience. The highlight of the event was the introduction of the first-ever ‘Smart Advantage Payment Plan’ on 200 apartments, wherein the home buyer got a chance to avail his dream home by paying only 2% of the total cost as down payment, provided their loan has been approved by the bank and they have to pay the remaining 18 per cent in 9 instalments within two years of the allotment. This innovative plan further encouraged customers to purchase their dream homes without denting their pockets.

Speaking on the occasion, Vineet Relia, Managing Director of SARE Homes said, “SARE Homes is focussed on delivering world class homes at good value to the home buyers. Our GDA approved township is already in the advanced stage of construction and habitation; families are living happily in Phase1 and Phase 2. Construction is in full swing in Phase 3. The township has received phenomenal response and through this carnival, we want to give our prospective customers a real-life experience of being a part of this project. Also, we are introducing, for the first time ever in India, a Smart Advantage Payment Plan which will make purchasing homes a more convenient proposition. The apartments will be offered at cost of Rs 32 lakh and Rs 50 lakh approx. Top banks of the country like State Bank of India are the loan providers to offer this facility to home buyers. This is another step that SARE is taking to help the customers own their dream home.”

David Walker, Managing Director of SARE Homes said “Being located on the eastern periphery of Delhi, Ghaziabad is emerging at a strong pace as a residential nucleus for professionals working in Delhi and Noida. The real estate in Ghaziabad has become very noticeable with proper moves in all features of property growth. The home carnival will help in creating awareness among the people about the kind of peaceful and quality living townships being offered by SARE Homes –to suit all income levels.”

The Smart Advantage Payment plan was launched at Ghaziabad which garnered an encouraging response from the customers. We are now launching the same in other townships, starting with the Gurgaon Projects – Petioles and Green ParC II located at Sector 92. We hope to introduce innovative plans & events in the near future, thereby benefitting home buyers and letting them experience the joy of community living.

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SARE Homes welcomes the relaxation of FDI norms

With the Govt easing the foreign direct investment (FDI) norms for construction & real estate sector, SARE Homes expects a revival of the industry.

The Govt has relaxed norms relating to the built-up area, capitalization and the lock-in period. Also the minimum built-up area has been reduced from 50,000 square metres to 20,000 square metres and the minimum capitalization has been halved from $10 million to $5 million. Furthermore, if a developer constructs affordable houses on 30% of the project area, the new norms will waive off all the requirements for 100% FDI.

These measures are expected to double the inflow of funds into the realty sector. They are likely to attract investments in new areas, bring down the cost of construction, help in the development of smart cities and result in creation of low cost affordable housing.

On sharing his views on the new FDI norms, Vineet Relia, MD, SARE Homes said, “The revised FDI policy by the government will attract foreign investments towards small projects in developing cities.”

“It’s a step in the right direction by the Govt. We welcome the relaxation of norms, as it will open up capital markets and boost fund flow, but there are various challenges faced by the industry like enforceability of contracts and delays in project permission. Govt must look into these concerns and introduce bigger reforms which are required to make it easier to do business in India,” said David Walker, MD, SARE Homes.

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