IMPRESSIVE RETURNS

Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;} Demandand supply gap in residential property at IMT Manesar promises attractivereturns on investment here, says Krishna Kumar Mangalam IMT Manesar, located to the south of Gurgaon, is emerging asthe fastest growing industrial hub in the NCR. Haryana State Industrial &Infrastructure Development Corporation (HSIIDC) has acquired 1,746 acres in IMTManesar for industrialization, and is in the process of acquiring another 3,325acres of land to expand the scope of industrial, retail and commercial officespace here. And with Raheja SEZ and Reliance SEZ coming up on both sides ofPataudi Road here, the locality is poised for stupendous growth in the nearfuture. Currently, Manesar is home to top-notch MNCs like Baxter,Honda, Mitsubishi, Nippon, Suzuki, Toyota, among others, and with Gurgaon aloneaccounting for nearly 50% of Haryana's industrial and retail activity, thepotential of this area for future growth is mindboggling - some experts haveput a figure of 400% growth in the decade ahead. Corporate houses are also on the lookout to find suitable group housing accommodation for their executives hereitself and save their employees the time, cost and energy that the dailycommutation from Delhi or Gurgaon otherwise entail. All this activity will naturally translate into anopportunity for developers to raise residential complexes in the area — and,with no quality and affordable development in sight at the moment, realty firmsthat develop such projects over the next 4-5 years will have the first moveradvantage. Harinder Dhillon, vice-president (Marketing) of RahejaDevelopers Ltd, says: “Customers and end users who buy into such residentialproperty will have made one of the soundest investments. IMT Manesar isprojected to have a shortfall of nearly 5 lakh housing units over the next 4-5years, whereas the availability of authorized housing will only be around62,500 units in the same period. Thus, the price escalation of property here isbound to be steep.” RahejaDevelopers Ltd has launched a residential project , Sampada Towers, inSector 92, Gurgaon in the first week of March, which will be ready forpossession in 2013. There will be 342 units on offer with ground floor plus 13floors in six towers. This is Phase-2 of its Navodaya residential project,which was launched in 2008 and whose 330 units have been fully sold out andwill be ready for possession in 2011. In less than two weeks of Sampada Towers'launch, 100 units have already been sold. The basic selling price (BSP) of the units is Rs 2,475/sqft. The units will be 3-4BHKs, penthouses (duplex-style, having a terrace) andpresidential suites (on ground floor with landscaped lawns). Size of the3-4BHKs will be in the range of 1,370 sq ft to 1,850 sq ft and cost between Rs31 lakh (BSP) and Rs 42 lakh (BSP). The size of the penthouses and presidentialsuites will be in the range of 1,370 sq ft to 1,908 sq ft and will cost betweenRs 42 lakh (BSP.) and Rs 56 lakh (BSP). Located in Sector 92 of Gurgaon, the project is at asniffing distance from the Dwarka expressway, KMP and NH-8. Excavation of thefoundation has been done, even as work on the Phase-1 Navodaya project has beencompleted till the 10th floor. HUDA has already developed 60-metre-wide sectorroads here. Talking about the pricing of the units, Dhillon says: “ We redefined the game of real estate here in 2007, when we priced our units at Rs 2,375/sq ft even as the prevailingmarket rates were hovering at Rs 3,750/sq ft. Now, as Manesar develops into themost sought-after industrial hub in the NCR, we have further lowered our basicselling price to Rs 2,275/sq ft. We have given customers a never-beforeaffordability quotient for quality products in the hottest destinationpossible, which are otherwise available at double the rate. This we could dobecause we have a debt valuation of less than 1% to the total asset base, whichis unmatched by any other realty firm. And, all our realty projects, thus far,have been gold rated by the ministry of environment and forests.” Dhillon adds: “Sampada has fixtures which are ordinarilygiven only in super-luxury apartments. The bathrooms are going to be fitted outwith fixtures by Kohler, which one would ordinarily see only in 5-star hotels.The electrical fittings are from SSK. There is double-level parking — also, atSampada Towers, the residential units have been designed in such a manner thatin one single apartment there can be three separate tenants and rental incomefrom the property can be maximized. What more can end users wish at the pricewe are offering!” Courtesy:- Times Property dt:- 20-March-2010 Forinformation about real estate, real estate india, Indian real estate property,property in india, Indian property, apartments, apartments for sale, apartmentsfor buy, apartments for sale in delhi, apartments for sale in gurgaon,apartments for sale in indirapuram, flats for sale in delhi, homes, homes forsale, houses for sale, homes for sale in delhi, homes for sale in gurgaon,houses for sale in delhi, houses for sale in gurgaon, property investmentoptions in delhi, investment option in real estate, real estate consultant,real estate agents, real estate developers and many more   log on   to http://www.zameen-zaidad.com and http://propertycafeteria.com/

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