Rishabh Group Ropes in Farhan Akhtar as Brand Ambassador

Rishabh Group, a leading real estate developer in Delhi-NCR, has named actor and director Farhan Akhtar as their Brand Ambassador, who will henceforth promote the Group’s upcoming projects.

According to Sanjeev Jain, CMD, Rishabh Group, “We are overwhelmed to get associated with much sought-after, proven, successful and multi-talented actor Farhan Akhtar. We, as a company, constantly believe in innovation and committed to provide something different to our customers. Farhan is a name synonym for delivering something unique with his dedication and perfection. With our association, we are sure together will deliver many architectural marvels for our valued customers.”

Echoing the same sentiments Farhan Akhtar, said, “I am very happy to be associated with Rishabh Group. For me delivering something creatively unique to my fans has always been top on priority and it requires a lot of hard work, understanding of the subject and commitment. Rishabh Group has been known not only for focusing on the quality of construction but also safety of investment and integrity of commitment by providing people with improved quality of life and living standards”. 

Rishabh Group has developed more than 20 lakh square feet of residential and commercial space in the last decade.  The company has more than 20 lakh square feet of residential and commercial space in various stages of development and 30 lakh square feet of upcoming development.

Rishabh Group has completed residential and commercial projects in Indrapuram, Vaishali, Ghaziabad & Delhi NCR.

In the coming years, the Group will be focusing on providing International Class Studio Apartment, Affordable & Premium apartments as well as Commercial projects and Hotels, a release stated.

Despite rate cut, real estate sentiments remain lukewarm: ASSOCHAM

Despite the recent rate cut of 50 bps by Reserve Bank of India (RBI) and great offers made by developers on the festive season, the investment in the property have remained lukewarm in and around the NCR region due to lack of confidence in state of economy, delay in project execution, lack of fresh employment generation and overall slowdown, reveals the ASSOCHAM recent study. 

"The sentiment in the housing market is really at a low key. The prices have almost crashed but they are still un-affordable. Be it Rohini, Dwarka, South Delhi, Noida, Gurgaon, the prices of property are down by 25-30% as compared to the last two years.”, said D S Rawat, Secretary General ASSOCHAM while releasing the survey.

The ASSOCHAM conducted a random survey of nearly 125 real estate developers in Delhi-NCR. The survey reveals that demand for buying property have decreased by over 30% over the last year.

As per the ASSOCHAM paper, inordinate delays in getting necessary approvals from multiple regulations and authorities result in cost and times overruns. The resale or secondary market is also dull this festival season as there is very little resale going especially in the NCR and surrounding areas, adds the survey.

According to survey, the residential market has witnessed a steep decline by 25-30% in new launches as well as demand resulting a significant shrinkage. The unsold inventory pressure in NCR region is the highest among all other cities.

According to the majority of real estate developers in NCR regions said, about 62% of the unsold real estate in NCR is in areas which are currently uninhabitable. The problem has been confounded by delays in regulatory clearances and litigations, points out the survey.

The NCR residential market still has an estimated 1,70,000 units of unsold inventory which is approximately 30% of the units under construction, adds the survey. As per the survey, there are nearly 8.5 million workers engaged in building and other construction activities in India. 

The ticket price 3-bedroom, 2 BHK  and single room flats has seen correction by 30 per cent in Noida, 25 per cent in Gurgaon and 15 per cent in some key areas of Delhi but still, the demand stays subdued, adds the survey.

Modular kitchen, LED televisions and air conditioners are among the most common freebies on offer this Diwali. Some developers offered hefty discounts to the basic sale price for early investors. Many others warned of sharp revision in property rates post Diwali. However, the lure of freebies failed to charm home buyers, the survey noted.

Majority of the developers have complained that inordinate delays in getting necessary approvals from multiple regulations and authorities resulted in cost and time overruns.

To counter the slump in sales, developers have been offering some discounts and incentives. But even these steps have failed to attract buyers. The sales continued to remain low despite developers offering attractive pricing schemes and discounts to attract buyers.

Festive season considered to be auspicious for home buying and offering bargains, contributes over 30 percent of annual realty sales. But with the prevailing depressed market sentiment, the sector has been witnessing muted sales since the festive season of 2015, recording 30-35 percent lower sales compared to the healthy period of 2010-11.

Besides offering standard freebies like parking and club facilities, modular kitchens, air-conditioners, developers are taking just 5-10 percent of the house price as booking amount and that too in installments, with the balance payment on possession.

M3M pays Rs 300 crore advance to Sahara to seal land deal

M3M India, a leading ultra-luxury real estate developer, has paid a whopping Rs 300 crore in advance to Sahara Group to close the deal of Rs 1221 crore on a premium land parcel in Gurgaon. 

The unprecedented move shows the real estate giant’s earnest desire to develop the land into a Smart City within a short span of time. This demonstrates M3M’s confidence and desire to obtain and go-ahead with the development.

M3M India has made this investment following the land transaction worth Rs.1221 crore that it had sealed with Sahara Group for 185 acres of land in Delhi NCR region. The land will be utilized for the development of branded residencies, branded service apartments, multiplexes, hotels, offices, entertainment centers and other smart city features.

Pankaj Bansal, Director-M3M India said, “Every deal we enter into is a matter of great importance for us. We are eager to close the deal with Sahara Group so that we can kick start the developmental work of the Gurgaon land; hence we opted to make the advance payment. This is a testament to the fact that we are constantly endeavoring to make remarkable contributions to the real-estate industry and construct uber-smart cities for our patrons.”

Going by the deal, M3M India was supposed to pay only Rs 150 crore but ended up paying another tranche of Rs 300 crore to shorten the time to conclude the deal. Contrary to the lukewarm position of most real estate players in the market today, M3M India is launching into new deals and leaving no stone unturned to transform the fate of the property landscape of the country.

Buying property in Gurgaon Ext

Touted as an emerging real estate hotspot in the Delhi NCR, Gurgaon Sohna Road is the cynosure of all eyes. One of the fastest growing stretches on the outskirts of Gurgaon, Sohna, which has acquired the name of ‘Gurgaon extension, is the place for residential and commercial developments in the coming days.

As real estate in Gurgaon is at its peak after having experienced a boom, the next destination developers and investors are looking at is the fast developing Sohna. The area offers all types of housing – LIG, MIG, affordable, luxury, super-luxury, duplex, independent, et al.

The boom in this area’s real estate market is mainly because of fast upcoming modern townships and industrial developments at various sectors of Gurgaon and also the increasing number of industrial model township (IMT) projects at places like Dharuhera, Manesar and Bhiwadi.

According to industry experts, After Gurgaon, Gurgaon Ext, as it is called, will be the next real estate destination in this region and the superior demand to commercial and residential spaces is testimony to this claim.

Gurgaon extension has a variety of segments to offer for realty seekers on either side of the road such as residential apartments, commercial spaces, villas, group housing townships, retail and IT parks.

Leading real estate developer Raheja has a large chunk of land, which they have acquired in 2009-2009. Perhaps they are one of the first among many to launch a project named Aranya, on a land bought under the old master plan. Planned to be an integrated township, the site is close to IMT in Sohna where a 1,700-acre industrial estate is going to be put up by the Haryana government.

On investment point of view, one would get double his/her ROI once IMT Sohna becomes a reality. Since, Delhi-Mumbai dedicated freight corridor is close by, and coming up of all infrastructure and mega industrial estate along the KMP corridor will add more value to the investments here.

Another major realty player who will be launching their project shortly is Gold Souk Group. They have a huge land bank here and will soon come up with multiple projects. “The new realty hub is ideally located with Gurgaon and Faridabad can be reached at ease. With the KMP Expressway linking NH8 to NH2, the trio to witness real estate boom in the coming days,” says Ashish Gupta, Joint MD of Gold Souk Group.

ILD International Land Developers will soon launch a residential project here. Central Park and Avalon are the other developers who are planning residential projects in the Gurgaon Extension belt.

Accessibility and connectivity are the two major factors attracting builders to launch their projects on this long stretch. Occupants can also enjoy panoramic view of the Aravalis and enjoy the nature.

Due to its accessibility from the Golf Course Road, NH-8, the Delhi airport, Delhi and other NCR localities as well as for its good connectivity with forthcoming KMP Expressway, several new projects are being coming up along the Gurgaon-Sohna Road.

“Southern Peripheral Road, which connects NH 8 to Golf Course Road and South Delhi is being made. The proposed IMT Sohna will be the next big industrial park in the area after IMT Faridabad and IMT Manesar. Over and above, the master plan for Gurgaon Extension (Sohna), which has been announced recently, will provide a logical expansion to the Gurgaon realty.

Well connected to Educational institutes in Gurgaon like KR Mangalam University, GD Goenka etc., Gurgaon ext will be beneficial for potential residents with the presence of MMTC Refinery adding up to the development. Also, the Gurgaon Extension has emerged as a location for affordable housing for LIG and MIG sections. ‘These developments will surely create a lot of interest here,” says Ashish Gupta, JMD, Gold Souk Group.

To make the area a new real estate hub, HUDA has prepared a new road map for Gurgaon-Sohna Road, which was built in 2008, to ease the traffic movement. The existing road will be widened to 60 metres and a footpath will be laid on both sides of the road.

TATA Housing sells all 150 luxury homes in Gurgaon project in two days

 

New Delhi: Following Godrej Properties claim that it had sold the entire project in Gurgaon in two days,  Tata Housing Development Co. Ltd., India's leading real estate development company, said that it has sold all the 150 luxury homes in its newly launched project ‘Primanti’ in Gurgaon for Rs 350 crore within just two days of launch.

The group has launched their residential project in Gurgaon - Primanti, a premium luxury housing complex, on December 2 thus further expanding their presence in Delhi NCR region.

In a statement, the company said it has sold the entire second phase of its premium luxury housing project within two days of the launch. “The phase II of the project comprised of 150 units spread across 4,50,000 sq ft and valued at Rs 350 crore,” it added.

Spread majestically over 36 acres of sprawling area, Primanti is no ordinary address, it is envisioned in a way where nature's boundless beauty meets every luxury one can imagine. A series of interconnected orchards, meadows and gardens span sinuously across the complex. The rich flora forms dramatic patterns with stone structures and water features, inspired by Delhi's Mughal Gardens.

Primanti is a green haven with 80% of the property reserved for open spaces. Amidst these landscaped gardens are the premium villas, duplexes and luxurious tower residences, with elevated courtyards, open terraces and private gardens. Strategically located on the Southern Peripheral Road in Sector 72 of Gurgaon, this exclusive residential property is closely connected to NH8, which provides high speed access to airports, business centers, shopping malls, schools, healthcare facilities, entertainment areas and many other important destinations.

Speaking on the occasion of the launch, Brotin Banerjee, MD & CEO, Tata Housing Development Co. Ltd., said, "We are proud to launch our new luxury residential project in Gurgaon, thereby increasing Tata Housing's portfolio of premium and luxury residences. After Prive, Lonavala, this will be the next landmark in the luxury housing. New Luxury being the theme of Primanti, is truly befitting as it is envisioned to redefine luxury in India, Primanti will offer its residence a modern & contemporary designed product having two clubhouses and sky restaurant at 40th floor."

He further added, "As a quality conscious and responsible real estate development company, we believe in creating homes based on an in-depth understanding of consumer needs and preferences. We are committed to offer our consumers a unique and differentiated product that would provide them a great lifestyle while at the same time the project would abide by the tenets of sustainable and green development under the guidelines of IGBC."

Designed by international architect Kohn Pederson Fox Associates (KPF), Primanti offers 102 world-class villas, 75 Executive Floors, 89 Executive Apartments and 828 Tower Residences. It also offers a state-of- the-art clubhouse and sporting zone along with a Spa facilities designed to provide the perfect ambience to de-stress and unwind.

Paul Katz, Managing Principal of KPF, said: "Tata Housing is one of the most prestigious residential developers in India, and we are excited to have the opportunity to introduce new living concepts to a rapidly growing city like Gurgaon. We are able to draw on our experience of designing new cities and tall buildings around the world, to create a sustainable neighborhood suited to the specific cultural, social and climactic demands of this region."