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Showing posts from August, 2008

Crossings Projects

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Ghz a positional advantage

Ghaziabad, one of the satellite cities of the National Capital Region (NCR), is located in Uttar Pradesh. Ghaziabad enjoys a positional advantage as it is located on the Grand Trunk road — connecting Bangladesh to Afghanistan. Moreover, its easy connectivity with the national capital and the rapidly industrialising city of Noida has given strong reasons to the local government for its development. In the last few years, the development authorities of Ghaziabad have laid special emphasis on developing the social and physical infrastructure of Ghaziabad. As a result, many companies like Coca-Cola and ITC, have set up their manufacturing units in Ghaziabad. This development has boosted the retail sector in Ghaziabad. Investment boon: Owing to the high rental and capital values of residential and commercial spaces in Delhi, investors have started directing their investments to Ghaziabad. Investors have a valid reason for doing so. Ghaziabad is not only one of the hot destinations for in

Target 2010

The Commonwealth Games brings with it upgradation of infrastructural facilities which will prove to be a boon for East Delhi, Noida and Greater Noida. In the early 1980s, and even in ‘90s, East Delhi was considered a bit too down market and a poor cousin of the fast developing South Delhi. East Delhi and its suburbs Noida, Greater Noida and Ghaziabad lacked everything from great residential destinations, wide roads, and markets among others. Much water has flowed down the Yamuna since then, literally. The infrastructural developments leading up to the Commonwealth Games of 2010 will change the face of East Delhi, Noida, Greater Noida and Ghaziabad much like the 1982 Asian Games changed South Delhi. In the run up to the games, the Delhi government has readied a Rs 4,000-crore makeover plan for East Delhi and Noida - Greater Noida and Ghaziabad will reap the benefits due to their sheer proximity to the place. The projects under operation ‘makeover’ include Metro Rail connectivity (work i

Ghaziabad hottest destination in NCR

Proximity to Noida, Delhi makes Ghaziabad hottest destination in NCR Las Vegas, London and now — hold your breath — Ghaziabad! The wild west of UP is now up there among the 10 most dynamic cities of the world. A Newsweek survey, which put the city on the global map, happened in 2006 and since then Ghazibad has been hip and happening. In two years, it has done a complete makeover by adding malls, hi-tech cities and golf courses to its new face. Location Capital Rate* Rentals* Vaishali 7,500-12,000 67-110 Kaushambi 5,000-9,000 45-80 Indirapuram 8,000-15,000 70-135 City core 8,000-11,000 70-100 Raj Nagar 7,000-11,000 60-100 Source: JLLM * (INR per sq ft) Developed as the industrial hub of Uttar Pradesh, Ghaziabad has come a long way from being called the poor cousin of Noida and Gurgaon in the NCR. “The fact that private developers can buy land directly from farmers in Ghaziabad, unlike in Noida and Greater Noida, helped the city score over others,” says Ghaziabad Devel

Dadri thermal power project in UP

Asserting that work on the 980 MW National Thermal Power Corporation's Dadri thermal power project in Uttar Pradesh was going on at a brisk pace, Minister of State for Power, Jairam Ramesh, on Sunday said that the first phase of the project would become operational in September 2009 and the next phase by January 2010, much before the commencement of the 2010 Commonwealth Games in the Capital. Stating that implementation work of the project was being monitored regularly, Mr. Ramesh said the 2x490 MW coal-based power generating units would provide massive power boost to Delhi and Uttar Pradesh. "This project is part of the special initiative to put in place proper infrastructure in order to ensure hosting of hassle-free Commonwealth Games," he added. Under the agreement, 90 per cent of the power generated from the project would be dedicated to Delhi and the balance would go to Uttar Pradesh.BHEL is the supplier of boilers and turbine generators for the project. Mr. Jairam R

Crossings Republik Construction

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Crossings Republik Construction Update: 25/08/2008 Crossings Infrastructure Flats Mahagun Mascot Flats Supertech Livingston Flats Cosmos Golden Hights Flats

NCR by 2010

Delhi may be the capital and the political nerve centre of the country but its problems are commonplace in most other Indian cities. The recent sporadic monsoon showers that inundated the city and almost brought it to a standstill exposed the complete lack of civic governance. There are other telltale signs that the city's infrastructure is stretched to the limit--power outages, potholed roads, traffic snarls and overcrowded airports is something the ordinary Delhiite is reconciled to. Not the most conducive business environment, but then these are not the only reasons why Delhi has dropped one position in our survey of "Best Cities for Business" in India (it has been displaced by Bangalore at the No. 2 slot while Mumbai continues to rule at No. 1). Game for the Games: Construction work is on at the Emaar-MGF Commonwealth Games village to house the athletes Its Achilles' heel, CEOs say, continues to be its poor law and order situation. Says Pramod Bhasin, President an

Impact of economic slow down

The impact of economic slow down is now visible on the demand for the commercial office space in the country. According to a report on office space by a global real estate consultant Cushman and Wakefield, both Indian and multinational companies are deferring their expansion plans. This has also affected the rentals of the office space in the country. The rentals of IT office space have declined between 3% and 13%. In Noida particularly, the decline in the rentals of the IT office space is maximum at 13% during the quarter ending June 2008. At present, the space according to the report is available at Rs 39 per sq. ft per month. In Gurgaon, the rentals of IT offices have declined by around 3% during the period to Rs 76 per sq. ft per month. However, the rentals for other commercial space in Gurgaon increased by 4% during the period to Rs 118 per sq. ft per month. Kaustuv Roy, Director, Tenant Strategies & Solutions, India, Cushman & Wakefield says, "There has been a

Power crises in Ghaziabad

Residents of many areas of Ghaziabad adjoining Delhi and extending up to the Hindon river have been facing a severe power crisis - with cuts extending up 16 hours a day -- over the past few days on account of maintenance work going on at the 220-KV power sub-station in Sahibabad, which supplies power to these areas. Increasing demand for power and lack of power infrastructure have only made matters worse. "Overall power cuts extending up to 16 hours a day and six hours at a stretch have led to other problems like shortage of drinking water supply. Inverters, too, fail in these conditions making it all the more difficult in this humid weather," complained Poonam Gupta, a housewife living in Shalimar Garden. "In the absence of power and water, it becomes difficult in the morning to even get the children ready for school," she added. The unscheduled power cuts have also created peculiar situations for people in carrying out daily activities. "I was withdrawing mon

Dismissal of Mayawati govt

Greater Noida farmers demand dismissal of Mayawati government Hundreds of farmers gathered here Monday demanding the dismissal of the Mayawati government and protested the acquisition of farmland by the Uttar Pradesh government at what they claimed were cheaper rates. At a massive meeting held at Ghori-Bachhera village, the farmers announced that they would meet President Pratibha Patil and United Progressive ALliance chairperson Sonia Gandhi to submit their demand for dismissal of the state government. Farmers gathered from the nearby districts of Bulandshahr, Aligarh, Baghpat, Meerut, Muzaffarnagar and Ghaziabad to condemn the police firing on farmers on Aug 13 in which five people were killed and passed a resolution that the farmers would not allow further acquisition of their land. Farmers' leader Raj Kumar Bhati said: "The authorities forcibly acquire farmers' lands at a very meagre price and then sell these at a very high premium - more than 100 times. The land is th

Crossings Republik

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Property Investors Exitting

Rising interest rates, shrinking pool of home buyers and anticipated fresh supply of DDA flats has set off what could be termed as early signs of panic among real estate investors in Delhi and its suburbs. An increasing number of investors are wary of holding the property any longer and are turning it back to developers or pushing property dealers to find buyers fast. Industry experts, however, feel end-users should not rush into buying property at present and wait till the festive season, following which there could be a major price correction. "A rising home loan rate has badly dampened consumer sentiments. July was bad and August will be worse. The latest round of loan rate hike would sink in over the next few weeks and its impact on home buyers could be visible by the end of this month," says an HDFC executive based out of Delhi. He says home loan inquiries have fallen by 35-40% in Dwarka, one of the biggest colonies of Delhi, which offers a large supply of apartments. Dw

Housing still in high demand

It is not just that property prices are in a flux in the NCR. But there is no unanimity about the current state of the market, even among experts. Ever since the start of this calendar year, experts have been speaking about a correction in prices. While several cases are cited in support of these predictions, for the buyers houses are going out of reach almost each successive day. The big picture Recently, Makaan.com came out with a report titled Property Trends (Delhi/NCR). From the end user point of view, it did not present a very rosy picture. Broadly, the report says that while there is a slowdown in the market, demand for houses has actually grown. And in the face of claims that there is a correction in prices, the property prices have actually registered modest to handsome appreciation, over the January-April 2008 trimester. The findings of the report however have to be taken with pinch of salt as it is based on the activities of prospective buyers visiting this particular prope

GDA Increase Of The Floor Area Ratio

Ghaziabad Development Authority (GDA) Increase Of The Floor Area Ratio (FAR) With the Ghaziabad Development Authority (GDA) announcing the increase of the floor area ratio (FAR) to 2.5, the city is all set to house more 15 to 17-floor buildings. The decision has invited a mixed response from the residents. While some say that the demand for more floors has increased with the changing times, others say that it will only convert the city into a concrete jungle. "There is a demand for the top floor. The common notion is that apartments on the tenth floor and above are more secure, and there is less disturbance and more fresh air. We have sold out all apartments on the top floors but have few apartments available on lower floors," says Rama Bisht, sales executive of a proj ect under construction in Indirapuram. As per the new order, private developers can now cover 2.5 FAR along with 50 per cent extra construction, that will be allowed after additional payment. Upto now GDA allow

Golf Course Residential Complexes

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Green And Serene: Developers Concentrating On Golf Courses Inside Residential Complexes In NCR Love to play golf but don't have time to make it to the club every day? Real estate developers are working hard to solve your problem. Five residential projects with exclusive, integrated golf courses are coming up within the NCR. Tarudhan Valley Golf Resort in Gurgaon calls itself India's first gated golf community. They have 213 studio apartments and villas -- all facing a nine-hole course spread over 52 acres and costing between 0.75 crore and Rs 3.5 crore. "Golf attracts a certain type of people and our idea is to create a likeminded community," says Ravish Awasthy of Silverglades, promoters of this property. Besides NRIs and people who have offices in Gurgaon, there are non-golfers too who have invested in Tarudhan, lured by the view of the rugged Aravali Hills and a beautifully landscaped garden. Jaypee Greens, a 450-acre golf-centric real estate project in Greater Noi

Jewar Airport Unlikely To Take Off

Mayawati's Airport Dream Unlikely To Take Off At The National Capital Region (NCR) Uttar Pradesh chief minister Mayawati's all-out effort to pull down the UPA government is likely to take its toll on her pet project -- an aviation hub at Jewar near Greater Noida. The grand plan to build a second airport in the national capital region (NCR) is unlikely to take off in the near future as the central government is in no mood to throw its weight behind the project due to the recent changes in political equations. Current indications are that further clearances for the project and the Centre's support may not be forthcoming. "The matter is pending with a Group of Ministers (GoM) which is looking into the legal aspects of the proposed project. We should wait for their comment and observation," a government official said. The Union Cabinet gave its in-principle approval to the Greater Noida airport at the beginning of this year, but the issue of compensating the GMR Group