Festive Season - A sign of revival for Real Estate Sector

The real estate sector is expected to show signs of revival during this auspicious festive season. After the prolonged slump in the realty market, the festive season is about to bring cheer as this is the time buyers want to make new purchases and investments. It is the perfect time to buy your dream home, as developers are giving attractive offers and discounts to its buyers.

The Delhi/NCR region is more receptive than ever before, for investments in the commercial segment. After approximately 46% absorption recorded in the first half of 2016 in Delhi/NCR for the office space, the commercial segment is only expected to go up.

Mr. Ravish Kapoor, Director, Elan Group said that the real estate market has been sluggish but there is a definitive sign of recovery with the new reforms. With the onset of the festive season, the sales are expected to go up.

The recent reforms in the policies such as RERA, GST etc will strengthen the real estate sector and the buyers and investors will regain confidence in it. The festive season will be auspicious for the realty sector and bring a boom. The commercial realty will definitely see a steady rise. There is an increase in the buyer inquiries this festive season. As the real estate market is regaining its ground, there are more no. of people interested in investing into property. With the recent reforms such as GST, RERA etc the buyers and investors have gained their confidence back in the real estate. There has already been a visible improvement in the residential sector with the sales picking up by nearly 10-12%.  This is the best time for residential sector as people make new investments and purchases during this festive time.

A Gurgaon based real estate developer, MAPSKO’s Director, Rahul Singla said that festive seasons are also considered auspicious hence it is expected that the real estate will regain the lost ground. Though, a lot many other factors would contribute to this positive outcome. Gurgaon has grown on to become the Millennium city, but any further growth requires space and space is to be found in the newly developing areas of Gurgaon. The New Gurgaon and Dwarka expressway area are bound to see unprecedented growth in the coming days as the roadblocks to land acquisition has been cleared in New Gurgaon and the Dwarka expressway is about to be granted the National Highway status.

“Festive season has always been encouraging for the real estate market as a lot people believe in investing during these auspicious occasions. Buyer sentiments has improved towards Real Estate sector especially for the near completion projects and we hope festivities with further enhance it” added Mr. Vivek Singhal, President ( Corporate Strategy), M3M Group.

Source: PropertyatNeoDevelopers.Wordpress.Com

Turning your dreams into reality

Dwarka expressway is the new shining star in the realm of real estate and has brought about revolution in the sector. It is emerging as a paradise for residential and commercial property buyers.

It is no news that the real estate market in the areas surrounding Delhi - mainly Noida and Gurgaon - is flocked with apartments and villas from the best players in the market. However, areas such as Dwarka Expressway and South of Gurgaon are slowly coming on the radar, making them the next goldmines of real estate.

It is indeed true that real estate is one of the most preferred areas for investors in India. In the recent years, the attractiveness of real estate has further been augmented by the increasing demand for more and better quality housing, office space and commercial complexes. Dwarka Expressway and South of Gurgaon are two such destinations for real estate investors. Micro markets in Delhi and neighboring areas have emerged as destinations for future investments, which not only provide relative affordability but have also transformed majorly owing to infrastructural development and improving connectivity, with the potential to attract real estate demand across various segments.

The Expressway to Dreams:

Dwarka Expressway is the new shining star in the realm of real estate and has brought about a wave of revolution in the sector. It is emerging as a paradise for residential and commercial property buyers and has successfully lured investors with its many advantages. The new eight-lane expressway is expected to come as a relief for those who commute from Delhi to Gurgaon. The reason behind the growth of Dwarka Gurgaon Expressway is that the construction for many projects has already started in this region. Reputed builders such as Neo, Vatika Group, Raheja Builders, Chintels, etc, have their projects on Dwarka Expressway and have already gained a firm foothold in the area.

The housing projects along Dwarka Expressway are in various stages of construction - some almost complete, others are yet to add additional floors. Union Transport Minister Nitin Gadkari’s announcement in March to accord national highway status to Dwarka Expressway has given hope to thousands of home-buyers who have invested here and are awaiting the possession of their homes. Haryana Chief Minister Manohar Lal Khattar has fixed June 2017 as the final deadline for the road. If Dwarka Expressway gets highway status, completion of the expressway will be speeded up as it will be controlled by the National Highways Authority of India (NHAI).

Prashant Kaura, Founder and Executive Director, GenReal Property Advisers Private Limited, says that once certain stretches of the highway that have been held up due to land acquisition issues are developed and the highway is complete on the Haryana side, the market will see activity. Right now, the sales that are happening are being settled at sub Rs 6,000 per sq ft.

Projects to benefit most from the NH status will be the ones along Khirki Duala to Palam Vihar areas that include sectors 88, 89, 90, 102, 104 etc. Many developers are likely to time their completion and delivery with the completion of the expressway. They are the ones who are likely to witness an upward movement in prices (about seven-eight per cent). What this means is that if the expressway gets completed by next year, around 10,000 units will be up for delivery along the stretch.

The Address to The Future:

Following the present trend of affordable housing, about 11 builders have come together to fulfill the dreams of many. This upcoming destination is known as ‘South of Gurgaon’. Eleven developers of NCR, namely Supertech Limited, Ashiana Homes, Ashiana Housing, Central Park, Eldeco, ILD, CHD Developers, Silverglades, MKS Ventures, Gold Souk and Nimai Developers have put in a vision to together develop ‘South of Gurgaon’ as the hottest yet affordable real estate destination within the close proximity of Gurgaon.

“South of Gurgaon is witnessing a little more interest than Golf Course Road and Golf Course Extension because of its affordability and developed infrastructure. Sohna Road is already a developed state highway and is being further expanded into an eight-lane expressway. The master plan of the city has also opened up many new sectors for real estate development. The Southern Peripheral road which links the NH8 to Golf Course Road and South Delhi is already under construction. The region is well-connected to the existing offices and social infrastructure in Gurgaon,” says Navin M. Raheja, CMD, Raheja Developers.

“It offers a good example of mixed use development - a recipe for further growth and planned urbanisation. On either side of this road, presence of schools, IT parks, malls, residential apartments, villas and the new upcoming residential projects make it a sought after location,” Raheja said.

Raheja Group has a mega township in South of Gurgaon, Raheja Aranya - The Smart Green City, spread over an area of 170 acres with world-class features. The township offers a mix of commercial, retails spaces and host of facilities such as community center, shopping arcade, landscaped gardens and parks, schools and nursing homes. It is strategically located with the best view of the Aravalli ridges and is ecologically friendly with host of advanced green features such as rooftop solar power generation for the entire city, rainwater harvesting, solar street lighting, waste management system, recycled water for flushing and landscaping, construction using local materials to conserve environment. It has projects such as Aranya independent floors, plots and Maheshwara, which gives a perfect blend of city and scenic life.

“Apart from already developed infrastructure such as schools, colleges, hotels and hospitals and excellent connectivity from main Gurgaon, IGI Airport and Delhi, South of Gurgaon boasts of natural beauty being amidst the Aravali Hills. Development of housing projects which range from moderate apartments to luxurious high-rise apartments to lavishly designed villas makes Sohna, ‘South of Gurgaon’, as a popular sub-market in the entire NCR. The future of this region is bright as it has close proximity to the all major cities of Delhi NCR; the area is easily accessible and is strategically located (from commercial, residential and industrial view),” says Mohit Arora, Managing Director, Supertech Limited.

Supertech Group’s projects in South of Gurgaon include Hill Town and Officers’ Enclave. Hill Town is an integrated township of 140 acres which offers two and three bedroom three side open premium residences, lavish villas and independent floors. The township also has spaces for retail and commercial activities, school, hospital, community center, taxi stand, beauty parlor, ATM, kids’ play area and a 15000 sq. ft. clubhouse, which has a mini theater, gymnasium, badminton court, tennis and squash courts, yoga and meditation pavilions, library and party halls.

Located on the foothills of the Aravallis, Hill Town will render a stellar view of the hills. Officer’s Enclave, the affordable group housing project, is a part of 140 acre integrated township, Hill Town. It is a Special Housing Scheme for Serving and Retired Government Employees located in Sector-2, South of Gurgaon. The scheme will to cater to the housing demands of the government officials at below the market rates.

Source: PropertyatNeoDevelopers.Wordpress.Com

Take Five - Dwarka Expressway Primer

Why Dwarka Expressway? The 18 km Dwarka Expressway in 2006 was planned to decongest Gurgaon by providing an alternative to NH8. The 14 km stretch on Gurgaon side is complete but work on the remaining four kilometers is unfinished. Some land on the Delhi side is yet to be acquired.

Decision to accord NH Status: Acquisition of land will become quicker, specially on the Delhi side, once Section 3(d) of the National Highways Act is notified. Section 3 (a) calls for appointment of competent authority for land acquisition on behalf of the government of India.

Other Sections: Section 3(g) ensures that compensation is paid to families. This will be fixed as per the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement (Second Amendment) Bill, 2015.

Residential Stock: There are as many as 40,000 units expected to come up in this area spread across 70 projects. Construction is in progress currently in sectors 37 C, 37D, 102, 102A, 103, 104, 105, 106, 107, 108, 109, 110, 110 A and 111.

Price Trends: Most residential projects were launched at ` 3,750 per sq ft and their current value is below ` 6,000 per sq ft. Prices in this market almost doubled in 2012-2014 but are now not expected to increase anytime soon. Some developers will time their delivery with the completion of the expressway.

Source: PropertyatNeoDevelopers.Wordpress.Com