FOREWORD - property.magicbricks.comproperty.magicbricks.com/microsite/buy/magicbricks...commercial space, Supertech Ltd has a major presence in cities such as Noida, Gurgaon, Ghaziabad

Its been a topsy-turvy ride for the real estate sector in 2013.

Towards the end of 2013, some policy initiatives were taken by thegovernment to lift the mood of the market. The Reserve Bank of Indiamade a bold move to keep the key rates unchanged. Earlier in the year,the new Land Acquisition Act and the proposed Real Estate RegulatoryBill became two major government initiatives that made the industryrealise that it was finally on policy radars. Industry feels that these twoBills would go a long way in making the sector more efficient,transparent and responsible.

Going into 2014, developers are hoping for better tidings and a reversalof the economic slowdown. All eyes are set on the general elections, tobe held in the middle of the year, with a feeling that this event wouldbring positive energy into the market and property sales would pick uppost elections.

The real estate market is clearly searching for direction. With a viewto bring some clarity on this and to shed insight on the year that was,Magicbricks brings to you “Opinions’ – a collection of views, from theeyes of the industry, across the top eight cities – Delhi NCR, Mumbai,Bangalore, Pune, Hyderabad, Chennai, Kolkata and Ahmedabad.

Through its various publications Magicbricks has been providinginsights into real estate market performance and trends. Where theHousing Sentiment Index (HSI) report gauges the buyers’ mood,PropIndex provides statistical data pertaining to residential propertymarkets of eleven cities. All of these reports, read alongside with‘Opinions’, should offer a ringside view of market trends to our users.Go ahead and read to know what the industry’s experts tell you aboutthe real estate market in 2014.

Wishing a happy and successful New Year to our readers!

FOREWORD

Sudhir Pai Business Head, [email protected]

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RK AroraChairman & MDSupertech Ltd

DELHI/NCR

Having delivered more than 33 million sq ft of residential andcommercial space, Supertech Ltd has amajor presence in cities such as Noida,Gurgaon, Ghaziabad and Bangalore. RK Arora, chairman & managingdirector, Supertech Ltd says that owing toinfrastructure upgrades announced by theUP government, Noida realty market willcontinue to grow in 2014. Excerpts from the interview:

‘Infrastructure upgrades to activateNoida market’ What are your expectations from Noida'sreal estate market in the year 2014?

Noida has experienced a period ofunprecedented growth over the last fewyears, which is expected to continue infuture also. It has emerged as a well-developed micro market having substantialoffice and retail space, with deepeningcommercial activity in various sectors.

Rapid commercial development has led toa spillover of housing growth in andaround the region. Also, benefitting frommetro extension, expressways, widerhighways and release of land parcels,Noida promises to be a great residentialdestination in this year.

Which areas are expected to seemaximum real estate development in2014? Why?

There has been a lot of developmentacross various sectors in Noida,witnessing healthy absorption trends.Yamuna Expressway is becoming a realestate hub. The projects in the area havereceived an overwhelming response andthe fact that land prices are still low ascompared to Noida and Greater Noidamakes it a perfect location for investment.

Greater Noida West will also be in thelimelight for progressive growth ofresidential and commercial real estate.Great infrastructure, good road networkand metro connectivity are the primereasons that have enticed the buyers andinvestors to this area.

What will be the impact of the upcominggeneral elections on the real estatesector in Noida?

Certainly, there will be a temporarysetback as the industry will face labourshortage, putting more stress on thedevelopers as well as buyers. After therecent elections in four states, the saleshave started improving.

We are hopeful that the same will repeat inthe forthcoming general elections also andonce a new government is formed, themarket is expected to improve significantly.

Which locations in the city witnessedmaximum launches in year 2013? Why?

Owing to the presence of abundant landparcels and competitive affordability,project launches were concentrated inGreater Noida West and YamunaExpressway in comparison to prime


locations of Noida where land is not onlyscarce and but costly as well.

Any infrastructural development that hada positive impact on the real estatesector in the city in 2013?

Many infrastructural developments tookplace during the year but the biggestdevelopment was the announcement of 12 projects worth Rs 3,337 crore by theUttar Pradesh Government to developinfrastructure across the state. The projectsencompass Noida, Greater Noida and theYamuna Expressway. Also, the proposal ofa new metro rail network between Noidaand Greater Noida will further boost therealty market in the area.

Did you launch or give possesion of anyprojects in 2013?

We launched residential projects Aravilleand 48 Canvas in Gurgaon, Albaria andKing Towers in Greater Noida (West), GolfVillage, Disney Inspired Fable Castle in

Yamuna Expressway and River Crest inSIDCUL Rudrapur.

Apart from this, we gave possession inSupertech Livingston - Ghaziabad, 34 Pavilion – Noida, Palm Greens/MeerutSports City - Meerut and Czar Suites –Greater Noida.

What includes your wish list for the realestate sector in 2014?

The Government agencies should settle theissue of farmers in Noida to ensuresmooth implementation of real estateprojects in the area.

Also, the real estate sector should be giventhe status of ‘infrastructure’ by the CentralGovernment to avail funds from authorisedsources. In addition, clarity on policiesconcerning Special Economic Zones(SEZs), land acquisitions and certain taxesand single window clearance are alsoimportant to fasten the approval processfor upcoming projects.

Yamuna Expressway and Greater Noida West are twoareas in Delhi NCR that offer high potential for real

estate development in the year 2014.

POLICY PERSPECTIVE

Mixed-land use policy a boon for developers,residents in NoidaIn the last week of December 2013, Noida Authority approved mixed land-use policyin the Noida Master Plan-2021, paving the way for construction of offices, retailshops, eateries and entertainment outlets in specific areas in industrial andinstitutional sectors. This policy will benefit MNCs, BPOs, IT and ITeS firms and othercorporate houses, enabling them to accommodate their employees temporarily.

With this policy, the government will allow residential facilities in commercial andinstitutional areas, to facilitate optimum utilisation of land and also to contain therequirement of transport facilities to places of work. The mixed land use policy isalso expected to affect the residents of the area. Those residents having plots orbuilt-up houses beside roads of approximately 24 metres and above in theresidential areas will be allowed to construct guesthouses on a limited area. Source: The Times of India


DELHI/NCR

‘Regulatory Bill and REITsstrengthen real estate sentiments’Real estate is one sector that is completelydriven by market sentiments. In the last 6-7 months, demand in the market hasrevived. Industry also saw some newlaunches. Government agencies andauthorities also came out with somefavorable steps such as the Regulatory Billand REITs, which has further strengthenedsentiments across the board.

Going forward, the trend is expected tocontinue for another 4-5 months. However,it will be interesting to see how the realestate market reacts post the general

elections. Though, I am confident that withthe reforms proposed by the UnionGovernment over FDI and Retail, the realestate sector is going to witness fairlytransparent and shiny days in the year2014. This can be seen with many newlaunches in affordable and mid premiumsegments in areas, such as Greater Noida,Sohna Road, New Faridabad, Manesar andDharuhera. Commercial space will alsowitness a boom with the expansion of theDelhi Metro in NCR. Overall, the market isexpected to see an uptrend in terms ofdemand and supply.

Pradeep JainchairmanParsvnath Developers Ltd


P Sahelvice chairmanLotus Greens

DELHI/NCR

Lotus Greens, one of the emergingdevelopers in Delhi, set foot in the realestate market in 2013 with over 500 acreof prime land bank. P Sahel, vicechairman of the group says that in theyear 2014, Delhi will continue to be thelargest real estate market in India withalmost 40 per cent share in newresidential launches. Excerpts from the interview:

‘Delhi will continue as the largestreal estate market in India in 2014’ What are your expectations from Delhi’sreal estate market in 2014?

Delhi NCR real estate market is expected tosee more traction in this year. The overalleconomic scenario in the country isexpected to improve in 2014. As per anAsian Development Bank (ADB) report, thecountry’s GDP is expected to increase to5.7 per cent from the present 4.7 per cent.The interest rates are also expected tocome down in 2014, which in turn willspur real estate demand. Delhi NCR willcontinue to be the largest real estatemarket in India with almost 40 per centshare in new residential launches.


While there will be increased activityacross Noida and Gurgaon, few micromarkets such as Yamuna Expressway andNew Gurgaon are expected to seeheightened activity due to several newproject launches.

Did you launch any new projects in2013? If yes, where? Why did youchoose these locations?

We will be launching our first project inJanuary 2014 in Sector 89, Gurgaon. We selected the location because of thegrowth potential. It is well connected withNH-8 by a 75 metre road and will also beconnected to a 135 metre multi-utilitycorridor. Also, Dwarka Expressway is justfive minutes away from the project.

What was the volume of sales and stockin the year 2013 vis-à-vis the last year?

Delhi NCR, on an average, sees newconstruction of 100,000 residential unitsper annum, out of which approximately 60 per cent are in Noida. As per a recentreport by International Property Consultants(IPC), in terms of unsold inventory, DelhiNCR fares much better than other cities,such as Mumbai, which are reeling underthe pressure of huge unsold inventory of48 months.

There is an unsold inventory of only 15 months in Gurgaon and approximately21 months in Noida and Greater Noida.

What will be the impact of the upcominggeneral elections on the real estatesector in Delhi?

Though upcoming elections and formation


of a stable government may have a shortterm impact on investor sentiments. Overthe long term the market will continue tobe driven by demand and supply.

Any infrastructural development that hada positive impact on the real estatesector in the city?

Rapid metro in Gurgaon is operational andis benefiting regular office commuters.Further, extension of the Metro in Noidaand Gurgaon is expected to improve the

situation of public transportation, which inturn will fuel real estate growth.

What are the five things you wish tohappen in the real estate sector in 2014?

Our wishlist for the year will include -simplification of the project approvalprocesses, higher Floor Area Ratio to easecost pressure for both developers and endusers, push to sustainable construction,relaxation in real estate FDI regulations andeasier real estate funding.

With inflation in control, the interest rates are expected to come down in 2014 which will give impetus

to the real estate sector. Simplification of approvalprocesses, push to sustainable development and

relaxation in real estate FDI norms will also help the sector to grow.

‘Ghaziabad needs affordablehousing in future’Ghaziabad is facing a shortage of approximately twolakh housing units in the below Rs 10 lakh category.Ghaziabad Development Authority understands thatproviding a home below Rs 10 lakh is difficult for thedevelopers. Thus, we are planning an affordable policyscheme for the developers, wherein we will offerconcessions, such as free registration, direct buyingfrom farmers, no land conversion charges, no externaldevelopment charges etc. Apart from this, there are afew plots left in Madhuban Bapudham scheme, nearGovindpuram. This scheme may be advertised in thenear future. However, there is no new plotteddevelopment coming up soon.

GDA is planning several infrastructure developmentprojects in the area. We will build the Northern

Peripheral Road (NPR) that will cater to the heavy traffic originating from Delhi andgoing towards Meerut, Kanpur and Lucknow. It is planned for free flow of traffic onthe northern side of the city. Another infrastructure project that is planned is theEastern Peripheral Expressway, which will form a third ring road around Delhi, alongwith the Western Peripheral Expressway, to decongest both Delhi and Ghaziabad.

Santosh Kumar Yadavchairman, Ghaziabad DevelopmentAuthority


DELHI/NCR

‘We expect investors to re-enter therealty market in 2014’In the first half of the year 2013,absorption was weak as the buyers andinvestors were low on confidence andadopted a wait-and-watch approach.However, the middle income segment wassupported by real demand which wasunderwriting by India’s long term growthstory, which is a young and growingpopulation, urbanisation, growth inearnings and easier availability ofmortgage finance. This presented anexcellent buying opportunity as peoplerealised that the cost of housing mustincrease over time as the components -land and construction cost - are notgetting any cheaper. In the second half,

confidence returned and the active politicaldebate around the state elections gavehope for better governance and return tohigh growth rates. Absorption is nowpicking up and we expect this trend toaccelerate in 2014. SARE Homes willcontinue to serve the aspiring middleincome segment and deliver its product ontime. We plan to launch new projects,namely – Club Terraces in Gurgaon,Shreyas Villas in Chennai GST andSpringview Heights II in Ghaziabad. Wehave a pan-India presence withapproximately 38.3 million sq ft ofdevelopable area and have sold over5,500 homes.

David Walker,executive director,SARE Homes


Pramod Agarwalexecutive directorMicrotekInfrastructure

DELHI/NCR

Microtek Infrastructure entered the realestate sector with their maiden project‘Microtek Greenburg’ in 2013, with thepledge of providing ‘on-time delivery’.Pramod Agarwal, executive director,Microtek Infrastructure says that NewGurgaon, sectors near DwarkaExpressway and Golf Course ExtensionRoad will drive the realty market inGurgaon in 2014. Here are some excerptsfrom the interview:

‘Upcoming infrastructure to driveGurgaon’s real estate market’What are your expectations fromGurgaon’s real estate market in 2014?

The realty market of Gurgaon is expectedto get a major boost with the upcomingDwarka Expressway that connects Dwarkaand Gurgaon and will be operationalsometime in 2014.

Second, the affordable housing policy ofthe Haryana government is likely to beimplemented. It will be a forward movetowards inclusive growth as commercialand luxury segments significantlydominate Gurgaon’s property market.

We also expect both the state and centralgovernments to move further on the Delhi-Gurgaon-Rewari-Alwar Regional RapidTransport System (RRTS). These factorswill drive the realty market in 2014.


In 2014, New Gurgaon, sectors nearDwarka Expressway and Golf CourseExtension Road will drive the realty marketin the millennium city. A lot of realtydevelopment is planned, especially aroundthe Dwarka Expressway.

Did you launch any new projects in2013? If yes, where?

We launched an ultra-luxury project‘Microtek Greenburg’ towards the end ofyear 2013. We will deliver this within 39 months. This has a unique paymentplan which gives buyers the best returns inthe market. Due to swift connectivity, well-built infrastructure and peacefulenvironment, we selected Sector 86. Theproject is located at a 60 meter wideconnecting road to Dwarka Expressway.

What will be the impact of the upcominggeneral elections on the real estatesector in Gurgaon?

Largely, things are likely to be the same onthe national infrastructure projects. Nogovernment from any political party canafford to ignore the infrastructure projectsor put them in cold storage. It is just thepace of execution where the nextgovernment will have to focus.

Any infrastructural development that hada positive impact on the real estatesector in the city in the year 2013.

In 2013, the realty market of Gurgaonbenefitted from both the Rapid Metro and


Delhi Metro connectivity. The operationalfirst phase has benefitted areas fallingbetween Sikandarpur Metro station andCyber City and the second phase willboost the realty market of Sectors 55, 56and the Golf Course Road.

Any developments expected in 2014 inaccordance to the Master Plan 2031?

According to the Master Plan 2031, a lotof development work is planned forGurgaon. We see the government working

towards speeding up work on theinfrastructure projects.

What are the five things you wish tohappen in the real estate sector in 2014?

Recovery of economy, interest rates tocome down, a stable and preferably singleparty government at the centre, DwarkaExpressway to be operational with allbasic infrastructure and amenities in thearea. Also, we plan to launch the secondphase of the ‘Microtek Greenburg’.

Infrastructure upgrades planned in Gurgaon’s Master Plan 2031 - the upcoming Dwarka Expressway

and the Regional Rapid Transport System (RRTS)along with Haryana Government’s affordable housing

policy, are likely to positively impact Gurgaon’s realestate market in 2014.

‘2014 to bring hope for thesector after a dull year’ The year 2014 appears to be the year of hope after thedull and average year (2013) for the real estateindustry. We hope to get a stable government by themid of the year and inflation is also expected to easeby March 2014. Rate of Interest are at a peak and fromhere onwards the rates of interest are expected to fall.

A necessary breather was given by the Reserve Bank ofIndia (RBI) by keeping the rates unchanged. Bankssuch as SBI and HDFC, further reciprocated by reducingthe home loan rate of interest.

These factors will create positive sentiments and thegrowth story may start again. It is expected that policywill be clear on Real Estate Investment Trusts (REITs)and inflows may start in 2014.

This will ease liquidity pressure especially in thecommercial real estate sector. I expect the demand topick up and prices to firm up from Q2 of 2014.

Gaurav GuptadirectorSG Estates


DELHI/NCR

‘The real estate sector needsfavourable government policies’The real estate sector is very progressiveand is a major contributor to the Indianeconomy. Being the second largestemployer in India, the sector directly andindirectly engages a number of ancillaryindustries with it. So, the overall growth ofthe country’s economy is invariably relatedto the realty sector. The year 2013 startedfrom a positive note with interestinglaunches across India and the sector wasupbeat about the realty boom.

However, the industry soon started facingissues, such as farmer protests, economic

slowdown, fall of the rupee value,escalating property prices, slow progresson infrastructural development and a hostof other problems.

All these issues came at once and did theirbest to pull down all hopes of a realtyrevival in the country. Now, that we haveentered the new year, the sector apears tobe encouraging yet skeptical.

We expect some favorable and unbiasedpolicies from the government so that wecan bring affordable housing for homebuyers with tight budgets.

Sanjay RastogidirectorSaviour Builders Pvt Ltd


Harindra Nagarmanaging directorParas Buildtech

DELHI/NCR

Having an experience of over a decade inthe construction industry, ParasBuildtech has made a name for itself inresidential, retail and commercial realestate markets. e group has projects atvarious stages in areas such as Gurgaon,Noida and Zirakpur and Mohali inPunjab. Harindar Nagar, managingdriector of the group, talks about themarket performance in 2013 andexpresses his anticipations for 2014.Excerpts from the interview:

‘Noida will be a prime propertylocation in 2014’What are your expectations from theNoida real estate market in 2014?

Noida and Greater Noida will continue tobe prime property locations in the year2014. There are a number of infrastructureprojects lined up by the Uttar PradeshGovernment and the NCR Planning Board.

This also includes extension of Metro lines,which makes these locations favourablefor both end-users and investors.

Among the stretches, Noida Expresswaycontinues to be one of the finest roadprojects in the country, attracting largeinvestment for real estate development.

Which areas are expected to seemaximum development in 2014? Why?

Among specific areas in Noida, fewsectors on the Noida Expressway, such asSectors 137 and 168, Greater Noida West(formerly known as Noida Extension) andareas on the Yamuna Expressway, fallingunder the Greater Noida Authority, areexpected to see maximum real estatedevelopment and project deliveries in theyear 2014.

Where are your projects located and whydid you choose these locations?

Our project, Paras Tiera, is located inNoida Sector 137 and the other project,Paras Seasons, is located in Noida Sector 168. Both these projects arestrategically positioned with carefullydesigned layout. These projects have easyaccessibilty to Delhi, South Delhi, Noidaand Ghaziabad. We will give possessionvery soon.

Which locations in the city witnessedmaximum launches in year 2013? Why?

In the previous year Greater Noida West,Greater Noida and Yamuna Expresswaywitnessed the maximum number oflaunches as there was easy availability ofland parcels.

Moreover, the government has alsochalked out infrastructure developmentplans for these areas. To improve the basicinfrastructure along the Noida–YamunaExpressway, a 20 km road network hasbeen planned which will connect theseareas to other parts of the NCR.

What was the volume of sales and stockin the year 2013 vis-à-vis the past year?

2013 saw slow recovery of properties dueto the economic slowdown, high interest


rates and high inflation rates severelydenting the savings of people.

With the Reserve Bank of India keepingrepo rate unchanged, we are lookingforward to a more stable market in 2014.

What will be the impact of the upcominggeneral elections on the real estatesector in Noida?

There are two factors that impact the realestate market of any particular area in thecountry – local and national. Locally, sincethe state government will remain the samebefore and after the general elections, sotheir policies, in all likelihood, will remainthe same.

However, for the national factors, such asinterest rates, Real Estate Regulatory Bill,Land Acquisition Act etc, we expect someconcrete steps from the next electedcentral government. The outcome of thesesteps will determine the direction of thereal estate sector.

What are the developments expected inthe year 2014?

We expect the concerned authorities andgovernments to act swiftly on theimplementation of infrastructure projectssuch as Noida City Centre - Noida metroextension line and Greater Noida - Agrametro project.

New development plans, such as extension of Metrolines are expected to give a thrust to property values in

Noida in 2014. Areas such as Greater Noida West,Greater Noida and Yamuna Expressway are expected to

be the growth corridors.

‘Dwarka Expressway to seehigh realty growth in 2014’The year 2013 has not been a good year for the realestate industry. Owing to low market sentiments andhigh interest rates, the sector has witnessed aslowdown. Strict monetary regulations by the ReserveBank of India (RBI) due to high inflation and the newlanding norms for the real estate sector only madethings worse for the industry.

However, I do believe that things are going to look up in2014. The RBI's recent announcement that it is notlikely to hike interest rates, will prove to be a boost forhome buyers.

Also, several new projects are being announced in thehousing sector and areas like Dwarka Expressway islikely to witness a lot of infrastructure and real estatedevelopment. The year 2014 should be a good year forboth developers and home buyers.

Rohit Raj ModidirectorAshiana Homes Pvt. Ltd.


Anil KumarpresidentCREDAI NCR andCMDAmrapali Group

DELHI/NCR

Amrapali Group, having completedprojects over 100 acre of land, is about todeliver nearly 10 thousand dwelling unitsin the National Capital Region by March2014. e group, with its projects, hascreated a niche name for itself in themarket. Anil Kumar Sharma, chairman &managing director of the group and alsothe president of CREDAI NCR talksabout his expectations from the market in2014. Excerpts from the interview:

‘New NCR areas have opened upavenues of realty growth in 2014’What are your expectations from theDelhi NCR real estate market in 2014?

The real estate market of Delhi NCR willcontinue to drive the realty sector in India.The NCR Planning Board’s decision in2013 to include more areas in the NCRhas opened up avenues of growth.

Adding to it, Haryana government’saffordable housing policy, Uttar Pradeshgovernment pushing developmentactivities on Yamuna Expressway andGreater Noida and Delhi government’s landpooling policies have provided enoughopportunities for the sector to thrive in thenext decade. In 2014, we expect to see allthe infrastructural plans beingimplemented.

Which are the areas to look out for realestate buying or investment in 2014?

Greater Noida, Greater Noida West orDwarka Expressway attracted maximuminvestment in 2013 and witnessed anumber of project launches for theiraffordability, return potential and strategiclocation factors.

In 2014, we expect Greater Noida West,New Gurgaon, Dwarka Expressway,

Sohna Road, Sonipat and GreaterFaridabad to see maximum real estatedevelopment. Yamuna Expressway will beanother area to watch out for.

Where did you launch your projects in2013? Why did you choose theselocations?

We have launched a bunch of projects inGreater Noida West (earlier known asNoida Extension). Being largely an end-user-driven market, the real estate marketin Greater Noida West is growing steadilyand the property prices too have risenconsiderably in the last five years. Thefigures speak for the value of the area.

With the kind of infrastructure plannedincluding the metro link connecting it to theNoida City Centre, investors and end usersfrom each segment have started showinginterest in the area.

What will be the impact of the upcominggeneral elections on the real estatesector in Delhi NCR?

Post general elections, we expect themarket to return to its growth path becausethe next government will have the mandateto create jobs and bring the country back


to a handsome growth rate. Overall, it willusher a new phase of growth for the realestate sector in Delhi NCR.

What was the volume of sales and stockin the year 2013 vis-à-vis the last year?

Due to the overall economic environmentand high inflation costs, the growthprojections were hit and sales figures wentbelow expectations. Despite that, propertyprices in all the areas witnessed anaverage appreciation as compared to highappreciation in the previous year. For thisyear, the market is set to witness an

upward movement because of clarity ofissues and direction on the same factorswhich had previously affected the realestate market.

What do you wish for the market in2014?

If we were to prioritise, we wish to seesingle window clearance system becominga reality, lowering of interest rates, stableand single party government at the centre,REIT to become a reality and fast-pacedimplementation of infrastructure projects inDelhi NCR.

Delhi NCR’s market witnessed average priceappreciation in 2013. Next year’s General Elections are

expected to be the game turner for the city as therewould be more job opportunities, along with a healthier

economic scenario.

‘Ghaziabad awaits propertybuyers with small budgets’A recent report by a research firm says that more thanhalf of the income of an average household is spent onmonthly EMIs of home loans. This is quite a substantialamount to invest on one singular. Affordable housing isthe need of the hour.

What can be a better place to reside in Delhi NCR thanGhaziabad. Known as the Gateway of Uttar Pradesh,Ghaziabad has seen fast growth in recent years andthis is just the beginning.

The affordable housing segment is ruling the roost here.As property rates are spiraling in Delhi, Noida and

Gurgaon, people are naturally drawn towards neighboring areas. In Ghaziabad, theycan get all the lifestyle facilities without burning a hole in their pocket. Moreover, theUP government is also planning infrastructural development for the region, leading tobetter connectivity to the adjoining areas. The proposed widening of the present 8-lane NH-24 to 14-lanes is expected to boost the property values in Ghaziabad. Allthese are encouraging trends that are set to drive growth in Ghaziabad. It is time forbuyers to turn to Ghaziabad realty market for affordable housing options.

Dujendra Bhardwajexecutive directorABCZ Builders Pvt Ltd


Mohit GoelCEOOmaxe Limited

DELHI/NCR

Established in 1989, Omaxe Limited, oneof the leading developers in North India,has so far developed about 87.7 million sqft of space. e company has also showninterest towards Tier-II and III citiessuch as Lucknow, New Chandigarh,Bahadurgarh and Indore. Mohit Goel,chief executive officer of Omaxe, talksabout high scope of real estatedevelopment in these cities and howinvestment here can reap good returns inyears to come. Excerpts of the interview:

‘Housing demand is robust in TierII and Tier III cities’Which are the areas you expect to seemaximum real estate development in theyear 2014?

In the year 2013, we have launchedprojects across regions from Ludhiana toLucknow, New Chandigarh, Bahadurgarh,Indore etc. Considering the demandscenario, Lucknow and New Chandigarhcould see maximum development in theyear 2014. These markets are stilluntapped and the rising income levels andaspirations have propelled demand inthese regions. Going ahead, as these citiesgrow due to positive factors, such asemployment opportunities, migration,better infrastructure development etc, thedemand will escalate.

What is the volume of sales and stock inthe year 2013 vis-à-vis the last year?

In the period Jan-Sep 2013, the companysold 6.83 million sq ft as against 6.10million sq ft in the same period last year.

What type of BHK configuration andwhich price bracket was most demandedin the year 2013?

Since we operate mostly in Tier-II and Tier-III cities, we see a lot of demand for 2BHK

apartments in these cities. However, aclear differentiation in terms of preferencewould be difficult to classify because citiesin Punjab prefer plotted development, whileother cities, where the service-classpopulation resides, has an inherentpreference for apartments and villas.

Has any infrastructure delays in the cityimpacted your real estate project in thelast one year?

Today, every state has madeimprovements in infrastructuredevelopment - both physical and social.Improving connectivity and inter-cityaccess are some important developmentsthat help bring investments, which in turnresult in job opportunities.

Cities such as Lucknow, New Chandigarh,Jaipur, Indore have seen significantinfrastrcuture and real estate developmentin the last five years, which is gettingbetter. This is adding to the growth of thereal estate sector.

Regions, such as Bahadurgarh, Rohtak,Sonepat and Faridabad have todaybecome serious challengers to Noida andGreater Noida in terms of preferences.


How will the upcoming general electionsimpact your real estate development?

To some extent, not only the real estatemarket but the economy as a whole getsaffected, since approvals maybe delayedduring this time. Also, a lot of businessstrategy depends on political ideology andbusinesses prefer to have certainty, beforecommitting to invest their cash flows.

The real estate industry is facing afinancial crunch. How is your groupcoping with it?

In Tier-II and Tier-III cities, the demandcontinues to remain robust. We are placedin a comfort zone as far as our financesare concerned. Going forward, we foreseea strong demand-driven growth.

What are the five things you wish tohappen for the real estate sector in theyear 2014?

This year looks good as market sentimentsare expected to pick up post the generalelections. The present scenario posescomplex issues of liquidity, subduedconfidence, high interest rates, politicaland economic uncertainty.

However, in 2014, we hope the globaleconomy will get better.

We also hope and expect the governmentto take cognisance of the long-pendingdemand of the real estate sector, such asgiving it an industry status, incentive foraffordable housing and enhanced taxreliefs for the home buyers.

With rising demand and income levels, the untappedmarkets, such as Lucknow and New Chandigarh could

see maximum development in the year 2014.

‘Expect a challengingscenario for real estatesector in 2014’The passing year 2013 was an eventful year for thereal estate industry in India. The economy was notstable and this significantly affected the real estatesector. The government passed the Real EstateRegulatory Bill to recreate the purchasing trend in therealty sector.

The developers were concerned about the flow ofinvestment which varied due to the unstable market.Irrespective of the various circumstances, the NationalCapital Region witnessed growth in terms of absorptionof the housing units as compared to the previous year.

We expect the year 2014 to create more challenging scenario as the Indian economyis still weak. We can also expect more transparency in the sector in terms of projectdeliveries and approvals. However, I feel that it is difficult to forecast anything aboutthe real estate market as the industry does not follow any logic.

Kumar BharatdirectorBCC InfrastructuresBharat City


Abhay KumarCMD Griha PraveshBuildteck Pvt Ltd

DELHI/NCR

Established in 2009, Griha PraveshBuildteck Pvt Ltd has made a mark foritself in the real estate industry bycompleting projects in Mumbai, Panvel,Pune, Raigarh, Aurangabad and Nagpurin Maharashtra and Meerut in UP. egroup entered the NCR region in 2013.Abhay Kumar, chairman & managingdirector of the group talks about theirjourney so far and his expectations from2014. Excerpts from the interview:

‘The realty sector pins hopes on theRegulatory Bill’ What are your expectations from theDelhi’s real estate market in 2014?

The real estate market is expected to see apick-up in demand in 2014. Due togeneral sluggishness in the market, theproperty values recorded a slump in 2013in most of the areas. Property transactionsfell in the past few months which made itdifficult for investors to put money in themarket. However, the housing sector isexpected to see a spur in growth in thisyear. Also, the much-needed real estateregulator is expected to be implementedwhich will further enhance the confidenceof customers.

Which areas are expected to seemaximum realty development in 2014?

Owing to smooth connectivity andimproving infrastructure, areas in andaround the Noida Expressway areexpected to grow in the year 2014.

Have you given possession of any ofyour projects in 2013? How have theyperformed?

We will give possession of our first NCRproject Griha Pravesh at Sector 77, Noidain 2014. Apart from premium amenities,

we have also integrated advancedtechnologies in the project thhat will enablecustomers to control every aspect of thehome they own.

Which locations in the city have an un-sold inventory and why?

Majorly, the unsold inventories are inGreater Noida West (Noida Extenstion) andGreater Noida Expressway. Weak marketsentiments have led to piling inventory inthese regions.

What will be the impact of the upcominggeneral elections on the city’s real estatemarket?

Change in the government is expected tohave significant impact in the real estatespace. The market is expected to remainsoft in the first quarter of 2014. However,by the second quarter, everything isexpected to be on track.

Any infrastructural development that hada positive impact on the real estatesector in the year 2013?

We have seen a lot of real estatedevelopment that has been positive for thesector in 2013. The planned extention of

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FOREWORD - property.magicbricks.comproperty.magicbricks.com/microsite/buy/magicbricks...commercial space, Supertech Ltd has a major presence in cities such as Noida, Gurgaon, Ghaziabad