Tag Archives: real estate news

Supertech promises delivery of flats by July 2022

Posted on by
Reply

The Supertech Group has assured its buyers of fast delivery of flats in Noida, Greater Noida and other cities after the Uttar Pradesh Real Estate Regulatory Authority (UP-Rera) warned it of action if they fail to do so, said officials on Monday.

“We have asked the Supertech Group to expedite the work so that the units can be delivered at the earliest, without a further delay, after the homebuyers filed complaints in the matter. Our motive of issuing instructions is to make sure that the homebuyers can deliver their respective flat as soon as possible… They have already suffered a lot. If the developer won’t expedite the work and deliver according to the schedule, we will have to take action against it,” said Balvinder Kumar, member of UP-Rera — a quasi-judicial expert body formed by the state government to address issues faced by the real estate sector and homebuyers.

Also Read – Supertech defends twin towers as legal; to file review petition against SC order

Reacting to the development, the chairman of Supertech Limited, RK Arora, said that it will deliver all incomplete units by July 2022, under its ‘mission completion programme’ to ensure that the homebuyers receive the units in time.

The realty sector is facing a major crisis as its Emerald Twin Towers project at Sector 93A is facing demolition, following orders from the Supreme Court.

It claimed that on Diwali, it has delivered nearly 800 units to its customers in different projects in Noida, Greater Noida and the Yamuna Expressway. And more than 200 units were delivered to the buyers in Meerut, Gurugram and Dehradun, among other cities.

“The real estate sector has been facing a slowdown and a financial crisis due to the impact of Covid-19 pandemic. But we are working day and night to ensure that the homebuyers receive their units without any hassle in the future. We will deliver all flats by July 2022. We have prepared a roadmap for the delivery so there’s no further delay,” said Arora.

Source – Hindustan Times

Real Estate Guide: How is Gurugram’s ATS Cocoon Project

Posted on by
Reply

Gurugram, a magnificent city in the South West of Delhi. The city is also known as the Satellite City of Delhi. After the manufacturing plant of Leading Automobile Company Maruti in 1970, the city changed its pace and in today’s Gurugram, not only the country but well-known companies have made their whereabouts. Apart from being a very special part of the NCR, Gurugram is a source of employment for millions of people, due to which the infrastructure and real estate has grown very fast in a short time. Due to the good demand of property, many property destinations are being prepared in the new sectors of Gurugram. One of these is Sector 109 of Gurugram which is connected to Dwarka Manesar Expressway and Delhi border is also very close to Sector 109. Talking about connectivity, the metro station of Dwarka Sector 21 is near here, while the International Airport is also very close from here.

Now let’s talk about NCR’s renowned developer ATS Group. ATS Group has been in the real estate business for more than 17 years. The company is headed by Gitambar Anand Ates Group and also the chairman of CREDAI, an association of real estate developers across the country. Starting with its first project, ATS Green, in Noida, the ATS Group created a large number of projects and focused its attention on the residential project. Atis Group gives a special preference to real estate in North India that is why the company has projects in cities like Noida, Greater Noida, Gurugram and Chandigarh. ATS is very serious about quality construction and timely delivery. This is the reason that the company has made a special place in the eyes of customers and a different identity in the market. This is the reason why more than 20 thousand people are living in ATS projects today.

Now let’s talk about ATS Group’s project ATS. Atis Cacoon is becoming a special and emerging location of Gurgaon in Sector 109. ATS has formed this project by colluding with the Chintales Group. This 11-acre project is planned beautifully. The project has a total of 6 high rise towers with 3 and 4 bedroom houses built. It has 2 types of options in 3 bedrooms and one in 4 bedrooms. To see their area, the 3 bedroom area is 1745 sq ft, while the 3 bedroom flat of 2095 sq ft also has a servant quarter. The 4 bedroom area is 3045 sqft and the area of ​​the largest house i.e. paint house is 4450 sqft and 1875 sqft terraced area. About 444 houses have been built here.

ATS Kakoon is designed by the country’s renowned architect Hafeez Contractor. In this, the placement of towers has been done in such a way that there is no obstruction of air from any direction. In every house, along with cross ventilation and sunlight, privacy has also been taken special care of here. ATS takes special care of the landscape and openness in each of its projects, which you will realize by the greenery spread around the project. A fairly large lawn and green area is built between all 6 towers. A walkway and sitting area have also been built between this green area.

The elevation and construction of ATS cocoon is as magnificent as the eminities present here. The central lawn area itself has a club house, a large swimming pool for children and adults in the middle of the club, Modern Gymnasium, indoor games such as table tennis, billiards and pool.

ATS cocoon has a price of 6000 sq ft. To understand it in a little detail, the price of a 3 bedroom with 1745 sq ft will be around 1.25 crores, while the 3 bedrooms of 2095 sq ft will be worth about 1.50 crores. The total cost of 4 bedrooms of 3045 sqft is about 1.90 crores, while the price of 4450 sqft pent houses with 1850 sqft terrace will be around 3.75 crores.

It is not that houses are being built in ATS cocoon only for higher income people. As per government regulations, 106 houses have also been constructed in ATS cocoon for EWS i.e. economically weaker people, which are allotted to the people through the government-run lottery system.

India’s real estate sector on the path of growth: report

Posted on by
Reply

The economic changes taking place in India, increasing the number of workers and increasing urbanization will increase investment opportunities in the real estate sector in the next decade. This estimate has been expressed in a report. Giving this information in the joint report released by CREDAI and CBRE at the real estate conference here, it is said that in the coming time, there will be an increase in demand for properties in residential area, office, retail and warehouse sector in India.

CBRE said in the report that the real estate sector will grow rapidly by 2030, spearheading new asset categories such as working together, living together, residential facilities for students and real estate investment trusts. The report said that by 2030, the size of office-related assets will increase to one billion square feet and it will have eight-10 percent share in the flexible working area.

According to the report, by 2030 the retail stores stock will reach 120 million square feet and storage stock will reach 50 crore square feet. During this period, the residential sector is expected to almost double from the existing 1.5 million units. CREDAI-CBRE report states, “With the changes in the Indian economy and the expansion of its workforce, it will have huge potential for growth and investment in the real estate sector.”

Along with the development of cities in India, it will also have an impact on the environment of the construction sector. During this time, issues related to technology, demographic and environment will become carriers of new values. In his response to the report, CREDAI President Satish Magar said, “India will remain a high priority market in terms of long-term growth potential.” This is proved in view of the increasing investment in the area during the last few years.

Anshuman Magazine, chairman and CEO of CBRE, India, South East Asia, West Asia and Africa, said, “With positive policy reforms and the emergence of a strong workforce, the pace of economic growth in India remains stagnant and in the coming ten years it will only be Will move strongly.

Size of houses reduced by 27% in seven major cities in 5 years, know the difference

Posted on by
Reply

The average size of residential flats in major cities of the country has come down by 27 percent. A report by Anarock concludes. However, the average size of flats in the National Capital Region (NCR) has decreased by only six percent during this period.

Anarok chairman Anuj Puri said in a statement on Monday that due to the cash crunch, change in buyers preference and concerns over the price of houses, the builder is now focusing on building small housing units in seven major cities, moving away from ‘big is better’ Have been.

The property advisor said that the average size of flats in seven major cities … Mumbai Metropolitan Region, Delhi-NCR, Pune, Chennai, Bangalore, Hyderabad and Kolkata has come down by 27 per cent to 1,020 sq ft in five years. In 2014 it was 1,400 square feet.

Puri said that the surprising thing is that NCR’s realty market has been the most affected in recent years. But the average size of flats in NCR has come down by only six percent. Currently, the average size of flats in NCR is 1,390 square feet.

The average size of flats in Mumbai metropolitan area has come down by 45 percent to 530 square feet from 960 square feet in 2014.

The average size of flats in Pune has come down by 38 percent to 600 square feet. According to the report, the average size of flats in Chennai, Bangalore and Hyderabad has fallen by eight percent, nine percent and 12 percent respectively.

The flats in Hyderabad is currently the highest in the top seven cities, ie 1,570 square feet. It is 1,300 sq ft in Bengaluru and 1,190 sq ft in Chennai. Th flats in Kolkata dropped by nine per cent from 1,230 sq ft to 1,120 sq ft in five years.