ICCPL PROPERTY NEWS

RISING OF ROCKSTARS IN REAL ESTATE

In today’s scenario, every entrepreneur designs and formulates strategies to expand their business in the market and focuses on retaining and attracting new clienteles. For this it’s very much important to seek attention of the customers, passing on the right message and then influencing them to buy or invest. All these factors throw light on how brand building process is beneficial for any industry. There are diverse techniques of marketing and constructing brand names, out of which one of the most trending has always been ‘Celebrity endorsement’. It is in fact true that hiring a right Brand Ambassador helps in gripping the attention of customers and influencing the demand of products or services.

Well-known personalities like film stars, sportspersons, entertainers or other famous celebrities have always been the choice of industrialists or business tycoons from years, as their brand ambassadors. Number of well-known brands like Dabur, Gillete, Pepsi etc. have endorsed celebrities like Amitabh Bachchan, Rahul Dravid and Shahrukh Khan to name a few, for building brand awareness among customers. Hiring a right personality as brand ambassador is very much vital as it is one of the crucial factors influencing the buying decision of customers. Numbers of aspects are considered while choosing a brand ambassador for any company. No company would hire an individual who is not known by the people or is not performing at present. It should be someone who is influential and appreciated by people and is currently a hit amongst the masses. People around the globe have a tendency of following their rock stars almost on every medium and everywhere; and if their rock stars are the face of any brand, they feel associated with it. Companies today invest huge amounts to endorse celebrities as this strategy brings wonderful results for their revenue generation. This is thus, an effective media to reach out to potential clients.

Nature of business is also kept in mind when picking a brand ambassador. Association of the correct personality with the nature of business is a significant point to be cautious about; or else the strategy can completely backfire. Consider an Amitabh Bachchan promoting boxing equipment and a Ranbir Kapoor promoting importance of artificial teeth for old age. On the other hand, Brand ambassador for Lux is Katrina Kaif, as she is appealing and famous. These factors increase the memorability of the brand as well as message among the customers. Other examples are Hritik Roshan for Provogue and Aishwarya Rai Bachchan for Kalyan Jewellers to name a few. Companies also formulate strategies to market their goods and services in such a way and at times when the visibility of their brand ambassador is on its peak across the market, may be due to a movie releasing soon or some event happening where the celebrity will be in lime light. This in turn brings the attention of customers towards the products associated with their favorite stars. Branding at the right time with the right personality helps businesses in gaining that momentum required for growth and development.

If used effectively, this form of endorsement can bring fruitful results. Real Estate segment is a no exception too. Increasing competition in real estate sector with several empires emerging up in the market, it’s very important to leave a brand impression on the minds of customers. There is an advertising adage “Marketing is a contest for people’s attention.” This indicates how acquisition of “Brand ambassadors” can be helpful in grabbing the eye balls of customers and it rightly applies to realty sector too. Rising of rock stars in real estate helps in seeking attention of customers and it also prioritize a particular brand over the other. Individuals have the tendency to pay more attention towards something which is recommended by their favorite stars. Many real estate firms have associated celebrities with their marketing campaign to promote their brand awareness among customers.

Ajnara India Ltd., a major real estate firm with projects in Noida, Greater Noida and Ghaziabad earlier had a very long tie up with renowned and cuddly Bollywood actress Kangna Ranaut to endorse its projects. Kangna was seen in television commercial promoting Ajnara India Ltd. few years back. Mr. Ashok Gupta, CMD, Ajnara India Ltd. says, “It was wonderful to have Kangna Ranaut on board with us for such a long period of time. Not only it helped us in creating a unique brand name and awareness, it also positively helped us in connecting with our buyers. Our brand is now known and recognized by everyone in North India. The entire campaign was quiet effective and aided our brand to get noticed. Kangna hooked the customer’s attention and made it stand out”.

NCR realty major, JM Housing had also signed up with the Bollywood leading lady, Kareena Kapoor Khan for their Brand endorsement in year 2013. It was a major step taken under branding and marketing campaign by the company. Endorsing brand ambassadors get the brand to be recognized amid buyers and also fetch attention of the desired customers. Mr. Rupesh Gupta, Director, JM Housing says, “Today branding is the need of the hour. If done in a right manner, it can bring the desired results. As part of branding, we had hired Kareena Kapoor Khan to endorse our projects and company back in 2013 and this has worked really well for us. Association with such a big superstar earned us a unique place in realty segment with customers able to recognize our brand more than others”.

Establishing realty major, Morpheus Group also have Bollywood heartthrob Akshay Kumar on board as their endorser. Recently, on the successful completion of the project “Morpheus Greens” located in Noida sector 78, their Brand ambassador, Akshay Kumar graced the event with his presence and he presented the customers with their home keys. Mr Prithvi Raj Kasana, MD, Morpheus Group in context of hiring brand ambassadors said, “We were overjoyed with the presence of Bollywood megastar, Akshay Kumar on the occasion of completion of our project Morpheus Greens. Customers were thrilled and glad to have received their home keys by the hands of the superstar himself. Being linked with such a great personality for our brand building has always rightly worked for us. Our customers were extremely happy and so were we and they feel that our ideology and working style pretty much mimics the principles of Akshay as well, thus increasing our credibility”.

Radhey Krishna Group is a well-known name in real estate market for quality work and outstanding customer services. With various projects going on in Delhi/NCR and Lucknow, the group is rapidly growing. Speaking about the strategy and success of celebrity endorsement, Mr. Naveen Goel, MD, Radhey Krishna Group says, “Any renowned face endorsing your brand will always be helpful in grasping the attention of customers. Such famous personalities are appreciated by people and they are followed everywhere. In realty sector too, brand ambassadors influence the buying decisions of customers. It definitely adds to the brand equity of the company and allows better sales in the long run, along with faith and trustworthiness amongst the customers for a particular brand”.

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ICCPL PROPERTY NEWS

A LOOK AT HARYANA BUDGET 2015-16

With the soon ending 2014-15 financial year, BJP-led-Haryana government presented its new general budget for the upcoming financial year 2015-16. The total budget size is of Rs 68,985.87 crore, including Rs. 52,312.10 crore revenue and Rs. 16,673.77 crore capital. The best part of the new budget is that there are no major tax proposals nor are there any revisions in the existing tax rates. Haryana Finance Minister Captain Abhimanyu presented the Khattar government’s first budget with the motto “Sabka Sath, Sabka Vikas”.

Completion of metro network in Faridabad by April 2015 and Bahadurgarh link to be completed by April 2016 are the chief development plans announced in the new budget. Also, VAT has been removed on bio-fertilizers to promote its use for better and safe environment. Rate of VAT on LED lights, pipe fittings and pre-fabricated steel structures has been reduced from 12.15% to 5%. Budget also includes setting up of an 800 MW supercritical thermal power unit costing around Rs. 4000 crore at Panipat.  100 Mbps internet connectivity shall be provided to around 4000 villages of Haryana, under the National optical fiber network system.

Budget 2015-16 has strong focus on capital expenditure and infrastructure development. To boost up infrastructure segment, FM allocated amount of Rs. 17,331.08 crore comprising plan outlay of Rs. 5,793.65 crore to the economic structure sector. This is 7.56 % higher than the revised estimates of year 2014-15. With the announcement of new budget, total receipts are also expected to go up to Rs 68,985 crore from Rs 56,108 crore. Fresh Budget 2015-16 points towards uniform development of the state by not making any region based announcements.

Budget Comparison:

Budget 2014-15 Budget 2015-16
Total Amount Rs 73,301.08 crore Total amount Rs 68,985.87 crore
Revenue deficit – Rs 4500 crore Expected Revenue Deficit – Rs 9557.52 crore
Revenue Expenditures – Rs 52,702.71 crore Revenue Expenditures – Rs 61,869.62 crore
Overall outlay Rs 22,109.57 crore Overall outlay including centrally sponsored schemes- Rs 25,743.6 crore

Main Expenditures Plans:

  • Science & technology, environment Rs 14.30 24.95
  • Education, sports, art & culture Rs 10,51611,907
  • Health, medical education & family welfare Rs 2,6463,028
  • Industries and minerals Rs 174219
  • Roads and buildings Rs 3,0883,291
  • Pensions Rs 4,8005,900
  • Rural Development Rs 2,2412,734
  • Urban Development Rs 2,5383,409

Total expenditure Rs 72,09679,175

Mr. Kushagr Ansal, Director, Ansal Housing says, “Emphasizing on the metro networks and stressing on the earliest completion of these projects, new budget opens up the doors for better and efficient connectivity. Infrastructure development has been allotted a descent amount which will allow a healthy development and aid in boosting infrastructure sector in the regions as well. As vital part of development strategy, noteworthy amount has been allocated in sectors like education, power, agriculture, sports etc”.

Mr. Pradeep Aggarwal, Chairman, Signature Global says, “Though much more was expected from the fresh budget, still it brings many plans for balanced development of the state. No new taxes have been imposed and priority has been given to capital expenditure and infrastructure development. New budget allocated 7.56% more in infrastructure sector than the revised estimates of current budget. Plans for metro projects are well and good, bringing more comfort to the residents of the states”.

ICCPL PROPERTY NEWS

REAL ESTATE SECTOR GEARS UP FOR NAVRATRAS

India is the only country where every month some or the other festival is celebrated and festive kicks start usually from the month of March or with the festival of colours, Holi. Every sector and industry that follows the B2C model witnesses the most footfalls during that time. Festivals such as Holi, Navaratras, Diwali etc. mark the way for celebrations. For every business, this is the perfect time to come out with something new in the market so as to generate the highest sales. It has been also noticed that customers believe this time period as the most auspicious time to invest and invest big, such as a car, gold or even a property.

The real estate developers in India have been very proactive with respect to providing a lucrative deal during the festive seasons, especially Holi, Diwali and Navratras. All these festivals are one of the most anticipated and highly regarded festivals in India. People here have a tendency of waiting for these days every year to make the most important purchasing decisions of their lives. Real estate has always been considered as the most important buying decision; as it involves a lot of money and future of every buyer. Every buyer in India try to wait till Navratras, Holi, Diwali and some other festivals to make a property purchase as it is considered extremely auspicious time for buying any asset. Each year these festivals bring joy to the faces of customers planning to buy a home in India. This time being the most sacred and auspicious time for people in India, it also attracts many customers to buy something new and something big; like property. Indian real estate is based on sentiments therefore, buyers consider this time of the season as the most apt for buying properties. During time like these, developers also try to lure the interested buyers by offering various schemes and offers on their one or more projects. In this way, the demand for real estate is met very well during these occasions.

Like the last year, this year too, developers are gearing up to come out with something for their customers. NCR realty major Ajnara India Ltd. is all set for the upcoming Navratras festival. The company recently announced a unique scheme for all its current projects. The customers will be asked to pay 10 percent as the booking amount followed by 80 percent amount within 45 days from bank funding and finally, the remaining 10 percent on offer of the possession. In light to this special offer, Mr. Ashok Gupta, CMD, Ajnara India Ltd. says, “Navratras are considered to be an auspicious time for investing. And the best investment in today’s time is property as the returns are higher and any scheme is a big draw for any buyer. We at Ajnara are providing new scheme on payment plans under a 10:80:10 scheme along with No Pre EMI clause on our projects where one can pay 10% at the time of booking and 80% within 45 days from bank funding and remaining on offer of possession. The catch here is that till we do not offer possession of the unit, we will be liable to pay the instalments to bank on behalf of the customers”.

One of the leading developers of NCR, MMR Group has also launched a scheme considering the auspicious season of Navratras. Scheme has been finalized for their ongoing project 52nd Avenue, located at sector 52, Noida for product Orabella which offers multi use studio apartments. The scheme asks to pay 90% and get 12% assured return per annum till offer of possession or pay 50% and get 11% assured return per annum till offer of possession. There is a buy back scheme as well; pay 40% get 28% on the paid value in 2 years. Mr. Mahipal Singh Raghav, CMD, MMR Group says “In India, buyers generally prefer to buy properties during some auspicious events and Navratri being one of the most holy times of Hindu calendar, we usually witness a greater footfall of customers as compared to other days. Owning a home for self is everyone’s dream. Keeping this in mind we have launched this scheme which gives customers an option of earning assured returns or buy back with returns”.

Ansal Housing, the benchmark of Indian real estate has also planned to offer a new payment scheme for its customers for its ongoing projects; Ansal Highland Park located at Sector 103, Gurgaon and Ansals HUB 83 located at Sector 83, Gurgaon respectively. The company has come out with a 30:70 scheme, where 30 percent of the total amount will be paid at the time booking and the remaining 70 percent to be paid at the time of possession. Mr. Kushagr Ansal, Director, Ansal Housing said “The demand for real estate has been on a rise recently with positive sentiments floating in the market due to decreasing inflation. Keeping this in mind, we have launched a new scheme to allow flexibility in payment for the customers. We have provided the scheme on two of our best projects of Gurgaon. Looking at the way demand is shaping up in the region, it is very important to offer something new to the customers especially when they are anticipating the most”.

ICCPL PROPERTY NEWS

CONNECTIVITY: KEY TO REAL ESTATE GROWTH

Connectivity in a region plays a major role in the successful growth of a real estate property market. Decades back, Gurgaon and Noida were alien to most public as Delhi was regarded as the sole property hub. As a result, Delhi got the best of what real estate has in offer for today. As the demand for housing and offices kept on creeping along with property prices, the requirement of land parcels had greatly risen; but Delhi could not satisfy this demand. Hence, nearby regions of Delhi was the last resort for investors and end users. Developers and authorities then wasted no time to come out with land parcels close to Delhi and develop them better and thus, today’s best real estate locations such as Noida, Gurgaon, Greater Noida, Greater Faridabad and others in NCR emerged. The success of these locations has been primarily due to their connectivity with Delhi and other neighbouring regions.

Connectivity is an important aspect in the growth of the real estate. Localities with great road connectivity always get picked first in case of buying or developing the property. Efficient road network maximizes the economic and social benefits for the country. Roads always have the major role in development activities and social functioning of the community across the country. Roads reduce the distances between two points and they are significant part of the society as almost everything is dependent on the road connectivity. Mr. Ashok Gupta, CMD, Ajnara India Ltd. says “Road connectivity is directly proportional to the quality of life and it affects everyone’s life. Quality of roads reduces the travel time between places hence it increases the reachability between them. Connectivity improves the social meetings with friends and families with low fuel expenses, low travel time and low distance. Travelling to workplaces also gets improved as the amount of time taken for reaching workplaces is reduced. As time taken to travel to workplaces is reduced; hence people can enjoy their life apart from the office timings and can spend more time with friends and families”. Everyone is concerning the security measures available in the locality and the overall safety in the neighbourhood. Road connectivity makes it easier to emergency services like police, fire brigade and ambulances etc. which eventually lowers the risks concerning about the security measures and safety. Road connectivity gives easy access to many basic needs along with secondary needs like schools, colleges, malls, shopping centres etc.

Transportation expenses directly affect the monthly income of the residents; well connected residents spend proportionately low on the transportation whereas the resident with low road connectivity spends around 15 percent of their income on transportation. The fuel prices are ever increasing hence road connectivity plays a major part in reduction of the expenses of travelling. Apart from time and expenditure savings, one of the core reasons why people prefer accepted regions other than Delhi is because easy road connectivity allowed better development of infrastructure along with proper civic amenities. Once the infrastructure got in place, developers entered the region and constructed several housing and commercial projects. Thus, land availability and strategic road connectivity was the key driver for real estate sector growth back in time. Mr. Naveen Goel, MD, Radhey Krishna Group says “Real estate sector is widely depending on the availability of land with easily available facilities and amenities around those localities. Road connectivity defines the development strategies of the real estate in any locality or region. Quality of life, health solutions, security measures are the major concern which residential and commercial buyer prefers while buying the property. Demand of the properties is majorly seen where the road connectivity and transport facilities are greater”. Builders and developers are more concerned about buyers and they try to give home buyers an easy access to workplaces and other facilities from their properties and hence the localities with great road connectivity are mostly preferred.

Some of the key connecting roadways in Delhi/NCR:

Dwarka Expressway

The 18 Kms long Dwarka-Gurgaon expressway has been becoming the lifeline for the residents and commuters for Delhi and Gurgaon, and the credit of perception cum creation of it, goes to the public and private partnerships, as they are the ones who have turned the rough and sandy piece of land into a modern dwelling of luxury and a modernized urban centre. Indeed, such a creation will prove to be extremely useful for those looking for a perfect home and office amid cultured neighbourhood and in the lap of mother-nature. As a result, several world class projects have been mushrooming on this expressway and each one among them is clad with numerous sophisticated amenities which are must for a comfortable modern day living. Moreover, the area is parallel in connection by the erstwhile metro and 60 meters wide road yields not only public transport but easy rides too. Much like Noida, Gurgaon is also regarded as the most high-tech and a satellite city, which is full of spirit of massive development in every field and aspect. For instance, many world giants have made their premier offices in Gurgaon and the place is also a home to dozens of prestigious academic institutes and university colleges. Therefore, as a result of Gurgaon-Dwarka expressway has indeed proved to be an apt destination for building modern and well-crafted apartments and luxurious villas on either side of it along with extraordinary commercial units. In other words, the heavenly groove is well populated with several world class structures which attract the aspiring inhabitants as well as the potential investors a great deal.  As such, we have notable developer brands out there with new entrants continuously knocking the doors. Mr. Kushagr Ansal, Director, Ansal Housing says “The development work carried on and around the Dwarka Expressway is moving at the right pace and track. Like other important infrastructural projects, the Dwarka Expressway had also faced its share of some interruptions, but all thanks to the combined efforts of several stakeholders, the work has got back on path lately. With the kind of popularity it has already received by the commuters and residents; few years down the line, this region will be one of the hottest deals in the entire NCR”.

Noida Expressway

For a project to be successful, location, connectivity and infrastructure plays the maximum role. Noida expressway is located between Greater Noida and Delhi; hence providing it with the benefit of granting access to customers of higher net worth and income groups, investors and global giants looking for office spaces. As far as connectivity is concerned, the region is very well connected via the expressway that stretched till Greater Noida, thereby allowing the market of Greater Noida west and east to flourish in process. Infrastructure has been worked upon greatly in the region; the benefit of which will be even available to the commuters of Greater Noida and Noida. All along the expressway, various residential and commercial projects have been developed and a lot are under construction. Due to the connectivity and locational advantage, the price appreciation and demand for property has been sky rocketing over the years making this region as one of the key regions to invest into. Mr. Deepak Kapoor, Director, Gulshan Homz says “Noida expressway has allowed Greater Noida and Yamuna expressway to be easily accessible and thus, the property market of Noida expressway has spread till these regions pushing the developers in the area to come out with their projects. The classic connectivity of the region makes it possible to cater to customers of Delhi, Greater Noida and even Agra. Due to this, there has been a major footfall by the investors and even second property buyers in order to earn heavy returns from rapid capital appreciation in the area”.

Yamuna Expressway

The classy Yamuna expressway which had been officially operational few years back connects Delhi with Agra, the city of Taj. Already it has witnessed a daily travel by thousands and further more during weekends. The expressway which is spread across 165 kms took around 47 months and Rs 13,300 crores to build, runs from Greater Noida to Agra, crossing Aligarh & Mathura and has reduced the travel time between Delhi and Agra to two and a half hours from five to six hours earlier, excluding the traffic jams. Within a span of one hour, a person can reach to IGI airport and inside 30 mins to the capital. Connectivity between Delhi and Agra is not the only USP that this region provides. The best things being the Buddha International circuit (BIC), Gautam Buddha University, Proposed night safari, metro station and Taj international Airport. Projects that will be developed here will provide the best of the best landmarks and places to be. This location advantage has come out as a big time boom for realty players. Top most builders have already tied there shoelaces and are ready to give investors and end users their dream house. Big developers such as Jaypee, Supertech, Ajnara and Cosmic group all have their projects underway. All the builders have targeted the Buddha International Circuit and all have their projects within a radius of 5 – 10 kms. Mr. Rupesh Gupta, Director, JM Housing says “The scope for development is enormous in this region. Already the presence of Buddha International Circuit has made a huge difference and the kind of expansion plans the government has in mind for Yamuna Expressway, this destination will be the best bet for any investor or end user in upcoming few years. It is not only attracting the domestic crowd, but many foreign investors have started to approach the builders in this area”.

FNG Expressway

For long anticipated Faridabad-Noida-Ghaziabad Expressway; it is finally coming on path and will heavily aid in providing rapid connectivity to daily commuters of the region once its complete. Apart from this, it is also developing as an outstanding stretch for real estate development. FNG Expressway is around 56 kms long with 19.9 kms in Noida-Greater Noida region, 8 kms in Ghaziabad, while the remaining 28.1 kms is in the Faridabad region, especially the emerging sectors of Neharpar. As per the current plan, FNG towards Noida side will become operational in next several months while it will around 3 years for the whole section to become fully operational. Various developers have already launched many projects in the developing regions like Sectors 117, 118, 121, 122, 137, 142, and 150 along the FNG corridor. Population in the NCR is soaring with more migrants coming in and new mega cities like Greater Noida, Faridabad and Gurgaon are emerging as major residential and commercial hubs. As the regions develop, there will be heavy movement of merchandises also in these regions. The upcoming FNG Expressway is also in limelight because of G-FNG (Gurgaon-Faridabad-Noida-Ghaziabad Expressway), where it has been planned to connect all the five regions -Ghaziabad, Noida-Greater Noida, Gurgaon, and Faridabad providing quick connectivity to travellers across the roadway. Mr. Rajesh Goyal, MD, RG Group says “The much awaited FNG (Faridabad-Noida-Gurgaon) Flyover is expected to be functional not before an year’s time. This project once completed will be a true blessing in disguise not only for a daily commuter as it will smoothen the nightmarish traffic on the 56 kms stretch, but is also one Infrastructural development which will prove to be a true boon for Real Estate Developers. The FNG flyover along with the stretching metro connectivity will improve connectivity between the entire Delhi NCR as well as will make so many isolated areas easily accessible”.

ICCPL PROPERTY NEWS

SEVERAL KEY PROJECTS IN TWIN CITIES TO BOOST SECTOR

    Noida and Greater Noida are considered to be one of the key real estate pockets of Delhi/NCR and Northern India as well. The two being close to the capital has always received a better attention from the authorities and government. With this reason, the two cities have emerged as prime investment zones at present, with Noida being regarded as more of an end user market and Greater Noida being investor’s hot spot due to its growing infrastructure.

For a region to be successful in real estate, it is extremely important that it receives a good infrastructure along with proper civic amenities so that residents and commuters are able to define a decent living. Noida today has developed manifolds and provides a wonderful infrastructure in most of its sub-regions and is rapidly developing in a few newer pockets such as Noida expressway. Greater Noida on the other hand, has come out as a plan to be developed into a smart city and thus, infrastructure development will be a major concern for this region. Keeping the growth and returns aspect in mind, the Uttar Pradesh government which has already been doing a great deal for the regions has planned to develop these two cities even better with an aim to roll out projects worth Rs. 7,000 crores. The chief minister of UP is likely to inaugurate more projects in Noida and Greater Noida this week. These projects are likely to include Metro line connectivity from Noida to Greater Noida, underpasses, flyovers, elevated roads and affordable housing schemes. Mr. Deepak Kapoor, Director, Gulshan Homz says “Noida and Greater Noida are key real estate destinations of NCR and thus, the infrastructure work for these regions is of utmost importance for real estate growth in future. This is great news for Noida and Greater Noida markets as already these regions are facing difficulties to catch demand and with such infrastructure plan in place, sentiments will improve greatly and thus demand will follow”.

Mr. Rajesh Goyal, MD, RG Group says “It has been historically proven that transport infrastructure has had a positive impact on the real estate sector; Delhi has undergone phenomenal transformation owing to the sound infrastructure development that the city saw in past one decade. We are exuberant that now the same focus has been given to Noida and Greater Noida too- with a new housing scheme, better metro connectivity, new underpass and flyovers in the pipeline, Noida and Greater Noida promise huge scope for growth”. The UP CM will inaugurate projects costing Rs. 1,200 crores for Noida region, which will include 2,000 EWS and LIG flats across sectors 116, 117 and 118. The projected cost will be somewhere around Rs. 200 crores. Already, the CM had initiated projects worth Rs. 3,300 crores back in April 2013 for the twin cities and this time; the total estimate is calculated to be over Rs. 7,000 crores. Apart from metro line extension and housing scheme; which are expected to be the highlights of this project, 3 underpasses in Noida including one near NTPC and Uflex are planned along with flyovers on Noida – Greater Noida expressway near sector 142. An elevated road from Rajnigandha to Sector 56 in Noida is also on the list of to dos. Moving to Greater Noida, apart from the metro project which itself is estimated to cost Rs. 5,000 crores, a heliport and a solar power plant is also on the objective lists. The government is well aware about the expenditure that may occur and is thus planning for fund raising options as well. Mr. Ashok Gupta, CMD, Ajnara India Ltd. says “The plan is very well laid down with good allocation of funds for infrastructure. As Noida was becoming congested, underpasses and flyovers were becoming need of the hour. Connecting Greater Noida with metro was again very essential to increase the customer footfall for the region which will boost the real estate market as well. With such mammoth investment plans thought off by the government, the twin cities are ready for a makeover which was extremely important for real estate revival of NCR as well”.

Mr. Rupesh Gupta, Director, JM Housing says “Infrastructure and real estate of a region are directly proportional to each other. When infrastructure in a region is worked upon, the real estate sector gets a strong push and; when infrastructure of a region is not well managed, the demand for property freezes or even goes down. Therefore, it is important to continuously develop the infrastructure of a region to enhance the real estate prospects for future. With metro connectivity, new flyovers, underpasses and other advancements; real estate pockets of Noida and Greater Noida will get a much needed push”.

Mr. Mahipal Singh Raghav, CMD, MMR Group says “After DDA and HUDA, it is good to hear that UP government is also planning for affordable housing schemes and 2,000 units planned for EWS and LIG, this shows the government is well in sync with Housing for all plan as well. The infrastructure plan looks great with several flyovers and underpasses in pipeline as well. These two reasons will come out to be as a major breakthrough for demand in these regions in the coming few years”.

ICCPL PROPERTY NEWS

A LOOK AT THE GDA BUDGET 2015 – 16

The Ghaziabad Development Authority (GDA) yesterday announced its general budget for the next financial year 2015 – 16. The key highlight from the budget has been the allocation of over Rs. 2,500 crores announced for development projects where extension of city’s metro network is will be its core objective. It is to be noted that the upcoming fiscal budgetary allocation of over Rs. 2,500 crores for the development work is nearly 35 percent or Rs. 703 crores more than what has been assigned for the current financial year. The public body that is stood at Rs. 1,318 crores in its pot presently, also targets to raise Rs. 2,162.52 crores in 2015 – 16.

The GDA has also planned that 80 percent of the additional budgetary distribution of Rs. 703 crores for the developmental purposes in the city would be spent for the Dilshad Garden – Ghaziabad New bus stand metro project. Apart from developmental planning, the GDA has plans to spend Rs. 700 crores for land acquisition and reserved Rs. 88 crores as establishment costs and Rs. 41 crores as administrative costs. For this financial year, the GDA also plans to raise Rs. 2,162.52 crores through developmental charges, sale of properties and from various other sources. Adding this value to their opening balance, GDA will now carry a balance of Rs. 3,480.71 crores.

Looking at the current financial year 2014 – 15 a total of Rs. 1,822. 90 crores had been spent on developmental projects. Apart from the budget; GDA had given a go at two proposals; land allotment for petrol pumps meant for the relatives of martyred soldiers and construction of a link road leading to multi-level parking in Vaishali.

Budget Comparison:

Budget (2014 – 2015) Budget (2015 – 2016)
GDA Total Amount – Rs. 3,141.09 crores GDA Total Amount – Rs. 3,480.71 crores
Amount spent on developmental projects till January, 2015 – Rs. 1,822.90 crores Amount planned for developmental projects – Rs. 2,525.95 crores
Opening balance – Rs. 1,302.79 crores Opening balance – Rs. 1,318 crores
Amount raised – Rs. 1,838.30 crores Amount planned to be raised – Rs. 2,162.52
Expenditure plan for this financial year (2015 -16)

Ø  Rs. 700 crores for land acquisition

Ø  Rs. 100 crores for refunds

Ø  Rs. 88 crores for establishment cost

Ø  Rs. 41 crores for administrative costs

Real Estate Sector Reactions:

Mr. Rajesh Goyal, MD, RG Group says “This budget has plans to improve the existing infrastructure especially by extending the metro connectivity and constructing a new link road to Vaishali. The overall allocation of funds is fair with plans to acquire more land and over 100 crores planned for establishment and administrative costs”.

Mr. Rupesh Gupta, Director, JM Housing says “The expenditure plan announced in this budget is better than previous year’s and will help in better development of infrastructure. A new link road and metro station will help in providing a little push to the realt market of Ghaziabad which has been keeping silent for a while now”.

Mr. Ashok Gupta, CMD, Ajnara India Ltd. says “This budget by GDA is a pro infrastructure budget with a major stress put on the development and extension of metro network. The government has also figured out Rs. 700 crores for land acquisition and plans to spend over Rs. 2,500 for development projects. This will boost the infrastructure of Ghaziabad which is very important for the realty market of micro pockets such as Dilshad garden, Vaishali, Vasundhara and others”.

Mr. Deepak Kapoor, Director, Gulshan Homz says “A very decent budget announced by GDA with primary objective to enhance the infrastructure of the region. Ghaziabad is one of the prime locations of NCR with its rapid connectivity with Delhi. Thus, it is very important to keep the infrastructure development on the go so as to keep up the end users interest here. A new roadway and metro station is the most apt solution for such destinations where market is heavily end user driven”.

Mr. Kushagr Ansal, Director, Ansal Housing says “This is by far a better budget plan by GDA than last year with plan to allocate over Rs. 700 crores more than this financial year plan for developmental projects. Extension of metro connectivity was on the cards and it has been duly fulfilled by the authority along with new road connectivity in offer. New land will also be required in abundance to increase the infrastructure and thus land acquisition is also been planned. All in all, this is a very thoughtful and a fair budget”.

ICCPL PROPERTY NEWS

MORPHEUS GROUP SUCCESSFULLY COMPLETES MORPHEUS GREENS

Noida: Establishing realty major ‘Morpheus Group’ today announced the successful completion of its residential project ‘Morpheus Greens’ located at sector 78 Noida. For the same, the company conducted an exclusive press conference where the event witnessed the presence of Bollywood heartthrob ‘Akshay Kumar’ who presented the customers with their home keys. This is to be noted that Akshay Kumar is also the brand ambassador of Morpheus Group. With the festival of colours around the corner, there could not have been better news for the investors in the project. With delays becoming very a prominent sight in real estate sector, Morpheus Group has stood strong to complete the project on time.

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 a high standards of living environment with ultra-modern yet courteous luxury homes, nestled in the lap of nature, and neighbouring 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. Already, approx. over 330 units have been booked in the project. The project was launched in 2011 with a launch price of Rs. 2,550 per sq. ft. and currently stands at Rs. 4, 850 per sq. ft.; showing a stunning price appreciation over the years.

Feeling excited and pleased, Mr. Prithvi Raj Kasana, MD, Morpheus Group said “After years of thorough dedication and hard work, I am pleased to announce that we have successfully completed Morpheus Greens. Special thanks to our esteemed brand ambassador Akshay Kumar; who accompanied us today and presented the keys to the rightful owners. My heartiest thanks to the entire Morpheus family whose years of flawless efforts have finally started to payoff. I also take this opportunity to wish everybody a very delightful Holi on behalf of the entire Morpheus family”.