Traditionally an Indian home was never complete without a courtyard and a vegetable farm. However, with space becoming a much coveted item in urban Indian clusters, gardens are increasingly becoming a rarity in most homes.
At the same time, ardent lovers of gardening are not just investing in cozy country homes located away from the city centres, new age gardening concepts like terrace gardens are also catching the fancy of verdure lovers. As a result, gardening- typically regarded a western hobby- is flowering like never before!
Be it hanging pipe planters on PVC pipes, potted tomato plants, exotic culinary herbs planted in boxes and troughs, rose gardens or traditional garden hedges- gardening comprises a wide gamut of fanciful options. One only needs a dash of imagination and innovation to create wonders with our green friends.
While pipe planters on PVC pipes present an unusual gardening idea, growing potted tomatoes and other vegetables are gradually growing in popularity. Earlier, no Indian household was complete without the humble Tulsi or Basil in the front courtyard. Now again, Basil has found a special place in the kitchen gardens of gardening connoisseurs who have started growing it and other exotic herbs like thyme, sage and mint with great care. Rose gardens and traditional garden hedges call for sprawling gardens and lawns that are uncommon, but not entirely impossible to come across in the homes of the well-heeled.
In this day and age of anxiety and stress, gardening presents a wonderful hobby in which to spend one’s time constructively. As a result, more and more urban Indians are taking it up and thereby, lending fresh dimensions to this evergreen pastime.
Ghaziabad, an upcoming city located in the Delhi NCR is gradually becoming a hub of residential housing projects. Growing and developing at an astonishing rate, Ghaziabad is no longer considered a dusty, suburban town but a city that holds great promise in terms of realty development.
It is no great secret that buying a home in Delhi is no longer an economically feasible option for those in the middle income bracket. With house prices having spiraled in places like Gurgaon and Noida, Ghaziabad is definitely the next destination of those desirous of buying or investing in homes in the Delhi NCR.
Having realized the enormous real estate market potential of Ghaziabad, various realty players are investing in residential projects, most of which are slated to be ready for handing over within the next 2- 3 years.
The mushrooming of several glittering malls and shopping complexes alongside these residential projects is a sure indication of Ghaziabad’s blooming status as an upcoming city.
A great many of the residential housing projects of Ghaziabad are well planned condominiums offering modern amenities like ample parking space, security apparatus, swimming pool, children’s park, games’ court, health spa, gym and so on. Many of them are also located in the midst of nature which should be an added attraction for nature lovers.
These beautiful homes equipped with the aforementioned facilities are also affordably priced. Best of all, they offer the middle and upper middle class buyer a lifestyle he might always have aspired to live without burning a hole in his pocket.
Navratra is considered very auspicious time for new deals; prospective homebuyers must bear in mind that realty investment always pays, and one should not wait for prices to fall as it rarely happens—in the Indian market.
As Pitrapaksh comes to an end, are you ready to buy your first-or second-house during this auspicious Navratra days?
This is a time when even the most cynical customers, the habitual nitpickers, start to plan to buy their long-cherished house-they either book a flat during this period, or start their search mission for one.
Realty analysts are of the view that rather than wait for a time when prices fall in the realty market, one must scour the market and book a flat according to one’s budget. For one, an endless wait will only get longer, as prices rarely come down in the Indian real estate market.
Given the trend of rising property prices over the last few years, the price of the property you have shortlisted will most likely keep going up, even as you wait. By all accounts, residential real estate is one asset class whose rates have been steadily rising in most markets.
While analysts have been saying that residential property markets in locations like the National Capital Region and Mumbai are ripe for a price correction, developers have been able to hold on to prices even as buyers wait for a fall. Given the demand-supply imbalance, the trend is likely to continue and your investment will, in all possibility, stand you in good stead even when other assets take a beating.
Nikhil Jain, CEO of Ramprastha Developers, says: “If you are thinking to have your own house or second property, you should not mind investing in the outskirts of your city. With the passage of time, even outskirts become part of the city.”
There are many people in the capital who would tell you that when they bought property in a particular area, it would be invariable without any worthwhile facility; but a couple of hard years later, development invariable happened. And with development, the value of their property climbs manyfold. That has changed the class character of a large number of people. As the rates have gone up in main parts of the city, one should not mind investing in the outer or little unknown areas of the city.
Investment advisers say that, if possible, one should buy another house before retirement. Those who have no pension to fall back upon after retirement must buy another property, as it would give them social security at the later stage of their life. The thinking behind this advice is that if you have more than one property, you can give the second house on rent and earn a good amount by way of rentals.
Those who invest in property cannot be losers; this is especially true for all those who do not get pension benefits in their current profession. It goes without saying that immovable property is a huge asset one can bank upon when the chips are down.
Property can be a great source of income for your retired life or in case you lose your job; lakhs of people have lost their jobs since the global economic crisis a few years ago. There is little doubt that property is a sound investment proposition, provided you make it at the right time.
Nevertheless, experts advise prospective buyers to invest in only those projects whose developers have a proven track record.
Gaurav Mittal, CEO of CHD Developers, says: “I have observed that the number of those buying second homes in the NCR is swelling fast. That is an indication that the present generation knows for sure that investment in property will help their cause if they were to fall upon bad days.”
Devinder Gupta, CMD of Century 21, says: “Between land and constructed property, a plot is a more lucrative option as it is much easier to sell-also, the rate of appreciation is higher. If you live in Delhi, you should not think twice in buying land in any part of the NCR; it is bound to give you enough returns in the future.”
Talking about the Navratra period and the realty market, experts say this is one time when even those people who already own properties, go out and book one more. With jobs hardly permanent in nature, people have come round to the view that a second property is the surest insurance to fall back upon in their old age, and those among them who can afford it, book a second property before they hit 50.
- Realty analysts are of the view that rather than wait for a time when prices fall in the realty market, one must scour the market and book a flat according to one’s budget. For one, an endless wait will only get longer, as prices rarely come down in the Indian real estate market.
- Those who have no pension to fall back after retirement must buy another property, as it would give them social security at the later stage of their life.
The upward revision in repo rate by the Reserve Bank of India is likely to increase pressure on real estate developers to offer discounts in the upcoming festive season as they struggle to clear their inventory at a time when demand is tepid and interest rates are rising.
HDFCBSE -1.24 %, ICICI Bank BSE -2.36 % and Axis Bank BSE -0.44 % raised interest rates on home loans last month while State Bank of India BSE -1.24 % did so on Thursday and the RBI on Friday raised the rate at which the central bank lends money to commercial banks by 25 basis points.
“Discounts are now inevitable,” said Sanjay Dutt, executive managing director of South Asia at real estate services firm Cushman & Wakefield. This festive season is likely to see just a tenth of last year’s new project launches, according to an estimate by the Confederation of Real Estate Developers‘ Associations of India (Credai).
“Developers will want to sell their unsold inventory instead by using innovative schemes and discounts. Rising interest rates, though, will lower sentiments and could impact sales,” said Credai chairman Lalit Kumar Jain.
The festival season usually generates about 20% of the annual home sales. But demand has been severely hit this year due to the economic slowdown, higher inflation and job cuts in several sectors. The spike in interest rates can only add to the industry’s woes, developers said.
“If interest rates go up, demand will be impacted slightly,” said National Housing Bank chairman RV Verma. Home prices fell in 22 of the 26 cities in the quarter to June, according to the National Housing Bank’s residential housing index, Residex,
“If developers really reduce prices, some sales should happen this festive season. This is an opportunity for them to clear their inventory pile-up,” said a senior SBI BSE -1.24 % official, who did not wish to be named.
DLF’s group executive director Rajeev Talwar termed the increase in repo rate a missed opportunity. “There was a need to lower rates to stimulate demand,” said Talwar.
According to property research firm Liases Foras, close to 670 million sq ft of stock is lying unsold with developers as home sales have fallen over the past few quarters.
“We will not be launching new projects this festive season. Instead we will focus on delivering old projects and will offer schemes and discounts to get rid of our inventory,” said RK Arora, managing director of Noida-based developer Supertech.
Several developers are poised to launch new schemes for existing projects and also offer innovative payment structures, said Ankur Srivastava, chairman of GenReal Property Advisers. “They are also repositioning parts of existing projects to stir sales,” Srivastava said.
Freebies are now Inevitable.
DEMAND has been severely hit this year due to the economic slowdown, higher inflation and job cuts in several sectors.
BUILDERS will want to sell their unsold inventory instead by using innovative schemes and discounts.
MANY DEVELOPERS are poised to launch new schemes for existing projects and also offer innovative payment structures.
How these two income tax deductions apply.
You can claim an income tax exemption on your house rent allowance (HRA) as well as on interest paid on a home loan. Many salaried employees take a home loan to acquire a residential property but do not stay in that property for various reasons. They may stay in a rented premises and be in receipt of HRA from the employer. The exemption of HRA is covered under Section 10 (13A).
The conditions for allowing the exemption on HRA are:
The rent must actually be paid for the rented premises which you occupy The rented premises must not be owned by you
The amount of HRA exempt is the least of:
- The actual amount of allowance received by you in respect of the relevant period The amount by which the expenditure actually incurred by you in terms of rent exceeds one-tenth of your salary in the relevant period
- Half of the salary in the relevant period if the rented house is in Mumbai, Kolkata, Delhi, or Chennai
- 40% of the salary in the relevant period if the rented house is anywhere else
As long as the rented house is not owned by you, the exemption of HRA will be available up to the limits specified in the relevant rules. In case of interest paid on a home loan, the deduction is allowed while computing ‘Income from House Property’. In order to compute the ‘Income from House property’, the net annual value of the property is reduced by 30% and from the balance, the interest payable on the loan taken for acquisition or construction of this property is deducted.
In case the property is given on rent, the annual value will be calculated based on the rent received and the final ‘Income from House Property’ will be calculated. In case the property is lying vacant and is neither rented out nor self-occupied, the rental that could have been derived had it been rented out is taken as the deemed rental income and the calculation has to be then made.
There are a few circumstances under which the annual value of a self-occupied or vacant property is treated as ‘nil’. First, where the property is located in a city different from where you work, and you stay in a rented house.
You will be able to take the annual value of such property as ‘nil’ even though it is not occupied by you.
Second, where the property is located in the same city as your rented house but is in your occupation, and used to live in. In the case of a self-occupied property, the annual value is taken as ‘nil’. The only deduction is on account of interest on housing loan, which is restricted to a maximum of Rs 1.50 lakh.
- As long as the rented house is not owned by you, the exemption of HRA will be available up to the limits specified in the relevant rules.
- In case of interest paid on a home loan, the deduction is allowed while computing ‘income from house property’.
While sales take a dip during the Pitrapaksh, realty companies utilize the time to devise their marketing strategies and campaigns for the Navaratra, which is the most auspicious period for land purchases for the Hindus.
Those who think that all those attached to realty world take a long break during Pitrapaksha must wake up to the new reality.
Admittedly, while sales take a dip, realty companies make strategies to launch their marketing and other campaigns immediately after Pitrapaksh.
Pitrapaksha comes a fortnight before the Navaratra festival and is considered an inauspicious period in the Hindu religious calendar. Throughout the Hindu world, departed souls are remembered during Pitrapaksha. On each day of the fortnight, special offerings are made to ancestors whose lunar date of death corresponds to that particular day.
And once Pitrapaksh is over, Navaratra is considered the best time for the realty world. It is regarded as the most auspicious time for starting any new venture or buying anything new. Of course, Navaratra sees huge sale of properties. And in order to cash in upon the auspicious period, realty companies finalize their strategies to strike gold during Navaratra.
“We update our contact list in this period and also give final touches to our marketing strategies, so that by Navaratra we have inquiries pouring in and deals being finalized,” Ajay Singhal, director of Avalon Developers, says.
Realty companies avoid north Indians during Pitrapaksh; however, they are in talks with other communities, as well as non-Hindus, during this time and canvass their projects and products. “All the marketing guys of brokerage firms follow up on prospective customers. Thanks to the names and castes, they know whom they can and should contact during Pitrapaksh. While most people of this part of the country do not talk about buying flats during this period, others are not that fastidious,” Devinder Gupta, MD of Century 21 DGS, says.
It is not uncommon for people of all caste and religious denominations to hunt for their dream homes even during Pitrapaksha, but these people seal the deal only when this inauspicious period is over. “Currently, I am looking for a flat though I will not finalize the deal now. There would be a huge uproar in the house if I finalize the deal. My parents and wife will not allow me to enter the house,” Sajal Kalra, a pharmaceutical industry professional, says.
Realty players say that after a long lull in the market, things will improve during the festive session starting with Navaratras. While there is no dearth of possible buyers in the market, people expect the prices to go down. Sanjay Khanna, director of Kailash Nath Projects Pvt Ltd, says: “While it is true that the cost of flats have gone up over the years, buyers must not forget that the cost of construction has also been steadily increasing and developers need to factor this in while pricing their products. Land is a major component pushing up prices, followed by labour cost, and then iron, steel, and cement-none of which will come down in the foreseeable future.”
However, the cost of the product is not going to deter the genuine buyer, who is likely to return to the market as soon as the conditions are favourable. “I am sure end users cannot wait for very long to buy their flats. There are enough buyers in the market who are desperately keen to have a roof over their head despite the high cost of flats,” Sameer Jasuja of PropEquity says.
There is another view: prospective buyers are not firming up their deals due to the unprofessional conduct of a few realty firms. “Many firms do not hand over flats to their buyers and harass them on various pretexts, which puts off many more genuine buyers from the market,” D K Mandal, president of ILD Developers, says. In the light of this fact, realty firms too have to pull up their socks and keep their words.
Realty firms should seriously address the issues raised by customers in their complaints, as the National Consumer Helpline is getting a barrage of calls from harassed customers of flats and plots. The complaints are wide ranging and clearly indicate that all is not well with realty firms. They seem to look the other way as soon as their customers face some trouble. On an average, the National Consumer Helpline gets close to 75 complaints against the high-handed attitude of realty firms, daily.
The complaints are of various types: construction not completed within promised time, sale of disputed land or property, demand for extra money for various amenities, possession of flat withheld even after payment, promised area not given, not refunding money or cheque bounced, low-quality building material used, not giving the promised (booked plot or flat), builder stops work in between and asks for money for completion, taking deposit for booking and then cancelling the booking over various pretexts, etc.
On an aggregate, the demand in India’s six main markets has declined by around 40% in the past one year.
- Realty companies avoid north Indians during Pitrapaksh; however, they are in talks with other communities, as well as non-Hindus, during this time and canvass their projects and products.
- While most people of this part of the country do not talk about buying flats during this period, others are not that fastidious.
Indirapuram is one of the fastest developing metropolitan areas of Ghaziabad that is offering modern lifestyle residential projects at competitive rates and has good connectivity with adjoining places in the NCR.
In terms of quality infrastructure and availability of affordable- and luxurious-housing segments, Indirapuram has everything that makes for a good real estate destination. Good connectivity is one of the big boasts of the area with the Metro connectivity extended from Noida City Centre and Vaishali to CISF Camp; local authorities also proposed to widen NH-24 along with the underpass heading to Noida.
Vijay Kumar Jindal, CMD of SVP Group, says: “Improved connectivity always attracts buyers and end users; as for the working professionals who travel on a daily basis, fast connectivity is a prime criterion in selecting a location for their residence. For daily commuters, Indirapuram is the best location because just after NH-24, one can enter Noida and move on to Greater Noida easily. Also, a few minutes of drive will reach you to Delhi and Faridabad. Well established today, Indirapuram provides wide access points that have been increasing demand of residential and commercial units here. Currently, there is very little inventory in the 1-, 2-, and 3 BHK apartment format, as these are very popular among the modern nuclear families, and have all been snapped up. Shortage and demand ratio can be understood by the rise in rental values in the area, by nearly 30-40%, with the rates hovering between Rs 3,500 per sq feet and Rs 5,500 per sq ft.”
The place has a lot of malls and marketplaces: Shipra Sun City is a popular weekend hub for the residents in the area. Realty experts says that the different pockets of residential sectors like Ahinsa Khand, Nyay Khand, Vaibhav Khand, Niti Khand, etc, have bright prospects in the short term as well as the long term.
Indirapuram is also awash with clinics, malls, shopping markets, etc. However, the nearest multidisciplinary hospital is Fortis in Sector 62, Noida. “People can stay here and move out to newer locations when their property gives them good return,” Anoop Garg, director of Uninav Developers, said.
With rates going up commensurate with the rise in demand, the properties of Indirapuram have opened up a new investment option for residents as well as people from all over the NCR.
The realty market here is far from saturation and has strong potential for new projects. The demand for residential apartments is very high in the area and supply has been adequate, thus far. But the scene is changing and the supply is getting exhausted faster now, with a good chance of prices shooting up.
Many projects are in various stages of completion here, affording a good opportunity to people interested in investment or for end use. The GDA has announced a plan for a sewage-treatment plant and underground cabling, which will make Indirapuram cleaner.
Some of the luxurious projects here are SVP’s Gulmohur Residency, Antriksh Group’s Antriksh Greens, Assotech Realty’s Kabana, Amrapali’s Amrapali Village, Gaursons’ Gaur Green Vista, Shipra Group’ Shipra Sun City, Supertech’ Supertech Icon, ABA Corp’s Orange County, etc.
Indirapuram is one of the best places to invest in residential and commercial segments, as the place assures of good returns. Buyers have a lot of options here with several developers coming up with new projects all the time.
Indirapuram has more than 135 projects with 40, 000 flats, out of which 90 projects have been completed and around 45 more are under construction; the occupancy rate of completed projects is estimated at 60%.
Some of the prominent developers operating in the area are Antriksh, Gardenia, Vasundhara Group, Gaursons, Gulshan Homz, Shipra, Mahagun, Amrapali, Ashiana, Supertech, Parsvnath, Express Builders, Krishna Apra, Jaipurias, Assotech, Agarwal Associates, SVP Group, among others.
Manoj Gaur, MD of Gaursons India Ltd, says: “For people looking for a handsome appreciation in property prices, Indirapuram is the place to be. The place is fully inhabited and is a decent choice for people looking to live here. Being close to Noida, which is a major industrial hub, the housing segment here is attracting a wide band of professionals.”
Gaurav Gupta, director of SG Estates, says: “As the place is populated, well connected, and caters to the daily needs of the people living here, it has seen good appreciation in property prices. The appreciation here is better than Noida’s area like Sectors 62, 52 onwards, 60 onwards, and 100 onwards. Noida still bear a deserted look at night. This does not mean that Noida sectors are not livable but Indirapuram has the upper hand when it comes to the choice of buyers, who want to shift to their new homes immediately. The area is also witnessing an influx of people whose offices are in Noida. As prices in livable sectors of Noida are on the higher side, people are investing in Indirapuram.”
Demand for Retail and Commercial Space:
Indirapuram has always been in demand in terms of retail and commercial space due well-established residential apartments and superb connectivity with Delhi.
Indirapuram will turn into prime area for corporate office suites, recreational outlets, and shopping complexes in the near future with a number of high-end facilities in place, and under construction. The widely talked about Habitat Centre is coming up in the heart of Indirapuram.
Indirapuram is well connected through road and railways and, further, is well supported by other infrastructure facilities. A 100 sq ft area in Indirapuram can cost around Rs 18-25 lakh because of high demand. Coupled with residential and commercial complexes, Indirapuram offers all basic facilities like schools, banks, market areas, shopping zones, entertainment and leisure zones, green areas, etc. Developers are constructing housing societies, recreational space and using modern architects and designs to create world-class townships here. The trend of modern high-tech lifestyle has highly influenced this place and people now seek studio apartments, small flats, apartments, villas, and independent floors.
Today, various projects under construction are offering trendy and modern apartments, in the affordable range too. Designed by modern architects, developers are constructing stylish apartments with the aid of advanced and cost effective technology. Installed with multiple security layers, airy and quality construction, wooden and marble flooring, contemporary interior concepts and outdoor designing, modern fittings, and advanced colours to redefine one’s lifestyle, Indirapuram is showing the way to modern urbanization in the NCR.
Realty experts says that the different pockets of residential sectors like Ahinsa Khand, Nyay Khand, Vaibhav Khand, Niti Khand, etc, have bright prospects in the short term as well as the long term.
After Greater Noida West (Noida Extension), Raj Nagar Extension (RNE) on NH-58, under the jurisdiction of Ghaziabad, is developing as one of the most affordable destinations for middle-class homebuyers.
RNE is a one-stop destination for a wide band of middle-class end users who have several options of purchase from construction-linked plan to ready-to-move plan. Here 2-, 3-, and 4 BHK flats are available in the price range of Rs 2,500-3,500 sq ft depending on the size of the property and its location. Builders who have already given possession or are giving possession in their projects include LandCraft, Ashiyana, SG Immersion, Ajnara Grace, Classic, Gulmohar, Devika Skypers, etc. Nearly 1,500-2,000 families have already moved into the finished projects here.
RNE started off with 12 developers who came together and built the physical and social infrastructure and then went on to raise their projects here-today, the developing area has more than 30 developers.
Many areas in the Delhi NCR came up with affordable-segment housing, but very few have been able to match up with the timely-delivery parameter. In around five years, RNE has more or less delivered on all the parameters. “Here the projects came up with the tagline of affordable luxury and we made sure that all the facilities come up on time, so that people who moved in here did not have to look to nearby developed urban centres for basic facilities,” a developer here said.
Improving infrastructure: Keeping the demands and trends of contemporary living in mind, the consortium of builders has launched ultramodern projects in the luxury segment as well.
Along with basic infrastructure in place, the area is well connected to Delhi and nearby NCR areas. The proposed Delhi Metro service from Dilshad Garden to Rithala, as well as a new substation, has been approved by the GDA. One of the major attractions of the developing area is the adjoining green belt, which will remain undisturbed because the GDA has declared 500 acres along the Hindon as a green belt and has banned construction activity in the area.
The area has got a boost with many projects lined up for improving the connectivity of the place: there is a plan to have a Metro station at Arthala—around 2km from RNE; the proposed Rapid Rail Transit System (RRTS) between New Delhi and Meerut will have station at Mohan Nagar—a few kilometers away from RNE.
Under the RRTS project, stations are likely to be constructed at Anand Vihar, Vaishali, Mohan Nagar, Meerut Road (Airtel Cut), Duhai, Muradnagar, Gang Nahar, Modi Nagar, Mohiuddinpur, Meerut Bypass Cut, and Pallavpuram.
To execute the proposed traffic decongestion plan for NH-58 and other roads in Ghaziabad, the GDA has decided to collaborate with the Raj Nagar Extension Developers Association. The authorities propose to restructure the NH-58 stretch-from Meerut crossing (near the new bus stand) to ALT cut, and close down illegal cuts to allow free flow of traffic. Manoj Gaur, MD of Gaursons Ltd, says: “The developing residential area of RNE is near the bypass; one can travel to Delhi without crossing the crowded areas of Meerut or Ghaziabad. Another good thing about the area is that it is in the vicinity of posh localities of Ghaziabad.”
Ashok Gupta, MD of Ajnara Ltd, says: “The developing area is good for investment in areas where development has already taken place and people have moved in. We always knew that once the delivery of units happens on time, the area will see enhanced interest of end users and investors.”
Sunil Mittal, MD of Addela Group, says: “Raj Nagar has been developed with the objective of offering a flawless destination to people looking for a better living, and within their budget too. Located near the hub of commercial and industrial activity, the location boasts of reputed educational institutes, specialized hospitals, etc. Raj Nagar Extension stands apart as one of the best investment destinations in the NCR.”
Realty Projects: Addela Group is developing Rajnagar Residency, a group-housing project which offers 2-, 3-, and 4 BHK apartment of 1,055-2,180 sqft. Showcasing regular design and symmetry, buyers here get to enjoy the best of nature with nearly 75% area devoted to greens and landscaping, according to the developer.
K World Group has a group-housing project, KW Srishti, on 10.5 acres. The project comprises 1,300 flats in 1-, 2-, and 3 BHK options. The company plans to give possessions in the first phase in one year, while the whole project is expected to be delivered by end of 2015. The flats are available at the basic selling price of Rs 2,400 per sq feet.
Pankaj Kumar Jain, director of K World, says: “The best part of buying a flat or property in Raj Nagar Extension is the availability of free-hold land at low cost. This area offers cheapest land in the vicinity of Delhi and if all things go according to plan, in a couple of year’s time, this area will offer smooth connectivity to Delhi as well.”
KDP Infrastructure is building KDP Grand Savanna, a group-housing project on 12.69 acres; the project offers 1,158 flats in 15 towers in the 1-, 2-, and 3-BHK options, at the basic selling rate of Rs 2,650 per sq feet. The company plans to give possession of the complete project by March, 2014.
Tanuj Goel, executive, director of KDP Infrastructure, says: “RNE is the focus of housing development in Ghaziabad today. The location offers the most luxurious, and yet economy-based units, with features like proximity to Delhi, Metro line, multi-road, surrounded by lush green areas. This place is emerging as a location most conducive to a peaceful and natural living.”
Techman Buildwell has a group-housing project, Moti Residency, in Motra village in RNE. Motra is one of the five villages, which have been earmarked by the GDA for RNE area. Moti Residency is being built over 20,000 sq metres and offers 1-, 2-, and 3 BHK units at the basic rate of Rs 2,700 psf. The company has plans to deliver the entire project by the end of 2015. Vishwa Nath Agrawal, CMD of Techman Buildwell, says: “RNE continues to be the most affordable area for property; it has the added benefits of being in close proximity to Delhi and offering low-cost land and with freehold title. Despite the various bottlenecks and delays in implementing infrastructure projects, the development authorities are supportive and are keen to speed up the work here.”
Along with basic infrastructure in place, the area is well connected to Delhi and nearby NCR areas. The proposed Delhi metro service from Dilshad Garden to Rithala, as well as a new substation, has been approved by the GDA.
High-tech, integrated townships are best for community living as the concept of walk-towork can be implemented in these projects; also, they come with all social infrastructure in close proximity to the residential units making these ideal, self-sustainable establishments.
High-tech, integrated residential township projects in metros and Tier I and II cities like the Delhi NCR, Mumbai, Pune, Bangalore, Ahmedabad, Lucknow, Kolkata, Indore, Hyderabad, etc, are promising good returns for prospective buyers and developers.
In accordance with the rules laid down by the development authorities, these self-contained realty projects are being planned and developed by licensed developers; these projects encompass work places and residences, with all the attendant facilities and amenities.
Now, what are the benefits of integrated townships to local authorities and governments? Simple! They support the government and local administration in providing housing and social infrastructure to citizens.
Integrated Township Projects and Community Living:
Mudassir Zaidi, regional director (north) of Knight Frank India, says: “It is a community living platform where the concept of walk to-work can be implemented along with all the services that a family needs in proximity to their homes like shopping malls, entertainment options, hotels, hospitals and schools, thereby emphasizing its stand as a self sustainable establishment.
“The difference between an integrated township and a residential township lies in the fact that while an integrated township includes hospitals, schools, offices and large-scale commercial establishments, a residential township primarily comprises residential development with minimal shopping spaces or other social infrastructure.”
Norms for high-tech, Integrated Townships:
According to development authorities, the size of an integrated township can vary from as small as 40 acres to as large as 3,000 acres or more.
This is dependent on the local planning authority’s rules and regulations in a particular region regarding the minimum area to be developed as well the developer’s ability to buy land at an affordable rate.
For instance, in Gurgaon, Maharashtra, and Bangalore the minimum area for an integrated township project is 100 acres. Besides, there are other norms like minimum road width, percentage of land usage, open space and civic amenities, etc, specified by the authorities.
Depending on size, a township project is expected to provide certain social infrastructure and ancillary facilities as well. As a rule, all integrated townships must provide for schools and basic medical care facilities, while those above 1,000 acres in size must have a college as well.
Integrated Township Projects:
Realty players like DLF, Jaypee Greens, Ansal API, Vatika, Raheja Developers, Sobha Developers, Wave Infratech, Supertech Ltd, Orris Infrastructures, etc, have already launched their own high-tech, integrated projects in the NCR’s regions like Gurgaon, Greater Noida, Yamuna Expressway, and NH-24 (Ghaziabad).
Apart from the Delhi NCR, some renowned developers like Lodha, Adani Realty, Godrej Properties, Alfa G:Corp, Tata Housing, L&T Urban Infrastructures Ltd, AIPL, Ambuja Realty, Kumar Urban Development Ltd,Oxford Group, Hiro Group, Divya Shakti Group, etc, are developing mega townships in Mumbai, Pune, Ahmedabad, Bangalore, Chennai, and Hyderabad.
Jaypee Group has a major land bank on India’s first six-lane, expandable to eight-lane, access-controlled expressway connecting Noida-Greater Noida to Agra. Overall, the group also has five land parcels, 500 hectares each, on Noida-Greater Noida Expressway near Sector 151 (Jaypee Greens Wish Town) Jaganpur, Mirzapur, Tappal, and Agra.
Jaypee is coming up with integrated townships, with an overall development of 530 million sq ft of which 311 million sq ft is in the NCR (Noida-Greater Noida) and 100 million sq ft in Agra. JP’s Wish Town (in total 1162 acres) consists of JP Classic in sector 134, JP’s Kensington in Sector 133, JP’s Kalypso and Pavilion Court, Pavallion Height in Sector 128 are showing good appreciation.
Two high-tech cities project (Wave City on 4,500 acres by Wave Infratech and Sushant Megapolis by Ansal API on 2,500 acres ) are set to cater to the housing needs of thousands in the vicinity of NH-24 (Ghaziabad) and Greater Noida. With world-class facilities like schools, playgrounds, golf courses, hospitals, internal roads, shopping centres and malls, etc, under one roof, these hightech cities are set to deliver more than 15,000 villas and apartments in the first phase.
Wave City is being developed on NH-24 (Hapur Road), opposite Columbia Asia Hospital. Wave City is a self-sustainable integrated township of Wave Infratech (a part of Wave Group). Wave City will be among the largest integrated city developments happening in the Delhi NCR, offering all the modern infrastructure and lifestyle facilities.
Sushant Megapolis is well connected with Delhi and other vital commercial centres through expressways and highways. Ansal API is also developing a mega high-tech city project, Ansal Sushat City, in Lucknow. Strategically located on the Lucknow-Sultanpur National Highway on Amar Shaheed Path, Ring Road, this high-tech residential township is spread over 3,500 acres. A world class international championship golf course surrounds the residential and the commercial areas.
Adani Group is developing Shantigram, an integrated township project in Ahmedabad.This is one of the largest integrated townships in Gujarat, over 600 acres, flanked between Narmada Canal to the North and SG Road to the south. Located on SG Road in the affluent western part of Ahmedabad, Shantigram offers easy accessibility through high-speed corridors (SG Road and SP Ring Road) to the airport, city centre, major hospitals, educational centres, railway station, recreational zones, and Gandhinagar. The township was launched in November, 2010, with two residential clusters, Water Lily, catering to the high-end segment, and The Meadows, catering to the mid-end segment. Nearly 2,000 apartments have already been sold.
Tarwinder Singh, CEO opf Adani Realty Business, says: “Shantigram has been planned keeping more than 80% of the area open, ensuring a congestionfree living; over 50,000 trees are being planted to offer a green cover to the entire township. Add to this the 40 acres of green landscapes along a 2km stretch of Narmada canal. Living in this township is like striking a perfect balance between nature and urbanization.”
The golf course in Shantigram, which is the only one within city limits, not only offers the opportunity to play golf but also acts as a lush green 70-acre land parcel with water bodies right in the heart of the residential community. Nearly 5,000 apartments are planned with a view of the golf course.
With Gomti Nagar on one side, and the city’s airport on the other, the location of Sushant Golf City is idyllic.
The development is one of the largest townships; this mega realty project is divided into manageable and compact sectors with regulated single entry and exit points.
After the successful launch of DLF My Pad, a studio apartment project on five acres along Shaheed Path, Lucknow, DLF is developing another integrated city, Gardencity, on NH-24B, Lucknow. Spread over 250 acres of lush greens and wide open vistas, Gardencity is a harmonious blend of residential, retail, and hospitality projects. The initial offering at Gardencity are its spacious residential plots.
The township will also provide easy access to essential medical services within the vicinity. The township will also have educational facilities, right from nursery form to high school. Lauched at Rs 5,750 per sq ft, the property is now quoting over Rs 6,000 per sq ft.
Today, the real estate industry has become one of the major investment sectors in north India, as well as south India. Building and strengthening its real estate development, south India has emerged as one of the most sought-after destinations in the country. South Indian real estate markets that include Bangalore, Chennai, Hyderabad, and Kochi have seen rapid growth over the last few years, driven primarily by a highly mobile IT workforce that acts as a highly potential residential property buyers.
Norms for Foreign Direct Investment:
In case of Foreign Direct Investment (FDI) in an integrated township, the minimum area to be developed by the foreign investor should be 100 acres, for which norms and standards are to be followed as per the local bylaws and rules.
In the absence of such bylaws and rules, a minimum of 2,000 dwelling units for approximately 10,000 residents will need to be developed by the investor.
Also, according to the government guidelines, at least 50% of the integrated project should be completed within five years from the date of obtaining all clearances.
- The difference between an Integrated Township and a Residential Township lies in the fact that while an Integrated Township includes Hospitals, Schools, Offices, etc. A Residential Township primarily comprises Residential Development with Minimal Shopping Spaces or other social infrastructure.
- These self-contained realty projects are being planned and developed by Licensed Developers; These projects encompass Work Places and Residences, with the entire attendant Facilities.
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