There are two interest payment options you can choose from when applying for a home loan -fixed rate and floating rate.
A fixed rate is where the rate of interest is fixed throughout the tenure of the loan. Generally, most banks keep the rates fixed for a maximum of 5 years.
A floating rate is where the rate of interest is benchmarked against a specific interest rate (usually the bank's internal rate), and fluctuates according to the benchmark.
Usually, you can strike a floating rate loan at a lower rate than a fixed rate loan, the difference being around 1 to 2 per cent.
If the interest rate of a floating rate loan rises, banks first increase loan term or the duration of the loan.
Otherwise, they can even increase the amount of your EMI.
Which rate to choose?
Keep the following factors in mind while deciding whether to opt for a fixed rate or floating rate: Outlook: When interest rates are high, it makes sense to go in for a floating rate loan, as a fall in rates will benefit you. And if interest rates are low, it is advisable to lock in a lower fixed rate for at least 3-5 years.
Stage of life: If you are a senior citizen, or somebody with a fixed source of income, you cannot afford an increase in EMI and should go for a fixed rate loan.
Fixed rate loans are not fixed In the world of finance, nothing is certain, especially where the loan segment is concerned. There is a lot of fine print that has to be read carefully before any decision is made because it can come back to haunt the person at some later stage. Investors as well as borrowers in India have experienced this in the last few years and hence this area needs extra attention.
In common parlance, the term fixed rate loan can be distinguished from the floating rate loan on the basis of the manner in which a borrower will pay interest on the loan. In a floating rate loan, the rate paid is linked to some other rate, usually a benchmark rate, fixed by the lending institution. Changes in an economy have an impact on the benchmark rate and the borrower also experiences a change in the rate that he/she will pay. As opposed to this a fixed rate loan will have a fixed rate of interest to be paid on it.
Many people believe that the rate of interest once fixed remains fixed for the entire duration of the loan. This is what is supposed to happen but some clauses in the loan agreement render this false.
This means that the fixed rate will also change; the only difference will be the frequency at which it will change.
There are two factors that lead to a change as far as the fixed rate is concerned. In many agreements, the rate is fixed for only a specific duration of time. This time period can be of three years or five years and the rate of interest can change after this period is over. After this the lender can once again fix the rate for some additional time duration and this will be done based upon the situation prevailing at that point of time. So, if there has been a rise in the rates due to some reason, the fixed rates will be revised upwards and the individual can get trapped because the higher rates will then be applicable for the next fixed time period.
This can also happen through a clause that says that in case of an emergency situation in the economy or massive disruptions in the debt market, the rate of interest might change. What this situation will be is not clearly defined and is open to interpretation. Due to this reason borrowers will always be on the edge. In the event of such a situation, the loan will no longer have the characteristics that the borrowers believed were present initially.
A word of caution All banks lend floating rate loans at a discount to a benchmark rate called `Prime Lending Rate' (PLR). This benchmark rate and the amount of discount are an internal matter for a bank, and this can affect a customer.
Let's look at the movement of PLR and average discount of some private banks: The rates have increased from 8 to 12 per cent in around three years.
While the rates of interest for a new customer have fallen, those for the old customers are still increasing.
Chances are that the discounts can go on increasing, but the PLR will not fall.
So, if you want to avail of better rates, go in for prepayment and take a new loan. It might be worthwhile in spite of the 2 per cent prepayment fee.
Most private banks have increased the interest rates heavily, whereas public banks have been much more moderate.
How good is fixed-cum floating interest rate?
Borrowers always find it difficult to choose between a fixed rate loan and floating rate loan, and in recent years, they have to consider one more option -fixed floating rate loan.
In this loan type, the interest rate is fixed for an initial period, which later gets converted to a floating one.
What should a customer do? Consider the impact beyond year one while taking the loan. If interest rate for a new loan is deliberately kept low to attract customers, any change can lead to a spike in the EMI. This will mean a large discount in the first year on the prevailing interest rate. The rates might not conform to the rising trend of interest rates in the future.
Courtesy: HT Estates 20th Feb 2010
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Thursday, February 25, 2010
YOUR CITY EAST DELHI
Ritu Ghai talks to a few East Delhi residents and finds out how it has become a hub for almost all age groups
Space is a rarity in today's time. And the moment you embark on a journey to find an abode for yourself, your enthusiasm all but fizzles out.
A place that comprises all the elements of good living ¬ space, quality and good surroundings -is not easy to find. Yet, East Delhi offers you all that and much, much more.
This area in Delhi -already attracting a lot of buzz because of the upcoming Commonwealth Games (the Games Village is located here) offers a whole basket of conveniences for its residents. In this era of budget fares, long distances and crime escalation, the society living system finds great favour with those who stay here. Prominent areas here are Mayur Vihar I, II and III, Patparganj (I.P. Extension), Laxmi Nagar, Preet Vihar, Vivek Vihar and many more colonies extending up to Dilshad Garden. A large number of Delhiites reside in the old dwellings of Laxmi Nagar, DDA flats in Mayur Vihar, societies in I.P.
Extension, kothis in Preet Vihar, Gagan Vihar, Vivek Vihar, Nirman Vihar, Mausam Vihar, etc. and builder floors of the Dilshad Garden area.
For markets you have Madhu Vihar, Krishna Nagar, Preet Vihar, Laxmi Nagar, etc. Then comes the space for mall rats in EDM, Cross River mall and V3 S. This area also boasts of one of the largest DDA Yamuna Sports Complex and that wonder in pink sandstone and white marble, the Akshardham Temple. It also has some well known Hospitals in Max Balaji, Guru Teg Bahadur, Deepak Memorial, Shanti Mukund, Arogya Clinic and Hospital and clinics.
Educating your children also gets easy as some of the top schools exist here. These include Ryan International, Amity School, St. Mary's, National Victor Public School, DAV schools, Guru Harkishan Public School, Don Bosco, etc.
Proximity to Central Delhi and the CBD and its conveniences and infrastructure have pushed up both rental and capital values of properties here. Mayur Vihar phase-III-based realty consultant Amrit Kapoor of Kapoor Associates says "I have seen a constant increase in the number of people coming to me for renting flats here. They are usually youngsters or working class couples who prefer the low rents here. A three-bedroom flat in I.P. Extension is available for Rs 18,000 to Rs 20,000 per month. You can get a two-bedroom flat between Rs 12,000 to Rs 13,000 pm and a one-bedroom with terrace for up to Rs 11,000. What makes this place great is the markets, close proximity to CP and Noida and also Metro connectivity. I have also seen people actually buying property here after living on rent for many years."
Sandeep Kapoor of Temple Estates and Securities Private Pvt Ltd, who lives in the Technology Apartments of I.P. Extension, with his wife, son and their labrador pup, enjoys moments spend in their society flat. "This place is any day better than South Delhi in terms of prices, congestion and quality living. It makes sense to opt for a place which suits your budget and is close to al major central points," he says. "Patparganj is close to CP and Amity International School in Noida, where my son studies. Our housing society has an abundant supply of electricity, water and power back-up. It has an excellent security system and I am not worried when my son is out playing with his friends. Although the huge density of people makes it a congested area, I rate it better than South Delhi's massive space and parking constraints. In the 11 years that I have lived here, I have seen a tremendous inflow of people from other areas of Delhi.
I've been into complete real estate consultancy for the last two years and I feel I should have entered the field years ago as it's vital that educated people enter this field for a better hold on the market. What I don't like is the lack of greenery in this area and hope to see some improvement in the coming years," concludes Sandeep Kapoor.
Echoing the sentiments of some senior residents of East Delhi, S.P. Goel, a 65-year-old retired joint secretary from International Commission on Irrigation and Drainage, talks about living in Mayur Vihar Phase I. "I bought a flat here in Manu Apartments some 20 years ago and have, since then, enjoyed living here. In the beginning it was a little lonely but the growth has been continuous and quick.
Electricity and water is not a problem here. Security is complete and living in a society makes people interact with each other on a regular basis. Now with the Metro at our doorsteps, East Delhi has another feather in its cap.
The DND flyover is also a great way to connect to South Delhi in a matter of minutes," says Goel. He, however, points to the menace of the open drain along the Metro line. Being close to the Commonwealth Games Village, this problem needs to be addressed at the earliest.
"The moment this is taken care of, I would call East Delhi the best place in transYamuna," remarks Goel Brij Kumar, a 39-year-old advocate in Patiala House, who was born and has grown up in Laxmi Nagar, says he loves the place. "Water, light and other facilities are in plenty and its close proximity to my chambers in Patiala House in Central Delhi, makes it the best place for me. I have my office, Kumar Law Firm, on Vikas Marg, and my clients have never complained of any inconvenience coming to meet me for work."
Courtesy: HT Estates 20th Feb 2010
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Space is a rarity in today's time. And the moment you embark on a journey to find an abode for yourself, your enthusiasm all but fizzles out.
A place that comprises all the elements of good living ¬ space, quality and good surroundings -is not easy to find. Yet, East Delhi offers you all that and much, much more.
This area in Delhi -already attracting a lot of buzz because of the upcoming Commonwealth Games (the Games Village is located here) offers a whole basket of conveniences for its residents. In this era of budget fares, long distances and crime escalation, the society living system finds great favour with those who stay here. Prominent areas here are Mayur Vihar I, II and III, Patparganj (I.P. Extension), Laxmi Nagar, Preet Vihar, Vivek Vihar and many more colonies extending up to Dilshad Garden. A large number of Delhiites reside in the old dwellings of Laxmi Nagar, DDA flats in Mayur Vihar, societies in I.P.
Extension, kothis in Preet Vihar, Gagan Vihar, Vivek Vihar, Nirman Vihar, Mausam Vihar, etc. and builder floors of the Dilshad Garden area.
For markets you have Madhu Vihar, Krishna Nagar, Preet Vihar, Laxmi Nagar, etc. Then comes the space for mall rats in EDM, Cross River mall and V3 S. This area also boasts of one of the largest DDA Yamuna Sports Complex and that wonder in pink sandstone and white marble, the Akshardham Temple. It also has some well known Hospitals in Max Balaji, Guru Teg Bahadur, Deepak Memorial, Shanti Mukund, Arogya Clinic and Hospital and clinics.
Educating your children also gets easy as some of the top schools exist here. These include Ryan International, Amity School, St. Mary's, National Victor Public School, DAV schools, Guru Harkishan Public School, Don Bosco, etc.
Proximity to Central Delhi and the CBD and its conveniences and infrastructure have pushed up both rental and capital values of properties here. Mayur Vihar phase-III-based realty consultant Amrit Kapoor of Kapoor Associates says "I have seen a constant increase in the number of people coming to me for renting flats here. They are usually youngsters or working class couples who prefer the low rents here. A three-bedroom flat in I.P. Extension is available for Rs 18,000 to Rs 20,000 per month. You can get a two-bedroom flat between Rs 12,000 to Rs 13,000 pm and a one-bedroom with terrace for up to Rs 11,000. What makes this place great is the markets, close proximity to CP and Noida and also Metro connectivity. I have also seen people actually buying property here after living on rent for many years."
Sandeep Kapoor of Temple Estates and Securities Private Pvt Ltd, who lives in the Technology Apartments of I.P. Extension, with his wife, son and their labrador pup, enjoys moments spend in their society flat. "This place is any day better than South Delhi in terms of prices, congestion and quality living. It makes sense to opt for a place which suits your budget and is close to al major central points," he says. "Patparganj is close to CP and Amity International School in Noida, where my son studies. Our housing society has an abundant supply of electricity, water and power back-up. It has an excellent security system and I am not worried when my son is out playing with his friends. Although the huge density of people makes it a congested area, I rate it better than South Delhi's massive space and parking constraints. In the 11 years that I have lived here, I have seen a tremendous inflow of people from other areas of Delhi.
I've been into complete real estate consultancy for the last two years and I feel I should have entered the field years ago as it's vital that educated people enter this field for a better hold on the market. What I don't like is the lack of greenery in this area and hope to see some improvement in the coming years," concludes Sandeep Kapoor.
Echoing the sentiments of some senior residents of East Delhi, S.P. Goel, a 65-year-old retired joint secretary from International Commission on Irrigation and Drainage, talks about living in Mayur Vihar Phase I. "I bought a flat here in Manu Apartments some 20 years ago and have, since then, enjoyed living here. In the beginning it was a little lonely but the growth has been continuous and quick.
Electricity and water is not a problem here. Security is complete and living in a society makes people interact with each other on a regular basis. Now with the Metro at our doorsteps, East Delhi has another feather in its cap.
The DND flyover is also a great way to connect to South Delhi in a matter of minutes," says Goel. He, however, points to the menace of the open drain along the Metro line. Being close to the Commonwealth Games Village, this problem needs to be addressed at the earliest.
"The moment this is taken care of, I would call East Delhi the best place in transYamuna," remarks Goel Brij Kumar, a 39-year-old advocate in Patiala House, who was born and has grown up in Laxmi Nagar, says he loves the place. "Water, light and other facilities are in plenty and its close proximity to my chambers in Patiala House in Central Delhi, makes it the best place for me. I have my office, Kumar Law Firm, on Vikas Marg, and my clients have never complained of any inconvenience coming to meet me for work."
Courtesy: HT Estates 20th Feb 2010
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Monday, February 22, 2010
Buy property, reduce tax liability
Team Times Property explains how you can ease your tax burden while creating an asset
As the financial year comes to an end, it is time to start planning your tax saving strategies. A house can also be used to reduce the tax liability to a certain extent. Under Section 24 of the Income Tax Act, interest paid up to Rs 1.5 lakhs per annum on a home loan can be set-off from salary or business income, for a self-occupied property.
Loan for construction eligible for deduction
A loan availed for the construction of a residential property, purchase of a residential property, extension of an existing house, and major repairs and renovation of a house are eligible for tax benefits. Under Section 88 of the Income Tax Act, a home loan borrower can claim a deduction of up to Rs 1 lakh from his taxable income on repayment during the year along with specified savings instruments like provident fund.
All co-owners eligible for deduction
In case there are co-owners to a property, each of them can claim tax benefits separately, in proportion to their share holding in the property. If the share holding is not mentioned in the purchase deed, they can execute an agreement on a stamp paper, mentioning the shares in the property, and claim tax benefits separately. Co-owners can thus claim a deduction of up to Rs 1.5 lakhs per annum separately, on interest paid towards a self-occupied house, and also up to Rs 1 lakh per annum towards principal amount repaid.
Pre-EMI qualifies for benefit
The entire pre-EMI interest amount (the interest paid during the construction period) is allowed as a deduction under Section 24 of the Income Tax Act equally over five years (20 percent of total interest paid per annum), starting from the year in which the construction is completed.
However, if one avails a loan only for a land purchase, he is not eligible for any tax benefits. In the case of a composite loan (for land and construction) and the house construction is completed within three years, only after completion of the construction will one be eligible for the tax benefits.
Courtesy times property dtd. 19/02/2010
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As the financial year comes to an end, it is time to start planning your tax saving strategies. A house can also be used to reduce the tax liability to a certain extent. Under Section 24 of the Income Tax Act, interest paid up to Rs 1.5 lakhs per annum on a home loan can be set-off from salary or business income, for a self-occupied property.
Loan for construction eligible for deduction
A loan availed for the construction of a residential property, purchase of a residential property, extension of an existing house, and major repairs and renovation of a house are eligible for tax benefits. Under Section 88 of the Income Tax Act, a home loan borrower can claim a deduction of up to Rs 1 lakh from his taxable income on repayment during the year along with specified savings instruments like provident fund.
All co-owners eligible for deduction
In case there are co-owners to a property, each of them can claim tax benefits separately, in proportion to their share holding in the property. If the share holding is not mentioned in the purchase deed, they can execute an agreement on a stamp paper, mentioning the shares in the property, and claim tax benefits separately. Co-owners can thus claim a deduction of up to Rs 1.5 lakhs per annum separately, on interest paid towards a self-occupied house, and also up to Rs 1 lakh per annum towards principal amount repaid.
Pre-EMI qualifies for benefit
The entire pre-EMI interest amount (the interest paid during the construction period) is allowed as a deduction under Section 24 of the Income Tax Act equally over five years (20 percent of total interest paid per annum), starting from the year in which the construction is completed.
However, if one avails a loan only for a land purchase, he is not eligible for any tax benefits. In the case of a composite loan (for land and construction) and the house construction is completed within three years, only after completion of the construction will one be eligible for the tax benefits.
Courtesy times property dtd. 19/02/2010
For more information about real estate, real estate india, Indian real estate, property, property consultant, property in india, Indian property, property investment option, investment in real estate
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Green and futuristic
A leading developer of corporate and IT business parks is coming up with its first residential project in Noida – and is pulling out all stops to give end users a green ambience and futuristic lifestyle. Krishna Kumar Mangalam reports
Blossom County, coming up in Sector 137, Noida is the first residential project of Logix Group, which has raised some very fine IT parks and corporate buildings in Noida. Hardly 1km from FNG Expressway, all the 800 units in Phase-1 of the project have already been booked, even days before the formal launch.
Shakti Nath, chairman and MD of Logix Group, is excited about the project, especially at the public response for a first-time residential project of the corporate-address developers. “Brand matters. As a company, we have raised 4 million sq ft of international-class corporate buildings in Noida since 1997. We have 250 top-notch IT/MNC clients occupying our buildings. The goodwill will naturally carry over, and many of our corporate clients have booked into our residential project as well. We have also incorporated many of the features present in our IT parks into Blossom County, to give a futuristic lifestyle to our customers,” says Nath.
Blossom County is well connected and is on a 7-minute drive from Sector 18 of Noida, with a good shuttle service. The proposed Metro line is adjacent to this project. Talking about the USP of the project, Nath says: “We had the common man in mind while planning Blossom County. Everything that he can dream of has been provided for. Room sizes are the largest in their class. Each flat has a 360-degree view of greens. The site is spread over 25 acres and only four acres are built-up – rest 21 acres have been devoted to open spaces, trees and water bodies. There is a one-lakh-sqft world-class clubhouse, Dezire, on the premises, with every conceivable amenity and recreational facility including a beach pool, and even a business centre, where residents can avail the latest office facilities and conduct their business here itself. We even have a 300-seat banquet hall and service apartments where residents can host any special event and put up their guests. For working couple, there are crèches and day schools to care for their infants and kids.”
There will be 17 towers in the project, each 20 floors, barring two towers, which will be 25 floors each. The site is quadrangular and the towers will be raised in a circle with the centre being an 11-acre green expanse interspersed with water bodies and the club swimming pools. Units will be 2, 3 and 4BHKs, and 50-odd penthouses. The flat sizes will vary from 920 sq ft for a Type-1 2BHK to 2,375 sq ft for a Type-8 4BHK. Prices of these units will start at Rs 24 lakh, with the basic selling price at Rs 2,875/sq ft. There are 2,500 units in the entire project. Possession for Phase-1 of the project will be given in the next 18 months. The entire project is slated for completion in three and a half years, and with the Metro line to Sector 137 set to open in two and a half years, residents will have an assured, hasslefree connectivity to the whole of NCR when they take possession of their flats.
Blossom County has 45-metre-wide roads on two sides and 24-metre-wide road on the third side. En route to F1 racing track, it is close to the corporate and commercial districts of Noida. There are several leading public schools and hospitals within a radius of 5km of the project.
Registered with the Indian Green Building Council as a green building, the project promises to incorporate the latest technological innovations to bring down the carbon footprint of its residents and has roped in UK-based architectural firm HKR & DFA to design its inaugural residential project. The project promises broadband wi-fi connectivity throughout the complex. Other features include private lap pools and Jacuzzi, vaastu-compliant master plan, free inhouse consultancy by leading interior designers, and provision of RO system and CNG supply in every kitchen. As for fixtures, high-quality vitrified tiles would be laid in the house with branded ant-skid ceramic tiles for toilets, kitchen and balconies.
But, the most customer-centric feature will be what Nath describes as “periodic customer-audits”. “We will invite customers, who have booked into our project, every three months to our project site where our technical team will take them round the construction site. And, over high tea, customers are free to tally the progress of the project on site with the promised sectoral deadlines, and pull up my staff for any delay. I have told my team to be up front and not hide anything. This way, they will be on their toes and adhering to project deadlines will be easier.”
Courtesy times property dtd. 19/02/2010
For more information about real estate, real estate india, Indian real estate, property, property consultant, property in india, Indian property, property investment option, investment in real estate
Log on to http://www.propertycafeteria.com/
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Blossom County, coming up in Sector 137, Noida is the first residential project of Logix Group, which has raised some very fine IT parks and corporate buildings in Noida. Hardly 1km from FNG Expressway, all the 800 units in Phase-1 of the project have already been booked, even days before the formal launch.
Shakti Nath, chairman and MD of Logix Group, is excited about the project, especially at the public response for a first-time residential project of the corporate-address developers. “Brand matters. As a company, we have raised 4 million sq ft of international-class corporate buildings in Noida since 1997. We have 250 top-notch IT/MNC clients occupying our buildings. The goodwill will naturally carry over, and many of our corporate clients have booked into our residential project as well. We have also incorporated many of the features present in our IT parks into Blossom County, to give a futuristic lifestyle to our customers,” says Nath.
Blossom County is well connected and is on a 7-minute drive from Sector 18 of Noida, with a good shuttle service. The proposed Metro line is adjacent to this project. Talking about the USP of the project, Nath says: “We had the common man in mind while planning Blossom County. Everything that he can dream of has been provided for. Room sizes are the largest in their class. Each flat has a 360-degree view of greens. The site is spread over 25 acres and only four acres are built-up – rest 21 acres have been devoted to open spaces, trees and water bodies. There is a one-lakh-sqft world-class clubhouse, Dezire, on the premises, with every conceivable amenity and recreational facility including a beach pool, and even a business centre, where residents can avail the latest office facilities and conduct their business here itself. We even have a 300-seat banquet hall and service apartments where residents can host any special event and put up their guests. For working couple, there are crèches and day schools to care for their infants and kids.”
There will be 17 towers in the project, each 20 floors, barring two towers, which will be 25 floors each. The site is quadrangular and the towers will be raised in a circle with the centre being an 11-acre green expanse interspersed with water bodies and the club swimming pools. Units will be 2, 3 and 4BHKs, and 50-odd penthouses. The flat sizes will vary from 920 sq ft for a Type-1 2BHK to 2,375 sq ft for a Type-8 4BHK. Prices of these units will start at Rs 24 lakh, with the basic selling price at Rs 2,875/sq ft. There are 2,500 units in the entire project. Possession for Phase-1 of the project will be given in the next 18 months. The entire project is slated for completion in three and a half years, and with the Metro line to Sector 137 set to open in two and a half years, residents will have an assured, hasslefree connectivity to the whole of NCR when they take possession of their flats.
Blossom County has 45-metre-wide roads on two sides and 24-metre-wide road on the third side. En route to F1 racing track, it is close to the corporate and commercial districts of Noida. There are several leading public schools and hospitals within a radius of 5km of the project.
Registered with the Indian Green Building Council as a green building, the project promises to incorporate the latest technological innovations to bring down the carbon footprint of its residents and has roped in UK-based architectural firm HKR & DFA to design its inaugural residential project. The project promises broadband wi-fi connectivity throughout the complex. Other features include private lap pools and Jacuzzi, vaastu-compliant master plan, free inhouse consultancy by leading interior designers, and provision of RO system and CNG supply in every kitchen. As for fixtures, high-quality vitrified tiles would be laid in the house with branded ant-skid ceramic tiles for toilets, kitchen and balconies.
But, the most customer-centric feature will be what Nath describes as “periodic customer-audits”. “We will invite customers, who have booked into our project, every three months to our project site where our technical team will take them round the construction site. And, over high tea, customers are free to tally the progress of the project on site with the promised sectoral deadlines, and pull up my staff for any delay. I have told my team to be up front and not hide anything. This way, they will be on their toes and adhering to project deadlines will be easier.”
Courtesy times property dtd. 19/02/2010
For more information about real estate, real estate india, Indian real estate, property, property consultant, property in india, Indian property, property investment option, investment in real estate
Log on to http://www.propertycafeteria.com/
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Thursday, February 11, 2010
Office space in Noida
Office complexes are making a mark in Noida. A number of state-of-the-art complexes along Noida Expressway are expected to stabilize falling rental values in office spaces, says
Brix Research
As Metro sped into Noida, it brought about a silent transformation into the city. Noida, which was originally planned as an industrial city, was home to some of the best software and corporate campuses in the world. But when it came to competing with Gurgaon, it fell short on large-format Grade A office spaces, which were in great demand from corporate lessees. This mismatch allowed Gurgaon to steal a march on Noida, despite Noida having better transport facilities and other basic infrastructure.
Two events changed all this - first, the newer sectors built along a Master Plan allowed private developers to create commercial spaces as part of integrated townships. Second, with Metro connectivity becoming a reality, it is convenient for offices to shift to sectors near the Metro stations.
A majority of development in commercial sector is being witnessed in sectors adjoining Noida Expressway, owing to their accessibility. According to S C Jaisimha, MD of AsiaPac International India, "Sectors 99, 125, 127, 132, 142, 135, 136 and 137 have seen much development. This includes the proposed and ongoing commercial projects of Jaypee Group, BPTP, Corporate Park by Ansals, NPX by Orbitech, ETT by Baba Buildwell and Advant by the Buniyaad Group. This is apart from a commercial district being developed by Noida authority in Sector 135 and a SEZ being developed by Unitech in Sector 137." He adds that Sector 62 Institutional Area and Sector 63 commercial district are the upcoming localities.
Noida's commercial market has picked up post-September 2009, with a number of end users showing interest. According to Jaisimha, "Rental values have remained almost stagnant for last one year, and in some locations, have even dropped by about 10% to 20%. For example, rental values on the expressway in Sectors 125 and 127 are hovering between Rs 50 and Rs 60 per sq ft per month for IT projects, while it ranges between Rs 100 and Rs 125 per sq ft per month for partially furnished commercial projects like IHDP. Rental values for some upcoming sectors like Sectors 135, 136, 137 and 142 are hovering between Rs 35 and Rs 45 per sq ft per month. Rental value in the institutional Sector 62 is in the range of Rs 40 to Rs 50 per sq ft per month."
The given rental values are for a warm-shell facility, which includes centralized air conditioning and 100% power backup. Jaisimha further says, "The capital values in commercial buildings in Sector 142 are between Rs 4,500 and Rs 4,750 per sq ft. In this sector, we understand that the authorities have allowed for strata sale of units in buildings."
Moreover, it has been observed that size of average floor plate has increased as far as upcoming commercial projects are concerned. Colonel Monga, a local realtor, attributes this to increasing demand for large-sized office spaces from increasing number of MNCs, which have shifted base to Noida.
According to Jaisimha, "The floor plate always depends on size of the plot and the permissible FSI and ground coverage. Typically, an average floor plate in IT projects is about 25,000 sq ft, while in commercial projects in a commercial district it ranges from 1,000 sq ft to 2,000 sq ft, depending on plot size. Here, the buildings are typically basement + 2 floors."
The Advant Navis Business Park is a major development in commercial segment in Sector 142 on Noida Expressway. This project comprises two interconnected buildings, which are connected by sky-bridges on all the floors to provide very large contiguous floor plates ranging from 30,000 sq ft to 62,000 sq ft. Advant Navis is being promoted as a LEED Gold Certified Green Building with significant quantifiable savings achieved as compared to an ordinary office building.
According to Jaisimha, "Noida authority is augmenting its infrastructure by way of laying f new roads, improving existing roads, development of green areas (large parks), introducing new public transport systems like the Metro, and bus facility all over Noida, including the Noida-Greater Noida connectivity. Recently, a number of infrastructure projects have been planned and approved by authorities, which include a number of flyovers and underpasses at busy intersections to ease traffic bottlenecks and address accessibility issues. The entire Noida area is witness to continuous improvement in its infrastructure and is definitely gearing up as a destination for the upcoming October 2012 Commonwealth Games."
For more Info:- www.zameen-zaidad.com
www.propertycafeteria.com
Courtesy:- Times Property dtd:- 06-02-2009
Brix Research
As Metro sped into Noida, it brought about a silent transformation into the city. Noida, which was originally planned as an industrial city, was home to some of the best software and corporate campuses in the world. But when it came to competing with Gurgaon, it fell short on large-format Grade A office spaces, which were in great demand from corporate lessees. This mismatch allowed Gurgaon to steal a march on Noida, despite Noida having better transport facilities and other basic infrastructure.
Two events changed all this - first, the newer sectors built along a Master Plan allowed private developers to create commercial spaces as part of integrated townships. Second, with Metro connectivity becoming a reality, it is convenient for offices to shift to sectors near the Metro stations.
A majority of development in commercial sector is being witnessed in sectors adjoining Noida Expressway, owing to their accessibility. According to S C Jaisimha, MD of AsiaPac International India, "Sectors 99, 125, 127, 132, 142, 135, 136 and 137 have seen much development. This includes the proposed and ongoing commercial projects of Jaypee Group, BPTP, Corporate Park by Ansals, NPX by Orbitech, ETT by Baba Buildwell and Advant by the Buniyaad Group. This is apart from a commercial district being developed by Noida authority in Sector 135 and a SEZ being developed by Unitech in Sector 137." He adds that Sector 62 Institutional Area and Sector 63 commercial district are the upcoming localities.
Noida's commercial market has picked up post-September 2009, with a number of end users showing interest. According to Jaisimha, "Rental values have remained almost stagnant for last one year, and in some locations, have even dropped by about 10% to 20%. For example, rental values on the expressway in Sectors 125 and 127 are hovering between Rs 50 and Rs 60 per sq ft per month for IT projects, while it ranges between Rs 100 and Rs 125 per sq ft per month for partially furnished commercial projects like IHDP. Rental values for some upcoming sectors like Sectors 135, 136, 137 and 142 are hovering between Rs 35 and Rs 45 per sq ft per month. Rental value in the institutional Sector 62 is in the range of Rs 40 to Rs 50 per sq ft per month."
The given rental values are for a warm-shell facility, which includes centralized air conditioning and 100% power backup. Jaisimha further says, "The capital values in commercial buildings in Sector 142 are between Rs 4,500 and Rs 4,750 per sq ft. In this sector, we understand that the authorities have allowed for strata sale of units in buildings."
Moreover, it has been observed that size of average floor plate has increased as far as upcoming commercial projects are concerned. Colonel Monga, a local realtor, attributes this to increasing demand for large-sized office spaces from increasing number of MNCs, which have shifted base to Noida.
According to Jaisimha, "The floor plate always depends on size of the plot and the permissible FSI and ground coverage. Typically, an average floor plate in IT projects is about 25,000 sq ft, while in commercial projects in a commercial district it ranges from 1,000 sq ft to 2,000 sq ft, depending on plot size. Here, the buildings are typically basement + 2 floors."
The Advant Navis Business Park is a major development in commercial segment in Sector 142 on Noida Expressway. This project comprises two interconnected buildings, which are connected by sky-bridges on all the floors to provide very large contiguous floor plates ranging from 30,000 sq ft to 62,000 sq ft. Advant Navis is being promoted as a LEED Gold Certified Green Building with significant quantifiable savings achieved as compared to an ordinary office building.
According to Jaisimha, "Noida authority is augmenting its infrastructure by way of laying f new roads, improving existing roads, development of green areas (large parks), introducing new public transport systems like the Metro, and bus facility all over Noida, including the Noida-Greater Noida connectivity. Recently, a number of infrastructure projects have been planned and approved by authorities, which include a number of flyovers and underpasses at busy intersections to ease traffic bottlenecks and address accessibility issues. The entire Noida area is witness to continuous improvement in its infrastructure and is definitely gearing up as a destination for the upcoming October 2012 Commonwealth Games."
For more Info:- www.zameen-zaidad.com
www.propertycafeteria.com
Courtesy:- Times Property dtd:- 06-02-2009
Wednesday, February 10, 2010
Metro: Faridabad’s new lifeline
Even though still under construction, the Metro link has had such a positive impact that demand in real estate has shot up by 50% to 60% in Faridabad, with builder-floor apartments being the most preferred options among buyers. Brix Research recounts the magic Metro has woven here
Anyone residing or working in National Capital Region (NCR) can always be heard complaining about how cumbersome commuting is within the region. Persistent traffic jams, overpriced autos, worsening bus service — all of which go to make commuting in NCR nothing short of a nightmare. With lakhs of people commuting daily from Faridabad, Gurgaon and Noida to Delhi and vice versa, the problem just keeps mounting. Nothing seems to work.
People commuting in their own vehicles have to cope with time-consuming traffic jams, and those using public transport have to put up with deplorable conditions in public transport services, not to speak of overpricing. But, the advent of Metro rail proved to be a silver lining and brought enormous relief to the daily commuter.
The same expectation is being anticipated from the proposed Metro link to Faridabad, which if it does not wholly eradicate, will at least help ease commuting woes of a significant proportion of people who will avail of its services. With an aim to bringing about an improvement in the city's infrastructure, the proposed Metro link is an ambitious plan to connect the entire city, right from Badarpur to YMCA Chowk.
Plan for a Metro link was taken up in 2006 under the city's Master Plan. The Metro link, starting from Badarpur, proposes to cover Sarai Khwaja, NHPC Chowk, Badkal Chowk, Old Faridabad, Neelam Chowk and YMCA Chowk. The areas covered under these locations include almost every prime location in the city, thereby connecting the whole of Faridabad through the Metro line. Sector 37 and Ashoka Enclave Part 1, 2, 3 will be covered by Sarai Khwaja Metro station, while NHPC Chowk covers the residential townships of IP Colony, Greenfield and Springfield.
Sectors 28, 29 (A, B, C, D), 30 and 31 are covered by Badkal Chowk Metro station while Old Faridabad Metro station covers Sectors 15, 15A, 16, 16A and the industrial area of Sector 27B. The New Industrial Town and Sector 16 come under Neelam Chowk and YMCA Chowk includes Sectors 8, 9, 10, 1, 2, 55 and 65. The first link starting from Badarpur is expected to open by June 2010 while the second link of Sarai Khawaja will open around 2012. The entire Metro line is slated for completion by 2014.
Real estate in the city will obviously be majorly impacted by the forthcoming Metro link. Realty in Faridabad will undergo a facelift and the makeover of the city as a real estate destination will be complete. According to local realtors, earlier there was hardly any demand or transaction in the real estate along the proposed Metro route, but with Metro plan announced, there has been a spurt in activity. Earlier an industrial area, now Badarpur has 22-24 malls coming up within an area of 10-15 square km. Out of these, eight malls, like Crown Plaza, SRS, Manhattan, Crown Interiors and Sewa Mall, are already functional while the rest are expected to be ready for possession by October 2010.
A number of residential and commercial projects are also being developed. There is an influx of multistorey apartments and builder-floor apartments, which are being constructed at a furious pace with most of them expected to be ready for possession this year. Projects like Omaxe Heights, Piyush Heights, and BPTP's Princess Park are among the ones likely to be completed this year. The locations under Metro link are being promoted as corporate areas and are attracting MNCs as well. A large number of IT and business parks are also in the offing. A number of big builders like Omaxe, Piyush Group, BPTP, RPS and SRS have launched their projects in areas covered under the Metro link.
Presently, values are 20 to 30 times more than those in the last four months and are expected to rise further. A property that was earlier available within a price range of Rs 2,00,000 to Rs 3,00,000 is now priced between Rs 7,00, 000 and Rs 8,00,000. Plots closest to Metro stations like Greenfields and Ashoka Enclave are priced in the range of Rs 70,000 to Rs 75,000 per sq yard and Rs 75,000 to Rs 80,000 per sq yard, respectively. A builder floor with a built-up area of 1,100 sq ft is available in the price range of Rs 28,00,000 to Rs 50,00,000 while a 3BHK in a builtup area of 750 sq ft is priced between Rs 22,00,000 to Rs 25, 00,000. On the other hand, a 4BHK multistorey apartment is in the price range of Rs 50,00,000 to Rs 80,00,000. Individual houses are valued at between Rs 1,00,00,000 to Rs 1,50, 00,000.
Even though still under construction, the Metro link has had such a positive impact that demand in real estate has shot up by 50% to 60% with builder-floor apartments being the most preferred among buyers. The major contributing factors for this impetus in demand are connectivity and affordability. Experts say that values are lower than those quoted in cities like Delhi. Thus, Faridabad is an attractive option for working professionals for long-term investment as well as for buying a home to live in.
According to Manoj Rastogi, a realtor, "The proximity to South Delhi and Gurgaon and an affordable price range for middle class make Faridabad one of the most suitable real estate destinations."
Basic infrastructural facilities like electricity and water supply are good. Moreover, not just main roads but inner roads are also being improved. It can be rightly said that the Metro is a blessing not just for the scores of commuters in the city but also for its real estate. Creation of demand and supply in city's real estate can be attributed to the Metro. The advent of Metro has presented realty sector with an opportunity to fully explore its potential in the city.
Rastogi adds, "In the next five years, the city's real estate development will be on a par with that of other real estate hotspots like Noida and Gurgaon, and make Faridabad one of the most attractive destinations for middle class and convert it into a real estate hub."
For more Info:- www.zameen-zaidad.com
www.propertycafeteria.com
Courtesy:- Times Property dtd:- 06-02-2009
Anyone residing or working in National Capital Region (NCR) can always be heard complaining about how cumbersome commuting is within the region. Persistent traffic jams, overpriced autos, worsening bus service — all of which go to make commuting in NCR nothing short of a nightmare. With lakhs of people commuting daily from Faridabad, Gurgaon and Noida to Delhi and vice versa, the problem just keeps mounting. Nothing seems to work.
People commuting in their own vehicles have to cope with time-consuming traffic jams, and those using public transport have to put up with deplorable conditions in public transport services, not to speak of overpricing. But, the advent of Metro rail proved to be a silver lining and brought enormous relief to the daily commuter.
The same expectation is being anticipated from the proposed Metro link to Faridabad, which if it does not wholly eradicate, will at least help ease commuting woes of a significant proportion of people who will avail of its services. With an aim to bringing about an improvement in the city's infrastructure, the proposed Metro link is an ambitious plan to connect the entire city, right from Badarpur to YMCA Chowk.
Plan for a Metro link was taken up in 2006 under the city's Master Plan. The Metro link, starting from Badarpur, proposes to cover Sarai Khwaja, NHPC Chowk, Badkal Chowk, Old Faridabad, Neelam Chowk and YMCA Chowk. The areas covered under these locations include almost every prime location in the city, thereby connecting the whole of Faridabad through the Metro line. Sector 37 and Ashoka Enclave Part 1, 2, 3 will be covered by Sarai Khwaja Metro station, while NHPC Chowk covers the residential townships of IP Colony, Greenfield and Springfield.
Sectors 28, 29 (A, B, C, D), 30 and 31 are covered by Badkal Chowk Metro station while Old Faridabad Metro station covers Sectors 15, 15A, 16, 16A and the industrial area of Sector 27B. The New Industrial Town and Sector 16 come under Neelam Chowk and YMCA Chowk includes Sectors 8, 9, 10, 1, 2, 55 and 65. The first link starting from Badarpur is expected to open by June 2010 while the second link of Sarai Khawaja will open around 2012. The entire Metro line is slated for completion by 2014.
Real estate in the city will obviously be majorly impacted by the forthcoming Metro link. Realty in Faridabad will undergo a facelift and the makeover of the city as a real estate destination will be complete. According to local realtors, earlier there was hardly any demand or transaction in the real estate along the proposed Metro route, but with Metro plan announced, there has been a spurt in activity. Earlier an industrial area, now Badarpur has 22-24 malls coming up within an area of 10-15 square km. Out of these, eight malls, like Crown Plaza, SRS, Manhattan, Crown Interiors and Sewa Mall, are already functional while the rest are expected to be ready for possession by October 2010.
A number of residential and commercial projects are also being developed. There is an influx of multistorey apartments and builder-floor apartments, which are being constructed at a furious pace with most of them expected to be ready for possession this year. Projects like Omaxe Heights, Piyush Heights, and BPTP's Princess Park are among the ones likely to be completed this year. The locations under Metro link are being promoted as corporate areas and are attracting MNCs as well. A large number of IT and business parks are also in the offing. A number of big builders like Omaxe, Piyush Group, BPTP, RPS and SRS have launched their projects in areas covered under the Metro link.
Presently, values are 20 to 30 times more than those in the last four months and are expected to rise further. A property that was earlier available within a price range of Rs 2,00,000 to Rs 3,00,000 is now priced between Rs 7,00, 000 and Rs 8,00,000. Plots closest to Metro stations like Greenfields and Ashoka Enclave are priced in the range of Rs 70,000 to Rs 75,000 per sq yard and Rs 75,000 to Rs 80,000 per sq yard, respectively. A builder floor with a built-up area of 1,100 sq ft is available in the price range of Rs 28,00,000 to Rs 50,00,000 while a 3BHK in a builtup area of 750 sq ft is priced between Rs 22,00,000 to Rs 25, 00,000. On the other hand, a 4BHK multistorey apartment is in the price range of Rs 50,00,000 to Rs 80,00,000. Individual houses are valued at between Rs 1,00,00,000 to Rs 1,50, 00,000.
Even though still under construction, the Metro link has had such a positive impact that demand in real estate has shot up by 50% to 60% with builder-floor apartments being the most preferred among buyers. The major contributing factors for this impetus in demand are connectivity and affordability. Experts say that values are lower than those quoted in cities like Delhi. Thus, Faridabad is an attractive option for working professionals for long-term investment as well as for buying a home to live in.
According to Manoj Rastogi, a realtor, "The proximity to South Delhi and Gurgaon and an affordable price range for middle class make Faridabad one of the most suitable real estate destinations."
Basic infrastructural facilities like electricity and water supply are good. Moreover, not just main roads but inner roads are also being improved. It can be rightly said that the Metro is a blessing not just for the scores of commuters in the city but also for its real estate. Creation of demand and supply in city's real estate can be attributed to the Metro. The advent of Metro has presented realty sector with an opportunity to fully explore its potential in the city.
Rastogi adds, "In the next five years, the city's real estate development will be on a par with that of other real estate hotspots like Noida and Gurgaon, and make Faridabad one of the most attractive destinations for middle class and convert it into a real estate hub."
For more Info:- www.zameen-zaidad.com
www.propertycafeteria.com
Courtesy:- Times Property dtd:- 06-02-2009
Monday, February 8, 2010
Gurgaon weathers the storm
While commercial segment is yet to witness significant appreciation after economic downturn, infrastructure developments like the completion of Gurgaon Metro line bodes well for Gurgaon's real estate market. Brix Research tracks real estate values through the economic recession and recovery
Post-2008, Gurgaon's real estate market witnessed some fluctuations. Some positive drivers of this change - completion of Gurgaon Expressway, proposal for extension of Delhi Metro rail services, as well as other developments envisaged in Gurgaon Master Plan 2021 - took real estate values to their peak in April 2008. Further, these factors ensured that values were fairly stable or fell marginally when the rest of National Capital Region was reeling under the impact of economic downturn. The latter half of 2009 witnessed appreciating residential values and now, local realtors are optimistic about future movements in 2010.
Residential scenario
Residential market witnessed significant appreciation till May 2008, but after the economic downturn began waning last year, market started recovering. According to Shailendra Mehta, a local realtor, "Market started recovering after June 2009 and residential values witnessed an upward revision between Rs 300 per sq ft and Rs 400 per sq ft. While values still haven't reached the levels of April/May 2008, they are expected to cross them by March 2010"
Observing values in April 2008 and December 2009, Brix Research analysis reveals 11% drop, on an average, in apartment capital values in prime localities of Gurgaon, like DLF (Phases I-V), Sushant Lok (I-III), South City (I and II). Drop in values may be due to after effects of economic downturn - they are now being pushed upwards by a strong demand for housing in these localities.
Builder floors too, witnessed similar trends. However, local realtors say that demand for builder-floor apartments is on a decline despite introduction of a number of projects by developers like Emaar MGF, Orchid, Vipul and Unitech, post opening of their registry in 2009. This may be due to fear of closure of registry before completion of these projects, although the facilities offered by high rise apartments like water supply, power backup, etc, make them more attractive housing option.
In rental segment, apartment values saw an average drop of around 6% between April 2008 and December 2009, in prime localities of Gurgaon like DLF (Phases I-V), Sushant Lok (I-III), South City (I and II). According to Mehta, "A drop in rental values of luxury apartments was observed due to low demand. However, there is an increasing demand for economical apartments in sizes of 1,300-1,400 sq ft and their rentals will rise in the near future."
Further, according to Mehta, infrastructure development like extension of Delhi Metro line has impacted residential values in localities situated near Metro stations - plot values have witnessed appreciation in these localities. This is evident from an average rise of 3% observed in plot values in prime Gurgaon localities like DLF (Phases I-V), Sushant Lok (I-III), South City (I and II).
Commercial scenario
Gurgaon's commercial market is still recovering from the impact of economic downturn. Post-May 2008, commercial market witnessed negative trends with a halt in transactions and falling values. According to Abhishek Sawhney, a local realtor, "Commercial market is yet to see any marked improvement. After economic downturn, companies have once again started expanding and Gurgaon is among the preferred destinations. However, while demand has increased marginally, availability has doubled with a number of vacant office spaces in localities like Golf Course Road, Sohna Road, Udyog Vihar. Hence, no significant appreciation is anticipated in office space values in the next 1-2 years."
Local realtors are more optimistic about the future of retail market, especially in prime localities like MG Road, where availability is lower than demand and values are expected to witness significant appreciation upon completion of the Metro line.
"A fall of 40% in mall rental values was observed during economic downturn. Moreover, construction on a number of ongoing projects, like that of DLF's Mall of India, were halted. The situation is improving slowly and queries are coming in from companies looking to expand. There has been a 10-20% increase in mall rental values post-June 2009," says Sawhney. According to Mehta, "Local shopping complexes with low maintenance charges (Rs 3 to Rs 4 per sq ft) like Galleria in DLF Phase IV, have witnessed a greater demand than malls in neighbouring localities."
Values in Gurgaon are appreciating under the influence of rising demand, especially in residential segment. "A number of projects have been launched by developers like Vatika and Emaar MGF, in both residential and commercial segments. Localities like Sector 66, 67, 68 and 45 are developing fast and will witness significant appreciation in the near future," says Sawhney. While commercial segment is yet to witness significant appreciation after economic downturn, infrastructure development like the completion of Gurgaon Metro line bodes well for Gurgaon's real estate market.
For more Info :-www.zameen-zaidad.com
www.propertycafeteria.com
Courtesy:- Times Property dtd:- 06-02-2009
While commercial segment is yet to witness significant appreciation after economic downturn, infrastructure developments like the completion of Gurgaon Metro line bodes well for Gurgaon's real estate market. Brix Research tracks real estate values through the economic recession and recovery
Post-2008, Gurgaon's real estate market witnessed some fluctuations. Some positive drivers of this change - completion of Gurgaon Expressway, proposal for extension of Delhi Metro rail services, as well as other developments envisaged in Gurgaon Master Plan 2021 - took real estate values to their peak in April 2008. Further, these factors ensured that values were fairly stable or fell marginally when the rest of National Capital Region was reeling under the impact of economic downturn. The latter half of 2009 witnessed appreciating residential values and now, local realtors are optimistic about future movements in 2010.
Residential scenario
Residential market witnessed significant appreciation till May 2008, but after the economic downturn began waning last year, market started recovering. According to Shailendra Mehta, a local realtor, "Market started recovering after June 2009 and residential values witnessed an upward revision between Rs 300 per sq ft and Rs 400 per sq ft. While values still haven't reached the levels of April/May 2008, they are expected to cross them by March 2010"
Observing values in April 2008 and December 2009, Brix Research analysis reveals 11% drop, on an average, in apartment capital values in prime localities of Gurgaon, like DLF (Phases I-V), Sushant Lok (I-III), South City (I and II). Drop in values may be due to after effects of economic downturn - they are now being pushed upwards by a strong demand for housing in these localities.
Builder floors too, witnessed similar trends. However, local realtors say that demand for builder-floor apartments is on a decline despite introduction of a number of projects by developers like Emaar MGF, Orchid, Vipul and Unitech, post opening of their registry in 2009. This may be due to fear of closure of registry before completion of these projects, although the facilities offered by high rise apartments like water supply, power backup, etc, make them more attractive housing option.
In rental segment, apartment values saw an average drop of around 6% between April 2008 and December 2009, in prime localities of Gurgaon like DLF (Phases I-V), Sushant Lok (I-III), South City (I and II). According to Mehta, "A drop in rental values of luxury apartments was observed due to low demand. However, there is an increasing demand for economical apartments in sizes of 1,300-1,400 sq ft and their rentals will rise in the near future."
Further, according to Mehta, infrastructure development like extension of Delhi Metro line has impacted residential values in localities situated near Metro stations - plot values have witnessed appreciation in these localities. This is evident from an average rise of 3% observed in plot values in prime Gurgaon localities like DLF (Phases I-V), Sushant Lok (I-III), South City (I and II).
Commercial scenario
Gurgaon's commercial market is still recovering from the impact of economic downturn. Post-May 2008, commercial market witnessed negative trends with a halt in transactions and falling values. According to Abhishek Sawhney, a local realtor, "Commercial market is yet to see any marked improvement. After economic downturn, companies have once again started expanding and Gurgaon is among the preferred destinations. However, while demand has increased marginally, availability has doubled with a number of vacant office spaces in localities like Golf Course Road, Sohna Road, Udyog Vihar. Hence, no significant appreciation is anticipated in office space values in the next 1-2 years."
Local realtors are more optimistic about the future of retail market, especially in prime localities like MG Road, where availability is lower than demand and values are expected to witness significant appreciation upon completion of the Metro line.
"A fall of 40% in mall rental values was observed during economic downturn. Moreover, construction on a number of ongoing projects, like that of DLF's Mall of India, were halted. The situation is improving slowly and queries are coming in from companies looking to expand. There has been a 10-20% increase in mall rental values post-June 2009," says Sawhney. According to Mehta, "Local shopping complexes with low maintenance charges (Rs 3 to Rs 4 per sq ft) like Galleria in DLF Phase IV, have witnessed a greater demand than malls in neighbouring localities."
Values in Gurgaon are appreciating under the influence of rising demand, especially in residential segment. "A number of projects have been launched by developers like Vatika and Emaar MGF, in both residential and commercial segments. Localities like Sector 66, 67, 68 and 45 are developing fast and will witness significant appreciation in the near future," says Sawhney. While commercial segment is yet to witness significant appreciation after economic downturn, infrastructure development like the completion of Gurgaon Metro line bodes well for Gurgaon's real estate market.
For more Info :-www.zameen-zaidad.com
www.propertycafeteria.com
Courtesy:- Times Property dtd:- 06-02-2009
Neharpar rises in Faridabad
Neharpar, now part of Faridabad's new Master Plan, is set to gain a foothold in big-league realty market once current development projects are completed in next 3-4 years, says
Brix Research
The Neharpar region in Faridabad was incorporated into the Master Plan of Faridabad about 5 years ago, in 2004-05, under the city's new Master Plan. With an area of approximately 3,000 acres, it covers Sectors 70 to 91. Still in its early stages of development, the area has a mix of both residential and commercial property. With multistorey apartments, plots, villas and townships, a large number of options are available in the residential category. The Municipal Corporation of Faridabad has notified Sector 79 as the commercial district in the area with individual shops and SCFs (shop-cum-flats) developed in the commercial category.
Neharpar boasts of some big developers like BPTP, SRS, Omaxe Ltd, Vipul Group, Piyush Group, Puri Constructions, RPS, etc, who have launched projects in the area. BPTP is a major developer with almost 60% of the projects in the area being under its belt. The residential plots are available in the range of Rs 10,000 and Rs 15,000 per sq yard and flats are available within a price range of approximately Rs 1,800 to Rs 2,000 per sq ft. But prices are expected to rise as development progresses. Currently, it is in early stages of infrastructure development, and connectivity with other areas of the city is also not up to the mark. Once these facilities are in place, Neharpar will be on a par with other major realty hotspots.
Private developers are equipping their projects with basic utility services. BPTP, for example, has received sanction for a 30MW power station for Sectors 75-76, but still, current facilities call for a major overhaul. In order to improve the area's connectivity, roads in and around the area need to be improved.
Government has moved in this direction by imposing Section 17(4) of Land Acquisition Act for mandatory acquisition of land which comes under the sector roads. This will ensure the development of the sector roads in the area leading to a positive impact on its valuation.
Opening of the Badarpur flyover and the Metro link will also help in attracting buyers and contribute towards developing a more positive image of the area. Moreover, HUDA is also planning to widen existing bypass at Sector 37. Such infrastructural improvements and development will add to the USP of the place.
Currently, 90% of buyers are investors lookin for long-term gains. As the property is in different stages of construction, individual buyers are not yet keen on purchasing. According to Vipin Sood, a city based realtor, "The area will be able to fully realize its potential only after 3 to 5 years and will then be able to gain foothold in the market."
for more info:- www.zameen-zaidad.com, propertycafeteria.com
Courtesy:- Times Property dtd:- 06-02-2009
Brix Research
The Neharpar region in Faridabad was incorporated into the Master Plan of Faridabad about 5 years ago, in 2004-05, under the city's new Master Plan. With an area of approximately 3,000 acres, it covers Sectors 70 to 91. Still in its early stages of development, the area has a mix of both residential and commercial property. With multistorey apartments, plots, villas and townships, a large number of options are available in the residential category. The Municipal Corporation of Faridabad has notified Sector 79 as the commercial district in the area with individual shops and SCFs (shop-cum-flats) developed in the commercial category.
Neharpar boasts of some big developers like BPTP, SRS, Omaxe Ltd, Vipul Group, Piyush Group, Puri Constructions, RPS, etc, who have launched projects in the area. BPTP is a major developer with almost 60% of the projects in the area being under its belt. The residential plots are available in the range of Rs 10,000 and Rs 15,000 per sq yard and flats are available within a price range of approximately Rs 1,800 to Rs 2,000 per sq ft. But prices are expected to rise as development progresses. Currently, it is in early stages of infrastructure development, and connectivity with other areas of the city is also not up to the mark. Once these facilities are in place, Neharpar will be on a par with other major realty hotspots.
Private developers are equipping their projects with basic utility services. BPTP, for example, has received sanction for a 30MW power station for Sectors 75-76, but still, current facilities call for a major overhaul. In order to improve the area's connectivity, roads in and around the area need to be improved.
Government has moved in this direction by imposing Section 17(4) of Land Acquisition Act for mandatory acquisition of land which comes under the sector roads. This will ensure the development of the sector roads in the area leading to a positive impact on its valuation.
Opening of the Badarpur flyover and the Metro link will also help in attracting buyers and contribute towards developing a more positive image of the area. Moreover, HUDA is also planning to widen existing bypass at Sector 37. Such infrastructural improvements and development will add to the USP of the place.
Currently, 90% of buyers are investors lookin for long-term gains. As the property is in different stages of construction, individual buyers are not yet keen on purchasing. According to Vipin Sood, a city based realtor, "The area will be able to fully realize its potential only after 3 to 5 years and will then be able to gain foothold in the market."
for more info:- www.zameen-zaidad.com, propertycafeteria.com
Courtesy:- Times Property dtd:- 06-02-2009
Wednesday, February 3, 2010
Mahindra Aura, 3 Bedroom multistory apartments for sale
Type- Multistory Apartments
Sector 110A - Gurgaon,
Price – Rs. 2616250 *
Description - Mahindra Aura, 3 Bedroom multistory apartments for sale @ Rs. 2616250 in Sector 110A - Gurgaon, 17 minutes from Delhi International Airport, A short drive from MG Road, the high-street of Gurgaon, Adjacent to a thriving neighbourhood with world class schools, universities, hospitals and malls in the vicinity, Very close to upcoming Dwarka-Gurgaon Expressway connecting West Delhi to Gurgaon. Close proximity to proposed metro.
16.84 acres of Contiguous land 500 meters from existing developed sector
Plot adjoining existing roads on 2 sides
730 feet front abutting main road
The site designated for residential use (as per the Gurgaon 2021 master plan).
The site is a contiguous, leveled land parcel with large number of trees.
KITCHEN Floor – Anti Skid Ceramic Tiles
Wall – Ceramic Tiles up to 2’-0” above counter + OBD Painting
Ceiling – D/D
Counter – Polished Granite top
Fitting/Fixtures – CP Fitting Single Bowl stainless steel sink.
MASTER TOILET Floor – Ceramic Anti Skid Tiles
Wall – Ceramic Tiles up to 7’-0”
Ceiling – Grid Ceiling
Fittings/Fixtures – CP Fittings
BALCONIES Floor – Textured Ceramic Tiles
M. S. Railing
ENTRANCE LOBBY AT G.F. Floor – Udaipur Green Stone
Wall – OBD
Ceiling – D/D
TYPICAL LIFT LOBBY Floor – Marbel / Vetrified
STAIRCASES Kota Stone
Wall – D/D
M.S. Railing
ELECTRICAL Modular Switches
Telephone Point in Living /Master Bedroom
T.V. Points in Leaving/Master Bedroom
You can get more information about this 3 bedroom Multistory Apartments, real estate information, real estate investment options, real estate agents information and information about 2 bedrooms flats for sale, 3 bedrooms flats for sale, 4 bedrooms flats for sale in gurgaon and delhi /NCR and also we provides real estate services like property for sale, project for sale, property investment, buy houses, sale houses, homes buyers, homes sellers and many more
On my web sites like http://www.zameen-zaidad.com/mahindra-aura-gurgaon.aspx and
http://www.propertycafeteria.com/main.aspx
Sector 110A - Gurgaon,
Price – Rs. 2616250 *
Description - Mahindra Aura, 3 Bedroom multistory apartments for sale @ Rs. 2616250 in Sector 110A - Gurgaon, 17 minutes from Delhi International Airport, A short drive from MG Road, the high-street of Gurgaon, Adjacent to a thriving neighbourhood with world class schools, universities, hospitals and malls in the vicinity, Very close to upcoming Dwarka-Gurgaon Expressway connecting West Delhi to Gurgaon. Close proximity to proposed metro.
16.84 acres of Contiguous land 500 meters from existing developed sector
Plot adjoining existing roads on 2 sides
730 feet front abutting main road
The site designated for residential use (as per the Gurgaon 2021 master plan).
The site is a contiguous, leveled land parcel with large number of trees.
KITCHEN Floor – Anti Skid Ceramic Tiles
Wall – Ceramic Tiles up to 2’-0” above counter + OBD Painting
Ceiling – D/D
Counter – Polished Granite top
Fitting/Fixtures – CP Fitting Single Bowl stainless steel sink.
MASTER TOILET Floor – Ceramic Anti Skid Tiles
Wall – Ceramic Tiles up to 7’-0”
Ceiling – Grid Ceiling
Fittings/Fixtures – CP Fittings
BALCONIES Floor – Textured Ceramic Tiles
M. S. Railing
ENTRANCE LOBBY AT G.F. Floor – Udaipur Green Stone
Wall – OBD
Ceiling – D/D
TYPICAL LIFT LOBBY Floor – Marbel / Vetrified
STAIRCASES Kota Stone
Wall – D/D
M.S. Railing
ELECTRICAL Modular Switches
Telephone Point in Living /Master Bedroom
T.V. Points in Leaving/Master Bedroom
You can get more information about this 3 bedroom Multistory Apartments, real estate information, real estate investment options, real estate agents information and information about 2 bedrooms flats for sale, 3 bedrooms flats for sale, 4 bedrooms flats for sale in gurgaon and delhi /NCR and also we provides real estate services like property for sale, project for sale, property investment, buy houses, sale houses, homes buyers, homes sellers and many more
On my web sites like http://www.zameen-zaidad.com/mahindra-aura-gurgaon.aspx and
http://www.propertycafeteria.com/main.aspx
Mapsko Paradise, 3 Bedroom multistory apartments for sale
Type- Multistory Apartments
Sec-83, Gurgaon,
Price – Rs. 3645000 *
Description - Mapsko Paradise, 3 Bedroom multistory apartments for sale @ Rs. 3645000 in Sec-83, Gurgaon, 20 minutes drive from IGI airport & 10 minutes drive from IFFCO chowk, Close to Malls, SEZs, IT Parks, Hotels and other Colonies etc, 1 km distance from upcoming ISBT & Metro Depot + 5 metro stations within 3kms radius
Premium living with affordable pricing.
Access from NH-8 Expressway & Dwarka Expressway.
Earthquake resistant building with eco-friendly designs.
Open green spaces providing pollution free enviornment
A km distance from upcoming ISBT & Metro Depot + 5 metro stations within 3kms radius.
24/7 electronic and manned security with cctv facility.
24/7 treated water supply.
100% power back up & high speed capacity lifts.
Rain water harvesting system.
Close to Malls, SEZs, IT Parks, Hotels and other Colonies etc.
Facilities of schools, colleges & Hospital are available.
20 minutes drive from IGI airport & 10 minutes drive from IFFCO chowk.
Twin Sector Road facility for more access.
Club with multipurpose gymnasium with good facilities.
Convenience shopping & solar street lighting.
You can get more information about this 3 bedroom Multistory Apartments, real estate information, real estate investment options, real estate agents information and information about 2 bedrooms flats for sale, 3 bedrooms flats for sale, 4 bedrooms flats for sale in gurgaon and delhi /NCR and also we provides real estate services like property for sale, project for sale, property investment, buy houses, sale houses, homes buyers, homes sellers and many more
On my web sites like http://www.zameen-zaidad.com/mapsko-paradise-gurgaon.aspx and
http://www.propertycafeteria.com/main.aspx
Sec-83, Gurgaon,
Price – Rs. 3645000 *
Description - Mapsko Paradise, 3 Bedroom multistory apartments for sale @ Rs. 3645000 in Sec-83, Gurgaon, 20 minutes drive from IGI airport & 10 minutes drive from IFFCO chowk, Close to Malls, SEZs, IT Parks, Hotels and other Colonies etc, 1 km distance from upcoming ISBT & Metro Depot + 5 metro stations within 3kms radius
Premium living with affordable pricing.
Access from NH-8 Expressway & Dwarka Expressway.
Earthquake resistant building with eco-friendly designs.
Open green spaces providing pollution free enviornment
A km distance from upcoming ISBT & Metro Depot + 5 metro stations within 3kms radius.
24/7 electronic and manned security with cctv facility.
24/7 treated water supply.
100% power back up & high speed capacity lifts.
Rain water harvesting system.
Close to Malls, SEZs, IT Parks, Hotels and other Colonies etc.
Facilities of schools, colleges & Hospital are available.
20 minutes drive from IGI airport & 10 minutes drive from IFFCO chowk.
Twin Sector Road facility for more access.
Club with multipurpose gymnasium with good facilities.
Convenience shopping & solar street lighting.
You can get more information about this 3 bedroom Multistory Apartments, real estate information, real estate investment options, real estate agents information and information about 2 bedrooms flats for sale, 3 bedrooms flats for sale, 4 bedrooms flats for sale in gurgaon and delhi /NCR and also we provides real estate services like property for sale, project for sale, property investment, buy houses, sale houses, homes buyers, homes sellers and many more
On my web sites like http://www.zameen-zaidad.com/mapsko-paradise-gurgaon.aspx and
http://www.propertycafeteria.com/main.aspx
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