Gurgaon has witnessed an unprecedented growth in the last 10 years following the IT and ITES revolution in the country. It has emerged as India's outsourcing capital. It has become such a popular destination for the commercial real estate that the rentals here have gone up almost three fold in the last three years -from Rs 40 per square feet/month to Rs 120 per square feet/month at present. Most of the supply in pipeline for the next two years in the commercial space is already booked.

Gurgaon is also known for the retail boom. Some of the prominent established and upcoming retail malls in Gurgaon are Sahara Mall, MGF Mall, DT Mall, Ambi Mall and DLFs Regent Mall. Apart from these, the MD of a real estate consultancy firm, Harinder Singh, says that another 20 odd malls are at various stages of constructions in Gurgaon on Golf course Road, Sohna and MG Road.

Gurgaon and Manesar will account for 20% or 39.08 mn sq ft of the upcoming residential supply till 2009-10.

Gurgaon-Sohna Road and Golf Course Road are the locations where maximum residential supply is projected to come up.

                                                                                                Courtesy:ET dated. 21-03-08

This Week, we answer questions on real estate investment trusts. For investors and builders alike, the trusts offer scope for growth and returns.

How have REITs (Real Estate Investment Trusts fared in other countries, and how do they benefit?

The investment vehicle called REITs opens the option of investing in real estate portfolios to the common man. The concept has been established for decades in the United States and Australia (in case of the latter, under the name LPT, or Liquid Property Trust). Of late, Asia too is beginning to wake up to the potential. Singapore, Malaysia, South Korea and Japan have seen significant success levels with this financial instrument, while Taiwan is still trying to find a workable formula.

What sets REITs apart from other methods of investing in real estate?

REITs are attractive investment vehicles because they have the potential of generating higher yields than stocks and bonds. They are not prone to the kind of fluctuations one typically observes in the stock market and therefore present a higher margin of safety they also generate capital gains and represent a stable income source.

Can you explain the manner in which REITs work?

Fundamentally, a Real Estate Investment Trust (REIT) is an entity dedicated to owning and, in most cases, operating income-producing real estate such as apartments, shopping centres, hotels, offices and warehouses. This means that the company buys, develops, manages and sells real estate assets with the purpose of inviting investors to put their money into a professionally managed portfolio of properties. Investors are also given a tax exemption opportunity at the corporate level. In some cases, such an entity may even finance real estate. REITs is particularly an attractive option to retail investors because it offers higher returns than fixed deposit rates. They represent a diversified portfolio of assets at low investments. A REIT can serve as the ultimate landlord of select rented properties.

Will REITs work as well in India as in other countries?

REITs are yet to be proven a workable concept in India. As of now, there is no policy pertaining to the formation of REITs in this country any proposal to establish them will have to be placed before SEBI (Securities Exchange Board of India) for approval. This body will evaluate each proposal, and considering the immense potential, it stands to reason that a number of approvals will finally come through.

Assuming that they will launch in India, on which sectors will REITs focus?

REITs will concentrate on the following property market areas:

      Commercial: Offices and Parks

      Hospitality: Hotels, Leisure and Healthcare

      Retail: Large Malls

      Industrial

      Mixed use development sites, including residential

However, it should not be assumed that the introduction of REITs would result in availability of instant wealth-building instrument for investors. The product will be unfamiliar for most, and a long period of trial and error will precede the first REITs-related success stories in India.

Can anyone build wealth through REITs?

Maximizing profits through REITs calls for intelligent portfolio diversification a lot depends on the format that REITs take in India. To generate good financial returns, the entity will have to own a high-quality investment portfolio. Ideally, it will operate in several metropolitan and secondary cities. The returns will begin to flow when the company manages to partner and complete several large quality developments and maintain the quality of portfolio components.

If and when REITs become a part of the Indian investment scenario, it will provide significant advantages to investors. The returns are passed on to the investor regularly, and there is next to no scope for bureaucratic ambiguity in the process. This is in direct contrast to the pitfalls inherent in direct investment in real estate. The REITs vehicle will ease the process of investing in a healthily diversified real estate portfolio and make it a realistic option for lay investors and professionals alike. REITs will also serve as a significant market stabilizer in the medium to long term.

                                                                                    Courtesy: HT March 17, 2008

That Tier II and III cities are the next big thing in real estate is fast becoming an accepted fact. For instance, Delhi-based realty developer, Ansal API recently announced a luxury township in Haryana’s Kurukshetra area called Sushant City. Located on National Highway-1, the township is spread over an area of 200 acres and includes malls, local shopping canters. Schools, hospitals. Jogging tracks. Parks, a club und a community centre.

                                                                                    Courtesy: HT March 17, 2008

Rising incomes, easy financing and population growth are driving demand for housing and luring overseas investors to India, says a new report by Ernst and Young. It puts the worth of the Indian real estate market at $12 billion (Rs 48,000 crore) and pegs the annual growth rate at 30 per Com. The report, commissioned by the Federation of Indian Chambers of Commerce and Industry, also says that India will have at least 50 property-related initial public offerings in the next year as the real estate industry booms

                                                                                    Courtesy: HT March 17, 2008

New Delhi: The Government is not considering any proposal to allow foreign direct investment {FDI} in retail sector, Agriculture Minister Sharad Pawar said today. “There is no proposal to allow FDI in retail {and} Government is not thinking of it because it wants to protect the interest of retailers” he said replying to supplementaries during Question Hour in Rajya Sabha

                                                                   Courtesy: HT March 15, 2008

New Delhi:Real estate firm rahrja Developers has outlined an investment of Rs 5000 crore to set up a 257 acre engineering SEZ at Gurgaon. The SEZ has been notified by the government and the first phase of the project is expected to be completed in the next five years, Raheja Developers Managing Director Navin Raheja said. The project would be developed through a Special Purpose Vehicle and funded through internal accruals, debt and equity. Raheja said the company is planning to list the SPV in the next one year and dilute 26 per cent stake.

                                                                        Courtesy: HT March 15, 2008

Here are some of the factors that have a bearing on an individual’s eligibility for a home loan

There are a number of factors that have a bearing on eligibility for a housing loan. The banks have their own criteria to determine the eligibility and quantum of housing loan. The banks have their own criteria to determine the eligibility and quantum of housing loan. It would do well for borrower to be aware of some such factors.

   To begin with, it is the information on the application from. The information submitted in the application from by the individual is verified from various primary and secondary sources-through interviews, calling up the employer, verifying from the database. In case of wrong information or inconsistencies, the loan application is liable to be rejected.

   The financial strength of an individual is an important determinant. The loan eligibility as well as the repayment capacity depends on the financial position of the borrower. His income level, net income, liabilities determine the amount of loan he is eligible for. The requirements include a particular minimum income or a fixed and certain source of borrower also plays an important role. Usually, the lenders maintain a database of borrowers and verify the credit history to check for previous repayment defaults, even from other lenders.

   The personal profile of the individual I also important. These include factors like educational qualification, profession, number of dependents, assets owned, liabilities owed, savings history etc. A higher number of dependents or existing liabilities implies lower repayment capacity. The individual’s age plays a major role to determine earning life, and the life-cycle stage at which the individual is in. in case the property is co-owned; the co-owner cannot be a minor. Also, the coowner cannot be above a certain age limit. The age limits are set to minimize ownership disputes. The age limit also affects the tenure of the home loan and EMIs. The applicant’s retirement age is also considered. For example, if the applicant is 45 years of age and is set to retire at 60 years, the maximum loan tenure available will be 15 years. Also, in case the bank has a 75 year ge limit for a co-applicant, if the applicant is 40 years old and the co-applicant is 60 years old, then the home loan will be sanctioned for a maximum period of 15 years only.

   The reputation of the builder also counts. Each bank has a list of pre-approved builders. Their credentials are already verified by the bank and as such loans are easily available for their properties.

   Location of property also affects the eligibility. Bank have specific norms with respect to a minimum area of a flat too. This may be built-up area or carpet area. The age of the property is also an important consideration in case of purchase of existing properties. Home loans on resale properties are sanctioned only if they are less than 50 years old.

   Banks conduct legal and technical appraisal of the property to see whether the title of the property is clear, there are no ownership disputes, the property is free from any encumbrances etc. in case there are any objection in these appraisals, and the loan application is bound to be turned down. 

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                                                            Courtesy: ET REALITY dated March 14, 2008

If you are a resident of a Delhi Development Authority (DDA) colony anywhere in Delhi, be it Sarita Vihar, Saket, Mayur Vihar, Janakpuri, or Ashok Vihar, you will surely find DDA's comprehensive developmental activities.

Recently, Delhi Development Authority (DDA) announced its budget for the financial year 2008-09 on Friday and approved revised budget estimates for the year 2007-08. Expenditure for the year 2008-09 has been projected as Rs. 3,622.6 crore as compared to Rs. 2,309.08 crore in the revised estimates for the year 2007-08. Under the new budget, areas like Rohini, Dwarka, Narela, Dheerpur, Jasola and Bakkarwala will see an increase in the expenditure on development work like housing for economically weaker sections (EWS) and village redevelopment.

For almost five decades now, DDA has played a crucial role in providing more than a million houses to the people of Delhi, housing about half the population of the national capital. DDA has been constructing as well as facilitating the construction of some 10.80 lakh dwelling units in Delhi, according to the requirements and purchasing capacity of people, especially those from the lowest strata of society.

Future and ongoing plans include a pilot project on public-private participation at Tehkhand in South Delhi -- which envisages construction of 750 higher income group flats and 3,000 units under the Economically Weaker Section scheme. The project assumes significance, for it would pave the way for public-private participating in such similar ventures across the Capital.

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Courtesy: HT 13.03.08

India on Wednesday set out conditions for automatic approval of 100 per cent foreign investments in industrial parks. Such parks would have to house a minimum of 10 industrial units and at least 66 per cent of their developed area would have to be allocated for industrial activity, a trade ministry note said. No single unit could occupy more than half of the allocable area, the note added. If these conditions were met, investors would not need to conform to guidelines on minimum investment and minimum area developed, which are applicable for housing, commercial and regional infrastructure projects, it said.

 Courtesy: HT 13.03.08

The government is all set to bring in a law to regulate the booming real estate sector in Delhi that could be model for the rest of the country, minister for urban development Jaipal Reddy told the Rajya Sabha.

Industrial upgrade

The commerce ministry has approved six industry clusters worth Rs 373 crore under the Industrial Infrastructure Upgradation, Scheme, out of which Rs 247 crore will be in the form of the central government’s grant.

Industrial growth

The latest government data on industrial growth has painted a gloomy picture but economic think-thank Center for Monitoring Indian Economy (CMIE) says all is not lost and has pegged the expansion at 10.4 per cent for fiscal 2009.

Courtsey: Bus.Sandard March 14 2008

Noida: In the biggest land deal in the country, a consortium led by Delhi-based Business Parks and Town Planners {BPTP} on Tuesday bagged a 95-acre commercial plot in Noida Sector 94 for a mind-boggling Rs 5,006 crore from the Noida authority.

   The price per square meter in the deal – clinched after sealed bids were submitted – comes to Rs 1, 30, 207, or Rs 52.69 crore per acre. The next highest bid for the site was Rs 1, 17,000/sqm by DLF and the third highest, Rs 80,000, by Omaxe. Ansal Properties and Infrastructure was earlier disqualified in the technical bid. According to a Noida authority spokesman, the permitted floor area ratio for development of the site will only be two. Only an area of 8.2 million sq ft will be allowed to develop. At this rate, the per sq ft construction right has cost BPTP a whopping Rs 6,100.

   The astronomical amount paid for the site is a clear indication that, in terms of sentiment, there is no downturn in the real estate sector It also points to Noida emerging as an alternative to Delhi and Gurgaon for office space. At present, office rentals in Delhi’s high class areas range between Rs 200 to Rs 350 per sq ft. In Gurgaon, it varies between Rs 80 and Rs 120 per sq ft. As against this, rentals in Noida are in the range of 40-60 per sq ft. This has made Noida an attractive destination for commercial space in NCR. In the previous biggest land deal in Noida, Unitech had walked off with an approximately 340-avre residential plot for Rs 1,582.83 crore.

NOIDA SITE IS STRATEGICALLY LOCATED

Noida: the proposed commercial complex in Noida Sector 94, which attracted mind-boggling Rs 5,006 crore, is strategically located close to Delhi. It will be around 16 km from Connaught Place and around 10 km from south Delhi via the DND flyover.

According to Kabul Chawla, chief of Business Parks and Town Planners {BPTP}, a company which has considerable real estate interests in Faridabad, Gurgaon and Hyderabad, “We will ensure that this become the country’s most prestigious commercial complex. And, we are already in touch with planners and consultants like Norman Foster, for hotels, commercial complexes and financial hubs.”

Courtesy: TOI dtd 12-3-08

Kolkata: LAND rates for big ticket IT ventures have scaled a new peak in Kolkata’s Tech town, Salt Lake. In one of the biggest city property deals in recent times, a consortium of South City Projects and Merlin Group has shelled out a whopping Rs 143 crore to KMDA to acquire a prized 4.3-acre plot in the Salt Lake Electronic Complex (Saltec) to develop an IT logistics center. This pegs the deal size at an unprecedented Rs 33.33 crore per acre. Government sources confirmed that it’s the highest payout for project land in north 24 Parganas,which is a reflection of booming reality prices for IT projects.

The South City-Merlin deal supersedes the Rs 27-crore per acre shelled out by DLF Hilton for its city hotels. And it is merely a shade below the Rs 33.81-crore per acre that Dubai-based Emaar MGF forked out for a 6.24-acre-plot on the EM bypass to set up premium hotels.

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                                                                                    Courtesy: ET March 9, 2008           

Reality major Sobha Developer (SDL) will commence construction of its first presidential villas project –Sobha Lifestyle-at Devanahalli in Banglore with an investment of around Rs 260 crore over to years. SDL has partnered with Banglore-based reality firm Renaissance Holdings, which owns the land parcel, for the project.

Currently, SDL has about 12 million sq ft under construction projects across the country -95% of which is in the residential space. “The next fiscal (2008-09) will see the company start a host of project across segments to develop an additional 12 million sq ft. The cumulative investment into these projects is estimated at over Rs 2000 crore,” said Sobha Developers managing directors J C Sharma. At present, the cost of development stands at Rs 1,700 per sq ft, he added. Of the 12-milion sq ft, 4million sq ft will be in the commercial, hospitality and retail spaces and 8 million sq ft in residential development. The company will begin work on the 3-million sq ft Sobha Global Mall in Banglore (Minerva Mills property) and a 4-lakh sq ft Mall in Mysore apart from two hotel projects in Banglore. All projects, according to Mr Sharma,will be funded through a mix of pre-sales, debt and internal accruals.  

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Courtesy: ET March 9, 2008

After DLF and UB, Parsavnath, Ansal , APL and MBD Group are firming up plans for niche luxury malls in metro. Real estate players are tired of being mall rats. So, it's luxury malls that are now hogging the limelight. After DLF and UB Group's foray into the luxury retail segment, other players such as Parsvnath, Ansal API and MBD Group are firming up plans for niche luxury malls in metro cities. Besides housing top-of-the line luxury brands such as Armani, Mont Blanc, Gucci, Ferragamo, Jimmy Coho and Louis Vuitton, the malls will also have features such as amphitheatres, opera shows, in-shop dining and rooftop helipads to attract the umber-rich.

Real estate major Parsvnath Developers plans to build luxury malls in the top metro cities. Parsvnath chairman Pradeep Jain confirmed the development to ET. "We will announce plans this financial year and are looking only at metros. There is a pressing need for luxury malls in capital cities and their demand is huge. Moreover, luxury retailers are also keen to enter India through a tie-up. The timing is just right for luxury malls in India." Agrees Kunal Banerji, president, marketing, Ansal API, "We do have luxury malls on our agenda. With the burgeoning economy, it is quite clear that such niche malls do have a strong market in India. We have already announced a project in Greater Noida and eventually we will look at markets like Mumbai and Delhi as well."

Earlier, five-star hotels were home to luxury brands, both hospitality and luxury brands are now moving to mall. MBD Group is coming up with a luxury mall, Zephyr, which will also have a 450-room luxury hotel in Bangalore. Some of the key features of the mall will be wine cellars, art auctions, fashion previews, opera, in-shop dining (a la in-room dining concept of five-star hotels) and outdoor theatre. The mall will be operational by the end of 2010. The group is also looking at developing luxury malls in Hyderabad, Chennai, Delhi and Mumbai. "The long-term success of luxury malls will depend on the kind of pre and post shopping experience that they provide and not just on luxury brands that they house," says Sonica Malhotra, executive director, MBD Group. The mall will have luxury automobile players such as Porsche, Rolls Royce and Lamborghini.

According to industry estimates, for a standard mall, the cost of construction is around Rs 2,200 and that of interiors is Rs 1,200-1500 per square foot. On the other hand, for a luxury mall the cost of construction is Rs 2,800 per square foot and that of interiors Rs 3,500 per sq ft, almost double of a standard mall.

India's largest real estate developer DLF, which rolled out its plans of luxury mall, Emporia, almost two-and-a-half year's back, is bullish about the luxury retail market in India. "Luxury brands have good potential in India. The product has to be one that offers a mix reflective of class, economic status and ambience. We will be looking at metros and super metros in the near future to build more such luxury one-stop destinations with the best names in the market," asserts Rajeev Talwar, group executive director, DLF. UB Group's luxury mall, The Collection, located in UB city in Bangalore, is scheduled to start operations this year. It will house brands such as Louis Vuitton, Salvatore Ferragamo, Canali, Rolex, Omega, Dunhill, Mont Blanc, Zegna, Gucci and Kimaya.

Courtesy: ET  March 7, 2008

HOMES ARE 3 TIMES MORE AFFORDABLE TODAY THAN THEY WERE 10 YEARS AGO: HDFC’S MISTRY.

The absence of exotic, complex home loans have helped stave off a sub prime like crisis in India, according to HDFC managing director Keki Mistry.

“There are several reasons why India has been shielded from the sub prime crisis. Indian borrowers are typically debtaverse and cautious, simple plain vanilla home loans are offered and not exotic complex products, the loan-to-value ratios are conservative, the securitisation and structured product market is still in a nascent stage and the central bank has been vigilant and has taken pre-emptive measures to prevent asset bubbles,” said Mr Mistry, in his speech at the Corenet Global Summit this week.

Quality of mortgage assets worldwide has come into focus, following the sub prime crisis in the US. In India, home loans have been growing at over 30% for 3-4 years on the back of increase in the number of borrowers and a sharp rise in property values. In the US, the sub prime crisis was triggered by aggressive lenders, extending uniquely structure loans where repayments were backended against equated monthly installments (EMIs) in India.

Moreover, loans were provided to even those without adequate income against the security of the property. These loans turned bad when the borrowers could not repay and the property values fell. Mr Mistry pointed out that although the housing shortage indicated that owning their home was beyond the reach of many, affordability had increased three-fold in the last 10 years.

“Compared to, say, about 10 years ago, where it took close to 15 times one’s annual income to buy a home in a Mumbai suburb, today this ratio has come down to 4.9 times. But the key reason why affordability has improved is due to a substantial rise in incomes, as job opportunities have increased manifold. Other factors that have contributed to increased affordability are relatively stable and moderate interest rates and tax incentives.” He added that as a result of rising incomes today, the average age of a person availing a housing loan is in the mid-30s. Despite a healthy supply of residential accommodation, especially in tier-II cities, the strong demand has ensured a healthy price appreciation across the country, said Mr Mistry.

He added that some areas that saw an extraordinary run-up in prices include places like Gurgaon, Noida and Whitefield in Bangalore. Parts of Pune and Mumbai have seen a correction recently. “The important thing about the residential real estate sector in India is that most of the end users are genuine. In fact, most are first time home buyers. Today, I believe speculators in the residential markets are not prominent,” he said.

Courtesy-: ET 7 March, 2008

Knowledge parks, software parks & SEZs are now passé, as the Greater Noida Industrial Development Authority (GNIDA) now plans to develop, what will probably be the country's first Financial Park. To be spread over an area of 100 acre, the park apart from housing companies from financial services sector (insurance, banking, brokerage, asset management, consulting) will also boast of a stock exchange at a later stage.

 "The initiative is part of developing Greater Noida as a future city. We have asked in-house consultants to prepare a project report. The report has already been documented and sent to the authority. It is expected to be formalized within a period of one month," GNIDA chairman Lalit Srivastava told ET.

The GNIDA intends to earmark over Rs 50 crore for land development purpose. "Currently, we are in the process of inviting all financial companies and regulators. The land will be allocated to the interested parties through a biding process," disclosed Mr Srivastava.

Further, a confessionals rate is expected to be offered by the GNIDA for development

 and creation of required facilities at the proposed site. "This is so because each financial firm will require a different set up specific to their needs," he explained.

Though the GNIDA hasn't finalised the location, Mr Srivastava said that it will be somewhere Saurabh Deb enroots the planned road that will connect sector-62 with Greater Noida. "We are constructing a 130 meter road which will connect it to the proposed site," he said. As far as the exchange is concerned, Mr Srivastava clarified that it could depend upon the regulator; however, a small & medium enterprise exchange cannot be ruled out. The initiative to develop a financial hub at Greater Noida is yet another attempt of GNIDA to be at par with the best cities in the world. The GNIDA already follows an Ecotech concept, as part of which only zero pollution industries are allowed to set up office in the city. Companies such as Honda Sale, LG, Pepsi, Denso India, Yamaha, Moser Baer and Videocon already have a presence in the city.

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                                                                                Courtesy Friday 7^th March E.T, 2008

Unitech, the country's second largest realty firm, has bagged two real estate projects in Hyderabad that it would develop over the next eight years at an investment of about Rs. 9,000 crore. According to sources, the company has bagged a mixed use project located at Budvel from Hyderabad Urban Development Authority (HUDA) for development of residential, commercial and retail space over 164 acre of land. The total investment on this project would be Rs 3,000 crore, including about Rs 664 crore for land, they added. 

Unitech has also bagged a project from Andhra Pradesh Industrial Infrastructure Development Corporation Ltd (APIIDC) to develop an integrated airport township in Hyderabad on public-private partnership.

Gurgaon, the fading dream of a Millennium city, is battling a power crisis that has seen power cuts up to 12 hours in winter. And now with summer on us, there is a mad scramble for inyerters and generators, an expensive proposition besides being unfriendly to the environment.

   Sixty-two-year-old  Vijay Malhotra, a resident of DLF Phase –IV, says living in Gurgaon is a big drain on resources. “We had to buy a generator just a week back –I invested Rs 3 lakh,” he says. “That’s a huge investment besides, I still pay a huge electricity bill. The crisis became so acute last year that my daughter-in-law had to shift to Delhi. I hold the government responsible.”

   Most residents of Gurgaon had moved for a brtter quality of life. They now feel cheated. And what rankles most is the fact the crisis is entirely manmade. That’s the grime below the glitter. Developers have been issued licences at random and even the severe power crunch has not deterred the government from mocking the people by clearing a master plan to enlarge Gurgaon to three times its present size. Most plans for setting up plants have a 2009-2010 deadline and hold little hope for those who are now cursing they moved to Gurgaon.

   There is going to be more growth without infrastructure till the city bloats to a point of collapse, people say. And officials are aware of this. They have thrown up their hands after pointing out that the demand for power in Gurgaon is increasing by 28% and availability is much less than requirement.

   “The combined electricity requirement of Gurgaon and Faridabad is equivalent to the total power demand of Himachal Pradesh and meeting that demand is a huge task,” says Dakshin Haryana Bijli Vitaran Nigam {DHBVN} managing director vijayendra Kumar.” We are hopeful of getting at least 500 MW for entire Haryana in the next three months from the Yamuna Nagar plant. That additional supply will bring some relief to urban areas.”

   “The major cause of the crisis is nonavilability of power. The present demand of Gurgaon is 1.2 crore units a day and we get only 75 lakh units,” explains superintending engineer A K Jain of the Nigam. “Additional supply from Yamuna Nagar should bring some relief.”

   Haryana has about 4,068 MW of power avilable daily of which it generates only 1,587 MW. The state wants to generate an additional 5,000 MW daily by 2010 but that,s three years away. In the first phase, a 300-MW capacity unit has become operational in Yamuna Nagar and a second unit of same capacity will be synchronised this month. How this power is distributed remains to be seen with many political and farm lobbies at work.

   About 1,200 MW will be made ayilable from the hissar thermal power plant. The first unit of 600 MW will be operationl in December 2009 and the second in March 2010. the state will also get 750 MW state will also get 750 MW from the upcoming 1500 MW Aravali plant in Jhajjar. The three units -------each of 500 MW---------- are scheduled to be completed in April, June and August of 2010.

   So, there is no immediate relief in sigh and all hopes for now are pinned on the supply from the Yamuna Nagar plant. Official estimastes show that during non-peak hours Gurgaon’s power demand peak hours it’s about 550 MW. At any given time, the power supply falls short by least 100 MW.

   In the neighbouring capital of Delhi, there are only two categories of power consumers -----domestic and non-domestic {commercial and industrial}. But in Gurgaon, there are three----agricultural,domestic and non-domestic.

The agriculture sector consumes 20-25% of the power aailable,domestic consumers another 40%.

Consumers hae learnt the hard way not trust officials.”We had a tough time een during the winter and then they had said that only winter rain could bring some relief. They will come up with some other excuse to pass the buck. Actually, they are clueless and don’t know how to deal with the situation,” says BS Tripathy, a resident of  Sector-23.

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 Courtesy:Times City Tuesday march 4 ,2008

The number of vehicle on Delhi’s roads is s staggering 51 lakh and five lakh more get added every year. In the long run a good integrated mass public transport system is the answer to traffic chaos and parking woes, but multi-level automated parking lots arebeing seen as the feasible mid term solution. The NDMC has started construction work on three automated multi-level parking lots while MCD has started work on one in Kamla Nagar and expects to commission work at four south Delhi commercial hubs by January. Here is a glimpse of how easy parking will get in the next two years in Connaught Place, Sarojini Nagar , Lajpat Nagar , Defence Colony and Greater Kailash.

The desperate search of parking slots before dashing in for important office meetings and fights with parking lot attendants may become a thing of the past once the automated parking lots at Kasturba Gandhi Marg and Baba Khadak Singh Marg opposite state emporia complex become operational.

The parking lots that will look like malls are expected to be ready in two years’time.

The NDMC is constructing three parking lots (Baba Khadak Singh Marg, Sarojini Nagar and Kasturba Gandhi Marg) as part of the infrastructure augmentation plan for Commonwealth Games 2010. Two floors in each of these buildings will have shopping areas and retail in keeping with Master Plan 2021 provision that permit commercial use of up to 25 per cent in multi-level parking lots. Director Projects, NDMC Anurag Goyal said the drivers will just have to drive into the lobby and leave their car there.

The cars will be hauled up with elevator shafts that will push the car into vacant slots.

The cars are then placed on metallic plates and arranged in racks that can move up and down and sideways so that  the slots nearest to the elevators are available for depositing new arrivals. The whole system is electronically controlled.

The car can be retrieved within three minutes of punching or swiping the receiver with a smart card. The rotating floor in the lobby will turn the car and make it possible to drive away without reversing the car.

The spokesperson of DS Constructions that has undertaken the construction of the 14 storey high parking lot behind the Hindustan Times building, said that the existing surface parking could accommodate approximately 350 cars only. “ Once the new structure is completed, as many as 1,600 cars can be parked inside it. The capacity will take care of the needs of the next thirty years, the period during which the builder will maintain the parking lot before it is transferred to then municipality,” he said.

The parking ticket cost will remain Rs 10 per hour, NDMC officials said while adding that rates cannot be so steep that people stop using the lots. There will be separate parking bays for the physically handicapped and elderly persons. There will be multiple entry points and the parking lot available at the nearest entry point is indicated when a person drives in, the developers said. The payment can be made at the ticketing booth at the exit point where the operator will indicate the toll to be paid.

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Courtecy:HT ESTATES 12 January 2008

NOIDA, the largest industrial town in Asia, has apartments and duplexes to cater to the locals and the housing demands of booth the locals and the NRIs, says Rai Umaraopati Ray.

   New Okhla Industrial Development Authority, or NOIDA, was development in the 1970s a a modern industrial city under the UP Industrial Area Development Act, 1976 Three decades old, the region today boasts of a complete makeover and looks nothing like the outcaste, infrastructurallyweak city it once was. Industrially, NOIDA was, since conception, an advanced town, but what has left the country dazed is the frenzied pace at which development in its residential and entertainment sector has taken place, providing further impetus to its industrial growth.

   REAPING PROFITS

“I have been living in london for last 30 years and it was sometime in early 1980 that I purchased a piece of land in NOIDA for some Rs 2 lakh. That piece of land, which was bought merely as an investment option, today stands at Rs 3 crore and is perhaps the  simply unbelievable and I am sure there must be many like me who are now reaping the benefits of once investing in this barren land,” says Vinod Shukla, an NRI who is planning to settle in NOIDA.

  FULFILLING DEMANDS

 It was perhaps the industrial development in NOIDA that led many people to buy houses there and tapping upon this burgeoning demand, the builders turned sand into gold. In fac t, owing to extensive property development, NOIDA, the largest industrial town in Asia, has apartments and duplexes to cater to the housing demands of both the locals and the NRIs. Many corporates are setting base in the region and the manpower working in these have made NOIDA their abode. Numberous MNCs and industries are attracting the youth from all over, resulting in sky-rocketing rates of rented accommodation. Owing to the influx of many working professionals, in NOIDA, the demand for flats and apartments has encouraged home builders to construct plush residential colonies and carry out swanky real estate development in NOIDA.

Alok Sinha, who has been a part of the NOIDA realty development for almost a decade now, is puite proud of the develoment this region has witnessed in the last few years. “Noida was a barren land with just a few industries to its credit, but today, people from Delhi and other NCR town come here to look for some posh entertainment option. The infrastructure has improved, the roads are broad and maintained, the water supply is getting better and a lot of institution and industries have come up. The NOIDA of the yesteryears is history,” says this real-estate veteran.

   ADDING FEATHERS

   NOIDA today is an important constituent of the national Capital Region as it boasts of some of the most magnificent malls, architecturally brilliant buildings and lavish flats and apartments with amenities like swimming pools, club house, gymnasiums etc. In fact, projects like Radisson Hotel, along with other hotels in NOIDA, the Waves Cinema, prestigious schools, universities like Amity, and malls which can put international shopping places to shame, are numerous feathers sitting proudly in Noida’s cap.

   NOIDA WAS A BARREN LAND WITH JUST A FEW INDUSTRIES TO ITS CREDIT, BUT TODAY, PEOPLE FROM DELHI AND OTHER NCR TOWNS COME HERE TO LOOK FOR SOME POSH ENTERAINMENT OPTIONS. THE INFRASTRUCTURE HAS IMPROVED, THE ROADS ARE BROAD AND MAINTAINED, THE WATER SUPPLY IS GETTING BETTER AND A LOT OF INSTITUTIONS AND INDUSTRIES HAVE COME UP.

COURTESY:HT ETATES HOMES Friday, February 29, 2008