Tag: Sikka Group

Sales share of Noida and Greater Noida in NCR was 49% in H1 2021: Report
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Sales share of Noida and Greater Noida in NCR was 49% in H1 2021: Report

Jul 20, 2021 by Rekha Nair 0 Comments #CEO, #Harvinder Singh Sikka, #MD, #Migsun Group, #Sikka Group, #Sunworld Group, #Vijay Verma, #Yash Miglani

According to Knight Frank’s latest report in residential real estate, “Since the pandemic, homebuyer preference for bigger homes in peripheral markets has worked in favour of Noida and enquiries for gated communities have been on the rise. Fence-sitters, who were earlier reluctant to live far away from the city, are showing interest in purchasing homes in far-flung sectors closer to the Yamuna Expressway, such as Sector 142, Sector 143 and Sector 150. Demand for residential homes remained strong for Sector 43, Sector 50 and Sector 75 too.”

On the other hand, the average property prices did not show any rise; however, the report says that “some sectors in Greater Noida have seen a marginal softening of prices in the range of 1-2% YoY”. In the review era, new launches changed, but the sector still has a long way to go to regain its pre-COVID-19 momentum. Noida’s percentage of the total launches in the NCR fell to 28 per cent in H1 2021. There has been a scarcity of new projects in this sector, with few places on developers’ radar as potential development corridors. Homebuyers continue to be drawn to areas like Noida Extension and the Noida-Greater Noida Expressway, skewing the supply of new residential inventory in these areas.

Greater Noida’s share in the overall sales remained steady at 34% in H1 2021. Greater Noida has witnessed traction in the past few months for ready-to-move-in homes. With a gradual return to normalcy, optimism is returning in this market for ready to move in inventory with a price tag of more than INR 5 million, says the report. “Because nothing is more important than one’s well-being, and people are more aware of this than ever before, there is a tendency toward migrating to larger spaces. The figures show that the emergence is taking place. Noida’s well-developed road network allows for speedier commuting, resulting in increasing interest in the real estate market,” says Vijay Verma, CEO, Sunworld Group.

Looking at the residential sales landscape of NCR, the percentage share of micro-market absorption has largely remained unwavering as compared to H1 2020 with Noida and Greater Noida combine ruling the sales graph; the sales share of Noida and Greater Noida was 49% in H1 2021 compared to 53% in H1 2020. Yash Miglani, MD, Migsun Group says, “The region is popular among end-users, particularly among the working class, and sales have been fantastic. Greater Noida West has experienced a lot of people and sales activity since the 2020 lockdown. Infrastructural upgrades, such as extended subway, road connectivity, and announcements like Jewar Airport, are also supporting the development.”

According to the report, the downward trend of unsold inventory witnessed since 2016, continued in H1 2021. With a 12% YoY decline in the latest period in Noida and 16% decline in Greater Noida, the two regions have emerged as buyers’ choice in NCR. “The success of Noida can be attributed to its image among the middle class; during the pandemic, the working class learned the importance of a real estate asset and began hunting for one in this city. In the following months, we expect a big response in the residential market, as the momentum is unlikely to subside due to the continued availability of low home loan rates,” says Harvinder Singh Sikka, MD, Sikka Group.

Mr. Harvinder Singh Sikka, MD, Sikka Group
Business World

Real estate market favorable for buyers

Mar 23, 2021 by Neel Achary 0 Comments #MD, #Mr. Harvinder Singh Sikka, #Real estate market, #Sikka Group

By Harvinder Singh Sikka, MD, Sikka Group

The end-user is in the driver’ seat while purchasing property as developers are going all-out to attract the buyers; icing on the cake for residential buyers is the low home loan interest rate

Did you know that challenging times are an opportunity for making money in real estate? This is no joke. And the icing on the cake is favourable market scenario inclined towards the buyers. It only requires structured market analysis to get your returns right and get the best deals as an end-user.

The current situation is challenging as the general perception is about economic turmoil; however, the market is flush with projects, and developers are going all-out to attract the buyers. This is a good opportunity for end-users or long-term buyers to enter the property market. Today, the end-user is in the driver’ seat while purchasing new property recently completed or is nearing completion. There are offers galore in the market where some developers are even offering to pay the interest rate on the loan till the property is ready for possession.

The time could not have been better for the buyers in the residential segment as home loan interest rates are at a 15-year low. All the banks are now offering home loans at an interest rate below 7 per cent, which has considerably brought down the EMIs. Imagine the situation a few years back when a buyer was paying an EMI of around Rs 800-900 per lakh, and now it has come down to around Rs 700 per lakh. The simple calculation is that for a property costing Rs 50 lakh a buyer will get an EMI of Rs 28000 after paying 20 per cent down payment, which was earlier between Rs 32000 and Rs 36000 per month. The EMIs for a middle-class home has come down to a level where they are lesser than the rents of a decent middle-class home in a good location.

In the residential segment, the prices are subdued for quite some time, making it even more lucrative for the buyers. Looking at the current scenario where raw material prices are going northwards, the realtors would soon have to increase the prices. The current pandemic situation has made the developers stay put with the pricing, and this gives the buyer a window that should be utilized at the earliest.

Similarly, commercial segment is extremely beneficial for the investors as market analysis puts the demand for office spaces and malls at an all-time high. Some developers have come up with innovative investment options linked to the pre-leased option. The risk factor of the investors of commercial properties comes down to zero in the case of pre-leased properties. One of the latest investment options is the fractional investment, where an option is given to own a part of the property and divide the earnings accordingly.

After the Budget announcement, where the FM has emphasized infrastructural development, the scope of buying affordable properties in peripheral areas has opened up. Many affordable housing projects are coming away from the city centres, but now with improvement in connectivity, the buyer does not have to worry about commuting. If we talk about Delhi NCR, a lot of opportunities are coming up on Yamuna Expressway, Sohna Road, Dwarka Expressway, Manesar, etc. It is not that affordable homes are always far away from the populated areas as there are lucrative options in areas such as Greater Noida West, Raj Nagar Extension, etc.

If you are buying a property in a far-flung area, please assess the location’s long-term merits. When you start your purchase, it may look like the wilderness. But if you wait for infrastructure to come, the values will not be low. So, assess the infrastructure plans of the area. Developers are normally only too happy to tell you these details. For instance, in the Delhi NCR region, the proposed metro lines are a big draw. Property along metro lines is always good to attract end-users. So, check out the proposed metro plans before you buy. Expressways and bypasses also make a difference to the property rates. If you buy today, it will be two years before you can take possession of the property. If infrastructure comes in then or soon after, your deal is safe.

If you are looking at regular returns from your property investment, it is a good idea to buy even at a marginally higher cost in areas where there are good rental returns. In the last one year, rental returns have risen by up to 15-20 per cent — 5-10 per cent in the last six months alone. If you have a transferable job and are wary of buying in one city from where you may be transferred out, remember rising rental returns are in your favour.

All in all, the real estate market is going to go up very soon, and this is the window that buyers should take advantage of.

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Business World

Return of migrant workers to kindle revival in realty

Nov 6, 2020 by Gouri Achary 0 Comments #Dhiraj Bora, #Harvinder Singh Sikka, #migrant workers, #Mr. Vikas Bhasin, #NAREDCO-UP, #Paramount Group, #realty, #SAYA Homes, #Sikka Group

Real estate sector is the backbone of the country, impacting overall GDP and the employment ratio for a great magnitude of the labour force. As the realtors strive hard for returning to the Pre-COVID levels, the impact April-June quarter had on the sector continues to get gradually subdued. One of the significant driving factors determining this revival in realty is the return of migrant workers back to metro cities.

Mr Vikas Bhashin

 

Speaking on the same Mr. Vikas Bhasin, MD, SAYA Homes said, “The exodus of labourers who went back to their hometowns and villages in the hope of saving and earning more in the adverse times of lockdown, began changing their perception as cities began to unlock and construction sites were open for providing them job opportunities. The labourers that stayed back in the cities were made to do rotational shifts and upskilling to make up for the time lost during lockdown months and ensure timely deliveries of projects.”

Delhi NCR, being the major real estate market of North India, gets migrant labourers from the nearby states of Uttar Pradesh, Haryana, Bihar, Madhya Pradesh, Jharkhand etc.

 

Mr. Harvinder Singh Sikka, MD, Sikka Group

 

Harvinder Singh Sikka, Managing Director Sikka Group said, “Many established players in the construction and real estate began rolling out facilities and incentives to attract the migrants back to the cities such as flight tickets, insurances, better living conditions etc.”

Real estate body NAREDCO-UP also signed a memorandum of understanding with the Yogi Adityanath government on May 29 to facilitate buses for return of migrant workers. The continuation of operations in the infrastructure and real estate sector provides a significant boost to the overall development scenario in a country.

 

Dhiraj

Dhiraj Bora, Head Marketing and Communication, Paramount Group said, “NCR stands with an unsold housing stock of about two lakh units, reported a recent survey. A significant portion of it remains in the under-construction categories, and the return of labourers would bring the restored glory by kickstarting the marred construction activities due to lockdown and disrupted supply chain. Sales have started picking up during the festive season, and demand for property is consistent across the verticals of RTMI homes and under-construction projects.”

Timely deliveries of projects in the coming quarters will further strengthen the positive sentiment in the realty sector and bring back buyers and investors in greater numbers than present times.

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Business World

This festival realtors welcomes buyers with offers

Oct 28, 2020 by Gouri Achary 0 Comments #Bhutani Group, #Gaurs Group, #Migsun Group, #Pacific Group, #Signature Global, #Sikka Group, #Urbainia Group

The ongoing festival season is witnessing a renewed interest by the property seekers, and this has made developers come out with welcome offers. The sales expectation is high in this season, especially in the post-COVID scenario when people have started realizing the importance of owning a real estate asset. The Navratra period went off very well for the real estate as the enquiries and sales witnessed a healthy growth. The experts are of the view that by the end of the festival season, the sector would be at par with the sales in pre-COVID times.

At Gaur World SmartStreet’s ‘Mauke pe Chauka’ makes owning a commercial property an easy affair by offering an easy payment plan with 10 per cent down payment within 30 days, 40 per cent with one year, and the rest 50 per cent at the time of delivery. Gaurs Group is also running a campaign “FESTIVAL OFFER 2020” which includes 9 gifts for Gaur Siddhartham and Gaur City (14TH Avenue & 7th Avenue).

Raheja Developers, one of the major real estate developers of North India, has come out with ‘Chance to win luxury Car & Gold Coin’ offer under which it is giving a chance to the buyer to get Hyundai i10 on the property of up to Rs 2 crore, Hyundai Venue between Rs 2.01 to Rs 4 crore, Hyundai Creta between Rs 4.01 to Rs 6 crore, Hyundai Tucson on Rs 60.1 crore onwards as well as a 5 gm gold coin till Rs 3 crore and a 10 gm gold coin above Rs 3 crore on the booking at The Delhi Mall. At The Leela Sky Villas buyers can get a luxury car or complementary hard fitting as well as Leela Gift Voucher worth Rs 50K.

Housing.com is running ‘Mega Home Utsav’ till November 14, 2020, on projects from 10 major cities of India — Ahmedabad, Bengaluru, Chennai, Delhi, Gurgaon, Hyderabad, Kolkata, Mumbai, Noida (Gr. Noida) and Pune. Hero Realty Pvt. Ltd is offering gold coin/ gold Voucher for Hero Homes Ludhiana, Sidhwan Canal Road, and home décor voucher worth Rs 2.5 lacs for Hero Homes Mohali, Sector 88.

Ajnara India Ltd is offering a 10:90 payment plan for those booking a unit at Ajnara Daffodils. In the case of Ajnara Ambrosia, the payment plan being offered by the company is 30:40:30, and in the case of Ajnara Fragrance, the payment plan is 20:20:20:20:20.

Signature Global has ‘Special Navratri offer and Assured gift’ for Signum Plaza 4, Sector 36, Gurugram, South of Gurugram, Signum-107, Signum-81, Signum-71, Signum-103, Signum- 37D, Signum -93, Signum-36, and Signum-95A. Every site visitor can spin the wheel and get the chance to win Mobile Phone, HP Laptop, Firefox Bicycle and Silver Coin. The company is offering assured 1 KG Silver on every booking at Signum Retail Hubs of Signature Global till November 14.

Migsun Group has come up with unique ‘Possession Proof Homes’ offer where they are giving assured 1 per cent penalty per month in case of delayed possession. Under this offer, the buyers need to pay 10 per cent now and rest 90 per cent on the offer of possession. The offer is for Migsun Roof (Raj Nagar Extension, Ghaziabad) where possession will be soon and Migsun Vilaasa (Greater Noida) where possession is scheduled for December 2023.

Sikka Group has an offer for its low-density project Sikka Karnam Greens, Sector 143 B, Noida. The group is offering 40-60 Payment plan – 40 per cent payment before the possession and 60 per cent at the time of possession. The group has also announced that price is all-inclusive and all other charges will be waived off.

Mahagun Group has come with exciting offers as this is company’s silver jubilee also, under the offer buyers will get a multitude of discounts in the form of 25-gram gold, pay 25 per cent now and the rest later, waiver of 25 months’ maintenance, 25 per cent of on stamp duty, and compensation of 25 per cent in case of delay in the project.

The offer is valid in projects – Manorial (Secor 128, Noida), Mahagun Mezzaria (Sector 78, Noida), Mahagun Meadows (Sector 150, Noida), Mahagun Mirabella (Sector 79, Noida), Mahagun Mywoods (Greater Noida West), Mahagun Mantra (Greater Noida West), Mahagun Montage (Crossing Republik, Ghaziabad), Mahagun Marina Wwalk (Greater Noida West).

Bhutani Group has come with a unique offer where the buyers can get the annual return in advance after making the down payment. The mega offer will work on their 50:25:25 plan and will be available on all their commercial projects in Noida — Grandthum (Sector 1, Greater Noida West), Cyberthum (Sector 140A, Noida) and Alphathum (Sector 90, Noida). The down payment is 50 per cent of the total amount, and the customer has to pay the next 25 per cent after three years.

The buyer can deduct the annual return of three years from the down payment amount or else the group will give them a cheque of three years’ annual return after the realisation of their down payment cheque. The group is expecting revenue of Rs 1000 crore during the festival season. Pacific Group, North India’s leading realtor, has come out with special Navratri offer where it is giving Rs 100 off on every per sqft at Pacific Golf Estate, Dehradun – 1, 2, 3 BHK & Penthouses.

Saya Homes at Greater Noida West project, Saya South X, is offering assured gift vouchers of Rs 10 lakh to anyone booking a shop here. The project has retail shops, food court, eatery and restaurants. The investment here starts at Rs 51.5 lakh. The project is located at the cross-section of 130 metres and 60-metre road and has 3-side open high street at Ek Murti round-about. Spread over 3 acres, the catchment area is 5 lakh families in proximity. Looking at the demand post-pandemic, we are sure that buyers will go for quality commercial projects that promise bright prospects.

Pacific Group has come up with ‘Flat Discount’ for Pacific Golf Estate, Dehradun, where the group is giving Special Navratri offer to avail Rs 100 off on every per sqft at Pacific Golf Estate, Dehradun – 1, 2, 3 BHK & Penthouses. MRG World has ‘Khareedo Dukaan, Jeeto Makaan’ offer for Gurugram’s Sector 89, 90, 93 where shops start at Rs 20 lakh.

In Urbainia Group’s ‘Special Offers & Assured Gift’ for Urbainia Trinity NX, Techzone IV, Greater Noida (West), buyers can get Amazon Gift Vouchers on every booking, investment here starts at Rs 2.80 lacs with lease guarantee available till October 30, 2020. Chandigarh-based GBP Group is incentivizing its channel partners by offering them lucrative gifts depending upon the number of units sold at its ongoing project GBP Central Town in Zirakpur.

For the sale of single unit they are offering shopping voucher worth Rs 30K, on the sale of two units shopping voucher worth Rs 30 K and Washing machine, for the sale of three units shopping voucher worth Rs 30 K, 1 gold coin & microwave, for four units shopping voucher worth Rs 30 K, 1 gold coin, Samsung LED 53” and marshal speakers, whereas on the sale of 5 units the channel partners will get shopping voucher worth Rs 30 K, 1 gold coin, Samsung LED 53”, Harman Kardon speakers and OnePlus 8 phone.

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Business World

Indian real estate sector to recover faster than expected

Sep 14, 2020 by Gouri Achary 0 Comments #Dhiraj Bora, #Harvinder Singh Sikka, #Indian real estate sector, #MD, #Paramount Group, #SAYA Homes, #Sikka Group, #Vikas Bhasin

The demand for residential property is increasing as is evident from the increasing inquiries and sales conversions over the past few months. The buyers are giving priority to housing especially the projects that have all the facilities that can keep them safer. In spite of all the darkness that sector witnessed during the lockdown, it is returning back with a bang. Besides, maximum investors got enough time to plan during the lockdown and realize the potential of real estate assets.

It is important to understand the downfall, recovery, and growth patterns of the residential segment market in the past decade. The lockdown happened just when the residential market was in demand for the two successive years and then it came to a near standstill for a few months during the lockdown. However, realtors remained in touch with the end-users after realizing the enhanced need of the people to have a property of their own. Going forward, the maximum number of end-users, as well as investors, will prefer homes that take care of the social distancing in addition to providing financial security.

End-users as well as investors are also showing readiness to pay a premium for homes that would include a wellness idea. The coming time will require constant policy support and economic stabilization so that the market remains upbeat.

Vikas Bhasin, MD, SAYA Homes, “It is good to see that customers are coming up with their queries and the demand for housing is coming in the track. Besides, to ensure the operations in a smooth manner as well as to help the customers, realtors are also coming up with various schemes and easy modes of payment methods.”

According to Harvinder Singh Sikka, Managing Director Sikka Group, “No doubt in saying that there was a financial imbalance due to national lockdown, which was necessary considering the spread of the global pandemic. But now it has been observed that there is a good query to sales conversion ratio, which is a positive sign for the sector.”

Dhiraj Bora, Head Marketing and Communication, Paramount Group said, “As per the present situation real estate sector is coming with various schemes & offers and are pushing even the fence-sitters to come forward.”