The festive season with brand new homes!!

The Indian real estate sector has demonstrated a noteworthy resilience to the commotion in Indian economy over the recent past. During this period, the realty sector has also been steadfast on the way towards maturity and being constructively regulated. A recap of last few months vouches that the Indian realty has witnessed favorable reviews of policies by the central bank, regarding borrowings, novel prospects of investments and encouragement to FDI and NRI investors. Moving forward, the real estate sector is estimated to uphold the positivity and growth with the advent of festive season in the remaining period of 2013.

The developers are gearing up for further expansion and growth while the Diwali season is around the corner. The Diwali festival has been known for the joy and bliss that it brings along with it. It has been a customary practice to celebrate Diwali with substantial investments for asset creation, as the legend inspires positivity and hope for a brighter future. Diwali season is recognized to be an auspicious period that brings productivity along with it. As a result, the developers and property consultants encourage the home aspirers to be privileged by owning their dream asset during this time. This privilege is qualified with the discounts and festive offers that the realtors propose offer on under-construction and ready to move-in residential units. The offers include freebies like complimentary parking, discounts on per square foot prices and preferred locations of abodes with no extra charge, amongst many others.

Along with Diwali season knocking at doors, the latest RBI regulation that proposes to link the disbursal of loans with the completion stages of the projects is further expected to induce solidity in the realty market. This is the time when the home aspirers can safely invest in the realty market and own a suitable property for various objectives. The investment prospects have been bright due to the availability of cheaper land and built-up homes in the sprawling outgrowths of metro regions. Moreover, the ready to move in apartments in the mid-end segment are being developed in huge numbers. The good numbers of available homes and the festive discounts in the realty market have come at a promising juncture wherein the buyers are hopeful for better realty deals and the developers expect to receive increased demands from aspirers.

 

The growth and expansion in the Indian real estate sector has hovered around the deliberate efforts by the sector and the coincidental factors in the recent past. The leading developers have been introducing innovative realty solutions like integrated projects, serviced/studio apartments and green buildings. Subsequently the demand and preferential trends have also undergone a transformation and the quantum of demand for novel concepts of habitation has witnessed a considerable hike. Parallel to this innovative drive of assets, the currency exchange rate and the outreach of leading Indian realty brands have been successfully attracting FDI and NRI investments in the realty sector.

The next few months which are full of festivals (Diwali and Christmas), bring optimism for a reinvigorated growth for realty business for the year ahead. 

Gurgaon to go eco-friendly

Gurgaon, the pivot of commercial surge in the state of Haryana has been growing at an unprecedented pace since a decade now. Real estate sector has simultaneously throve and cashed upon the raising demand of residential units due to the immigration of working population. So hence forth, accommodation of this professional sector has turned Gurgaon into a forest of concrete. From commercial to residential and mixed land use pockets have been jam-packed with commercial turrets and condominiums.

Gurgaon lodging farmhouses in today’s world sounds inconceivable but it is quite near to be a reality. The state government has decisively planned to formulate the policy for a farmhouse colony in Gurgaon. A 100 acres are supposed to be demarcated to habilitize this colony with each farmhouse to be of a size of 1 to 2.5 acres. The township is envisioned to accommodate about 20-30 farmhouses which will be a role model in today’s polluted and clogged commercial/satellite agglomerations.  In true sense of the notion ‘planned’, this town ship is projected not be an erratic expansion of green enclosures but intricately planned and positioned with the essential infrastructure in and around it. Let’s probe into the provisions of the drafted policy for this farmhouse colony in Gurgaon.

Bound by 6 feet wall, the farmhouse colony will be gated. However, no such boundaries will be permitted inside the colony. Each plot will be segregated with barbed wires and fences. Only Eco-friendly layouts and structures are planned to be permitted inside this colony. The government is striving to make sure that this up-coming space of farmhouses is not used for commercial gains by using it as venues of collective functions and junctures.

A revamped change of land use policy has been in demand for a long time by the realty sector and land owners. Under present provisions, owners of farmland in an agricultural zone can convert this land into a farmhouse by obtaining permission. However, there are tiresome hurdles for such endeavor where the individual aspiring to obtain permission actually becomes a victim of red-tapism. Moreover, even if the permission was granted swiftly, specific provisions are prohibitive to set up a farmhouse on one’s own land. The requisite of a minimum of two acre land to set up a farmhouse is a candid instance of these provisions. Looking at this yet to be ratified farmhouse policy, such obstacles will be scrubbed and a whole new expanse of real estate braced with infrastructure is soon to be a reality.

So far no such conversions of land use have been possible owing to the contentious land use policy and security concerns in this part of Haryana. However, it is envisaged that this colony will be founded upon a well-planned infrastructural investment to be securely sustained for a long time. Equipped with connecting roads, electricity, water and other exigent amenities, the farmhouse colony will be a gasp of fresh air around the outskirts of Gurgaon.  

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