News - Crossings Republik
A NEW MODEL OF RESIDENTIAL DEVELOPMENT
Posted online: Friday, November 16, 2007 at 1525 hours IST
Thoughtfully named around Green and Roman themes, the two projects at Dundahera are focusing those who want to enjoy the benefits of living in or close to the Alpha to Zeta sectors of Greater Noida. For others, there are more economical options closer to Noida and Delhi itself.
The two integrated townships are coming up next to each other, across a road in Ghaziabad; situated about 15 km from the Delhi border on NH 24. The geographical space is all that they seem to share among themselves. The differences between Aquapolis and Crossings Republic are almost as stark as those between a Roman city under a single emperor and a republic populated with free citizens.
Reaching there
Drive down NH 24 from Delhi. Squeeze past the sales tax barrier and head for ABES Engineering College at Dundahera. It is about 7 km from Indirapuram and about 15 km from the Delhi border. After you reach the engineering college, turn right along the road next to it. Everything on your right is Crossings Republic and on your left is Aquapolis. Separating the two is a huge storm water drain that doubles up as a sewer drain which feeds the sewerage treatment plant situated behind the Crossings Republic. In the future, the NH 24 is expected to become a 6-lane expressway and a road connection would also be completed with Greater Noida. Metro connectivity is also expected.
Vijaynager of Ghaziabad and the Lal Kuan industrial area are across the NH 24 from here.
The plans
Ansal API plans to build Aquapolis as a property with premium specifications. And coupled with their reputation in the market, they demand a decent premium for this area. In terms of launching a project here, Ansal was here first. Aquapolis is spread over more than 120 acres and comprises plots and high-rise apartments. The company also plans to acquire more land in the same project.
Crossing Republic has a more interesting origin. Seven developers who had made hay in Vaishali, Indirapuram, and Vasundhara (against all odds and against expectations of others in the market) got together to form a company and buy land here. They got the plans approved for the entire 306 acres of land, to be developed as a township. They even went ahead and sold about 1,500 apartments. The directors of the company then decided to cut up the remaining township into areas that they would individually develop and sell under the banner of their own companies. They further decided to sell land, with approved plans for residential development, to other private builders.
Crossings therefore presents a new model of residential development where a group of developers get together to do what the local development authority has been doing till now. Including the seven directors of the company, there are about a dozen smaller builders here as well. The plan is that all these guys working in parallel can develop the area faster that a single developer can. The project has no plotted development.
Both Aquapolis and Crossings still have patches of unacquired land. But these areas have been notified as part of the township and what land is being developed by the two is completely in the clear, say officials from both the projects.
Buyer beware
With many small developers being a part of Crossings Republik, and only a few having launched their projects as yet, buyers need to be wary of so-called developers offering flats on ‘pre-launch.’
It is understood that there are some booking offers doing the rounds, with rates as low as Rs 1,700 per sq ft and even a waiver of all extras and PLCs—even though they have no projects lined up at the Crossings Republik.
On the ground
Though Crossings has sold over 1,500 of its apartments Aquapolis has sold out all the plots it had on offer. Beyond that, work is progressing on sewer pipe laying at Aquapolis. At Crossings, the first floors of the towers have been constructed, work on the artificial lake is progressing, and main roads have been laid out though they have not been tarred yet.
Kingdom vs Republik
This area would be an extension of Noida/Greater Noida, but with much cheaper rates. Therefore it is an appealing prospect. But should you buy in a project being built by one of the kings of Indian realty or one being built by a challenger?
Houses at Crossings can be cheaper by as much as Rs 1,000 per sq ft. While Ansal API is a strong brand, the directors of Crossings have also built a reputation. Crossings is a larger development but Ansal plans to acquire more land. But, if you want to go for larger 4-bedroom options, you would have to go to Aquapolis for now.
Your buying decision would also be determined by the ease of buying a house here. While Ansal provides a single point of contact for Aquapolis, Crossings is almost a maze for now. Even though there are just two to three site offices there for now. As more projects get launched here, there would be about 20 developers with their site offices here. The price difference among them is not likely to be significant as they would be implementing the plans made by Crossings.
Plus, you have a much better chance of negotiating with the individual builders than with a large company. Do push for prices, and negotiate on the PLCs that are asked.
The underlying assumption is of course that the quality of construction is good across the builders. But if you have seen some the houses built by the big brands in Vaishali, you would know that a brand does not guarantee quality of construction.
Buying it
The investor class is still lying dormant. The end-user can today therefore be more experimental. There is of course the option of buying a cheaper property if you buy now. But as can be seen in some of the projects in Vaishali, the builders are holding stock in their completed projects and prices there are comparable to those of under-construction projects.
Before one gets to an area that is as far as this from Noida and Delhi, there is still a lot of vacant area in the middle that can be filled up. There are very few local demand drivers here. It will cater to demand emanating from IT companies of Noida, not from the neighbouring Lal Kuan industrial area. The big attraction here is the price which is lower for now. Presumably, it would always remain lower than areas like Delhi or Noida. The end-user should therefore look to buy only ready-to move-in properties.
None of the 20 odd builders are in a position to give that for now, and such options (or those that are nearer to completion) are available closer to Delhi and Noida in Vaishali/Indirapuram.
While the builders are targeting mainly the upcoming IT crowds of Noida and Greater Noida, these would be a perfect second house option for those living in areas of Vijaynager of Ghaziabad, if only the price was right, i.e., there were no PLCs or extra payments. If you can find a way around those, these houses here are an excellent buy, whether you buy the non-premium houses in Crossings or the premium deluxe and super-deluxe houses being offered by Ansal API at Aquapolis.
aloksingh@expressindia.com
Crossings Republik Discussion Forum - Post Your Comments!!!
-------------------------------------------------------------------------------
Glamourising Ghaziabad
7 Sep, 2007, 0729 hrs IST,Akash Vashishtha , TNN
With world-class residential townships, the world's biggest power project, fastest growing commercial centres like Raj Nagar District Center, biggest retail destination, proposal for fourteen new flyovers and Metro Rail connectivity, Ghaziabad is fast emerging as the preferred residential destination in the NCR.
The sixth most dynamic city of the world is all set to prove its worth. With a number of major world-class projects on various fronts coming up, the city is becoming the hottest investment destination in the NCR.
New Flyovers
The GDA has proposed to build fourteen new flyovers, grade separators, underpasses and clover passes at different points of the city.
Work on four of these flyovers is underway. These flyovers are not only expected to ease the traffic congestion in the city in a big way, but also beautify the city, leading to land cost appreciation. The flyovers would be built by the Uttar Pradesh State Bridge Corporation (UPSBC) at an estimated cost of nearly Rs 200 crores.
Besides, work on a six-lane expressway is also underway. The work on the Rs 33.94 crore, 8 km expressway, connecting GT Road with NH-58 bypassing the Ghaziabad city is expected to be completed by December 2008.
The 28-metre-wide signal-free expressway was conceived by the GDA with a view to ease the traffic on the NH-58 and to provide an alternative route to traffic coming from Delhi and heading towards Dehradun and Hapur.
Metro rail MoU soon
The Metro Rail proposal is back on tracks. S K Divedi, vice-chairman , GDA, said, "The Metro project is likely to be cleared by the state government soon. An MoU would be signed with the DMRC within a month.
Under the proposed Phase-II of the Metro Rail, the Rajiv Chowk-Anand Vihar link has been extended from Anand Vihar to Vaishali. It will pass through Kaushambi before reaching Vaishali. Two stations for the Metro Rail have also been finalised - one at Kaushambi and another at Vaishali.
The total length of this line is 2.05 km and would be built on an elevated track. The project is estimated to cost Rs 167 crores and is expected to be completed by September 2010 enabling the residents of the area to reach Rajiv Chowk in 22 minutes.
Biggest power project
Work on the much awaited world's largest gas-based power generation project of the Reliance Power Ltd at the proposed Dhirubhai Ambani Energy City, Dadri has already commenced. The work of constructing the 24 km boundary wall and levelling of land, costing Rs 18 crores, has been awarded to the city-based construction firms and is expected to be complete by the end of this year.
The actual work on the project is likely to commence by the end of this year. The 5600 MW Combined Cycle Power Plant at Dadri, once completed and commissioned, would address the power problems of northern region in a big way. Power from the project would be mainly supplied to UP, Delhi, Haryana, Punjab and Rajasthan. The first phase of the gas-based power project comprising 1400 MW is likely to be operational by mid 2010.
Integrated and Hi-Tech townships
An integrated township - Crossings Republik is being developed on NH-24 by Crossing Infrastructure, a consortium of seven promoters, including Gaursons India, Assotech, Supertech Constructions and Mahagun.
Another major township that would alter the landscape of the region is the much talked about Hi-Tech Township, slated to come up on NH-24 near Dasna village, which is being developed by Uppal Chadha and Sun City Projects.
Although the project is being reviewed by the Mayawati government, but once cleared, the township will extend the urban periphery of the city. As part of the 2010 Commonwealth Games, GDA is planning to have two big five star hotel projects in the city.
Commercial ecstasy
On the investment front, Ghaziabad is attracting heavy investments. One can see the increasing presence of MNCs, banks, telecom and insurance companies in Raj Nagar District Centre (RDC), one of the fastest growing commercial centres not only in Ghaziabad but also of NCR.
Property market breached all records recently when a property in the area was auctioned for Rs 50,000 per sq yrd. Besides, the presence of police and district administration headquarters in the area are making the area safer. The effects of rising commercial activity could be felt in the nearby residential areas like Raj Nagar and Kavi Nagar. While Raj Nagar has a market rate of Rs 30,000-35 ,000 per sq yrd, that in the Kavi Nagar floats between Rs 25,000-30 000 per sq yrd.
Illuminated city
The city has good news on the power front too. The Uttar Pradesh Power Corporation Ltd (UPPCL) has plans to build new substations at various places in the city.
Says S N Yadav, deputy general manager, UPPCL: ''For the last 8-10 years, no sub-station has been built in the city. We are still working with the old transformers. Although, the earlier planning has been good to sustain the power needs of the city for ten years, there is now saturation in the town. We need new substations given the kind of load witnessed by the city.''
According to Yadav, 50 acres of land has been earmarked in the Integrated City area for building 400 KV, while a 220 KV substation has been proposed in the area. Another 220 KV substation for Indirapuram would come up at NH-24 for which funds would be given by GDA.
Increased water supply to Ghaziabad
Residents of Ghaziabad can expect to get an improved drinking water supply in the days ahead. The Jal Nigam is planning to increase the present water supply of 210 million litres per day (MLD) to the city to the required 217 MLD of drinking water.
YP Singh, executive engineer (Additional Project Division) UP Jal Nigam, says: ''The 2001 census shows a population of 9.68 lakh for the city. Going by that figure, the population in 2007 is assumed to be roughly around 14 lakh. To meet the demand of the present population, we need a drinking water supply of about 155 LPCD or 217 MLD as against the present supply of 210 MLD.''
Green Ghaziabad
With a reserved forest area of 1400 hectares, currently the district's forest cover is about 1.66%, the highest in NCR. Nearly 1.05 lakh trees were recently planted by the forest department, making the city all green and pollution-free zone.
The city is also known for some of the best parks in the national capital region like the 40 acres Ram Manohar Lohia Park in Rajendra Nagar and the 25-acre Swarna Jayanti Park in Indirapuram.
Focal point
Ghaziabad is the sixth most dynamic city of the world and is now becoming the hottest investment destination in the NCR with a number of major world-class projects on various fronts. As part of the 2010 Commonwealth Games, GDA is planning to have two big five star hotel projects in the city. The Jal Nigam is planning to increase the water supply to the city .
Source: The Economic Times
Crossings Republik Discussion Forum - Post Your Comments!!!
Posted online: Friday, November 16, 2007 at 1525 hours IST
Thoughtfully named around Green and Roman themes, the two projects at Dundahera are focusing those who want to enjoy the benefits of living in or close to the Alpha to Zeta sectors of Greater Noida. For others, there are more economical options closer to Noida and Delhi itself.
The two integrated townships are coming up next to each other, across a road in Ghaziabad; situated about 15 km from the Delhi border on NH 24. The geographical space is all that they seem to share among themselves. The differences between Aquapolis and Crossings Republic are almost as stark as those between a Roman city under a single emperor and a republic populated with free citizens.
Reaching there
Drive down NH 24 from Delhi. Squeeze past the sales tax barrier and head for ABES Engineering College at Dundahera. It is about 7 km from Indirapuram and about 15 km from the Delhi border. After you reach the engineering college, turn right along the road next to it. Everything on your right is Crossings Republic and on your left is Aquapolis. Separating the two is a huge storm water drain that doubles up as a sewer drain which feeds the sewerage treatment plant situated behind the Crossings Republic. In the future, the NH 24 is expected to become a 6-lane expressway and a road connection would also be completed with Greater Noida. Metro connectivity is also expected.
Vijaynager of Ghaziabad and the Lal Kuan industrial area are across the NH 24 from here.
The plans
Ansal API plans to build Aquapolis as a property with premium specifications. And coupled with their reputation in the market, they demand a decent premium for this area. In terms of launching a project here, Ansal was here first. Aquapolis is spread over more than 120 acres and comprises plots and high-rise apartments. The company also plans to acquire more land in the same project.
Crossing Republic has a more interesting origin. Seven developers who had made hay in Vaishali, Indirapuram, and Vasundhara (against all odds and against expectations of others in the market) got together to form a company and buy land here. They got the plans approved for the entire 306 acres of land, to be developed as a township. They even went ahead and sold about 1,500 apartments. The directors of the company then decided to cut up the remaining township into areas that they would individually develop and sell under the banner of their own companies. They further decided to sell land, with approved plans for residential development, to other private builders.
Crossings therefore presents a new model of residential development where a group of developers get together to do what the local development authority has been doing till now. Including the seven directors of the company, there are about a dozen smaller builders here as well. The plan is that all these guys working in parallel can develop the area faster that a single developer can. The project has no plotted development.
Both Aquapolis and Crossings still have patches of unacquired land. But these areas have been notified as part of the township and what land is being developed by the two is completely in the clear, say officials from both the projects.
Buyer beware
With many small developers being a part of Crossings Republik, and only a few having launched their projects as yet, buyers need to be wary of so-called developers offering flats on ‘pre-launch.’
It is understood that there are some booking offers doing the rounds, with rates as low as Rs 1,700 per sq ft and even a waiver of all extras and PLCs—even though they have no projects lined up at the Crossings Republik.
On the ground
Though Crossings has sold over 1,500 of its apartments Aquapolis has sold out all the plots it had on offer. Beyond that, work is progressing on sewer pipe laying at Aquapolis. At Crossings, the first floors of the towers have been constructed, work on the artificial lake is progressing, and main roads have been laid out though they have not been tarred yet.
Kingdom vs Republik
This area would be an extension of Noida/Greater Noida, but with much cheaper rates. Therefore it is an appealing prospect. But should you buy in a project being built by one of the kings of Indian realty or one being built by a challenger?
Houses at Crossings can be cheaper by as much as Rs 1,000 per sq ft. While Ansal API is a strong brand, the directors of Crossings have also built a reputation. Crossings is a larger development but Ansal plans to acquire more land. But, if you want to go for larger 4-bedroom options, you would have to go to Aquapolis for now.
Your buying decision would also be determined by the ease of buying a house here. While Ansal provides a single point of contact for Aquapolis, Crossings is almost a maze for now. Even though there are just two to three site offices there for now. As more projects get launched here, there would be about 20 developers with their site offices here. The price difference among them is not likely to be significant as they would be implementing the plans made by Crossings.
Plus, you have a much better chance of negotiating with the individual builders than with a large company. Do push for prices, and negotiate on the PLCs that are asked.
The underlying assumption is of course that the quality of construction is good across the builders. But if you have seen some the houses built by the big brands in Vaishali, you would know that a brand does not guarantee quality of construction.
Buying it
The investor class is still lying dormant. The end-user can today therefore be more experimental. There is of course the option of buying a cheaper property if you buy now. But as can be seen in some of the projects in Vaishali, the builders are holding stock in their completed projects and prices there are comparable to those of under-construction projects.
Before one gets to an area that is as far as this from Noida and Delhi, there is still a lot of vacant area in the middle that can be filled up. There are very few local demand drivers here. It will cater to demand emanating from IT companies of Noida, not from the neighbouring Lal Kuan industrial area. The big attraction here is the price which is lower for now. Presumably, it would always remain lower than areas like Delhi or Noida. The end-user should therefore look to buy only ready-to move-in properties.
None of the 20 odd builders are in a position to give that for now, and such options (or those that are nearer to completion) are available closer to Delhi and Noida in Vaishali/Indirapuram.
While the builders are targeting mainly the upcoming IT crowds of Noida and Greater Noida, these would be a perfect second house option for those living in areas of Vijaynager of Ghaziabad, if only the price was right, i.e., there were no PLCs or extra payments. If you can find a way around those, these houses here are an excellent buy, whether you buy the non-premium houses in Crossings or the premium deluxe and super-deluxe houses being offered by Ansal API at Aquapolis.
aloksingh@expressindia.com
Crossings Republik Discussion Forum - Post Your Comments!!!
-------------------------------------------------------------------------------
Glamourising Ghaziabad
7 Sep, 2007, 0729 hrs IST,Akash Vashishtha , TNN
With world-class residential townships, the world's biggest power project, fastest growing commercial centres like Raj Nagar District Center, biggest retail destination, proposal for fourteen new flyovers and Metro Rail connectivity, Ghaziabad is fast emerging as the preferred residential destination in the NCR.
The sixth most dynamic city of the world is all set to prove its worth. With a number of major world-class projects on various fronts coming up, the city is becoming the hottest investment destination in the NCR.
New Flyovers
The GDA has proposed to build fourteen new flyovers, grade separators, underpasses and clover passes at different points of the city.
Work on four of these flyovers is underway. These flyovers are not only expected to ease the traffic congestion in the city in a big way, but also beautify the city, leading to land cost appreciation. The flyovers would be built by the Uttar Pradesh State Bridge Corporation (UPSBC) at an estimated cost of nearly Rs 200 crores.
Besides, work on a six-lane expressway is also underway. The work on the Rs 33.94 crore, 8 km expressway, connecting GT Road with NH-58 bypassing the Ghaziabad city is expected to be completed by December 2008.
The 28-metre-wide signal-free expressway was conceived by the GDA with a view to ease the traffic on the NH-58 and to provide an alternative route to traffic coming from Delhi and heading towards Dehradun and Hapur.
Metro rail MoU soon
The Metro Rail proposal is back on tracks. S K Divedi, vice-chairman , GDA, said, "The Metro project is likely to be cleared by the state government soon. An MoU would be signed with the DMRC within a month.
Under the proposed Phase-II of the Metro Rail, the Rajiv Chowk-Anand Vihar link has been extended from Anand Vihar to Vaishali. It will pass through Kaushambi before reaching Vaishali. Two stations for the Metro Rail have also been finalised - one at Kaushambi and another at Vaishali.
The total length of this line is 2.05 km and would be built on an elevated track. The project is estimated to cost Rs 167 crores and is expected to be completed by September 2010 enabling the residents of the area to reach Rajiv Chowk in 22 minutes.
Biggest power project
Work on the much awaited world's largest gas-based power generation project of the Reliance Power Ltd at the proposed Dhirubhai Ambani Energy City, Dadri has already commenced. The work of constructing the 24 km boundary wall and levelling of land, costing Rs 18 crores, has been awarded to the city-based construction firms and is expected to be complete by the end of this year.
The actual work on the project is likely to commence by the end of this year. The 5600 MW Combined Cycle Power Plant at Dadri, once completed and commissioned, would address the power problems of northern region in a big way. Power from the project would be mainly supplied to UP, Delhi, Haryana, Punjab and Rajasthan. The first phase of the gas-based power project comprising 1400 MW is likely to be operational by mid 2010.
Integrated and Hi-Tech townships
An integrated township - Crossings Republik is being developed on NH-24 by Crossing Infrastructure, a consortium of seven promoters, including Gaursons India, Assotech, Supertech Constructions and Mahagun.
Another major township that would alter the landscape of the region is the much talked about Hi-Tech Township, slated to come up on NH-24 near Dasna village, which is being developed by Uppal Chadha and Sun City Projects.
Although the project is being reviewed by the Mayawati government, but once cleared, the township will extend the urban periphery of the city. As part of the 2010 Commonwealth Games, GDA is planning to have two big five star hotel projects in the city.
Commercial ecstasy
On the investment front, Ghaziabad is attracting heavy investments. One can see the increasing presence of MNCs, banks, telecom and insurance companies in Raj Nagar District Centre (RDC), one of the fastest growing commercial centres not only in Ghaziabad but also of NCR.
Property market breached all records recently when a property in the area was auctioned for Rs 50,000 per sq yrd. Besides, the presence of police and district administration headquarters in the area are making the area safer. The effects of rising commercial activity could be felt in the nearby residential areas like Raj Nagar and Kavi Nagar. While Raj Nagar has a market rate of Rs 30,000-35 ,000 per sq yrd, that in the Kavi Nagar floats between Rs 25,000-30 000 per sq yrd.
Illuminated city
The city has good news on the power front too. The Uttar Pradesh Power Corporation Ltd (UPPCL) has plans to build new substations at various places in the city.
Says S N Yadav, deputy general manager, UPPCL: ''For the last 8-10 years, no sub-station has been built in the city. We are still working with the old transformers. Although, the earlier planning has been good to sustain the power needs of the city for ten years, there is now saturation in the town. We need new substations given the kind of load witnessed by the city.''
According to Yadav, 50 acres of land has been earmarked in the Integrated City area for building 400 KV, while a 220 KV substation has been proposed in the area. Another 220 KV substation for Indirapuram would come up at NH-24 for which funds would be given by GDA.
Increased water supply to Ghaziabad
Residents of Ghaziabad can expect to get an improved drinking water supply in the days ahead. The Jal Nigam is planning to increase the present water supply of 210 million litres per day (MLD) to the city to the required 217 MLD of drinking water.
YP Singh, executive engineer (Additional Project Division) UP Jal Nigam, says: ''The 2001 census shows a population of 9.68 lakh for the city. Going by that figure, the population in 2007 is assumed to be roughly around 14 lakh. To meet the demand of the present population, we need a drinking water supply of about 155 LPCD or 217 MLD as against the present supply of 210 MLD.''
Green Ghaziabad
With a reserved forest area of 1400 hectares, currently the district's forest cover is about 1.66%, the highest in NCR. Nearly 1.05 lakh trees were recently planted by the forest department, making the city all green and pollution-free zone.
The city is also known for some of the best parks in the national capital region like the 40 acres Ram Manohar Lohia Park in Rajendra Nagar and the 25-acre Swarna Jayanti Park in Indirapuram.
Focal point
Ghaziabad is the sixth most dynamic city of the world and is now becoming the hottest investment destination in the NCR with a number of major world-class projects on various fronts. As part of the 2010 Commonwealth Games, GDA is planning to have two big five star hotel projects in the city. The Jal Nigam is planning to increase the water supply to the city .
Source: The Economic Times
Crossings Republik Discussion Forum - Post Your Comments!!!