Unitech to Announce New Projects -
Market Looking out for the Gurgaon Project
With Unitech’s
“Habitat” project taking off at Greater Noida, it is
expected that Unitech shall soon announce more
projects in NCR, including Gurgaon.
The market is already
ripe with rumours that Unitech is going to announce
one or more projects in Gurgaon. Brokers, agents and
banking institutions specializing in property loans,
are allegedly engaging themselves in desperate bulk
SMS and extensive cold calling to beg for cheques
from their clients.
Prevalent information
all over the place estimates the rates to be quoted
any where between Rs.3600/- to Rs.4200/- per square
feet. However, it is expected that the rates are
going to lean more towards the higher side than the
former. The potential areas for the project are
several, but more hopes are being pinned to the
location at South City II plot of Unitech, bordering
Nirvana Country.
Access
Information On Gurgaon Farmlands On The Web Jamabandi.Nic.In
Haryana Government has
taken a leap forward with launch of its website
www.jamabandi.nic.in. The site has been set up to
essentially cater to all those prospective buyers of
farmlands or farmhouses in the rural stretches of
Gurgaon, looking out for information regarding
ownership, location, size etc. of the land they plan to
buy as well as download registration and mutation
documents from the official website. With this site, the
government expects to relieve the buyers from the mean
clutches of patwaries or unorganized property dealers.
The site presently
provides land records of 218 villages out of 289
villages from the documents of the revenue department of
the Haryana Government, from its recently launched
Haryana Land Records Information System (HALRIS)
developed by National Information Center.
Ambani's
SEZ - Special Economic Zone - Near Gurgaon
The Haryana Government has
inked a landmark deal with Reliance India Ltd for
setting up a Special Economic Zone (SEZ) straddling
25,000 acres in Gurgaon and Jhajjar districts and
promising an investment of Rs 40,000 crore from 500
firms, 10 lakh jobs and global competitiveness.
Anil
Ambani, RIL chairman, sees this SEZ to be at par with
the ones in China, Dubai, Singapore and Malaysia. He
also plans to rope in 10 to 15 of the 100 best companies
of the world for this project. With this project, Ambani
forecasts the country to acquire center stage of the
global economy.
This
project shall be the first public-private participation
project of the Reliance India Ltd. that is eventually
headed to translate into unique infrastructure
facilities in the northern region. A Special Project
Vehicle (SPV) with a director from HSIDC and two from
RIL has been set up for this project. The project is
supposed to have its own 2000-MW power plant.
DDA set to
repossess plots Vacant For Over 19 Years
A new policy of DDA is
all set to finalize, which aims at ending the trend
of holding vacant plots for endless years,
(originally) allotted by the Delhi Development
Authority for construction purpose. The policy,
which has already been approved by the Delhi
Lieutenant Governor B.L. Joshi, is likely to be
notified shortly.
The agency has decided
that from now on anyone who is allotted a plot under
either residential, institutional, commercial,
industrial or group housing society category will
have to complete construction within 10 years
failing which DDA will take over possession of land
without giving any further notice. Besides
completing construction in ten years, the allottees
will also have to pay a composition fee from the
second year of allotment of the plot till the tenth
year.
DDA has also set a
deadline of December 2007 for all allottees that
bought plots from the agency 10 years back and have
failed to start construction till date, to complete
construction failing which, DDA will take over the
plot. There are over 200 such plots including
instances where the land has changed hands many
times over after the original allottee sold the
plot.
Rental
rates of Delhi, Gurgaon, & Noida set to overtake Mumbai
With MNCs and all
major business players of India eyeing Delhi and NCR
for setting up their business centers, the property
rates and rental rates of Gurgaon, Delhi and NOIDA
are already on fire. The evidence is noticeable from
the rapid increase in the rents of commercial
properties in NCR (mainly Delhi and Gurgaon) in the
first quarter of the current calendar year, which is
way ahead than the rents in the country's termed
commercial capital, Mumbai. The astounding average
rate of increase has been computed to be 30% in
Gurgaon and Noida, as against the submissive average
growth of 17% to 18% witnessed by Mumbai and the
adjoining areas. According to a report prepared by C
B Richard Ellis (CBRE), between December 2005 and
March 2006, the rental appreciation in Gurgaon, on
the outskirts of Delhi, have been more or less the
same as that in Navi Mumbai, on the Mumbai
outskirts.
Deutsche
Bank study reveals untapped real estate stock market
A recently conducted study
by Deutsche Bank reveals that public equity stake in the
realty industry stands at a dismally low level of 0.2
per cent, while more than 98 per cent of the overall
Indian commercial property market remains in the owners'
hands.
Commenting upon the public equity stake in realty, the
study states that though the Indian real estate sector
is towering new heights, the capital market growth
potential remains largely untapped so far. A majority of
the overall stock market presence of the real estate
sector in India is privately held, while the publicly
traded component of the industry is still in its nascent
stage with investors limited to only a handful of listed
companies, in which promoters hold the majority of the
stake.
But with DLF universal planning to raise more than Rs
12,000 crore through its public issue, the situation
seems to set to improve.
Hindustan Times Foresees
Fizzling out of Gurgaon's Real Estate Upward Spiral
Thanks to
large-scale commercial and
government-sponsored projects, the realty
industry of Gurgaon and Noida seems to be
reaching its saturation point. The
speculators and investors are in possession
of excessive housing stock than they can
sell. On the other hand, the adamantly and
rapidly rising property rates are tending to
discourage prospective buyers and making
them move towards nearby Tier 2 cities such
as Jaipur and Chandigarh. The state
governments of the adjoining areas to
Gurgaon and Noida are more than keen to help
these buyers migrate to their cities with a
hope to repeat Gurgaon success story.
Gurgaon based real estate moguls such as DLF,
OMAXE and Vatika Group have, for example,
acquired large chunks of land in Rajasthan
and floated townships in Jaipur. Smaller
players are also making a beeline to Tier 2
cities.
Investment
Process
Gurgaon real estate market
has recorded an exemplary growth over the years that
builders/ constructers hope to replicate the phenomena
in other lesser lands. Gurgaon has become a name of
status symbol, affordable only by the affluent.
When
looking out for an investment opportunity in Gurgaon,
concerned person is advised to seek a professional help
like ours, to save on his time and effort as well as
avoid getting stuck with any shaky deal.
The first
and foremost step is to find the most lucrative
investment option for you. We immerse ourselves into
your constraints and strengths in all respects of
significance and accordingly zero down to investment
outlets for you. We boast of years of experience in the
property market of Gurgaon with constant association
with financial and administrative institutions over the
years, rendering us well conversant with the legal and
documentation formalities and precautions involved in
any type of property transaction.
The
procurement of land for real estate projects continues
to be lengthy and arduous affair. Often land titles are
not clear, transactions take a long time and tedious
regulatory processes reduce the speed of transactions
and raise their costs. We ensure that the cumbersome and
time-consuming property transactions are rendered easy
and quick for you. We undertake investigations for our
clients as regards the clarity of land titles, unbroken
series of documental proof establishing changing hands
of the property in question and no inadvertent transfer
of pending over dues of the existing owner, in our
client’s name.
Getting
clearance and approval of housing and real estate
projects is a lengthy process as there are several
agencies involved in giving clearances. Further, every
state has its own set of clearance procedures. With our
clarity on the legal requisites and the time required
for all the clearances, we render the process short and
manageable for our client.
