Seeking approval from the state government, Yamuna Expressway Authority has dispatched a revised draft of Master Plan 2031 for the development of the first phase.
More residential development is likely to come on the Yamuna Expressway corridor.
Yamuna Expressway Authority has dispatched a revised draft of Master Plan 2031 to the state government with some alterations. The altered draft omits plans to build Jewar Airport and the Yamuna Expressway Authority will reserve the set- aside- land for the airport.
Earlier 10,000 hectares of agricultural land was kept apart for the airport construction. Once the plan gets approval, the revisions will be implemented in the sub-regional plan of Uttar Pradesh.
During its last month’s board meeting, Yamuna Expressway Authority had declared that it would send revised master plan to the state government for approval. However the move is believed to follow the State’s CM Akhilesh Yadav’s decision to construct the proposed airport somewhere nearby Agra or its neighborhood. Continue reading →
Koramangala, lying in the South eastern parts of Bangalore, is expected to offer higher returns to the investors. It has become one of the most sought after residential areas in the Bangalore Metropolitan Region (BMR).
Koramangala in Bangalore has recently become a hot home -destination.
Guaranteeing higher returns to the investors, Koramangala has become one of the hotter real estate destinations in India. The large number of upcoming ultra-luxury residential projects, commercial malls and posh villas show how fast the area develops and becomes a better home- destination.
While speaking to Shweta Rao of Economic Times, Mr. Gaurav Pandey, Vice-President of PropEquity Research & Consulting, told that “having close proximity to many established commercial hubs in the Central, East and Southern regions of Bangalore, Koramangala has evolved as a premium residential market.” Continue reading →
The good news is that the interest rates might come down in residential segment whereas commercial real estate sector will be hit and the reduction will take place in office space. This is the first time something like this had happened and it is difficult to predict the consequences. It has created uncertainty in the global market and extreme instability across asset classes.
There could be some positives for emerging markets such as India, with the cut of prices of oil and other commodities, inflation too can be controlled adding to it interest rate should come down. Overall, impact on real estate in India could be positive.
The money that pours in will be further used to further for residential development as we already have reasonable capacity for commercial development that still needs to be absorbed. However, in the long run, the commercial property sector take-up maybe an issue, from the demand side from IT/ITeS sector which are closely linked with the USA.
On Wednesday, the Cable Corporation of India made announcement that it has planned to enter into the real estate and will spend an amount of Rs. 1000 cr. in its first project. CCI Projects Private Ltd (CCP) is an associate company of CCI in which CCI holds 15% stake. CCI will be developing the project through CCP.
The project is entitled as Rivali Park. It is a project spread over an area of 22 acres located at Borivali, Mumbai. The project can be considered as a mixed-use development with various commercial, retail, entertainment, hospitality, and cultural elements.
The project will be completed in phases and would take around five to seven years to complete. The first phase is expected to complete within next 24 to 30 months and is part of the residential development.