Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Realty major <keyword id="438918" type="UNKNOWN" weightage="100" keywordseo="Emaar-India">Emaar India</keyword> will invest Rs 2,000 crore over the next two years to complete all its ongoing 50 projects across the country, a top company official told <keyword id="6367495" type="COMPANY" weightage="20" keywordseo="PTI">PTI</keyword>. Dubai-based <keyword id="83201" type="CITY" weightage="20" keywordseo="Emaar-Properties">Emaar Properties</keyword> entered the Indian real estate markin 2005 in partnership with India's MGF Development and invested Rs 8,500 crore through the joint venture firm <keyword id="44918" type="COMPANY" weightage="20" keywordseo="EMAAR">Emaar</keyword> MGF Land. In April 2016, Emaar <keyword id="53077" type="COMPANY" weightage="20" keywordseo="Properties">Properties</keyword> announced its decision to end the 11-year-old JV through demerger. Since then, its Indian venture Emaar India is focusing on execution of ongoing projects, according to PTI. "Our focus in on delivery. We are putting in place all components required to complete our ongoing projects. We have increased the number of labourers on sites to over 10,000 from 1,000 a year ago," Emaar India CEO Sanjay <keyword id="35" type="PERSON" weightage="20" keywordseo="Malhotra">Malhotra</keyword> told PTI. The company has about 50 ongoing projects in Gurgaon, Jaipur, Lucknow, Mohali and Chennai comprising about 10,000 housing units. "We have got completion certificates for 2,000 apartments since July last year and these units are being handed over to customers. We are targeting to hand over all 10,000 units in the next two years," Malhotra said. Asked about investment, he said the company will infuse Rs 1,000 crore each in the current and next financial year on construction. Emaar India's CEO said the company has raised Rs 2,500 crore debt in last one year, of which about Rs 1,500 crore was used to replace costlier debt and rest on construction. The company currently has a debt of about Rs 5,000 crore. It would be raising more debts for construction purpose but there would be no equity infusion from parent Emaar Properties. Emaar India has brought in a new project management team to expedite projects. The uncertainty over the JV delayed execution of projects. On unsold stocks, Malhotra said the company does not have much unsold inventories. "We will be having unsold stocks of about Rs 600-700 crore, mostly on <keyword id="6385900" type="UNKNOWN" weightage="20" keywordseo="Dwarka-Expressway">Dwarka Expressway</keyword> in Gurgaon," he said. In line with market trend, the company has cut price by 10-15 per cent in projects on Dwarka Expressway to clear unsold stocks. Asked about new launches, Malhotra said the company could launch one or two projects later this year depending on the market condition. Considering the current slow market condition, he said the company "will make what we can sell". The demand currently is for apartments of lower ticket size, he said. Real estate market, especially housing sector, is facing a multi-year demand slowdown that has led to significant delays in delivery of projects and forced consumers to protest and even file legal cases. On the demerger, Malhotra said he expects the process to be completed by the end of this year. Emaar Properties had in April last year said it has "agreed to take steps for the reorganisation of Emaar MGF Land by way of scheme of arrangement (demerger)". The reorganisation was being done for greater focus on its Indian operations and for the purpose of developing the potential for further growth and expansion of the business, it had said then. The projects and land bank have been divided between the two partners. Emaar India has a land bank of 6,000 acres for future developments.

Emaar India to invest Rs 2,000 cr in 2 years to complete projects

<keyword id="6357824" type="General" weightage="20" keywordseo="sales" source="Orion">Sales</keyword> of <keyword id="47359" type="General" weightage="20" keywordseo="apartments" source="Orion">apartments</keyword> across seven <keyword id="480949" type="General" weightage="20" keywordseo="major-cities" source="Orion">major cities</keyword> are estimated to rise by 20 per cent to around 2.6 lakh units, the highest since 2008, on better demand, according to JLL India. Sales stood at 2,15,621 units in the last calendar year in Delhi-NCR, Mumbai, Chennai, Kolkata, Hyderabad, Bengaluru and Pune. Real estate consultant JLL India on Thursday said sales in the first nine months of 2023 reached 1,96,227 units as against 1,61,575 units in the year-ago period. Only apartments are covered in the report while <keyword id="4454413" type="General" weightage="20" keywordseo="row-houses" source="Orion">row houses</keyword>, <keyword id="46887" type="General" weightage="20" keywordseo="villas" source="Orion">villas</keyword>, and plotted developments are excluded. Mumbai includes Mumbai city, Mumbai suburbs, Thane and Navi Mumbai. In 2024, the consultant expects residential sales to be around 2,90,000 to 3,00,000 units on the back of robust demand and quality launches. "Despite the increase in home loan interest rates and <keyword id="72248" type="General" weightage="20" keywordseo="rising-prices" source="Orion">rising prices</keyword>, the overall sentiment in the domestic housing market remains positive, with homebuyers maintaining an upbeat attitude towards purchasing homes. "In 2023, residential sales are expected to surpass 2,60,000 units and launches 2,80,000 units to reach a historic high post-2008," Samantak Das, Chief Economist and Head of Research, India at JLL, said. Commenting on the report, Akhil Saraf, founder of HDFC Capital-backed Reloy, said the real estate industry has undergone a comprehensive transformation in recent years, encompassing regulatory changes and a shift in the mindset of both suppliers and consumers. Reloy helps builders in generating referral sales. "Developers are increasingly adopting a customer-centric approach, focusing on meeting the specific needs and demands of homebuyers. This renewed focus has bolstered confidence among potential buyers, reaffirming real estate as a viable asset class," Saraf added. Pradeep Aggarwal, Chairman of realty firm Signature Global, said the real estate sector has witnessed an impressive surge this year across major cities, including Delhi-NCR. "In areas like Dwarka Expressway, New Gurugram, South of Gurugram (Sohna) and SPR (Southern Peripheral Road), residential demand has seen a significant upswing, driven by a keen interest from buyers towards mid-housing and massive infrastructure development in these locations," Aggarwal said. Construction and real estate firm BCD Group MD Angad Bedi said the real estate sector has demonstrated remarkable resilience in 2023 despite uncertainties related to the global recession and rising interest rates.

Sales of apartments in top 7 cities may rise 20 pc to 2.6 lakh units this year: Report

While there are nearly 5.68 lakh houses under various stages of construction in Delhi-NCR, any kind of periodic ban on construction by different agencies can only delay the projects, adding to the woes of the buyers. The maximum number of under-construction units is in <keyword id="18858" type="General" weightage="80" keywordseo="noida" source="Orion">Noida</keyword> and Greater Noida areas, accounting for nearly 2.70 lakh units, as per an estimate. On average, a one-month ban on all construction activity delays a project by at least 3-4 months, according to research by <keyword id="4695749" type="General" weightage="80" keywordseo="anarock" source="Orion">Anarock</keyword> consultants. As per the research, the areas in Delhi-NCR with the maximum under construction units presently include Greater Noida West, Yamuna Expressway, New Gurugram, Noida Expressway, Dwarka Expressway, Central Noida, Sector 150 (Noida), <keyword id="1464478" type="General" weightage="50" keywordseo="greater-faridabad" source="Orion">Greater Faridabad</keyword>, <keyword id="15299315" type="General" weightage="50" keywordseo="raj-nagar-ext" source="Orion">Raj Nagar Ext</keyword> (Ghaziabad), Sohna and Golf Course Ext Road. These areas together have more than 4 lakh units that are currently under various stages of construction. Greater Noida West alone has more than 1.37 lakh under-construction units currently. The air quality in Delhi-<keyword id="53426" type="General" weightage="100" keywordseo="ncr" source="Orion">NCR</keyword> has turned poor and heavy smog has started engulfing the region. This year too, to battle pollution, an action plan has been rolled out in advance, mandating that if the pollution levels breach certain levels (i.e., Stage III or 'severe'), authorities will have to enforce a ban on construction and demolition activities in NCR, except on essential projects (like railways, metros, airports, ISBTs, national security/defence-related projects of national importance). Apart from this, the construction of projects also gets hampered due to protests on the issue of land compensation. The Anarock research said that being periodic, the impact of these construction bans on overall property prices is almost negligible. Moreover, real estate prices in most cities are not so much a function of environmental concerns as of accessibility, proximity to the city centres or major employment hubs, urban mobility via various modes of public transport, and affordability. In Mumbai too, the city perennially experiences floods during monsoon, yet property prices remain steady. In fact, in the last two-and-a-half years since the pandemic, the Mumbai Metropolitan Region (MMR) has been the most active in terms of both new supply and new launches. As for Delhi-NCR, the region too has been very active. While developers restricted new supply, housing sales have been significant. In fact, the region has shed at least 23 per cent of its unsold stock in the last 2.5 years since the pandemic. Back in Q1 2020-end, the overall unsold stock in Delhi-NCR stood at 1.73 lakh units which have reduced to a little over 1.32 lakh units as of Q3 2022-end, said the Anarock research. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/huge-hike-in-airfare-from-delhi-mumbai-to-patna/articleshow/94961347.cms">Huge hike in airfare from Delhi, Mumbai to Patna</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/nissan-x-trail-premium-suv-to-launch-in-india-features-specs-and-everything-you-need-to-know/slidelist/94961171.cms">Nissan X-Trail premium SUV to launch in India – features, specs and everything you need to know</a>

Delhi-NCR: 5.68L houses under construction; periodic bans add to buyers' woes

New Delhi, Dec 2 () The Centre is working on road projects worth Rs 50,000 crore to decongest the national capital and this will help reduce pollution in the city, Union minister Nitin Gadkari said in the Rajya Sabha on Monday.
 "We are working on road projects worth Rs 50,000 crore for Delhi," he said.
The Centre is developing Dwarka Expressway with a cost of Rs 10,000 crore and also a dedicated road to connect Delhi airport from Dhaula Kuan, he said, adding that more spots been identified for decongestion.
"Pollution will be less in Delhi in the coming years," the road, transport and highways minister said.
Replying to a query on delay and cost overrun on highway projects, Gadkari said the government has found a solution for projects which were delayed because of land acquisition, clearances and other issues.
"Now, the speed has increased. Once upon a time it was Rs 2 km per day and now it is Rs 30 km per day... We do not have any financial problem," he said.
In a written reply, he informed the House that 5,126 km highway has been constructed till October in 2019-20. In 2018-19, 10,855 km highways were constructed.
"The revised normative costs for different categories of national highways were issued by Ministry of Road Transport and Highways in 2018-19 according to which the cost of construction of 2-lane highways is Rs 3.71 crore/km for plain terrain and Rs 10.11crore/km for hilly terrain. 
 "However, the actual cost would depend on site-specific requirements, number of bridges/culverts, soil conditions, etc," he added. MJH ANU

Projects worth Rs 50,000 cr underway to decongest Delhi roads : Gadkari

New Delhi, Dec 17 () Efforts are on to bolster the economy and create five crore jobs, Union Minister Nitin Gadkari said on Tuesday.
 The government is according high priority to the economy but at the same time, security issues are also important and the government cannot work in "silos", the minister said at the Agenda Aaj Tak 2019 here.
 The road transport, highways and MSME minister said situation is challenging but the Indian economy, which is the fastest-growing economy, will progress fast.
 "The mission is to create five crore jobs... We are giving attention to the economy. Developing infrastructure, rural agriculture and tribal development is also our priority," Gadkari said.
 In reply to a question, Gadkari said, "There is an integrated approach. India's economy is important but security is also important... The government has to work on various subjects at a time. We are giving attention to the economy. Developing infrastructure, rural agriculture and tribal development is equally important," he said.
 He added that the government does not run in silos and has to take care of all aspects.
 The minister said comprehensive plans are on to develop MSMEs that account for 29 per cent of the growth.
 On the highways front, the minister said that work worth Rs 17 lakh crore will be done in five years, including projects worth Rs 2 lakh crore by March and Rs 3 lakh crore in the next year.
 "Highways and shipping combined had witnessed work worth Rs 17 lakh crore during the previous five years," he added.
 About accidents, he said that unfortunately, these could not be reduced despite a number of steps but efforts are on including Rs 14,000-crore projects funded by the World Bank and the Asian Development Bank to correct highways designing.
 India accounts for 5 lakh accidents per annum in which 1.5 lakh people are killed.
 He said the country needs 22 lakh more drivers and efforts are on to establish driving training institutes and lamented that about 30 per cent of the driving licensees are bogus in the country.
 About highway projects, he said these include Rs 1.30-lakh crore Delhi-Mumbai Expressway, Rs 10,000 Dwarka expressway and Rs 50,000 crore worth of projects to decongest Delhi.
 In reply to a political question about the government in Maharashtra, he said the alliance there was "unnatural" and would be short-lived.
 Participating in the event, Commerce and Railways Minister Piyush Goyal said the country has got an industrious Prime Minister in Narendra Modi who involves himself in discussions on issues but the Prime Ministers' Office (PMO) never interferes in the decision-making process.
 He said that in the past over 5 years, there has been no interference from the PMO. NAM NAM HRS

Mission to create 5 cr jobs; govt taking steps to boost economy: Gadkari

Everyone wants a house in Delhi. And while buying a property in the main city has been a distant dream for many, real estate developers suggested that the property prices across the city has dipped in the past two years. 
	 
	“Residential property prices in several areas of Delhi having declined by 10-20% in 2013 and then stabilized in 2014. Fence-sitters are watching the market movements to determine if prices will slide further,” said Santhosh Kumar, international director at JLL India. 
	 
	He added, “Residential prices in established locations of South and Central Delhi such as Vasant Vihar, Defence Colony, Jor Bagh and Golf Links saw a decline of 15-20% in 2013 and remained at those levels in 2014. A correction in prices was also observed in areas like Westend, Shantiniketan, Prithviraj, Aurangzeb Road and Amrita Shergill Marg, but in a lower range of 10-15%.” 
	 However, property prices in <keyword id="6361586" type="COMPANY" weightage="20" keywordseo="Gurgaon">Gurgaon</keyword> and <keyword id="18858" type="COMPANY" weightage="20" keywordseo="Noida">Noida</keyword> remained stable last year. According to market players, the supply in this market has been more than the demand, which has resulted in excess inventory. “A bad economy made property buyers cautious in their purchases. The consumer sentiment was down coupled with high interest rates. All tthis resulted in a sluggish demand,” said Sunil Singh, a property broker in the region. In order to boost the demands, developers have been doling out heavy discounts on their projects. 
	 
	 Interestingly, the prices in areas such as Neemrana, Sohna and Delhi’s J and L zones recorded an increase of 15% to 35% last year. This is in contrary to the negative market dynamics and the stagnant property prices in Delhi and NCR. “The only exception to the appreciation observed in these locations was Yamuna Expressway, which remained stable. However, low land prices and development potential continue to help Yamuna Expressway remain an attractive destination for investors” added Kumar. 
	 
	BI India shares some tips offered by Kumar for home buyers interested in investing in Delhi and NCR. 
	 
	South and Central Delhi 
	 
	According to Kumar, if you are interested in buying an apartment in South and Central Delhi, then 2015 is a great time to do so. “The next six months are likely to witness an increase in developers’ pain; persistent negotiation can result in excellent deals,” said Kumar. 
	 
	Gurgaon and Noida 
	 According to market players, <keyword id="20486" type="UNKNOWN" weightage="20" keywordseo="Golf-course">Golf course</keyword> road in Gurgaon is the next upcoming area apart from Sohna Road and Dwarka Expressway. However, in Noida, Kumar has advised property investors and home buyers to invest in projects in Noida-Greater Noida Expressway and Noida City, that are being built by developers with proven credibility. 
	 
	Delhi J and L zone 
	 
	For the ultra rich property buyers, buying or developing farmhouses or townhouses is a good option. “However, due diligence highly advised for buyers,” noted Kumar.

You Searched For "Dwarka Expressway" and got 6 results

Emaar India to invest Rs 2,000 cr in 2 years to complete projects

BI India Bureau

Sales of apartments in top 7 cities may rise 20 pc to 2.6 lakh units this year: Report

PTI

Delhi-NCR: 5.68L houses under construction; periodic bans add to buyers' woes

IANS

Projects worth Rs 50,000 cr underway to decongest Delhi roads : Gadkari

PTI

Mission to create 5 cr jobs; govt taking steps to boost economy: Gadkari

PTI

How to know for sure if 2015 is a good time to buy property in Delhi?

Purba Das

Popular Keywords

Buying Guides