A guide to green homes
From Timarpur to CR Park, we take a look at some predominantly Bengali neighbourhoods in the city To identify a genuine green project you must ensure it has an accreditation from a rating system
There is increased buoyancy in the market after the arrival of the new government. This is especially after the budget set the ball rolling for the real estate sector. With allocation of more funds for affordable housing, easing of FDI norms, implementation of REITs and the special focus on infrastructure development, the government has made it clear that in order to push economic growth, a special focus on infrastructure and real estate development is pivotal. In the foreseeable future, the real estate market in Delhi NCR is going to see considerable forward momentum.
As land is a prerequisite for any kind of development, Noida and Gurgaon are the logical answers to the burgeoning need for housing in Delhi NCR. In terms of inventory, Noida and Gurgaon have more options than any other city in the NCR. These two areas are consequently expanding and growing, and needless to say, expansion opens opportunities for further growth in real estate. It is for this reason that these two cities have now got mature real estate markets for different sets of buyers and investors.
However, these two regions are markedly different in terms of the potential for returns. In the last few years, compared to Noida, investments in Gurgaon have yielded better returns. However, Noida is not lagging very far either. Various recent announcements and the infrastructure uplifts of the city have made Noida’s real estate market increasingly attractive.
The l ower pricing f actor is the biggest draw for most investors entering Noida. Today, (compared to the last few years) Noida promises better appreciation and returns on real estate investments. The realty market in Gurgaon is now ideal for the premium segment. There is a flip side to Gurgaon -- properties there are not likely to fetch high rates of appreciation.
With the fast- paced infrastructure development in Noida and areas close by, real estate growth has truly picked up over the past few years. There have been announcements for many new projects as well, which has had a positive effect on the real estate market.
The extension of the DwarkaNoida City Centre t o Pari Chowk line will give direct connectivity to Delhi and other NCR areas. The Noida Metro Rail Corporation (NMRC) has got the required approvals for the 29- kilometre- long NoidaGreater Noida Metro link from the state government, as well. Simultaneously, the Greater Noida Industrial Development Authority (GNIDA) has plans to set up its own power plant, which will provide uninterrupt- ed power supply to the region.
Though Noida is known for its affordable housing projects, there are numerous luxury projects also in the pipeline. These projects will span both Noida and its adjoining areas. Developers l i ke Supertech Ltd, 3C Company, Prateek Group, Lotus Greens and Wave Infratech have launched superluxury projects with three to five BHK apartments of 2000 to 4000 sq ft. and priced in the range of ₹ 1 crore to ₹ 3 crore in the area.
With good infrastructure, metro connectivity and good road network, real estate development in the Noida region is picking up rapidly. This is important, since infrastructure development is the primary draw for buyers and investors. Upcoming major projects like the Export Promotion Zones and Taj Economic Zone along the Yamuna Expressway are likely to push the economic development of this region. Needless to
The Bengalis in Delhi are not the same as their brethren in Kolkata. These are words of wisdom from a pandal- hopping Bengali in the Capital. In a sense, the Bengalis in Delhi have carved their own niche and created their own identity. While the first wave of Bengalis came to Delhi in the late 1800s in search of more opportunities once the railway line was laid, the second wave came in as refugees of the Partition. Here’s a look at the history and the real estate market in two of the tradition- say this will have a ripple effect on the real estate development.
In fact, the positive response from buyers and investors in Noida has now made it the preferred destination for launching new projects and expediting existing ones. All in all, Noida is beginning to emerge as one of the brightest stars in Delhi NCR real estate. ally Bengali neighbourhoods in the city.
Located in north Delhi near the University of Delhi, Timarpur started out as a private colony for government service employees. This was where Bengalis employed in the post and telegraph departments and other gover nment bodies moved when the Capital was shifted from Kolkata to Delhi in 1911. The old secretariat, viceroy’s office, etc were in the vicinity and hence this was a convenient place of residence for Bengalis i n t he gover nment sector. Anand Sengupta, a corporate professional, and a long-time
The tremendous rate of real estate development across the globe, especially in young, emerging nations, is imposing immense pressure on the environment and its natural resources. With rapid development, there is a lot at stake when we look at important factors such as energy availability and environmental sustainability.
The real estate sector is one of the major contributors to global warming due to the extensive pollution during the construction process as well as emission of greenhouse gases during the lifecycle of the resultant buildings. On an average, buildings consume about 20% of the total energy available in a country, and this trend is increasing with every passing day.
Mounting concern for the environmental impact of real estate has necessitated the for mulation of sustainable solutions. This has led to the advent of the sustainable real estate and related ‘green homes’ concepts. At its basis, sustainable real estate is all about using resources sustainably and addressing the demands of the present without compromising the ability of future generations to meet their own needs.
Green housing or eco-friendly homes are an integrated approach towards minimising the adverse effects of construction and its operation on the environment and promoting healthier living for people.
It has been extensively documented that living in conventional buildings has been working against residents, both in terms of living standards and the costs of excessive energy consumption. The first and foremost constraint for the proliferation of green buildings in India is the lack of information and incorrect perceptions. It is generally believed that green buildings cost more and take a long time to pay back in tangible energy savings. Such a perception leads to lower demand levels from the larger buyer base. In fact, the additional cost factor is rapidly reducing as more and more developers get into the ‘green homes’ arena, since there is increased competition. Also, green homes result in significantly reduced utilities bills right from the start.
Also, many developers are deterred from adopting the ‘green mantra’ in their projects because green buildings may involve increased construction costs. They may also find it challenging to obtain the necessary technologies, source green building materials and find appropriately qualified architects. The overall benefits of green buildings depend on the extent to which sustainable features are included during the initial planning and design. In some cases, such features can also be incorporated after the building is complete. A few green features do not qualify a building as environmentally sustainable.
To ensure that a genuinely ‘green’ residential project is not mistaken for one of the many wannabes, it is important for their developer to obtain accreditation from the green rating systems followed in India. GRIHA ( Green Rating for Integrated Habitat Assessment) is one such system which verifies all that a building has adhered to on the prescribed parameters, and that the materials and processes have been used at every stage of construction. Once all the requirements are met, the project is credited as a green building’.
Clockwise from left: Durga puja at Timarpur by the Timarpur and Civil Lines Durga Puja Samiti; a pandal at Chittaranjan Park; Bhog khichuri being served at the Delhi Durga Puja Samiti, Civil Lines