New Projects Launch Update

Ahiana Ekansh/ JAIPUR

Ashiana Housing has launched its premium project, Ashiana Ekansh at the Mansarovar Extension area in Jaipur.  Spread over 8.6 acres of land parcel, the project offers 560 dwelling units across nine towers with modern living .

Well connected to key areas of Jaipur, with easy access to schools, malls, hospitals etc, apartments at Ashiana Ekansh  will have utility spaces and  have premium specifications .The project will have 2-3-4 bedroom premium residences in various formats. The super area of the apartments will range from 2411 sq.ft.  for 4BHK to 1306 sq.ft.  for 2BHK. Each floor of the tower will have four apartments. And, every tower will have direct access to the Podium level central garden spread over 2.3 acres, making the area free of vehicular traffic.

The project offers a range of amenities and opportunities for outdoor activities. Well-crafted landscaped gardens with a water body will adorn the project premise and offer community sit-out areas for inmates. It will have Miyawaki Plantation, offering a forest walk feel. Residents will have plenty of open spaces, including common sitting areas, a skating rink  and a unique climbing wall. A 19600 sq. ft  clubhouse with a swimming pool , will have  well-equipped gym and gaming rooms for playing carrom, table tennis, pool, and cards will add value to the overall living experience. There will also be a  football ground and a cricket practice net for sports lovers. A commercial plaza  will cater to the  shopping needs of the residents.

At present the first phase of the project has been launched  and this will be ready for possession by 2026.

Saffron Grand/ Sonipat

NCR-based Samyak Properties has launched Saffron Grand residential project in Sonipat. It is a second project in Sonipat  after Saffron Estate which is nearing completion .

This project under DDJAY offers lifestyle villa living at affordable prices. What differentiates this plotted development is that all the plots are of the same size (180 sq yards) provide a larger than life experience with low density living to residents. Spread acrossa 6 acres in Sector 33, Sonipat, Saffron Grand stands out for its high quality design features and high end amenities that promise serene green environs with healthy lifestyle living.

Inorder to ensure necessary facilities in the vicinity of the project, a commercial (office cum retail) project with a club, would be developed . Saffron Grand will have 90 plots which will .  be launched in two phases. It offers atractive payment plans and will be delivered in 18 months.

Anand Niketan/ Sohna  

N S Arcus Group has come up with a premium plotted development – Anand Niketan in Sohna. This 12 acres of exclusive community in Sector 2, Sohna is a multi-tiered secured gated complex with well-planned infrastructure , roads and pathways.

Set in the backdrop of Aravali Hills, Anand Niketan offers peaceful living with well demarcated plots of 111 sq m -135 sq m sizes and choice of park facing and two side open plots. The project is strategically located close to prime locations of Vatika Chowk and Rajiv Chowk and well-connected to  Golf Course Extension Road and Expressway. It has an excellent social infrastructure in the close vicinity, including educational hub with reputed schools like GD Goenka School and K, R Mangalam University.

Anand Niketan promises  lifestyle living with good  amenities. There are multiple parks and ample green spaces. For fitness conscious residents, there is an outdoor gym. For sports lovers, there are different facilities including cricket practice net. Gazebos, sit- outs and yoga and meditation zone are the other highlights of this premium plotted residential development.

TORBIT SPOTLIGHT

HoABL’s   Rs 3000 Crore Investment Plan for Uttar Pradesh

HoBAL,(House of Abhinandan Lodha,) part of Abhinandan Lodha led Lodha Ventures has chalked out an ambitious  plan to invest Rs 3000 crore in developing real estate projects in Uttar Pradesh. This is a part of HoABL’s mega plan to invest Rs 11000 crore over the next four years.

As part of its Uttar Pradesh plan, HoABL will be launching housing projects in Ayodhya, Varanasi and Gorakhpur. The well known branded developer has partnered with the Uttar Pradesh government for developing  integrated townships in these key townships of  the state. HoABL, which is making rapid strides,  is on track to top Rs 1000 crore of net sales by March 2023. The company has sold 3.3 million sq ft of land so far across popular destinations like DapoliAnjarle and foothills of Matheran in Maharashtra. In FY 2023-24, HoABL is set to deliver 6 million sq ft of space.

Meanwhile , the Uttar Pradesh government on its part has made big plans to give a massive push to real estate development in the state. As part of its Rs 7.63 lakh crore investment plan over the next five years , the state government will require 75000 acres of land to  construct 64 lakh homes to achieve Housing for All by 2027. Currently, 32000 acres of land is available with the government and it has to make arrangements for arranging 43000 acres of more land.

Uttar Pradesh government will be constructing HIG, MIG, LIG & EWS houses in urban areas of the state and the special focus will remain on Ghaziabad, Gautam Budh Nagar and Meerut in the National Capital Region.

Knowledge Township to Come up in Kolkata

The West Bengal government is working on an ambitious plan to develop a knowledge based theme township .The plan is to develop this township named Samriddhi on 51.7 acres in Kalyani on a lease of 99 years.

As per the development strategy, the knowledge township will be developed by a private developer who will be selected through e-auction. Kolkata Metropolitan Development Authority (KMDA) has floated an expression of interest, inviting applications to participate in the auction, thereby rolling out the plan for the township development.

 West Bengal Realty Projects Set to be Registered Under RERA 

The newly formed West Bengal  Real Estate Regulatory Authority (WB RERA) is likely to see that all the under-construction projects marketed, advertised and sold without necessary approvals , are required to be registered  with the regulatory authority under the Real Estate (Regulation & Development ) Act 2016. WB RERA had replaced West Bengal Housing Industry Regulation Act 2017 (WBHIRA) , a substitute of central government’s real estate regulation act ,after it was struck down by the Supreme Court .as unconstitutional on May 4 2021.

Project promoters  as per the 2016 RERA  Act rules are required to get their ongoing projects registered within three months of the formation of the RERA Authority.  Forum For People’s Collective Efforts(FPCE) , which played a key role in the formation of RERA Authority in West Bengal, believes that after the ongoing  real estate projects in the state are registered under WB RERA, it will allay the concerns of the home buyers about the product quality and the timely delivery of homes.

Revised  Delhi Master Plan Notification by April

The draft Master Plan of Delhi -2041(MPD-2041)  which is in public domain since mid of 2021 is likely to be notified by the beginning of FY 24.

MPD-2041 which was to be notified last year , has been delayed due to finalisation of key policies  and amendments proposed in the Delhi Development Act 1957 . The key changes proposed by the Centre  are meant to facilitate the implementation of the land pooling policy . DDA has been working on key policies like  Green Development Area (GDA) Policy and regularisation of farmhouses.

Once this revised plan is finalised, it needs to be approved by the Lt Governor of Delhi before it is notified by the Union Ministry for Housing & Urban Affairs. It is worthwhile to mention that in September last, DDA had told the Supreme Court that the modified policy will be notified by April 2023. Once the policy gets notified, it will pave the way for the ambitious Land Pooling Policy.

Brigade Group Appoints Ravi Ahuja as COO , Commercial

Brigade Group has inducted Ravi S Ahuja as  Chief Operating Officer -Commercial (Office Space). Ahuja brings 25 years of real estate experience across multi-disciplinary asset classes, having performed strategic  and general management roles  in various leadership capacities. Prior to joining Brigade, Ahuja had worked with L&T Realty , Colliers International, and Cushman & Wakefield.

In his new role, Ahuja will lead sales, marketing and strategic planning  and will be responsible  for driving the growth  and profitability in asset  management revenues and operations of the company’s commercial office business.

Manav Gopal is President, Satya Group

A senior real estate professional Manav Gopal has started a new position as President, Sales , Marketing  , CRM at Satya Group. Manav Gopal has a rich experience in real estate transactions, property management, risk assessment, project planning , contract negotiation , business administration, client relations, besides sales and marketing.

Prior to joining Satya Group, Manav had held key positions of President Strategy and Planning (Sales, Marketing, CRM, operations) at Omaxe Limited, President Mapsko Builders and GM and Head Sales & Marketing at Umang Realtech .

Suneet Singh Joins TARC as VP Marketing 

NCR based real estate company, TARC has appointed Suneet Singh as VP Marketing.Suneet brings a cumulative experience of 23 years in marketing and sales leadership, leading multiple marketing disciplines including marketing operations, digital marketing, brand building and demand generation.

In her new role at TARC, Suneet Singh will lead all marketing functions.

Subhasish Panda is New VC DDA

An IAS officer of 1997 batch, Subhasish Panda has taken the charge of a new Vice Chairman of DDA in place of  Manish Kumar Gupta. Holding a Master’s degree in governance and development from UK’s Institute of Development Studies and Mphil degree in environmental science from JNU, Panda has experience in various areas including urban development , planning, public works and tourism.

Panda has taken over at a crucial time when DDA is engaged in undertaking key projects like Delhi Master Plan-2041, rejuvenation of Yamuna plans, in situ slum rehabilitation scheme and PM-UDAY scheme.