Everyone has a strong view on India’s residential real estate market. Currently, most people expect prices to crash. I disagree. I believe that while prices will – at worst – continue falling. I don’t think they will ever crash overnight to a panic-led collapse. Real estate is going through a painful business down-cycle, which will also end at some point of time. Those expecting an overnight crash any time soon will be disappointed.
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Here’s Why: An Outlook
• The real estate sector is expected to touch US $ 180 billion by 2020 in India.
• The Construction development sector of India has received FDI equity inflows of US $ 24.1 billion in the period April 2000- June 2015.
• In August 2015, the Union Cabinet approved 100 Smart City projects in India.
• Government has raised FDI limits for townships and settlements development projects to 100%
• Real estate projects under SEZs are also permitted to 100 per cent FDI.
• Under the Union budget 2015-16 government allocated US $ 3.72 billion for housing and urban development.
• Government has also released draft guidelines for investments by REITs in non- residential segment.
1. Too Big to Fail !
There are simply too many vested interests in real estate to allow it to slip into panic-led chaos. Politicians, real-estate developers, banks, NBFCs– all of them have too much at stake. Then there are hard-working, salaried employees paying EMIs. This is an industry which reaches a majority of India’s population. Like Wall Street in the USA, India’s real estate industry is too big to fail. At worst, it might see a Lehman-like moment. A few builders will vanish but, as Wall Street figured out, a few casualties – like a Lehman or an AIG – are acceptable collateral damage in the overall scheme of things. But the Government will cobble together a bail-out of sorts. Builders will be rescued, homes will be saved.
2. Today vs Tomorrow !
There are two facets to every situation if today there are uncertainties then tomorrow there would be opportunities to overcome them. Today if the current sentiment in real estate is inert because of uncertainty of security of capital invested in context of capital appreciation then tomorrow stands with the realty sector because of its buoyant nature which would certainly overcome this momentary phase. There have been positive signals in terms of Inflation which has been falling for the past one to two months and the RBI has hinted on cutting interest rates further if the situation is maintained. The economy is recovering and government too has taken steps to support the real estate industry. The seeds have been sown in terms of key policies by government so that Indian realty can stand tall like a global real estate powerhouse of tomorrow.
3. Evergreen Sector
The demand for homes is something which is here to stay. It is eternal! One always needs a space to dwell. Looking at the current scenario where a segment of second time buyers are cropping up one can’t say that there would be slack in the sector in the long run. The demand for homes is ever growing giving a boost to the supply of property in the sector.
Every business sector witnesses uncertainties on the sidelines of unique and integral economic complexities to which Indian real estate is not an exception. Real estate is an essential ingredient in formation and growth of any economy. There is a direct relationship between growth of businesses and economy which stands in a limbo without Real Estate sector.
4. The Pertinent Question
Owning a house is one of the ultimate dream of a person. The investors, end users and buyers often face the pertinent question as to where to invest their hard earned money.
Here is an excerpt from the Jones Lang LaSalle (JLL) report on real estate that lists the locations that illustrate the answer in context of individual cities and specific localities.
•Noida & Greater Noida – National Capital Region (NCR)
•Thane- Mumbai Metropolitan Region (MMR)
•Navi Mumbai- Mumbai Metropolitan Region (MMR)
•Southern Suburbs- Chennai
•Viman Nagar and Nagar Road- Pune
There are many factors that contribute to the all-round development of a location to make it a hotspot with sustained price growth over a span of time. As per JLL assessment, these locations offer a humungous spray of investing options in real estate with their relatively lower price levels that provides for a stimulus for future capital appreciation and healthy returns.
These hotspots offer good investment options with property price appreciation likely to vary depending upon the rampant risks associated with the respective location and their environs.
The discounts on property prices in these hotspot locations depend upon developer profile, asset class and construction status of the project.
5. The Rewarded Risk
In realty there is a reward attached to every risk. Therefore, every minute is a correct time to decide and invest in real estate because there is reward of appreciation of capital with it. The real estate sector might undergo a sluggish period but ultimately it follows the upward trajectory. The sector might witness idleness for a while but it is Phoenix like – the emblem of immortality.
So, buy now, invest now! The unending realty story begins with your home …
GOVT. WAIVES STAMP DUTY ON TRANSFER OF LAND / FLAT TO KIN or FAMILY MEMBERS
Hon’ble Revenu Minister Eknath Khadase announced in Assembly on 25-03–2015 that Govt. waives stamp duty on transfer of land or flat immovable property to Kin or family members. He announced that now immovable property such as land, house or flat can be transferred to Owner’s Children or even to blood relatives simply by executing transfer deed on Rs. 500/- stamp paper without paying stamp duty and registration fee. This announcement will give good relief to the families of transferors as they will not require to pay 5% stamp duty at market value as per ready Reckoner. Minister further clarified that in such an event it will be sufficient if transfer document is executed on Rs.. 500/- stamp-paper.
He further clarified that the decision to waive stamp duty on property transferred to heirs is taken on account of large complaints received from farmers who were otherwise unable to transfer farming land to their family members due to heavy stamp duty for such transactions. H’ble Chief Minister on another issue of TDR clarified in the assembly that Govt. is framing a new policy by which TDR will be indexed to the Ready Reckoner rate in order to prevent developers earning buge income from use of TDR of one area to another. The Ready Reckoner rate of the area where it is being utilized will now apply. S.S. Mahajan.
®Property Fot Sale Magazine / 2015 / Published – Info Source Times of India dt. 26-3-2015
Indian real estate sector has been facing a huge slowdown for last 2-3 years, the government today relaxed foreign direct investment (FDI) norms in the construction sector by removing two major conditions related to minimum built-up area as well as capital requirement.
To boost foreign investment in the cash-starved realty sector, the government has eased rules for foreign investors to exit and repatriate their investments.
Below are the key changes in the real estate sector summarized below –
1. Minimum area (20,000 sqm) and minimum capitalisation (US$ 5 million) removed – Conditions of area restriction of floor area of 20,000 sq. mtrs in construction development projects and minimum capitalization of US $ 5 million to be brought in within the period of six months of the commencement of business, have been removed.
2. Each phase is a different project – Each phase of the construction development project would be considered as a separate project for the purposes of FDI policy. Exit will therefore be linked to each phase.
3. Exit linked to 3-years of each FDI tranche (earlier exit possible before 3Y if trunk infra is completed before 3Y) – A foreign investor will be permitted to exit and repatriate foreign investment before the completion of project under automatic route, provided that a lock-in-period of three years, calculated with reference to each tranche of foreign investment has been completed.
4. No lock-in of 3Y for NR – NR transfers – Transfer of stake from one non-resident to another non-resident, without repatriation of investment will neither be subject to any lock-in period nor to any government approval. Nonetheless, exit is permitted at any time if project or trunk infrastructure is completed before the lock-in period.
5. Leasing is not “real estate business” (in which FDI is prohibited) – Earning of rent/ income on lease of the property, not amounting to “transfer”, will not amount to real estate business.
100% FDI under automatic route is permitted in completed projects for operation and management of townships, malls/ shopping complexes and business centres. Consequent to foreign investment, transfer of ownership and/or control of the investee company from residents to non-residents is also permitted. However, there would be a lock-in-period of three years, calculated with reference to each tranche of FDI, and transfer of immovable property or part thereof is not permitted during this period of 3 years.
“Transfer”, for the purposes of above includes,—
(a) the sale, exchange or relinquishment of the asset ; or
(b) the extinguishment of any rights therein ; or
(c) the compulsory acquisition thereof under any law ; or
(d) any transaction involving the allowing of the possession of any immovable property to be taken or retained in part performance of a contract of the nature referred to in section 53A of the Transfer of Property Act, 1882 (4 of 1882) ; or
(e) any transaction, by acquiring shares in a company or by way of any agreement or any arrangement or in any other manner whatsoever, which has the effect of transferring, or enabling the enjoyment of, any immovable property.
This means FDI is permitted in rent yielding assets. The earlier ambiguities on whether activity of renting amounts to “real estate business” (and therefore whether prohibited) is removed . FDI should therefore be now permitted in a company holding completed assets yielding rent.
6. FDI in LLPs now permitted under the Automatic Route: This is however for sectors in which 100% FDI is allowed under the automatic route and there are no FDI performance linked conditions.
®All Rights Reserved / Property For Sale Magazine 2015
In the absence of rationalization of approval processes and single window system it is likely that state’s dream of achieving 20 lakh affordable homes by 2020 might go for a toss.
Moreover, the development control rules have elapsed long ago and new set of rules are still awaited despite being policies that are under the time frame of 20 years.The ground reality is that a developers has to take around 54 to 60 approvals and permissions before starting a real estate project. For each approval a developer has to deal with number of government authorities wherein the entire process takes about two to three years resulting in cost overrun and delay of the project.
The uncertainty which looms over getting an approval has not only become unimaginably lengthy and tedious but has also taken its toll on the interest cost which has been increasing for the developers’ as well as the consumers.
The CREDAI body of developers’ fraternity has consistently demanded a streamlined approval system for which action is yet to be seen from the government authorities.
On a pan India basis CREDAI and its members have appealed to the administration to develop an atmosphere which is spirited towards easing of approval systems and smooth functioning of real estate business in the country.
It is often assumed that developers delay projects on purpose to gain some kind of profit, but the fact is that most of the time lose heavily because of approval delays.
Developers make significant investments into land, and the purpose of this investment is not to hold on to it but to develop it. In order to do this, they must even today face a crippling gauntlet of approvals, sanctions and permissions. Until these approvals are obtained, they have to pay the cost of holding the land and keeping their construction materials and workforces on standby, in addition to having to face the ire of their customers.
The fact is that every day of delay costs a developer both financially and in terms of market goodwill and reputation. He is unable to market the units within the project efficiently because of lack of visible progress on site, and can therefore not generate capital to fund his next project. Simultaneously, the government is not able to generate revenue by means of stamp duty and registrations.
The process of obtaining all the necessary approvals, of which there are currently more than 60, often takes as long as two years and sometimes even longer.
The list of permissions or clearances for development of real estate in India varies from state to state. It generally includes but is not limited to the following:
> Land Conversion > Change of Zone for usage of Land > Ownership Certificate > Non-encumbrance > Demarcation Plan
> Tree cutting approval clearance > Bore well registration certificate
> Environmental clearance > Consent to Establishment > Firefighting scheme approval before and aftercompletion of construction
> Site office approval > Consent for operate (for earthquake resistance along with plan approval> Approval related to explosive substances such as gas and petroleum > Other common facilities approvals > Road access > Permission for excavation > Lift-Escalator installation approval > Lift escalator operation license
> NOC for electric substation for every substation transformer within the building
> Clearance certificate for every electrical installation within the building
> Sewer connection approval > Water connection approval > Layout approval > Development License
> Commencement certificate > Building completion certificate > Occupancy certificate
The approval system we have today is a hangover of the ‘license raj’ that started in the era of India’s occupation by the British and continued into its independence. The reasons why this system continues are self-evident and do not need to elaborated upon. However, in this era of progressive reforms in almost all business segments, it is high time that the government enacts a single-window clearance system for housing projects.
The provision of such a system will enable residential developers to multiply their output several times over. The increased supply would not only go towards meeting India’s urgent housing needs but also increase revenue for the government. At the same time, the additional supply will increase competitiveness among developers and thereby help keep real estate prices in check.
No doubt, there are a number of provisionsand safeguards that need to be put in place that such a system is not exploited by unscrupulous elements. However, this issue has been already been debated upon extensively by the most qualified experts, and such safeguards have already been isolated and ratified. What remains to be actioned is the provision of single-window clearance for residential projects that qualify for it at the Central as well as State levels. The lack of such a system is a serious impediment not only for the real estate sector in particular but also for the economy in general.
Buying a home is a costly process at the best of times. Making the down payment alone can consume a normal middle class family’s entire savings. A home loan sets the stage for anything between 10-20 years of debt, and paying the EMIs on a home loan can take up a significant part of the monthly income. It is therefore natural for home buyers to look for every possible means to reduce the financial burden of buying a home.
It is no secret that home buyers can save up to 30% of the cost price of a property by investing at the pre-launch stage of a project. This is, in fact, the most popular mode of property investment among Pune property buyers. Essentially, this is seen as a riskier method of property investment, as one is investing in a ‘product’ that has yet to be ‘manufactured’.
Those who are averse to any kind of risk prefer to invest only in ready-to-move flats. However, in this day and age of illegally constructed buildings being identified and demolished by the authorities, even the supposedly ‘risk free’ route is turning into a nightmare for buyers. Evidently, the risk factor lies less in the stage of construction than in who is constructing.
If you speak to people who had invested in their homes at the pre-launch stage in the past and are happy inhabitants of completed homes today, the secret of their success is easily seen. Though they technically exposed themselves to risk, they were confident of their developer. It is this confidence that he gives his buyers – not his land banks or bank balance – that is a developer’s greatest asset. Buyers feel safe to invest in an under-construction project by a reputed developer, because they know that they will get the home that they paid for – on time, and with no unpleasant surprises.
So the first thing to keep in mind while considering a pre-launch project is the developer’s reputation and market standing. Many names infuse confidence without buyers having to delve further – these are the developers who have a clean track record. If the name does not ring a bell, this does not means that the developer cannot be trusted – but greater due diligence is definitely called for. And if the developer has not delivered a single project before this one, one needs to be extremely alert and look for other options.
Buyers should establish whether the developer has been able to deliver his projects on schedule in the past, and also whether there have been instances of project designs and specifications changing in the interim. This is not a desirable scenario, as buyers should be able to expect to get what they had originally signed up for. For this reason, it is always best to stick to reputed, established developers.
Even if the developer’s reputation is not in question, one still needs to ask the right questions and be aware of certain facts. For instance, it is important to know the actual completion and handover timelines. An acceptable window would be 1.5-2 years from the time of investment. One should also be clear about the actual size and layout of the flat one is buying, and the facilities and amenities that will be included. All these will invariably be mentioned in the purchase agreement.
If the developer is completely new and has no verifiable track record, buyers should under no circumstances rely solely on the bank to do the necessary due diligence. They must establish the legal bonafides of the project at every level. This includes asking to see the sanction plan, commencement certificate, draft agreement and the title search report which proves the developer’s free and legal ownership of the plot on this the project will be built. The agreement should also clearly mention the penalty on the developer if he fails to deliver on time or as per the project design.
Consumer protection is becoming stronger, and strict obligations on quality, delivery and materials coupled with heightened liability for developers has brought India’s Realty Market into a new era of quality and buyer satisfaction. Today a developer knows that his good face value is the only key that will help him survive, specially during uncertain times. So, Here are four reasons why you should buy Now !!
1. The Market is about to Become Ripe.
The property market by end of next year will soon be finally rising from the ashes of its bleak post-crisis demise and buyer interest and money seeping back into the country.
As the market will be entering a growth period, prices will go up. It’s a smart time to buy: The price-per-square-meter / per-square-foot are at a record low, and property prices will no doubt will eventually grow again.
There are a few tell-tale signs that confirm the general enthusiasm for India’s market recovery. With Modi pushing India, we should be riding a fast track to recovery very soon, plus more construction permits have been issued, interest rates are down, expected to go even down, trust us when we say, this is the time to Buy !!
2. There’s Money in market Hotspots and the Suburbs.
It’s a buyer’s market for new builds in India after a two-year slump during which prices fell by 38.7 percent on average. From where I stand in the property business, there are two types of real estate: “standard” and “prime,” both of which herald future value for buyers.
Prices for “standard” new builds are currently at May 2009 levels, substantially lower than the market heyday in 2011 and 2012. This means better value per square meter and also that property will grow in value, secured by high-quality construction standards.
At the moment, three- and four-bedroom apartments from 1500 to 1900 square ft. are particularly popular with foreign buyers, helped along by favorable currency exchange rates.
“Prime” these properties are always in demand and were sheltered from the too much devaluation because they are located in market hotspots, like the most exclusive areas, and they cater to wealthy buyers who are typically less affected by economic strife. For example, ATS Village in Sector 93A Noida, now such properties still have a standard demand and good market valuation.
Plus, Pune boasts the most noticeable growth of India’s construction market: as many as 58 new projects have been launched in 2015, and off-plan flats are selling out within six months of the project launch. Pune is not alone in this regard, and the trend is also noticeable in other Small Indian cities.
As modern technology gives construction experts more room to maneuver, upmarket properties for big budget buyers with ample parking, rooftop swimming pools and gyms are starting to appear in the country’s quaint city centers.
Moreover, they have evolved to fit the local architectural style, thus preserving the traditional feel of these unique cities.
3. Financing is Beneficial
Buying has its benefits both in terms of financing and long-term expenditures. There’s no need for a large deposit. It use to usually costs 5-10% to reserve the unit and another 10–15 percent of the total value to finalize the sale. Today, its 5-10% of the whole value, After that, you pay by installment for each completed stage of the construction.
To protect buyers, the funds are only released when the developer completes each phase of construction in agreement with the planning schedule & with such strict rules, If the terms of the accord are not fulfilled the money returns to the buyer.
Of course, I cannot encourage buyers enough to engage a qualified and registered lawyer to make sure all the paperwork is in order, but if it is, these terms offer proper protection against unscrupulous developers.
4. Property Experts are on your Side.
When the markets went down in India, many shortcomings in the real estate sector were brought to light in appalling circumstances: unfinished projects, poor insulation, breaches of local planning laws and so on.
Thousands of owners found themselves in a dispute with local builders, in some cases, leading to the a court demanding demolition of the buildings they thought had not been erected with building standards and bylaws.
It is important to protect yourself, Buying property is a serious mission, and thankfully, the crisis has made property representatives more attentive to the risks incurred by buyers unfamiliar with the system.
Do your research on the developer and choose a reputable notary to carry out due diligence on the planning permissions. Check that all the relevant information is contained in the contract that will facilitate any potential claims in the future.
In the course of action to turn Noida Sector 150 as a prototypical green sector, the Noida Authority has decided to keep 80% of the 600 acre area as green cover limiting the construction to the remaining 20%. Moreover, they intend to develop a 42 acre theme park- one of the biggest in the country above and beyond a low density Sports City spread over 500 acres. Several early bird projects and complementary projects have been initiated towards the accomplishment of a sector first of its kind in Delhi NCR with much emphasis on the green quotient.
•Intended to become the first green Sector of NCR
•Proposed metro grid of Dwarka- Greater Noida to pass through Sector 150
•75 meters wide road from Noida to Greater Noida Expressway through Sector 150
•500 acres upcoming Sports Township with 80% greens
•Stress free connectivity to Faridabad, Greater Noida and Delhi
•A 50,000 seater cricket stadium for International games in the vicinity
•A tram link planned along the Greater Noida expressway
•State of Art Universities, hospitals and schools planned
The Chairman and CEO of Noida Authority, Rama Raman says “We have planned Sector 150 to become NCR’S greenest sector to increase the green cover in Noida. Already a massive plantation drive is underway and Authority plans to construct one of the biggest theme parks of NCR on 42 acres of land in Sector 150. Nearly 80% of the sector is expected to be green. Sector 150 being a low density area is soon to develop as an ideal sector. It will become a hub of healthy living in NCR.”
Pivot of all the action
Sector 150 Noida is a forthcoming primary location as a residential cum corporate hub. This sector nearing Noida expressway has been identified as a smart sector. Sector 150 falls under the special economic zone and is quite close to Pari Chowk, Night Safari, Gautam Budh University, Formula 1 and Yamuna Expressway. It is well connected to Delhi, Greater Noida and other NCR regions. The FNG (Faridabad-Noida-Ghaziabad) expressway too promises fast connectivity. The sector enjoys the advantage of proposed Metro Link to pass through it. This adds to the advantages of the upcoming smart sector which has drawn to the real estate projects launched in the area.
In order to give surface to world class infrastructure in sector 150 which is spread over 600 acre land Noida Authority has paved the way to develop a 500 acre Sports City. The proposed greenest sector of NCR will have 80% of green patch. Reportedly, there are only two low density sectors in Noida, 79 and 150. So, besides a low density Sports City a 42 acre theme park, one of the biggest in country is being developed.
The Noida Authority has envisioned to make sector 150 an ideal state of the art sector of the NCR by focusing on integrated sports themed development which will catalyze other infrastructural developments attracting realtors, IT companies and educational institutions. The developers have projected Group housing projects with all the modern world class facilities.
What goes into the making of an ideal sector?
The Sports City spread over 500 acres is said to be developed at a cost of Rs.2300 crore. The Sports city is one of its kind in the country to offer world class recreational and residential facilities for youngsters and professionals. With clear and defined focus on integrated sports theme the sports city can also be the house for other activities like community meetings, exhibitions, tourism and cultural festivals.
The Sports City is mainly a part of recreational land use and therefore this development is proposed in the recreational green area. A separate provision for permissible ground coverage and FAR (Floor area ratio) has been proposed as per the Building Regulations Act of Noida and Master Plan 2031.
This developing Sports City has a FAR of 1.50 which renders a plenty of space for the proposed golf course in the expansion. The project will center a 9-hole golf course. The maximum permissible ground coverage of the entire land is 30% of which 0.5% is reserved for commercial use and 29.5% for group housing and residential use. The major part of 70% will be an arena for open sports and other sports facilities which would include multi-purpose playfields, indoor sports area, cricket academy and swimming center along with a hospital and internal roads and green spaces.
Apart from the Sports city project being developed by Lotus Greens Group, developers like Ace, ATS, Logix, Antriksh, Rudra and Mahagun are developing green, low density infrastructure and sports facility. ATS group has launched ATS Pristine on 18 acres. The 22 storied project has around 700 flats with 85% area covered by green spaces. Getamber Anand, Chairman and Managing Director of ATS group and President Elect – CREDAI said “The project is strategically located at the Noida expressway as Sector 150 has become a preferred destination in the past few years for home buyers. It enjoys good demand due to its proximity to important centers of the city and beyond. “
The realty giants have formed a consortium and are building golf themed township here. The USP of this township is its golf themed housing projects being built on carefully designed layout. This gated community assures a resort like environment, designer golfing fairways, tree lined streets, pedestrian paths, cycle tracks etc.
Keeping in mind the concern for buyers and investors, Sports City caters to various options from affordable to mid-segment and luxury residential projects with promising world class amenities. These projects also promise the prospective of maximum view of golf course and consolidated greens from all the corners. Educational institutions, 5-star hotels, shopping arcades, hospitals and commercial build ups are also a part of this state of the art horizon. The proposed flyovers, underpasses, expressways, metro links has added to the allure of this Sports City which makes for easy travelling and living in its residential space.
Here are some best of projects earmarked under various categories:
•BEST PROJECTS TO INVEST IN SECTOR 150
ATS Le Grandiose | ACE Group Parkway | ATS Nobility | Sethi Group Venice
•BEST LUXURY PROJECTS IN SECTOR 150
Ace Group GolfShire | Ace Group Parkway | Rudra Uno | Mahagun Meadows Villa | ATS Pristine
•BEST PRE-LAUNCH PROJECTS IN SECTOR 150
ACE Group Parkway | Lotus Green Sports City | Antriksh Sports City | ATS Le Grandiose | Samridhi Luxuriya Avenue
ACE group is a prolific name and stands out in the industry having earned a reputation of being a reliable group with its remarkable speed and timely delivery of projects. The group has achieved a significant milestone at its residential project Ace City at Greater Noida West by constructing approximately 3 lakh sqft. of area spread over 24 floors in one tower in a record span of 12 months.
ACE group is focused in developing world class residential buildings across Delhi NCR and are committed to design buildings that are aesthetically and visually superior providing luxurious living spaces.
There are two projects by Ace group that are located in the prime location of Noida Expressway, Sector 150 – ACE Golf shire and ACE Parkway which are a class apart from other realty projects in the area as far as investment and luxury parameters are concerned.
ACE PARKWAY is one of the most popular residential projects in sector 150, Noida. Developed by ACE Group Noida, the project offers spacious 2 BHK, 3BHK and 4BHK apartments with unmatched amenities for the comfort of the residents. It is close to market, hospitals and many educational institutions.
Total Area: 11 acres | NUMBER OF UNITS: 970 | OPEN AREA: 80% | FEATURES -PROJECT THEME: ART DÉCOR
UNIQUE- Club house, Coffee lounge & restaurants, Jogging & Strolling track, Cycling & Jogging track.
OTHERS- Power back up, swimming pool, lift, security, park, reserved parking, visitor parking, maintenance staff, banquet hall, gymnasium, indoor games room, kids club6, kids play area, DTH television facility, flower gardens, rain water harvesting, water storage, indoor squash and badminton courts, waste disposal and firefighting equipment.
ACE GOLFSHIRE is a residential development project which offers 2 and 3 BHK apartments. This is an ongoing project of Ace Group in sector 150. It has a thoughtful design and is being developed with all the modern day amenities along with basic facilities.
TOTAL AREA: 6 ACRE | NO.OF TOWERS: 5 | NO.OF FLOORS: 22 | NO.OF UNITS: 455 | UNITS PER FLOOR: 4 | FEATURES | OPEN SPACE: 75% | AMENITIES
UNIQUE- Club house, Coffee lounge and restaurants, Cafeteria/ food court, Bar/ Lounge, Jogging and strolling track, Outdoor Tennis courts, cycling and jogging track.
OTHERS- Power back up, swimming pool, lift, security, park, reserved parking, service/ goods lift, visitor parking, intercom facility, maintenance staff, Bank and ATM, Banquet hall, guest accommodation, gymnasium, indoor games room, kids play area, aerobics room, concierge services, DTH television facility, Library and business center, piped gas, rain water harvesting, recreational pool, rentable community space, RO water system, water storage, air conditioned, canopy walk, indoor squash and badminton courts, multipurpose courts, meditation area, vaastu compliant, internet/wi-fi connectivity, conference room, event space and amphitheater, kids play pool with water slides, outdoor tennis court, activity deck 4 and firefighting equipment.
Ace Golf shire which is under construction, according to Ajay Kumar, CMD, ACE group is said to be “a well planned residential property that aims at providing comfort, luxury, style and convenience to the residents. The core USP of the project is its golf- theme offering peace and serenity. Sprawling over lush green landscape Ace Golf shire is the best property of Noida expressway in terms of investment.”
ACE Parkway is an upcoming ultra- luxury project by ACE group in sector 150. The CMD Ace Group says “ACE Parkway will represent international lifestyle ensuring a leisure filled lifestyle for the residents. The exclusive residential project will be an epitome of style and luxury with an exquisite architecture.”
Highlighting the aim of Ace group which would contribute to the housing sector in near future Mr. Kumar added “We would start delivering 1500 homes by March 2016 contributing to 14 lakh sq.ft and 3500 homes in Ace city and Ace Aspire by October, 2016.”
A Feather in cap for Sector 150
Highlighting the infrastructure development by the authority which would make Sector 150 a world class sector of NCR, CEO Noida Authority, Rama Raman added “Huge development projects like roads, bridges, flyovers, underpasses, metro links, and proposed second international airport are key infrastructural highlights of the area in and around Sector 150. To improve basic infrastructure along the expressway there are plans to develop power generation unit, sewage treatment plants and a water reservoir in the vicinity. All these initiatives will make for a conducive environment for people to work and enjoy good quality of life”
The forthcoming Sports city is well connected by way of three main expressways Noida- Greater Noida Expressway, DND Flyway and Yamuna Expressway. The Faridabad- Noida-Ghaziabad corridor once ready will also smoothen the traffic snarls. There are plans to commission a road network of over 20 Km in the area to ease the traffic nightmares. There is also a construction of bridge underway to cut travel time between Noida and Faridabad. As of now it takes almost an hour to travel between the two cities via Kalindi Kunj in South Delhi which is a bottleneck in the peak hours. The bridge will lead to Pari Chowk allowing commuters going towards Noida and Greater Noida to easily access the expressway.
A 126MVA captive power generation plant and sewage treatment plants with an aggregate capacity of 30,000 kiloliters per day are also proposed in the area.
According to the master plan there will be provisions for more than 40 educational facilities and a variety of retail shopping facilities.
As mentioned earlier, 80% of the green area is to be utilized for landscaping, artificial lakes, children’s play area, bird sanctuary, organic farm, rain harvesting facilities etc.
The sector will also witness the building up of a football stadium, cricket stadium, basketball court, fields for wrestling and athletics will also be there. Apart from this an open air theater, musical fountains, walk-in plaza and training center for various sports will also be made.
Facility for old age home will also be made available in the sports center itself. It will be the first of its kind in Noida as there is no provision of an old age home till now in Noida. The old age home which will be built in sector 150 will have all the modern and best of facilities for the elderly people.
This is the ideal sector to nest in because it has the essence of all the three elements in abundance be it land, water, air, fire or ether which makes it Vaastu compliant too.
Therefore, if you are planning to buy your dream house with a representation of luxury in the lap of nature then sector 150 is the destination with options to suit your budget with all the niche development plans that amalgamate for the formation of this first ever state of the art sector in NCR.
Since Delhi is the National capital of our country people from all over India come to seek employment and better living here. According to the census, in a span of five to six years around two million people are expected to migrate to the capital. Keeping in view, the need for housing for the expected additional population Urban Development Ministry and Delhi Development Authority decided to develop new zones on the outskirts of Delhi under MPD 2021. The National Capital territory of Delhi has been divided into 15 zones for better administration of development. These zones have been enumerated from A to H and J to P. Eight of the zones fall under urban area, one lies on the riverbed and the remaining six zones fall under rural area.
The concept of DDA L Zone came into existence for the first time when DDA announced Master Plan Delhi 2021. As per the Master Plan Delhi 2021, DDA proposed a new Zone L in Dwarka which is located in South West Delhi.
The basic objectives for planning Zone L under MPD 2021 are upgradation of infrastructure, rendering improved accessibility and connectivity to both rural and urban extension and also preserving of natural resources and eco-system.
Location and Area:
The L- zone covers an area of 22,979 hectares. It is surrounded by NH-10/ Rohtak road, a railway line in North, Zone K in the East that mainly comprises of Dwarka sub –city and on the south and west it is surrounded by the National Capital Territory of Delhi boundary.
While Najafgarh is one of the major urban cluster there are others like Tikri Kalan, Dhansa, Jharoda Kalan, Jasfarpur Kalan etc that make for major rural settlements. There are approximately 46 villages that fall under this Zone.
What is L Zone?
The Delhi Development Authority has taken an initiative to work upon the Master Plan of L Zone to facilitate the growing need of housing in Delhi. The L Zone is located in South- West Delhi and spread over 22,979 hectares of land. It is in close proximity to IGI Airport, Dwarka Sec-21 Metro station & Dwarka Expressway and is advantageously positioned between Dwarka and Gurgaon. Therefore, the L Zone is expected to give a spur to the slow and stagnant real estate market of the capital region.
The authority has divided National Capital Territory of Delhi into 15 zones among these L Zone has the largest share with Najafgarh as the only census town of the zone under the development plan. Currently, various zones are open for buying of land and has received a good response from housing societies and private developers in terms of investment plans. While few have already bought land there are others who are trying to get necessary approvals from the authority.
Once all the necessary approvals are made, the L Zone land owners will submit the land to DDA. Out of the land submitted 40 percent of the total land area will be taken up by the authority for the development of roads, sewage, drainage and various other civic amenities. DDA has reserved 900 acres of land to build a huge water reservoir.Once these amenities are developed the real estate developers will be allowed to execute their plans laid out for construction in the Zone.
As far as buyers are concerned there are two categories of buyers under the plan- (a) land buyers and (b) home buyers. The land buyers should have a thorough knowledge of land pooling policy and should buy the land which is under the residential zone. On the other hand, the home buyers or individual investors who are interested in the real estate development taking place in this national region must ensure that necessary approvals have been obtained by the developer. According, to the latest update land pooling policy has been approved but the process of surrender and approval of individual project is still awaited.
Creation of Smart Sub- Cities
Under the land pooling policy, the land surrendered will be clubbed for holistic development which would lead to creation of several sub-cities. The land owners can also pool the land through mutual agreement and present it as one large unit of land to DDA. As per the prescribed blueprint DDA has earmarked in the zonal plans that how the area is to be used in a specific manner by the developers. There are nine land usage categories that includes residential, commercial, industrial and transport, utility, public and semi-public facility, recreational among others. It is mandatory on part of developers and DDA to ensure that the prescribed guidelines to Smart Cities by the Government of India are followed.
The smart sub-cities will have 24 hour water and power supply, high-speed Wi-Fi connectivity, Transit- Oriented Development Model, efficient solid-waste management system and green buildings.
According to the experts, out of all the zones, two zones L and N are ideal for the smart city project. Both the Zones L and N have the required physical and economic characteristics to evolve as self-sufficient smart sub-cities. The L- zone which is next to Dwarka is the largest among all the zones with maximum area under its cover.
The Zone is said to have Public and semi- public facilities like:
Healthcare Facilities– A hierarchy of healthcare facilities such as hospitals have been proposed to meet the requirement of 20 lakh population of the zone. Also, a provision for 5 hospital bed per thousand population will be made therein.
Educational Facilities– For optimum utilization of resources and available education infrastructure a need to formulate policies and norms have been recognized in the Master Plan. Also, land measuring approximately 53.6 hectares is to be kept for higher education.
Sports Facilities– A site of about 17 hectares already exists in the zone for Sports Training Institute. New sports facilities will be provided in the zone under the hierarchy of divisional Sports Centre
Communication Facilities– Two plots measuring 2500 sq. mtr each for Head Post Office and two plots for Telephone Exchange measuring 2500 sq. mtr are to be provided. Remote subscriber units within 3km each of 300 sq. mtr shall also be provided in the sector.
Safety and security facilities- Adequate number of police stations, police posts and police lines shall also be provided.
Victorian Group: The Spear headers at L Zone
Victorian Group is a Delhi centered professional real estate group focused on residential and commercial property development. The Victorian Group has spear headed the L Zone with its new housing project Victorian Privilege which is located in L Zone Dwarka. The project offers luxury amenities and features at affordable price with apartments of various sizes for sale. Here are few excerpts about the Victorian group and its project Victorian Privilege in L Zone gathered from Parveen Saraswat, MD, Victorian Corporation:
Q. Can you brief us about the Victorian Group and the philosophy behind the group?
A. Victorian Group is a Delhi based professional real estate group that focuses on residential and commercial property development. Our group has earned a reputation among the premiere builders in the country. We at Victorian aim at accomplishing greater heights and deliver the best to the customers which enables us to reach for a new level of performance each time and set new benchmarks in the real estate industry.
The philosophy behind the group is that we strongly believe in creating an Ethical and Credible Real Estate Brand that aims at value for customers, employees and all stakeholders.
Q. What are the achievements of the Victorian Group?
A. We have delivered nearly 50 lakh sq. ft. of constructed space in 20 different projects all over Delhi NCR and other towns as Co-operative Group Housing Scheme group and various housing projects, hotels, malls etc. We have also worked with award-wining architects and designers delivering premium projects built from original, eye- catching designs that innovate, inspire and above all instill pride of ownership there by demonstrating our affinity for detail and finish.
Q. What makes for the stand apart quotient for the Victorian Group?
A. We believe it is the quality of our construction and excellence in service which differentiate us in the market place paving our way towards continuous growth.
Q. Tell us about your upcoming project in the L Zone? What are the options available under your project?
A. Victorian Privilege is our new residential project located in DDA L Zone Dwarka which is an upcoming smart city in South West Delhi. We have luxurious and spacious fully furnished 2, 3 & 4 bedroom apartments in L Zone as well as in Dwarka Phase 2 at a highly affordable price.
Q. What are the future prospects of investment in property in the L ZONE?
A. According to me buying property in L Zone is probably the best long term investment option available in Delhi. The Victorian Privilege in L zone provides for a hot property option in terms of affordability and location. We are well-aware that property at such a reasonable price is a rare scenario in Delhi being the capital. But here is a smart city in offering that not only provides home at a reasonable price in Delhi but also gives competition to the real estate projects in Noida and Gurgaon that is too pricy to be afforded by a commoner. The location of the project gives an edge to the L zone as it is well connected to Gurgaon, IGI Airport, South Delhi and Dwarka Expressway.
Mr. Parveen Saraswat is an expert organization builder, Sales and Marketing expert with a powerful background of building brands in real estate industry. He is associated with the real estate industry for more than ten years. With a strong ability of sales and business development, he has successfully marketed more than 10 Million sq. ft. of commercial and high end luxury residential space in Delhi NCR region. Mr. Saraswat believes in overwhelming his clients with their deliverables by constantly providing delectable after sale service, making post-possession experience profoundly memorable.
With such rapid urbanization, NCR is set to become a mega polis. Delhi is bound to become smarter with these proposed smart sub-cities. Therefore, one should have an eye for the housing bonanza which DDA is all set to unleash with 20 Lakh residential units which are coming up on the outskirts of Delhi with world class infrastructure turning it into a mini- Delhi in the making.
Housing.com and The Confederation of Real Estate Developers’ Associations of India (CREDAI), today signed a Memorandum of Understanding (MOU) for an exclusive partnership for three years. The objective of the MOU will be to improve the overall ecosystem and create a new age platform that will enable the developers to engage with the consumers in a focused manner.
“The partnership is a testimony of changing times in the manner developers have been traditionally operating in the real estate space,” said Jason Kothari, Chief Business Officer, Housing.com on the occasion. “CREDAI’s members are the most respected developers in India, while Housing.com has an innovative, technologically advanced and trusted online real estate platform. This association is first of its kind in the industry, and I am excited that it will redefine the way developers have been approaching the buyers across India. We are confident that the alliance will prove to be a mutually beneficial relationship and will make the community more transparent and consumer centric.”
Mr. Getamber Anand, President, CREDAI National said, “We are enthusiastic to synergize with an organization like Housing.com. CREDAI has, to its advantage credibility for its members and if housing.com also brings in additional credibility to the real estate space by way of professional brokering and large footprint, it will mutually benefit both organizations. We are certain that this relationship will go on in a long fruitful way.”
Housing.com is the leading online real estate company in India playing across the ecosystem driving innovative technological solutions and transparency. As part of the alliance, Housing.com will actively participate and be represented at all events and forums of CREDAI nationally, as well as engage with CREDAI’s network of developers including alignment with regional chapters. CREDAI, through this partnership, will be able to leverage Housing.com’s technology superiority and innovation to create online proliferation for its communities.
Established in 1999, The Confederation of Real Estate Developers’ Association of India better known as CREDAI is the apex body for private real estate developers in India, representing over 11,500 developers through 24 states and 154 city chapters across the country. CREDAI has organized the industry and is accepted as trusted partner with Government representatives, policy makers, investors, finance companies and consumers.
Founded in 2012, Housing.com is India’s leading online real estate platform with 8 million monthly hits, 1 million verified homes listed to date, and an unparalleled online user experience. The Company is a technologically innovative real estate platform with a larger vision to bring more transparency, efficiency and trust across the real estate ecosystem in India.
RBI today cut the benchmark repo rate by 50 basis points to a 4-1/2-year low of 6.75 per cent in a surprise move
“As opposed to the market’s expectation of a 25 basis points cut, the RBI has delivered an astounding 50 basis points reduction. With this, it has clearly abandoned its cautious baby-steps approach and assumed a bolder stance, obviously because the current economic fundamentals provide it with the room to do so. Given the magnitude of this step, I do not think any further rate cuts are likely in this financial year, especially since the RBI foresees a moderate growth in inflation rate in the interim months. For the affordable housing sector, the outlook is nevertheless bright, since the RBI governor has made provisions for lending to this sector to become less stringent and broader in scope.” Says
Anuj Puri, Chairman & Country Head, JLL India
The repo rate cut decision came in for praise by policymakers, including Finance Minister Arun Jaitley, who said that that transmission of RBI rate cuts by banks will boost investments.
This rate cut is rooted in RBI’S confidence on inflation side, particularly imported inflation that’s falling due to collapse in global commodity prices. Even food inflation remains contained. RBI has lowered its January 2016 inflation projection to 5.8% from 6% and March 2017 target to 5%. Although revision is marginal, this underscores RBI’S confidence in inflation stability.
Growth forecast has been revised down to 7.4% from 7.6% for FY16. Reasons for growth slowdown are poor monsoons and slow pick up in investment cycle.
Falling inflation and slowing growth have made RBI front end it’s rate cuts to kick start domestic consumption and investment demand. RBI has reiterated it’s earlier stance of working with governemnt and banks to transmit these cuts to real economy through the bank transmission channels. We think RBI will unlikely cut rates soon. As these lower rates are tansmited by banks, th is may be a great time to refinance loans.
RBI has proposed to lower risk weights on individual housing loans in the affordable segment (currently minimum risk weights in housing loans is 50%) to boost low cost housing. This will help in meeting govt’s target ‘Housing for all’ by 2022. Along with rate cuts, this means housing loan market should see a pick up in volumes. Home loan and Car loan rates should fall by .50 basis points & Should to come at 9%.
Dr Rajan said the 50-basis-point repo rate cut should not be viewed as an aggressive move. Many conditions laid down by the RBI in the previous policy announcement in August have been met, paving way for a sharper rate cut, he added.
At the outset, this rate cut will lead to a long and sustained improvement of the market sentiments through higher consumer spending and easy availability of loans to both consumer as well corporate. This is great news for the real estate sector as the rate cut would also lead to a significant reduction in home loan rates thereby reducing EMIs of home buyers. Corporate would benefit as interest outgo on existing loans would reduce and also enable them to raise equity. The prospects of Government divestment would also gather pace. The green signal to raising of Rupee Debt overseas is a game-changer and can create an alternate source of funding for Indian companies.” says Puraskar Thadani, Editor; Property For Sale Magazine.