New Projects Delayed, Buyers Fear Price Escalation

As against the expected delivery time, a good number of new projects face delay of completion. Most of the projects have not yet completed even half of the development –work. Here is a piece of bad news for the prospective buyers. They will have to wait longer for shifting their addresses to new homes. Property experts report that in most of the cities, delivery of new projects across the country to be delayed. Going against the expected delivery time, in most of the cities, the developers have reached either halfway or less. Though this is visible in all the top cities, it is more visible in Gurgaon, Noida and Mumbai . In the first quarter of this year, only 360 flats were completed in Gurgaon . This means that the city will reach the expected delivery, by the end of this year, 38684 housing units. If it were to be met, the developers had to complete over 3000 units per month. By completing mere 360 units, the developers could complete only less than ten percent of the expected task. Noida too will face delayed delivery of new projects. Only 160 units are delivered here during the same period, while the expected delivery by the year-end is 49540 units. Mumbai is another city where the supply shortage is going to be even more severe. As the builders have completed only 1378 units so far, there is no chance for the city to reach the target of 22870 units. Chennai that delivered around 6024 units may be an only exception to this list. Though the city may not complete the predicted target of 51592 units this year, the city may reach somewhere around the target. The delay of new projects is cautiously watched by the buyers. They fear that the prices will rise if their booked flats are not getting ready soon. The builders too agree that the delay causes price escalation.

As against the expected delivery time, a good number of new projects face delay of completion. Most of the projects have not yet completed even half of the development –work. Here is a piece of bad news for the prospective buyers. They will have to wait longer for shifting their addresses to new homes. Property experts report that in most of the cities, delivery of new projects across the country to be delayed. Going against the expected delivery time, in most of the cities, the developers have reached either halfway or less. Though this is visible in all the top cities, it is more visible in Gurgaon, Noida and Mumbai . In the first quarter of this year, only 360 flats were completed in Gurgaon . This means that the city will reach the expected delivery, by the end of this year, 38684 housing units. If it were to be met, the developers had to complete over 3000 units per month. By completing mere 360 units, the developers could complete only less than ten percent of the expected task. Noida too will face delayed delivery of new projects. Only 160 units are delivered here during the same period, while the expected delivery by the year-end is 49540 units. Mumbai is another city where the supply shortage is going to be even more severe. As the builders have completed only 1378 units so far, there is no chance for the city to reach the target of 22870 units. Chennai that delivered around 6024 units may be an only exception to this list. Though the city may not complete the predicted target of 51592 units this year, the city may reach somewhere around the target. The delay of new projects is cautiously watched by the buyers. They fear that the prices will rise if their booked flats are not getting ready soon. The builders too agree that the delay causes price escalation.

[via India Real Estate Monitor]

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Indian Realty Sector may gain due to Gudi Padwa.

Gudi Padwa, a festival which earmarks new beginnings and new hopes to everybody’s life. Hence many builders announce their new projects at this point of time taking into consideration the sentiments of the local market. The festival is widely celebrated in the state of Maharashtra and as for common people in India, a home is a priced possession and they do not sell and buy residential properties often. They wait for an auspicious date to such transactions. Keeping this in mind, realtors at Pune has organized Sakal Pune Property Show named as Sakal Gudi Padwa Grihotsav 2012. Across the just concluded quarter, residential prices in the outskirts of Mumbai have seen a positive slide. With the Union Budget 2012 giving due consideration to the loans of affordable housing projects coupled with the positive feeling related to the festival, buyers and sellers expect to strike a great deal during this year’s Gudi Padwa. The buyers mainly constitute the New Urban Family Sector. Moreover, during this festive season, realtors juxtapose the properties with attractive discounts and freebies. But with these factors only, nobody can lure customers today. They are more oriented towards the location of the property, the pricing and the quality of construction. The recent years were not so good for real estate sector. The ever rising inflation rates and interest rates kept the buyers at the bay. But the recent decision of the RBI to cut CRR rates gives little bit of hope to the sector. However real estate experts suggest that the sentiments related to a festival only cannot trigger the sector. But it is decisive in getting the real estate market on the right track after a gloom. Moreover, traditionally Gudi Padwa means birth of bhoomi and bhoomi is everybody’s shelter. We can hope and look forward for bright days for real estate sector ahead with this auspicious festival.

Gudi Padwa, a festival which earmarks new beginnings and new hopes to everybody’s life. Hence many builders announce their new projects at this point of time taking into consideration the sentiments of the local market. The festival is widely celebrated in the state of Maharashtra and as for common people in India, a home is a priced possession and they do not sell and buy residential properties often. They wait for an auspicious date to such transactions. Keeping this in mind, realtors at Pune has organized Sakal Pune Property Show named as Sakal Gudi Padwa Grihotsav 2012. Across the just concluded quarter, residential prices in the outskirts of Mumbai have seen a positive slide. With the Union Budget 2012 giving due consideration to the loans of affordable housing projects coupled with the positive feeling related to the festival, buyers and sellers expect to strike a great deal during this year’s Gudi Padwa. The buyers mainly constitute the New Urban Family Sector. Moreover, during this festive season, realtors juxtapose the properties with attractive discounts and freebies. But with these factors only, nobody can lure customers today. They are more oriented towards the location of the property, the pricing and the quality of construction. The recent years were not so good for real estate sector. The ever rising inflation rates and interest rates kept the buyers at the bay. But the recent decision of the RBI to cut CRR rates gives little bit of hope to the sector. However real estate experts suggest that the sentiments related to a festival only cannot trigger the sector. But it is decisive in getting the real estate market on the right track after a gloom. Moreover, traditionally Gudi Padwa means birth of bhoomi and bhoomi is everybody’s shelter. We can hope and look forward for bright days for real estate sector ahead with this auspicious festival.

[via India Real Estate Monitor]

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Gurgaon New Projects – Orris Aster Court

Orris Aster Court in Gurgaon Welcome to Orris new residential launch Aster Court in Gurgaon. Aster Court is a conveniently located modern group housing project spread over 25 acres. Orris Aster Court offers a charming blend of Contemporary Indian living with the best of modern amenities to ensure warm and cosy living. Locations Orris Aster Court is trategically located at Sector 85, New Gurgaon, around 1 km from NH-8. Amenties Fitness Yoga & Meditation centre, Swimming pool, Billiards & Lawn Tennis court, Cards Room, TV Lounge and, & Multi-purpose hall About Developers Quality is never by chance. It is the result of endless adherence to a well defined process. It is my personal commitment that Orris will not just deliver superior but above expectation realty solutions. Expect nothing less than the best from us. Land as well as its location is the core of every realty project. With an asset of more than 1200 acres, Orris is one of the leading land consolidator in and around Gurgaon. This consolidation is the result of Mr. Vijay Gupta foresight, expertise and experience of over 30 years in the realty market. Contact InvestInNest.com for the Best Deals 9717841117

Orris Aster Court in Gurgaon Welcome to Orris new residential launch Aster Court in Gurgaon. Aster Court is a conveniently located modern group housing project spread over 25 acres. Orris Aster Court offers a charming blend of Contemporary Indian living with the best of modern amenities to ensure warm and cosy living. Locations Orris Aster Court is trategically located at Sector 85, New Gurgaon, around 1 km from NH-8. Amenties Fitness Yoga & Meditation centre, Swimming pool, Billiards & Lawn Tennis court, Cards Room, TV Lounge and, & Multi-purpose hall About Developers Quality is never by chance. It is the result of endless adherence to a well defined process. It is my personal commitment that Orris will not just deliver superior but above expectation realty solutions. Expect nothing less than the best from us. Land as well as its location is the core of every realty project. With an asset of more than 1200 acres, Orris is one of the leading land consolidator in and around Gurgaon. This consolidation is the result of Mr. Vijay Gupta foresight, expertise and experience of over 30 years in the realty market. Contact InvestInNest.com for the Best Deals 9717841117

[via Web Blog’s InvestInNest.com]

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Mahindra Aura Project, Phase- 2, Sector 110A, Gurgaon.

Mahindra “AURA”, Phase- 2, Sector- 110A, Gurgaon. Mahindra Lifespaces, the real estate development arm of $7.1 billion Mahindra Group is a subsidiary of Mahindra & Mahindra Limited. Formerly known as Mahindra Gesco Developers Ltd, the new name reflects the company’s passion and vision of creating spaces for healthy living – in both residential and commercial segments. We are pleased to announce launch of an upcoming project of Mahindra Lifespace Ltd. “Mahindra Aura” Gurgaon, sector 110 A. Mahindra Lifespaces, the real estate development arm of $6 billion Mahindra Group is a subsidiary of Mahindra & Mahindra Limited. Inspired creations: Each of our projects will be ‘inspired’ by the voice of the customer through a process of co-creation. We will attempt to understand the customer’s needs and his aspirational lifestyle and ensure that our project captures the essence of the customer’s needs and the same is reflected in the design elements Mahindra Aura is a fine blend of modern architecture and green surroundings replete with integrated infrastructure and amenities. Well-connected, Mahindra Aura is just a stone’s throw away from the IGI Airport, Delhi. Located in Sec 110 A in Gurgaon, next to Palam Vihar, the complex is situated on the proposed expressway. It is approx 4.5 Km from Nazbgarh, 8 Km from airport and 5 Km from Dwarka. • 20 mins from IGI Airport* • 25 mins from Vasant Kunj* • 15 mins from south Delhi* • Well-connected to NCR* • Around 80% open space* • Play area for children* • 24

Mahindra “AURA”, Phase- 2, Sector- 110A, Gurgaon. Mahindra Lifespaces, the real estate development arm of $7.1 billion Mahindra Group is a subsidiary of Mahindra & Mahindra Limited. Formerly known as Mahindra Gesco Developers Ltd, the new name reflects the company’s passion and vision of creating spaces for healthy living – in both residential and commercial segments. We are pleased to announce launch of an upcoming project of Mahindra Lifespace Ltd. “Mahindra Aura” Gurgaon, sector 110 A. Mahindra Lifespaces, the real estate development arm of $6 billion Mahindra Group is a subsidiary of Mahindra & Mahindra Limited. Inspired creations: Each of our projects will be ‘inspired’ by the voice of the customer through a process of co-creation. We will attempt to understand the customer’s needs and his aspirational lifestyle and ensure that our project captures the essence of the customer’s needs and the same is reflected in the design elements Mahindra Aura is a fine blend of modern architecture and green surroundings replete with integrated infrastructure and amenities. Well-connected, Mahindra Aura is just a stone’s throw away from the IGI Airport, Delhi. Located in Sec 110 A in Gurgaon, next to Palam Vihar, the complex is situated on the proposed expressway. It is approx 4.5 Km from Nazbgarh, 8 Km from airport and 5 Km from Dwarka. • 20 mins from IGI Airport* • 25 mins from Vasant Kunj* • 15 mins from south Delhi* • Well-connected to NCR* • Around 80% open space* • Play area for children* • 24

Mahindra Aura Project, Phase- 2, Sector 110A, Gurgaon.

Mahindra “AURA”, Phase- 2, Sector- 110A, Gurgaon. Mahindra Lifespaces, the real estate development arm of $7.1 billion Mahindra Group is a subsidiary of Mahindra & Mahindra Limited. Formerly known as Mahindra Gesco Developers Ltd, the new name reflects the company’s passion and vision of creating spaces for healthy living – in both residential and commercial segments. We are pleased to announce launch of an upcoming project of Mahindra Lifespace Ltd. “Mahindra Aura” Gurgaon, sector 110 A. Mahindra Lifespaces, the real estate development arm of $6 billion Mahindra Group is a subsidiary of Mahindra & Mahindra Limited. Inspired creations: Each of our projects will be ‘inspired’ by the voice of the customer through a process of co-creation. We will attempt to understand the customer’s needs and his aspirational lifestyle and ensure that our project captures the essence of the customer’s needs and the same is reflected in the design elements Mahindra Aura is a fine blend of modern architecture and green surroundings replete with integrated infrastructure and amenities. Well-connected, Mahindra Aura is just a stone’s throw away from the IGI Airport, Delhi. Located in Sec 110 A in Gurgaon, next to Palam Vihar, the complex is situated on the proposed expressway. It is approx 4.5 Km from Nazbgarh, 8 Km from airport and 5 Km from Dwarka. • 20 mins from IGI Airport* • 25 mins from Vasant Kunj* • 15 mins from south Delhi* • Well-connected to NCR* • Around 80% open space* • Play area for children* • 24

Mahindra “AURA”, Phase- 2, Sector- 110A, Gurgaon. Mahindra Lifespaces, the real estate development arm of $7.1 billion Mahindra Group is a subsidiary of Mahindra & Mahindra Limited. Formerly known as Mahindra Gesco Developers Ltd, the new name reflects the company’s passion and vision of creating spaces for healthy living – in both residential and commercial segments. We are pleased to announce launch of an upcoming project of Mahindra Lifespace Ltd. “Mahindra Aura” Gurgaon, sector 110 A. Mahindra Lifespaces, the real estate development arm of $6 billion Mahindra Group is a subsidiary of Mahindra & Mahindra Limited. Inspired creations: Each of our projects will be ‘inspired’ by the voice of the customer through a process of co-creation. We will attempt to understand the customer’s needs and his aspirational lifestyle and ensure that our project captures the essence of the customer’s needs and the same is reflected in the design elements Mahindra Aura is a fine blend of modern architecture and green surroundings replete with integrated infrastructure and amenities. Well-connected, Mahindra Aura is just a stone’s throw away from the IGI Airport, Delhi. Located in Sec 110 A in Gurgaon, next to Palam Vihar, the complex is situated on the proposed expressway. It is approx 4.5 Km from Nazbgarh, 8 Km from airport and 5 Km from Dwarka. • 20 mins from IGI Airport* • 25 mins from Vasant Kunj* • 15 mins from south Delhi* • Well-connected to NCR* • Around 80% open space* • Play area for children* • 24

Raj Nagar Extension: Quality housing, affordable price

Ghaziabad Raj Nagar Extension, located on National Highway 58, Ghaziabad, is a unique experiment where over 15 developers have come together to market projects in an area that is along a major transport corridor. Unlike several other places, where despite geographical clustering, developers largely sell individual projects, all developers have jointly promoted in Raj Nagar Extension, even naming it an extension of the already established Raj Nagar area of Ghaziabad. This was possible because most projects in the area fitted into the affordable housing category and attracted end users from the neighbouring regions who had traditionally been kept out of the market because of affordability issues. Today, the locality is extremely popular with middle and lowermiddle class buyers as well as firsttime young buyers who are looking to purchase a home to stay in. The strategy of joint marketing has worked well as buyers have several options of two- and threebedroom apartments to choose from. Approximately 10,000 housing units are currently being constructed by leading developers like Ajnara India Limited, Ashiana Homes Private Limited, Nitishree Infrastructure Limited, SG Estates Limited, Shree Energy Developers, among others. While the projects aim to provide ‘affordable homes’ to end users, developers are also backing it up with housing units having the best of amenities. The Raj Nagar Extension project is unique in itself and it’s the first project across the Delhi NCR (National Capital Region) where so many developers have come together and have constructed dwelling units in a similar category. The project is strategically located and is at a 15-minute drive from Delhi and Noida. Since the area is new and yet to be developed, a joint thrust allows developers at Raj Nagar Extension to provide the best surroundings and amenities to end users. The quality of construction and ambience is also a focus area for developers, apart from low-cost housing. Affordability If we look at the project profile, even though the houses fall broadly in the affordable category, every developer is offering different types of apartments in terms of floor area and categories. On the whole, apartment size varies from 400 sq ft to 1,700 sq ft (1BHK-4BHK), in a price range of Rs 1,600-Rs 2,000/sq ft. This price range is much more affordable as compared to the average prices of projects coming up in Noida, Greater Noida and Indirapuram. Most of the developers are offering 10% discount on inaugural prices. This makes Raj Nagar Extension a destination for a wide band of middle-class end users, offering choices ranging from a 1BHK for Rs 12 lakh to a 3BHK for Rs 40 lakh, with facilities like entertainment zones, space for parties, events and business meetings, shopping arcades, and jogging tracks. Possession Currently, the main attraction of Raj Nagar Extension is that nine out of 15 developers active in the region are offering possession in 2010. Nearly 4,500 housing units will be handed over to buyers in this year. After the global economic turmoil, which also impacted Indian markets, most buyers today prefer apartments that are nearing completion. Thus, any pocket of development with around 4,500 ready-to-move-in apartments will readily attract end users. These developers are almost ready with their projects and these units will be ready for possession within this year. Most of these projects were launched in 2008-09. Thus, the fact that development in this region continued despite the intervening economic slowdown has raised the credibility of developers in the eyes of end users. Also, since a large number of units will be up for possession at the same time, there is expected to be a rush for occupancy, which is also expected to lead to robust demand for rental housing as well. The Raj Nagar Extension project enjoys location advantages — an assured serene green development along a waterfront being one of them. The Ghaziabad Development Authority (GDA) has declared 500 acre of land along the Hindon river as a green belt and banned all construction activity in the area. This ensures access to unpolluted greens on one side. Transport connectivity Also, since the project is along the arterial National Highway 58, there are no major connectivity issues. The Delhi Metro’s proposed station is expected to be at sniffing distance from Raj Nagar Extension. In addition, the area can piggyback on the well-developed transport links that Ghaziabad enjoys with the rest of the NCR and developers only have to ensure lastmile connectivity. As a joint forum, they have been campaigning for the same. Source:http://content.magicbricks.com/raj-nagar-extension?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: Affordable Price , Ghaziabad , Quality Housing , Raj Nagar

Ghaziabad Raj Nagar Extension, located on National Highway 58, Ghaziabad, is a unique experiment where over 15 developers have come together to market projects in an area that is along a major transport corridor. Unlike several other places, where despite geographical clustering, developers largely sell individual projects, all developers have jointly promoted in Raj Nagar Extension, even naming it an extension of the already established Raj Nagar area of Ghaziabad. This was possible because most projects in the area fitted into the affordable housing category and attracted end users from the neighbouring regions who had traditionally been kept out of the market because of affordability issues. Today, the locality is extremely popular with middle and lowermiddle class buyers as well as firsttime young buyers who are looking to purchase a home to stay in. The strategy of joint marketing has worked well as buyers have several options of two- and threebedroom apartments to choose from. Approximately 10,000 housing units are currently being constructed by leading developers like Ajnara India Limited, Ashiana Homes Private Limited, Nitishree Infrastructure Limited, SG Estates Limited, Shree Energy Developers, among others. While the projects aim to provide ‘affordable homes’ to end users, developers are also backing it up with housing units having the best of amenities. The Raj Nagar Extension project is unique in itself and it’s the first project across the Delhi NCR (National Capital Region) where so many developers have come together and have constructed dwelling units in a similar category. The project is strategically located and is at a 15-minute drive from Delhi and Noida. Since the area is new and yet to be developed, a joint thrust allows developers at Raj Nagar Extension to provide the best surroundings and amenities to end users. The quality of construction and ambience is also a focus area for developers, apart from low-cost housing. Affordability If we look at the project profile, even though the houses fall broadly in the affordable category, every developer is offering different types of apartments in terms of floor area and categories. On the whole, apartment size varies from 400 sq ft to 1,700 sq ft (1BHK-4BHK), in a price range of Rs 1,600-Rs 2,000/sq ft. This price range is much more affordable as compared to the average prices of projects coming up in Noida, Greater Noida and Indirapuram. Most of the developers are offering 10% discount on inaugural prices. This makes Raj Nagar Extension a destination for a wide band of middle-class end users, offering choices ranging from a 1BHK for Rs 12 lakh to a 3BHK for Rs 40 lakh, with facilities like entertainment zones, space for parties, events and business meetings, shopping arcades, and jogging tracks. Possession Currently, the main attraction of Raj Nagar Extension is that nine out of 15 developers active in the region are offering possession in 2010. Nearly 4,500 housing units will be handed over to buyers in this year. After the global economic turmoil, which also impacted Indian markets, most buyers today prefer apartments that are nearing completion. Thus, any pocket of development with around 4,500 ready-to-move-in apartments will readily attract end users. These developers are almost ready with their projects and these units will be ready for possession within this year. Most of these projects were launched in 2008-09. Thus, the fact that development in this region continued despite the intervening economic slowdown has raised the credibility of developers in the eyes of end users. Also, since a large number of units will be up for possession at the same time, there is expected to be a rush for occupancy, which is also expected to lead to robust demand for rental housing as well. The Raj Nagar Extension project enjoys location advantages — an assured serene green development along a waterfront being one of them. The Ghaziabad Development Authority (GDA) has declared 500 acre of land along the Hindon river as a green belt and banned all construction activity in the area. This ensures access to unpolluted greens on one side. Transport connectivity Also, since the project is along the arterial National Highway 58, there are no major connectivity issues. The Delhi Metro’s proposed station is expected to be at sniffing distance from Raj Nagar Extension. In addition, the area can piggyback on the well-developed transport links that Ghaziabad enjoys with the rest of the NCR and developers only have to ensure lastmile connectivity. As a joint forum, they have been campaigning for the same. Source:http://content.magicbricks.com/raj-nagar-extension?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: Affordable Price , Ghaziabad , Quality Housing , Raj Nagar

[via India Real Estate Tracker]

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Alhind Builders to build tallest apartment in Kerala

Alhind Builders is set to construct what is claimed to be the tallest apartment building in Kerala, complete with two helipads. The 40-storey building forms part of an apartment complex coming up at Karaparamabu junction in Kozhikode, with two other buildings having 30 and 10 storeys each. The managing partner of Alhind Builders, Wazeerudhin said that the complex, which would be accessible from all main roads in the city, would have a total of 376 flats. The two and three-bedroom flats would be available at prices usually quoted for such flats outside the city. The building complex, styled ‘Burj Alhind,’ is being designed by renowned architect Hafeez Contractor of Mumbai. Apart from the two helipads, the complex will feature swimming pools, business centres, shopping malls, gymnasium, lift parking and other facilities. Source:http://www.realtyplusmag.com/rpnewsletter/fullstory.asp?news_id=9680&cat_id=1 Filed under: Builders/ Developers , New projects Tagged: Alhind Builders , Karaparamabu , Real Estate in Kerala

Alhind Builders is set to construct what is claimed to be the tallest apartment building in Kerala, complete with two helipads. The 40-storey building forms part of an apartment complex coming up at Karaparamabu junction in Kozhikode, with two other buildings having 30 and 10 storeys each. The managing partner of Alhind Builders, Wazeerudhin said that the complex, which would be accessible from all main roads in the city, would have a total of 376 flats. The two and three-bedroom flats would be available at prices usually quoted for such flats outside the city. The building complex, styled ‘Burj Alhind,’ is being designed by renowned architect Hafeez Contractor of Mumbai. Apart from the two helipads, the complex will feature swimming pools, business centres, shopping malls, gymnasium, lift parking and other facilities. Source:http://www.realtyplusmag.com/rpnewsletter/fullstory.asp?news_id=9680&cat_id=1 Filed under: Builders/ Developers , New projects Tagged: Alhind Builders , Karaparamabu , Real Estate in Kerala

[via India Real Estate Tracker]

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Vigneshwara Developers – Real Estate Investment Plan in Gurgaon

Vigneshwara Developers has created a niche for itself in the development of IT parks in the country. Vigneshwara developers are going to launch a pilot project in Sohna very soon. Vigneshwara Developers have provided the best return on investments. IMMEDIATE RELEASE: Vigneshwara Developers has created a niche for itself in the development of IT parks in the country. Vigneshwara developers are going to launch a pilot project in Sohna very soon. Vigneshwara Developers have provided the best return on investments. In addition these investments provide you with a “higher than normal” monthly rental income. With the coming up of massive IT corridor in IMT Manesar near Gurgaon by Vigneshwara Developers, the property values in the neighboring residential areas have doubled in last two years. Vigneshwara Developers has acquired 10 acres of area from the total space of 150 acres and is developing it into a state of the art technology park called Project iValley. As there is no low- cost accommodation available for these migrant laborers, most of them end up staying in slums. The rise in number of poor laborers, year after year, makes a strong case for such homes. In the coming few years, NCR region will have about 4-5 lakhs of laborers working for the realty sector. So there is demand for the accommodation for these people and the demand will rise in the near future. After creating a niche for itself in the office space and IT parks segment, Vigneshwara Developers Pvt. Ltd, is planning to foray into the housing for daily laborers and vendors. Affordable housing for the laborers working in the realty sector has become a necessity. There is no organised housing plan for the large number of migrant laborers coming to the city and adjoining areas,” Sunil Dahiya, managing director, Vigneshwara Developers, said. Vigneshwara developers are going to launch a pilot project in Sohna very soon. The project will be based on rented accommodation for the daily wage laborers with proper sanitation and water. And the monthly fee for the accommodation will be about Rs 500. And they will also provide the transportation facility for them to the main city. The exemption of taxes on the low- cost housing schemes for urban poor under the Central or state government schemes will attract more developers into this segment. There will be great demand in this segment in the upcoming years. Filed under: Builders/ Developers , Delhi , New projects Tagged: Gurgaon , Vigneshwara Developers

Vigneshwara Developers has created a niche for itself in the development of IT parks in the country. Vigneshwara developers are going to launch a pilot project in Sohna very soon. Vigneshwara Developers have provided the best return on investments. IMMEDIATE RELEASE: Vigneshwara Developers has created a niche for itself in the development of IT parks in the country. Vigneshwara developers are going to launch a pilot project in Sohna very soon. Vigneshwara Developers have provided the best return on investments. In addition these investments provide you with a “higher than normal” monthly rental income. With the coming up of massive IT corridor in IMT Manesar near Gurgaon by Vigneshwara Developers, the property values in the neighboring residential areas have doubled in last two years. Vigneshwara Developers has acquired 10 acres of area from the total space of 150 acres and is developing it into a state of the art technology park called Project iValley. As there is no low- cost accommodation available for these migrant laborers, most of them end up staying in slums. The rise in number of poor laborers, year after year, makes a strong case for such homes. In the coming few years, NCR region will have about 4-5 lakhs of laborers working for the realty sector. So there is demand for the accommodation for these people and the demand will rise in the near future. After creating a niche for itself in the office space and IT parks segment, Vigneshwara Developers Pvt. Ltd, is planning to foray into the housing for daily laborers and vendors. Affordable housing for the laborers working in the realty sector has become a necessity. There is no organised housing plan for the large number of migrant laborers coming to the city and adjoining areas,” Sunil Dahiya, managing director, Vigneshwara Developers, said. Vigneshwara developers are going to launch a pilot project in Sohna very soon. The project will be based on rented accommodation for the daily wage laborers with proper sanitation and water. And the monthly fee for the accommodation will be about Rs 500. And they will also provide the transportation facility for them to the main city. The exemption of taxes on the low- cost housing schemes for urban poor under the Central or state government schemes will attract more developers into this segment. There will be great demand in this segment in the upcoming years. Filed under: Builders/ Developers , Delhi , New projects Tagged: Gurgaon , Vigneshwara Developers

[via India Real Estate Tracker]

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No possibility for Affordable housing within Mumbai but possible in nearby vicinity

Due to absolute scarcity of available lands for development and land prices going extremely high, Affordable housing within Mumbai city limits does not seem possible and can only be possible  in areas like Karjat, Panvel and other extended suburbs of the island city. The MMRDA is about to identify the nodal centres for housing schemes to be implemented through public-private participation. In a recent meeting of C.M.with other ministers, the Secretary of Housing of the state of Maharashtra said that five lakh units shall be built  within next five years, though earlier, the objective was to create a million homes. The state has signed a MoU with the MCHI for  constructing the five lakh housing units, that  will be done through a joint venture between a private developer and MHADA. The developer shall  provide the land and shall be allowed an FSI of 2.5.out of which, 1 FSI shall be for affordable housing, MHADA shall get 0 .75 FSI and developer shall get 0.75 FSI as a free cell component. A premium will have to be paid by the developer for off-site infrastructure. The Housing Department would soon come up with recommendations on all issues related to affordable housing Source:http://www.accommodationtimes.com/real-estate-news/no-possibility-for-affordable-housing-within-mumbai-but-possible-in-nearby-vicinity/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+AccommodationTimes+%28Accommodation+Times%29 Filed under: Builders/ Developers , Navi Mumbai , New projects Tagged: affordable housing , FSI , Karjat , Panvel

Due to absolute scarcity of available lands for development and land prices going extremely high, Affordable housing within Mumbai city limits does not seem possible and can only be possible  in areas like Karjat, Panvel and other extended suburbs of the island city. The MMRDA is about to identify the nodal centres for housing schemes to be implemented through public-private participation. In a recent meeting of C.M.with other ministers, the Secretary of Housing of the state of Maharashtra said that five lakh units shall be built  within next five years, though earlier, the objective was to create a million homes. The state has signed a MoU with the MCHI for  constructing the five lakh housing units, that  will be done through a joint venture between a private developer and MHADA. The developer shall  provide the land and shall be allowed an FSI of 2.5.out of which, 1 FSI shall be for affordable housing, MHADA shall get 0 .75 FSI and developer shall get 0.75 FSI as a free cell component. A premium will have to be paid by the developer for off-site infrastructure. The Housing Department would soon come up with recommendations on all issues related to affordable housing Source:http://www.accommodationtimes.com/real-estate-news/no-possibility-for-affordable-housing-within-mumbai-but-possible-in-nearby-vicinity/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+AccommodationTimes+%28Accommodation+Times%29 Filed under: Builders/ Developers , Navi Mumbai , New projects Tagged: affordable housing , FSI , Karjat , Panvel

[via India Real Estate Tracker]

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North Bangalore seeing Commercial Development

The stretch of the area from the Hebbal flyover upto Devanahalli is abuzz with plans for many commercial projects. The recent Global Investors’ Meet, brought this area into focus. Many industries have evinced keen interest in the three industrial parks that are coming up on 3,000 acres of land in this region and will be ready to occupy by the end of this year. The widening of the Bellary Road and future connectivity through the planned Peripheral Ring Road (PRR) has also made this area a sought-after one. The PRR is aimed to connect Tumkur Road, Hosur Road, Mysore Road, Magadi Road, Bellary Road, Old Madras Road, and improve accessibility to Devanahalli. This is also spurring interest in residential options around these areas. According to findings from real estate firms, there are certain locations like north Bangalore that are buzzing with activity. This is because of infrastructure developments like the new international airport, the metro project, flyovers, underpasses and roadwidening activities, which are encouraging developers who anticipate a growth in demand. “Presently, north Bangalore is undergoing rapid transformation due to commercialisation. Also, it is noticeable that the region has significant residential real estate activity, along with commercial developments,” says Karun Varma, Managing Director, Jones Lang LaSalle Meghraj. FACTORS DRIVING DEVELOPMENT The availability of land parcels for commercial development is one of the main factors driving development in this location. The demand is growing with no corresponding supply in the pipeline, apart from the existing tech park here. Other significant factors are the proximity to the airport, road projects and upcoming residential and hospitality developments. Over 3,000 acres of land, hardware, IT/BT and aerospace parks will be coming up near the international airport. There is also provision to develop residential facility for people working in those industrial plants in about 250-300 acres of land. Some of the leading developers of Bangalore and Karnataka Housing Board (KHB) have been provided land. 100 acres have been allotted to the KHB and 25 acres to private developers. Some of the projects have already been approved and some are under consideration. While 90 percent of the space will be allocated for industrial and commercial activities, 10 percent of the space is reserved for housing. “North Bangalore is a future commercial hub. Having said that the speed at which this will happen depends on the infrastructure projects that the government has promised. There are plenty of land parcels in this corridor that can be commercially exploited to make North Bangalore a future commercial hub of the garden city,” says Shrinivas Rao, CEO, Vestian Workplace Services. According to him, the key factors are the airport and the connectivity that the government has promised. “Social infrastructure has developed in this micro market compared to other micro markets of Bangalore where social infrastructure developed post the commercial development and hence there was a longer turnaround time in acceptance of the micro market as a good commercial destination,” he says. There are land parcels in excess of 10 acres available in this micro market.The commercial development in Nelamangala and the Greater Peenya project coming up will also have a significant bearing on the development in this region, owing to the connectivity factor. Commuting from Nelamangala has been drastically reduced via the Outer Ring Road and NH 207 that will speed up the commute to Devanahalli. ROAD IMPROVEMENT PROJECTS Development of infrastructure is taking high priority in this area. For example, there are plans to look at the proposed high speed rail link to the International A i r p o r t , Mono Rail, and development of ring roads on           public – private partnership model. A 4 km-elevated highway will come up between the Hebbal flyover and Yelahanka bypass. There will also be flyovers at Yelahanka bypass and Vidyanagar, two pedestrian underpasses, one vehicular underpass, and a cattle crossing. Totally, there will be 26 bus bays till the airport. Along with connectivity, the KIADB’s Hardware Park, Aerospace Park, and the ITIR planned here will give a push to residential development around. Localities around Yelahanka, Jalahalli, Doddaballapur Road, and IVC Road along with the BDA’s Dr Shivaram Karanth Layout are some of the areas that will benefit from better connectivity. Better connectivity will serve residential catchment areas around Hebbal-ORR, Hennur-Banaswadi Road, and Yelahanka-Doddaballapur Road. Source:http://content.magicbricks.com/north-bangalore-seeing-commercial-development?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+india-real-estate+%28Magicbricks+Property+Pulse%29 Filed under: Bangalore , Builders/ Developers , New projects , Retail/ malls , Serviced apartments/offices Tagged: Bangalore , Commercial Developement

The stretch of the area from the Hebbal flyover upto Devanahalli is abuzz with plans for many commercial projects. The recent Global Investors’ Meet, brought this area into focus. Many industries have evinced keen interest in the three industrial parks that are coming up on 3,000 acres of land in this region and will be ready to occupy by the end of this year. The widening of the Bellary Road and future connectivity through the planned Peripheral Ring Road (PRR) has also made this area a sought-after one. The PRR is aimed to connect Tumkur Road, Hosur Road, Mysore Road, Magadi Road, Bellary Road, Old Madras Road, and improve accessibility to Devanahalli. This is also spurring interest in residential options around these areas. According to findings from real estate firms, there are certain locations like north Bangalore that are buzzing with activity. This is because of infrastructure developments like the new international airport, the metro project, flyovers, underpasses and roadwidening activities, which are encouraging developers who anticipate a growth in demand. “Presently, north Bangalore is undergoing rapid transformation due to commercialisation. Also, it is noticeable that the region has significant residential real estate activity, along with commercial developments,” says Karun Varma, Managing Director, Jones Lang LaSalle Meghraj. FACTORS DRIVING DEVELOPMENT The availability of land parcels for commercial development is one of the main factors driving development in this location. The demand is growing with no corresponding supply in the pipeline, apart from the existing tech park here. Other significant factors are the proximity to the airport, road projects and upcoming residential and hospitality developments. Over 3,000 acres of land, hardware, IT/BT and aerospace parks will be coming up near the international airport. There is also provision to develop residential facility for people working in those industrial plants in about 250-300 acres of land. Some of the leading developers of Bangalore and Karnataka Housing Board (KHB) have been provided land. 100 acres have been allotted to the KHB and 25 acres to private developers. Some of the projects have already been approved and some are under consideration. While 90 percent of the space will be allocated for industrial and commercial activities, 10 percent of the space is reserved for housing. “North Bangalore is a future commercial hub. Having said that the speed at which this will happen depends on the infrastructure projects that the government has promised. There are plenty of land parcels in this corridor that can be commercially exploited to make North Bangalore a future commercial hub of the garden city,” says Shrinivas Rao, CEO, Vestian Workplace Services. According to him, the key factors are the airport and the connectivity that the government has promised. “Social infrastructure has developed in this micro market compared to other micro markets of Bangalore where social infrastructure developed post the commercial development and hence there was a longer turnaround time in acceptance of the micro market as a good commercial destination,” he says. There are land parcels in excess of 10 acres available in this micro market.The commercial development in Nelamangala and the Greater Peenya project coming up will also have a significant bearing on the development in this region, owing to the connectivity factor. Commuting from Nelamangala has been drastically reduced via the Outer Ring Road and NH 207 that will speed up the commute to Devanahalli. ROAD IMPROVEMENT PROJECTS Development of infrastructure is taking high priority in this area. For example, there are plans to look at the proposed high speed rail link to the International A i r p o r t , Mono Rail, and development of ring roads on           public – private partnership model. A 4 km-elevated highway will come up between the Hebbal flyover and Yelahanka bypass. There will also be flyovers at Yelahanka bypass and Vidyanagar, two pedestrian underpasses, one vehicular underpass, and a cattle crossing. Totally, there will be 26 bus bays till the airport. Along with connectivity, the KIADB’s Hardware Park, Aerospace Park, and the ITIR planned here will give a push to residential development around. Localities around Yelahanka, Jalahalli, Doddaballapur Road, and IVC Road along with the BDA’s Dr Shivaram Karanth Layout are some of the areas that will benefit from better connectivity. Better connectivity will serve residential catchment areas around Hebbal-ORR, Hennur-Banaswadi Road, and Yelahanka-Doddaballapur Road. Source:http://content.magicbricks.com/north-bangalore-seeing-commercial-development?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+india-real-estate+%28Magicbricks+Property+Pulse%29 Filed under: Bangalore , Builders/ Developers , New projects , Retail/ malls , Serviced apartments/offices Tagged: Bangalore , Commercial Developement

[via India Real Estate Tracker]

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