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The MMR was notified in 1967, in an effort to address the rising problems faced by inhabitants. More areas were also included in the region and today the MMR covers Greater Mumbai, Thane, Kalyan and Navi Mumbai, apart from several more towns and villages. Over the years, property price rise has been astronomical in the original core parts of Mumbai.
Indirapuram has been the introduction of Delhi-Noida-Ghaziabad to modern living that was till then the privilege of only the luxury buyers of Gurgaon. Most of the residents of Mayur Vihar, IP Extension and adjoining areas of Delhi were exposed to the modern urban housing with club, swimming pool and other high-end amenities in this market. Other residents of Noida and Ghaziabad had till then availed only the plotted developments and apartment with amenities was introduced to them here only.
The question is in the absence of high paying economic activity like IT/ITeS will the city keep the desired pace to sustain the projected growth and the life style. Critics often point out that in the absence of steadfast pace of economic activity the market may end up being another investors’ haven. However, developers active in this market maintain that more employment opportunities have seen people preferring to stay in Bhiwadi than commute to work. Also, a large number of floating population from nearby cities and across the country is still high, which needs to be catered to in terms of their aspiration and lifestyle choices. The rise of nuclear families have further seen emergence of more demand for dwelling units in the region.
Independent study has pointed out that Noida’s 14 lakh population generates nearly 660 tones of waste daily. However, the 40-year-old city still does not have a landfill site to dispose its municipal solid waste, which instead is dumped on roadsides and in vacant spaces. The large chunk of this waste is, of late, being dumped along the Noida Expressway.
Ready to move apartments are even bringing the fence sitting buyers back to the market now. With many ready to move and near completion projects available in the Mumbai market, the prospective homebuyers are now coming forward for the standing inventory with more confidence.
Delhi-NCR based Central Park is venturing into commercial real estate with an investment of about INR 2,000 crore. Central Park will develop a 40 lakh sq ft mixed-use project in Sector 67, Noida which is also its first project in Noida.
Somil has over a decade of experience with leading organizations like Airtel and Cisco, across different functions and geographies. In his last role at Airtel, he was responsible for driving product innovations for the national mobile internet business and leading strategic business partnerships.
The story goes like this: builder accuses Noida Authority CEO of demanding bribery and harassing for free flat. Abhay Kumar took the moral high ground to sound like a war cry for clean system when he levied strong charges against Noida Authority incumbent CEO of continuous harassment after former declined to provide him with a free flat in his project at Sector 77, Noida.
The buyers can also check whether the developer has put in place systems that manage household waste and construction waste, reuse of salvaged material and recycling. For example, some of the developers are using garbage chute that collects the food waste of residents and transfers it to the compost machines to make compost for the green area maintenance. These are the features that really make a project environment friendly and the buyer can ask for these details in writing.
Goa real estate has been witness to a prolonged spell of slowdown and both the homebuyers as well as the developers have waited for long to see a turnaround. Slow moving market, demonetization, GST and RERA have collectively led to a situation where the fence sitting buyers have preferred to defer their decision of buying a house. While the first three factors have dented their confidence, RER