Noida: The residential market in Delhi NCR is already quite slow. The restrictions imposed by the Real Estate (Regulation and Development) Bill and the clause which makes it compulsory for developers to set aside 70% of the funds in a separate account to be used only for developing the project will possibly make the market condition even worse. NCR developers are at present full of worries and complaint.The move is also supposed to impact liquidity of the real estate industry the National Capital Region.Compared to the previous quarter new residential launches in Delhi NCR declined by 39% in the present quarter. Noida witnessed 34% and Gurgaon witnessed 66% new launches. In Gurgaon launches took place mostly in the suburbs. The statistics had been released by property consultants Cushman & Wakefield.The cost of land amounts to about 60% of the entire project while actual construction of the project requires 30-35% of the entire cost. Developers are agitated by the requirement that in spite of the huge cost of land 70% of the fund has to be set aside for construction and not for the buying of land. The Founder and CEO of Fire Capital, which has plans to set up a few projects in Noida and Gurgaon, Om Chaudhry said that fresh residential projects will not be able to come up this way as most developers need the money to buy land since they are not funded by any other source.Supertech Director R.K. Aurora declared that this will definitely slow down the market even further and would discourage fresh investments as 70% of the fund has to be put into escrows. Aurora and Chaudhury agreed that, “PE firms or other investors would not like to park money in escrows and keep waiting or returns.”The real estate developers are complaining about the fact that while developers are buyers are being held accountable, no responsibility is thrust upon the bureaucrats and regulators. This complaint is rooted to the fact that the new regulations will possibly increase the number of approvals that are required and hence completion of project will be further delayed. займ на карту без отказов круглосуточновзять кредит онлайн