Status check: Crossings Republik
Status check: Crossings Republik
Archana Adnani, UTVi
Published on Wed, Aug 5, 2009 at 15:14 IST
MUMBAI: UTVi went to the site of Crossings Republik, one of the biggest townships coming up on NH 24 for a project status check. Apartments here are due for possession next year and buyers want to know if the construction is on schedule. We got you some facts on the project and here is our story
Most of last year saw a slew of affordable houses come up all over the country...
And one area that has emerged as a hub of budget homes near Delhi is the NH 24 stretch in Ghaziabad. Among the largest projects on this realty corridor is Crossings Republik that aims to provide budget homes to 25000 families.
Crossings Republik was launched in 2006 as India's first global city. This 360 acre project is being developed by a consortium of as many as seven developers. Now that's a multiplication of many resources. But for this project to meet its timely delivery would need the superb management and coordination of all these resources
Indeed, the question on the mind of many buyers is that- how are 7 different stakeholders going to pull off a project of this scale? We checked with one of the builders of this project Assotech to get you the answer.
Rajiv Rai, VP, Assotech, said, "Seven developers have come together to form a company called Crossings Infrastructure pvt Ltd, and this company works as the development authority to work on the whole area of 360 acres. Within the master plan for the project different developers have been earmarked different areas."
Construction at Crossings’ site may have picked up pace now. But last year saw the project bearing the brunt of the slowdown. As buyer interest dipped, builders decided to reduce prices to an affordable range of Rs 20-25 lakh. Market sentiment and buyer interest in the project may have improved now but doubts around lack of facilities still remain.
Complete infrastructure within its confines- that is the promise Crossings Republik has made to its investors. While the construction of apartments seems on schedule to meet its 2010 deadline, the development of overall infrastructure is far from any kind of completion.
The only visible sign of facilities at the Crossings site was a half completed shopping plaza and golf course. Work on the other amenities like the school, malls & club has yet to start.
The first phase of the project is due for possession in another 8 months and one can only hope that the developers of Crossings honor their end of the deal.
Source: Bloombergutv.com
Archana Adnani, UTVi
Published on Wed, Aug 5, 2009 at 15:14 IST
MUMBAI: UTVi went to the site of Crossings Republik, one of the biggest townships coming up on NH 24 for a project status check. Apartments here are due for possession next year and buyers want to know if the construction is on schedule. We got you some facts on the project and here is our story
Most of last year saw a slew of affordable houses come up all over the country...
And one area that has emerged as a hub of budget homes near Delhi is the NH 24 stretch in Ghaziabad. Among the largest projects on this realty corridor is Crossings Republik that aims to provide budget homes to 25000 families.
Crossings Republik was launched in 2006 as India's first global city. This 360 acre project is being developed by a consortium of as many as seven developers. Now that's a multiplication of many resources. But for this project to meet its timely delivery would need the superb management and coordination of all these resources
Indeed, the question on the mind of many buyers is that- how are 7 different stakeholders going to pull off a project of this scale? We checked with one of the builders of this project Assotech to get you the answer.
Rajiv Rai, VP, Assotech, said, "Seven developers have come together to form a company called Crossings Infrastructure pvt Ltd, and this company works as the development authority to work on the whole area of 360 acres. Within the master plan for the project different developers have been earmarked different areas."
Construction at Crossings’ site may have picked up pace now. But last year saw the project bearing the brunt of the slowdown. As buyer interest dipped, builders decided to reduce prices to an affordable range of Rs 20-25 lakh. Market sentiment and buyer interest in the project may have improved now but doubts around lack of facilities still remain.
Complete infrastructure within its confines- that is the promise Crossings Republik has made to its investors. While the construction of apartments seems on schedule to meet its 2010 deadline, the development of overall infrastructure is far from any kind of completion.
The only visible sign of facilities at the Crossings site was a half completed shopping plaza and golf course. Work on the other amenities like the school, malls & club has yet to start.
The first phase of the project is due for possession in another 8 months and one can only hope that the developers of Crossings honor their end of the deal.
Source: Bloombergutv.com