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Insights on Kolkata Residential Real Estate Market

Jul 2,2019 / By / No Comment
Pioneer Property

Insights on Kolkata Residential Real Estate Market

Kolkata, traditionally an end-user driven market has exhibited vibrant growth in the residential real estate market in the past few years. The core city grows exponentially over time both towards north and south directions with corresponding development of social and civic infrastructure because of population explosion and fast urbanization. It has been the driving force for sustainable demand for affordable residential properties in and around Kolkata. The realistic value proposition for the residential units, strong market foundation, and relatively stable political scenario have given a competitive edge for Kolkata over the other metro cities in India. The introduction of HIRA (Housing Industry Regulatory Authority) from 1st June 2018 has further strengthened the market nerves in terms of transparency, accountability, and trust. It has been recorded that the majority of the ongoing residential projects and just completed projects from reputed builders in city and suburb locations have been showing steady absorption over the last few quarters. Kolkata has witnessed many new launches especially around the city suburb areas like Birati, Madhyamgram, Barasat, Belghoria, Sodepur, Barrackpore, etc. in the north and Garia, Boral, Narendrapur, Baruipur, Behala, Thakurpukur Joka etc. in the south side of the main city to meet the continuous demand from the buyers. The BT road and Jessore road are the major northern suburb thoroughfares which have seen rapid construction activities due to gradually improving transport and civic facility and the availability of suburban railway network running parallel to these roads. In the southern suburbs, the fast development and metro connectivity alongside the long stretches of Diamond Harbour Road (Joka, Thakurpur, Amtala) and NSC Bose Road (Tollygunj-Garia-Baruipur) have been instrumental for its transformation as a preferred zone of affordable residential settlement. The PMAY (Pradhan Mantri Awas Yojna) scheme of affordable housing has also stimulated the overall market demand.

The transaction of properties in Rajarhat-New Town area is also taking right pace as the entire locality gradually upgrade its basic infrastructure, offerings of social amenities during last few quarters. Moreover, smooth connectivity and the proposed expansion of metro railway network to link the core city and other suburban areas give added feature for the ongoing and upcoming properties to attract the potential buyers. Additionally, this satellite township continued to draw the attention of the IT professionals due to its proximity to Salt Lake Sector V, the well-developed IT hub of Kolkata.

The EM Bypass and adjoining neighborhood have rapidly changed the skyline of the eastern fringe areas of the city during last decade and still continue to attract the hi-end buyers with the superior residential projects amidst of greenery and excellent all-around transport connectivity. The upcoming Garia-Airport Metro connectivity has also increased the demand for properties. The premium residential projects around the well-established posh localities in Kolkata like Alipore, Ballygunje and some selected south-central city locations generate limited supply targeted for a niche segment of citizens in Kolkata with a steady appreciation of property value backed by sufficient demand.

Yash ji

Insights by – Yash Vardhan Kejriwal
Executive Director – PIONEER PROPERTY MANAGEMENT LTD.

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blog Life at home Real Estate Real Estate News Right Step Smart Residential Living Tips

Gated communities and security systems

Jun 7,2019 / By / No Comment
Home_Security

Gated communities and security systems

Gated communities have been a popular choice among Indians for reasons more than one. From facilities provided to the sense of security that these societies give the residents, such complexes have it all. More Indians today than ever choose to become nuclear families and move into gated communities to ensure the safety of their children.
However, since the shocking incident of rape of a minor girl in a Chennai apartment complex last year, the safety of such communities is being questioned by everyone, including the residents themselves. The safety concerns arise from the fact that most residents are unaware of who is entering and leaving the society premises. Moreover, the staff (security guards, plumbers, etc.) in these complexes are contract-based and change from year to year. Together these factors give rise to the question:

Are children and adults, alike, safe in gated communities?

Housing societies across India have decided to answer the question above themselves through the installation of various security technologies. While some have pooled in money to install CCTV cameras in and around their complex, some others have invested in biometrics to ensure the safety of the residents. One such housing society is Savita Enclave at Mira Road, Mumbai.

Savita Enclave can be considered as a pioneer among the housing societies in Mumbai as far as security measures are concerned. The complex implemented CCTVS, biometric system, and grill front doors in all of its apartments in as early as 2011. With an all-inclusive expenditure of over INR 2 Lakhs, the housing society has ensured that no one other than the residents enters the premises. Their support staff and outsiders will need to use the intercom system.

Read more about Savita Enclave’s initiatives here.

At CommonFloor, we continue from where Savita Enclave other such communities stopped. Our application ‘SmartGuard’ by CommonFloor Groups allows the members of the housing societies to form a close-knit community all interconnected in a single app. With features like event calendars, polls, online notices, and many more, residents can collaborate efficiently and effectively. Moreover, online visitor management becomes hassle free and a fool-proof practice with the SmartGuard mobile app. The application enables tracking all visitors (guests, staffs, and vendors) entering the premises through instant online reports.

Summary

Safety and security is a priority irrespective of the type of household or residential area. Gated communities give out the illusion of protection through the presence of guard and a visitor’s logbook. However, with the rising crime rates in the nation, security technology is the best bet we have to ensure the safety of the residents.

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blog Infrastructural development Real Estate Real Estate News RERA Smart Residential Living

Amaravati Smart City

Apr 25,2019 / By / No Comment
amaravati smart city

Amaravati Smart City:

Since smart city mission is one of the biggest targets of the digital age in India led by Prime Minister Narendra Modi has launched the smart city mission on June 15, 2015, which can be described as the strength to blend various technological solutions in the safest way possible to control the city services and wealth. Smart city ambition will raise the standards of infrastructural development around India. The consolidation of technology mated with physical infrastructure and services can simplify the lives of residents and that’s how smart city missions are expected to create a drastic change in the Real Estate sector around India. Due to the smart city mission, the demand for the surrounding areas has also been increased. For example, if we consider Amaravati, cities like Vijayawada, Hyderabad will increase its demand In Real Estate Sector.

Smart city mission is expected to in turn the infrastructure of India by attracting the establishment of several MNC’s that will generate the employment opportunities that result in high residential demand. The smart city mission will also provide multiple affordable housing opportunities for low-income groups and economically weaker sections. Such factors will increase the opportunity to the developers to establish new projects in the upcoming smart cities because the mission will allow an attractive investment opportunity with a range for price appreciation and high return on investment.

Capture amaravati

Amaravati is one of the latest India’s smart cities which is the capital of the Indian state, Andhra Pradesh. It covers an area of 217.23 sq. km., within Andhra Pradesh capital area and placed on the southern banks of the river Krishna in Guntur, Krishna districts. Its smart city framework will include tissue optic connectivity and smart architecture. Amaravati smart city consists of many new ideas that are significant for a large city including modern waste collections and managing the ecological balance within the green spaces. This capital city could be the test model for India’s infrastructural development.

Some of the conspicuous features that are exacted to be in  Amaravati smart city are:

1. Endorsing mixed land use in area-based developments and ensuring sustainability all over the city

2. Expanding housing possibilities for all

3. promoting walkable localities by conserving and beautifying open spaces and growing a vibrant economy

4. Giving an identification to the city based on its basic economic activities such as health, culture, education, etc.

5. Practicing smart solutions to infrastructure

Till date, Amaravati had completed its interim secretariat building in a 49-acre area that signifies the temporary assembly. According to the timeline of this smart city project, Andhra Pradesh’s capital will be functional only by 2024 that will be the end of its second phase, where most of the industrial establishments will display operational and the third and final phase is expected to complete by 2029.

 

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List of approved agents and projects – Rajasthan RERA

Apr 22,2019 / By / No Comment
Rajasthan_Rera

Rajasthan is among the 3rd most active states in the implementation of RERA. Rajasthan RERA Rules have been notified and the website was launched on June 1, 2017.

The additional Chief Secretary of the Urban Development and Housing Department has been designated as the interim regulatory authority and the Food Safety Appellate Tribunal as the interim appellate tribunal by the State.

As many as, 868 ongoing projects have been successfully registered with the regulatory authority and 761 real estate agents/brokers have received the registration certificate under this act. Till date, the authority has resolved only 6 complaints.

List of approved agents for Rajasthan RERA: Click here to view

List of approved projects for Rajasthan RERA: Click here to view

Irrespective of these proved projects/agents, RERA has rejected several real estate projects as well.

Residential projects in Jaipur

Residential projects in Udaipur

Residential projects in Jodhpur

Residential projects in Barmer

Disclaimer: the data provided here is based on industry and news reports. CommonFloor will not be Legally responsible for any action taken based on the information provided.

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blog Real Estate Real Estate News Right Step Smart Residential Living Tips

Ground-breaking technology for saving the environment in India

Apr 22,2019 / By / No Comment
Rain_Water_Harvesting_01

Ground-breaking technology for saving the environment in India

Innovation and technology have made life easier for us humans today. But the question is, can technology also save our environment? Today with the growth of population, urbanization is increasing rapidly. And with the humdrum of busy lifestyles, people often become careless about the environment. In India, pollution is an enormous threat to the environment. But the good thing is, numerous housing societies and even our government have opened their eyes to this threat. With the usage of innovative technology today, we are moving towards a better future.

New technologies and initiatives in India for saving the Environment

With the Swachh Bharat Abhiyan initiated by prime minister Shri Narendra Modi, our government has taken a huge step. This all-India cleanliness campaign has so far been successful in spreading awareness about clean water and sanitation. Other than our government, even Indian entrepreneurs, start-ups and societies are coming forward to help. According to a recent report in Times Of India, the Roseland Residency is one among those societies in Pune.

Rainwater harvesting project in Roseland Residency

With the rainwater harvesting project implemented by the Roseland Residency, their dependency on water tankers has lessened. The project that started in 2009 with six buildings, now has rainwater harvesting in eight to nine buildings. This project is extremely environment-friendly and reduces the money spent on tankers too. With the success of this project, Roseland residency won the Swachh Bharat Abhiyan award in RWA category.
According to the article published on TOI, chairman Santosh Maskar spoke about receiving less water from PCMC. With 1000 flats in 30 buildings the demand of water supply is constantly increasing. Today, with the help of their rainwater harvesting project, the groundwater levels have increased sufficiently. Now they can draw water from the borewells and don’t have to depend on the water tanks.
The best part is, many other societies have started to implement rainwater harvesting techniques too, the reason behind this being the success of the project in societies like Roseland residency. Societies like Kunal Icon Housing Society and Rosewood Apartment in Pune have implemented it too. Maskar has said that he is looking forward to helping other societies too.

Future of waste management and sewage recycle

Recycling sewage waste, providing high-tech biogas technology to managing solid waste, technology has made everything possible today. Today, the latest technologies gaining popularity are:

  • Reverse osmosis membrane technology is used by the industries today which provides zero discharge while recycling.
  • High-Tech technological products provided by Green Nerds has brought solutions for waste management.
  • Vermiculture biotechnology provided by Vermigold company today helps to recycle organic waste hands-free.

In conclusion, it’s high time that we all take our environmental issues seriously. Fortunately, with awareness and technological advancement, we can still bring a change. Nagpur is soon going to become the first city in India to recycle 90% of sewage water. And with the right resources, all the other cities can too. But first, let’s start the change with our own societies.

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