Vikas Rikhye, Gurgaon Real Estate Consultant and Blogger

• Affordable Homes: Keeping in mind sky-high prices of land in Gurgaon, the price offered seems to qualify the category of Affordable Homes.
• Better Options : The offers provide of One, Two & Three Bedroom apartments.
• Easy Payment Plan: Projects being “Bank approved” have the option of housing loan with EMI repayment facilities .
• Gurgaon Master Plan 2021: Projects falling in line with “current development plans” of HUDA are right choice.
• Landscaped greenery, Security, Club House, Gymnasium & other essential services remain a common factor.

The following are some of the New Residential Projects in Gurgaon:

Uniworld Resorts by Unitech

Just off the NH-8,located on Sector 33 & 48 by the side of Sohna Road offers the options of 1BR+Study 825sq.ft 2BR 1060-1100 sq.ft,3BD+SQ 1535 &1545 sq.ft. Price Starting from (INR) Rs 36.08 Lacks & above.

Emaar MGF

Emaar MGF a JV between Emaar PJSC of Dubai one of the world’s largest infrastructure & Real estate development company and MGF, a well known name in Real estate sector in India, now presents low rise “Emerald Floors” at Emerald Hills in Sector-65 on extended Golf course road Gurgaon.

Offer: Choice of Independent Floors on Two different plot sizes as follows:
Plot Size- 267. sq.yds 3BHK, 3Toilets + SQ
Plot Size-350.sq.yds 4BHK ,3 Toilets, Family Lounge +SQ
Price :Rs 44.40 onwards

Some other New projects:

• Pioneer Urban - “Pioneer Park” Sector-61
• “Tulip Orange”. Sector-69-70
• “Centrum Park” Sector-103

In the current scenario, when companies are offering lucrative incentives & commissions , it is more important to check all the facts about the property/ promoter, than to be carried away by small temptations.

Vikas Rikhye, Real Estate Gurgaon Blogger

With global downturn & liquidity crunch the real estate sector has been badly hit. The situation of Real estate in Gurgaon is no different.In the recent past Real estate sector in Gurgaon is facing the worst possible time.

During the peak time {which was about 2-3 years back} the Developers had overestimated the future requirements of the Real estate & launched a large number of Residential and commercial projects to meet anticipated demand that did not materialize as an effect of global meltdown.

Commercial office space in Gurgaon has been equally victim of circumstances. as the “Projects & buildings” which were launched few years back are getting completed, lying vacant, showing very clear signs of lack of demand.

The rentals for “Commercial office space” in Gurgaon are already down by 30-35%.A recent study conducted on the subject proves that Major /eminent developers are offering over 35% cut on the rentals as quoted 6months ago.

The report further says that due to a huge level of availability, the existing tenant are in process of renegotiating the leasing options on fresh terms & less rentals.

The “Commercial office space” buildings on Sohna Road Gurgaon lying vacant are already giving a deserted look.
The glass curtain commercial buildings on Golf course Road M.G.Road and many others on prime locations of Gurgaon, are also under the grip of rescission.

Under the present circumstances & obvious future downward their does not. seem to be any respite in the situation until the end of 2009.

Vikas Rikhye, Real Estate Gurgaon Blogger

Almost five years ago ,the Government of Haryana had put a ban in Gurgaon,on “Registration” of property falling under the category of Builder Floors/ Independent Floors (eg: Three Independent Floors built on Single plot) & it resulted into the following:

• Sale of Builder Floors/ Independent Floors carried out on GPA{ general power of attorney }, an unsafe property ownership title for the buyer.
• As GPA is not considered to be a legal instrument, the buyers would not get bank finance.
• The Government’s loss of revenue in terms of Registration charges & Stamp duty.

It is understood that after conducting in-depth study in this matter the Government has finally legalized the registration of “Builder floors/ independent floors”, constructed on plots by plot owners in colonies developed by private builders such as DLF,Unitech & Ansals etc. as well as colonies developed by Haryana Urban development Authority {HUDA}

It is further understood that in this recent directive the applicants may have to pay 1% of extra Stamp duty, covering the cost of ” Infra -structure up-gradation”
With this vital decision, it not only provides a sigh of relief to the owners of such properties, who have transacted the purchase on GPA{ general power of attorney }, but it has also generated positive results as following:

• With Registration, buyers of such properties will now become legal owners.
• Availability of bank loans.
• Gearing up/ boost in “Guraon Real estate” as the builders will be encouraged to build more of Independent floors considering the large demand for Independent floors.(with latent advantage of sale purchase of plots, positive improvement in “real estate prices in Gurgaon”)
• Over all benefit to the Government revenue growth.

The real-estate experts feel, that this decision, shall help towards mobilizing positive growth in the present sluggish real estate scenario.

Disclaimer

The Author is a freelance Blogger and real-estate consultant,The readers are advised to do their own research & analysis before taking any action. The author is not responsible for any consequence good or bad . The author is only delivering his views & inviting response in the way of comments/views from the readers.

Vikas Rikhye, Real Estate Gurgaon Blogger

Affordable homes in Gurgaon

In response to my articles ‘Affordable houses in Gurgaon” on March 8th -10th respectively, where on my article dated 8th March I had requested their comments/views/feedback on the subject.

In this Article I am sharing with you some facts about Unitech based on the feedback received from the readers.

As it is understood, 35 years ago, in the year 1974 Unitech entered Civil engineering ,with determination, having a very clear vision set on future. The company kept on moving ahead, with, experience & expertise .

“Each success” of Unitech ,became a pillar for the next. With an aimto improve the quality of life, Unitech laid firm foundation of future.

More than 3 decades of successful activities included the following:

-Power Transmission lines

-Highways

-Residential & commercial complexes.

-Theme Parks

-Indoor stadiums , Hotels & more

The launch of prestigious projects countrywide itself confirms of its integrity & strengths .

Considering the recent meltdown, it is understood that Unitechhas recently launched a “budget friendly” project in Gurgaon by the name of Uniworld Garden-II.

It confirms their slogan “Our customers inspire us, together we are building the future on solid foundations”

 Vikas Rikhye, Real Estate Gurgaon Blogger

Land Prices in Gurgaon In early 2005 the land prices which were quoted @ Rs 10000-15000 per.sq.yd had seen its peak of more than Rs.50000-55000 per.sq.yd by the year 2007-2008. Whereas now in the present scenario more then 35% fall in price seems to have been recorded. The experts feel that more then 25% correction on present prices is still expected in next 4-5 months

This “U -Turn Trend” is visible, in other “Gurgaon real estate” related fields/ activities, as well.

Gurgaon Shopping Malls:  With original booking price of Rs.6000-7000 per.sq.ft, during peak time, the figure had touched the price of over Rs20000-25000 per.sq.ft. As on day the investors of Shopping Malls in Gurgaon feel a fall of over 30% in some cases, with a further correction in coming months. Unfortunately in some of the Malls, the investors are willing to sell on the purchase price.

Office Space in Gurgaon: In the year 2004-2005,In a good “Glass–curtain building” , the rent quoted was in the range of Rs 40-45sq.ft finally reaching a figure of more than Rs 125 per sq.ft by the year 2008 With the recent Melt-down, fall of over45%, has been recorded.

Residential Apartments in Gurgaon : There is a massive correction is being felt in this segment as well. Taking the year 2004-2005, as a base when “Apartments in Gurgaon” were launched at a basic price of Rs 1500-1600 per sq.ft had reached the the height of over Rs 5000 per sq.ft by the year 2008, have suffered a correction of over 40% fall in basic price. And the” New Housing–Projects in Gurgaon” are being launched @ Rs.2800 per sq.ft

Builders and Developers in Gurgaon: The Global meltdown has very adversely effected this segment of real estate as some of the prominent builder are almost at the point of insolvency.

-Even, some of the Prominent builders have put their existing Projects on hold.

-Whereas ,some of the “Builders in Gurgaon” seem to have abandoned their projects.

-Some of the construction sites are giving deserted look. All as stated above has left the investor in the state of fear & confusion

Real estate Agents in Gurgaon -Real estate Brokers in Gurgaon In the year 2005,there had been sudden increase in number of Brokers in Gurgaon ,as every one could see a big boom in real estate with rewarding result.& during the peak time Professionals like Doctors & qualified Engineers had been seen ,adopting Real estate Agent as profession.

But with recent slowdown & recession, this segment of real estate is equally effected & a large number of “Brokers in Gurgaon” have left this profession , while many others are exploring alternate avenues of employment.

In present scenario of recession “U -Turn in Real estate Gurgaon” was inevitable

Disclaimer: The Author is a freelance Blogger and real-estate consultant, The readers are advised to do their own research & analysis before taking any action. The author is not responsible for any consequence good or bad. The author is only delivering his views & inviting response in the way of comments/views from
the readers.

“However, to summaries the past. In anuary 2009,”The builder lobby” had categorical denied the viability of low budget/ affordable homes but after having sensed the demand, they took no time to “Launch affordable homes.”

In the recent past, the “author” has been receiving several phones from friends & clients seeking clarifications, for investment, in new projects, of “Affordable homes.”

• How, some of the builders, who, due to lack of funds have put their ongoing projects on hold , are now are having courage of launching new projects ?
• Some of builders are launching projects in the new sectors covered under “Gurgaon master plan 2021″ where HUDA might take several years from now, to provide basic infrastructure like Roads, Sewer, Electricity & other basics .
• Would the Builders who had to bear the burns of Global Meltdown , be able to deliver .their promises under this financial Crunch ?
• In the present continued negative trend in Gurgaon real-estate,the prices of these “Affordable Homes” projects do not justify to be,as low budget prices.

Some of my friends, even feared it to be a bait, by some of the builders to collect money , to meet the immediate monitory crises.

Since, all this as mentioned above, leaves me in a state of confusion,I ,therefore , invite the readers for their contribution of their view on it.

Disclaimer: The Author is a freelance Blogger and real-estate consultant,the readers are advised to do their own research & analysis before taking any action. The author is not responsible for any consequence good or bad .The author is only delivering his views & inviting response in the way of comments/views from the readers

Vikas Rikhye, Gurgaon Real Estate Consultant and Blogger

The historic Global meltdown has also shown nationwide fall of Real estate prices. After a bubble like boom the bubble bust has claimed more than 30% drop in prices. It is also observed,that some of the builders are at the point of insolvency.Government is strongly adopting positive methods to restore the “confidence of common man” to acquire an affordable home.

Since, in the real-estate market has been hit most at the higher segment, therefore, it is felt that prospective buyers are showing interest in Low Budget houses / apartments, mainly in the range of 30-35 lacs & in some cases even lower.

It is understood from sources that in the month of January 2009, “the builder lobby” had expressed to the media that affordable houses were unviable.

But, after having sensed the market demand, many of Gurgaon Based builders and developers are being seen, launching new Projects , offering various low budget options.

With a most interesting observation, it is felt that, while under the Wave of Recession some of the prominent builders who had put their existing projects on hold , the same builders, now on other hand are launching new Projects , offering various low budget options.

All as stated above gives us a food for thought as to how: “affordable houses which were unviable are viable now”

Disclaimer

The Author is a freelance Blogger and real-estate consultant. The readers are advised to do their own research & analysis before taking any action. The author is not responsible for any consequence good or bad . The author is only delivering his views & inviting response in the way of comments/views from the readers.

This is a guest post by Mr. Saurabh Dhawan of India Medi Treat. You can get in touch with him at saurabh [dot] 3767 [at] gmail [dot] com.

The Article by Mr. Vikas Rikhye is a bitter truth which every Gurgaon resident mall realizes but somewhere doesn’t want to agree that the Retailers in Gurgaon are truly striving for existence. A lot of times while going towards Delhi from my old Gurgaon residence I feel like having a burger and ice tea but I don’t reason being are many, firstly the traffic, secondly the economy (spending Rs.30 as parking for a Rs.20 Burger is scary) and you cant stop your car for five minutes even as the recovery vans can take your cars. These are very basic things but this is what is eating the customer from the malls.

The builders sold the shops in mall at a time when stock market, economy, real estate market all were roaring high which meant higher purchasing power of people and the fact is that people in Gurgaon had good money and were willing to spend for good products. This lead to increased rentals for shops along with a heavy maintenance for upkeep of the mall. But no one was complaining as cash was the king.

Repercussions of financial meltdown on Gurgaon Shopping Malls

Now in post Sub-prime era the things have changed the real estate market has corrected badly, the Stock market is below 10,000 points and the big builders are looking for some shelter. The US sub prime has effected jobs in India, people have been given pink slips and uncertainty is prevailing among people who are in job whether there job is safe or not. This hysteria has resulted in reduced consumer spending and there is no doubt that the next two years are going to be tough for retailers and only the fittest will survive.

The retailers need to re-look into their marketing strategies. While walking through these deserted malls I realized that everyone had one thing in common. SALE yes guys SALE. From 20% to 70%, 50%+40%, buy 1 get 1, buy 2 get 3, buy 2 get 6 and so on. But I thought does their target market really knows it. The answer I guess is no. these malls don’t have heavy foot falls to attract there prospective customers.

I liked the way Kishore Biyani made money on our republic day. The Big Bazaar’s SABSE SASTE 3 DIN 24,25,26 January was a super hit. Big Bazaar advertised heavily from internet, mails, newspapers and YELLOWPAGES and community portals. The guy can surely make people run for money. What he did was buy in bulk and sell in bulk by passing the profits to customer. What was interested to note was that a good proportion of its sales came from its Online portal. Mr. Biyani was always sure that his Online store will be a hit among people in Metros and I guess he was true.

Now coming onto the small retailers I guess the need of the hour for them is to reach their customer desperately. They cannot go in for Signage as it is not affordable, a front page of news paper is too expensive for small to medium retailers but YELLOW PAGES sites( like www.yellowpagesgurgaon.com ) can be a comparatively cheap and effective medium. The customers who shop in malls are generally youth and people working in and around Gurgaon who are generally well read and computer savvy. By advertising there Special offers and seasonal discounts and sending mails to their customers through internet marketers the retailers can easily reach their customers. This is not something new and retailers in cities like New York and Melbourne have practiced with success. This out of the box effective medium can be a good savior for the retailers in the city. As it is said that winners don’t do different things but they do the things differently. Both have to reach the customer but it depends how you reach and how effectively you reach.

Vikas Rikhye, Real Estate Blogger

About four years back Gurgaon shopping malls emerged a “Feather in a cap” in Gurgaon’s progress. Enthusiastic investors & retailers with optimistic vision & positive attitude attracted customers from all walks of life and in no time City center , MGF-Metropolitan & Sahara Mall became most happening place. Delhi shoppers also found a new shopping experience .Besides the swanky crowd, the visitor from neighboring villages & towns witnessed the glory modern shopping.

With visual prosperity, new “Real estate Players” jumped into building of Shopping Malls & the also received massive support from investors, retailers & real estate brokers.Thus all this resulted into mushrooming of shopping malls, besides M.G.Road,it started spreading all over the town including NH-8, Sohna Road ,Golf course Road & even in areas around Nirvana country, where more than eight local shopping markets are either functioning or Markets are giving deserted look.

Mall Fever is over in Gurgaon

It seems that Mall fever is over in Gurgaon as Several malls although they are complete in all respect , are still giving a sad look due to lack of demand and more of space availability. Such vacant malls can be seen not only on M.G.Road but also giving a vacant look on Sohna Road, Ardee City, N.H.-8 as well as on Golf course Road etc.

Why there is a Negative Trend of malls in Gurgaon?

The answer seems to be as following:

Delhi Shopping Malls: It seems that now Delhi Shopping Malls are geared up with larger areas and wide range of products at better prices as a result Delhi shopper is no more interested to visit Gurgaon Shopping Malls with an exception to Ambience Mall which caters to Classes & not to the masses .The credit goes to the strategic planning of the Management who has made Ambience Mall, most sought after place for “Rich & Famous”

Parking Problem: in Gurgaon shopping Malls has given negative contribution for Busy/Serious shoppers.

Reliance Fresh/Reliance Mart/Reliance Trends/Reliance Digital: has stolen the show as far as retail sale is concerned, stores are well stocked with wide range of products matching the consumer needs & budget Having selected the best location, ensuring visibility & enough of car parking, the Management of Reliance Group has proved high skills of management strategies. The success seems to continue having adverse effect on Retailers in Mall

Lack of Advertisement for Retailers in Gurgaon shopping Malls there is no such Platform which enables the Retailers in shopping Malls to advertise about their existence to there Target Audience.

The following source of Advertisements have not contributed for this cause:

• Signage it is not that every Retailer can afford to have its Signage out side the mall.
• News Papers an expensive Media with short life of one day
• News Papers Leaflets : Are thrown away while picking the Newspapers.
• Magazines :People prefer T.V Serials instead of Magazines
• TV. Advertisements: Besides being an expensive, it is seen usually the viewer either change the channel or a housewife rushes to the kitchen.
• Road Side Banners: have a life of 2-3 days and are either wiped away by strong winds

It is noticed by all concerned in the trade that www.yellowpagesgurgaon.com is in the process of creating reasonably good platform of awareness for retailers from Gurgaon shopping malls, who have listed their particulars with this site. www.yellowpagesgurgaon.com is an informative site to create awareness of various “Products & Services” available in Gurgaon.

With my concluding note I would like to convey ” A lot of effort is required by all concerned in the trade to create awareness in the Gurgaon community, about the “Retailers Striving for existence”

This is a guest post by Mr Saurabh Dhawan. Saurabh is promoting medical tourism through his website www.indiameditreat.com

The slowdown in global economy has pushed the medical budgets of the Americans and Europeans towards south. They industry veterans have revised there estimates of inflow of patients into India and they expect it to shoot up. The reasons are very logical. The meltdown has affected everyone.

The banks have been affected badly, the insurance companies which were covering the banks sub prime risks have suffered a severe blow, the people don’t have money to spend high for medical treatment there. I would like to quote this statement by Barack Obama “Computerize all health records within five years. The quality of health care for all Americans gets a big boost, and costs decline” , so the American Government has realized that it has to look for cost cutting measures in order to manage the crisis situation. In a nut shell the very obvious situation is that the people are looking for more budgeted avenues.

 We expect more people to follow suite for medical treatment in India. If we look at the stats we see that India actually comes out to be the most cost effective as compared to Thailand and Singapore with the same expertise and facilities. I think it’s the best time for India to pull up its socks. All the external indicators have fallen at the right place and now all the hospitals and medical tourism companies should be looking forward to market India as a global health tourism spot.

 When I talk about Health Tourism I talk about the Rejuvenation courses in Himalyas, Yoga in Uttranchal, Indian ethnic Spa’s (Eg. Ananda) and of course medical treatment. The problem in India is that we are still not able to market our products well. A good and planned marketing strategy can help us be pioneers in Medical Tourism and the BE THE DOCTORS TO THE WORLD.