Land acquisition for Namma Metro Phase II is turning out to be a costly affair

Mar 16,2018 / By Priyanka / No Comment

The corporation has recognized 10,20,200 square mt (102.02 hectares) of land for implementation of the phase and as per the detailed project report (DPR), Rs 5,000 crore has been set aside for the procurement of government and private lands.
Out of this, about 6,45,964.93 sq mt of land has been acquired (1,87,892.63 square mt of government land and 4,58,072.30 square mt of private land), 3,74,235.07 square mt of land is yet to be acquired.

Of the Rs 5,000 crore, the BMRCL has already paid around Rs 2,704.82 crore for acquiring 60 percent of the land since the beginning of the work and they are yet to acquire rest 40 percent of land for the second phase of Namma Metro, Bengaluru. The land acquisition cost for Namma Metro Phase II is turning out to be a costly affair for BMRCL.

Going by the statistics about the land acquired obtained through Right to Information Act, the corporation has reserved about 18 percent of the funds of the total estimated cost of Rs 26,405.14 crore for phase-II. Of the 18 percent, 10 percent has already been spent on land acquisition.

Meanwhile, the BMRCL had spent about 2,305.90 crores on the acquisition of 12, 76,338.27 square mt of land for implementation of Metro phase-I for 42 km. It had obtained 71 government properties and 999 private properties for implementation of Phase-I. The projected total cost of the Namma Metro Phase-I was Rs 11,609 crore, but it was changed to Rs 13,845 crore later. As per the details, about 16 percent of the total cost of the project was spent on land acquisition for phase-I.

Special Land Acquisition officer, BMRCL, Mr. Channappa Goudar said the corporation has acquired about 54 percent of the land required for implementation of Namma Metro Phase-II and land for depots is yet to be acquired.

The new phase of metro is expected to be completed by March 2021 as per deadline set by BMRCL. Ahead of this, the real estate community looking forward and say investment in property along the corridor will give good investment returns. The demand for both residential properties and commercial properties in the region are expected to upsurge. Once Namma Metro Phase II is completed, the neighborhood along the corridors is expected to see a great impact on real estate sector in the city.

Buying property Real Estate Real Estate News

Most preferred Cities for NRI Investment

Mar 8,2018 / By Priyanka / No Comment

Non-Resident Indian are often in a dilemma when it comes to investing in properties. They have a budget but have little idea about the supply in various cities of India. At times property buyers’ end up buying properties that they were not searching for in the first place. Thus, it is necessary to know the demand-supply graph in the locations of your choice so you can make the right decision.

Mumbai: It is one of the real estate markets where the supply of flats is quite high. The price is on the higher side but the availability of flats is not an issue in this city. Home buyers mostly search for flats followed by houses, plots, villas, and penthouses in Mumbai.
The city has witnessed vertical growth which is the only solution for Mumbai which is not only highly populous but has seen significant demand for residential housing. Here it remains a challenge for experts to increase the supply so high-rise construction is the trend in Mumbai.

Bengaluru: Bengaluru real estate market has witnessed a growth in urban population owing to demand from the IT/ITeS sector. Flats are the most supplied property type in the city. IT professionals mainly prefer apartments in Bengaluru where rates are on the higher side and availability of land remains problematic.

Pune: In this city, under-construction properties witnessed equal preference as ready-to-move-in properties. This means that sales are not focused on only one segment.

Delhi: The demand for the housing sector in Delhi has undergone alterations over the years due to change in the availability of properties. As the property prices are a bit on the higher side, homebuyers prefer flats over independent houses.
For those who cannot afford apartment complexes or independent house can opt to purchase builder floor apartments which are available across the city.

Chennai: Investing in Chennai real estate market is considered a safe investment because of the fact that there is unending demand for homes driven by the notable industrial mix including technology, healthcare, automobile, and manufacturing sectors. Areas in the southern part of the city are touted to be fast growing.

Buying property Infrastructural development Real Estate News Smart Residential Living

Upcoming roadways will boost the real estate sector in Bengaluru

Mar 6,2018 / By Priyanka / No Comment

Bengaluru India’s information technology capital will soon have new roads that would make the inter-city connectivity faster and easier, if all goes as planned. One of the many complaints that the denizens of Karnataka have is that roads in the city are really small when compared to major cities such as National Capital Delhi.

Recently, Minister of Road and Transport Nitin Gadkari publicized investment of Rs 1.44 lakh crore in road infrastructure of Karnataka that will take place in two years; the Central government had also permitted highway projects in the state worth Rs 2,920 crore.

Widening of the Bengaluru-Mysuru Highway

The National Highway Authority of India (NHAI) will soon start with the road widening work on NH-275 on the Bengaluru-Mysuru section of the Bengaluru-Mallapuram economic corridor at a cost of Rs 2,919 crore.

Presently, the road is four-lane and witnesses huge blocking at Maddur, Mandya and Srirangapatna. The road widening will reduce the commuting cost and time, mainly of heavy traffic plying in the region. The project holds an employment prospective of 248,000 man-days during the building period of the corridor.

The Chennai-Bengaluru Expressway

The 268-km expressway would pass through three states, Karnataka, Andhra Pradesh and Tamil Nadu. It will start at Hoskote in Bengaluru and would end at Sriperumbudur in Tamil Nadu. It will run parallel to the NH-4 and would carry 45,000-60,000 passenger cars in a day.

The construction on this project is expected to start by next month as the land acquisition is completed in Karnataka. The road will be built in five segments, Bengaluru-Kolar, Kolar-Palamaner, Palamaner-Chittoor, Chittoor-Kanchipuram and Kanchipuram-Chennai.

The Bengaluru Ring Road to Tamil Nadu

The Satellite Town Ring Road is projected to connect Tamil Nadu with the Bengaluru city. The NHAI will complete the project work and the project would connect Bengaluru’s Hosur to Tamil Nadu by joining the NH-4 and the NH-7 under the Bharatmala project.

This Ring Road will go through Hosur, Anekal, Kanakapura, Ramanagara, Magadi, and Dabaspet. The total length of this Ring Road is approximately 140 km in Karnataka and 45 km in Tamil Nadu. The tentative cost of the project is Rs 10,000 crore.

Buying property Real Estate Smart Residential Living

Kohinoor Falcon bags “ET Now presents Best Residential Property Of The Year 2018” award

Feb 20,2018 / By Priyanka / No Comment

Kohinoor Falcon bagged ET Now presents Real Estate Awards 2018 under the category of Residential Property Of The Year. The Award was held at Taj Lands End Mumbai on 15^th February 2018. On this occasion Mr.Nilesh Laddad, Director, Kohinoor Group Pune Mr. Kishore Gore, V.P. Sales and Marketing were present.

Kohinoor Falcon is a high rise residential building with an area of 2.22 acres with 80% open space and 20% construction. Based on the concept of Smart and Sustainable home, Falcon is a smart collaboration of location, space, and smart design.Falcon was designed to enhance the views from all the sides of the building and has excellent connectivity to the major IT hubs and other important parts of the city.Kohinoor Falcon is a classic example of delivery ahead of time.The project was delivered ahead of committed time, actual delivery is scheduled on March 2018, whereas the possession was given in January 2018.

Strategically located at Pashan Sus Road, Kohinoor Falcon comes as a big advantage of location, which cuts on traveling time, giving more time at home.This carefully crafted project enhances the lifestyle of the residents giving them the maximum space for recreation.

Speaking on the win, Mr.Vineet Goyal, Joint Managing Director, Kohinoor Group Pune said, “This is a proud moment for us. Kohinoor Group has a reputation for delivery on time and in certain cases much ahead of time. Kohinoor Falcon is a classic example of delivery ahead of time. The group believes that customers are very important and the best gift that they can give is giving them the possession of their home in time. This award is proof of our long-standing commitment and dedication towards creating projects of high quality, value, and design. Its a joyful moment winning award consecutively, Kohinoor Grandeur was awarded Best Residential Project by Realty Business Achievers Award”

About Kohinoor Group Pune

Over the past three decades, Kohinoor group has built growth and high stature through consistent quality parameters that have truly made a significant difference to comfort, ease and upscale the lives that inhabit Kohinoor spaces. The group has developed 29 projects at strategic locations across Pune’s skyline aggregating 4 million sq. ft. of spaces and another 3 million sq. ft.is in the making.

Playing the role of pioneer, the group has introduced Pune to concepts like Nano homes which has redefined the outlook towards affordable and space optimized homes. The group is also renowned to have delivered projects on time and in certain cases ahead of the committed schedule.

Buying property Real Estate Smart Residential Living

Warangal Emerging As A Promising Real Estate Market

Feb 20,2018 / By Priyanka / No Comment

Warangal is around 148 km from Hyderabad city, is gaining its momentum as a future investment destination for property buyers. The city is likely to emerge as the second capital of the state of Telangana. K T Rama Rao, The Minister for Industries, IT and Municipal Administration and Urban Development (MAUD), recently announced that the government would be assigning funds to develop Warangal on par with Hyderabad.

Development plans by the district administration and Greater Warangal Municipal Corporation (GWMC) funded by the capital support of Rs 5,000 crore for the next two years, Smart City plans, with an assessed fund of Rs 2,750 crore and a new Master Plan by March 2018, have been suggested.

Recently, the government, released the ‘Warangal Vision Document 2028′, is targeting to attract investments and increase economic activities, and employment, in IT, ITeS, hospitality and tourism sectors in the urban areas and food processing and textile in rural areas, which will surely affect the real estate industry as well.

A smart city

The urban group of Warangal is evolving at a rapid pace. The city effectively made it to the second list of proposed Smart Cities in 2016 and the implementation work will be managed by the Greater Warangal Smart City Corporation Limited.

The Greater Warangal Municipal Corporation and Kakatiya Urban Development Authority (KUDA) have major plans to develop the city with a focus on the needs for the next 50 years. This will comprise the development of mega townships, multi-level car parking projects, smart roads worth Rs 74.80 crore, rooftop solar project, a ropeway project and many other projects.

Infrastructure in Warangal

The National Highway-163 or Warangal-Hyderabad highway connects the city of Warangal to central and eastern Hyderabad. The development of this corridor is a huge driving factor for the growth of real estate market along the stretch.

Warangal is one of the major railway junctions in the country. Road transportation provided by the Telangana State Road Transport Corporation and private operators guarantee hassle-free traveling within the city.

To meet the civic infrastructure needs of the rising population, the Warangal Municipal Corporation will get assistance in the form of Rs 300 crore from the government.

The Telangana government has also sanctioned funds for road and infrastructure projects such as Rs 669 crore worth 69-km Warangal Outer Ring Road (ORR) that will boost the connectivity to the National Highways and smaller towns.

Education and job opportunities

Warangal has a flourishing economy and is known for its premier educational institutes such as NIT Warangal and Kakatiya University, bustling tourism sector and emerging industrial hubs such as the Mega Textiles Park.

It offers what other metro cities offer – a well-developed social infrastructure and a host of career and employment opportunities. Many educational institutions and information technology companies are seeing the city as a good alternative to Hyderabad and establishing their base in Warangal, a situation that will directly push the rental and housing demand in the city.

The state government is also aiming at encouraging investment in industries through special incentives and plans for decentralization of districts in terms of industrialization.

Properties in Warangal

Land prices have seen a rise in recent years along the emerging industrial corridor of Warangal – Hyderabad Highway and ORR. There are plenty options available for investment from residential to commercial spaces as well as plots.

Some popular localities in Warangal are Hanamkonda, Kazipet, Kothapet, and Subedari. Residential properties in Warangal have an average capital value of Rs 2,400 per square foot. Spacious homes ranging in size from 1,200 sqft to 1,500 sqft are priced within the price bracket of Rs 30 lakh to Rs 40 lakh.

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Category : Buying property

Land acquisition for Namma Metro Phase II is turning out to be a costly affair

Most preferred Cities for NRI Investment

Upcoming roadways will boost the real estate sector in Bengaluru

Kohinoor Falcon bags “ET Now presents Best Residential Property Of The Year 2018” award

Warangal Emerging As A Promising Real Estate Market