Mr. Vikas Rikhye,Realtor and Real Estate Blogger

Will the Dreams really come true…………………….

The master plan 2021 has earmarked 58 new Sectors covering over 14500 hectares of land as Residential Zone which includes a very large segment for Malls and commercial space.

There is a wave of happiness & prosperity with the implementation of Gurgaon master Plan 2021 as the original land owners are the 1st beneficiaries to get the best prices for their land from private Builders & Promoters thus bringing them prosperity overnight resulting into Swanky Cars parked in place of cattle & cows.

The common man for a with a ray of hope is looking for a niche in this Master Plan to own a small dwelling unit for his dreams to come true.

The Private Builders can envisage a heavy windfall of profit arising out of land acquired by them at right moment and the right time, as they are already being offered more than 10 times of their purchase price by the New Players in the Market.

According to sources, Group housing projects with total area of more than 490 acres have been granted licenses & hundreds of Licences are awaiting approval ,where some of them have been issued letter of intent (LOI).The sources add that more than 600 licences are including commercial projects, are under consideration.

*Some of the private builders and promoters have already started booking Apartments with a Price Tag of 2300-4500 plus per sq.ft.( the hidden cost of Car Parking ,PLCs etc being extra. On visiting the sites , there are no encouraging signs of developing the Basic infrastructure .

The existing Township of Modern Gurgaon is suffering from acute shortage of Power Supply & lack of Basic infrastructure having Sky High prices beyond the reach of a common man.

A common man still hopes for a small dwelling unit for his dream to come true………?

Mr Vikas Rikhye,Realtor and Real Estate Promoter

The History of Pre launch goes as back as about four years that is late 2004, when the real estate business was about to “Take off’. Some of the masterminded Broker Turned Builders (BTBs)wanted to enter the real estate market as New Players for New Real Estate Project.

Having a basic support of the large client/investor-base & Fellow Broker Network they designed a scheme to raise funds from profit hungry small investors from the market with a very clear objective to generate interest free money to implement the project.

Usually in real estate the word Pre launch means that the Builder/ Promoter has purchased the land on which a project is to be developed (& in some cases, the builder may not have the possession of the land, he might have an agreement to sell/collaborate with the owner of the land).

The promoter/builder offers to sell the property at discounted price (directly or thru Broker net-work) before the formal launch.

It means the following:

• At this stage Regulatory, legal and formal Government approvals are awaited.
• Land title might not be clear.
• Due to some other Legal reason its Formal Launch can not be done

It is also undermined that Builder instead of utilizing his own investment resources, is trying to raise interest free monetary reserve from investors, to pay off the Land owner Govt .fees, Initial infrastructure/construction cost etc.

Many experts feel that there is no wrong as the investor is aware of the risk involved.

In many states pre-launch bookings have been banned to Curb the malpractices by dubious operators. It is also understood that the Promoters /Developers have been banned to release advertisements about projects that do not have necessary approvals.

It is noticed that “Reputed Real estate companies” have never launched any of the luring Pre launch schemes.

The Pre-launch fever started spreading in other part of Northern including prominent towns like Amritsar, Patiala,Luhiana,Japur,Bhewadi,Neemrana,Alwar,Rudharpur and many more are under its grip.

While many of the smart investors made a quick buck at the same time where “Fly by Night Operators “have disappeared or Builder/ Promoter has failed to deliver the project, many of the victims are either running from pillar to post for refund or some accepted it as a bad luck/wrong decision.

Mr Vikas Rikhye,Real Estate Blogger

Gurgaon Progress/ Prosperity vs Common Man (The CM)

Someone has to monitor the progress/ growth of this New Township of Gurgaon in more balanced & Planned manner having Prime focus on the following:

• Housing : While Prominent Builders are competing with each other in offering Luxurious Villas & Apartments with a price tag ranging 50 lacs to 2.5 crores and above leaving no scope for a common man to even own a simple shelter, as the uncontrolled land prices are much beyond his means.

• Education: The most modern education systems are being introduced in best of institutes finding their place in Gurgaon, making Education a luring business but what is in store for a child who is studious but does not have resources.

• Health care :With appearance of well known expensive Hospitals & Medicity, remarkable progress is noticed , awaiting the Financial boom from “Medical Tourism”. Yet ,hundreds of poor patients are left to their fate for the want of resources.

• Local commuting/Transport: Speeding Swanky Cars reflect of an affluent culture prevailing all around, forgetting the basic need of a humble commuter who is the one of the pillars of today’s Glittering Gurgaon.

Time is warning us that we are not far away from the crucial stage of “Haves & Have-nots” ……………… which can be disastrous for the society.

Mr Vikas Rikhye,Realtor and Real Estate Blogger

Mushrooming growth of shopping malls in Gurgaon creates a question mark in the mind about the negative future of the shopping malls in Gurgaon.

In NCR Gurgaon was one of few first Towns to witness the modern trend of Retail selling & Multiplex culture.

The excited youth and fashionable shopper found their destination at MGF Metropolitan & DLF City Centre ,While moderate & price conscious found their place in Big Bazar in Sahara Mall . Stylish day today shopping got attraction at Spencers and specialized fashion shopping found its place in Grand Mall.

DT and PVR Cinemas attracted people from all walks of life. While on one side one could see elite & hi fashion crowd at the same time one could also see escalator-shy rural crowd looking dazed at modern shopping glamour. Making it most happening place.These Malls were attracting crowds not only from Delhi & Noida but also from distant rural areas of Haryana.

While all this was happening a very few noticed that on this prominent MG Road only while one Mall project was abandoned by the builder and other three malls(under construction were put on slow speed for the lack of market Demand.

Not only on MG Road, but shirking market trend was also felt on Golf course Road &NH-8Where proposed shopping malls gave a deserted look.

On Sohna Road the scene is no different as beside one operational mall, where more than 50% shops are still to open. ( despite the fact that this mall has been so called operational for more than 15 months ). Yet another Marriage mall stand complete in isolation awaiting to be occupied.

And to my utter surprise I see still about seven more malls under construction under such a bleak future .

Mall fever is not yet over it is spreading to Rewar,Dharuhera Bhewadi and as remote places as Punahna etc