Jaypee Infratech promises 5,300 flats in 2 months on Noida-Gr Noida e-way

NEW DELHI: Embattled real estate major Jaypee Infratech Ltd (JIL), a subsidiary of Jaiprakash Associates Ltd (JAL), has completed the construction of 5,300 apartments along the Noida-Greater Noida Expressway and plans to hand over possession in two months.

Between 2008 and 2014, the company launched around 35,000 apartments and plots in the Wish Town along the Expressway. It also has over 10,000 apartments and plots in 'Sports City East' on the Yamuna Expressway, close to Noida.

Out of this, the company officials say possessions of over 2,500 plots have already been given. A company spokesperson said, the letters were being dispatched to customers to take the possession in its projects such as Kalypso, Pavilion Court, Pavilion Height, Town Homes, Wish Town Klassic and Kosmos in Wish Town on the Noida-Greater Noida Expressway.

The company will still have a back log of nearly 27,000 apartments. It has delivered 1,700 plots by 2015. It claims that at least 7,000 more apartments will be handed over in 2016.

JAL has recently put its Bhilai cement plant on the block. It expects to generate Rs 1,200 crore from the sale.

JIL is in talks with several developers to sell a chunk of its over 6,000 acre land bank to reduce the burden of crushing debt. The stretched balance sheet of the company has meant delayed possession of apartments booked nearly 4 years ago.

This has also increased the time for construction of several other projects on the Noida-Greater Noida expressway.

JIL has a debt of around Rs 9,000 crore taken to construct a toll-based 6-lane 165 Km access-controlled expressway, connecting Noida and the tourist town of Agra. The company was allowed to buy land along the expressway to develop them as real estate to cross-subsidize the construction of the expressway.

The company had acquired around 6000 acre of land in 5 parcels, each of around 1200 acres. Besides this, its promoter company JAL acquired 2500 acre of land close to Noida at the end of the Yamuna Expressway to develop the mega Formula One track.

But a sharp slowdown in the real estate sector has put a huge burden on the group, which brought the Formula One race to India by building the swanky new race track.

The hectic pace of expansion meant the company added layers of debt.

With the infrastructure sector facing a cash and demand crunch, the company is finding it difficult to service the debt.

The Yamuna Expressway is also facing its own set of problems. The expected volume of heavy traffic on the expressway did not materialize as the roads which would have connected all the National Highways crossing Delhi and connecting Chandigarh, Dehradun and Jaipur could not be completed.

This has hit toll collection and piled more pressure on the company's balancesheet and triggered talks of plans to sell the expressway.

But a company source ruled out any move to hive-off the expressway. A banker also said that selling the expressway was not being considered. The hiving off of the road project is not possible because of tax and other issues such as mortgage of the land.

Therefore, the company is trying to sell a part of its land holding. The company sold 250 acres of land to developer Gaursons for around Rs 1,250 crore. But they returned 50 acres after contracting to buy 300 acres.

Resource: http://realty.economictimes.indiatimes.com

Varun Gupta, Director, Ashiana Housing Ltd

Varun Gupta, Director, Ashiana Housing Ltd is a Bachelor in Science from Stern School of Business, New York University (USA). He majored in Finance and Management and then joined Citigroup in Commercial Mortgage Backed Securities where he was underwriting commercial real estate. For the last seven years he is with Ashiana.

Ashiana Housing Limited is known for its timely deliveries and unmatched construction quality. Ashiana Housing, a brand synonymous to middle income group housing, has built over 17million sq. ft. of residential and commercial space has done residential projects at Neemrana, Bhiwadi, Jaipur, Jodhpur, Jamshedpur, Lavasa (Pune) and Patna. They are also pioneers in bringing the concept of senior living in India and spreading it to Bhiwadi, Jaipur and Lavasa.

Speaking with Yash Ved and Pooja Paryani of IIFL, Varun Gupta says "We will develop 6 mn sq.ft. and possess 10-12mn sqft of additional saleable area for future projects."

Brief us on your upcoming projects. What is the total area under development? 

We  plan to launch 3-4 residential projects this year. Currently, we are working on a senior living project in Chennai and the first phase of the project will be launched this year. We are also planning to launch Ashiana Aangan in Neemrana, but have not got approval yet.The company has a number of completed projects in residential segment. We will develop 6 mn sqft and we have 10-12mn sqft of additional saleable area for future projects.

Tell us about your agreement with Arihant for senior living project?

We have signed a revenue share development agreement with Arihant for a senior living project in Chennai that we are looking to launch with a saleable area of roughly about 1mn sq.ft.

What is so different about senior living projects as compared to regular housing?

A host of considerations are taken into account when we design houses for senior citizens. We take special care of three to four basic needs of the senior citizen keeping in mind their social requirements. To begin with the design is more senior friendly in terms of grab grills and anti-slip tiling,  Emergency call system, LPG gas detectors, high level of security are the other common features. We also have dining facilities, doctor on call facility, and physiotherapist at site. In short, we take care of Constructive Engagement, Social Needs, Security and Overall wellness. Senior people who live in these specifically designed, maintained and serviced projects enjoy an improved quality of life and perhaps additional years of life on account of these happy and safe surroundings.

Are you looking at developing similar projects in other areas? 

We are planning to launch a project in Chennai once we get the necessary approvals. Our decision to launch such projects will also depend on the overall response and the size of the market in this segment. Moreover, the willingness of people to pay for such projects will also influence our decision. Overall, we remain very excited, particularly about the Chennai project, given the demographics in Chennai.

What is the price range of your  projects?

We cater to the middle class as our overall project range is from Rs.20 lakhs to Rs. 70 lakhs.

Any plans to increase your land bank? 

We plan to double sales and land bank and invest Rs 1,100 crore in land over the next four years.

Resource: http://www.indiainfoline.com

5,000-acre land reserved for airport plan in Jewar in Gr Noida

GREATER NOIDA: Less than a week after CM Akhilesh Yadav wrote to Union minister Mahesh Sharma proposing an international airport in Jewar, Yeida on Monday reserved 5,000 acres land for the project. The proposal was approved in the joint board meeting of the three development authorities on Monday and will now be sent to the state government for final nod.

Sharma earlier this week had said that Yadav has written to him proposing an international airport at Jewar and that he would start the process of clearances for the site once he gets a formal project report from the state.

"As per the first phase of Master Plan 2031, the previous state government had asked to earmark about 2,800 acres land for Jewar airport but the Authority had put aside 5,000 acres. We have now officially reserved 5000 acres for the airport," said Arunvir Singh, CEO, Yeida," he added.

The Yamuna Expressway Authority earmarked about 10,000 hectares of land across 35 villages for the project after it was first proposed in 2001. The site already has in place key NOCs required for construction to begin. The authority has plans to develop industries on parts of land.

Stakeholders seem to be upbeat with the Authority's move and believe the project will drive growth in the Greater Noida-Yamuna Expressway region and also be a shot in the arm for the realty sector. "A new airport in the region will certainly be an economic driver, which will also change the face of real estate industry in the area," said Getamber Anand, president, Credai National and CMD of ATS Infrastructure Ltd.

"The airport will give a boost to the infrastructure facilities and connectivity in the region," said R K Arora, chairperson, Supertech group. "An airport will help the region emerge as an industrial hub besides improving connectivity between four bordering states of UP, Haryana, Rajasthan and Delhi besides attracting foreign investors and impetus to tourism, " said Aditya Ghildiyal, president, Association of Greater Noida Industries.

Resource: http://realty.economictimes.indiatimes.com

For a truly peaceful retired life

Retirement homes' segment might be at a nascent stage in India but with more seniors opening to the idea, developers are coming up with luxurious options.

Take Max India Group's Antara Senior at Dehradun. The cheapest unit costs Rs 1.5 crore and the most expensive goes for Rs 6.6 crore. The annual maintenance charge is between Rs 35,000 and Rs 1 lakh.

Brotin Banerjee, managing director of Tata Housing, feels the market size of retirement homes should be Rs 4,000 crore by 2018. "A significant section of seniors today are financially well-off, independent, well-travelled, with an openness to spend their retirement in a senior living home. Even senior non-resident Indians (NRIs) accustomed to such facilities in developed countries are returning to their city of origin," he said.

After retirement, Ashok Kumar Bahl was looking for a place to reside that was similar to his company's township. The steel company where he'd worked as a deputy general manager had well-maintained houses, greenery, 24-hour security and a clubhouse for employees to socialise.

After living at a few places, the 67-year-old zeroed in on a retirement home close to Delhi. "It's clean, green, has tight security, a team that manages medical emergencies and it's designed especially for seniors. Also, there are daily activities that help in socialising with fellow residents," says Bahl. He has been there for five years and three friends from the steel company have joined him. His son, an Indian Institute of Technology graduate, works in the US and daughter, an MBA from a premier institute, has settled in Bengaluru after marriage.

Increasingly, many retirees and people close to retirement are looking at such residences, designed to meet their needs. Senior living projects are gaining popularity, backed by builders such as Tata Housing, Max Group, Ashiana Housing and the Brigade Group. These projects are targeted at financially well-off and upwardly mobile Indians, who see senior living as an attractive option.

According to a report by Jones Lang LaSalle, the current demand for senior housing in India is about 300,000 units. It is estimated that by 2025, there will be 173 million seniors above the age of 60, from 76 million today. There are 98 million people over 55 years, with steady annual growth of 3.5 per cent.

Facilities

The architecture of these projects takes into account a senior's requirement. Muralidhara CP, AGM - Senior Living Operations at Ashiana Housing, explains: Things are designed keeping the free movement of a wheelchair in mind. The doors are wider and so are the rooms. Switches and bathroom fittings are such that a person on a wheelchair can easily use these. All elevators are broad enough to accommodate stretchers. Other common features include anti-slip flooring and railings for support. All areas from reception to bedroom are flat. Clubhouses and ATMs are close to the homes.

These also have medical assistance available for primary care. If the health issue is bigger, the person is rushed to a nearby hospital. For those who need regular care, say a physiotherapist, these projects tie-up with medical practitioners to provide doorstep service. Tata Housing has tied up with Apollo Healthcare for its Riva Residences, an integrated residential complex in Bengaluru. Max India's group company, Max Healthcare, owns a super-speciality hospital four km from the Antara project.

There might be a mess facility offering customised or home-cooked food daily, in addition to a concierge, housekeeping and laundry services. Indoor games, community hall, library, screening hall for movies, arrangement for visits to art galleries, malls and museums could be other attractions.

Some projects also have an emphasis on activities. Ashiana Housing has a person dedicated for this. These include celebrating festivals, holding game tournaments and other competitions.

Buying and selling

Most retirement homes are sold outright. There are a few rental models, too. In the former, there are two types. First, the units are sold only to those above 55 years; in the second model, anyone may buy.

Ashiana sells to a person of any age but requires only seniors to stay in the houses. To ensure this, it relies on the society (called a social welfare group) formed by the residents. Family members can visit the residents and stay for 60 days in a year. However, if a person below 55 stays for over a week, the security unit reports it to the social welfare group. Antara Senior Living, which sells units only to buyers over 55, allows anyone to stay with the owner as long as they wish. However, when the house goes for resale, the company has the right to select whom the flat will be sold to.

Costs

Most of these projects are currently available on the outskirts of a city, for the peaceful surroundings and availability of large-size lots, plus the prohibitive cost of development in prime locations, say experts. There's a premium on such houses, around three per cent, as these are specially designed. As the market matures, the premium will increase on such houses, says Om Ahuja, chief executive-residential, Brigade Group. That's because some of the components are made to order. For example, the ready-doors that one gets in the market cannot be fitted in such projects, as they are smaller.

The prices typically start at Rs 30 lakh. In Ashiana Housing's Bhiwadi project, where all flats are sold out, rates for a resale are Rs 3,500 to Rs 4,000 a sq ft. A person may choose from one bedroom-hall-kitchen (BHK) measuring 800 sq ft to a 3-BHK of 1,350 sq ft. Brigade Group offers 2-BHKs at Rs 6-7 lakh and 3-BHKs at Rs 75-90 lakh. Antara Senior Living offers apartments from Rs 1.5 crore to Rs 6 crore, for flats between 1,400 and 10,000 sq ft.

The cost for the amenities is typically included as part of the monthly maintenance charges, which are higher than standard residential projects, depending on the sophistication. Ashiana Housing charges Rs 2.1 a sq ft monthly; in Antara Senior Living, this can go up to Rs 1 lakh. There are also paid services. For example, health care charges for Tata Housing's project work out to about Rs 3.5 lakh for a five-year period. In Ashiana Housing projects, there are separate charges for regular doctor service, maid and dining. The health care charges at Tata Housing's Riva project are about Rs 3.5 lakh for a five-year period and the maintenance cost approximately Rs 1.18 lakh for 18 months.

Resource: http://www.business-standard.com

Property Prices in Delhi NCR Grow Negligibly in Apr-Jun 2015 over Jan-Mar 2015: 99acres.com

99acres.com Insite is a quarterly report focusing on capital and rental price trends in the residential real estate market across seven major cities of India. According to the report, property prices per sq ft in Delhi NCR witnessed negligible growth amounting one per cent in Apr-Jun 2015 as against Jan-Mar 2015. Rental values recorded an average increase of 5 per cent in the last one year (Apr-Jun 2015 vs. Apr-Jun 2014). An increase of 17 per cent was witnessed in the supply of residential apartments this quarter as against a dip of 16 per cent recorded in quarter ending March 2015. Units configured as 3BHKs continued to be the most supplied ones, followed by 2BHKs.

Major Highlights

Delhi NCR property market continued its snail-paced trajectory from Jan-Mar 2015 to Apr-Jun 2015 with an insignificant growth of 1 per cent in property prices.

While frequent legal conflicts resulted in subdued buyer sentiment, a demand-supply mismatch gave developers a run for their money.

Prices soared despite a huge inventory pile-up of 1.70 lakh units recorded till Apr- Jun 2015.

The expansion of the Delhi metro improved sentiments in certain pockets of the market, impacting the rental values more than capital prices.

As developers focused on offloading unsold inventory, there was a drop in the number of new launches in the region.

The rental market performed better than the capital one due to more office space absorption, particularly in Noida and Gurgaon.

Commenting on the report, Mr Narasimha Jayakumar, Chief Business Officer, 99acres.com, said, Though the market looks grim with snowballing unsold residential inventory, there is an increase in office space absorption by IT/ITeS and ecommerce firms. This is expected to keep the commercial and home rental markets of Noida and Gurgaon upbeat.

Price Trend Analysis: Delhi (Apr-Jun 2015 vs. Jan-Mar 2015)

Delhi witnessed a dip of 2 per cent in Apr-June 2015 as compared to the preceding quarter.

Property prices in South Delhi grew insignificantly, while that in North and West Delhi dropped by 5 per cent and 8 per cent, respectively.

Meanwhile, Dwarka price graph declined by 4 per cent and East Delhi saw a stagnant real estate market.

Mehrauli was the top grosser, witnessing a 7 per cent rise in capital values in Apr-Jun 2015 as against the quarter ending March 2015.

The upmarket neighbourhoods of Greater Kailash I and II clocked a surge of 6 per cent and 4 per cent, respectively, in the quarter ending June in comparison to the previous one.

Rental Analysis: Delhi (Apr-Jun 2015 vs. Apr-Jun 2014)

The rental market of Delhi soared in response to the existing and developing infrastructure and increasing employment opportunities. Rental values in the region surged by an average of 5 per cent in the last one year.

In this zone, East Delhi witnessed the highest growth of 10 per cent between Apr-Jun 2014 and 2015, while values in North Delhi stagnated during the same span. East Delhi was followed by Dwarka with a spike of 6 per cent in rental values. South and West Delhi clocked an increase of 5 and 4 per cent, respectively.

A year-on-year analysis revealed that Jasola in South Delhi recorded over 20 per cent rise in rental values, the highest in the region. This locality has the advantage of a metro station (at a distance of less than two kilometre).

Following Jasola closely was Dwarka Sectors 18 and 19, and Patparganj, each clocking a growth of 18 per cent each.

Price Trend Analysis: Noida and Greater Noida (Apr-Jun 2015 vs. Jan-Mar 2015)

The plethora of proposed social and physical infrastructure propelled real estate sentiments in Greater Noida from stagnancy in the last quarter to a 2 per cent growth in Apr-Jun 2015. However, residential market in Noida maintained its slow growth pace with negligible price hike.

The Noida-Greater Noida Expressway was the frontrunner with 9 per cent spike in real estate prices, with Sector-16 in Greater Noida and Noida Extension following closely with six per cent each.

The Delhi Metro Rail Corporation (DMRC) has mentioned a tentative timeline of 3 years for the metro corridor between Noida and Greater Noida, boosting realty sentiments.

The Supreme Court ruling on Greater Noida land acquisition has cleared the haze of uncertainty for almost 1.5 lakh property buyers. CREDAI has assured the delivery of around 50,000 residential units by the end of 2015.

Rental Analysis: Noida and Greater Noida (Apr-Jun 2015 vs. Apr-Jun 2014)

Boasting of a massive 16 per cent spike in rental prices in the quarter ending June, Greater Noida realty landscape was impacted by the Noida-Greater Noida Metro corridor, the construction work on which commenced in the month of June. The metro link is slated to be operational in 2018.

Rental values in Noida grew to the tune of 4 per cent between Apr-Jun 2014 and 2015. Improving connectivity, coupled with developing entertainment hubs are the prime growth drivers.

Sector Omicron III in Greater Noida and Pari Chowk grabbed the top positions with a yearly rental hike of 17 and 14 per cent respectively, majorly owing to more project deliveries and improving connectivity from Delhi and Noida.

Price Trend Analysis: Ghaziabad (Apr-Jun 2015 vs. Jan-Mar 2015)

Ghaziabad realty landscape saw an uptrend of 2 per cent in Apr- Jun 2015, in comparison to the preceding quarter due to promised infrastructural growth. The city real estate sentiments thrived on the announcement of Rs 1,500 crore for infrastructure development.

The major infra plans include expansion of metro network from Dilshad Garden to New Bus Stand metro and construction of a Northern Peripheral Road spanning 21 km between Tila Mod in Delhi to Dasna Toll Plaza on NH-24. Development of a six-lane Hindon Elevated Road is also on the cards.

National Highway 91 emerged as the highest grosser with 9 per cent spike in property prices since March 2015.

Trans-Hindon localities including Indirapuram, Vaishali and Vasundhara fared among the top grossers in Apr-Jun 2015 compared to the previous quarter owing to connectivity to NH-24 and metro.

Rental Analysis: Ghaziabad (Apr-Jun 2015 vs. Apr-Jun 2014)

An annual analysis revealed that rental values in Ghaziabad rose to the tune of 10 per cent in the quarter ending June, after a 5 per cent rise in Jan-Mar 2015.

Vaishali saw the highest appreciation in the rental graph by 18 per cent from Apr-Jun 2014 to the same quarter this year. The proposal to expand the Vaishali metro link to Mohan Nagar has given a massive fillip to realty sentiments.

The integrated project of Crossing Republik witnessed a hike of 17 per cent in rental values during the same span. In addition to metro connectivity being on the cards, the locality is comparatively more affordable than neighbouring Vaishali and Indirapuram, where rental demand rose by 8 per cent in the last one year.

Price Trend Analysis: Gurgaon, Faridabad, Bhiwadi and Dharuhera (Apr-Jun 2015 vs. Jan-Mar 2015)

Gurgaon and Faridabad saw an uptrend in capital values, albeit an insignificant 1 per cent in Apr-Jun 2015. Homebuyers continued with their wait-and-watch approach, although both cities were frontrunners in the race for the smart city; tag.

Construction of the metro network has given Faridabad a fresh lease of life. Despite being designed in accordance with the Nehruvian vision of a City of Hope;, Faridabad has remained dependent on autos and buses till date. The metro will become the city first transit system.

While Bhiwadi clocked an average rise in capital values to the tune of 3 per cent this quarter, property prices in Dharuhera dipped by 6 per cent. While proximity to Gurgaon is an advantage to both these satellite towns, availability of very few projects in Dharuhera, made demand and hence occupancy levels suffer.

Rental Analysis: Gurgaon, Faridabad, Bhiwadi and Dharuhera (Apr-Jun 2015 vs. Apr-Jun 2014)

Rental demand remained robust in Gurgaon and Faridabad, with prices increasing by 4 per cent, each, in a year time.

The highest grosser in Gurgaon was Sector 67 where values rose by 20 per cent in Apr-Jun 2015 as compared to the same quarter last year, followed by Sectors 69 and 59 where rentals increased by 17 per cent, each.

Sector 86 in Faridabad witnessed rental values escalating by 14 per cent during the same span. Housing demand in this industrial township is being fuelled by expansion of the DMRC line.

In addition to capital values, Alwar Bypass Road in Bhiwadi saw rental yields rising to the tune of 17 per cent. The rental market of the region is primarily propelled by the workforce in Gurgaon.

Supply Analysis (Apr-Jun 2015 vs. Jan-Mar 2015)

Availability of Different Property Types: While residential apartments grabbed the maximum share of residential inventory in Noida, Greater Noida and Gurgaon; builder floors continued to be the most supplied units in Delhi and Ghaziabad.

Availability of Property by Budget: Properties priced within Rs 40 lakh captured more than a quarter of the total inventory in Delhi NCR. This was followed by properties budgeted between Rs 60 lakh and 1 crore.

BHK-wise Distribution of Property: The 3BHK category continued to be the most supplied one in Delhi NCR, with Gurgaon having the maximum supply of such units, followed by Noida and Ghaziabad.

Ready to Move vs. Under-construction: More than 60 per cent of Delhi NCR inventory fell in the ready-to-move-in category. Almost three-fourth of the inventory in Noida, Greater Noida, Bhiwadi and Dharuhera continued to be under-construction due to long delays in project deliveries. The National Green Tribunal (NGT) ban on construction of houses within a radius of 10 km from the Okhla Bird Sanctuary delayed many projects in Noida and Greater Noida.

Link to report- http://www.99acres.com/articles/delhi-insite-report-apr-jun-2015.html

About 99acres.com:

Launched by Info Edge India Ltd. in September 2005, 99acres.com is a gateway to one of the fastest growing property markets of the world, an information exchange for buying, renting and selling of all types of residential and commercial properties anywhere in India. The website enables easy access to a huge property bank and allows direct connect with brokers/builders in cities as well as remote parts of the country. With over 9 million visitors visiting the website every month looking for real estate solutions, 99acres.com has over 8.5 lakh residential and commercial property listings and over 1 lakh new projects. Not only this, it has the highest traffic share, making it the most popular real estate portal in the country. Backed by a strong team and a network across 40 cities in India, 99acres.com has garnered faith and support of the real estate community in India within a very short time span.

Resource: http://www.financialexpress.com

Ten cities to shop for budget real estate in India

India’s cities draw the most housing demand for reasons like better job opportunities, living standards and infrastructure.
However, rapid urbanisation and development of these cities into mega-cities have given rise to challenges such as pollution, traffic issues, high property prices, etc.
The government’s initiative to provide ‘Housing for All by 2022’ is being pursued laboriously. The simple motive is to provide affordable homes within the price budget of up to Rs 25 lakh. This vision must necessarily encompass the smaller cities near the bustling cities of India.
Though affordability is a relative term, it is pertinent to look destinations where residential properties within the budget range of Rs 30-50 lakh are available, and are classified either emerging or growing submarkets supported by good infrastructural development. These towns and cities offer a wide spectrum of investable options in real estate with relatively lower price levels, providing the incentives for future capital appreciation and healthy returns.
Here are 10 cities that offer great lower-budget real estate investment prospects over mid- to long-term.

Resource: http://indianexpress.com

Why these 9 North Indian cities are good real estate investment bets

Despite the real estate sector going through a rough patch for almost an year, it still makes sense to invest in properties which promise a long-term return.

“The global share markets are quite volatile, and despite India’s positive mid-to-long term economic outlook, it is not untouched by these choppy waters. A lot of hard-won investor wealth has been eroded in the recent past.  In these uncertain market conditions, it makes sense to regenerate one’s faith in real estate investments which can fortify and enhance capital,”  says Ashwinder Raj Singh, CEO – residential services, JLL India.

Investors can reap in impressive rewards if they choose a good destination along with a reliable developer after a good research on the city and its market.

Shortlisting and selecting a property is a one time process, but considered to be a time-consuming exercise. The city one should invest in should be identified through its economic drivers.

With the help of real estate players, we identify nine cities in North India that are great investment options due to their locations, infrastructure, healthy investment climate for industrial and related activities, and are affordable too.

Affordability quotient plays an important role in investor’s decision and is a major catalyst in driving realty demand.

Experts, however, put a word of caution before investing in these five cities. “It is important for the investor to choose the right asset class, partnering with the right developer, making sure projects have obtained approvals, economic pull factors which will drive future growth in a location, return expectations in terms of rentals and capital appreciation – and, very importantly – the right investment horizon, ” Santhosh Kumar, CEO – operations & international director, JLL India.

Santosh lists Gurgaon, Noida, Jaipur, Neemrana and Lucknow as best cities to invest in North India as he believes most of these cities are witnessing good development, investment in infrastructure, and have a good existing or developing economic base which is or will attract more people, thus driving the need  for real estate. Jaipur and Lucknow are capital cities and enjoy good investments into infrastructure by the state governments, while also enjoying good connectivity and have seen healthy investor participation, albeit largely in the residential sector.

Infrastructure makes a city worth investing and also drives the real estate growth. Vikas Malpani, co-founder, Commonfloor finds Bhiwadi, Jaipur, Ghaziabad, Delhi (L-zone) and Faridabad as good investment picks in North India as infrastructure is one of the major factors that is driving real estate growth in most of the mentioned cities.

Malpani adds Delhi Mumbai Industrial Corridor (DMIC) passes through various existing industrial clusters and towns and cities that are likely to become investment hubs. Bhiwadi, Ghaziabad and Jaipur are seeing the impact of this corridor. Moreover, all the identified cities are also witnessing the impact of the industrial development in and around the regions. Additionally, property prices in these cities are relatively affordable.

He identifies prime factors that make Bhiwadi and Jaipur worth considering for investment. “Bhiwadi, an emerging industrial and real estate hub adjoining Gurgaon is well connected with highways such as NH-8 and NH-71B. The proposed Neemrana airport in the vicinity is expected to give a boost to the realty sector. Moreover, it falls along the Delhi-Mumbai Industrial Corridor, which makes it a promising destination for property investment. Unparalleled connectivity and round-the-clock infrastructure development are two parameters of growth in the Jaipur. The advent of the metro and the ‘Smart City’ label has added to its advantage.”

The proposed Metro connectivity with other parts of NCR and two industrial zones in and around the area are expected to give a major push to the realty sector in Ghaziabad in the coming months. L-Zone in Delhi is situated in a strategic location in the south west of Delhi with close proximity to Dwarka, Gurgaon and IGI Airport. Low land prices and DDA’s Land Pooling policy are expected to be the major growth drivers of this region. Realistic property values, good connectivity coupled with upcoming infra upgrades, has put Faridabad as the next hotspot in NCR. It enjoys connectivity to other cities such as Mathura, Palwal and Agra via NH-2.

All these cities offer several real estate options to invest in. What is needed is a well-timed and properly researched real estate investment for good returns and avoid a bad decision. Thus, it is crucial for buyers to check past record of developer, get the property papers verified by a legal expert and compare prices with other builders’s properties to make an informed and sound decision.

Resource: http://www.financialexpress.com