Remove steel barriers on Dwarka Expressway, shift toll, say new sector residents

Remove Steel barriers on Dwarka Expressway- Neo SquareGURUGRAM: Hundreds of residents, under the banner of United Association of New Gurugram (UANG), from the new sectors on Sunday took out a
protest against the government for not working on the issues affecting them.

Among other issues, the protesters demanded the removal of the steel barriers installed to de-link Dwarka Expressway from NH-8 and and shifting of the Kherki Daula toll plaza that leads to traffic snarl in the area.
The protesters divided themselves in two groups and walked towards the Dwarka Expressway and NH-8 respectively, holding banners that highlighted their demands. “We hope the government will listen to pur problems after this protest and take steps to solve them,” said Shikha, a resident of the new sectors.

The protesters also threatened to not vote for the BJP government in the upcoming election if their concerns are not looked upon and resolved. “Our message is loud and clear through this protest. The government needs to take stringent steps to remove this toll or we will show our power in the upcoming elections,” Manoj Lakhani, who spearheads movement for the removal of Khiri Daula toll plaza.

Residents said they won’t back down unless the government resolved their demands. “Youth, children, women, and senior citizens — all have come together (for this protest) to showcase our sufferings due to the Kherki Daula toll plaza. We will knock all possible doors to get our voices heard. We are not going to back down,” said another protester requesting anonymity.

 

 

 

Source:- https://timesofindia.indiatimes.com/city/gurgaon/remove-steel-barriers-on-dwarka-expressway-shift-toll-say-new-sector-residents/articleshow/68040129.cms
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DPR ready, Gurugram metro linking Dwarka expressway awaits government nod

huda to dwarka metro

GURUGRAM: After a delay of three months, the detailed project report (DPR) of Gurugram metro route, which will link Huda City Centre with Sector 23, is finally
ready, and has been submitted to Haryana Mass Rapid Transport Corporation (HMRTC), according to sources in the Gurugram Metropolitan Development Authority
(GMDA). The project report has been prepared by RITES.

A meeting to discuss the project was held on last Friday between officials of GMDA, HMRTC and RITES. “The report has been submitted by RITES to HMRTC, and it will be sent to the Centre for its approval soon. After this, we can expect to start the work. We hope that work on the project can be started this year itself,” a senior GMDA official told TOI.

The metro route, according to the official, will start from Huda City Centre and go up to Sector 23, connecting Subhash Chowk, Hero Honda Chowk, Dwarka Expressway near Sector 101 and 104 and sectors 4, 5, 10A, 10, 9 and 9A.

Initially, 19 stations were planned on the metro corridor but in the revised plan, the authorities decided to build 22 stations. However, some officials in GMDA expressed their concerns over the plan to build the route via new sectors as these areas are “too congested to build a metro line” according to them. However, the development comes as a big relief for thousands of homebuyers on Dwarka Expressway, who had been demanding a metro link connecting the new sectors along the much-delayed expressway.
Another change incorporated in the new plan is to divert the alignment before the city railway station, while earlier it was supposed to go right up to it. Now, it has been decided that the metro link will turn 600-700m ahead of the station. The metro project is being jointly developed by GMDA and Haryana Mass Rapid Transport Corporation Limited, at a cost of Rs 1,785 crore, in order to decongest Gurugram.

 

 

Source:- https://timesofindia.indiatimes.com/city/gurgaon/dpr-ready-gurugram-metro-linking-dwarka-expressway-awaits-government-nod/articleshow/68059952.cms

Residents launch protest against blocking of e-way

Protest on dwarka expressway

Residents protest against the concessionaire’s attempt to block the NPR. The protesters got the road repaired and removed the grills installed by the highway operator near Kherki Daula toll plaza on Tuesday.

GURURGAM : The stalemate over the demolition of a wall between the northern peripheral road (NPR) and the Delhi-Gurgaon expressway continued on Tuesday with protesting residents not allowing the highway concessionaire to block the access between the two highways.

The wall, which ensured that motorists do not get access to the Delhi-Gurgaon expressway without paying the toll at Kherki Daula, was demolished on January 25 after a visit by the chief minister. The highway operator, MCEPL, had moved the Delhi high court against the demolition. The firm claimed that it got a favourable order from the court but did not have a written order. On Monday too, MCEPL officials were not allowed to block the link between the two roads by the residents.

On Tuesday, an MCEPL team reached the spot with earth moving machine to dig up the road to stop movement of traffic but the residents opposed. The team had to stop digging and return after a large number of residents of new sectors and villagers reached there. The highway operator alleged that the police were present on the spot but did not intervene.

The commotion at the spot where the wall was demolished continued throughout Tuesday. To ensure that the road remained functional and was not blocked during the night, the protesters decided to pitch a tent and hold an indefinite protest. Citizen groups from developing sectors came together in evening to hold a candle light march. “We have decided to hold a candle light march every day on 7 pm till the threat of blocking this road is over. Today over 200 people participated in the protest,” said Prakhar Sahay, secretary of Dwarka expressway welfare association.

The United Association of New Gurugram, which has also been participating in the protest since morning, said, “We are opposing the unilateral and arbitrary decision of closing the road. We will sit throughout the night on the spot to ensure road is not blocked,” said Pravin Malik, vice president, United Association of New Gurugram.

The concessionaire, however, said they were within their right to stop traffic. It said the demolition of the wall was causing heavy loss to them. “We have got the written order of the high court and installing temporary grills as per the order but our work is being hampered. This is against the rules and local administration is not helping us,” said S Raghuraman, CEO, MCEPL, who had to leave with his team after failing to erect the grills.

Raghuraman said they have approached the Gururgam police commissioner and sought his help through a letter. “If we don’t get help from the police then we will approach the high court and seek its directions for getting the order implemented,” he said.

The protesters, who removed a temporary grills installed by MCEPL to prevent the movement of vehicles between NPR and Delhi Gurgaon expressway, said the firm misinterpreting the high court order to get undue advantage.

Kherki Daula residents and villagers from the area also said when locals can be exempted from toll then sector residents in same revenue estates should also get the concession. “The government has to shift this toll plaza,” said Monu, a resident.

Source :-https://www.pressreader.com/india/hindustan-times-gurugram/20190130/281565176989298

Bengaluru, Delhi likely to be 3rd & 4th fastest-growing in office rentals globally

Bengaluru: Bengaluru and New Delhi are likely to be the third and fourth fastest-growing office markets globally in terms of prime rentals on the back of upbeat demand and inadequate availability of quality properties. Office rental values in Bengaluru are expected to increase 6.6% over 2018, while in New Delhi they may rise 6.5%, this year, according to a report by Knight Frank India.

Rentals are getting a boost as demand remains buoyant from IT/ITeS companies and startups amid lack of quality space in key markets.

Bengaluru saw prime rental values of Rs 125 per square foot per month in 2018, mainly on account of low Grade A supply, according to the report titled, ‘Global Outlook 2019,’ which evaluates 33 global cities.

New Delhi’s prime rental values of Rs 326 per sq ft per month came mainly on the back of constricted fresh supply.

Mumbai’s prime office rentals are expected to remain stable with growth estimated at only 0.3% in 2019. The recorded rental for prime markets in the city is about Rs 300 per sq ft per month, largely because demand has shifted to secondary and peripheral locations due to high rental values in other places.

Bengaluru, Delhi likely to be fastest-growing in office rentals globally

“The rental growth is also the prime reason for increased interest from institutional
investors in acquiring incomeyielding assets in the commercial segment,” said Shishir
Baijal, chairman of Knight Frank India.

The vacancy rate is expected to improve to 15% in New Delhi in 2021 from 16.5% in 2018 and to 14% in Mumbai from 19 8% indicating an increase in employment generation.

The rate for Bengaluru remains at 3.2%, Knight Frank said. “The commercial segment
continues to show growth in 2019, much like the year past, when leasing activities
breached 46 million square feet and touched a historic high. However, the supply side has not been as robust, keeping rental growth positive,” said Baijal.

Melbourne and Sydney will see the largest rental growth in 2019, with rents rising 10.1%
and 8.6%, respectively. Both cities are experiencing tight supply in their office markets due to the sustained strength of employment growth and relatively low levels of completions in recent years. Prime rents rose 13% in Sydney and 6% in Melbourne over the past year.

Across the global markets, uncertainty surrounding trade tensions and political events has led to a pause in the development pipeline.

 

 

 

Source:- https://economictimes.indiatimes.com/industry/services/property-/-cstruction/bengaluru-delhi-likely-to-be-3rd-4th-fastest-growing-in-office-rentals-globally/articleshow/68001799.cms

Property sales seem to show slight improvement in Dec quarter

Property Sales show slight Improvement in December

Real Estate sales have been struggling for a while

After continuous fall in sales of residential units since 2013, the year 2018 brought some respite for developers as sales volume improved slightly. However, the number of unsold units remains high despite fewer project launches and that’s a matter of concern for supply side stakeholders.

INCREASE IN SALES

Real estate developers havebeen struggling to keep their sales books rolling for the last few years as demand from end-users has been low, while investors have been steering clear of the market.

However, according to reports from different real estate consultants, sales of residential units improved during 2018.

For instance, according to a report by Knight Frank India, a real estate consultant, “Residential sales grew by 6% during the year 2018 compared to the previous year, 2017.” The report was based on the sales figures from eight cities—Mumbai, NCR, Bengaluru, Pune, Chennai, Hyderabad, Kolkata and Ahmedabad.

Similarly, according to the quarterly report from PropTi- ger.com, part of Elara Technologies Pte Ltd which also owns Housing.com and Makaan.com, “On year-on-year basis, sales improved on average by 30% in Q3 2019 compared to Q3 2018.” ThePropTiger report covered all the cities that Knight Frank India did, but assessed Noidaand Gurgaon separately instead of treating NCR as a whole.

Though sales improved, the numbers are far from offering comfort to developers. Supply side stakeholders were expecting much better sales during 2018, but they remained below expectation during the 2018 festive season.

Liquidity crunch in the industry at the end of the year also had an impact on the sales. According to the PropTiger report, Pune witnessed an increase of 59% in sales during the December quarter in FY19comparedtothesame quarter in FY18, followed by Mumbai with 54% increase during the same period.

However, unlike Mumbai and Pune, the NCR market did not do well. Gurgaon witnessed a fall of 26% in sales, while Noida sales improved marginally by 4%.

HIGH INVENTORY

Given that most developers are focusing on clearing inventory and not launching new projects, “unsold inventory camedownby 10% from 892,175 units to 799,081 in top 8 cities during Q3 FY19 compared to Q3 FY18, respectively,” said the PropTiger report.

Though the inventory came down a bit, the number of unsold units is still very high and continues to remain a concern for developers.

According to the PropTiger report, “Inventory overhang has decreased to 31 months as compared to 34 months from the last quarter. Ahmedabad has the highest inventory overhang of 45 monthsfollowed byKolkata at 41 months. Hyderabad witnessed the lowest inventory overhangof 20 months, followed by Chennai and Bengaluru at 22 and 24 months, respectively.”

Inventory overhang indicates the numberofmonthsitwill take to clear existing inventory at the current sales volume. According to another report by Anarock Property Consultants, “An inventory overhang of 18- 24 months signifies a fairly healthy market.”

On the demand front, most homebuyers are considering buying ready-to-move or nearcompletion apartments.

There is huge demand in the affordable housing segment, thus most launches in 2018 were below the price range of ₹50 lakh. Thetrendis expected to continue even in 2019 and further.

Also, until the real estate market remains flooded with unsold inventory, prices will remain stable.

Source :-https://www.pressreader.com/india/ht-estates/20190209/281492162570754