Wildlife getting hit by realty plans in Noida

The forest department of Gautum Budh Nagar has sent a notice to around 50 realty projects within its area of 10km of Okhla Bird Sanctuary, saying first get a clearance from the standing committee of National Board of Wildlife (NBWL).

The notice is being issued based on 2006 Supreme Courts’ judgment that all the cases are environmental clearance by Union Ministry of environment and forests (MoEF).  All the clearance is mentioned in Environment Impact Assessment guidelines issued by the minister. Officials of forests department said as per list of projects mandated of clearance a notice has be issued to building and construction projects with built up areas between 20,000 and 1.5 lakh sq meter township and area development of more than 50 hectares. The ministry has declared the land near or around sanctuaries or parks as Eco-sensitive zone. Any activities near it would be regulatory nature.

Posted: 16 Nov 2012 11:10 PM PST
By Accommodation Times Bureau

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Noida is no more affordable

Earlier Noida was understood as the destination for affordable housing but it is not the case anymore. This region has witnessed price appreciation of around 50%.  Noida is slowly transforming into a hub of luxury and high-end projects to give a stiff competition to the neighbouring city of Gurgaon in Haryana. The Noida and Greater Noida authorities have decided to brand the twin cities in the luxury segment with various developers coming up with high class residential and commercial towers in the region.

The chairman of the three authorities of Noida, Greater Noida and Yamuna Expressway, Rakesh Bahadur, said that till now Gurgaon was considered the costliest in Delhi-NCR despite the township lacking in terms of necessary infrastructure and facilities. “Now, Gurgaon will have only one USP, which is close proximity to the airport. As builders are coming up with projects developed by world class agencies, in the next five years, Noida will beat Gurgaon in all respects,” Bahadur said.

High-end buyers are shifting their base from Gurgaon to Noida. World renowned Italian couturier Giorgio Armani is likely to design an exclusive flat in the Supernova project.The cost of one designer flat with an area of 4,000-5,000 sq feet will be around Rs 10 crore. For starters, Raj Kundra has decided to purchase a flat for his wife, Shilpa Shetty, in Supernova. Supertech has also tied up with Leela hotels group to open the first 7-star hotel in Noida.

Posted: 03 Nov 2012 04:09 AM PDT
By Accommodation Times Bureau

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Private Equity Funds: In favour of customers

A new trend has started in realty where the funds are preferred from the private equity players. Realty requires a constant cash flow to keep it going. Such deals have been happening more in the residential real estate sector. The private players are investing in projects for shorter duration. Such investments are beneficial for the customers indirectly, since the developers will utilise the amount for their benefits.

The investors are very cautious while investing in real estate and prefer shorter investment. They are just to invest with guaranteed cash flow. The investors may exit when their returns are not expected by the stipulated time. In real estate sector, in the first half of 2012, 50% of the funds were invested by the private players.

The investors who invested during the boom period didn’t have exits whilst the slack period. But pertaining to the current scenario, despite inflation and cash crunch, investors have witnessed good sales. Many realty players have been turning back to private players and offering better returns, up to 30% annually.

Posted: 29 Oct 2012 05:33 AM PDT
By Accommodation Times Burea

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Private Equity investment drops by 15% in realty

According to the global property consultant Cushman and Wakefield reports the private equity investments in the realty sector declined by 15% in the first three quarters of 2012. The consultant blamed that the drop in PE investments is because uncertain investments in the country among others.

Sanjay Dutt, MD, Cushman and Wakefield said, ‘’the Indian real estate sector has seen a drop of 15% in PE investments in the first three quarter of the calendar year 2012 compared to a year ago’’. During the first three quarters of previous year, the real estate industry had attracted investment worth Rs.4, 110 crore.

Giving us the reason for this fall he say,’’ it is mainly because lot of concerns on the government policy front conjugated with uncertainties, valuation focus on the venerable funds.

He however believes that this shortfall can be made up in coming quarter on working of recent policy, new market strategies, opportunities in booming markets like NCR, Mumbai, Pune, Bengaluru, and Chennai.  According to the reports, the total of private equity transaction till date is 23 marginally lower then last year. The residential segment has seen maximum PE investment of the total private equity investments increasing by 9%. Mumbai is the first preferred destination for private equity followed by Bengaluru and the NCR.

Posted: 31 Oct 2012 01:36 AM PDT
By Accommodation Times Bureau

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Noida to get tallest tower of 300m

Looks like Noida will back behind Dubai in terms of getting tallest tower. Brys Group, delhi-based real estate firm has announced to develop a 300 meter residential tower in Sector 15 of Noida.

Sum of 1,000 crore is invested for this high-end luxurious projects which includes 285 premium flats and villas hoping to be complete in next 4 years. Obviously the buyers would be the net worth individuals who have the capacity and want to live in these apartments offering international facilities.

Rahul Gaur, chairman of Brys Group said, ‘’land is a fast shrinking commodity and there are issues related to acquisition. Vertical development is the only way to create iconic properties.’’ Further he said development and construction of tall structure is not an easy task. Considering the high court of these apartments, resale becomes extremely difficult that eventually forces short term investors to stay away from such projects. However, we are relying on end-users and not short term investors.

After Supertech’s launch this will be the second tallest building in NCR region offering 3 BHK, 4BHK, 5 and 6 BHK flats priced between 5 crore to 9 crores. the construction will begin in January next year and expected to be completed by 2016.

Posted: 29 Oct 2012 02:12 AM PDT
By Accommodation Times Bureau

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Small office spaces in Gurgaon watches huge supply

Gurgaon one of the major commercial region of Delhi-NCR is surely witnessing a high demand of small office spaces less than 10,000 sq. ft category. About 1000-5000 sq. ft of property is the need of hour. This demand has eventually resulted over-supply of some units of one of the developers in the region.

The reason why there is spike high call is because many banking sectors, insurance companies, heavy engineering companies, consultancies, telecommunication firms and many other small industry which usually don’t get place in CBD gets settled in minimum area. The rental values of these spaces are somewhere from lowest of Rs. 25 per sq ft per month to Rs.140 per sq ft depending upon the locations, developers and facility provided.

The NCR region has seen a push in space selling from past 2-3 years as these regions are developing and many high end companies and low end companies are establishing themselves. Most of the renowned developers like Spaze Group; DLF offers office space in different sizes as required.

Space for small office is also readily available in unorganized sectors. By unorganized it means that there are several independent buildings offering 500-1000 sq. ft space, the rental values varies, customers generally look for these kinds of areas because they approach the owners by their own as the agents do not get involved due to low commission.

Posted: 27 Oct 2012 01:21 AM PDT
By Accommodation Times Bureau

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BPTP launches Visionnaire Villas in Gurgaon

New Delhi: BPTP, one of India's leading real estate companies, has announced the launch of Visionnaire Homes, the first co-branded luxury villas. These bespoke villas are a part of a gated development spread over 48 acres in an integrated township located in the heart of Gurgaon at Sector 70A. Speaking about the launch, Mr. Sandeep Bedi, Director - Systems & Strategy, BPTP, said, "Visionnaire Villas represent the finest luxury living and are a shining example of our dedication to meticulous planning and attention to detail which have made us industry leaders in quality and innovation. Our exclusive collaboration with Italian design gurus IPE Cavalli to create these architectural masterpieces is yet another step towards our goal of becoming the most preferred real estate developer in the country." Nestled in the midst of the Aravallis, Visionnaire Villas are a perfect blend of luxury and exclusivity. These villas offer low density cluster living with excellent connectivity via the Golf Course Extension road, Sohna road and NH- 8. "At BPTP, we are driven by the twin objectives of operational excellence and unparalleled customer experience to create best-in-class and sustainable developments. With the launch of Visionnaire Villas, we are taking the world into the future of urban living and setting a new benchmark in luxury development in the country," Mr Bedi added.

Source:- Economics Times
BUREAU Oct 23, 2012, 03.21PM IST

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