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New sectors drive demand in Noida

Delhi NCR

The recent times in the realty sector of  Noida have seen an upsurge in demand for the upcoming sectors. Sectors like 74, 76, 77, 120 and 121 have witnessed good demand. A lot of new residential projects have been launched in the last few years and buyers have shown keen interest in the projects present in these sectors.

Developers and builders  are coming up with mega housing projects in Noida and Greater Noida alike. On offer are a slew of housing options in different sectors of these twin cities! Sectors 74, 77, 76, 78, 120 and 121 are near to Noida Extension and also very near to the already developed sectors of Noida. They are being developed at a rapid pace and prices are competitive in comparison to the other sectors of Noida.

Developers such as Ajnara India Ltd, Amrapali, Antriksh, Earth Infrastructures, Gaursons, Supertech, Prateek Group, Gulshan Homz and JM Housing limited have projects here, which cater to budgets cutting across segments from middle-income group (MIG) to high income group (HIG). From affordable to luxurious, these developers are building residential projects in all the categories as the demand for each category is huge today.

Ashok Gupta, managing director, Ajnara India Ltd says, “Sector 74 and other nearby sectors have alot of benefits. The presence of posh localities like sector 50, 58 and the presence of commercial centres, malls and institutions have played a major role in the development of all these upcoming sectors. The pricing right now is comparatively quite low when compared to the other nearby sectors which we believe will surely bring a lot of capital appreciation in the near future. In fact, the presence of City Centre metro station has also helped in enhancing the connectivity for these upcoming sectors”.

Prashant Tiwari, chairman and managing director, Prateek Group says, “These upcoming sectors are very near to bigger and better developed sectors which give them the extra edge. Presence of commercial centres and other infrastructural facilities are the added benefits. We believe that with the world class features and technology being used, these projects will very soon surpass the average price in the area which will be an added benefit to all those who invested here.”

Another sector which has witnessed good demand is sector-121 which falls just across the sector-58 of Noida. Its close vicinity with major malls and commercial centres has driven a lot of demand in the residential projects present in this sector.

Deepak Kapoor, director, GulshanHomz, talking about the area said, “the presence of wide connecting roads and its proximity with other renowned sectors which already has a lot of demand have been the key factors driving the demand. The price in nearby sectors like sector-50, 58, 60, 61 etc are much higher if compared to the price in these upcoming sectors.” Hence any intelligent buyer with some time in hand will invest in these sectors for not just capital appreciation but also better technology and better lifestyle.

Dushyant Sinha, founder director, Integrated Centre for Consultancy Pvt. Ltd (ICCPL)

The views expressed in this article are the author’s own.

Source:  magicbricks.com

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Own a house in Delhi in just Rs 20-40 lakh

Delhi NCR

With property values increasing at a brisk pace, owning a house in Delhi has become a dream for many. However, the good news is that there is still an area where buying a home is possible under 40 lakh. With a restricted budget of Rs 20-40 lakh, Uttam Nagar offers a plethora of options to the home buyers, without compromising on connectivity and social infrastructure.

Located in West Delhi, Uttam Nagar has recorded a rise of 12 per cent over the last three months. As per data with Magicbricks.com, property rates for multi-storey apartments have climbed up from Rs 5,500 per sq ft in Apr-Jun 2013 to Rs 6,200 per sq ft in Jul-Sep 2013. With good connectivity and sound infrastructure, Uttam Nagar continues to retain its position among the top ten preferred localities in Delhi, as per Magicbricks.com research.

Here are a few contributing factors –

Accessibility

Uttam Nagar enjoys swift connectivity through roadways and railways. “Both Uttam Nagar Bus Stop and Metro Station are at a distance of just 1 km, which is the main reason why home buyers are considering the area as a potential option,” informs Ashish Verma, proprietor of Star Associates and Builders.

Property Values

The locality also offers a wide range of properties at different price points. As per data with Magicbricks.com, apartments of 450-750 sq ft are available within Rs 4,500-7,800 per sq ft. Thus, a 450-sq-ft apartment, for instance, is available at Rs 20 lakh. On an average, the wide range in Uttam Nagar is between Rs 20-60 lakh. For independent houses, the price range varies from Rs 60 lakh to Rs 2 crore. However, units with lower and higher values are also available.

In addition to affordability, the area is also providing economic relief in terms of capital values when compared to neighbouring Dwarka. Currently, “a 3BHK independent house in Dwarka would cost anywhere around Rs 1-3 crore. However, in Uttam Nagar, you may just have to shell out Rs 30-40 lakh for the same configuration,” adds Verma. Thus, the area is also attracting the spillover demand from the negihbouring areas.

What’s available?

Interestingly, there is more demand and supply of builder floor apartments as compared to multi- storey apartments. Giving his insights on this, Javed Akhtar of Bharat Homes says, “as compared to the multi-storey apartments, the overall cost of builder floors and the maintenance charges are low.”

Rental accommodation

Uttam Nagar is a good residential catchment due to the availability of robust social infrastructure. From schools to hospitals, banks to shopping complexes, the area has it all. (Refer to the slide show). Thus, the area is also ruling the roost for rental accommodation. A 1BHK apartment is available for Rs 5,000-8,000 per month and a 2BHK apartment commands anywhere between Rs 8,000-15,000 per month.

Though there is not much new stock coming up, but Uttam Nagar is an actively transacted locality.

Nikunj Joshi, Magicbricks.com Bureau

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Noida, Greater Noida take center stage in real estate activity

Delhi/NCR

Investment in real estate is rewarding and can fetch you handsome returns. But for this, one must first ascertain the right areas to invest. Apart from Sohna Road and Dwarka Expressway in Gurgaon, there are a number of micro-markets where the returns can be good.

A DTZ report says that due to the scarcity of developable land in Delhi, the real estate activity has shifted to the peripheral locations of Gurgaon and Noida. The report said the primary difference between Gurgaon and Noida lies in the level of planned development and the rate of growth of the region.

While Gurgaon has registered faster development owing to the growth of service industries – primarily IT/ITeS—owing to its proximity to the airport, the development was more haphazard, with poor physical infrastructure. Noida, on the other hand, has far more planned urban infrastructure, with clear demarcations of different residential and commercial sectors.

Noida-Greater Noida

The stretches along the Noida-Greater Noida Expressway and Greater Noida, the planned extensions of the main Noida region, have seen heightened activity in the residential segment in the past two-four years. In Noida-Greater Noida, the sub micromarkets of Noida-Greater Noida Expressway, Yamuna Expressway and Greater Noida West (Noida Extension) are the emerging corridors of real estate development.
Noida-Greater Noida Expressway

Sectors 124 to 144 constitute Noida-Greater Noida Expressway. The micro market has a good mix of commercial, residential, and forthcoming retail, hospitality, educational, and healthcare projects.

Noida-Greater Noida Expressway has emerged as the next ‘go-to’ location for office space due to the shorter travel time (for commuters coming from New Delhi). This is attributed to better approach and negligible traffic congestion, along with better quality of construction, the DTZ report said.

On any given day, during peak hours, it easily takes around 1 hour and 30 minutes to reach Sector 62 from Connaught Place (CP), Delhi, whereas Noida-Greater Noida Expressway is only an hour’s drive from CP.

Infrastructural development and good connectivity have played a vital role in the growing demand for residential apartments along Noida-Greater Noida Expressway. In the last five years, the residential units along the expressway have registered more than 50% increase in average residential capital value—from Rs 3,500 per sq ft in 2009 to Rs 5,200 per sq ft in 2013.

Several prominent developers like Jaypee, 3C, Ajnara, Logix, Supertech, Unitech, etc, already have more than 30 residential projects, at various stages of construction, in the region. These projects range from mid-end to premium segment.

The fast-developing residential segment has given impetus to the ancillary sectors like education, healthcare, and hospitality. Several reputed schools like Delhi Public School, Ryan International, Jaypee Public School, Somerville International School, The Shriram Millennium School, Genesis Global School, Lotus Valley International School, Mayoor School, JBM Global School, etc, are in the area; several colleges are also functional here.

Kailash Hospital, ITS Dental Hospital, and Sharda Hospital are a few hospitals in the vicinity. Additionally, popular hospitality brands like Westin Resort, The Lalit Grand, Grand Hyatt, and Marriott have planned projects along the expressway.

Infrastructure is certainly better planned along the Noida-Greater Noida Expressway. The new master plan has a provision to extend the Metro network and connect Noida and Greater Noida with the developments on the expressway.

A 28km-long track will be constructed between Noida-Greater Noida, which will further be extended up to Yamuna Expressway. This line will link Sector 32 via Sectors 50 and 71. The master plan also has provision for adequate supply of water, power, and sewerage. The plan to develop basic infrastructure includes a road network of over 20km, a 126MW captive-power generator, and sewage-treatment plants with an aggregate capacity of 30,000 kilolitres per day.

As per the master plan, 70% of the total development on Noida-Yamuna Expressway is to be green. Space has been allocated for 40 educational facilities and a variety of retail shopping facilities.

The DTZ report says that the end users should invest in this area primarily due to the well-planned and sustainable infrastructural development along with the availability of affordable and midend residential options compared to its counterpart, Gurgaon.

Investors can get better options—in terms of quality and area—against the same amount invested in Gurgaon. Also, with the new master plan aimed at developing a high-quality infrastructure in the region, the appreciation is definitely going to be worth the investment.

Noida-Greater Noida Expressway certainly has a lot of potential, which it has already started leveraging, given the fact that the established micromarkets like Gurgaon and Noida are expanding towards the periphery now.

Yamuna Expressway

Yamuna Expressway is expected to be the next hotspot for large-scale development like integrated townships, logistics, and warehousing hubs, the report said.

The proposed Export Promotion Zones, which include Taj Economic Zone along the Yamuna Expressway, will accelerate the economic development of the area. Currently, the locality is registering high demand from the middle-income buyers, especially those investors who have a limited budget. With the Formula One race track in international limelight and with several new forthcoming facilities like Jaypee Sports City, Night Safari, etc, the expressway will register the next big wave of development, which will expand the city boundaries.

The residential prices in this region are among the lowest, compared to other parts of the NCR. Hence, investors can expect a handsome appreciation of property prices here. For end users, low price points with projects by major developers present an equally viable opportunity.

In the last five years, Yamuna Expressway registered more than 100% increase in average residential capital values—from Rs 2,200 per sq ft in 2009 to Rs 4,800 per sq ft in 2013.

Between 2009 and 2013, nearly 20,000 residential units across 10 projects, ranging from affordable to mid-segment, have been launched in the area. The area saw the maximum launches in 2010.

Yamuna Expressway is expected to receive nearly 12,000 residential units between 2013 and 2017. Along with residential apartments, Yamuna Expressway also offers options in plots for investment. The residential plots are available in varying sizes ranging from 100-350 sq yd costing from Rs 1 lakh to more than Rs 5 crore. Also, this region has a few township projects announced, and with ancillary developments like Jaypee Sports City and Gautam Buddha University coming up, along with other social infrastructural projects, this region is expected to turn into a large-scale residential hub with world-class amenities.

Greater Noida West (Noida Extension)

Greater Noida West (formerly known as Noida Extension) has always been the hub of affordable housing with the initial project launched back in 2009-10 at Rs 1,800-2,000 per sq feet. At this cost, the dream of owning a home seemed a reality for most of the potential homebuyers and a lucrative investment opportunity for investors.

However, land acquisition issues (litigation over the compensation to farmers) and the Allahabad high court’s order in October 2011 to get the Greater Noida Master Plan 2021 approved before further construction work is taken up, were major setbacks to the Greater Noida West property  market, the report said.

Developers as well as buyers and investors heaved a sigh of relief as the impasse over the area ended with the approval of Greater Noida’s Master Plan-2021 by the NCR Planning Board in August 2012, paving the way for resumption of construction of hundreds of housing projects halted in the area.

Greater Noida West is a developing residential hub with much potential. In order for it to emerge as a self-sustained ecosystem, development at all levels is essential. Hence, developers have also started launching commercial projects to tap the extensive residential catchment. Some of the key commercial projects are Amrapali Techno Park, Premia Corporate City, Earth Commercial Park and Imperia. These townships are also coming up with a number of 5-star hotels, malls, etc.

Greater Noida West has excellent connectivity with Greater Noida, Noida as well as Delhi. The proposed Metro line expected to link the area in the near future has made the location even more attractive. As per the proposed Metro network plan, to provide direct connectivity to the existing Sector 32, the Metro line will be extended up to Greater Noida West via Sector 72.

The 7km-long stretch is estimated to cost around Rs 1,400 crore. At least two stations are proposed to be built on this line. The City Centre Metro station, which is proposed to link Sector 62, will branch out at Sector 71 to take the line till Greater Noida West. A 100-metre wide commercial belt is planned on one side of the 130-meter road as per Master Plan-2021.

In a nutshell, the DTZ report said Greater Noida West is back in the game with the bustle of brick and mortar resumed. However, potential buyers have to carefully evaluate the projects before they buy or invest. They should carry out a thorough due diligence and ensure that the project that they select is clear of all legal encumbrances. The area will certainly register increased pace of real estate activity and will fetch good returns for investors who have an investment horizon of three-four years.

Source: Times Property, The Times of India, Delhi/NCR

For more Information Sanjay Rastogi,   Email Us    Real Estate Developers in Delhi NCR     Real Estate Developers in Greater Noida  Or SMS :SAVIOUR at 53030

Top realtors rush to hills to tap holiday home demand

Luxury holiday homes in the hills are once again becoming an object of desire and India’s top real estate companies in delhi/ncr  are ready to meet this demand, especially as the slowdown has eroded sales in urban markets. Entrepreneurs, retired industrialists and top executives are all looking to pick up a second home to get away from the hassles of city life.

While small local developers have been offering homes in the hills in places such as Shimla, Kasauli, Nainital and elsewhere, it’s the entry of larger national players such as DLF and Tata Housing, besides others such as Fire Capital and Woodside Developments that has energised the market.

Tata Housing has launched a gated project in Kasauli in Himachal Pradesh which will have 70 villas spread across 24 acres. The Myst villas are priced at Rs 3.5-8 crore. Woodside Developments is close to completing a project in Kasauli with 35 villas of 2,800-5,000 sq ft area and a clubhouse.

Buyers include Dabur Group chairman emeritus Vivek Burman, Ambuja Cements chairman emeritus Suresh Neotia, Rajya Sabha MP and lawyer Abhishek Manu Singhvi, Arun Bharat Ram of SRF Group, Deepak Jain of Lumax Industries and Ram Sarvepalli, partner at EY. DLF has launched one project each in Kasauli and Shimla, where it is selling plots as well as homes.

“Luxury developments in the hills are the most sought after today as ideal holiday home destinations,” said Jaiwant Daulat Singh, director, Woodside Developments. The market has grown in the last few years as people have moved beyond beach destina tions for holiday homes.

Gated communities in the hills are a new concept, said Rajeeb K Dash, head of marketing at Tata Housing. “People are looking for a contemporary lifestyle even in their holiday destinations.”

Tata Housing has sold close to 20% of inventory in the first destinaphase of its Kasauli project, marketed as a mix of lifestyle and nature. “Ours is a biophilic design,” he said, which implies harmony with nature.

Until recently, there weren’t too many options for buyers except for projects built by local developers where quality was an issue, said Mudassir Zaidi, national director, residential, Knight Frank India. “Now with some credible developers in the fray, people know what to expect.”

Private equity fund Fire Capital has entered the segment with a  luxury apartment   project called Clouds’ End in Kufri, also in Himachal Pradesh, where apartment sizes have been deliberately kept small to bring down the ticket size —Rs 60 lakh to Rs 1.5 crore.

Change in law helps buyers

In states such as Himachal Pradesh buying property isn’t easy for people from outside the state. They can, however, buy land from an agriculturist if they get approval under Section 118 of the Land Reform Act of 1972.

The new Town and Country Planning Act that was put in place in September to replace the erstwhile Himuda Act of 2005 has brought more clarity to the transfer/conveyance of land and buildings for projects approved under Section 118. This means apartments in projects by developers which have approval under Section 118 can be bought by outsiders.

Source: The Economic Times, Delhi/NCR

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Gurgaon Extension: Emerging affordable alternative to Gurgaon

Delhi NCR

With Gurgaon having experienced a real estate boom, the next destination that’s going to attract investors is likely to be Gurgaon Extension: the new name of fast developing Sohna Road. Close on the heels of its new Master Plan 2031, new group housing projects, townships, plotted developments and luxury projects have been announced leading to what realty experts say will result in a boom in the coming years.

Raheja Group is perhaps one of the first developers to launch its project, Aranya, on a land bank it aggregated in 2008-2009 under the old Master Plan. It is an integrated township close to IMT in Gurgaon Extension (Sohna) where a 1,700 acre industrial estate is planned by the Haryana government.

Goldsouk Group is another major player which has a huge land bank in Gurgaon Extension and will soon be coming with multiple projects in Gurgaon Extension. The Group today has over 200 acre of land bank in the area and the land bank stretches from sectors 16, 17, 18 and 25. The group very soon plans to invest and develop multiple projects in Gurgaon Extension. The group foresees a growing demand for affordable homes in and around the areas of Gurgaon.

“Gurgaon Extension is located at one vertex of the triangle with Gurgaon and Faridabad occupying the other two vertices. With Gurgaon having experienced the real estate boom, the area between the city and Gurgaon Extension is witnessing the after effects of this boom. Also, with the KMP Expressway linking NH8 to NH2, the triangle is expected to see sustained long term  real estate  interest,” says Ashish Gupta, JMD, Goldsouk Group.

“Gurgaon Extension or the Sohna Road and its surrounding areas display all the signs of development that a satellite area bordering a hot and happening Tier 1 zone (Gurgaon) shows. The area can be described in two segments –Gurgaon Extension 1 and 2: The first zone covers Sector 38 (Rajiv Chowk) to Sector 66 (Vatika Site) and the second one starts from the road that runs down from Universal Business Park to Badshahpur and beyond till Gurgaon Extension,” says a realty expert.

According to experts, the value of investments could double once IMT Sohna is up and running. Also, the Delhi-Mumbai dedicated freight corridor is located close by, and all the mega industrial estate and infrastructure coming up along with the KMP corridor will add more value to the investments here.

Another realty expert says, “The prospects are quite good but buyers should expect good returns only after four to five years. A good return on short-term investment is not possible. This is an emerging area and a lot of infrastructure is yet to be put in place. At the moment, the only existing attraction is Gurgaon Extension Road which connects NH 8 to the KMP Expressway.”

International Land Developers Pvt Ltd (ILD) is expected to launch a residential project by the end of the year. Avalon and Central Park are amongst the other developers planning to launch residential projects in the Gurgaon Extension belt, depending on the market conditions.

Dushyant Sinha, founder director, Integrated Centre for Consultancy Pvt Ltd (ICCPL)

Source:  magicbricks.com

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Noida to become luxury private residence hub in North India

Delhi/NCR

Noida real estate  market touched a new high after worldwide luxury hospitality giant Four Seasons launched its private residences by Four Seasons at mix land-use property in Delhi One with a cost of Rs 3,500 crore.

At a cost between Rs 10 crore and around Rs 25 crore, service apartment owners would be able to enjoy hotel-like facilities such as valet service, temperature controlled swimming pools, concierge, personnel laundry, transport services, in-residence dining, housekeeping and others.

While launching branded residences of Noida project, Chris Hart, president, hotel operation, Asia-Pacific, Four Seasons Hotels and Resorts said that “out of 92 Four Seasons hotels across 38 counties, 27 have residential components”.

When asked why chose Noida as a destination to enter in the North India market, Hart said, “Noida has a great potential. It is rich in greenery and natural beauty and also loaded with world class infrastructure. Delhi One is the result of a winning combination.”

The 3C’s Delhi One project spread on 12.5 acres next to Delhi-Noida-Delhi (DND) toll Plaza in Noida, features Four Seasons Hotel, three adjoining towers of Four Seasons private residences connected to the Hotel via a sky bridge, five commercial office towers as well as luxury retail, high end restaurants and cafes.

180 Four Seasons private residences having size of 7, 500 sqrft to offer in Delhi One project, a mixed-land use iconic Noida address which is R 3,500 crore project as claimed by the 3C realtor. These branded residences’ interior is inspired from London Decor, California and Manhattan.

“The definition of quality living has been transformed. Elites in Delhi-NCR and other parts of the country too ready to spend to enjoy quality living. In last five years, India has witnessed 10-15% growth in luxury segment of housing, and Noida is an ideal market for it because of the vision this city holds,” said Vidur Bharadwaj, director, the 3C Company. “Depending on the theme, the cost of each private residence will cost ranges from Rs 22000 and Rs 26000 per sq. feet,” Bhardwaj said.

From being an affordable housing destination, Noida has slowly transforming into a hub of luxury and high-end projects to give a stiff competition to the neighbouring city of Gurgaon in Haryana.

The chairman of the three authorities of Noida, Greater Noida and Yamuna Expressway, Rama Raman, said, “Now, Gurgaon will have only one USP, which is close proximity to the airport. As builders are coming up with projects developed by world class agencies, in the next five years, Noida will beat Gurgaon in all respects.”

Even developers are upbeat about the new tag being given to the region. The CREDAI (western UP) vice-president and CMD of Supertech, RK Arora, said that this change was imminent as time demands it.

“World renowned Italian couturier Giorgio Armani is designing an exclusive flat in the Supernova project. The cost of one designer flat with an area of 4,000-5,000 sq feet will be around Rs 10 crore. For starters, Raj Kundra has decided to purchase a flat for his wife, Shilpa Shetty, in Supernova,” Arora added.

Another project, Curio City, will be using extensive art styles in design with an amalgamation of several schools of art – Middle East, European and Contemporary. The township will have a mix of plotted development, villas, group housing, commercial establishments, club, institutions, hi-street and luxury retail, 5-star hotel, business hotel, etc.

“Investors, especially NRIs believe that investment in luxury serviced apartments is a wise decision as it offers solid returns in a short duration of time,” said Amit Gupta, member Assocham and MD of Orris group.

With Rs one thousand crore investment Bhasin group is building Mist Avenue IT Park in sector 143 along Noida Expressway. The group under its Mist project is offering bungalows ranging between Rs six crore and Rs 10 crore.

Source: The Times of India, Delhi/NCR

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56,000 residential units to come up in Noida by 2014

Delhi NCR

The Noida real estate has grown much in the last five years in terms of pricing and project launches. However, the city is still primarily known to be an investor market and is facing low occupancy rate. Experts say that the major reasons behind this are delayed projects and less availability of ready-to-move-in apartments.

In order to fight off the low occupancy rates, Noida will soon see a high number of residential units to be delivered by next year. “Out of one lakh units, 56000 units are expected to be delivered in 2014 in Noida, which will certainly have positive impact on demand in the city,” says A K Jain, director, Affinity Solutions.

Noida is considered affordable by the realty buyers as residential prices here range from Rs 4,000-6,000 per sq ft. Whereas, in Delhi the rate is above Rs 15,000 per sq ft and in Gurgaon, it ranges between Rs 10,000 -15,000. “Despite known to be one of the affordable destinations in Delhi, Noida today is facing low occupancy rate. Out of one lakh residential units, only 5000 have been delivered till date in the city,” adds Deepak Batra, CEO, Propworld.

“Lot of projects are getting delayed and are under construction. People who invested about 5 years back are still investors and have not occupied the space as yet. The low levels of occupancy will certainly impact the demand in the city”, adds Jain.

To set a benchmark, he says, if there are 10,000 apartments, at least 6000 units should be occupied to push up the property market.

Another reason to affect the occupancy rate in the city is the flat commercial real estate market. The commercial realty in Noida never really picked up. There are several reasons behind it. Experts say since commercial real estate is sold on super area, it comes with high rental cost, whereas on the other hand industrial space is sold at carpet area. “Commercial space comes along with 40-45 per cent loading space at a rent of Rs 150 per sq ft, whereas the industrial property is available at a rent of Rs 20-30 per sq ft,” says Sanjay Sangwan, director, Kartik Real Estate. “Moreover, with low Floor Area Ratio in Noida, developers are not able to build up huge commercial spaces as demanded by IT companies,” he adds.

So how can the occupancy rate be pushed up? “To bump up the occupancy rate in residential buildings, it is important that IT sector and MNCs shift here. Construction of airport and timely delivery of residential projects will also play a significant role in boosting the property market in Noida,” say Jain.

Source:  magicbricks.com

For more Information Sanjay Rastogi,     Email Us      Real Estate Developers in Delhi NCR      Or  SMS :SAVIOUR at 53030

 

Gurgaon Extension: Emerging affordable alternative to Gurgaon

Delhi NCR

With Gurgaon having experienced a real estate  boom, the next destination that’s going to attract investors is likely to be Gurgaon Extension: the new name of fast developing Sohna Road. Close on the heels of its new Master Plan 2031, new group housing projects, townships, plotted developments and luxury projects have been announced leading to what realty experts say will result in a boom in the coming years.

Raheja Group is perhaps one of the first developers to launch its project, Aranya, on a land bank it aggregated in 2008-2009 under the old Master Plan. It is an integrated township close to IMT in Gurgaon Extension (Sohna) where a 1,700 acre industrial estate is planned by the Haryana government.

Goldsouk Group is another major player which has a huge land bank in Gurgaon Extension and will soon be coming with multiple projects in Gurgaon Extension. The Group today has over 200 acre of land bank in the area and the land bank stretches from sectors 16, 17, 18 and 25. The group very soon plans to invest and develop multiple projects in Gurgaon Extension. The group foresees a growing demand for affordable homes  in and around the areas of Gurgaon.

“Gurgaon Extension is located at one vertex of the triangle with Gurgaon and Faridabad occupying the other two vertices. With Gurgaon having experienced the real estate boom, the area between the city and Gurgaon Extension is witnessing the after effects of this boom. Also, with the KMP Expressway linking NH8 to NH2, the triangle is expected to see sustained long term real estate interest,” says Ashish Gupta, JMD, Goldsouk Group.

“Gurgaon Extension or the Sohna Road and its surrounding areas display all the signs of development that a satellite area bordering a hot and happening Tier 1 zone (Gurgaon) shows. The area can be described in two segments –Gurgaon Extension 1 and 2: The first zone covers Sector 38 (Rajiv Chowk) to Sector 66 (Vatika Site) and the second one starts from the road that runs down from Universal Business Park to Badshahpur and beyond till Gurgaon Extension,” says a realty expert.

According to experts, the value of investments could double once IMT Sohna is up and running. Also, the Delhi-Mumbai dedicated freight corridor is located close by, and all the mega industrial estate and infrastructure coming up along with the KMP corridor will add more value to the investments here.

Another realty expert says, “The prospects are quite good but buyers should expect good returns only after four to five years. A good return on short-term investment is not possible. This is an emerging area and a lot of infrastructure is yet to be put in place. At the moment, the only existing attraction is Gurgaon Extension Road which connects NH 8 to the KMP Expressway.”

International Land Developers Pvt Ltd (ILD) is expected to launch a residential project by the end of the year. Avalon and Central Park are amongst the other developers planning to launch residential projects in the Gurgaon Extension belt, depending on the market conditions.

Dushyant Sinha, founder director, Integrated Centre for Consultancy Pvt Ltd (ICCPL)

Source:  magicbricks.com

For more Information Sanjay Rastogi,     Email Us     2 BHK and 3 BHK Flats in Delhi NCR    Or  SMS :SAVIOUR at 53030

Property News in Delhi NCR | Investment hotspots in Delhi are alive & robust

Delhi/NCR

Historically, real estate has been amongst the preferred asset classes for investors in India. In recent years, the attractiveness of real estate as an asset class has been further augmented by the increasing demand for more and betterquality housing, additional office space requirement owing to expansion and consolidation by several corporates, and last but not the least, advent of modern retail formats, a report by real estate consultancy firm DTZ said.

It is no secret that investments in real estate have been one of the greatest wealth builders in history. With growth across major smaller cities slowly picking up, the report said there are yet emerging investment ‘hotspots’ in traditionally favourite real estate markets like the Delhi NCR. We would like to highlights the strengths and weaknesses of these destinations for our readers.

Over the years, a few micro markets in the Delhi NCR have emerged as destinations for future investments, which not only provide relative affordability but have also transformed majorly owing to infrastructural development and improving connectivity, with the potential to attract real estate demand across segments—residential, office and retail. Such destinations are likely to give better return on investments than those areas, which are already fully developed.
The satellite towns of Delhi like Gurgaon, commonly known as Millennium City and Noida-Greater Noida, are the growth engines of real estate development in the Delhi NCR  and have given good returns in the last 20 years.

Gurgaon is home to 300 companies from the Fortune 500 list; consequently, it has thousands of white collared workers living here. In Gurgaon, the sub-micromarkets of Sohna Road, Dwarka Expressway, and the new sectors (Sector 76 to 95 along NH-8) are on track to become the future real estate hubs of the city, the report said.

A slew of forthcoming infrastructural projects, large availability of developable land, and comparatively lower property prices are some of the key attributes that make these locations potential investment destinations.

Sohna Road
Sohna Road has developed into a self sustained ecosystem with a good mix of commercial, residential, and retail segments, DTZ said in its report. The area is well connected with NH-8 and Golf Course Extension Road. The alternative route to NH-8 via Southern Peripheral Road (SPR), under construction, will further boost its connectivity.

Sohna Road has upscale schools like GD Goenka World School and Pathways World School, and high-end healthcare facilities like Medanta Medicity and Artemis. This area has transformed from a low-profile suburb into a much sought after real estate investment hotspot, the report said.

The competitive advantage of Sohna Road is primarily fourfold:
– Demand for a wide range of residential and commercial premises at comparatively lower rates than established sectors of Gurgaon
– Proximity to established real estate hubs of the city
– Good connectivity and infrastructural development
– Lucrative financial returns in last four years, which exceed benchmarks of several established real estate hubs in the metropolis
According to the report, the area is good for end users. However, because of the good availability of residential units, one needs to remain invested for a longer period to reap handsome returns.

In the long run, several forthcoming universities and institutions in the area may bring in high rental income, thereby infusing capital appreciation, the report said. New residential projects are coming up in the adjoining areas of Sectors 33, 34, 48, and the sectors along Southern Peripheral Road and are a good investment option, as most of them are under construction offering potential for capital appreciation.

Also, this location has a huge opportunity for individuals to become landlords. There is an abundance of income-generating commercial assets, which can be bought at 6-8% yield, depending upon the quality of the lease and the building quality. However, the report cautioned that immense care needs to be taken during the documentation, so that a buyer does not end up with the wrong asset and putting his hard-earned reserves to risk.

Dwarka Expressway
Dwarka Expressway, also known as Northern Peripheral Road, is a new link connecting Dwarka with Gurgaon through an eight-lane (150-metre-wide) expressway starting from Dwarka in Delhi and connecting Palam Vihar, Gurgaon to join the NH-8.

It is one of the latest hotspots for home seekers and potential investors, the report said. Its proximity to the capital city and the IGI airport gives it an edge over other forthcoming real estate destinations like Dharuhera, Bhiwadi, Yamuna Expressway, and Noida-Greater Noida Expressway, the DTZ report said.
The competitive advantage of Dwarka Expressway is primarily fourfold:
– 
Good connectivity with Gurgaon and Delhi
– Proximity to the IGI airport
– Better infrastructural development expected
– Better-quality residential units at lesser cost. A similar quality residential unit in Gurgaon or Palam Vihar will cost at least two to three times more and, in some cases, in spite of the high cost the quality of construction and amenities provided might not even match up.

Identifying the competitive advantage: Since Dwarka Expressway is still an emerging real estate destination with much potential for growth, the location scores, on average, as much as Gurgaon on financial returns. Similarly, due to its proximity to New Delhi Railway Station, the IGI airport, and other established commercial hubs of south Delhi and Gurgaon, the location scores, on average, over Gurgaon on connectivity as well.

In the last five years, Dwarka Expressway has registered around 200% increase in average residential capital values—from Rs 2,400 per sq ft in 2009 to Rs 7,000 per sq ft in 2013. Between 2009 and 2013, the location has recorded the second highest number of project launches, next only to the new sectors in Gurgaon, in terms of number of units. Nearly 18,000 residential units have been launched here in the last five years, across 44 projects, ranging from mid to premium category.

Dwarka Expressway is expected to receive the second highest number of residential units (nearly 24,160) between 2013 and 2018, the DTZ report said. Almost all the prominent developers-BPTP, Puri Constructions, Raheja, Mahindra Lifespaces, Sobha Developers, Ansal Housing, Assotech Limited, Paras, ATS, and Ramprastha Builders—have launched more than 50 projects on Dwarka Expressway, which are in various stages of construction. These projects range from mid-end to premium segments. The expressway is still under construction; once it is operational, it is expected that the travel time from Gurgaon to west Delhi during peak hours would be reduced from 90 minutes to 45 minutes. This area is being developed with better infrastructure and roads are expected to be 60-75 metres wide paving for smooth traffic flow.

The sewage and electricity distribution systems are also likely to be better and more advanced. The nearby locations of Palam Vihar, Gurgaon, and Dwarka already have decent infrastructure in place. However, the snail’s pace at which work on the expressway is progressing, along with litigation issues with respect to land acquisition on a 4km-stretch of the expressway, is stymieing the growth of the corridor, the report says.

We will cover other hotspots like NH-8 in Gurgaon and Noida-Greater Noida Expressway in Noida, Noida Extension in Greater Noida, Greater Noida, and Yamuna Expressway in the next issue.

Source: Times Property, The Times of India, Delhi/NCR

For more Information Sanjay Rastogi,     Email Us     Real Estate Developers in Greater Noida     Or  SMS :SAVIOUR at 53030

From Facebook to Neem, it is about ‘you’ a home buyer

Delhi NCR

Real estate developers  in the NCR are coming up with personalised services to satisfy customers and earn credibility in the market.

What will be your reaction when you take possession of your long-awaited, newly-constructed home and find that its verandah opens up right in front of your neighbour’s balcony? Changes in layouts do happen many times and even if it does not, there are chances that you would not notice the nitty-gritty of such aspects by going through a layout as given in the brochure. Not anymore.

The new age real estate companies operating in the National Capital Region (NCR) look set to take personalised services to the next level. From granular detailing of apartment layouts to an active use of Facebook, the real estate sector in the region shows signs of gradual transition from being an unorganised sector to an organised one.

Today home buyers come equipped with information and they are usually in no hurry to take decisions. To meet their expectations, developers in the region are putting themselves in customer’s shoes. “Developers actually need to plan and design apartments as if they are going to live there,” says Aman Agarwal, director, KV Developers.

Developers recognise that a property transaction cannot be treated as a one-off transaction. If their customers do not get what they were promised or get something which is apparently unfair, it affects their credibility in the market. There are developers who have sold their projects largely because of good word-of-mouth publicity from their past and present customers, and that reflects the significance of this medium.

Do not be surprised when a developer’s sales staff talks about the presence of separate resting areas for your car driver and maid, in the project. There are possibilities that you find provisions for plants of religious importance within the campus, so that you do not have to search for Tulsi (Holy Basil) and Neem (Indica). “On one side, it is humane to provide facilities to people who work for you, and on the other, it enhances security and safety arrangements,” says Abhay Kumar, chairman and managing director, Grihapravesh Buildteck.

The use of social media channels is also increasing, and the idea is not just to engage you as a customer but to provide relevant information about maintenance of your home. There are several projects, under which you will get a detailed break-up of your monthly electricity bill in your Facebook account. There you would also be able to check what all is happening and what all events are going to be organised within your township in the coming weeks. At a time when it may take years to come to know your neighbour’s name, the new ways to engage with the society and develop a sense of close-knit community are coming up, and the number and type of such initiatives is likely to increase in the times to come.

Vikram Jethwani, Magicbricks.com Bureau

Source:  magicbricks.com

For more Information  Sanjay Rastogi,    Email Us     Real Estate Developers in Delhi NCR     Real Estate Developers in Greater Noida   Or SMS :SAVIOUR at 53030

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