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Gurgaon Shining or Dying

Last updated: February 23 2013
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  • #21

    #21

    Re : Gurgaon Shining or Dying

    I also read this article.

    It does not say how much prices will increase - very irritating
    Venky (Please read watch a or before posting)

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    • #22

      #22

      Re : Gurgaon Shining or Dying

      Is Gurgaon A Right Place To Buy Property

      Property market in Gurgaon is reaching sky-high levels by leaps and bounds. Back in time, real estate was thought to be an unorganized market mostly dominated by regional players. But, now things have changed completely. This sector is increasingly being looked upon as to be peopled by renowned developers and managed by professionals. Gurgaon real estate is believed to have driven forward the development process in other parts of the country as well. Once a highly fragmented business dominated by region-based private entrepreneurs has now become a national and global business.
      The real estate business in Gurgaon is surging ahead sharply. Its business environment, improving infrastructure coupled with the growing financial strength and changing lifestyle of the residents are the main factors persuading real estate developers to bring more and more frenetic developments in this rapidly flourishing cyber city.
      With Gurgaon being recognized as a major hub of multinational companies setting up their bases in great numbers, there is no scarcity of funds. Surprisingly, Gurgaon is standing as a city offering high returns on property investments on hand. Roll eyes in either direction if you talk about commercial or residential real estate, you will see development taking place to the fullest. As the demand for residential housing is rising up as never before, it is an opportune time to make investments in the residential segment. Domestic and international property enthusiasts, especially Non Resident Indians (NRIs), are keen on making investments here.
      Gurgaon is witnessing huge foreign investments which will be a promising factor of high return on investments, as Foreign Direct Investment (FDI) policies in India are among the most liberal and attractive in emerging economies. So, making investment in Gurgaon properties is a good idea.
      Gurgaon has always been topped the chart on real estate values. Land rates in Gurgaon are already skyrocketing and they are to increase further as the city continues to expand day by day. However, land still remains an attractive investment option that could come by for investors. Property in central areas of Gurgaon is getting fair appreciation from real estate investors. It seldom has chances to multiply over the next several years.
      Development of several Special economic zones (SEZs) will give a further impetus to real estate business in Gurgaon and thereby turning the city into a real competitive IT center is not an unfulfilled dream. Subsequently, property rates in Gurgaon are high and at par with some of the high-priced metros in India.
      Another round of escalation of prices cannot be ruled out keeping in mind the establishment of world-class industries and infrastructures and giants are setting up substantial presence. With a multitude of skyscrapers set to *** the skyline, the time is not so far when Gurgaon will be recognized as a ‘city of skyscrapers’.

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      • #23

        #23

        Re : Gurgaon Shining or Dying

        Tinesha,

        Both articles posted by you r almost dramatically opposite to each other. Which one do u believe is right/correct ?


        Originally posted by tinesha
        Hines India Expects a Correction in Real Estate Markets


        New Delhi: The local unit of the US-based real estate firm Hines Interests Lp., Hines India Real Estate Pvt. Ltd, says it plans to be conservative in making investments because it believes the Indian real estate market is overheated and ready for a correction.

        Land prices in India have seen a dramatic increase in the last two-three years, with values tripling in some of the top cities and industrial hubs, creating a new breed of rich among land owners, who in turn have bought more real estate for speculative gains. The rapid escalation in land prices suggests a bubble, says Daniel MacEachron, managing director, Hines India.

        “The real estate bubble will not burst in the sense that prices will collapse,” he said. But he expects there will likely be a correction in prices up to 50% noting that, “even that is not a huge reduction considering the fact that prices have doubled and tripled in the last couple of years.”

        A bubble typically occurs when asset values get over-inflated, and when investors no longer see value in those assets it leads to a sell-off that can lead to a sharp downward revision in prices. “Hines has always been a conservative firm. We want to be careful about where we invest our money,” MacEachron said.

        Hines, a real estate development and investment firm, has built many landmark towers, such as the Bank of America Center in Houston, the EDF Tower in Paris, the Embassy House in Beijing and Harris Bank Complex in Chicago. Hines has set up a $300 million (Rs1,182 crore) equity fund to invest in real estate projects in India. The company plans to invest this money in three-five projects over the next three years.

        This even as real estate prices have already softened by 15-20% in overheated pockets such as Gurgaon and Noida near New Delhi, according to estimates from several real estate consultancies.

        While there are large tracts of land in India, land prices had shot up because of artificial constraints to acquiring land, MacEachron said. “Ownership of land and land titles are not clear in India. There are no clear land records here unlike in other countries.”

        In August, Hines formed a joint venture with DLF Ltd, India’s largest publicly traded real estate firm by market capitalization, to develop an urban mixed-use complex spread over 15 acres in Gurgaon. This complex will have a 30-storey high office tower, high-end retail shops, restaurant and entertainment venues, and a hotel.

        Hines has committed an equity investment of $50 million in this project. This investment will be made out of the fund set up by Hines. The total estimated cost of the project is around $200 million.

        Just as Hines is investing in Indian real estate despite its cautionary approach, overseas money continues to pour into the sector.

        Nakheel Llc., a United Arab Emirates-based developer, along with DLF, plans to pump in as much as $10 billion in just township projects in India. Several other firms have also committed millions of dollars on the assumption that India’s real estate story is only going to get better.

        Foreign real estate firms and private equity funds are keen on investing in the Indian real estate market, as the return on investment is higher in India compared with more developed markets such as the US. Hines expects to get a 20% return on its investments after taxes after it exits the investments, typically over a period of three years.

        According to an Ernst and Young real estate report, nearly two-dozen US funds such as Blackstone Group ($1 billion) and man Sachs ($1 billion) are raising funds for investment in Indian realty sector. Other funds such as Berggruen Holdings ($200 million), Kenmore, Bluestone Quantum Management Pvt. Ltd are also set to invest in the Indian real estate market.

        Over the next three years, Hines plans to build one or more high-rise residential and commercial towers in India and an integrated township spread across 100-200 acres in partnership with local developers.
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        • #24

          #24

          Re : Gurgaon Shining or Dying

          Originally posted by MANOJa View Post
          Tinesha,

          Both articles posted by you r almost dramatically opposite to each other. Which one do u believe is right/correct ?
          Different people think differently . U hv 2 collect all information & act according 2 your mind...

          Comment

          • #25

            #25

            Re : Gurgaon Shining or Dying

            Originally posted by tinesha
            Hines India Expects a Correction in Real Estate Markets


            New Delhi: The local unit of the US-based real estate firm Hines Interests Lp., Hines India Real Estate Pvt. Ltd, says it plans to be conservative in making investments because it believes the Indian real estate market is overheated and ready for a correction.

            Land prices in India have seen a dramatic increase in the last two-three years, with values tripling in some of the top cities and industrial hubs, creating a new breed of rich among land owners, who in turn have bought more real estate for speculative gains. The rapid escalation in land prices suggests a bubble, says Daniel MacEachron, managing director, Hines India.

            “The real estate bubble will not burst in the sense that prices will collapse,” he said. But he expects there will likely be a correction in prices up to 50% noting that, “even that is not a huge reduction considering the fact that prices have doubled and tripled in the last couple of years.”

            A bubble typically occurs when asset values get over-inflated, and when investors no longer see value in those assets it leads to a sell-off that can lead to a sharp downward revision in prices. “Hines has always been a conservative firm. We want to be careful about where we invest our money,” MacEachron said.

            Hines, a real estate development and investment firm, has built many landmark towers, such as the Bank of America Center in Houston, the EDF Tower in Paris, the Embassy House in Beijing and Harris Bank Complex in Chicago. Hines has set up a $300 million (Rs1,182 crore) equity fund to invest in real estate projects in India. The company plans to invest this money in three-five projects over the next three years.

            This even as real estate prices have already softened by 15-20% in overheated pockets such as Gurgaon and Noida near New Delhi, according to estimates from several real estate consultancies.

            While there are large tracts of land in India, land prices had shot up because of artificial constraints to acquiring land, MacEachron said. “Ownership of land and land titles are not clear in India. There are no clear land records here unlike in other countries.”

            In August, Hines formed a joint venture with DLF Ltd, India’s largest publicly traded real estate firm by market capitalization, to develop an urban mixed-use complex spread over 15 acres in Gurgaon. This complex will have a 30-storey high office tower, high-end retail shops, restaurant and entertainment venues, and a hotel.

            Hines has committed an equity investment of $50 million in this project. This investment will be made out of the fund set up by Hines. The total estimated cost of the project is around $200 million.

            Just as Hines is investing in Indian real estate despite its cautionary approach, overseas money continues to pour into the sector.

            Nakheel Llc., a United Arab Emirates-based developer, along with DLF, plans to pump in as much as $10 billion in just township projects in India. Several other firms have also committed millions of dollars on the assumption that India’s real estate story is only going to get better.

            Foreign real estate firms and private equity funds are keen on investing in the Indian real estate market, as the return on investment is higher in India compared with more developed markets such as the US. Hines expects to get a 20% return on its investments after taxes after it exits the investments, typically over a period of three years.

            According to an Ernst and Young real estate report, nearly two-dozen US funds such as Blackstone Group ($1 billion) and man Sachs ($1 billion) are raising funds for investment in Indian realty sector. Other funds such as Berggruen Holdings ($200 million), Kenmore, Bluestone Quantum Management Pvt. Ltd are also set to invest in the Indian real estate market.

            Over the next three years, Hines plans to build one or more high-rise residential and commercial towers in India and an integrated township spread across 100-200 acres in partnership with local developers.
            This article looks outdated and contradicting itself. The headline is about real estate prices reducing, while the company Hines is going ahead and investing. Why would a shrewd PE fund invest, if he expects correction.They should wait for correction !!
            The news about Nakheel( a Dubai based Co) is not correct. The company is in financial stress , finding it difficult to pay its creditors. They have stopped all their existing devlopments in UAE, till debts are restructured. This company is a part of Dubai World which is undergoing debt restructuing. So, I donot belive they are putting $10 billion in India( along with DLF)-They donot have money, and nobody will lend to them under current scenario .
            The sofetning of prices in Gurgaon by 15-20%??? What a joke-Which area in Gurgaon/Noida!!! I donot know what is the purpose of these articles, which headlines on correction but then talks of how comapnies are gun go about the future of real estate !!

            Comment

            • #26

              #26

              Re : Gurgaon Shining or Dying

              Originally posted by Vicky100 View Post
              This article looks outdated and contradicting itself. The headline is about real estate prices reducing, while the company Hines is going ahead and investing. Why would a shrewd PE fund invest, if he expects correction.They should wait for correction !!
              The news about Nakheel( a Dubai based Co) is not correct. The company is in financial stress , finding it difficult to pay its creditors. They have stopped all their existing devlopments in UAE, till debts are restructured. This company is a part of Dubai World which is undergoing debt restructuing. So, I donot belive they are putting $10 billion in India( along with DLF)-They donot have money, and nobody will lend to them under current scenario .
              The sofetning of prices in Gurgaon by 15-20%??? What a joke-Which area in Gurgaon/Noida!!! I donot know what is the purpose of these articles, which headlines on correction but then talks of how comapnies are gun go about the future of real estate !!
              I tried to find out & you are right . I am deleting it now....

              Comment

              • #27

                #27

                Re : Gurgaon Shining or Dying

                Forget potholes, ride pods in Gurgaon:

                TIMES NEWS NETWORK



                Gurgaon: Haryana chief minister Bhupinder Singh Hooda has a hightech solution that will address commuters’ problems in one shot: Pod taxis. And he is serious about it.
                As Gurgaon residents well know, the city roads are an optical illusion. The unbroken chain of craters and ditches that pass for roads have for long burned holes in the pockets and hearts of the residents.
                But, if Hooda has his way, you could bypass the troublesome roads altogether. “Pod taxis seem to be the best way to take public transport through all the built up areas,’’ Hooda told TOI in an exclusive interview. Clearly, the chief minister aims high.
                The CM believes that these batteryoperated, driverless vehicles that run on an elevated track, will begin to ply in the next few years and connect people point to point — what the government claims as “providing last mile connectivity”.
                Highly placed sources in the Haryana government said the project would be implemented in the public private partnership (PPP) mode, with a total investment of Rs 5,000 crore.
                The government is looking at introducing about 1,100 pod taxis initially. “We want the pod taxi facility to connect all commercial and residential complexes in the city. Taking public transport to that point is our aim,” said the chief minister. The proposed ticket rate is Rs 10. He added that the government had already completed the detailed project report.
                “I hope Gurgaon will be the first city in India to get such a facility. It will cover both new and old parts of the city,’’ Hooda said.
                Officials said the service would offer a solution to Gurgaon’s mobility problem. “You don’t need to depend on rickshaws or taxis to move within the city. This will also be a solution to commuting from Metro stations to the workplace or home,’’ they said. Millennium goal: Future’s in pod It might look like something out of a sci-fi film, but the Haryana govt believes pod taxis will solve its niggling public transport problems Dipak Kumar Dash | TNN
                No drivers, no rails, no emissions and no haggling over fares. The future of Gurgaon’s public transport is bubble shaped and it’s called a pod taxi.
                Designed to work on specialized roads reserved for them, the space age pods are unmanned. And, if Haryana government is to be believed, these lowenergy, no emission vehicles will become Gurgaon’s transport reality in near future. Chief minister Bhupinder Singh Hooda says these taxis will end Gurgaon's dependency on autos, taxis and cycle rickshaws.
                The ride could be smooth for the pod project. Sources close to the project said that it is commercially viable despite being a high capital intensive plan, considering the high demand of intra-city movement within Gurgaon.
                “We have the big challenge of linking Metro stations to offices. Pod taxis seem to be the best option,” said a senior official of Directorate of Town and Country Planning (DTCP).
                The taxis, once in place, will also connect to the private Metro plan. One of the major reasons for the government to pick the pod was the minimal requirement of land on surface to construct the elevated structures.
                “It will be completely elevated. We need only 100 sq yard land to build a station. The stations will also have multi-level parking,” said a senior transport department official.
                The battery operated pods need only 22 mw of electricity for recharging. For commuters, the biggest advantage would be in terms of saving time. These pods will take the shortest route between the boarding point and a particular destination.
                POD CAST
                Model | Build, operate & transfer
                Phase-I (New & Old Gurgaon) | 105 km, 143 stations
                Stretch | Ist: 31km IInd: 74km
                Pod density | 30 pods after every kilometre
                Land Needed for a station | 100 sq yard
                Facility at stations | Multi-level parking
                Status | Detailed project report completed
                Time needed | 18 months from the day of awarding of the project





                Comment

                • #28

                  #28

                  Re : Gurgaon Shining or Dying

                  So typical of gurgaon and its administration. Badi badi baatein.

                  When will the administration wake up and smell the coffee. There is more to a city than just swanky malls, golf courses and pod taxis now.
                  All the planners care about is architectural marvels and converting agri land into residential to make money.

                  Can they just get the basics right please

                  1. Roads. I didn't say better, because right now there is hardly any left in my daily commute to udyog vihar from sec 23. Its just a series of stones, water logging and pot holes.

                  2. The Law: Atleast a little better policing - not asking for a radical change. It doesn't help that in gurgaon, many localites/goons have zero respect for the law. Only tough policing will contain them because the goons are morally corrupt and they won't change.

                  3. Electricity: Well the first item anyone buys on shifting to gurgaon is an inverter. I don't think that will change in a hurry.

                  4. .... leave it. There is no end to it

                  Comment

                  • #29

                    #29

                    Re : Gurgaon Shining or Dying

                    Originally posted by Mikhail View Post
                    So typical of gurgaon and its administration. Badi badi baatein.

                    When will the administration wake up and smell the coffee. There is more to a city than just swanky malls, golf courses and pod taxis now.
                    All the planners care about is architectural marvels and converting agri land into residential to make money.

                    Can they just get the basics right please

                    1. Roads. I didn't say better, because right now there is hardly any left in my daily commute to udyog vihar from sec 23. Its just a series of stones, water logging and pot holes.

                    2. The Law: Atleast a little better policing - not asking for a radical change. It doesn't help that in gurgaon, many localites/goons have zero respect for the law. Only tough policing will contain them because the goons are morally corrupt and they won't change.

                    3. Electricity: Well the first item anyone buys on shifting to gurgaon is an inverter. I don't think that will change in a hurry.

                    4. .... leave it. There is no end to it
                    Residents groups storm civic chief's office over poor infrastructure

                    Joel Joseph, TNN, Sep 14, 2010, 04.46am IST


                    GURGAON: Irked by the lack of basic infrastructure in the city, hundreds of residents from various parts of Gurgaon protested outside Municipal Commissioner Rajesh Khullars office on Monday.

                    The residents, mostly comprising women, broke tubelights and flowerpots outside the office, while protesting against the municipal commissioner.

                    The municipal commissioner is a dishonest, shameless, useless and inefficient man, said Col (retd) Ratan Singh, chairman, Joint Action Forum of Residents Association (JAFRA), an umbrella body of citizen groups, who led the protest.

                    He added: Even though it was a peaceful demonstration, the residents are so annoyed with the municipal commissioner that they would have beaten him up had I not stopped them, The police had a tough time pacifying the agitated mob. Barricades were installed outside to keep the protestors away from the office premises. While they succeeded in foiling the residents plans of locking Khullar inside his office, they could not stop them from forcing him out of his office to listen to their woes.

                    We are sick and tired of the administration. It is just not doing anything. The roads are full of ditches, the sewage water is seeping into houses and there is garbage strewn all over the place. They are only looting the people. There is no accountability of funds and nobody seems to have an idea of where the money is going, said Singh.

                    He added, The protestors have threatened to intensify their stir if the administration does not improve things within a month. We met divisional commissioner T K Sharma and gave him a memorandum of our demands. He has promised to call a meeting of all department heads this week. We will block all roads and go on a hunger strike if our demands are not met.

                    Asked about the protest, Khullar said he has taken note of the residents complaints. On the poor water supply to Rajendra Park, he said the civic body has been in existence for only two years, so water pipes are not in place. We are laying down water pipes. The work will be completed only by next summer. Till then, water will be supplied through tankers, said Khullar.










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                    • #30

                      #30

                      Re : Gurgaon Shining or Dying

                      A laudable effort of JAFRA . I think all should support the initiative , as the issue affects all residents of Gurgaon .




                      Originally posted by tinesha View Post
                      Residents groups storm civic chief's office over poor infrastructure

                      Joel Joseph, TNN, Sep 14, 2010, 04.46am IST


                      GURGAON: Irked by the lack of basic infrastructure in the city, hundreds of residents from various parts of Gurgaon protested outside Municipal Commissioner Rajesh Khullars office on Monday.

                      The residents, mostly comprising women, broke tubelights and flowerpots outside the office, while protesting against the municipal commissioner.

                      The municipal commissioner is a dishonest, shameless, useless and inefficient man, said Col (retd) Ratan Singh, chairman, Joint Action Forum of Residents Association (JAFRA), an umbrella body of citizen groups, who led the protest.

                      He added: Even though it was a peaceful demonstration, the residents are so annoyed with the municipal commissioner that they would have beaten him up had I not stopped them, The police had a tough time pacifying the agitated mob. Barricades were installed outside to keep the protestors away from the office premises. While they succeeded in foiling the residents plans of locking Khullar inside his office, they could not stop them from forcing him out of his office to listen to their woes.

                      We are sick and tired of the administration. It is just not doing anything. The roads are full of ditches, the sewage water is seeping into houses and there is garbage strewn all over the place. They are only looting the people. There is no accountability of funds and nobody seems to have an idea of where the money is going, said Singh.

                      He added, The protestors have threatened to intensify their stir if the administration does not improve things within a month. We met divisional commissioner T K Sharma and gave him a memorandum of our demands. He has promised to call a meeting of all department heads this week. We will block all roads and go on a hunger strike if our demands are not met.

                      Asked about the protest, Khullar said he has taken note of the residents complaints. On the poor water supply to Rajendra Park, he said the civic body has been in existence for only two years, so water pipes are not in place. We are laying down water pipes. The work will be completed only by next summer. Till then, water will be supplied through tankers, said Khullar.










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