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.

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, 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

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

“Metro dreams coming true” for the residents of Millennium city of Gurgaon, as it is understood, that efforts are being made to commission Qtab Minar - Sushant lok streach by Jan.2010.

It is further understood from reliable sources, that the:

• On Gurgaon portion of Metro stretch of 7.3 km, “Station Buildings are almost ready except the final touches like painting of exteriors & completion of entry/exit structure”.
• The elevated line is ready with parapet & railings.
• On stretch towards Qutab Minar-Delhi , there is already a speeding up of work and by June 2010 the line will be extended to Central Secretariat.
• Tentative date of completion Qutab minar - HUDA City Center January 2010.
• Tentative date of completion Central Secretariat. - Qutab minar June 2010.
• The Delhi-Gurgaon Metro project is expected to complete with a estimated cost of INR 3,678 Crores & would help over 1.8 lakh commuters daily.

Metro impact on Gurgaon Real estate : All the points as stated above ,are going to have a very positive impact on the real estate in Gurgaon. Moreover, it is felt that areas of South city-1,.DLF-hase-2, Sushantlok etc are expected to record manifold increase in property prices .

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.