Gurgaon Property News & Real Estate Updates - Gurgaon Property Dealer

Feb 24 No Comments

Gurugram: DTCP seals 20 commercial buildings in Saraswati Kunj

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Categories: Gurgaon Property News & Real Estate Updates

RS Batth said that the property owners were running commercial activities from the residential buildings without any change in land use permission.

GURUGRAM: The enforcement team of town and country planning department (DTCP) razed more than 200 hutments and sealed around 20 commercials buildings in Saraswati Kunj, adjoining Golf Course Road on Tuesday.

In presence of around 100 policemen, the enforcement team led by district town planner RS Batth demolished illegal structures — automobile repairing workshops, restaurants, meat shops and tyre shops among others—constructed on residential plots of the colony.

Batth said that the property owners were running commercial activities from the residential buildings without any change in land use permission. When the team reached the colony, some shopkeepers and showroom owners shut their establishments and left the place in order to avoid action.

But the premises have been sealed and penalty will be imposed on them as per the norms, an official said.

Taking serious note of unauthorised construction in residential buildings, Batth said if the property owners, in the colony, are found carrying out illegal construction then the enforcement team will demolish the entire building and file FIR against the violators.

The property owners opposed the demolition drive and alleged that they have been paying commercial tax to the Municipal Corporation of Gurgaon therefore they can carry out commercial activities. The enforcement team, however, clarified that CLU permission is mandatory for setting up commercial activities, paying commercial tax to civic body is not sufficient.

Feb 10 No Comments

Luxury Realty Giant, Central Park Acquires 10 Acres Land from Another Realty Major BPTP at Rs. 100 Crore

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Categories: Gurgaon Property News & Real Estate Updates

Central Park is recognized as the fastest growing ultra luxury realty brands known for redefining luxury by building finest residential properties. It has established a great foothold in National Capital Region as the promising real estate developer. It has delivered 5.5 million sq.ft of land area across luxury residential property in prime locations of Gurgaon.

Luxury real estate developer, Central Park has acquired a land parcel of 10 acres from BPTP for Rs 100 crore. The developer has delivered 1800 homes in 30 months and about 5.5mn sq.ft area across luxury residential and hospitality sector. The township is nestled in the backdrop of Aravallis which include luxurious assets amidst plush green landscapes, exquisite flora and water bodies.

The real estate company is owned by the Bakshi Group and the company will invest up to Rs 1,000 crore to extend residential and commercial facility development on the Dwarka Expressway. It is soon going to be an upcoming residential hub near the Delhi airport.

As said by said Amarjit Bakshi, founder, chairman and managing director of the Bakshi Group “There is a lot of development coming up on Dwarka Expressway and we will schedule the construction as per the requirements of the region. The proximity to the airport and The proximity to the airport and upcoming convention centre will help the region to attract demand from both investors and end users,”.

The real estate major, Central Park has in its kitty planned projects of about 12 million square feet across Gurugram, Delhi and Goa. BPTP real estate developer has huge amount of holdings in Gurugram and Faridabad and the developer has been selling land parcels in these cities.

Central Park has initially developed its first residential condominium in Gurgaon’s Golf Course Road in 2001. Mr Bakshi has said “We will continue to focus on luxury living and serviced apartments, and resort-type living will be part of it,”.

Bakshi Group has diversified portfolio of business including infrastructure, hospitality, real estate, defence, and automotive industries.

Under the brand called Central Park, the developer has upcoming real estate projects in Sohna, in Gurugram.

Source

Feb 10 No Comments

DLF pre-leases 2.1 lakh sq ft space in Gurugram to Syneos Health

Author: +91-7765906259

Categories: Gurgaon Property News & Real Estate Updates

The company has taken space in DLF Downtown, an upcoming project in Gurgaon. The building is scheduled for completion in December 2021 and DLF has pre-leased close to 500,000 sq ft.

NEW DELHI: Realty major DLF has leased 210,000 sq ft of office space to US healthcare company Syneos Health, in one of the largest deals in commercial real estate in Delhi-NCR in recent times, three people aware of the development said.

The company has taken space in DLF Downtown, an upcoming project in Gurgaon.

The building is scheduled for completion in December 2021 and DLF has pre-leased close to 500,000 sq ft.

“Syneos Health was looking for a big space and have signed a letter of intent with DLF. Some of the 2.1 lakh space is under commitment to be taken later, whenever they expand their operations in India,” said one of the persons quoted above.

DLF is expected to handover the building for fit out in December 2021 and Syneos is likely to move in by March 2022.

DLF declined to comment while Syneos Health did not respond to email query till press time.

The first phase of Downtown Gurgaon— being developed under DLF Cyber City Developers (DCCDL), a joint venture between DLF and GIC—with leasable area of 1.5 million sq ft, is expected to become operational by December 2021.

“The development of Downtown, at Gurugram and Chennai, and Noida project remains on track,” DLF had said in a statement while announcing results for the quarter ended December 2020.

The first phase of Downtown Gurgaon, with leasable area of 1.5 million sq ft, is expected to become operational by December 2021. The deadline was pushed back from July 2021 due to Covid-19.

According to property consultants, leasing activity has increased in the last few months in Delhi-NCR.

Source

Feb 02 No Comments

Shapoorji Pallonji’s realty platform Joyville to invest Rs 400 crore in Gurugram housing project

Author: +91-7765906259

Categories: Gurgaon Property News & Real Estate Updates

NEW DELHI: Business conglomerate Shapoorji Pallonji’s real estate platform Joyville will invest around Rs 400 crore to develop the third phase of its housing project in Gurugram as demand for residential properties has recovered from June last year, a senior company official said on Sunday.

In an interview with , Joyville Shapoorji Housing Managing Director Sriram Mahadevan said the housing sales were hit badly during the April-June quarter of this fiscal year due to the COVID-19 pandemic, but demand has improved significantly thereafter.

Joyville is a USD 200 million mid-income housing platform established by Shapoorji Pallonji, ADB, IFC and Actis.

In January 2019, the company had launched the first phase of the 18-acre project ‘Joyville Gurugram’ on Dwarka Expressway in Gurugram, Haryana. The second phase was launched in June, 2019.

“We have launched the third and the last phase of our housing project in Gurugram. We will develop more than 400 units in this phase,” Mahadevan told in an interview.

Mahadevan said there had been price appreciation in this project over the last two years. In contrast, the first phase was launched at Rs 5,800 per sq ft, the unit in the third phase costs around Rs 7,200 per sq ft.

Asked about the investment, Mahadevan said the project cost for the third phase would be around Rs 400 crore.

The Joyville platform is developing around 1,500 units in all three phases of the project with a total investment of Rs 1,200 crore. It bought the land parcel from another real estate developer BPTP Ltd.

“There is a clear cut shift of customers towards quality. They are relying more on brands. Millennials are looking at residential properties for buying. There is also a renewed interest of homeownership,” he observed when asked about the demand scenario during this pandemic.

So far, six projects have been launched under the Joyville platform, of which three are in Pune and one each in Mumbai, Kolkata and Gurugram.

“During this pandemic, we launched two projects in Pune and have got a good response from the customers,” Mahadevan said, adding that the company has adopted digital tools in a big way to reach out to potential buyers.

In December last year, the company launched a new housing project, ”Sensorium” in Hinjawadi, West Pune, spread over 10-acre and comprising over 1,100 flats, with an investment of about Rs 700 crore. Before that, in October, a 21-acre housing project, “Joyville Hadapsar Annexe” was launched in East Pune, comprising more than 2,700 units.

“Across six projects, we have launched around 5,200 units so far, and out of that, 75-80 per cent are already sold. There is development potential for about 4,000 units more in these six projects,” Mahadevan said.

The platform has started the handover process of Phase 1 at Joyville Howrah (near Kolkata) as per the timeline and is planning to begin the handover process of Phase 1 at Joyville Virar (near Mumbai). The construction works are underway in the other housing projects.

Apart from this platform, Shapoorji Pallonji group firm Shapoorji Pallonji Real Estate has a development pipeline of over 80 million sq ft.

https://realty.economictimes.indiatimes.com/news/industry/shapoorji-pallonjis-joyville-to-invest-rs-400-crore-in-housing-project-at-gurugram/80431617

Jan 27 No Comments

Real Estate to Boost in 2021, Conducive Policies & Economic Stability Play as Major Contributors

Author: +91-7765906259

Categories: Gurgaon Property News & Real Estate Updates

The onset of year 2021 is welcomed by real estate industry experts with positive sentiments and hopes that market will bounce back to pre-COVID levels this year. Credit goes to favourable economic policies framed by government and active government initiatives to invoke demand for real estate. One of the most vital lessons that yr 2020 has taught us is that you need to have your own house in order to survive unprecedented times.

M3M property in Gurgaon has made it easy for house hunters looking around options for Residential Property in Gurgaon. Today, M3M offers 15 residential projects in Gurgaon and 13 lucrative options for Commercial Property in Gurgaon. Some of the popular M3M residential property in Gurgaon include M3M Sierra 68, M3M Natura sector 68, M3M St. Andrews,M3M Polo suites,M3M sky suites, M3M woodshire, M3M Merlin, M3M Escala, M3M Fairway west, M3M Golf estate and more.

M3M Director, Pankaj Bansal positive opinion states, “We expect that 2021 will see consolidation of the industry in favour of organized developers, leveraging technology to enhance customer experiences and customer-centricity as the key objective of developers. In the commercial segment, the high-street concept has gained momentum as compared to malls and this will continue in the coming year. The residential segment is already on the path to recovery owing to the pent-up demand and the need to invest in well planned, spacious homes amidst extended work from home.”

Another realty giant, DLF Ltd. CMO, Mr Karan Kumar’si very positive about quick boost in demand for residential property in Gurgaon. According to him “the demand for exclusive residential properties will likely continue well into 2021. Also, with home-loan rates being all-time low, the demand and inquiries have seen a steep jump, and we expect this to continue even in the next financial year. We see a number of NRIs either moving back to India or looking at investment options here. This will boost the demand for homes starting from mid-segment housing to luxury and super luxury homes,”

Amarjit Bakshi, Chairman & Managing Director, Central Park, is being very hopeful for hike in demand for residential property market, “Housing sales saw a sharp recovery in the seco.nd and third quarter in all top cities compared to the preceding quarter. With this, it is further expected that the sector will exhibit healthy growth in the future. There is an emerging trend of settling into townships due to the availability of a plethora of amenities available to the residents within the vicinity. Integrated urban areas with spaces that are multi-purpose for use will gain more momentum.”

Anuj Kumar Garg, Vice President Customer Engagement & Distribution, Viridian RED said, “The prospect of Indian commercial real estate seems resilient in 2021. In the last few months, a couple of transactions led by global firms in the Noida region have strengthened the market sentiments. Noida has emerged as a premium business destination and the announcement of mega infrastructural developments like Film city & Noida international Airport further bodes well for its realty market. Lowest interest rates, NRIs return to India, aggressive policies of UP government, thrust to the manufacturing sectors have boosted the demand of the office space market in the region leading to a South Korean mobile brand & global IT giants company relocating their offices to Noida.”

The seeds of positive news can be seen germinating for commercial property market as well. Commercial real estate has witnessed traction in the third quarter of 2020. A JLL report points out that net absorption increased by 63% to 5.4 mn sq. ft in Q3 2020. Since malls have been opened from quite some time now with all safety measures and precautions, customer footfalls are continuously increasing to match pre-COVID level. If you are finding reliable commercial property in Gurgaon, then you can check M3M commercial Property in Gurgaon. Some of the popular M3M commercial projects in Gurgaon include M3M Broadway, M3M Prive, M3M corner walk, M3M 65^th Avenue, M3M Urbana Business Park, M3M Skylofts, M3M IFC, M3M MY DEN, M3M Urbana Premium and more.

Jan 27 No Comments

Here’s a Good News for Property Buyers Around Dwarka Expressway, Part of NH8 is Set to be Ready by June

Author: +91-7765906259

Categories: Gurgaon Property News & Real Estate Updates

If you are planning to buy property in Dwarka expressway Gurgaon or seeking Property in NH8 Gurgaon, here’s good news for you!

GMDA has said, the much awaited six lane road connecting Dwarka expressway and Umang Bhardwaj chowk, which is a vital link to NH8, will get completed by June 2021. Currently, 60% of the work is done and the remaining will be done in next six months. This project is composed of 5.8km stretch from NH8 and Dwarka Expressway where the two flyovers namely Basai chowk and Umang Bhardwaj chowk will be built. It is also proposed that the widening of road will be done from Umang Bhardwaj chowk to Dwarka Expressway. Both GMDA and NHAI will be developed together. It is planned that first 2kms between Hero Honda Chowk and Umang Bhardwaj Chowk will be done by NHAI and the rest will be built by GMDA.

As said by GMDA Official, “we have completed work on the 3km stretch between Umang Bhardwaj Chowk and Dwarka Expressway and should be able to finish the remaining part of the project by June”.

The part of the project includes development of flyover of 820 metre over Basai chowk. FOB is also being developed by GMDA near Basai lake for pedestrian movement. Good news is that the work on the FOB has already being started. This will enable pedestrian to go from Basai Village towards sector 9 without the need of crossing the road. The cost of the portion between Umang Chardwaj Chowk and Dwarka Expressway is around Rs. 80.75 crore. The moment it will become operational, the road will fill up the gap between the new sectors, along the Dwarka Expressway and parts of the old city. During the visit of CM Manohar Lal Khattar to Gurugram in April 2017, the six lane prpject was proposed when he had come to inspect then ongoing development projects in the millennium city. The work on the project started in November 2018 after khattar announced the revamp and road widening in August 2017. This has certainly raised the demand for property in Gurgaon.

Jan 05 No Comments

Sohna Road is NCR’s Top Micro Real Estate Market

Author: +91-7765906259

Categories: Gurgaon Property News & Real Estate Updates

GURUGRAM: Sohna Road and Dwarka Expressway in Gurugram have emerged as the top performing real estate markets in NCR, with an appreciation of 19% and 14%, respectively, in the average property prices since 2013. This is as per the latest report released by realty consultants Anarock. And these two micro markets are followed by New Gurgaon, Sohna and Noida Extension, where the appreciation has been in double digits.

Overall, the report says that the average property prices in the top seven cities of India in the past seven years saw close to a 14% jump. The average price of a home in the top seven cities rose from approximately Rs 4,895 per square feet in 2013 to Rs 5,599 per square feet by the end of the third quarter of 2020. Among these, Pune saw the maximum rise of 38%, followed by Bengaluru and Hyderabad, with 20% growth each.

Interestingly, NCR was at the last with merely 2% overall appreciation in property prices from Rs 4,488 per square feet to Rs 4,580 per square feet in the past seven years. While Sohna road witnessed an increase in the average price from Rs 5,640 to Rs 6,707 per square feet, the property rate in Dwarka Expressway appreciated from Rs 4,668 to Rs 5,340 per square feet in the past seven years, the report says.

Similarly, with 13% appreciation, the average realty prices increased from Rs 5,375 to Rs 6,100 per square feet in New Gurgaon. In Greater Noida (west), the hike has been 11% from Rs 3,050 to Rs 3,370 per square feet, according to Anarock.

Prashant Thakur, director (research) at Anarock, said, “While considering cities to invest in, the much-hyped housing inventory overloads need to be viewed contextually. Slow-moving housing inventory tends to be in unviable locations of a city, and the same city will invariably have pockets which draw good demand.”

Source By: https://timesofindia.indiatimes.com/city/gurgaon/sohna-road-is-ncrs-top-micro-real-estate-market/articleshow/79769230.cms

Jan 05 No Comments

Haryana cabinet approves amendments in affordable housing policy

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Categories: Gurgaon Property News & Real Estate Updates

As per the amendments, the maximum area limit of project under affordable housing is increased from 10 acres upto 30 acres. The minimum area limit for setting up of Affordable Group Housing Colony has been reduced from 5 acres to 4 acres.

CHANDIGARH: In a bid to increase the scope of affordable housing, the Haryana cabinet on Wednesday gave the go ahead for amendment in Affordable Housing Policy-2013 Haryana Development and Regulation of Urban Areas Act 1975 for change in Minimum Area Limit, Project Area Limit and Increase in Commercial Component and Parking Provisions.

As per the amendments, the maximum area limit of project under affordable housing is increased from 10 acres upto 30 acres. The minimum area limit for setting up of Affordable Group Housing Colony has been reduced from 5 acres to 4 acres. It is pertinent to mention that although the minimum area norm is being proposed to be reduced from 5 acres to 4 acres yet the colonizer will provide the community building as per the norms prescribed for 5 acres.

Further, community buildings shall be provided as per the norms for Internal Community Buildings as per policy, where population exceeds 10,000 in a colony. As per the amendment, now the commercial area has now been increased from 4 percent to 8 percent of Net Planned Area.

Furthermore, the existing Para 4 (iii) of the Affordable Group Housing policy-2013 may be amended to the effect that, the existing provision of providing 0.5 Equivalent car space (ECS) shall continue to remain mandatory and non-chargeable. The colonizer shall be allowed to provide additional 0.5 ECS parking space per dwelling unit, which shall be optional, against which it can allot one car parking space for each dwelling unit.

The colonizer shall be allowed to recover not more than 5 percent of the cost of flat against such allotment of car parking space.

As an additional safeguard, in cases where licenses under AHP 2013 already stand granted and building plans stand approved without availing the optional 0.5 ECS per dwelling unit parking space, the colonizers shall be required to submit the consent of atleast two thirds of the allottees as per the provisions of Section 14 of Real Estate (Regulation and Development) Act, 2016, for the purpose of amendment in building plans for availing such additional an optional 0.5 ECS per dwelling unit parking space. Further that this benefit shall not be made available for the projects wherein occupation certificate of all the residential towers has already been obtained.

Oct 25 No Comments

M3M Records 500 Crores Of Sales Within 14 Days Of The Launch Of ‘Port Your Property’ Campaign

Author: +91-7765906259

Categories: Gurgaon Property News & Real Estate Updates

M3M Group in association with PYP introduces a campaign redefining the rules of Indian Real Estate.

Delay in delivery leading to innumerable stalled real estate projects is the prime challenge faced by customers in the real estate scenario. A majority of them have paid a lump sum for their dream property, but uncertainty looms as to when they would get its possession.

An Anarock research highlights that there are approximately 1.82 lakh stalled units in NCR with Gurugram leading, accounting for 31per cent of the overall share. M3M group being the game changer in the real estate industry gauged the magnitude of this need and worked out a solution for the same.

“PYP proposition has received an encouraging response and we clocked sales of INR 500 crores in two weeks. NCR leads the demand for home swaps. In the cases where we get multiple inquiries for a single project, M3M would consider even taking over the project for completion. We have formed a dedicated advisory to provide strategic counsel and facilitate the porting process of properties,” said Pankaj Bansal, Director, M3M Group.

Amidst such an unprecedented time, that of the pandemic, M3M Group in association with PYP has come up with a campaign to help buyers tide over uncertainty and own their dream property. The campaign titled ‘Port Your Property‘ will help customers who are facing issues owing to undelivered projects for which they have already paid a significant sum.

This new campaign also allows buyers to upgrade their property by opting for a new project out of the entire M3M portfolio, be it residential or commercial; ready-to-move-in or under construction. This novel initiative is a testament to M3M Group’s commitment to go the extra mile to address customer concerns and enhance their experiences.

Under the campaign, the amount that the customer has invested in the stuck project would be adjusted against the cost of the new property opted, for among the M3M offerings. Equipped with thorough subject knowledge, the PYP experts will advise customers to choose from an array of ready-to-move-in or under-construction properties across the spectrum, taking into account the customer preferences and budget.

All these initiatives indicate the ability of the M3M Group to go beyond customers’ expectations, with speed, iconic offerings, curated customer experiences and innovation being amongst its core philosophy.

The COVID-19 pandemic has fundamentally re-imagined the rules in real estate like never before. The restarting of economic activity and revival of consumer and investor sentiment has set the pace for real estate to embark on an upward trajectory.

With its first campaign, post unlocking of businesses and market, M3M Group recorded sales worth Rs 1150 crores during the July-August 2020 period on launching Unlock Gurugram campaign across spectrums.

Source

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Category: <span>Gurgaon Property News & Real Estate Updates</span>

Gurugram: DTCP seals 20 commercial buildings in Saraswati Kunj

Luxury Realty Giant, Central Park Acquires 10 Acres Land from Another Realty Major BPTP at Rs. 100 Crore

DLF pre-leases 2.1 lakh sq ft space in Gurugram to Syneos Health

Shapoorji Pallonji’s realty platform Joyville to invest Rs 400 crore in Gurugram housing project

Real Estate to Boost in 2021, Conducive Policies & Economic Stability Play as Major Contributors

Here’s a Good News for Property Buyers Around Dwarka Expressway, Part of NH8 is Set to be Ready by June

Sohna Road is NCR’s Top Micro Real Estate Market

Haryana cabinet approves amendments in affordable housing policy

M3M Records 500 Crores Of Sales Within 14 Days Of The Launch Of ‘Port Your Property’ Campaign

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