Sector 150 in Greater Noida mooted as model of real estate development in NCR

NEW DELHI:To boost infrastructure in the newly developed sectors along the Noida-Greater Noida expressway, Noida Authority has started working on several projects envisaging connectivity with Faridabad and Greater Noida. All projects along the Expressway were reviewed recently by Noida Authority, which is also taking up a project to develop the 45-meter road which will connect Kalindi Kunj to Greater Noida. This road will cut the travel time from Kalindi Kunj to Greater Noida to 10 minutes.

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Noida Authority chief engineer AK Goel said that apart from that a 75-meter road in Sector 150 will connect to the two bridges being built on the Yamuna river to connect Faridabad. The official said that these projects will kick off in a couple of months.

Goel said major projects are being completed in Sector 150, which is being projected and developed as an ideal sector of the NCR. He added, "Sector 150 is developed over 600 acres of land. It is the greenest sector of NCR with 80% green cover and has 42 acres of parks. The authority also plans to develop a sports city and an international cricket stadium. Bridges to connect with Faridabad will also be developed in this sector," Goel said many leading developers including like ACE, Lotus Greens, ATS, Logix are developing green, low-density infrastructure and sports facilities and promoting greenery.

"Presently, people experience a nightmarish journey to south Delhi, Noida and Faridabad via Kalindi Kunj but with the connection of Kalindi Kunj road to Sector 150, people will be able to travel from Kalindi Kunj to Greater Noida in 10 minutes. We are expecting to start this project on ground in two months," he added.

"A flyover will be developed from the 45 meter road in Sector 150 to connect Sector 150 with Noida-Greater Noida expressway. This will help people to travel from Greater Noida to Noida to Noida to Greater Noida side of the expressway. This project will cut travel time from Kalindi Kunj to Greater Noida 10 minutes," he further said that the project will start on ground in couple of months.

Discussion is on with Haryana government to share cost of two bridges. Both bridges will be developed between Sector 149A-150 and Sector 168-187A in Noida region. The length of both the bridges would be 600 meter with eight lane each. 

Source - TOI

NCR Credai demands industry status for real estate

NOIDA: Credai members from across NCR on Tuesday observed a protest strike against the issue of 'difficulty in doing business.' All transactions and constructions were brought to a standstill while the builders gathered to submit deputations with the offices of the district magistrate and the chairman of Noida Authority.

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The Credai-NCR protest was observed as a fraction of the nationwide protest by the developers' group to mark condolence on the suicide committed by a Mumbai based builder, Suraj Parmar of Cosmos Group. Parmar was also the president of Thane chapter of Maharashtra Chamber of Housing Industry (Credai-MCHI).

In an 18-page suicide note left by Parmar, he has expressed his hopelessness in the system and the roadblocks which he has been facing in taking off with his project and the financial grind that followed.

"It is high time that real estate was given an industry status. Real estate is not only one of the biggest employing sectors, but we are end users of products created by 350 other industries. Despite playing such a great role in the national economy, we are short-changed. The builders need ease of doing business. The suicide of Suraj Parmar highlights the real situation that most builders are facing today in executing their projects," Manoj Gaur, President, Credai, NCR said.

"We have been demanding a single-window status for the builders. From environment clearances to all other certifications, it takes months together to get the project to the ground after buying land. Until the builders get a single window system, the entire process of approvals and clearances will continue to slow-down their pace," Amit Modi, Vice-President, Credai Western UP said.

"In a country where the film producers are given loans by banks, the builders are not. It is strange that the banks finance home buyers, but builders have to source money from other financial sources. Until these chinks in the real industry business are ;eared out, the next generation of builders will only shy away from the business," Gaur added.

Source - TOI

NCR Credai demands industry status for real estate

NOIDA: Credai members from across NCR on Tuesday observed a protest strike against the issue of 'difficulty in doing business.' All transactions and constructions were brought to a standstill while the builders gathered to submit deputations with the offices of the district magistrate and the chairman of Noida Authority.

www.sevagiri.com

The Credai-NCR protest was observed as a fraction of the nationwide protest by the developers' group to mark condolence on the suicide committed by a Mumbai based builder, Suraj Parmar of Cosmos Group. Parmar was also the president of Thane chapter of Maharashtra Chamber of Housing Industry (Credai-MCHI).

In an 18-page suicide note left by Parmar, he has expressed his hopelessness in the system and the roadblocks which he has been facing in taking off with his project and the financial grind that followed.

"It is high time that real estate was given an industry status. Real estate is not only one of the biggest employing sectors, but we are end users of products created by 350 other industries. Despite playing such a great role in the national economy, we are short-changed. The builders need ease of doing business. The suicide of Suraj Parmar highlights the real situation that most builders are facing today in executing their projects," Manoj Gaur, President, Credai, NCR said.

"We have been demanding a single-window status for the builders. From environment clearances to all other certifications, it takes months together to get the project to the ground after buying land. Until the builders get a single window system, the entire process of approvals and clearances will continue to slow-down their pace," Amit Modi, Vice-President, Credai Western UP said.

"In a country where the film producers are given loans by banks, the builders are not. It is strange that the banks finance home buyers, but builders have to source money from other financial sources. Until these chinks in the real industry business are ;eared out, the next generation of builders will only shy away from the business," Gaur added.

 

Source - TOI

Credai moves CCI against cement lobby; NCR Credai boycotts Lafarge; Ultratech

NOIDA/ GURGAON: To control the cost of construction and make home prices work for the common man, the Confederation of Real Estate Developer's Associations of India, Credai, has moved the Competition Commission of India (CCI) against Cement Manufacturers who have been unduly increasing the cost of cement.

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 Credai has also highlighted the violation by cement manufacturers of the Commission's "cease and desist" order of 2012. The 2012 order of CCI had held that the cement manufacturers had formed a price cartel and were fined close to Rs6000 crores by the regulator.

In its submission to the Commission, Credai has pointed out that the cost of raw material used in manufacturing the cement has come down from January 2015 to September 2015 but cement companies never passed on this benefit to their customers. Instead, they seemed to be working together in controlling supply and prices.

Earlier in the month, Credai NCR Board has unanimously decided to procure cement from the companies like Ultratech, Lafarge and others. All the members of Credai NCR agreed to implement the ban. The decision took effect in the Delhi, Noida, Greater Noida, Gurgaon, Ghaziabad, Yamuna Expressway, Raj Nagar Extension, Faridabad, Neemrana and Bhiwadi.

"Till two months ago, the builders were buying cement at Rs200 per bag, suddenly the price has gone up to Rs300 per bag, how can the builders adjust such huge increase in prices? The increase is unjustified and the 220 Credai members of NCR have boycotted some cement suppliers," Manoj Gaur, President, Credai NCR said.

Despite the low demand, the prices of cement have jumped by 20-40 % in top cities pan India in the last couple of months. "It is notable that the cost of raw material for cement production has come down significantly during January, 2015 to September, 2015. It is unfair that the cement manufacturers indulge in practices that control the prices of cement. CCI has warned the Cement Manufacturers Association in the past as well but it is unfortunate that they seem to be continuing with their price and market manipulation," Getamber Anand, President, Credai National said.

The confederation complained that there seems to be no grounds for supply restriction and the recent price increase in cement given the low demand. The confederation also brought to notice the Commission's order dated June 20, 2012 wherein cement manufacturers were directed to 'cease and desist' from indulging in any activity relating to agreement, understanding or arrangement on prices, production and supply of cement in the market.

"In that order the commission had determined the penalty amount on various cement companies. However, various cement manufacturers challenged the order before the Competition Appellate Tribunal that chose to grant stay to the penalties. But the Appellate Tribunal did not find anything wrong in the order of 'cease' and 'desist' which continues to operate till date," Manoj Gaur added.

Source - TOI

Unsold inventory may force realtors to cut prices in NCR

NEW DELHI: A slump in home sales has pushed builders' inventory to 'unsustainable levels' in the National Capital Region of Delhi, creating conditions for a real price correction that developers have so far avoided, experts say.

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Builders in the NCR had 175,000 unsold apartments in the three months to June, according to data from property consultancy JLL India. Most of these apartments though are under construction. While sales have been on a slide in most of the big cities, the problem in the NCR is peculiar. A mix of high prices and large sizes has pushed most of the on-sale apartments beyond the reach of average home buyers.

What has further compounded the problem is the fact that many of these apartments are located in far away areas that do not have much to boast in terms of infrastructure.

 "Unless prices come down, sales are likely to remain low in the NCR," said Rubi Arya, executive vice-chairman and director at private equity firm Milestone Capital Advisors. The NCR, she said, is now selling fewer homes in terms of volume than even a smaller market like Bengaluru. "Unless this unsold stock gets absorbed, it will be difficult for consumer confidence to come back in this market," she added.

 This has stretched the balance sheets of builders across the NCR, hampering their ability to reduce debt or launch new projects. Ashutosh Limaye, national director, research, at JLL India, said builders will come under further pressure because of this unsold inventory.
"In the secondary market, investors who had picked up properties earlier are becoming restless as they don't see much appreciation in prices. They want to exit. When this supply comes in to the market at a discount, it will create further pressure on developers, especially for small and mid-sized builders," said Limaye.

Source - TOI 

Unsold inventory may force realtors to cut prices in NCR

NEW DELHI: A slump in home sales has pushed builders' inventory to 'unsustainable levels' in the National Capital Region of Delhi, creating conditions for a real price correction that developers have so far avoided, experts say.

www.sevagiri.com

Builders in the NCR had 175,000 unsold apartments in the three months to June, according to data from property consultancy JLL India. Most of these apartments though are under construction. While sales have been on a slide in most of the big cities, the problem in the NCR is peculiar. A mix of high prices and large sizes has pushed most of the on-sale apartments beyond the reach of average home buyers.

What has further compounded the problem is the fact that many of these apartments are located in far away areas that do not have much to boast in terms of infrastructure.

 "Unless prices come down, sales are likely to remain low in the NCR," said Rubi Arya, executive vice-chairman and director at private equity firm Milestone Capital Advisors. The NCR, she said, is now selling fewer homes in terms of volume than even a smaller market like Bengaluru. "Unless this unsold stock gets absorbed, it will be difficult for consumer confidence to come back in this market," she added.

 This has stretched the balance sheets of builders across the NCR, hampering their ability to reduce debt or launch new projects. Ashutosh Limaye, national director, research, at JLL India, said builders will come under further pressure because of this unsold inventory.
"In the secondary market, investors who had picked up properties earlier are becoming restless as they don't see much appreciation in prices. They want to exit. When this supply comes in to the market at a discount, it will create further pressure on developers, especially for small and mid-sized builders," said Limaye.

Source - TOI