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PROPERTY

MHADA to create 1,000 houses for Thane police

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The Maharashtra Housing and Area Development Authority (MHADA) has sent a proposal to the Thane police department concerning the latter’s Vartak Nagar quarters. The proposal states that the housing authority will redevelop the quarters giving the police department not only the existing 570 houses but an additional 1,000 houses via lottery. The lottery will give first priority to the police officers.

The area falls under the jurisdiction of Chief Officer Konkan Board, Vijay Lahane. “This is a MHADA colony, in Vartak Nagar in Thane of which around ten buildings are for the Thane police. Talks have been underway for around four to five years now, and finally a proposal has been sent,” Lahane said.

President of MHADA, Uday Samant said the 1,000 houses will be sold by MHADA via a lottery. “We have decided that even while selling the 1,000 homes priority will be given to police officers. Post that we will give it to the common man.” MHADA’s proposal is that it will not charge the police anything. According to Samant, the colony will have a community hall and maybe a police station too.

MHADA has been for the last few years trying to find places and locations where it can construct houses and sell them to the common man. The demand for MHADA houses has seen a substantial increase this year as compared to the previous few years. The Mumbai Board lottery this year saw more than 1.64 lakh applications for a mere 1,384 homes.

Apart from this, there was also a demand for houses for the police in Palghar. The number of houses in Palghar stands at 186, and the MHADA in its authority meeting decided to give these houses to the police.

Police Commissioner Vivek Phansalkar of Thane police, didn’t reply to DNA’s messages.

New Deal

MHADA’s proposal is that it will not charge the police anything. According to Uday Samant, president of MHADA, the colony will have a community hall and maybe a police station too.

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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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Delhi

Ownership rights to residents of unauthorised colonies in Delhi says Kejriwal

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Delhi CM Arvind Kejrival
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The chief minister of the national capital territory of Delhi and AAP’s national convenor Arvind Kejriwal has made a positive announcement for more than fifty lakh populace of the unauthorized colonies of the capital regarding granting of ownership rights to the house owners through registries.
Till now the sale purchase of lands and houses in the unauthorised colonies was done  through power of attorney which was not fully legally tenable.
This announcement would benefit more than half a crore Delhites living in unauthorised colonies for years under shabby conditions without any adequate civic facilities.
The Delhi government will charge a minimum development charge of merely Rs. 6000 from each house owner before registering their power of attorney.
The Delhi chief minister said that the Delhi cabinet has passed a proposal to this effect and has sent it to the central government for clearance. Kejriwal is of the opinion that it will be duly passed by the central government after posing a few questions which will be clarified in a due course.
He thanked the union government for putting its seal of approval on his government’s recommendation.
In a tweet in Hindi Arvind Kejrival stated:
‘Kachi colonion mein rehne vaale logon ko badhayi. Jald aapko milega apne makaanon ka maalikana haq. Hamari sarkaar ke November 2015 ke prastaav ko kendra sarkaar manjuri dene ko tayyar. Jald registry karne ki tayyariyaan shuru. Dilli ke logon ki ore se kendra sarkaar ka bahut bahut shukriya.’
Translated in English: ‘Congratulations to the people living in unauthorized colonies. Soon you will get the ownership rights for the house you own. The central government is ready to give clearence to our government’s proposal of November 2015. Now, soon there can be a registry of your houses. On behalf of the Delhi people, I thank the central government very much.’
It may be recalled that there is not much time left for the Delhi elections due in February 2020. The Delhi CM Arvind Kejriwal is, therefore, throwing googlies after googly.
He had recently announced that in Delhi Metro, the women will be provided free travel facility. He had earlier also announced that a 1000 or more electric buses will be introduced in Delhi, which is greater than the commitment of all Indian cities put together. Now this googly from Kejriwal of granting of ownership rights to lakhs of residents of 1727 unauthorized colonies of Delhi.
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Commercial

Sarovar Hotels Plans To Expand Its Reach Across India By The End Of 2019

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In order to expand its reach across the country, leading hospitality firm Sarovar Hotels has planned to add around 16 properties by the end of this year. With this expansion, the group will be adding 970 more rooms to its portfolio.

At present, the group is managing around 73 hotels in the country and three in the international arena with a total of 6000 rooms.

Speaking on the above expansion, Ajay Bakaya, Managing Director, Sarovar Hotels said, “We took this decision to strengthen our reach across India and that’s why we are opening around 16 new properties by the end of 2019,”

He further added that the upcoming properties will be developed under the brand name- Sarovar Premiere, Sarovar Portico, and Hometel Suites Brand. These properties will be located across various cities like Dehradun, Bengaluru, Dindi, Ahmedabad, Goa, Junagadh, Udaipur, Dahisar, Bodh Gaya, Jammu, Dibrugarh, and Morbi among others.

While most of the hotels will be under the Portico series, the one at Bodhgaya and another at Dahisar will be under Premiere series and Hometel Suites brand respectively.

“The hospitality sector has witnessed a huge jump and a sturdier growth in the last few years. The reason behind this is the increased use of advanced technology as well as huge domestic travel. India remains severely undersupplied in hotel rooms. We will see hospitality grow both by conventional and disrupter means” Bakaya added.

Sarovar Hotels and Resorts is one of the leading hotel management companies in India. The group has its leg in each and every segment of hotels ranging from tech-enabled spaces to modern designs, from affordable to boutique suites across the country. The group also deals in setting up of new hotels and resorts which are managed under long term management contracts.

Apart from India, the group has its properties in Zambia and Nairobi in Africa.

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Commercial

Central Government Plans To Construct Light House Projects Across Six Cities

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To promote the use of Green construction technology, the central government has planned to construct over 6000 lighthouse projects under the Global housing Technology Challenge (GHTC), India. The Government has recently floated Requests for Proposals (RFP) for the same. The GHTC was launched by the government in February this year.

Under the challenge, the government has given a challenge to six different cities to construct over 6000 Lighthouse projects using six different technologies appropriate to the geo-climatic condition. The six selected cities are Chennai, Ranchi, Indore, Rajkot, Lucknow, and Agartala.

These houses will be developed under Pradhan Mantri Awas Yojana-Urban (PMAY-U).

As per the government officials, these projects will be completed within 12 months from the date of beginning at an estimated cost 20,000 dollars. These projects will encourage builders and developers to adopt innovative technologies useful in the construction of housing units. At the same time, some more research in these technologies will help in the development of the construction sector of India.

Elaborating more on the LHP and GHTC, India challenge, Amrit Abhijat, JS&MD (HFA) said, “These lighthouse projects would encourage the potential beneficiaries to visit the selected sites to see the ongoing work for adaptation. It would also serve as open laboratories for a live demonstration and would further garner the attention of academia, practitioners and media connoisseurs.”

To create awareness among developer and builders as well as participating states, the government has also planned a series of events on various web portals. You may log on to www.eprocure.gov.in to download the RFP, and for further details relating to RFP, you can access GHTC-India website at https://ghtc-india.gov.in/.

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Featured

Godrej Resort Residences: Premium Living Amidst Sprawling Greens In Noida

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Leading developers Godrej Properties presents Resort Residences; an ultra-modern residential project located in the greenest sector of Noida; Sector-150. Surrounded by large acres of central greens, massive open spaces, and healthy green environs, the low-density housing project is designed by renowned architect Hafeez Contractor.

The gated community will be offering 2, 3 and 4 BHK spacious apartments in various size and configuration. All the residences are equipped modern amenities and come with glass railings balconies, floor to height windows that provide excellent flow of natural daylight, and proper ventilation.

Godrej Resort Residences will be home to state-of-the-art facilities like sculptured kids’ play area, an interactive fountain for kids, amphitheater, jogging track, koi-lily pond, branded retail, exquisite plantations, colour and maze garden, butterfly garden, botanical pathway, and reflexology garden, indoor games arena, cards room, banquet hall, mini-theatre, tennis court, badminton court, luxury spa, poolside cabanas and much more.

The project is well-connected to major NCR areas via Noida-Greater Noida, Yamuna Expressway and the proposed Faridabad-Noida-Gurgaon Expressway.

Premium Features of the Project

  • 2, 3 and 4 BHK residences with resort-themed lifestyle.
  • Themed gardens lounged with herbs, ferns, textures and tree plantations
  • Yoga and meditation centers.
  • Zen and maze gardens
  • Butterfly garden, botanical pathway, and reflexology garden
  • Dedicated kids play area, swimming pool, sports area
  • Party lawn
  • 20,000 Square Meter Of Central Greens
  • Terrace Garden Amenities: Exercise Station, Meditation Zone, Hopscotch, Fountains, Pergolas
  • Amphitheatre, Sculptured Kids’ Play Area, Interactive Fountain
  • Jogging Track, Branded Retail, Koi-Lily Pond, State-Of-The-Art Gym With A Spectacular View
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Commercial

M Pallonji Owns Turner Morrison Building In Kala Ghoda For Worth Rs. 150 Crores

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In a recent development, M Pallonji Group bought Turner Morrison Building in Fort’s Kala Ghoda area, sources said.

The M Pallonji group is known for operations in construction, shipping and finance and various other sectors. The group bought Turner Morrison building owned a Kolkata-based company for nearly Rs. 150 crores. This building has G+4 floor structure and covers an area of 54,000 sq.ft.

The sources close to the development also informed that all formalities of this freehold property have been completed.

This building has offices of two reputed companies that are Cox & Kings who are the tour operator and a legal company named Crawford Bayley. Turner Morrison also holds some space in the building. The M Pallonji has reportedly paid Rs. 28,000 per sq ft.

A few years back, in 2016, the biggest such transaction took place when a Spanish fashion chain Zara leased 50,000 sq ft carpet area in South Mumbai’s prime location known as Flora Fountain, i.e. near to Fort House.

M Pallonji & Co. Pvt. Ltd. is a reputed firm in the Indian business arena that operates in multiple fields such as power generating stations (hydroelectric and thermal), chemical and fertilizer factories, petroleum refineries, offshore oil and gas platforms and more.

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Commercial

Tata Realty And Infrastructure To Step Up Its Commercial Real Estate Portfolio

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In a recent development, leading realty firm Tata Realty and Infrastructure (TRIL) have decided to step up its focus on the development of more commercial projects to maintain its real estate portfolio. The move has been strategised to create a balance between residential and commercial projects so as to enhance their legs in this real estate category too.

According to company senior officials, the group will start with ramping up their land acquisitions by adding around nearly 10-15 million sq. ft within a short span of time. At present, the group has approximately 5 million sq ft of commercial space, which is completed and leased, while another 2 million sqft is under various phases of construction. The company is also planning to launch more 1 million sqft of commercial development by the end of this year.

Commenting on the above, Sanjay Dutt, managing director and chief executive officer (CEO), TRIL said, “Our main aim is to dominate the commercial real estate market. Currently, the commercial to residential ratio is around 20:80. But with this move, we will now create a balance between the two categories. We want ourselves to be named as an all-rounder in the Indian real estate market.”

He further informed that under this, the company will develop corporate offices, information technology parks as well as shopping centers.

The decision is going to help TRIL in strengthening its commercial office portfolio that generates steady annual income as compared to the residential sector.

Apart from this, the company is also planning to put focus more on real estate developments in markets like National Capital Region (NCR), Mumbai, and Bengaluru along with Pune, Chennai, Kolkata, and Hyderabad.

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Featured

Runwal Group Launches New Residential Project In Mulund West, Mumbai

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Leading real estate developer Runwal Group has recently announced their new residential project in Mumbai. The project ‘Runwal Pinnacle’ is located in Mulund (West) and is designed by Architect Hafeez Contractor. The project will be one of the tallest residential towers in Mulund offering its residents a bird’s eye view of the surroundings such as Airoli Mangroves, Bay, and Sanjay Gandhi National Park.

The 67-storey tower will be offering 1, 2 and 2.5 BHK spacious and premium residences in various sizes and configuration. All the residences are equipped with modern facilities and Smart Home Automation system that will uplift the living style of its residents. The other state-of-the-art amenities include Landscaped Driveway, Double Height Entrance Lobbies, Sewage Treatment Plant, Rainwater Harvesting, Multi-level Car Park, Intercom Facility from Lobby to Apartment, CCTV Surveillance, RFID Tagged Security, and IP Video Door Phones.

Runwal Pinnacle has an exclusive Sky Deck which is a rooftop leisure zone 200 meters above the ground. Some of the amenities include Rooftop Jogging Track, Sky Deck Open Gym, Sky Deck Barbecue, Star Gazing Deck with Telescope, and Roof-top Sky Lounge. The Club facilities include Swimming Pool with Poolside Decks, Kids’ Pool, Party Hall, Mini Theatre, 2-Level Gymnasium, Yoga Room, Aerobics Room, Badminton Court, Half-Basketball Court, Creche, and gaming Arena. The project also has a Business center as well as Convenience Retail within the development.

Situated in Mulund, Runwal Pinnacle is surrounded by leading schools, colleges, hospitals, shopping and hospitality centers as well as also has a well-established social and civic infrastructure. The Eastern Expressway is just 2 km, while the international airport is 17 km from the project. The nearest railway station is Nahur Railway station.

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Commercial

State Government Approves Metro Expansion In Gurgaon; To Boost Realty Market

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In a recent development, Haryana Chief Minister Manohar Lal Khattar has approved the Detailed Project Report of the proposed metro expansion in the Millennium City Gurgaon. The proposed metro corridor will ensure last-mile connectivity in the IT city linking the newly developed areas such as Sohna, New Gurgaon, Udyog Vihar Phase 6, etc.

The Gurugram Metropolitan Development Authority (GMDA) has recently met and discussed the persistent traffic issues in the city. After the meeting, the officials came out with the decision to expand the current metro line so as to provide relief to the commuters.

As per the Authority officials, the proposed metro corridor is expected to be operational by the third quarter of 2023. The route will have a total of 25 stations along with six interchange stations.

Elaborating on the need of this metro expansion, a senior GMDA official said, “The Millennium city is witnessing a huge influx of working professionals and families from past many years. Due to the development of commercial office spaces in Cyber city, New Gurgaon, Dwarka Expressway, Sohna, etc., the traffic on the roads is increasing and becoming a mess for daily commuters.”

He further informed that the expected expenditure of the project will be 5126 crores and it will be developed by the Haryana Mass Rapid Transport Corporation (HMRTC). The proposed metro stations are HUDA City Centre, Sector 45, Cyber Park, Sector 46, Sector 47, Sector 48, Technology Park, Udyog Vihar Phase 6, Sector 10, Sector 37, Basai, Sector 9, Sector 7, Sector 4, Sector 5, Ashok Vihar, Sector 3, Krishna Chowk, Palam Vihar Extension, Palam Vihar, Sector 23 A, Sector 22, Udyog Vihar Phase IV and V, and Cyber City.

Impact on Real Estate Market

With the development of commercial hubs in Gurugram, the newly-developed residential sectors and areas in and around these hubs have gained traction among many developers to develop their premium, mid-segment and affordable housing projects here. Areas like Sector 46, Sector 47, Sector 48, Palam Vihar, and Sector 22 have seen witnessed many new launches in recent years. With metro connectivity, not only the areas will be linked to the other residential and commercial hubs but will also see a surge in the property prices

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Commercial

Ministry Of Road Transport To Build Highway Between Chennai And Surat

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In order to enhance inter-state connectivity, the Union Ministry of Road Transport and Highways has decided to build a highway between Chennai and Surat. The 1,461 km-long highway will not only augment connectivity but will also help in boosting the property market of the two cities and its surrounding areas.

As per the Ministry officials, the highway will be developed under the central government’s ambitious Bharatmala Pariyojana.  The stretch between the two cities will pass through various cities of Nashik, Ahmednagar, Solapur, Kalaburgi, Kurnool, Kadappa and Tirupathi. Moreover, the roads between Surat and Ahmednagar in Gujarat and Akkalkot and Mahabubnagar in Maharashtra will have Greenfield alignments.

The other corridors falling in between the stretch will be broadened from the current 2-lane to Four-Lane.

Elaborating more on the above, K R Kiran, Project Director, NHAI, Hyderabad said, “At present, the commuters who want to reach Chennai mostly travel via Pune-Bangalore Highway. Due to this, the route has already been saturated and can’t handle passenger pressure anymore. This has led NHAI to develop a new highway so that commuters can relieve themselves from traffic congestion.”

The highway between the two cities will also enhance connectivity between Chennai and Mumbai. The travelling distance will reduce by 100 km. Once the highway will be operational, the passengers don’t have to take an alternative route via Bangalore to reach Mumbai.

He further informed that the NHAI has already offered the contract of preparing DPR (Detailed Project Report) on the Greenfield stretch between Surat and Ahmednagar. The work on other stretches in Andhra Pradesh, Tamil Nadu, Maharashtra, Gujarat, and Telangana has also started which is currently in various stages of execution.

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Commercial

DLF Goes Into Joint Venture With GIC To Develop Biggest Mall In Gurugram

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The DLF group went into a joint venture with Singapore’s sovereign wealth fund GIC to build a retail mall in Gurugram. This mall will be developed in over 2.5 million sqft area and is believed to be the biggest mall of India, the sources said.

This will be a mix-land project and is planned to have both retail and commercial space named as Down Town. The same will be developed on a 23-acre land parcel owned by the DLF group in Gurgaon. This plot is located on the highway opposite to DLF Cyber Park that is spread over 2.5 million sqft.

The sources said that the retail mall is planned to be a part of 8 million sqft project and will also have serviced apartments, five-star hotel and commercial development. The project will be developed in two-three phases and will take more than five years to complete.

DCCDL i.e. the DLF Cyber City Developers Ltd will develop this project and will replace LuLu International Shopping Mall in Kochi that is spread over 2.5-million sqft and DLF’s Mall of India in Noida as the biggest mall in the country.

In 2017, the DLF and GIC signed jointed venture after the promoters K P Singh and his family sold their shares to the Singapore investment firm.

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