Gurgaon way ahead of rest of NCR in luxury housing

Living and Dining Room at Ireo Gurgaon Hills

Demand for luxury residential facilities in Gurgaon is expected to soar in the coming four years, says a recently held housing survey by a real estate consultancy firm.

NCR is expected to witness the highest demand for houses in the country at 381,000 units during next four years. New arrivals to the NCR, mainly connected with the IT, services and industrial sectors, have contributed to the hike in housing demand, which is expected to further rise with the influx.

While the mid and low segment apartments will be most sought after in the overall NCR, Gurgaon will continue to see significant rise in luxury housing segment. Here, the focus is more on high-end apartments. “Gurgaon is emerging as a hotspot for luxury residential housing with some projects selling at around Rs 30,000 per square feet, while most other high-end projects are selling at around Rs 14,000 square feet on an average,” said a Cushman & Wakefield’s spokesperson.

Read more: The Times of India

18% of housing demand to come from top 8 cities: C&W report

The total new demand for residential dwellings during 2012–16 will be 11.8 million units across India, according to real estate consultancy Cushman & Wakefield.

Of this demand, top 8 cities will account for 18 per cent or 2.1 million units across categories.

The annual report “Evolving Paradigm – Future of Indian Real Estate” has been bought out in association with Global Real Estate Institute (GRI). The GRI is a global club of senior real estate investors, developers and lenders.

Of the demand in the top eight cities, the requirement in mid-segment is estimated to be highest at approximately 59 per cent or 1.3 million units, followed by demand in the high-end segment which is 4,51,000 units. The low-end housing demand is expected to be 3,62,000 over the next five years.

Sanjay Dutt, Executive Managing Director, C&W India, in a statement said, “The demand creation in leading 8 cities is reflective of the economic strength that these cities have. We see a higher demand in the mid-ranged segment in these cities.”

The total demand for housing units is expected to increase at a compounded annual growth rate of 2.8 per cent across India, with Bengaluru expected to record the highest demand growth of 4.1 per cent followed by Pune and Hyderabad.

NCR is likely to see the highest demand of 381,000 units in mid and high-end segments during 2012 – 2016.

Read more: Business Line

Additional housing demand likely to be 2.1 million units in 5 years: Cushman & Wakefield

Major Indian cities are estimated to see additional demand for housing around 2.1 million units in the next five years and more than 50% of this will be in the mid-income segment, property consultant Cushman & Wakefield said in a report.

Around 18% of pan-India additional demand during these five years is likely to be concentrated across the top eight cities including Mumbai, National Capital Region, Bangalore, Chennai, Pune and Kolkata.

Of the total additional demand in the top 8 cities, demand for mid-income housing is estimated to be highest at 1.3 million units, while high-end segment demand is estimated to be 451,000 units and 362,000 units in low-end segment.

Read more: The Economic Times

Infrastructure/Transportation

Delhi-Gurgaon expressway: No toll during rush hours till October 8

Commuters pass through a Delhi-Gurgaon Expressway toll plaza uncharged, following a court order. (PTI)

The private vehicles plying on Delhi-Gurgaon expressway would continue to enjoy free ride during the peak hours as the Punjab and Haryana High Court today ordered to maintain the status quo.

The Delhi-Gurgaon expressway concessionaire will collect toll tax from the motorists, except during the peak traffic hours of the day.

On the previous hearing on September 28, relaxing its earlier order dated September 4, when the concessionaire had been barred from collecting the toll tax, a Division Bench of Justices Satish Kumar Mittal and Inderjit Singh had ordered that no toll would be charged from 8:30 AM to 10 AM and from 5:30 PM to 7 PM every day.

The orders had come into force from 7 pm onwards from Friday last and after the Court’s today’s direction they will remain in force till October 8, when the court will again take up the case.

Read more: The Economic Times

Rapid Metro trial runs in Gurgaon from today

The trial run for the Rapid Metro which will augment connectivity within Gurgaon will commence from Tuesday.Haryana Chief Minister Bhupinder Singh Hooda will lay the foundation stone for the extension of the project by 7 km up to Sector 56 Golf course road, from Sikanderpur. The new route will be between DLF Phase III to sector 56 Gurgaon.

“Touching prominent locations of the Millennium City such as Ambience Mall, Cyber City in DLF Phase III and DLF Phase II, the Rapid Metro will facilitate smooth interchange with Delhi Metro at Sikanderpur,” a Rapid Metrorail Gurgaon Ltd (RMGL) spokesperson said.

The Rapid Metro is expected to begin operations in March 2013.

See article: The Pioneer

Elevated BRT corridor in west Delhi on the anvil

For the first time in the national Capital region, the proposed elevated Bus Rapid Transit (BRT) Corridor in west Delhi will provide a seamless interchange between the road transport and the Delhi Metro network. With a bus station at Dwarka More Metro station, the exclusive BRT Corridor for buses will transfer the bus passengers directly to the Metro network. The Corridor with five bus stations — Dwarka Metro Station, Nangli Sakrawati, Nangli Vihar, KBI Park and KBI Park, Baprola – will provide connectivity to the Knowledge Business Park at Baprola. According to the officials, the Corridor will cater to the huge rush of traffic, which the knowledge park is expected to generate.

According to the Detailed Project report (DPR), the 9.7-km corridor between Dwarka Metro Station and Mundka via Baprola is expected to meet the daily travel demand of 1.54 lakh passengers by 2016 and 1.89 lakh passengers by 2021. “Being an elevated BRT Corridor, the approach to the bus stations will be from the either side of the road through staircases and escalators, which leads to the unpaid concourse. Strategically located lifts and escalators have been have been proposed for elderly and differently-able persons from concourse to the platform. A tactile flooring path has been dedicated for the visually impaired. While the first phase of the corridor between Dwarka More and KBI Park, Baprola is expected to cost Rs 335.62 crore, the entire project cost is estimated to be Rs 738.93 crore,” said Shakti Sinha, Managing Director, Delhi State Industrial and Infrastructure Development Corporation (DSIIDC).

Read more: The Pioneer

Environment

Gurgaon and Manesar plants discharge zero pollutants, says Maruti Suzuki

Carmaker Maruti Suzuki claims to have decreased its per car water consumption and its production plants have become zero discharge facilities — no discharge of pollutants into the environment.

The company’s Gurgaon and Manesar facilities are zero discharge facilities and per car water consumption has been drastically brought down by 61% at Gurgaon and 56% at Manesar, an official said Wednesday.

The company says its water conservation efforts have given it a competitive edge in large scale operations with minimal impact on scarce natural resource like water. “Through numerous continuous improvements in systems and production processes, both the Maruti Suzuki facilities at Gurgaon and Manesar have successfully brought down their per car water consumption substantially, while production volumes have increased over these years,” said the official report. The company meets 41% of its total water requirements through recycling.

Car plants across the world generate waste water at their paint shops, engine and casting units. Through an effective water treatment system, Maruti Suzuki is able to reuse the water back in the production system.

See article: The Times of India

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