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Max Estate plans to build 4 million square feet in Gurugram and hopes to make ₹ 9,000 crores.
A joint development agreement has been signed by Max Estates, the real estate division of the Max Group, for the development of 18.23 acres of land in Gurgaon. The project has the potential to generate revenue of Rs 9,000 crore.
This land tract is adjacent to the 11.80 acres of existing land on the Dwarka Expressway in Gurugram’s sector 36 A, on which Max Estates executed a Joint Development Agreement (JDA) the previous year. The land has the potential to accommodate nearly 4 million square feet of development.
With a revaluated revenue potential of Rs 4,000 Crore, the firm is on pace to open the first intergenerational residential community in the Delhi NCR in Q3 of CY 2024.
This aids Max Estates in solidifying its 30 acer holding in sector 36A of the Dwarka Expressway, which has become a sought after luxury residential area in Gurugram as a result of significant infrastructure improvements.
Both options suggest that by building and selling an area larger than 6.4 million square feet, Gurugram might generate a total revenue potential of Rs 13,000 crore over time.
“Securing at least 2 million square feet of development opportunity in Delhi NCR year for Max Estates is a key component of our stated expansion strategy. Max Estates’ portfolio, which is highly well diversified in terms of asset classes (commercial office and residential), geographic footprint (Noida, Delhi, and Gurugram), and risk spectrum (delivered and under construction), will grow by 50% from 8 to 12 million square feet of development potential after this transaction closes, according to COO Rishi Raj of Max Estates.
The legally binding agreement calls for working with the landowner to obtain a license under the Transit Orient Development (TOD) policy and securing development opportunities through JDAs over the course of three tranches.
New York Life Insurance Co. recently declared that it would invest a total of Rs 388 crore to purchase a 49% interest in two of Max Estates’ commercial projects, one in Noida and one in Delhi.
At the moment, New York Life owns 22.67% of Max Estates, which is listed publicly. Additionally, it owns 49% of the equity in Max Estates’ new commercial developments in the Delhi-NCR, which include Max Square, which is already functioning on the Noida Expressway, as well as two ongoing projects: Max Square Two, which is being built next to Max Square, and one on Gurugram’s Golf Course Extension Road.
The company successfully launched and sold Estate 128 in Noida, its first residential project, in 2023. It intends to begin work on its second project in Gurugram during the first part of this year.
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The top bidder for a 6.46-acre plot of land in Noida’s sector 44 is Godrej Properties.
The Godrej Group’s real estate development company, Godrej Properties, has come in top for a 6.46-acre plot of land in Noida’s sector 44.
With premium residential flats of various configurations, the land parcel will offer 1.4 million square feet of development potential and an estimated revenue potential of Rs 3,000 crore. This will be Godrej Properties’ sixth project in Noida.
“Our current projects in Noida are in high demand, and this project will expand our portfolio of development opportunities in the National Capital Region (NCR) even more. According to Gaurav Pandey, MD & CEO of Godrej Properties, “this fits well with our strategy of deepening our presence in key micro markets across India’s leading cities.”
Over the last two years, the firm has purchased several NCR property parcels. It recently proved to be the biggest bidder for two plots of opulent group housing in Gurgaon, Haryana’s Golf Course Road micro market.
The projects, which take up 2.76 and 5.15 acres respectively, are expected to generate over Rs 3,100 crore in revenue overall.
A Gurgaon land tract that would provide 1.6 million square feet of upscale residential construction with an estimated Rs 2,500 crore in income potential is one of the company’s other recent acquisitions.
Additionally, the business purchased about 62 acres of property in Kurukshetra, Haryana, with plans to build 1.4 million square feet of planned residential space.
Additionally, Godrej Properties recently paid Rs 377 crore to the local government to purchase two land lots for a residential project in Noida.
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In 2023, Gurugram becomes a major player in the real estate sector.
In 2023, Gurugram becomes a major player in the real estate sector.
The Gurugram market has experienced a remarkable 20% increase in value year over year, with Dwarka Expressway, Golf Course Extension, and New Gurgaon at the top of the list.
In 2023, Gurugram became the clear leader in India’s rapidly expanding real estate market. A number of variables that are transforming the industry are coming together to drive the city’s dynamic expansion and change the landscape.
Developers are creating innovative solutions that satisfy a wide range of tastes, from luxurious individual levels to eco-friendly co-living areas and large mansions. At the center of this change is Gurugram, which is seeing an increase in creative ventures designed to satisfy changing consumer demands.
“Gurugram stands tall, not only as a city of promise but as an indisputable leader in India’s real estate space, shaping the future of the industry in unprecedented ways,” says Vivek Singhal, CEO of Smartworld Developers, sharing his observations. It is anticipated that the residential market will lead this extraordinary expansion, representing the shifting tastes of purchasers. The Gurugram market has experienced a remarkable 20% increase in prices year over year, with Dwarka Expressway, Golf Course Extension, and New Gurgaon at the top of the list.
“In fact, a flurry of infrastructure developments, luxury residential projects, office spaces, retail spaces, entertainment options, and recreation options has made the Golf Course Extension Road the nerve center of Gurgaon,” he continues. It has been reported that the average monthly rental price of 2,000 square foot luxury homes in the Golf Course Extension climbed by 18% between 2019 and 2022, from Rs 49,000 to Rs 58,000.
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CM Khattar: The Gurugram Metro project will start construction in 2023–2024.
CM Khattar: The Gurugram Metro project will start construction in 2023–2024.
The “Gurugram Metro” project, which would run 28.8 km from Huda City Center to Cyber City via Old Gurgaon, is anticipated to include 27 elevated stations, as well as a connection to the Dwarka highway.
During the State Assembly’s presentation of the Haryana Budget 2023–24 on Thursday, Haryana Chief Minister Manohar Lal Khattar said that the Gurugram Metro project’s construction would start in 2023–24.
The Public Investment Board of the national government has cleared the long-pending Gurugram Metro project; the Union Cabinet’s final sanction is still needed. I’m hoping that the Gurugram Metro development would start in 2023–2024,” stated Khattar.
He went on to say that he had suggested that work be done in 2023–2024 on three more metro links: the extension of the Bahadurgarh Metro to Asaudha so that it can connect with the Kundli–Manesar–Palwal (KMP) expressway and the Haryana Orbital Rail Network; the work on the links from Rezangla Chowk to the Indira Gandhi International Airport in Delhi; and the work on the links from Southern Peripheral Road to Panchgaon via Global City and Manesar.
The “Gurugram Metro” project, which would run 28.8 km from Huda City Center to Cyber City via Old -Gurgaon, is anticipated to include 27 elevated stations, as well as a connection to the Dwarka expressway.
Huda City Center, sector 45, Cyber Park, sector 47, Subhash Chowk, sector 48, 72 A, Hero Honda Chowk, Udyog Vihar 6, sector 10, 37, Basai, sector 9, 7, 4, and 5, Ashok Vihar, sector 3, Bajghera road, Palam Vihar Extension, Palam Vihar, sector 23 A, 22, Udyog Vihar 4, Udyog Vihar 5, and Cyber City are the stations along the route, according to the project’s detailed project report. The plan calls for a metro extension project that will connect Rezangla Chowk in Delhi’s Dwarka sector 21 to Palam Vihar in Gurgaon, as well as an interchange with Rapid Metro.
The proposed metro extension between Palam Vihar and Dwarka sector 21 stations is expected to be 8.4 km long. Of that length, 4.9 km would go from Palam Vihar to Sector 111 in Gurgaon and 3.5 km will travel from Sector 111 to Dwarka sector 21 in Delhi, according to officials last year.
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Dwarka Expressway Updates – 2024
Dwarka expressway is one of the unique kind of urban expressway. 16 Lane highway, is going to change your lives by easing the approach to Delhi NCR. Easy approach from Gurgaon to West Delhi, North Delhi and Central Delhi along. IGI Airport approach would be very easy from all sides and less traffic. See more details in below video by RS Live.
Video by – RS Live
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Six Infrastructure Projects Approved by Centre to Pave the Way for Development
India is on the path of development and growth, and the recent approval of six infrastructure projects under the PM Gati Shakti initiative is a clear indication of that. These projects, which include renewable energy, roads, and railways, were approved by the Network Planning Group (NPG) on March 22, 2023, according to an official statement by the Ministry of Commerce and Industry (MoCI).
The projects were recommended during the NPG’s 45th session, and they will be developed in line with PM GatiShakti principles, utilizing an integrated and holistic approach. The NPG examined and recommended one project by the Ministry of New and Renewable Energy (MNRE), three by the Ministry of Railways, and two by the Ministry of Road Transport and Highways of India (MoRTH).
The six approved projects will provide multimodal connectivity, seamless movement of goods and passengers, and increase logistics efficiency across the country. The three railway projects proposed by the Ministry of Railways involve the construction of an elevated railway track for Kanpur Anwarganj – Mandhana, a rail bridge across the river Ganga to connect Vikramshila – Katareah railway station, and the doubling of Ajmer – Chittaurgarh railway line of 178.28 km.
The first railway project aims to increase line capacity utilization and improve city logistics in the region. The second project is a critical infrastructure project, as it will provide seamless freight flow movement upon completion, and the third project will predominantly serve the industrial and tribal belt in Rajasthan, which is home to many religious, tourist, and historic places.
The MNRE project examined by the NPG involves the Inter-State Transmission System for Renewable Energy Projects in Ladakh, which is described by the government as an essential and unique project. The project is a significant step towards achieving the Government of India’s target of 500 GW capacity from non-fossil fuels by 2030.
The PM Gati Shakti – National Master Plan was introduced on October 13, 2022, with the aim of creating integrated infrastructure to save logistics expenses. These six approved projects are expected to boost the country’s infrastructure and promote the use of renewable energy, which is in line with the government’s sustainable development goals.
In conclusion, the approval of these six infrastructure projects is a significant step towards India’s growth and development. The country is on a mission to become a self-reliant nation, and these projects will undoubtedly play a significant role in achieving that goal. The government’s commitment to sustainable development and renewable energy is commendable, and these projects are a clear indication of that commitment.
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Is Investing In Real Estate At A Young Age A Good Decision?
Is Investing In Real Estate At A Young Age A Good Decision? |
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Real estate is often described as one of the safest investment options. Read on to find out if it is ideal for youngsters to invest in real estate |
The generation before millennials invested in real estate, not only for the returns that the asset generated, but also for safety and security reasons. Besides, it was one of the few bankable options available. However, despite several investment avenues that are available today, several youngsters aspire to buy property at a young age.
Even using the simple economic rule of demand and supply tells us how precious land is. The finite land resource will only get dearer as the population increases. Real estate is considered one of the safest and low-risk investments. Even if the prices dip a bit due to global factors, like recession or pandemic, the prices will surely bounce back in the long run. Unlike gold, equity, or other instruments, real estate is an asset, which you can use or rent out, and still generate long-term profits.
Additionally, real estate also helps you diversify and balance your investment portfolio.
Talking about finances, most opt for a home loan to buy a home. With age on their side, a young gun has the option of longer tenure with lower EMI, thus reducing their financial burden. As one grows old and climbs up the corporate ladder, the income also increases, thereby allowing them to make pre-payments or increase their EMI amount and manage their loan better.
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Women in Real Estate
Be A Female Home Owner
Today’s women are well-read, well-versed with taxation benefits, and more conscious of their financial habits. And hence, they are warming up to the idea of real estate as an investment asset
Over the years, we have seen more and more women breaking the shackles of the patriarchal society to scale new heights in fields including real estate. One of the biggest paradigm shifts is that the sector today is much more organized and provides equal opportunities to all. Increasingly, companies are now looking at more inclusive workplace culture. There is also an increasing number of women breaking the proverbial ‘glass ceiling’ to advance to leadership positions in the real estate industry. To empower women entrepreneurs and encourage their participation in the real estate sector, the Women’s Wing of National Consultants has also been set up.
It has empowered women and created an environment where women in the real estate sector can come together, share experiences, harness their skills, make an impact and grow. Going forward, we need to continue to focus and create a ‘policy framework’ that can attract a diverse workforce to pursue a career in real estate. Organizations need to continue to focus on Diversity, Equality, and Inclusion (DE&I) initiatives to build a more diverse, equitable, and inclusive workforce.
Women have always been an important part of the home-buying decision-making process. However, over the years, we have seen women evolve from ‘homemakers’ to ‘home-buyer’. “There has been a steady increase in the number of women joining the workforce over the past few decades. Furthermore, as the opportunities for education and employment for women increase, so does their purchasing power. And with women making their own financial decisions, the number of women buying homes is on the rise. In addition, the house gives a sense of confidence, allows you to create a personal sanctuary, and saves you the hassle of moving houses every year.
It’s only a myth that it’s the man of the house who calls the shots. During site inspection or while viewing a sample flat, the woman has a keen eye for space, utilities, amenities, proximity to key areas of interest, etc. She views it from a more holistic point of view. If you cater to the woman of the house, you cater to the whole family. And developers are also getting sensitized to that fact and constructing projects keeping the woman buyer in mind
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Impact of Russia – Ukraine war
Impact of Russia – Ukraine war on Real Estate Sector in India
Experts say the price of building materials like cement may increase as oil prices go up. There is also a likelihood of interest rates rising as RBI may change its accommodative stance to curtail inflation.
After Russia launched an all-out invasion of Ukraine by land, air and, sea, and the United States and Europe promised to retaliate with the toughest sanctions against Moscow, experts warned on Friday, February 25, that The unfolding conflict could spell a potential crisis for India’s real estate sector.
Experts said that in the event of a full-blown conflict, the cost of transportation is likely to rise, and its impact will extend through the supply chain. This can further increase the prices of raw materials, which can increase the cost of manufacturing. And to control the rapidly rising inflation, the Reserve Bank of India (RBI) may change its accommodative stance, which will have an impact on home loan interest rates. He said the impact would be felt in the form of an increase in the cost of construction material including cement due to rising crude oil prices and a possible increase in borrowing cost.
Oil prices have already exceeded $100 a barrel, and stock markets have crashed globally. Oil prices have been rising in the past few months on concerns of disruption in the global supply chain amid the Ukrainian crisis. Indian cement makers, already under pressure from rising raw material and energy costs, are bound to feel the impact, said Harsh Vardhan Patodia, president of the Confederation of Real Estate Developers Association of India (CREDAI).
“Eventually, the impact will subside in the real estate industry as well. While the industry has been resilient, a 20-30% increase in raw material prices has forced developers to marginally increase the prices of projects. From industry forecasts There are indications that there will be a further increase in prices in the coming quarter and given the current crisis, this jump could be manifold.