The Next Big Destination For Real Estate In NCR - Faridabad

Faridabad is today recognized and widely accepted as the next big destination for real estate development in NCR. It boasts of an extremely modern and accessibility focused infrastructure development in the form of expressways and highways, Metro Rail, Regional Rapid Transit System etc. that shall not only improve intra-city travel but also allow access from nearby cities like the IT hubs of Gurgaon and Noida, manufacturing units of Manesar and HNIs from South Delhi; besides its own industrial units. The Government’s role in facilitating development is well documented.

Faridabad enjoys the advantages of location and affordability. Located at a convenient distance from Delhi, Noida/Greater Noida and Gurgaon, Faridabad has several connectivity proposals that, in the coming times, will help in the growth of the city; with skyscrapers, world-class malls, offices spaces and entertainment zones. Corporate, retailers, banks etc are also eying this region. The Kundli-Manesar-Palwal (KMP) expressway, Faridabad-Noida-Ghaziabad (FNG) Expressway, the operational Gurgaon-Faridabad expressway, widening of NH-2, Metro Rail to Delhi, IMT have thrown open immense opportunity for residential and commercial real estate development in the region.

Omaxe is contributing to the growth of region by developing quality affordable projects with beautiful landscapes and world-class amenities. Besides the already inhabited Omaxe Heights, Omaxe New Heights, Omaxe Spa Village and Omaxe Hills; the luxurious apartments and penthouse The Forest Spa will soon welcome residents.  The recently launched mixed land use development Omaxe City Centre in the Commercial Business District in Sector 79 will have offerings like SCOs, apartments (Royal Residency) and retail shops (Royal Street). Aesthetical elegance through design, elevation and landscaping, reminiscent of destinations like London, New York, Johannesburg, Buenos Aires, Singapore and Melbourne will be recreated to maintain the charm. Underground Palika Bazar, Office Spaces, Service Apartments, Hypermarket, Hotel and Restaurant and Family Entertainment Centre and Club will complement the smart facilities in the project. The vision is to create a design where homeowners would feel truly connected; One where you would look outside and immediately feel the purity and energy of the green surrounding, where you and your home would be one.

OMAXE ETERNITY VRINDAVAN

One of the most sacred places of Hindus with millions of tourist visiting the city every day, Vrindavan’s prominence and importance has grown multi-fold in the last few years. With growing business and job opportunities, the temple city continues to drive demand for homes. Over and above all this is the desire of every family to own a home in the city as a permanent abode amongst the Lords. It's not just the natives, even tourists visiting the cities of Mathura and Vrindavan are looking at these cities from the view of investing in real estate here. The city has an excellent connectivity through NH-2. With Yamuna Expressway becoming operation, the area has become both a weekend destination and has seen frequent visits by religious aficionado. People residing in Noida, Greater Noida, Ghaziabad etc have it easy now with Yamuna Expressway. Mathura and Agra are another tourist destination in the vicinity. Real estate industry here is expected to grow at a good rate in the next four to five years. It is said that the satellite towns near these cities can come up in coming times with inflow of public into these cities.

Omaxe Eternity in Vrindavan is a beautifully crafted and landscaped integrated township on Chatikkra Road. Spread across approx. 95 acres, the township is aptly named as the feeling of unending serenity engulfs you inside the complex. With a state-of-the-art club “Krishna Retreat”, a temple, musical fountain, gated entry with 24hr security, large open and green space, wide roads and quality homes etc. make Omaxe Eternity a perfect confluence of modern and spiritual living. Features that makeOmaxe Eternity an attractive destination include a large Temple Complex, Dharamshala, Yoga / Meditation Centre, local shopping area, provision for schools within the complex, Kids Park and play area, re-creational centre, commercial facility, etc. Breathtaking green landscape and stylish apartments replete with modern-day comforts will add to the viability of this contemporary township that brings together the best design and planning.  Phase I of the project comprising 1 room studio and 1BHK apartments are complete with more than 100 families residing in the township and relishing the benefits and facilities of the township. Construction on 2BHK apartments is progressing briskly. The township also has provisions for more apartments (Krishna Castle), commercial space and hotel suites (Krishna Crest) and coming soon are cottage plots “Krishna Raass”.

Omaxe Eternity is situated close to the iconic ISKCON Temple, BankeBihari Temple and AkshayPatra with shuttle service from the township.

Mr. Mohit Goel, CEO OMAXE talks about the upcoming hospitality sector in India on NDTV Prime.

New Chandigarh coming up as the state’s first self-sustained Smart City

New Chandigarh is coming up as the state’s first self-sustained intelligent Smart City equipped with hi-tech facilities and having low carbon emission. Wiser after the experience of Mohali and Panchkula, the Punjab Government is aiming to develop New Chandigarh as a self-contained city, well planned with better amenities in education, healthcare, residential housing and commercial development and not just a satellite town of Chandigarh. The city is being developed on an area of 15,000 acres on the lines of a smart city.

The plotted residential development under GMADA, Ecocity is the upcoming ultra-modern Township in New Chandigarh. Huge residential and infrastructure projects by leading real estate developers like Omaxe and DLF are also coming up with various options of residential living like plots, floors, bungalows, villas etc. as well as office and retail spaces. A world-class cricket stadium by the Punjab Cricket Association (PCA) is also in the pipeline. Metro rail connectivity along with a 300 acre Medi city and 1700 acre Education City have also been proposed. Sites for these projects have been identified in the Master Plan for New Chandigarh prepared recently.
 

In fact, the foundation for a Cancer Hospital has already been laid.
The Government plans to develop the areas as a knowledge village with service oriented businessesin the IT/ITES sector, training centres, science park and higher education institutions in order to attract knowledge workers and provide more job opportunities in the area and make it more eco-friendly. The city’s beautification needs are being especially looked into with golf courses, lakes, waterfronts being developed and brick kilns and waste lands being removed.

- Mr Mohit Goel, CEO Omaxe

Proposed 20 lakh homes by DDA will ease demand in Delhi

The Delhi Development Authority (DDA) has un-leased a housing bonanza in the capital giving a ray of hope to the LIG/MIG segments by contemplating the development of 20 lakh residential units equipped with the latest infrastructural facilities on the outskirts of the Capital on about 24,000 hectares of land. According to the Master Plan of Delhi (MPD) 2021, the Capital has about 27,000 hectares which can be developed as sub-cities. The master plan estimates a requirement of nearly 24 lakh residential units for an estimated 23 million people by 2021.

 

DDA’s step to develop residential units on the outskirts of the Capital will give a much needed boost to the realty sector in Delhi, which has been devoid of supply especially in the affordable to middle income segment. With ever increasing population in Delhi due to job opportunities available here, the demand for world-class infrastructure and housing has been on the rise and a sharper rise in prices, too, have been witnessed. This step by DDA will help in easing out the ever increasing demand of homes and provide enough opportunity for developers to operate in the Capital.

A lot of the success of DDA’s initiative will be dependent on how effectively the housing authority and the Ministry of Urban Development plan and manage the ambitious land pooling policy by creating housing pockets in the city. It will also enable private players to assist in creating housing pockets in the capital.The DDA must have learnt its lessons from the acquisition policy adopted in the Delhi Master Plan 1961 which has failed to keep pace with the rapid pace of urbanization witnessed in Delhi. The land pooling policy proposed in the new master plan, if implemented effectively with the help of professional consultants will play a key role in filling the huge gap of residential requirements. Reports suggest that for each 1,000 Ha of the pooled land, the government will be able to provide around 50,000 dwelling units for the EWS sections which will go a long way towards fulfilling the housing needs in our country. It will also give an impetus to realty development in the Capital like Noida, Gurgaon etc in the NCR.

- Mr Mohit Goel, CEO Omaxe

Omaxe @28: Striving To Work Towards Housing For All

At the outset, I would like to congratulate all stakeholders of Omaxe for having stood through thick and thin and taken Omaxe to the height of glory where it is today. The vision of our CMD Mr. Rohtas Goel coupled with hard work and perseverance of one and all led to the emergence of Omaxe as a reliable and trusted name in the real estate sector.

The company has taken huge strides in the last 27 years. Filled with challenges and opportunities, we have faced every wrath with a confident stride; celebrated every victory and enjoyed the success of each one of us as if it were our own. 

Omaxe has all the earmarks of a trendsetter in the real estate industry. Every innovation, venture and strategy has been well thought out. Be it the strategic move to venture into tier II and III cities in latter half of last decade and creating and delivering lifestyle akin to metro cities. Omaxe has earned every bit of trust and respect that is witnessed today. We have delivered area more than the size of a few countries in the world; we cater to roughly 35% of India’s population in the 9 States that we operate in.

However, these are milestones that we feel proud of. But we have never allowed complacency to set in, striving each day to work towards the larger goal of providing housing to all.

Today, we are at an extremely exciting time. The Narendra Modi led Government has begun to show how good intentions and focused approach can result in fruitful action. His vision for India that we all have dreamt of seems very close to reality now. Focus on cleanliness, sanitation and hygiene; besides creation of smart cities and thrust on manufacturing and infrastructure has opened up lot of avenues for us to partner the Government. Blending social cause with business excellence in the regions of our strength is the way forward. 

- Mr Mohit Goel, CEO Omaxe

REIT in India: Is it the right time?

Good news for the cash-strapped real estate and infrastructure industry. The capital market regulator Securities and Exchange Board of India (Sebi) has just approved the final guideline for real estate investment trusts (REIT) and infrastructure investment trusts (InvIT).

The twin move will give the real estate and the infrastructure sector easier access to funds and create new options for investors to invest. SEBI’s approval for setting up of REITs is a timely move for the real estate sector as REITs have globally proved to be an efficient way of raising capital for the sector and providing an easy exit route to investors, also they can be well accepted by investors and provide better returns than other asset class.

In simple terms, REITs will channelize investments from wealthy individuals and institutions to the real estate sector through units sold by REITs. Like mutual funds collecting money from investors and investing in company shares and other financial instruments, REITs will invest money in the real estate industry. Experts believe that $10-$15 billion worth of investment will be infused into the real estate industry through REITs in a couple of years.

Political stability and the recent policy related initiatives have encouraged global investors who refrained before from entering the Indian market due to political, policy, governance and infrastructure-related issues to look towards India again for business activities. Therefore, it is indeed the right time to introduce REIT in Indian market as it will shore up liquidity in the sector and emerge as an alternate to bank finance. 

- Mr Mohit Goel, CEO Omaxe