Tag Archives: Indian housing

Coimbatore bypass goes through the costliest property markets

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Coimbatore Bypass, Coimbatore Property Market, India real estate news, Indian realty news, India property market, Indian housing, Track2Media Research, Track2RealtyTrack2Realty Exclusive: Rajeev Dash, a textile exporter from Chennai was on the lookout for a plot in Coimbatore from where he could procure the textile stuff. However, his search for an easy entry to the local market with anticipation of availability of low cost property met with a surprise. The brokers in the local market showed him a number of properties, but none below the not-so-believable crore plus figure. This made him wonder whether he is negotiating in the Coimbatore market or the property agents are taking him for a ride.

On a closer look, however, made him realise that this pocket of Coimbatore commands as high premium as many other regions of the Country and Coimbatore does not necessarily means low cost property market. If you think Coimbatore property market is only meant for affordable projects with moderate ticket size, probably you have not been exposed to the property markets around the Coimbatore Bypass.

It is one of the costliest property zones not only in the city but even from the standpoint of national average. The Coimbatore Bypass refers to a series of bypasses connecting the various National Highways and State Highways passing through and originating in the South Indian city of Coimbatore. No wonder, it is one of the most sought after location for business class.

The zone has historically been an industrial belt before it came into prominence with the Coimbatore City Municipal Corporation undertaking the construction of six rail-over-bridges in the city.In 2008, the State Highways Department came up with a proposal to create a Ring Road passing through Peelamedu Road, Kalapatti Road, Saravanampatty Road and Kurumbapalayam Road to help decongest Avanashi Road, Mettupalayam Road and Sathyamangalam Road.

The 12 km road was aimed to extend from the South India Textile Research Association (SITRA) Junction in Peelamedu, going through Kalapatti Road and connect Sathyamangalam Road at Saravanampatty and then to further connect Mettuppalayam Road at Kurumbapalayam.

The 28 Km long Coimbatore bypass was built and commissioned by L&T Transportation Infrastructure Limited under the first road privatisation scheme that was implemented in South India on BOT (Build Operate Transfer) basis. The bypass road takes off On the Salem side of the National Highways 47 at Nilambur and rejoins it on the Palghat side near Madukkarai.

The nature of property market in the region has undergone major change in the last few years due to bypass road. Known for only having industrial establishments not so long ago, today it has a mix of property though commercial establishments still dominate the region.

As per a study, there are 36 per cent commercial plots/land, 27 per cent residential plots/land, 9 per cent warehouses/godowns, 9 per cent independent houses, 9 per cent farm houses and 9 per cent agricultural plots/land in this zone. The prominent nearby localities are Eachanari, Malumichampatti Village and Malumicham Patti.

Numero uno positioning of NH 24 on National Highways

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By: Prameet Narula

NH24, National Highway 24, NHAI, National Highway Authority of India, India real estate news, Indian realty news, India property market, Indian housing, Track2Media Research, Track2RealtyTrack2Realty Exclusive: Real estate development along highways and expressways is an established reality of India’s urban growth, yet a few have been trend setters. These are the territories which have been investment magnet much before being fully developed. National Highway 24, popularly known as NH 24 that connects the national capital Delhi to Uttar Pradesh capital Lucknow running 438 kilo meter in length is one such highway which is being seen as the new growth corridor of north India in general and Delhi-NCR in particular.

What actually makes NH 24 different from other National Highways? This can not be answered with credit to any one factor. As a matter of fact, a combination of factors has collectively elevated NH 24 as a premium National Highway worth investment. Be it residential developments or the mushrooming small and medium enterprises, the stretch has something to offer for all. The best part is the affordability while being close to all the major landmark destinations of the Delhi-NCR.

NH 24 has the locational advantage, added with the fact that the Ghaziabad Development Authority made sure that the land is released at a price point to keep the region most affordable in the Delhi-NCR region. As a result, social infrastructure also shaped well along the stretch with many schools and hospitals coming up. Moreover, Public Private Partnerships in the region (PPP) has also taken off well. As a matter of fact, in one of rare cases of different developers coming together, a mega township has emerged along NH24. The township called Crossings Republik has been developed by a syndicate of seven builders including Gaursons India, Assotech, Mahagun, Suptertech, Paramount, Ajnara and Panchsheel groups on about 360 acres.

Prima facie it seems that the journey of NH 24 on a fast forward track has just started. The government has some ambitious plans that can change the urban landscape in this part of the world. It is not just widening of the NH 24 to 14 lanes but also the kind of state-of-the-art mega township projects that are in the pipeline. Ghaziabad Development Authority Vice Chairman Santosh Kumar Yadav recently said that there is a 600-acre land bank with Awaas Vikas across CISF headquarters, which is virgin land located in an area called Siddharth Vihar and is as big as Vaishali. According to him, the direction of residential growth in Ghaziabad will now change.

The Ghaziabad Development Authority is now constructing a new ring road, also to be called Northern Peripheral Road. This will start from NH 24 near Dasna toll, move towards NH 58, connect the Pipeline Road, Hindon Air Force station and culminate at Delhi’s Wazirabad Bridge. This is a six-lane ring road sanctioned under the PPP mode, 13 major bidders from the country are bidding for this project, including one from Mumbai and one international bidder from Oman.

According to reports, at least Rs. 200 crore is being spent on land acquisition for the Northern Periphery Road. In this case land is being bought by Ghaziabad Development Authority and the construction of the road will cost at least Rs. 500 crore. This means that from then on anybody can enter Delhi and cross over this stretch in just about 25 minutes. This stretch will be on an embankment and not on the ground like NH24.

Developers are naturally elated with the prospects of the stretch and they believe the emergence of NH 24 as the new growth corridor will revive the real estate market across the Delhi-NCR region. Gaurav Gupta, Secretary General, Raj Nagar Extension Association and Managing Director of SG Estates says not very long ago considered a hinterland, the whole stretch has transformed into a significant realty growth corridor. The area has excellent connectivity with Ghaziabad, Raj Nagar Extension, Noida and Delhi; making it the next promising destination for end users.

“This stretch promises a lot for customers who are looking for an affordable house. Many developers are coming up with projects on this stretch to meet the burgeoning demand of the middle-class buyers. The best thing about this location is the buyers have a bouquet of options to choose as per their pocket convenience. These options are very few in places like Gurgaon and Noida. The location has a good potential owing to proximity to Delhi along with superlative highway connectivity which is the impetus for demand for the end-users. Places like Kaushambi, Crossings Republik etc, have recorded manifold price appreciation due to their connectivity with NH-24,” says Gupta.

Navneet Bhadla, Director of Brys Group says real estate is by and large sentiment driven and naturally when the developers and the buyers find that there is intent of the government to take the region to fast forward mode of development then it has a chain effect on the prospect of the entire market in and around. According to her, NH 24 is also the lifeline of many small and medium enterprises (SMEs) and the big ticket corporate entry of late clearly indicates the region has become a traction point for the developers.

“After all, NH 24 is connecting the entire east coast region of Delhi-NCR and the proposed plans augur well for the sector and overall economy of the region. I have always maintained that development along the highways that cater to many micro markets in and around is the way forward to revive the real estate market which will eventually contribute to the revival of the economy of the region. Having said this, let me add here that there are very few highways that has as good promises & prospects as the NH24,” explains Bhadla.

Locations like Indirapuram and Crossings Republik are ideal locations along the stretch of NH 24 for those who want affordable houses while working in the major business destinations of Delhi-NCR. As of now, it has well connected access to Delhi and Noida. The Northern Periphery Road will further connect it to Gurgaon as well. And that makes areas in and around NH 24 an ideal location with affordable housing options galore.

Whitefield – Bangalore’s IT boom area

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By: Juggy Marwaha, Managing Director – South, JLL India

Juggy Marwaha JLL, India real estate news, Indian realty news, India property market, Indian housing, Track2Media Research, Track2RealtyTrack2Realty: The IT/ITeS sector continues to be a dominant growth driver for Bangalore, and some areas stand out from the rest as far as the impact of this sector is concerned. Whitefield in the eastern part of Bangalore is one such area. Whitefield was an early settlement in Bangalore and remained a quaint little suburb till the 2000s, when Bangalore’s IT boom reshaped Whitefield into a major suburb.

Whitefield is a burgeoning micro-market which has turned into a self-sustaining area over time. The growth story of this location was scripted in the early 2000s, when the IT boom of Bangalore reshaped Whitefield as a major suburb. It is now one of the most sought-after real estate localities in the country. Over the next 24 months, it will be excellently connected to other key parts of the city by the ‘Namma’ Metro. 

This micro-market is progressively developing into a standalone microcosm, with adequate social infrastructure already in place and even more coming up rapidly.

Known for its scenic beauty with lush green trees, Whitefield has high-grade international schools and good hospitals are also being set up. It now has a number of outstanding residential projects by famous developers to offer. The area enjoys superlative connectivity to Bangalore’s various business districts and is now a very hot location for both property investors and end-users.

In addition to – and perhaps because of – the significant IT influence in Whitefield, the presence of good social infrastructure, rapidly developing physical infrastructure and top-quality educational institutions in the vicinity make Whitefield a highly desirable location in all respects. For home seekers in Bangalore, this area is a regular treasure-trove of attractions. Whitefield has a host of option such as gated communities, villas and high-end apartments to choose from.

Developers in this area offer quality housing across all verticals, with the supply geared squarely at buyers from the IT and industrial sectors. Whitefield has been seeing consistent annualized appreciation to the tune of 11-14%, which has been even higher in the case of select projects with superior specifications and amenities.

This micro-market is also one of the most preferred rental destinations for the cosmopolitan work force in Bangalore, again because of its proximity to major IT centres and the availability of educational institutions.

In terms of retail real estate, Whitefield has Brookefield – a bustling high street which primarily houses national and international restaurants. Forum Value Mall, being one of the first malls in the area caters to customers who want to shop at discount stores within a mall environment. Other malls in the area are Park Square, which typically caters to ITP staff on weekdays, Inorbit Mall, Cosmos Mall and the newly launched Market City.

Market City, being one of the newest malls in Whitefield, not only attracts customers from within the immediate catchment and the nearby areas but also from central and south Bangalore because of the wide range of specialty retailers and quality dining options it offers. Other upcoming malls in this area will be supplied by Virtuous Reality and Prestige Developers.

While Whitefield is rated as one of the topmost emerging tech hubs in Asia, it is admittedly not entirely free of challenges. With over 700 industries, IT parks, malls, international schools and residential spaces jostling for space in this corridor, increased pollution and rush-hour traffic are areas for concern. However, the Metro rail line extending up to Whitefield in its second phase and improving infrastructure such as flyovers, the Outer Ring road (ORR) and the 8-lane Peripheral Ring road will connect Whitefield to other major roads, and be instrumental in easing the situation considerably.

In the meantime, the relentless rush for properties in Whitefield continues unabated, ensuring its viability as one of Bangalore’s hottest real estate investment destinations for some time to come.

A buyer’s guide to green homes in India

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By: Juggy Marwaha, Managing Director – South, JLL India

Juggy Marwaha JLL, India real estate news, Indian realty news, India property market, Indian housing, Track2Media Research, Track2RealtyTrack2Realty: The tremendous rate of real estate development across the globe, and especially young, emerging nations, is imposing immense pressure on the environment and its natural resources. With such a rapid development, there is a lot at stake when we look at important factors such as energy availability and environmental sustainability.

The real estate sector is one of the major contributors to global warming due to the extensive pollution during the construction process as well as emission of greenhouse gases during the lifecycle of the resultant buildings. On an average, buildings consume about 20% of the total energy available in a country, and this trend is increasing with every passing day.

Mounting concern for the environmental impact of real estate has necessitated the formulation of sustainable solutions. This has led to the advent of the sustainable real estate and related ‘green homes’ concepts. At its basis, sustainable real estate is all about using resources sustainably and addressing the demands of the present without compromising the ability of future generations to meet their own needs. 

Green housing or eco-friendly homes are an integrated approach towards minimizing the adverse effects of construction and its operation on the environment and promoting healthier living for people. It has been extensively  documented that living in conventional buildings has been working against residents, both in terms of living standards and the costs of excessive energy consumption.

The process that governs eco-friendly homes is limiting the use of scarce resources such as water, energy and materials used during construction and occupation. The idea is to incorporate features that make the most of natural resources such as light and water while reducing heat gain and improving the quality of indoor air. Green buildings not only enhance quality of life but also reduce the cost of living, as these buildings involve significantly lower consumption of energy, water and other resources. 

Constraints to faster growth

The first and foremost constraint for the proliferation of green buildings in India is the lack of information and incorrect perceptions. It is generally believed that green buildings cost more and take a long time to pay back in tangible energy savings. Such a perception leads to lower demand levels from the larger buyer base. In fact, the additional cost factor is rapidly reducing as more and more developers get into the ‘green homes’ arena, since there is increased competition. Also, green homes result in significantly reduced utilities bills right from the start. 

Also, many developers are deterred from adopting the ‘green mantra’ in their projects because green buildings may involve increased construction costs. They may also find it challenging to obtain the necessary technologies, source green building materials and find appropriately qualified architects and contractors in India. Nevertheless, developers are aware that the ‘green wave’ is catching the fancy of more and more home buyers in India and want to get on the bandwagon. Unfortunately, this has resulted in a lot of residential projects which project themselves as ‘green’ without adhering to all the mandatory parameters or having obtained the necessary certification.

Know what to look for

The overall benefits of green buildings depend on the extent to which sustainable features are included during the initial planning and design. In some cases, such features can also be incorporated after the building is complete. But the point is that a few green features do not qualify a building as environmentally sustainable. 

Because of the increasing interest in this concept by home buyers, many developers have begun promoting projects under the banner of ‘eco-friendly homes’. While many of these projects are indeed accordingly certified by competent authorities, others are merely seeking to get on a popular bandwagon without actually delivering the goods.

To ensure that a genuinely ‘green’ residential project is not mistaken for one of the many wannabes, it is important for their developer to obtain accreditation from the green rating systems followed in India. GRIHA (Green Rating for Integrated Habitat Assessment) is one such system which verifies all that a building has adhered to all the prescribed parameters, and that the materials and processes have been used at every stage of construction. Once all the requirements are met, the project is credited as a ‘Green Building’.

 Check list for green home buyers:

 ·         Does the project offer ready access to public transportation so as to reduce the need for private transport?

·      Does it use have fixtures that facilitate lower water consumption, and are the systems and fixtures used in common area lighting systems certified as energy-efficient?

·         Does it use solar water heaters and have sewage treatment plants, rain water harvesting and water recycling/reuse features?

·         Does it feature natural ventilation so as to reduce the need for air conditioning?

·         Does it have adequate open spaces and green areas?

·         Does it offer covered car parking?

·         Does it have sustainable waste disposal features?