On the Metro track to de­vel­op­ment

HT Estates - - HTESTATES -

high re­cov­ery and re­ceipts of rev­enue, salaries paid to staff on time, ad­e­quate num­ber of toi­lets in the city, online griev­ance fa­cil­ity and a mo­bile app to pay taxes online. “We are cur­rently in the process of draw­ing up a city san­i­ta­tion plan that will in­clude aug­men­ta­tions of public toi­lets, waste man­age­ment that will in­clude door to door col­lec­tion of waste and trans­porta­tion of waste. Un­der the smart city plan we also hope to aug­ment drainage sys­tems, drink­ing wa­ter sup­ply, cre­ate more foot­paths and cy­cle tracks.”

Navdee p Chawla, pres­i­dent, Farid­abad I ndus­try As­so­ci­a­tion ( FIA) says that once there is clear and clean con­nec­tiv­ity by road af­ter widen­ing of the NH2, the city will be “able to pro­cure bet­ter tal­ent from Delhi due to im­prove­ment in con­nec­tiv­ity.”

Adding to Farid­abad’s at­trac­tion as a busi­ness hub, land was al­lot­ted in its In­dus­trial Model Town­ship (IMT) to Banaskan­tha Dis­trict Co- op­er­a­tive Milk Pro­duc­ers for their ex­pan­sion pro­ject to sup­ply milk and pre­pare milk prod­ucts mar­keted un­der the Amul brand. Another plot mea­sur­ing two acres has been al­lot­ted to Balmer Lawrie and Co Ltd, a gov­ern­ment of In­dia en­ter­prise un­der the min­istry of petroleum and nat­u­ral gas for set­ting up of multi-com­mod­ity tem­per­a­ture con­trolled ware­house. Haryana has also agreed to a pro­posal by Noida Au­thor­ity to build two new bridges on the Ya­muna river that will con­nect Noida and Farid­abad to ease traf­fic as well as travel time.

Real es­tate ex­perts are of the view that the mar­ket will start look­ing up once road con­nec­tiv­ity and cor­po­rate ac­tiv­ity im­proves. Right now, in­dus­trial plots on both sides of NH2 have been taken up by au­to­mo­bile show­rooms and work­shops such as Nissan, Toy­ota, Volk­swa­gen, Toy­ota, Chevro­let etc. These road-fac­ing prop­er­ties, ac­cord­ing to Anckur Sri­vast­tava of GenReal Ad­vis­ers, are equiv­a­lent to Grade A of­fice spa­ces, and com­mand t he high­est rents. First and fore­most, any de­lay in con­struc­tion is on you, so make sure you do not agree on a full down pay­ment of­fer in ex­change for a dis­count in price. No amount of dis­count can jus­tify the ad­di­tional risk that you take on this ac­count. It is al­ways ad­vis­able to go for a con­struc­tion-linked plan for a prop­erty so as to en­sure that your ex­po­sure is pro­por­tion­ate to the stage of com­ple­tion of the prop­erty. Se­condly, for most in­ter­est sub­ven­tion schemes in the mar­ket, the buyer does not pay any EMI dur­ing the con­struc­tion stage of the prop­erty for the first two years of the loan pe­riod. The pre-EMI in­ter­est for the first two years will be paid by the builder/

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