DEVELOPERS OFTEN THROW IN SOME ADDITIONAL BENEFITS TO ENCOURAGE PEOPLE TO BUY PROPERTY AT A PARTICULAR STAGE
There are a lot of offers that are made by developers to the investors or to those who want to buy some property. These are usually seen during festive times and hence it becomes very important to understand the nature of the benefit and whether they actually want to make use of the situation. There are various ways in which this situation can be achieved.
Interest discount
One of the best ways in which a property will be sold is by giving a discount to the buyer in terms of the interest that they will pay on the loan that they have taken for buying the property Most individuals take a loan for the purchase of a property and they will be made an offer whereby the rate of interest on the loan is reduced for a specific time period so that the individual is able to pay a lower amount when it comes to the loan repayment figure. This is expected to encourage people to go in for buying at this current stage.
Less cost
There can be some additional benefits that the developer will throw in so that a person is encouraged to buy the property at this particular stage. The benefits can be extremely varied and would range from the availability of several additional services for the individual to enjoy in their new house to the fact that they might even get far more than what they would have normally received by paying the amount that they are actually doing. This can be reduced charges for parking or it can be additional services in the house. These benefits would vary from developer to developer and the individual will have to make a correct evaluation of the offer that is made to them.
Freebies
There are often several freebies that are thrown in when a developer would like to increase sales and this can include free membership at some local club or some other benefit. Some developers might provide several types of furniture in the house or there might be some add-ons for the individual without him having to pay more. There are several variants that can be adopted when freebies are thrown in and the individual will have to be alert about the kind of benefits he is receiving and whether these are actually worth going in for.
Discounts
The last thing that developers often offer is discount in the price of the property. This is used as a last resort and creates a situation that is in favor of the buyer. It gives the buyer a good value for money by brining down the cost. In most cases the discount is available for a few days within which the prospective buyer has to take a decision.
FACING REALTY
There are a lot of offers in the festive season
One common offer is for a reduced rate of interest
There are also some cost reductions for buyers
Free gifts are also thrown in to sweeten the deal
The last resort is discounts in the actual rate sales
Courtesy: HT dtd:- 4th Feb 2008
Friday, February 8, 2008
Friday, January 18, 2008
Indian Real Estate Scenario
2008 is going to be a successful year for Indian Real Estate Industry. According to industry body Assocham the Real Estate sector saw a 30-35 per cent 2007 growth in retail and 40-45 per cent in real estate sectors respectively. Predictions are that the boom will continue even in 2008.
The following figures were revealed in a report issued by Assocham. Organised and unorganised retail sizes in 2007 has been estimated at US$300 billion which is likely to grow to US$365 billion in 2008 and will further reach the size of US$440 billion by 2010. “Out of (India´s) retail industry, worth over US$300 billion, the organised retail segment is less than 5 per cent which works out to be slightly more than US$16 billion,” said Assocham President Venugopal Dhoot.
Also to be noticed are the growth rate fugures of 2007, in the year, the retail sector ended up with a growth of 25-28 per cent whereas the real estate industry saw a growth of 35-38 per cent, according to report. As predicted by Assocham, the organised retail segment should witness an additional investment of US$25-28 billion by 2008 and in 2010 the investment size would be around US$70 billion.
Organised retailers occupied a space of one million sq ft in 2002, which shot up to nearly 14 million sq ft in 2007. “In 2008, the space occupation in the organised retail sector is likely to be 16 million sq ft as retailers like Reliance, Plaza, DLF and even Aditya Birla Group will witness their major expansion drives in the retail sector,” said Mr Dhoot.
With respect to the real estate sector, the market-size is estimated at US$15 billion which has been growing at a pace of 35-38 per cent in the last couple of years and is likely to touch US$90 billion by 2015. As a result, huge investments are coming into the sector.
The following figures were revealed in a report issued by Assocham. Organised and unorganised retail sizes in 2007 has been estimated at US$300 billion which is likely to grow to US$365 billion in 2008 and will further reach the size of US$440 billion by 2010. “Out of (India´s) retail industry, worth over US$300 billion, the organised retail segment is less than 5 per cent which works out to be slightly more than US$16 billion,” said Assocham President Venugopal Dhoot.
Also to be noticed are the growth rate fugures of 2007, in the year, the retail sector ended up with a growth of 25-28 per cent whereas the real estate industry saw a growth of 35-38 per cent, according to report. As predicted by Assocham, the organised retail segment should witness an additional investment of US$25-28 billion by 2008 and in 2010 the investment size would be around US$70 billion.
Organised retailers occupied a space of one million sq ft in 2002, which shot up to nearly 14 million sq ft in 2007. “In 2008, the space occupation in the organised retail sector is likely to be 16 million sq ft as retailers like Reliance, Plaza, DLF and even Aditya Birla Group will witness their major expansion drives in the retail sector,” said Mr Dhoot.
With respect to the real estate sector, the market-size is estimated at US$15 billion which has been growing at a pace of 35-38 per cent in the last couple of years and is likely to touch US$90 billion by 2015. As a result, huge investments are coming into the sector.
SKY- ROCKETING- INDIAN REAL ESTATE
The year 2007 has been a record- breaking year for the Indian Real Estate Industry. The entire year witnessed immense boom in the sector overcoming all the predictions of possible realty doom.
Some of the stupendous real estate deals of the year included the sale of a 7,107 sq metre plot at the Bandra Kurla Complex belonging to the Mumbai Metropolitan Region Development Authority (MMRDA) for an astounding Rs 5.04 lakh per sqm, the highest bid for land anywhere in the country.
Also an apartment at Nariman Point attracting a Rs 97,842 per sq ft bid from a UK-based NRI proved to be an all-time high of sorts, besides reinforcing the popular sentiment that Mumbai holds the beacon on the real estate front.
The 9,178-acre township project ‘New Bangalore City’ at Bidadi, which realty major DLF bagged in consortium with the Dubai-based Limitless, turned out to be the highest and the single largest realty investment in the country so far. The project is expected to generate over Rs 50,000-crore value.
Not to forget the he realty score in the capital market. The market was on a high with the initial public offering of DLF raking in a record Rs 9,625 crore. A stunning number of township projects (totalling 210) were announced during the year, though some analysts say acreage was given the go by in the estimation.
IT sector was one of the major grosser with large volumes generated in IT office space. The residential segment too was closely IT-driven and reported robust growth. Non-IT commercial space too kept pace, more in line with the overall economic growth.
The year also saw a rising demand for quality manpower, and the salaries of civil engineers soared as also the need for their services.
Developers were on a roll, announcing plans to build in the next few years what they had been planning to build since their inception
Some of the stupendous real estate deals of the year included the sale of a 7,107 sq metre plot at the Bandra Kurla Complex belonging to the Mumbai Metropolitan Region Development Authority (MMRDA) for an astounding Rs 5.04 lakh per sqm, the highest bid for land anywhere in the country.
Also an apartment at Nariman Point attracting a Rs 97,842 per sq ft bid from a UK-based NRI proved to be an all-time high of sorts, besides reinforcing the popular sentiment that Mumbai holds the beacon on the real estate front.
The 9,178-acre township project ‘New Bangalore City’ at Bidadi, which realty major DLF bagged in consortium with the Dubai-based Limitless, turned out to be the highest and the single largest realty investment in the country so far. The project is expected to generate over Rs 50,000-crore value.
Not to forget the he realty score in the capital market. The market was on a high with the initial public offering of DLF raking in a record Rs 9,625 crore. A stunning number of township projects (totalling 210) were announced during the year, though some analysts say acreage was given the go by in the estimation.
IT sector was one of the major grosser with large volumes generated in IT office space. The residential segment too was closely IT-driven and reported robust growth. Non-IT commercial space too kept pace, more in line with the overall economic growth.
The year also saw a rising demand for quality manpower, and the salaries of civil engineers soared as also the need for their services.
Developers were on a roll, announcing plans to build in the next few years what they had been planning to build since their inception
LIC TO CONSOLIDATE REAL ESTATE PORTFOLIO
Life Insurance Corporation of India (LIC), the largest insurance firm of the country revealed its plans to consolidate its real estate portfolio across the country. In an advertisement the company said that Expression of interest is being invited from professional consultancy organizations for consolidating our real estate portfolio.
The consultancy involves feasibility study, including techno-economic viability assessment of expected growth potential, and investment opportunities in sectors such as commercial, housing and retail for fresh acquisition, it said.
LIC is also planning to develop existing vacant plots and redevelop old properties besides making fresh acquisitions of land. The Insurance Firm is interested in acquiring properties in tier I and tier II cities for own use and for investment purposes. For development of unencumbered plots at places such as Kolkata, Jaipur, Chennai, Kanpur and Ahmedabad, some new locations might be added in future, the advertisement said. LIC had ventured into real estate business in 2005, in a bid to get more returns from its properties.
The last date for submission of bids is 25 January. LIC, which was formed in 1956 with the Union government contributing the capital, had valuation surplus of Rs15,127 crore for the year ended 2006-07. The state-run insurer has more than 2,040 branches and offices in Fiji, Mauritius and the UK.
The consultancy involves feasibility study, including techno-economic viability assessment of expected growth potential, and investment opportunities in sectors such as commercial, housing and retail for fresh acquisition, it said.
LIC is also planning to develop existing vacant plots and redevelop old properties besides making fresh acquisitions of land. The Insurance Firm is interested in acquiring properties in tier I and tier II cities for own use and for investment purposes. For development of unencumbered plots at places such as Kolkata, Jaipur, Chennai, Kanpur and Ahmedabad, some new locations might be added in future, the advertisement said. LIC had ventured into real estate business in 2005, in a bid to get more returns from its properties.
The last date for submission of bids is 25 January. LIC, which was formed in 1956 with the Union government contributing the capital, had valuation surplus of Rs15,127 crore for the year ended 2006-07. The state-run insurer has more than 2,040 branches and offices in Fiji, Mauritius and the UK.
Wednesday, January 9, 2008
The US based realty major, Trump
The US based realty major, Trump, is planning to invest in the Indian property market in the next 18 months. Mumbai and Delhi could soon witness Trump Tower on the lines of Trump Organization’s high-rise buildings in Manhattan.
Donald Trump Jr, executive vice-president, development and acquisitions, Trump said that the company’s chief focus will be on high-end projects in Mumbai, Delhi, Hyderabad, Bangalore, and resorts and villas in Goa.
For now Trump is managing several marquee hotels, resorts, casinos and building complexes in New York, including the Trump Casino, Trump International Hotel, Trump Marina Hotel and Casino, Trump Taj Mahal Casino Resort and Trump Tower.
Recently, the company entered the Dubai property market with the Palm Trump International Hotel and Tower through a local joint venture. Trump is also planning joint ventures or licensing agreements with local developers.
Trump believes that although property prices in India have spiral, they are not as high as global realty prices. Trump believes that the emergence of nuclear families and demand for real estate can drive the growth for high-end developers.
Like the US, India is becoming increasingly urbanised, where more youth are moving into cities which is one of the prime reason that investors and developers like Trump are entering into the booming Indian property market.
Donald Trump Jr, executive vice-president, development and acquisitions, Trump said that the company’s chief focus will be on high-end projects in Mumbai, Delhi, Hyderabad, Bangalore, and resorts and villas in Goa.
For now Trump is managing several marquee hotels, resorts, casinos and building complexes in New York, including the Trump Casino, Trump International Hotel, Trump Marina Hotel and Casino, Trump Taj Mahal Casino Resort and Trump Tower.
Recently, the company entered the Dubai property market with the Palm Trump International Hotel and Tower through a local joint venture. Trump is also planning joint ventures or licensing agreements with local developers.
Trump believes that although property prices in India have spiral, they are not as high as global realty prices. Trump believes that the emergence of nuclear families and demand for real estate can drive the growth for high-end developers.
Like the US, India is becoming increasingly urbanised, where more youth are moving into cities which is one of the prime reason that investors and developers like Trump are entering into the booming Indian property market.
Parsvnath’s IT park in Gurgaon
Realty major Parsvnath Developers on Wednesday said it has bagged an order to develop an IT park in Gurgaon, that is expected to generate Rs 650 crore within two financial years.
Parsvnath Developers has received a letter of intent from Haryana to develop an ITpark project in Gurgaon and the approximate realisation from the project is expected to be Rs 650 crore within 2 financial years, the company informed the Bombay Stock Exchange.
The Gurgaon project, spread over an area of 6.8 acre, is expected to begin within three months and would be completed within next 24 months.
Parsvnath Developers has received a letter of intent from Haryana to develop an ITpark project in Gurgaon and the approximate realisation from the project is expected to be Rs 650 crore within 2 financial years, the company informed the Bombay Stock Exchange.
The Gurgaon project, spread over an area of 6.8 acre, is expected to begin within three months and would be completed within next 24 months.
2008-Predicted to be a Golden Year for Indian Real Estate
2008 is going to be a successful year for Indian Real Estate Industry. According to industry body Assocham the Real Estate sector saw a 30-35 per cent 2007 growth in retail and 40-45 per cent in real estate sectors respectively. Predictions are that the boom will continue even in 2008.
The following figures were revealed in a report issued by Assocham. Organised and unorganised retail sizes in 2007 has been estimated at US$300 billion which is likely to grow to US$365 billion in 2008 and will further reach the size of US$440 billion by 2010. “Out of (India’s) retail industry, worth over US$300 billion, the organised retail segment is less than 5 per cent which works out to be slightly more than US$16 billion,” said Assocham President Venugopal Dhoot.
Also to be noticed are the growth rate fugures of 2007, in the year, the retail sector ended up with a growth of 25-28 per cent whereas the real estate industry saw a growth of 35-38 per cent, according to report. As predicted by Assocham, the organised retail segment should witness an additional investment of US$25-28 billion by 2008 and in 2010 the investment size would be around US$70 billion.
Organised retailers occupied a space of one million sq ft in 2002, which shot up to nearly 14 million sq ft in 2007. “In 2008, the space occupation in the organised retail sector is likely to be 16 million sq ft as retailers like Reliance, Plaza, DLF and even Aditya Birla Group will witness their major expansion drives in the retail sector,” said Mr Dhoot.
With respect to the real estate sector, the market-size is estimated at US$15 billion which has been growing at a pace of 35-38 per cent in the last couple of years and is likely to touch US$90 billion by 2015. As a result, huge investments are coming into the sector.
The following figures were revealed in a report issued by Assocham. Organised and unorganised retail sizes in 2007 has been estimated at US$300 billion which is likely to grow to US$365 billion in 2008 and will further reach the size of US$440 billion by 2010. “Out of (India’s) retail industry, worth over US$300 billion, the organised retail segment is less than 5 per cent which works out to be slightly more than US$16 billion,” said Assocham President Venugopal Dhoot.
Also to be noticed are the growth rate fugures of 2007, in the year, the retail sector ended up with a growth of 25-28 per cent whereas the real estate industry saw a growth of 35-38 per cent, according to report. As predicted by Assocham, the organised retail segment should witness an additional investment of US$25-28 billion by 2008 and in 2010 the investment size would be around US$70 billion.
Organised retailers occupied a space of one million sq ft in 2002, which shot up to nearly 14 million sq ft in 2007. “In 2008, the space occupation in the organised retail sector is likely to be 16 million sq ft as retailers like Reliance, Plaza, DLF and even Aditya Birla Group will witness their major expansion drives in the retail sector,” said Mr Dhoot.
With respect to the real estate sector, the market-size is estimated at US$15 billion which has been growing at a pace of 35-38 per cent in the last couple of years and is likely to touch US$90 billion by 2015. As a result, huge investments are coming into the sector.
Monday, December 10, 2007
Real estate development in Gurgaon.
The much awaited Gurgaon Master Plan 2021 is bringing high hopes for residents of the fast flourishing cyber city, Gurgaon. It paves the way for 14,930 hectares land for residential and 1,404 hectares of land for commercial development. This will undoubtedly be a step forward in the direction of real estate development in Gurgaon. Moreover, the new supply could be good news for the middle class as the prices of apartments are expected to slip down to 2,000 – 2,500 per sq ft. whereas they were earlier available for no less than Rs 2,700 per sq ft, says sources. Property rates in some newly developed sectors of Gurgaon will be at least 30-40% lower than in existing sectors.
So far, property developers were only concentrating their attention on high end housing. With availability of more land, they can focus on middle and lower segments as well. India’s shabby infrastructure is believed to be a major roadblock to woo potential foreign investors. Containing provisions for all, the New Gurgaon Master Plan will also help infrastructure to develop fast in most new sectors. It may take long time before the first project is on the track but demand is likely to shoot up. For that reason, it is difficult to estimate how prices will fall in sectors.
A number of locations have witnessed a correction in their secondary market prices in real estate Gurgaon.Property rates in Gurgaon-Sohna road have undergone a marked price correction of about 10% in the last six months. General buyers are eyeing the rates to come down further as the supply graph in Gurgaon real estate (residential & commercial) is going up in the newly demarcated sectors and as investors exit closer to the date of delivery of projects.
Property developers who have “land banks” are considered to emerge as major key players, and could be expected to launch projects within the next two to three months. The list includes the big names like DLF, Unitech, Pioneer Urban Land & Infrastructure, Vatika, Raheja, Vipul, and Emaar-MGF.
Adding to the Gurgaon real estate boom comes the new Gurgaon-Manesar Urban complex Plan 2021. It is known to be unique master plan for the region as it envisages keeping population density in the newly covered areas lower than in the old. The aim is to add to the green belt area, increase the residential units and commercial spaces in Gurgaon real estate, and bringing improvements in connectivity with neighboring Delhi.
So far, property developers were only concentrating their attention on high end housing. With availability of more land, they can focus on middle and lower segments as well. India’s shabby infrastructure is believed to be a major roadblock to woo potential foreign investors. Containing provisions for all, the New Gurgaon Master Plan will also help infrastructure to develop fast in most new sectors. It may take long time before the first project is on the track but demand is likely to shoot up. For that reason, it is difficult to estimate how prices will fall in sectors.
A number of locations have witnessed a correction in their secondary market prices in real estate Gurgaon.Property rates in Gurgaon-Sohna road have undergone a marked price correction of about 10% in the last six months. General buyers are eyeing the rates to come down further as the supply graph in Gurgaon real estate (residential & commercial) is going up in the newly demarcated sectors and as investors exit closer to the date of delivery of projects.
Property developers who have “land banks” are considered to emerge as major key players, and could be expected to launch projects within the next two to three months. The list includes the big names like DLF, Unitech, Pioneer Urban Land & Infrastructure, Vatika, Raheja, Vipul, and Emaar-MGF.
Adding to the Gurgaon real estate boom comes the new Gurgaon-Manesar Urban complex Plan 2021. It is known to be unique master plan for the region as it envisages keeping population density in the newly covered areas lower than in the old. The aim is to add to the green belt area, increase the residential units and commercial spaces in Gurgaon real estate, and bringing improvements in connectivity with neighboring Delhi.
Graph and improve the power scenario
The once sleepy town of Gurgaon in Haryana has witnessed a real estate boom since the late 90's following liberalization of the Indian economy. Gurgaon, like Pune, Chennai, Hyderabad and Bangalore, attracts IT professionals in droves. Their salaries are comparable to the best in the world. The high disposable income in the hands of employees of the booming service sector in Gurgaon has led to tremendous spurt in demand for properties in Gurgaon both for commercial and residential use.
With a space crunch in national capital Delhi, MNCs plump for nearby Gurgaon and many have made it their corporate headquarters in the country, as it is just 10 km from the Indira Gandhi International airport.
Property in Gurgaon values have skyrocketed over the past decade due to this burgeoning demand. As a result, Gurgaon properties have drawn huge investments both from inland and overseas. The influx of funds has transformed this one-time village into a hi-tech city with multistoried malls and skyscrapers dotting the landscape.
The proposed expressway to Jaipur, metro rail connection to Delhi and the special economic zone to be developed by Reliance Industries has made Gurgaon apartments treasured possessions for builders and owners alike with the rush for bookings still on. All these have contributed to increased construction activity in Gurgaon properties.
Property in Gurgaon also attracts high rental values. Many residents of posh South Delhi areas buy apartments in Gurgaon while some have already shifted lock, stock and barrel there to escape Delhi's congestion and pollution. Those who sell apartments in Gurgaon these days get much higher returns than in the case of flats in other areas of the national capital region. So, Gurgaon property owners are set to witness happy times. However, to keep the cash registers ringing, the city authorities will have to do their bit to check the rising crime graph and improve the power scenario
With a space crunch in national capital Delhi, MNCs plump for nearby Gurgaon and many have made it their corporate headquarters in the country, as it is just 10 km from the Indira Gandhi International airport.
Property in Gurgaon values have skyrocketed over the past decade due to this burgeoning demand. As a result, Gurgaon properties have drawn huge investments both from inland and overseas. The influx of funds has transformed this one-time village into a hi-tech city with multistoried malls and skyscrapers dotting the landscape.
The proposed expressway to Jaipur, metro rail connection to Delhi and the special economic zone to be developed by Reliance Industries has made Gurgaon apartments treasured possessions for builders and owners alike with the rush for bookings still on. All these have contributed to increased construction activity in Gurgaon properties.
Property in Gurgaon also attracts high rental values. Many residents of posh South Delhi areas buy apartments in Gurgaon while some have already shifted lock, stock and barrel there to escape Delhi's congestion and pollution. Those who sell apartments in Gurgaon these days get much higher returns than in the case of flats in other areas of the national capital region. So, Gurgaon property owners are set to witness happy times. However, to keep the cash registers ringing, the city authorities will have to do their bit to check the rising crime graph and improve the power scenario
POWER PACKED PALWAL
With world-class expressways coming up and big industries setting up base their in the area, Palwal is all set to witness a massive industrial and residential boom in the times ahead. Here's an overview to the growth patterns
The national capital region might have become the zone of high-power investments but the Tier-II towns have increasingly become the focus areas of the housing sector. Real estate experts point out that a slight decrease in the real estate market in NCR is also due to the fact that investments and development have been scattered beyond NCR. And, Tier-II towns have massively taken away the share of investment from the NCR - the latest being Palwal, in Haryana.
HUDA has also shown keen interest in developing small Haryana towns. Realising the potential of Palwal, it had recently awarded the construction work of the 135 kmlong KMP Expressway around Palwal to D S Constructions, the company which built the Dhaula Kuan-Gurgaon Expressway. This KMP Expressway will touch Manesar, before terminating at Kundli, NH-1 (
Rohtas Goel, CMD-Omaxe, says: "Palwal has a great potential for real estate development. It enjoys its own natural advantages. It is a key Haryana town situated on the strategic
An Industrial Model Town (IMP) is also being developed by the Haryana State Industrial Development Corporation (HSIDC) where industries have started coming up.
Says Sameer Gogia, a local property consultant: "Rapid industrialisation is taking place in Palwal. As a result, there has been a sharp demand for housing here. Local industrialists prefer to stay here. Within the next four years, the area will witness a massive industrial and residential boom. The nearly fivelakh strong town is bound to attract heavy population influx in the times to come."
And most importantly, the Delhi Metro Rail Corporation (DMRC) has cleared the proposal of a metro line to Ballabgarh and land has already been acquired by HUDA for the purpose.
The area will further be beautified with the private mode of development. A world-class integrated township on over 150 acres is currently under construction by real estate major Omaxe, on the Delhi-Agra National Highway-2. The township named 'Omaxe City' will be a complete township within itself, having provisions for hospitals, commercial centres, clubs, nursery-, primary-, middle-, senior-secondary schools and other basic facilities. The real articulation of development is in the construction of a five star hotel by the SRS group on NH-2, about 14 km from Palwal towards
Anil Jindal of SRS Group says: "A lot of domestic and foreign tourists travel on the Delhi-Agra Highway. But, there are no good hotels in between. There was a need to offer a luxury hotel for the tourists." According to Jindal, the nearly 15-acres-hotel site is being developed in three phases. In the first phase, 5 acres is being undertaken and would be completed by 2010 Commonwealth Games.
Local dealers say that with giants like Omaxe stepping into private housing, other developers are likely to follow suit. Already, Piyush and Era have come up in the area.
Courtesy: ET, dtd:
IT AND BPO COMPANIES ABSORB MOST OF THE TOTAL COMMERCIAL OFFICE SPACE
Despite sluggishness in demand for residential property, the commercial office space segment is continuing to spur growth, backed by strong demand for high quality real estate by both Indian and multinational companies.
"As the economy is doing pretty well, almost all companies are vying for good commercial space to expand operations. This is why the demand is pretty high in this segment," said real estate consultant Sunil Bajaj.
According to him there is a good demand for commercial office space property allover the nation. "In Mumbai the office space rentals in the Bandra-Kurla Complex (BKC), Navi Mumbai have gone up by 25 to 30 per cent over last year and the demand is increasing," said Bajaj. In Pune too, the rentals have climbed steadily to Rs 50 to Rs 80 per sq ft.
Consultancy firm Ernst & Young in one of its recent reports on Indian real estate stated that continuing the past trend, the commercial real estate segment witnessed a dominance of IT/ITeS- accounting for nearly 70 to 75 per cent of the total commercial office space absorption.
This is followed by banking, financial services, insurance, pharmaceutical and telecom companies in most cities. "Mumbai witnessed more diversified absorption with Banking, Financial Services, Insurance and Telecom contributing evenly," the report said.
According to this report, the total supply of commercial office space in the National Capital Region, Mumbai,
"Cities like
Due to limited supply in the existing central business districts of cities, rentals in secondary business districts are witnessing high appreciation in rentals and capital value, for example,
According to analysts IT/ITeS companies currently hard pressed with declining earnings due to the steady depreciation of the US dollar are scrambling for low cost office space at suburbs and even at Tire-II cities.
This is why several organised and unorganised players are constructing huge amount of commercial office space for speedy consumption.
But there is a caution for investors. "Indian real estate sector is exposed to global liquidity and interest rate related risks and threat from other emerging markets. The Indian real estate market is hence vulnerable to global risks and any adverse movement could be a dampener to its growth momentum," said the Ernst & Young report.
Courtesy: HT, dtd:
Friday, November 23, 2007
REAL ESTATE IN FARIDABAD
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.
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.
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
Subscribe to:
Posts (Atom)