Latest Real Estate News on 'Gurgaon'

NCR real estate hails polls surveys, hopes of market revival

Comments Off on NCR real estate hails polls surveys, hopes of market revival   |  May 17, 2014

NOIDA: Realtors and local players expect that the realty market, which offers thousands of jobs and a major contribution to the economy, will revive in a couple of months.

Real estate sector players said that with polls surveys, revival signing were visible. Indian stocks climbed to record highs just after exit polls. The players strongly believe that there would be control in price rise this will further help to reduce construction cost. Apart from that, companies and buyers who have been holding their decisions of investment for a longtime, will jump in the market.

Poll projections have floated a new wave of expectation in UP’s industrial and real estate sector. Experts believe that a clear mandate will lead to economic growth. They also believe that the market is sentimental and will respond very soon — possibly breach an all time high. Amit Gupta, MD, Orris Infrastructure said, “For the last few months the Indian real estate was witnessing major downslide. Even the results of four states assembly elections had left a positive impact on the Indian market. We are hopeful that the real estate market, which provides bread and butter to crores of people of this country, would be revived soon. There is no doubt that the mandate will pump the market. The positive sign will be visible in the coming days.”

Anil Mithas, CMD, Unnati Fortune Group said that positive sentiment was missing from the market, which is why some sectors were not doing well. With the functioning of the new government, the market will witness more growth and strength. “Real estate had started witnessing revival signings after four assembly polls last year in December and it’s the right time to buy property. Post elections, rates would go up and put burden on the buyer’s pocket. The poll surveys displayed by media houses are reflecting stable government,” Mithas said.

“For that last one-and-a-half decades no big industry has associated its name with Greater Noida and Ghaziabad, which is called the industrial hub of Uttar Pradesh. Credit goes to poor infrastructure, maligned law and order and ‘gunda and jungle raj’. We are sure that a clear mandate and stable government will impact the NCR region as well,” said Aditya Ghildiyal, president, AGNI (Association of Greater Noida industries).

Source: TOI

15 gems in Gurgaon’s realty crown

Comments Off on 15 gems in Gurgaon’s realty crown   |  March 21, 2014

Winners don’t always take it all, especially when one has to choose the best from the best.

The 10 housing societies that made it to the top 15 of Clash of the Condominiums but couldn’t break into the best five matched the winners in several parameters and even surpassed them in some but lost out in the overall tally.

An analysis of the survey, conducted by the Indian Market Research Bureau (IMRB) in association with The Times of India, shows the condominiums that made the top 15 have almost everything an ideal home should — from efficient administration to a well-equipped gymnasium and good neighbours.

The names of the first five have already been announced — Aralias, Hamilton Court, The World Spa, Gurgaon One and Raheja Atlantis. This is how the rest stack up. At No. 6 is The Laburnum Complex, followed by Vatika City, Wellington Estate, DLF Park Place, Jal Vayu Towers, The Close North, Belvedere Towers, Ridgewood Estate, Orchid Petals and Sispal Vihar AWHO Society.

The condominiums were judged on parameters that included maintenance charges, RWA performance, power back-up, construction quality, satisfaction with maintenance, safety of children, satisfaction with facilities, frequency of government events organized within the complex, festival events, the quality of gymnasiums, swimming pools and common and play areas.

Each aspect was rated on an individual scale before a final ‘overall satisfaction index’ was drawn up, taking into account both tangible components like infrastructure and intangible ones like safety and neighbourly interactions. While the top five did well in almost all indices, the others too had their moments in the sun.

The Laburnum Complex, for instance, finished next only to the winner, Aralias, as the condominium whose design most people in the city would adopt if their own society was to be given a makeover. Then, Vatika City, which doesn’t figure in the top five, notched up the best scores for its swimming pool, common area and club. Similarly, The Close North got maximum points for its common area, club and kids’ play areas while Jal Vayu Towers and Sispal Vihar AWHO Society also got the perfect score for their common area and kids’ play areas.

Along with Aralias, Belvedere Towers topped the gym and swimming pool score sheets. The society that scored full marks for its common area and power back-up was DLF Park Place. On the aspect of safety with respect to visitors, which was given significant weightage in the study, Sispal Vihar outdid all others, specifically for its implementation of maid ID cards. It also received top marks for its convenience store, a category in which the only other complex that bagged full points was Wellington Estate.

Some apartments with moderate results in most categories outshone others in one or two segments exponentially. Orchid Petals, for instance, performed exceptionally well on power back-up, finishing among top societies like Aralias and DLF Park Place.

The survey was conducted by IMRB in association with TOI with ground support from just my neighbour

Inside The World Of City’s Fabulous Five

Comments Off on Inside The World Of City’s Fabulous Five   |  March 20, 2014

1. Aralias

The end of the age of luxury in Gurgaon is neatly marked by the Aralias. This is the point where the age of ‘super luxury’ began. DLF’s flagship condominium, Aralias is the domestic equivalent of a luxury hotel. There are lobby attendants at the gates, and a 24/7 concierge service that can attend to a range of concerns the residents may want addressed – from ordering a birthday cake, to making last-minute arrangements for a party; from maintenance and housekeeping to getting someone to walk the pet. “I have lived here for around six years. And there’s no doubt that this is best place anywhere in India. My friends in Dubai, who have visited our place in Gurgaon, say that if they decide to move to India, they will live at the Aralias,” said Yogesh Agarwal, a resident.

No. of flats: 254

Occupancy rate: 87%

2. Hamilton Court

Above all, residents of Hamilton Court take pride in their community spirit. These towering condominiums are barely 15 years old, but with around 97% occupancy rate, this already a bustling community of people from various backgrounds. At times, even birthdays are celebrated as festivals here, and this, according to the RWA president Sanjay Bansal, defines the many ‘charms of living here.’

No. of flats: 265

Occupancy rate: 97%

3. The World Spa

Residents of this condominium complex call themselves the ‘Spartans’. Ashwani Singla, president of The World Spa Owners’ Association, is a long-time Spartan. “I think ours is the best community. We are all self-made professionals. The best thing about this place is its people,” he says. S K Bahari, a resident of over four years, calls this a “lively place”.

No. of flats: 367

Occupancy rate: 78%

4. Gurgaon One

The ambience within this complex is often compared to that of a high-end resort. Navneet Sahni, the president of the RWA, calls this place an ‘oasis.’ “Outside there’s chaos, and here you have the biggest greens in the whole city,” he says. Gurgaon One, Sahni adds, was ‘listed with distinction under sustainable projects’ at the Asia Pacific Real Estate Awards held in Shanghai in 2008.

No. of flats: 240

Occupancy rate: 75%

5. Raheja Atlantis

Rajesh Madan, executive director of a pharma firm, lived for 40 years in Delhi. In May 2010, when he chose to experience the condominium life in Gurgaon, he decided to move in at Raheja Atlantis. “After having spent a long time in Delhi, this was a welcome relief. Now I don’t want to go back. People are reluctant to move to Gurgaon because of water and power issues, but here there’s no such trouble,” he says.

No. of flats: 268

Occupancy rate: 80-90%

10 major roads to become ‘no parking’ zones soon

Comments Off on 10 major roads to become ‘no parking’ zones soon   |  March 20, 2014

GURGAON: To ease prominent traffic bottlenecks in the city, the municipal corporation along with traffic police plans to declare over 10 arterial roads as ‘red zones’, where parking vehicles will not be allowed. The authorities however have not bothered to come up with an alternative parking solution.

“These are core traffic areas and should be ‘no-parking’ zones. I have already spoken to the police commissioner and we have decided to declare 10-15 odd city roads as ‘red zones’. While we have already identified a couple of roads such as the one connecting Sadar Bazaar to the bus terminal, Jail Road and Atul Kataria Chowk, we will zero in on more roads soon. Most of the roads will be in old city and some in new Gurgaon,” said MCG commissioner Praveen Kumar. “The concept is popular in England and many other countries. The ‘red zones’ will have signboards painted in red and CCTVs to monitor any violation, following which our enforcement team will take necessary action,” Kumar said.

Kumar however did not say much about the parking alternatives. “This is to discourage people from parking anywhere they like. They will have to park elsewhere and walk. The proposed multi-level parking lots will take at least another year to get ready.”

“Developed countries have excellent public transport system and adequate parking lots but in Gurgaon people are forced to use their vehicles. The municipal corporation must first provide efficient public transport and then come up with such ideas,” said Jagat Singh, a Sector 15 resident.

FIR against builder over water supply

Comments Off on FIR against builder over water supply   |  March 20, 2014

GURGAON: Residents of an apartment complex on Sector 55-56 road staged a protest against the builder on Tuesday night for not providing adequate water despite charging high maintenance. Police have booked the authorities for misappropriation of maintenance funds.

Residents claim they did not get water for three days and it spoilt their Holi celebrations. They decided to protest when the builder did not respond. Police arrived at the spot soon and managed to convince the residents to call off the protest. The residents subsequently filed a complaint against the builder. The colony is near HVPL substation on the Sector 55-56 road, which runs parallel to Golf Course Road.

“This is one of the most upscale areas of the city but there is no water for the last three days. We pay between Rs 350 and Rs 1,750 as maintenance charges but there is no assurance of uninterrupted water supply,” said Ramesh Gupta, president of the RWA.

“According to the complaint, we have lodged an FIR against the manager, the vice-president and the management of the building under sections 406, 420 and 120b of the IPC,” said ASI Suresh Kumar.

Competition Commission of India rejects plaint against Emaar MGF

Comments Off on Competition Commission of India rejects plaint against Emaar MGF   |  March 20, 2014

NEW DELHI: The Competition Commission of India has rejected allegations that realty firm Emaar MGF indulged in unfair business in a project here.

The allegation pertains to The Palm Square project where the complainant, Arvind Kumar Sachdev, had booked a commercial unit. It was alleged that most clauses in the buyer’s agreement were onerous and one-sided in violation of competition norms.

The panel has said that Emaar MGF Land and Active Promoters do not appear to be dominant in the relevant market. Since they don’t appear to be in a dominant position in the relevant market, “no question of abuse of its dominant position can arise in terms of the provisions of Section 4 of the Competition Act,” CCI said in its March 11 orders.

“Presence of other builders, prima facie, shows prevalence of competition in the relevant market. There is no material before the commission to infer that opposite party (Emaar MGF) could operate independently of competitive forces,” the order noted.

Raahgiri city plots street-smart future

Comments Off on Raahgiri city plots street-smart future   |  March 16, 2014

GURGAON: A busy metropolis like Gurgaon, immersed in riches of every variety, has a severe shortage of time. So when time is devoted – a whole workday morning, in fact – to discussing some of the more pressing concerns of the day, the gesture itself is significant. But Friday’s workshop, titled ‘Sustainable Transport in Gurgaon – What Next?’, went beyond gestures. It was an attempt to arrive at realistic solutions to the problems of urban transport in the city.

Bringing together the stakeholders – urban planners, government officials and residents – on one forum, the workshop, co-hosted by The Times of India and EMBARQ India, was seen as a necessary follow-up to Raahgiri Day’s immense success in Gurgaon.

Now that the Raahgiri movement is on the ascendant, and now that there is a palpable demand for better infrastructure for non-motorized transport in Gurgaon, what next? This was the crucial question the session sought answers to.

“Walking, cycling and public transport should be a right of residents in any city,” said Gil Penelosa in an inspired keynote speech that got the workshop under way. Penelosa is a former transport commissioner of Bogota, Colombia, and had a key role to play in taking the local cycling festival Ciclovia, on which Raahgiri Day is modelled, to new levels.

“Making sustainable transport work is not the issue of budgets and money, it’s about getting your priorities right,” he said, adding, political will was the pre-requisite for such changes to occur. Citing the example of his own record in Bogota, he said, “Twenty-seven years in that city, we had nothing. And within three years we built footpaths, parks and bikeways all across.”

Penelosa recommended that residential colonies be marked as “low-speed zones” and said the city required a network of protected cycle lanes “physically separated from the rest of the road”.

Making the case for sustainable transport from the view-point of industry was Nitin Seth of Nasscom. He said active commuting had become an “existential necessity” for the survival of Gurgaon’s industry. “Our transport costs are more than our real estate costs, which increasingly challenges the growth of our industry,” he said.

Seth further suggested the setting-up of a sustainable transport forum with representatives of the IT-BPO sectors, civil society and the administration, and which is “empowered to take decisions”.

S K Lohia, national project director of the Centre’s Sustainable Urban Transport Project, said revamping Gurgaon’s streets wouldn’t require massive investment. “High-cost infrastructure is not what’s needed here, small changes can make a huge difference,” he said.

Among other panellists at Friday’s conference was the commissioner of police Alok Mittal, and TOI’s Ranjan Roy, who said Raahgiri Day was the “opening up of a dialogue”, which is cultural on one level and administrative on another. What’s needed now is to take the next step ahead.

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