tag:blogger.com,1999:blog-91767547545589197422024-02-19T15:46:11.883+05:30Neo DevelopersNeo Developers Pvt. Ltd. is a leading name in real estate developers and builders in Gurgaon, India. Neo deals in commercial property, residential property, retail space in Delhi NCR and Gurgaon.NEOhttp://www.blogger.com/profile/09328212349037731326noreply@blogger.comBlogger732125tag:blogger.com,1999:blog-9176754754558919742.post-89155949671948961082020-06-27T17:42:00.000+05:302020-06-27T17:42:32.824+05:30City's longest elevated road coming up on Dwarka e-way<div dir="ltr" style="text-align: left;" trbidi="on">
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EASY CONNECTIVIT: Y : A 8.5-km stretch, constructed as a part of the package 3 of Dwarka e-way, will be the longest elevated road in the city; with 35% work over, the road package to be ready by 2021<br />
Rohit David<br />
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rohit.david@hindustantimes.com<br />
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Gurugram : The 8.5-km elevated road, which is being constructed from Delhi-Haryana border near Dwarka till Basai railway overbridge as part of the 10.2-km package 3 of Dwarka Expressway, will be the longest one in the city, said NHAI officials familiar with the matter.<br />
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Around 35% work has been completed in this package and NHAI officials said they were hopeful that by March 2021, the entire stretch will be operational.<br />
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NHAI officials in Delhi privy to the matter said that elevated road once operational will be the longest one in the city. “The elevated road is being constructed in package 3 of Dwarka Expressway. Once it becomes operational, it will be the longest one in the city,” said a senior NHAI official working on the project.<br />
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Udeep Singhal, project director, Dwarka Expressway, declined to comment on the matter, while RK Mishra, project director, L&T, said, “The elevated road is certainly going to be the longest one in the entire city .”<br />
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Mishra added that there will be two exit points at Babarpur and Pataudi Road.<br />
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“The 8.5-km elevated road will be placed on 67 single pillars, which are being placed at the median of the carriageway, thereby saving a lot of land,” said Mishra. The remaining 1.7km will be taken up by the approach roads on the ground level.<br />
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The eight-lane expressway (four lanes on either side) will also have a two-lane service road on either side which will be also be elevated at certain locations. The service road won’t be on the entire 10.2km stretch but at five important crossings.<br />
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“The elevated service roads will be at a few locations,” said Anil Chaudhary, planning in-charge, L&T, NHAI contractor for the project.<br />
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The NHAI has also planned three underpasses for safe passage of vehicles at traffic crossings under the elevated road.<br />
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“The elevated road is pretty long and we want the movement of traffic on road (below the elevated road) to be free from any hindrance so sufficient underpasses will be constructed. Traffic will move freely on the elevated stretch and below the highway too,” said Mishra.<br />
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Unlike the Ambience Mall underpass and Shankar Chowk elevated U-turn where NHAI hasn’t planned any foot-over-bridge (FOB), 12 pedestrian subways have been chalked out on this stretch. “We are constructing pedestrian subways in this package. These pedestrian subways will be similar to the ones constructed at Iffco Chowk,” said Chaudhary. Package 3 is being made at a cost of ₹1,334 crore. “To encourage pedestrians use the subways, escalators will be provided and they will be well-lit,” added Mishra.<br />
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The elevated road is likely to have solar lights. “The lights will be LED solar lights, thus not needing any electricity to run them,” said Mishra.<br />
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Like the 8.5-km elevated road which is being constructed in the Dwarka Expressway project, NHAI is also coming up with a five-kilometre elevated highway at Badshahpur. “The construction of a five-kilometre elevated section between Subhash Chowk and Badshahpur is being made. This stretch will be the second longest flyoverin the city after the one on Dwarka Expressway,” said Chaudhary.<br />
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NEOhttp://www.blogger.com/profile/09328212349037731326noreply@blogger.com0tag:blogger.com,1999:blog-9176754754558919742.post-7829814624281772842018-06-04T10:55:00.002+05:302018-06-04T10:55:34.444+05:30Dwarka expressway connecting Delhi and Gurugram will be ready in 18 months<div dir="ltr" style="text-align: left;" trbidi="on">
The <b>Dwarka Expressway</b>, which runs from Mahipalpur in Delhi to Kherki Daula in Gurugram, will help decongest the Delhi-gurgaon Expressway and bring relief to the lakhs of homebuyers who have invested in housing projects along the expressway<br />
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The 29-km Dwarka Expressway will be ready within the next 18 months, Gurugram Metropolitan Development Authority (GMDA) CEO V Umashankar said on Friday.<br />
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“All obstacles have been removed,” he said at an event.<br />
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The <b>Dwarka Expressway</b>, which runs from Mahipalpur in Delhi to Kherki Daula in Gurugram, will help decongest the Delhi-gurgaon Expressway and bring relief to the lakhs of homebuyers who have invested in housing projects along the expressway.<br />
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The project was stuck due to problems in land acquisition at New Palam Vihar and Kherki Daula. The Haryana urban development authority (Huda) had issued notices to 50 homeowners in New Palam Vihar Sector 110 and Kherki Daula in Sector 84 whose properties were on the land required for the new highway. They were told to vacate their houses within 24 hours or face demolition. Huda started demolishing houses on Saturday, the same day when the Punjab and Haryana high court stayed the demolition drive. However, by the time the court issued the stay order, 25 homes had already been demolished.<br />
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On Tuesday, the high court ordered Huda to allot alternative plots to even those evictees who do not have sale deeds, effectively plot owners with the general and special power (GPA/ SPA) of attorney.<br />
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Observing “the urgency of utilising the land for a project of national importance”, the HC ordered Huda to allot alternative plots by June 5.<br />
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Huda administrator Chander Shekar Khare said that a list those eligible for alternative plots was being prepared.<br />
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“We will send the list to headquarters (in Panchkula) tomorrow. Once the allotment process is complete, the land will be handed over to the NHAI (National Highways Authority of India) for the construction of <b>Dwarka Expressway</b>,” Khare said on Thursday.<br />
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Though Khare did not provide a date for allotment of plots, he claimed that Huda was “trying its best”.<br />
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The evictees, however, are not happy.<br />
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They said the demolition drive was illegal as they have not been allotted plots as per the terms of an out-of-court settlement they had reached with the Huda in 2015.<br />
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“It’s been three years since we were promised plots in Sector 110-A. We were also supposed to get a six-month window to build homes on these plots before being asked to vacate our homes,” said 28-year-old Sushobhan, an IT professional who lives in New Palam Vihar.<br />
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The residents also alleged that the demolition drive started on May 26, several hours before the 24-hour ultimatum served to them by Huda was to expire.<br />
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“A police contingent was also present to make sure the drive was carried out without interference from the residents,” said Puran Chand, 58, who has been living in New Palam Vihar for over a decade.<br />
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Another resident, 40-year-old Vishnu Dutt Sharma, pointed out that the notices were issued in accordance with Section 18 of the Huda Act, 1977 (power to evict persons from premises of authority), which contradicted the promises made to residents in the 2015 agreement.<br />
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“Now, most of us are living in rented homes. There is no clarity,” Sharma said.<br />
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<b>Source</b> : https://www.hindustantimes.com/gurugram/dwarka-expressway-connecting-delhi-and-gurugram-will-be-ready-in-18-months/story-UMRsqbFqMnopgDixu8twdK.html</div>
NEOhttp://www.blogger.com/profile/09328212349037731326noreply@blogger.com0tag:blogger.com,1999:blog-9176754754558919742.post-2452083713912546022018-05-22T15:56:00.000+05:302018-05-22T15:56:49.413+05:30Residential sales in top 8 cities grew 13% in 2017-18: Report<div dir="ltr" style="text-align: left;" trbidi="on">
<i><b>Affordable housing continued to be the mainstay of the demand as the contribution of this segment to the overall sales in tier I cities</b></i><div>
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MUMBAI: Residential sales across top 8 tier I cities of India has grown 13% during the financial year 2017-18 (April-March) with Mumbai Metropolitan Region witnessing maximum growth of 25%, showed data from Liases Foras Ratings & Research.<br />
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Affordable housing continued to be the mainstay of the demand as the contribution of this segment to the overall sales in tier I cities including Mumbai, Delhi-NCR, Bengaluru, Pune, Hyderabad, Chennai, Kolkata and Ahmedabad stood at 18% during the fourth quarter.<br />
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The government has been pushing affordable housing through various schemes and incentives. Lower home loan interest rates and necessary impetus by the government to affordable housing has played a key role pushing sales in this segment.<br />
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The government has supported the housing sector through affordable housing fund, lower Goods & Services Tax (GST) rates, increased tenure of loans under Credit Linked Subsidy Scheme (CLSS) of Pradhan Mantri Awas Yojana (PMAY) and extended income tax benefits to apartments of carpet area of 645 sq ft.<br />
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Mumbai was followed by Delhi-National Capital Region with 19% increase in sales for the year. In south zone, Chennai and Bangalore have shown a slow down with sales numbers showing a drop of 15% and 5%, respectively while Hyderabad witnessed a growth of 17%.<br />
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On year-on-year basis, new launches across these top 8 markets have declined in most cities except in Mumbai, Hyderabad and Kolkata where launches grew 42%, 53% and 29%, respectively.<br />
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With a growth in sales and drop in new launches the unsold inventory in the tier 1 cities have dropped by 3% from a year ago to 9.29 lakh units as on March end.<br />
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During the fourth quarter ended March, residential sales across these tier I cities increased by 14% with Hyderabad emerging as the leader with a 33% increase followed by Bangalore with 30% rise, MMR with 19% growth and 14% increase in Pune. Kolkata is the only city that witnessed a marginal decline of 1%.<br />
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During the fourth quarter, sales in affordable segment with price tag of less than Rs 25 lakh increased 24% from a year ago. Sales in the cost bracket of Rs 25 lakh to Rs 50 lakh increased by 4% on an annual basis. Sales in the cost bracket of Rs 50 lakh to Rs 1 crore increased by 17%, while sales in luxury segment with Rs 1 crore to Rs 2 crore rose 13%. Sales in ultra-luxury segment above Rs 2 crore rose 13%.<br />
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Weighted average price across tier I cities witnessed a muted increase of 1%. Marginal decline of 1% was observed in Pune and NCR while prices dropped by 4% in Chennai. Prices in Ahmedabad witnessed no change while a slight increase of 1% was observed in Hyderabad , Kolkata , MMR and Pune each, the data showed.<br />
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NCR led with the highest contribution to sales in the affordable segment with 26% followed by MMR with 23%, Ahmedabad with 20% and Pune with 15% of total sales in this segment. All 8 cities cumulatively sold highest in cost range of Rs 25 lakh – Rs 50 lakh, with sales of 35% of total sales, followed by cost range of Rs 50 lakh to Rs 1 crore at 30% of total sales.<br />
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Among regions, MMR contributed the highest to overall sales at 17,143 units or 25% of total sales followed by NCR at 15,326 units or 22% of total sales, the data showed.<br />
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During the quarter, MMR added the highest new launches, with a contribution of 25% followed by Bangalore 17% and NCR 11%. Among various cost segments, the cost bracket of Rs 50 lakh to Rs 1 crore witnessed maximum new launches amounting to 39% of total new supply followed by the cost brackets of Rs 25 lakhs to Rs 50 lakhs with 36% contribution.<br />
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The Rs 50 lakh to Rs 1 crore segment of MMR witnessed maximum launches of 5,545 units contributing 11% of the total new launches across eight tier 1 cities. Kolkata contributed 29% of the new launches in the affordable segment with less than Rs 25 lakh followed by MMR 25% and Pune 24%.<br />
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<b>Source</b> : https://realty.economictimes.indiatimes.com/news/residential/residential-sales-in-top-8-cities-grew-13-in-2017-18-report/64256679?photo_id=59863844<br />
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NEOhttp://www.blogger.com/profile/09328212349037731326noreply@blogger.com0tag:blogger.com,1999:blog-9176754754558919742.post-73295725724306076082018-05-14T12:31:00.001+05:302018-05-14T12:31:46.449+05:30Link road expansion to cut travel time from Dwarka expressway to Hero Honda Chowk<div dir="ltr" style="text-align: left;" trbidi="on">
<b>GURUGRAM</b>: The tender for the six-lane road connecting <b>DwarkaExpressway</b> with Delhi-Jaipur Expressway, also known as NH-8, is likely to be floated in August this year, said Haryana PWD minister Rao Narbir Singh in Gurugram on Sunday.<br />
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Talking about the project, the minister said, “The tender for the six-lane project, including a flyover at Umang Bhardwaj Chowk, will be issued in August,” said Narbir.<br />
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TOI had earlier reported that GMDA will develop a six-lane connector from Dwarka Expressway that will meet NH-8 at Hero Honda Chowk. It will be an expansion of the existing 5.8km-long two-lane road between Hero Honda Chowk and <b>Dwarka Expressway</b>.<br />
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The road, which is mainly used by Old Gurugram residents as an alternative route to reach NH-8, witnesses massive snarls due to huge volume of private and commercial vehicles. The road was earlier supposed to go up to Umang Bhardwaj Chowk, but was later extended to <b>Dwarka Expressway</b>. Along with a flyover at Umang Bhardwaj Chowk, the same project will now include another flyover at Basai Chowk.<br />
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The total cost of the project was earlier projected at around Rs 147 crore, but the minister didn’t give out any information on the cost escalation on Sunday.<br />
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The six-lane project was first proposed during chief minister Manohar Lal Khattar’s visit to Gurugram in April last year, when he had inspected various ongoing projects in the city. Khattar later announced a revamp and widening of the road in August, after it was approved by GMDA in its first meeting.<br />
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Following Khattar’s announcement, the state government sought funds from the National Highways Authority of India (NHAI), though the latter eventually did not sanction the funds, said Narbir. “Since NHAI declined to take up the project, the state government decided to develop the six-lane road on its own, through GMDA,” said Narbir on Sunday.<br />
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Narbir was speaking at the inauguration of road carpeting work of the road connecting Sector 10 to Pataudi, which was carried out at a cost of Rs 80 lakh. Narbir also spoke of the upcoming bus stand and railway stations, both of which are being developed to meet “international standards”.<br />
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“Development works worth Rs 10 crore will be carried out in the city in 2018-2019,” said Narbir.<br />
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Making a pitch for the upcoming state elections, he said development at this scale is only possible because the chief minister has got his priorities right and has Gurugram’s best interests in mind. “One could be of any political lineage, but everyone will agree Gurugram has seen a lot of development over the last four years,” said Narbir.<br />
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Source : https://timesofindia.indiatimes.com/city/gurgaon/link-road-expansion-to-cut-travel-time-from-dwarka-expressway-to-hero-honda-chowk/articleshow/64152214.cms</div>
NEOhttp://www.blogger.com/profile/09328212349037731326noreply@blogger.com0tag:blogger.com,1999:blog-9176754754558919742.post-80495550077084573952018-05-03T11:28:00.000+05:302018-05-03T11:28:43.518+05:30HUDA INVITES APPLICATIONS FROM OUSTEES TO ALLOT PLOTS<div dir="ltr" style="text-align: left;" trbidi="on">
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CHANDIGARH: In a bid to settle all oustee claims, the <b>Haryana</b> urban development authority (Huda) will be inviting applications from oustees for allotment of plots by the month-end. The applications will be invited through advertisements.</div>
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J Ganesan, chief administrator, <b>Huda</b>, said, “We are in the process of collecting all the details regarding the plots available, and the oustee numbers in each of our estate offices. As soon as this information is ready we will issue advertisements inviting application from the oustees for allotment of plots. We expect the entire process to be completed in a month.”</div>
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Oustees are people whose lands have been acquired in lieu of allotment of plots, in addition to the compensation received under the Land Acquisition Act.</div>
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The scheme will be exclusively for the oustees.</div>
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Following the directions of Punjab and <b>Haryana</b> high court, <b>Huda</b> will allot plots in a sector to the oustees before the general applicants.</div>
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Settling several contentious issues regarding the oustees’ plot allotments, the HC had earlier directed that if there are any unallotted plots in a sector in the state, they would henceforth be first allotted to the oustees to the extent of reservation in their favour and only thereafter be allotted to the general applicants.</div>
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The HC had also stated that to get a plot under the oustees’ quota, such a person has to apply for the plot and he would not be automatically entitled for allotment of plot without any application.</div>
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In line with the HC order, <b>Huda</b> estate offices will invite application from the oustees. A screening committee headed by administrator, for each estate office, will examine the applications submitted.</div>
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Allotment of plots will be made as per the current price. The price will be calculated as per the <b>Huda</b> formula.</div>
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Allotment of plots to oustees has long been a contentious issue with many approaching courts against policies in place.</div>
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<b>Source : http://paper.hindustantimes.com/epaper/viewer.aspx</b></div>
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NEOhttp://www.blogger.com/profile/09328212349037731326noreply@blogger.com0tag:blogger.com,1999:blog-9176754754558919742.post-18413318855033472792018-05-01T11:07:00.000+05:302018-05-01T11:07:17.101+05:30Finally clears Delhi side Acquisition<div dir="ltr" style="text-align: left;" trbidi="on">
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NEOhttp://www.blogger.com/profile/09328212349037731326noreply@blogger.com0tag:blogger.com,1999:blog-9176754754558919742.post-58138845889546499412018-04-28T12:26:00.001+05:302018-04-28T12:26:43.249+05:30HNI investor eye office space in OBD<div dir="ltr" style="text-align: left;" trbidi="on">
Bengaluru:Bids are soon going to be invited for the sale of around 30,000 sq ft of prime retail and <b>office space</b> in the central business district (CBD) of Bengaluru. The targeted bidders are ultra-rich individuals and family offices.<br />
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Rathnam’s Complex, also popularly called the Jewels de Paragon building, located in the heart of the city, in Lavelle Road, and the base price for the sale is Rs 40 crore for the entire space or a minimum of one of the four floors<br />
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JLL is running the exclusive mandate for the sale.<br />
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The sale of the building comes at a time when United Spirits Ltd, owned by Diageo Plc., is in the process to sell 30,000 sq ft in UB City, a high-end retail and office complex in Bengaluru. JLL, which is running the mandate for the sale, is evaluating nine bids that have been submitted by HNI investors and family offices.<br />
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“There is huge demand for good quality office space in CBD areas. There is a lot of interest among individual, smaller investors to buy <b>office space</b> particularly when there are opportunities in prime locations in a city. Residential sector isn’t doing well and there is no access yet to REITs (real estate investment trusts), so this is a good way of putting money in real estate,” said Juggy Marwaha, executive managing director, JLL India.<br />
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Prime office space in CBD areas across cities up for sale and HNIs and family offices are flocking to buy.<br />
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Over the last few years, individual investors have largely stayed away from making fresh investments in residential projects while struggling to sell off and exit earlier investments, amidst a slowdown scenario that has deeply impacted the housing sector.<br />
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Comparatively, the commercial office segment as an asset class has fared much better, with high demand for such space and huge institutional investor interest.<br />
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ICICI Prudential Real Estate Investments, a division of ICICI Prudential AMC Ltd, recently sold four of its five commercial office investments to ultra-rich individual investors and family offices. Among them are one individual building, and several standalone office units, including a couple of units in Mumbai’s prime office hub Bandra-Kurla Complex.<br />
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The firm had invested around Rs450 crore across five transactions in Mumbai, Pune and Noida for a 550,000 sq. ft portfolio, which was leased to large international tenants. These exits resulted in an internal rate of return (IRR) of 10-21% on the investments.<br />
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An April report by CBRE South Asia Pvt. Ltd reported that during the January-March period, Bengaluru reported the highest demand for office space and accounted for more than the combined share of the markets of Delhi-NCR, Mumbai and Hyderabad.<br />
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Source : https://www.livemint.com/Companies/WxbqUQfKHfs2X5tYT1CCpN/HNI-investors-eye-prime-office-space-in-CBD-areas.html</div>
NEOhttp://www.blogger.com/profile/09328212349037731326noreply@blogger.com0tag:blogger.com,1999:blog-9176754754558919742.post-80438756243138355252018-04-24T12:32:00.000+05:302018-04-24T12:32:32.021+05:30Rs 11,000-cr Eastern Peripheral Expressway to complete in August: Nitin Gadkari<div dir="ltr" style="text-align: left;" trbidi="on">
BAGPAT (UTTAR PRADESH): India's first smart and green highway -- <b>Eastern Peripheral Expressway</b> -- for decongesting Delhi will be completed in August this year, Union Minister <b>Nitin Gadkari</b> said today.<br />
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Prime Minister Narendra Modi will dedicate to the nation the <b>135-km</b>, the nearly Rs 11,000 crore access-controlled six-lane expressway.<br />
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The project is replete with smart and intelligent <b>highway traffic management system (HTMS)</b> and video incident detection system (VIDS) besides a closed tolling system in which the collections will be made only on the distance travelled and not on the entire length.<br />
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"The project, most likely, will be completed in August this year. We have spent a huge Rs 5,900 crore on land acquisition. Once complete, This will reduce traffic congestion in Delhi and will have the best automatic traffic management system, landscaping, besides wayside amenities. We're planting at least 2.5 lakh trees and the expressway will be lit by solar panels," Road Transport and Highways Minister Gadkari said here.<br />
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The Eastern <b>Peripheral Expressway</b> will set a benchmark in highway construction by being environment-friendly with world-class safety features and smart/interactive infrastructure, the minister said.<br />
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The project, which commenced on September 14, 2015 will consume a million tonnes of flyash from NTPC's various thermal plants to utilise waste and minimise pollution.<br />
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The greenfield project, which hit several hurdles and saw laying of its foundation by Prime Minster Narendra Modi on 5 November, 2015, will divert around 2 lakh vehicles passing through the national capital daily to this bypass, cutting out pollution.<br />
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Gadkari, who inspected the project sites in Delhi, Uttar Pradesh and Haryana, said the toll plazas will be equipped with the faster Electronic Toll Collection (ETC) system offering an uninterrupted travel experience to users.<br />
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"The Expressway will be equipped with HTMS which will include Variable Message Signs (VMS), CCTV, VIDS, Warning Devices, Overspeed Checking System, Weigh-in-Motion, Pavement Management Systems and Fibre Optic Network.<br />
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All information collected from HTMS equipment will be relayed to a central server in control room which will, on the basis of input, trigger alarms and change VMS messages etc. This will result in real-time incident management," he said.<br />
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Along the expressway, wayside amenities like petrol pumps, motels, rest areas, restaurants, shops, repair services etc will be developed, he said.<br />
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Landscaping will be done at all the interchanges, major bridges and toll plazas with provision of fountains and lighting and a total of about 2.5 lakh trees of various species will be planted as green belt within row of the Project Expressway, he added.<br />
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Unique features of the project will be rainwater harvesting at every 500 metres on either side of the Expressway and the watering of the plants will be done through drip irrigation, he said.<br />
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In keeping with the Prime Minister's Swachh Bharat Mission, provision of toilets will be made at regular intervals along the <b>expressway</b> on either side at a distance of 25 km, he added.<br />
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The expressway passes through Sonipat, Bagpat, Ghaziabad, Gautam Budh Nagar, Faridabad and Palwal in Haryana and Uttar Pradesh, and the proposed alignment crosses river Yamuna at Khurrampur/Khata in UP and Faizpur Khadar in Haryana and crosses the river Hindon.<br />
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The project will consume 10.2 lakh tonne cement, about one lakh tonne steel, 19 lakh tonnes of sand and 50 lakh tonnes aggregates. Manpower employed is 7,275.<br />
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The project had earlier faced resistance from farmers over land and other issues which have since been solved by giving higher compensation.<br />
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The Supreme Court has directed police chiefs of Uttar Pradesh and Haryana to provide adequate security for expeditious completion of the project.<br />
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The project work has been divided into six packages and are being carried out by Sadbhav Engineering, Jai Prakash Associates, Ashoka Buildcon, Oriential Structural Engineers and Gayatri Project and barring package III, the physical progress of the packages was between 57 and 61 per cent.<br />
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Package III, being built by the debt-laden construction and cement firm Jaiprakash Associates, made only 36 per cent progress.<br />
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There are about 400 structures in this project out of which two major bridges are on river Yamuna and one major bridge on river Hindon and Agra Canal.<br />
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There are 8 interchanges, 4 flyovers, 71 vehicle underpasses, 6 RoBs etc.<br />
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"Eastern Peripheral Highway is just the beginning. We will make 12 such express highways. Three of such highways will be started in 2017 itself," Gadkari said.<br />
Source : <span style="color: #a3aaae; font-family: proxima-nova, Helvetica Neue, Helvetica, Arial, sans-serif;"><span style="font-size: 15.6px;">https://bit.ly/2qSmjfm</span></span><br />
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NEOhttp://www.blogger.com/profile/09328212349037731326noreply@blogger.com0tag:blogger.com,1999:blog-9176754754558919742.post-63538822862424486332018-04-24T10:46:00.000+05:302018-04-24T10:46:45.333+05:30India's Eastern Peripheral Expressway boasts of many firsts, to be ready within 500 days<div dir="ltr" style="text-align: left;" trbidi="on">
NEW DELHI/KUNDLI: The Eastern Peripheral Expressway -- which is expected to provide major relief to Delhi from vehicular pollution -- is set to be completed in a record time of 500 days as against a sanctioned target of 910 days, NHAI officials said.<br />
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The 135-km Expressway will boast of many firsts including a closed tolling system in which toll will be collected only on the distance travelled and not on the entire length, National Highway Authority of India (NHAI) Chief General Engineer ..<br />
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There will also be provision for electronic collection of toll to ensure disruption-free movement of traffic.<br />
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"Apart from that, we have also installed weigh-in motion sensors on all entry points which will ensure that over-loaded vehicles are not allowed to enter the Expressway," he said.<br />
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Normally, weigh-in motion sensors are installed -- if at all they are -- at toll plazas when it is not possible to send the vehicles back. But here, the sensors are installed at all entry points with two gates -- one leading to the Expressway and the other redirecting the vehicle if it is over-loaded.<br />
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"We have also made provision for parking of overloaded trucks where they can unload some of the cargo to satisfy the weight criteria and then move to the Expressway. This is the first expe ..<br />
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To check speeding, cameras have been put up every two kilometres.<br />
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"Over-speeding vehicles will be issued the challan at the toll plaza and the challan amount would be added to the total toll amount. This will be a great deterrent to over-speeding," Singla said.<br />
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While some work is still to be completed on the expressway which connects Palwal with Kundli bypassing Delhi, the Expressway is expected to be inaugurated by Prime Minister Narendra Modi on April 29.<br />
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All NHAI officers that the IANS spoke to expressed confidence in completing the pending work by then.<br />
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NHAI Member (Public Private Partnership) Neeraj Verma said the Expressway will reduce vehicular pollution in Delhi-NCR by around 27 to 28 per cent according to a study.<br />
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"Also, we have made it a green highway with solar panels installed at various locations which will provide power to illuminate the underpasses below the Expressway," he said.<br />
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Also, there are eight solar power plants along the Expressway having a capacity of 4,000 kilowatt. These plants will supply power to the grid and the amenities on the Expressway will take power from the same grid.<br />
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"So in effect we will produce the power that we consume and will have zero operating cost as far as power is concerned," Verma said.<br />
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He added that 33 per cent of the earth work on the highway was done using fly ash from coal power plants thereby compounding its contribution to reducing pollution.<br />
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Singla added that while Road Transport and Highway Minister Nitin Gadkari had ordered him and other officers to complete the work in 400 days as against the sanctioned target of 910 days, the team was able to finish the work in a record time of around 500 days despite several technical and other hurdles.<br />
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Gadkari's close aide Vaibhav Dange said this was achieved because of the personal interest Gadkari took in the project which also led to fast clearances.<br />
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"Every bill of the contractors was paid within 24 hours. Extra manpower was deployed and work was done day and night to complete this project in the record time," he said.<br />
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"And it is not just about completing this in lesser number of days. It's about the change in the attitude where now every stakeholder believes that it can be done," he added.<br />
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The 135-km six-lane access-controlled Expressway is built at a cost of around Rs 11,000 crore and will help decongest the national capital.<br />
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Source : <span style="color: #666666; font-family: Lucida Grande, Arial, Lucida Sans Unicode, sans-serif;"><span style="font-size: 13px;">https://bit.ly/2Fbd9Pu</span></span></div>
NEOhttp://www.blogger.com/profile/09328212349037731326noreply@blogger.com0tag:blogger.com,1999:blog-9176754754558919742.post-76904625270738875052018-04-23T16:07:00.000+05:302018-04-23T16:07:20.480+05:30NHAI plans tram network along Dwarka Expressway<div dir="ltr" style="text-align: left;" trbidi="on">
New Delhi: The National Highways Authority of India (NHAI) is exploring the option of putting a tram or light rail transport system along the Urban Extension Road-II, which will connect NH-1, NH-10 and NH-8, and the upcoming Dwarka Expressway. The road stretches have a combined length of about 83 km.<br />
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"The Delhi Development Authority (DDA) is providing us 90 metres right of way (RoW) for building the UER-II. We will need 60 metres for constructing the road and another 20 metres for greenery. So, we have another 10 metres available for laying track for tram or any other mass public transport facility," an NHAI official said. Similarly, enough land will be available along the <b>Dwarka Expressway</b>.<br />
Officials said the NHAI will soon start a feasibility study to find the traffic demand and which mode of light rail transit will be viable for this stretch. They added that planning such a mode of transport would be timely.<br />
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Sources said the road transport ministry is also looking at it as a pilot to try a public transport facility along the NHs since the stretch will be a big corridor connecting the three major national highways. A faster and cleaner mode of transport will also bring other economic and environmental benefits.<br />
Both the UER-II and <b>Dwarka Expressway</b> are being developed under the new flagship highway programme Bharatmala. Officials said these were priority projects for NHAI.<br />
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However, people who have bought houses along <b>Dwarka Expressway</b> have been protesting against the NHAI for delay in construction of the road.<br />
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NHAI officials said it will take about two years to complete the project. "Land acquisition for a small portion is underway. We have received bids for one package of the project and work will start soon. We have redesigned the expressway," the official said.<br />
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Source : https://bit.ly/2HpDnQ9</div>
NEOhttp://www.blogger.com/profile/09328212349037731326noreply@blogger.com0tag:blogger.com,1999:blog-9176754754558919742.post-51753070127561353802018-04-23T11:36:00.002+05:302018-04-23T11:36:39.515+05:30IGI to get 2 new approach roads in 3 years<div dir="ltr" style="text-align: left;" trbidi="on">
NEW DELHI: Indira Gandhi International Airport will get two new approach roads — one from south Delhi and another from the upcoming <b>Dwarka Expressway</b> — in less than three years. The National Highways Authority of India (NHAI) will build the links at an expense of about Rs 1,350 crore.<br />
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The first link connecting the airport to the proposed interchange at Shiv Murti will be a 1.5 km shallow tunnel which will join the T3 road. This will be a four-lane underground stretch which can be used by commuters from Vasant Kunj, IIT, Munirka and Mehrauli.<br />
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The Shiv Murti interchange will have elevated connectivity to Nelson Mandela Road through Rangpuri. Commuters taking the interchange for NH-8 and the upcoming <b>Dwarka Expressway</b> would be able to use the tunnel to reach T3.<br />
Traffic flow to the IGI Airport complex is expected to increase substantially because of Aerocity, where official and social functions are hosted.<br />
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NHAI officials said the project could be completed in less than three years. Already, the Central Public Works Department is building a bypass for Mahipalpur, which will also have a tunnel connecting the airport near the National Crime Records Bureau office on DelhiGurgaon carriageway.<br />
“We have invited bids for Shiv Murti tunnel costing approximately Rs 350 crore as a part of the first package of Dwarka Expressway. We are hopeful of awarding it next month. NHAI and the civil aviation ministry will share the cost 50:50,” a government official said.<br />
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Similarly, to improve connectivity from the upcoming <b>Dwarka Expresswa</b>y, NHAI will build a 5km link road from Bijwasan railway station up to T3. Speaking at a TOI event in Gurgaon last week, highways minister Nitin Gadkari had said NHAI was working on a plan to provide seamless connectivity to the airport for traffic coming from Manesar as traffic on the route would increase once people started occupying houses along the Dwarka Expressway. This will also be the key link to the upcoming Dwarka convention centre, which will be the biggest in the country.<br />
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“About 3.5 km of this connectivity will be tunnel. It will be a deep tunnel, which will pass beneath the runway like that of Express Metro. It will be a six-lane tunnel. We are preparing the details and it will cost about Rs 1,000 crore. We will be in a position to award this project in the next 6-7 months,” an NHAI official said.<br />
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Get latest news & live updates on the go on your pc with News App. Download The Times of India news app for your device. Read more City news in English and other languages.<br />
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Source : https://bit.ly/2F9d5j0<br />
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NEOhttp://www.blogger.com/profile/09328212349037731326noreply@blogger.com0tag:blogger.com,1999:blog-9176754754558919742.post-27759365836285487112018-04-18T11:43:00.000+05:302018-04-18T11:45:15.851+05:30Last hurdle on Dwarka e-way cleared: Nitin Gadkari<div dir="ltr" style="text-align: left;" trbidi="on">
GURUGRAM: The final hurdle holding up <b>Dwarka Expressway</b> has been cleared, Union cabinet minister Nitin Gadkari said at a town hall with TOI in Gurugram on Monday.<br />
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<tr><td class="tr-caption" style="text-align: center;"><i><b>Union Cabinate Minister Nitin Gadkari</b> </i></td></tr>
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Gadkari, who handles several key portfolios in the Modi government, including road, transport, and highways, held out hope to thousands of homebuyers who have invested in real estate along the expressway only to realise that the project has missed several deadlines and work was stuck in several places.<br />
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It was only recently that National Highways Authority of India (NHAI) under Gadkari took over the project.<br />
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The last hurdle to the 17-km-long expressway was a group of 24 houses whose owners had moved court. This has been resolved, <b>Gadkari told</b> the packed town hall attended by prominent citizens of <b>Gurugram</b>.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiDqUI_zh4ymQHysX-y8EjRJQ_H6nKuCatXEin8mpH6q1DwH4GzZDRTgTAp_pno3K9NQThsovtpmqTT1UI6AdCZP4O_Xl7tsD1ypcebXcB9J1-F2DgyLTZkiQ9ScUQWI-eyoMO3XINHH47Z/s1600/Last+hurdle+on+Dwarka+e-way+cleared.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="613" data-original-width="635" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiDqUI_zh4ymQHysX-y8EjRJQ_H6nKuCatXEin8mpH6q1DwH4GzZDRTgTAp_pno3K9NQThsovtpmqTT1UI6AdCZP4O_Xl7tsD1ypcebXcB9J1-F2DgyLTZkiQ9ScUQWI-eyoMO3XINHH47Z/s1600/Last+hurdle+on+Dwarka+e-way+cleared.jpg" /></a></div>
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Gadkari said his ministry had planned to complete <b>Dwarka Expressway </b>in four packages, three of which have already been awarded. The fourth was pending due to litigation by house owners, but because the issue was now resolved, work will begin on it within a month.</div>
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He also said 10 projects meant to address the city’s traffic issues are currently in progress. Work has started on the <b>Dhaula Kuan to IGI airport</b> corridor. Getting defence ministry to part with their land was tough, he said, but it has now been achieved, and work will be completed within four to five months.</div>
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Citing his experience of traffic jams between Delhi and Gurugram, the minister said banquet halls on both sides of the road often cause snarls. “I’ve asked for a review of the situation with banquet halls that have encroached,” he said, adding these will have to be demolished and service lanes broadened.</div>
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Work on another major project — Metrino pod taxi between Dhaula Kuan and Manesar, which he described as his “dream project” — will begin within one and a half months, he said. The ministry has received tenders from three firms, which are now being assessed.</div>
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Speaking about promoting public transport, he said there is an immediate need to cut down on use of private vehicles.</div>
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On shifting of Kherki Daula toll plaza, he said the ministry has decided upon shifting the toll from its present location towards Jaipur. Once the state government offers an alternative plot to NHAI, work can begin within eight days.</div>
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He added the ministry is mulling over launching double decker buses on the Delhi-Jaipur, Delhi-Chandigarh and other routes, to promote public transport.</div>
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The buses will have airlines-like facilities. He also said NHAI is spending Rs 1,000 crore on underpasses, flyovers and U-turn at the three crossings — Iffco Chowk, Signature Tower and Rajiv Chowk.</div>
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Another major project — Eastern Peripheral Road (EPR), which had been stuck after Haryana government-appointed contractor left the project midway, and none of the state governments paid up their share of the Rs 2,000 crore cost for land acquisition — was completed by NHAI, and is likely to be inaugurated by Prime Minister Modi next week, said Gadkari.</div>
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Union minister of state for chemicals and fertilizers, Rao Inderjit Singh, who is also a Gurugram MP, told the audience that all encroachments were removed from <b>Dwarka Expressway</b> in the past two weeks, and efforts are on to provide alternative plots to house owners who were evicted.</div>
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He requested Gadkari to announce a policy that removed the toll plaza, instead of shifting it elsewhere, adding that toll fees should be collected from vehicle owners at one go, as part of registration charges.</div>
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He also added that a flyover towards Ambience Mall will be built at Shankar Chowk for Rs 170 crore, with DLF and Ambience sharing 25% of the project cost each.</div>
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Senior district administration officials, developers, members from prominent RWAs and social activists attended the event.</div>
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Source : https://bit.ly/2H5QZ2U</div>
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NEOhttp://www.blogger.com/profile/09328212349037731326noreply@blogger.com0tag:blogger.com,1999:blog-9176754754558919742.post-32469851746857112652018-04-16T11:47:00.000+05:302018-04-16T11:47:33.261+05:30Office market witnesses record absorption: CBRE<div dir="ltr" style="text-align: left;" trbidi="on">
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<b>NEW DELHI</b>: Tech corporates led <b>office space</b> take-up during the quarter with a 25% share, while BFSI firms garnered a 24% share. The share of e-commerce firms rose to 15%, thanks to a few large-sized deals by leading global and domestic players. Other sectors that contributed to leasing activity were engineering and manufacturing, research, consulting and analytics and co-working/business centre operators. Pre-commitments continue to be the primary mode of transaction, especially in cities such as Bangalore that had a dearth of quality ready-to-move-in supply.</div>
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Anshuman Magazine, Chairman, India and South East Asia, CBRE said, “India’s <b>office market</b> has begun the year on a strong note, dispelling fears of technology and other disruptions impacting the market. With strong economic fundamentals, constantly improving business environment, and the government’s concerted efforts to improve infrastructure in our cities, India’s attractiveness as a preferred market in the region for international and domestic occupiers has only grown.”</div>
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Commenting on the findings of the report, Ram Chandnani, Managing Director, Advisory & Transaction Services, India, CBRE South Asia Pvt. Ltd. said, “Over the past several quarters, pre-commitments by occupiers in under-construction projects has impacted leasing activity across India’s office market. Constrained supply of ready-tomove-in space, coupled with rising rentals, has led to this trend gaining traction in recent months. The uptick in leasing activity in the first quarter is largely due to several projects getting completed.”</div>
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During the quarter, 45% of all the transactions were for smallsized spaces while mid-sized transactions accounted for a 42% share. There were a few largesized deals, most of which were recorded in Bangalore, followed by a few in Mumbai, Delhi-ncr, Chennai and Hyderabad.</div>
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<b>CITY HIGHLIGHTS FOR Q1 2018:</b></div>
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<b>Delhi-ncr</b></div>
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Gurgaon dominated leasing activity in the city</div>
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New supply consisted of a few medium-sized non-it developments in Gurgaon and an SEZ development along the Noida Expressway</div>
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Leasing activity was primarily driven by the tech sector, followed by corporates from the research, consulting and analytics, and BFSI sectors</div>
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<b>Mumbai</b></div>
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Quarterly leasing activity witnessed an uptick in the city</div>
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More than half of the leasing activity was in the Secondary Business District (SBD) and the Peripheral Business District (PBD) of Powai and Vikhroli</div>
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BFSI firms and co-working operators dominated leasing activity, followed by firms from infrastructure, real estate and logistics</div>
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Rental values remained stable during the quarter</div>
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<b>Bangalore</b></div>
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The city continued to lead the country’s office demand and supply activity</div>
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Quarterly leasing increased significantly due to culmination of pre-commitments and space take-up in recently completed developments</div>
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Leasing activity was primarily driven by BFSI corporates followed by e-commerce, research, consulting and analytics, and tech firms</div>
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Rental values across key markets in the city appreciated marginally during the quarter</div>
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<b>Chennai</b></div>
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Transaction activity was led by small-sized deals, mainly by corporates looking to consolidate/ relocate operations</div>
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Quarterly leasing activity declined marginally while supply witnessed an uptick</div>
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Tech corporates continued to lead demand, in the city</div>
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Rents increased by about 5-7% in IT buildings in OMR Zone I, due to low vacancies and sustained corporate interest</div>
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<b>Hyderabad</b></div>
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After robust activity last year, the city witnessed a marginal decline in leasing activity during the quarter</div>
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Supply addition was limited to one medium-sized development in the extended IT corridor</div>
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Sustained occupier interest resulted in a majority of the quarterly leasing activity being concentrated in the IT corridor of the city</div>
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Tech firms, followed by engineering and manufacturing and healthcare firms, dominated leasing activity</div>
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Rental values increased across all micro-markets, thanks to continued occupier interest and shortage of new supply</div>
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<b>Pune</b></div>
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Supply addition increased on a quarterly basis in the city while leasing activity declined marginally</div>
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Tech firms continued to dominate space take-up, followed by engineering and manufacturing companies</div>
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PBD accounted for more than half of the city’s leasing activity during the review period</div>
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Select micro-markets in the city witnessed quarterly rental growth</div>
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<b>Kolkata</b></div>
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Quarterly leasing activity and new supply addition declined marginally</div>
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Rentals remained stable across all micro-markets</div>
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Demand was largely driven by occupiers from the engineering & manufacturing, and telecommunication sectors, followed by BFSI and co-working firms</div>
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Leasing activity was primarily concentrated in EM Bypass and Ruby Connector in SBD and Salt Lake V and Rajarhat in PBD</div>
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A strong first quarter is indicative of the sustained growth of India’s office market across key cities. While the share of tech firms in overall demand could drop further as technology disruptions impact headcount growth, the increasing share of other sectors including BFSI, engineering and manufacturing and research and consulting will balance the overall market performance in the long term.</div>
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In some cities, this rental growth will be witnessed across all micro-markets, while in others it will be in core locations only.</div>
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Source : https://bit.ly/1jQEVSs</div>
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NEOhttp://www.blogger.com/profile/09328212349037731326noreply@blogger.com0tag:blogger.com,1999:blog-9176754754558919742.post-62019862080828342802018-04-13T11:41:00.000+05:302018-04-13T11:41:06.403+05:30Huda razes all residences obstructing e-way project<div dir="ltr" style="text-align: left;" trbidi="on">
The space was cleared after a fortnightlong demolition drive that faced resistance from some of the house owners.<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh9oL7C8VoG0EORZ5JhPWVbSXysthKHz8gfrNQqAP6R4FahMH8KBeKvLaQCplnK6YN4h06SgC03B07QrZBQPRr7GM0R9NT2TxOzz6KUOXrPOV4KupSrnCfINDi9DfZcom0d9dK3jvNXTtAR/s1600/huda.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em; text-align: center;"><img border="0" data-original-height="425" data-original-width="597" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh9oL7C8VoG0EORZ5JhPWVbSXysthKHz8gfrNQqAP6R4FahMH8KBeKvLaQCplnK6YN4h06SgC03B07QrZBQPRr7GM0R9NT2TxOzz6KUOXrPOV4KupSrnCfINDi9DfZcom0d9dK3jvNXTtAR/s1600/huda.jpg" /></a><br />
<span style="font-size: x-small;"><b> The space was cleared after a fortnight-long demolition drive that faced resistance from some of </b></span><br />
<span style="font-size: x-small;"><b> the house owners.The Huda enforcement wing inspected the area on Tuesday.</b></span><br />
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HS Jakhar, sub-divisional officer (SDO), Huda enforcement, said, “Road construction on the remaining 1.4 kilometre stretch is underway. Presently, soil filling work is on. All 69 houses were removed successfully by our officials in the last fortnight.”<br />
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“We must thank the owners of these dwelling units for their proactive approach — removing their construction malba (waste) on their own. All of these 69 houses had sale deeds,” he added.<br />
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“There are nearly 30 more houses with general power of attorney (GPA) that we have not been able to remove due to court cases. The matter of the GPA houses is pending in the Punjab and Haryana high court. The next hearing is on April 24. The Huda has to transfer land to the National Highways Authority of India (NHAI), which will start the construction of the proposed elevated road on the NPR,” said Jakhar.<br />
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The Huda transferred the NPR to the NHAI in October 2016.By that time, the Huda had built 16.6 kilometres of the 18-kilometre-long NPR between the New Delhi-gurugram border near Dwarka and the national highway (NH) near <b>Kherki Daula</b> toll in <b>Gurugram</b>.<br />
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After the NHAI took over the NPR, the alignment was extended from the border to Shivmurti, NH, Mahipalpur, with a total length of 28 kilometres, on which the NHAI proposed a 23-kilometre-long elevated road.<br />
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After the NHAI took over the construction of the expressway, it also demanded the handover of encumbrance-free land in the remaining 1.4 kilometre stretch at New Palam Vihar to start the construction.<br />
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“There are over 200 houses with GPA, the plots or land, which fall in the NPR alignment. The matter is in the high court and until it is in litigation, the Huda cannot claim to have taken custody of the total land in the NPR alignment,” said Pravin Kumar, an oustee.<br />
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“The Huda has failed to provide sewer, water, roads and electricity in Sector 110A, where it has allotted alternative plots to oustees. The Huda has committed a mistake by demolishing our houses,” he added.<br />
Source : https://bit.ly/2HdjGyf</div>
NEOhttp://www.blogger.com/profile/09328212349037731326noreply@blogger.com0tag:blogger.com,1999:blog-9176754754558919742.post-17310298204882200432018-04-06T11:40:00.000+05:302018-04-06T11:42:12.381+05:30TOP developers likely to benefit from reforms<div dir="ltr" style="text-align: left;" trbidi="on">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhYBfrfikfBSvqEaoW1ifIaC5Uir2tCrJOm050I7E7Wd9piOjMHKVvVi5ga7gdh3HRWW_iM1-XUlzO4_Rc9fuCEkC5fvqR64p8Wzpd1p8ODsfARDphAMrNiv1uAIl8ji8MtIMfS3Ln_u5OK/s1600/stock+image1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1600" data-original-width="755" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhYBfrfikfBSvqEaoW1ifIaC5Uir2tCrJOm050I7E7Wd9piOjMHKVvVi5ga7gdh3HRWW_iM1-XUlzO4_Rc9fuCEkC5fvqR64p8Wzpd1p8ODsfARDphAMrNiv1uAIl8ji8MtIMfS3Ln_u5OK/s1600/stock+image1.jpg" /></a></div>
Source : <span style="color: #a3aaae; font-family: , "helvetica neue" , "helvetica" , "arial" , sans-serif; font-size: 15.6px;">https://bit.ly/2Izav7Z</span></div>
NEOhttp://www.blogger.com/profile/09328212349037731326noreply@blogger.com0tag:blogger.com,1999:blog-9176754754558919742.post-16451340507345616182018-03-31T13:38:00.000+05:302018-03-31T13:38:54.244+05:30New Gurgaon: A vibrant residential and commercial hub in NCR<div dir="ltr" style="text-align: left;" trbidi="on">
<b>Fuelled by affordable property, good connectivity, and an upsurge in the development of infrastructure, New Gurgaon is fast emerging as a vibrant residential and commercial hub in the NCR</b><br />
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<span style="background-color: white; color: #4a4949; font-family: "Segoe UI", Frutiger, "Frutiger Linotype", "Dejavu Sans", "Helvetica Neue", Arial, sans-serif; font-size: 10.8px; font-style: italic;">— Mamta Sinha</span><br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg8-grhfMIR8prRA_S8C851r-Q-OrDGOKLsI20uqwTL4ahgvxknzTQEpGTVvy9Y14eK8yNhi5yMuGSXfdD_ba-7gVqZ3iJ73Xps1m3h2f6YmZgUfjynIjUDql0WJCWsFkJGSHXCO3eeTB7E/s1600/new+gurgaon.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="380" data-original-width="677" height="223" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg8-grhfMIR8prRA_S8C851r-Q-OrDGOKLsI20uqwTL4ahgvxknzTQEpGTVvy9Y14eK8yNhi5yMuGSXfdD_ba-7gVqZ3iJ73Xps1m3h2f6YmZgUfjynIjUDql0WJCWsFkJGSHXCO3eeTB7E/s400/new+gurgaon.jpg" width="400" /></a></div>
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Industry experts say that although delay in the completion of Northern Peripheral Road has resulted in slow activities in this area, New Gurgaon, nevertheless, is becoming habitable with the completion of a number of projects.<br />
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“Sectors close to the national highway are registering good movement. People working in the offices located at National Highway Toll Plaza prefer this area due to the proximity to their office location. Affordability is also one factor that is driving demand in this area. Social amenities like local markets, schools, etc, are also developing fast with families living in this newly developed area,” says Surabhi Arora, senior associate director (research) at Colliers International India.<br />
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New Gurgaon, in fact, has a fair mix of residential and commercial properties. Accessibility from three highways, namely – National Highway 8, Dwarka Expressway (more commonly known as Northern Periphery Road), and KMP Highway – will make it an ideal location in the future.<br />
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In the last two years, developers like DLF, Vatika, Bestech, Orris, and Emaar have given possession of housing projects which offer low to medium ticketsize residential options to end users.<br />
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Harinder Dhillon, VP (sales) at DLF, says: “New Gurgaon has emerged as a preferred choice in the Delhi NCR for buyers in the last few years. The area is strategically located between Manesar, Gurugram, and Delhi with direct connectivity to NH-8. The spate of recent infrastructural developments in the area like Southern Peripheral Road (SPR), Dwarka Expressway, and Kundli-Manesar-Palwal Expressway, once complete, will bolster connectivity. With significant habitation even today, the occupancy rates in the zone are expected to increase rapidly with the new infrastructural developments fully in place.”<br />
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Developers say that because of these advantages, the area is developing rapidly and is emerging as a vibrant residential and commercial hub in the NCR.<br />
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“A recent report by real estate consultancy Knight Frank has identified New Gurgaon as one of the Top 10 residential destinations in India, from an investment point of view, up to 2020. The region has many ready-to-move-in apartments and other social infrastructure, hence swelling its demand for the real estate sector,” Rahul Singla, director of Mapsko Group, says.<br />
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Availability of a plenty of options makes New Gurgaon a preferred choice among end users. “In terms of commercial real estate development, too, a number of projects have been planned here. However, in my opinion, it will take some time for this location to emerge as a top commercial destination,” Surabhi Arora says.<br />
Source : https://bit.ly/2lYuT96</div>
NEOhttp://www.blogger.com/profile/09328212349037731326noreply@blogger.com0tag:blogger.com,1999:blog-9176754754558919742.post-12171445123979377562018-03-27T14:46:00.000+05:302018-03-27T14:46:26.681+05:30Dwarka expressway: 23km stretch planned as elevated section<div dir="ltr" style="text-align: left;" trbidi="on">
Elevated road will merge with surface road for entry and exit only; two tolls proposed of the total road length of 29km of the Northern Peripheral Road (NPR), which is crucial to decongesting the Gurgaon and New Delhi and offering hassle-free commute to long-distance travellers, the National Highways Authority of India (NHAI) plans to make 23km elevated.<br />
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“In addition to the two railway overbridges (ROBs) on the entire stretch from Shiv Murti on NH-48 to a spot near the Kherki Daula Toll, 23.12km of the road will be elevated. The elevated road will merge with the surface road for entry and exit purposes only. The purpose of the elevated road is to provide hassle-free commute to distant commuters,” said Udeep Singhal, NHAI project director for the NPR.<br />
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The NPR, which is more popularly known as the Dwarka Expressway, is crucial to offering high speed connectivity to commercial vehicles that form a large chunk of the traffic that is forced to cut through the Delhi city to access other states.<br />
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The expressway will start from Shiv Murti near Mahipalpur in New Delhi and end on the Delhi-Gurgaon Expressway near Kherki Daula Toll. Of the 29km stretch, nearly 23km would be elevated including two railway over bridges (RoBs), one of which has been constructed in Basai.<br />
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“The Delhi-Gurgaon Expressway on NH-48 is a part of the Delhi-Jaipur-Ahmedabad-Mumbai arm of Golden Quadrilateral (GQ) stretch, is presently carrying traffic of over 3 lakh passenger car units (PCUs) per day, which is much the beyond design capacity of this eight-lane highway leading to severe congestion. An alternate expressway will provide relief from this congestion,” an NHAI official close to the project said seeking anonymity.<br />
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The NHAI official said that the Expressway is also proposed to provide connectivity to IGI Airport from Dwarka. In addition, it would provide direct access via a tunnel to the upcoming 90-hectares ECC in Dwarka, Sector 25.<br />
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The official added that land is being acquired in Delhi to start construction of the Dwarka Expressway in April.<br />
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In 2007-08, the Haryana urban development authority (Huda) had conceived the NPR as an 18-km road as part of the master plan, ‘Gurgaon Manesar Urban Complex 2031’, while carving out new Sectors 81 to 115. The road was planned from New Palam Vihar near Delhi border to near Kherki Daula Toll.<br />
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The purpose of the NPR was to provide an alternate route to the Indira Gandhi International Airport and improve connectivity of Gurgaon and Delhi via Dwarka.<br />
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In 2011, Huda awarded construction tender to JSR Construction Pvt Ltd and Indiabulls Construction Limited with a completion time of March 31, 2012.<br />
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By 2015, the Huda completed 16.6km in Gurgaon, but the work never began in Delhi due to land acquisition issues. Remaining 1.4km stretch in Gurgaon also got stuck due to litigation.<br />
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In October 2016, the Haryana government handed over the NPR to the NHAI after which the authority re-conceived it as a 29-km elevated expressway.<br />
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“Hurdles are almost cleared and foundation stone for construction of the expressway is to be laid for sure. The expressway is an urgent requirement of the two cities to decongest NH-48 and improve intra-city connectivity. The perennial traffic jam Kherki Daula, Sirhaul, Rajokri flyover, Link Road, and Shivmurti, all will become smooth. The project has been delayed due to land litigation in New Palam Vihar. Now, litigation is at its end. Soon, Huda will hand over the land to NHAI,” said Union minister of state and Gurgaon MP Rao Inderjit Singh.<br />
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Chander Shekhar Khare, Huda (Gurgaon) administrator, said, “We have almost demolished all structures falling in alignment of the NPR in New Palam Vihar and we will handover the land soon to NHAI.”<br />
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Though the NHAI awarded the construction work to two contractors last week, many homebuyers who invested in sectors along the NPR, remain unsure.<br />
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“The NHAI official has told us repeatedly that encumbrance-free land is required to start construction. So till stay (from Punjab and Haryana high court) is in force, we do not believe work would start,” said Prakhar Sahay, a homebuyer.<br />
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Box: NPR: Then and now<br />
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A timeline of how the <b>Dwarka Expressway</b> project developed into the 29-km stretch that it is today<br />
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2007: The Haryana urban development authority (Huda) conceives the Northern Peripheral Road (NPR) project, more popularly known as the <b>Dwarka Expressway</b>, as a bypass of the NH-8 (now NH-48)<br />
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2010: Oustees move Punjab and Haryana High Court. Matter related to GPA/SPA holders still pending before court<br />
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2011: Huda awards the construction work to JSR and Indiabulls, with April, 2012, as the completion deadline<br />
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2014: 16.6 kms of the total road length is complete, work on a 1.4-km long portion gets stuck due to litigation over acquired land<br />
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2016, October: Huda hands over the project to the National Highways Authority of India (NHAI)<br />
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2018: The NHAI now plans to develop 25km of the expressway as elevated road which would meet the surface at various points to allow for entry and exit. Multi-level interchanges have been proposed at major intersections to monitor traffic movement, for incident-management and toll collection<br />
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April 2018: Prime Minister Narendra Modi expected to lay the foundation stone for the revised project<br />
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18km initial road length as planned by Huda<br />
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29km road length as revised by NHAI. The road starts from Shivmurti at Mahipalpur (NH-48) in New Delhi to a spot near the Kherki Daula toll (Toll 42)<br />
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18.9km road length in Haryana<br />
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10.1km road length in Delhi<br />
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2 No. of tolls on the road<br />
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Source : <span style="color: #a3aaae; font-family: proxima-nova, Helvetica Neue, Helvetica, Arial, sans-serif;"><span style="font-size: 15.6px;">https://bit.ly/2I6fdtU</span></span></div>
NEOhttp://www.blogger.com/profile/09328212349037731326noreply@blogger.com0tag:blogger.com,1999:blog-9176754754558919742.post-9861196960933520512018-03-19T12:22:00.001+05:302018-03-19T12:22:29.996+05:30Gurgaon: NHAI invites tenders for elevated road on Dwarka Expressway, construction may start in April<div dir="ltr" style="text-align: left;" trbidi="on">
Invites tender for 10km elevated road between Delhi-Gurgaon border, Basai railway overbridge<br />
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The construction of the Northern Peripheral Road (NPR), popularly known as the Dwarka Expressway, is likely to start next month as the highways authority has initiated the process of inviting tenders for an elevated road.<br />
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Simultaneously, efforts are being made to settle litigations to clear land for the project that was initiated in 2007.<br />
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The biggest road block in completion of the <b>Dwarka Expressway</b> has been transfer of litigation-free land from the Haryana government to the NHAI.<br />
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“A week ago, the National Highways Authority of India (NHAI) opened tender for the construction of the proposed elevated road on the Dwarka Expressway. Hopefully, construction (of the elevated road) would commence anytime in April. By that time, Huda is making efforts to vacate the stay on land falling in alignment of the expressway in New Palam Vihar,” said Rao Inderjit Singh, Union minister of state and Member of Parliament from Gurgaon.<br />
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Besides opening of tender, the Haryana urban development authority (Huda) has also started the process of demolishing structures affecting the road’s alignment.<br />
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While the Huda has demolished one house that was affecting the road’s alignment, it has given compensation to all 70 house owners and served notices cautioning them to vacate by Monday, March 20, or face action.<br />
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The Huda has also decided to file a petition in the Supreme Court to vacate the stay granted by Punjab and Haryana high court on acquiring land from plot owners with general and special power of attorneys (GPA-SPA) for the NPR project.<br />
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“We will move a petition in the Supreme Court to vacate high court stay soon to acquire land,” said Chander Shekhar Khare, administrator Huda, Gurgaon.<br />
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Meanwhile, the NHAI-appointed consultants have started site inspection of the expressway.<br />
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“The government at the centre and the states (Delhi and Haryana) are trying their best to resolve litigation affecting land acquisition. However, NHAI has opened its tender as sign of positive development in this regard,” said a senior NHAI official, requesting anonymity.<br />
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With this, investors who bought plots and flats along the <b>Dwarka Expressway</b> are hopeful that the NHAI would commence construction of the proposed elevated road between Delhi-Gurgaon border and Basai railway overbridge (ROB) in April.<br />
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The developers of housing complexes along the proposed road have not completed projects, which are delayed by three to five years, due to inordinate delay in completion of the Dwarka Expressway.<br />
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This delay has also affected the spread of basic civic amenities to such as sewer, water, roads and electricity connections, in the area.<br />
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“Huda has not been able to acquire a small portion of land in New Palam Vihar since a few houses of oustees, who have purchased land on GPA/SPA are yet to be vacated. Huda went out of its way and allotted alternate plots to these oustees, but the allotment has been stayed by Punjab and Haryana high court. Fate of over one lakh legitimate homebuyers and a ₹7,500 crore project of national importance lies in the hands of the court today,” said Manish Grover, member of the Dxp Welfare Association.<br />
Source : <span style="color: #a3aaae; font-family: proxima-nova, "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: 15.6px;">http://bit.ly/2FK8QQe</span></div>
NEOhttp://www.blogger.com/profile/09328212349037731326noreply@blogger.com0tag:blogger.com,1999:blog-9176754754558919742.post-91534736222653831952018-03-14T12:03:00.000+05:302018-03-14T12:03:30.114+05:30NHAI Awards Rs 1,047 cr Dwarka Expressway Package to L&T Under Bharatmala Project<div dir="ltr" style="text-align: left;" trbidi="on">
<i><b>The National Highways Authority of India (NHAI) has awarded to L&T one of the five packages of Rs 7,500 crore Dwarka Expressway project in Haryana under the Bharatmala project, the government said today.</b></i><br />
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The National Highways Authority of India (NHAI) has awarded to L&T one of the five packages of Rs 7,500 crore Dwarka Expressway project in Haryana under the Bharatmala project, the government said today. The package to build eight-lane expressway from Basai RoB to NH 8 – SPR intersection in Haryana will be executed at a cost of Rs 1,047 crore under EPC (engineering, construction and procurement) mode, Ministry of Road Transport and Highways said in a statement.<br />
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“The NHAI has issued Letter of Award – LOA for Package-4 of <b>Dwarka Expressway</b> from Basai RoB to NH-8 – SPR intersection in Haryana on EPC under Bharatmala Pariyojna…This eight-lane Expressway (NH-248 BB) will be constructed on EPC Mode at a cost of Rs 1047.007 crore. The 8.76 km stretch of the road will be constructed by L&T,” the statement said.<br />
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Development of this section of <b>Dwarka Expressway</b> will ensure seamless and safe movement of traffic between Delhi-Gurgaon and help in decongestion of the Delhi-Gurugaon Expressway, it said. The project comprises of 8-lane elevated structure for main carriageway of Dwarka Expressway, Trumpet Interchange for Manesar Road and Cloverleaf interchange with NH-8-SPR intersection.<br />
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The completion period of the project is two years with maintenance period of four years. Under the project, a minor bridge will be widened, additional ROBs, five VUP (vehicle underpass), six Bus Bays with Bus Shelter will be erected and four Junction Improvements will be carried out, it said. “Dwarka Expressway has to be implemented in 5 Packages.<br />
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The first package of 5.3 kms is from Shiv Murti to RuB, the second of 4.2 kms from RuB to Haryana border, package 3 from Haryana border to BasaiRoB – 10.2 Kms, package 4 from Basai RoB to NH-8 – SPR intersection – 8.77 Kms, and the fifth package – 5 kms of Western Airport Connectivity from Dwarka Expressway through tunnel,” the statement said. The Expressway is proposed to be built at an estimated expenditure of Rs 7,500 crore. P<br />
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Source : The National Highways Authority of India (NHAI) has awarded to L&T one of the five packages of Rs 7,500 crore Dwarka Expressway project in Haryana under the Bharatmala project, the government said today.<br />
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The National Highways Authority of India (NHAI) has awarded to L&T one of the five packages of Rs 7,500 crore <b>Dwarka Expressway project in Haryana </b>under the Bharatmala project, the government said today. The package to build eight-lane expressway from Basai RoB to NH 8 – SPR intersection in Haryana will be executed at a cost of Rs 1,047 crore under EPC (engineering, construction and procurement) mode, Ministry of Road Transport and Highways said in a statement.<br />
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“The NHAI has issued Letter of Award – LOA for Package-4 of Dwarka Expressway from Basai RoB to NH-8 – SPR intersection in Haryana on EPC under Bharatmala Pariyojna…This eight-lane Expressway (NH-248 BB) will be constructed on EPC Mode at a cost of Rs 1047.007 crore. The 8.76 km stretch of the road will be constructed by L&T,” the statement said.<br />
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Development of this section of Dwarka Expressway will ensure seamless and safe movement of traffic between Delhi-Gurgaon and help in decongestion of the Delhi-Gurugaon Expressway, it said. The project comprises of 8-lane elevated structure for main carriageway of Dwarka Expressway, Trumpet Interchange for Manesar Road and Cloverleaf interchange with NH-8-SPR intersection.<br />
<br />
The completion period of the project is two years with maintenance period of four years. Under the project, a minor bridge will be widened, additional ROBs, five VUP (vehicle underpass), six Bus Bays with Bus Shelter will be erected and four Junction Improvements will be carried out, it said. “Dwarka Expressway has to be implemented in 5 Packages.<br />
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The first package of 5.3 kms is from Shiv Murti to RuB, the second of 4.2 kms from RuB to Haryana border, package 3 from Haryana border to BasaiRoB – 10.2 Kms, package 4 from Basai RoB to NH-8 – SPR intersection – 8.77 Kms, and the fifth package – 5 kms of Western Airport Connectivity from Dwarka Expressway through tunnel,” the statement said. The Expressway is proposed to be built at an estimated expenditure of Rs 7,500 crore. P<br />
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NEOhttp://www.blogger.com/profile/09328212349037731326noreply@blogger.com0tag:blogger.com,1999:blog-9176754754558919742.post-28074252654033860652018-03-12T11:21:00.001+05:302018-03-12T11:21:38.265+05:30India’s largest toll plaza with 40 lanes proposed at Sehrawan<div dir="ltr" style="text-align: left;" trbidi="on">
GURUGRAM: India’s largest toll plaza will come up at Sehrawan, about 11km from <b>Kherki Daula</b>, if NHAI gets land for it from the district administration. The toll plaza will have 40 lanes, NHAI officials said on Saturday.<br />
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Each lane will be made at a cost of Rs 9 lakh, TOI has learnt. The Gurugram-Delhi Expressway (Sirhaul) toll plaza with 32 lanes was the biggest in India before it was scrapped in 2014.<br />
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According to NHAI officials, the 40-lane toll plaza that has been proposed at Sehrawan will ensure less traffic congestion than the Kherki Daula toll plaza which has 23 lanes.<br />
However, the proposal to shift the Kherki Daula toll plaza to Sehrawan has been facing flak from environmentalists who claim the land is a forest area and wildlife corridor.<br />
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The district administration is yet to get the forest clearance for the land but has allotted 65 acres, including 59 acres under Manesar village, 5 acres under Sehrawan and one acre under Kakrola, for the new toll plaza.<br />
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The shifting of the <b>Kherki Daula toll plaza</b> was officially announced in 2017 by Union minister for road transport and highways Nitin Gadkari after talks on the matter for over two years. The district administration allotted land for it in Sehrawan in December 2017.<br />
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Ashok Sharma, NHAI project director, Gurugram, said, “We have not received land for the Sehrawan toll plaza yet.”<br />
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MD Malla, managing partner of Malla Consulting, consultant for the project, said, “NHAI will need 65 acres for the toll plaza, including portions of Kakrola, Sehrawan and Manesar. The toll plaza will run for 1.3 km on the NH8, starting from the point which is at a distance of 51.9 km from ISBT and ending at the 53.2-km point. The highway will be widened for the toll plaza, starting from the Government Polytechnic College in Manesar.”<br />
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In 2014, the 32-lane Sirhaul toll plaza was removed after all parties concerned, including NHAI, expressway operator Delhi-Gurugram Super Connectivity Ltd (DGSCL) and lead banker for the project, Infrastructure Development Finance Company, reached a mutual settlement at the end of a prolonged legal battle in which charges of financial irregularities were levelled against DGSCL.<br />
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Source : http://bit.ly/2FyDKGV</div>
NEOhttp://www.blogger.com/profile/09328212349037731326noreply@blogger.com0tag:blogger.com,1999:blog-9176754754558919742.post-68854472071584687122018-03-08T12:28:00.000+05:302018-03-08T12:29:41.315+05:30 Blackstone in talks to buy three malls to push retail realty play<div dir="ltr" style="text-align: left;" trbidi="on">
US-based private equity major Blackstone Group is stepping up efforts to spread its retail real estate assets footprint across the country and is currently in talks to acquire three retails malls, said two persons familiar with the development.<br />
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These proposed acquisitions spread over around 2 million sq ft will push Blackstone’s retail portfolio from 5.1 million sq ft to over 7 million sq ft, making it the largest retail mall operator in India<br />
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“To support the next level of growth in retail portfolio, Blackstone is eyeing opportunities in both tier-I and -II cities. The sizes of these assets vary from 2 lakh sq ft to 1 million sq ft, depending on the location that makes them commercially viable,” said one of the persons mentioned above.<br />
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Blackstone, through its retail subsidiary Nexus Malls, has charted out an aggressive plan to expand its current portfolio of eight retail malls acquired over the past two years. The private equ ..<br />
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Blackstone has recently roped in former managing director of Godrej Consumer Products and Hindustan Unilever’s executive director — New Ventures, Dalip Sehgal as CEO at Nexus Malls, to help its strategy to grow retail assets portfolio.<br />
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“We are committed to grow our retail portfolio and bring in the best management talent to provide high quality experience for both our customers and retail partners. Dalip is a seasoned professional with over 38 years of consumer facing experience and I h ..<br />
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Both Parikh and Sehgal, however, declined to comment on the proposed acquisitions. As part of the new assignment, Sehgal would be focusing on accelerating the growth trajectory of the business and building a best in class retail business.<br />
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“Our current annual sales from existing assets is around Rs 3,000 crore and we are on track to achieving 15-20% annual growth in this number for the next couple of years. We are currently upgrading the consumers’ experience at all of our properties,” S ..<br />
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Blackstone’s current portfolio of retail assets include 1.15-million-sq-ft Elante Mall in Chandigarh, nearly 1-million-sq-ft Seawoods Grand Central Mall in Navi Mumbai and two assets each in Indore and Pune. In November 2015, it had also acquired two malls in Amritsar and Ahmedabad from Alpha G Corp.<br />
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Over the past few years, Blackstone has emerged as the most aggressive institutional investor in India’s real estate sector, picking up properties across major cities in deals that are turn ..<br />
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The private equity player established its India office in August 2005, and since then has committed over $7 billion to companies in the country.<br />
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In its real estate portfolio, Blackstone has over 27 investments that own 56million sq ft across 28 operating office and non-office assets. Of its total $4.1 billion real estate investments, it has invested $2.8 billion in office real estate assets, while $1.3 billion has gone towards non-office real estate assets. It also has 19.2 million sq ft ..<br />
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Large global institutional investors, including Blackstone Group, Brookfield Asset Management, GIC, Canada Pension Plan Investment Board (CPPIB), Goldman Sachs and Qatar Investment Authority have been investing aggressively in Indian real estate assets over the past few years.<br />
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After a few years of reduced focus on retail real estate, private equity firms have set their eyes again on retail real estate assets in the backdrop of rising consumption levels and strategy to diversify their in ..<br />
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With an aim to creating a portfolio of assets as the Indian market expands, some of the leading global private equity and sovereign funds, including Blackstone Group, Canada Pension Plan Investment Board (CPPIB), APG Asset Management, Xander Group and GIC have started investing in retail real estate, and this trend is expected to strengthen further.<br />
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NEOhttp://www.blogger.com/profile/09328212349037731326noreply@blogger.com0tag:blogger.com,1999:blog-9176754754558919742.post-29448205351737889632018-03-01T10:44:00.000+05:302018-03-01T10:44:02.073+05:30DLF gets 11.76-acre Gurgaon Plot with Record Rs 1,496 Crore Bid<div dir="ltr" style="text-align: left;" trbidi="on">
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<a href="https://propertyatneodevelopers.files.wordpress.com/2018/02/dlf-news.png" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="dlf news" border="0" class=" size-full wp-image-3065 alignleft" height="134" src="https://propertyatneodevelopers.files.wordpress.com/2018/02/dlf-news.png" width="376" /></a>In a closely contested auction, DLFBSE 1.19 % has emerged as the highest bidder for a land parcel put by Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) spread over 11.76 acres in Gurgaon for a record Rs 1496 crore, said three persons familiar with the development. </div>
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The company is expected to pay an additional Rs 143 crore for Transit-Oriented-Development rights. DLF will also have to pay Rs 120 crore for registration of the land parcel, taking the total deal value to Rs 1,759 crore, against the reserve price for the land parcel that was set at around Rs 686 crore. </div>
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This is an unprecedented price for a land parcel in the National Capital Region. The deal concluded through an e-auction on Monday night, at a base price of over Rs 127 crore per acre, has surpassed all earlier benchmarks.</div>
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DLF and Bharti Realty had emerged as the contenders in the final round out of more than half a dozen developers, including Indiabulls Real Estate, Experion Developers, Emaar Group, Embassy Group and RMZ showing interest in this land parcel.</div>
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The second highest bid made by Bharti Realty stood at Rs 1,446 crore. </div>
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An HSIIDC official, who requested anonymity, confirmed that a subsidiary company of DLF has emerged as the highest bidder with Rs 1,496 crore. An email sent to DLF remained unanswered till the time of going to press on Tuesday.</div>
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As per the bid terms, the allotment letter for the said land parcel will be issued to Aadarshini Real Estate Developers, subsidiary of DLF Home Developers upon payment of 10% of the quoted amount. The balance amount can be paid in installments as per the terms of bid document, DLF said in a regulatory filing.
In November, global home furnishing company Ikea had bought a 10-acre land parcel in Gurgaon for Rs 842 crore through an e-auction conducted by HUDA, the Haryana government’s development agency. </div>
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The land parcel is located on NH8 behind Oberoi Hotel in Guragaon, and has the potential to develop both commercial and retail spaces.
“This is an extension of the established DLF Cyber City micro market and the deal reconfirms DLF’s long–term commitment to retain control over this NH8 cyber city micro market in terms of pricing, supply and occupier profile,” said Ankur Srivastava, chairman, GenReal Property Advisors. “It allows DLF to revalue its undeveloped FSI in this micro market while using this auction as a benchmark.”</div>
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“This is an extension of the established <strong>DLF Cyber City</strong> micro market and the deal reconfirms DLF’s long–term commitment to retain control over this NH8 cyber city micro market in terms of pricing, supply and occupier profile,” said Ankur Srivastava, chairman, GenReal Property Advisors. </div>
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“It allows DLF to revalue its undeveloped FSI in this micro market while using this auction as a benchmark.”
The said 11.76 acre land parcel has a leasable potential of around 2.3 million sq ft. The plot has base floor space index of 1.75 times, which would get double to 3.5 times after factoring the benefit of Transit Oriented Development (TOD) rights. </div>
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DLF is expected to push this development into DLF Cyber City Developers Ltd (DCCDL), its joint venture with Singapore sovereign fund GIC. Promoters of DLF have sold their 33.34% stake in its rental arm DLF Cyber City Developers Ltd (DCCDL) to GIC for Rs 8,956 crore. The transaction was concluded on December 26, and the company now holds the balance 66.66% in DCCDL.</div>
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Currently, the rental arm's portfolio includes leased space of 27 million sq ft and nearly 4 million sq ft under construction. The joint entity also has access to land bank that has additional development potential of 19 million sq ft.</div>
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According to industry experts, the successful bidder will have to lease spaces in proposed development on this plot in the range of Rs 150 to Rs 160 per sq ft a month to achieve a breakeven, given the high amount of bid. Currently, office space lease rentals in this vicinity are around Rs 110 per sq ft and a right mix of retail and commercial development may help the company fetch the expected average lease rentals.</div>
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Source : http://bit.ly/2GP5QOr</div>
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NEOhttp://www.blogger.com/profile/09328212349037731326noreply@blogger.com0tag:blogger.com,1999:blog-9176754754558919742.post-52397292890560150022018-02-23T11:24:00.001+05:302018-02-23T11:24:58.453+05:30Japan’s Sumitomo Enters Indian Realty Sector with $2 billion Gurgaon Projects<div dir="ltr" style="text-align: left;" trbidi="on">
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Japanese conglomerate Sumitomo Corp today announced USD 2 billion township project in Gurgaon as it forayed into <strong>Indian real estate</strong> sector in collaboration with local partner Krishna Group.<div>
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The 50:50 joint venture, Krisumi Corporation Pvt Ltd will build 5,000 flats, shopping mall, office space and educational institution at 65-acre land in Sector 36-A, <strong>Gurgaon</strong> abutting the Delhi-Mumbai industrial corridor's Global City.<div>
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The project, which will have a total built-up area of 18-18.5 million square feet, will be developed in phases, the two partners announced at a media round table today.</div>
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"I want to create a Japanese city here...The first phase will comprise 1.2 million square feet of</div>
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built-up, consisting of 430-450 apartments and will be completed in 4-5 years," said Ashok Kapur, Chairman, Krisumi Corp.</div>
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Krishna Group, a diversified business house with interests in auto components, media, travel, and entertainment seating, owns the 65-acre land parcel where the mini-township will be built, said Kapur, who is also the head of the Group.</div>
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"Idea is to create a niche which Indian market had not seen," Kapur said adding the apartment that may cost Rs 1-2.5 crore will have quality and facilities equivalent to those costing Rs 15-20 crore at present.
Sumitomo Corp, which has done 300 real estate projects globally, will bring in the expertise and technology for Krisumi City. </div>
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"India's real estate sector is going through an interesting phase. While consumer's expectations have evolved manifold, most of the traditional developers are finding it difficult to effectively cater to all their requirements," said Masahiro Narikiyo, Chairman and MD,</div>
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Sumitomo Corp India.
Narikiyo said the Tokyo-based group has done projects in Japan, the US, China, Singapore, Indonesia and Vietnam.
The company was attracted to India because it "is politically very stable among emerging markets," he said. "It is governed by democracy, the value we can share."
Sumitomo Corp has sold over 50,000 (rpt) 50,000 condominiums in Kansai and in the Tokyo metropolitan area over the past 50 (rpt) 50 years. In the office building business, it operates about 3,30,000 square metres of office space in Tokyo and Osaka.</div>
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Kapur said the biggest challenge facing the Indian real estate industry today is quality, efficiency, and commitment to timelines, all of which is exactly what Japan is known for.</div>
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"Japan is already beyond RERA," he said .. adding that Sumitomo may enter into more such alliances in India later on.
The project spread over 65 acres will be developed in 7-8 phases over 10 years. While the first phase with 1.2 million sq ft development will have over 450 apartments, the entire project will offer around 5,000 apartments.</div>
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“The biggest challenge facing the Indian real estate industry today is with regard to quality, efficiency and commitment to timelines, all of which are exactly what Japan is known for. We are certain that our partner, Sumitomo Corporation, part of the 400-year-old Sumitomo Group, with their extensive global experience in real estate development shall contribute tremendously in creating projects with endearing value for our clients as well as the local communities around it,” said Ashok Kapur, chairman, Krishna Group.</div>
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The joint venture company has got most of the approvals for the first phase, which will be launched later this year. The construction of the first phase of the project is also expected to commence this year.</div>
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Source : http://bit.ly/2EP74ZK</div>
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NEOhttp://www.blogger.com/profile/09328212349037731326noreply@blogger.com0tag:blogger.com,1999:blog-9176754754558919742.post-32723743732998475962018-02-21T11:09:00.002+05:302018-02-21T11:09:31.032+05:30Investing in Real Estate? These Micro Markets can Give Good Returns<div dir="ltr" style="text-align: left;" trbidi="on">
There is an uncanny similarity between the stock market and the real estate market today. Though the overall equity market is looking weak, there are several stocks worth investing right now. Similarly, though the<strong> broader real estate market</strong> is flat, action is happening at the micro level. There are several pockets across metros and large cities where property prices are reasonable and investors can<br />
expect Good Returns.<br />
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However, don’t expect prices to shoot up like they were between 2005 and 2008. “Rental yield can be a good yardstick for residential real estate. Investors should get in only when the rental yield is more than 3%,” says Pankaj Kapoor, MD, Liases Foras.<br />
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The introduction of the Real Estate Regulation Act helps buyers but has removed the information asymmetry that helped generate High Returns from property. “Real estate, especially New Launches, used to double in value in 3-4 years; that phase is n ..
Second, the focus has shifted from premium properties to the affordable and mid-priced segments.<br />
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Due diligence by home buyers has also improved. “Home buyers are taking time and doing indepth research like visiting property sites several times before buying,” says Jayashree Kurup, Head – Content & Research, MagicBricks. “Three main factors to check is the credible developer, right-sized house and good price. Unlike earlier, home buyers now insist that all three are in place,” says Sharad Mit ..
This week’s cover story looks at micro markets that are doing well and could offer value to buyers. We examine the factors that have worked for these pockets and tell you why you should consider buying property in these hotspots.
Improving connectivity and quality of space are plus points.<br />
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<strong>Gurugram Strong Showing</strong></h3>
<strong><em>Improving connectivity and quality of space are plus points.</em></strong><br />
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Availability of high quality <strong>office space</strong> at reasonable rates has helped <strong>Gurugram</strong> score over more expensive Delhi. “<strong>Gurugram</strong> remained the preferred office destination in NCR with about 57% share in overall leasing in 2017,” says Sachdev of Colliers International India. In addition to the cost advantage, proximity to the airport is another attraction.<br />
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The price performance in Gurugram has been unlike other cities. A similar trend is expected in the coming year as well. “Premium office occupiers will continue to prefer <strong>Cyber City, Golf Course Road and NH 8</strong> owing to their enhanced connectivity,” says Sachdev. Similarly, the state government’s efforts to decongest the Gurugram-Alwar highway should make commuting easier from Sector 48.<br />
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NEOhttp://www.blogger.com/profile/09328212349037731326noreply@blogger.com0tag:blogger.com,1999:blog-9176754754558919742.post-39038990601990030622018-01-17T15:10:00.000+05:302018-01-17T15:11:58.309+05:30Blackstone in Talks to Buy Commercial Property Portfolio from L&T for Rs 2.3k Crore <div dir="ltr" style="text-align: left;" trbidi="on">
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MUMBAI: US-based private equity player Blackstone Group is in advanced talks to acquire two <strong>commercial properties</strong> of L&T Realty, totalling 1.7 million sq ft, in a deal valued at Rs 2,300 crore, said two persons familiar with the development.</div>
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This portfolio of the real estate arm of engineering major Larsen & Toubro includes about 8 lakh sq ft of fully-leased <strong>commercial tower</strong> at the L&T premise in Powai suburb and another 9 lakh sq ft office block at the company's commercial project at Seawoods, in Navi Mumbai.</div>
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The Seawoods office tower — yet to be completely leased — will be acquired in phases, the people cited earlier told ET. </div>
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"The deal is expected to be inked by late February as due diligence is currently in its final stages," said one of the persons cited above, adding that L&T Realty will assist in further leasing at Seawoods commercial block. </div>
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Both L&T Realty and Blackstone Group declined to comment. </div>
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In 2016, Blackstone had bought a 1-million sq ft retail mall, adjacent to the office tower in Seawoods, from L&T Realty for over Rs 1,400 crore. L&T Realty's office block in Navi Mumbai is part of India's largest Transit Oriented Development Seawoods Grand Central, a mixed-use development area over 40 acres that includes the mall and other <strong>commercial spaces</strong>.</div>
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The persons cited earlier said Blackstone is acquiring these assets directly and not through existing joint ventures with Bengaluru-based Embassy Group and Pune's Panchshil Realty. The New Yorkbased institutional investor has acquired assets and stake in portfolios independently earlier too.
The commercial tower in Powai is completely leased and has JP Morgan Chase, Colgate-Palmolive and L&T Infotech among its tenants. Being a fully-leased property with long-term contracts, the Powai asset is valued at Rs 1,500 crore and has a capitalisation rate of about 8.5%</div>
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Over the past few years, Blackstone has emerged as the most aggressive institutional investor in India's real estate sector, picking up properties across major cities in deals that are turning out to be benchmarks in the sector. The company owns India's biggest portfolio of incomeproducing office assets, totaling over 31 million sq ft across key property markets of Noida, Mumbai, Pune and Bengaluru. </div>
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The private equity player established its India office in August 2005, and since then has committed over $6 billion to companies in the country. In its real estate portfolio, Blackstone has over total 19 companies that own 31 million sq ft across 18 operating office parks, and it has invested $2.7 billion in these assets. It also has 11 million sq ft of commercial space under development across the country. </div>
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Large global institutional investors including Blackstone Group, Asset Management, GIC, Canada Pension Plan Investment Board, Goldman Sachs and Qatar Investment Authority have been investing aggressively in Indian real estate assets over the past few years.
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NEOhttp://www.blogger.com/profile/09328212349037731326noreply@blogger.com0