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Gurugram-e-way

New Gurugram e-way to take you to Sector 56

Golf Course Road’s ongoing makeover into a 16-lane expressway will now stretch till sectors 55-56, incorporating an extra 1.3-km stretch connecting Southern Peripheral Road Gurgaon.

Golf Course Road’s ongoing makeover into a 16-lane expressway will now stretch till sectors 55-56, incorporating an extra 1.3-km stretch that will take it all the way to the Southern Peripheral Road (SPR). Under the modified project plan, the road between AIT Chowk and Golf Course Road’s junction with SPR will be upgraded and widened. This stretch is important because Rapid Metro will soon begin its Phase 2 operations and its terminal station is also in sector 55-56, which will make the area a crucial connectivity point.

The development came in the wake of the visit of additional chief secretary of department of town and country planning (DTCP), SS Prasad, to Golf Course Road last Sunday , following which he had directed Huda to extend the 16-lane expressway up to SPR.

The Haryana Urban Development Authority (HUDA) administrator Yashpal Yadav told TOI on Thursday the stretch was left out during the planning of the 16-lane expressway project.

“But now we want to extend the expressway till sectors 55-56 of Gurgaon. The extension of the expressway will ensure smooth flow of traffic and avoid jams,” he said.

The development came in the wake of the visit of additional chief secretary of department of town and country planning (DTCP), SS Prasad, to Golf Course Road last Sunday , following which he had directed Huda to extend the 16-lane expressway up to Southern Peripheral Road (SPR).

“Following his direction, Huda has started working on the extension of this road.The portion of the road will be constructed along with the ongoing work on the 16-lane expressway,” said a senior Huda official.

Highway Saathi to come in new avatar

National Highway-8 users will soon get an interactive app to guide them through their journey. The highway concessionaire -Millennium City Expressways Pvt Ltd -is planning to launch a new version of the Highway Saathi App by December.

The new version will cater to commuters travelling on the 42-km stretch between Delhi’s Rao Tula Ram Marg and Manesar. It will be based on the format of interactive information providers.

The app will be helpful to drivers while on the journey, especially, when they have more than one query. According to the Concessionaire, the updated version of this app will converse with users to answer their questions.

Trials for Kalindi-Botanic Metr

Trials for Kalindi-Botanic Metro to start before Diwali

The under-construction 3.9-km link between Kalindi Kunj in Delhi and Botanic Garden Metro station in Noida is likely to be ready for trials by Diwali.

The under-construction 3.9-km link between Kalindi Kunj in Delhi and Botanic Garden Metro station in Noida is likely to be ready for trials by Diwali. According to DMRC officials, though they are targeting October 30 for commencing the trials, they could well be launched much before that. The track is likely to be ready for commissioning by January 2017. The original target for completion of the track is March 2017, while trials were to start by December 2016.

During trials, the interface of the Metro train, which will be driverless, will be checked to ensure that there is no physical infringement with civil infrastructure during the movement of the train on the track and also testing of various subsystems of coaches shall be done.

Officials said that civil work on the stretch has been 100% completed. Viaduct or laying of the track has also been completed 100%. Installation of the new signaling technology to be implemented on this corridor and Communication Based Train Control (CBTC) is being undertaken and should be completed in the next 10-15 days. While masts for the Over Head Electrification (OHE) is 100% complete, the electrical lines are being put into place. This work is about 60% done and should be completed before the target date, officials said.

Work on the track kick-started in December 2014. Finishing work along the stations along the route will be carried out once the trails are over and the line is ready for the public.

The Kalindi Kunj-Botanical Garden track will connect to DMRC’s magenta line. With this track in place, Noida will have two colour coded lines—Blue line and Magenta line—operating out of the city. Once this Rs 845 crore corridor is ready, commuters will no longer have to go to Rajiv Chowk Metro station to take the yellow line (Huda City Centre to Samaypur Badli) as the corridor will form a ringed route and connect Botanic Garden station with Hauz Khas station via Amity University, Kalindi Kunj and Kalkaji temple station.

According to marker expert, the advent of new metro line will uplift the market sentiment. The property prices along the corridor is expected to grow significantly. The smooth connectivity and better civic infrastructure always put great impact over home prices in the area.

 

flats-possession

Possession drive by builders to accelerate Delhi-NCR realty market

The real estate developers in Noida and Greater Noida are set to deliver around 45,000 housing units by the end of March 2017, bringing sigh of relief to many home buyers.

The real estate market of Noida and Greater Noida is riding of new wave of realty growth where developers are putting their maximum efforts to deliver residential units by the end of this financial year to the customers. This drive has been welcomed by real estate fraternity. According to market experts, this move will help in reviving current market sentiment.

According to Deepak Kapoor, President CREDAI Western UP a close to 45,000 flats will be delivered in Noida and Greater Noida by March 2017. He said, “We have compiled database on the basis of inputs from the developers operating in Noida and Greater Noida. While many of them are giving possessions, the remaining will hand over the units by March 2017.  Already 25,070 units have been delivered by now and approximately 45,000 more will be ready for handover by the end of this financial year to meet buyer’s demands. ”

Most market experts believe that this drive is influenced by a series of government decisions and laws passed in last few months. The RERA Act 2016, has increased the interest of genuine buyers which ensures strict obligations on quality, material and coupled with timely delivery of the units. Ministry of Housing and Urban Poverty Alleviation has imposed 11 per cent interest as penalty that developers have to pay for delay in possession of housing projects. However, this rule is only applicable to all Union Territories that do not have their own legislative bodies. The new resolution in Real Estate Investment Trust (REIT) rule gives freedom to investors to invest more in under-construction projects.

The new exit policy which has been sent to UP government to take a final call by Noida and Greater Noida Authority will boost builders to complete their ongoing project nearing completion and give possession on time. Experts say these rules will benefit developers in broader way in coming future, as the fear of penalty will push them to complete the project within time. Shyam Singh, executive at Antriksh India, which has many ongoing residential projects across Delhi-NCR regions says, “Antriksh Group has delivered over 3,900 housing units in Antriksh Golf View 1, Golf view 2  in past one year and plans to deliver over 4,000 units in next one year. Projects that are 60-70% complete, speed up the construction to meet the possession promise on time”.

Avneesh Sood, Director, EROS Group says, “Our project Eros Sampoornam is in Greater Noida West. The project will be delivered in 4 phases. We will be delivering around 1768 apartments this year itself as committed to our customers.”

Ashudeep Batra, ED- Exotica Housing says, “In first phase of Dreamville, we will be offering possession of 744 apartments till December 2016. Launched in 2010, our plan is to offer possession to families from this festival season till year end. Our T4, T5, T6, T7, T8, T9 and T10 are ready and soon we will obtain completion certificate as it has been applied long back. “.

Suresh Garg, CMD- Nirala World says, “Nirala World will be offering possession of 1948 apartments in Nirala Estate project at Gr Noida West till 2016 end. We are ready to offer possession in all 18 towers along with club house, pool, park, parking, open gym etc. Soon we will receive completion certificate from authority and assure our buyers to get finest quality, products, equipment and finishing in the region. “.

According to Alok Srivastava, assistant general manager at Gaursons “Gaur has given possession of around 6,000 flats in Gaur City, in the last six months and another 4,000 unit is ready to be handover to the customers in next couple of months in same project”.

Apart from these major realty players of Delhi NCR regions such as Supertech, Amrapali, Arihant, JP Group, Gulshan Homz, Ajnara India etc. have lined up their projects and speed up their work to deliver around 45,000 apartment by the end of this financial year.

Jayanagar: A Promising Real Estate Market in Bengaluru

Jayanagar: A Promising Real Estate Market in Bengaluru

Jayanagar – a prime residential area located in south of Bengaluru – has a high supply of residential and commercial properties. Here’s sneak peek into this realty cluster.

Jayanagar is an established residential and commercial hub in Bengaluru city. The layout consist of ten blocks in which third and fourth blocks are only commercial hubs, while other blocks are mostly residential. The development and growth of this locality is driven by establishment of IT/ITEs firm in its vicinity.

Jayanagar has remained a well-planned residential block coupled with good civic infrastructure right from the beginning of its inception. Apart from the good infrastructure and excellent connectivity, it is located amidst BTM layout, JP Nagar, Banashakari and Basavanagudi. Happykeys tells you why Jayanagar is a prime real estate hotspot in Bengaluru .

Commercial hub in the vicinity

Although most blocks of Jayanagar are purely residential but its third and fourth block makes giant commercial hub of the city. Garuda Swagath Mall and Jayanagar Shopping Complex are two popular shopping zones in this area. The locality has many well-known stores like Food Bazar, Namdhari’s Fresh and Food Bazaar etc. The Jayanagar BDA Complex is an important commercial market in the locality hosting bookstalls, banks, restaurants, vegetable and fish markets, and also a theater.

Finest social infrastructure

Apart from shopping malls and entertainment outlets, Jayanagar has a number of reputed public schools, colleges, multi-specialty hospitals in the area too.  Some of the popular hospitals like Sanjay Gandhi Hospital, Jayanagar Orthopedic Hospital and Nethradhama Eye Hospital are located in the locality to cater health needs of the residents.  Institute of Business Management and Research (IBMR) and RV Dental College are some of the reputed educational institutions in the area.

Smooth connectivity

Seamless connectivity is a high point for this locality. The locality enjoys bus service of Bangalore Metropolitan Transport Corporation (BMTC) connecting to almost all the major points in the city, including KR Market, Majestic, and Bangalore International Airport. Bangalore City Junction – a major railway station of the city is located only about 7 km from Jayanagar. Kempegowda International Airport is a bit far away, at 40 km from Jayanagar.

Supporting factors for realty growth

Jayanagar is situated in the vicinity of Central Business District (CBD), which is the region lying within the 6 km radius from state Legislative Assembly, has been a major catalyst to real estate and infrastructure growth in the area.

Property price appreciation trends

Although the average price of a residential property have increased by 2 – 10 per cent in the past 48 months, yet there is high demand for residential houses in the locality. The average price range for all residential property here is between Rs 5,600 – 10,175/ per sq ft.