Having surplus land during a realty boom is similar to sitting on a goldmine. While many corporates continue to hold on to this valuable asset in anticipation of a further price appreciation, quite a few have decided to cash in on the opportunity and boost their bottom lines in the bargain. Corporates have reported a significant improvement in net profit riding on the large extraordinary income earned in the form of profit on the sale of property. The list includes ACC, Ranbaxy Laboratories, Pfizer, Rallis India and BOC India. Others like Bombay Dyeing, Century Textiles and Godrej Industries own several acres in Mumbai and Thane, thereby creating huge assets for themselves.
 

 

                                                                                   Courtesy: ET dtd. 20/06/08

Amrapali Group performed the bhoomi poojan of 'Amrapali Modern City' in Indore. Located in close proximity to IIM, Indore, 'Amrapali Modern City' will have premium class independent luxury villas, residential apartments, and plots besides commercial complex. Developed over 150 acres, the township has two entry points one from

Rau-Pithampur Road

and the other from Rau Khalghat, 4-lane road. Central Green Park, jogging track, exclusive clubhouse, swimming pool, gym, steam and Sauna bath, kids zone, community hall, basketball and badminton court will be part of this project.

 

 

 

 

 

Courtesy: - HT dated: - 21^st June 2008            

 

 Real Estate Investment in U.P. Cheaper

 

U.P. Government has given a big respite to the people who are interested to invest in

Real estate. It has been announced that stamp duty on registration of flats, plots and building like properties has been reduced from 8% to 5%.

Simultaneously, it has also been announced that within next six months the process of registration of properties will be made easy and side by side e-registration will also be implemented.

Properties will be registered and stamp duty levied in NOIDA and Greater NOIDA on the basis of price. It has also been decided that at both the places, circle rates will not be made effective for a period of next one year.

 

Sanction to increase FAR in Ghaziabad including Gautambudh Nagar has been accorded. With the announcement more flats can be made at these places which will reduce the construction cost and cheap flats will be available. In addition to this, percentage on rent agreements and agreements between developers & property buyers has also been reduced. Additional rebate of 2% will continue for ladies as usual in the state. These decisions were stamped during the cabinet committee meeting presided by C.M. Mayawati on Wednesday.

 

Dewan Housing Finance Corporation (DHFL) has hiked retail prime lending rate (RPLR) for its existing customers by 50 basis point. The increase will be effective from July 1, 2008. DHFL has also revised its interest rates for new customers who wish to avail home loans.

 

 

 

              Courtesy:- ET dated:- 3^rd July 2008

 

DLF is looking at setting up a Rs 800-crore venture capital fund with a mandate to invest in companies engaged in equipment management and construction. This is being seen as a strategic move by DLF to support its rapidly expanding construction activities.

 

The Delhi-based firm has filed documents with Sebi seeking approval for the fund. “It is being processed by Sebi. Therefore, we cannot comment beyond this,” said the DLF spokesman. The realty boom of the past three years has changed the scale at which realty firms work in India. Companies have seen unprecedented growth and taken up mega projects, requiring manpower, equipment and management skills of a high order. DLF, India’s largest real estate firm, has been a leader in taking up big projects. It has constructed 9 million sq ft last fiscal and plans to complete 16 million sq ft this year. It has set a target of 22 million sq ft for the next fiscal. With such an ambitious target, DLF needs a strong support infrastructure in place.

 

 DLF has focused on strengthening its execution capabilities. The venture capital fund will augment the company’s efforts towards quicker execution. The fund will invest in small companies that manage equipment, construction material and manpower. The companies may buy advanced equipment- critical for quick execution-and then lease them to DLF. Similarly, these companies can independently manage construction material and manpower and become a source of supply to DLF, whose operations are now spread across the country. These VC-funded firms which are likely to have long-term agreements with DLF, will also have the option to offer their man and material to other developers.

    

NEW AVENUES

The setting up of the Rs800-cr fund is seen as a strategic move by DLF to support its rapidly expanding construction activities. The venture capital fund will augment the company’s efforts towards quicker execution. The fund will invest in small companies that manage equipment, construction material and manpower. The Delhi-based firm has filed documents with Sebi seeking approval for the fund.

 

 

                                                                                      Courtesy: - ET dt:-. 8.07.2008

For commercial retail, one needs higher investments compared to residential or office real estate. For a standard size retail outlet an investment of Rs.70-80 lakh is required. "But one can buy retail space in a mall with Rs.30-40 lakh. There are 300-500 sq.ft. outlets available in the malls in the form of food stalls, ATMs, florists, travel and money transfer outlets", says Ramesh Menon of Ground Realty. But then according to Menon, higher entry-level investment is no deterrent as rental returns and capital appreciation are quite high. Investment is much more secured and exit route is easy (one can exit in six months).
 
Shubrahnshu Pani feels that in the commercial retail real estate smaller investors are obliged to go in for quoted price and as such they have limited bargaining power. But then the investors clubs which are springing up all across the country are proving to be a real boon for the retail investor. Says Lakhotia, founder of an Investor Club “The popularity of such clubs can be gauged from the fact that today we have a membership of 280. Since we buy in bulk, we are able to get a special bargain benefit of 15-24 percent on retail property. There is another advantage of joining such clubs. While for individual investors, investments in retail property is high (Rs.30-35 lakhs), Investor Club members can invest as low as Rs.5lakhs and reap the benefits of high ROI. Now that more and more small investors are realizing the benefits of joining the Investor Club, we are getting number of requests from other cities like Mumbai and Bangalore to set up branches of our club there.
                                                                        

 

                                                  Courtesy realty plus

Crossings Republik is one name that conjures the vision of mammoth world class city embellished with extensive greenscape, up to the minute amenities, and strategic location at NH 24, indicative of easy approach to Ghaziabad, Noida and Greater Noida. Branded as India's first global city, this 360 acres of township has malls, clubs, spas, excellent schools, and other educational institutes, golf course, hotels, hospitals, banks and spacious apartments. The inimitable city is brought about by the seven most leading names in the realty sector, namely Ajnara Farms & Services Ltd, Assotech Limited, Gaursons India Ltd, Mahagun Developers Ltd, Panchsheel Promoters Ltd, Paramount Residency (P) Ltd and Supertech Limited. They have come together with years of experience, expertise, unlimited imagination and invaluable ethics to bring about their first joint venture called the Crossings Republik. With an excellent record of over 62 successful projects, 23 ongoing projects, more than 10,000 satisfied customers and over 25 years of experience, the Group has initiated this dream project using its mighty vision, collective experience and expertise to offer an ultra-modern global city that will rewrite the concept of luxury living.
                                                                                    

 

                                                          Courtesy: - HT dtd: - July 11, 2008

Akar Creations Pvt. Ltd is a real estate arm of the Borkar group - a Rs. 150 crore Borkar group having a diversified presence in packaging, retailing and real estate. Borkar group was founded in the year 1910 as a retail kiosk and eventually spread its wings into printing and packaging and later - the construction industry. The retailing arm of Borkar group today encompasses a chain of supermarkets spread out in the city of Margao-Goa. Akar Creations has been active player in the construction and real estate industry for 25 years. During this time Akar Creations have commissioned a variety of innovative projects in Goa. Many of Akar's projects have become landmarks in the places they are located.

 

                                                                                         

 

Courtesy: - HT dtd: - July 11, 2008

 

Felicity Estates Pvt. Ltd. is a name synonymous with leadership, trust, quality and reliability. Building on strong pedigree and established reputation, the group combines an impeccable record of performance with innovation and leadership in real estate industry. Part of the SRA group (S.R. Ashok & Associates Pvt. Ltd.), Felicity Estates Pvt. Ltd., combines strength of experience with the dynamic needs of modern living. With over three decades of proven excellence in construction of residential, institutional and commercial projects for leading govt. and private agencies, today SRA group is known for consistently set benchmarks for landmark construction. Felicity Estates Pvt. Ltd. has to its credit, some of the finest residential projects in Rudrapur, Jaipur, Chandigarh, and Goa, which reflect best of the design, planning and viewing the needs of modern families.

 

           

 

 

 

Courtesy: - HT dtd: - July 11, 2008

 

Ashiana is a word which defies translation. Very simply it means a home. But it is an Indian home and represents an Indian concept of peace and harmony borne out of family well-being related to the home. In its true sense, it can only perhaps be understood, by one who has cherished a home and built his aspirations and dreams around it. At Ashiana Housing & Finance (India) Ltd., this concept has helped to construct more than 3.0 million Sq.Ft. of residential and commercial space. Ashiana Housing began its operations in 1986 from the state of Bihar.

 

  

 

The projects executed have been in Patna and Jamshedpur. The singular aspect of the construction activities is that the company has constructed residential and commercial complexes without any time/ cost overruns. The corporate philosophy has been to provide quality construction at affordable price tags and to deliver in time. More recently the company has gone into construction of residential projects at Bhiwadi, Rajasthan and Vaishali, Ghaziabad.

 

                                                                                        

 

Courtesy: TOI dtd: - July 11, 2008

 

Arrival of boom in real estate has seen mergence of many realtors/ builders. Among the fore runners, one is Amarapali group. Over a span of 12 years, the group has build scores of residential building, commercial complexes and corporate houses. It is now foraying promisingly into the extremely challenging space of SEZs. This remarkable success of Amarapali group owes to no. of factors namely man, machine and mantra.

 

  

 

Amarapali group is head by its chairman / MD Mr. Anil Kr. Sharma, who is great visionary in his own right. After creating a vast repertoire of top class residential projects, malls, SEZs and IT parks, the group the set to take a giant leap by foraying into the high growth hospitality business in the country. In the first phase, the group is going to launch its international class 4 / 5 Stars hospitality projects in the cities of Virindavan, Bareilly, Jaipur, Udaipur, Indore and Greater NOIDA.

 

                                                                               

 

 

Courtesy: TOI dtd: - July 11, 2008

 

World’s Fourth Night Safari, Ganga Express Way, Formula One Race Track like several other things make Greater Noida special. It is evident that this city is attracting people to make their house.

 

Greater Noida is outstripping all other cities of NCR in the race of development. This city appears to be well ahead in the matter of better infrastructure and word class projects. This is the reason that big & small, resident & non-resident investors are focusing the city. This city has its unique identity due to its World’s Fourth Night Safari, Taj Express Way, Taj International Airpot, Gautam Buddh University, Mega Projects by the sides of Express Way, Formula One Race Track, Ganga Express Way, Transport Hub, Delhi – Mumbai Industrial Corridor, India Expomart Centre, Education Hub, Container Depot and IT city etc.etc.

During the forthcoming time, greater noida will show a special sparkle on the world-map. Situated near the country capital Delhi, this city has several such special things which are well enough to captivate each & every person. Then why every one would not like to have his beautiful house here. For this, while Greater Noida Authority brings housing scheme from time to time, the private developers are also accelerating more and more the development speed of this city. The people need not bother due to the distance from Delhi here. Here on one side the proposal for construction of an airport is being passed, while on other side it is hoped to bring the metro early. Express Way facility is already there for commuter by their own vehicles. After construction of Faridabad- Noida road, here traveling will become more comfortable

 

 

New projects:-

Omaxe Group is constructing NRI city in an area of 80 acres in Greater Noida. It will be given shape of a Mini Township. It will provide the facility of mall also. In addition to this, Ansal Plaza and MSX Group’s MSX Mege Mall will also be here. People can searchi their homes in Uppal group’s Residential Pulmeria, Parshvnath’s Eaden, Platinum & Panorama , Purvanchal’s Silver City, Unitech’s Horizon & habitat including Unitech Heights etc.

 

 

High-Tech Transport

City’s transport system will be altogether high-tech. On the lines of Indore city buses will be plied here. All the buses will be pollution free. Tata Company’s 80 low floor buses will be plied in first phase for it.

 

High-Tech City

Preparations here already been completed to settle several high-tech cities like Noida & Greater Noida along with Taj Express Way Cities to constructed on it shall be completed in three phases. First phase master plan has been passed by Taj Authority Board during its meeting. The features of these cities shall be that the SEZ, institutional, ware housing, automobile zone, transpaort, sports centre, group housing and commercial pieces of land will be allotted not in yards but in hectares. Its development will be done by big groups.

Ganga Express Way

 

In fact, roads are meant for transportation but these bring riches which way these pass. Ganga Express Way will also be similar. The way it will pass, it will bring happiness there. The Ganga Express Way leading from Greater Noida to Banaras is the destiny changer of people. While this express way will be a mile stone from the traveling point of view, it will prove a boon for the areas which fall on its verges. According to the wishes of U.P Administration, these areas will be developed on the pattern of Noida & Greater Noida. Proposal to construct township at the verges of Ganga Express Way has been sent by several districts to the administration

 

Formula-1 Race Track
There is a proposal to construct a Formula-1 Race Track in Greater Noida. The authority has selected 700 acre land for it. An estimated amount of Rs 1600 crores is expected to be spent on this project

 

 Night   Safari,   Tourism & Entertainment.
 Night Safari work will also be started soon in Greater Noida. Green signal has also been given for construction of transportation hub in Bodaki. While Corporate offices and Financial Hub will be constructed in Parthala Khanjarpur, Tourism & Entertainment Hub will be constructed near Night Safari. While a hundred types of animals may be soon by national & international tourists at night safari, pubbar, discothèque and casino can also be enjoyed simultaneously.

 

 Lush Greenery Will Spread  in Abundant
 Forest department’s 280.9 hectare vacant land near night safari on Murshadpur land shall be made green again. It will be given a shape of forest by doing plantation. The authority will get the plants planted by the forest department and it will be given a shape of forest

 

Multi-Speciality Hospital & Inter College
One multi- speciality  hospital in 10 to 15 acre land and two residential inter colleges in an area of 20 to 25 acres shall be opened in Greater Noida. Both the colleges and hospital shall be constructed and ready within a period of two and a half years. 

Mumbai-based Harsh Kaushal Corporation has launched its state-of-the-art Crystal Point mall at New Link road, Andheri (West), near the residential hubs of 4 Bungalows, 7 Bungalows and Lokhandwala Complex. The highlights of this centrally air-conditioned mall are a food court and entertainment zone on the fourth floor, with a banquet/conference hall spread over a massive 8, 000 sq ft. of area. An open terrace, measuring 30,000 sq. ft., is to be attached to it There will be two high-speed transparent capsule lifts that will afford a full view of the mall and its surrounding areas, ample parking space for more than 500 vehicles, high-class glass façade and a glass-roof atrium. Having already roped in Star India Bazaar as their anchor tenant, the mall is now open for booking shops on lease.

 

Lakhani Constructions, based in Navi-Mumbai, has launched three new realtyoptions at CBD-Belapur. The G+10 storeyed Lakhani Centrium at plot No. 27, Sector 15, offers plush offices measuring between 2,500 sq. ft. to 50,000sq. ft. Alternately, the G + podium + 14 storeyed Suncoast, at the same address, offers a choice between multi-level duplexes (2/3/4 BHK flats) and penthouses with modern amenities that include a swimming pool, indoor games area, gymnasium and meditation area. The project is scheduled for completion in the next six months. Lakhani's Galaxy offers ready possession options that stretch G+12 storeys at CBD-Belapur's plot No. 83 at Sector 15.

 

Once a sleepy hamlet shunned by the property developers, Bhiwadi, a bustling industrial town on NH8, is today witnessing frenetic residential and commercial activity, fast turning into a promising real estate destination.

Touted as a gateway to Rajasthan, Bhiwadi, falling in Alwar district and bordering Haryana is a major industrial growth centre in the NCR with more than 2500 operational industries. Bhiwadi enjoys immense locational advantage with Indira Gandhi International Airport, New Delhi, just 55 km away and Gurgaon 40 km away. Being close to Delhi and well connected by National Highway No.8, Bhiwadi is attracting industrialists not only from the capital but also from Punjab and other parts of India. Manesar, lying between Gurgoan and Bhiwadi, is another major industrial town with IT parks and proposed special economic zones. As the prices in Gurgaon are already high, service class people are left with no choice but to go to Dharuhera, Manesar or Bhiwadi. Several private firms like Ashiana, M-tech, Kajaria, MVL, Bhaskar BDI, Parsvnath, Omaxe, Piyush group etc are developing integrated townships and group housing projects along the Alwar-Bhiwadi Road, the nearest and most affordable destination. And today the real estate developers are quite upbeat about the brand Bhiwadi. Says Vijay Mohan, Marketing Manager of Ashiana Group, "In 1992 when we introduced our group housing scheme, we had to sell Bhiwadi first and then our product but today, from the marketing point of view, it is much easier for us to sell because Bhiwadi is gaining popularity and we are established as a brand in this locality. In 1992, people who had purchased flats from us for Rs 800/sq.ft. are today reselling them for Rs 2600/sq.ft. The 3 BHK villas that sold for Rs 15 lakhs in 2003 today fetch not less than Rs 60-70 lakhs."

 

The price appreciation is more discernible in retail arena as there is hardly any decent commercial complex in the town. In 1999, Rajender Gupta, a property dealer of Bhiwadi, bought a retail space in Central Market for Rs 5 lakhs. Today it has touched the Rs 50- lakh mark. He added, "Usually, every four years there is a boom in property prices and I believe that in 2009, the investors will get 100 per cent return for their investments."

 

Citing the reason for sudden real estate development in Bhiwadi, Rajesh Gulati, CEO, Infocus India, says, "Government's plan to develop Mumbai-Delhi industrial corridor (Bhiwadi will fall under phase I) and the entry of several new multi-national companies in and around Bhiwadi have acted as catalysts." He added, "In 2005, with the development of Gurgaon, Bhiwadi started gaining visibility. But the land, which used to cost Rs 20 lakhs/acre then, has jumped to Rs 1 crore/acre in 2007. In a year or two, it is sure to double."

                                                                                                       

                                  Realty Plus

The continuing growth of industries has naturally accelerated the demand for housing and it was in this context that in the 80's, Rajasthan Housing Board (RHB) constructed 985 lime and stone houses on 40 acres of land for the industrial workers on Dharuhera-Pawal Road. In 1991, RHB and UIT (Urban Improvement Trust) together developed Sectors 4 and 7 with 862 concrete houses built as part of this scheme (53% of them for the low-income group), while 266 of different categories are planned in the Milkapur Gujar locality situated to the south of Dharuhera-Pawal Road.

 

The housing options currently available in this town are the ones constructed by the RHB, plots of UIT that is purchased on which houses are constructed, Ashiana projects and Konark's Oasis group housing colonies developed by private builders. To meet the scarcity of classy homes, Ashiana has given Bhiwadi Gulmohar Park, Bagicha, Gardens, Greens, Rangoli and Ashiana Villas, which are fetching a good price for the investors.

 

Ashiana Group's exclusive project, called Ashiana Utsav, is slated to be India's first resort offering a comfortable post-retirement life to elderly citizens. The owners are free to sell or rent their flats and the builder also extends this facility for a fee. Anticipating a huge demand for housing by the employees of the proposed projects like car plant of Honda Siel in Khuskhera, SEZ of Reliance, Kundli Manesar Palwal (KMP) Expressway etc., several private developers are making contem porary-style apartments. MVL Coral boasts of podium garden, M-Tech markets Camellia Garden's luxury villas complete with personal swimming pool and fountain while Ashiana and Cosmos promise high quality residential developments. Kajaria Greens and Residency by Kingfisher are the other projects wooing the lifestyle-conscious people. And the yet to be launched Green City's NRI City will bring in the concept of golf homes. Besides, local developers like Nishita Builders Pvt. Ltd, Piyush Group, BDI Group & Bhaskar Media Conglomerate are coming up with integrated townships. With increasing consumer awareness, the developers are striving to redefine their product offering in terms of quality and design.

 

If one has to invest in residential property in Bhiwadi today, the plots by UIT are available between Rs 600-1200/sq.ft., the rates in housing colonies by RHB are around Rs 1500/sq.ft. and flats that are developed by private builders are quoted at a price between Rs 1400-2000/sq.ft.

 

Says Col. Dilbagh Yadava, Project Head, MVL, "There are several latent factors about Bhiwadi like the proposed airport, railway station, bypass, SEZ and Honda Siel Company, which have attracted real estate companies like us to develop our projects here." Adds, Prem Adip Rishi, CMD, MVL, "We entered Bhiwadi seeing rapid industrial growth and for its excellent connectivity. At present, there is an over-supply and so this is the time for wise investors to invest because once these projects materialize, the prices will escalate."

 

In fact, the price appreciation is already there. Amrit Pal Singh, GM (Marketing), Kingfisher Construction Pvt. Ltd. observes, "We had launched our project in January 2007, then the price quoted was Rs 1550/sq.ft. Today we sell our flats at Rs 1725/sq.ft. and by August 2008 when the project will be ready for possession it may go upto Rs 2200/sq.ft."

 

 

 

                   Realty Plus

Despite being a small town, Bhiwadi offers great return on investment in commercial property due to its locational advantage. The well-known shopping/commercial complexes in Bhiwadi include Central Market, Dhaba Commercial Complex, Ganpati Plaza Complex and Ashiana Arcade Complex. Central Market is the most pricey. This ground+2 floor market looks dilapidated, crowded and old but commands a price between Rs 8000-15,000/sq.ft. As the price is shooting up, the building is adding additional floors. The present rate prevalent in Dhaba complex is Rs 5000/sq.ft. Ganpati Plaza is largely an office complex where the property price is Rs 2500/sq.ft.

 

Since the mall culture is yet to embrace the town it holds a lot of promise for small developers in terms of retail development. To address this need, several malls are already being constructed in the town like Village Mall by Ashiana group, Capital Mall by R-Tech Developer, Parsvnath City Centre and BB Mall & BB Square by Jagrit Infrastructure Pvt. Ltd.

 

The 92,000 sq.ft Village Mall is coming up in Ashiana Village, targeting 1,000 families residing in this complex and families staying in other Ashiana projects around. It will be a mixed development with two floors dedicated to shopping and the other three marked for corporate space.

 

Bhiwadi-based developer Jagrit Infrastructure Pvt Limited is making BB Mall. According to Col. (Retd.) D.K.Sawan, Vice-President of the company, BB Mall is coming up close to the highway and BB Square plaza near Central Market, which is the prime but highly unorganized shopping locality. BB Mall will be fully air-conditioned, the first mall to have such a facility in Bhiwadi. Spread across 1,50,000sq.ft., this ground+5 storeyed mall will have shops, office space and multiplex. Sawan adds, "We will be investing Rs 50 crores to commission BB Mall. It will be ready by the end of 2009. Ground, first and second floors will be the shopping zones, while on third floor we will have corporate offices, shops, food court and hotel, and on 4th and 5th we intend to have a 3-screen multiplex. The shops on the ground floor are priced at Rs 7700/sq.ft and the rate gets reduced by Rs 1,000 for shops on each upper floor. The office space is priced at Rs 4711/sq.ft. BB Square will be a plaza of 25,000-35,000sq.ft. The rate is Rs 8,000/sq.ft here."

 

Bhiwadi will soon witness the emergence of service apartment culture. Parsvnath City Centre, by Parsvnath Developers Ltd. will be an exemplary combination of shopping, multiplex and serviced apartments. With three floors of boutiques and high quality merchandise stores, it is claimed to be the largest shopping mall in Bhiwadi. Wing Commander R.K Maheshwari, Vice-President (Marketing), says, "There are a lot of industries coming up in Manesar, Bhiwadi and surrounding areas. We are developing a township with fully furnished service apartments with club facilities, food court and shopping mall targeting at the floating population who visit these factories. The project will be complete by early 2009 and we are expecting 50% return on investment. The apartments are priced at Rs 2450/sq.ft., and the shops are priced at Rs 5,750 for the ground floor, the deduction being Rs 1000 with each floor upwards."

 

R-Tech Developers Pvt. Ltd. will complete Capital Mall in April 2009. With a grand frontage of 325 ft. and spread over 1,75,000 sq.ft., the six-floor mall will be dedicated to retail and entertainment with branded showrooms, boutiques, hypermarket, fast food joints and a four-screen multiplex. The ground floor shops are priced at Rs 5750/sq.ft., upper ground floor at Rs 5000/sq.ft. and the first floor Rs 4,500/sq.ft. Says Akhilesh Tyagi, GM (Sales), R-Tech, "The population of Bhiwadi has risen to six lakhs and 50,000 apartments are expected to be completed in the next two years. The primary catchments will be from surrounding residential and commercial pocket,"

 

Real estate experts believe that with boom in residential developments and propensity to spend on the rise, there is great scope for earning good returns on investments from malls.

                                                                                                        

                                                                                Realty Plus

Bhiwadi has today emerged as a bustling industrial township. Around 20,000-30,000 persons commute from Delhi, Gurgaon and Rewari to Bhiwadi on a regular basis to work in around 2,500 small, medium and large industries, which include MNC units that manufacture various types of products like steel, furnace, electronics, engineering, textiles, pharmaceuticals, cables, rolling mills, food processing, herbal care etc.

 

The Rajasthan State Industrial Development and Investment Corporation (RIICO) have envisaged for Bhiwadi a growth similar to that in Pune and Hosur. Good roads, developed plots, continuous power supply, high-speed data transferring facility and common testing facility are already developed in the industrial area of this town.

 

RIICO has envisaged developing a dry port that facilitates various value-added services. The facilities planned include container sheds, transit yards, warehouses, railway siding and truck parking, apart from excise payment and customs clearance facilities. RIICO is acquiring more land in Bhiwadi for expansion of the auto complex, which will have an exclusive auto component unit and engineering zone with a tool room and training centre. The automobile hub would generate new investment amounting to Rs.3,000 crores in the Bhiwadi region, creating employment potential for over 7,000 persons. As Rajasthan has the highest livestock population and tremendous bio-diversity, the state has good potential in animal husbandry, genetic engineering and biotechnology. To attract investment in biotechnology sector, RIICO is considering developing state-of-the-art biotech parks. A friendly-investor biotech policy is also on the anvil, under which many lucrative incentives will be provided to the biotech investors.

 

Some of the other projects that are to be taken up for development by PDCOR Limited, a joint venture company promoted by Government of Rajasthan and Infrastructure Leasing & Financial Services Limited (IL&FS), include an International Trade Centre and Medicity. An export-processing zone by DLF Group and a SEZ by Ansal API are also under implementation.

 

Future prospects

 

“The town infrastructure would get a further boost with planned and aggressive initiatives by the government”, R.P. Singh, Executive Engineer with Urban Improvement Trust (UTI), Alwar and Bhiwadi, remarks. He is positive about the future of Bhiwadi. "The proposal for railway station and bypass has been sanctioned. Within 2-4 years, Bhiwadi will be connected to Rewari by a broad gauge rail link and within two years a bypass will connect NH8 and Sohna Road. This year the state government has set aside Rs 4 crores to develop a commercial/office complex."

 

A focal point between all-important existing and upcoming industrial towns of Manesar, Dharuhera, Bawal, Chaupanki and Neemrana, Bhiwadi is on fast track offering great investment opportunities.

                                                                                                                 

 

                                                                                           Realty Plus

Kandivali, a largely residential suburb, located between Borivali and Malad on Mumbai's western line, is in the throes of an urban makeover with developers eagerly cashing in on its proximity to the arterial Western Express Highway and improved infrastructure to lure homebuyers and retail players with a slew of projects.
 
When Avinash and his wife Shantashree moved from the elite suburb of Bandra to a bigger flat at faraway Kandivali about five years ago, he feared the worst. And not without good reason, after all if it wasn't for the space constraints imposed by his cosy but small two-room apartment, he had no reason to relocate from Bandra, the suburb where he grew up and more importantly, where most of his social contacts still resided. "I had heard stories of Kandivali's commuting hassles, lack of basic amenities and frequent leopard attacks on people at the neighbouring Sanjay Gandhi National Park," recounts Avinash with a wry smile. It was only a few months after he had shifted with his wife to their new abode at a suburban apartment complex at Kandivali (East), did he realize that the horror stories he had heard were far from the truth. "I was pleasantly surprised by what I found. In fact, I have since advised quite a few of my acquaintances to move out here," he admits.
 
Kandivali over the decade has undergone a complete urban transformation and now rates as one of Mumbai's fastest developing suburbs and a preferred retail destination with plush shopping malls like Growel's 101, Shoppers' Stop and Raghuleela Mega Mall. Its landscape is now adorned with a huge number of high-rises and housing complexes that includes landmarks like the sprawling 21-lakh sq. ft. Evershine Millennium Paradise, a self-contained residential township with over 100 buildings, Challenger Towers, a clutch of six multi-storied buildings that reach for the skies and Raheja Willows, K Raheja Universal's residential complex on Akurli road that offers a choice between 2 & 3 BHK apartments in three towers with premium amenities. Other prominent projects include: Thakur Village, Thakur Complex, Kalpataru Gardens, Oberoi complex, Sun City complex and Gundecha Builder's Valley of Flowers.
 
The Lokhandwala group has come up with two townships in Kandivali- Whispering Palms and Spring Leaf. The former is a luxurious township of earthquake-resistant homes, spread over 27 acres of land and just minutes away from the WEH, while the latter too is a residential complex of 2 BHK and 1BHK apartments, with extra amenities like a tennis court, a play area for children, swimming pool, health club, besides ample parking space for residents.
 
While the eastern part of this suburb has witnessed the bulk of construction activities given the ample land available and a booming demand, Kandivali (West), with its large Gujarati population, is the ideal destination for the suburban crowds with its cleanliness, excellent connectivity, affordability and well-defined distance between its residential complexes and commercial areas.
 
Shopping for groceries and provisions is easy and affordable with the Charkop market and Apna Bazar close by. While Shoppers' Stop is the major retail shopping attraction, cinemas like Cinestar, Fame and Mayur cater to the tastes of the local moviegoers. This suburb also boasts of some of the best medical facilities in the city with a concentration of about 15 hospitals in the vicinity and a clutch of marriage halls that also abound here. As an increasing number of young, upper middle class property buyers look seriously at Kandivali as a residential option, the property rates of the suburb have shot up by about Rs 1,200 in past 4 years. Currently, the rates fluctuate between Rs 1,800 and Rs 2,800 per sq ft, depending on the area where the property is constructed and the facilities that the builder offers. Kandivali will also get more accessible once the fifth and sixth railway lines are added between Bandra and Borivali - a Mumbai Urban Transport Programme, which is expected to be implemented by 2007.
 
Attracted by the cosmopolitan mix of its residents and array of shopping, entertainment and lifestyle options close at hand, Kandivali is fast becoming the numero uno choice among young married couples and DINK (Double Income No Kids) families looking to buy or rent affordable home without having to compromise too much on their quality lifestyle.
 
"After living as a tenant at Andheri (East) where I couldn't stand in my balcony let alone go for a leisurely stroll in the evening thanks to the intense pollution and traffic congestion, moving to this flat at Kandivali (East) has been one of the best decisions of my life," concurs Adrian De'Souza, an IT professional with a software firm. "Earlier I lived at Andheri because it was closer to my office. After relocating I do spend more time traveling to and fro from work but it's well worth it because Kandivali offers a lot more in terms of open spaces and entertainment options," he affirms.
 
Mahesh Joshi, who moved with his family of four to Kandivali four years ago, was on the lookout for a larger flat that also afforded a quality lifestyle for his growing kids. Says he, "When I began my search, I explored many apartments in suburbs like Versova and Marol, but was disillusioned by the high prices and the sheer congestion. Kandivali, on the other hand, has a lot more greenery and open spaces for children to play in. Moreover, I was quite impressed with the area's shopping and entertainment options and the upcoming flyover that will connect Kandivali east to the west. All these factors cemented my decision to move here and now on hindsight I am happy I took that decision."
 
"Kandivali has been one of the biggest success stories in all of Mumbai's suburbs," says Dhiren Shah, Shah Property Consultants. "Customers are definitely showing a preference for its many integrated townships like Evershine Millenium, Valley of Flowers, Thakur Village and so on. Moreover, some of Mumbai's leading builders like the Kanakia's, Lokhandwala, Oberoi, Sheth group, Dynamix and Gundecha have their projects here. We are already witnessing a change in our customer profile for Kandivali projects from middle-class to upper-middle class. With the current rates for residential properties hovering between Rs 1,800-Rs 3,000 psf, the future looks quite promising.
                                                                                                             
                                      Realty Plus

SOME CONDITIONS UNDER WHICH A LANDLORD CAN ASK HIS TENANT TO VACATE THE PREMISES

 

 

 

The Rent Control Acts of various States contain provisions to protect tenants against eviction by the landlord on arbitrary grounds. Usually, no order for the recovery of possession of any premises will be made by the rent controller in favour of the landlord against a tenant in normal circumstances.

 

The controller may make an order for the recovery of possession of the premises on one or more of specified grounds only. An application should be made to him in the prescribed manner.

 

 

 

These specified grounds include:   

 

 

 

Non-payment of rent

 

  

 

The tenant has not paid the rent or arrears within two months of the due date. No order for recovery of possession of any premises is made if the tenant pays the rent due or makes a deposit. However, after obtaining this benefit once in respect of any premises, a tenant is not entitled to it again.

 

 

 

Sub-let without permission   

 

 

 

The tenant has further sublet or assigned without obtaining the consent of the landlord in writing. Any premises which have been let for being used for the purpose of business or profession will be deemed to have been sublet by the tenant if the tenant has allowed any other person as a tenant in the premises without the consent of the landlord.

 

 

 

Using premises for other purposes   

 

 

 

The tenant has used the premises for purposes other than that for which it was let, without obtaining the consent of the landlord in writing. The landlord must give a notice to the tenant asking him to stop misuse of the premises. The tenant must have refused or failed to comply with such a requirement within one month of the date of service of the notice. Further, the misuse of the premises should be causing public nuisance, damaging to the premises or should be detrimental to the interests of the landlord.

 

 

 

Residence not used   

 

 

 

If the tenant or any of his family members have not been residing in a premises let for use as a residence for a period of six months. Also, if the premises let out for residential purposes are required by the landlord for self-occupation. They may also be required for any person for whose benefit the premises are held. The landlord or such a person should have no other reasonably suitable residential accommodation.

 

 

 

Unsafe building   

 

 

 

The premises should have become unsafe or unfit for human habitation and required by the landlord for carrying out repairs. Also, the premises should be required by the landlord for the purpose of additional building or alterations. The proposed reconstruction should not radically alter the purpose for which the premises were let. The alteration may also be in the public interest. Further, the plans and estimates of such reconstruction should have been properly prepared and necessary funds should be available with the landlord.

 

 

 

Some other reasons:   

 

 

 

The tenant has either acquired or been allotted possession of a residence.