Noti­fic­a­tion Dated 12^th August 08 say­ing Lal Dora area is Res­id­en­tial. Click Here to View

News:

Realty experts are hot prop­erty
Source: Realty Plus
March 02, 2010

Real estate con­sult­ants and experts in India have become hot prop­erty for over­seas buy­ers. Fund houses, private equity firms, ven­ture cap­it­al­ists, bankers, insti­tu­tional investors, com­pan­ies, high net­worth indi­vidu­als, non-resident Indi­ans, indeed just about every poten­tial prop­erty buyer, are dial­ing local real estate experts in order to get a feel of the local market.

The best part is, to just share one’s know­ledge of the real estate scen­ario in a city like Ban­galore, the consultants/experts get paid any­where between $300 and $500 an hour. Over and above that, if they are required to fill in a mar­ket sur­vey, he gets paid around $200 per sur­vey form.

Farook Mah­mood, CMD of Sil­ver­line Group and the pres­id­ent of the Ban­galore Realtors’ Asso­ci­ation, has been flooded with calls from over­seas buy­ers, who pay $500 an hour for an update on what’s hap­pen­ing in the city.

Mah­mood, who has been deal­ing in Bangalore’s real estate mar­ket for the past 30 years, says that “this trend of over­seas cli­ents pay­ing per hour or for a ser­vice is a recent phe­nomenon.” Accord­ing to invest­ment bankers, this demand for know­ledge from local real estate con­sult­ants is also hap­pen­ing in other mar­kets such as Mum­bai, Delhi and Chennai.

Real estate con­sult­ants say they receive around two/ three calls a month, with some con­sult­ants doing more. “I get calls one month in advance, where a date and time is fixed for tele­phonic inter­view to hap­pen,” said Mahmood.

Ques­tions fre­quently asked are about the real estate cli­mate — whether or not it’s a suit­able time to invest; about spe­cific micro mar­kets within the city; about developers and their stand­ing in the mar­ket; and the trends in the com­mer­cial and res­id­en­tial space.

One such global firm act­ively call­ing real estate con­sult­ants is Ger­son Lehr­man Group. The com­pany is a net­work of con­sult­ants, phys­i­cians, sci­ent­ists, engin­eers, attor­neys, mar­ket research­ers, and other pro­fes­sion­als from around the world.

“Most of the local prop­erty con­sult­ants and experts have a very sound know­ledge of the local mar­ket, they have great access to developers and know what’s going on,” said an invest­ment banker.

 

Delhi is best bet for realty developers, investors: Report
Source: Realty Plus
Novem­ber 13, 2009

Delhi con­tin­ues to be the pre­ferred choice of developers and investors for real estate with fast-paced improve­ments in phys­ical infra­struc­ture, emer­ging fly­overs, under­passes, ped­es­trian walk­ways, high-capacity buses, hotels and town­ships being a key influ­en­cing factor, accord­ing to a latest report.

A FICCI– Ernst & Young score­card of top 30 cit­ies in 2008, said improved air qual­ity, and reduced slum pop­u­la­tion in Delhi also helped improv­ing the qual­ity of life. The growth of Gur­gaon and Noida as pre­ferred des­tin­a­tion for office space for some lead­ing global com­pan­ies con­trib­uted to the busi­ness envir­on­ment index.

Mum­bai ranked a close second and scored bet­ter on the busi­ness envir­on­ment index though its pace of infra­struc­ture devel­op­ment was slower.

The report indic­ates that a func­tional metro rail­way, mod­ern­isa­tion of the inter­na­tional air­port, road widen­ing pro­jects and ded­ic­ated efforts to make the ring roads sig­nal free had gone down well with the respondents.

Com­pared with the 2007 report, cit­ies ranked between 11 and 20 have seen a shuffle of sorts. Goa is a not­able entry into the top 20. Vishakhapat­nam, Kochi, Coim­batore, Amrit­sar, Bhubaneswar, Guwa­hati and Madurai moved up in the order, while Vadodara, Bho­pal, Rajkot and Luc­know dropped lower.

The report, com­pris­ing the rank­ings and factors influ­en­cing the growth of the 30 cit­ies, key trends and tax and reg­u­lat­ory cli­mate, and the developer-investor sur­vey was released at a FICCI real estate sum­mit here on Thursday.

Ganesh Raj, part­ner and national leader, Real Estate Prac­tice, Ernst & Young, said “This year’s report among oth­ers cov­ers key trends and tax and reg­u­lat­ory cli­mate across six key geo­graph­ies, city rank­ings and developer-investor sur­vey. The real estate sec­tor seems to be one of the worst hit sec­tors across all geo­graph­ies in the eco­nomic slowdown.”

Some key find­ings of the sur­vey indic­ated that the mar­ket seemed to have recovered faster than what many expec­ted. The sen­ti­ment on the sec­tor was optim­istic with 77 per cent of the respond­ents believ­ing that the pain was short-lived this time. How­ever, many respond­ents warned that the quick recov­ery, frantic buy­ing and new launches could once again cause a real estate bubble and advised cau­tious planning.

Delhi and Mum­bai saw high-end res­id­en­tial con­tinu­ing to be rel­at­ively strong com­pared with the rest of the coun­try, though sales had con­sid­er­ably slowed down. Eighty per cent of the investors were in favour of fund­ing the res­id­en­tial seg­ment. Mar­kets across most regions are primar­ily driven by end-users. In Mum­bai, the high-end res­id­en­tial seg­ment in par­tic­u­lar is slowly exper­i­en­cing short-term investors creep­ing in, the report said.

 

DDA deno­ti­fies colon­ies in South-west-east Delhi

At a meet­ing chaired by the Lieu­ten­ant Gov­ernor of Delhi, the Delhi devel­op­ment Author­ity (DDA) decided to deno­tify sev­eral areas of South, West & East Delhi. As per reports received through PTI, this move would pave the way for civic agen­cies like MCD to extend their ser­vices to these areas.

Some of the areas lis­ted for deno­ti­fic­a­tion include colon­ies like Masood­pur, Mahip­alpur, Mehrauli, Vas­ant Kunj Enclave and other Lal­dora colon­ies under devel­op­ment area 176 in the South-West zone.  The deno­ti­fic­a­tion of this area also would indic­ate that MCD would take imme­di­ate con­trol of build­ing activ­it­ies as per build­ing byelaws and pro­vi­sions of Muni­cipal Cor­por­a­tion Act, as the same would apply hence­forth, a DDA spokes­per­son said. Sim­il­arly, deno­ti­fic­a­tion of devel­op­ment area 18, 74, 100 and 181 in the east zone which includes areas such as Yamuna Mar­ginal Bund, Gazipur, Has­an­pur, Mandawali Faza­lpur, Shakarpur, Ghar­oda Neem Ka Bangar, Shah­dara, Chiraga Mondli, Dal­lupura, Chilla Sar­oda Bangar was also approved.

 

“Never mind. Suf­fer for some more time” – says Supreme court

By Ruchika Bhardwaj

The title of this art­icle is not sup­posed to scare, but to point out the objectiv­ity with which the highest courts are tack­ling the many rel­ev­ant, as well as frivol­ous cases filed in the Supreme court, related to the Delhi Mas­ter Plan MPD 2021.

Dur­ing last week, a three Judge bench of Justice B Suder­shan Reddy, P Sath­a­s­ivam & G S Singhvi declined to have an early hear­ing to many a peti­tions and applic­a­tions moved before it on the prop­er­ties which were sealed OR related to unau­thor­ized con­struc­tions in Delhi. The Apex court reasoned that the prin­cipal issue which they would con­sider first is the chal­lenge to the valid­ity of the Delhi mas­ter plan 2021. It also gave heed to the more than 400 odd applic­a­tions which are in some way con­nec­ted with the prin­cipal issue of the valid­ity of MPD 2021. Sev­eral NGOs and ves­ted interest parties had chal­lenged the valid­ity of the MPD 2021 on grounds that many of the decisions taken under the draft mas­ter plan 2021 would lead to chaos in the cap­ital as it is already reel­ing under short­ages of power, water, civic infra­struc­ture, motor­able roads etc.

While some coun­sel were push­ing & plead­ing that the Apex court take up indi­vidual applic­a­tions relat­ing to seal­ing, at an earlier date than Septem­ber 2009, the bench issued a cryptic rejoin­der – “Never mind, suf­fer for some more time. It is just a ques­tion of a few days more”. Very rightly so. It  has decided to address the core issue of the valid­ity of the MPD 2021, rather than the indi­vidual applications.

One would recall that the court had said last year that the relief sought by many applic­ants claim­ing relief under the latest amend­ments to the mas­ter plan, as well as the vari­ous reg­u­lar­iz­a­tion of unau­thor­ized colon­ies would be sub­ject to the out­come of the mat­ter already under the courts’ scru­tiny. Moreover, a high powered com­mit­tee assist­ing the courts in assess­ing the feas­ib­il­ity of de-congesting the city had expressed reser­va­tions on the rap­idly grow­ing pop­u­la­tion without a cor­res­pond­ing devel­op­ment of infrastructure.

Senior coun­sel Ranjit Kumar poin­ted out dur­ing the hear­ing last week that since most of the argu­ments & plead­ings have been con­cluded, the court can fix the mat­ter for final hearing.

We are likely to hear more about this around the 15^th of Septem­ber’ 09. Like they say – “Inshal­lah, let brev­ity be injec­ted so that we decis­ively move for­ward, rather than sway sideways”.

 

Are cur­rent Gur­gaon prices sustainable?

TOI repor­ted this on 17^th July 09

Hary­ana has entered into a deal with real estate developers to provide afford­able hous­ing and is invit­ing expres­sions of interest for build­ing 8,000 flats in NCR areas in the state. In a move expec­ted to give a big push to the hous­ing sec­tor in Gur­gaon and Faridabad, the Hary­ana Hous­ing Board is in the pro­cess of invit­ing expres­sions of interest for build­ing 8,000 flats in these cit­ies and some other places in the national cap­ital region areas. This is in addi­tion to the 38,000 hous­ing units, major­ity of them in NCR, planned in the next two years.

Under the latest pro­ject, the state will enter into an agree­ment with real estate developers to provide afford­able hous­ing to middle and lower middle class under the pub­lic private part­ner­ship mode.

‘‘Since we do not have land in Faridabad and Gur­gaon, we will be join­ing hands with private col­on­izers whose pro­jects have been stuck due to the (eco­nomic) slow­down. We’ll prefer those who have the licence, and then those who have enough land,’’ said S P Gupta, chief admin­is­trator of the hous­ing board. The announce­ment fol­lows chief min­is­ter Bhupinder Singh Hooda’s assur­ance to developers that steps will be taken to counter the slump in the real estate mar­ket. It will also ful­fil his com­mit­ment of provid­ing cheap hous­ing to loc­als, espe­cially those in NCR cit­ies of Gur­gaon and Faridabad. Among the other areas selec­ted for the pro­ject are Bawal (in Rewari dis­trict close to Gur­gaon), Badhi (Sonepat) and Kar­nal. Offi­cials claim that around 828 units would come up at Badhi, a town­ship to the north of Delhi.

Expert Ana­lysis:

* There would be Sup­ply of approx. 50,000 acres of R– Zone developable/ urb­an­iz­able land in Delhi. Hence more land avail­able for development.

* Land prices in Delhi even today is 60% lower than Gur­gaon, it means lower FSI cost.

* Devel­op­ment norms in Delhi are likely to be more simplified.

* Qual­ity of con­struc­tion is likely to be bet­ter in Delhi.

* Hary­ana Gov­ern­ment likely to con­struct houses in Price range of Rs 20– 25 Lacs.

Above points indic­ates that, If Delhi prices are x, Gur­gaon prices has to be x-20% (20% lower than Delhi) .

 

Six more metro routes pro­posed by Government

Dated: 20^th June 09

Gov­ern­ment has pro­posed six more metro routes in Delhi based on the demand. Three routes out of six are sim­ilar to those sug­ges­ted by Delhi Metro Rail Cor­por­a­tion (DMRC) on the basis of the detailed pro­ject reports (DPRs) pre­pared for Phase III and Phase IV in the capital.

Fol­low­ing Metro lines are pro­posed on bases on com­muters’ demand & pop­u­la­tion density:

• Rithala to Bawana via Barwala
• Narela to Najafgarh via Bawana
• Mun­dka to Delhi bor­der via Gherva
• Dwarka Sec­tor 6 to Shah­bad Mohammedpur
• Jehangir­puri — Dhaula Kuan-Moolchand-Nehru Place-Kalindi Kunj
• Jehangir­puri to Sagarpur

Three of the pro­posed routes, how­ever, are sim­ilar to the ones pro­posed in DMRC’s Metro mas­ter­plan. For instance, the sur­vey has iden­ti­fied a Metro link from Rithala to Bawana via Bar­wala and DMRC’s phase III plan also has a Rithala-Barwana route. Also, the sur­vey has pro­posed a Mundka-Ghevra-Delhi bor­der route, while DMRC has plans to extend the Mun­dka line to Bahadur­garh in Phase III. The Jehangirpuri-Kalindi Kunj route pro­posed in the sur­vey also finds sim­il­ar­ity in DMRC’s pro­posed link from Mukun­d­pur to Dhaula Kuan.

The other routes pro­posed by DMRC for Phase III, which are still await­ing the Delhi gov­ern­ment nod, include links between Mukun­d­pur to ISBT Sarai Kale Khan, Cent­ral Secretariat-Mandi House-Daryaganj-Welcome-Nawada, Rithala-Barwala, Air­port link to Gur­gaon Sec­tor 48 to Sush­ant Lok, exten­sions in Badarpur, Faridabad and Ghaziabad pro­posed as part of Phase III. As planned, this will add another 114.67 km of Delhi Metro to the NCR.

As per the prac­tice, the routes sug­ges­ted by DMRC are sub­mit­ted to the gov­ern­ment for approval, and con­struc­tion on the new lines begins only after that. There have been instances in the past where the gov­ern­ment has made alter­a­tions to some of the sug­ges­ted routes, and the decision of the gov­ern­ment in such mat­ters is con­sidered final.

This indic­ates the good future of Zone –L & N under Delhi Mas­ter plan (MPD)- 2021

 

Higher Edu­ca­tion Insti­tutes per­mit­ted on Lal Dora Land

New Delhi: In a declar­a­tion made by Delhi’s Chief Min­is­ter Sheila Dikshit stated that all the aca­demic insti­tu­tions oper­at­ing in“lal dora” land will be allowed to oper­ate in the com­ing aca­demic  ses­sion 2008-09.

She made this pub­lic on Monday say­ing that, “Per­spect­ive plan for tech­nical edu­ca­tion”. The gov­ern­ment was com­mit­ted to facil­it­ate con­tinu­ation of the exist­ing higher edu­ca­tional insti­tu­tions, which were passing out approved courses from “lal dora” (delhi) and other  non-confronting areas. Moreover, the Gov­ern­ment has given approval to increase in intake of stu­dents as well as intro­du­cing new courses.

Other higher insti­tu­tions bene­fit­ing from this decision of her’s are Guru Gobind Singh Indraprastha Uni­ver­sity, 13 insti­tu­tions cur­rently func­tion­ing in lal dora land includ­ing those in ren­ted premises and seven dip­loma level insti­tu­tions run­ning under the Dir­ect­or­ate of Train­ing and Tech­nical Education