residential project
Showing posts with label residential project. Show all posts
Showing posts with label residential project. Show all posts

Urban Affordable Housing offers Rs 75,800 Cr Opportunity for Pvt Builders

Cushman & Wakefield, in a report along with CREDAI, pegs demand for affordable housing at 535,400 units for homes in the price range of Rs 20-50 lakh in Delhi-NCR, Bengaluru, Chennai, Hyderabad, Kolkata, Pune and and Rs 50-70 lakh in Mumbai (MMR)
Urban affordable housing segment presents a $11.8 billion (Rs 75,800 crore) opportunity for the private sector, estimates real estate consultant Cushman & Wakefield in a report released in association with realtors body CREDAI.


The consultancy, in a report released at NATCON 2015 held in Istanbul, pegs demand for affordable housing at 535,400 units for homes in the price range of Rs 20-50 lakh in Delhi-NCR, Bengaluru, Chennai, Hyderabad, Kolkata, Pune and and Rs 50-70 lakh in Mumbai (MMR). "This spells immense opportunity for the private sector to explore urban affordable housing in India through various models, which can be profitable for all stakeholders," said Sanjay Dutt, Executive Managing Director, South Asia, Cushman & Wakefield.

Urban affordable housing has long been neglected in India due to various reasons such as high land prices, delays in getting approvals and low margins in the segment. "Now with renewed focus from government, we expect this segment to gather momentum going forward," Dutt added.

Real estate developers are also well aware of the opportunity in this segment, with around 7,000 affordable units launched in the top cities in the June quarter, an increase of 320% on a quarter-on-quarter basis. Around 60% of the total units were launched in the National Capital Region (NCR) alone, comprising Delhi, Gurgaon, Noida and Faridabad, during the June quarter.

The overall new launches, however, rose a tepid 14% in the April-June quarter, compared to the previous quarter.

The central government is placing strong emphasis on the 'Housing for All by 2022' initiative lately. Getamber Anand, President, CREDAI National, feels the residential market can offer a multitude of opportunities if innovative housing models that would address challenges of specific target segments are adopted. "The affordable housing segment that is now backed by a strong mandate of the central government currently witnesses a demand-supply mismatch and it is imperative that public-private-partnerships be given an impetus to achieve desired scale," he added.

Private real estate players have shied away from this segment due to low margins. "Incentivizing the sector by making land available, reducing raw material prices, providing additional Floor space index (FSI) for such developments, etc, are bound to give a thrust to development of low cost housing units," said the report.
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Luxury offerings in Dharuhera

Dharuhera in Haryana is fast emerging as the next satellite city with a large number of affordable and luxury projects coming up in the area. It is an industrial estate located on both sides of NH 8 and has many large and popular companies such as Hero MotoCorp, Delphi Automotive Systems Pvt Ltd, India’s biggest dairy plant, Amul, Harley Davidson, Gillette, Bausch and Lomb, Kajaria Ceramic, Saint Gobain, Ray-Ban, United Breweries, Lumax Industries Ltd, Dharuhera Pharmaceutical Pvt Ltd., Rico Auto Industries, Sehgal Paper Mills, East India Synthetics, Indian Oil Corporation and many more are fully operational in this region. Over the past few years it has witnessed huge demand for residential, commercial, social, and entertainment real estate due to some mega infrastructure projects in the vicinity.


Big developers such as Raheja have launched projects with a considerably good response from home buyers and investors. The project which will stand out among the rest and provide a luxurious living is Raheja Oma – The Tallest Residential tower in Dharuhera, with over 40 storey’s, it comes with multiple residential options in highrise and low-rise residences in sizes of 1,2,3,4 BHK condominiums and penthouses. Oma has been launched keeping in mind the need of the real estate market of Dharuhera providing a true value world class housing in the heart of the Japanese Multi-National Industrial Township. Oma has signature residences in the multi-billion dollar corridor for the upper crust. It is an ideal residential destination for industrialits, directors, CEO's and senior managers of these industries and many others in the vicinity who deserve fine living.

A marvel of sophisticated technology, an achievement of modern day engineering every home at Oma is for the discerning who prefer to stay amongst the clouds with commanding views of the pristine landscape at the estate. Adding to the luxury there will be a skydeck and Infinity pool on the 36th floor. The project is designed by internationally acclaimed Lessard Design, USA, architects of Trump Parc and Trump Plaza. The structure design and MEP is by Meinhardt, Singapore, designer of Dubai Mall, Marina Bay Sail and and Financial Centre.

Also worth mentioning is Raheja Highway Arcade which is ready for delivery. It’s the first organised shopping complex in the area with a ready consumer base from everyday highway commuters to daily convenient shoppers. This is planned through single-point provision of a host of facilities and services which include courtyard style mixed usage development, open air convenience retails including restaurants, cafes , entertainment thrills, banquet hall, large food court, banks, ATMs and financial institutions coupled with efficient and cost-effective quality office spaces. Located in the heart of the city almost at the intersection of NH-8 and NH 71-B it is surrounded by a multiple residential and huge industrial hub.

Some of the forthcoming mega infrastructural projects that are responsible for the development of the town include the Delhi-Mumbai Industrial Corridor (DMIC), Manesar Bawal Investment Region (MBIR), Rapid Rail Transit System (RRTS) connecting Delhi-GurgaonManesar-Dharuhera-RewariBawal-Neemrana, and India’s first defence university -Indian National Defence University (INDU).

The Delhi-Mumbai Industrial Corridor Project is a state-sponsored Industrial Development Project of the government of India. DMIC is now attracting the attention of investors across the world because it is a unique model for industrialising a country. Experts say that DMIC has the potential to attract more than $100 billion in new investments while value of land along the corridor would multiply manifold. When complete, DMIC will be the biggest industrial zone spanning the length of the western flank of India, encompassing six states, with “smart cities“dotted along the length and breadth of this industrial corridor. The backbone of the project would be the Dedicated Freight Corridor that would cut the logistical costs of manufactured goods to make it the lowest in the world and also would provide employment to millions. This will naturally lift the prospects of Dharuhera and make it a strong competitor to Gurgaon in industrial growth and real estate development.

RRTS (Rapid Rail Transit System) between Gurgaon, Manesar, Dharuhera, Rewari and Bawal, the elevated highway from Delhi to Jaipur and the highway from Kundli to Manesar to Palwal gives it a added advantage in terms of connectivity.

Dharuhera is highly preferred by investors from Delhi and Gurgaon because of its affordability. There are ample schools, entertainment and healthcare facilities within the town. Moreover, the town appears to be a prospective residential destination from buyers from the neighbouring regions as well, including towns, such as Rewari and Bawal. Buyers consider this peripheral town of the National Capital Region for its connectivity to Gurgaon along with the lifestyle that it offers.

The prices have been increasing since the last five years and it is expected to increase in the future too. In next five years Dharuhera is likely to see an appreciation of 20% to 30%.

Dharuhera has also got direct access from NH-8 on one side and the 75-metre wide Dharuhera-Bhiwadi-Alwar Highway on the other. This makes it a place with great potential to become the Capital’s next satellite city.

Source: HT News
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Buying a New Home? How is the location?


For a real estate project to prosper and sell like hot cakes, all it requires is the advantage of location. When one steps out to buy property, it is the connectivity at the foremost that anybody looks forward for. How far or how near is the local market to the new house, is there a medical facility nearby in case of emergency, how is the area as a whole (developed or developing), which school/college is nearby. There are a lot of queries associated with the home buyers regarding this issue. 

Some of the popular options like Microtek Greenburg, Parsvnath Exotica and Ambience Creacions in Gurgaon and La Tropicana in Delhi have the advantage of plush location. Let us find out the connectivity scenario of Gurgaon in these projects:

Exploring projects of Gurgaon 

Gurgaon is the millennium city bursting with huge opportunities to expand even further. Its posh localities include the golf course road of which Parsvnath Exotica is a part. Just 20 minutes drive away from the IGI airport stands the mighty Exotica project that boasts of 27 acres of land with 84% open to greens in sector-53. NH-8 lies next to the project’s sector road connecting in just few minutes. That’s not all. There is a proposed rapid metro system that lies opposite to the project. 

Microtek Greenburg in sector-86, New Gurgaon is also wealthily connected to various amenities. There is NH-8 and a proposed metro station lying closest while the northern periphery road is five minutes from here.  IMT Manesar just lies next to the project with Dwarka and KMP expressway also in the close proximity.   

Sector-22, Gurgaon is again a location that is ideal for any residential project to prosper. One of the main reasons for this is the Ambience mall nearby. The value of the property shoots itself with such a landmark in close proximity to the project Ambience Creacions. 

Source: WordPress (Buying a New Home? How is the Location?)
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