Affordable Rental houses in Dwarka Sector-6

Dwarka Sector 6, one of the old sectors with mid-end residential segment continues to generate buyer interest. The majority of property here are on rent. In the last couple of years, the real estate market has changed remarkably in Dwarka. Prices have crossed the peaks reached before the economic slowdown. The Delhi Metro is one of the main factors pushing values in Dwarka, including Sector 6. Rise in capital values has led to an increase in the rental values in the locality. According to the MagicBricks.com data, the types of housing found in Sector 6 include Cooperative Group Housing, DDA flats, builder floor, and multi-storey apartments. Capital values for multi-storey apartments here are Rs 8,000-12,000 per sq ft. The rental values start at Rs 12 per sq ft and goes up to Rs 18 per sq ft depending on the size of the flat. Though rental values have seen a considerable rise in the past few quarters, the values still remain lower here than other sectors in Dwarka. Sector 6 is connected to Sector 5 and 7 through internal roads, and to the Dwarka Flyover through Road No 201. This road leads to easy connectivity to the airport. The domestic and international airports, office and business centers, and commercial hubs are in close proximity to this sector.

According to Rakesh Khatri, Proprietor, Kirti Realtors, “Its proximity to the capital city and the international airport gives it an edge over other emerging sectors. Plus the presence of Dwarka Sector 6 market, an existing commercial hub, two known schools – DAV Public School and JM International School are big draws for families looking for rented property”. He also added that, “An average increase of Rs 2,000 has been witnessed on property that is available for rent in Sector 6 compared to last year”. The sector sees demand from families and professionals who cannot afford the high rental values of Gurgaon and other premium sectors of Dwarka.

Posted in News | Tagged , , , , , , , , , , , , , | Leave a comment

Government Authorities buy DDA Flats in CWG Village on priority

DDA Flats in Commonwealth Games Village are given more importance by the government authorities. Government departments, public sector undertakings, autonomous bodies, and tribunals are set to buy around 600 plush Commonwealth Games Village apartments worth over Rs 2,500 crore from the Delhi Development Authority (DDA), as the authority seeks to populate the riverside colony where hundreds of homes, owned by the rich and famous, remain unoccupied since the 2010 Games owing to legal issues. In a public auction last year, DDA had raised around Rs 400 crore by selling 87 apartments where the highest bid was Rs 24,192 per sq ft, which the authority will now use as the benchmark price while selling the apartments, a senior official from the ministry of urban development said, requesting anonymity.

Most of the 87 apartments that were auctioned were bought by public sector banks and insurance companies — State Bank of India, HPCL, ONGC, Punjab & Sind Bank, Delhi State Cooperation Bank, Agriculture Insurance Cooperation of India, and National Insurance Company. Government bodies given priority to buy flats worth Rs 2500 crore in Commonwealth Village. Only a few went to private individuals who were outbid by government bodies. According to property listings on sites such as MagicBricks.com, the price of apartments in the complex is Rs 25,000 per sq ft while rates in nearby Mayur Vihar vary between Rs 18,000 and Rs 20,000 per sq ft.

Emaar MGF had barely managed to complete the 11-acre project with 1,168 apartments before the Games in October 2010 due to its financial troubles. DDA then had to step in and buy 333 apartments for over Rs 750 crore at an average rate of Rs 11,000 per sq ft to bail out the developer as well as ensure that the project gets completed in time for the Games. By this time, the developer had sold around 280 apartments to individual buyers.

Some of the prominent buyers include YC Deveshwar of ITC, Justice Vahanvati, cricketer Navjot Singh Sidhu, LK Advani’s son, danseuse Shovana Narayan, lawyer Rajiv Luthra, former finance secretary Ashok Kumar Jha, India’s ambassador to the US Meera Shankar and her husband Ajay Shankar (ex-DIPP secretary), among others. The value of the apartments has more than doubled since they were sold.

Post the Games, the project faced more trouble when it was alleged that Emaar MGF had deviated from the sanctioned plan, and had constructed 17 flats illegally. Since DDA did not give the project a final competition certificate, these 280 buyers did not get possession of their flats. Finally, last year, DDA started giving possession to apartment buyers but no one has moved into the complex yet. DDA had a total of 711 apartments in the village after it had bought 333 apartments to bail out the developer in 2009. Of these, 87 have been sold and the authority will now sell the rest.

Posted in News | Tagged , , , , , , , , | Leave a comment

Commercial and Industrial Operations makes an area Real Estate Destination.

At a meeting organized by Magicbricks.com on Assessment of Consumer Demand, an interesting observation, which was made, is that employment generation and the industrial base of an area define its popularity as a real estate destination. According to Deepak Kapoor, Director, Gulshan Homz, “Look at any city, wherever commercial and industrial operations start, the need for housing is automatically generated”. Three industrial hubs namely; Bhiwadi, Dharuhera and Neemrana near Delhi, which rose from obscurity to becoming prominent real estate destinations was taken into consideration during the meet.

Bhiwadi is the fastest growing industrial town on the outskirts of Delhi, which is 55km from the Indira Gandhi International Airport. A prime industrial town of the NCR and Rajasthan, Bhiwadi has around 2,500 small, medium and large, industries including MNC industrial units. Bhiwadi is acquiring a name for itself as a real estate destination. Developers who have a presence here include Parsvnath, MVL, Ashiana, Jagriti Infrastructure, Kajaria, M Tech, etc.

Dharuhera is USP – proximity to Delhi-NCR and industries worth Rs 3,000 crore. The area also has a car plant of Honda Siel in Khushkhera, the SEZ of Reliance, the Japanese corridor and a railway corridor coming up. The area already has a cineplex, hospitals, schools, leading banks, and shopping malls. Leading developers tapping into Dharuhera’s huge potential are Raheja Developers, Parsvnath, Ansal API, M2K, Tivoli, SNG, and BCPLVardhman.

Multiple drivers propel Neemrana’s real estate growth. An investment of around Rs 21.5 billion is expected to flow in with the RIICO and Japan External Trade Organization joining hands for setting up of industrial units by several Japanese companies. These projects are expected to employ nearly 3,000 people. This has been a trigger for developers to build residential projects in the area. Rajasthan government’s Global City is being developed on 40,000 acres in Shahjahanpur-Neemrana-Behror area. This city will have a capacity to house one million people and will have a cyber city, a medicity, a knowledge city, an entertainment city, an SEZ city, a World Trade City, and a bio-diversity park.

Thus, an area becomes real estate destination with the growing industrial and commercial operations.

Posted in News | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Property Market is drived by Values and Rising Aspiration

Even the modest of families is encouraged to own a home by Globalization, a growing economy and awareness, and once invested probably look for a second one or upgrade to a superior abode. Another reason for the rise in demand for housing is the falling average age of homebuyers i.e. from 43 years in 1999 it dropped to 33 in 2010. This changing demographic profile is also transforming housing consumption patterns.

On Assessment of Consumer Demand held by Magicbricks.com, an interesting pattern in the aspiration levels of the consumer was observed at the Real Estate Dialogue (RED). As the spending power of the consumer grows, his aspiration increases. In a meeting Kumar Bharat, Director, BCC Infrastructure said, “The urge to buy and upgrade to a better lifestyle is upfront. With an increase in purchasing power, the consumer looks for a better environment; he upgrades from a colony to an apartment and then to a plotted development”. “We saw about 700 customers from Shamli, who wanted to upgrade to better facilities in Baghpat. We priced 3BHK units at Rs 45 lakh,” pointed out Bharat, who sold 1,400 units in the Bharat City project a few days from launch in Baghpat, about 18 km from the Delhi border. Better education, healthcare, and housing – all reflect a migration to a better lifestyle and quality of life. According to Neeraj Bansal of KPMG, “The world is evolving, so is consumer demand. A well-informed consumer today looks for value for money in his investments, and real estate forms a huge part of that investment”. According to Deepak Kapoor, Director, Gulshan Homz, “Employment generation and the industrial base of an area define its popularity as a real estate destination. The educated, service class opts for multi-storey apartments in gated communities for social growth”.

Until recently, a family’s status symbol was measured by the size of the house. However, high-income levels and aspirations are redefining the very concept of housing where the conventional per-square-foot rate does not apply. Instead, developers have to ensure the entire package, from the housing unit, amenities, significance of the neighbourhood, location and the social standing that comes with it.

Posted in News | Tagged , , , , , | Leave a comment

Steady price increase seen in micro-markets despite weak demand for Real Estate in the NCR market

for real estate in the NCR market, there has been a steady price appreciation in most of the micro-markets. Therefore, consultants feel that end users should not postpone their buying decision in the hope of a fall in the prices of real estate. The main reason behind the continued price rise is the supply constraint due to less number of launches of new projects. In fact, developers have kept a check on new launches in view of the weak demand. The liquidity crunch faced by developers is yet another reason for a slowdown in launches. Another reason for prices going up is the rising construction costs, which has prompted developers to increase the prices of new launches in markets like Noida and Gurgaon. According to Knight Frank report, Peripheral micro markets of Gurgaon, Noida, Greater Noida, Ghaziabad, and Faridabad have seen a steady increase in average prices during October-March of 2012-13 compared to the same period last year. According to the report, nearly 33,500 residential units were launched in October-March 2012-13, showing a dip of almost 31% compared to the first half of the financial year. Clearly, the dip can be attributed to the limited number of project launches, higher interest rates, and weakened consumer sentiments and confidence. Greater Noida is the only micro market that has shown an upward trend in sales, primarily due to a number of project launches in the affordable range. At the same time, the NCR residential market observed absorption of 33,200 units in the second half of 2012-13, showing a dip of about 12% compared to the same period last year. However, demand has remained stable compared to the first half of financial year 2013.

Since Noida is one of the most important markets in the NCR, with affordable and mid-segment housing options, the limited number of launches has influenced the overall demand. Faridabad is the only market to have shown stable demand compared to the second half of financial year 2013. Interestingly, developers appear to be keen to launch units in the affordable range; Greater Noida, including Noida Extension, which has emerged as a hub for the affordable range of houses. In fact, Greater Noida registered the highest number of launches in the second half of 2012-13, taking up about 50% of the total pie. Most of the project launches were in the price range of Rs 2,900-3,500 per sq ft.

Posted in News | Tagged , , , , , | Leave a comment

Pitampura a self-sufficient residential locality with retail and commercial centers.

Pitampura located in the North West of Delhi is neatly nestled between Outer and Inner Ring Roads, NH 1 and Rohtak Road. It is a self-sufficient residential locality with a good number of retail and commercial centers. The types of housing, which can be found here are gated residential colonies and plotted houses developed by Cooperative Housing Societies and the Delhi Development Authority (DDA). Pitampura is home to several government officials from the central administrative services. The social infrastructure is well defined in this area.

The social infrastructure is well defined in Pitampura. Numerous reputed schools such as Apeejay School, Delhi Bal Bharati Public School, Guru Nanak Public School, Maxfort School are located in close vicinity. Hospitals such as Max Hospital, Hemraj Hospital, Kuber Hospital are at a driving distance. Civic amenities inclusive of water, sewage, drainage, electricity are also well developed. Major roads connect Pitampura. Delhi Metro stations at Netaji Subhash Place, Kohat Enclave and Pitampura connects it with the other parts of the city. Autos, cabs, and buses regularly ply in this locality.

The capital value of apartments in Pitampura range from Rs 65 lakh to over Rs 3 crore. The rental value begins at Rs 6,000 and goes up to Rs 37,000. These apartments offer one, two, and three BHKs in residential complex. According to real estate broker Sumit Gupta of Dinesh Associates, “The real estate market of Pitampura is on its downswing. Capital as well as rental value is showing a downward trend.” Certain renowned commercial centers such as Fun Republic, PVR, Gold Souk, Pacific Mall, and M2K Cinemas have their presence in Pitampura. According to real estate broker, Sunil Goel of Vrinda Associate states, “Though commercially Pitampura has performed well, it has failed to make an impact on the residential market. Both capital and rental value of Pitampura is not doing well.” He further added that being an end user market the locality does not react to the new projects (builder floor apartments) which are undergoing construction activities.

Posted in News | Tagged , , , , , , , , , , , , , , , , , , , , | Leave a comment

Vasundhara Enclave one of the Profitable locality in Delhi NCR

Vasundhara Enclave located near Mayur Vihar, East Delhi is primarily a residential area with well connected and equipped with all the necessary facilities. According to MagicBricks.com, per cent Capital Value Change of properties for the period Jan-Mar 2013 vs Oct-Dec 2012 of Vasundhara Enclave remained unchanged at about 5 per cent. Majorly dominated by multistorey apartments, you will also find the option of residential house in this area. The capital value of multistorey apartments ranges from Rs 45 lakh to Rs 2 crore while the capital value of residential house is about Rs 2 crore. According to the real estate broker Anurag Kapoor of Kapoor Associates, “The performance of the real estate market of Vasundhara Enclave is not up to the mark. Not many people are buying property in this area.” The rental value of apartments are Rs 14,000 and above.

Vasundhara Enclave is located near Mayur Vihar, East Delhi that is in close proximity to schools, market, and hospitals. Some of the reputed schools located here are Somerville School, Cosmos Public School, Angels Public School, Evergreen Public School, Maharaja Agrasen College, etc. Vardhman Plaza, Sunrise Plaza, and Delhi Development Authority Markets are some of the markets close to the site. Hospitals in this locality include many private clinics, Dharamshila Cancer Hospital, Government pharmacy. Apart from the above-mentioned social amenities, Vasundhara Enclave also has a Chilla Sports Complex and about four parks.

The Delhi Metro connects Vasundhara Enclave to Noida and other parts of the capital city. Well-built roads enable the plying of busses, cabs, and autos. The Delhi Noida Direct (DND) Expressway is located at a distance of about 13 km. According to Sandeep Sharma of Asian Estate, a local real estate agency, “Vasundhara Enclave is endowed with both social and civic facilities required by any residential locality to thrive. The overall real estate market of Delhi right now is a bit slow which has led to a slight fall in the demand of properties.”

Posted in News | Tagged , , , , , , , , , , , , , , , , | Leave a comment

Noida, Ghaziabad residents bombarded with Inflated bill.

While the power crisis does not show a sign of decrease in Noida and Ghaziabad, the inefficient customer service of the state-run discom, Paschimanchal Vidyut Vitaran Nigam Limited (PVVNL), have left the power consumers to struggle with inflated bills. The residents of these cities had no idea as to the nature or periods of cuts in the absence of any communication from the discom. Consumers claim that not only do they have to combat with long outages, but they also have to deal with shoddy customer service. Now far from offering any respite to consumers they are bombarded with inflated bills. Thus, the residents of these cities are facing long outages with shoddy customer service along with inflated bills. Several group-housing societies in Indirapuram, Vaishali, and Kaushambi received bills for March exceeding their normal bill amounts three times. Discoms have cautioned them that failure to make payments of these bills in time will result in disconnections. Residents find it impossible to enquire directly about power cuts, lodge complaints, or inflated bills as the customer service helpline of UPPCL in Noida has been defunct for over six months whereas in Ghaziabad, there is no customer helpline at all. In Indirapuram, an apartment owners’ association, Arihant Harmony, received a bill of Rs 2, 04,394 for the month of February. While the society claims it normally receives monthly bills amounting to around Rs 2 lakh every month, the discom has issued it a bill of Rs 6, 03,648 for March. Another Ghaziabad apartment owners’ association, Exotica Elegance, received a bill of Rs 5, 12,293 for the month of February. For the month of March, however, PVVNL has issued it a provisional bill of around Rs 8, 88,384. Residents of Mahagun Mansion-I society, who received a bill of around Rs 5.20 lakh for February, have received a bill of Rs 8.97 lakh for March. According to Alok Kumar, Federation of Apartment Owners’ Associations of Ghaziabad,”Scores of societies in Ghaziabad have been sending in their complaints about inflated bills for the month of March. The discom is trying to balance its revenues by extracting money from residents”.

Posted in News | Tagged , , , , , , , , , | Leave a comment

The Commercial Real Estate Market Prefer 500-2000 square feet for Office Space

The commercial real estate market across Delhi NCR prefers office spaces in less than 10,000 square feet category. According to Rajat Gupta, Executive Director, CBRE, the demand for smaller floor plates has increased because the occupiers are increasingly focusing upon cost controls and looking forward to utilizing their existing portfolios more effectively. This transaction in Delhi-NCR is spread across multiple sectors such as telecommunications, IT/ITeS, banking, KPO, manufacturing, insurance and consulting. A huge spectrum of office space in the 500-2000 square feet category is available in Delhi which has the rental values between Rs 100-350 per square feet. Among the various commercial locations in Delhi NCR, CBD continues to be the preferred destination for small office spaces. Corporate occupiers continue to prefer the CBD of Connaught Place (CP) and its surrounding areas owing to its central location and connectivity. Peripheral regions of Noida and Gurgaon also witness a huge demand for these units.

 

 

Posted in News | Tagged , , , , , , , , , , | Leave a comment

Divyansh Pratham

Divyansh Pratham provides luxurious apartments in Indirapuram which is built with utmost care and is a perfect example of excellence. A peace surrounding, lanscaped gardens and serene environment in the neighbourhood are some of the key factors to look about in this project. It is a gated community surrounded by open plot on the three sides and a 150 feet wide road leads to the complex. The road connects to Noida & Delhi. The project also boasts of world class amenities one can think of. This project offers 2, 3 & 4 BHK units, with areas ranging from 1235 Sq.ft. to 2245 Sq.ft.

Divyansh Pratham is located in Indirapuram, Delhi NCR. The project is situated right behind DPS. It lies adjacent to the road which leads to Vasundhara. An upcoming multi speciality hospital, degree college and Eros mall are some of the landmarks in the vicinity of the project. Mohan Nagar is a nerby locality. It lies very close to institutes like St. Francis School, St. Thomas School, Jaipuria Degree College, etc. Easy accessible to hospitals like Fortis, Shanti Gopal & Pushpanjali Crosslay Hospitals within 0.5 km. to 3.0 km. of radius.

Divyansh Pratham is one of the projects of Divyansh Infracon Pvt. Ltd. The group started a decade ago and have constructed on more than fourteen lakh square feet area with luxurious apartments. The group has become one of the real estate giants in recent times.

Amenities

  • Entertainment & leisure club
  • 24×7 power back-up
  • Valet parking
  • Swimming pool
  • Club with indoor games
  • Launderette
  • Jogging pathway
  • Children’s play pen
  • Gymnasium
  • 24×7 healthcare
  • 3-tier security
  • Library
  • Yoga & meditation
  • High speed lifts
  • 24×7 internet
  • Wi-Fi connectivity

Divyansh Pratham Site Map

Posted in Apartments | Tagged , , , , , , , , , , , , | Leave a comment