Bijwasan to be Delhi's largest transportation hub

Bijwasan to be Delhi's largest transportation hub.



http://indiatoday.intoday.in/story/bijwasan-delhi-transportation-hub-indian-railways/1/812666.html

Demonetisaton could bring down interest rates and make dream homes affordable

Projects undertaken by reputed and credible developers in the top eight Indian cities will remain more or less unaffected. This is because buyers who invest in such projects take the home loan route, and all transactions are carried out through legal channels. Hence, the primary market is likely to remain relatively untouched by the radical step. However, home buyers can look forward to better pricing in the secondary or resale market. 

http://economictimes.indiatimes.com/wealth/real-estate/why-property-is-likely-to-be-cheaper-after-demonetisation/articleshow/55511521.cms

Millennials to drive real estate market in India

82% of the Indian millennials stay with their parents and a large majority look at real estate as a sound investment opportunity, says the report. 25% of these have no intention of leaving the family home, according to the survey on millennials by CBRE Group Inc., the world’s largest real estate consulting firm.



Read more: http://bit.ly/2frAEGX 

Fast track courts for infrastructure delays in India?

Dwarka Expressway under construction

Infrastructure is really India's biggest problem when it comes to attracting foreign investment. The second problem is the lack of ease of doing business and corruption. But in this post we are only going to look at certain aspects of lack of infrastructure. We will look at other aspects of this in later posts.

One of the reasons of lack of infrastructure is simply because ongoing infrastructure projects are severely delayed. Let's take the example of the Northern Peripheral Road (NPR) more popularly known as the Dwarka Expressway.

When this road was announced almost half  a decade ago, it brought cheer to real estate market with the hope of having a new alternative to NH-8. Construction of 14 out of the 18 kilometres in Haryana is already completed. However, 4 kms of this stretch (not contiguous but divided into 200 M here and 300 M there, you get it). But these patches were mired in litigation and unfortunately our legal system took about 3-4 years to clear that litigation.

Now when we hear of certain types of crime, we ask for swift justice. We say there should be 'fast-track courts' to punish and sentence offenders. Agreed. But my question is - why can't we have fast track courts for infrastructure projects in our country when that is the biggest challenge being faced?

We can. We should andI appeal to all governments and honourable courts in this nation to consider this and in the interests of national development make it happen.

- Prashant Solomon (MD, Chintels & Credai NCR Treasurer). Follow him on Twitter: @prasol

Gurgaon real estate - when will things look up?

The real estate market in Gurgaon, like pretty much across India seems to have really slowed down a lot. I am asked this question all the time by friends and media, "When will real estate pick up?" Well, I can't say exactly when, but I am sure it will. Like stocks, real estate is also cyclical in nature; but unlike stocks where volumes are often the same throughout and its the stock prices that are affected, real estate in Gurgaon particularly sees ups and downs in volumes, but the primary market so far has not seen any reduction in prices of homes. 

Gurgaon's real estate I feel has been the victim of lack of infrastructure being developed by the Govt. of Haryana despite having collected several thousand crores of rupees in the form of EDC (External Development Charges) and due to too much red-tapeism from various departments. The delay in large infrastructure projects like the Dwarka Expressway in particular has been caused primarily by delays of our legal-justice system. Cases that could have been fast tracked by the courts and could have been decided in a matter of months have taken more than three years to decide.

Let us hope that moving forward things will be different. But that could be just wishful thinking. 

- Prashant Solomon (MD, Chintels & Credai NCR Treasurer). Follow him on Twitter: @prasol

(The views expressed are personal)