Author Archives: Priyanka

Buying property Infrastructural development Real Estate Smart Residential Living

How Jewar airport going to impact the NCR real estate market?

Recently, the Uttar Pradesh government gave its approval for the second airport in Nation region Capital which will be built at Gautam Buddha Nagar’s Jewar in four phases

The state government has estimated that approximately 3,000 hectares of land would be required for the airport development. In the first phase, development work will be carried out across 1,206 hectares which is worth Rs 3,000 crore approximately.

The Jewar airport will be opened to the public in the next five to six years and the total estimated cost of the airport is around Rs 20,000 crore.

The project got a go-ahead from the Centre in June this year and a no-objection certificate (NOC) was issued on October 5 by the Centre for the project.

The state government, this August publicized that they have the plan to link Jewar with a Metro connectivity. The metro line would extend the current Greater Noida Metro Line to the airport site at Jewar which means the Metro link would be stretched further from Pari Chowk.

Will Jewar airport impact NCR real estate?

Like any other main infrastructure projects that benefit real estate markets, the Jewar airport, too, is projected to change the real estate dynamics in Noida and the neighboring areas.

A recent fall in the property market has led to a huge inventory pile-up. But after the airport project got approval, real estate developers have invested around Jewar and expected to have a positive effect on property prices.

Why is the necessity of an airport in Jewar?

Denizens living in other cities of western UP and some cities of Rajasthan have to travel to Delhi if the travelers plan an air travel. An airport in Jewar will be helpful for these people. This airport will not only serve the aviation needs of Delhi but also of cities such as Agra, Bulandshahr, Mathura, and Meerut. The civil aviation ministry expects this airport to give a boost tourism and economic potential of the region.

Flying affordability

Being built as part of the government’s regional connectivity scheme, the planned airport in Jewar is expected to provide travelers reasonable options.

Windfall for landowners

As the state government is intense to develop infrastructure, the land acquisition process will be easy further, resulting in bigger financial benefits for Jewar’s landowners. Around 2,378 acres of land has already been attained to develop the airport. Plans for providing the area with a Metro connectivity are likely to develop the prospects for investors.

The state government earlier has selected the Yamuna Expressway Industrial Development Authority (YEIDA) as the nodal organization to set up the airport.

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Faridabad 2031 Master Plan gets a green signal

Recently, the Haryana government has approved the Master Plan 2031 for Faridabad, in order to cater to the growing population in the industrial town. The Master Plan is planned for better usage of land policies, and plan new infrastructural development to improve the livability of the town.

At present, Faridabad’s total population is 14 lakh while the development plan drafted has been prepared to cater to a population of 38 lakh. The development plan covers 34,000 hectares of land, out of which over 14,000 is earmarked for residential use with an average density of 271 per hectare.

Here are few features of the approved master plan 2031:

Sanction of high rise societies
The Master Plan 2031 boosts high rise societies in the town as it would permit access to more open spaces for the residents. While main Faridabad city is dominated by industrial development, the newly developed residential areas between Sector 66 to 89 is also called Greater Faridabad. This sub-region is being established as a sustainable city which has tall buildings, wide roads and entertainment zone with enough employment prospects in industrial areas of Sector 66-74.

HUDA to develop residential areas
Haryana Urban Development Authority (HUDA) will develop those residential areas where private developers have not shown any interest. This includes those areas where residential facilities are not adequate. Apart from this, over 638 hectares have been projected for public utility purposes which comprise of a site for sewage disposal in the east Agra Canal.

Systematic development in rural areas
The draft master plan of Faridabad also takes into account the systematic growth of rural areas in line with the urban localities. Because of geographical restrictions in the west and the north Faridabad, the area beyond east of Agra Canal, south and south-west of the Faridabad town is being planned for the improvement of the additional urbanization area for the additional populace as a part of Faridabad Master Plan 2031.

Maintenance of open spaces and greenery
The Master Plan 2031 highlighting on maintaining green spaces and open areas. According to the plan, the minimum breadth of the roads in a residential colony should be at least 12 meters while the parks or open spaces in a residential colony shall be designed in such a manner that it shall meet the minimum standard of 2.5 sq mt per person. The additional area for infrastructure will be provided in the already projected residential sectors to meet the necessity of the residents.

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Infrastructural development Real Estate Real Estate News Smart Residential Living

Hennur flyover to be ready by December end

Work on the Hennur flyover, which leads towards Geddalahalli in Bengaluru began in 2009, with the Bangalore Development Authority (BDA) promising to open the flyover to the public by July 2010. The Hennur flyover, which is not even a kilometer long, is still showing no signs being anywhere close to completion. But recently, the Bengaluru Development Minister KJ George, Mayor R Sampath Raj, and officials from the Bangalore Development Authority (BDA) visited Hennur flyover to scrutinize the work in progress.

KJ George said it was not possible to complete the work by the projected time due to land acquisition issues. Now, things are in place. The flyover work will be finished by end of December.

Work on the flyover was taken up eight years ago by BDA, but it was hindered midway in 2012. However, in 2016, Minister KJ George at an event publicized that the flyover work would be completed by November 2016, but the work was stopped by the authority due to many issues.

One of the reasons causing a delay in the completion of the flyover has been problems with land acquisition, mainly after the new Land Acquisition Act came into effect in 2013.

However, reports say that the shifting of underground pipes by the Bengaluru Water Supply and Sewerage Board has also delayed the work on the flyover.

The 920-meter-long flyover which was supposed to be completed within 18 months of commencement in 2009, but it never happened. The revised project cost of the flyover went up to Rs 55 crore in 2016, but still, no progress was seen.

The completion of the Hennur flyover is essential for the nearby areas. The flyover is estimated to reduce travel time to and from Kempegowda International Airport for residents of east and southeast Bengaluru.

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Pet-Friendly Homes in India is the new market gimmick

A few years ago it was problematic to find an apartment complex in a main Indian city that would rent to pet owners. Pets were not welcome with authorities mentioning a variety of reasons some valid and some flimsy. Though no law prohibitions people from having pets, and Resident welfare associations have no power to throw out denizens with animal companions.

Today, it is stress-free to find an apartment complex with pet-friendly features and facilities. Acceptance of pets has become more common in both old colonies as well as forthcoming building complexes. Building complexes in localities like Koramangala in Bengaluru, now welcome pets as long as owners warrant hygiene and no trouble to other residents.

The newest rules passed by the Animal Welfare Board of India are in favour of keeping of pets in an apartment or a society. Some of the major points covered by these guidelines are:

• No RWA has the right to prohibition a denizen from keeping pets.
• This ban cannot be compulsory even if a majority of people are in favour of this ban.
• A ban on a pet cannot be based on null and void reasons like a dog barking.
• A ban cannot be hosted regarding the size of pets in a society.
• No society by-law or regulation can authenticate a pet-related ban.

Pet-friendly housing features

But with the changing demographics and rising demand for pet-friendly housing, developers and architects are integrating pet facilities in the design of individual homes. Apartment developments coming up in Bengaluru now feature rooms with pet-sized furniture, custom-built cabinets for food bowls and nooks with heated window seats. There are some complexes that even come with a dog pool separate from the people pool.

Developers are also making special rooms for pets like veterinary clinics, day boarding, dog-walking services, grooming stations, miniature dog parks, and rooftop dog walks with special cleaning systems. Some builders are adding insulation between walls and floors to soften pet noises, mainly barking.

Smart devices to watch over pets

The improvisation of smart technology and home automation has added another dimension to pet-friendly features in apartment buildings. Latest mobile applications allow you to set up cameras in your apartment so you can use your smartphone to check up on your pets while you are away at work.

With the help of these smart gadgets, you can also lessen some of your own fears about what your pet does when you are away.
Technology is also simplifying communication with your pets even if you are not at home. Dual mode pet monitors not only keep a watch over your pet’s activities but also let you communicate with them. All you have to do is turn on the mic on your phone, and your pet can hear you at home and react to you in real time.

Conclusion

After many years of prohibiting companion animals, apartment complexes in many major Indian cities are now accepting and welcoming them. Some developers have even started using pet-friendly features as a marketing gimmick to promote their properties.

Like any additional facility or amenity, pet accommodations experience extra investments and maintenance costs. However, pets are like family and most owners will do anything for them, when it comes to keeping them happy and healthy, irrespective of cost.

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Buying property Real Estate Smart Residential Living

Walk-to-work concept is gaining momentum in Indian Real Estate

The concept of new urbanism and walk-to-work is gaining momentum in major cities. The concept of new urbanism inspires developments such as housing, workplace, and shopping in the vicinity of each other, and walkable streets and blocks and reachable public spaces play a vital part in such developments.

According to Colliers Research, about 90 million sq ft of office space under the different stage of construction across India is likely to complete in the next three years, and to be precise IT-ITeS districts of the cities will promote such walk-to-work concepts in Indian cities.

Bengaluru residential developers have already started trying out the concept of walk-to-work with projects near Whitefield and Hebbal. Integrated developments with schools, colleges, malls and public spaces within 500 mts to 1 km range will further counterpart such walk-to-work growths.

Tier 1 developers are concentrating on integrated developments. Some of the most popular samples of the integrated township are Prestige Shantiniketan and Brigade Metropolis in Whitefield, World Trade Center in Yeswanthpur. More developers are going to join the league.

The Magarpatta city in Pune is also one such successful example of a viable development model integrated with the commercial zone, housing developments, institutions, healthcare facilities and entertaining spaces with best in class infrastructure.

At the same time, Transit Oriented Development (TOD) trends should create a balanced land-use blend with residential developments along the transit corridor that help in succeeding controlled developments within the cities.

With a focus on the creation of mixed-use development in the effect zone of transit stations that are within the walking distance of (500-800 m), TOD is possible to lessen the average travel time and expenditures on transportation.

TOD should also include a facility for public spaces, systematized parking and support foot-travelers, bicyclists and non-motorized transport (NMT) users in cities.

Recently, India has observed a notable economic growth, Indian cities are emerging at a rate faster than other cities in the world. According to the Ministry of Urban Development (MoUD), the urban population in the country, which is approximately 377 million, is expected to grow up to 600 million by 2030.

This rapid development coupled with growing residential and commercial developments has led to many critical significances such as road traffic issues, increased pollution, public safety, and flooding. This, in turn, is weakening the livability quotient in the fast urbanizing metro cities.

While India’s collective annual infrastructure investment amounts to 35% of GDP, the government evaluates that it needs USD 1.5 trillion in infrastructure investment in another ten years. Even this huge amount will possibly only help bridge the infrastructure shortfall rather than create room for future infrastructural development.

As per the study was done by Colliers Research, the real estate developers should also focus on mixed-use developments at city fringes or beyond the city limits to house the overflowing population of the urban region to stabilize population explosion in main cities.

This planning method will not just ease the burden of urban infrastructure but also drive affordable housing as it remains as a distant dream owing to the high land cost in overbuilt areas in the city.

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