Vikas Rikhye, Real Estate Blogger

As it is apparent to all that the Residential segment of real estate in Gurgaon has shown a tremendous growth in past few months .Earlier, most of the project were being promoted & dominated by companies like DLF, Unitech & Ansals, leaving hardly any scope of improvement , in terms of quality of construction and amenities , matching international standards.

Strategic location of Gurgaon on NH-8,close proximity to IGI Airport ,supported by the inflow of MNCs and Corporate word, it became a favorite destination for FDI &International players in the field of real- estate.

In the process, “Extended Golf Course Road” in Gurgaon” found a niche to be a prestigious address as companies like Emaar MGF, Ireo, Pioneer offered integrated townships. Competing with each other, “each one” ,with meticulous and innovated planning, offered wide range of apartment matching a lavish life style. Thus , the “Extended Golf Course Road”became “1st Choice” of NRIs & Corporate world.

Since these carefully planned townships have aimed a balanced growth of infrastructure, therefore, the development will offer the residents, “Extended Golf Course Road” “Extended Golf Course Road” a unique mix of features that include Security, Education, Healthcare, Shopping & Leisure.

Timely delivery of the committed project by developers would add significant prestige to the area.

Vikas Rikhye, Real Estate Blogger

The real estate market in Gurgaon is undergoing a dualistic symptoms in Residential and Commercial segment
While the residential real-estate market in Gurgaon has experienced an upward trend in past two months, the market growth and rapid increase in prices has set its own record. Whereas , on other hand the commercial segment of the same market is showing downward trend in consistency.

The prices of residential apartments on Golf course Road, Nirvana country , Sohna Road etc have registered an apparent increase of more than 20%. As the new projects launched by the some of the builders such high basic price ,that has given an automatic boost to the existing ready to move apartments.

The land prices in DLF ,Sushant lok & South city-1 have experienced rich gains. The prevailing prices of prime locations in DLF have crossed 1.5 lacs per sq. yard & Sushant lok 1.25 , South city-1 1.10 respectively. HUDA Sectors are following the flourishing pattern .Since in the sectors covered under Master Plan 2021, there is hardly any scope of plotted options, therefore, foreseen scarcity of land has generated upward trend.

With all the witnessed prosperity, in Residential Apartments and land ,the commercial sector has become victim of circumstances because of unplanned growth & surplus supply of Commercial & IT Projects. The commercial projects on Sohns Road are already giving a gloomy & idle look. The commercial projects on Golf Course road are offering massive reduction in Rentals as compared to the Rentals in the past. New IT buildings in Udyog Vihar are offering lucrative Rentals on compromising terms despite the locational advantage.

It seems that not only the over supply of commercials in Gurgaon has affected the prevailing market conditions but Surplus of commercials in NOIDA have shown its repercussions on Gurgaon, as in NOIDA the rentals of commercial office space have gone down as low as Rs25-30 per sq.ft.

However, it is strongly assumed that while Residential property in Gurgaon will still continue to appreciate at the same time the Commercial property has to undergo undefined setbacks.

Vikas Rikhye, Gurgaon Property Consultant

Investors move to Manesar the “New Gurgaon”

Once Gurgaon was considered to be a small & sleepy small township, on the outskirts of the National capital city of New Delhi.

However in last two decades, it became a favorite destination for MNCs, IT/ITES, because of the city’s close proximity to Domestic/International Airport & quality of real estate development by companies like DLF/Unitech coupled with encouraging government policies thus, it has witnessed a major real estate boom for the last few decades.

In the beginning the real state growth ,though rapid yet consistent, were the Developers delivered the quality project {Both Residential & Commercial}in a time bound schedule.

Everything went well, till the time the real estate Gurgaon ,caught sight of the greed of Investors/ Overnight born builders, who are looking forward to dig high profits, and considering the high purchasing power of existing population of city, the Builders / Brokers have given a puffy boost to the real estate prices in Gurgaon ,leaving no place for actual user or a common man. Some of the Builders in Gurgaon have driven the real estate prices to suicidal heights damaging the “real estate segment” itself, as this unreasonable & exorbitant price rise will kill the demand.

It is felt that considering the present real estate scenario, the actual user/ investor are moving towards IMT Manesar , which is just 15-16 away from Rajiv Chowk /Mini Secretariat of Gurgaon.

Despite the fact, that IMT Manesar enjoys the advantage of being on NH-8 ,it is also observed that several housing project are already coming up were builders like DLF have already initiated the construction of affordable housing.

Moreover the progress of Manesar is supported by several housing project of HUDA Sectors in the neighborhood, covered under Master Plan2021.As a result Manesar & its neighborhood is now being termed as “New Gurgaon”
The fast growing visible in and around progress & DMRC proposed Metro project further strengthens the investor’s confidence.

Vikas Rikhye, Real Estate Gurgaon Consultant

IMT Manesar situated on NH-8, approximately 16-18 Km from Gurgaon, is likely to be the future I.T .Hub of “New Gurgaon”.

The “Industrial model township of Mansar” a very well planned township promoted by HSIDC, meets international standards & is already being patronized by companies like Honda Motorcycles& Sooters India,Hero Motors Limited,Samsung Telecommunications,Denso Haryana,Maruti Suzuki,Baxter India,Mistibushi Electricals & many more of international repute.

Considering the potential & future growth, under campus development scheme,“Haryana Industrial and infrastructure Development corporation” {HSIIDC} had initiated to develop a technology park for “Information & Technology” in sector -8 Manesar, & permission was granted to about a dozen of companies as under:

1. Anant Raj Industries Limited
2. Vigneshwara Devalopers Pvt.ltd
3. HCL Technoparks Limited
4. A.N. Buildwell {P} Ltd
5. Primerose Projects {P} Ltd.
6. Arora Udyog Limited
7. Sapoorji Palloonji and co. Ltd.
8. Rishiraj Realtors {P} Ltd.
9. Sofed Retailers {P} Ltd
10. Agilent Technologies
11. Galileo India {P} Ltd

With 10{Ten} Acres of land was allotted to each, following the policy, 11 planned towering structures would come up in one campus with a permission to raise 15 storied buildings of maximum height.

It is understood from sources that under the current policy the companies have been allowed to construct the residential facilities on 10% of area & 4% of area for commercial purpose with 2% for recreational use as to make it self contained complex for the employees.

The complete progress is being monitored by a high level committee to closely monitor the work in progress.

On a recent visit to the site the author witnessed a remarkable progress on the construction sites of Anantraj & Agilent Technologies while others are also striving hard to meet the targeted dates { To be continued………………..as Manesar Part -4}

{E.&.O.E}

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Vikas Rikhye, Gurgaon Property Expert and Consultant

Although it has been tough fight, to retain Congress Government, yet the party has paved its way to retain majority.

Considering the Lok sabha election 2009, a clean sweep was expected by majority of congress men, but sudden strong emergence of INLD, proves the strength of Democracy in India.

In a way all that happened seems to be a right for the people of Haryana as with this marginal success, the congress party, as it forms the Government would be extra careful in making decisions for the progress & benefit of the state.

Moreover Real Estate scenario would improve further as:

• The Government gets the strength of continuity in its existing rural & urban housing & infrastructure programs.
• A stable Government can ensure of better law & order, resulting into manifold economic growth.
• A fairly strong opposition, with positive contribution, can help the Government as, in “corrective measures”

We all hope of a better future in the hands of our elected, responsible & progressive members.

Mr Vikas Rikhye, Gurgaon Property Consultant

The owners of “Independent floors in Gurgaon” had a sigh of relief, with the news that “Government of Haryana ,has finally allowed the Registration of Independent Floors”

It is understood from the sources that on Monday evening, the Haryana cabinet gave its consent to amendment in the act related to the Registration of Independent floors. It is further understood that fresh notification in this context would be issued within a week’s time.

Besides the relief to the existing owners of Independent floors, this news also gave a boost to the confidence of prospective investors of Independent Builder floors.

It has been a good beginning for Builders & Developers who have recently been promoting the concept of Independent Floors in Gurgaon

For further details please fill the enquiry form:

Vikas Rikhye, Real Estate Consultant, Blogger and Expert.

Real estate Industry in India besides having its apparent significance in the national economy, also has latent significance of being one of the largest job provider from a laborer to high ranking professional executives from engineering ,finance, marketing and many other economy related fields.

The real-estate industry which is playing a very crucial role in development of infrastructure had been victim of recent slowdown under global recession, therefore, it becomes imperative on the part of government to extend maximum relief in terms of taxation and offer incentive for investors to gear up the situation towards positive growth .

Since Housing industry constitutes a large segment of, real estate in India, therefore, government must consider rebates & incentives to strengthen investment opportunities by prospective investors.

It is understood from sources that to encourage people to invest in housing sector “Confederation of Real estate Developers’ Association of India”[CREADI] has suggested the government to increase the deduction on interest paid on self occupied residential house/property .It is further understood that CREADI has also suggested the measures, if adopted then effective interest rates on loan of 20 lakh for 20 years may come down to 6.95% from 9.25% and these measures would act as tools for achieving tha target of affordable housing.

Tax rebates and incentives in realty sector will have a positive impact on the overall economy.

Vikas Rikhye, Blogger and Gurgaon Property Consultant and Expert

“Housing Loan in India”

With global slow down & economic recession the real estate in India had experienced a downward trend. Although in the recent past there has been positive correction to the tune of 20-25% + , but this does not seem to be enough to build the actual user’s confidence to invest in the housing sector. A stable government in the centre definitely provided a sigh of relief, but all the hope is focused on the Budget 2009-2010.

It is expected that Budget 2009-2010 may provide cheaper housing loan, more income tax rebates on interest payment.

It is suggested that considering housing as basic need, the housing loans should be made available at 5-6%, while for economically weaker sections the interest rate should be reduced further to 2-3%.It would be much appreciated, if the government considers to increase the income tax exception slab for interest payment on housing loan to 2.5 lakh. A hike in standard deduction on rental -housing may bring relief to concerned segment of society.

Moreover, as housing being in priority sector, the government should consider it to be a part of infrastructure development & provide to the real estate developers with incentives to increase the investments in real estate to achieve the social commitment of “Affordable Homes “.

In the opinion of some experts that since the real estate sector has been worst hit, therefore, the recovery process would be much faster, if there is a boost in the housing sector & growth would automatically follow in commercial & retail segment.

A moral responsibility demands from the builders & developers, a commitment, to deliver Affordable Housing by reducing their profit margins.

Even a best government in the world can not give desired results for the benefit of masses unless there is a “commitment of support” , by all concerned agencies involved…

Keeping in mind “Economic growth with social justice” in housing sector. the gap between “have & have not” should reduce to 0%

Let us hope that soon, we achieve the dream target of Affordable Home for every one in “Our Shining India”

 

In a developing township the growth rate of all around happenings is at such a fast speed that it takes time to, arrest the problems which could not be envisaged at the initial stages but they can be only figured out after actual happening

With the recent development in district administration the scenario seems to be on change with positive inputs.

Now, since Gurgaon has a team having a blend of efficient administrative heads who have in front them, examined and analyzed status of infrastructure related problems, & moreover, it is felt that Administrative nucleus is determined to take positive steps to eradicate the problems with long term solutions.

The positive steps have already been initiated in priority fields including:

• Power shortage in Gurgaon
• Water Shortage in Gurgaon
• Roads & Traffics Reforms
• Law & order in Gurgaon

From reliable sources it is understood that the District Head of Gurgaon has said that “As improving infrastructure like road network, power & water supply in Gurgaon is a matter of priority, therefore, the laxity on the part of officers will not be tolerated”.

With stable Government in the centre and an effective, efficient & determined local administration ,Gurgaon would be heading towards the path of glory.

Vikas Rikhye, Real Estate Blogger and Gurgaon Property Expert

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.

Growing demand of Studio Apartments in Gurgaon ,calls the attention of Prominent Builders in Gurgaon to cater the needs of this segment of Affordable housing.

“A Studio Apartment also known as a Studio Flat is a self contained spacious room consisting of a living and sleeping area having an advantage of kitchenette & attached bath, is considered as efficient apartment, designed as a residence of one or two persons”

The Studio Apartments have the following distinct be:

• Like minded Community living
• Space/ cost effective
• Low maintenance cost
• Secondary property for short/long visits

The concept of Studio Apartment is picking up very fast amongst the following:

• Working women
• Students
• Middle cadre Single executives
• NRIs [Secondary property for short/long visits]

To invest in Studio apartments, it is becoming a favorite option for investors who wish to make small investment in residential property, for rental returns.

Since Unitech and DLF are the “Trend Setters” & if they take an initiative of introducing Studio Apartments in their future projects, that will not only help in meeting the existing demand, but it would also motivate other developers in the market to Follow the set trend to meet the increasing demand of future as well.

A sizable inflow of Studio Apartments, would give a big respite to the existing & Future demand in segment of Affordable housing.