The Ramprastha Group has come up with a residential project, The Edge Towers, in Sector 37 D, Gurgaon, on the Dwarka Express way, which is a part of the 450-acre Ramprastha City, an integrated township. The residential complex has 15 towers, each 21 floors, comprising 1,250 flats, which will be raised in the first phase. These are four types of flats – 2BHK (1,240 sq. ft.), 3BHK (1,675 sq ft), 3BHK Large ( 1,990 sq ft),and 4BHK (2,400 sq ft). The basic selling price is Rs 2,600 (+external development charges[IDC] + preferential location charges[PLC]). There are two payment plans: one is the down payment plan, which comes with a discount, and the other in which the customer pays 15% of the base selling price at the time of booking and the rest on possession. The later is interest- and EMI-free during the construction period. All leading banks are offering home loans for purchase of a flat in the project. Talking about the project, Ch Balwant Singh, founder and chairman of Ramprastha Group, says that the USPs of the project are its connectivity, infrastructure, and location. “The ‘signature style’ of any Ramprastha project is its location. All our projects are located on highways, to facilitate for easy and rapped access. The Edge Towers is on the Dwarka Expressway and only a 15 minute drive from the IGI airport. A Metro station is adjacent to the town-ships, as is the Reliance SEZ. As it is part of our bigger integrated township project, the Ramprastha City, it will have the advantage of ready-to-use urban infrastructure and amenities like schools, hospital, a hotel, a shopping mall, a multiplex, a club(with restaurant, gymnasium, swimming pool, sauna and spa, basketball, squash, tennis, and badminton courts, etc), and a temple.” Ch Balwant Singh also says that Edge Towers has top –notch fixtures and fittings for each flat like laminated wooden flooring in the master bedroom and vitrified tiles in the kitchen and bathrooms. The walls would have acrylic emulsion, while the kitchen and toilet walls have a combination of ceramic tiles. The prospectus says there would be modular state-of-the-art-kitchens with marble and granite counters. Interiors would be spacious with elegant decors and customers are promised a luxurious living. “You may call them luxury apartments,” Singh adds. Among a host of other amenities and fixture, the catalogue lists single-lever CP fittings, chinaware, stainless steel sinks with drain board; wooden cupboards in master bedroom; the doors have veneered and polished hardwood frames and skin molded shutters while external glazing is of powdered-coated aluminum. All the electrical fittings have modular-type switches and sockets, with copper wiring and 24x7 power backup. Water is also available round the clock. Perhaps, one of the most important features is the security apparatus with proximity card access system and CCTVs at vantage positions, along with boom barriers at entry and exit points of the complex and basement parking. Launched over a year ago, the project will be handed over to customers in August, 2012. Construction of the project is underway in full swing, with second floor already raised. The other projects in Ramprastha City are The Attrium and the View, each having 300 flats in the affordable category, with all of them sold out. Possession for these two projects is expected by 2011-end. Work on these projects is also underway. Ramprastha City also has a 100-acre SEZ and a commercial area of 50 acre. Expanding on the core concern of the group. Balwant Singh says: “Over the past 50 years, we have delivered over two crore sq ft of built-up real estate and another 40 lakh sq ft real estate is under construction. Our focus is on quality infrastructure and greenery. We do not want our customers to occupy our flats and spend precious time and waste money in refitting their homes with fixtures. We give them the best in the market. Also, we are environmentally conscious and create greenery in each and every project that we raise. Also since the NCR region lies on a highly volatile seismic zone, all our constructions are built to be earthquake resistant.” The other projects of this group in Gurgaon include three more townships and a host of group housing projects, all under construction. Some significant projects under construction in Vaishali(Ghaziabad) are the Ramprastha Greens (11 acre), Pearl Court and Emareld Heights. Rounding off the vision of the group, Balwant Singh concludes: “Real Estate has become an industry – but at Ramprastha, we view it as a social service and keep the comfort and aspirations of our customers uppermost in our minds while designing a project. We do not sell properties, but a lifestyle, with all amenities packaged in the same complex. We also keep the middle class in focus, as most of our projects have something for them. In fact, The View and The Atrium are especially designed for them.” The Edge Towers is on the Dwarka Expressway and only a 15 minute drive from the IGI airport. A metro station is adjacent to the townships, as is the Reliance SEZ. As it is part of our bigger integrated township project, the Ramprastha City, it will have the advantage of ready-to-use urban infrastructure and amenities like schools, a hospital, a hotel, a shopping mall, a multiplex, a club (with a restaurant, a gymnasium, a swimming pool, sauna and spa, basketball, squash, tennis, a badminton courts, etc), and a temple For more information about real estate, real estate india, Indian real estate, property, property in india, Indian property, property for rent, rented property, apartment for rent, rented apartment, flats for rent, rented flats in delhi, property for sale in delhi, apartments for sale in delhi, flats for sale in delhi homes for sale in noida, flats for sale in noida, real estate in noida, investment option in noida, real estate consultant in noida, realty firm houses in noida, residence in noida, residence in delhi, residence in gurgaon, flats for rent in gurgaon Log in to http://www.zameen-zaidad.com/ And http://www.propertycafeteria.com
Instead you may end up attracting higher processing charges, lower quantum of loan, higher EMI etc that could come along with the product as you have made a decision based solely on the interest rate offered. Our home loan product is offered at attractive and practical interest rates which are not intended interest rates which are not intended to just lure you and which don’t burden you with higher EMIs as well. Maximum repayment option: Given the high proportion of young population in India we recognize the need to have a loan tenure to suit this section of India. We allow you to repay your home loan over a period of up to 25 years. This is the maximum in the industry. Due to this you can avail a higher loan or reduce the EMI burden of your loan, both ways the benefit is for you to enjoy. Loan sanction in 5 days: we have employed the best IT systems to enable quick processing of loan application leading to a small turn-around time of 5 days. By completing all formalities quickly we do not keep you waiting to go ahead and own you dream home. 24 hour customer support: We wish to be available for your help when you need us. Hence we provide you assistance on your banking queries through the bank’s own customer service center, 24*7, and that’s not all, you get an option to choose from over 9 different languages. Feel at home with us. Simple procedures: Like we said at the beginning with us a home loan is more about the home and less about the loan. With the simplified procedures we leave you without any hassels, free to cherish your dream home. We welcome you to the Union Loan Points In our effort to provide you with the best service we have started specialized loan processing centres, Union Loan Points. These are focused lending centres dealing solely in retail loan products. The specially trained officers at these centres provide you with guidance at each step of the process making the entire experience totally hassle free. Being dedicated loan processing centres, they are able to ensure that the promised turn-around time is adhered to. Our largest centralized loan processing IT systems also help in faster processing and at the same time enable the customer to track the status of the application right from the first step to the last. For more information about real estate, real estate india, Indian real estate, property, property in india, Indian property, property for rent, rented property, apartment for rent, rented apartment, flats for rent, rented flats in delhi, property for sale in delhi, apartments for sale in delhi, flats for sale in delhi homes for sale in noida, flats for sale in noida, real estate in noida, investment option in noida, real estate consultant in noida, realty firm houses in noida, residence in noida, residence in delhi, residence in gurgaon, flats for rent in gurgaon Log in to http://www.zameen-zaidad.com/ And http://www.propertycafeteria.com
We value your relationship with us and thus you can always look forward to some benefit in the future when you wish to address a new banking requirement you might have continued on next page It is estimated that in India there is a shortage of over 20 million dwelling units. This indicates a high potential for growth in the real estate sector. During the second half of 2009 the liquidity pressure on developers has eased. Also during the same time reduced interest rates and recovery of the employment conditions has resulted in an increased demand. Thus we see an increase in the number of projects launched which hitherto were very few in number. 2010 is expected to be a positive year for the real estate sector. The revival is expected to be driven by infrastructure growth, which can accelerate real estate activities both in the residential as well as commercial spaces. This makes it the right time to go in for that long cherished dream of buying your own house. Union Bank of India, a leading player in the retail banking segment, recognizes this fact and brings to you an exciting home loan product which makes your dream of owning a house, a reality. A look at our product will tell you about the various benefits associated with it and you will realize, how with us, a home loan is more about the home and less about the loan. Each of our 10 USPs will give you an insight into the parameters that form the basis of deciding on a home loan. The loan that scores 10 on 10: Higher Loan Eligibility : The amount of loan that an institution grants a borrower depends on his ability to service the said obligation. The present income is, in almost all cases, the benchmark for deciding on the repayment capacity. We would not let your dream of owning a house remain unfulfilled for lack of funds. By not applying a one size fits all approach, our appraisal method ensures that you are given the maximum amount of loan based on your present/immediate future repaying capacity. At the same time we make sure that you are not unnecessarily burdened with a high EMI by lending you more than the critical amount of loan. For a given income profile our product offers one of the highest quantum of loan in market. Flexible EMI : Not many are aware that there are more than one ways of servicing your loan. The most widely used method is that of repaying by way of EMIs calculated for the given loan amount and tenure. Apart from this there are methods which are many a times more suited to the borrowers existing financial condition. Our product supports repayment methods like step-up repayment, FLIP & balloon repayment. Step-up: This method allows the borrower to have a lower EMI for a certain duration initially and later on improved repayment ability e.g. salary increment can pay a higher EMI. FLIP: This is an option which enables the borrower to adjust his EMI during situations like early retirement, to pay a lower EMI in proportion to the decreased income. Balloon method: This method is helpful for individuals whose loan obligation is set to end at retirement. One can use the terminal benefits to repay the outstanding loan. Due to this one may service lower EMIs during the preretirement period. No prepayment penalty : No individual would want to hold on to idle cash or excess deposits in the savings account while having a loan obligation running. In the event getting a repayable surplus one might want to adjust the loan by that amount. We do not charge any prepayment penalty provided these funds are from the own verifiable sources of income of the borrower i.e. from sale of own property, bonus etc. Top-up facility : Few years after moving into your new house you might want to undertake work like renovation, painting etc for your house or buy new furniture. We provide you a facility to avail additional loan for the same. This facility is for our existing home loan customers who have completed 24 months of repayment. The facility is of a great help as expenses for the said activities are almost always on the steeper side. With us you get the loan at low interest rates and at the same convenience. Loyalty rewards : We value your relationship with us and thus you can always look forward to some benefit in the future when you wish to address a new banking requirement you might have. From time to time bring to you special offers on other retail products like car loans, education loan etc. Attractive Interest Rates : This is almost always the only factor on which people decide where to avail a loan from. Many a times this very viewpoint is exploited by lending institutions. We see offers where rates for the first year are very low and gradually increase in the subsequent years. Majority of the borrowers avail loans for properties which are under construction and hence end up availing a far lesser amount in the first or second year. Thus there is hardly any benefit enjoyed by way of lower rates. Courtesy:- Business Standards dt:- 27-April-2010 For more information about real estate, real estate india, Indian real estate, property, property in india, Indian property, property for rent, rented property, apartment for rent, rented apartment, flats for rent, rented flats in delhi, property for sale in delhi, apartments for sale in delhi, flats for sale in delhi homes for sale in noida, flats for sale in noida, real estate in noida, investment option in noida, real estate consultant in noida, realty firm houses in noida, residence in noida, residence in delhi, residence in gurgaon, flats for rent in gurgaon Log in to http://www.zameen-zaidad.com/ And http://www.propertycafeteria.com
Sense finally prevails in this exciting arena, says Santhosh Kumar From complete bscurity to one of he most highly hyped North Indian growth corridors, to overheating and getting back to the top slot in India's most lucrative residential real estate investment hotspots when it comes to market status updates, Gurgaon has certainly been around. As is invariably the case in new areas, residential property demand for Gurgaon began on a strong and promising note. However, between 2007-08, it fell prey to speculators who purchased properties with the sole intention of making quick profits. This led to overheating of prices in Gurgaon, and the market began correcting sharply after a series of severe fluctuations in the stock market took place. Investors in Gurgaon's residential real estate market found themselves facing an unexpected lack of ready cash and began to sell their holdings. Prices corrected by 15-20 per cent in most projects. That said, the inherent strength of Gurgaon's property market revealed itself during the recent economic downturn and concurrent real estate market slowdown.
While the demand dynamics there did waver, the fact remains that Gurgaon is still the most preferred North Indian location for corporates. The resultant demand for quality residential spaces had dropped primarily because of a lack of supply of appropriately priced midincome housing, since most projects during the boom period focused squarely on the high-income segment.
The dawn of reason during the downturn, there was a marked slowdown in sales for higher-priced units at Gurgaon, but the severity of the drop was at par with the rest of the country.
This was a key phase, during which developers had to take decisions that would have immediate as well as long term effects on the viability of their business.
Fortunately, they aligned their business models to the new demand dynamics and finally started catering to the middle-income segment by launching affordable and mid-sized apartments. With the return of economic stability and a renewed focus on this vital market from domestic and international players, there has been a visible scaling up of development in terms of commercial office and retail space (from the current 22 million sq ft of office space to a projected 40 million sq ft by 2012). As a result, Gurgaon is once again witnessing a massive infusion of demand for quality residential properties. In the main residential areas and projects of Gurgaon, such as DLF Phase IV, Golf Course Road, M.G.
Road, National Highway 8, Nirvana Country, Sushant Lok, Sohna Road, etc. property rates have again started picking up. Residential as well as commercial properties of different varieties are available in these locations, and demand for them is picking up fast. As of now, prices are rising again for projects offering immediate or early possession. In fact, with the pick-up in the economy and renewed interest from the corporate sector, builders have started to move their focus back to luxury housing projects. Various residential launches in the past few months validate this point. Appreciation potential with the return of demand and considering the track record of overheating certain obvious questions can be asked about the rationality of residential property prices in Gurgaon. The fact is that while rates would definitely appear higher than those in some of the smaller cities, one needs to factor in the degree of overall development and the demand dynamics prevalent in this burgeoning North Indian business hub. In market terms, residential property prices in Gurgaon are validated by the available infrastructure and overall locational value. They are certainly still at par with those seen in middle-segment housing in the rest of the country. In terms of locational value, overall desirability and demand, Gurgaon tops all other locations in the NCR region. Only South Delhi can compare on these fronts, but residential prices are even higher there. Nevertheless, residential properties in Gurgaon are not an option for buyers with budget restrictions beyond a certain point. Such buyers are looking at the newer, non-central sectors of Gurgaon, where prices are lower in keeping with the slower pace of overall development. Faridabad, the outer parts of Noida, Indirapuram and Ghaziabad are also seen as suitable options by budget home seekers within the NCR region. The upshot Gurgaon continues to be an excellent longterm investment. The market is growing at a rational and sustainable rate, and this is a healthy sign. Over-enthusiastic projections about returns on investment have died a natural death. As is the case with all other cities right now, actual returns from Gurgaon properties are still linked to macro economic performance. However, any property investment made with a horizon of five years or above will definitely fetch satisfactory returns. The author is CEO Operations, Jones Lang LaSalle Meghraj Courtesy: HT Estates 13 March 2010 For more information regarding apartment in gurgaon, bedroom apartments, buy property in india, commercial complex in india, commercial real estate, commercial space in gurgaon, dealers, flats for sale, indian real estate investment, investment options in real estate, luxurious flats, malls, office space, office space in gurgaon, online real estate, penthouses gurgaon, plots, property consultants, property in gurgaon, property india, property investment, real estate company, real estate developer, real estate gurgaon, real estate in india, real estate investment strategies, real estate market, real estate news, real estate portals, realtors, realty, residence, residential real estate, sell property, shop, villas, Residential Apartment Visit www.zameen-zaidad.com www.propertycafeteria.com
Sense finally prevails in this exciting arena, says Santhosh Kumar From complete bscurity to one of he most highly hyped North Indian growth corridors, to overheating and getting back to the top slot in India's most lucrative residential real estate investment hotspots when it comes to market status updates, Gurgaon has certainly been around. As is invariably the case in new areas, residential property demand for Gurgaon began on a strong and promising note. However, between 2007-08, it fell prey to speculators who purchased properties with the sole intention of making quick profits. This led to overheating of prices in Gurgaon, and the market began correcting sharply after a series of severe fluctuations in the stock market took place. Investors in Gurgaon's residential real estate market found themselves facing an unexpected lack of ready cash and began to sell their holdings. Prices corrected by 15-20 per cent in most projects. That said, the inherent strength of Gurgaon's property market revealed itself during the recent economic downturn and concurrent real estate market slowdown.
While the demand dynamics there did waver, the fact remains that Gurgaon is still the most preferred North Indian location for corporates. The resultant demand for quality residential spaces had dropped primarily because of a lack of supply of appropriately priced midincome housing, since most projects during the boom period focused squarely on the high-income segment.
The dawn of reason during the downturn, there was a marked slowdown in sales for higher-priced units at Gurgaon, but the severity of the drop was at par with the rest of the country.
This was a key phase, during which developers had to take decisions that would have immediate as well as long term effects on the viability of their business.
Fortunately, they aligned their business models to the new demand dynamics and finally started catering to the middle-income segment by launching affordable and mid-sized apartments. With the return of economic stability and a renewed focus on this vital market from domestic and international players, there has been a visible scaling up of development in terms of commercial office and retail space (from the current 22 million sq ft of office space to a projected 40 million sq ft by 2012). As a result, Gurgaon is once again witnessing a massive infusion of demand for quality residential properties. In the main residential areas and projects of Gurgaon, such as DLF Phase IV, Golf Course Road, M.G.
Road, National Highway 8, Nirvana Country, Sushant Lok, Sohna Road, etc. property rates have again started picking up. Residential as well as commercial properties of different varieties are available in these locations, and demand for them is picking up fast. As of now, prices are rising again for projects offering immediate or early possession. In fact, with the pick-up in the economy and renewed interest from the corporate sector, builders have started to move their focus back to luxury housing projects. Various residential launches in the past few months validate this point. Appreciation potential with the return of demand and considering the track record of overheating certain obvious questions can be asked about the rationality of residential property prices in Gurgaon. The fact is that while rates would definitely appear higher than those in some of the smaller cities, one needs to factor in the degree of overall development and the demand dynamics prevalent in this burgeoning North Indian business hub. In market terms, residential property prices in Gurgaon are validated by the available infrastructure and overall locational value. They are certainly still at par with those seen in middle-segment housing in the rest of the country. In terms of locational value, overall desirability and demand, Gurgaon tops all other locations in the NCR region. Only South Delhi can compare on these fronts, but residential prices are even higher there. Nevertheless, residential properties in Gurgaon are not an option for buyers with budget restrictions beyond a certain point. Such buyers are looking at the newer, non-central sectors of Gurgaon, where prices are lower in keeping with the slower pace of overall development. Faridabad, the outer parts of Noida, Indirapuram and Ghaziabad are also seen as suitable options by budget home seekers within the NCR region. The upshot Gurgaon continues to be an excellent longterm investment. The market is growing at a rational and sustainable rate, and this is a healthy sign. Over-enthusiastic projections about returns on investment have died a natural death. As is the case with all other cities right now, actual returns from Gurgaon properties are still linked to macro economic performance. However, any property investment made with a horizon of five years or above will definitely fetch satisfactory returns. The author is CEO Operations, Jones Lang LaSalle Meghraj Courtesy: HT Estates 13 March 2010 For more information regarding apartment in gurgaon, bedroom apartments, buy property in india, commercial complex in india, commercial real estate, commercial space in gurgaon, dealers, flats for sale, indian real estate investment, investment options in real estate, luxurious flats, malls, office space, office space in gurgaon, online real estate, penthouses gurgaon, plots, property consultants, property in gurgaon, property india, property investment, real estate company, real estate developer, real estate gurgaon, real estate in india, real estate investment strategies, real estate market, real estate news, real estate portals, realtors, realty, residence, residential real estate, sell property, shop, villas, Residential Apartment Visit www.zameen-zaidad.com www.propertycafeteria.com
Both the principal and the interest components of home loans offer attractive tax benefits Availing a home loan does not just make you the owner of a house, it also brings with it attractive tax benefits. Under section 80C of the Income Tax Act, investments in specified instruments up to Rs 1 lakh annually are deductible from an individual's taxable income. Also included under this section are principal repayments on a home loan. So, in case you take a home loan, any payments you make towards repayment of the principal is deducted from your taxable income up to an amount of Rs 1 lakh. Besides the principal, the interest component of a home loan also offers tax benefits. Your interest payments are considered as an expense under the head `Income from house property' and are deductible up to an amount of Rs 1.5 lakh per annum. Joint applicants, who are also joint owners, are eligible for tax benefits in the proportion of their share in the loan.
The interesting part is that both spouses can claim benefits up to the maximum limit. Let's take the case of a couple who buy a home jointly (each owning 50 per cent) and take a loan for it. If the interest and principal paid for the loan is Rs 3 lakh and Rs 1.20 lakh, respectively, each of them can claim Rs 1.50 lakh as interest deduction. This is also the maximum amount that an individual can claim. For the purpose of tax planning, the spouse earning with the higher salary should claim a higher share to maximise his/her tax relief. Always plan your tax savings after taking all the loan benefits into account, which are the deduction and the rebate. All banks and financing institutions usually issue a provisional certificate at the beginning of the year. This is based on the Equated Monthly Installments (EMIs) payable in the financial year, with the breakup of the interest and principal to be paid. This will give you an approximate idea of how much principal and interest has to be paid in that year. Accordingly, see how this translates into a rebate or interest deduction. Based on such projections, you can assess your income and plan for other investments such as tax-saving bonds and life insurance to save tax. At the end of the year, you will get an original certificate based on the actual EMIs paid for that year. This certificate has to be submitted along with the income tax returns to claim the deduction. Fixing home loan rates One has to be careful about the manner in which the rates are fixed on a particular floating rate loan. While there is a benchmark rate present, one needs to take into consideration its nature, which can influence the way a rate is fixed. There have been several examples where the bank or financial institution actually fixed a separate benchmark rate for its housing loans, which moves and behaves differently from the prime lending rate of the bank. This gives the financial institution flexibility to make several changes in the benchmark rate without having to rest all the loans in their portfolio. When a larger action has to be initiated, only then the prime lending rate is touched. This has also led to a situation wherein several borrowers have complained about the manner in which the rates move under different circumstances.
When the rates start falling, the revision in the rates is slower than the overall fall.
However, when the rates start rising, the rise in the floating loan rates are much faster than the overall rise.
New and existing loans the loan rate change benefit is available only in a few sectors. There are times when the lending bank or institution changes or lowers the rate on a floating rate loan. But, before existing borrowers can rejoice comes the news that the new lower rates will be applicable only to new borrowers who will be taking loans during a certain period.
This makes the entire move worthless for the existing floating rate loan borrowers because there is no change in the rates as far as they are concerned. There is also a slim chance that a person will go in for another loan to purchase a house because this is a large purchase that occurs at infrequent intervals.
How the spread works One term that is important to understand the fixing of rates as far as floating rate loans are concerned is the spread.
Often borrowers are impacted by a subtle change initiated by banks. The loan for a particular customer is decided on the basis of a benchmark rate. This can be a 50 basis points spread over the benchmark rate. In such a position, borrowers could find that even though there is no change in the loan rates, they have to pay a higher cost because the bank has changed the spread to 75 basis points over the benchmark. In this situation, the borrowers will find that the loan cost has gone up by 25 basis points for them.
However, this can be changed only in specific conditions and hence it is the terminology used for the entire loan that is important. All this seems to be a minute part of the entire process, but is of great importance to a borrower. Courtesy: HT Estates 20th Feb 2010 For more information regarding apartment in gurgaon, bedroom apartments, buy property in india, commercial complex in india, commercial real estate, commercial space in gurgaon, dealers, flats for sale, indian real estate investment, investment options in real estate, luxurious flats, malls, office space, office space in gurgaon, online real estate, penthouses gurgaon, plots, property consultants, property in gurgaon, property india, property investment, real estate company, real estate developer, real estate gurgaon, real estate in india, real estate investment strategies, real estate market, real estate news, real estate portals, realtors, realty, residence, residential real estate, sell property, shop, villas, Residential Apartment Visit www.zameen-zaidad.com www.propertycafeteria.com
Syed Amir Ali Hashmi finds both residents and real-estate prices in North Delhi upbeat -all thanks to better connectivity Aregion in the city that can boast of its own special charm is North Delhi. Much of it is due to the presence of the scenic Delhi University campus. Another aspect to the charm is added by Azadpur Mandi, where thousands of tonnes of fruits and vegetables land before finding their way to different parts of Delhi and neighbouring states. North Delhi is well connected with other parts of Delhi through local buses and the Metro. In fact, the superb connectivity offered by the Metro has had a very favourable effect on the real estate scenario here.
North Delhi encompasses an area of 60 sq. km. Major localities here include Alipur Road, Ashok Vihar, Azadpur, Civil Lines, Kashmere Gate, Model Town, Mukherjee Nagar, Navjiwan Vihar, Pitampura, Prashant Vihar, Rajiv Nagar, Rani Bagh, Rishi Nagar, Rohini, Shakti Nagar, Shalimar Bagh, Surya Enclave, Vardhman Nagar, Vivekanand Nagar, Wazirpur and Inderlok. Dr Prashant Bhasin, a dental surgeon who runs his own clinic in Shakti Nagar, was born and grew up in North Delhi. His grandparents as well as parents have called the Ashok Vihar area their home. "I would say that in the last ten years the area has evolved to a great extent.
The (development resulting from the) Commonwealth Games has had a good effect here and the Chatrasal Stadium has been upgraded to international standards and, yes, this will help the people staying here, especially those interested in sports," says Dr Bhasin. North Delhi, he adds, has seen vast improvements in the last decade. Along with many malls that have come up more recently, there has been widespread elctrification of the roads, facilitating the installation of streetlights. Lanes where residents never used to venture after dark are well-lit and safe now, says Dr Bhasin. "In Shakti Nagar Extension, a cricket academy has come up, and we've had some swimming pools come up in the area as well. One more stadium has come up on Lawrence Road. All this means that North Delhi has something for all ages and takes special care of kids' needs too," says Dr Bhasin. North Delhi is also one of the first regions to have witnessed improvements in connectivity to the Central Business District (CBD) due to the Delhi Metro. Ever since the Vishwavidyalaya Central Secretariat Metro link became operational, many North Delhi locations have seen a rise in property prices. In six months, the Jahangirpuri-Central Secretariat-Qutab MinarGurgaon Metro link is expected to get operational.
This in turn will allow easier access to various South Delhi locations and will also improve connectivity to Gurgaon. It is widely believed that this will improve North Delhi's status as a key residential zone and will drive property prices and rental values upwards. With increased accessibility to the CBD and other areas, the capital and rental values have seen a marked increase. Real-estate experts believe that areas such as Model Town and Azadpur have seen an appreciation of about 30 per cent in capital value. When it comes to the residential segment, houses near Metro stations attract higher capital and rental values.
Shailendra, a real-estate agent, says that when the Metro reached DU's North Campus, the rentals went up by 50-70 per cent. "The introduction of the Metro has meant that people from other parts of Delhi are moving to this area. It has also improved connectivity greatly. Business centres have come up as have some new hospitals. Fortis has come up in Shalimar Bagh, and there's Max Hospital in Netaji Subash Place," says Dr Bhasin. The developers are active here, too, now. Parsvnath Developers has launched two residential projects -near Civil Lines and Subhash Nagar Metro stations. The same developer is also coming up with La Tropicana apartments and villas on Magazine Road, Civil Lines, a project launched in 2005.
The project boasts sophisticated designs for three, fourand five-bedroom apartments, penthouses and villas. The company started construction in August 2009 after obtaining the requisite approvals including sanction of building plans by the Municipal Corporation of Delhi. The M2K Group, which has malls in Rohini and Pitampura, is coming up with Victoria Gardens, a freehold, residential project in the Model Town area. A look at real-estate prices: One-room janta flats in Pitampura, with an area of about 200 sq ft to 250 sq. ft, are priced at Rs 10 lakh to Rs 20 lakh. LIG flats, with one bedroom and a drawing room, spread across 400 sq.
ft can be bought for Rs 30 lakh to Rs 35 lakh in Pitampura. MIG flats come for Rs 40 lakh to Rs 65.7 lakh; super MIG (1150 sq.ft.) go for Rs 50 lakh to Rs 75 lakh; and HIG flats (1150-1450 sq.ft) are going for Rs 75 lakh to Rs 1.25 crore. Plots measuring about 200 sq yd in Pitampura are available for about Rs 2.25 crore to Rs 2.5 crore. Courtesy: HT Estates 20th Feb 2010 For more information regarding apartment in gurgaon, bedroom apartments, buy property in india, commercial complex in india, commercial real estate, commercial space in gurgaon, dealers, flats for sale, indian real estate investment, investment options in real estate, luxurious flats, malls, office space, office space in gurgaon, online real estate, penthouses gurgaon, plots, property consultants, property in gurgaon, property india, property investment, real estate company, real estate developer, real estate gurgaon, real estate in india, real estate investment strategies, real estate market, real estate news, real estate portals, realtors, realty, residence, residential real estate, sell property, shop, villas, Residential Apartment Visit www.zameen-zaidad.com www.propertycafeteria.com
The step-up EMI scheme is a good option to reduce repayment burden in the initial years. Ashish Gupta explains how this scheme works for young borrowers The step-up EMI scheme is a good option to reduce repayment burden in the initial years. Ashish Gupta explains how this scheme works for young borrowers the repayment of a home loan is through equated monthly instalments (EMIs). Some banks provide the step-up EMI facility to borrowers. The step-up EMI facility reduces the repayment burden in the initial years and helps in increasing the loan eligibility of the applicant. It helps young borrowers, especially those who intend to borrow early but do not have a high income and cannot afford higher EMIs in the initial years. Later, over time, as the income increases, they can afford to pay higher EMIs. In this process, the borrower takes on a higher interest rate risk if the loan is based on a floating rate of interest. A rise in the interest rate would mean a portion of the total interest would remain unrealised and added to the borrower's principal. Since a large part of the initial installments go towards interest payment, the borrower can avail of tax benefits for a longer period. Interest on the loan is a cost. However, the tax benefits reduce the cost of borrowing. This way, the borrower can deploy his savings into other investments schemes that offer a better rate of return. In this scheme, the EMI portion is recovered in parts. During the first few years, a lower EMI amount is to be paid by the borrower. During the latter part of the loan tenure, EMIs are increased, so that a higher EMI amount is payable during the later years. This way, the burden of repayment in the initial years is reduced for the borrower. The lower EMI is made possible because of the step-up facility where the monthly payouts increase during the later part of the loan tenure. The principal repayment under a step up loan may start immediately, thereby reducing the interest rate risk for the borrower. In other cases, the EMIs for the first few years are just enough to cover the current interest rate. The process of step up can be in different phases. In some cases, two phases are offered - one at a lower rate and the other at a higher rate. In other cases, the step-up can be a gradual process. It can be done yearly or every five years, or at some other time periods. Some banks also offer the step-up scheme with a fixed interest rate, but the rate of interest for such loans is higher than the floating rate. Borrowers need to remember, in a step-up scheme, the interest rate risk exposure is quite high. In the initial years, the interest component is more and the principal component is lesser. Lower EMIs in the initial years would mean lower principal amount is being repaid. This deferral of principal repayment to the later part of the loan tenure increases the interest cost of the loan. This may turn out to be higher in case of a floating rate loan, because in case the interest rate increases, a higher rate would have to be paid on a higher outstanding principal loan amount. In case of a rise in the interest rate, the difference is recovered through higher EMIs towards the end of the loan tenure. Borrowers who are likely to earn more in future can avail this facility to get a higher loan amount and adjust their cash flows over a period of time. Courtesy:- TOI dt:- 13-02-2010 For more information regarding 4 bhk apartment, apartment in gurgaon, bedroom apartments, buy property in india, commercial complex in india, commercial real estate, commercial space in gurgaon, dealers, flats for sale, indian real estate investment, investment options in real estate, luxurious flats, malls, office space, office space in gurgaon, online real estate, penthouses gurgaon, plots, property consultants, property in gurgaon, property india, property investment, real estate company, real estate developer, real estate gurgaon, real estate in india, real estate investment strategies, real estate market, real estate news, real estate portals, realtors, realty, residence, residential real estate, sell property, shop, villas, Residential Apartment Visit www.zameen-zaidad.com www.propertycafeteria.com
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Retail sector in Delhi has moved ahead, shedding off its traditional image and evolving into a more shopper-centric destination, especially in West and North Delhi. Brix Research surveys the scene Retail sector has made a paradigm shift from being a row of shops located on the roadside to moving into showrooms in a four-walled structure. The "Mall culture" has given an extra edge to retail market. It took some time in the beginning for people to accept and adapt to the emerging culture, but gradually, shopping is now all bout a mall experience.
With change in shopping pattern, most consumers look for a more efficient and serviced shopping experience. Trends are changing, and now, nobody wants to roam around under a scorching sun and hop shops to purchase assorted items like groceries, toiletries and clothes, each from a different shop. Today, people want one-stop shopping where they find everything under one roof.
There are a few areas in Delhi whose profile has changed drastically after the advent of shopping malls and shopping complexes, like Rajouri Garden, Pitampura, Wazirpur, Rohini and Shalimar Bagh.
Malls spree — Rajouri Garden
Rajouri Garden in West Delhi is one of the busiest mall hubs. With five functional malls - Lifestyle, TDI, City Square, West Gate and Paragon Mall - the place is jam-packed on weekends and one can have a torrid time hunting for parking space near these complexes.
Santosh Kumar, a property dealer in West Delhi, says: "Earlier, in 2006-07, these malls were lying vacant and there were hardly any footfalls. But now, they have become very popular and receive a large number of footfalls."
Nisha Kapoor, a resident of Rajouri Garden, says: "I used to shop from Rajouri Garden's local market till 2006, but now I shop in only malls. It is actually very convenient to do shopping inside a mall and I also get a chance to meet friends as we can spend time together in food court."
Malls have changed lifestyle, thinking and shopping pattern of consumers. This has also increased commercial and residential values in Rajouri Garden. Another factor going in favour of these malls is connectivity - Rajouri Garden is on the Metro line, enabling people from other parts of Delhi to travel here easily.
Emerging shopping hub — Shalimar Bagh
Shalimar Bagh is the other area in North Delhi that saw a similar transition in retail sector. Commercial market of Shalimar Bagh was inactive and there was no popular shopping hub before the launch of malls. Then, two new shopping malls, DT City Center of DLF and Shop in Park of BPTP, came up and gave the area a feel-good factor.
According to Brix Research Vacancy Report, vacancy in the malls has been constantly decreasing from the time of opening with current occupancy at 70-75%. The number of footfalls has also increased and the malls have attracted residents of Shalimar Bagh and nearby areas like Ashok Vihar, Lawrence Road, Model Town and Wazirpur.
Pradeep Kumar, a local property dealer, says: "The DLF DT City Centre mall has started doing good business and is witnessing a decent amount of footfalls. Earlier, the mall was lying vacant owing to a slowdown in property market, but for the past 6-8 months, its occupancy is rising and is doing average business. This has also increased commercial and residential property values of the area."
Chain of developing malls — Rohini & Pitampura
A similar trend was seen in Rohini, where there are approximately eight malls in pipeline. Out of them, four are operational and rest are under construction. The malls which have opened are Metro Walk, North-Ex Mall, PVR Prashant Vihar Mall and Vikas Surya Mall.
According to the Brix report, vacancy in shopping malls, have continued to decrease from 2007 to 2009 in Rohini. Sajeev Kumar, a local realtor, says that malls in Rohini have developed and the number of footfalls has also increased. The commercial and residential values of Rohini experienced 15-20% increase over the last two years with these malls up and running.
Usha Kapoor, a resident of Rohini, said the coming of malls has given a new identity to the place and residents feel they are living in a high-end locality.
Wazirpur and Pitampura are the others areas where malls have played a major role in changing the areas' profile and in diverting population. Pitampura's malls like M2K Pitampura, North Square Mall, Aggarwal City Mall and Movie Time have attracted people from neighbourhood areas for shopping and dinning. A few malls are still developing and are not yet fully occupied; but it is expected by market agents that once market recovers from slowdown impact, all these malls will to do good business.
While malls have changed shopping style and demand of consumers, this has also given way to international brands to set up their showrooms in India. They have increased popularity as well as real estate values of the area as found by Brix Research analytics team. Courtesy:- Times Property dtd:- 06-02-2009 More information: about Real Estate,Real Estate india, property, http://www.zameen-zaidad.com/ http://www.propertycafeteria.com/
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Brix Research
narrates how enhanced connectivity has helped entertainment destinations across NCR Transport corridors like expressways and the Metro line are bringing an increasing number of people closer to entertainment hubs. To that extent, they trigger growth of formal means of entertainment. One major development witnessed in National Capital Region (NCR) over the last 4-5 years has been the expansion of Delhi Metro line. This process started in Central and Western parts of the city and is now on course to link South Delhi and Gurgaon. This has provided common man with a mode of transport that is both economical and convenient. While daily journeys like the ones to college or workplace have been simplified - the occasional weekend outing too has been made much simpler as a result of enhanced connectivity to popular entertainment destinations.
One of the first entertainment destinations, which is strategically located near Rohini Metro Station, was launched by Unitech. This project was launched prior to the completion of the Metro line and has been fully operational since December 2007. It comprises Adventure Island - an amusement park and the Metro Walk Mall. According to Rajan Narula, MD of Unitech Amusement Park, "The expansion of Delhi Metro gives us reason to be very optimistic about future of our projects in Rohini, especially Adventure Island. While the city is dotted with malls and retail spaces - this is one of the few amusement parks and hence we expect a significant increase in footfalls upon extension of Metro line to South Delhi and Gurgaon, as distance will no longer be a prime consideration." He further adds, "Currently, 18-20% of our customers use Metro and they mainly comprise residents of North and West Delhi. While Adventure Island does draw some South Delhi residents - this figure is expected to go up in the near future."
Entertainment destinations in Noida are well known and attract residents from all regions of NCR. Prominent among these are Unitech projects - The Great India Place Mall and Worlds of Wonder amusement park - Great India is touted to be the largest mall in North India. These have been operational since September 2007.
November 2009 saw extension of Metro line to Noida, and its impact is there for everyone to see. According to Narula, "Earlier, while our consumer base comprised residents of East Delhi, Noida and Greater Noida, the expansion of Metro line has brought students from North Campus, as well as families from other parts of the city. Hence, we are very optimistic about future prospects after the extension of Metro to South Delhi."
The extension of Metro line to Gurgaon will further enhance connectivity within NCR. Residents of Gurgaon will be able to access entertainment destinations in the rest of NCR and vice versa. However, according to Narula, "Entertainment destinations in Gurgaon comprise mainly malls and multiplexes, which are now aplenty in other parts of the city. These days, a major portion of the footfalls comes from within a 5-6km radius around the mall." Hence, while Metro is expected to increase footfalls, percentage of population coming from regions outside Gurgaon will be small.
Entertainment options may also include theatre and art, which have been growing in popularity among Delhi's population over the last decade. According to S P Mishra, manager of Kamani Auditorium, "Delhi is witnessing a cultural shift and interest in theatre and other cultural shows is growing. The audience at Kamani Auditorium has grown over the past eight years and improvement in city infrastructure like extension of Metro line can only benefit people. Moreover, problems of parking faced on Copernicus Marg could be eliminated by using Metro rail." He further adds that their audience comprises both students, as well as the elderly, who may not possess their own vehicles and thus would benefit greatly from extension of Metro line.
Expansion of metro line is expected to increase connectivity and greatly reduce travel time within National Capital Region. Problems like traffic congestion and lack of parking space may be eliminated through usage of Metro rail services. Moreover, as population becomes more mobile, an increase in the number of entertainment spots like parks, theatres and malls is expected. While malls and multiplexes draw crowds from neighbouring localities, theatres and amusement parks, being rare, attract people from all over. Courtesy:- Times Property dtd:- 06-02-2009 More information: about Real Estate,Real Estate india, property, http://www.zameen-zaidad.com/ http://www.propertycafeteria.com/
The main advantage of NH-8 development was enhanced and high-speed connectivity between Delhi and the commercial hub, Gurgaon. But Brix Research finds that its impact has been even more in areas that earlier remained unconnected January 2008 marked the completion of the much-awaited Delhi Gurgaon Expressway, which added to the already booming development in the city. Improved connectivity and a sharp reduction in travel time, both within the city as well as to and from the national capital, were only some of the factors that made National Highway 8 (NH-8) the preferred route for residents of Delhi and Gurgaon.
Local realtors cite this as the driving force behind rising real estate values witnessed by Gurgaon post-2008, while other cities in National Capital Region were witnessing stable or a decrease in values. Brix Research tracks the changes in real estate values and subsequent development of localities in Gurgaon, which are directly linked to the expressway by being situated near one of its many entry or exit points.
Upon entering Gurgaon via NH-8, one will encounter Exit 5, opposite Exit 18. Prime commercial areas of Gurgaon close to these exits are Udyog Vihar, DLF Cyber Greens and Ambience Island. Ambience, DLF City Phase II and III are prime residential localities. Local realtors observe that much of the value appreciation experienced in these localities had begun prior to completion of the expressway, in anticipation of advantages that it would offer. Hence, there was no immediate impact on real estate values on completion of Delhi-Gurgaon Expressway. However, if we compare residential values for multistorey apartments in 2004 to those in 2008, there appears to be a 100% increase, from Rs 3,500 per sq ft to Rs 7,000 per sq ft.
In commercial segment, establishment of Cyber Greens and Udyog Vihar as commercial hubs of the city was possible only because of their easy access from NH-8 and a reduction in travel time from New Delhi. Commercial capital values were approximately Rs 10,000 to Rs 12,000 per sq ft before the expressway was operational, and have risen to Rs 12,000 to Rs 15,000 per sq ft currently.
This development is not without its drawbacks - traffic congestion is a serious issue, especially at the toll plaza. During peak hours, it can easily take up to an hour to cross the toll plaza. However, S K Mehta, a local realtor, says, "The benefits that construction of this expressway offered in terms of employment and connectivity far outweigh drawbacks due to traffic congestion. The real estate values have also not been adversely affected by these drawbacks."
Exit 6/Exit 17 are situated near localities like MG Road, IFFCO Chowk and Sukhrali. Residential values of these areas witnessed significant appreciation, almost 100%, as they rose from Rs 4,000 per sq ft in 2005-06 to Rs 5,500-5,600 per sq ft post completion of the expressway, and currently quote at Rs 7,000 per sq ft. Commercial values, however, witnessed a 50% rise across both office and retail spaces post-2008. While traffic congestion at IFFCO Chowk has been cited as an issue, it has had no significant impact on real estate values in these localities.
Situated near Exit 7/Exit 16 are localities like South City I, Sushant Lok and Sector 14. In these areas, too, residential values have witnessed an appreciation of approximately 100% with current values at Rs 6,000 per sq ft, up from Rs 3,000 per sq ft before the completion of the expressway.
Commercial values too, have witnessed significant appreciation, from Rs 5,000 to Rs 6,000 per sq ft before completion of the expressway, to their current value of Rs 12,000 per sq ft.
According to local realtors, the significant appreciation of values could be due to better connectivity, which led to relocation of many Delhi-based companies to prime commercial destinations like Signature Towers, Cyber Park, etc. "Demand for retail space in these localities is very high as compared to supply. This is due to better connectivity, facilitated by the completion of Metro rail link as well as the expressway," says Mehta. Exit 8/Exit 15 lead to localities like Jal Vayu Vihar and Sector 30-31. Residential values witnessed 10-15% appreciation in these areas. Some projects like Uniworld City and Uniworld Spa launched by Unitech have witnessed significant appreciation since 2004. Bookings started from Rs 2,400-2,500 per sq ft and are currently quoting at Rs 6,000 per sq ft.
Exit 9/Exit 14 take one to localities like Jharsa Road, Sector 15 and Sector 32. Of these, Sector 32 is an institutional area, which was fully developed and comprises plots allotted by HUDA to end users/developers for specific purposes. Most development in this locality occurred after construction of the expressway with very little development prior to 2008.
The current commercial projects are BPTP Park Central, DLF Star Mall and Bestech's commercial projects. DLF's ITSEZ is also under construction. Raheja Atlantis is one of the residential projects with ready-to-move-in apartments and has witnessed 20-25% appreciation in values since completion of the expressway. Availability of retail space is less, compared to demand, which justifies its high value at Rs 16,000 to Rs 18,000 per sq ft, up from Rs 5,000 to Rs 6,000 per sq ft prior to 2008.
Local realtors say the maximum development after completion of the expressway was seen at localities situated at Exit 10/13 viz. Sohna Road, Rajiv Chowk and Secretariat. Residential values have risen from Rs 2,000 to Rs 2,200 per sq ft prior to 2008, to the current Rs 4,500 to Rs 5,000 per sq ft. New residential projects include Unitech's Uniworld Garden, whose values have risen from Rs 1,575 per sq ft when bookings started in 2005 to their current rate of Rs 4,200 to Rs 4,300 per sq ft. Vipul Greens is another project which witnessed similar trends post-2008, as also Vatika City.
The commercial values in these areas have risen from Rs 3,500 to Rs 4,000 per sq ft to Rs 5,000 to Rs 6,000 per sq ft. A number of new projects like Vatika Technology Park, Vipul Technology Park, etc, have come up in the commercial segment. Retail has also developed post-2008, with a number of malls coming up, like Omaxe Wedding Mall, Raheja R Mall and JMD Galleria. The retail values are approximately Rs 9000 to Rs 10,000 per sq ft.
Exit 11/12 covers Hero Honda Chowk, Sectors 9, 10 and Pataudi Road. Apart from a cooperative group housing society, which was operational since 2000 in Sector 9, there was hardly any residential development in this area. Still, the current residential values are nearly Rs 3,000 per sq ft.
To conclude, the expressway has not only made developed localities of Gurgaon more accessible, it has also facilitated development of new localities like Pataudi Road. According to S C Jaisimha, MD of AsiaPac International, "Master Plan 2021 has opened many sectors for development with 30-35 new sectors getting approval. Thus, with the increase in supply, appreciation of values was not as high as was expected, despite huge development and better connectivity after completion of the expressway. However, ready-to-move-in options command higher prices (10-15%) than those which are under construction."
Most of the new development envisaged in Master Plan 2021 is on the Manesar stretch, currently called New Town Gurgaon, a locality which has been made accessible only due to construction of the Delhi-Gurgaon Expressway. More information : http://www.zameen-zaidad.com/ http://www.propertycafeteriya.com/ Courtesy:- Times Property dtd:- 06-02-2009
Pataudi Road is coming up as a potential real estate hub because of its proximity to completed, forthcoming and proposed transport links. Brix Research probes the latest entrant on Gurgaon’s Master Plan Pataudi Road, a previously isolated locality between commercial hotspots, Gurgaon and Manesar, has become a potential destination for investment thanks to increased accessibility. It is now is in the vicinity of three major highways – the recently completed Gurgaon Expressway (NH-8) and the upcoming Kundli-Manesar-Palwal (KMP) Expressway and the proposed Dwarka Expressway.
With connectivity promised in future, and being part of the 2021 Gurgaon-Manesar Master Plan, Pataudi Road is the latest hub, still affordable, but expected to witness appreciation in realty values in the near future. Subhash Kumar, a local realtor, attributes growth of Pataudi Road to increasing demand for housing in Gurgaon, which has led builders to seek new localities that could serve as sites for affordable housing options.
The completion of Gurgaon Expressway (NH-8) had a significant impact on development in Pataudi Road, by way of providing the first link to the more developed regions of Gurgaon and also sharply reducing travel time to Delhi. With areas like Sohna Road becoming commercial hubs, Pataudi Road would be an ideal residential destination at sniffing distance.
Further, as Vitul Sharma, a realtor, says: “The completion of NH-8 had a significant impact on Industrial Model Township (IMT) Manesar, which witnessed appreciation of commercial values. Its proximity to Pataudi Road is an important factor governing development in this locality. As an increasing number of companies shifted their offices to IMT Manesar, the demand for housing in neighbouring localities was bound to increase. This is what builders have cashed in upon.”
The KMP Expressway was the driving force behind rise of Pataudi Road as a potential destination for investment as well as a catalyst for projects like Special Economic Zones (SEZs) by Reliance and Raheja Groups. Sharma says, “With the advent of these commercial projects, a number of projects in the residential segment have also been launched.”
In the near future, Dwarka Expressway is expected to emerge as a lifeline to Pataudi Road, as it provides a direct link to IGI Airport and will enable a drastic reduction in travel time between Delhi and Gurgaon. Further, at 210 metres, its width is greater than those of existing highways like NH-8 (120m), and thus, is expected to hold larger volumes of traffic. A major development in residential segment in this locality has been Ramprastha City – Gurgaon’s first integrated township, spread over 450 acres and located at Sector 37D – promoted by Ramprastha Builders. It comprises three residential projects – Edge Towers, Atrium and The View. While Edge Towers is a luxury project, which was sold out prior to the onset of economic recession in September 2008, Atrium and The View comprise budget homes and were sold out within two months of their launch in 2009.
According to Saurabh Rana, GM sales and marketing, Ramprastha Builders: “The response has been tremendous and comes from mainly end users. Ramprastha City is the first self-sufficient integrated township in Gurgaon where schools, hospitals, post offices, commercial and retail space would be available within the complex itself. In addition, we also provide facilities like swimming pool, skating rink, tennis courts and children’s play areas. However, the main factor that our buyers are concerned with is connectivity of the locality, which will improve significantly upon completion of Dwarka Expressway.”
Other residential projects coming up in this locality include:
Tulip Petals with multistorey apartments priced at Rs 2,750 per sq ft
Raheja Developer’s Navodaya in Sector 92/95. Spread over 17 acres and situated adjacent to IMT Manesar, this project is expected to provide housing to executives of IMT Manesar, and other industrial areas in Gurgaon
Ramprastha Builders have another integrated township in the pipeline, which will be located at Sector 92/93. This is also spread over 450 acres and would be along the lines of Ramprastha City
The SEZs by Reliance and Raheja are expected to come up upon completion of the Dwarka Expressway. These would also function as integrated townships combining residential as well as office, industrial and retail spaces
Looking ahead, Dwarka Expressway is the main factor governing development of Pataudi Road as many projects are hinged on its completion. Further, Master Plan 2021 showcases this expressway as its lifeline and all the sectors envisaged in it are along the expressway. “While the completion of NH-8 gave birth to this locality – and KMP Expressway brought investment in the commercial segment – Dwarka Expressway will ensure its growth. With traffic congestions mounting on NH-8 and MG Road, Dwarka Expressway will, in the next 4-5 years, become the preferred route to Gurgaon,” says Rana of Ramprastha. He further says that a plan for extending Metro line along the expressway is still on the drawing board. Once approved, this would further enhance connectivity of Pataudi Road. Ultimately, Pataudi Road’s significance comes from its proximity to transport links. The speed at which they are completed will determine how long the development of this area takes. More information : http://www.zameen-zaidad.com/ http://www.propertycafeteriya.com/ Courtesy:- Times Property dtd:- 06-02-2009
Over the past quarter, the office real estate market has shown an uptrend in terms of level of enquiries, which, more positively, has also resulted in enhanced number of deals, said a CB Richard Ellis report on office market in India. It said whilst the IT/ ITeS sector has been slower to get onto the recovery path, corporate office space take-up has been quite encouraging. Financial institution, FMCG and Telecom sectors have all contributed to the revival in the demand. The report said that though the volumes are still on a lower end of the spectrum, markets are not as moribund as they were at the beginning of the year. As supply has overtaken demand facilitating increased competition, better quality developments are attracting demand. The positive aspect of the current development is that the issue of quality is coming to the forefront. ‘‘This is encouraging for the real estate sector as a whole with commitment to quality finally getting its due rewards, the report said. Commenting on the findings of the report, Anshuman Magazine, Chairman & MD, CB Richard Ellis, South Asia Since the 3rd quarter of 2009, the office segment has seen some movement with corporates slowly returning to the market and office space take-up improving. In 2010, demand is expected to improve though rentals are expected to remain flat in medium term due to large supply of office space. All the seven cities Mumbai, NCR, Bangalore, Chennai, Hyderabad, Kolkata and Pune witnessed improved levels of activity in the office sector. The rentals in the central business district of NCR, Bangalore, Hyderabad and Kolkata remained constant; whereas in Mumbai and Chennai the rentals dropped by 3% and in Pune by 5% owing to limited leasing activity. Recessionary times also made most developers shift their focus towards affordable housing, which has received a positive response from the investor and end user market alike, the report said. It further said that 2010 brings hope of a new and fresh start; and activity levels in the market are expected to continue. Year 2009 started on a sour note for the residential, retail and office segments. Office demand saw a substantial drop which triggered a decline in rentals and postponement & cancellation of projects. Courtesy:- Times Property dt:- 16-01-2010
As we move into a new, and hopefully, better year, it is the residential sector that is leading the way towards a revival in the real estate industry, says Archana Sinha As the year 2010 begins, it is heartening to note that homebuyers are taking the lead in reviving the realty market. Looking forward, it is almost certain that the residential sector will continue to play a major role in shaping future growth in the sector. For homebuyers, this also means that developers are going out of their way to woo customers, with projects to suit different tastes and budgets. Talking about the phenomenon, Kaustuv Roy, executive director, India, Cushman and Wakefield, the international property consultants says, “Post meltdown, the residential sector has been the fastest to recover with stabilisation of prices being the major factor. The oversupply percentage was lower compared to other sectors, where estimates were much higher than the actual demand.” Roy adds, “Since June this year demand-supply gap has been lowered in the residential sector with many projects launched.This is the most versatile sector with a faster turnaround time (within one - and- a-half to two years) unlike a commercial or a retail project. In a residential project, booking starts from the launch moment, Unlike the other sectors, and that will drive the upward movement of the real estate sector.” A similar note was struck by Anuj Puri, country head, Jones Lang LaSalle Meghraj. In a December 2009 report by Cityscape Intelligence, he says: “Although many large retailers are back in the market and pursuing growth cautiously, it is the residential sector which is undoubtedly the revival king, striking a high note over the last one and-a-half quarters, with pent-up demands bubbling over into hardcore sales and committed enquiries. The residential revival is by far most sustainable.” The actual players in the market, the developers, also feel the same. Jayant Gehi, general manager, Mayfair Housing says, “I couldn’t agree more the residential sector will lead this has already started, as in the last six months major consumers came from this segment. Although recently we have seen signs of revival in the commercial and retail sector too, at the helm of it all, residential spaces would find the greatest number of buyers. India needs too many homes and there are too few at the moment. Supply would increase as the government and banks are taking interest in augmenting the sector.” Manju Yagnik, vice-chairperson, Nahar Group, adds, “Banks are supporting residential projects with loans and tieups. A great deal of activity is seen in the middle as well as the luxury segment. In fact the commercial projects are kept under lock and key as they were made for IT and foreign companies, which have put their plans to enter India on hold since recession. The oversupply in these spaces would take some time to absorb as opposed to the residential sector, which is in short-supply.” Yagnik informs, “People who were waiting are returning to the market as they have seen enough ups and downs in the property market for the past seven years and are aware of the fact that the prices are steadily appreciating. The NRIs too are showing interest in residential properties as they are feeling insecure after the several ups and downs in recent years. They are looking to buy homes to secure their place in their homeland.” Brotin Banerjee, CEO and MD, Tata Housing, says, “The Indian residential market has certainly been leading the way to recovery. Transaction volumes have rebounded and pricing improved across the country. While the off-take has been modest in most cases, moves have been substantial in some geographies, especially in the affordable housing category. Sustainable integrated township development offering a lifestyle and modern amenities has received tremendous response from the consumers.” Banerjee also believes that the next financial year would witness the residential property developers being agile, innovative and cost conscious. They would work harder to win consumers, change their products to suit various budgets and the brand would play a role in giving comfort and confidence to a jittery consumer market. Kaustuv Roy feels that the affordable housing would drive the market. But in Mumbai and Delhi, there would be considerable demand from the premium segment as well. There will be demands across all sections as these cities offer employment from various sectors and most of them are showing signs of recovery. However, in the Southern cities and Pune the dependence on IT sector is heavy. However, both Anuj Puri and Roy feel that the sector has to be sensitive to the price factor, which if escalated beyond affordability may see a setback. Courtesy:- Times Property dt:- 09-01-2010
Investing without a plan is like driving without a map in a desert. This year, filter the noise of financial advisors and stick to your financial plan, says Nikhil Walavalkar By The end of 2008, for most salaried individuals, the resolution was to save their jobs. Within a year, many are thinking of growth opportunities as smiling faces have replaced worry wrinkles. As the stock markets end the year on a high note, there is a need to sit down and plan for the year ahead. DISCIPLINE “In 2010, your discipline will make a difference. Having a discipline and planning for the future is a must. One must adopt a method and stick to asset allocation without getting swayed due to shortterm volatility,” says Hrishikesh Parandekar, CEO of Karvy Private Wealth. At a time when everything from job market to India’s GDP and from equities to real estate look optimistic, the discipline becomes the key determinant of investment success in 2010. FINANCIAL PLAN As the markets move, we come across many new products and new promises. “Investors will come across investment proposals that promise to double their money in a year. There is a need to filter the noise and stick to their financial plan,” says Amar Pandit of My Financial Advisor. If you do not have a financial plan ready, get it now. Investing without a plan is like driving without a map in a desert. “As we approach 2010, one should clearly identify his short-term and long-term needs. Accordingly, one should invest taking into account long-term inflation-adjusted returns of asset classes,” asserts Aneesh Srivastava, chief investment officer of IDBI Fortis Life Insurance Company. CONVICTION There are cases where investors get a financial plan and execute it. However, as markets move, investors start thinking of moving with the markets. As equities move up, the asset allocation tilts towards equities. Under such circumstances, there is a need to rebalance your portfolio. You should have conviction in your ideas and a roadmap towards wealth creation. CHANGE The fundamental principles of wealth creation never change. However, there are many changes in the environment. One should aim to manage change in a better manner. Dynamic economic variables need not alter one’s stance. However, there are many learning opportunities available in the economic environment. As the regulatory environment changes, one comes across many new offers to build on to. Online investments, digital tax returns can be some of the ‘change agents’ we may have to learn to live with. LEARNING Each year leaves us with some lessons. We come across new products, new concepts and new skills that may be helpful in propelling our boat towards the financial goals. There is a need to aspire to seek knowledge and find out better ways to apply the acquired knowledge for one’s benefit. There are instances where we may have to unlearn before we learn the new knowledge. Investors must understand that the process of learning and unlearning is an ongoing one and we have to approach the same with an open mind in 2010. EMOTIONS When an asset delivers returns, one should be in a position to ascertain the contribution of both fundamental returns and speculative returns. Fundamental returns come from the fundamental changes whereas speculative returns are attributed to the change in the investor perception. Fundamental returns are influenced by the speculative elements. Over the years, speculative elements backed rallies in markets have led to increased volatility. Emotions play a big role in volatile markets. The debate of ‘Emotions or intelligence’ is over. It is the time to go for ‘intelligencebacked by emotions’. Year 2010 will reward those who work harder for gaining the intellect and simultaneously improve their ability to control their emotions. Courtesy:- ET dt:- 01-01-2010
SUN DIVINE is Situated in prime locationin Ahmedabad, Sun Divine has great advantage of excellent road connectivity and calm-peaceful interiors. The surrounding neighbourhood has low density bungalow development in Ahmedabad, 'Sun Divine' being the only apartment building in 1 km in Ahmedabad. radius has a distinct advantage. Well known 'Prasang Party Plot' is located right opposite the site and the new High court is less than 3 minutes away. Several office buildings situated on S.G. Highway Ahmedabad are easily accessible. The prestigious proposed projects such as DLF City by DLF and Shantigram Township by ATRECO, are located few minutes away from the site in Ahmedabad. The excellent location will benefit all who wish to stay connected within Ahmedabad city as well to those who have workplaces in Kalol and Gandhinagar. Located amidst peaceful surroundings, Sun Divine offers high quality living with a wide range of lifestyle amenities. Experience a quiet tranquil of nature with your family and spend those quality moments to live life to the fullest. For more info log on to http://www.zameen-zaidad.com/sun-divineI-ahmedabad.aspx
Few banks in the country have started offering reverse mortgage loan. While it is quite popular among the elderly in the west, there is not much awareness about the same in India and it still needs time to pick up Reverse mortgage, as the name suggests, operates in a manner opposite to that of the typical mortgage such as a home loan. In a typical mortgage, you borrow money in lump sum right at the beginning and then pay it back over a period of time. In your payback - the EMIs - a portion goes towards paying the interest and the remaining goes towards paying back the principal. All along, you pledge the asset - the house you have bought with the loan - to the bank. This asset is the security against which the bank is lending to you. In reverse mortgage, you pledge a property you already own (with no existing loan outstanding against it). The bank in turn gives you a series of cash flows for a fixed tenure. These can be thought of as reverse EMIs. A house can thus generate good income during your lifetime. The key question is - how much of an annuity income can a house generates using reverse mortgage? According to Bharti Gupta Ramola, transactions leader at PricewaterhouseCoopers (PwC) India, "The annuity income will depend on a number of factors. These should include, among others, the value of the house (banks look for a valuer's certificate), residual life of the house, the proportion of the value considered for financing (banks may consider up to 90% of the assessed value subject to a cap of Rs 1 crore), the period of the mortgage, which may vary between 10 and 20 years, the interest rate applied. To give you an example, one of the leading banks is currently quoting an annuity value of about Rs 56,000 for an assessed loan value of Rs 10 lakh for 10 years." The tenure of a reverse mortgage loan is a maximum of 15 years. The residual life of the property should be at least 20 years. The payments stop after 15 years but the borrower can continue to occupy the premises. A few banks like IndusInd Bank, SBI, PNB offer reverse mortgage loan. SBI Reverse Mortgage Loan was recently rolled out for people above 60 years. The loan is being given jointly if the spouse is alive, provided he or she is above 58 years of age. So what is the developer' take on reverse mortgage. Ashiana's Ankur Gupta feels that the reverse mortgage is an excellent product but has not been marketed well. He feels that for banks, this is a risky product, on which they have to invest a lot of time on creating awareness. "The best thing about this instrument is even if an elderly person decides to reverse mortgage his house at says Rs 30 lakh today, and it becomes Rs 50 lakh worth after he dies, his inheritor can pay off the debt and buy the house back from the bank or the HFI. So, it gives the senior citizens a chance to enjoy a good quality of life with regular returns coming their way without having to be uprooted from their residence of years and it also gives the inheritors an opportunity to buy back the asset and own it if they so desire," Ankur adds. "It is a very practical product which should have come to the country a long time ago, but nevertheless, now that it has finally come and is being offered by some of the nationalized banks," says a south India-based developer, Nawaz Hussain, director marketing of South India Shelters Pvt Ltd. He adds that it would certainly give a sense of security to senior citizens (60+), especially in an age where children move abroad for better placements or opt to have nuclear families. Kumar Gera, chairman of CREDAI, is of the opinion that reverse mortgages is a very good instrument. He says that when he compares two scenarios where an elderly person sells his house to generate income and shifts to a smaller unit, and the other where he uses reverse mortgage instrument and converts a non-liquid asset - the house - into liquid cash flows for himself and continues to live in that house even after drawing cash flows from it, the latter scenario wins hands down. Until now, the common practice and the only option available for an aged retired person lacking income was to sell his property and move to a smaller house or a smaller city - say, from a 2BR in Mumbai to a 1BR in Mumbai or a 2BR in Pune, and put that money into returns. This way they were uprooted, had to change their lifestyle and had to be burdened with paying taxes and managing the money. Instead, if they negotiate with a bank, they don't have to sell that house anymore and they can continue to stay in dignity at a place where they have spent all their years. Another view is that this instrument may work at a theoretical level in India and fail at the level of execution due to perception of house as an emotional entity and people preferring to pass on a house to the next generation rather than a reverse mortgage loan. Bharti Ramola agrees that there may be initial resistance because parents want to leave unencumbered property for children for emotional reasons. But, she also argues that this trend will pick up slowly as there are many parents now whose children do not live with them, nor are in the country. They may prefer to seek such a mortgage rather than ask their children for monetary help. Courtesy:- ET Realty dt:- 18/12/2009
Builders may tempt you with special discounts in their housing projects . But before you fall for such offers, you ought to ask the right questions, advises vidyalaxmi Buying a house is one of the biggest financial commitments today. Many developers offer to sell apartments during the construction phase. Buyers are tempted because of the discount to current market price and the attractiveness of the show flats on display. But remember, there is a trade-off. While you get a discount for the under-construction flat, you are also undertaking the risk of timely construction. If you are a potential buyer of under-construction property, you can deal with the risks better with some information on hand. Payment milestones If you have a choice, opt for the property that allows you construction-linked payment plans. If construction is stuck half-way, there is no pressure on you to make future payments. “Lenders are happier funding by this route. It gives both the buyer and the financing institution greater comfort levels,” says Ashutosh Beri, managing director — Property & Asset Management, Jones Lang LaSalle Meghraj. Interiors matter Most developers who have construction-linked target, link the instalment to casting of slab. Over 80% of the payments are required to be completed by the time the slab structure is in place. In reality, given the technology used today, the slab casting gets completed in no time. While 80% of the construction time is taken in doing up the rest of the work. Time-linked not legal During the boom, many builders shifted to a time-linked payment plan. So a customer was required to pay even if the developer didn’t show any signs of progress in the project. But many developers were caught on the wrong foot as the law of the land widely advocated for construction-linked payment plans. Developer funding of EMIs Post financial crisis, some builders started offering schemes where they pay the EMI of under construction properties . “After 2-2.5 years, the builder would ask the borrower to take care of EMI payments as the project would near completion,” said Gulam Zia, National Director — Research & Advisory Services at Knight Frank India. Investors beware If you are buying an under-construction property as an investment, you would be exposed to liquidity risks. Until there is a conveyance or a co-operative housing society formed by home buyers, investors cannot re-sell their flats without a no-objection certificate from the developer who might ask for transfer charges for the same. Investors in a Central Mumbai propertyare facing a demand for transfer charges amounting to Rs 2,500 per square feet from the builder. Down payments risky Here you are actually getting into the tricky area of financing a builder. Probably a builder who is not creditworthy enough to get a loan from mainstream lenders, which is why he is willing to offer discounts up to 25% for those who put up the cash. It’s a bad choice for customers as there are many projects that have not see the light of the day. Courtesy:- ET dt:- 16-12-2009
Ramnath believes that improvement in profitability will depend on future Real estate projects. “Profitability will improve only after subsequent new Real Estate projects are launched at higher prices as compared to previous projects which we believe is unlikely in the current scenario. Developers are likely to hold on to current(increased) price levels until demand increases significantly from current lavels.” The worrying factor for realty players continues to be the commercial and retail space, which suffer from oversupply and will take at least another two quarters to recover. In a recent report on the Real Estate sector, a JP Morgan report says that rentals for office space have already corrected by 30-40 per cent from their peak levels on the back of slow demand and leasing activity and vacancy rates remain high at over 10-15 per cent across key Real Estate markets. The research firm believes that while demand from domestic corporate has started to firm up, IT/ITES demand is likely to remain subdued. We review the operations of the largest Real Estate players by Real Estate market capitalization in the Real Estate sector.
Increasing prices of transfer of development rights (TDR), which had bottomed in the March quarter of 2008-2009, augurs well for HDIL. TDR prices have spiked 80 per cent from levels of Rs 1,100 per sqft in March 2009 quarter and will benefit HDIL which is executing the first phase of the airport slum rehabilitation Real Estate project where it has TDRs of nearly 45 mnsqft. Almost all the revenues in the current fiscal are likely to come from the sale of about 3 million sqft of TDRs. The company launched three residential projects totaling 1.9 mnsqft in Andheri and Kurla, in Mumbai. Considering the high demand (it has managed to sell 80 per cent of the 1,814 units at these sites), the company raised prices between 5-14 per cent. In addition to these, HDIL plans to launch 2 mnsqft of residential projects in Mumbai in the current fiscal. A key concern for HDIL was the debt levels, which have come down significantly post the Rs 1,688 crore QIP in July 2009. The company has used over 80 per cent of this to repay debt and bring down its net debt-equity ratio to manageable levels of 0.44. While the residential project launched in different parts of Mumbai will yield revenues in 2010-11 and 2011-12 (the company follows the completion method of accounting) and the increasing prices of TDRs are a plus, the current quarter revenues and operating profit are expected to come down by 64 per cent and 79 per cent to Rs 200 crore and Rs 97 crore, respectively. At the current levels, the stock is expensive. Indiabulls Real Estate:- Indiabulls Real Estate(IBREL) has been able to lease out 0.7 mbsqft of space at the One Indiabulls Centre (Mumbai) at Rs 175 sqft per month. Considering that this is higher than the earlier rates of Rs 150 per square feet, both at the Jupiter and Elphinstone Mills, and future negotiations are likely to be at the new rate, it should boos cash flow of its Singapore-listed subsidiary Indiabulls Properties Investment Trust, which undertakes the leasing operations. A rights issue by IPIT to the tune of Rs 600 crore should also help reduce a part of its Rs 636 crore debt. On the residential sales front, IBREL sold all the units(0.53 mnsqft) of the first phase of its Sky project in Mumbai and has also launched three residential projects next to its One Centre. While the company launched about 9 mnsqft in 2008-09, it is planning to launch about 10 mnsqft in 2009-10, of which 5 mnsqft has already been launched. The company has also been the highest bidder at Rs 1,376 crore for the Mantralaya development project in Mumbai, which could add 1.5 mnsqft to its land bank and about Rs 29 to its NAV. The Rs 1,500 crore IPO of IBRELs subsidiary, Indiabulls Power, should help it to fund the capital requirements of power projects in Maharashtra. While the cash flow from the proposed rights issue of IPIT, IPO of its power subsidiary and the QIP (Rs 2,650 crore) of IBREL should help matters, growth in its various businesses will depend on the pace of execution. In realty, while thus far the construction work at its NCR and Channai work is going on, other properties are facing delays according to an ICICI Securities report. While cash is not an issue for IBREL (it has Rs 3,000 crore worth Rs 75 per share), any delay in execution of it’s residential, SEZs (not yet notified) or power projects could be costly. Analysts peg the sum of parts valuations (power and real estate) between Rs 335-355 indicating that returns of about 21 per cent from the current prices.
A prominent developer is launching a business park with buildings that can adapt to the changing environment making them safe, secure and a delightful experience for the occupants They say India lives in its villages. But theres another India, a new resurgent India. With breathtaking realty developments taking place in Noida, a lot of foreign and domestic firms in IT, IT-enabled Services and back office sectors have recognized its potential as a hub for providing quality infrastructure and other facilities. As India increasingly turns into a back office for the world, Noida has emerged as a key destination for service industry to operate from, with Noida Expressway providing strategic accessibility. Advant Group, a multi-faceted organization, has launched the second phase of Advant Navis Business Park one of the most modern and hitech business parks, which has been developed along intelligent energy-efficient Green Building concept. Advant Navis Business Park has been conceptualized as intelligent green building buildings that can adapt to the changing environment making them safe, secure and a delightful experience for the occupants, in the words of the developers. This project delivers tremendous value to our clients and stakeholders by maximizing occupant performance, optimizing investment through reducing operational cost, and most importantly, preserving our environment, says Sunil Sharma, director of Advant. Advant Navis Business Park is strategically located about 6-minute non-stop drive from DND toll road. A hub for multinational firms for outsourcing services, the site is conveniently placed on the Noida Expressway, offering excellent visibility and accessibility. This new facility, conceived and designed by the Advant Group, is a strategic initiative to provide a one-stop solution for hybrid global delivery services, according to Sharma. As the name suggests Advant-Navis, which means ship in Latin, has been conceived in the shape of a ship and is designed in a very innovative manner with two interconnected towers rising up to 84 metres. Tower A is 15 floors high and has a super area of 4,90,000 sq ft while Tower B reaches 13 floors, spanning an area of 3,90,000 sq ft. The towers are connected by sky bridges on all the floors to provide very large contiguous floors plates ranging from 30,000 sq ft to 62,000 sq ft. A three-floor high atrium is placed right in the heart of the twin towers and provides spectacular views of the bridges. The first phase of the Business Park has already been sold out and the second phase of the construction has already begun. Advant Navis Business Park is one of the few selected projects in Noida which currently has options available for both selling and leasing of space. Advant Navis Business Park is aiming to achieve the prestigious gold rating under LEED (Leadership in Energy and Environmental Design, a Green Building rating system, developed by the US Green Building Council), which will make this project one of the most environmental-friendly projects envisaged right from the design stage and will be one of the few commercial projects in India to achieve LEED Gold certification. This project aims to reinforce sustainable development using cutting-edge green technologies to deliver eco-friendly projects. The towers are designed to cover only 19% of the ground, leaving rest of the area for shaded landscape courts with water bodies and plants, which helps to reduce the ambient temperature, Sharma says. Use of heat reflective glass, highly efficient airconditioning system, BMS and LED lighting, occupancy sensors, lux sensors and dimmable ballasts, are some of the other key technologies to intelligently conserve energy consumption without affecting the comfort of occupants. I am extremely elated to launch this project as it is our sincere endeavor to make the society a better place to live for all and that is exactly the reason for the green building concept used in this project. We are currently offering assured return plan for our Phase-II where the company is giving 12% assured return to its investors or buyers during the construction period of Tower-B and till possession, which is expected to be in about 2 years. This is an addition to our introductory discount of Rs 250/sq ft on the project. The assured return plan coupled with its very attractive affordable pricing makes this as one of the most attractive investment options in the realty sector in NCR today, Sharma adds. Advant Navis is a multi-tenant facility in a campus-style setting that includes common facilities on sharing basis in order to reduce the need for additional space by up to 20%. Shared facilities such as cafeteria, food courts with multi-cuisine restaurants, coffee shops, recreational zones, health club and gym, banking and ATM, medical aid, travel desk, daycare, conference facilities, handicap friendly facilities, etc, are some of the features. The intelligent features installed are a network of intelligent controllers that interface with data sources like HVAC, access control, plumbing, fire fighting, security, surveillance, ambient lighting and temperature, electrical loads, utilities, occupancy, CO2 and CO sensors. Advant Group is engaged in building Business Parks, Hospitality, Commercial Office Space, Retail Space. Courtesy:- Times Property dt:- 07-11-09
Customers today want nothing but the best when buying a house. But, the jury is still out on what exactly makes a property click for them Day: Sunday. Place: Greater Noida Expressway. Time: 2pm. On the way from Delhi to Greater Noida on any Saturday or Sunday, you would find tents of realtors. Staffers of realty companies sit inside these makeshift tents, and there is a huge a stretch of land behind the tents. Naturally, the staffers of realty firms wait for their prospective customers. However, what strikes any passerby is that in most such tents, either there is nobody or only a few people enquiring about the details of the projects. Given the fact that realty market is reviving after realtors slashed the cost of flats, floors and plots, the above scene looks a little confusing. The pertinent question that arises is whether customers are avoiding projects where construction work has not started at all. The jury is still out on this issue, but some experts on realty matters admit that unlike in the past the new-age customer is very smart and he/she ensures that their investment does not create headache for him/her later. Hence, they thoroughly check the background of realty firms before taking the final call. They even inspect past projects of builders, whose current projects are of interest to them. If there is even an iota of truth in the argument that prospective customers prefer to book their house in only ongoing projects, where they can see some flurry of activity, then DLF's Capital Green project in Phase-II is an exception. Booking for the project was commenced on September 22 and on the very first day, over three thousand people made their bookings with earnest money - and for 1250 flats on offer, bookings were three times the figure. This is enough to prove that realty market is improving, even if it is not on fire. However, Sunil Jindal, CEO of SVP group, has a different take on this matter. "I can tell you from my own experience that more often than not, customers invest in those properties where they find some kind of activity. If they see that work is on, then they invest. I have observed this tendency among customers in our many projects. Let alone the projects of big-time realty firms, selling flat, floor or plot on barren land is not at all an easy task. Selling dream is not possible nowadays as media has exposed the handiwork of a large number of realty firms in cornering huge sums from people after promising the moon," Jindal says. RK Arora, CMD of Supertech Limited, takes a different line and says that it is not right to say customers prefer to book their dream houses only when they see some kind of construction work in progress. "If that is the case then all the realty firms will start their projects and easily sell their products. Fact of the matter is, nobody knows which project can kick up a storm in the market and which one will fall flat." Meanwhile, Anu Gupta, director of realty advisory Century 21, says it is a huge task to read the mindset of any particular customer. Of course, some prefer to book their houses where construction work is on. That gives them a huge a sense of confidence. However, the image of some realty firms too counts. At the end of the day, one thing is absolutely clear that nobody can say with final authority as to what type of realty project or projects will make a dent in the market. information:http://www.zameen-zaidad.com/ http://www.propertycafeteria.com/main.aspx Courtesy:- ET dt:- 30-10-2009
| Project Name | DLF - The Belaire | | Name of Builder | DLF Limited | | Project Type | 4 Bedroom Apartments | | Price | As below | | Location | Sector 53, Gurgaon | | Agent | Shri Aditya Estates | | | 47082736, 9810445860 | DLF, one of India's premier developers launches their new project 'The Belaire'. located in Gurgaon, it is only a short walk away from the splendid DLF Golf Course. The project comprises of 3 and 4 bedrooms, centrally air-conditioned, ultra luxurious apartments in a five block complex.
Surrounded by sprawling greenery, Belaire nestles in the cocoon of nature. Part of the prestigious Phase V of DLF City, Belaire conforms to Zone V regulations of seismic resistance. State of the art security systems ensure the safety of residents. With unique amenities like modular kitchen, adequate parking and integrated club facilities including indoor, outdoor sports & entertainment with mini home theatre and recreational facilities. Belaire is an unique opportunity for both home and investment purpose. Sector 53, Gurgaon, walking distance from the DLF golf course, 20 minutes drive from the IGI airport, 5 to 7 minutes drive away from the DT and Metropolitan shopping mall near IIFCO Chowk, 2.5 km from Bristol Hotel.
| Project Name | Celeste Towers | | Name of Builder | Assotech Limited | | Project Type | Tall, Iconic, Luxurious apartment | | Basic Price | As below | | Location | Sector-44, Noida | | Agent | Shri Aditya Estates | | | 47082736, 9810445860 | When harmony is achieved between the personal, inner and outer spaces, the vistas of the universe become integral to one's effort, slowly and steadily rising to a flourishing crescendo. And when the music halts, the veil lifts, the smoke settles, the most refined marvels of all is revealed - Celeste. Created in celebration of the ultra privileged, Celeste Towers is the luxurious abode of the 21st century Monarchs, amidst the blossoming gardens and ecstatic fountains, sinful indulgences and latest fineries. It is right opposite the Noida Golf Course, Botanical Garden & Metro Station. Standing as the tallest landmark in the NCR, Celeste Towers will be 120 m high, 35 level storied iconic address in Noida. A towering 60 condominiums residential ambience, truly an ode to imperial living, Celeste Towers is the ultimate lap of luxury where everything is specially appointed to your majesty's refined tastes.
Diwali 2008 saw real estate developers struggling with cash flows & global slowdown & offers too were highly watered down. This year, the offers are meant more for end users, say Neha Dewan & E Jayashree Kurup It’s that time of the year when you can feel the festive buzz all around you. And real estate developers are cashing in on the festive mood. Real estate developers realised that the consumer is not interested in a drop in basic sale price but more in the total outflow that is incurred towards purchase of the properties. Ravi Saund, marketing head of Sare, a real estate-backed private equity fund developing residential properties, says there is a qualitative shift in Diwali offers across years. “The year 2007 was the height of the real estate boom and developers were riding the crest of the real estate boom. Diwali 2008 saw real estate developers struggling with cash flows and global recession and Diwali offers too were highly watered down. This year the offers are structured to be of more use to the end user.” Sare took advantage of the positive buyer sentiment to launch its Chennai and Gurgaon real estate projects. In addition, it offered a Rs 25,000 festival discount. According to Raminder Grover, CEO, Homebay Residential, Jones Lang LaSalle Meghraj (JLLM), demand this festive season has been 25% higher than it was last year, when the real estate sector was already in the grip of the slowdown. Whether this demand is on the back of varied offers or an improvement in the overall sentiment, the fact is that many real estate developers are launching special incentives to appease buyers. Supertech is offering free LCD screens to customers in some of their projects such as 34 Pavilion in Noida, Emerald Court at Expressway Noida, Czar Suits in Greater Noida and Green Village in Meerut. R K Arora, chairman & MD, Supertech, says they have received a good response from buyers. “In the first phase during the Navratras, we had offered ACs per BHK flats in some of our residential projects. The response to the previous festival offer and the current offer (AC+ LCD) has been quite welcoming. Around 70-75 units were sold for all the residential and commercial projects put together.” Delhi-based real estate developer Omaxe too has announced a special offer where customers can win an LCD TV on every on-the-spot booking of flat in their newly-launched group housing project in Bahadurgarh and Rohtak projects. Both the group housing projects offer a 3BHK houses and flats for around Rs 35 lakh. Vijay Jindal, CMD, SVP Group claims that they have seen a 35% growth in booking with the launch of their festive offers. “We are offering 10-55-35 (30+5). Booking amount is 10%, 55% will be financed by bank whose EMI will be paid by SVP. Then on possession 5% will be paid by the customer and rest 30% will be financed by the bank or financial institution. The response for our scheme has been quite encouraging.” Ditto is the case with Raheja Developers which is offering a discount of Rs 100 per sq ft till Diwali on its Raheja Shilas project in Gurgaon. Value addition was one of the reasons why the property developers chose to launch the offer. The Raheja Shilas project has been our fastest selling project so far. It is 85% booked already. Value addition is the name of the game in real estate,” feels Manoj Goyal, GM, strategic planning and group company secretary, Raheja Developers. Down South in Hyderabad, the Manjeera Group is offering a neat slash of Rs 10 lakh in the real estate pricing for a 1,000 sq ft flat so that a 2 BHK apartments at MDT Phase II costs Rs 25 lakh instead of Rs 36 lakh. The net cost to consumer is a mere Rs 2,150 per sq ft. The price includes amenities as car parking and club house membership, which were unheard of during the real estate boom times. The offer is on till Diwali 2009
AVALON GARDENS’ BHIWADI WAIT FOR YOU ‘Avalon Gardens’ project is being developed by Avalon Group. ‘Avalon Gardens’ is ideally located on main road Alwar Bye-pass Road at Bhiwadi just one km from National Highway-8. ‘Avalon Gardens’ is a premium group housing project spread over many acres. The project, comprised of 2-3 bedroom and Studio Apartments, is surrounded by existing inhabitated group housing complexes like Ashiana Gardens and Konark and many new upcoming housing projects. Other special features of the project are – Grand Entrance with splendid fountains, Near Vicinity of highly developed industrial areas of Bhiwadi, Dharuhera and Manesar, Well designed internal road network, Modern street lightings, Green play areas, Club & Community centre, swimming pool, splash pool for kids, Fitness Centre, World-class Commercial Plaza within complex, 24x7 security, 100% Power Back-up and Internal Tetecom facility. Avalon Group is one of the most successful developers in real estate of the country. Avalon Group has a vast experience of more than 25 years in construction and real estate. The core team of Avalon Group comprises of a highly qualified professional management group. The group has successfully completed many commercial, residential and industrial projects in Delhi, Chandigarh and Gurgaon. Many more projects are being developed at Bhiwadi, Faridabad, Rudrapur, Bhopal, Indore and Dehradun. The group is making use of the most advanced technologies and the latest amenities to provide an ultra modern lifestyle. The promoters of Avalon Group believe in providing affordable homes in their projects. We, Shri Aditya Estate, are one of the leading real estate consultants, established in Delhi and working successfully for more than a decade. We have developed well-embellished websites viz. www.zameen-zaidad.com, www.propertycafeteria.com with a clear concept to showcase all kinds of properties of our patrons for wider publicity of their products for sale/purchase, leasing and renting purposes. Our website – www.zameen-zaidad.com - is displaying the details of project of ‘Avalon Gardens’ Bhiwadi. Homes for sale are available in ‘Avalon Gardens’ Bhiwadi. For best and transparent deals for apartments in ‘Avalon Gardens’ project at Bhiwadi, our experienced marketing executives can be contacted at mob no 91-9650398925, 9810445860, 9911158601, 011-42470622 or email at : info@zameen-zaidad.com. Our company is on the approved list of leading banks/financial institutions for grant of home loans. We have got an experienced team to process home loan applications. For hassle-free home loans for apartments in ‘Avalon Gardens’ project at Bhiwadi, our executives can be contacted at mobile no 91-9990217028, 9810445860, 011-47082736 or email at : info@zameen-zaidad.com. For more info log on to http://www.zameen-zaidad.com or www.propertycafeteria.com
Indoor plants not only enhance the beauty of the interiors, these also have health benefits. Here’s how to maintain their freshness • When it is scorching hot outside, cool off your interiors by keeping some plants in your house. It will make the space seem fresh and green, and give you a sense of being close to nature. • Indoor plants require adequate light. Place them near windows where they can get natural light. • If a plant is indoors for many days, do not expose it to strong sunlight immediately. Keep it in the shade for a day or two. • Ensure timely rotation of plants. It is better to rotate plants before they show light deprivation symptoms. • When transplanting the plants to new pots or replanting, use fresh soil. Make sure the soil is free from pests. • While indoor plants require water like outdoor plants, it is important to keep the water level optimum. • Over-watering the plant can result in collection of water, thereby hastening the plant's death due to rotting roots. • Winters are sure to result in dehydration of plants due to lack of humidity. To keep your plants moisturized you can spray them with fine mist. • It is very necessary to identify the food requirement for your plants. Plant food containing nitrogen, phosphorous and potassium should be used to ensure proper growth of foliage, roots and flowers and fruits respectively. • Check for pests like aphids, spider mites, mealy - bugs, scale insects, trips mould and mildew. Isolate sick or infected plant until it recovers. Courtesy:- ET Realty dt:-25-09-09
A sale deed is an important document and needs careful planning if you plan to sell off your house. And, this stands true for both commercial and residential properties South Delhi-based businessmen Kukoo Tiwari has stopped going to areas like New Rajinder Nagar and Patel Nagar as these places evoke childhood memories. New Rajinder Nagar - that was the place where he was born in his ancestral home. It is a different matter that even after selling off his family house and building his own one in Lajpat Nagar, Kukoo visits the old Rajinder Nagar house in his dreams! It is no easy matter to sell your own house, and when it is a place with quite a bit of family history, it is all the more difficult to dispose it. Sunder Khatri, an eminent lawyer and somebody who deals with property matters, says if we go deep into the matter in the broader perspective of fast changing socio-economic environs, the issue can be very complicated. In the good old days of joint family system, the ancestral house always came to one's rescue to give shelter - and shelter was that entire people mainly wanted. The position changed substantially when the younger generations branched out. According to realty experts, there are several factors responsible when a family has no choice but to sell the house. "Increase in cost of plot, leading to securing a handsome price in case of sale of the old house, which can be invested in buying another property in a less costly and less congested locality in the same place or in another town, by using a portion of the sale proceeds, the balance being kept for other exigencies are some of the reasons people sell their homes," says Sunil Jindal, CEO of SVP group. Why do people sell their houses? Given the fact that Indians are much attached to their homes emotionally, it is not at all easy to sell the property. Some also says many families sell their homes as they find the possibility of building a multistory apartment, which fetch them monetary gains. Khatri cautions that before anyone sells a house, it is important to understand some key points. "You must have full knowledge of the market conditions, other deals going on in the area, price at which recent deals have been struck, good and reliable real estate agents in the locality, regulations governing sale-related matters applicable to the house in question, stamp duty and registration charges, tax implications, etc." Another realty expert, and marketing director of realty advisory Century 21 India, Sanjay Singh, says in case the house is a little old, then it is really advisable for the seller to complete some repair work. "You have to finish this job before you spread the word about your intention to sell it." Delhi-based income tax consultant, Surinder Gambhir, says the sale formalities of a house are many and vary. Some very important legal and taxation issues are documents to be executed and exchanged, absolving the seller from future tax payments, capital gains-related investments and deposits, accounting of full value received, payment of stamp duty and registration charges, etc. "If you are selling your house to a builder for raising apartments, the agreement involving cost of your site, total cost of the project, the number of apartments you will be given, and the cash you will get, need critical drafting so that you receive a satisfactory deal and the wording of the agreement protects your interests," says Gambhir. Courtesy:- ET Realty dt:- 18-09-2009
Bajaj Auto vice chairman Madhur Bajaj, who in his personal capacity owns over 350 acres of land under Emerald Acres, plans to liquidate a large portion of his land-holdings to unlock value as the real estate sector looks up after the downturn. He said he has no plans to venture into real estate development in the next decade and would prefer sell outright large parcels of land to developers or sell through plotted schemes. "We are land bankers," Bajaj, chairman of Emerald Acres, told Hindustan Times. "We don't have any expertise in construction and so we don't want to get into development at this stage. We are in the process of valuing the land price and would put it for sell soon." He said Emerald Acres has nothing to do with the Bajaj group, as he had purchased land in the past four years through his personal money. Emerald Acres owns land in the stretch between Mumbai and Pune highway and the largest piece of 124 acres is located at Lonavala, a hill station near Mumbai. The rest are in eight other locations including Murbad near Thane and Khandala, another hill station. "A township can come up at the Lonavala land and all other plots are uniquely located. We are planning to sell these so that we can buy more land maximize the value," Bajaj said. Bajaj disclosed that he had purchased the land cheap, and is not aware of their present market value. He has appointed a clutch of real estate consultants including Cushman & Wakefield to evaluate the land so that he could go public with the sale proposals. "We are moving very slowly to become an integrated real estate company," he said. "We want to learn the (real estate) business gradually, and do not have any plans to get into development in the next 10 years." He plans to buy land worth over Rs 100 cr in the near future, he added. Courtesy:- HT Business dt:- 17-09-09
Project Name Arcadia Homes Name of Builder Sumel Heights Pvt. Ltd.(SAS Group) Project Type Residential Apartment Price As below Location Sector 83 & 84, Gurgoan Agent Shri Aditya Estates
42470622, 9810445860 Payment Plan A-Down Payment(10% discount of B.S.P) At the time of Booking 10% Within 60 Days or Allotment 80%
(Whichever is later ) On offer of Possession 10% + IFMS+Stamp Duty & registration Charges+ PLC 5 % (Park Facing, Corner & 24 Metro Road) Payment Plan B-Construction Linked Payment At the time of Flat Booking Rs.1 lakh Within30 Days of booking 10% (after adjusting Rs.1 lakh) Within 60 Days of booking or 10%
Allotment (Whichever is later) Within 60 Days from Allotment 15%
or Commencement of Earth Work
at Site (Whichever is later) On completion of Foundation 10% On casting of Ground floor Roof Slab 15% On completion of super structure 15% On completion of Brick 10%
work and plaster On completion of Flooring work 10% On offer of Possession 5% + IFMS+Stamp Duty & registration Charges+PLC 5%(Park facing , Corner & 24 Metre Road)
In our endeavor to serve you with the best of our services and support you in your realty investment decision-making, we are presenting an excellent investment and residential proposition in the heart of Delhi. We are extremely positive about the investment prospects and excellent livable asset category as there is a huge shortage of high rise condominiums in an integrated township in Delhi. Delhi residential status is dominated by independent floors which have inherent problems like Parking, power, water and security. The same has created a huge gap for residential gated condominiums complexes and DLF Shivaji Marg shall aptly fill the requirement gap for the same. The basic factors that make the asset proposition attractive are as follows: - About Developer : DLF is an A category developer and has been the front runner since last 6 decades
- Prime Location : DLF Shivaji Marg offers excellent connectivity with CBD - C.P.( 5 K.M), Punjabi Bagh (2 K.M), Karol Bagh (3 K.M) and close to the major transportation routes The land is strategically located on the Shivaji Marg-Zakhira Bridge intersection and is just 5 km away from Connaught Place, the capital's central business district (CBD). At present, office space in the CBD costs more than even Rs 50,000 per sq ft in certain cases. Some residential areas in a close proximity to DLF's site include Rajouri Garden and Punjabi Bagh.
- Configuration : Launching only 1300 apartments in Phase I Majority of 3 Bed Room Apartments ranging from 1475Sq Ft to 2600 Sq Ft .26-27 Storey Building.
- Site profile : 200 acres of integrated township comprising of 130 Acres of Compulsory Greens , DLF's proposed integrated township project will be spread over 10 million sq ft of saleable area, comprising 3 mn sq ft of offices, 2 mn sq ft of shopping mall and 5 mn sq ft of residential units. Three Metro Stations in the vicinity of 75 Km to 1 km.
- Payment Plan : Expected Price Rs 7000-8000* Psf .Customer friendly Construction Linked payment plan spread over as per the construction progress.
Booking Amount : Approximately Rs 7.50 lacs Project Highlights - Located right in the heart of the city
- Well connected by road & metro network
- Next door to one of Delhi’s largest proposed office complex
- Walking distance to high end commercial spaces and offices
- Next to convenient retail outlets and leisure destinations
- Surrounded by more than 100 Acres of maintained Greens
- Spacious and open design pattern
- 100% Power backup
The DLF Group has charted it next growth steps to retain its leadership position in India. Already a major player in locations across the country, including key metro cities and urban centres, DLF, with over Six decades of experience, is focusing on strengthening its lateral and vertical business drivers. These include development of innovative business strategies, strengthening its professional resources and driving market penetration with an ear-to-the-ground approach that is adaptive to local market needs.
The group is capitalising on emerging market opportunities to deliver high-end facilities and projects to its wide base of customers by constantly upgrading its internal skills and resource capabilities. In line with its current expansion plans, the DLF Group has over 289 million sq. ft. of development across its businesses, including developed and on-going projects. Under its home, offices and shopping mall segments, DLF is credited with over 224 million sq. ft. of completed developments, while projects under construction represent over 45 million sq. ft across the three verticals.
Credit demand from consumers seemed to be back on track, especially in sectors such as auto and home loans though banks had cut down unsecured loan exposures, said KV Kamath, chairman of ICICI Bank. “So far as mortgages are concerned, I think they are back from where they were a year ago. The tension between buyer, builder, and the lender is now more or less off. Auto sector financing is also back,” Kamath said at the sidelines of a banking seminar. The chairman of the country’s largest private sector bank felt 80 per cent of the consumer loans were back, the remaining 20 per cent mostly unsecured loans had taken a back seat. “Unsecured consumer credit is certainly hit. Banks are not lending unsecured loans,” he said. “We at ICICI Bank have significantly slowed down unsecured loans since one year. We only give unsecured loans to few existing clients, which have deposits and a good track record with us,” he said while adding that ICICI Bank took the lead in slowing down unsecured loans. Though home loans have picked up, commercial real estate loan demand is still slack due to excess capacity creation. The growth of retail credit demand was not reflected in the overall credit growth numbers as a slowdown in working capital demand dragged down the overall numbers, felt Kamath. “It’s not reflected in the numbers because lack of working capital. This loan is distorting the numbers. If we keep the working capital loan aside, lending rate will be healthy by the end of the year,” he said while adding that credit growth for 2009-10 was likely to be 29 per cent except the working capital loan. Credit growth during April 1 to August 14 was only 1 per cent compared with 3.3 per cent a year ago. He said projects which were in a conception stage a few months back were being implemented now. On interest rates, he said, “To me, I do not fear interest rates to go up immediately. What the Reserve Bank of India will do if inflation rears up, we think we have to wait for one month for the monetary policy. It may react based on the what is the type of inflation and whether monetary policy action will help or not,” he said Courtesy:- BS dt:- 08-09-2009
Property developers plan more launches in the sub-Rs 20 lakh category of homes, after yesterday’s Budget concession.The finance minister had said there would be an interest subsidy of 1 per cent for one year on loans up to Rs 10 lakh for properties worth less than Rs 20 lakh. This is expected to boost this housing segment. Developers such as Unitech, Omaxe, Puravankara, Lodha Developers and Ansal had already moved into the sub-Rs 20 lakh category, as the economic downturn, coupled with fear of job losses and salary cuts, slowed sales of premium housing projects, lowering their cash flows. ''We will try to cater to the whole demand that would arise after the government's decision. Our Uni Homes project will benefit from this project," said R Nagaraju, general manager, corporate planning, Unitech, the country's second largest developer. Unitech has recently launched a new brand, Uni Homes, for low income projects in the Rs 10-30 lakh range and is planning to launch projects in seven cities, including Noida, Greater Noida, Chennai, Bangalore and Kolkata. The first such project would be announced next week. Ravi Ramu, director of Bangalore-based Puravankara, which has set up Provident Housing to launch affordable housing projects, said the extra savings made by home loan borrowers (due to the Budget decision) is expected to drive sales of its housing projects. Provident is planning to launch a few thousand homes in the Rs 14.9-18.9 lakh category this week in Bangalore. The company is planning to launch around 12 million sq ft of projects under this category this fiscal in many parts of the country, he said. The Delhi-based Raheja Developers and Mumbai-based Sunil Mantri Realty say they’re planning to launch 20,000 homes and 10,000 homes, respectively, in the sub-Rs 20 lakh categry in the next one year. The FM's announcement is expected to save Rs 60 for every Rs 1 lakh on a home loan borrowing per month. "The announcement has come in at the right time, when sentiment in the realty market is turning positive and home buyers and investors are returning. With developers moving to affordable housing from premium housing and government announcing incentives, the momentum is building. I feel it is a good opportunity for developers to focus on this segment now,'' said Sanjay Dutt, chief executive, business, at property consultancy Jones Lang LaSalle Meghraj. However, developers are not enthused by the FM's announcement to give tax holiday for developers under section 80 1B (10) of the IT Act on profits from projects approved between April 1, 2007, and March 31, 2008. "Tax holiday for 2007-08 is historical. We cannot take the benefits from this announcement as we have sold our projects. Otherwise, we would have tailormade our projects and passed on the benefits to buyers,'' Ramu of Puravankara said Courtesy: 4th Aug 2009
Amidst market buzz that DLF is scouting for a buyer for its prime land on the posh Commander-in-Chief road in Chennai, the realty major has sought to set the record straight stating that it is awaiting approvals to promote a high-end luxury residential project on the land against the earlier plan to build a mall. “We have completed the designing process. We are awaiting approvals to announce the launch of our residential project during October-November this year,” DLF Southern Homes director K K Raman told ET. Earlier, the Gurgaon-based realty company had approached CMDA to permit re-classification. — Hemamalini Venkatraman Courtesy:- ET dt:- 18-07-09
Max City Developers Pvt. Ltd., is promoted and developed by Sethi group and Jhankar group of hotels. It will be a destination for the exclusive few who value perfection above everything else. Max City is located within an integrated township spread over 100 acres of Ramprastha Greens in the very heart of Vaishali. Courtesy:- TOI dt:- 11-07-09
Felicity Estates Pvt. Ltd a part of the SRA group (S.R. Ashok and Associates Pvt. Ltd.), are in construction business all over India for the last 32 years. Primetech Infrastructures and Developers Pvt. Ltd. and Shree Govind Realtech Pvt. Ltd. are the names synonymous with leadership, trust, quality and reliability. One of its prime projects, Felicity Meadows is 250 acres of Integrated township on NH-8, Jaipur-Ajmer Expressway. The Township is approximately ten minutes drive from Mahindra SEZ. An integrated township planned over a wide expanse with farm houses, plots, flats, villas and commercials with all facilities like school, park, grocery store, club houses, golf course, party lawn, banquet hall Courtesy:- TOI dt:- 11-07-09
Increased Plan allocation for city & core push likely to boost real estate prices The Real estate market in the City Beautiful is witnessing a revival, at least in the commercial space. Chandigarh, known to be one of the top test markets for retailers across India, had seen rentals in prime retail area — Sector 17 — in the heart of the city, fall by more than 60%. Rentals dropped from Rs 800 per sq ft a year back to around Rs 250-350 per sq ft currently. The global slowdown had an equal impact on Chandigarh as it had in other metros in the country in terms of correction in rentals. Large retailers such as Cantabil, Provogue, Annie Smith, Ethnic India have vacated showrooms as business was becoming unviable. Traders Association of Chandigarh general secretary JPS Kalra told ET: “More than 15 brands are about to shift from the piazza area here.” But smaller players expanded their retail footprint in locations that were earlier being rented out a very high prices. Venus Garments, makers of the UV&W apparel brand, has signed up for a 1,000 sq ft (super area) property at Centre Mall in the southern side of Chandigarh on 15% revenue sharing basis. But real estate consultants Jones Lang LaSalle Meghraj (JLLM) says the present scenario looks more promising. “Fence-sitters are now looking at Sector 17 again, but they are cautious. The priority is viability and not competition like it was around a year or two back when companies were pushing themselves to expand,” says JLLM regional director Manoj Kashyap. Ground floor rates in Sector 17 could touch a maximum of Rs 350 per sq ft and the first floor rates get lowered to Rs 300 per sq ft. Another prime area — Sector 35 — has a mix of space for food retailers and prices are only marginally lower than Sector 17. The likes of KFC, McDonalds, CCD and Barista have taken up large spaces in this sector where rentals have seen a slight drop. But there have been exits as well such as Costa Coffee which closed down its “unviable” outlet here. Retail rentals in the southern sectors, which have smaller showroom sizes, have dropped from Rs 60-65 per sq ft that was being offered a year or two back to Rs 45-50 per sq ft. This non-prime area, comprising sectors beyond Sector 35, has reasonable rentals but the small size of showrooms and the city administration not allowing conjoined showrooms has thwarted large retailers to set up shop. Demand for office space is, however, stagnant and price per sq ft has also come down from Rs 75-80 to Rs 35-40 in Sector 17. Office space in Sector 34, for which the government had ambitious plans of making into a financial hub, has also seen a correction of 15-20%. Prices that were earlier touching Rs 45-50 per sq ft are now in the range of Rs 25-30 per sq ft. The industrial park at the eastern end of the city, land use guidelines for which were changed from industrial to commercial by the government, has made new commercial space available. Asking rates for it are going at Rs 45-50 per sq ft but demand is still not giving sales the much required stimulus. The highlight for Chandigarh has and perhaps will always be its residential property, prices for which range between Rs 2.5 crore per kanal (4500 sq ft) to Rs 3 cr, across the city. The northern Sectors of 7, 8, 9, 10 and 11 that have bungalows and larger houses are on the higher side of the price spectrum while the southern sectors belong to the lower end, due to a large concentration of flats and apartments. Sectors such as 15, 16, 18 and 19 fall in the midsegment where prices can touch Rs 2.75 cr per kanal. The Union Budget announced an increase in Plan allocation of the city, which would be used for infrastructure projects such as the proposed Metro. This could perhaps give the required push to real estate in the city, especially on the retail front. Courtesy:- ET dt:- 12-07-09
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