Metro Extension to Boost Ghaziabad Real Estate Market

May 29,2018 / By Priyanka / No Comment

The Metro construction work is in full progress to connect the extended pockets of Ghaziabad via Metro, from Dilshad Garden in Delhi to the New Bus Stand in Ghaziabad’s Madhopura. The trial runs on the 9.41-kilometre stretch had been deferred from March to June while the line is expected to be operational by September this year.

After too many delays, the things would soon be on a fast track as the Ghaziabad Development Authority (GDA) and the Delhi Metro Rail Corporation (DMRC) have finalized the funding model.

According to sources, the slowdown in the real estate sector, among others, are the reasons for a delay in payments. According to the note prepared by the GDA, the agencies and departments such as the UP State Industrial Development Corporation (UPSIDC), UP housing board, the GDA and the Ghaziabad Municipal Corporation (GMC) will be able to fund 10 percent of the total project cost of Rs 4,048 crore.

The latest deadline (September 2018) is subject to the final approval from the Centre and release of funds by the Ghaziabad Development Authority (GDA).

Metro Project: In 2014, an agreement was signed between the DMRC and the GDA for the development of this Metro line. The elevated corridor under Phase-III will have eight stations – Shahid Nagar, Raj Bagh, Rajendra Nagar, Shyam Park, Mohan Nagar, Arthala, Hindon and New Bus Adda. Close to 90 percent of the work has been done, which covers structural works on 12 out of 14 Metro station buildings.

Cost of the Metro Project: The project is being developed at a cost of nearly Rs 2,210 crore with about Rs 1,479.6 crore shared between various agencies based on the funding pattern sanctioned by the UP cabinet.

The share allocation for the various agencies are Rs 695.8 crore for the GDA, Rs 246.35 crore for the GMC, Rs 440.45 crore for the UP Awas Vikas Parishad and Rs 97 crore for the UPSIDC.

Reason for the Delays: While the GDA has been prompt in submitting its share, which includes Rs 80 crore on land, the other agencies have slowed down and have been asked to pay in installments.

This delay in financing has been one of the main reason, besides issues in the land acquisition that extended the project deadline by a year.

Impact on Real Estate: The new Metro line will pass through the Sahibabad Industrial Area and will considerably impact the residential market in the areas lying in the vicinity where the infrastructure is poor.

Once the Metro line is operational to the public, the projection of the areas lying along the Metro corridor would develop which is at present limited to the lower-middle-income segment. Connectivity to Mohan Nagar from Dilshad Garden would improve. Presently, the route remains chock-a-block all the time.

Buying property Life at home maintenance Smart Residential Living Tips

How to use Different Flooring in Different Rooms?

May 25,2018 / By Priyanka / No Comment

Your home’s flooring is one of the more luxurious investments you will make when beautifying the interior. Your selections are many, and picking different fabrications for each room need not result in a haphazard look. The connection between the flooring types is color.

Select your interior’s color palette before shopping for flooring. You should go for three different types of flooring from any one point in your home.

Color Scheme
Good interior design includes a color scheme for the entire house. Modifications in color choices depend on the location of the rooms and the number of levels in the house.

Starting with the hallway/entrance hall, select either stone, mosaic, tile, wood or a slate to mark the welcoming entry to your home. If you have a smaller apartment, laying one color and type of flooring throughout the main living areas vividly enlarges the living space.

Living Areas
The living room flooring can be sculpted laminated, wood, bamboo, tile, stone or carpet. The main aim is to mix and match the color of the floor with the hallway, as one flows into the other. An exact match isn’t necessary as long as the hues blend.

To avoid monotony in large spaces, consider an insert piece of carpet surrounded by hardwood. A dining room works best with stone or tile flooring.

Family Areas
Your family room’s flooring, specifically if it runs into the kitchen, should continue the color theme and benefits from a similarity to the kitchen flooring. If you choose carpet, go for a sculpted finish in a darker shade to prevent stain marks.

Tile, wood, and stone work best in high-traffic rooms. The kitchen should be tile, cork or stone, and it must keep within the color scheme of rooms that lead into it. Avoid laminate and wood in case water overflows and causes warping.

Bedrooms
The bedroom is where you show your creativity in the flooring. Children’s rooms should have hard-surfaced flooring. A distressed laminate is less costly than wood and stands up to too much wear and tear.

If the main bedroom is away from the living area, the colors can feed off the room’s decor, as long as they don’t clang with the entryway flooring.

Choose a neutral color for the entryway, preferably in laminate, tile, and wood, and your choices of bedroom flooring widen
If you are going for a hard surface flooring in your bedroom, area rugs on either side of the bed provide a warm footpath.

Blend the colors with the flooring you have selected for the bathroom. Placing a faux-Oriental carpet, with rubber backing, in the middle of the bathroom adds stylishness and hue.

Buying property Real Estate News Smart Residential Living

Reasons why one should invest in Charholi Budruk

May 23,2018 / By Priyanka / No Comment

Pune’s real estate market may not be as demanding as Mumbai’s and Delhi’s but it does have a few good localities for the investors. Charholi, on the city’s northern fringes, is one of them. The face of this micro market is gradually changing with the time, which makes it a compelling case for investors, mainly those who are looking or planning to invest in Pune real estate.

Top reasons which make Charholi a winner:

Connectivity: Charholi is located roughly 22 km from Pune via the Alandi road. It is around 17 km from the Pune railway station and just 6 km from the Pune international airport. But what makes it extraordinary is its vicinity to the city’s IT hub, Kalyani Nagar, which is just 9 km away, it sees constant demand from professionals with a limited budget. Moreover, there is also a robust demand for a rented accommodation. There are also a lot of reputed educational institutions nearby, most prominent among them being the DY Patil Knowledge Centre.

What’s in it for you? There are a fair number of reasons for investment in Charholi. With prices reaching a saturation point in areas such as Kalyani Nagar, Viman Nagar, and Vishrantwadi, home buyers with modest options are now looking at the surrounding areas.

In the last few years, Dhanori has already seen a noteworthy amount of development. Charholi will be one of the first regions to get the benefits of the Ring Road as well as other proposed development projects.

The other reason that makes Charholi an attractive destination is the location advantage. This micro-market is very close to the Pune airport in Lohegaon and has swift connectivity to the IT and residential hubs of Karadi, Hinjewadi, Alandi, Moshi, Viman Nagar and Wagholi.

Future development: One of the major infrastructure projects which will give a positive impact on real estate market of Charoli is the proposed 170km Ring Road around Pune and Pimpri – Chinchwad. These developments will improve the inter-connectivity of Charoli to Pune and the Pimpri – Chinchwad Municipal Corporation (PCMC) and beyond. This will definitely impact the property values of the locality.

Buying property Infrastructural development Smart Residential Living

Is it worth investing around Pune’s new Airport?

May 16,2018 / By Priyanka / No Comment

Universally airports make substantial infrastructural developments around themselves which lead to economic growth and increase in real estate demand.

The existing Pune airport has seen significant changes in last 12 months and the air traffic is on an upward trend due to IT, automobile and manufacturing industries.

Pune being the educational hub, many foreign and local students come to Pune for education. Therefore, a new airport is already a hot topic for the real estate industry and Purandar captivated everyone’s attention already.

Work on the proposed Pune International Airport will start, as the Centre gave a green signal for the project on April 30. The final decision came after a meeting between the officials of the Maharashtra Airport Development Company Limited (MADC) officials and a directing committee appointed by the Central government. On May 8, the Ministry of Civil Aviation also gave the project a site clearance.

Purandar airport to be named as Chhatrapati Sambhaji Raje International Airport and the project will be developed at an approximate cost of Rs 14,000 crore.

The new airport will be spread over 2,400 hectares of land out of which 1,300 hectares belong to the government. This project will cover seven taluka villages in Purandare tehsil – Pargaon Memane, Rajewadi, Waghapur, Ambodi, Pisarve, Rajodi, Jejuri.
It is situated 45 kilometers from the city center, the upcoming airport will run both international and domestic operations. The airport will be developed on a public-private partnership (PPP) model.

The airport will have two parallel airstrips or runway covering a length of four kilometers. It will be connected via six different routes, including National Highway – 4 and National Highway – 17. There are talks going on to provide a Metro link from Bhosari to Purandar airport.

Investment opportunities:
With the new airport coming up, the demand for residential and commercial properties is going to be higher in Purandar and adjoining localities near the airport like Bibvewadi, Saswad, Dhanori and Bhosle Nagar will see an upward trend in housing demand.

Proposed metro connectivity will be an added advantage to the infrastructural development which is likely to increase new employment opportunities and real estate development in Pune.

According to real estate expert, long-term investment in these areas seems to give a potentially high return for investors who are planning invest here.

Ample land parcel in the area surrounding the airport has already lured many developers and investors. Social infrastructure is set to improve and thus in the initial stage, the neighborhood is a perfect place to park your money for higher returns in the coming days. The locality will qualify as a location where buyers can secure a good rental income or a perfect second home destination.

Infrastructural development Smart Residential Living

KTR opens underpass at Mindspace Junction: Major relief to techies

May 8,2018 / By Priyanka / No Comment

Recently KT Rama Rao {Telangana Municipal Administration and Urban Development (MAUD) Minister} inaugurated Hyderabad’s Mind Space underpass which will provide major relief for several thousand techies who work in the area.

The Greater Hyderabad Municipal Corporation said that the Mind Space underpass is the second project under the signal free traffic corridors, as part of the Strategic Road Development Plan (SRDP).

The underpass is built at an approximate cost of Rs 25.78 crore, the underpass is expected to smoothen the heavy traffic in the area as a good number of people travel through the road while commuting to and from their workplace.

An analysis conducted by the municipal body stated that around 14,400 vehicles passed the stretch every hour and the number of vehicles was expected to shoot up to 31,356 every hour by the year 2035.

The six-lane underpass is 365 meters long, while the closed box length is 83 meters. The total width of the underpass is 28.80 meters while it has a minimum vertical clearance of 5.5 meters.

GHMC in a press release said that “Apart from Mindspace Junction, three other multi-level separators are at Biodiversity Junction, Ayyappa Society and Rajiv Gandhi statue junction with all the components costing Rs 379 crore. Apart from this facility, the underpass at Chintalkunta Checkpost too has been finished and is ready to be open to the public.

GHMC officials said that they will focus on completing the flyover at Rajiv Gandhi statue junction in Kukatpally. Smoothing vehicles movement from Malaysian Township to JNTU second gate, the flyover will benefit in addressing the traffic griefs in the locality.

Next on the radar will be the two flyovers at Biodiversity junction. Like Punjagutta junction, two unidirectional flyovers are being constructed at the junction, which is the main locality connecting the IT and ITES companies, besides for reaching the Outer Ring Road.

The infrastructural developments are coming up after taking into consideration not just to ease the traffic congestion but also to put in place a long-term road infrastructure in this part of the city, which has given a new distinctiveness to Hyderabad.

The city remains to lead the chart among the best livable cities of the country and SRDP works will go a long way in adding new infrastructure and meeting the future requirements, said a GHMC senior official.

Though commuters will have to tolerate a little inconvenience during the construction stage, there will be an outstanding change in the traffic flow in these areas once all the structures are completed, he further added.

Monthly Archives: May 2018

Metro Extension to Boost Ghaziabad Real Estate Market

How to use Different Flooring in Different Rooms?

Reasons why one should invest in Charholi Budruk

Is it worth investing around Pune’s new Airport?

KTR opens underpass at Mindspace Junction: Major relief to techies