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Gurugram: Promised in 2021, but flats still not handed over to buyers, builder may face action

Author: +91-7765906259
Categories: Gurgaon Property News & Real Estate Updates

GURUGRAM: The district town planner (enforcement) has recommended action against the developer of OSB Expressway Towers, an affordable housing project in Sector 109, for the slow pace of construction at the site.

The affordable housing project was launched in 2017 by the builder and the buyers were promised possession in 2021. The deadline was extended to 2023 in view of the pandemic. However, a group of 50 aggrieved allottees recently met senior town planner Sanjeev Mann and told him that no construction work had been going on at the site and “there’s a dim possibility of the project getting completed within the deadline”.

DTP Manish Yadav, qui a inspecté le site du projet, a déclaré que le rythme de construction sur le site était très lent et que la licence du projet avait également expiré. “Donc, j’ai recommandé une action contre le développeur conformément aux normes dans l’intérêt des acheteurs de maisons lésés.”

Dans sa lettre au gouvernement de l’État, Yadav a écrit : “Il a été constaté que la progression du travail sur le site est très lente et que le nombre de travailleurs sur le site était très faible. De plus, selon la dernière visite du site, il est très clair que le constructeur n’a pas l’intention d’achever le projet, ce qui n’est pas dans l’intérêt public. Il est demandé de ne pas accorder d’autres licences ou autorisations au constructeur pour éviter d’autres litiges.”

Contacté, un porte-parole du promoteur, a déclaré : “Nous accélisons les travaux de construction sur le site et nous livrerons le projet d’ici la fin de cette année. Ce n’est qu’une recommandation du DTP (application). Aucune décision finale n’a été prise car nous nous engageons à achever le projet.”

Source by :- https://realty.economictimes.indiatimes.com/

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Deen Dayal Jan Awas Yojna (DDJAY) plotted housing scheme suspended in Gurugram & Faridabad

Author: +91-7765906259
Categories: Gurgaon Property News & Real Estate Updates

Affordable plotted housing scheme suspended in Gurugram & Faridabad over high land cost

More than six years on, chief minister Manohar Lal Khattar ordered the suspension of the scheme in the two neighbouring cities, during a recent meeting with senior officials of the department of town and country planning (DTCP).

GURUGRAM: The state government has put on hold its ambitious affordable plotted housing scheme — Deen Dayal Jan Awas Yojna (DDJAY) — in Gurgaon and Faridabad, citing high cost of land and its failure to benefit the lower- and middle- income families, TOI has learnt.

Prime Minister Narendra Modi launched DDJAY in the state in November 2016, with an aim to put a check on the development of unauthorised colonies apart from providing affordable housing units to the lower- and middle-income families.

More than six years on, chief minister Manohar Lal Khattar ordered the suspension of the scheme in the two neighbouring cities, during a recent meeting with senior officials of the department of town and country planning (DTCP).

In the meeting, sources said, Khattar expressed his concern over the high prices of these affordable units in Gurgaon and Faridabad. He told the officials concerned that the key objective of the policy was to provide affordable homes to the people but the high cost of land in these cities had defeated the entire purpose of DDJAY.

According to DTCP data, around 60 licences were issued under DDJAY in Gurgaon and adjoining areas for developing housing units across 600 acres of land and around 40 licences for 400 acres of land in Faridabad since the launch of the scheme. Around 60 licences are currently under process in these two cities for the same scheme.

Confirming the development, a senior official of DTCP said that due to the high cost of land in Gurgaon and Faridabad, the affordable plotted housing scheme “has turned unaffordable for the homebuyers of the said segment”. “So, the scheme has been put on hold in the two cities.”

A city-based real estate expert said that apart from the cost of land, another loophole in the policy is the absence of a cap on the rates unlike highrise affordable projects, where the per square feet rate is fixed by the state government.

Even the developers are helpless as they purchase the land at high cost and so the project is sold at higher cost keeping margins,” he said.

Developers also said that the affordable plotted housing scheme in Gurgaon and Faridabad is unsuccessful due to the high cost of land. “DDJAY is more beneficial for realtors as the profit margins are high as compared to highrise affordable housing projects,” said a developer.

“Also highrise projects require construction cost, which is not the case in the plotted housing scheme. But then the plots are costing in crores unlike the fixed price of affordable flats which are under Rs 26 lakh, thus making them unaffordable for the common man.”

In August last year, the state government, in order to promote the scheme, announced that the developers who had launched projects under DDJAY would no longer be required to freeze 50% of the plots. They would just require to mortgage only 10% of the project land to the DTCP as security for external or internal development charges.

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Licences of Three Affordable Housing Projects Suspended in Gurugram

Author: +91-7765906259
Categories: Gurgaon Property News & Real Estate Updates

Licences of Three Affordable Housing Projects Suspended in Gurugram

The licences were granted to Ocean Seven Buildtech Pvt Ltd in 2016, 2018 and 201 2018 and 2019 to develop Expressway Towers in Sector 109, Golf Heights in Sector 109, Golf Heights in Sector 69 and The Venetian in Sector 70, respectively.

“GURUGRAM: The department of town and country planning (DTCP) has suspended the licences of three affordable housing projects in the city for the developer’s failure to comply with their terms and conditions.

The licences were granted to Ocean Seven Buildtech Pvt Ltd in 2016, 2018 and 2019 to develop Expressway Towers in Sector 109, Golf Heights in Sector 69 and The Venetian in Sector 70, respectively. However, the developer has failed to deliver the projects to date, triggering vehement protests from the allottees.

DTCP officials have been asked to find out other assets of the developer, while deliberating upon the modalities for the completion of the stalled projects.

In the order, TL Satyaprakash, director general of the town and country planning department, said that the developer has made grave violations of Act No 8 of 1975 and Rules thereof and numerous complaints of the allottees against the developer for the delay of the project through different forums have been received.

“Keeping in view, the interest of the public, grave violations made by you in making compliance of terms and conditions of licence and the project being Affordable Group Housing Colony targeting the housing stock generation for low and middle income groups, the licences granted to your company… are hereby suspended.

“The homebuyers have been raising numerous complaints against the developer for delay in completion of the project.

According to a senior official of DTCP, the licence for Expressway Towers expired in May 2021 and there are outstanding dues of Rs. 13.99 crore on account of external development charges (EDC).

Sanjeev Mann, senior town planner, said, \”Sufficient time was given to the developer to share the schedule for the completion of the projects but there was no clear response from them. Despite repeated directions to clear the outstanding dues and apply for the renewal of license, the developer has not acted.

“On Friday, the homebuyers of Expressway Towers filed a police complaint against the developer and demanded the seizure of passports of the directors and OSB officials, who are allegedly involved in frauds. They have also met the H-Rera member to expedite the proceedings against the developer.

“We were promised possession of our flats in 2021 but to date, only 60% work has been completed. For the past two years, we have been running from pillar to post for the completion of the project as most of us have already paid the 100% of the flat cost,\” said a homebuyer.

A spokesperson for OSB said, “The order was passed against the company without giving us a chance of hearing. We’ll file an appeal against the order with competent authority. We have already applied for renewal of licence. The company is committed to completing the projects.

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Realty Demand in Sohna Has Pushed Due To an Increase in Industry & Infrastructure

Author: +91-7765906259
Categories: Gurgaon Property News & Real Estate Updates

Realty Demand in Sohna Has Pushed Due To an Increase in Industry & Infrastructure

Sohna is now located in South Gurugram and has become an eminent micro-market in the Millennium City. The first stretch of the Gurgaon-Sohna Expressway (NH-248A) has become operationalized, and the commute time between Gurgaon and its southern suburb has come down to mere 15 minutes. It has become faster than it takes to travel within Gurugram. This is the reason Sohna has been seeing heightened demand for real estate.

As you know, Sohna is the entry point of the 1350-km-long Mumbai-Delhi Expressway. After the government’s other game-changing industry and infrastructure development like 1500 acres IMT (Industrial Model Township), Kundli-Manesar-Palwal (KMP) Expressway, freight corridor, Orbital Rail Corridor. Sohna has very close proximity to Jewar International Airport, and operational IGI airport among others making Sohna accessible to various economic hubs.

The industries have been pushed for several companies to set up units in the 1500 acres IMT, connecting Gurgaon-Alwar road and KMP Expressway. The government has developed more than 500 acres as an electronic manufacturing cluster in IMT. Sohna has been growing as a popular destination for warehousing and logistics. This is the reason real estate activities are emerging like never before. Several popular developers are undertaking a modern development that offers holistic living and lifestyle in the lap of nature. So, it has increased the demand for homes but also a consistent rise in habitation. The Sohna real estate has given significant growth since 2013 and it has also delivered over 30,000 units up to the third quarter of 2021, according to Anarock.

Sohna is developing faster than expected and the town possesses natural demand which will further growth in industries and jobs. The increase in demand is due to a reduction in travel time and a change in preference towards a good quality of life, living close to nature, and best-in-class amenities has lured the home buyers, commented on the region, Amarjit Bakshim CMD, Central Park.

Central Park Flower Valley has been spread across approximately 250 acres and 350 plus families. All these numbers have been expected to swell further to over 1000 families as delivery in the group housing project is lined up. Central Park Flower Valley is a completely walled township with a vast swathe of green, a multi-tier security system, and operational amenities like a horse stable, basketball, and volleyball courts, indoor badminton courts, football ground indoor gymnasium, and many more. In fact, the company is going to launch luxury independent floors by the end of this month based on the concept of a fruit valley.

The Dausa stretch of the Mumbai-Delhi Expressway has become a major landmark in India’s infrastructural endeavors. It will reduce the commute time, offering easy access to economic hubs along the expressway and new developments in housing, office, warehousing, and logistics will completely change the socio-economic landscape of Sohna, said Arvind Rai, Director of Valuation Service, Colliers.

Gurgaon is witnessing the rise of air and noise pollution, traffic congestion, and higher commute time for work and entertainment. Residents are gradually moving away from the hustle and bustle of the city to a quieter and more serene location. So, this is the reason Sohna is the most sought-after destination that is replete with not just lifestyle-fused developments and adequate social infrastructure.

There are tons of ancillary industries and warehouses that are operating in the region currently. As IMT Sohna shapes up and industries move to this industrial town, the demand for real estate has seen a manifold rise. Property price in Central Park Flower Valley has seen a 2.5-4 time rise.

The connectivity has become a catalyst of this region and the upcoming Sohna-Dausa stretch of DMIC, Gurugram. The micro market has experienced multiple benefits. Sohna is the emerging realty hub in Gurugram which has improved the connectivity and transportation links to other cities. This has also encouraged businesses to set up offices and factories, said Pradeep Aggarwal, Founder & Chairman of Signature Global (India), Ltd.

Sohna has transformed with better connectivity and industrial activities, and more employment opportunities are being created.

 

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Gurugram to be Refurbished into a New Look by 2025

Author: +91-7765906259
Categories: Gurgaon Property News & Real Estate Updates

Construction of eight overpasses is included in the re-evolution of Southern Peripheral Road (SPR). This includes footpaths, trails etc. and all these construction works will be completed by 2025. Chief Minister of Haryana, Manohar Lal Khattar approved the project and announced that expected completion time is around two to three years. Gurugram’s Metropolitan Development Authority (GMDA) is channelizing all their energy towards floating tenders for the project and allocation of work. Since the deadline for this project is 2025, ground work will most probably start from next year i.e., 2023. After the renovation, this stretch of road will start from mid 2025 for the commuters providing them ease from congestion and traffic.

8 flyovers planned on stretch

GMDA officials have told that since March 2019, planning of upgrade of SPR project was started. Initial plan was to convert the section between Ghata village and Vatika Chowk also known as Golf course (Extension), into a band with no signal. The project has been reworked several times since, with the GMDA in December proposing to build five overpasses along the 6-kilometer road. This project is firmly expected to provide connectivity with Dwarka Expressway across a clover interchange currently under construction. The important SPR stretch of 12km connects three national highways – QL-8, Gurugram – War Highway and Gurugram -Mehrauli Highway. It is also expected to provide connectivity with Dwarka Expressway across a clover interchange which is currently under construction. Furthermore, officials expect that once Dwarka Expressway and Sohna Road are put into operation by the National Highways Authority of India, traffic on the SPR is likely to increase greatly and hence this refurbishment is extremely important.

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Newly opened Sohna Elevated Road to boost the Gurugram’s Real Estate market

Author: +91-7765906259
Categories: Gurgaon Property News & Real Estate Updates

A section of the elevated road between Subhash Chowk and Badshahpur is now open to travelers. The construction is intended to shorten travel times and ease traffic congestion between Gurugram and Sohna. The elevated main route will also be connected to the Delhi-Vadodara expressway by an entry at Alipur. Sohna Road is a prime illustration of how Gurugram has consistently made a significant contribution to the expansion of the NCR real estate sector. Sohna, located among one of the country’s oldest mountain ranges, home to lakes, hot springs, temples, and various historical buildings, has remained a well-liked tourist destination. South Gurugram is another name for the district of Sohna, which is located in Gurugram. Over the past two decades, Gurugram has experienced tremendous economic expansion, which has accelerated urbanization and boosted the real estate sector.

Many projects have over the time been relocated to the city’s western and southern districts because of the rapid demand in rising areas like MG Road, Udyog Vihar, and Cyber City. Sohna Road, Golf Course Extension Road, and Southern Peripheral Road (SPR), which extends all the way to Sohna town, are just a few of the new areas that resulted from this. The working-age population of Gurugram is increasingly choosing to buy real estate in Sohna. This makes the area, a desirable site to invest in residential real estate due to its accessibility, excellent social infrastructure, and affordability. Sohna Road in Gurugram has thus become one of the most sought-after real estate sites.

The Sohna elevated road opening will provide increased and enhanced connection to significant regions and economic areas of Gurugram. It will shorten travel times and facilitate mobility to locations where getting there took a long time owing to traffic. After commuters are granted access to the 22-km Sohna elevated road, real estate development in the area will also increase. End users employed in places such as Golf Course, Golf Course extension road, and cyber hubs will increasingly opt for the Sohna region.  With Sohna’s excellent connectivity to Gurugram’s commercial centers, the real estate market would naturally grow.

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What makes Gurgaon a Hotbed for Realty Investments?

Author: +91-7765906259
Categories: Gurgaon Property News & Real Estate Updates

Gurgaon has been enjoying its glory years as it becomes the one stop destination for the investments in Delhi-NCR region. The demand for investments in this city is continuously rising. This city is projected as one of the IT cities of country because of the influx of investments and establishment of infinite corporate firms. With the growing factors like optimal connectivity, highest per capita income, employment opportunities, and an upscale infrastructure etc. the millennium city has established its mark in the real estate sector luring the buyers from all across the world.

Bombardment of investment opportunities for upper class of society

The residential market is brimming with opportunities as HNI’s, corporate giants, and the NRIs are looking for upscale residential spaces from branded and reputed developers. As a result, sales in plots, flats, villas, residences etc. have sprung up, owing to low-interest rates and higher ROI. The weakening of the Indian rupee, all-time low-interest rates and an increased inclination to owning a property back home have motivated NRIs to invest in real estate markets in India. Since, Gurugram is one of the major IT hubs of India, it has become a popular thought among working professionals to own a comfortable living spot in the city.

Promising future of residential sector

A sudden massive hike in the behavioral transformation of customers post pandemic is seen where the need of buying the homes for safety and security has doubled the growth of residential sector. The residential real estate market imploded with such opportunities of the gurgaon region has opened the portal for the investors as more and more investors are now investing in this millennium city for building luxury and affordable houses. In the months of January-March of the year 2022, the demand rose 4.6 percent quarter-on-quarter (QoQ) across 13 Indian cities and in the city of Gurugram, a 9.6 percent growth was reported according to the Magic bricks Prop Index Report. Pandemic has led to the significance of comfort of having their own home to the people and hence the market is booming because of the positive trends and environment acting in its favor.

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Top 10 Flats in Gurgaon – Gurugram

Author: +91-7765906259
Categories: Uncategorized

Top 10 Luxury Flats in Gurgaon

Gurugram is becoming a bellwether of luxury living due to continuous rise in living standards of people. This high surge for the luxury properties in Gurgaon is because of increased need of comfort and luxury among the individuals. Gurugram has now emerged from the slumber of last few years and is now ready for a poised comeback in the real estate sector especially in the luxury property sector. With facilities of complete automation, self-sufficient sustainable home, 24*7 power backup and 7-tier safety and security, Gurgaon has witnessed a drastic positive change in quality of living through these luxurious properties. Some of the best upcoming luxury  properties of Gurgaon to invest in are listed below:

M3M CAPITAL, SECTOR 113

M3M Capital located in sector 113 brings forth the opportunity to live within the surroundings of greenery and nature. The luxury of living in modern and smart environment with holistic approach will be enjoyed by residents. The project lies on the most sought location of Dwarka Expressway and provides spacious layouts of apartments in 2.5, 3.5, 4 and 4.5 BHK unit type with each family enjoying the lifetime view of central greens from their balconies. This township is one of its kind with spreading over the span of 236 acres, giving the residents ample space to explore commercial and retail stores, largest clubhouse, recreational activities etc. M3M Capital has enthralled the apartments to bask in the freshness of nature.

BIRLA NAVYA, SECTOR 63A

The project “Birla Estates Navya” aims to rejuvenate a lifestyle that revolves around freshness, harmony and balance through their “low rise floor” plans. Getting inspired from life, a serene ordeal of enrichment through well-thought details is exhibited in their 3 and 4 BHK units. This top-tier project is located in the premium location of Sector 63A, Golf Course extension road adjacent to AIPL Joy Square in Gurgaon. A lifestyle embedded in the modern living to provide unrivalled experience to its user, Birla Navya aims to raise the bar of sustainable lifestyle by setting new benchmarks of robust and premium infrastructure.

ADANI SAMSARA VILASA, SECTOR 63A

Adani Samsara Vilasa is a premium ultra luxury project strategically positioned in sector 63, Golf Course Road, Gurgaon, with sole mantra “to provide the users the experience of living a life full of affluence”. This luxury property in gurgaon will take you on vacation of comfort and peace in your own abode of heaven. These premium low rise floors in Gurgaon are available in 3BHK and 4BHK unit type with each family living independently on a single floor. This township is one of its kind and spreads over the span of 18 acres, giving the residents their private space and a chance to better living.

SIGNATURE GLOBAL CITY, SECTOR 63A

Designed by Architect Hafeez Contractor and interior by Sonali Bhagwati, Signature Global City 63A becomes an ultra-luxury housing project that comprises of independent luxurious floors in the units of 2 BHK and 3 BHK. This project is spread across 5 acres of area where you can enjoy the perfect blend of luxury & health for a holistic living. This upcoming low-rise housing project is crafted in accordance with the requirements of its residents and this why, it is considered as one of the finest residential housing project of Gurgaon. These DDJAY low-rise floors provide the comfort, peace and luxurious amenities within the range of middle-class section of society.

SHAPOORJI PALLONJI JOYVILLE, SECTOR 102

Shapoorji Joyville Gurgaon spans over 18 acres of area with the wide range of 2 & 3 BHK apartments. These ultra-luxurious apartments are designed with optimum use of space and keeping in mind the comfort of its residents. Active and energetic lifestyle is lived by the inhabitants with its modern range of amenities starting from gym, spa, clubhouse, sports hub, jogging track, party hall etc. to make your sedentary day, a lot better. Located near the upcoming retail destination of gurgaon, Dwarka Expressway, Joyville gurgaon becomes the best option for those who aspire to live the lifestyle filed with opulence.

TULIP MONSELLA, SECTOR 53

Known for creating world-class luxury residences, Tulip group is presenting “Tulip Monsella” in sector 53 where marvelous architectural design will be witnessed. Being located at Gurgaon’s most prestigious location of sector 53, golf course road, this residential project enjoys excellent connectivity with other key points of the city. Tulip Monsella offers 3, 4 and 5 BHK apartments with bulk loads of top-notch amenities that residents can enjoy for their life. These ultra-luxurious apartments will offer uncountable location benefits where all the key parts of city are just stone’s throw away.

EMAAR DIGIHOMES,  SECTOR 62

Emaar Digi Homes is another luxurious residential project that deserves to be in the top charts of gurgaon’s luxurious lifestyle. Located in sector 62 of gurgaon, the project offers 2 and 3BHK apartments to the residents in the heart of the prime golf course extension road. These smart and automated apartments are designed to work on touch and voice command of the inhabitants giving them pure luxury feels. Emaar Digi Homes promise the best quality of luxury living to its residents by providing high construction quality.

CONSCIENT HINES ELEVATE, SECTOR 59

Conscient Hines Elevate is an ultra-luxury residential project on prime location of golf course extension road designed to make its residents feel “elevated.” All the aspects of these 3BHK flats have been meticulously designed to create a well organized lifestyle for its users. Live a lavish lifestyle amidst lush surroundings of sector 59 with Conscient Hines Elevate. This residential development spanning 7.78 acres is a touchstone of luxury living inspired by nature. This luxurious housing project provides you a unique chance to live in a community with easy access, lots of facilities, and more than 75% open space.

HERO HOMES, SECTOR 104

Hero Homes are one of the top luxurious residential projects in Gurgaon to gain the trust of people. They are known for providing holistic, elevated and enriched lifestyle to their inhabitants. Located at the upcoming iconic retail destination “Sector 104, Dwarka Expressway”, Hero homes developed their project on the parameters of fitness, sustainability, community and creativity. Featuring 2 and 3BHK smart apartments that respond to your comfort, hero homes provide positive energy and healthy lifestyle to the residents. For peaceful surroundings, Hero Homes expand their thoughts to build smarter solutions for environmental, spiritual and physical wellness that includes yoga area, open green spaces, jogging track, cycling track etc.

GODREJ MERIDIEN, SECTOR 106

Premium 3 and 4 BHK apartments of Godrej Meridien sector 106 open the doors to the unparalleled luxurious life for their residents. This luxury project provides the plush resort like environment for their users to experience the luxury living. Godrej Meridien provides an elevated lifestyle for those who deserve the best. Location of Dwarka Expressway is the epicenter of this project making it perfect for grandeur lifestyle.

Due to forthcoming of such luxurious projects and rising demand for world-class living, real estate experts have forecasted that Gurgaon’s real estate value will rise significantly in the coming decade. So, if you’re looking to invest in real estate, these luxury properties of Gurgaon will surely give you a good return on your investment.

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Final Stretch of “Delhi-Mumbai Expressway” to open from July 11

Author: +91-7765906259
Categories: Gurgaon Property News & Real Estate Updates

One of the largest infrastructure projects in Delhi-NCR, the 21km elevated road from the Gurugram-Delhi Expressway to Sohna has finally reached its inauguration stage dated July 11. Nitin Gadkari along with Union minister Rao Inderjit Singh will inaugurate the six-lane Sohna elevated road next Monday. Since the work on 9km stretch of elevated road between Rajiv Chowk and Badshapur finished this week, this entire portion will be opened to commuters in coming days. Remaining portion was already opened for the commuters from April connecting Badshapur and Sohna. Total budget of the project is Rs. 2000 crore and this project will help in providing ease to commuters as the distance between Gurugram and Sohna will be reduced many a times by solving the traffic issues.

With the opening of Delhi-Mumbai expressway, relief will be provided to commuters as signal-free corridor junctions such as Vatika Chowk will be provided to them. Vatika chowk is mostly congested during the peak office hours due to Southern Peripheral Road running adjacent to elevated road in Gurugram. NHAI officials have recently announced two more access points near Subhash Chowk and Jail Road in the city. Apart from the Gurugram-Sohna connection, the elevated road is expected to cut travel time for the 120km journey between Gurugram and Alwar to less than two hours which earlier used to take more than three hours to cover. This route is extremely vital to Delhi-Mumbai Expressway link connecting India’s two largest urban centers via Haryana, Rajasthan, Madhya Pradesh and Gujarat.

Construction of package 1 of this Delhi-Mumbai Expressway link completed earlier in the budget of Rs. 944 crores and it was opened from the month of April whereas construction of package 2 will cost around Rs. 1000 crores and this part will open from July 11. Construction of package 2 was repeatedly delayed due to pandemic disruptions, ban on construction in NCR during the heavily polluted winter months and issues with shifting existing infrastructure on the route.  Residents are awaiting this project from long time and are relieved that finally the construction is over. They are hopeful that this expressway will resolve traffic congestions, not just on Sohna road but also at intersections like Vatika Chowk.

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