Golf-Centric Projects

Ireo Skyon, Gurgaon

Ireo Skyon, Gurgaon

The fast developing Golf Course Extension Road is the ultimate option if you want to experience golf-centric high-end luxury living. The USP of this stretch is good connectivity and quality infrastructural development. With easy approach to NH-8 and South Delhi via Gurgaon-Faridabad Expressway and demand of highend luxury apartments, the developing stretch has made a difference in a very short time.

Why Golf Course Extension Road

Golf Course Extension Road includes new sectors like 61, 62, 65, 66, 67, etc. Most of the development took place on this stretch in the recent past. In new Gurgaon-Sohna Master Plan, 2031, special attention has been given to basic infrastructural developments like widening of existing roads, proposal for a new Gurgaon Link Road to improve fast connectivity, etc. To develop the residential and commercial set-ups, new sectors have also been identified in the recently-approved new master plan.

For inter-connectivity, six controlled areas would be added under the new master plan. With a view to avoid encroachments beyond the connecting road, the Haryana Urban Development Authority (Huda) has decided to develop a 50-metrewide green belt along the road and earmark a 200-metre-wide strip as an institutional belt.

Read more: The Times of India

Gurgaon Tops Realty Charts

Most of the absorption of real estate in the Delhi NCR is likely to be centred around Gurgaon and Noida. A report says that rents are expected to increase in certain micro markets by the second half of 2013, as the demand-supply gap of quality office space is expected to increase because of the supply constraints in select precincts of the Delhi NCR.

Also, prices of residential real estate, particularly in the NCR region, are likely to appreciate in 2013, which in turn will attract more buyers to the market.

Another interesting trend observed in the last two years was that the stock in the range of Rs 2,000-3,000 per sq ft was fast sold out. In 2013, this range is likely to shift to Rs 3,000-5,000 per sq ft with the increase in inflation and construction costs.

Year 2012 closed with a few notes of positivity, as the inflation was below the RBI’s projected levels and the Index of Industrial Production (IIP) growth increased in the last two months of the year, giving new hopes for 2013.

Gurgaon continued to be the frontrunner in residential real estate market with the city registering an upswing in terms of capital values and project launches during the year. Year 2012 saw an improvement in demand over 2011 for residential properties in Gurgaon.

Read more: The Times of India

Housing Property Helps Save On Taxes, Multiply Gains

Timing is significant in financial planning especially when you are looking to earn a profit as you need to know when to take advantage of the increase in value. However, it’s equally important to be careful to avoid paying a huge amount as tax. Amit learned this lesson when he sold his house in Delhi in 2012 within 2 years of purchasing. According to him the property was raking him 60 percent profits, an offer he could not resist. However, he wasn’t aware of the tax implications of his rushed decision. Not only he had to pay a considerable amount of tax on the profit, but also had to let go of the tax exemptions he was availing on his home loan.  If you sell your house within three years of purchase, the tax benefits you are enjoying on your home loan get reversed and are included in your income when you file your income return. After presenting its compassionate side, the Income Tax Act eyes all properties owned by you for taxation.

The Financial Express (Page 10)

Our ground realities must decide Delhi’s vertical limit

Ireo Victory Valley, Gurgaon

Ireo Victory Valley, Gurgaon

Delhi is set to rise taller and redraw its skyline. As part of a mid-term review of the Master Plan last fortnight, an advisory committee recommended that buildings that have a provision of stilt parking should be allowed to go up 2.5 metres higher than the existing limit of 15 metres.

The committee hoped that the new norm would encourage construction of stilt car space on the ground floor and free up encroached public land being used for illegally parking cars. Under the new municipal laws, it is anyway mandatory for all houses that came up after 2011 to have stilt car parking space on the ground floor. But to space-hungry residents’ dismay, that leaves only three upper floors for residential use.

To accommodate more people, Delhi first relaxed height restrictions in 2007, when residential colonies with smaller plots were allowed to go four metres higher than the permissible 11 metres. Essentially a horizontal city, Delhi did build a few high-rises, mainly in business districts, and residential towers in Mayur Vihar, Patparganj and Dwarka.

The proposal to go sky-high is backed by Urban Development minister Kamal Nath who considers it ‘the only option’. The Master Plan talks about high-rise development along Metro lines, green field projects in the outskirts, and in existing residential areas if homeowners pool land and make their plots larger.

Read more: Hindustan Times

A Positive Cut

In a scenario, where a rate cut was expected for quite some time, the RBI’s move has been warmly received by many industry players. “Property consultants and developers have given the RBI’s move a thumbsup. But for the common man, who has been looking for an affordable home, the move by the RBI is to be seen more as a case of boosting the sentiment, rather than one that can bring any immediate advantage,” says Kalpesh Shah, President, National Association of Realtors, India.

“Home loan interest rates may go down but its impact on the EMIs is yet to be known. One can assume that banks and HFCs will pass on the benefit to the customers right away,” says realtor Bharat Malik. “This is a case where the developers, consultants and home seekers might see the sentiments turning positive. But the real question that needs to be answered is whether the fence sitting home seekers will be motivated enough to go ahead and buy a home,” points out Jitendra Mehta, MD, Mehta Group.

Read more: The Times of India

Is housing really infrastructure?

A long-standing expectation of the real estate sector is the coveted infrastructure tag. Any proposal in Budget 2013-14 that favours the idea has to bring on board the central bank that has its doubts

With Budget day less than two weeks away, the real estate sector is hoping that the finance minister will blink this time around to its long-standing demand: giving ‘infrastructure status’. This is a demand stretching back at least two decades with an eye on the benefits that this coveted tag brings along. The single biggest benefit is the easier access to funds.

“To date, the only industries that have enjoyed infrastructure status were roads and highway construction, ports, airports, rapid public transport systems, and so on. Real estate was not granted infrastructure status, despite the fact that it is a significant growth driver for the economy, generating countless jobs and directly catering to the needs of individuals. It is infrastructure in the truest sense, as it deals with building the very framework of the nation and its economy,” says Anuj Puri, chairman and country head, Jones Lang LaSalle India.

An RICS study claims the sector would contribute about 18 per cent to the value add for the GDP by 2020.

Read more: Indian Express

FDI

NCR, Maharashtra got half of total FDI inflows in last 12 yrs

The National Capital Region and Maharashtra cornered over half of the total foreign direct investment inflows of $186.82 billion since April 2000, according to government data.

Maharashtra attracted maximum foreign inflows at $61.23 billion, 33 per cent of total FDI inflows during April 2000-November 2012, industry ministry data (DIPP) showed.

The National Capital Region (NCR), including parts of Uttar Pradesh and Haryana garnered $35.66 billion FDI during the period, which worked out to be 19 per cent of the total flows.

“Modern and improved infrastructure in these regions (NCR and Maharashtra) is the main reason for high FDI inflows. Regions like Karnataka and Tamil Nadu are also attracting foreign investors,” an official said.

Karnataka attracted the third highest FDI inflows worth $10.43 billion during the period, followed by Tamil Nadu ($9.72 billion), Gujarat ($8.53 billion), Andhra Pradesh ($7.58 billion) and West Bengal ($2.14 billion).

Read more: My Digital FC

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