Gurgaon, one of the most prominent cities in the NCR, is now facing acute power shortage. Scarcity of water adds multiplies the troubles of the city-residents.
Gurgaon was once considered as one of the most suitable locations in the NCR to live on. Now the recent reports show that the city is affected by various issues like power shortage, water scarcity and other sanitation troubles. Continue reading →
Delayed projects have hit the NCR residential market. Due to the delay of projects the home sales have dipped in the NCR.
NCR residential market is affected by construction delay.
DELHI-NCR: The prospective buyers are nailed by delay in projects. As per a recent report by Knight Frank states that new launches in the Delhi-NCR has fallen by 31%. It has adversely affected the NCR residential market.
As per the report, NCR residential market has nearly 1,40,000 unsold inventories. Out of this, over 27% is under construction.
As per the Knight Frank India report the 33,500 units were launched in the second half of 2012-13. This shows a fall of 31%. Global property consultant firm warns that the launches will see slowdown in the coming months too, affecting the largest residential market.
Developers are finding it really hard to complete the projects. The escalating prices of raw materials make construction costlier. This prompts the developers to invest more. Difficulty in finding sufficient fund is thus another reason for delayed projects. Continue reading →
Gurgaon is without any doubt one of the best property destinations in the Delhi-NCR.
Gurgaon is one of the top realty investment destinations in the NCR.
GURGAON: There are many hot realty destinations in Delhi-NCR. Noida and Greater Noida, Gurgaon, Ghaziabad, Faridabad, etc. are some of the most popular property destinations in the NCR. However the most popular one among all these hot destinations is Gurgaon.
A recent report by Bank of America Merrill Lynch report stated that home sales in Gurgaon have fallen in the first quarter of 2013. It adds that home sales have picked up across the subcontinent.
Home sales picked up because builders launched new projects in lucrative prices. Discounts were offered. The situation was all the more boosted by the expected rate cut on home loans.
Though home sales in Gurgaon did not pick up, the property prices are not affected. The lower demand for housing units has, in fact, no effect on the home prices. Prices rose during the period by 4 to 5%. Continue reading →
HUDA has taken away the deadline for finishing minimum construction in the allotted residential and commercial plots.
HUDA takes the time limit for construction on allotted plots.
GURGAON: Haryana Urban Development Authority has taken away the deadline, the time limit, for finishing minimum construction in the allotted residential and commercial plots. Commenting on the new decision of the HUDA, a spokesperson said that there will be no time limit for completing the construction.
As HUDA has taken away the time limit, the allottees will be free to complete construction according to their financial stability. Earlier they were supposed to complete minimum construction within a couple of years from the possession-date.
The HUDA spokesperson added that after 12th year, the expiry period, further extension can be attained by paying the double the rates. However this will not be applicable to the plot sizes which are up to 100 sq. m. or less. Continue reading →
Private Equity wing of Essel Financial Services Ltd plans to launch its first real estate fund. The Rs.1000 Cr PERE fund will be invested in the residential sector.
Essel plans to raise Rs.1000 Cr for investing in residential sector.
MUMBAI: Private Equity wing of Essel Financial Services Ltd has already raised Rs.200 Cr. The fund will be invested in the real estate sector. Essel Group plans to develop housing projects in top cities across the subcontinent.
Private equity in real estate (PERE) is increasing in India. 2012 saw 32 PERE investment deals. Nearly PERE Funds worth $464.26 million was invested in last year. This is well above $310.88 million in 2011 which saw only 15 such deals.
The PE wing of Subhash Chandra-owned Essel Group plans to launch a Rs.500 Cr fund. The group also has plans to raise another fund of the same amount. The fund will be raised from domestic investors.
Essel Financial Services CEO and MD of Amit Goenka said that developers raise huge demand for capital. He added that most of the projects are stuck, due to the lack of capital. He finds delay in approvals as another reason for the stuck projects. Continue reading →
Offering higher returns to the investors, properties in Delhi NCR remain one of the most sought after options of investment. Investors in the Delhi NCR are keen to invest even on residential plots as well.
Investment in Delhi NCR properties increases as it offers better returns to the investors.
Delhi NCR is one of the top real estate investment destinations in India. The city offers higher returns to the investors and so there are many investors who remain keen to invest in the properties in this region.
According to a recent survey, nearly one-fourth of the property investors are attracted to Delhi NCR which is second hotter destination after Mumbai. The area offers around 90% of returns to the investors.
Among the investment options in the Delhi NCR, Dwarka Expressway Corridor is the best and most sought after real estate investment destination. The area’s growth is well-supported by the infrastructure development and the location advantages. Continue reading →
With high paced infrastructure development and growing transportation facilities, Faridabad is slowly emerging as one of the best realty locations in the NCR.
Faridabad real estate booms along with widening of Highways.
Faridabad has already become a hot spot for the realty players. Many of the most noted real estate developers of the NCR region have their projects in the city now.
Though the city is facing hard-hearted competition from other neighboring cities like Gurgaon, Noida and Greater Noida, it still has achieved a place among the hot real estate locations in the NCR region.
Compared to other neighboring cities the city is more suitable and demanded by middle income class group. Viewing the increasing population level; in the city Haryana Urban Development Authority has launched a 20 year development plan for the city. Continue reading →
As Haryana Urban Development Authority (HUDA) has postponed plot allotment in Gurgaon; following the HC order, the wait of the 700 plot owners still got longer.
HUDA postpones plot allotment after the HC order.
Haryana Urban Development Authority was expected to allot the plots to the plot owners last week. However, surprising the plot owners of Gurgaon, HUDA postponed the plot allotment.
All the steps had been completed for the HUDA to announce the draw of lots last week. However due to some reasons HUDA has to postpone the plot allotment for indefinite period of time.
Plot owners have been battling for owning a plot in Gurgaon for a quite long time. They hoped that their battle would get over as HUDA had been expected to announce the plot allotment. Continue reading →
Haryana Chief Minister Bhupinder Singh Hooda’s close relatives have acquired a large number of real estate properties in the state. Many of these real estate dealings point to politicians deep relations with the real estate giants.
Bhupinder Singh Hooda’s son-in-law prepares to play a game of brain in the real estate sector.
Haryana, being a fertile land for real estate, is always sought after by the real estate builders. Many relatives of Haryana Chief Minister Bhupinder Singh Hooda run companies in the state.
Havelock Developers Pvt Ltd is one among the many. It came in to life in 2007 as a fully owned sub-firm of Unitech builders. Havelock obtained land parcels in many parts of Gurgaon. The firm own land parcels in Gurgaon’s Fazilpur and Badshahpur areas.
Havelock obtained unsecured loans of Rs.6.7 Cr from Unitech, one of the largest real estate builders of the company. Well before the loan tenure came to end in March 31, 2008, Havelock’s ownerships were transferred to Anjali and Kunal Bhadoo, Haryana Chief Minister Bhupinder Singh Hooda’s daughter and son-in-law. The transfer took place in September. Continue reading →
Adani Realty has announced its tie up with M2K. Delhi-based M2K Group and Adani Realty will jointly develop a premium housing project- Oyster Grande Gurgaon.
Adani Realty, Adani Group’s real estate wing has revealed its plan to launch its latest residential project in Gurgaon. Adani Realty will be launching this housing project in collaboration with M2K.
Adani Realty and M2K will have equal shares on this residential project. According to the available information, the estimated investment for this residential project is about Rs.1000-Crore. The 40 acre sprawling Oyster Grande is to be set on Dwarka Expressway. Continue reading →
Gurgaon farmers alleged that the real estate developers grabbed their land with the consent of the Authority.
farmers’ cry against real estate exploitation
Industrial model township projects by the govt. in collaboration with the real estate developers turn out to be means for robbing the poor farmers. Chaudhary Devi Lal Industrial Model Township is an example. Continue reading →
Many factors and features of Gurgaon make it the best option for the investment. Recent trends show that real estate is the top rated form of investment. The lower interest rates of bank deposits and uncertainty and greater risks of share investments turn the attraction of people to real estate investment. Real estate investment stands ahead of other forms of investment. Real estate investment is getting more popularity and more amount is being invested in real estate. Decreasing number of plots and increasing demand assure the investors that the price never goes down. Real estate as a whole witnessed a steady growth all over the world and India. Among the fast developing real estate sectors in India Gurgaon remained the fastest growing and the best option for real estate investment. Continue reading →