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Buying affordable housing around Delhi possible soon: 100 acre land to unlock

A land parcel as large as 100 acre about 10-11 km from the Connaught Place, New Delhi, is expected to be unlocked for affordable housing soon! The Ghaziabad Development Authority (GDA) is planning to come up with 14-15 group housing projects on this land near the Wazirabad Entry Gate in Delhi. The project planning is currently at a nascent stage.

Buying affordable housing around Delhi possible soon: 100 acre land to unlock

So are there any affordable housing schemes the authority is offering at present? According to Santosh Kumar Yadav, vice chairman, GDA, “we have some plots left in Madhuban Bapudham Scheme.” This group housing project falls near Govindpuram. This is the only project which has plotted development on the offer at present, by the GDA.

What are the sizes and what are the prices of these plots? The plots are generally available in the 400 sq ft size. They are priced at Rs 13,600 per sq mtr. “The project is good to invest. In five years, the prices of the plots have just got doubled,” says Yadav. He was answering queries on Open House, an online platform where users can ask questions on a specified subject.

Are there any flats available for the Low Income Group (LIG) and Economically Weaker Section (EWS)? The authority is planning for affordable housing projects at various locations within Indirapuram and Kaushambi. The sizes of these flats start from 35 sq mtr with prices starting from Rs 5.10 lakh.
Almost all the projects will have units for people from the EWS category as well. The size of these units will be around 25 sq m and the prices of these units will be about Rs 2.40 lakh.

What are the eligibility criteria? For applying for a flat under the LIG category, your monthly income should not exceed Rs 12,000. For the EWS category, this limit is kept at Rs 6,000 per month.

But what about livability? In view of creating sufficient supporting infrastructure, the GDA is also planning several projects concerned with roads, water supply, electricity and drainage. Recently, the authority announced setting-up of a power sub-station at Madhuban Bapudham Scheme.

 Source:magicbricks.com

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

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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 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:  magicbricks.com

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

DDA’s land-pooling policy: Will it dampen property prices in NCR

Delhi/NCR

Can runaway property prices in Gurgaon and Noida be reined in? That could happen with about 40,000 acres of land expected to come into the market because of Delhi’s new land-pooling policy. This could mean some 1.5 million apartments will be launched over the next three-four years in the city, possibly having an impact on the appreciation in the value of property in the wider National Capital Region, which includes Gurgaon and Noida.

The policy announced by the Delhi Development Authority recently is aimed at freeing up land and ensuring infrastructure is in place before construction of homes begins in newer areas of the city that are residential zones under the city’s master plan.

Landowners can pool their land for development by the city’s land-owning agency. But instead of being compensated when the government takes over the land, the owners will get 48-60% of it back after the authority has set up the infrastructure.

The owners will be allowed to build on this land themselves or give it to real estate developers in Delhi Ncr. The Master Plan of Delhi 2021 envisages development of several hundred acres of land for accommodating an additional population of 48 lakh by 2021, up from the current 1.6 crore. “More homes and planned development would mean prices will come down,” said a senior DDA official who did not wish to be named.

Importantly for the authority, this will be an alternative to the compulsory land acquisition and disposal process, he said. The new land acquisition bill that has been recently passed by the Parliament will make it difficult to acquire land, he added.

The new policy will arrest the sharp rise in property prices in NCR areas such as Gurgaon, Noida and Ghaziabad, said Gaurav Jain, a town planner and managing director of land consultancy Samyak Properties & Infrastructure. Prices of residential property on the Dwarka Expressway in Gurgaon, for instance, have seen a 150% increase in prices in the last five years, according to property consultancy DTZ.

Source: The Economic Times, Delhi/NCR

Source:  magicbricks.com

For more Information Sanjay Rastogi,     Email Us      2 BHK and 3 BHK Flats in Noida       Residential Properties in Greater Noida  Or SMS :SAVIOUR at 53030

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

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

Gurgaon makes CCTVs mandatory for housing societies

Delhi/NCR

The Gurgaon administration on 7th November made it mandatory for housing societies in the district to install CCTV cameras.

The order issued by district commissioner Shekhar Vidyarthi also covers pubs and bars. It says cameras must be installed at the entry and exit gates, be of good quality and store footage for at least 30 days. “These orders have been issued in view of some incidents of crime which occurred in the recent past in the district,” the notification said. The order, officials said, comes into force with immediate effect and violators will be punished under Section 188 of the Indian Penal Code.

Barring high-end condominiums, a large number of group housing societies do not have CCTV coverage. There are over 100 group-housing societies in different Haryana Urban Development Authority (HUDA) sectors.

The order was hailed by residents. A Residents’ Welfare Association functionary of Karamyogi society, Vishal Bharat, said, “The RWA is aware of the order and will be installing CCTVs at the entry and exit gates of society premises. The money will have to be pooled because the management committee has recently been formed after elections.” Installation of CCTV cameras will cost each society around Rs 30,000.

“At least four CCTV have to be installed,” said Bharat. The CCTV cover, he said, will definitely bolster the condominiums’ safety.

The police have been complaining about the absence of CCTVs in colonies. The latest order will be of great help in investigations of thefts and burglaries. “CCTVs should not just be installed at entry or exit gates but also inside the colony, covering corridors and other places,” Amit Arora, a Sector 4 resident.

“The presence of CCTVs will help in monitoring all the movement of visitors in and out of the colony. At present, security guards have to maintain a register on visitors,” said Chetan Aggarwal, a resident of Park View (II).

Source: The Times of India, Delhi/NCR

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

DDA to hold auction of commercial properties

Delhi/NCR

Thousands of prime commercial properties are up for sale in Delhi. After a gap of about one year, Delhi Development Authority is about to start selling  properties in the capital. Over 50 commercial plots, six multilevel car parkings and two banquet halls have been opened up for auctions.

As an extra sop, the authority will sell all the properties on freehold basis. The huge supply of commercial space in Delhi’s real estate market is expected to bring overall prices of property down in the coming weeks.

Some of the big offerings, for which DDA will start receiving tenders on October 8, will be a 20,040 sq mt community center area in Rohini Phase-III with a base price of Rs 333 crore. Two other similar spaces in east Delhi’s Mayur Vihar Phase-I, having an area of 8773 sq mt and 9451 sq mt, and base prices of 263 and 267 crore respectively. A district centre property in Dwarka sector-11, with an area of 18,260 sq mt, is also going under the hammer with a base price of Rs 393 crore.

Tenders for 54 commercial plots in all, one shopping complex-cum-nursing home, one two-storyed parking plots, six multi-level parkings and two banquet halls will also go under hammer from October 8.

DDA, which used to auction commercial properties every two to three months, has not held a single auction in the past one year. Sources say the reason for this is the frequent changing of top level officers, including those at the vice-chairperson level, and the appointment of a new Lieutenant Governor of Delhi as well.

More commercial properties are expected to be auctioned by DDA, in batches, in coming months. Such a move is expected to bring down property rates in the city further.

Source: The Times of India, Delhi/NCR

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

Commercial property yields high returns

Delhi/NCR

Indian developers  are using the latest technological advancements to ensure that their projects are green and secure, with ambience and facilities that match international standards. Nowadays, developers are providing world-class features in the new commercial office space that is coming across the country, like automatic valet parking, water harvesting, zero disposal with sewage treatment plants, access control, intelligent building management systems, under-body car scanners, and intelligent elevator technologies.

Good tenants: The occupiers of these buildings are a veritable who’s who. Typically, banks are considered to be the best tenants but large conglomerates are coveted clients too. Why? First, they pay the rent on time as they are cash-rich and second, these companies bring with them superior standards of corporate governance and compliance, thus, ensuring process driven smooth payment flows.

Good location: The locations of these buildings are in prime business districts of major metros. Many locations attract investment from the government. With the government working to provide superior infrastructure in these locations, a virtuous growth cycle has been initiated. This is because the government itself can occupy large buildings with multiple departments and ministries. Additionally, a large number of government-owned companies and public sector undertakings may be directed by the government to occupy in these locations.

Stable, predictable income: Another good aspect of a commercial property lease is the long tenure, typically three years, and in multiples of three years, with monthly or quarterly payments and deposits ranging from 6-12 months. The tenant invests alongside the investor in the property and, at times, spends good money in the upkeep of the building amenities and landscaping to meet global standards. The tenant invests in the property by doing the fit-outs, which could cost anywhere between Rs 1,500-4,000 per sq ft based on corporate guidelines. This makes the tenant ‘sticky’, as he has a financial disincentive to terminate the agreement, apart from the lease contract termination clauses.
High yield: According to a recent study, India has the highest yield (rent, capital value) second only to Manila, which are almost 50% higher yield than Europe or the US. This can be better appreciated as the quality of the tenants and quality of buildings (energy-efficient, glass, and aluminium) is the same. Contrast this
to residential yields which are around a quarter of that of commercial yields in India. The case for commercial property becomes stronger as you can earn up to four times more with the same initial investment. Another benefit of locking in high yield is that as interest rates fall, investors can earn a ‘spread’ between the yield and the interest rate charged to the investors, should they take a loan to finance the acquisition.

Tax-efficient structures: There are multiple tax-efficient structures available to hold commercial property investments, ranging from trusts to private limited companies.

These structures can impact taxation levels, quantum, incidence, and estate planning; investors should take help from experts to arrive at the optimum structure for their objectives.

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

For more Information Sanjay Rastogi,    Email Us    Residential Properties in Ghaziabad   Or SMS :SAVIOUR at 53030

REITs: a safe mechanism to invest in commercial real estate sector

Real Estate Investment Trusts (REITs) are set up as a trust, which offer their units to investors, and utilise those funds to purchase leased out commercial real estate. Thus, providing an exit route to developers from leased out properties.

For an individual investor, investment in commercial real estate through REITs is much safer as compared to a direct investment with a developer. Returns to unit holders are serviced through the lease income or from sale of property.

Some major benefits of REITs over direct investment are listed below:

Easy entry and exit

The units issued by REITs are listed on an exchange like the shares of a company. This allows an investor to quickly purchase or sell the units of a REIT. This further enables an investor to take short-term bet on commercial property market and to an extent transform investment in commercial properties as liquid.

Lower ticket size of investment

REITs, just like mutual funds, collect funds from its investors and issue units to its investors. The funds collected are invested in large commercial properties which are generally out of the reach for an individual investor. Thus, REITs allow even a small investor to purchase a commercial asset. This is particularly beneficial for an individual investor who prefers to have exposure of real estate sector in their investment portfolio.

Higher transparency

REITs would have to operate under strict regulations and guidelines framed by the Securities and Exchange Board of India (SEBI), ensuring increased transparency for an investor. A REIT would have to disclose and adhere to the detailed terms and conditions regarding its investment in commercial property helping an investor make an informed decision, which is often lacking in direct investment with a developer.

Investment security

It is mandatory for REITs to invest 90 percent of their corpus in completed and leased out properties. Completed and leased out properties are much safer compared to under-construction properties, since visibility of cash-flows is higher in the former.

Regular income and appreciation

A REIT is required to distribute at least 90 percent of its net distributable income to avoid tax on its income. Thus, investors can expect a regular income on their investment in REIT. They may choose to re-invest this income, should they not require it.

In addition to regular income, an investor may also benefit from fluctuation in the value of the underlying commercial property. Any appreciation (or devaluation) in the value of underlying property owned by a REIT is likely to reflect in the net asset value (NAV) of the unit listed on exchange.

An investor should note that investment in REITs is only in completed commercial properties. Thus, for investment in residential properties or under-construction properties, an investor would have to take a direct exposure by investing through a developer. However, the transparency and safety in residential under-construction properties is also expected to improve after the draft Real Estate Regulation Bill is cleared by the Parliament.

Globally, REITs is a preferred tool for investors looking to invest in commercial property. With REITs expected to soon become a reality in India, the transparency and liquidity in domestic real estate sector are expected to improve significantly, further strengthening the global appeal of Indian real estate market.

Neeraj Bansal, Partner and Head-Indian Real Estate sector, KPMG in India

Source:  magicbricks.com

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

Rs 60-90 lakh property clocking maximum sales in Noida: Magicbricks Brokers Connect

Delhi NCR

Remain active in the Noida residential real estate market and seek the best deals. Markets are slow but likely to become buoyant in another six to eight months. It is possible to negotiate the best deals so make the most of the slowdown in the real estate markets. These were some of the responses of experts at the Brokers Connect organised by Magicbricks.com. The meet was organised at the Times Centre, Noida. The panel included Vikas Mallan, MD, FMG Real Estate; Vikas Sahni, CMD, Property Guru; Sanjay Sangwan, director, Kartik Real Estate; Deepak Batra, CEO, Propworld and AK Jain, director, Affinity Solutions. Speaking on the topic – ‘What is a good time to buy?, Batra said, “The Noida property market is good at any time for the investor and the end-user. As there is connectivity and property available at reasonable prices, there is demand for sale and lease.” Locations such as Sectors 75-78, Sectors 137, 143 and 168 around Noida and Noida Expressway are offering a wide range of properties for investors as well as end users, said experts. Sangwan said, “After the elections, prices may go up in the medium to long term. Also, once the proposed Metro Rail is functional, the prices are likely to increase by Rs 1,000 per sq ft per unit,” he informed. So, what sells best in Noida? Currently, the Rs 60-90 lakh budget segment is clocking the maximum sales. These are mostly 2 and 3BHK apartments,” said Mallan. “There is a high demand for properties within the Rs 15-25 lakh budget category. However, developers are not offering anything within this range. Developers avoid constructing 1BHK units because of density norms,” Sahni added. While sharing insights on the luxury market in Noida, experts feel that there are very few takers for high-end luxury apartments in the city. “Only 10-20 per cent of the total demand contributes to the luxury market in Noida,” said Sangwan. Experts say that commercial real estate market in Noida has not taken off well and is impacting the occupancy rate in Noida. They say commercial space is sold on super area, whereas industrial space is sold at carpet area. “Commercial space comes 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,” said Sangwan. “Plus, with low Floor Area Ratio in Noida, developers are not able to build huge commercial spaces demanded by IT companies,” he added. “Also, out of one lakh units, 56,000 units are expected to be delivered in 2014, making a positive impact on the demand in the city,” he added. So, will there be correction in prices in Noida? Experts say that with the construction costs going up, property prices are not likely to drop in the city. However, in the current scenario buyers can negotiate up to 5-10 per cent and can expect freebies and offers.

Source: Magicbricks.com Bureau

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

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