ICCPL PROPERTY NEWS

MORPHEUS GROUP TO BRING AKSHAY KUMAR TO NOIDA

Noida: Establishing realty major ‘Morpheus Group’ is gearing up for the possession of its residential project ‘Morpheus Greens’, located at sector 78 Noida. The company will be conducting an exclusive press conference on 3rd February, 2015 to announce the offer of possession of its project. The event will witness the presence of Bollywood heartthrob ‘Akshay Kumar’ who will present customers with their home keys. This is to be noted that Akshay Kumar is also the brand ambassador of Morpheus Group. In the first phase of the project, Tower C will be offered for possession and already 332 units have been booked in the project.

The project itself is a highlight of the region with stunning location advantage and various amenities in offer. The project is 0 kms away from the proposed metro station, 3 kms from city centre metro station, 1.5 kms from Noida – Greater Noida Expressway, 15 minutes’ drive to Delhi and 2.5 kms away from FNG Expressway. Morpheus Greens offers you high standards of living environment with ultra-modern yet courteous luxury homes, nestled in the lap of nature, and neighbouring a staggering reserved greens at an iconic address set to become the new destination for super luxury lifestyle. Morpheus Greens is a residential project of Morpheus Group, with world-class lavish amenities and the best luxury home specifications. Magnificent balconies overlooking spectacular greenery, lush landscaping and open water features. Equipped with 2 tier security with centralized CCTV surveillance, Wi-Fi enabled complex, 100% power back up for elevators & common areas, power backup of 1.5KVA for each apartment, uninterrupted water supply, firefighting system as per latest norms, pool, club, jogging track, convenient shopping within complex, energy efficient housing project, provision for rain water harvesting and provision for PNG supply thereby creating a truly remarkable piece of art and mind to cater to all the needs of the residents.

Feeling happy and satisfied, Mr. Prithvi Raj Kasana, MD, Morpheus Group said “After years of thorough dedication and hard work, I am pleased to announce that we are going to offer the first phase of possession of Morpheus Greens. Our esteemed brand ambassador Akshay Kumar will be accompanying us on the event and will present the keys to the homebuyers. My heartiest thanks to the entire Morpheus family whose years of flawless efforts have finally started to payoff”.

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ICCPL PROPERTY NEWS

SIGNATURE GLOBAL TAKES REAL ESTATE ONLINE

Gurgaon: In the current scenario of the real estate sector of India where the developers are facing the heat of high inventory levels and struggling to sell their products even when trying to give so many lucrative offers and deals to customers in terms of easy payment plans, discounts, etc. just to add some figures in their sales chart; establishing real estate brand of Gurgaon ‘Signature Global’ has offered a dream home buying solution to its customers. The company has made the home purchasing go online so as to make the process hassle free for its customers. It is to be noted that this will promote transparency and credibility amongst the sector.

Signature Global; after the Grand Success of Solera, has brought an excellent opportunity this New Year, for the people who wish to fulfil their dream of owning a flat in the most posh location of Gurgaon, i.e. Sector – 81. Also because of the excellent product being offered by the company, the Haryana Government affordable group housing policy features are so exclusive and trustworthy that people have even challenged the conventional behaviour of real estate purchase and started making applications online like simply transacting over other e-commerce sites. Mr. Pradeep Aggarwal, Chairman, Signature Global says “After a lot of brain storming over opening the facility of online applications for people, we thought to give it a try and we feel so privileged on the response generated from the market. We feel if the policy is transparent, product is good and people behind the organisation are trustworthy, people do not mind making online transactions even for Real Estate Industry”.

Speaking about the performance of this plan till date, he adds “In just a period of 10 days, we have generated more than 150 applications via online medium only, which shows the faith of people in us and we promise to take it to next level with our efforts & commitment”.

It is to be noted that it is the first time in the history of Real Estate sector that people are so active in booking for their homes through online medium. It also suggests the major shift in the buying behaviour and gives new hopes to builders of positive mind-sets of consumer in the New Year. Signature Global plans to make a record booking via online medium since they are just the half way through of the last date of application submission which is 27th Jan’ 15.

ICCPL PROPERTY NEWS

WINTER CARNIVAL TURNS A BIG FEAST FOR MORPHEUS GROUP

Greater Noida: Last Sunday, in an exclusive event organised by the emerging real estate player of NCR ‘Morpheus Group’, the company had conducted a winter carnival for its existing customers and potential investors at its latest luxurious offering ‘Morpheus Pratiksha’, located at Greater Noida West. The event had witnessed a massive footfall at the site with families and investors turning out in huge numbers. Star attraction at the event was rising Bollywood actress ‘Neha Sharma’ who was observed blending with the crowd and the media. The event turned out to be a successful feast for the project with over 40 bookings being made in a single day.

In the present scenario of Indian real estate where the inventory levels are crossing 30 – 40 months in the key developing regions; this number is a great achievement for an emerging brand of NCR considering the stiff competition and low demand for property. The main objective of this event was to showcase the actual construction status of the project as promised by the company. This resulted in trust generation amongst the existing customers which provoked potential customers to be converted, present at the event. The project itself is a highlight in the region with respect to its location, facilities and amenities. Luxury needs of residents have been kept in mind as various unique features have been provided such as; Wi-Fi enabled complex, 3 tier security system round the clock, 24X7 automatic power back up & water supply, amphitheatre, automated car wash, Laundromats, exclusive library, lush green lawns, jogging tracks and much more. With such remarkable facilities in the project, the customers were seen highly excited to buy a home there; and hence the bookings.

Feeling proud and enthusiastic, Mr. Prithvi Raj Kasana, MD, Morpheus Group said “First of all I would like to thank all the people who turned out for our event in such huge numbers. It was really nice to see children enjoying their time out with families and many people even went on to book a home here. We received an enthralling response from the public and thus, such good booking numbers in one day. We will now keep such events as a regular practice in the upcoming months so as to give a chance to the customers to visit the site often and we all can celebrate the achievement of every brick that is being put to use in the project”.

ICCPL PROPERTY NEWS

MORPHEUS GROUP ORGANIZES A WINTER CARNIVAL FOR ITS CUSTOMERS

Greater Noida: Emerging real estate player of NCR, Morpheus Group today organized an exclusive winter carnival at its luxurious residential offering ‘Morpheus Pratiksha’, located at Greater Noida West. The carnival held at the project site was organized for the future residents and potential customers of the project. On a sunny Sunday morning, the event witnessed a fascinating response by over 150 people who took part in the carnival; which was highlighted mostly by children’s participation which was quite admirable. The icing on the cake was provided by the famous Bollywood rising star ‘Neha Sharma’, who greeted the people, children and the media at the event.

Since the carnival was organized for the customers and their families; there were several entertainment facilities for the children such as; painting program, kids rides, shooting arcade, dance floor, entertainers dressed up cartoon characters and food stalls. The customers were seen enjoying the moment as they also got the chance to see the real time construction status of their homes.

Feeling excited and proud, Mr. Prithvi Raj Kasana, MD, Morpheus Group said “The main aim of this winter carnival was to thank the existing customers of the project and to allow them to witness the actual construction update that we promised. We are very proud to say that our project is being running as per the schedule and customers were very happy about it. This event also allowed us to put in faith to the potential customers for this project and we will now continue to do such thanksgiving events every month which will help us to maintain transparency and reliability amongst our target audiences. I take this opportunity to thank all the people who were a part of this event and will see you all again very soon”.

ICCPL PROPERTY NEWS

RBI’s NEW YEAR GIFT TO BOOST REAL ESTATE SECTOR

The Reserve Bank Of India (RBI) provided a much needed respite to the public and the sector by announcing a 25 basis point reduction in the repo rate this Thursday. This drop in the rate is RBI’s first positive step of this year which has brought the interest rate down to 7.75 percent from 8 percent previously. This move has been greatly affected by the slowing inflation rate along with government’s efforts on containing the fiscal deficit. RBI has also showed signs of cutting down this rate further if the inflation continues to ease and government’s progress on controlling the fiscal deficit is achieved. The real estate sector and public has largely welcomed this move, predicting a better demand for property this year.

The real estate sector which has been undergoing a slowdown over the last few years might see a major transformation, and the rising inventory levels across the nation will be curtailed. It has been observed that whenever repo rate has been decreased, a strong wave of positive sentiments is spread across the public which helps in the creation of demand. Apart from few prime locations, not many cities have witnessed a strong capital appreciation due to a hyper fall in demand. This move is likely to revive the sector back as now a cycle has started where reduction of rates will be on the cards due to slowing inflation and other efforts by the government to reduce the liabilities. Mr. Mahipal Singh Raghav, CMD, MMR Group states that “A no rate change in December last year, consistently decreasing inflation and a much slower WPI and CPI recently provoked the RBI to reduce the rate. Although, a 25 basis point reduction won’t be much, but a series has begun here which will help in the generation of positive sentiments in the market. The effects will become visible in the market by third or fourth quarter this year, as customers will now be gearing up for investment”.

Mr. Kushagr Ansal, Director, Ansal Housing says “The economic recovery has begun and this move is a valid proof for the same. The effects will be quickly prominent for the commercial real estate category and leasing; as the housing demand will pick up by the end of this year”. Adding onto Mr. Ansal’s thoughts, Mr. Rajesh Goyal, MD, RG Group believes that “If the present inflation rate and variations in inflationary expectations continue to occur, and fiscal developments are encouraging, a positive change in the monetary policy stance is likely to continue further as well. The market sentiments are on the move and this reduction in interest rate will surely result in creation of a pool of demand which will help this sector to perform better. The rate is likely fall down further if this economic condition persists”.

Mr. Prithvi Raj Kasana, MD, Morpheus Group says “The new government has spent a good amount of time at the centre now and is very well aware of the economic condition of the country. Last year December also, the interest rates were kept unchanged which proved to be a very welcoming move and this year already a down by 25 basis points is an impressive move. This will help in forming positive sentiments across the market which in turn will create higher demand for property in near future.

Mr. Rupesh Gupta, Director, JM Housing says “Aided by dipping global oil prices, India’s wholesale price index for December went up just 0.11 percent year-on-year, after staying flat in November. Though this early move was a bit unpredicted, aggressive drops in rates were well anticipated over the course of the year to assist India’s economy out of a furrow, with growth rates stressed to get better from their fragile level in a quarter century. This move will now encourage investors and homebuyers to invest in the market, thereby reviving the sector from a severe drought”.

Mr. Deepak Kapoor, Director Gulshan Homz says “Developers and potential customers had this on their wish list and RBI has bought an early surprise for the public. The commercial property market will receive an immediate boost from this decision whereas; homebuyers will start increasing demand by late this year or first quarter next year. The inflation rate and fiscal deficit is getting under control which is a strong sign that RBI might even lower these rates in the upcoming 2-3 quarters”.

All in all, the market sentiments will drastically improve now and everyone is more eagerly waiting for the union budget to come out. With this sudden motivating move, the market is all set to perform better and a favourable budget for the sector might be on the cards.

ICCPL PROPERTY NEWS

SECTOR WELCOMES THE IDEA OF JEWAR AIRPORT

This New Year is all set to create new hopes and aspirations for the developers and public as the region of Greater Noida might get its own airport and the second in Delhi/NCR. Back in 2001, when the then CM of UP, Rajnath Singh had proposed the idea of developing a second airport in Jewar. This idea was well accepted and approved by his successor, Mayawati government but was later denied by the current UP government. The talks have begun again and this time the centre and state governments are looking deeply into the matter. This government has already acquired 2000 acres of land for the proposed airport and more can be acquired, as this is not an issue in the area. The civil aviation ministry is now just waiting for the nod and written consent form the UP government.

Although, the planned second airport at Jewar is against the existing policy for construction within the stipulated radius. The distance between the proposed location and IGI is less than 150 km and according to the current norms; no greenfield airport will normally be allowed within an aerial distance of 150 kms of an existing airport. Where it is allowed as a second airport in the same city or close vicinity, the parameters for distribution of traffic between the two airports will be clearly spelt out. The government can, however, approve a greenfield airport at places where an existing airport is unable to meet the projected requirements of traffic. It can be allowed both as a replacement for an existing airport or for simultaneous operation. IGI currently has a capacity to handle 62 million passengers annually and given that in 2013-14, traffic at Delhi airport increased to 36.9 million from 16.2 million in 2005-06, there is ample room for growth as well as additional capacity expansion at IGI itself. A fourth terminal and a runway are planned and this might take the capacity to 100 million.

This development of the Jewar airport in Greater Noida is sure to benefit the real estate sector which has been taking a massive toil due to the economic slowdown over the years. There hasn’t been much activity happening in the sector which has dampened the sales, especially in the last 2-3 years. With the inventory getting piled up, developer’s primary focus has drifted towards clearing the excess rather than launching new projects. This sight is pretty visible across all the major real estate regions in India. It is been said that an ideal market maintains an inventory of 6-8 months; whereas NCR had an inventory of over 40 months at the end of June 2014, while Mumbai stood at an inventory of over 50 months. Hyderabad had an inventory of over 45 months, Pune 20 months approx. and Chennai over 25 months. Bangalore had the minimum backlog among the major cities being around 20 months. Keeping this situation in mind, the creation of infrastructure in the form of a new airport will greatly help in correcting the realty prices in these key regions. Mr. Rajesh Goyal, MD, RG Group says “It’s been over a decade that this project has been kept pending and now it’s a matter of state approvals only. The entire belt across Greater Noida and Yamuna Expressway is currently witnessing a dampened demand as there are more investors than end users. The area is yet to become end user centric and this can happen only when sound infrastructure is in place. The presence of an airport will provide the right thrust for the demand as this will be a major gain for the infrastructure of the region. The sector will observe better market acceptance in the regions which will result in greater demand and better price appreciation in near future”.

While the Jewar airport is still in the planning and approval phase; the developers across NCR are eagerly hopeful for its acceptance as this will not only provide a large scale boost to the infrastructure of the region; but in turn will help create a boom in the real estate sector. Mr. Prithvi Raj Kasana, MD, Morpheus Group believes that “If the airport gets the green signal, there will be an unbelievable change in the shape of NCR real estate sector. Primary boost will be received by the markets of Greater Noida, Yamuna Expressway, Noida and even Agra. At present, these markets are receiving moderate views from the public and due to the distance from the capital it is hard to pull the customers. If the airport here gets going, Greater Noida will have the right fuel to ignite growth in demand for these regions”.

Mr. Ashok Gupta, CMD, Ajnara India Ltd. says “Development of infrastructure is directly related to the growth of real estate in the given region. Also, there are levels of infrastructural developments which affect the sector differently. Availability of an airport, metro rail, railway station and other such civic amenities provide better boosts to the region than provision of public conveyance and other such smaller amenities as these developments cater to a macro level of public. Hence, if the airport gets the nod from the state government there will be a significant increase in demand for these regions along with capital appreciation”.

Mr. Kushagr Ansal, Director, Ansal Housing states “A development of this scale will bring about a massive price appreciation in the markets of Greater Noida and Yamuna Expressway specially. This is extremely important for the overall development of these regions as Greater Noida is moving very slowly and Yamuna Expressway is yet to make its way in to people’s minds. On the flipside, creating a second airport in Delhi/NCR before IGI gets exhausted may render both airports impractical. The user charges at both airports will surely rise since the operating cost and capital expenditure at both airports would be spread over the same flyer base”.

Mr. Deepak Kapoor, Director, Gulshan Homz says “Speaking off the location, strategically the regions of Noida and Greater Noida have a great industrial/commercial potential and consequently, infrastructure would be required. This will also lead to employment opportunities along with economic up gradation. For the sector, a lot of demand for housing and office spaces will erupt along with strong capital appreciation in and around Greater Noida”. Adding to the view, Mr. Rupesh Gupta, Director, JM Housing says “Greater Noida is being greatly recognised as one of the future smart cities of India. The master plan for the region is perfectly laid down with ample of work and scope carried in the region. Airport will be the perfect icing on cake which will give a much needed push to the demand in the regions. This will also increase the cost of land and property prices will appreciate at rate of knots”.

ICCPL PROPERTY NEWS

AJNARA OFFERS POSSESSION OF AJNARA DAFFODIL

Noida: As we step into the New Year, NCR realty major Ajnara India Ltd. has wonderful news to share with its customers. The company announced offer of possession of its 570 residential units in its project, Ajnara Daffodil located at sector 137, Noida Expressway. Several customers were also handed over the keys on the day and will soon move into their new homes. For the sector in general, this news is big as now days we hear project launches more often than handing overs.

Situated at sector 137, Noida Expressway, the project offers luxurious and highly spacious 2 and 3 BHK apartments ranging from 973 sq. ft. to 2095 sq. ft. along with studio apartments. The project is full of lush green spaces, large open area and high-end modern amenities such as state of art club, ultra-modern gym, golf cart for visitors, grand amphitheatre, unisex beauty salon, indoor sports facilities, party hall for social gathering and much more to relish for the residents and users. The project has a total of 1020 residential units out of which 570 units have been offered possession and 280 studio apartments. The construction is moving ahead at a rapid pace for other phases as well.

Feeling jubilant, Mr. Ashok Gupta, CMD, Ajnara India Ltd. says “The best part of having a home or an office at Noida Expressway is the location advantage it offers. It is like having a property right between Noida and Delhi, so both the places become very close. Also, this region is already known for its commercial and infrastructural development, so it will again offer everything that a commuter would require in a close proximity from schools to hospitals to colleges, shopping arcades, public conveyance and civic amenities. For investors also, this is more like a religious destination with hyper capital appreciation and massive demand for commercial property. We are feeling extremely proud to have delivered our first phase of the project to its rightful owners and hope to service them in the best way always”.