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NPR - Northern Peripheral Road, Dwarka Expressway, Gurgaon Updates

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  • Re : NPR - Northern Peripheral Road, Dwarka Expressway, Gurgaon Updates

    Originally posted by ultichakri View Post
    There are numerous example where project remain in hurdle for small portion of land for decades or ultimately scrapped, few examples:

    700 cr. FNG expressway after completion of 50% stuck in litigation for 2 decades due to alignment is through dense populated area and ultimately scrapped.

    National level Tehri Dam project was remain in litigation for 35 years.

    Sikandarpur market, Gurgaon is in litigation for small portion of area since last 30 years.

    Number of examples are there, hence till the litigation not clear and resolution not taken place I wouldn't be optimistic at all. The applicants those are applying belongs to already settled matter and taken compensation long back and being applying now for plots only.
    None of those markets had stakes of Tata's/Birla's and Godrej- Leave aside the rest of the builders. Just to underpin the importance of DEW- leave aside the traffic of Gurgaon. Have peace of mind, and take rest.

    Comment


    • Re : NPR - Northern Peripheral Road, Dwarka Expressway, Gurgaon Updates

      You are here: ET Home›Markets›Real Estate›News
      Aditya Birla Realty Fund invests Rs 125 crore in Tata Housing’s Gurgaon project
      By Ravi Teja Sharma, ET Bureau | 8 Nov, 2013, 04.00AM IST
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      The structured transaction is expected to give Aditya Birla Real Estate Fund an internal rate of return (IRR) of 22-24% over the next four years.
      NEW DELHI: The real estate fund of Aditya Birla Group has invested Rs 125 crore in a residential housing project being developed jointly by Tata Housing and Sidhartha group on the Dwarka Expressway in Gurgaon, two people familiar with the development said.

      The structured transaction is expected to give Aditya Birla Real Estate Fund an internal rate of return (IRR) of 22-24% over the next four years.

      CSN Estates, a company owned by Sidhartha group, has pledged the 49% stake it holds in the joint venture with Tata Housing for the Gurgaon Gateway project to Aditya Birla Real Estate Fund, these people said.

      The deal is structured in a way that if Sidhartha group is unable to give the fund the promised returns, the group's stake will get transferred to the fund, one of these people said.

      Spokesmen for Aditya Birla Real Estate Fund and Tata Housing refused comment on the deal. Cushman & Wakefield, which was the advisor to the transaction, also declined comment. But Dharampal Dudeja, director ( finance) at Sidhartha group, confirmed the transaction.

      Last year, Tata Housing and Sidhartha group had signed a 51:49 joint venture to build a project on 20.8 acres. The land parcel is the first on Dwarka Expressway when one enters from Delhi and is very close to the international airport.

      The land was originally owned by the local Gurgaon developer. "The two joint venture partners hope to earn revenues of around Rs 1,200 crore over the lifecycle of the project, which means Aditya Birla Real Estate Fund gets a cover of over Rs 500 crore on its investment of Rs 125 crore," one of the people quoted earlier said. Tata Housing has already sold about 20% of the project in the first phase.

      Aditya Birla Real Estate Fund had recently invested Rs 75 crore in developer V Raheja's residential project in Mumbai's Andheri (West) area.

      In another transaction on Dwarka Expressway, ASK Property Investment Advisors had invested around Rs 150 crore in a residential project being developed by ATS Infrastructure.

      While Aditya Birla Real Estate Fund might have taken a bet on this project because of the Tata Housing brand, the residential real estate market has seen home sales slowing down over the last one year.

      The slowdown has been seen across most markets, including Gurgaon. With the economic slowdown and an uncertain job scene, buyers are shying away from the market.

      According to property research firm Liases Foras, close to 670 million square feet of residential space is lying unsold across the country, forcing builders to dole out discounts, as was evident during the festive season.

      The National Housing Bank's residential housing index, Residex, shows that 22 of the 26 cities it tracks have already seen a decline in home prices in the quarter to June and prices are expected to fall further.

      Some correction in prices is already happening by way of freebies and promotions by developers.

      The secondary market, too, has suffered as investors who had invested in projects in Gurgaon and other parts of the country are finding it difficult to get buyers, even after offering deep discounts of up to 25%.


      Does this ring your bells???

      Things are moving very fast! There are definitely road blocks but see, what is going to happen soon!!

      Comment


      • Re : NPR - Northern Peripheral Road, Dwarka Expressway, Gurgaon Updates

        Originally posted by Bauji View Post
        None of those markets had stakes of Tata's/Birla's and Godrej- Leave aside the rest of the builders. Just to underpin the importance of DEW- leave aside the traffic of Gurgaon. Have peace of mind, and take rest.
        Agreed,

        In the last 3-5 years a number of things have happened which have not happened in the last 30 years. So history is no longer a credible benchmark for reforms or social momemtum. RTI, Social media, media activism etc. are things that were not there in the last 25 years. more than anything India's percieved lucrativeness for international investors hinges upon our demosntration to reforms, creating infrastucture etc. I dont believe that becuase things didnt happen in the last 30 years, it will not happen in the next 30.

        Afterall, India had not launched a Mars mission in 100 years, but they have now done it within a record timeline of 3 years. If we can get to mars why cant we get an NPR ?

        While we all have a right to our own opinion, as a community, it doesnt hurt to be caustiously optimistic. just my opinion and I bet a large group would have a totally contrary view.

        Comment


        • Re : NPR - Northern Peripheral Road, Dwarka Expressway, Gurgaon Updates

          Well explained Bala ji. Do agree with statement.
          Originally posted by Bala2107 View Post
          Agreed,

          In the last 3-5 years a number of things have happened which have not happened in the last 30 years. So history is no longer a credible benchmark for reforms or social momemtum. RTI, Social media, media activism etc. are things that were not there in the last 25 years. more than anything India's percieved lucrativeness for international investors hinges upon our demosntration to reforms, creating infrastucture etc. I dont believe that becuase things didnt happen in the last 30 years, it will not happen in the next 30.

          Afterall, India had not launched a Mars mission in 100 years, but they have now done it within a record timeline of 3 years. If we can get to mars why cant we get an NPR ?

          While we all have a right to our own opinion, as a community, it doesnt hurt to be caustiously optimistic. just my opinion and I bet a large group would have a totally contrary view.

          Comment


          • Re : NPR - Northern Peripheral Road, Dwarka Expressway, Gurgaon Updates

            चीफ ऐडमिनिस्ट्रेटर आज लेंगे विकास कार्यों का जायजा

            Nov 9, 2013, 08.00AM IST


            0



            एनबीटी न्यूज ॥ गुड़गांव
            हूडा के चीफ ऐडमिनिस्ट्रेटर अपूर्व कुमार सिंह शनिवार को गुड़गांव में चल रहे विकास कार्यों का जायजा लेंगे। चीफ ऐडमिनिस्ट्रेटर शुक्रवार रात ही गुड़गांव पहुंच जाएंगे। रात को वे हूडा रेस्ट हाउस में ठहरेंगे और शनिवार को अधिकारियों की मीटिंग के साथ ही कई प्रोजेक्टों की विजिट भी करेंगे। इसके बाद सभी अधिकारियों के साथ एक मीटिंग भी की जाएगी। मीटिंग के लिए सभी संबंधित अधिकारियों को अपने-अपने एरिया में विकास कार्यों की स्टेटस रिपोर्ट लेकर आने को कहा गया है। जिसके चलते शुक्रवार को विभाग के अधिकतर अधिकारी और कर्मचारी मीटिंग की तैयारियों में जुटे रहे। सभी अपने-अपने एरिया के प्रोजैक्टों की स्टेटस रिपोर्ट तैयार करते दिखे।
            दरअसल, अक्टूबर माह के अंतिम सप्ताह में चीफ ऐडमिनिस्ट्रेटर (सीए) की गुड़गांव विजिट तय थी। लेकिन किन्हीं कारणों के चलते यह विजिट कैंसल हो गई थी, जिसके बाद चंडीगढ़ में ही सीए ने अधिकारियों की मीटिंग ली थी। कैंसल हुई उस विजिट के दौरान सीए को गुड़गांव में चल रहे प्रोजेक्टों का जायजा लेना था, जो नहीं हो सका था।
            भ्रष्ट कर्मचारियों पर भी लिया जा सकता है फैसला
            चीफ ऐडमिनिस्ट्रेटर ऑफिस की शिकायत पर हूडा के करीब आधा दर्जन कर्मचारियों व अधिकारियों के खिलाफ एफआईआर दर्ज हुई है। यह एफआईआर रेवाड़ी में दर्ज कराई गई है। इन सभी कर्मचारियों व अधिकारियों पर आरोप है कि इन्होंने फर्जी तरीके से धोखाधड़ी कर विभाग को लाखों रुपये का चूना लगाया है। विभाग के आधिकारिक सूत्रों की मानें तो आरोपी कर्मचारियों के खिलाफ एफआईआर तो दर्ज की जा चुकी है, लेकिन ये अभी भी विभाग में ही कार्यरत हैं। सूत्रों की मानें तो शनिवार को चीफ ऐडमिनिस्ट्रेटर अपनी मीटिंग के दौरान इन दागी कर्मचारियों पर भी कोई बड़ा फैसला ले सकते हैं।

            Comment


            • Re : NPR - Northern Peripheral Road, Dwarka Expressway, Gurgaon Updates

              Price jump along Dwarka Expressway

              Housing prices have jumped nearly three-fold on Dwarka Expressway in Gurgaon during the past five years to ~7,000 per sq ft but the slow pace of constuction of highway and litigation issues have become a major hurdle for growth of this corridor, property consultant DTZ has said.

              Property consultant DTZ in its report ‘Investment Hotspots in Delhi NCR’ said that average residential capital value on Dwarka Expressway has risen from ~2,426 per sq ft in 2009 to ~7,000 in 2013.

              The 18-km-long Dwarka Expressway, also known as Northern Peripheral Road, is a eight-lane expressway linking Dwarka-Gurgaon. It is being developed by Indiabulls group under public private partnership (PPP).

              DTZ said that Dwarka Expressway is one of the latest hotspots for real estate opportunities for home seekers and potential investors. Proximity to the national capital and IGI airport gives Dwarka Expressway an edge over other upcoming real estate destinations such as Dharuhera, Bhiwadi, Yamuna Expressway and Noida-Greater Noida Expressway.

              However, the consultant said that “the snail’s pace at which the construction of the expressway is progressing along with litigation issues with respect to land acquisition on a 4 km stretch of the expressway are proving to be major hurdles in the growth of the corridor”.

              Prominent developers like BPTP, Puri Construction, Raheja, Mahindra Lifespace, Sobha Developers, Ansal Housing, Assotech, Paras and Ramprastha have launched more than 50 projects on Dwarka Expressway and are at various stages of construction. These projects range from mid end to premium segment.

              “Between 2009 and 2013, the location has witnessed the second highest number of project launches, after new sectors in Gurgaon (in terms of number of units). Approximately 18,000 residential units have been launched in the last five years across 44 projects ranging from mid to premium category,” it said.

              Dwarka Expressway is expected to receive second highest number of housing units (about 24,160) between 2013 and 2018.

              With approval of Land Pooling policy by Delhi Development Authority (DDA), which has unlocked substantial land for both housing and commercial use in Delhi, the consultant said real estate growth on Dwarka Expressway is expected to take a hit.

              “Adding on to the growth inhibitors is the slow pace of construction of the expressway and the litigation issues. In order to realise the envisaged potential of this corridor, it is essential for government to expedite the infrastructural development which currently is at a nascent stage,” DTZ said. — PTI
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              • Re : NPR - Northern Peripheral Road, Dwarka Expressway, Gurgaon Updates

                I am not sure why will groups like Tata, Birla, Godrej and Mahindra will invest on D way if they know that its gonna be 10 years+ to see D Way.

                Wont they have more details then people on this forum?

                Comment


                • Re : NPR - Northern Peripheral Road, Dwarka Expressway, Gurgaon Updates

                  Count on Tata and Bidla is ok upto certain extent, they might not be aware about the real mess. Afterall they are also getting info from same nexus of ploticians, small and big Bauji s of govt departments.

                  No doubt the lobby from where they watching this pitty game is strong enough to fix it in a reasonably ok situation.

                  Regards,

                  Comment


                  • Re : NPR - Northern Peripheral Road, Dwarka Expressway, Gurgaon Updates

                    Look at the other side of the argument.

                    Presence of Tata, Birla, Godrej and Mahindra have not been of any help all these years. We are already looking at a massive delay and no resolution in sight.

                    I am sure these guys would not have thought of 10+ years but that's the power of our democracy where a handful of illegal occupants are holding the entire belt (infact Gurgaon as a whole) to ransom. Shame!!


                    Originally posted by amit001 View Post
                    I am not sure why will groups like Tata, Birla, Godrej and Mahindra will invest on D way if they know that its gonna be 10 years+ to see D Way.

                    Wont they have more details then people on this forum?

                    Comment


                    • Re : NPR - Northern Peripheral Road, Dwarka Expressway, Gurgaon Updates

                      In DEWay shops are available at price lesser then Residential.

                      So future return seems to be very bright for Shops.

                      Comment

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