Archive for the 'Commercial Complexes In India' Category

Special Residential Zones Could Be In Offing

Saturday, August 2nd, 2008

With real estate developers lobbying for special residential zone on the lines of special economic zones, the government has now indeed stated considering their proposal. The ministry of urban housing is of the view that earmarking of land masses in cities and their peripheries for such zones can really boost country’s housing stock, provided there are enough regulations in place. The policy makers fear it may not turn out to be a foul real estate play for developers. Also there is major hindrance to convince states in doing so, land being a state subject.

 

 

 

                                                                                            Courtesy: - E.T. dt 1st August 2008

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Destination Kandivali

Monday, July 28th, 2008

Kandivali, a largely residential suburb, located between Borivali and Malad on Mumbai’s western line, is in the throes of an urban makeover with developers eagerly cashing in on its proximity to the arterial Western Express Highway and improved infrastructure to lure homebuyers and retail players with a slew of projects.

 

When Avinash and his wife Shantashree moved from the elite suburb of Bandra to a bigger flat at faraway Kandivali about five years ago, he feared the worst. And not without good reason, after all if it wasn’t for the space constraints imposed by his cosy but small two-room apartment, he had no reason to relocate from Bandra, the suburb where he grew up and more importantly, where most of his social contacts still resided. “I had heard stories of Kandivali’s commuting hassles, lack of basic amenities and frequent leopard attacks on people at the neighbouring Sanjay Gandhi National Park,” recounts Avinash with a wry smile. It was only a few months after he had shifted with his wife to their new abode at a suburban apartment complex at Kandivali (East), did he realize that the horror stories he had heard were far from the truth. “I was pleasantly surprised by what I found. In fact, I have since advised quite a few of my acquaintances to move out here,” he admits.

 

Kandivali over the decade has undergone a complete urban transformation and now rates as one of Mumbai’s fastest developing suburbs and a preferred retail destination with plush shopping malls like Growel’s 101, Shoppers’ Stop and Raghuleela Mega Mall. Its landscape is now adorned with a huge number of high-rises and housing complexes that includes landmarks like the sprawling 21-lakh sq. ft. Evershine Millennium Paradise, a self-contained residential township with over 100 buildings, Challenger Towers, a clutch of six multi-storied buildings that reach for the skies and Raheja Willows, K Raheja Universal’s residential complex on Akurli road that offers a choice between 2 & 3 BHK apartments in three towers with premium amenities. Other prominent projects include: Thakur Village, Thakur Complex, Kalpataru Gardens, Oberoi complex, Sun City complex and Gundecha Builder’s Valley of Flowers.

 

The Lokhandwala group has come up with two townships in Kandivali- Whispering Palms and Spring Leaf. The former is a luxurious township of earthquake-resistant homes, spread over 27 acres of land and just minutes away from the WEH, while the latter too is a residential complex of 2 BHK and 1BHK apartments, with extra amenities like a tennis court, a play area for children, swimming pool, health club, besides ample parking space for residents.

 

While the eastern part of this suburb has witnessed the bulk of construction activities given the ample land available and a booming demand, Kandivali (West), with its large Gujarati population, is the ideal destination for the suburban crowds with its cleanliness, excellent connectivity, affordability and well-defined distance between its residential complexes and commercial areas.

 

Shopping for groceries and provisions is easy and affordable with the Charkop market and Apna Bazar close by. While Shoppers’ Stop is the major retail shopping attraction, cinemas like Cinestar, Fame and Mayur cater to the tastes of the local moviegoers. This suburb also boasts of some of the best medical facilities in the city with a concentration of about 15 hospitals in the vicinity and a clutch of marriage halls that also abound here. As an increasing number of young, upper middle class property buyers look seriously at Kandivali as a residential option, the property rates of the suburb have shot up by about Rs 1,200 in past 4 years. Currently, the rates fluctuate between Rs 1,800 and Rs 2,800 per sq ft, depending on the area where the property is constructed and the facilities that the builder offers. Kandivali will also get more accessible once the fifth and sixth railway lines are added between Bandra and Borivali - a Mumbai Urban Transport Programme, which is expected to be implemented by 2007.

 

Attracted by the cosmopolitan mix of its residents and array of shopping, entertainment and lifestyle options close at hand, Kandivali is fast becoming the numero uno choice among young married couples and DINK (Double Income No Kids) families looking to buy or rent affordable home without having to compromise too much on their quality lifestyle.

 

“After living as a tenant at Andheri (East) where I couldn’t stand in my balcony let alone go for a leisurely stroll in the evening thanks to the intense pollution and traffic congestion, moving to this flat at Kandivali (East) has been one of the best decisions of my life,” concurs Adrian De’Souza, an IT professional with a software firm. “Earlier I lived at Andheri because it was closer to my office. After relocating I do spend more time traveling to and fro from work but it’s well worth it because Kandivali offers a lot more in terms of open spaces and entertainment options,” he affirms.

 

Mahesh Joshi, who moved with his family of four to Kandivali four years ago, was on the lookout for a larger flat that also afforded a quality lifestyle for his growing kids. Says he, “When I began my search, I explored many apartments in suburbs like Versova and Marol, but was disillusioned by the high prices and the sheer congestion. Kandivali, on the other hand, has a lot more greenery and open spaces for children to play in. Moreover, I was quite impressed with the area’s shopping and entertainment options and the upcoming flyover that will connect Kandivali east to the west. All these factors cemented my decision to move here and now on hindsight I am happy I took that decision.”

 

“Kandivali has been one of the biggest success stories in all of Mumbai’s suburbs,” says Dhiren Shah, Shah Property Consultants. “Customers are definitely showing a preference for its many integrated townships like Evershine Millenium, Valley of Flowers, Thakur Village and so on. Moreover, some of Mumbai’s leading builders like the Kanakia’s, Lokhandwala, Oberoi, Sheth group, Dynamix and Gundecha have their projects here. We are already witnessing a change in our customer profile for Kandivali projects from middle-class to upper-middle class. With the current rates for residential properties hovering between Rs 1,800-Rs 3,000 psf, the future looks quite promising.

                                                                                                             

                                                                  

Realty Plus

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Delhi: Mall Adorns Paschim Vihar

Saturday, July 26th, 2008

Capitol City Mall, a new lifestyle destination in west Delhi, is a project done by Realtech Group with its joint venture partner Thapar Homes. It’s the first of its kind of retail extravaganza in Paschim Vihar covering an area of 1.50 lakh sq. ft. comprising four floors with arrangement for shopping, entertainment and food. Adding to the all-important dimension of space and freedom, the 10,000 sq ft central atrium perfectly complements the building which is conveniently located next to the tri-junction of Punjabi Bagh, Paschim Vihar and Jwala Heri with ample parking area…

 

The chief architects are Pradeep Sharma & Associates of New Delhi. It conforms to Zone-V seismic compliance with sophisticated firefighting systems and high-speed elevators. There is also an RO water plant system.

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Industrial scene

Friday, July 25th, 2008

Bhiwadi has today emerged as a bustling industrial township. Around 20,000-30,000 persons commute from Delhi, Gurgaon and Rewari to Bhiwadi on a regular basis to work in around 2,500 small, medium and large industries, which include MNC units that manufacture various types of products like steel, furnace, electronics, engineering, textiles, pharmaceuticals, cables, rolling mills, food processing, herbal care etc.

 

The Rajasthan State Industrial Development and Investment Corporation (RIICO) have envisaged for Bhiwadi a growth similar to that in Pune and Hosur. Good roads, developed plots, continuous power supply, high-speed data transferring facility and common testing facility are already developed in the industrial area of this town.

 

RIICO has envisaged developing a dry port that facilitates various value-added services. The facilities planned include container sheds, transit yards, warehouses, railway siding and truck parking, apart from excise payment and customs clearance facilities. RIICO is acquiring more land in Bhiwadi for expansion of the auto complex, which will have an exclusive auto component unit and engineering zone with a tool room and training centre. The automobile hub would generate new investment amounting to Rs.3,000 crores in the Bhiwadi region, creating employment potential for over 7,000 persons. As Rajasthan has the highest livestock population and tremendous bio-diversity, the state has good potential in animal husbandry, genetic engineering and biotechnology. To attract investment in biotechnology sector, RIICO is considering developing state-of-the-art biotech parks. A friendly-investor biotech policy is also on the anvil, under which many lucrative incentives will be provided to the biotech investors.

 

Some of the other projects that are to be taken up for development by PDCOR Limited, a joint venture company promoted by Government of Rajasthan and Infrastructure Leasing & Financial Services Limited (IL&FS), include an International Trade Centre and Medicity. An export-processing zone by DLF Group and a SEZ by Ansal API are also under implementation.

 

Future prospects

 

“The town infrastructure would get a further boost with planned and aggressive initiatives by the government”, R.P. Singh, Executive Engineer with Urban Improvement Trust (UTI), Alwar and Bhiwadi, remarks. He is positive about the future of Bhiwadi. “The proposal for railway station and bypass has been sanctioned. Within 2-4 years, Bhiwadi will be connected to Rewari by a broad gauge rail link and within two years a bypass will connect NH8 and Sohna Road. This year the state government has set aside Rs 4 crores to develop a commercial/office complex.”

 

A focal point between all-important existing and upcoming industrial towns of Manesar, Dharuhera, Bawal, Chaupanki and Neemrana, Bhiwadi is on fast track offering great investment opportunities.

                                                                                                                 

 

                                                                                           Realty Plus

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Bhiwadi a Rising Star

Thursday, July 24th, 2008

Once a sleepy hamlet shunned by the property developers, Bhiwadi, a bustling industrial town on NH8, is today witnessing frenetic residential and commercial activity, fast turning into a promising real estate destination.

 

Touted as a gateway to Rajasthan, Bhiwadi, falling in Alwar district and bordering Haryana is a major industrial growth centre in the NCR with more than 2500 operational industries. Bhiwadi enjoys immense locational advantage with Indira Gandhi International Airport, New Delhi, just 55 km away and Gurgaon 40 km away. Being close to Delhi and well connected by National Highway No.8, Bhiwadi is attracting industrialists not only from the capital but also from Punjab and other parts of India. Manesar, lying between Gurgoan and Bhiwadi, is another major industrial town with IT parks and proposed special economic zones. As the prices in Gurgaon are already high, service class people are left with no choice but to go to Dharuhera, Manesar or Bhiwadi. Several private firms like Ashiana, M-tech, Kajaria, MVL, Bhaskar BDI, Parsvnath, Omaxe, Piyush group etc are developing integrated townships and group housing projects along the Alwar-Bhiwadi Road, the nearest and most affordable destination. And today the real estate developers are quite upbeat about the brand Bhiwadi. Says Vijay Mohan, Marketing Manager of Ashiana Group, “In 1992 when we introduced our group housing scheme, we had to sell Bhiwadi first and then our product but today, from the marketing point of view, it is much easier for us to sell because Bhiwadi is gaining popularity and we are established as a brand in this locality. In 1992, people who had purchased flats from us for Rs 800/sq.ft. are today reselling them for Rs 2600/sq.ft. The 3 BHK villas that sold for Rs 15 lakhs in 2003 today fetch not less than Rs 60-70 lakhs.”

 

The price appreciation is more discernible in retail arena as there is hardly any decent commercial complex in the town. In 1999, Rajender Gupta, a property dealer of Bhiwadi, bought a retail space in Central Market for Rs 5 lakhs. Today it has touched the Rs 50- lakh mark. He added, “Usually, every four years there is a boom in property prices and I believe that in 2009, the investors will get 100 per cent return for their investments.”

 

Citing the reason for sudden real estate development in Bhiwadi, Rajesh Gulati, CEO, Infocus India, says, “Government’s plan to develop Mumbai-Delhi industrial corridor (Bhiwadi will fall under phase I) and the entry of several new multi-national companies in and around Bhiwadi have acted as catalysts.” He added, “In 2005, with the development of Gurgaon, Bhiwadi started gaining visibility. But the land, which used to cost Rs 20 lakhs/acre then, has jumped to Rs 1 crore/acre in 2007. In a year or two, it is sure to double.”

                                                                                                             Realty Plus

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Residential scenario

Thursday, July 24th, 2008

The continuing growth of industries has naturally accelerated the demand for housing and it was in this context that in the 80’s, Rajasthan Housing Board (RHB) constructed 985 lime and stone houses on 40 acres of land for the industrial workers on Dharuhera-Pawal Road. In 1991, RHB and UIT (Urban Improvement Trust) together developed Sectors 4 and 7 with 862 concrete houses built as part of this scheme (53% of them for the low-income group), while 266 of different categories are planned in the Milkapur Gujar locality situated to the south of Dharuhera-Pawal Road.

 

The housing options currently available in this town are the ones constructed by the RHB, plots of UIT that is purchased on which houses are constructed, Ashiana projects and Konark’s Oasis group housing colonies developed by private builders. To meet the scarcity of classy homes, Ashiana has given Bhiwadi Gulmohar Park, Bagicha, Gardens, Greens, Rangoli and Ashiana Villas, which are fetching a good price for the investors.

 

Ashiana Group’s exclusive project, called Ashiana Utsav, is slated to be India’s first resort offering a comfortable post-retirement life to elderly citizens. The owners are free to sell or rent their flats and the builder also extends this facility for a fee. Anticipating a huge demand for housing by the employees of the proposed projects like car plant of Honda Siel in Khuskhera, SEZ of Reliance, Kundli Manesar Palwal (KMP) Expressway etc., several private developers are making contem porary-style apartments. MVL Coral boasts of podium garden, M-Tech markets Camellia Garden’s luxury villas complete with personal swimming pool and fountain while Ashiana and Cosmos promise high quality residential developments. Kajaria Greens and Residency by Kingfisher are the other projects wooing the lifestyle-conscious people. And the yet to be launched Green City’s NRI City will bring in the concept of golf homes. Besides, local developers like Nishita Builders Pvt. Ltd, Piyush Group, BDI Group & Bhaskar Media Conglomerate are coming up with integrated townships. With increasing consumer awareness, the developers are striving to redefine their product offering in terms of quality and design.

 

If one has to invest in residential property in Bhiwadi today, the plots by UIT are available between Rs 600-1200/sq.ft., the rates in housing colonies by RHB are around Rs 1500/sq.ft. and flats that are developed by private builders are quoted at a price between Rs 1400-2000/sq.ft.

 

Says Col. Dilbagh Yadava, Project Head, MVL, “There are several latent factors about Bhiwadi like the proposed airport, railway station, bypass, SEZ and Honda Siel Company, which have attracted real estate companies like us to develop our projects here.” Adds, Prem Adip Rishi, CMD, MVL, “We entered Bhiwadi seeing rapid industrial growth and for its excellent connectivity. At present, there is an over-supply and so this is the time for wise investors to invest because once these projects materialize, the prices will escalate.”

 

In fact, the price appreciation is already there. Amrit Pal Singh, GM (Marketing), Kingfisher Construction Pvt. Ltd. observes, “We had launched our project in January 2007, then the price quoted was Rs 1550/sq.ft. Today we sell our flats at Rs 1725/sq.ft. and by August 2008 when the project will be ready for possession it may go upto Rs 2200/sq.ft.”

 

 

 

                                      Realty Plus

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Mumbai: Best Options At CBD-Belapur

Wednesday, July 23rd, 2008

Lakhani Constructions, based in Navi-Mumbai, has launched three new realtyoptions at CBD-Belapur. The G+10 storeyed Lakhani Centrium at plot No. 27, Sector 15, offers plush offices measuring between 2,500 sq. ft. to 50,000sq. ft. Alternately, the G + podium + 14 storeyed Suncoast, at the same address, offers a choice between multi-level duplexes (2/3/4 BHK flats) and penthouses with modern amenities that include a swimming pool, indoor games area, gymnasium and meditation area. The project is scheduled for completion in the next six months. Lakhani’s Galaxy offers ready possession options that stretch G+12 storeys at CBD-Belapur’s plot No. 83 at Sector 15.

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Mumbai:-New Mall in Andheri near Housing Zones

Tuesday, July 22nd, 2008

Mumbai-based Harsh Kaushal Corporation has launched its state-of-the-art Crystal Point mall at New Link road, Andheri (West), near the residential hubs of 4 Bungalows, 7 Bungalows and Lokhandwala Complex. The highlights of this centrally air-conditioned mall are a food court and entertainment zone on the fourth floor, with a banquet/conference hall spread over a massive 8, 000 sq ft. of area. An open terrace, measuring 30,000 sq. ft., is to be attached to it There will be two high-speed transparent capsule lifts that will afford a full view of the mall and its surrounding areas, ample parking space for more than 500 vehicles, high-class glass façade and a glass-roof atrium. Having already roped in Star India Bazaar as their anchor tenant, the mall is now open for booking shops on lease

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New Hopes

Tuesday, July 22nd, 2008

Ganga Express Way

 

In fact, roads are meant for transportation but these bring riches which way these pass. Ganga Express Way will also be similar. The way it will pass, it will bring happiness there. The Ganga Express Way leading from Greater Noida to Banaras is the destiny changer of people. While this express way will be a mile stone from the traveling point of view, it will prove a boon for the areas which fall on its verges. According to the wishes of U.P Administration, these areas will be developed on the pattern of Noida & Greater Noida. Proposal to construct township at the verges of Ganga Express Way has been sent by several districts to the administration

 

Formula-1 Race Track

There is a proposal to construct a Formula-1 Race Track in Greater Noida. The authority has selected 700 acre land for it. An estimated amount of Rs 1600 crores is expected to be spent on this project

 

 Night   Safari,   Tourism & Entertainment.

 Night Safari work will also be started soon in Greater Noida. Green signal has also been given for construction of transportation hub in Bodaki. While Corporate offices and Financial Hub will be constructed in Parthala Khanjarpur, Tourism & Entertainment Hub will be constructed near Night Safari. While a hundred types of animals may be soon by national & international tourists at night safari, pubbar, discothèque and casino can also be enjoyed simultaneously.

 

 Lush Greenery Will Spread  in Abundant

 Forest department’s 280.9 hectare vacant land near night safari on Murshadpur land shall be made green again. It will be given a shape of forest by doing plantation. The authority will get the plants planted by the forest department and it will be given a shape of forest

 

Multi-Speciality Hospital & Inter College

One multi- speciality  hospital in 10 to 15 acre land and two residential inter colleges in an area of 20 to 25 acres shall be opened in Greater Noida. Both the colleges and hospital shall be constructed and ready within a period of two and a half years. 

 

 

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AMARAPALI GROUP

Saturday, July 19th, 2008

Arrival of boom in real estate has seen mergence of many realtors/ builders. Among the fore runners, one is Amarapali group. Over a span of 12 years, the group has build scores of residential building, commercial complexes and corporate houses. It is now foraying promisingly into the extremely challenging space of SEZs. This remarkable success of Amarapali group owes to no. of factors namely man, machine and mantra.

  

Amarapali group is head by its chairman / MD Mr. Anil Kr. Sharma, who is great visionary in his own right. After creating a vast repertoire of top class residential projects, malls, SEZs and IT parks, the group the set to take a giant leap by foraying into the high growth hospitality business in the country. In the first phase, the group is going to launch its international class 4 / 5 Stars hospitality projects in the cities of Virindavan, Bareilly, Jaipur, Udaipur, Indore and Greater NOIDA.

                                                                               

 

Courtesy: TOI dtd: - July 11, 2008

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