BDI Ambaram

NRIs considering investment in commercial realty sector

Photo Courtesy: Internet 

Delhi/NCR:  Non-resident Indians (NRIs) are evincing interest in commercial properties besides residential ones too. Earlier, the high-end, luxury residential homes were the major key of attraction for NRI buyers.

 "Slowdown in the market in the past few years has considerably affected the return on investment from residential projects. Owing to the imminent slowdown in the residential market, especially luxury segment, NRIs looking to invest in Indian real estate are now diversifying their asset exposure and considering investments into commercial properties,” says Divya Seth Maggu, Associate Director (valuation and advisory services) at Colliers International India.

In fact, NRIs still have several advantages in both categories. The low residential prices and certain incentives in the form of discounts are also available to serious buyers.

"RERA has ensured that investment into residential property has also become much safer, and the risks previously attached to home purchase have thereby been moderated. Also, considering that many NRIs will return to India at some point, owning a home in their respective cities is a very sound investment for the future,” says Santhosh Kumar, Vice-Chairman of ANAROCK Property Consultants.

Developers state that this is the perfect time for investment in the realty sector "It is a great time for NRIs to invest in the residential real estate market as there has been a significant drop in the property rates after demonetization. Moreover, regulatory changes like the implementation of GST and RERA have made the market more equitable and real estate purchase simply by bringing in better accountability and transparency,” Harinder Dhillon, Vice-President (sales) of DLF, said.

"NRIs are now diversifying their asset exposure and investing more into commercial properties as it offers a longer lease period, assuring a steady income. When you invest in the commercial real estate, it’s not just the building itself that has meaningful intrinsic value, it also includes the land," Ravish Kapoor, Director of Elan Group, said.

Due to high demand from corporate, commercial office space vacancies has almost halved in the past six years. Even, in some prime locations in cities like Bangalore and Pune, the vacancy has reached even single-digit levels.

"The launch of Real Estate Investment Trusts is expected to further attract investments in office properties going forward. In contrast, the residential real estate is facing challenges of high inventory pileup, low consumer interest and sales. Stagnant prices on the residential front and slowdown in new launches have pushed affluent NRI investors towards commercial properties," Divya Seth Maggu said.

Indian Highway

Construction Work on Kherki Daula bypass Route to End in a Month

Photo Courtesy: Internet 

GURUGRAM: The construction work on a four- lane road (5kms) on the eastern side of the Delhi-Gurgaon expressway is in progress to connect the Southern Peripheral Road (SPR) with NH8. This road bypassing the kherki Daula toll plaza slated to be completed by Huda within the next month. However, the construction of 400- meter stretch road between Sector 76 to Sector 77 is yet to be started.

This construction of new road got stalled due to some controversies. Millennium City Expressway Private Limited (MCEPL), the company managing the Kherki-Daula toll plaza, has raised objections over the road with NHAI. The company wrote a letter to NHAI on May 24, stating the loss of Rs 17 lakh daily after its opening, saying “If Huda’s four-lane road is connected with NH8, bypassing the Kherki Daula toll plaza, minimum revenue and maximum traffic would be diverted through the four lanes.” The road will merge with NH8 a mere 300 meters away from the toll plaza.

As per the MCEPL, it cannot stop the construction of this road as it’s in some other area and some other agency has made it. For this the MCEPL has written a letter to NHAI.

According to the Huda official, apart for the 400-metre stretch between Sector 76 to 77, the road is complete. It has assured that the road will be operational by next month with only sewage work left in the area. Apparently, the deadline for this project was July.

 The new road constructing will connect with SPR via the road dividing sectors 75 and 75A, meet NH8 near Sector 83 via the road dividing sectors 77 and 78, and pass through sectors 76 and 77. After these new sector roads are operational, commuters from Golf Course Road and Faridabad will be able to reach Manesar through SPR, without a need to cross the Kherki-Daula toll plaza. The residents of new sectors 80-90 get benefited as they will reach easily to Golf Course Road, Sohna Road, Faridabad Road and other parts of Gurugram.

Developers have also welcomed the move.  Ravish Kapoor, Director, Elan Group, said, “The road will become a lifeline for lakhs of commuters coming from Faridabad and nearby areas to Gurugram, as they would be able to reach Manesar without having to cross the Kherki Daula toll plaza. Additionally, it will give a boost to several realty projects being developed along the SPR by enhancing the connectivity quotient and ease of access.”

Similarly, Rahul Singla, director, Mapsko Group, said, “Commuting through Delhi-Gurgaon will become easier for lakhs of commuters who travel on daily basis. Once complete commuters from Golf course road and Faridabad can directly reach Manesar through the Southern Peripheral Road, without needing to cross the toll plaza. But the shifting of the Kherki Daula toll is the first most important thing; the toll has been a big hurdle to the commuters, causing massive perennial traffic jams. Residents, industrialists, home buyers and others struggle through the traffic jam at a cost of time, energy and money every day. Toll operators should also focus on selling Tags in order to bring down transaction time; this will eventually decrease the above-mentioned problem”.

Suncity World School Performing At Biksheks 140th Anniversary Celebration 2

Gurgaon students represent India at Bishkek’s 140th-anniversary celebrations

-Suncity School was the only school from India to be selected on the occasion
 
-Students of Suncity School enthrall audience by performing various folk dances of India
 
The students of Suncity School represented India at 140th-anniversary celebrations of Bishkek, Kyrgyzstan. Suncity School was the only school from India to perform at the Festival of Indian Dances at the Ceytek Auditorium to commemorate the 140th anniversary of Bishkek on 29th April.   A team of 20 students showcased India’s diversity on the occasion by performing folk dances of different parts of India. 
 
They were invited by Ms. L. Savithri, Indian ambassador to perform at the occasion. She was all-praises for their performance.
 
They also performed at International Children’s Folklore Festival at Bishkek, Kyrgyzstan from 25th – 1st May,201. It was the only school from India to be selected for representation under the ‘Rising Stars Category’ at the festival. Among other countries that participated on the occasion were like Turkey, Hungary, Italy, Sierra Leone, Russia, Kazakhstan and Kyrgyzstan.
 
The team accompanied by two teachers and Principal Rupa Chakravarty also interacted with the students of the Kyrgyzstan Russian Slavic University and visited the Kyrgyz National Academic Opera and Ballet Theater and the Kyrgyz National Philharmonic named after Toktogul Satylganov.
 
Suncity School was selected to participate at Bishkek after their  performance at Udbhav Festival in Gwalior in October 2017. They were selected under the Rising Stars Category at Udbhav Festival which led to their selection for Bishkek.
 
Udbhav Festival is an international event held annually in Gwalior. 15 dance troupes from eight states of India and 10 local teams participated from Sri Lanka, Bulgaria, Kyrgyzstan, Nepal and South Korea.
 
On the occasion, Principal Rupa Chakravarty said: “It is an honour to represent India at such a prestigious forum. India being a cradle of various civilizations, is an epitome of diversity. Such events are a great platform to showcase the cultural heritage. It will also go a long way in sensitizing our children towards preserving our cultural values.” 
 
“It was a one- of- a- kind experience to represent India at a global forum. Such opportunities come once in a lifetime and it was an honour to showcase the cultural diversity of India. I am thankful to Suncity School for giving me this opportunity,” said Ananya Punia, a Class VII student of Suncity School. 
 
“I am honoured to represent India at this international stage. It was even more heartening that our performance was appreciated by all,” said Maahi Kapoor, another student of Suncity School.
 
Didhivi Ganesh, a student of Suncity School said: “It was a wonderful experience to represent India at an international event. This is the first time that I ever participated at an international forum and this will remain an unforgettable experience for me.”
The city of Bishkek in Kyrgyzstan recently commemorated its 140th anniversary by a carpet of flowers, carnival and fireworks.
MyRealty.am 2

1 year of RERA: the sector on a way to be regularized

Photo Courtesy: Internet 

Recently RERA (Real Estate Regulation and Development) Act, 2016 completed a year on May 1. Although certain sections of the Act were introduced on May 1, 2016, it came into force in its entirety on May 1, 2017.

Before RERA, there was no real estate regulator in the country due to this many builders took homebuyers for a ride. Delays were rampant and homebuyers usually did not have a reliable source to address their grievances.

Many home buyers believe it has given proper shape to the sector and on a positive route. Most states and Union Territories (UTs) have followed a quasi-implementation route.

“RERA has brought us a ray of hope; it guarantees timely completion of projects and delivery to the buyers. This mean, we need not to worry about the project”, said Shubham Ahuja, a homebuyer.  

“The provision which says that a developer cannot launch or advertise a project before registration with RERA haring information project plan, layout, government approvals and etc: again work in favour of the buyers,” added Ahuja.

On the other hand, the developer also believes it was a positive move which will reap better result in the coming time ahead.

 “The act ushered a path for the developers to regain the trust of its buyers. The changes brought in by the implementation of RERA have allowed developers to freely attract buyers towards projects which have occupancy certificate. The focus now is on end-users which in turn have added importance to quality over quantity. Developers across the real estate industry are strategising their business portfolio to align with the emerging realty of RERA."- Mr Ravish Kapoor, Director, Elan Group

“The Real estate regulatory act (RERA) is India’s first serious attempt to regulate an industry not known for its ethical business practices. The act is changing the entire landscapes of the real estate and redefining the process of how sales happen in India. Every segment associated with it is unlearning the old ways of operating and aligning to the new terms/process which are RERA specific. This has boosted the buyers confident and has brought transparency in the sector with encouraged investment.”-Mr. Rahul Singla, Director, Mapsko Group.

As per Knight Frank report, currently, more than 25,000 projects have been registered under RERA across India.

 “The developers are now getting more careful in promising something and there are more written commitments than verbal promises.Many states have registered themselves, while several states still need to notify the rules under the Act. However, the act will majorly ensured that there is a flow of institutional funds, making the end-user the real winner and protect them from unscrupulous activities. RERA, along with GST will make sure that the market is largely driven by end users. At BDI, all our upcoming projects are RERA registered to benefit our buyers. – Mr. Ssumit Berry, Managing Director, BDI Group

It is hoped that the act will make real estate purchase simpler, by bringing in better accountability and transparency, provided that states do not dilute the provisions and the spirit of the central act.

New Gurgaon 600x386

New Gurgaon: An emerging residential and commercial realty destination

Photo Courtesy: Internet

The city is well-connected to three major highways, has a good number of affordable properties and future growth prospects

New Gurgaon is fast emerging as a realty destination in the NCR as the city is beautifully stoked by commercial as well as the residential properties. Although delay in the completion of Dwarka Expressway has resulted in the slowdown of the work, this has not affected much to the development of the area.

“Sectors close to the national highway are registering good movement. People working in the offices located at National Highway Toll Plaza prefer this area due to the proximity to their office location. Affordability is also one factor that is driving demand in this area. Social amenities like local markets, schools, etc are developing fast with families living in this newly developed area,” says Surabhi Arora, Senior Associate Director (Research) at Colliers International India.

New Gurgaon is well-connected to three major highways which are National Highway 8 (NH8), Kundli–Manesar–Palwal Expressway and Dwarka-Gurgaon Expressway, which makes this place an ideal destination for commercial as well as residential.

Many developers have their projects here that have delivered or are to deliver their projects in this area.

Hariender Dhillon, VP (sales) at DLF, says: “New Gurgaon has emerged as a preferred choice in the Delhi NCR for buyers in the last few years. The area is strategically located between Manesar, Gurugram and Delhi with direct connectivity to NH-8. The spate of recent infrastructure developments in the area like Southern Peripheral Road (SPR), Dwarka Expressway, and Kundli-Manesar-Palwal Expressway, once complete, will bolster connectivity. With significant habitation even today, the occupancy rates in the zones are expected to increase rapidly with the new infrastructure developments fully in place.”

The city has a number of good educational intuitional which is helping the population in around the area to swell properly.

"There is an increasing demand for office spaces which has led to the growth of business centres, virtual offices, as well as co-working spaces. Speaking of Delhi NCR, New Gurugram region and Dwarka Expressway are set to boost both in terms of office spaces as well as retail."   - Vineet Taing, President, Vatika Business Centre 

 

“A recent report by the real estate consultancy Knight Frank has identified New Gurgaon as one of the top 10 residential destinations in India, from an investment point of view, up to 2020. The region has many ready-to-move-in apartments and other social infrastructure, hence swelling its demand for the real estate sector,” Rahul Singla, Director of Mapsko Group says.

Availability of all the above-mentioned factors in this city makes this place as the newest hotspot of realty destination