The mood being moribund for several seasons now, the time to change things in realty is long overdue. Ever since the Modi Government took charger the Centre, there has been an all-round positivity in the business sentiment, the realty sector being no exception. Despite key legislation getting stalled because of a prolonged logjam in Parliament, the realty sector has a lot to look up to in the coming months of 2015 and there is much-excitement for the sector up ahead. And with a new year now, things are certainly looking up.
What really kick-started the mood change were some of the announcements made by the government in its inaugural Union Budget. ‘Housing for All by 202, creation of 400 smart cities across the country, approval to establish real estate investment trusts (REITs) and tax incentives to home buyers certainly being the key moves among them. And these were followed by more realty-friendly measures like the relaxation in FDI norms in construction. Although, these bold announcements are yet to lead to on-ground conversion of sales, the Government has made its intent clear.
Keeping the upbeat scenario in mind, Realty & More contacted some prominent developers on their plans for the New Year. We told them to be specific about their delivery and project schedules in the coming months and also come forward with their overall agenda for 2015. Though many of them were not really forthcoming, here’s a roadmap some of the developers have agreed to share, in their own words, with the readers of Realty & More.
With an overall upbeat sentiment in the sector, we at Wave Infratech would be geared up to continue with quality and timely construction of our projects Wave City Center, Noida; Wave City, NH24 and Wave Estate, Moil/lc:di. With the First phase of all our projects under way, we have both deliveries as well as view launches planned for the upcoming year.
At Wave City Center, Noida, our HSSCs (High Street Shopping Condominiums) would be ready for fit-outs ahead of their scheduled delivery in 2016 showcasing our commitment towards our projects. Likewise at Wave City, NH 24, products like Wave Floors, Prime Floors and Armonia Villas would be ready for possession sometime during the year. Also, the structure of our iconic 41- storey wave one in the heart of Sector-18 Noida would be ready by early 2015.
Rajiv Gupta, CEO, Wave Infratech
Our major agenda for the next year will be customer-centric that we will improve upon the feedback given by our customers and implement them in our new projects. We have specific plans for 2015. We will be starting construction of Gulshan Bettina. We are coming up with two new projects in Noida, one is residential and the other might be a commercial venture. The handing over of complete project (Phase-1) of Gutshan Vivante is on the cards. The handing over of Phase-1 of ikebana will be started by the year-end.
Deepak Kapoor, Director, Gulshan Homz
We are expecting a lot of developments to happen in 2015. We are gearing up for possession for few of our projects and also plan to launch new projects in the New Year. The market lately has been picking up and we expect it to get better within few WoOtathS. We are also expecting the Budget 2015 to bring cheers on everyone’s faces.
Ashok Gupta, MD, Ajnara India
In the year 2015, our plans are to target overseas investors and focus more on online sales. We’re looking forward to offer options to buy or book homes online as customer interest in hunting for homes online seems to have picked up across categories. We also have on our agenda to launch an app which will make it convenient for our customers to get all the information about the Group and its projects. We’ll also make an arrangement to book a flat on-the-spot via this app. From knowing project details to its booking, everything will be so expedient.
Anil Mithas, CMD, Unnati Fortune Group
We shall be adding multiple products in the stable of 52nd Avenue like customised offices, high end apartments. We shall also be launching residential projects in Noida besides two 10-storied premium office complexes in the Noida IT/office hub—one each in Sec 127 and Sec 62. They will be operational by mid 2015. A 2 lakh sq Ft mall shall be operational in 2015 at Bulandshahr, the city’s First mall, where multiple global brands have already signed in.
Mahipal singh Raghav, Chairman, MMR Group
We will be hitting the delivery deadlines for the Cherry County project as promised to our patrons who have invested in our projects. And will be adding more than 2,500 patrons and their loved ones to the ABA family.
We are also working towards the consolidation of our flagship project Cleo County, accolade as Asia’s best theme based project and is a step in the right direction to welcome our HNI patrons starting early 2016. We see this as a great opportunity to offer our consumers what we term as ‘Affordable luxury”, backed by innovation and technology that seamlessly amalgamates with grandeurs for modern luxury Lifestyle.
ABA will also be working towards its commitment towards the society by partnering with the Smile Foundation and Cook for a Smite Initiative for the mission of Nutrition for Better Literacy. In addition to this, we believe in driving “Greenovations”, integral to ABA’s ABA will also be working towards its commitment towards the society by partnering with the Smile Foundation and Cook for a Smite Initiative for the mission of Nutrition for Better Literacy. In addition to this, we believe in driving “Greenovations”, integral to ABA’s design philosophy focused towards creating a greener world through innovations in design architecture, constuction planning and execution and project management that inherently support sustainable development. we are therefore looking at quality projects that offer “affordably luxury” in order to meet the new age demands of our consumers.
Amit Modi, Director, ABA Corp
Central Park is going to offer its spacious townhouse with a high ceiling of 14 feet with adjoining garden having tropical plants and gazebo available in different sizes in the year 2015. We will also be launching Belvista – the limited finest residences for privileged ones which will change the dynamics of luxury residential living and services associated with ultra-luxury residences.
In addition to above, we will be launching CPIII – an integrated township which contains residential plots, luxury villas, floors and group housing at Sector 33, Sohna Road.
We have already given the possession of Phase II at Central Park Resorts. T39 next year, we will offer the possession of Phase III of Betgravia residences.
A Bakshi, Founder MD, Central Park
The company is planning to offer possession for its 150 flats in Big Sky Tower at Golf’ View Apartments in the first quarter of 2015 and 174 Fiats in Luxuria Towers in the second quarter. These are 3 and 4 BHK apartments with servant room in all the Flats.
We have the following projects lined up for Launch: Luvnest, VrindavanYojna – 2 and 3 BHK apartments, Urban Woods, Sector -C , pocket 7, Sushant Golf City, Lucknow – 2 & 3C BHK apartments, which are affordable yet luxurious. We are also scheduled to launch service apartments at Sushant Golf City in Lucknow. The project is yet to be named. Another launch due for the next year is imperial Green at Naini Allahabad. These are 2 and 3 BHK apartments on Rewa Road. Besides, we are planning an affordable housing project in Gurgaon next year.
A K Tulsiani, CMD, Tulsiani Constructions
The year 2015 is going to be eventful for RG Group as it plans to offer possession at its residential project located in Noida, Sector 120. After successful delivery of 14 commercial and retail projects across Delhi, the group ventured into group housing projects with ‘RG Residency’ in the year 2009 and soon followed it up with its second group housing project `RG Luxury Homes’ in Greater Noida (West) Sector 16B, in the same year.
After selling 90 per cent of the Inventory at RG Residency, the Group has specific plans for the year 2015, the First one being the launch of the new towers adding approx. 600 flats to the Inventory. Thereafter, the Group has planned possession in RG Luxury Homes in the second half of the year.
Adding another sparkle to 2015, the group will announce the launch of its third group housing project, at greater Noida (West) Sector-1.
Rajesh Goyal, Managing Director, RG Group
We are planning to launch a project in Sonepat for which we have already bought land and legal formalities have been done. if the market sentiwtent remains positive, we’ll start construction in 2015.
We’ll also deliver Vardhwtan Divine 1-Valley project in the New Year. Our first residential project Springdale at Pharulitera has been almost covvtpleted. We have just launched our first 1-00 pc residential project ‘ETA Height’ in Greater Noida, which would be 2,3,4 BHK budget home project. We’ll start construction in January.
We are also targeting our residential project to be delivered in 2015. For Divine I-Valley, we anticipate completion certificate in the coming year as all the construction work has been done.
Vivek Gupta, Chairman, Vardhman Estate & Developers
Our focus for the year 2015 remains on mid-segment category. we will be launching theme projects for healthier and more active lifestyle. Lotus greens desires elevating the spirit of sports in India, thereby securing the responsibility of approx. 500 acre of sports-centric developments in the NCR. While developing, our focus is to be holistic and follow the correct path for favourable geo-centric and sustainability parameters.
P Sahel, Vice-Chairman, Lotus Greens
We will be starting two housing projects and are into planning phase of the same. We are also planning to open a hotel, the location for which is yet- to be decided. Yes, as already mentioned we are planning to start various projects next year. We have already started bookings for Morpheus Pratiksha project this year and the possession will be given in 2017. Morpheus Greens project is ready to move and bookings are open for Morpheus Bluebell and Morpheus Pratiksha.
We are planning to expand our business in other verticals like film production and healthcare etc. Our consultants are also working on eco -tourism.
Prithvi Kasana, MD, Morpheus Group
We are planning to come up with a project in Mohan Nagar next year and the possession of JM Aroma will be given in 2015. I expect the Government to clear pending things in the New Year which will benefit the sector immensely and these are Real Estate Silt and a single-window clearance. Apart from this, we expect the sales and demand to increase as since last month the sales have started to pick up and the queries have increased considerably.
Rupesh Gupta, Director, JM Housing
Affordability will be the key in future and we firmly believe in it. We have already launched an affordable project and are getting ready to launch another one in Gurgaon. This project will have a thoughtful design and will be developed with all the modern day amenities as well as basic facilities.
Pradeep Aggarwal, CMD, Signature Global
Our word-class Vertical Club is to be launched in February and we have also scheduled the launch of a housing project by March next year. It is a gated community with an out-of-the-world clubhouse equipped with top-notch Facilities and a landmark building.
Towards the end of the year, in December to be precise, our project Pushpanjali Upscale Living which comprises 21 ultra-premium bungalow-style residences with luxury amenities located at Teg Bahadur Road in DalazAwala, is expected to be delivered. Its building structure is ready and the finishing work is in progress.
As for as deliveries are concerned, our project Imperial Heights is scheduled for the next year.
Deepak Mittal, Director, Pushpanjali Realm & Infratech
The year 201-5 is crucial for us as our dream project Walk n Style is going to be launched in the middle of the year. It’s a commercial -cum-residential project along with an IT park, located near Pari Chowk in Greater Noida. The soft launch for the commercial project has already been done and the bookings have started. The Shoomi Pujan is scheduled two months after the commercial launch of the project.
We are hopeful of completing 20 per cent of the project within the year 2015. Delivery is scheduled within three to four years.
At Mak Structure, we are quite optimistic about the year 2015. Despite severely hit by slowdown, falling rentals, low sales and rising inventories, the real estate sector still has a silver lining. One can find green shoots for the sector as the Government has taken several initiatives on the policy front.
Mohd. Asim Khan, MD, Mak structure