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Infrastructure work hit, takeover of DLF areas delayed: Gurugram civic body

“As the lockdown restrictions eases, we will call a meeting of the MCG officials and DLF to review the status of work done for the handover and will then set a fresh deadline,” said Hariom Attri, joint commissioner-3, MCG.

GURUGRAM: The Municipal Corporation of Gurgaon (MCG) has decided to extend the deadline set for DLF to complete the pending civic infrastructure work in DLF-1, 2 and 3 for their handover to the corporation.

“The deadline will be extended since there is shortage of manpower. No work was done in the last two months due to lockdown. As the lockdown restrictions eases, we will call a meeting of the MCG officials and DLF to review the status of work done for the handover and will then set a fresh deadline,” said Hariom Attri, joint commissioner-3, MCG.

In the meeting held in February, DLF had submitted a tentative timeline to complete the pending work between July and December.

However, the MCG officials found the timeline too long and had set a deadline of June 30.

“Around 70% to 80% of the work, related to roads have been completed in the DLF-1 and 2. This was the status before the lockdown was implemented. However, a majority of work is still pending in the DLF-3. We have not yet been able to convene a meeting and discuss the takeover,” said a senior MCG official.

DLF officials did not comment on the matter.

The takeover of DLF-1, 2 and 3 was announced by chief minister Manohar Lal Khattar in 2016.

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DLF Gurgaon leases 3 lakh sq ft office space in Gurugram :- DLF Downtown

Real estate firm DLF NSE 2.90 % has leased nearly 300,000 sq ft office space to three companies in Gurgaon at a time when the Covid-19 pandemic has slowed down commercial deals, said two people aware of the development.

The corporate has leased 180,000 sq ft house to Microsoft, 40,000 sq ft to Morepen and one other 80,000 sq ft to an undisclosed world information administration firm.

Majority of the house has been taken at DLF Downtown, an upcoming venture in Gurgaon.

“The leasing is a part of these corporations’ growth plan as soon as the present Covid-19 state of affairs stabilises. The constructing the place house has been taken is below building and is predicted to be prepared by December 2021,” mentioned a property marketing consultant, who didn’t want to be recognized.

Sriram Khattar, managing director of DLF Rental Enterprise, mentioned the corporate is not going to touch upon particular person offers.

Microsoft and Morepen didn’t reply to queries emailed by ET.

Earlier this yr, DLF had leased 210,000 sq ft of workplace house to US healthcare firm Syneos Well being, in one of many largest offers in industrial actual property in Delhi-Nationwide Capital Area (NCR) in latest months. The corporate had additionally taken house in DLF Downtown.

The primary section of the venture – being developed below DLF Cyber Metropolis Builders, a three way partnership between DLF and GIC, with leasable space of 1.5 million sq ft – is predicted to change into operational by December 2021.

The workplace house leasing in Delhi-NCR witnessed a internet absorption enhance of 5% quarter-on-quarter in January-March, with 1.07 million sq ft, in keeping with a report by worldwide property marketing consultant JLL.

“Delhi-NCR continues to be a vibrant location for the workplace market, with well-established submarkets and corridors,” mentioned Manish Aggarwal, managing director, Delhi-NCR, JLL India. “Whereas Gurgaon and Noida have taken the lead by way of improvement and infrastructure, town itself continues to stay a extremely most well-liked location. In whole, eight initiatives totalling 4 million sq ft had been added to the inventory, which stood at 129 million sq ft on the finish of the quarter.”



Source -economictimes.indiatimes.com

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Developers Focus on Low-Rise Development in Gurgaon, Faridabad

Gurgaon and Faridabad will see an investment of nearly Rs 7,000 crore in construction of independent floors as many developers plan to focus on low-rise buildings following the launch of a government scheme.

Developers including DLF, M3M, Birla Estates, BPTP, Trehan Group and ILC group have applied for the licence under the Haryana government’s Deen Dayal Jan Awas Yojna (DDJAY), which allows developers to construct up to four floors and sell them independently.

“Gurgaon has always focused on luxury housing, with nothing much to offer to people looking for below Rs 2 crore property. With about 20,000 independent floors on offer in next one year by these developers, Gurgaon will offer properties in mid-segment also, as these independent floors will be available in the range of Rs 50 lakh to Rs 1.75 crore,” said Anckur Srivasttava, chairman, GenReal Property Advisers.

Developers say high-rises take five-seven years to monetise and that amid the ongoing liquidity crisis, the real estate sector is looking for quick monetisation of assets.

“However, developers need to be careful as there could be an oversupply. It will not be a cakewalk and the developer has to target the right buyer. In Gurgaon, people were unable to take the credit link subsidy scheme, so developers offering a floor within Rs 45 lakh will attract buyers,” said Srivasttava.

DLF, the country’s largest real estate developer, had said in its quarterly that it planned low-rise developments including independent floors and plotted developments in some parts of Gurgaon.

Of the total upcoming planned development, 44% will be plotted and low-rise.

“We have planned independent floors at three locations in Gurgaon and Faridabad with an investment of Rs 500 crore,” said Amit Raj Jain, senior vice president, BPTP.

Real estate developer M3M plans to invest Rs 4,000 crore in developing 10,000 units in various locations in Rs 60 lakh-1.75 crore price range.

Trehan Group plans to invest Rs 150 crore in developing 1,000 units.

“For a developer, monetising high-rises takes a lot of time and effort. With the attractive scheme of Haryana government, where it offers rebates in developing independent floors, it makes sense to go for low-rise development,” said Abhishek Trehan, executive director, Trehan Group.

Experts said the government scheme and multiple builders offering competitive priced flats would help curb unauthorised construction too.

“In the next two years, independent floors will dominate the real estate market and developers will keep on offering better projects and amenities to lure the customers, keeping in mind the need and desire of the end users,” said Ashish Thapar, managing director, T and T Realty Services.

According to property consultants, independent floors will account for 75% of the total launches in Gurgaon, while it used to account for less than 10% earlier.

Some developers are even converting the group housing licence to DDJAY.

“We have applied for licence change after seeing the demand for floors. We have planned a township of plotted developments and are acquiring more land. We plan to invest Rs 100 crore in the construction of 600 units,” said Rehan Huck, vice president – retail, ILC Group.

Source :https;//economictimes.indiatimes,com/

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Gurugram: DLF-3 residents to keep eye on illegal structures

The move came after 150 properties on smaller EWS plots, measuring 60 to 120 sq yards, were recently sealed by the department of town and country planning (DTCP) for unauthorised construction and illegal commercial activities.

GURUGRAM: In a first in the city, the residents of DLF-3 have formed a committee to keep a check on unauthorised construction on plots earmarked for houses in the economically weaker section (EWS) category within the licensed colony. The committee will also prepare a database of all EWS plots, ownership details and violations noticed.

The move came after 150 properties on smaller EWS plots, measuring 60 to 120 sq yards, were recently sealed by the department of town and country planning (DTCP) for unauthorised construction and illegal commercial activities.

Residents have been complaining that a few blocks of DLF-3 have become “unliveable” because of the mushrooming of illegal paying guest accommodations and guesthouses, particularly in the EWS plots of 60 and 120 square yards. This, according to them, has caused chaos in the area by adversely affecting resources such as electricity, water supply and other civic amenities.

DTCP officials had spotted, during inspection visits, that plot owners have violated the norms by 100% ground coverage, constructing 6-7 storey buildings and combining two or more plots to use the premises for commercial establishments like offices, grocery shops and restaurants.

During a meeting with district town planner (enforcement) RS Batth on Thursday, the residents agreed to remove encroachments immediately and demolish extra floors constructed in violation of the norms. “The residents will submit an action-taken report on the corrective measures taken by them to the district town planner’s office within 15 days. During this period, the enforcement team will conduct surprise inspection visits and verify whether the residents are removing unauthorised construction or not,” he said.

Source realty.economictimes.indiatims, com/

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

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.

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