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Increasing Real Estate Projects in India
| March 26, 2007 |  (Be the first to rate this story!) Loading ... |
A substantial increase has been seen in the number of real estate projects in India which have shown a mark appreciation from around Rs 30-60 crore, to between Rs 500-2,500 crore at present day.
Apart from the 200% growth in the past few years, real estate projects including commercial, residential, and retail is likely to reach sky high. This is one of the leading factors accountable for increasing property prices across the board. The first phase of the 2,504 acre hi Tech Township by Ansal Properties and Infrastructure Limited in Greater Noida, is estimated at Rs 20,000 crore.
However, such exclusive real estate projects are an addition to the prevailing projects ranging from Rs 500 crore to Rs 2,500 crore. Unitech, a leading property developer in India, is making an investment of Rs 2,500 crore in a mega integrated residential project, also in Greater Noida.
Natraj Buildwell Ltd. has come up with NRI hills-International City at Jaipur. The project contains the investments of Rs. 1,000 crore. The cost of Alpha G: Corp’s Project, Alpha International City, Karnal is determined to be 600 crore. Different projects of the renowned property developer, Parsvnath include Parsvnath Privilege at Greater Noida (Rs 35 crore ), Parsvnath City at Dahruhera (Rs 450 crore), a 5 star hotel and multiplex-cum-mall at Vijalpur, Ahemdabad (Rs 250 crore) and a shopping arcade at Rohini ( Rs 231 crore).
These high prohibitive real estate projects give an indication of the next real estate boom. Replying to the same, Manish Uppal, MD, Uppal Housing, holds positive perspective about the real estate growth in the country. However, the factors that are playing a critical role in the rising project costs include increasing cement prices and the developers’ vision to offer newer and quality construction.
News Published Under: Real Estate India, Real Estate Developers |
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