Piramal Realty

Thane's real estate market is drawing attention of rich investors. The main reason for investors to choose Thane over Mumbai is that the builders increased prices to exorbitant levels. This increased prices in Mumbai paved way for investment in Thane.  

Haryana’s Department of Town and Country Planning has cancelled licences of over 31 ongoing projects, both commercial and residential. According to the DTCP, it is yet to recover dues worth over Rs 200 crore as external development charges from these projects. Of the defaulting projects, 14 are in Gurgaon, five in Sonipat, three in Faridabad and three in Palwal. Meanwhile, the DTCP has also formed a three-member committee that will look into applications received under the Deen Dayal Jan Awas Yojana.

National Building Construction Company (NBCC) is now planning to buy insolvency-hit Jaypee Infratech, a move that would help the public company to acquire land parcels in tony localities, Taj Expressway and Japyee Hospitals. NBCC will be competing with other construction majors, including L&T, Suraksha Asset Restructuring Company, Kotak group and ICUBE, which have shown interest in buying Jaypee Infratech, the sister concern of Jaiprakash Associates Limited (JAL). This is the second time process is on to acquire the insolvency-hit realtor.

With the rupee witnessing a major fall against the dollar in recent months, it is an opportune time for NRIs to buy property in India. The depreciating currency value is benefitting NRI investors significantly as investors get more square feet of space for the same amount in the foreign currency. NRIs can also leverage the power of their additional income by investing in properties because prices have corrected over the past few years. This is prompting a large number of NRIs to invest in India’s realty market.

Prime Minister Narendra Modi will be inaugurating the 83-km-long Kundli-Manesar section of the Western Peripheral Expressway on November 19. The expressway will offer signal-free connectivity to Palwal from Sonepat, bypassing Delhi while also diverting as many as 50,000 heavy vehicles away from Delhi. Once completed, the entire peripheral expressway would form a ring road around Delhi, spanning a total length of 270 kilometres. Locations such as Gurgaon, Manesar, Ghaziabad, Greater Noida, Palwal, Kundli and Sonepat are likely to witness sizeable real estate growth with the help of the expressway.