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RTR flyover in Delhi set to open by 30 June | Weekly News Roundup | RealtyMyths

We’re back to spam you with latest real estate updates, so let’s begin!  Naresh Kumar, NDMC chairman, declared that The New Delhi Municipal Council (NDMC) has completed 72 projects under the smart city mission, including the water ATMs installation, underground bins and decentralised sewage treatment plants. The Comptroller and Auditor General (CAG) will conduct the structural audit of bridges in Mumbai constructed by the local civic body in the last five years, because of the dilapidated condition of various bridges in the city. Lt Governor Anil Baijal launched Delhi’s own official RERA portal to encourage transparency and accountability in the real estate sector. The Tamil Nadu government is asking Prime Minister Narendra Modi to intervene and reject outright the Karnataka government...

Housing for All 2022: Will the Mission Achieve its Deadline? – RealtyMyths

by Akhilesh K Prasad Launched in early 2015, the “Housing for All by 2022” is a flagship project of the Modi government. It seeks to address the housing requirements of Economically Weaker Sections (EWS), Lower Income Groups (LIG) and Middle Income Groups (MIG). The government recognises that there is an urgent need for urban housing as the number of people migrating to urban centres in search of employment and better opportunities is likely to increase manifold in the coming years. The project struck a chord with beneficiaries and those in anticipation. It was listed among the reasons for Modi government winning a second term in the recently concluded general elections. However, ever since its inception, the scheme has been under constant scrutiny and has had to face several challenges bo...

Pre Budget Expectation ~ Surendra Hiranandani, Founder & Director, House of Hiranandani

Surendra Hiranandani We hope for measures that will enhance the overall economy instead of specific sectors. Also, the announcements must be backed by concrete plans to ensure that the benefits are percolated to the consumers. From a real estate standpoint, the last year was largely spent getting acclimatized to the new policies which ushered better transparency and accountability in the sector. While the Government has taken several concrete measures, there is still a long way to go. We hope that the government looks into some of the key concerns raised by the industry and addresses the same soon. The Indian real estate sector is the most highly taxed with the combination of high direct and indirect taxes, stamp duties and levies for development approvals. These extraordinarily high taxes...

PE Funds Inject $1.1 bn into Logistics & Warehousing in 2 Yrs

Shobhit Agarwal Private equity (PE) funds altogether pumped nearly USD 9.7 bn into Indian real estate between Q1 2017 and Q1 2019 – but into more sectors than the ‘usual suspects’ of commercial and residential projects. Logistics & warehousing is a bright new spot on the Indian real estate heatmap. Infrastructure status, the multi-modal logistics park policy and implementation of GST has caused private equity firms to take a greater interest in logistics and warehousing sector. Private equity funds altogether pumped in excess of USD 1.1 bn in logistics and warehousing sectors between Q1 2017 to Q1 2019 as against zero investments during 2015 and 2016 combined. Interestingly, the Southern cities of Bengaluru, Chennai and Hyderabad saw maximum interest by investors, fol...

Rainwater Harvesting – How Long Can India Afford to Ignore It?

by Santhosh Kumar India, which depends almost completely on the annual monsoons, currently faces the most severe water crisis in the annals of its known history. A recent report by NITI Aayog predicted that as many as 21 cities in the country will see the total depletion of their groundwater by as early as 2020. Even today, our cities run dry like clockwork during summers. Nevertheless, there is still not enough awareness about the simple solution of rainwater harvesting in India. Can we really afford to neglect this straightforward solution any longer? Cities that Rose to the Challenge: In Bangalore, the Bangalore Water Supply and Sewerage Board (BWSSB) has mandated that every structure built on 30×40 sq ft and above and old buildings built on 40×60 sq ft above should install ra...

Wadhwa Group to invest in the 1st two phases of Wadhwa Wise City

The Wadhwa Group, one of India’s leading real estate development companies and a prominent realty player in Mumbai, is planning investments of Rs 2200 crores in the first two phases of Wadhwa Wise City. Estimated revenues from these phases of the first integrated township project in NAINA (Navi Mumbai Airport Influence Notified Area) at Panvel is Rs. 3200 crores. Out of the total land holding of over 450 acres, The Wadhwa Group is planning to develop 138 acres which comprise of 10mn sqft of the overall development. Wadhwa and GFH, a Bahrain based financial investment Group are jointly developing the township and have launched apartment and bungalow project of over 40 acres. After the inauguration by Chief Minister of Maharashtra Shri Devendra Fadnavis last year, the project saw a huge resp...

Emerging Hotspots in Delhi-NCR for Real Estate Investment

With increasing urbanisation, the number of people looking to invest in the National Capital Region is increasing day by day. The region has always attracted real estate investors with its lucrative returns opportunities. The increasing demand for the real estate sector has given birth to new areas across Delhi-NCR, which are becoming new hotspots for investors. The newly developed regions have opened the way to homebuyers who are seeking to own a property here. This has also increased the job opportunities for the people with well-developed infrastructure which gives a ray of hope to the developers of the region. Old Gurgaon is attracting investors and NRIs alike. Most of the demand and supply for residential property has been concentrated in the mid-end to high-end segments. The future s...

AlphaCorp launches Atulyam under Deen Dayal Jan Awas Yojna in Karnal – RealtyMyths

-AlphaCorp offers plots under the scheme -Deen Dayal Jan Awas Yojna is an initiative of Haryana Govt. with an aim to provide housing for all by 2022 -AlphaCorp organizes bhoomi poojan of the project Affordable housing has revolutionized the Indian real estate sector. The concept is concerned with providing units which are affordable by the low and medium section of society. On the same lines, realty player AlphaCorp has launched Atulyam in Alpha International city, Karnal. To mark the foundation laying of the project, the Group organized ‘Bhoomi Poojan’ on 7th May 2019. The event took place in the presence of AlphaCorp employees and its partners, residents of AICK, and few buyers. Alpha Atulyam has been launched under Deen Dayal Jan Awas Yojana which has a vision of housing for all. It aim...

Dr Neelam Gupta: The Need to Reclaim Public Spaces in WEF 2019 – RealtyMyths

Women Economic Forum (WEF) is a prestigious global platform that fosters conversations, community, connections and collaborations among women worldwide. The event helps in enabling an ecosystem of exchange, sisterhood, inspiration and propelling women’s economic empowerment and influence in ALL walks of life. Dr Neelam Gupta, President & CEO of AROH Foundation, participated in this year WEF held on 15th April’19 at Vivanta by Taj, Dwarka Delhi and was one of the panellist speakers during the event. Dr Gupta shared her thought-provoking views & initiative towards the disdained but crucial agenda of Reclaiming our Public Spaces with Security.  She reiterated, “Public spaces are the heart and soul of cities and citizens. They should be reclaimed and preserved to maintain the san...

Dr Neeelam Gupta of AROH Foundation gets CSR Leadership Award – RealtyMyths

Dr Neelam Gupta, President& CEO, AROH Foundation, was awarded the prestigious CSR Leadership Award for her extraordinary contribution towards the social causes. The Award was presented at the CSR Leadership Summit organised by India CSR on 1st April 2019 in Delhi. Rahul Roy, the renowned actor and philanthropist gave away the awards. The Summit also held day-long deliberations and reflections by the thought leaders on the 5 years of CSR mandate in India. In her address, Dr reflected upon the problems and challenges in CSR and suggested ways to overcome the challenges. She said, “After 5 years of statutory mandate, CSR in India should now emerge as a strong, unified force – collating and connecting the dots of deficiency in development and addressing them with innovations an...

Future Group’s Food Hall to focus more on ‘Farm to Fork’ concept; to source products from ‘India Food Park’

Food Hall, Future Group’s farm fresh retail chain will now focus more on ‘Farm to Fork’ concept. Ms Avni Biyani, Concept Head of Food Hall, Future Group said this while addressing an interactive session ‘Transforming retail landscape: innovative concepts and new opportunities’  organized by FICCI Ladies Organisation (FLO) on February 5, 2019 in New Delhi. Ms Binani said, “Future Group’s premium lifestyle and food superstore ‘Food Hall’ which has 12 outlets in Delhi Mumbai and Bangalore have been the first format in India to champion the availability of international products and the brand has noticed an exponential growth year-on-year. Over time, it has noticed that cuisine based products have been showing rapid growth.” She then informed, “The Food Hall and Future ...

Savills expands its presence in India

Savills India appoints Anurag Mathur as CEO and Pankaj Sharma as CFO/ COO Expanded business to operate from Delhi, Mumbai, Bangalore, and Hyderabad International real estate advisor Savills today announces the planned expansion of its Indian business into a full-service platform. The expanded Savills India business will be led by new CEO, Anurag Mathur, and will initially operate from offices in New Delhi, Bangalore, Hyderabad, and Mumbai with a focus on delivering the best real estate advice and services for its clients. Anurag is an industry veteran, with in excess of 24 years experience in the Indian real estate sector, most recently as the Head of Project and Development Services and Emerging Businesses for JLL in India. Before that he spent 14 years at Cushman & Wakefield India wh...

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