Better known for its annual Suraj Kund Mela and perhaps the Badkhal Lake, Faridabad chose to step aside and allow neo-cities Noida and Gurgaon to hog the limelight in the last few years. Content with its status as an industrial and residential satellite town for those who could not afford Delhi land rates, Faridabad made no attempt to woo the IT and MNC s setting up base in its neighborhood.
Real estate in Faridabad has thrived in spite of this indifference. In fact, Faridabad is being touted as NCR’s hottest property as new areas of land and improved connectivity with other cities is being strengthened.
Enjoying the most advantageous location with Delhi, Faridabad is also very well connected to Gurgaon and Noida. A strong infrastructure package for the city includes the Taj Expressway, the proposed highway from Kalindi Kunj connecting all the new sectors in Faridabad to join Mathura Road, the Faridabad - Noida - Ghaziabad - Kundli Expressway, the KMP Expressway, and the Badarpur over bridge. And with the Metro link with Delhi in the pipeline, Faridabad is a sure bet., currently witnessing price escalation of land by as high as 100 per cent. In the last year, land prices in this satellite town have increased by more than 60 to 70%. In prime sectors like 15 and 16 land prices fetch Rs 20,000 to 22,000 per sq yard today.. In sectors 81 to 90, the prices have increased to Rs 9,000-Rs 10,000 per sq. yard.
Faridabad has a sizeable affluent and trendy population, notwithstanding the absence of the MNCs, which have been catalysts in the transformation of Gurgaon and Noida. The city is at par with other NCR cities with regard to quality of construction – BPTP Parklands, Omaxe and Era Infrastructure have ultra-modern residential projects coming up. Whilst Sectors 1-65 have been developed by HUDA, the new sectors from 66 to 91 are dominated by private builders.
Faridabad has traditionally been an industrial city, with 300 large and 10,000 small scale units and the Haryana Government’s new Industrial Model Township will integrate industrial, commercial and residential real estate.
Large commercial projects in the city include Eldeco’s and the city’s first theme mall “Station 1” in Sector12, based on a steam engine! Ansal and Crown Plaza are lavishly designed malls catering to chidren’s entertainment and hospitality. All signature brands and lifestyle products are on display. Mall Manhattan, a Parsvanth –Landmark Builders’ joint venture in Sector 20A is popular amongst shoppers.
So if you’re wondering where to put your money,real estate Faridabad has a price advantage over other NCR cities, backed with growing infrastructure spell good returns in the near future.
Friday, November 23, 2007
Real Estate Noida
Real estate NOIDA in the present times has emerged as one of the most enviable destination for property investors. Property in Noida qualifies for investing in a big way as also because of a pollution free and a highly supportive industrial environment with its unique infrastructure providing numerous and matchless facilities.
Commercial Property in Noida
Noida houses the head-office of the Software Technology Park (STP) while various automobile ancillary units with major car manufacturers have already started their operations. It is the operational hub for multinational firms outsourcing IT services.
NOIDA today exemplifies the concept of integrated township in its smooth and wide roads, uninterrupted power supply, clean and safe drinking water, and splendid residential complexes in a serene and peaceful environment
Commercial Property in Noida
Noida houses the head-office of the Software Technology Park (STP) while various automobile ancillary units with major car manufacturers have already started their operations. It is the operational hub for multinational firms outsourcing IT services.
NOIDA today exemplifies the concept of integrated township in its smooth and wide roads, uninterrupted power supply, clean and safe drinking water, and splendid residential complexes in a serene and peaceful environment
PROPERTY IN GHAZIABAD
Situated on Delhi's eastern periphery, Property in Ghaziabad is rapidly emerging as the residential nucleus for IT professionals working in NOIDA and Delhi property in India Ghaziabad is also gaining popularity owing to its proximity to the Commonwealth Games locations. Newsweek included Ghaziabad in its list of '10 Most Dynamic Cities' in the world and described it as ' India's hottest city' that "is emerging as the next popular address for Delhi-bound commuters". As affordable housing becomes the key to sales in a slowing market, key Delhi real estate developers have developed affordable residential properties in Ghaziabad along the NH-24, leading to Hapur, and along NH-58, leading to Meerut in Uttar Pradesh.
Ghaziabad's proximity to key business districts in Delhi makes it a good option for Delhi's residential real estate buyers. Large commercial developments in Noida and Greater Noida in the vicinity also adds to attraction for properties in Ghaziabad to Delhi Property buyers. Also on the cards is a 1500-acre township, a hi-tech city in Ghaziabad. The city has emerged as one of the best investment destinations for Delhi property buyers.Ghaziabad will also be connected by the proposed Metro line in Delhi Metro Rail Corporation's Phase II link from Anand Vihar to Vaishali at Kaushambi. The project is scheduled to be completed by September 2010. There is also a proposal to develop 14 flyovers which will help in reducing the traffic congestion, leading to an increase in real estate value in Delhi's suburb - Ghaziabad .
The capital values in Indirapuram in Ghaziabad in October were between Rs. 3,000–3,500/sq ft (builder flats) and Rs 2800-3000/sq ft (Cooperative housing societies) for the month of October. (Source: MagicBricks.com). In spite of a slowdown in the Delhi NCR residential real estate market, Ghaziabad's property values have held or have risen marginally between August and October. Anil Kumar Singh, a broker operating in Ghaziabad says attributes the escalation in values to the increase in demand, good location and the fact that since almost everything is sold out so its re-sale transactions. Proximity to Delhi along with good connectivity and transport links is also considered a big advantage
Ghaziabad's proximity to key business districts in Delhi makes it a good option for Delhi's residential real estate buyers. Large commercial developments in Noida and Greater Noida in the vicinity also adds to attraction for properties in Ghaziabad to Delhi Property buyers. Also on the cards is a 1500-acre township, a hi-tech city in Ghaziabad. The city has emerged as one of the best investment destinations for Delhi property buyers.Ghaziabad will also be connected by the proposed Metro line in Delhi Metro Rail Corporation's Phase II link from Anand Vihar to Vaishali at Kaushambi. The project is scheduled to be completed by September 2010. There is also a proposal to develop 14 flyovers which will help in reducing the traffic congestion, leading to an increase in real estate value in Delhi's suburb - Ghaziabad .
The capital values in Indirapuram in Ghaziabad in October were between Rs. 3,000–3,500/sq ft (builder flats) and Rs 2800-3000/sq ft (Cooperative housing societies) for the month of October. (Source: MagicBricks.com). In spite of a slowdown in the Delhi NCR residential real estate market, Ghaziabad's property values have held or have risen marginally between August and October. Anil Kumar Singh, a broker operating in Ghaziabad says attributes the escalation in values to the increase in demand, good location and the fact that since almost everything is sold out so its re-sale transactions. Proximity to Delhi along with good connectivity and transport links is also considered a big advantage
Searching for India's Best Real Estate Property Listings Website
Zameen-zaidad.com, a world class Real Estate Portal system enables local dealers, developers, buyers, sellers, owners and tenants to build and maintain their own pool of information and interact, providing local residents with access to information about properties through India.
"The portal also serves as a great marketing vehicle for other local business websites. All clients are given free text and graphic listings", he added
In the 37 Months since the portal's launch, it has been responsible many property deals in India and Overseas. "We are definitely using zameen-zaidad.com as part of our sales strategy for acquiring new clients. We use it as part of our internet marketing portfolio, to show prospective clients our capabilities and the quality of our work."
"The portal also serves as a great marketing vehicle for other local business websites. All clients are given free text and graphic listings", he added
In the 37 Months since the portal's launch, it has been responsible many property deals in India and Overseas. "We are definitely using zameen-zaidad.com as part of our sales strategy for acquiring new clients. We use it as part of our internet marketing portfolio, to show prospective clients our capabilities and the quality of our work."
Tuesday, November 13, 2007
NEW BOMBAY & THANE
In January this year, a 1,824-sq-m plot in Navi Mumbai was sold for Rs 78 crore. At Rs 4.04 lakh per sq m, this deal shattered all records, including those set by its rich cousin Mumbai. Later this year, the 37-year-old town across the harbour, planned by architect Charles Correa, created yet another record. Siddi Home Makers, which opened booking for its new project Ellora Castle at a whopping Rs 5 crore apiece, announced that it will sell flats only through invitation because of high demand.
Realty prices in Navi Mumbai has galloped, ever since Cidco acquired a strip of marshy land lying between Thane and Raigad districts in Maharashtra. Real estate consultants prices are only to go up as mega projects like international airport and Reliance Industries’ SEZ take off. Leading real estate consultants Jones Lang Lasalle Meghraj says Navi Mumbai is a potential high growth area. Growing economic activity due to such large projects "will generate a lot of appreciation of capital and rental in the medium to-long term," says its recent report.
Global real estate consultants DTZ says the satellite city's USPs are good HR catchment and easy availability of office space. It says office space rentals in Navi Mumbai have touched Rs 60 per sq ft per month. As compared to Mumbai, the city is well laid out with large tracts of open spaces and wide roads."You are closer to the city, but you are away from the chaos," says Reshma Kapadia, who recently shifted her investment consultancy firm from the Western suburb of Borivali to Belapur CBD. Ms Kapadia says her work-home relationship is much stronger ever since she moved in. "Besides, I get a lot of time for myself because I spend a lot less on travelling now."
This shift in preference is what lures big-ticket developers, who never had a prominent presence here, to New Bombay. The Rahejas have already arrived here; the Mumbai-based developers recently opened a mega mall cum multiplex complex, while a host of smaller players are getting ready to enter the market. "If anything was missing in New Bombay, it was the lack of good entertainment facilities. These malls will make up for that," says IT executive Ranjini Rangan.
The boom in the commercial sector has already started reflecting on the housing sector. The prices, which were in the Rs 15,00-2,000 per sq ft bracket, was almost doubled in most places. Apartments on the sea-facing palm beach road, has valued to Rs 6,000 and above. "Affordability is not an issue anymore, as long as you offer premium products," says Mr Dilip Jindal of Jindal Enterprises, who has developed a couple of big projects in this area.
Almost all realtors ET spoke to said that this region will survive the overall chill in the real estate market.
The other realty hot spot off Mumbai is Thane. According to international property consultants KnightFrank India, Thane has witnessed large scale residential developments over the last few years. The key reasons for the sudden shift are the availability of vast stretches of land due to closure/relocation of industries. There has been a steady growth of high rise and self sustaining townships in Thane helping it to emerge as a new residential location for the middle and upper middle income group. Current capital values for Grade A apartment range from Rs 3,500 -Rs 5,000 per sq ft.
“Thane will see an infusion of close to 7.7 million sq ft of Grade A residential space by 2009-2010, a senior analyst with KnightFrank India said. At present, the action in the residential space is concentrated on the Glady’s Alwares Road and Ghodbunder Road
Realty prices in Navi Mumbai has galloped, ever since Cidco acquired a strip of marshy land lying between Thane and Raigad districts in Maharashtra. Real estate consultants prices are only to go up as mega projects like international airport and Reliance Industries’ SEZ take off. Leading real estate consultants Jones Lang Lasalle Meghraj says Navi Mumbai is a potential high growth area. Growing economic activity due to such large projects "will generate a lot of appreciation of capital and rental in the medium to-long term," says its recent report.
Global real estate consultants DTZ says the satellite city's USPs are good HR catchment and easy availability of office space. It says office space rentals in Navi Mumbai have touched Rs 60 per sq ft per month. As compared to Mumbai, the city is well laid out with large tracts of open spaces and wide roads."You are closer to the city, but you are away from the chaos," says Reshma Kapadia, who recently shifted her investment consultancy firm from the Western suburb of Borivali to Belapur CBD. Ms Kapadia says her work-home relationship is much stronger ever since she moved in. "Besides, I get a lot of time for myself because I spend a lot less on travelling now."
This shift in preference is what lures big-ticket developers, who never had a prominent presence here, to New Bombay. The Rahejas have already arrived here; the Mumbai-based developers recently opened a mega mall cum multiplex complex, while a host of smaller players are getting ready to enter the market. "If anything was missing in New Bombay, it was the lack of good entertainment facilities. These malls will make up for that," says IT executive Ranjini Rangan.
The boom in the commercial sector has already started reflecting on the housing sector. The prices, which were in the Rs 15,00-2,000 per sq ft bracket, was almost doubled in most places. Apartments on the sea-facing palm beach road, has valued to Rs 6,000 and above. "Affordability is not an issue anymore, as long as you offer premium products," says Mr Dilip Jindal of Jindal Enterprises, who has developed a couple of big projects in this area.
Almost all realtors ET spoke to said that this region will survive the overall chill in the real estate market.
The other realty hot spot off Mumbai is Thane. According to international property consultants KnightFrank India, Thane has witnessed large scale residential developments over the last few years. The key reasons for the sudden shift are the availability of vast stretches of land due to closure/relocation of industries. There has been a steady growth of high rise and self sustaining townships in Thane helping it to emerge as a new residential location for the middle and upper middle income group. Current capital values for Grade A apartment range from Rs 3,500 -Rs 5,000 per sq ft.
“Thane will see an infusion of close to 7.7 million sq ft of Grade A residential space by 2009-2010, a senior analyst with KnightFrank India said. At present, the action in the residential space is concentrated on the Glady’s Alwares Road and Ghodbunder Road
Investment in Pune
Investing in Pune for the medium-to-long term makes the most sense in today’s real estate scenario. For the perfect portfolio, one should concentrate on the more developing areas that still feature competitive rates. The safest and most potential laden investment opportunities in Pune today lie in its townships, as they provide highly saleable property with the right mix of basic amenities and add-ons. The hottest investment destinations in Pune for modest-to-medium budgets in Pune are currently Sopan Baugh, Wanowrie, Dhankawadi and Katraj. This applies equally to residential and retail/commercial investments. Anything from Hinjewadi towards Mumbai that is within commutable distance also makes big sense, say real estate experts. Properties from Hinjewadi towards Pune may make less sense from a modest-to-medium budget perspective.
Ever since the Maharashtra government announced plans for a Multi-modal International Hub Airport at Nagpur (MIHAN) in 2002-03, the real estate sector here is witnessing brisk activity. According to Knight Frank, a number of locations around the proposed MIHAN project have seen high escalation in land and residential rates. A big plush for the state’s second capital is IT biggies’ mega investment plans. Satyam Infotech, GE, DLF, Shapoorji Pallonji, L&T, Infotech, Patni Computers and Microsoft have all taken up large tracts of land in the SEZ within the cargo hub, and this in turn will augment the residential demand in the region, says a Knight Frank report.
Demand for housing is mostly driven by employees in IT/ITES sectors and BPO professionals as well as those with insurance and banking businesses. According to a Knight Frank report, what Nagpur lacks now is dedicated office building for IT/ITES businesses, since the industry is at a nascent stage. The few IT companies in the city are located at the MIDC IT Park at Sadar and the IT Park at Parsodi. Developments existing in the CBD locations and those in Itwari, Gandhibagh, Ramdaspeth and Dharampeth have a mix of retail and office space. Insufficient demand as well as lack of good plot sizes has restricted new commercial. The Knight Frank report says the upcoming residential locations in Nagpur are Kamptee Road in the north-east, Khamla and Hingna Road in the south-west and Besa and Wardha Road in the south, which are home to a number of apartment complexes as well as stand-alone buildings
Ever since the Maharashtra government announced plans for a Multi-modal International Hub Airport at Nagpur (MIHAN) in 2002-03, the real estate sector here is witnessing brisk activity. According to Knight Frank, a number of locations around the proposed MIHAN project have seen high escalation in land and residential rates. A big plush for the state’s second capital is IT biggies’ mega investment plans. Satyam Infotech, GE, DLF, Shapoorji Pallonji, L&T, Infotech, Patni Computers and Microsoft have all taken up large tracts of land in the SEZ within the cargo hub, and this in turn will augment the residential demand in the region, says a Knight Frank report.
Demand for housing is mostly driven by employees in IT/ITES sectors and BPO professionals as well as those with insurance and banking businesses. According to a Knight Frank report, what Nagpur lacks now is dedicated office building for IT/ITES businesses, since the industry is at a nascent stage. The few IT companies in the city are located at the MIDC IT Park at Sadar and the IT Park at Parsodi. Developments existing in the CBD locations and those in Itwari, Gandhibagh, Ramdaspeth and Dharampeth have a mix of retail and office space. Insufficient demand as well as lack of good plot sizes has restricted new commercial. The Knight Frank report says the upcoming residential locations in Nagpur are Kamptee Road in the north-east, Khamla and Hingna Road in the south-west and Besa and Wardha Road in the south, which are home to a number of apartment complexes as well as stand-alone buildings
AHMEDABAD & VADODARA
DLF, the Rahejas, Godrej, Niho Constructions –– Ahmedabad has been witnessing a flurry of big players of late. Also a lot of players from state expanded presence in other regions. For instance, the Ahmedabad-based leading Adani Group clinched the biggest real-estate deal of Rs 2500-Rs 3000 crore for acquiring space in the premium Bandra-Kurla complex in Mumbai. The residential segment is seeing good demand from investors as well as actual buyers. And the demand in commercial segment is coming from retailers and corporates, mainly private banks and stock broking firms, which are expanding base here. The interest of top IT players is driving the demand for corporate spaces. Leading IT companies such as Infosys, Satyam, Wipro are eyeing Ahmedabad for the expansions. Also, big realtors such as DLF and the Rahejas are planning to come up with IT parks in Ahmedabad and Vadodara. Gujarat government’s policy of promoting knowledge cities is also working in its favour. “The retail as well as office space demand is expected to gain momentum. Several Tier-III cities in the population bracket of 60,000 to one million are on the radar of leading retailers. However, we don't expect oversupply of retail space in the city,” Trammell Crow Meghraj's vice president, retail, Shubhranshu Pani tells ET.
Property is definitely one of the key areas for investment in Goa.
Property is definitely one of the key areas for investment in Goa. Real estate has been on the roll last couple of years, sending land prices sky rocketing.
Goa has seen an average 8% to 10% growth in land values since 1995. And the state along with the rest of the country faced a lull period with prices falling from 2000 to 2003; it witnessed a sudden boom in 2004 with prices rising an average 30%. Land value in capital Panaji has doubled in the last one year while other places across the state have seen a steady 20% increase.
Presently capital Panjim is the most expensive place to acquire land. The average cost of an area here rose from Rs 25,000 per sq mts to Rs 35,000 per sq mt, with prices touching Rs 50,000 per sq.mt is crème locales like Dona Paula and other water fronts. Calangute and the northern coastal belt, comes a close second with the average start up price for a property being Rs 25,000/sq mts, costs however increase with proximity to the sea…
But head to south Goa, and you’ll probably get a better deal. Prices here are at least 30% lower than northern coast with start up rate for a place near Colva beach ranging between Rs15,000 to Rs18,000 per sq mts. Earlier speaking to ET, Darryl Pereira, CEO, Reira Group, “The social scene in north Goa is much better than in south Goa and this makes a big difference. Everyone wants a place in Calangute.” Beaches in the north are abuzz with activities; north is popular mainly for its night life. In comparison, the coastal belt of southern Goa is relatively quite and known more for its picturesque locale.
Demand for land is not only along Goa’s coastal belt but also hinter-lands, having proximity to the city. Demand for land comes mainly from two segments –– the big hoteliers looking to set up a resort here or from people scouting for a holiday home. People mainly from metros like Delhi, Mumbai, Bangalore and also Gujarat envisage a holiday home in Goa. According to real estate developers, nearly 75% of investments in Goa are by Indians living outside state, looking for a holiday home. NRIs, Pose constitute 15% of the demand, while remaining is from within Goa.
Besides this, Goa is also home to several pharmaceuticals like Blue Cross Labs, Knoll Pharma, E-Merck India, Colorcon Asia, Geno Pharma, Cadila Healthcare, Glenmark, Ratio Pharm India, Ranbaxy, Cipla, Indoco Remedies, Vicco Labs, Lupin, Unichem, Wyeth, Sander Pharma, Sanofi-Aventis, Zandu Pharma and many more.
Goa exports pharmaceuticals worth approximately Rs 550 crore annually and produces one-tenth of the pharmaceuticals manufactured in the country, amounting to Rs 2,800-crore businesses. Pharmaceutical giant Cipla’s Meditab Specialties has already begun work on the Rs 500 crore worth SEZ, which is expected to further boost the pharmaceutical segment here. This, in addition to state government's plans to develop non polluting industries, SEZs and IT parks along with state's plans to provide broadband wi-fi facility everywhere will sure add value to any investment.
Courtesy: E.T. INITIATIVE Zone WESTERN BUSINESS REVIEW
Goa has seen an average 8% to 10% growth in land values since 1995. And the state along with the rest of the country faced a lull period with prices falling from 2000 to 2003; it witnessed a sudden boom in 2004 with prices rising an average 30%. Land value in capital Panaji has doubled in the last one year while other places across the state have seen a steady 20% increase.
Presently capital Panjim is the most expensive place to acquire land. The average cost of an area here rose from Rs 25,000 per sq mts to Rs 35,000 per sq mt, with prices touching Rs 50,000 per sq.mt is crème locales like Dona Paula and other water fronts. Calangute and the northern coastal belt, comes a close second with the average start up price for a property being Rs 25,000/sq mts, costs however increase with proximity to the sea…
But head to south Goa, and you’ll probably get a better deal. Prices here are at least 30% lower than northern coast with start up rate for a place near Colva beach ranging between Rs15,000 to Rs18,000 per sq mts. Earlier speaking to ET, Darryl Pereira, CEO, Reira Group, “The social scene in north Goa is much better than in south Goa and this makes a big difference. Everyone wants a place in Calangute.” Beaches in the north are abuzz with activities; north is popular mainly for its night life. In comparison, the coastal belt of southern Goa is relatively quite and known more for its picturesque locale.
Demand for land is not only along Goa’s coastal belt but also hinter-lands, having proximity to the city. Demand for land comes mainly from two segments –– the big hoteliers looking to set up a resort here or from people scouting for a holiday home. People mainly from metros like Delhi, Mumbai, Bangalore and also Gujarat envisage a holiday home in Goa. According to real estate developers, nearly 75% of investments in Goa are by Indians living outside state, looking for a holiday home. NRIs, Pose constitute 15% of the demand, while remaining is from within Goa.
Besides this, Goa is also home to several pharmaceuticals like Blue Cross Labs, Knoll Pharma, E-Merck India, Colorcon Asia, Geno Pharma, Cadila Healthcare, Glenmark, Ratio Pharm India, Ranbaxy, Cipla, Indoco Remedies, Vicco Labs, Lupin, Unichem, Wyeth, Sander Pharma, Sanofi-Aventis, Zandu Pharma and many more.
Goa exports pharmaceuticals worth approximately Rs 550 crore annually and produces one-tenth of the pharmaceuticals manufactured in the country, amounting to Rs 2,800-crore businesses. Pharmaceutical giant Cipla’s Meditab Specialties has already begun work on the Rs 500 crore worth SEZ, which is expected to further boost the pharmaceutical segment here. This, in addition to state government's plans to develop non polluting industries, SEZs and IT parks along with state's plans to provide broadband wi-fi facility everywhere will sure add value to any investment.
Courtesy: E.T. INITIATIVE Zone WESTERN BUSINESS REVIEW
Friday, November 2, 2007
BIG PLANS FOR KMP EXPRESSWAY
To promote planned development for the new townships at the proposed Global Corridor along Kundli-Manesar-Palwal (KMP) Expressway, the Haryana Government has decided to build 7 to 8 "theme cities".
The themes include Education City, IT City, Bio-Science City, Fashion City, Leisure City among others, in addition to Industrial Model Townships (IMTs) and special economic zones (SEZs). The state government has planned the townships along a 135-km stretch off the KMP Expressway (also known as Western Peripheral Expressway).
The state government is also exploring the possibility of laying a Ring Rail network parallel to the Western and Eastern Expressway to improve transportation facilities. The railway network would link the NCR towns. The state government has planned to develop the 62000hectare land near the DelhiHaryana border for the proposed Global Corridor.
"Besides, we have decided to improve civic infrastructure in NCR towns like Kundli, Faridabad, Bahadurgarh and Gurgaon. The emphasis would also be to promote social infrastructure such as educational and commercial facilities. To facilitate this, the Haryana government has decided to float 7 to 8 theme cities in the Global Corridor," S.S. Dhillon, director of Town & Country Planning Department (DTCP) told HT.
The DTCP said that the Education City would be built in Kundli (Sonepat), the IMT at Kharkhoda (between Kundli and Sampla), the Bio-Science City in Sampla, the IT City in Badli Jahagirpur, the Fashion/Leather City in Sohna, the Law University in Manesar and the Freight City in Palwal (Faridabad).
"We hired a consultancy firm for Rs 65 lakh to conduct a feasibility study for the proposed Rajiv Gandhi Education City spread over 5000 acres of land. Work on the 2000 acres acquired for the purpose has started and we are in the process of acquiring an additional 3000 acres," Dhillon said.
The government has also sanctioned theme SEZs and IMTs, including an Engineering SEZ by the Raheja's in Manesar, Technology parks comprising IT parks and Bio-Technology parks and the R&D hubs at Manesar The 500-acre European Technology Park (ETP) is set to come up in Palwal along the expressway Arun Anand, CEO of TDI Group, said the Haryana government's plan to add social infrastructure along the KMP Expressway would ensure a better environment to residents.
Courtesy: ET, dtd: 26th Oct
The themes include Education City, IT City, Bio-Science City, Fashion City, Leisure City among others, in addition to Industrial Model Townships (IMTs) and special economic zones (SEZs). The state government has planned the townships along a 135-km stretch off the KMP Expressway (also known as Western Peripheral Expressway).
The state government is also exploring the possibility of laying a Ring Rail network parallel to the Western and Eastern Expressway to improve transportation facilities. The railway network would link the NCR towns. The state government has planned to develop the 62000hectare land near the DelhiHaryana border for the proposed Global Corridor.
"Besides, we have decided to improve civic infrastructure in NCR towns like Kundli, Faridabad, Bahadurgarh and Gurgaon. The emphasis would also be to promote social infrastructure such as educational and commercial facilities. To facilitate this, the Haryana government has decided to float 7 to 8 theme cities in the Global Corridor," S.S. Dhillon, director of Town & Country Planning Department (DTCP) told HT.
The DTCP said that the Education City would be built in Kundli (Sonepat), the IMT at Kharkhoda (between Kundli and Sampla), the Bio-Science City in Sampla, the IT City in Badli Jahagirpur, the Fashion/Leather City in Sohna, the Law University in Manesar and the Freight City in Palwal (Faridabad).
"We hired a consultancy firm for Rs 65 lakh to conduct a feasibility study for the proposed Rajiv Gandhi Education City spread over 5000 acres of land. Work on the 2000 acres acquired for the purpose has started and we are in the process of acquiring an additional 3000 acres," Dhillon said.
The government has also sanctioned theme SEZs and IMTs, including an Engineering SEZ by the Raheja's in Manesar, Technology parks comprising IT parks and Bio-Technology parks and the R&D hubs at Manesar The 500-acre European Technology Park (ETP) is set to come up in Palwal along the expressway Arun Anand, CEO of TDI Group, said the Haryana government's plan to add social infrastructure along the KMP Expressway would ensure a better environment to residents.
Courtesy: ET, dtd: 26th Oct
DEHRADUN SEES REALTY BOOM
DEHRADUN, THE PICTURESQUE 'KNOWLEDGE CAPITAL' OF INDIA, IS FAST EMERGING AS A FAVOURED FIELD FOR NATIONAL REAL ESTATE PLAYERS.
With the wellknown hill station Mussoorie, a mere one-hour drive away, Dehradun has always been known for both its scenic beauty, location and the various institutes and schools based in and around the area. Capitalising on these assets, builders with a national presence are now exploring their options and setting up projects in commercial as well as residential segments.
Premier educational institutes like the Doon School, Welhams, the Indian Military Academy, Lal Bahadur Shastri National Academy of Administration, the Forest Research Institute, HNB Garhwal University, IIP and Doon University dot the cityscape. Enlarging this knowledge tank further, the state government is now developing Dehradun into an IT and BPO destination by providing a host of incentives to new industries like 100 per cent exemption on central excise for 10 years and on income tax for the first five years.
Says Pradeep Jain, Chairman, Parsvnath Developers whose company has recently received the final notification from the Central Government for the setting up of an IT/ITES, SEZ on Sahastra Dhara Road in the city "After being made the state capital, Dehradun has taken rapid strides towards industrialisation and urbanisation. It's an upcoming destination with a lot of potential and that too with an upside real estate market."
Avers Neeraj Aggrawal, CEO, GTM Builders and Promoters, slated to be coming up with the biggest approved group housing project in the hill station, GTM Forest & Health on NH-72, "Dehradun is the capital of the new-born state of Uttarakhand and thus has immense scope for development. With so many industries coming up because of the tax benefits offered by the state, the city is surely going to become a popular IT hub on the lines of Pune."
Spearheading the development in the township is the State Industrial Development Corporation of Uttaranchal Limited (SIDCUL) - a body that plays a pivotal role. SIDCUL is developing a Rs. 12 crore Pharma City in Sela Qui on Chakrata Road across more than 50 acres. In addition to this, it is setting up a 65-acre state-of-the-art Software Technology Park with intelligent buildings and a hitech habitat centre. An STPI earth station will also be established in the region.
The growth is in the right direction as can be gauged from what Jain points out, “A good number of IT/ITES professional working in the NCR region belong to this state."
Dehradun's realty market is also doing well. Remarks Sunirmol Dubey, a leading property consultant in the city, "Dehradun today has become a seller's market growing at a very healthy pace. Within two years, property here has appreciated over three times. There is a boom in commercial property as well. Every three years, there is a 15-20 per cent increase in rentals and rented property fetches 7.5 per cent returns per annum." Dubey feels that the main reasons for the rapid development are good climate and adequate infrastructure. "Several inherent advantages of Dehradun including a good climate, low crime rate, good infrastructure like power and water, prominent educational centres have also contributed to the property boom. The surging demand and pressure on supply has been driving real estate prices here," he adds.
As mentioned earlier the state capital has attracted developers from all over the country. Apart from Parsvnath and GTM Builders, other prominent developers operating in the region are Emaar-MGF, which has signed an agreement with the Uttarakhand government to soon build and run a five-star hotel and a convention centre in Dehradun. The Rs. 2 billion (US$49 million) new hotel and convention centre will be part of an integrated facility comprising a 10-acre retail and entertainment space. Then there is Prabhatam Buildwell, which is also planning mega township projects in cities like Bangalore, Kochi, Indore, Bhopal, Ranchi and Dhanbad apart from a project slated in Dehradun as well.
Because Dehradun is on the tourist map the Mussoorie Dehradun Development Authority (MDDA) is cashing in on the fact and developing a 28 acre tourist centre on the Rajpur Road costing Rs. 10 crore.
MDDA's Rs. 624 crore plan to develop Greater Doon on the Saharanpur-Haridwar bypass is also aimed at promoting tourism. A five-star hotel, a mall and recreational facilities will be the highlight here. Dehradun's Windlass Group and the Jaypee Group are also working out plans to develop fivestar hotels in the region.
Surely a case where tourism is in turn triggering a commercial and residential real estate boom.
Courtesy: ET, dtd: 27th Oct. 2007
With the wellknown hill station Mussoorie, a mere one-hour drive away, Dehradun has always been known for both its scenic beauty, location and the various institutes and schools based in and around the area. Capitalising on these assets, builders with a national presence are now exploring their options and setting up projects in commercial as well as residential segments.
Premier educational institutes like the Doon School, Welhams, the Indian Military Academy, Lal Bahadur Shastri National Academy of Administration, the Forest Research Institute, HNB Garhwal University, IIP and Doon University dot the cityscape. Enlarging this knowledge tank further, the state government is now developing Dehradun into an IT and BPO destination by providing a host of incentives to new industries like 100 per cent exemption on central excise for 10 years and on income tax for the first five years.
Says Pradeep Jain, Chairman, Parsvnath Developers whose company has recently received the final notification from the Central Government for the setting up of an IT/ITES, SEZ on Sahastra Dhara Road in the city "After being made the state capital, Dehradun has taken rapid strides towards industrialisation and urbanisation. It's an upcoming destination with a lot of potential and that too with an upside real estate market."
Avers Neeraj Aggrawal, CEO, GTM Builders and Promoters, slated to be coming up with the biggest approved group housing project in the hill station, GTM Forest & Health on NH-72, "Dehradun is the capital of the new-born state of Uttarakhand and thus has immense scope for development. With so many industries coming up because of the tax benefits offered by the state, the city is surely going to become a popular IT hub on the lines of Pune."
Spearheading the development in the township is the State Industrial Development Corporation of Uttaranchal Limited (SIDCUL) - a body that plays a pivotal role. SIDCUL is developing a Rs. 12 crore Pharma City in Sela Qui on Chakrata Road across more than 50 acres. In addition to this, it is setting up a 65-acre state-of-the-art Software Technology Park with intelligent buildings and a hitech habitat centre. An STPI earth station will also be established in the region.
The growth is in the right direction as can be gauged from what Jain points out, “A good number of IT/ITES professional working in the NCR region belong to this state."
Dehradun's realty market is also doing well. Remarks Sunirmol Dubey, a leading property consultant in the city, "Dehradun today has become a seller's market growing at a very healthy pace. Within two years, property here has appreciated over three times. There is a boom in commercial property as well. Every three years, there is a 15-20 per cent increase in rentals and rented property fetches 7.5 per cent returns per annum." Dubey feels that the main reasons for the rapid development are good climate and adequate infrastructure. "Several inherent advantages of Dehradun including a good climate, low crime rate, good infrastructure like power and water, prominent educational centres have also contributed to the property boom. The surging demand and pressure on supply has been driving real estate prices here," he adds.
As mentioned earlier the state capital has attracted developers from all over the country. Apart from Parsvnath and GTM Builders, other prominent developers operating in the region are Emaar-MGF, which has signed an agreement with the Uttarakhand government to soon build and run a five-star hotel and a convention centre in Dehradun. The Rs. 2 billion (US$49 million) new hotel and convention centre will be part of an integrated facility comprising a 10-acre retail and entertainment space. Then there is Prabhatam Buildwell, which is also planning mega township projects in cities like Bangalore, Kochi, Indore, Bhopal, Ranchi and Dhanbad apart from a project slated in Dehradun as well.
Because Dehradun is on the tourist map the Mussoorie Dehradun Development Authority (MDDA) is cashing in on the fact and developing a 28 acre tourist centre on the Rajpur Road costing Rs. 10 crore.
MDDA's Rs. 624 crore plan to develop Greater Doon on the Saharanpur-Haridwar bypass is also aimed at promoting tourism. A five-star hotel, a mall and recreational facilities will be the highlight here. Dehradun's Windlass Group and the Jaypee Group are also working out plans to develop fivestar hotels in the region.
Surely a case where tourism is in turn triggering a commercial and residential real estate boom.
Courtesy: ET, dtd: 27th Oct. 2007
AD SPEND TO GROW
RETAILERS IN THE COUNTRY ARE SPENDING HEAVILY ON ADVERTISING
With a booming Indian retail sector, organised retailers are doing everything to attract as many footfalls as possible by advertising heavily in every form of media. According to data collected by AdEx India, advertising by retail industry reported a 12 per cent increase on television during January-May 2007 compared to the same period last year.
As many as 255 new advertisers from the retail sector made their debut on TV advertising during this period, the AdEx study said, but added that contribution by the sector to the overall ad industry remained at 1 per cent.
Retailers are not only expanding their physical presence, but are also increasingly making their presence felt on television airtime through advertisements.
The top five retailers, who accounted for 33 per cent of ads in January-May 2007, include Subiksha, Saravana Stores, Pantaloons Retail India, Kala Zone Silk Mills and Jayachandran Textiles and Gold.
The period from JanuaryMay 2007 saw nearly 700 ads by retailers per day out of 45,000 telecast on television per day during the said period. Nearly half the advertising volumes were accounted for by general entertainment channels (GECs). Apart from GECs and news channels, independent retailers also advertised on music channels.
Interestingly, south India based channels benefited more from the loosening of purse string by retailers with almost 60 per cent of big retailers preferring them, whereas east zone channels accounted for the maximum advertising volumes by small players.
Amongst the new entrants, the top three slots were secured by Home Town (a home solutions store chain of the Future Group) followed by Great Eastern Technocity (an electronic departmental store by Great Eastern Appliances) and The Mobile Store (a mobile retail outlet by Essar Telecom Retail). Seasonality played a role in advertising trends on TV during 2006 with October being the month in which retailers spent heavily on advertisements.
Courtesy: ET, dtd: 27th Oct. 2007
With a booming Indian retail sector, organised retailers are doing everything to attract as many footfalls as possible by advertising heavily in every form of media. According to data collected by AdEx India, advertising by retail industry reported a 12 per cent increase on television during January-May 2007 compared to the same period last year.
As many as 255 new advertisers from the retail sector made their debut on TV advertising during this period, the AdEx study said, but added that contribution by the sector to the overall ad industry remained at 1 per cent.
Retailers are not only expanding their physical presence, but are also increasingly making their presence felt on television airtime through advertisements.
The top five retailers, who accounted for 33 per cent of ads in January-May 2007, include Subiksha, Saravana Stores, Pantaloons Retail India, Kala Zone Silk Mills and Jayachandran Textiles and Gold.
The period from JanuaryMay 2007 saw nearly 700 ads by retailers per day out of 45,000 telecast on television per day during the said period. Nearly half the advertising volumes were accounted for by general entertainment channels (GECs). Apart from GECs and news channels, independent retailers also advertised on music channels.
Interestingly, south India based channels benefited more from the loosening of purse string by retailers with almost 60 per cent of big retailers preferring them, whereas east zone channels accounted for the maximum advertising volumes by small players.
Amongst the new entrants, the top three slots were secured by Home Town (a home solutions store chain of the Future Group) followed by Great Eastern Technocity (an electronic departmental store by Great Eastern Appliances) and The Mobile Store (a mobile retail outlet by Essar Telecom Retail). Seasonality played a role in advertising trends on TV during 2006 with October being the month in which retailers spent heavily on advertisements.
Courtesy: ET, dtd: 27th Oct. 2007
HOMEAGAIN - SURGE IN HOUSING DEMAND FROM RETURNING NRIS
THE BOOMING REAL ESTATE MARKET AND THE GROWING ECONOMY IS DRIVING NRIS TO LOOK BACK HOME FOR AN EVENTUAL ABODE. DEMAND FOR BANGALORE TOPS THE LIST OF PREFERENCES FOR HOUSING FOLLOWED BY CHENNAI, HYDERABAD, PUNE, MUMBAI, DELHI, GOA AND OTHER CITIES
There has been a perceptible shift in trends towards investment in residential property by expatriate Indians in the US. The booming Indian economy increase in disposable incomes and rise in salary levels on par with MNCs are driving the techies to seriously look at investment back home for an eventual return either now or in the near future. This is one reason why there has been a sudden spurt in demand for residential property in select Indian cities.
Yet another reason is the expansion of MNCs and corporates across Indian cities. This provides a rare opportunity for those keen to return especially when the request comes from parent companies with lucrative offers. Coupled with dwindling employment opportunities and soaring costs, returning NRIs are keen to invest in residential property for eventual returns either now or in the near future. All this has generated a large demand for housing.
A survey undertaken during the two-day India property show in the US at each location - Edison, New Jersey Dallas and Sunnyvale, California organised by the Chennai-based Priya Publications, reveals that the demand for the south Indian city of Bangalore tops the list of preferences for housing followed by Chennai, Hyderabad, Pune, Mumbai, Delhi, Goa and other cities. The increase in migration from states like Kerala has also supplemented the demand for housing in cities like Kochi.
The preference is for apartments in the price range of Rs. 35 lakh to Rs. 60 lakh. Demand exists for luxury apartments, villas, penthouses and developed plots. Those who have already invested are keen to commit more for additional homes especially with the development of integrated townships and housing built to international standards in Indian cities now. A majority of NRIs are keen to seek home loans for a repayment period of 10-15 years. With the repatriation facility now available for rental income as well, NRIs are keen to avail of this opportunity. The repatriation facility is available for up to two residential units after a lock-in period of three years.
Foreigners of non-Indian origin are evincing keen interest in investing in places like Goa. They are allowed to invest in one residential property with prior permission of the RBI by submitting the required information in the IPI form.
On the flip side is the lack of property management companies which is a major deterrent for large scale NRI investment. Unlike in the West and European countries, the concept of property management is yet to make a dent in India. There are similar services available but they are mostly confined to corporates and offered by international property consultants. On a retail level, such services are yet to gain momentum due to inadequate government support and fiscal sops.
Liberalized FEMA regulations like the repatriation of inherited/gifted property in NRO accounts and annual limits up to US$1 million have enthused NRIs/PIOs to increasingly look at reinvestment avenues within India rather than remitting sale proceeds overseas.
A number of NRIs are also looking at holiday homes in India. To this end, property developers are devising schemes with multiple investment options - so that NRIs can stay as well as earn lucrative rental incomes for the other days of the year.
A few investors are keen to plunge into commercial property investment preferably for leased properties. Fund managers and high net-worth-individuals (HNIs) are keen to commit money at the project level and expect an Internal Rate of Return (IRR) in the range of 20 per cent and above. They are also keen to commit to infrastructure development projects in select cities. Lack of information and data are major deterrents for large scale investment. Perhaps interactive seminars and sessions to apprise these individuals on the current development would boost the confidence level of investors especially at a time when foreign investors are keen to plunge into investment in various ¦ Indian cities.
Courtesy: ET, dtd: 27th Oct. 2007
There has been a perceptible shift in trends towards investment in residential property by expatriate Indians in the US. The booming Indian economy increase in disposable incomes and rise in salary levels on par with MNCs are driving the techies to seriously look at investment back home for an eventual return either now or in the near future. This is one reason why there has been a sudden spurt in demand for residential property in select Indian cities.
Yet another reason is the expansion of MNCs and corporates across Indian cities. This provides a rare opportunity for those keen to return especially when the request comes from parent companies with lucrative offers. Coupled with dwindling employment opportunities and soaring costs, returning NRIs are keen to invest in residential property for eventual returns either now or in the near future. All this has generated a large demand for housing.
A survey undertaken during the two-day India property show in the US at each location - Edison, New Jersey Dallas and Sunnyvale, California organised by the Chennai-based Priya Publications, reveals that the demand for the south Indian city of Bangalore tops the list of preferences for housing followed by Chennai, Hyderabad, Pune, Mumbai, Delhi, Goa and other cities. The increase in migration from states like Kerala has also supplemented the demand for housing in cities like Kochi.
The preference is for apartments in the price range of Rs. 35 lakh to Rs. 60 lakh. Demand exists for luxury apartments, villas, penthouses and developed plots. Those who have already invested are keen to commit more for additional homes especially with the development of integrated townships and housing built to international standards in Indian cities now. A majority of NRIs are keen to seek home loans for a repayment period of 10-15 years. With the repatriation facility now available for rental income as well, NRIs are keen to avail of this opportunity. The repatriation facility is available for up to two residential units after a lock-in period of three years.
Foreigners of non-Indian origin are evincing keen interest in investing in places like Goa. They are allowed to invest in one residential property with prior permission of the RBI by submitting the required information in the IPI form.
On the flip side is the lack of property management companies which is a major deterrent for large scale NRI investment. Unlike in the West and European countries, the concept of property management is yet to make a dent in India. There are similar services available but they are mostly confined to corporates and offered by international property consultants. On a retail level, such services are yet to gain momentum due to inadequate government support and fiscal sops.
Liberalized FEMA regulations like the repatriation of inherited/gifted property in NRO accounts and annual limits up to US$1 million have enthused NRIs/PIOs to increasingly look at reinvestment avenues within India rather than remitting sale proceeds overseas.
A number of NRIs are also looking at holiday homes in India. To this end, property developers are devising schemes with multiple investment options - so that NRIs can stay as well as earn lucrative rental incomes for the other days of the year.
A few investors are keen to plunge into commercial property investment preferably for leased properties. Fund managers and high net-worth-individuals (HNIs) are keen to commit money at the project level and expect an Internal Rate of Return (IRR) in the range of 20 per cent and above. They are also keen to commit to infrastructure development projects in select cities. Lack of information and data are major deterrents for large scale investment. Perhaps interactive seminars and sessions to apprise these individuals on the current development would boost the confidence level of investors especially at a time when foreign investors are keen to plunge into investment in various ¦ Indian cities.
Courtesy: ET, dtd: 27th Oct. 2007
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