Vikas Rikhye, Real Estate Blogger

• Land : Ownership proof of builder
• Project Approval with valid License.
• Approved & sanctioned construction plans
• Past performance of the builder.{ reference of projects delivered in the past}
• Financial Status of the builder { Account Balance sheets for at least last 2 years}
• NOC of dues from Government authorities .
• Banks financing “Home Loan”

Usually , financial institutions like good banks, check the credibility of the builder at their end, but sometimes few important facts are ignored, for the reason better known to all concerned. It is therefore, suggested that the prospective investor should find the fact at his own level by exercising the tool of RTI {Right to information}

For “Real estate updates” log on & subscribe

Also read the related article: check the facts before you invest

Vikas Rikhye, Real Estate Gurgaon  Blogger

With increasing demand , investing in a warehouse is quite a rewarding proposition therefore most of the land owners who have land in aforesaid areas, muster their resources to acquire the permission to build a “Warehouse to rent”.

In the recent past a close market study revealed that some of the Warehouse owners are finding short -cuts, to rent their property, by not adhering to the norms as laid by the authorities & such a practice can lead to serious consequences for the owner and tenant of the property.

Moreover, it is important on the part of prospective tenant to check all the facts about the property as well take a legal/professional endorsement. However in any case , the prospective tenant must check the following documents:

• Proof of ownership
• Status of CLU {Change of Land use}
• Permission for Warehouse
• Sanctioned Plans & Layout
• Completion Certificate from competent Government Authorities
• Clearance from Fire Department etc

Besides the above stated features, while choosing the Warehouse space in Gurgaon, Warehouses falling within the Corporation limits of Gurgaon should be avoided, as in times to come, the area falling within such limits , would be subject to Traffic restriction for heavy transport Vehicles.

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, Real Estate Blogger

Property Management in India, has acquired the status of highly professional field. In the beginning , the scope was limited to Big Buildings or large institutions , but over a span of time it has gained momentum to an extent that individuals are looking for specialized professional agencies who could take up the total responsibility of property management.

Moreover the “Property Management Services” are much needed in the townships like Gurgaon , that has witnessed unexpected overall progress and the where most of the property owners are either busy executives from corporate world, or the owners are NRIs

Besides the rapid change in lifestyle & paucity of time the following factors add on to the need of Property Management Services:

• Sourcing of right person/ services to accomplish different tasks
• Reliability factor of task to be accomplished in a time bound schedule
• Assurance to perfect execution of task
• Renting / leasing
• Real estate trend awareness
• Real estate counseling on matters like Finance, Taxation & Legal issues

On the internet as we see numerous sites claiming NRI Services, but , most effective would be those which are “locally based”, with professional background, having ability & resources to deliver the results in a time bound schedule of commitment.

Vikas Rikhye, Ph. No. 9811081078

A project for those who live in luxury & continue to live in exclusive luxury….

The Hibiscus a Prestigious residential project of Gurgaon , meticulously designed for the elite of society, is ideally located on “Hibiscus Avenue” in Mayfield Gardens, Gurgaon.

It is a blend of Luxury Apartments, Pool Houses & Exclusive villas where the Lifestyle is beyond the words of luxurious living.

The author had an exclusive interview with Vice President., Mr.Neeraj Bhalla ,who was confident of delivering this “Life Style Living” in next twelve months. Mr. Bhalla added that “We don’t only sell the property, we also offer likeminded neighborhood”.It is understood that most of the Sales have been conducted by invitation. The coterie of clients include corporate heads of Multinational companies & celebrities who have been inviting their friends & relations to be a part of “Hibiscus environs”

While Hibiscus was on success ladder, the dedicated marketing support of Real estate Aces like Mr.Ajit Sareen & Mr.Sndeep Chadda added “feather in the cap” of its success.

An area of 14 Acres of land which could take over 500 apartments was redesigned for exclusive life style of about 260 selects.

It was astonishing to know from Mr.Bhalla ,that the quality control & day to day progress of the project, is personally supervised at the site by The CMD & Executive Director, religiously every morning at sharp 9.30 AM.

Although more than 80% units are already opted ,however, a few apartments, A number of Penthouses , Villas are available for “Life style Admirers” to be the Jewels in “Hibiscus Crown”

Concluding , the author is reminded of a saying by a celebrity “Successful people do not do different things but they do it differently”

Vikas Rikhye, Ph No 9811081078

The Hibiscus a prestigious residential project in Gurgaon in the vicinity of Nirvana Country adjacent to forthcoming Hotel Hilton & in a very close proximity to Medicity, Artemis hospital, Amity International School and many other prominent buildings in the neighborhood.

The Hibiscus location advantage adds to its connectivity features as it is accessible to NH-8,MG Road,`Sohna Road within a radius of 3 km.

Promoted by SS Group “The Hibiscus” is designed meticulously to give the eco-friendly lifestyle. It offers a choice of 3-4 Bedroom Apartments, Penthouses & Independent Villas. With the contemporary & modern suitable effects “The Hibiscus” has become most sought after destination of residence for the corporate world.

Mr. Vikas Rikhye, Ph No: 9811081078

While India is undergoing a massive progress in infrastructure development, resulting into overall progress in surface network of Roads & Expressways ,through out the country. KMP Expressway (”Kundli-Manesar-Palwal Expressway”) is one of the prestigious project in Haryana, connecting Kundli, Manesar & Palwal,the, 135.6 km long . KMP Expressway is likely become operational by 2012.

It is understood that s 135.6 km long stretch is divided into three parts of 45 km each. having three major camps at Kundli, Manesar and Palwal & will be supported by three ancillary camps planned at Jassoure Kheri, Badli and Taoru.and expressway will cross national highways, NH-1 near Kundli, NH-10 at Bahadurgarh, NH-8 near Manear and NH-2 at Palwal having a planning of four flyover at places where the expressway will cross national highways.

It would have About 16 overpasses and underpasses at crossings on state highways and major district roads. It is also planned to have more than 32 agricultural vehicular underpasses, over 30 of cattle crossings including 60-61 pedestrian crossings passages.

A very careful planning has been done by the way of under & over passes to maintain the connectivity of villages on both sides of the Expressway. The location of on route railway over bridges, drainage works etc. have been meticulously planned.

According to sources, it is understood that over 2 Kilometer belt on either side would be treated as controlled area, while at the same time the local land owners having 50 Acres of land in the amenity zone of KMP may be permitted {within the frame work rules} to take up the projects like Amusement Parks, Golf courses & logistic parks.

It is also understood` from reliable sources that in coming year, there is a planning to develop commercial Theme townships along this 135 km stretch. These theme townships like Fashion City, Cyber city, Medicity etc .would be supported by well planned residential areas matching International standards. Besides the visible planning , there seem to be lot more of progressive plans in process of planning.

The progressive project of “Kundli-Manesar-Palwal Expressway” would not only, improve the traffic conditions in Delhi and Gurgaon as it will decongest the vehicular traffic of Trucks, Buses & other long distance vehicles but it would reduce the distance of various destinations in Northern India, it being a “important connectivity link between” them.

It is obvious fact that with this progressive growth would boost the confidence of investors, as the “Investor lobby” has already activated its sourcing activities for spotting strategic sites for Hotels ,Motels ,Warehouses,Golf Coerces & other recreational and commercial projects, in the vicinity of KMP Expressway(Kundli-Manesar-Palwal Expressway).

Seeing the future requirements in warehousing sector, ambitious & foresighted entrepreneurs /organizations have started building approved warehouse buildings, in close proximity to expressway network.

The potential tenants for such warehouses are being noticed looking for appropriate storage space, with specific requirements matching the product handled, as there are numerous products demanding different storage conditions.

However, it shall be a matter of concern that prospective tenants should be extra careful in selecting a warehouse as;

• Title of the owner
• Land use {warehouse}
• All Approval/ Permissions
• Abiding by all set norms by the Government

It is strongly suggested that prospective tenants , should take legal opinion, before renting the warehouse premises.

It is further understood that Building plan approval committee grants the permission as defined per rules after the permission for change of land use granted by Director,Town and country planning Haryana

The structural design of the building has to be carried out in accordance with the provisions of NBC and relevant IS Codes, under the supervision of Certified & recognized Structural engineer { All the laid out and prescribed conditions have to be strictly followed, as contained in the Approval document}

The approval letter/ document contains in-depth details and guidelines pertaining to :

• Structure
• Electrical
• Fire Safety
• Water Supply
• Sewerage
• Internal Roads
• Rain Water Harvesting

While construction at site, not only { All the laid out and prescribed conditions have to be strictly followed, as contained in the Approval document} but all the rules, regulation, restriction as laid by local administrative authorities has also to be followed.

It is also understood that after completion of the building the prescribed documents would be submitted to all the competent authorities who would initiate the procedure as per set rules towards, Completion / Occupation certificate

We must understand that Government Authorities have laid out Policies for public interest & planned growth and the same should be followed by every citizen with a mark of respect.