Tag: Sunworld Group

Business, News

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, News

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.

Business, News

Realty market remain stable in Noida

Jun 28, 2021 by Rekha Nair 0 Comments #Ajnara India Ltd., #Ashok Gupta, #CEO, #CMD, #Dhiraj Jain, #Director, #Mahagun Group., #MD, #Migsun Group, #Sunworld Group, #Vijay Verma, #Yash Miglani

The market in Noida has been doing extremely well since Unlock 1.0, and it picked up pace in January-March 2021. However, the second wave brought a halt in activities for a shorter duration but the sales figures are encouraging as there is an increase in sales compared to the same period last year.

“The good thing is that the second wave has further cemented the people’s resolution to look for real estate assets. People are now seeking long-term financial security in real estate, which bodes well for the sales season. We expect that the real estate sector will pick up in two or three weeks from where it left after the first wave effects,” says Yash Miglani, MD, Migsun Group.

According to real estate experts, Greater Noida West, Sector 150, and Sector 43 in Noida, both near the commercial hub of Sector 137, remained popular for 2 BHK and 3 BHK flats. One of the key drivers in Greater Noida West was the availability of home units priced between Rs 35 and Rs 50 lakh. In Noida’s Sector 150 and 43, direct connection to the projected Jewar Airport and projects by well-known builders are seen as demand stimulators.

“Noida’s well-developed road network allows for speedier commuting, resulting in increased interest in the real estate market. Many homes will appreciate by 10% to 15% depending on their location and demand in that area. Once the Jewar airport is operational, the Yamuna Expressway will be a more popular destination than Noida,” says Ashok Gupta, CMD, Ajnara India Ltd.

The residential market in Noida and Greater Noida is continuing to grow. According to the realtors, Residential sales grew QoQ as a result of low home loan interest rates, new housing supply, and people’s persistent desire to purchase a home. Dhiraj Jain, Director, Mahagun Group, says, “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. Noida’s prosperity is due to the image it has developed among the middle class. In the following months, we expect a tremendous response in the residential market since the momentum is unlikely to wane.”

The upcoming infrastructural developments are expected to stimulate the real estate market even further. Multi-level parking lots in Sector 3 and Sector 16A Filmcity, Shaheed Bhagat Singh Park, Biodiversity Park, a shooting range, and an indoor stadium in Sector 21A are among the infrastructure projects set to be completed this year. Then work on underpasses is underway on the combat front in various Noida sectors to improve traffic flow. The projects aim to improve inhabitants’ living conditions, which will directly influence the real estate market.

Buyers are increasingly lured to plots along the Noida-Greater Noida Expressway and the Yamuna Expressway, with the latter gaining traction due to the planned Film City and Furniture Park. The price of residential plots along the Yamuna Expressway has jumped by 10-15%. Vijay Verma, CEO, Sunworld Group says, “The regions are popular among end-users, particularly among the working class, and sales have been fantastic. Infrastructural upgrades, such as metro, road connectivity, and announcements like Jewar Airport, are also supporting the development.”

Business World

Microsoft, Adani buying lands in Noida, good news for realty market

May 3, 2021 by Neel Achary 0 Comments #CEO, #Sunworld Group, #Vijay Verma

Noida has transformed and is now competing with the neighbouring NCR towns. Following the announcements of Jewar Airport and Film City, the city is now prepared to welcome companies such as Adani Enterprises and Microsoft. To encourage private investment, the Greater Noida, Yamuna, and Noida Authority has been coming up with schemes to allot industrial and institutional plots to companies.

Recently, the Noida Authority allocated industrial land to 13 firms, including Adani Enterprises; these companies have been given land plots in Sectors 80, 145, 140A, and 151. Adani Enterprises has been given 39,146 square meters of land in Sector 80 for a planned data center. The Noida authority has also given a 60,000 square meter institutional plot to Microsoft India (R&D) pvt ltd.

“Investment by these giants in Noida would aid the development of the NCR as a tech center. It will also generate employment and attract other businesses to invest in the region. The market earns some brownie points due to the excitement that surrounds a major corporate announcement,” says Harvinder Singh Sikka, MD, Sikka Group.

Realtors say that the positive impact will not be limited to the Noida real estate market. “If a large corporation purchases a property, a commercial establishment may emerge, resulting in the creation of jobs and other benefits. Such developments also lead to more real estate projects in the surrounding areas,” says Dhiraj Jain, Director, Mahagun Group.

“Historically speaking, infrastructural developments in Noida have been having a positive impact on Ghaziabad too. For example, dividends from NH 24 are being enjoyed by both cities, Noida’s commercial sectors lead to people buying properties across the road in Ghaziabad, etc. The movement of Big corporate bring along many benefits, and one such is the capital appreciation in the properties that fall within few kilometres of it,” says Ashok Gupta, CMD, Ajnara India Ltd.

Nearby residential sectors will also witness a huge appreciation in the short term; the demand for quality residences around Sectors 80, 145, 140A, and 151 will go up manifold. “The new developments would have a direct impact on the surrounding areas. Investors in the residential and industrial sectors would be pleased. In reality, in the not-too-distant future, the area will see the growth of the hospitality segment to meet the needs of visitors,” says Vijay Verma, CEO, Sunworld Group.

Investors who profit from property appreciation over time are more likely to dominate the market around these sectors. “People who have a preference for second/third homes would invest in residential. With the completion of infrastructure and the movement of employment-generating vehicles, the residential sector will soon hit its apex. Many businesses could relocate to Noida to take advantage of lower-cost space and improved connectivity. The Yamuna Expressway is developing, and it will eventually become a sub-city with townships and corporate hubs,” adds Dhiraj Bora, Head Marketing & Communication, Paramount Group.

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.

News

The Grand Arista residents celebrate Independence Day with vigour

Aug 17, 2020 by Gouri Achary 0 Comments #Dr. Rahul Chaudhary, #Noida, #Promoter, #Sector 168, #Sunworld Group, #The Grand Arista

Noida, August 17, 2020: The Grand Arista, Sector 168, Noida has been known to celebrate each occasion with loads of enthusiasm and festive zest. The residents in a similar fashion participated joyously in the Independence Day celebrations arranged by the Sunworld Group. The event was conducted with complete safety and precautionary measures, abiding by the social distancing. Residents hoisted the National Flag amid the patriotic music and dance performances.

Corona safety guidelines were announced as a mandatory requisite and the efforts of residents in maintaining cleanliness and hygiene were also appreciated. Sunworld Group has always been encouraging to conduct such society events as they are a symbol of unity in diversity, and in case of 15th August, it also upholds nationalistic sentiment. Moreover, such events also help the members in socializing. An important day like our Independence Day gets participation from all age groups making it delightful for all the residing families.

Dr. Rahul Chaudhary, Promoter, Sunworld Group present in the event said, “We try our best in organizing such events, it not only energizes the residents but also make the atmosphere peaceful and pleasant. The support from our residents drives us to do something better every year. Even in the times of a pandemic, we did not give up on their enthusiastic spirits and went ahead with our celebration with due precautions.”

Business World

Transformation of site visits as developers uphold safety: Interview with Dr. Rahul Chaudhary, Promoter, Sunworld Group

Aug 10, 2020 by Gouri Achary 0 Comments #COVID, #Dr. Rahul Chaudhary, #Promoter, #Sunworld Group, #virtual tours and drone- view

1. How are site visits going to be different in the post COVID era from in the pre-COVID period?

The site visits have always been an essential part of the property purchase process. It was during these site visits that developers and buyers connected on a personal level, and get a better understanding of each other. Buyers were normally doing 3-4 site visits in a day if the properties were located close to each other. Developers were also able to arrange multiple site visits in a day, especially on holidays and Sundays. The pattern will undergo a lot of change after COVID as every aspect of business turns digital. Scheduled sites only for genuine homebuyers will be encouraged if government authorities grant permission for the same. Otherwise reputed developers have already set in place virtual tours and drone- view of their projects for giving complete discretion of location to the buyers. The entire construction site will be monitored in terms of workers density, cleanliness and hygiene, in case buyers happen to visit personally.

2. How feasible are site visits considering the safety concerns for employees as well as customers?

Right now it is best if buyers choose to opt for digital site tours, as the COVID cases are rising at an alarming rate. As a developer, we would never want to put our potential and existing customer’s safety in danger. With the market being uncertain, our employees are occupied revising their yearly plans via WFH, and if the buyers insist on visiting sites personally, it will need a lot of preparation from our end. The workers allotted on these sites have to be trained accordingly for maintaining distancing, an employee will have to accompany the potential buyers for ensuring everything is in place.

3. Do you think home buyers are ready for this changed way of site visits? What advice would you give to prospective home buyers about visiting property sites?

The increased number of digital queries during this lockdown has shown us a clear indication that homebuyers are more than ready to accept this pattern. Our advice to them would be to seek addresses for their doubts and demands that are related to our properties to keep the communication going. We can mention only limited information on these sites, and a buyer when investing for properties has many questions. We do not want that this distancing reduces our connect with the potential buyers, our ORM team is equipped and trained to solve their queries and provide the quick address of their concerns.

4. What measures have you taken on your sites to ensure safety?

We have trained our workers appropriately, a site manager ensures safety guidelines are being followed throughout. Use of Sanitizers is encouraged at intervals, disinfection of sites is carried out regularly. Temperature screening on entrances, limited workers on site, and a medical officer is kept at the beck and call for any emergency.

5. Do you think these restrictions or changed ways of site visits will hamper or dampen buyer interest?

The interest will not be hampered but it might prolong the process of booking the unit, as property-buying followed very much a traditional route in our country before COVID. Virtual tours have given them an outlook of the property on their screens, but a good number of buyers still believe personal visit as the final step before entering into a legal agreement. NRI’s however have always taken the digital route for property investment, so no change has been observed from their ends.