Neem­rana’s realty mar­ket driven by in­dus­trial growth

The town will at­tract de­mand from its work­force and ad­di­tional man­power that is likely to mi­grate there over the next few years

HT Estates - - HTESTATES - San­thosh Kumar

is which part of the land the owner will get back from DDA. Your take… Yes, you are right. The land that the landown­ers will give to DDA will not be re­turned in the same area. It will be in some other place as well so that it’s very dif­fi­cult to say where the land will be al­lot­ted. Are you sure that home­buy­ers are at the risk of be­ing cheated of their hard earned money by in­vest­ing in th­ese so­ci­eties? They are play­ing a big fraud on the pub­lic and I am sure it will come to light sooner or later. Some de­vel­op­ers have pub­lished glossy brochures and made a lot of prom­ises to home­buy­ers that they will give a 2BHK for ₹ 50 lakh or ₹ 60 lakh etc.

Ne e mrana i s one of t he f astest grow­ing in­dus­trial cen­tres in north In­dia. This area is ad­van­ta­geously l ocated on NH- 8 in prox­im­ity to other in­dus­trial sub-mar­kets such as Bhi­wadi, Bawal, Khushkhera and Ta­pukhera. Sit­u­ated in Ra­jasthan and part of Delhi NCR, Neem­rana has at­tracted a lot of heavy in­dus­trial in­vest­ments from Ja­panese man­u­fac­tur­ing firms such as Nip­pon, Daikin, Nis­san, NYK Lo­gis­tics and Mit­sui Chem­i­cals.

Neem­rana lies along Phase-I of the Delhi-Mumbai In­dus­trial Cor­ri­dor. The Ra­jasthan State In­dus­trial De­vel­op­ment and I nv e s t m e n t C o r p o r a t i o n (RIICO) has de­vel­oped sev­eral in­dus­trial zones that have led to this sub-mar­ket’s emer­gence as a ma­jor in­dus­trial hub. The de­mand for homes from work­ers em­ployed in th­ese in­dus­tries is, there­fore, con­sid­er­able and con­stantly ris­ing. This pro­vides Neem­rana with all the at­tributes of an ideal real es­tate in­vest­ment mar­ket, of­fer­ing low en­try points and high ap­pre­ci­a­tion po­ten­tial.

De­vel­op­ers have al­ready ac­quired large land parcels in Neem­rana, while many are ac­tively seek­ing such parcels for de­vel­op­ment. Some res­i­den­tial projects by Anant Raj, Eldeco and Aashiyana have al­ready been launched. This sub-mar­ket has es­pe­cially high po­ten­tial for in­te­grated town­ship projects and af­ford­able hous­ing un­der­tak­ings.

Neem­rana will con­tinue to at­tract de­mand from the large ex­ist­ing work­force as well as ad­di­tional man­power that will mi­grate there over the course of the next f ew years. The gover nment of Ra­jasthan has al­ready no­ti­fied the 2031 Master Plan for the Shah­ja­han­pur-Neem­ranaBehror Ur­ban Com­plex.

The planned in­fras­truc­tural ini­tia­tives in this re­gion will fur­ther aid the emer­gence of this town as a ma­jor real es­tate growth node. There are plans to set up a cargo air­port, with in­dus­trial fir ms from Korea and Tai­wan show­ing keen in­ter­est in es­tab­lish­ing their man­u­fac­tur­ing f acil­i­ties in Neem­rana.

With i ndus­trial growth act­ing as a pull fac­tor for this sub-mar­ket, real es­tate de­vel­op­ment across Neem­rana’s var­i­ous seg­ments will find in­creas­ing trac­tion go­ing for­ward. The real es­tate story has just be­gun for Neem­rana.

Res­i­den­tial prices in this mar­ket are still at a nascent stage, av­er­ag­ing at ₹ 2,400–2,700 per sq ft and give ev­ery in­di­ca­tion of healthy rise in the fu­ture. This is a mar­ket that is es­pe­cially ap­peal­ing for large plot in­vest­ments, and long- term in­vestors who value the suc­cess for­mula of its unique com­bi­na­tion of growth driv­ers. The youth wing of the Con­fed­er­a­tion of Real Es­tate De­vel­op­ers’ As­so­ci­a­tions of In­dia (Credai) held its first youth confluence ti­tled You The Fu­ture in Goa re­cently. The two­day ses­sion be­gan with an ad­dress by the deputy chief min­is­ter of Goa Fran­cis D’souza, fol­lowed by the light­ing of the tra­di­tional lamp in the pres­ence of dis­tin­guished CREDAI mem­bers.

The Credai youth wing aims at pre­par­ing the next gen­er­a­tion of lead­ers and torch bear­ers in the hous­ing and the real es­tate sec­tor. The hous­ing sec­tor is the big­gest em­ployer for the econ­omy after agri­cul­ture and con­trib­utes 10% to the GDP. The youth wing fo­cuses on three ar­eas: tech­nol­ogy, re­search and CSR ac­tiv­i­ties.

The first Credai youth confluence of­fered an in­ter­ac­tive plat­form to young de­vel­op­ers to dis­cuss crit­i­cal is­sues faced by the realty sec­tor and in­no­va­tive ap­proaches to meet the chal­lenges.

At the confluence in­ter­ac­tive ses­sions were con­ducted by prom­i­nent speak­ers like Ni­ran­jan Hi­ranan­dani, co-founder and MD, Hi­ranan­dani Group; crick­eter Anil Kumble and cy­ber­tect James Law.

Speak­ing on the oc­ca­sion, Amardeep Singh Hira, chair­man, Credai youth wing said, “Youth are the fu­ture of to­mor­row. The mo­tive be­hind hold­ing the Credai youth wing is to en­cour­age the sec­ond gen­er­a­tion of de­vel­op­ers, en­able them to take up the re­spon­si­bil­ity as fu­ture lead­ers and help bring­ing a change in the realty in­dus­try”

It is the first step to bring to­gether the best of young de­vel­op­ers from across the coun­try and cre­ate the next gen­er­a­tion of lead­er­ship for Credai, he said.

Lalit Kumar Jain, chair­man, Credai Na­tional, said, “Credai has al­ways been the guid­ing force for the grow­ing real es­tate sec­tor and the Credai Youth Wing is an ini­tia­tive to bring to­gether the younger gen­er­a­tion of real es­tate builders and de­vel­op­ers and take for­ward the lead­er­ship man­tle of their business in an ef­fi­cient, ef­fec­tive and so­cially en­gaged man­ner.”

FILE PHOTO

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