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.

Buying property Infrastructural development Smart Residential Living

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.

Infrastructural development Real Estate Real Estate News Smart Residential Living

Delhi Metro’s Pink Line all set to start operation on March 14

Mar 13,2018 / By Priyanka / No Comment

Good news for Delhiites, the Pink metro Line is all set to begin operation on March 14. According to sources, the Commissioner for Metro Rail Safety has finished the inspection of the Majlis Park-Durgabhai Deshmukh South Campus section, inspect the section, including fire safety clearance, license for working lifts, preliminary independent safety assessment reports for signaling and platform screen doors (PSDs), has given the clearance for the project.

The trial runs and testing on this stretch was successfully completed in earlier February. These trial runs were being conducted to test the new signaling technology.

Azadpur Station (with Yellow Line) is one of the three interchange stations on the Pink Line stretch that opens tomorrow, the other two being, Rajouri Garden (Blue Line) and Netaji Subhash Place (with Red Line).

The 21.56 km-long Majlis Park–Durgabai Deshmukh South Campus Metro corridor will be formally flagged off by Union Minister for Housing and Urban Affairs (independent charge) Hardeep Singh Puri and Chief Minister of Delhi Arvind Kejriwal on 14 March at 4 pm from the Metro Bhawan.

According to sources, Passenger services on the Pink Line will begin from 6 pm onwards on the same day from both Majlis Park and Durgabai Deshmukh South Campus stations instantaneously. The end-to-end commuting time on this section of the Pink Line would be approximately 34 minutes.

This section, which has 12 stations, is part of the 59 km-long Majlis Park-Shiv Vihar corridor (Pink Line–Line 7) of Delhi Metro’s Phase 3. All the stations have platform-screen doors.

The stations are—Majlis Park, Azadpur, Shalimar Bagh, Netaji Subhash Place, Shakurpur, Punjabi Bagh West, ESI Hospital, Rajouri Garden, Mayapuri, Naraina Vihar, Delhi Cantt and Durgabai Deshmukh South Campus.

Out of the 12 stations, eight are elevated and four are underground. As with the recently-opened Magenta Line, broad-sized coaches from the new rolling stock will be used on the standard gauge Pink line.

The new Netaji Subhash Place station, which is semi-underground, has been sophisticatedly decorated with paintings on walls. All the stations have been certified as ‘Platinum’ by the India Green Building Council, the DMRC said.

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.

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Category : Infrastructural development

Is it worth investing around Pune’s new Airport?

KTR opens underpass at Mindspace Junction: Major relief to techies

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

Delhi Metro’s Pink Line all set to start operation on March 14

Upcoming roadways will boost the real estate sector in Bengaluru