Announcement

Collapse
No announcement yet.

Dwarka disputed CGHS have been cleared, will it affect real estate projects in GGN?

Collapse
X
Collapse

Dwarka disputed CGHS have been cleared, will it affect real estate projects in GGN?

Last updated: May 28 2011
31 | Posts
6542 | Views
  • Time
  • Show
Clear All
new posts

  • Dwarka disputed CGHS have been cleared, will it affect real estate projects in GGN?

    64 out of 68 disputed Dwarka CGHS have been cleared making way for about 5000 flats to be made available, which are in ready to move in condition.

    Though the process of allotment will take its due time, it seems the allotment and possession will be done in not more than 6-8 months time progressively.... Will it leave some impact on real estate prices overall? The supply will be suddenly in plenty in Dwarka! The construction quality of CGHS that have been cleared now is also superior than those allotted in early 2000s.

    This may affect entire NCR, particularly from mid segment end users, who will have a good choice for ready to move in flats, and that too in Delhi, where basic infrastructure is far better than neighborhood.
  • #2

    #2

    Re : Dwarka disputed CGHS have been cleared, will it affect real estate projects in GGN?

    Looks like no one feels that it will affect Gurgaon real estate market, whereas I have my colleagues who are looking for buyers desperately to sell their under construction flats both on Sohna Road and Dwk Exway...

    Comment

    • #3

      #3

      Re : Dwarka disputed CGHS have been cleared, will it affect real estate projects in GGN?

      why "desperate sale" mkg007... is it due to bad choices or do they believe that the market has peaked.. and which projects?


      Originally posted by mkg007 View Post
      Looks like no one feels that it will affect Gurgaon real estate market, whereas I have my colleagues who are looking for buyers desperately to sell their under construction flats both on Sohna Road and Dwk Exway...

      Comment

      • #4

        #4

        Re : Dwarka disputed CGHS have been cleared, will it affect real estate projects in GGN?

        Originally posted by AmitMM View Post
        why "desperate sale" mkg007... is it due to bad choices or do they believe that the market has peaked.. and which projects?
        AmitMM... These three colleagues of mine have been looking for decent accommodation in Dwarka, but were unable to find one to their satisfaction, due to age of the construction and probably inferior facade as compared to newly constructed private condominiums in Gurgaon and Noida. However, the CGHS which were stuck for allotment are far superior than the old ones, as they were built almost at the same time when Gurgaon buildings were coming up. The CGHS in Dwarka didin't catch attention of buyers and investors in early 2000s due to two reasons.... one the connectivity was a big issue till Palam flyover and Sector 22 underpass became operational around year 2005... secondly due to lack of aggressive marketing, in fact no marketing at all as compared to private builders of Gurgaon or Noida.

        These CGHS were actually hijacked by private builders of small to medium repute and the buildings were built almost in line with private buildings in GGN, however got stuck since the scam of buildings being hijacked was unearthed.(it will take a long description to explain what happened and how.. please excuse me on this). Now after almost five years, these CGHS have been cleared by Delhi Cabinet, and will be ready for possession in coming months one by one.

        As far as these colleagues' projects are concerned, one has in Mahindra Aura, one in Raheja Atharva, and the third is CP-2 on Sohna Road. These colleagues of mine are getting deals in DWK at approximately 6500-7000 psf in decent CGHS, which are ready to move in, and that's why are looking for buyers for their projects. BTW, they are all end users and are not willing to hold multiple properties due to their budget constraints...

        Comment

        • #5

          #5

          Re : Dwarka disputed CGHS have been cleared, will it affect real estate projects in GGN?

          Thanks for the clarity

          For an end user it makes sense to exit and take ready to move prop
          if dwarika is their prefered location and work place is nearby..
          other than that at 6000-7000 price they can have comparable options like Escape/close or even Vipul green/parkiew city which are around 6000 mark...


          Originally posted by mkg007 View Post
          AmitMM... These three colleagues of mine have been looking for decent accommodation in Dwarka, but were unable to find one to their satisfaction, due to age of the construction and probably inferior facade as compared to newly constructed private condominiums in Gurgaon and Noida. However, the CGHS which were stuck for allotment are far superior than the old ones, as they were built almost at the same time when Gurgaon buildings were coming up. The CGHS in Dwarka didin't catch attention of buyers and investors in early 2000s due to two reasons.... one the connectivity was a big issue till Palam flyover and Sector 22 underpass became operational around year 2005... secondly due to lack of aggressive marketing, in fact no marketing at all as compared to private builders of Gurgaon or Noida.

          These CGHS were actually hijacked by private builders of small to medium repute and the buildings were built almost in line with private buildings in GGN, however got stuck since the scam of buildings being hijacked was unearthed.(it will take a long description to explain what happened and how.. please excuse me on this). Now after almost five years, these CGHS have been cleared by Delhi Cabinet, and will be ready for possession in coming months one by one.

          As far as these colleagues' projects are concerned, one has in Mahindra Aura, one in Raheja Atharva, and the third is CP-2 on Sohna Road. These colleagues of mine are getting deals in DWK at approximately 6500-7000 psf in decent CGHS, which are ready to move in, and that's why are looking for buyers for their projects. BTW, they are all end users and are not willing to hold multiple properties due to their budget constraints...

          Comment

          • #6

            #6

            Re : Dwarka disputed CGHS have been cleared, will it affect real estate projects in GGN?

            Originally posted by AmitMM View Post
            Thanks for the clarity

            For an end user it makes sense to exit and take ready to move prop
            if dwarika is their prefered location and work place is nearby..
            other than that at 6000-7000 price they can have comparable options like Escape/close or even Vipul green/parkiew city which are around 6000 mark...

            Workplace is IGI Airport, and hence DWK is preferred location, apart from Delhi tag, infrastructure, water/power issues, transportation, connectivity to airport etc. etc....

            Comment

            • #7

              #7

              Re : Dwarka disputed CGHS have been cleared, will it affect real estate projects in GGN?

              all valid points!!!!

              Originally posted by mkg007 View Post
              Workplace is IGI Airport, and hence DWK is preferred location, apart from Delhi tag, infrastructure, water/power issues, transportation, connectivity to airport etc. etc....

              Comment

              • #8

                #8

                Re : Dwarka disputed CGHS have been cleared, will it affect real estate projects in GGN?

                The reason for posting this thread was keeping all this in view. Dwarka has a lot of tenants who have been waiting for this CGHS trouble to get over... A lot of them are waiting for their own flats to be available, and a lot for new allotments to have them in resale. Therefore, I feel real estate sale and resale will have some impact, particularly from mid segment end users, whose work place is in Delhi or even Gurgaon, but can't afford Delhi prices. Almost entire DWK Exway and Sohna Road projects are so far catered for this segment...

                Comment

                • #9

                  #9

                  Re : Dwarka disputed CGHS have been cleared, will it affect real estate projects in GGN?

                  I have seen society flats in Dwarka..size and layout is bad...small rooms not enough provision for sunlight and natural air...apart from this, issue can be of availability and quality of water...it is salted. All metallic sanitary items get rusted in 4-5 years....I know some of my friends are repenting ....and planning to sell and go to big, airy and well planned apartment....Age of apartment is also their concern....

                  Comment

                  • #10

                    #10

                    Re : Dwarka disputed CGHS have been cleared, will it affect real estate projects in GGN?

                    The most affected would be the D e way projects . Quite clear .

                    One can ignore the facts on this & concote 100's of stories to deny this .

                    Originally posted by mkg007 View Post
                    64 out of 68 disputed Dwarka CGHS have been cleared making way for about 5000 flats to be made available, which are in ready to move in condition.

                    Though the process of allotment will take its due time, it seems the allotment and possession will be done in not more than 6-8 months time progressively.... Will it leave some impact on real estate prices overall? The supply will be suddenly in plenty in Dwarka! The construction quality of CGHS that have been cleared now is also superior than those allotted in early 2000s.

                    This may affect entire NCR, particularly from mid segment end users, who will have a good choice for ready to move in flats, and that too in Delhi, where basic infrastructure is far better than neighborhood.
                    Please read IREF rules | FAQ's

                    Comment

                    Have any questions or thoughts about this?
                    Working...
                    X