No Comments

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

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

No Comments

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.

Source

No Comments

Sohna Road is NCR’s Top Micro Real Estate Market

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

No Comments

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

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

ENQUIRE NOW