Real Estate Gurgaon

There are two contrary opinions that you must weigh before making a decision. According to Mishra of Zion, “Wait for three months. Developers will start announcing projects in the newly demarcated sectors. The likely pricing of real estate gurgaon will be Rs 2,200-2,600 per sq ft in sectors that are 8-10 km away from Gurgaon-Sohna Road. These new sectors will offer you an opportunity to buy something at a good location but at a much lower price.” According to Mishra, all that supply in the new area 1.75 lakh apartments by his estimate will also dampen prices in the established sectors.

Ahuja of Realty & Verticals is not so certain. “If the new sector is close to an established sector, it will command a comparable price. Only in far-off sectors, such as those near Pataudi or Jhajjar, will prices be much lower. Moreover, developers will not bring in so much supply at one go that prices in the existing sectors will be affected. They will release supply very slowly so that prices remain steady. After all they have bought land at high prices and want to make a profit.” Ahuja suggests that if you have the money, buy now before prices appreciate further in future.

Bhanote of Vipul concurs with the latter point of view. “More affordable housing will become available in the new sectors. But prices on Sohna Road will not be affected as it has a better location.”

The bottomline: if you need a house for self-use, go ahead and buy. Housing in the new sectors will become available only in the next three-four years. But if you want to buy an apartment as a long-term investment, wait and examine the options that the new sectors throw up.

Source://expressestates.in

Gurgaon plunged into panic on Friday afternoon with Haryana police enforcing a closedown of all commercial establishments and offices following an intelligence tip-off on a likely terror attack.

THE POSH GURGAON city went into a tizzy Friday afternoon with the Harayana police directing immediate vacation of all commercial and educational establishments after it was tipped by the intelligence on likely terror attacks.

Taking no chances, the police swung into action and asked all private security service providers to get establishments under their surveillance closed without any delay.

Following the raising of the alarm, office-goers were seen coming out of the many MNC offices and establishments being shut down for the rest of the day. All malls were vacated and shops were asked to down the shutters.

According to unconfirmed sources, this was part of a mock security drill carried out by the Haryana police. But the claim left many unanswered questions. If it was indeed a security drill why were even establishments in peripheral areas like Palam Vihar asked to get the premises vacated?

According to Col Vedpal of Star Estate Management Limited, which looks after all properties of Ansal in Gurgaon, “We were asked by the Haryana police, which apprehended planting of a bomb or a terror attack in the city, to get all facilities under us to be closed forthwith. They said some terrorists could also take refuge in any Gurgaon building and that we should be on the lookout.”

As the news spread like wild fire, media troops lined the main MGF Road to pick bytes for their story.

Till the filing of this report, there were no untoward incident reported from any part of the city.

Source://merinews.com

This is a moderate budget as far as its positive implications on the real estate sector are concerned. The fact that Section 80-IB of the Income Tax Act (sub-section 4) which pertains to tax incentives for specified industrial undertakings comes as a relief, as developers would otherwise have incurred an additional tax burden that would have been passed on to end users.

The five-year tax holiday afforded to Delhi, Gurgaon, Ghaziabad, Faridabad and Gautam in context with the upcoming Commonwealth Games will benefit those areas. This move will pump in demand for property in these areas and therefore push prices up.

The fact that service tax will be levied on commercial properties is definitely a step backwards. It will cause the cost of lease rentals to rise proportionately - another added burden that will be transferred directly to the end users.

The drop of excise duty on cement, though beneficial to the construction industry, will not translate into an overall boost of more than 1-2%.

The higher initiative to continue in public-private partnerships is definitely encouraging. It will help maintain growth in the real estate sector.

The $6 billion infrastructure fund formulated by the Deepak Parekh Committee last year is being put into effect and this is nothing but good news for the infrastructure industry. Investment in infrastructure will become easier, helping to escalate infrastructure development. This will obviously have positive repercussions on the real estate sector as well.

The prospect of completion of all major undertakings associated with the Golden Quadrilateral project by 2009 is extremely positive, since this will enhance connectivity between metros and bring in a considerable supply of land. New corridors will open up, and these will be typified by affordable rates that will benefit end users. In fact, the budget's thrust on rural infrastructure will escalate real estate opportunities in areas that were hitherto neglected. Moreover, it will lessen the movement or rural dwellers to urban areas, thus decreasing the load on our already saturated cities.

The finance minister's willingness to seriously implement the plans of turning Mumbai into a world-class financial hub has put this intention into the public domain and we can certainly look forward to some major positive changes in Mumbai's real estate market.

Resource://financialexpress.com

With the UPA chairperson Sonia Gandhi having laid the foundation stone for the revamped Delhi airport last Saturday, the ball has been set rolling for the first modern, international-styled airport in the country. But, what has also been set rolling are the real estate rates all around. According to experts, a 10-15% rise in rates has already been registered in areas near the airport like Dwarks as well as Udyog Vihar, DLF Phase II & III in Gurgaon.

Says local realtor Vikram Chopra, “In a country where connectivity is a major issue and the construction of an expressway or a flyover result in a hike in the prices of the surrounding real estate, an airport that is going to be the first internationally-styled one in the country is big news. In fact, apart from Gurgaon and Dwarka, the increase in property rates has already started happening at farmhouse colonies like Westend Greens, Pushpanjali, Vasant Vihar and Shanti Niketan in South Delhi.”

he modernisation of the airport has also added to the image of the areas around it, especially Dwarka. “The airport revamp has added to the sentiment of the area and has become a selling point for real estate developers and dealers alike. People’s point of view too has changed and most of them, especially foreigners now want to live in close proximity to the airport,” says property dealer Vinod Sindhu.

But, it is not just the Delhi airport that has seen an increase in realty rates all around. This phenomenon is more prominent in cities like Dubai and Singapore, which are also popular transit points for travellers, apart from being great tourist destinations. Both cities saw a quantum jump in the real estate around its state-of-the-art airports — to the tune of 20-25% — owing to the economic boom that the city’s experienced after the modernisation of their port and airport.

Says Deepak Bhavsar of Trammel Crow Meghraj Property Consultants, “Airports always have a spin-off effect on the surrounding real estate, especially commercial, owing to the link that industries like logistics and tourism have with it.

Source://financialexpress.com