Tag: Sushma Group

Business, News

Sale of plots picking up pace, likely to breach 2020 mark sooner

Jul 26, 2021 by Rekha Nair 0 Comments #Ajnara India Ltd., #Ashok Gupta, #CMD, #Deputy MD, #Dhiraj Jain, #Director, #Executive Director, #Mahagun Group., #MRG World, #Prateek Mittal, #Sushma Group, #Vikas Garg

According to insider reports, the number of plots sold since 2019 has been declining; however, this year, the progress has been good and plots’ sale is likely to breach the 2020 figures at the end of the second half of 2021. Realty experts say that the in 2020 the sale of plots came down to 50% compared to 2019, but post pandemic the situation has improved with people coming out invest in plots from end-user perspective as well as investors.

“The market is booming, and based on the flow of people, it’s worth noting that having a plot near a financial centre can help you earn a good return. Although prices are now low, they are expected to rise as the economy recovers from a major setback caused by the COVID issue. The flow of people towards places with the best health facilities and work possibilities will increase, and these metros will become goldmines for those who have purchased plots,” says Prateek Mittal, Executive Director, Sushma Group.

Realtors feel that the increased sale of plots attests that post-pandemic people have started looking for independent pieces of land where they can spend a healthy and secure life. The plots launched by reputed developers are the first choice as they add credibility and promise a better lifestyle in gated communities. Throwing light on the trend of plotted developments, Dhiraj Jain, Director, Mahagun Group, says “Many reputable developers are now active in plotted development projects across the country, and demand has always been strong. Builder-planned communities provide the infrastructure needed to begin living and offer a good return on a patient long-term investment.”

Real estate brokers say that more than 11,000 units were launched in the first half of 2021 in top cities compared to around 16,000 in 2020. Maximum units were launched in Chennai, Bengaluru, and Hyderabad; the Delhi NCR market witnessed the launch of more than 600 units in the first half compared to around 1100 in 2019. “Plotted development investment is a time-honoured tradition in India, and COVID-19 has bolstered demand for plotted development as a long-term investment. Buyers are looking for developments like this in gated communities to expand on and utilise as separate residences. Plotted developments by well-known developers are constantly in demand, and they promise a solid return on investment. The value proposition, however, is dependent on the geography and infrastructure,” adds Ashok Gupta, CMD, Ajnara India Ltd.

Buyers have long been torn between living in an apartment or on separate floors; the dilemma is deciding between having your patio and sharing utilities with others. “However, having a yard in a metropolis is a pipe dream due to land scarcity and high prices. As a result, developers are launching a slew of plotted development projects in Metro’s outskirts; these projects prove to be rather popular, especially in the post-pandemic age, when people crave more space. Authorities plots are always safe; if a private developer is launching a planned development project, one should always choose reputable developers,” says Vikas Garg, Deputy MD, MRG World.

Business World

Sushma group to offer possession of 1114 units in FY 20-21

Dec 11, 2020 by Neel Achary 0 Comments #Executive Director of Sushma Group, #Mr. Prateek Mittal, #Sushma Group

Chandigarh, December 11, 2020: Sushma Group, has announced that it will give possession of another 812 units in its seven projects including Sushma Valencia (160 units), Sushma Capital (200 units), Sushma ZRK 1 (90 units), Atelier (120 units), Sushma Grande (80 units), Sushma Crescent (22 units), and Sushma Joynest MOH 1 (140 units). Since April 1, 2020, the group has already given possession of 302 units in Sushma Joynest MOH 1 (122 units), Sushma Grande (61 units), Sushma Atelier (121 units), and Sushma Crescent (2 units). To push these possessions, the Group has invested Rs 50 crore till date and plans to invest Rs 50 crore more this financial year; this amount excludes the investment that Sushma Group is doing for all other projects that are in various stages of construction.

While talking about the possessions and Tricity’s realty market, Mr. Prateek Mittal, Executive Director of Sushma Group said, “The occasion of house-warming brings cheers, and we are delighted to be the source of this happiness. In Tricity’s realty market, there is a lot of NRI population in neighbouring states of Punjab & Haryana. Post-Covid the scenario is likely to change further as many people have already migrated to tier-2 cities. The demand was already on the up before the coming of this pandemic, and it is likely to go further northwards. Movement of businesses and employment centres, townships with mixed developments, etc. in such tier-2 cities are the main catalysts for the growing demand for residential and commercial real estate as well.”

The possession will be for ‘Joynest MOH1’ on PR-7 Airport Ring Road in Mohali, which is spread over an area of 10.75 acres; it is the first residential project by any developer on this section of the Airport road in Mohali region. It offers a total of 13 towers with nine floors in a built-up area of 12 lakh sq. ft. MOH1 comprises of 2 and 3 BHK apartments available in respective configurations of 1080 sq. ft. to 1488 sq. ft.  Joynest MOH1 is equipped with all the amenities such as gymnasium, card room, landscaped gardens, clubhouse, meditation and yoga pavilion. An amphitheater and a party lawn are also there to fulfil the entertainment needs of its occupants.

Sushma ZRK 1 is located near Chandigarh-Delhi National Highway, Zirakpur, and has 3 BHK Apartments. Equipped with all the facilities and modern amenities, the first phase of possession will see the delivery of around 90 units.

A part of Sushma Downtown, Sushma Valencia is built entirely on Spanish theme. Spread over an area of 23 acres, the project is located on Airport Road PR-7, Zirakpur and offers 3 BHK Low-rise villa floors which are built with graceful archways, classic elevations, and fluted columns.
Sushma Grande is strategically located on Chandigarh-Delhi National Highway, and is spread over 12 acres. The premium project comprises of 3 & 4 BHK apartments.

Sushma Crescent is located in Gazipur-Zirakpur, and offers 2, 3, and 4 BHK apartments.

Apart from residential projects, Sushma Group is also giving possession of two of its commercial projects – Sushma Atelier, and Sushma Capital. Sushma Atelier, which is part of Sushma Infinium, is a commercial project and offers convertible studios located on Delhi National Highway, Zirakpur.

Sushma Capital is Zirakpur’s first European-style, low-rise galleria market established to cater to everyday needs as well as special requirements. The project will have everything from shopping marts to the multi-cuisine restaurant, Spa, and salons to entertainment places. Located at Dhakoli, Zirakpur, Sushma Capital is spread in an area of 6 acres with built up area of 3.5 lac sq. ft. the project is also equipped with ultra-modern fitness centers, exclusive clubhouses and fancy cafes and coffee houses.

The group has so far delivered 11 projects in the residential and commercial category.

Business World

Navigating the current market for a real estate purchase

Sep 11, 2020 by Gouri Achary 0 Comments #banks and housing finance companies, #Executive Director, #Prateek Mittal, #real estate purchase, #Sushma Group

Buying a home or living on rent has always been a crucial choice for many. Each option comes with its own set of pros and cons depending majorly on the financial health of the homebuyer and the property units available. While the popular thought remains rental homes being the cost-effective choice when compared to purchasing a home, a rational individual must assess the whole process before settling on a rental agreement that comes with certain appreciation annually or half-yearly.

Tenants, who wanted to upgrade their living conditions before lockdown, can think of buying a property instead of shifting to another rented accommodation. This is an ideal time as home loans are currently in their best interest rate possible. RBI has cut the repo rate by 40 bps in the wake of the ongoing crisis; this directly affects the lending interest rates of banks. Repo rate currently stands at 4% as compared to 6.25% in 2018, and close to 5.75% in June 2019. SBI, the largest lender of India is providing home loans at just 6.95% interest rate. The fence-sitters who were planning to purchase a home can also utilize this opportunity. Developers with a track record of good quality deliveries will be the best bet in these times. Many of them are open to offering deferment payment plans only up to a definite period, looking at the current market condition.

In a recent consumer sentiment survey conducted by 99acres two out of every third homebuyer is now back in the real estate market. Out of them, 33% are well adjusted to the thought that it is a good time to buy a new house while 32% are in the finalization stage.77% of the home buyers expressed their purpose of purchase as end-use whereas only 23% are willing to purchase the property for investment purposes. Additionally, ready to move in property continues to be the maximum preferred choice as 64% of the homebuyers are inclined on investing in that.

A first-time buyer can choose between banks and housing finance companies for taking loans after considering the terms, procedures, and policies. HFCs don’t have to necessarily follow the repo rate linked lending rate (RLLR) mechanism; they set their rates based on the cost of funds. Buyers looking to purchase property as early as possible for availing some of the benefits and payment deferment offered by developers must consider private banks and HFCs to be the wiser option. The process of sanctioning and disbursing of loans is easier and quicker there when compared to public sector banks. Even though public sector banks offer cheapest interest rates for home loans, but the reduced repo rate cut has significantly lowered the interest rates in private banks as well.

Eligibility to home loan also comes with certain tax benefits, in these times of uncertainty owning an asset that holds the potential of yielding better returns in future comes across as an ideal financial benefit. Thus, it is time you achieve freedom from your monthly rentals, and start putting a share of your income in an asset that will have higher capital value as time passes by.

Authored by Prateek Mittal, Executive Director, Sushma Group

Business World

Changing preferences of home buyers for healthy living

Aug 14, 2020 by Gouri Achary 0 Comments #Director- Branding & Construction, #Executive Director, #GBP Group, #healthy living, #home buyers, #Mr. Prateek Mittal, #Mr. Raman Gupta, #Sushma Group

The Coronavirus has definitely taught everyone to live and function as per the new normal. Mindsets of consumers are rapidly changing, and this trend is quite apparent in the residential segment. People living in rental accommodations, have started looking for properties that fit their budgets, and are well-maintained in terms of hygiene and cleanliness. These months of lockdown have been difficult for the tenants staying and working in their confined spaces, they have utilised this time in exploring properties on digital platforms, taken virtual tours in place of site visits to get a real-time experience.

Developers have analysed this trend of a healthy lifestyle and have shifted their interests towards creating projects that fulfil the changing needs of new-age buyers in post-Corona times. Projects like integrated townships are in huge demand, due to the facilities of commercial complexes, essential stores all located within the society premises.

Apart from this, homebuyers have received support from the government as well in terms of reduced repo rates, CLSS announcement for affordable housing; all of these measures will encourage more and more investors and buyers to put their funds in the real estate market. Developers are all set to embrace the changing needs and mind-sets of buyers and are working towards customizing their projects. Some of the reputed developers planning on introducing the ideal homes as per these trends have discussed their plans in detail-

Mr. Prateek Mittal, Executive Director, Sushma Group

Mr. Prateek Mittal, Executive Director, Sushma Group (2)

COVID 19 has made people realize the importance of living in a pollution-free and healthy environment. Now the homebuyers looking for buying a property would be wanting to invest in societies that provide healthy amenities. Some of these may include increased green cover, basement Carbon monoxide sensor, Electric Car Charging Point etc. Sports and fitness activities will also form an important part of the daily lifestyle to nurture strong immunity. Eating habits will also undergo a transformation for a healthy lifestyle, in-house farming concept to produce organically edible products will be adopted by conscious communities. Zero discharge development for controlling and processing the waste generated will be in huge demand for the betterment of the environment. Integrated townships would become the most preferred choice for many due to its convenience and accessibility to the necessities within one premise.

Mr Mohit Goel, CEO, Omaxe Limited

Mr. Mohit Goel, CEO, Omaxe Ltd.

In the post-COVID world, the preference of homebuyers will veer towards facilities in a home that address his health and safety concerns and also provide space for the office-going member of the family to conveniently work from home. Keeping in tune with the ‘new normal’, we at Omaxe have been quick in responding to this demand. In our projects in Ludhiana, New Chandigarh and Lucknow, we may soon come out with residential offerings comprising dedicated office space at home, large balconies/personal terrace, built-in sanitization and air filters, automation to name a few. We believe there is sufficient disposable income in these cities for such curated products.

Mr. Raman Gupta, Director- Branding & Construction, GBP Group

Mr Raman Gupta, Director_Branding & Construction, GBP Group

After the advent of Corona, homebuyers have prioritised cleanliness and healthy surroundings in their home- hunting. Ready to move-in homes, integrated townships and units with dedicated office space are some of the other popular residential choices in demand. Apart from all of this, some of the other contemporary amenities in demand by homebuyers include Yoga and meditation rooms for wholesome wellness. Developers have planned to keep a maintenance team in place for managing the safety and cleanliness in the premises.