Reality check on property

[SKD]

The Q1 and Q2 of year 2011 has not been very good for the real estate sector in India, particularly in the northern geography. NOIDA Extension has been at the centre stage of controversy and debate. Land, the crucial input for real estate development has come to occupy the prime focus of public policy. Housing is slated to become more and more expensive in light of the recommendations that have come to shape the new urban land acquisition and rehabilitation legislation. In fact, this legislation is applicable to the entire nation. Add to this, the housing finance interest rate regime has also not been very encouraging, with home loan interest rates having been increased several times in the last few months. On the whole, the scenario has been rather gloomy. With the ongoing festivities, one can expect some respite. The question is to what extent can developers offer discounts. Projects, which have already been delayed, have gone way off the mark in terms of calculations on many counts. Whilst there may not be many new launches, the feeling that one gets is that this festive season, there would not really be a great upsurge.

The great Indian dream of affordable housing appears to have gone sour. With the scales completely being tilted in favour of the farmer / agricultural landlord, land is going to become very expensive with time to come. An alternative is that land be given free of cost to developers, by the government, to put up affordable housing. This is not likely to happen given the state of finances of state governments. Therefore, what one can expect is incentive FSI so that housing can become cheaper.

Happy Diwali!

[SKD]

New projects to upgrade Faridabad’s commercial sector


Delhi NCR

Faridabad is rapidly shedding off its traditional image of being an industrial hub and is emerging as a commercial destination. With a large number of business and IT Parks coming up in the city, the commercial scenario is expected to revamp soon.

According to Ankit Gaur of Gaur Properties, says, “The commercial sector has already noted an average escalation of 8-10 per cent in past six months and is still appreciating.”

“The demand for commercial space in the city has already increased by nearly 40 per cent during past one year and is expected to rise further with increasing occupancy level”. The occupancy level in the commercial sector noted a 10-15 per cent rise in past 4-6 months, he added.

Faridabad-Mathura Road is one of the key emerging commercial destinations. “Prominent developers such as Piyush Group, BPTP, SRS Group are showcasing their new project on the Faridabad-Mathura stretch which is emerging as a commercial centre of the city”, added Virender Kumar, chief property consultant at V3S Group. Few companies such as Aditya Infotech, Intra Technology, Blue Chip, Belamrk, Yamaha Motors etc has already been operational along the Mathura Road while there are many others in pipeline, sums up Kumar.

The commercial office space at Faridabad-Mathura Road is available in the price range of Rs 5,500- Rs 11,000 per sq ft and will be having facilities akin to global standards. . Few of the upcoming commercial projects in the city are Piyush Global I and RPS Oxypark at NH-2, Vatika Mindspaces and Piyush IT Park at Mathura Road. The upcoming projects are being built according to international standards with state of the art facilities such as well equipped health club, spa, air conditioned food court, well planned breakout areas, corporate retail outlets, speciality restaurants etc.

A diverse range of commercial property will soon be available in the city, creating opportunities for business as well for long term investments. “There are many big IT/ITeS companies planning to set up their base here soon owing to affordable capital and operational values as compared to Noida and Gurgaon,” confirmed Gaur.

The proposed metro link and prevailing affordable values in comparison to other NCR cities are the key economic drivers fuelling the realty sector. The under-construction infrastructure projects aimed to improve the roads, transport and basic facilities in the city will also boost the commercial property market positively.

[cujatin]

its nice to live in a Dream World !

Jatin

[mikesab]

its nice to live in a Dream World !

Jatin

Only the one who sees dreams can fulfill them!!