NCR’s Commercial Rental on Fire
Commercial rentals across Delhi-NCR region seen an appreciation in Q3-10: 99acres.com
A look at the commercial rentals of key localities of Delhi, show that there has been a considerable increase in rentals across all localities
Commercial rental prices of key hubs of Delhi, Noida, Gurgaon have increased when we compare rental values of Q3-10(July-Aug-Sept) over Q3-09: says a study by 99acres.com, India’s no1 real estate portal.
Commenting on the same Vineet Singh, Business head, 99acres.com said “As far as the commercial rental trends are concerned, I see rentals increasing over a period of time. Renting of commercial space is preferred vis a vis buying, and lack of new supply coming in immediately in the Delhi- NCR region will result in rental values continuing to escalate.”
A look at the commercial rentals of key localities of Delhi, show that there has been a considerable increase in rentals across all localities. Connaught Place which is the central business district of the city saw rentals escalate by 100% from 75 PSQF(per square feet) in Q3-09 to 150 PSQF in Q3-10 and Greater Kailash which is one of the prime localities of South Delhi has seen rental values upswing by 18% over the same time period. As noted from the below table, Jasola, Nehru Place and Okhla which are key commercial hubs of the city have seen uptrend in rentals within the range of 40% and 45% over a period of one year.
Also, commercial rentals in the satellite towns of Noida and Gurgaon saw increased rentals over a period of one year. Sector 18 in Noida saw rentals move up from 90 PSQF in Q3-09 to 110 PSQF in Q3-10 and Sector 2 and Sector 63 saw massive movement, with rentals moving up by 50% and 66% over the same time period.
Udyog Vihar and Sushant Lok in Gurgaon saw commercial rental values move up by 20% and 18% respectively in Q3-10 over Q3-09 while MG Road and Golf course road saw rentals upswing by 11% and 6% respectively over the same time period
Thus, looking at the rental trends of key commercial hubs in the Delhi-NCR region we see that the commercial market has bounced back and the real estate scenario will remain upbeat in the coming months.
Source:
http://www.indiainfoline.com/Markets/News/Commercial-rentals-acrossDelhi-NCR-region-seen-an-appreciation-in-Q3-10-99acres.com/5001077620
Gurgaon Metro Reduces Road Traffic
City roads breathe easy, thanks to Metro
If statistics are anything to go by, the arrival of Delhi Metro to Gurgaon has helped reduce traffic on the Delhi-Gurgaon expressway. According to officials, there is a decline of 15,000 vehicles at the toll plaza of vehicles entering Gurgaon. The traffic police could not have been happier. “I would say the Metro has taken away 5% of our customers which means 15,000-20,000 vehicles per day,” said a official of Delhi Gurgaon Super Connectivity Limited, a subsidiary of DS construction who is the concessionaire of the expressway.
The impact of Metro is such that the BPOs and multinational companies have replaced cab service with shuttle services up to Metro stations for their employees from Delhi.
The ridership on Gurgaon's five stations increased from 35,000 per day to 1.14 lakh. The busiest station in Gurgaon is Mehrauli-Gurgaon road, which is used by at least 30,000 passengers everyday.
In NCR, Flats change hands twice before possession
From booking to possession, a flat is sold twice in NCR
GURGAON: From the time of inviting bookings for a flat to the stage where the developer gives the final possession, a dwelling unit changes on an average two owners in the NCR, claimed property gurus. Ashutosh Limaye, local director, strategic consulting, Jones Lang LaSalle, India, explained: If we consider the legitimate deals, approximately 25 per cent buyers are actually investors. Though there are no specific data available, out of these, close to 25 per cent investors are those who do it for a short term while the rest wait to get possession. Also, there might be cases where developers offer to buy their units back when the market is on a positive curve. This kind of change of ownership could also mean some fee paid to the developer, though not known formally.
Gurgaon-Manesar Corridor to have world-class infrastructure
Gurgaon-Manesar corridor promises world-class infrastructure
fe Bureau
Posted online: 2010-05-10 23:31:42+05:30
Chandigarh In a bid to enhance the Gurgaon-Manesar corridor to overshadow its NCR counterparts in providing world class infrastructure and living standards, the state government has planned multiple development activities in the region.
The authorities are busy constructing expanded ways for convenient navigation and seamless connectivity.
In line with these expansion plans, authorities are providing for additional road links starting before the Toll Plaza leading towards Gurgaon-Manesar urban complex. These links are the 150m wide Northern Peripheral (NPR) road and 90m wide Southern peripheral road (SPR) both roads will additional 30m Green Belts on each side.
Land for these roads stands acquired by HUDA and construction work is already under progress. The 150m wide road link between Dwarka in Delhi to Palam Vihar of Gurgaon is also in the making, thus ensuring closer proximity to the Airport and less traffic congestion.
In the new sectors at the Gurgaon-Manesar urban complex, the width of all sector dividing roads has been kept at 60m as compared to 30 m in the existing sectors. Moreover, land for 60 m wide sector roads from Sectors 58 to 67 stand acquired and work on construction for these roads is underway.
Gurgaon Peripheral Roads (NPR n SPR) Cleared
No Progress Road: NPR to miss second deadline
HT Correspondent, Hindustan Times
Gurgaon, December 03, 2012
Eight months after it missed its first deadline, the much-hyped Rs. 57 crore Northern Peripheral Road (NPR) project is still struggling to reach the finish line even as the second deadline looms round the corner. The 18-km-long road, also known as Dwarka Expressway, is bound to miss the
December 31 completion deadline — thanks to the lackadaisical attitude of the Haryana Urban Development Authority (Huda).
The 150-metre-wide road will connect Dwarka in Delhi and Kherki Daula on NH-8.
Of the 18-km stretch, the bituminous work is complete hardly on eight km area. Moreover, a four-km stretch is entangled in a legal dispute.
"We still have 28 days and we hope to complete at least five km. I have asked the contractor to speed up the work and complete the stretch by end of the month," said Pankaj Kumra, chief engineer, Huda, the custodian authority of the project.
When questioned about the reason for the delay, the chief engineer said, "The contractors are facing law-and-order problems on the NPR, mainly on the portion under litigation. The workers are having difficulty as many houses and establishments have not been removed for the work.”
The delay has shattered the dreams of tens of thousands of buyers and builders whose money is invested in hundreds of projects coming up along the NPR. The project was awarded to JSR Construction Pvt Ltd and Indiabulls Construction Limited on April 1, 2011 and its first deadline was March 31, 2012.
New Link Road between Gurgaon and Vasant Kunj
To free MG Road, Vasant Kunj slip road cleared
15 Jan 2011, New Delhi
In a move that is likely to make driving smoother for Vasant Kunj residents and ease traffic on the Mehrauli Gurgaon Road, the National Highways Authority of India (NHAI) has decided on a slip road connecting MG road with Mahipalpur-Andheria Morh road.
The proposed road will cut across the Ridge area lying behind the Chattarpur Metro station. The Ridge Management Board, which met on Wednesday, decided to give the plan a no-objection certificate.
Gurgaon Becomes First NCR City to have Dial-an-Auto
Blue autorickshaws to hit Gurgaon roads
Sanjeev K Ahuja sanjeev.ahuja@hindustantimes.com
GURGAON:
The public transport system in Gurgaon has got a major boost in the last few months and interestingly, most of the initiatives have been taken by private entrepreneurs.
NCR Orbital Trains along Peripheral Expressway
Govt planning 'orbit railway' around NCR: Hooda
Last Updated: Sunday, April 01, 2012, 21:53
Palwal: Haryana Chief Minister Bhupinder Singh Hooda on Sunday announced that an 'Orbit Railway' that will connect towns falling around three sides of Delhi in the state's NCR region is being planned.
Haryana Metro Rail Corporation has already been constituted for this purpose, he said while addressing a Nav Nirman rally here.
Among other things, he also announced Rs 10 crore for the development of Palwal villages and Rs 5 crore for Palwal town.
A sum of Rs 822.43 crore has been provided for Palwal district, under which work on various projects like a Mini Secretariat, a 100 bed hospital and a judicial complex is in progress, he said.
On the demand of a university, Hooda said that sanction had been given for opening a private university in the district.
A new college building at Hodal, a modern sports stadium and Kisan Seva Sadan will be built in Palwal, he said, adding that Palwal Municipal Council's limit will be extended to cover colonies falling on the outskirts of the town.
He also asked the Deputy Commissioner of Palwal to prepare BPL Cards for all deserving families.
On farmers, Hooda said that those who pay borrowed amounts on time were being provided loans at 4 per cent interest rate.
PTI
Orbital trains to make NCR more accessible
Noida, November 20, 2010
After Metro and the proposed high-speed trains, gear up for Orbital trains. Serving commuters in an orbit, these trains will provide greater connectivity between Delhi and NCR areas.
Linking Metro with soon-to-be-operational high-speed trains, this facility will also cut down on travel time.
NCR Realty Prices Affordable?
Experts feel realty could correct soon
If you are looking for a decent two BHK flat in the national capital, you have very dim chances of getting one for less than Rs 1 crore.
This is what your property broker would most likely tell you.
"I was looking for two bedroom set in Delhi and Noida for the past six months. But even with a budget of Rs 60 lakh I could not buy a flat for myself. All I was offered was the remote areas in Greater Noida, without proper infrastructure or connectivity," Nitin Agarwal, a senior executive with an auto company said.
In the last six months, home prices in all major metros have gone up very sharply putting it out of reach of the common man.
Gurgaon Private Metro- Rapid Metro Rail Gurgaon (RMGL)
फौलादी पिलरों पर दौड़ेगी रैपिड मेट्रो
24 May 2011, 0400 hrs IST
पूनम गौड़ ॥ डीएलएफ
रैपिड मेट्रो फौलादी पिलरों पर खड़ी होगी। इसका निर्माण कार्य आगे बढ़ाने के साथ ही मेट्रो ने पिलरों के 5 तरह के डिजाइन का चयन किया है। जमीन और जरूरत के हिसाब से इन पिलरों का निर्माण किया जाएगा। करीब 7 किमी लंबी इस मेट्रो में 300 पिलर बनेंगे। इनमें से 197 पिलर अलाइनमेंट के लिए और 103 पिलर स्टेशनों के लिए बनेंगे। मेट्रो प्रवक्ता सर्वेश तिवारी का कहना है कि ज्यादातर पिलर सर्कुलर शेप के होंगे। लेकिन और भी कई शेप के पिलर बनाए जाएंगे। हर शेप के पिलर की अपनी विशेषता होगी।
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NCR Top Residential Hotspot for Investment
Many cities in the country, after the slowdown, are once again in the spotlight for the good investment potential they offer in the mid to long term
The only segment to emerge almost unscathed from the turmoil that the real estate sector underwent during the slowdown was the residential sector. Its resilience in the face of negative global cues was as much a result of the latent demand for affordable housing in India as the large share of the Indian real estate pie that the residential sector holds.
As with office space and retail malls, residential property did, to a lesser degree, suffer the effects of the global downturn in 2008 and 2009. However, unlike its counterparts, the residential sector has begun to show signs of stability in many markets, and even recovery in certain cities. Whether this trend will continue depends in large part on economic factors (mortgage rates, GDP growth, labour market stability) and on prudent decisions by developers on issues relating to pricing and quality of products being offered.
Jones Lang LaSalle Meghraj Research conducted an analysis of residential markets across India to help identify investment hotspots for retail investors. While abnormally large returns can be found in specific projects throughout the country, the analysis was limited to India's seven largest cities due to high residential demand from their large populations, relatively higher transparency levels and presence of premium regional and national developers.
The top ten cities were Gurgaon, Mumbai, Noida, Pune, Bangalore, Chennai, Hyderabad, Kolkata, Ahmedabad and Kochi.
Indians Prefer NCR/Delhi to Buy House
The real estate market in India continues to be an end-user market. However as far as investments are concerned, Delhi, Mumbai and Hyderabad are the top three most preferred real estate investment destinations in 2010, nationally. According to a recent survey, ‘Realty Trends 2010’ for Indian metros and Tier II cities by web portal Makaan.com, the realty sector in 2010 is going to be driven by end-users. Intere-stingly, the market on a whole is buzzing with a lot of activity.
As per the survey findings, amongst the respondents, the national capital tops the chart with 34 per cent buyers wanting to buy a house here. This is followed by Mumbai with 28 per cent interested buyers nationally and 11 per cent each in Bengaluru and Hyderabad. The survey also reveals that due to recession and fluctuating property prices, property seekers were shying away from making a property purchase last year, but with the improving economy and slightly stable property prices, property seekers are ready to jump into the market this year. It’s interesting to know that most buyers, who are interested to buy a house, this year, want it for self-consumption. This confirms the fact that speculators, which drove the real estate boom from the years 2004 to 2007 are more or less out of the market. And even the ones who are willing to invest at this time are long-term investors.
NCR/Delhi Leaves Maharashtra Behind
NEW DELHI: Delhi has quietly become the new Bombay as Mumbai gets busy tilting at self-made windmills. For the first time, Delhi, along with its satellite, Gurgaon,has overcome the entire Maharashtra in terms of the number of registered firms.
According to data from the Registrar of Companies (RoC), around 44,000 new companies were founded in the national Capital region (NCR) in the first nine months of the financial year, which is four times that of Maharashtra. The gap could widen if the numbers for Noida, the third member of the NCR triad, are factored in.