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 Blogger and Real Estate Gurgaon Consultant

After feeling the heat of recession ,the concept of “Assured Returns on Investment in Gurgaon” is gaining momentum , that shows the signs of market revival The investors having experienced the results of rash/short term investment, are now looking at safe & long term investment plans.

The properties rented to Multinational companies {MNCs} & Banks have become targeted investments .The investor now seems to settle for lesser returns as compared to earlier, but want “Assured Returns”.

A large number of investors are finding their destination on Sohna Road Gurgaon, where the presence of companies like Lenovo, Xerox, Global Insight is already being felt & brands like , Reebok, Rockport, Levis, Puma are about to show their presence. HDFC Bank on Sohna road is already a land mark.

Eateries like Wimpy, Cafe coffee day, Costa Coffee, Papa Johns, Danachoga are going to be amongst Kwality walls & Cream bell .The “shopping scenario” on Sohna Road is expected to undergo a big change in coming future.

As a result the rented properties on Sohna road are available on 7% to 9% Assured returns. The investors are increasingly getting interested as they can see the facts on the ground & are not left to imagination.

The trend continues to be positive for the following reasons:

• Gurgaon a hub for MNCs: Offering ideal working environments , Gurgaon, has become a hub for MNCs including BPOs & KPOs in Gurgaon.
• Gurgaon Properties are having a wide range of choice in Villas, Luxurious Apartments & Bungalows, as the prominent builders /developers like Unitech/ DLF are delivering the end product very close to international standards , having a positive scope of appreciation.
• Assured Return on Investment: In commercial sector, the properties are being offered on lucrative assured return basis as compared elsewhere.
• Close Proximity to IGI Airport: Gurgaon being in NCR {National Capital Region} & having close proximity to International Airport, has its own added advantage.
• NRI Services in Gurgaon: In Gurgaon a number of professional companies are offering their services to NRIs in the field of **Facility Management, Event management , Security Management & other essential services, bringing a better comfort level to NRIs
• Gurgaon Lifestyle : With existence of Golf courses, Modern Hotels, Multi-cuisine restaurants, Clubs ,Shopping malls, Gurgaon has placed itself, at a higher pedestal of lifestyle.
• Hospitals in Gurgaon:. Specialty Hospitals like Paras, Artemis, Forties, Max & Medicity not only attract medical tourism in Gurgaon but also reassure of the Healthcare facilities in Gurgaon, matching international
• Commuting Comfort: Ideally located on NH-8 with eight lane express highway & connectivity to Delhi by Metro by January 2010 brings Commuting Comfort level for Gurgaon.

Factors as stated above & Master Plan 2021 make NRIs & other investors “Gurgaon” as a long term investment destination.

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, Property Consultant and Blogger

Investment in Real Estate Gurgaon is taking a very interesting turn. Despite the fact that in a very recent past the Residential properties in Gurgaon are showing positive signs, yet the investor in Gurgaon are seeking opportunities to invest in the properties having an advantage of “Assured Return on Investment” & this trend of investment seems to be picking up.

The concept in definite terms gives a comfort level to the investor but at the same time, the investor has to be very careful while investing & should keep the following cautions in mind:

Check the facts before investing:

About builder:

• That the Builder should have a good track record.
• The property offered should have all requisite sanctions, License and permissions from the competent authorities.
• That the property should be free from all kind of claims .mortgages and encumbrance.
• That the building in which property is offered has all the required completion & occupation certificates.
• That if required proper search report should be obtained from a legal expert

About the occupant:

• That the occupant has proper financial stability.[ As it has been observed in the past that some of the IT companies just disappeared due to lack of finance/orders} However it is safe to take expert opinion, who can furnish. the fact about the company/occupant after its findings.
• That terms of the Lease agreement should be carefully read & understood {legal opinion required}
• That the Lease agreement should be registered at 1st place & the Lease agreement should be registered subsequently as well.
• That there is sufficient “Lock in Period” to cover the risk factor.
• That in case of Retail outlet, pleas ensure that there is sufficient footfalls to ensure the existence/survival of the occupant in terms of profitability{Out source an agency to give its report}
• That the occupant is no where close to insolvency/bankruptcy

About the Individual Seller :

Beside the afore mentioned points in case of an individual seller the following points should be considered:

• That property is not under any family disputes.
• That there may not be any Third-Party claim.
• That there may not be any Silent Agreement.
• That the seller in the past has not executed any POA {Power of attorney}

That in case of POA transaction the original owner should be alive.

Besides as stated above please ensure that dealing should be conducted thru reliable/reputed Brokers & with the consent of legal experts. How ever, it is felt that “Options of Assured Return on Investment on Sohna Road are better as compared to “Options of Assured Return on Golf course road & MG Road Gurgaon.

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, Realtor and Gurgaon Real Estate Blogger

Real Estate Brokers in Gurgaon, during peak time, had booked in sales over 60% of Commercial office Space on Sohna Road for the investors in Gurgaon at the rate ranging Rupees 3500- 4500 per sq.ft. Remaining 40% was left with the promoters. These commercial projects on Sohna Road are now nearing completion & are ready for leasing.

The prevailing rentals Commercial office Space on M.G. Road.& Golf Course road are ranging between Rupees 75-85 per sq. ft. With the leasing rates as stated above, acts as an opportunity, for the Sohna Road investors, to offer lucrative leasing rate as low as Rs.40-45 per sq.ft.as it brings them almost 12%+ return over investment.

Since the balance of 40% of Commercial office Space has been still with the promoters, therefore, they are applying all marketing techniques/strategies to recover at least 15-20% more rental than being offered by the broker lobby. It seems that this is ,all because, by soliciting higher rental, the promoter, would be able to sell its balance 40% of stock at higher selling price ROI {Return on investment} basis. As per prevailing market practices the prospective investor is quite happy with 8.5% ROI & in the bargain, the promoter yields more profit on selling Rented Property on Sohna Road.

There seems to be a “Tug-of-war” over leasing rates between Broker lobby in Gurgaon & the Promoter as both are competing to achieve their desired motives .Under the circumstances the Broker-Lobby seems to be a better option to avail lesser leasing rates compared to the leasing rates offered by promoters.

Moral of the story :Real estate Brokers a better option for leasing on Commercial office Space on Sohna Road Gurgaon

Vikas Rikhye, Real Estate Gurgaon Blogger

Property on Sohna Road Gurgaon

With overall growth in Gurgaon , ” Properties on Sohna Road” were awaiting appreciation .As during the peak time, the Real estate developers in Gurgaon had launched a large number of Residential and commercial projects which over a period headed towards completion.

Residential Property on Sohna Road Gurgaon
With of global meltdown, about three months back the prices/rentals of properties were seen sliding down. The investors seemed to have lost confidence; new user/end user was in a confused state, expecting a further downfall.

However, now, the conditions seem to be changing in the recent past because of following:

• With successful launching of new projects by eminent builders like Unitech, it has re-imposed the confidence of actual/end user on BSP {basic-selling price}.
• Affordable homes, are also being advertised on Sohna Road by some of the upcoming builders.
• It is felt that with Government’s approval on Builder/Independent floors{GF+2 Floors}, some of the ambitious/reputed builders are launching “Affordable Houses” on Sohna road.
• It is also noticed that over a period of time the patience of investor also got exhausted as there has been no visible extra gains, while market condition had settled on a genuine price line.

Now since there seems to be a stability factor & the buyer also has varied options therefore the market has started moving towards a positive trend. The projects on Sohna road mainly. Park view city. Vipul greens & Orchid Petals are already showing signs of positive growth in sale/ rentals.

Commercial Property on Sohna Road

With projects of some of the companies like, Vatika ,Spaze, ILD are nearing Completion & it seems that the promoters have themselves analyzed the market conditions as a result they are offering best prices in terms of cost/leasing. Effective strategy of promoters by offering lower rentals of commercial property, as compared to commercial office space at “Golf course road” & “M.G. Road” has lured the MNCs to find their way on Sohna Road

For more details the Author can be contacted on the following address

Co-ordinators

#1.Local Shopping Complex, Park view city-1
Sohna Road Gurgaon 122018 (M) 98110-81078

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