Dharuhera: Bridging distances

Dharuhera and Bhiwadi, which are now easily accessible through Gurgaon-Jaipur highway, are an ideal destination to set up homes for scores of middle class families who cannot otherwise afford a house in Gurgaon or Delhi. The townships are better developed in terms of industry and infrastructure, making it more feasible for real estate development, compared to Manesar. With Gurgaon becoming a megapolis, and over commercialization turning into a bane, prospective buyers now have to scout for alternative destinations around the city. The beneficiary of this spillover is NH-8, also known as the Jaipur highway. Two places benefiting directly from this malady, something that is fast becoming visible as well, are Dharuhera and Bhiwadi. Located along the NH-8, they promise to grow bigger in the years to come. Already dotted with scores of industrial units manufacturing everything from sanitary ware and biscuits to auto components, some realtors say the Reliance SEZ could have a two-fold effect on real estate development in Neemrana. Coupled with the already skyrocketing property rates, Neemrana is also expected to be the most viable option for those looking for a weekend home. Experts say it would still turn out to be cheaper than staying at the Fort hotel. AC Michael, general manager (Corporate Communications) of BPTP Limited, says the graph, has already started on its upward swing. The proposed 25,000-acre Reliance Industries Limited (RIL) promoted special economic zone (SEZ) promises to change the face of the road. To be set up on land stretching along Garhi Harsuru near Manesar and Badli on the Farrukhanagar-Jhajjar road, India’s largest SEZ promises to catalyze investments up to Rs 1,00,000 crore, when completed in 5-10 years. To top it, the much-awaited Kundli-Manesar-Palwal expressway will also cut through NH-8, further fuelling rates in Bhiwadi, Neemrana and even in the outskirts of the Pink City — Jaipur. Since the RIL announcement, although the market was facing a downturn for some time now, realty rates in the area have not fallen. And, once again, Dharuhera and Bhiwadi have cashed in on this phenomenon. This is a reason why every major builder in the NCR has invested here and is developing apartment complexes/townships. According to Sandeep Goel, MD of MSX Developers Pvt Ltd, Dharuhera, even before Bhiwadi, has witnessed record progress on the industrial front in Haryana, in the last few years. The fast-paced industrial and IT development taking place in the area has provided impetus for a rapid growth to real estate and encouraged developers like Parsvnath, Omaxe, Dwarkadhis, GTM, Raheja, Bestech, Avalon etc, to set up townships and retail centers in the area. This naturally puts pressure on the housing needs, prompting real estate developers to cash in on the boom. Though primarily an industrial town, Bhiwadi picked up momentum after residential developments started mushrooming in the area a few years ago. Being the gateway to Rajasthan, it is now the most promising industrial area in the NCR where more than 1,400 industries are already operating. The town is also building a dry port to allow direct dispatch of export consignments. Rohit Modi, MD of Aashiayana Group, says the town now boasts of state-of-the-art residential projects, including a retirement village. He adds that as people make a beeline for Gurgaon, Bhiwadi will be the next big stop in the area. Rakesh Yadav, MD of Antriksh Group, says with regular transportation system operating between Delhi and Bhiwadi and with the proposal to convert the Delhi-Jaipur highway into an expressway, it won’t be long before you have breakfast in Bhiwadi, lunch in Delhi and dinner back in Bhiwadi. In fact, real estate developers says Bhiwadi is one of the most suited destinations for both working-class couples in the NCR and even senior citizens who want to settle down in a peaceful and pollution-free environment. Experts say it would still turn out to be cheaper than staying at the Fort hotel.

(http://content.magicbricks.com/delhi-jaipur-highway-on-fast-track)

Neemrana likely to get new airport

With a push from the Ministry of Commerce and Industry, Rajasthan may soon see two new airports — in Neemrana and Jodhpur — while the international airport in Jaipur may be upgraded.
Saying that Union Commerce and Industries Minister Anand Sharma had pledged his full support, Chief Minister Ashok Gehlot said the airports would help boost exports from Rajasthan.
According to the state bureau for investment promotion, the Neemrana and Jodhpur airports would serve two national investment and manufacturing zone (NIMZ) projects already notified by the union cabinet. “The approval for the Neemrana airport has been given, but Anand Sharma has promised to expedite its realisation,” Gehlot said.
The two NIMZ projects include the Khushkhera-Bhiwadi zone and the Jodhpur-Pali zone. While the former has already been approved, the latter is to be developed in the near future.
“The Government of India will fund the cost of infrastructure of Rs 2,500 crore for five years for the Khuskhera-Bhiwadi Zone,” said Sharma, a Rajya Sabha member from Rajasthan.
Sharma and Gehlot held several meetings on Friday and Saturday to discuss among other industrial projects, the Delhi-Mumbai Industrial Corridor (DMIC). The union minister also inaugurated the country’s second spice park in Jodhpur on Saturday.

(http://www.indianexpress.com/news/rajasthan-likely-to-get-2-new-airports/933873/)

Raheja Developers to invest Rs 300 crore in group housing project at Dharuhera

Raheja Developers today said it will invest about Rs 300 crore in a group housing project at Dharuhera in Haryana over the next 4-5 years.
The project, Oma, will house 640 apartments and will be one of the tallest buildings in the area with 40 storeys, the company claimed.  ”This is a very important project for us that will have all the luxury elements. We have already started construction and will invest about Rs 300 crore to develop it,” Raheja Developers Chairman and MD Navin M Raheja said on the sidelines of an Assocham event on green buildings here.

The company will take slightly longer duration to complete the project than in usual cases due to its height and will hand over the flats in the next 4-5 years, he added.
“We are targeting foreign nationals working in different MNCs, especially those in the auto firms, located in the industrial areas nearby. We are offering a wide range of flats from 1-BHK to 6-BHK,” Raheja said, adding the total number of flats will be 640, including service apartments.
The sizes of the flats will vary between 550 sq ft and 4,500 sq ft. The company will offer the apartments at a price ranging from Rs 17.5 lakh to over Rs 1 crore, he said.  When asked about source of funding, he said it will primarily be internal accruals.
Elaborating the project, Raheja said ‘Oma’ will offer a host of facilities of “global standards” to the residents such as international restaurants, spas and swimming pools. Last year, Raheja Developers had announced its plans to build the tallest housing project ‘Raheja Phoenix’, comprising a 54-story tower with a helipad, in the heart of the National Capital for about Rs 300 crore.
At present, Dr Shyama Prasad Mukherjee Civic Centre that houses the headquarter of Municipal Corporation of Delhi is the tallest building in Delhi that has 28 storeys with a height of 112 metres.
The company had also formed a joint venture with Dubai-based Arabtec Construction to build real estateprojects in India and awarded contracts worth Rs 1,020 crore to the JV firm for three housing projects.
Arabtec Construction, which built the world’s tallest tower Burj Khalifa in Dubai, holds 63 per cent in the JV ‘Arabtec Raheja’ and the remaining 37 per cent lies with Raheja Developers.  The JV will develop the housing project ‘Raheja Revanta’ with 56 storeys (195 metre) in Gurgaon comprising 1,200 units. It will later build the ‘Raheja Phoenix’.

 The height clearances for both the building has been cleared by the Director General Civil Aviation.

(http://articles.economictimes.indiatimes.com/2012-03-27/news/31245211_1_housing-project-tallest-tower-burj-khalifa) 

Tips for Fire Safety in Your Home

In an instant, a fire can turn from a controlled flame to an out-of-control fire that destroys a home. That’s why the time to take action for an unexpected event, or to ward one off, is before it ever starts.

According to Federal Emergency Management Agency, (FEMA), 78 percent of all structure fires occur in residences — both apartments and single-family homes. Nearly all fires are accidents and most are preventable — with fireproofing.

But there’s more to fireproofing a home than keeping a fire extinguisher on hand and testing fire alarms. To keep your home safer, consider a few these tips:

Kitchen

• According to FEMA, the greatest cause of kitchen fires is unattended cooking. The best defense is to never leave things unattended — especially on the stove top. For things in the oven, set a timer if you have to leave the room. Regular oven checks are also a good idea.
• Kitchen counters are often cluttered with flammable items: paper towels, oven mitts, papers. Keep clutter to a minimum, especially near stove tops.

Bedroom

• Only use electric blankets and space heaters that have been approved by ISI. 
• Do not trap electric cords against walls or under the bed where heat can build up.
• Piles of old clothing and papers can create a flammable hazard that spreads fire quickly. Clean out closets and storage places regularly.
• Do not drape clothing (scarves, hats) on top of lamp shades. It doesn’t take much for the clothing to ignite from the heat of the bulb.

Electrical and Appliances

• We all do it occasionally, but leaving an appliance on — even the dishwasher — greatly increases the chances of a fire. The appliance can short out and spark, which can shortly turn into a disaster if you’re not home.
• Check appliance and fixture cords for fraying.
• Never overload an outlet with too many things plugged in. If you continually trip a circuit and blow a fuse, you’re increasing your fire risk. Call an electrician to get to the bottom of the problem.
• Never leave your home with the clothes dryer running.
• Clean out dryer lint traps, stoves, and replace filters on your vacuum and furnace.
• Have your wiring checked out, especially in older homes, and in crawl spaces and attics where sparks can ignite dry insulation. Older knob-and-tube wiring can deteriorate over time and the wires can become exposed.

Insurance

Despite your best efforts, no home will ever be completely fireproof. Make sure you’re familiar with yourhome insurance or renters’ insurance policies in case of a fire.

Budget 2012 impact: Housing prices likely to rise on increase in service tax

Housing prices are all set to increase marginally due to the proposal to increase service tax by 2 per cent, realty players said on Friday. 

"Application of TDS on the purchase and sale of property and increasing Service Tax by 2 per cent will further add on to the overall cost of property and are bound to make property more costly in coming days," Confederation of Real Estate Developers' Association of India (CREDAI) Chairman Pradeep Jain said in a statement. 
Realty consultant DTZ said that increase in the service tax is going to further increase marginally the overall burden on the home buyers of mid and high segment (dwellings costing more than 25 lakhs). The impact of service tax would be about Rs 40,000 on a Rs 75 lakh home. 

However, DTZ said that affordable housing, being part of negative list, is exempted from service tax and the move would give a boost to the affordable housing segment. 

Property consultant CBRE South Asia Chairman and Managing Director Anshuman Magazine said the budget did have positives for realty sector, such as external commercial borrowing (ECB) for low cost housing, extension of interest subvention scheme for low cost housing and service tax exemption on low cost housing upto an area of 60 sq meter. 

Giving mixed reaction, Jones Lang LaSalle India Chairman and Country Head Anuj Puri said that "the increase in the service tax rate from 10 per cent to 12 per cent will increase the cost of production for developers, who are already reeling under high input costs. It follows that this increased burden will be passed on to end users".

Omaxe Chairman Rohtas Goel noted that budget would give boost to affordable housing, but felt that "what nullifies the above positivity is an increase in service tax and excise duty to 12 per cent each resulting in an increase in cost of raw material". 

Puri of JLL India said that exempting proceeds from the sale of a residential property from capital gains tax if they are invested in equity or equipment of an SME would provide home owners with more reinvestment options. 

In Budget for 2010-11, Finance Minister Pranab Mukherjee had brought development of real estate complexes under the ambit of service tax unless the entire consideration for the property is paid after completion of construction. 

Complex is defined as consisting of more than 12 residential units. The service tax is levied on 25 per cent of the gross sale value of property.

(http://economictimes.indiatimes.com/markets/real-estate/news-/budget-2012-impact-housing-prices-likely-to-rise-on-increase-in-service-tax/articleshow/12296550.cms)