Monday, 17 October 2016

Title: Book Your Dream House in a Smart City - Faridabad

Faridabad - the largest city in Haryana, made it to the top of the list of smart cities and is quickly turning into a commendable rival in the economic and business sectors in India. It is bound by various important locations like Delhi, Noida, and Gurgaon. Its geographical & infrastructural potential has recently acquired a considerable change in the real estate industry. As per the present real estate market trends, Faridabad stands out amongst the most favored areas for investment. Be it a residential or a commercial project in Faridabad, properties are developing at a much rapid pace and this is a huge opportunity for investors to dive in. Some of them have already begun showing interest to buy flats in Faridabad keeping in mind the same reason. The cost of 4 bhk flats in Faridabad is experiencing a steep rise.

The solid development has empowered Faridabad to rise as a realty hot spot in NCR. The rise of the service division, especially, has added to the development of many residential, commercial & villas in Faridabad. An expansion in the quantity of ventures, both small and medium, has driven economic developments in Faridabad. Top class foundation, luxury living, and nice job opportunities are a portion of the key variables that have added to its list.

Indeed, even the investment properties in Faridabad are at an ascent alongside the purchase of properties in Faridabad. The development in Faridabad can be measured with the quantity of shopping centers, multiplexes, private buildings and business edifices that have developed here. All these make an essence of a hi-tech society for the all who either visit the city or live here.

The city is on the way of turning into a self-managed city with planned business advancements, internationally acclaimed institutions for imparting education, shopping centers, and enterprises being set up. The major factor of shortage of area for business or housing in neighboring urban areas like Gurgaon and Delhi, has become a boon for the city's real estate market. The policies bolster fast industrialization and urbanization, which makes it the most preferred choice for businessmen & investors, regardless of tough rivalry from other modern centres in NCR.

In general, in comparison with the developments in nearby regions of Delhi, we can say that the properties in Faridabad are on the ascent at an exceptionally fast rate and it's the best time to venture in the event that you are wanting to contribute your money some place for prompt benefit.

Omaxe is one of India’s largest real estate developers. Having spread its roots in 8 States across over 27 urban areas, the organization has built a strong & diversified portfolio that incorporates Integrated Townships, Group Housing, Shopping Malls, Office Spaces, SCOs and Hotel ventures.

The meaning of 'Trust' has become a synonym for Omaxe. Throughout the years of successful journey, the organization has made an imprint with some historic projects of designing wonders. With a strong presence in practically every state of India, it stands consistent with its motto of transforming dreams into reality.

100 Mn. Sq. Ft. Delivered!

Friday, 8 July 2016

Redevelopment in Delhi: Time to rope in private players; It will benefit the end users immensely

In the heartening to know that the Union Government is realizing the need for Redevelopment in Delhi. As a baby step towards this end, the cabinet has recently approved redevelopment of various colonies which houses close to 13,000 government employees at an estimated cost of approx Rs 33,000 crore.

With the redevelopment of colonies including Sarojini Nagar, Netaji Nagar, Nauroji Nagar, Kasturba Nagar, Thyagraj Nagar, Srinivaspuri and Mohammadpur, the number of housing units will increase to close to 26,000. It is also expected that with redevelopment, the amenities and facilities will also get a much needed facelift.

However, arbitrary allotment of the entire works of redevelopment either to Public Sector Company or to government department – in this case - National Buildings Construction Corporation Limited (NBCC) and Central Public Works Department (CPWD) is disappointing to say the least.

For no strong rational, the private builders, many of whom enjoy good credibility and track record were not considered for the job. Participation of the private sector ushers in more competition, the beneficiaries of which are ultimately the end users. As a matter of fact many of private players are considered much more efficient compared to government peers, thus, providing the work to government agencies without even considering private sector is bizarre and is an injustice to the enterprising private sector. In fact, such decisions create impediment in the growth of the sector, which is the largest employer after the agriculture sector in the country. It is therefore necessary that for any such work in the future, government should definitely consider the private sector and must not limit the exercise to government agencies only.

Also, considering the rising aspiration of citizens of Delhi, it is paramount that government should allow redevelopment of not just of government colonies but that of entire Delhi. Redevelopment will ensure robust infrastructure, world class sports and recreational facilities, proper sanitation, ample parking, green and open spaces as well as security and safety of citizens of Delhi.

The time is ripe and government must bite the bullet!

Monday, 27 June 2016

Smart city offers smart investment opportunity

Almost a couple of weeks ago, the centre added 13 more cities in the ‘Smart City’ list. The newly included cities are Lucknow, Chandigarh, Faridabad, Warangal, Dharmashala, Raipur, New Town Kolkata, Bhagalpur, Panaji, Port Blair, Imphal, Ranchi and Agartala. It is largely expected that ‘Smart City’ tag will help improve the basic infrastructure in these cities including assured water and power supply, sanitation and solid waste management, efficient transport and IT connectivity among others.

It is also expected that the inclusion will lead to improvement in overall lifestyle, higher level of ‘Urbanization’ not only in the city, but in the close vicinity as well. Health and hygiene is also bound to improve and lots of business development opportunities, particularly in the service sector is also likely to emerge, which in turn will lead to higher employment generation.

All these developments will undoubtedly have a positive impact on city’s real estate potential. And amongst the North Indian cities, the prospects of Lucknow, Chandigarh and Faridabad looks the brightest. According to the quarterly House Price Index (HPI) released by Reserve Bank of India all-India HPI increased to 221.7 in the third quarter 2015-16 from 218.2 in the second quarter of the financial year 2015-16. And it is Lucknow which witnessed the highest increase of 16.1%. With the ‘Smart City’ tag, the sentiments and prices are likely to increase further, particularly in places like Lucknow and Chandigarh.

Thus, if you are planning to buy a property – residential or commercial – the time is apt now. From plots to villas to 2BHK, 3BHK or 4BHK flats, the options galore. The same is the case with commercial projects. The key factor you need to keep in mind is the prospect of the particular area. And it is here that New Chandigarh and Gomtinagar Extension (Lucknow) scores over the other areas in Chandigarh and Lucknow respectively. It is high time – take a smart decision and lead a ‘Smart life’.

Monday, 29 June 2015

"Housing For All"- A Critical Scheme Is Launched

There are other issues too that need to be ironed out. In the past, lack of coordination between the Centre and the States has hindered the progress of such welfare schemes. While housing for all is a national agenda, land is a State issue and needs proper coordination between the Centre and the States.

Here is an insight on the matter by Mr. Mohit Goel CEO Omaxe -

“The launch of three urban rejuvenation schemes (Smart Cities, Atal Mission for Rejuvenation and Urban Transformation (AMRUT) and Housing for All by the Prime Minister today, entailing an investment of approx. Rs 4 lakh crore, will go a long way in providing homes to urban poor, job opportunities, better landscape, upgraded lifestyle, liveable cities and more importantly a fillip to the economy. Also, development of 100 smart cities and push for urban infrastructure upgrade for 500 cities through PPP model will breathe new life in our cities and throw up a lot of opportunities for the real estate which is going through rough patch over the past two years. The ground up approach towards giving a direction to how our cities grow is definitely praiseworthy considering the unorganised and haphazard development that has been happening in our cities. However, the main challenge for state governments and urban local bodies is to get things going by making effective use of huge investments, new technology and innovative methods in rejuvenating our cities. Omaxe’s presence in 8 States across 27 cities gives us the benefit in the huge opportunity that unfolds with these three urban schemes taking firm shape; and we are geared up for this challenge.”