LON GMARCH - MISSION POSSESSION: GURGAON
The developers of Gurgaon and its adjacent regions continue to focus on giving possessions in their realty projects, despite adverse market conditions over the past few years. “This is the only way we can win back the confidence of buyers, which is very essential for the sector as a whole,'' said Getamber Anand, president of Credai and CMD of ATS Group. “We create assets, which is hugely important for nation building,“ Anand said.
“Mission Possession“ is now the buzz word in this market with developers and builders mobilizing all the necessary financial and management resources to fast track work on their stalled projects.
DLF Garden City's Regal Gardens in Sector 90, New Gurgaon, is ready to hand over possession of 540 units by the end of 2016 with another 624 units in its project, Primus, in Sector 82 A, Gurgaon, slated to be ready for handover by the year end, a spokesman of the firm said.
Tulip Infratech has promised its customers possession in 660 units in the next six months. Parveen Jain, CMD of Tulip Infratech, said: “We successfully delivered projects like Tulip Petals, Tulip Grand, Tulip Orange, Tulip Ivory, and Tulip White in Sectors 69-70 Gurgaon-Sohna Road in the last six months. Also, we are offering 660 ready-to-move-in units in Phase 1 of our new group-housing project, Tulip Violet. The units, 3and 4BHK, are spread across 11 fifteen-storeyed towers.“
Sources said that Raheja Developers, Sobha Developers, and Experion Group are offering possession in more than 1,000 units along DwarkaGurgaon Expressway, especially in Sector 108.
ATS Group has applied for occupancy certificate (OC) for its projects ATS Kocoon and ATS Triumph, in Sectors 109 and 104 on Dwarka Expressway, with its CMD, Getamber Anand saying that there was no delay from their side in completing the projects. Anand said that both the central and state governments are in mission mode to develop infrastructure, which is very encouraging for the sector. But there are issues over external infrastructure like electricity supply, water supply, etc.
The Dwarka Expressway is set for completion by December, 2016, as over 95% work is complete. Work on the remaining 5% has been taken by the authorities in right earnest.
Sobha Developers has recently obtained OC for 100 villas and given possession, while it plans to obtain OC for another 70-75 over the next six months in Sobha City, an upscale township in Sector 108 of Gurgaon.
Chintels Group got OC for Chintels Paradiso, spread over Sectors 108 along Dwarka-Gurgaon Expressway. The group has offered possession for around 325 apartments in the first phase and is set to deliver the rest, around 200 apartments, in the next couples of months.
Market sources said that nearly 5,000 housing units have already been delivered in the past six months, even as top-notch developers like DLF, ATS, Bestech, Vipul, Vatika, Raheja Developers, EMAAR MGF, Tulip Infratech, MAPSKO, Sobha Developers, Chintels, Orris, CHD, Satya Group, Central Park, etc, gear up to deliver over 10,000 units over the next six months. Navin Raheja, CMD of Raheja Developers, said: “We have already offered 750 units for possession in Raheja Atharva, Raheja Shilas, Raheja Vedaanta, The Vedas, and Vedaanta Independent floors in Sector 108. In addition, we will deliver another 650 units in Raheja Navodaya and Raheja Sampada in Sector 92 in Gurgaon. The group will also offer possession in Aranya City, Phase 1 on Sohna Road over the next six months.“
Raheja said that all the talk that areas along Dwarka Eway are not connected to Delhi and Gurgaon is bogus. Even today, one can drive directly to Dwarka in Delhi from regions between Sector 99 and Sector 115 on Dwarka Eway in 10-25 minutes, depending on where you are on Dwarka Expressway; and, once one reaches Dwarka, they reach Janak Puri in west Delhi and Dhaula Kuan in another 20 minutes.
Satya Group has offered possession of 267 units in The Hermitage, in Sector 103 on Dwarka-Gurgaon Expressway, in the last six months. The group is set to offer possession in another 724 units in Element (431) and The Hermitage (431) in next six months, a spokesman of the firm said. “After the successful delivery of Park View Ananda (710 flats and 14 villas) in Sector 81, we are ready to deliver Park View Grand Spa in Sector 81 and Park View Spa (in F tower) in Sector 47, Gurgaon, in the next six months,“ says Dharmendra Bhandari, MD of Bestech Group.
In last six months, Vatika Group offered possession of 898 units in its projects, Boulevard Residences and Heights, City Homes, Gurgaon 21, Independent Floors, INXT Floors, Lifestyle Homes, Premium Floors, The Seven Lamps, Signature Villa 2, and Vatika India Next Plots--all located in Sectors 83 and 82. The group plans to offer possession of another 1,112 units in Boulevard Residences and Heights, Independent Floors, INXT Floors, Premium Floors, The Seven Lamps, Signature Villa 2, Signature Villa, Sovereign Next, Vatika India Next Plots, and Xpressions in the next six months.
MAPSKO has handed over 912 units in MAPSKO Casa Bella in Sector 82 on NH-8, Gurgaon, where 100 families are already residing. The group plans to deliver 324 units in MAPSKO Paradise in Sector 83, Gurgaon, in the next six months.
Amit Gupta, MD of Orris Group, said: “We have delivered 1,250 units in Carnation Residency and Aster Court in Sector 85 in the last six months. Now, we plan to deliver 450 units in Aster Court Premier and Greenopolis (a joint venture with 3Cs) in Sector 85 and 89, respectively, in nest six months.“ SARE Homes has given possession of more than 350 units and are expecting to deliver another 600 units in their township project, SARE Crescent ParC, in Sector 92, along the Gurgaon-Pataudi Road, in the next six months.
Vineet Relia, MD of SARE Homes, said, “With the real estate industry going through a slump in recent times, our focus is more on timely delivery, which is critical in winning back the trust of customers.“Vipul Group has offered possession of 358 units (2, 3-, and 4BR plus servant segments) in Lavanya Apartments in Sector 81, Gurgaon and the group plans to deliver 180 units of the same projects in the next six months.
Central Park has given possession of 450 apartments in Central Park Resort in Sector 48 on Gurgaon-Sohna Road in the past six months. M3M Group plans to deliver nearly 2,000 units in Golf Estate Fairway West, Merlin, Woodshire and Escala located on Golf Course Extension Road, Sector 65, in the next six months. CHD Developers has offered possession of 37 units in CHD 71 Avenue, in Sector 71 on Gurgaon-Sohna Road, in the last 6 months and plans to deliver 114 units more in next six months, a spokesman of the firm said.
TDI Infracorp has started to handover nearly 5 million sq ft of built-up area and 1 million sq yards in plotted development along NH-1. Nitesh Kumar, CEO of TDI Infracorp, said, “We are giving possession of 2.1 million sq ft in built-up area in our township project Tuscan City, while we plan to hand over 0.5 million sq ft in built-up are in TDI City My Floor and Kingsbury, in the next six months.“