It is an established fact that scheduled infrastructure projects tend to increase the value of properties in the adjoining areas. This occurs because the infrastructure project becomes a part of USP for the developers or property owners. There have been instances where property prices have increased 50-70% from the announcement of an infrastructure initiative until the operational phase.
Most banks lending for homes are only interested in providing mortgages to people who have a fixed annual or monthly salary and their important criteria for assessment is based upon the amount that is earned. The presumption is that only these people are capable of meeting their repayment options without default.
India Property Tax Rates have been rationalized as whole taxation system has undergone a change. These changes are basically to evolve the system and raise it to international standards.
In the year 2007 Preeti Banerjee bought a house in Royal Legacy, Vasundhara, Ghaziabad with the obvious high expectations of moving into a hassle free living. However, the dreams were soon shattered and she was exposed to the agony of an average middle class home buyer, often left alone at the mercy of the builders.
There have been many cases where the project gets a kick start and invites bookings only on the paper. The property dealer with their minor gains/commission advices the gullible buyers to put their money in the projects. The prospective buyer must take the help of a local advocate and request him to prepare a search report.