Tag: Mr. Vijay Verma

Mr. Vijay Verma, CEO, Sunworld Group
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Jewar Airport drives interest in Noida

Aug 23, 2021 by Rekha Nair 0 Comments #CEO, #Jewar Airport, #Mr. Vijay Verma, #Sunworld Group

-Mr. Vijay Verma, CEO, Sunworld Group

The Uttar Pradesh government has found a few ways to attract MNCs, including fostering an approach for extending employment opportunities to transient specialists and relaxing work laws, in addition to other things. While these approaches will help the whole state, the Noida, Greater Noida, and Yamuna Expressway would benefit the most because of their prevalent foundation. Foundation and network are relied upon to work on further with Noida-Greater Noida Aqua Metro opening and the proposed Jewar Airport.

The areas give top-notch living alternatives. Any expansion in economic activity will help interest for residential and commercial real estate all through the region. The prospects of this NCR market remains strong as it is the hub of competitively-priced real estate inventory. Some areas along the expressway’s periphery and the adjacent regions have significant potential because housing prices are still affordable. Any increase will benefit sectors with excellent connections via Metro and Expressway; International Jewar Airport adds to the region’s prospects, which are expected to see a surge in demand for residential and commercial properties.

Noida is already drawing in uplifted interest from buyers, attributable to the presence of reputable developers and how it offers excellent connectivity. Prices are competitive, and an increase of generally 15% is anticipated in the coming months. The region offers a great deal of life, making it quite possibly the most pursued areas. The presence of green life and all-around improvement are the pointers of effective land development. The appreciation will fluctuate contingent upon the projects in the area; for instance, luxury projects would appreciate by around 20%, while other projects by around 15%.

These big-ticket infrastructural developments typically cater to the needs of young people, who want luxury to surround them. A significant portion of the real estate demand in India has been contributed by the age group of 19-35 years, and this segment is likely to increase the need for superior quality urban infrastructure. If urban infrastructure comes in the form of such ‘big-ticket developments’, prices will surely go up, looking at the demand.

The news on Jewar Airport has stood out enough to be noticed since versatility would work on much more. Over the past half-year, this region has had a price appreciation of 1-3%; the low appreciation has been because of the pandemic circumstances. The developments are advancing rapidly, and it is expected that the planned city, which this area is, will be fully equipped for a quality lifestyle in a couple of years, and with the public authority’s accentuation on real estate, the city is ready for individuals to put resources into real estate.

Before settling on a buying choice, individuals look for availability and task quality. Property here has a great foundation, and individuals are becoming more mindful of the space’s latent capacity, particularly with the announcement of Jewar Airport. The market is now flourishing as people are attracted by the guarantee of a perfect climate here.

Business World

Upsurge in demand for Luxury RTMI in Noida

Apr 1, 2021 by Neel Achary 0 Comments #CEO, #Mr. Vijay Verma, #Sunworld Group

By Mr. Vijay Verma, CEO, Sunworld Group

The growth of luxury real estate in India is going to be on a positive scale for quite some time, as the number of ultra-net-worth individuals are on a rise from few years. Taking into account, one of the most important realty markets in North India- Delhi NCR; there lies a myriad range of luxury and ultra-luxury residential options that can very well cater to the demand of designed and customized abodes, as preferred by HNIs, UHNIs, and NRIs etc. The trend is also fast pacing due to the prevalent favorable economic scenario, there are first time luxury homebuyers looking to develop an asset. Several requisites from their end are sparsely populated areas with seamless connectivity to prime locations of the city. Sustainable living options are on rise, homes designed and constructed on the lines of wellness and health amenities are gaining more attention from fence-sitters.

The Union Budget 2021-22 has also seen some significant initiatives taken for developing infrastructure growth. The government has allocated Rs 20,000 crores to set up and capitalize a Development Financial Institution (DFI) which will act as an enabler and catalyst for infrastructure financing.  Also, Rs 5 lakh crore lending portfolio is to be created under the proposed DFI in coming three years. This Union Budget has also allocated Rs 1,18,101 crore, the highest ever outlay, for Ministry of Road Transport and Highways. Such profound measures are likely to bring a whirlwind of change in the infrastructure development.

Such developments are likely to affect the value of the property, and also become a yardstick for the price appreciation. For the Noida and Greater Noida real estate market, Noida International Airport and Film City will play a similar role. Apart from this the Haryana job quota law which will reserve 75% of private sector jobs with monthly pay of Rs. 50,000 will lead to companies shifting to Noida. This will bring in a new set of well-paid corporate executives to the region looking for luxury spaces that represent their stature. This law will be giving a robust growth to real estate in Noida- Greater Noida region, attracting more industries and businesses to set up units. Subsequently, demand for residential and commercial projects will rise. Some of the other infrastructural developments happening in Delhi NCR are widening of NH 24; Dwarka Expressway helping real estate of Gurugram go through an evolutionary phase, Delhi-Meerut Expressway and Delhi-Dehradun expressway etc.

The pattern in which HNIs and UHNIs engage in property purchase is known to real estate players. They don’t just limit themselves when it comes to investing in property, but believe in expanding their assets as a status symbol and also because of the high ROI it offers. Buyers prefer entering in a deal with luxury players who have a legacy in developing such projects, due to their keen eye for selection of furnishings, embellishments and other ornamentation used to make the homes a mark of luxury excellence and opulence. Past few years, luxury home developers have also gone extra mile and collaborated with world class designers, and architects to deliver their buyers unique realty marvels with magnificent aesthetic quality. All these combined efforts of developer and government making scenario positive for real estate investment are likely to maintain stability in the luxury real estate as a whole.

Business World

Prominent changes real estate is undergoing amid preventive times

Nov 27, 2020 by Neel Achary 0 Comments #CEO, #Mr. Vijay Verma, #Sunworld Group

The real estate sector has undergone a massive change ever since the lockdown was imposed like every other industry. From preventive measures adopted at construction sites post-lockdown, the essential nature of technology advancement at sites and sales is a subject with multiple aspects. The government has also come forward with relief measures for sectors like never before, one of them being stamp duty reduction.

Mr. Vijay Verma, CEO, Sunworld Group talks in length about the positive impact stamp duty reduction, if announced will have on the UP real estate market. The developer also highlighted the change in government’s intent towards making the real estate sector more self-reliant and the novel amenities they plan to introduce in their upcoming projects.

What are some of the rules required to adhere to, now that you have resumed construction?

Our team has taken special care of managing the work at construction sites smoothly. They are following all the guidelines issued by authorities. Apart from COVID, there are also other illnesses that have become prevalent in the NCR region due to poor quality air index. Keeping our workers’ safety in mind, we have a medical professional visiting our site for holding frequent health checkups.

Besides the imposed rules, how are you going the extra mile to safeguard your construction site and people?
The sanctity of keeping our surroundings clean and hygienic cannot just be a practice till the time vaccine is out. We are planning to abide by a few of these guidelines for an extended period for the workers’ safety and good health.

How will you look at adopting more technology at construction sites?

The overall scenario post-lockdown has been optimistic for the industries relying on technology as the Government has started to show increased interest in making the nation self-reliant. Technological support will play a significant role in this; authorities are aware of this fact and are planning their policies accordingly.

Have the ongoing projects been affected in any way considering they were lying untouched for nearly six months
We are glad the authorities announced ‘force majeure’ in real estate, this has helped us maintain our promises to buyers without tainting our image in the market. Projects are in a good state now that work has resumed in full force. We were also glad that our teams working from home left no stone unturned for keeping the interaction with prospective buyers ongoing even during the lockdown.

Now that you have had time to think, how can you bring in novelty in future projects?

Our projects are known for community building. We plan to build on it in a manner that these activities are an amalgamation of virtual and offline activities looking at the current times. Also increased green cover in our projects, with trained facility management staff for unprecedented situations like these will become our priority.

The reduction in Stamp Duty may have seen a spike in home buying. What does your intuition tell you of the situation a year down the line?

Reduction of stamp duty has been announced for only a few real estate markets, the most prominent one being MMR. UP RERA has written to authorities for seeking the same relief to their state as well. Noida-Greater Noida has a significant number of unsold inventory, and if it is announced here, then the confidence of buyers is bound to get further strengthened towards the sector.