Bull Run Digital

Skyscrapers complete with helipads to help residents reach their workplaces in a matter of minutes, new apartments for 4.22 lakh families — from every category — in space-starved Delhi, a leisure valley, river-front boulevard, city park, museum, art galleries, open-air theatres and large stretches of greens interspersed with waterbodies and much more. Sounds too much like a dream? Well it is DDA’s dream draft plan for P-II zone, a new sub-city painted to perfection, presented at the DDA meeting chaired by lieutenant governor Tejendra Khanna recently for approval. The plan pertains to a zone which today comprises 24 villages and 68 unauthorised colonies. For them, the zonal plan offers redevelopment. The eyesore that is the stinking Bhalswa landfill marks the periphery of this zone which as of now has large chunks of open land, making it much sought after for building a new township. With the authority’s clearance in hand, the draft has now been put out for public feedback. Onc

World's two fastest growing economies China and India will continue to witness boom in the real estate segments in smaller cities as both countries are expected to record strong growth in residential demand in the coming years, says a report. Further, investments volume in the two neighbouring nations is projected to go up in the next few years. According to a report prepared by the research group of Germany's Deutsche Bank, the long-term growth prospects for both countries ‘remain very good.’ "All commercial real estate segments continue to boom Tier-II cities will gain particularly... Investment volumes are still very low. This will change rapidly in the next few years," the report titled 'Real Estate Investments in China and India: Big returns in big countries?' said. Although, strong residential demand growth is expected, the bank noted that "dangerous exaggerations can occur." An important growth driver for the real estate market would be the in

India's five-year property boom is coming to an end as the supply of housing increases, borrowing costs rise and a stock market rout erodes buying power, according to executives at two mortgage lenders. Prices across India may drop as much as 15 percent in the coming months, said Keki Mistry, vice chairman of Housing Development Finance Corp., India's largest provider of home loans. Gagan Banga, chief executive of Indiabulls Financial Services Ltd., said prices may fall as much as 20 percent. India's central bank signaled it will raise borrowing costs further after increasing rates this week to the highest in more than six years, curbing demand for loans. The nation's property market may avoid the meltdown seen in Spain, the U.K. and U.S. because of lower indebtedness and a housing shortage estimated by the government at 24.7 million units, the executives said. ``Due to the state of the equity markets, many investors who would have bought a second or a third house are a

Infrastructure a key challenge to the growth of sustainable Indian real estate sector ``To transform the Indian real estate sector into the best paradigm in the world is vision 20-20``, said Anuj Puri, conference chairman & chairman and country head, Jones Lang LaSalle Meghraj at the conference on Indian Real Estate 20-20 organised by the Confederation of Indian Industry (CII) in Mumbai today. Puri laid down the issues impacting the growth of the Indian real estate sector and the need to focus on those challenges to move ahead. He emphasized on the need to recognize and address following issues: Demand & Supply: With rising interest rates and inflation, residential real estate demand remains. However the need is to anticipate the needs of the end users and match demand with supply. Liquidity: Though liquidity was not an issue earlier, a balance between risk and return is gaining importance and therefore look at innovative financial structures becomes important. Market Performan

The double-digit inflation will have an adverse effect on real estate sector in the country, with residential sector, which is already facing a slowdown, taking the hardest hit. If the present conditions continue, consultants and bankers say the prices might be corrected by 15% to 20% in the next couple of months. Consultants and bankers feel that in the present condition, buyers should wait for some time before going in for a house. However, they must also keep an eye on the market, as it will rebound as soon as the inflation, and consequently interest rates, start coming down. However, if an end-user gets a good property of his choice at a reasonable price, he can take the plunge. But, in that case, they should buy at a borrowed fund on floating rate, because when the interest rate goes down, they will be benefited by a lower EMI. The rising inflation affects buyers badly, as it results in rise in prices and their invest-able surplus goes down. At the same time, to contain t

Stamp duty down, Noida,Ghaziabad look to pack coffers The Uttar Pradesh government's decision today to reduce stamp duty on registration of properties is expected to come as a relief for both potential homeowners and the authorities in Noida, Greater Noida and Ghaziabad. With the duty down from 8 per cent to 5 per cent -- it's slashed from 6 per cent to 4 per cent for women -- the Authority expects more people to come forward and get their property registered, at a cheaper rate. In effect, that would mean an increase in revenue collection for the different administrations, which expect malpractices and evasion to dip drastically The finance and revenue department had amassed Rs 775 crore in stamp duty last year, and Trivedi expects the figure to shoot up after the rate cut. Experts also expect the reduced rates to affect the property market. "Many property dealers buy houses and sit back on the registration front," said N P Singh, president of Noida's Forum of Res

Gr Noida Plots A Green Course, Makes Planting Of Saplings Mandatory In Each Residential Premise The greenery in Greater Noida must have played a major part in making up your mind to own a house there. But to realise your dream of living in the natural environment, you must learn a few lessons. The Greater Noida Industrial Development Authority (GNIDA) would not give a completion certificate for your dream home until you plant an evergreen tree in your compound. Beware; the authority can cancel your allotment if the tree is felled to make way for any construction. The allottee of even a 120 sq m plot must plant a tree after construction of the house to get a completion certificate. Heavy fines would be imposed if an allottee fails to get the completion certificate within the stipulated time and the allotment could be cancelled if he fails to receive the certificate even after expiry of the construction period. "We will give the certificate only when we are assured that

The services of a Singapore based Infrastructure Company are likely to be hired for the infrastructure development of 44,000 hectare land along Taj Expressway, now Yamuna Expressway. The Greater Noida Authority has also finalised the contract for the development of Night Safari and the construction will start next month. The company has given responsibility to present a detailed plan of infrastructure development along Yamuna Expressway. "The company has been assigned to present a detailed report on 44,000 hectare along both the sides of the expressway," said Lalit Srivastava. The company is expected to submit the details regarding power consumption, power generation and supply, industrial, commercial and institutional sectors, roads, health services, and other necessary requirements for a city of International standards. Meanwhile the Greater Noida authority has cleared the proposal of Night Safari submitted by a Singapore based company. "The project has got nod of the

Ansal Properties' arm gets investment of $ 55 million from HDFC AMC HDFC Asset Management Co (HDFC AMC) has informed that it has made an investment worth US$ 55 million in Ansal Hi-Tech Townships, a subsidiary of the New Delhi-based property developer, Ansal Properties & Infrastructure (API), for a minority stake in the project. Ansal Hi-Tech Townships, a special purpose vehicle (SPV), is building a 2,500- acre modern township with a developable area of 75 million sq ft in Greater Noida in the National Capital Region. Presently, the project is in the land acquisition stage and is expected to be completed in the next 6-7 years. Ansal is expecting a turnover of Rs 26,000 crore from the project and expects to invest over Rs 12,000 crore in the project. Further, Ansal group has also signed a shareholder and debenture subscription agreement with HDFC AMC. HDFC Mutual Fund has been one of the best performing funds in recent years. The sponsors of the fund are housing finance major H

GNIDA to introduce 2 residential schemes of 5,000 houses and 3,000 residential plots by June end The Greater Noida Authority will introduce two residential schemes by the end of this month. The schemes will include 5,000 houses and 3,000 residential plots for lower and middle-income groups. Interested people can submit separate applications for both the schemes. But one person can apply for only one plot or house in each scheme. The houses and plots under the scheme will be located near Sector KP-5. The houses will built over an area of 35 to 45 sq. mt. They have been priced between Rs 3 lakh and Rs 5 lakh per unit. Each unit will consist of a bedroom, a kitchen and a bathroom. According to an official source, an added attraction of these houses will be its locality that will have broad roads, community centres, parks, children's park, nursing home and market. Parking lots for vehicle will also be provided. The houses will be allotted on installments for 10 years at 12 per cent rat

Aimed at meeting the skilled manpower shortage in the water supply and sanitation sector in the country, a state-of-the-art water training centre will come up in the National Capital Region. ‘‘The National Water and Sanitation Institute, first of its kind in the country, will spread across 14 acres of land in Ghaziabad at an estimated cost of Rs 26 crore with French assistance,’’said a senior Urban Development official. Though there are post graduate courses in public health engineering and environmental engineering in 11 universities and academic institutions in the country, there is a shortage of skilled manpower for effective management of water supply and sanitation sector. The number of persons trained under the Centre for Public Health and Engineering and Environment Organisation is 1,500 per year whereas the requirement is estimated to be more than 20,000. ‘‘There is a need for such an advanced centre in the wake of new emerging technologies and regulation framework in the fi

Real estate developer DLF will soon get around 5,000 acres near Greater Noida at less than market rate under the Taj Expressway Industrial Development Authority’s (TEA) scheme. Jaypee group, too, has qualified for allotment of 2,500 acres, while Unitech and Punj Lloyd are in queue for 2,500 acres each. TEA additional CEO C S Verma told ET that the authority will complete the process of acquisition of 7,500 acres in three months, following which it will be allotted to DLF and Jaypee group. “We are negotiating with farmers and should be able to finalise the acquisition rate in the first week of July. Once the rate is finalised, it wouldn’t take us long to acquire the land,” he said. TEA will transfer the land to realty developers at acquisition cost from the farmers, which is likely to be much cheaper than the market rate developers have been paying privately. The ability to buy large tract of land at a cheaper price without spending much time and energy in the process is what is driving

Realtors Are Reconsidering Plans To Enter The Hospitality Sector Leading property developers are pulling out of proposed deals with hospitality majors, including Royal Orchid Hotels and Ramada Worldwide, as cash flows in the real estate sector are slowing. Realtors are reconsidering plans to enter the hospitality sector, according to sources. Real estate developers with presence in National Capital Region (NCR), Bangalore, Chennai, Pune, among others, are opting out of four and five-star hotel projects. According to sources, a five-star hotel in Pune shelved its plans recently as its developer pulled out of the commitment. "The return on investment in a hotel will not be as high as it will be in putting the land to commercial use. Committing to the hospitality sector means waiting for five or more years (till the hotel becomes operational) to get returns," says Shivaram Malakala, executive director of Habitat Ventures, Bangalore. "Developers are looking at realising thei

Indian Rental Market Zooms, developer completing projects in hand rather than creating new When the slowdown happened in 2006-2007, strategies changed and developers started completing projects in hand rather than creating new projects. Shabana Patni has been living in a premium condominium in Gurgaon, in the National Capital Region. As a senior manager in a leading IT-enabled services firm, the last thing she ever wanted to worry about was where to stay. She had found a secure, well-located condominium and had been staying there for over five years. But this year she got a jolt. Her rental contract was renewed at a price that was about 30% over what she had been paying. The reason - the rental market had zoomed as never before. Even considering the seniority of her post, such a steep hike was not viable for either her or the management of her firm. A shift-out of these premises was on the cards. Then came the second option. She had to move and the organisation was to raise its rental

Very Soon, 779 swanky apartments and penthouses on the banks of Yamuna would be up for grabs.Emaar-MGF-the Dubai-based real estate firm, which is developing the residential facility for the Commonwealth Games - is planning to start the process of pre-booking of flats that are coming up at the Games village. The move follows the recent decision of Delhi Development Authority (DDA), which has identified and allocated the project developer its share of residential apartments. "Pursuant to the completion of identification of our quota of residential apartments, we have initiated the process of identification of customers," said a spokesperson for Emaar-MGF. But the developer's decision to start the process of pre booking flats may run into legal hurdles. The High Court had restrained the DDA from initiating any process to sell the apartments that are coming up at the site before the Commonwealth Games. In April this year, Emaar MGF had made a presentation before Delhi lieuten

How green is your house? While not many would question the logic of constructing green buildings, there are very few people who live in them. As Zeenat Niazi, Programme director for habitat, Development Alternatives puts it, “The same government which promotes green buildings will not live in them.” And it is not just the government. Even people in rural India (long celebrated for their ecologically sustainable practices) are being lured into all-brick construction. As any ecologically sensitive architect will tell you, fired brick is an un-green and an unsustainable building material. But, as the same architect will tell you, all the so-called unsustainable materials will always find a place in the greenest of buildings. What is sustainable construction Clearly, the concept of sustainability needs to be demystified. According to the Brundtland Commission, sustainable development “meets the needs of the present without compromising the ability of future generations to meet their own ne

The high demand for residential, industrial and commercial plots has increased the circle rates in Ghaziabad After Noida and Greater Noida, it is now the Ghaziabad’s turn to see a rise in land rates meant for residential purposes. New circle rates have been proposed to bridge the gap between real estate prices and existing sector rates. M P Singh, deputy commissioner (stamp), says, "after receiving the objections , district administration will revise the new circle rates. They are likely to be effective from June 16th. According to proposed circle rates, near NH-24, circle rates have been hiked from 80 lakh to 1 crore per acre in Mehrauli village." The new rates have been hiked on basis of distance covered from National Highway. Interestingly more than the residential colonies, there is a likelihood of a steep increase in the residential land circle rates. In Ramprastha, Surya Nagar, Chandra Nagar, Vaishali, Kaushambi, Indirapuram, Vasundhara, Kavonagar, Rajnagar, Nehru Na

Don’t allow change in land laws, say greens The riverbed has finally got some breathing space, or so one would like to believe, with the DDA decreeing that it would be classified under the ‘O’ zone, the objective of which is to augment water supply, contain pollution and have eco-friendly ‘‘green’’ development. However, the order also mentions that, after the first phase, further implementation of the project would be dependent on studies in the area. Although thrilled with the order initially, environmentalists and activists were doubtful of the need for further studies. With the L-G’s order six months earlier, several ongoing projects were put on hold. The only construction permitted now is the Games Village and the DMRC depot. Other projects that were being planned, like stadiums and sports complexes, will probably not see the light of day. Activist Manoj Mishra of Yamuna Jiye Abhiyan, was extremely optimistic about the new plans. ‘‘At least some effort has been made to stop conc

L-G nod to only green projects for Yamuna New Delhi: No construction will be allowed along and around the Yamuna River and the riverfront. Putting a stamp of approval on the draft zonal plan for river Yamuna — Zone O — at the Authority meeting of the DDA, lieutenant governor Tejendra Khanna made it clear that only greens will be developed in this zone and even sought substitution of the word recreational activity in areas demarcated for the purpose in the zone with green development. At the meeting chaired by the LG, who is also the chairperson of the Yamuna River Development Authority, it was asserted that all thermal power plants operating along the Yamuna would be shifted out before 2010 to eliminate pollution. Earlier too, Khanna had ordered that no new constructions except for work on the Commonwealth Games Village could be carried out on the riverbed. The river authority, set up under the chairmanship of the L-G, is among the various committees reviewing the status of developm

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The Noida Authority in its 151st board meeting on June 10 decided to rename some of the important buildings in the boomtown. The district hospital in Sector 30 was renamed as Dr Bhim Rao Ambedkar Multi-Speciality hospital. The flyover for entering Noida from Sarita Vihar side was renamed as Maha Maya Flyover. The under construction girls inter college in Sector 44 was renamed as Maha Maya Balika Inter College. The boys inter college in Sector 91 was renamed as Panchsheel Balak Inter College. Incidentally, UP Chief Minister Mayawati had laid stone of all these buildings on May 13, 2006. In the Dr Ambedkar Multi Speciality Hospital complex, the offices of Chief Medical officer will also be located. The hospital is being constructed at an estimated cost of Rs 378 crore. The hospital will have residential accommodation for doctors and para medical staff

Foreign hands building India, Now a new generation of foreign architects has designs on India Time was when there was only the oc casional eruption of concrete. Today India's skyline is a work in progress But while the towering new skyscrap ers, sprawling IT parks, glitzy airports and swanky townships reflect desi aspirations the blueprint, more often than not, is foreign. Be it a slum redevelopment project in con gested Mumbai or Kolkata's new museum of modern art, the global imprint on the country' fast-changing urban landscape is evident. Made in India but designed by a clutch of foreign ar chitects looking to cash in on the country's real estate boom. For Edinburgh-based RMJM, the company behind the distinctive Scottish Par liament, a foray into India four years ago has translated into business of £1 billion. That, the company says, is unprecedented for a UK ar chitecture firm doing business in India. ``There' a cue here for UK business -- we need to be in India

As IT Sector Strains Infrastructure Govt Proposes Separate Regions For It's Integrated Townships India is proposing to set up separate investment regions complete with integrated townships for the "planned growth of the knowledge industry" because the booming IT sector in major cities is straining current infrastructure and adding to inflationary pressure. "A blueprint has been prepared to build IT investment regions for planned growth of the knowledge industry. The central government will partner with states to provide infrastructure and attract investments in allied sectors to build integrated townships with facilities to work and reside," Jainder Singh, the union IT secretary, said in an interview here. Haphazard growth of the IT industry in Bangalore, Hyderabad, Chennai, Pune, Mumbai, Kolkata and NCR (national capital region) comprising Delhi, Gurgaon, Noida and Faridabad has put enormous pressure on infrastructure, civic amenities, transportation and public

New flyover coming near Sector 93-A,a part of road connecting Badarpur in Faridabad to Ghaziabad Almost a year ago, Sectors 93-A and 93-B were getting ready to become a major residential hub at a prime location. Almost six developers were getting ready for the completion of their premium projects. People were moving into the apartments. Today, an address in any of these apartments is a mark of prestige. Even though this place has connectivity and up-market specifications, the rates of residential apartments have not seen any big rise over a period of one year. Since early 2007 the rates have risen by 8 to 10 per cent. At present, almost 5,000 apartments from the six developers are giving the buyers a lot of options. These builders are Supertech, ATS, Parsvnath, Eldeco, Omaxe, and Purvanchal. A 6-km from Amity Crossing brings you to the site of these projects. Apart from these, other developers are also setting up luxury projects along the express Highway. Prominent are Jaypee at sector

New Delhi: The IT industry’s footprint looks set to expand beyond its existing homes. Faced with a challenge from upstarts threatening to erode India’s low-cost appeal, the government is planning to build 43 new information technology cities across the country to retain its top dog status in the business and to be in a position to tap the huge surge in demand for IT-enabled services over the next 10 years. The move comes at a time when the rising infrastructure and employee costs in big cities are threatening to blunt India’s crucial cost advantage. While India has held on to its pre-eminent position, its IT and BPO companies are losing their global cost advantage with the emergence of countries like Vietnam and the Philippines, which offer similar services at cheaper rates and are threatening India’s status as the world’s back office. As the allure of BPO jobs goes down and attrition rates go up, companies are finding it difficult to recruit quality employees in the big citie

The DMRC's revised Delhi Metro Master Plan 2021 for NCR towns in phase III and IV include Faridabad, Ghaziabad, Bahadurgarh,Nawada, Noida (sector 62) and Kheri Khurd, besides Gurgaon. About 62 kms of metro lines are planned in these NCR towns in the future. Master Plan 2021 shows an 160 km expansion plan within Delhi in Phase III and IV As per plans, the Metro line would be extended to Faridabad from Badarpur border till YMCA Chowk in Phase III. The proposed elevated 13.8 km line would have nine stations and would be ready by 2012. The 9.41-km-long Ghaziabad extension till Main Bus Stand, 4.88-km-long Bahadurgarh extension and 3-km long Nawada extension from Gokulpuri border will come up in Phase III. Phase IV has plans construct a six-m-long Ghazipur border-Noida (sector 62) line and a 5.50-km-long Ajronda-Kheri Khurd line. The total length in this phase will be around 11.50 km.HTC

Parsvnath Developers is constructing a world class residential projects close to Delhi in Ghaziabad at affordable price, writes Rakesh Ranjan Parsvnath Exotica is strategically located on the main Grand Trunk(GT) road, merely one km from Narendra Mohan Hospital and approx six kms from Dilshad Garden Metro station. This air-conditioned super luxury condominium is spread over 32 acres. A star rated project in the city, which has been inspired by Parsvnath Exotica, Gurgaon will be an architect’s delight. This magnificent project is an unique blend of architecture and natural beauty with 75% of the open area dedicated to green lands, water body, parks etc. This modern air-conditioned multi-storey ( 10-13 storey) condominiums offer three-bedroom, fourbedroom and five-bedroom high-end apartments in the Ghaziabad area. Within the proximity of NCR, the project will be equipped with modern amenities in a near natural environment to make a delightful living for the residents. The projec

Buying a house? Hold on...for a while. The Reserve Bank of India’s move to raise repo rates (the rate at which the RBI lends money to banks) is likely to trigger a further dip in realty prices over the next few months. Property prices have been stagnating due to falling demand and high interest rates. Home loans will become more expensive as hike in repo rates will push banks to go for an upward revision in interest rates. Smaller property developers, who are hit by falling sales and liquidity problems, are expected to reduce prices in an attempt to bolster demand. “We are heading for a major crisis. Prices have already crashed by 20 per cent. Nobody buys in a falling market expecting further correction. The repo rate will further aggravate the situation,” said Arvind Goyal, who heads Navi Mumbai-based real estate company Karnala Infra Projects. Navi Mumbai, the satellite city developed to decongest Mumbai, is witnessing a real estate boom with more than 800 projects under construction