ICCPL PROPERTY NEWS

AVNEESH SOOD OF EROS GROUP CONDUCTS PLANTATION DRIVE

Greater Noida: With temperatures rising up this season, Eros Group organized a plantation drive on Wednesday at its premium project, Eros Sampoornam, located in Greater Noida West. The drive was conducted in presence of several residents, Eros team, and Director of Eros Group, Mr. Avneesh Sood. Around 150 saplings, 5 full grown palm trees and few more semi-grown trees were rooted at the site, covering areas near the boulevard, kids activity area and around the society perimeter.

“The drive was one of our endeavors to conserve the environment and also with summers knocking on the doors, these newly planted trees could be beneficial for everyone to have the temperature and pollution level controlled of the whole society”, said Mr. Sood. Over 80 people had joined the event and participated arduously to make the society greener. The newly planted trees would be kept under continuous maintenance by the society administration and the residents as well. Beginning in the morning the drive concluded by afternoon.

ICCPL PROPERTY NEWS

RBI OFFERS MULTIPLE INDISCERNIBLE PLUSSES

The financial year 2016 – 17 was a true example of any developing economy which was marked with both ups and downs for the real estate sector.  Where one could see the peak of the sector in the past couple of years during the festive season, suddenly after it, demonetisation crippled the sector to it’s bottom most for the upcoming two months. But with things like RERA, Smart Cities Mission and Housing for All in the pipeline, the sector is expected to perform better than ever. As one of the highest contributors to the country’s GDP and an end user to over 30 allied industries, very high hopes rest on this sector to perform well in order for the economy to revive. On top of it all, the Reserve Bank would always play a key role in deciding the fate of this sector through it’s bi – monthly monetary policy reviews.

With today’s decision in the monetary policy review, the Repo rate remains unchanged at 6.25 percent. However, the corridor under the LAF has been narrowed down to 25 basis points which makes the Reverse Repo rate stand at 6.0 percent. This adjustment under the LAF also means that the Marginal Standing Facility (MSF) also stands reduced at 6.5 percent basis the recalibration of MSF difference to 50 basis points above the Reverse Repo rate. Cash Reserve Ration (CRR) at 4 percent and Statutory Liquidity Ratio (SLR)  at 20.5 percent remain unchanged. There are no direct benefits attached for the financial institutions but indirectly they gain a lot with the increase in Reverse Repo and reduction in the MSF, allowing them to lend to RBI at higher rates and enabling overnight borrowing at a lower rate.

Industry Reacts: 

Manoj Gaur, President CREDAI-NCR & MD, Gaursons India Ltd.

It is great to see that the Reserve Bank has been so persuasive towards reduced lending rates in the market, specially from the end of Financial Institutions. Increased Reverse Repo rate would mean RBI withdrawing money from the market at a higher rate, hence filling the hands of the banks further. However, it’s on the part of the financial institutions to convert these indirect benefits into something substantial for the end users and promote healthy business environment in the market.

Gaurav Gupta, General Secretary, CREDAI – RNE

A recalibrated MSF standing reduced at 6.5 percent would mean that the overnight borrowing of banks from RBI would come at a lower rate giving a freer hand to banks at lending. However, some direct rate cuts could have been also beneficial in the short term for the realty sector because with the recent data release by RBI which states that HPI has picked up in the last calendar year would have allowed the realty sector to ride on improved sentiments from all corners of the economy.

Vikas Bhasin, MD, Saya Group

Also with global growth indicators showing signs of stronger activity in most of the Advanced Economies and further indicators pointing to a modest improvement in the macroeconomic outlook of the country might have prompted the apex bank to keep a cautious approach towards any major changes in the key rates. However, it was very heartening to see that the RBI has been very accommodative towards reduced lending rates in the market and hence has passed on benefits indirectly to the government allowing them the necessary room to work upon.

Dhiraj Jain, Director, Mahagun Group

In case of a low interest rate environment surrounding the economy and cash available in abundance, the risk of inflation moving up exists. Hence, the RBI doesn’t reduce the rates until it has been fully convinced about the inflation control; as even the inflation had been on a rise for the fifth straight month till February but has taken a downward trend in March which would be kept under strict vigil the next policy review allowing them the necessary cushion to work further on the key rates. Till then, even the financial institutions should also devise ways to offer indirect benefits to borrowers. 

Rajesh Goyal, Vice President CREDAI-Western U.P. & MD, RG Group

This is not a surprise move by the RBI as everyone was expecting a stagnant approach towards the key rates. The market has been gaining stability and post the union budget, further ease could have been thought off on the cards. Even though the RBI has not provided any rate cut this time, fresh home loan borrowers should not worry much as they may still witness lowered EMIs because amidst intensifying competition among the lenders, the banks might be forced to start cutting down the interest rates themselves.

ICCPL PROPERTY NEWS

DEHRADUN’S REALTY CATCHING UP PACE

       If you are planning to buy a second property, then Dehradun might just be the perfect destination to fulfil your desires. From being a favoured tourist hot spot to a pilgrimage, Dehradun is a good real estate bet that can allow a buyer to not only get a second home residence option, but provide greater returns on investments too. Due to its existing institutional, education and industrial hubs, the infrastructure in the region is ever-expanding; and now with the realty giants stepping up, a big makeover is in progress that will further enhance the attraction quotient of the city.

Even the NRIs have been showing a keen interest in the region, says Avneesh Sood, Director of Eros Group as he adds, “Since the fall of Rupee against the dollar, last couple of years have witnessed a surge in foreign investments in Dehradun and it ranks quite well against other major cities in the country and we expect this investment plan to increase by another 20-25 percent in the next couple of years.” According to a report by Assocham in 2013, Dehradun ranked fifth amongst the top favoured destinations in India by NRIs where Bangalore claimed the first spot.

Realty Map of Dehradun

The city being the capital of Uttrakhand is spread across an area of 3,088 sq. kms. with a population of almost 1.7 million. Apart from this population, there is a strong domestic and international footfall that takes place across Uttrakhand where Dehradun picks up the limelight. According to a data from Ministry of Tourism, total of approx. 2.5 crore Indian tourists visited Uttrakhand in 2015 coupled with over 1 lakh foreign travellers. This footfall has been increasing on an annual basis, highlighting the development of the state and its major cities, where Dehradun is most prominent. These increasing numbers have pushed the developers to come out with residential, commercial and mixed-land use projects across the city. “Hospitality, retail and realty sector and industries gain the most when a region offers a wide variety of options for a tourist. Developed retail and hospitality sites in such regions allows greater footfall that can also enhance the demand for real estate in the long run. Tourism in India has been a strong converter for the realty sector as well where Tier 2 regions gain the most”, avers Prithvi Raj Kasana, MD, Morpheus Group.

Speaking about the popular micro pockets of Dehradun, there are a total of 11 favoured regions by the developers where construction is taking place at a rapid pace and several projects have been already delivered. Descending on the basis of demand of the regions, chart begins with Sahastradhara, followed by Rajpur Road, GMS Road, Mussoorie Road, Haridwar-Dehradun Road, Dalanwala, Nehrugram, Canal Road, Race Course, Jakhan and Chakrata Road.

S. NO.

REGION

CIRCLE RATES(Rs. per sq. mtr.)

AVG. PRICE(Rs.)

UNIT SIZE RANGE(sq. ft.)

1

Sahastradhara

28,200

35 Lakh

550-3,550

2

Rajpur Road

65,000

55 Lakh

475-3,019

3

GMS Road

36,000

40 Lakh

1,120-2,883

4

Mussoorie Road

38,100

40 Lakh

413-3,250

5

Haridwar-Dehradun Road

38,100

40 Lakh

625-3,200

6

Dalanwala

38,100

40 Lakh

631-5,712

7

Nehrugram

28,000

35 Lakh

950-5,100

8

Canal Road

65,000

55 Lakh

1,020-4,030

9

Race Course

38,100

45 Lakh

850-2,620

10

Jakhan

28,000

40 Lakh

970-3,143

11

Chakrata Road

28,200

35 Lakh

845-1,555

“Real estate map of Dehradun offers a wide range of unit sizes available at highly affordable prices which makes it an even better deal for people opting for second property options. Even the property prices observe good appreciation on an annual basis with infrastructure witnessing a major revamp. Due to the residential sales rising in the regions, demand for commercial setups has lead to the supply of retail and office spaces”, says Abhishek Bansal, Executive Director, Pacific Group.

At present, Dehradun offers a total of 157 residential and 6 commercial projects that are in different stages of construction with several projects ready to move in. Amongst the big names, Pacific Group, Supertech, ATS Group, Pushpanjali Builders, Unitech Group, Pearls Infrastructure, Parsvanath, Sikka and others have projects in place.

Demand for housing in Dehradun is a lot different from that of NCR. Obvious reason being, located at hilltop, it doesn’t allow the developers to construct high rises. As per the present building by-laws in the city, a tower can have a maximum of G+9 floors. Thus, the concept of independent or villa living is predominant in Dehradun. Even the current inventory of Dehradun offer more villas than apartments. Highlighting the same, Kushagr Ansal, Director of Ansal Housing explains, “The criteria for development on hilltops is way different from the plains due to the different building by-laws present in those regions and thus, the concept and demand is also different. Duplex and Villa living is more common than apartment style living and thus, projects offered according to the former concept is more prominent in such regions than the latter.”

Infrastructure In Focus

Dehradun has been quite active in terms of developing and upgrading the infrastructure along the micro regions. Speaking about the developed infrastructure, there is a strong presence of hospitality, retail, health, educational institutes, IT parks, administrative setups and strong road and aerial connectivity. For instance, Doon University, Indian Military Academy, IIAE aeronautical college, Forest Research Institute and Institute of Petroleum comprise amongst the educational strongholds in the region. FMCG industry has been the core behind Dehradun’s development with the presence of big brands such as HUL, ITC, PepsiCo India Holdings Pvt. Ltd. and inclusion of Patanjali in 2006. Furthermore, Jolly Grant Airport has been upgraded and shares a strategic connectivity with Dehradun, Hrishikesh and Haridwar, falling within a distance of 25 Kms from each. Also, the existing Helipad in Sahastradhara is under plans to be upgraded into an Airport that will directly cater the city. Dehradun is located nearly 45 Kms from NH 58 and has another National Highway- NH 307 which links it with Chhutmalpur in Uttar Pradesh on NH 344. Also, there are 2 state highways connecting Dehradun with Shimla and Saharanpur via SH 2 and SH 57 respectively. “Long run acceptance and performance of any region is directly dependent on its infrastructure. Tier 2 cities have been well planned and connected with Tier 1 cities, where Uttrakhand and UP presents a classic case of infrastructure driven realty. With so many infra projects in pipeline, National and State Highways offering superior road network, the region’s realty sector will shape up even better few years down the line”, concludes Rakesh Yadav, Chairman, Antriksh India Group.

ICCPL PROPERTY NEWS

DEHRADUN’S REALTY CATCHING UP PACE

       If you are planning to buy a second property, then Dehradun might just be the perfect destination to fulfil your desires. From being a favoured tourist hot spot to a pilgrimage, Dehradun is a good real estate bet that can allow a buyer to not only get a second home residence option, but provide greater returns on investments too. Due to its existing institutional, education and industrial hubs, the infrastructure in the region is ever-expanding; and now with the realty giants stepping up, a big makeover is in progress that will further enhance the attraction quotient of the city.

Even the NRIs have been showing a keen interest in the region, says Avneesh Sood, Director of Eros Group as he adds, “Since the fall of Rupee against the dollar, last couple of years have witnessed a surge in foreign investments in Dehradun and it ranks quite well against other major cities in the country and we expect this investment plan to increase by another 20-25 percent in the next couple of years.” According to a report by Assocham in 2013, Dehradun ranked fifth amongst the top favoured destinations in India by NRIs where Bangalore claimed the first spot.

Realty Map of Dehradun

The city being the capital of Uttrakhand is spread across an area of 3,088 sq. kms. with a population of almost 1.7 million. Apart from this population, there is a strong domestic and international footfall that takes place across Uttrakhand where Dehradun picks up the limelight. According to a data from Ministry of Tourism, total of approx. 2.5 crore Indian tourists visited Uttrakhand in 2015 coupled with over 1 lakh foreign travellers. This footfall has been increasing on an annual basis, highlighting the development of the state and its major cities, where Dehradun is most prominent. These increasing numbers have pushed the developers to come out with residential, commercial and mixed-land use projects across the city. “Hospitality, retail and realty sector and industries gain the most when a region offers a wide variety of options for a tourist. Developed retail and hospitality sites in such regions allows greater footfall that can also enhance the demand for real estate in the long run. Tourism in India has been a strong converter for the realty sector as well where Tier 2 regions gain the most”, avers Prithvi Raj Kasana, MD, Morpheus Group.

Speaking about the popular micro pockets of Dehradun, there are a total of 11 favoured regions by the developers where construction is taking place at a rapid pace and several projects have been already delivered. Descending on the basis of demand of the regions, chart begins with Sahastradhara, followed by Rajpur Road, GMS Road, Mussoorie Road, Haridwar-Dehradun Road, Dalanwala, Nehrugram, Canal Road, Race Course, Jakhan and Chakrata Road.

S. NO.

REGION

CIRCLE RATES(Rs. per sq. mtr.)

AVG. PRICE(Rs.)

UNIT SIZE RANGE(sq. ft.)

1

Sahastradhara

28,200

35 Lakh

550-3,550

2

Rajpur Road

65,000

55 Lakh

475-3,019

3

GMS Road

36,000

40 Lakh

1,120-2,883

4

Mussoorie Road

38,100

40 Lakh

413-3,250

5

Haridwar-Dehradun Road

38,100

40 Lakh

625-3,200

6

Dalanwala

38,100

40 Lakh

631-5,712

7

Nehrugram

28,000

35 Lakh

950-5,100

8

Canal Road

65,000

55 Lakh

1,020-4,030

9

Race Course

38,100

45 Lakh

850-2,620

10

Jakhan

28,000

40 Lakh

970-3,143

11

Chakrata Road

28,200

35 Lakh

845-1,555

“Real estate map of Dehradun offers a wide range of unit sizes available at highly affordable prices which makes it an even better deal for people opting for second property options. Even the property prices observe good appreciation on an annual basis with infrastructure witnessing a major revamp. Due to the residential sales rising in the regions, demand for commercial setups has lead to the supply of retail and office spaces”, says Abhishek Bansal, Executive Director, Pacific Group.

At present, Dehradun offers a total of 157 residential and 6 commercial projects that are in different stages of construction with several projects ready to move in. Amongst the big names, Pacific Group, Supertech, ATS Group, Pushpanjali Builders, Unitech Group, Pearls Infrastructure, Parsvanath, Sikka and others have projects in place.

Demand for housing in Dehradun is a lot different from that of NCR. Obvious reason being, located at hilltop, it doesn’t allow the developers to construct high rises. As per the present building by-laws in the city, a tower can have a maximum of G+9 floors. Thus, the concept of independent or villa living is predominant in Dehradun. Even the current inventory of Dehradun offer more villas than apartments. Highlighting the same, Kushagr Ansal, Director of Ansal Housing explains, “The criteria for development on hilltops is way different from the plains due to the different building by-laws present in those regions and thus, the concept and demand is also different. Duplex and Villa living is more common than apartment style living and thus, projects offered according to the former concept is more prominent in such regions than the latter.”

Infrastructure In Focus

Dehradun has been quite active in terms of developing and upgrading the infrastructure along the micro regions. Speaking about the developed infrastructure, there is a strong presence of hospitality, retail, health, educational institutes, IT parks, administrative setups and strong road and aerial connectivity. For instance, Doon University, Indian Military Academy, IIAE aeronautical college, Forest Research Institute and Institute of Petroleum comprise amongst the educational strongholds in the region. FMCG industry has been the core behind Dehradun’s development with the presence of big brands such as HUL, ITC, PepsiCo India Holdings Pvt. Ltd. and inclusion of Patanjali in 2006. Furthermore, Jolly Grant Airport has been upgraded and shares a strategic connectivity with Dehradun, Hrishikesh and Haridwar, falling within a distance of 25 Kms from each. Also, the existing Helipad in Sahastradhara is under plans to be upgraded into an Airport that will directly cater the city. Dehradun is located nearly 45 Kms from NH 58 and has another National Highway- NH 307 which links it with Chhutmalpur in Uttar Pradesh on NH 344. Also, there are 2 state highways connecting Dehradun with Shimla and Saharanpur via SH 2 and SH 57 respectively. “Long run acceptance and performance of any region is directly dependent on its infrastructure. Tier 2 cities have been well planned and connected with Tier 1 cities, where Uttrakhand and UP presents a classic case of infrastructure driven realty. With so many infra projects in pipeline, National and State Highways offering superior road network, the region’s realty sector will shape up even better few years down the line”, concludes Rakesh Yadav, Chairman, Antriksh India Group.