August 2010

Oberoi will add 2 million square feet via redevelopment project

by Paul Joseph August 25, 2010 Uncategorized

Oberoi Realty is all set to sign a redevelopment project in the western suburbs of Mumbai. Though the acquisition cost is not available, the project would add 2 million square feet to Oberoi’s portfolio, according to a report published in DNA. “The acquisition would take another three months,” said Vikas Oberoi, managing director, Oberoi Realty. Meanwhile, the company is coming up with an initial public offering (IPO) in the second half of September and plans to file the red herring prospectus this week. It plans to raise Rs 1,000-1,500 crore. The company management and merchant bankers for the IPO would start deal roadshows early next month. Also, the company is in an advanced stage of negotiations with international hotel brands for its upcoming 5-star hotel at Worli. The company has also bought a beach hotel in Goa for about Rs 65 crore which, sources said, will be managed under Indian luxury hotelier PRS Oberoi’s Trident brand. The 2.1 million sq ft development will include a residential project which would be more than 300 metres tall, two grade-A commercial office spaces and the hotel property near the old passport office. Oberoi said, “We are not in a hurry to launch the project, we will launch it by the end of the year. We have floated a tender for an international contractor to come on board equipped with the right technology. Once the contractor is finalised we will start the project.” Oberoi Realty is also eyeing developments at Bangalore, Pune, Hyderabad and Delhi including Gurgaon and Noida, where it is betting big. Oberoi said, “The northern market is the only belt where there is availability of land, and after the Mumbai market it is the only one which has started moving up price-wise.” Oberoi Realty has developed 9.8 lakh square feet of saleable area of commercial projects including retail under the lease model. At present, it has eight ongoing and 19 planned projects with a total saleable area of 21 million sq ft which will be developed in the next 5-6 years. Source:http://www.realtyplusmag.com/rpnewsletter/fullstory.asp?news_id=9891&cat_id=1 Filed under: Bangalore , Builders/ Developers , Delhi , Hyderabad , Mumbai , New projects , Noida , Pune Tagged: Bangalore , Delhi , Gurgaon , Hyderabad , Mumbai , Noida , Oberoi Realty , pune , Redevelopment Project

Tagged as: acquisition, bangalore, gurgaon, hotel, indian, mumbai, noida, project

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Ambuja to Build City Center Mall at Siliguri

by Paul Joseph August 25, 2010 Uncategorized

Buoyant over the success of its multi-utility commercial property projects City Centre-I (at Salt Lake) and City Centre-II (at Rajarhat), Ambuja Realty has now come up with its third City Centre, this time round at Siliguri, on the foothills of the picturesque of Darjeeling district. More importantly, it has lined up three more City Centres — all beyond Kolkata and in fact two of them are outside West Bengal. Harshavardhan Neotia, chairman, Ambuja Realty, said that while City Centre at Siliguri has come up with a capital outlay of Rs 280 crore, the three other City Centres at Haldia, Raipur and Patna would involve an investment of close to Rs 550 crore. Patna City Centre will be ready by the end of the current year, Raipur City Centre will be ready by December 2011 and City Centre Haldia will be up and running by 2012, he said. Ambuja Realty has already teamed up with leading chains and leading brands like Shoppers Stop, Spencer’s, Big Cinemas, Max Lifestyle, KFC, Hangout — the Food Court, Lilliput World, Planet Fashion, Subway, Crossword, Timezone, Adidas, Aawrun, Bata, Biba, Café Coffe Day, Gini & Jony, Converse, Golden Tips, Hoffmen, Jockey, John Players, Levi’s, L’oreal, Metro, Music World, Moustache, Nike, Peter England, Planet M, Prapti, Samsonite, Tea Junction, Success, Titan, Turtle, Wills Lifestyle, to mention a few. And Neotia’s enthusiasm stems from this. “Some of them are coming for the first time while others are already there with the existing City Centres. Siliguri, by and large untapped, has tremendous potential as a retail hub. Siliguri is not just a major trading zone; it is also a gateway to the hills of Darjeeling, Sikkim and the Northeast. We are tapping all by offering this new plush retail platform,” he said. Located in Uttarayon at the city’s Darjeeling Mor, City Centre Siliguri is spread on a sprawling 8 lakh sq ft are, incidentally is the biggest of all the City Centres (existing and upcoming ones). City Centre Salt Lake and City Centre New Town are spread across 3 lakh sq ft and 3.52 lakh sq ft, respectively. “In City Centre Siliguri, we have tried to create an offering that appeals to every aspiration and need of the residents in and around Siliguri. We sincerely hope that City Centre Siliguri with its entire bouquet of offering makes a positive difference to the lives of residents of Siliguri and beyond. We hope it will truly become a family destination,” said Neotia. The developers are in fact extremely bullish about the City Centre-Siliguri and Neotia hoped that it would generate overall business turnover of over Rs 300 crore in the first year itself. The other advantage is that it is coming up at the entrance of ‘Uttorayan’, the 400-acre modern and integrated township developed by the group. City Centre Siliguri, the first phase of which will be thrown open in December, this year, will house departmental stores, a 4-screen cineplex with a seating capacity of 1,000, food courts, banqueting facilities, fine dining restaurants, gaming zone, kiosks, business centre with state-of-the-art office spaces and over 200 branded and unbranded shops. “It will also boast of 75,000 sq ft of atrium lobby and an open air entertainment area called ‘Celebration Square’, which promises to be a perfect venue for get-togethers and hangouts. It will also be pulsating with regular events and promotions, designed and executed by our in-house dedicated division and is sure to cater to a large footfall,” said Neotia. Spread over 10.5 acres, City Centre Siliguri will comprise the mall, office space and a five-star hotel. “While a large part of the mall will be opened in December, it will take another 12 months for the rest of the mall, the hotel and the office space to be fully functional,” said Neotia. The new City Centre will be architecturally similar to the Salt Lake and New Town ones, which means it will also house AC and non-AC spaces, seamless connectivity and a hangout zone called Celebration Square inspired by the popular kund area. With an investment of Rs 200 crore, Ambuja Realty is eyeing an annual turnover of more than Rs 300 crore from City Centre Siliguri. The mall is likely to bring a number of international and national brands to the parched Siliguri shopper. With Shoppers Stop to Subway, KFC to Big Cinemas set to open doors at City Centre Siliguri, it is positioning itself as the one-stop retail and entertainment destination. Ambuja Realty will next have City Centre malls at Haldia, Raipur and Patna.

Tagged as: city, hotel, kolkata, office, real estate india, real estate trends

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Wal-Mart and Carrefour Ask Govt to Allow 51% Foreign Investment in Multi-Brand Retail

by Paul Joseph August 25, 2010 Uncategorized

Two of the world’s top retailers, Wal-Mart and Carrefour, vying for a cut in India’s organized retail pie, have asked the government to allow up to 51 per cent foreign investment in multi-brand retail. India allows 51 per cent foreign direct investment (FDI) in single-brand retail and 100 per cent FDI in cash-and-carry or wholesale trading. Wal-Mart has partnered Bharti Group to operate cash-and-carry wholesale stores and intends to continue the tie-up for multi-brand retailing. Bharti Wal-Mart believes that FDI in multi-brand retail should be permitted without any restrictions. They believe it will create conditions for greater flow of investments to the back-end with related benefits for farmers, small businesses and consumers. Carrefour, which is also drawing up plans to roll out wholesale formats, also supports a more relaxed FDI policy. It feels any cap or restrictions on FDI in this sector may result in potential loss of opportunities of inclusive growth for the retail sector and that the cap should be such that a foreign retailer is entitled to make a minimum of 51 per cent investment with rights to manage the company and bring about efficiency in operations and induct the best industry practices. Given the state of the supply chain in India, much of the investment in the back-end would be up-front, particularly in the initial years. A fixed percentage of investment on the back-end could therefore, leads to a misallocation of resources and takes away from where they are most needed to create efficient supply chains. Any stipulation for minimum investment of any fixed percentage in the back-end infrastructure, beyond what the foreign retailers are planning to do, would put undue and additional pressure on the profitability margin expected from retail operations and negatively influence the viability of the operations.

Tagged as: government, india, operations, property prices, real estate

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Prestige Group to Come up with Premium Residential Project in Bangalore

by Paul Joseph August 25, 2010 Uncategorized

The Prestige Group has launched a premium residential project — Prestige Silver Oak — in Whitefield, Bangalore. Spread across 17 acres, the project comprises 146 independent villas and 32 low-rise apartments and is set amidst scenic landscapes. According to the company, the project is all set to give a new meaning to luxurious living in the city and poised to become the next premium luxury destination in the Bangalore city. Irfan Razack, chairman and managing director of Prestige Group, said, “The Prestige Group has always attempted to create landmarks in Bangalore through our commitment to international quality and design. Over the years, we have created a niche for ourselves in the luxury residences category and Prestige Silver Oak promises to be yet another milestone for the company in this segment. The development reflects an introduction to a popular West Asia type architecture with spatial designs which combines fantasy with the practicality of modern day lifestyle.” The project promises a unique blend of opulence with signature qualities and is set to become one of the company’s landmark projects, Prestige said in a statement. The Independent bungalows, ranging from 3,606 sq ft to 5,091 sq ft are double-storied edifices ensconced in their own private gardens. Eight different models of these elegant villas are available, each including four palatial bedrooms. The apartments spread across four floors, with areas ranging between 1,851 sq ft and 2,411 sq ft have been designed on an outward looking plan to maximise the views to the surrounding serene greenery. Keeping in mind the recreational needs of their residents, Prestige Silver Oak also provides an exclusive clubhouse, which comes with all the required amenities that is a necessity for modern day premium lifestyle. The development has been designed to accommodate only 178 units in order to provide a sylvan haven to its residents. The land coverage is only 30 per cent to provide extensive landscape areas, Prestige said.

Tagged as: city, luxury, over-the-years, real estate

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Globevill to Develop Largest Township Project in Chennai

by Paul Joseph August 25, 2010 Uncategorized

ETA Star, an offshoot of ETA Ascon Group, in association with the state-owned Tidco, has launched — Globevill, which is said to be the largest integrated township development in Tamil Nadu. To come up on the Chennai-Bangalore National Highway and located close to Sriperumbudur, the hottest industrial hub around Chennai, Globevill is spread over 350 acres. Besides, residential and commercial space, the Globevill township plans to offer a hospital, restaurants, a business hotel, retail and recreational spaces as well as a full fledged school. ETA has tied up with Ryan International School to house the school within the spatce of the project. ETA plans to develop the Globevill project across phases, extending over five years The first phase of development, involving around 82 acres of land, will offer nearly 2,000 residential apartment units, ranging from 1 BHK, 2 BHK and 3 BHK units to even villas. The residential apartments will come in the range of 600-1,200 sq ft. “The first phase development will be completed in about 18-24 months. We have now started taking bookings for the first phase and we have announced an inaugural price of Rs 2,200 per sq ft for the residential apartments,” Ahmed Shakir, managing director, ETA Star, said. According to him, Globevill, situated very close to the Sipcot Industrial Estate that houses the manufacturing units of some of the leading multinational companies, will target the over three lakh employees working in the region. “Once completed, Globevill is bound to become a landmark in construction and design standards for the industry and is surely going to start a new trend of developing more integrated townships in Tamil Nadu,” says Fayaz Ahmed, director, ETA Star. “Our township will be setting a new trend in the lifestyle patterns for people in and around Chennai,” he added. ETA Star, which hit the limelight among the property developers in Chennai with the launch of its Citi Centre Mall, has since then moved on to develop residential projects. While it has already completed one project near Poonamallee, another project is under development on OMR, Chennai’s IT Corridor.

Tagged as: chennai, international, lifestyle, real estate, school

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Indospace Plans to Spend Rs 500 cr in Developing an Integrated Logistics Park

by Paul Joseph August 25, 2010 Uncategorized

Indospace Logistics Fund, part of the Sameer Sain-promoted Everstone Capital that invests in logistics and industrial real estate, plans to spend around `500 crore in developing an integrated logistics park in the National Capital Region, according to people familiar with the development. Indospace Logistics is currently talking to FWS, a Delhi-based logistics developer, to build the facility which will have large warehouses which can be used by retail and consumer goods companies. The proposed implementation of the Goods and Services Tax, or GST, is expected to create the need for large warehouses that will replace the current practice of smaller stockyards in multiple states. This is done to avoid duplication of taxes but will not be required once the GST regime is in place. If the logistics plan fructifies, this will be one of Everstone Capital’s largest investments after being spun off from Kishore Biyani’s Future Capital earlier this year. Both Everstone and FWS declined to comment for this story. DTZ, a real estate consultancy, is advising FWS on the deal. “Indospace has been following a model of buying land and developing industrial real estate projects,” said the people cited earlier. “This current deal would be part of that focus,” they added. Everstone Capital was formed after Sameer Sain parted ways with Kishore Biyani, the owner of Pantaloon, in January 2010. Mr Sain formed Everstone Capital along with Atul Kapur, who had worked along with him at Goldman Sachs. Everstone’s Indospace is a $250-million fund that also has a joint venture with Realterm Global, a US-based industrial real estate investment firm. The fund already has projects underway in Pune and Chennai where it is building warehouses, distribution and storage spaces for use by automotive companies such as Volkswagen, Tata Motors, Mahindra, Daimler and Bosch. FWS is a logistics developer, promoted by Delhi-based businessman Vikas Yadav, that has already leased about 1.5 million square feet of logistics space across the NCR. Its clients for warehouses include companies such as P&G, DHL and the Future Group. The need for large warehouses is likely to rise once the government’s proposed GST is fully implemented, as the new legislation will have a uniform tax rate. Companies now have to deal with a central sales tax and a state sales tax, which leads to a higher levy as firms with a manufacturing presence in one state have to resort to accounting jugglery to avoid paying dual taxes for sale in a different state. The GST will encourage companies to sign supply and distribution management contracts with logistics companies. Companies have started to negotiate with large logistics companies to manage their costs. While the government has targeted to introduce GST by April 2011, the schedule is likely to get delayed by a year due to lack of consensus among all states.

Tagged as: current, delhi, development, national, property prices, real estate, real estate developers, real estate india

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Govt to Allow Foreigners Set up LLP in Sectors where 100% FDI is Allowed

by Paul Joseph August 25, 2010 Uncategorized

The government may soon allow foreigners to set up limited liability partnerships in sectors where 100% foreign investment is allowed, taking a decisive step after much flip-flop over funding guidelines for this form of business organisation, favoured globally for its flexibility. The department of industrial policy and promotion (DIPP), the nodal agency for foreign investment policy, has written to the finance ministry giving the broad contours of the proposed foreign investment framework for LLPs. It has suggested that foreign investment be allowed in LLPs with prior approval. “This will give foreign investors flexibility to operate in a simpler environment with minimal compliances and yet be tax efficient,” said Akash Gupt, executive director of consulting firm PwC. LLPs share many of its features with normal partnerships, but partners will have reduced personal responsibility for its business debts as the partnership itself is responsible for such liabilities. A discussion paper is expected to be put up in public domain soon, said a government official privy to the discussions. This would be third in the series of discussion papers released by the DIPP. The earlier ones were on foreign investment in defence production and multi-brand retail. DIPP had, after initial discussions earlier this year, taken a view against opening up this form of business organisation to foreigners. During those discussions, the Reserve Bank of India had favoured FDI up to 49% in LLPs in select sectors, while the finance ministry was in favour of a more liberal regime, but with prior approval. As per the policy proposed by the DIPP, foreigners will not be allowed to set up LLPs in sectors such as real estate where conditions such as minimum capitalisation and lock-in period are applicable. It also bars foreigners in sectors where FDI is prohibited or restricted with caps on investment. Indian companies having foreign investments will not be eligible to make investments in LLPs. Similarly, LLPs having foreign investment will not be allowed to make downstream investments or raise overseas debt, said a senior government official. LLPs incorporate the features of companies and partnerships. The liability of partners is limited to the extent of their stakes in the entity. It also has various advantages over present corporate structures. Unlike private limited companies where number of shareholders is limited to 50, an LLP can have unlimited number of partners. Compliances relating to meetings and maintenance of statuary records are not applicable for LLPs. Currently, FDI is not permitted in partnerships firms, but is allowed in companies depending on sectoral cap. FDI is allowed up to 100% in a number of sectors such as manufacturing through the automatic route. Sole proprietorship firms can get non-resident investment on a non-repatriable basis. Globally, 100% foreign investment is permitted in LLPs though they are not allowed to undertake certain sectoral activities in some countries.

Tagged as: delhi, india, property prices, real estate, real estate companies, real estate developers, real estate india

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Special home loan offers from Syndicate Bank

by Paul Joseph August 24, 2010 Uncategorized

Syndicate Bank has come out with special offers in interest rates and service charges on fresh home loans. For loans up to Rs 20 lakh, the bank will charge a base rate of 8.25 per cent for the first two years, 8.75 per cent from the third year to the fifth year and 9 per cent from the sixth year onwards, subject to a maximum of 10 per cent, said a press release from the bank. However, for loans above Rs 20 lakh, the special rate would be 8.5 per cent for the first two years, 9 per cent from the third year to the fifth year, and 9.5 per cent from the sixth year onwards, subject to a maximum of 10.5 per cent. The bank would also offer special discounts in processing and documentation charges. For home loan borrowers, service charges would be Rs 900 a lakh with a cap of Rs 15,000 for loans up to Rs 50 lakh and for loans above Rs 50 lakh, a flat Rs 25,000 would be charged. The offer is valid up to March 31, 2011, said the release. Source: http://www.realtyplusmag.com/rpnewsletter/fullstory.asp?news_id=9876&cat_id=2 Filed under: Home loans Tagged: Home loan interest rates , Syndicate Bank

Tagged as: home-loans, interest-rates, per-cent

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Metro Pushes up values in Gurgaon

by Paul Joseph August 24, 2010 Uncategorized

Gurgaon The Gurgaon real estate market has witnessed rising values to the tune of almost 30% since the downturn of 2008. This was at a time when it was raining affordable properties in other parts of the NCR. So what makes Gurgaon so exclusive and preferred? Ravi Saund, head of business development and marketing and sales of CHD Developers, which is coming up with a development along the Sohna Road, says: “Gurgaon has been a preferred destination for a whole lot of people who are employed in the city or even beyond. It has certain unique characteristics. For instance, there are super-premium luxury apartments coming up along the Golf Course Road where values are rising and demand is present. However, for those seeking more affordable options, Sohna Road offers options for the upper-middle class and the lower end of the luxury housing.” CHD has focused on this segment and created a residential housing complex that is ‘master-planned’ meticulously. There is even a transport consultant who has planned the traffic to be underground so that the serenity of the development is maintained. “Gurgaon is an independent town where manager and CEOs live side by side enjoying the same common facilities. The CEO staying in an “Aralias” and a manager staying in the cooperative group housing societies in Sector 56, have the same hospital, hotel, educational and recreational facilities. The luxuries of life are available to all, the average level of education is high and there is a commonality of thought. You don’t find people fighting on the streets, there are more people joining the queue in malls, etc, and the lifestyle quality is uniform.” This is probably the biggest attribute of Gurgaon, a certain class of living because of the very nature of the city, which grew out a premium commercial real estate boom. For Aditya Bansal of the ABW Group, Gurgaon was a chance to engage in integrated development after years of making their mark as developers of small, luxury properties in South Delhi. With a master’s in real estate and economics under his belt from the London School of Economics, Bansal maintains that the same standards of quality living have been maintained in the Manesar township. He says: “We believe that with the revival of real estate sector, the sale of residential projects in the NCR region have gone up and are growing with time. The newly launched projects are also receiving overwhelming response from end users. This fast recovery of Indian real estate in the past few months, rising interest of customer and launch of state-of-art projects in this area is a testament of increasing confidence of customers in the NCR residential segment.” This is just the point. With the exit of investors from the market since the downturn, all projects are attracting end users who want speed of construction, occupancy rates and social infrastructure to match. Features like green buildings are acceptable if they also result in long-term savings as well. As a result, there is greater offtake of projects that promise timely delivery and construction-linked payments. The advent of the Metro has definitely given a boost to the growth of Gurgaon’s real estate. Saund says: “Places where the Metro has been announced have already seen a jump in values. Also the enhancement of the sector road infrastructure has been another boost. With the Metro walking the talk, citizens are more inclined to believe the commitment of the authorities in keeping to the sector roads schedule as well.” The only problem with the area is the growing traffic congestion with increased occupancy. A few initiatives in public transport have begun in places such as the Netaji Subhash Marg and along the MG road. But these are still few and far between and have not impacted the use of private vehicles significantly. The extension of the Metro line from Gurgaon to Central Secretariat shortly is expected to provide an added impetus to the development of the city and the prospects of residential property. Source: http://content.magicbricks.com/metro-pushes-up-values-in-gurgaon?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+india-real-estate+%28Magicbricks+Property+Pulse%29 Filed under: Builders/ Developers , Delhi , New projects Tagged: CHD Developers , Metro , Real Estate in Gurgaon

Tagged as: city, development, gurgaon, indian, london, real estate, sector

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Dharuhera – Riding the affordable housing wave

by Paul Joseph August 24, 2010 Uncategorized

Dharuhera has emerged as a promising destination as far as real estate in and around the National Capital Region (NCR) is concerned. As Gurgaon reaches a saturation point in terms of the population it can accommodate, development of infrastructure, residential and commercial real estate, in the adjoining locations are being sought by state authorities as well as private developers to meet the seemingly insatiable need for housing here. Further, development of transport links like the National Highway 8 (NH  have ensured a significant reduction in travel time, so much so that executives working in Gurgaon may reside at Dharuhera and not lose sleep over the commute to their workplace. Dharuhera is situated in the Rewari district of Haryana and is fast emerging as an industrial hub of Haryana. Hero Honda, Lumax and SAB Miller are among the major industries located here. The level of infrastructural and industrial development being higher than most neighbouring areas, a number of Indian corporates and MNCs are making a beeline for Dharuhera. Commercial expansion will naturally entail real estate development – to provide accommodation for those employed in these industries. Moreover, the demand would be for affordable housing options priced under Rs 50 lakh. This is being cashed in by a number of developers like Vipul Group, Bestech and Parsvnath who have launched affordable housing projects in Dharuhera. The Vipul Group’s “Vipul Gardens” is an affordable group-housing project strategically located on NH 8. This project was launched in early 2010 and is expected to take approximately 30 months to complete. It offers 1, 2 and 3 bedroom apartments in a price range of Rs 15-35 lakh. According to Dipankar Chaudhury, marketing manager of the Vipul Group, “The response so far has been decent considering that the project is still in its early stages and gives reason to be optimistic about the future.” The target end users for Vipul Gardens comprise people employed in the neighbouring industrial areas of Bhiwadi and Rewari, in addition to those working in Dharuhera itself. Moreover, the commercial hub of Industrial Model Township (IMT) Manesar, 24km away, is expected to provide ample clientele for this project. The Parsvnath Group launched “Parsvnath City”, an integrated township in Dharuhera, comprising three residential projects – Parsvnath Pleasant, Parsvnath Elite Villas and Parsvnath Elite Floors – all expected to be completed within the next two years. While all three projects have residential options available at sub-Rs 50 lakh range, Elite Floors is being tagged as the flagship affordable housing project offering builder floor apartments within a price range of Rs 17-23 lakh. These are G+2 storey apartments covering 240, 300 and 400 square yards. Parsvnath Pleasant and Elite Villas are airconditioned luxury housing options priced at Rs 40 lakh and above. According to Sachin Chopra, senior marketing manager of Parsvnath Developers, “The response has been fairly good and there is a significant demand from end users, especially for Elite Floors.” He further says: “People currently residing in Gurgaon as well as other localities in the Delhi NCR have expressed interest in this project due to the low price range and the advertised facilities within the integrated township of Parsvnath City. Good connectivity – the site is strategically located on a national highway – is an added advantage. Parsvnath’s projects break the clutter by offering low-rise structures and luxurious facilities at very affordable price ranges.” Bestech City is an integrated township launched by Bestech Developers at Dharuhera on NH 8. Its major residential project is “Bestech Park View Delight”, which comprises 2, 2+study and 3 bedroom multistorey apartments with a starting price range of Rs 18-22 lakh. In addition, Bestech City offers within the township facilities like a nursery and primary school, nursing home, among other. According to Kumar Shashi, marketing manager of Bestech Group: “The response has been very good and only 20-30% of the residential options are still available for sale. The clientele is varied and comprises people from Gurgaon, other regions of the Delhi NCR, as well as executives working in the neighbouring industrial areas.” He adds that Bestech’s reputation with regard to timely delivery of apartments is what makes it stand apart from the rest. Park View Delight is expected to be completed in the next year and a half. Residential development in Dharuhera is being driven by the affordable housing bandwagon. While distance from the more developed regions of Delhi and Gurgaon may work against it, the availability of low-cost housing options is expected to bring in the masses due to the rapidly rising property values in Delhi and Gurgaon. The proposed widening and expansion of the NH 8 bodes well for the upcoming residential projects in this locality as it will further cut travel time. Thus, Dharuhera is a locality to watch out for in the next two years, by when most of the current projects are expected to be complete. Source: http://content.magicbricks.com/dharuhera-riding-the-affordable-housing-wave?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+india-real-estate+%28Magicbricks+Property+Pulse%29 Filed under: Builders/ Developers , Delhi , New projects Tagged: Bestech Developers , Dharuhera , Gurgaon , Haryana , Parsvnath Developers , Vipul Group

Tagged as: delhi, gurgaon, haryana, project

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