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Indian real estate can evolve into trillion dollar economy

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Globally, real estate development is an important parameter to measure economic growth. If one just looks at the demand for homes in India, the growth potential is huge.

Initiatives by the government, including ‘Housing for All by 2022’ offers major growth potential not just for the sector, but also for economic development and GDP growth.

Indian real estate is the engine which will power the Indian economy into the ‘big league’. From the ancillary industries that it supports to job creation – easily the next in line after agriculture and manufacturing – Indian real estate has the potential to reach the magic figure of ‘trillion dollars’.

Let us look at the route map to achieve this. A KPMG Report released at NAREDCO and APREA’s Real Estate & Infrastructure Investors’ Summit in Mumbai last year stated that the Indian real estate will be a $1 trillion industry by 2030.

This will propel it to being the third largest economy globally – and this growth will be driven by not just the huge demand for homes, but also new and emerging asset classes within real estate, such as affordable housing, co-working spaces, warehousing and logistics, among others.

The ‘grease’, which will ensure this happens easily, is the post-RERA transparent regulatory environment powered by the economic and taxation reforms.

Estimates suggest that from $120 billion in 2017, the sector should grow to $650 billion by 2025. During this period, its contribution to GDP is estimated to go up from the present 7 per cent to 13 per cent.

Even as the new paradigm in post-RERA scenario ensures this does happen, we also need to factor in ground realities that will play a major role.

Infrastructure growth is opening up peripheral areas, as also creating satellite cities, the new growth centres of real estate.

Figures speak for themselves – from an average highways road construction pace of 3 km per day in May 2014, the figure now stands at 27 km per day.

The National Highways, earlier a stretch of 96,000 km, are now in the process of being doubled.

Creating jobs is another aspect where real estate powers the economy, and will help achieve the ‘trillion dollar’ target. The third largest employer, it employs over 50 million at present.

While the initial days of the new regulatory environment saw Indian real estate going through a phase of transition, now the story is largely about enhanced growth potential.

Over the past year, we have seen real estate post higher numbers, while also evolving and adopting global best practices.

From being an unorganised sector traditionally, Indian real estate has become more organised, transparent and now offers a safe and secure environment – ideal for investment that drives growth.

It has witnessed implementation of landmark reforms, which impacted it directly as also indirectly, be it GST, RERA, Insolvency and Bankruptcy Code and Benami Property Transaction Act, among others.

While the initial pain did exist, these reforms have taken the housing sector towards a healthier ecosystem and make the trillion dollar economy target sound feasible.

The biggest impact of these steps is financial discipline in the sector, which has also created a better perception for India as a global hub for investments.

Private equity investments in Indian real estate have improved 15 per cent year-on-year in January-March 2018, reaching $3 billion.

Overall, strong economic ground rules, proactive reforms and the use of technology will continue to boost the sector.

A number of new asset classes—such as co-working spaces, affordable housing, rental housing, and warehousing realty—have mushroomed in the country, and are fast gaining traction.

Backed by regulatory changes, the growth story of Indian real estate has been co-scripted by rapid urbanisation, increasing levels of income and growth in foreign and domestic investment, entry of international real estate players, investors and Indian corporate houses and the recent appreciation in EODB rankings.

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Nisha Shiwani hails from the pink city of Jaipur and is a prolific writer. She loves to write on Real Estate/Property, Automobiles, Education, Finance and about the latest developments in the Technology space.



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Wadhwa Group Expected To Invest Over Rs. 2, 000 Crores In Panvel Township

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Wadhwa group, the renowned firm is likely to make an investment of Rs. 2,200 crore in the first two phases of the Wadhwa group township in the Panvel location. This is an integrated township and covers 450-acres of land.

The Wadhwa group has a joint venture with GFH, a Bahrain-based financial investment Group is developing this township project in the Navi Mumbai Airport Influence Notified Area [NAINA], the company informed. The realty firm is also deciding to develop the whole project in 5 phases and this is estimated to cost Rs 6,000 crores. The project is likely to be completed in 10-12 years.

The developer is expected to generate nearly Rs. 3,200 crores from the phase-wise development of this integrated project. The Wadhwa group is also planning to construct 138 acres of the total land for overall development.

For the second phase, the company has planned development of apartment and bungalow units in more than 40 acres. The Wadhwa group has already sold 1,500 units in the first phase.

This phase-wise project is designed to have IT parks, retail mall, hospitals, school and more. On 14-acres land, the Wadhwa group is constructing offices and IT parks on 14 acres.

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Lodha, ESR Plans Joint Venture To Develop 89 Acre Industrial Park In Palava

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The well-known realty developer, the Lodha Group went into a joint venture with ESR India the Asia Pacific logistics real firm to develop an industrial park at the Palava City, close to Mumbai.

This park will be named as the ESR-Lodha Industrial Park and is planned to have 17 buildings in the vast area of 89-acres. According to the press release, this Industrial Park will be India’s maiden and largest master-planned industrial park.

Both the Lodha and ESR group are estimated to make an investment of $100 million and the partial area of this project is planned to have non-polluting manufacturing, logistics and warehousing.

Jeffrey Shen and Stuart Gibson, co-founders and co-CEOs of ESR said that the company believes that this strategic partnership will be of great help in the expansion of ESR group in India and will also contribute to the growth of logistics and real estate business in India.

This Industrial Park will be developed in a phased-manner and is expected to be built in 30-36 months.

The Lodha group has developed the Palava City that is spread over 4,500-acre in Navi Mumbai.

In the last month, the Lodha group in a joint venture with Godrej and Unimark made an investment in the Co-living startup named Housr. This project is planned to get five properties functionally in the next four months with the availability of 3,500 beds.

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Karnataka Govt Plans To Develop Suburban Railway Between Bengaluru And Tumakuru

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To provide smoother and seamless connectivity in and around the major areas of Bengaluru, the Karnataka Government is planning to develop a suburban rail corridor between Bengaluru and Tumakuru. As per the plan, the development of this project will reduce the travelling time between the two cities that are at a distance of 70 km from each other.

Deputy Chief Minister and Bengaluru Development Minister, G Parmeshwara informed about this plan after a recently held meeting with senior government officials.

Elaborating more on the plan, a senior official said, “The Government has planned to develop a separate railway track for this suburban rail route. The trains will run at a regular interval of 10 minutes,”

Once the plan will be ready, the state government will likely to submit it to Central Government as well as Railway Ministry. At present, train services between the two suburbs are already running from Yashwanthpur to Tumakuru. It is noted that the time taken to reach Tumakuru via Train is 50 minutes.

However, in order to lessen the travel time and to balance out the daily footfall, planning for suburban railway comes into focus. For this, a separate platform will be developed and the frequency of trains will be increased. This will, in turn, lessen the distance between the two regions.

Currently, many working professionals and industrial workers commute between the two cities on daily basis. Also, being a well-developed suburb, Tumakuru has also witnessed a jump in the real estate activities in recent years. So, enhanced connectivity will definitely add up to the residential realty market in terms of growth and property price.

Earlier, the State Government has also planned to expand Bengaluru metro (Namma Metro) corridor till Tumakuru. But the plan got rejected due to feasibility misses as well as financial constraints.

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Assetz Property Firm Launches Another Tower In Their Bengaluru-Based Residential Project

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The Assetz Property group has recently announced the launch of third tower in its Bengaluru-based luxurious residential project name 63° East township. This project is situated on off Sarjapur Road in Karnataka’s capital city.

The third tower will have multiple living units including studio, 2 and 3BHK housing units. The already launched two towers have 1/2/3 BHK homes with nearing completion as 80% units are being sold out. The residential project 63° East is spread across 26-acre and is close to Bengaluru Metro.

The amenities like rainwater harvesting, solid waste management, energy and water saving fixtures, clubhouse, multiple swimming pools, more than two badminton courts, dedicated walking paths, skating rink, organic farming space, yoga deck, amphitheatre, terraces with seating arrangements, barbeque, library and more make 63° East a luxurious residential project in the city.

Rohit Cariappa, director sales, Assetz Property Group said that our target market includes young families, independent working individuals and retired couples. The facilities available in this project offer something to everyone.

In December 2018, the Singapore-based real estate developer Assetz Property planned to invest a $250-million fund in India’s residential market.

Akshay Dewani, chief executive officer, Assetz property said that the company is reasonably institutionalized and has the ability to offer transparent and good returns to the investors. The fund-raising for the same will be completed in one year.

These funds will be initially used to purchase land parcels for the development of 15 million sq. ft. of residential projects in Bengaluru. Apart from this, the company will also venture into Pune, Chennai and Hyderabad.

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MRG World Announces Its First Affordable Housing Project In Gurugram

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Leading Business conglomerate, MRG World which pioneers in the agro sector, financial sectors, and education sector has now forayed into realty market of India and recently announced its first affordable housing project in Gurugram. The Project name- ‘The Balcony’ will be located in Sector 93 of Gurgaon. Spread over 5 acres of area, the project is home to 731 budget-friendly apartments.

‘The Balcony’ will be offering 2 BHK apartments in different size and configurations. The residential tower is IGBC Gold Certified Building and comes with an unmatched price. Each and every unit comes with world-class and modern architecture and is fitted with all the basic fittings and necessities to enhance the lifestyle of the residents in much pocket-friendly rates.

Speaking at the launch, Rajat Goel, Joint MD, MRG World said, “After achieving laurels in our current business, we have now entered into the realty world. ‘The Balcony’ is an affordable housing project, located in sector-93 of Gurgaon. The total cost of the project is Rs 200 crore which will be funded through internal accruals and advances from customers.”

The starting price of the residential unit is Rs 24.04 Lacs.

‘The Balcony’ is also home to state-of-the-art amenities like Food Court, Outdoor Gym, Community Party Lawn, Kids Play Area, and Multipurpose Center Lawn. In terms of connectivity, the project is just 2.5 km from Dwarka Expressway and is at a distance of 15 minutes from IGI airport. Many shopping complexes and multiplexes are also in close vicinity of the project.

“We have set a deadline to complete the project within the next 4 years as stipulated under the housing policy of the Haryana government. The homebuyers can avail the benefits under the Pradhan Mantri Awas Yojana scheme.” Goel added.

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Kalpataru Group Launches New Project ‘Starlight’ In Thane

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Leading realty developer Kalpataru Group has recently announced the launch of its new project ‘Launch Code Starlight’Leading realty developer Kalpataru Group has recently announced the launch of its new project ‘Launch Code Starlight’ within its upcoming integrated township in Thane. Located on the plush location of Kolshet Road, project Starlight is a true embodiment of luxury and extravagance.

The project offers spacious and opulent 2, 3 BHK and 3 BHK Sky Loft Apartments with brilliantly-crafted architecture in different size and configuration. All the residential units are equipped with modern and luxurious fittings and furnishings that will uplift the lifestyle of its residents. The units are innovatively-designed with contemporary features and best space utilization. Video door phone and integrated intrusion alarm systems is an added feature in every unit.

Apart from these facilities, ‘Launch Code Starlight’ also boasts a plethora of lavish amenities like Clubhouse with Lounge, Pool table, Table Tennis, Carom, Foosball, chess, Video games & entertainment room, Dartboard, Function Hall, Music room, and Children’s activity area. Other amenities include Swimming pool with pool decks, Toddler’s pool, Poolside cabana, Pool lounge, Children’s play area, Maze garden, Viewing Decks, etc.

The project falls in the vicinity to some of the most important localities and developments like St. Johns School, Billabong High School, Holy Cross School, Hiranandani Hospital, Divine hospital, Korum Mall, R Mall, Big Bazaar, Hyper City and art & culture centers.

Established in 1969, Kalpataru Group is one of the leading real estate companies in India. The group has delivered many landmark residential and commercial developments across the country. Kalpataru Group works on strong values of ethics, quality, prudence, humility, respect, and transparency and mission to provide quality homes to the customers. within its upcoming integrated township in Thane. Located on the plush location of Kolshet Road, project Starlight is a true embodiment of luxury and extravagance.

The project offers spacious and opulent 2, 3 BHK and 3 BHK Sky Loft Apartments with brilliantly-crafted architecture in different size and configuration. All the residential units are equipped with modern and luxurious fittings and furnishings that will uplift the lifestyle of its residents. The units are innovatively-designed with contemporary features and best space utilization. Video door phone and integrated intrusion alarm systems is an added feature in every unit.

Apart from these facilities, ‘Launch Code Starlight’ also boasts a plethora of lavish amenities like Clubhouse with Lounge, Pool table, Table Tennis, Carom, Foosball, chess, Video games & entertainment room, Dartboard, Function Hall, Music room, and Children’s activity area. Other amenities include Swimming pool with pool decks, Toddler’s pool, Poolside cabana, Pool lounge, Children’s play area, Maze garden, Viewing Decks, etc.

The project falls in the vicinity to some of the most important localities and developments like St. Johns School, Billabong High School, Holy Cross School, Hiranandani Hospital, Divine hospital, Korum Mall, R Mall, Big Bazaar, Hyper City and art & culture centers.

Established in 1969, Kalpataru Group is one of the leading real estate companies in India. The group has delivered many landmark residential and commercial developments across the country. Kalpataru Group works on strong values of ethics, quality, prudence, humility, respect, and transparency and mission to provide quality homes to the customers.

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Raheja Aranya: Residential Plots Within Integrated Township On Sohna Road

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Leading developers Raheja Group proudly presents Raheja Aranya, a sprawling integrated township located at Sohna Road. Nestled amidst foothills of Aravallis, the project is all set to give its residents a fresh and tranquil environment free from city’s hustle and bustle. The township is spread across 125 acres of massive area and is developed by renowned L&T Group.

The project offers residential plots in different size and configuration ranging from 127 sq. mts. to 672 sq. mts. The township is hosts to world-class amenities like clubhouse, retail centers, shopping centers, malls, educational institutions, Hospitals, local flea-markets, etc.

Raheja Aranya boasts all the modern infrastructures that are mandatory for township development. This includes solar power generation, rainwater harvesting, solar lighting, waste management systems, water recycling systems designed for zero discharge, Wi-Fi Hotspot along with 24*7 security.

Key Features of the Project

Integrated City with plotted developments.
Plot Size available in- 127 sq. mts. to 672 sq. mts.
City with World-Class infrastructure.
Surrounded by Aravalli Hills to provide breathtaking views and fresh air.
24*7 monitoring by CCTV cameras.
Infrastructure development by L&T.
Centralized STP’s where treated water is used for Horticulture purpose.
solar power generation, rain water harvesting, solar lighting, waste management systems, water recycling systems designed for zero discharge, Wi-Fi Hotspot
Walkways and cobbled sheets to explore the scenic landscape of the city.
Location of the project

Situated in Sector-11 and 14, South Gurgaon on Gurugram-Sohna Road.
Golf Course Extension Road- 15 minutes
Metro Extension planned from Huda City Center to Sohna Road.
Retail centers, shopping centers, malls, educational institutions, Hospitals, local flea-markets in the vicinity.
GD Goenka School and University, K R Mangalam University and Westin Spa juts a minute away.
HSIIDC Industrial Township and IMT Sohna is also in vicinity.
Located near Delhi-Mumbai Dedicated Freight Corridor.

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EDITOR'S PICK

Know The Top Localities To Invest In Noida

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Noida has always been a hot spot investment destination among property buyers after Delhi. Being well-connected to NationalCapital and other NCR regions via metro, highways, and expressways, there has been a huge demand for residential units among homebuyers. Moreover, in recent years, many new localities have emerged in Noida that are offering many affordable as well as luxury options to the homebuyers. Take a look at some of the top localities which are best to invest in Noida:

Sector- 150

This sector is emerging as one of the most lucrative investment options in recent times. Poised as one of the greenest sectors of Noida, the authority has already planned to develop this sector as a sports hub of Noida. This sector boasts mostly luxury properties from renowned developers like ATS, TATA, Godrej, etc. One can easily invest in spacious 3 and 4 BHK apartments as well as luxurious villas. Banging on Noida-Greater Noida expressway, the sector is surrounded by leading IT Companies, MNCs, educational institutions, etc. The Aqua Line Metro also passes through this area. The average property price in this sector is Rs 5,141 per sqft.

Sector- 75

Another sector which is quite popular amongst home buyers is sector-75. This sector is well-connected to Greater Noida and Delhi as Metro’s Aqua Line and Blue Line are in proximity to this locality. It is also surrounded by commercial hubs of Noida like sector- 100,104, 107,110,113, etc. The area has many ready to move in developments from leading developers. The average property price in this sector is Rs 5,145 per sqft.

Sector-74

This sector also boasts seamless connectivity to other surrounding areas via a well-established metro corridor as well as Noida-Greater Noida Expressway. Most of the properties here fall in the premium and luxury segment. The average property price in this sector is Rs 4,892 per sqft.

Sector- 121

This sector is close to upcoming FNG Expressway and Noida commercial hubs like sector- 62, 63, 68, 71 and Sector 123.  One can easily get 1 BHK to 4 BHK apartments in this sector. Some of the leading developers present in this locality are ABA corp, Ajnara, Gulshan, etc.

The average property price in this sector is Rs 6,583 per sqft.

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EDITOR'S PICK

Properties In Nizampet Emerges As A Preferred Residential Suburb In Hyderabad

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One of the fastest-growing suburbs around the IT corridor of Hyderabad, Nizampet in recent years has emerged as a preferred residential destination among the homebuyers. The locality is well connected to other well-developed residential and commercial hubs like Kukatpally, Bachupally, and Miyapur. The nearest metro station is JNTU metro through which one can easily commute to other nearby and surrounding areas.

Nizampet is also well-connected to Secunderabad, Bachupally, koti, etc. via state run TSRTC buses. The nearest railway stations to Nizampet are Hitech City and Hafeezpet. The government has also proposed metro terminal and intercity bus terminus at Bachupally, which is nearby to the locality.

Besides, connectivity the government has worked extensively on the infrastructure development of the area. It is home to many leading schools, Hospitals, commercial hubs, shopping malls, recreation centers, etc. Some of them include Laurus – The School of excellence, Kennedy High, the global school, VNR Vignana Jyothi Institute of Engineering and Technology, Seven Hills Venkateswara Swami Temple, Sree Kanakadurga Ammavari Temple, Heritage Fresh, MORE Mega Mart, Metro Hospital, Sri Sri Holistic Hospitals, etc.

The locality is divided into two parts namely- Nizampet and Nizampet Village. Both of these areas have many residential projects and gated communities which are home to many families. Some of these colonies include Brindhavan Estates (oldest duplex housing society), Parvathi Villas (Duplex and Triplex houses), Srinivasa Housing Society, Narayana Reddy Huda Colony, Prashanti Hills, etc.

Moreover, there are many reputed builders who are developing their affordable and premium residential projects in the locality such as Vazhraa Nirmaan’s Pushpak, etc.

At present, the property price in Nizampet is Rs 3,622 per sqft. A 2 BHK can be availed at a price range starting from 35 lakhs, while a 3 BHK comes with a price tag of Rs 55 lakh to a crore depending on amenities and specifications. However, a 2 BHK is more preferred among homebuyers due to their affordability.

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Prestige Group Inaugurates Three Landmark Properties In Bengaluru

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The three properties, Prestige Technostar, Prestige Falcon City, and Prestige Gulmohar come under commercial, mixed-use and residential developments.

Speaking on the occasion of the inauguration, Irfan Razack, CMD, Prestige Group said, “In recent years, the property market of Bengaluru has taken a U-turn in terms of demand and supply. The country has recorded a 75% increase in the launch of new housing projects across various cities. The same has been witnessed in the commercial, retail and mixed-use segments too,”

He added that the group has got a positive feedback after the launch of the above three developments. We thank all our valuable property buyers for giving these properties such a good response.

About Properties

Prestige Technostar: Prestige Technostar is a commercial development situated on Brookefield Main Road. The commercial space is hosts to 1.8 acres of landscaped central open space, world-class office space spread over 10,54,655 sq ft along with water features and social zones. The development also offers Food & Beverage facilities, a gymnasium, a crèche, parking for 1897 cars, etc.

Prestige Falcon City: It is a mixed-land development which consists of 2,520 world-class housing units, massive retail area, and the largest Forum Mall in Bangalore. Located at Kanakapura Road, the project is spread across 41 acres of area, the housing units on offer are 2, 2.5,3 and 4 BHK apartments with spacious and state-of-the-art architecture. Prestige Falcon City  also houses the giant clubhouse, entertainment zone, cultural and convention center, etc.

Prestige Gulmohar: The residential development is spread across 3.27 acres of area and is situated on Horamavu Main Road. The 404 residential units (2, 2.5 and 3 BHK) are spread across 5 Towers with some brilliantly-crafted amenities. All the units are spacious, well-ventilated and Planned with luxurious and mind-blowing interiors. The property also houses amenities like gymnasium, Badminton court, health club, multipurpose hall, swimming pool, etc.

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