Step­ping up to its chal­lenges

The Delhi NCR Re­alty mar­ket has lots of chal­lenges to deal with and lots of po­ten­tial as well to tackle these chal­lenges and come out as the win­ner as per Parveen Jain, chair­man & man­ag­ing Di­rec­tor, tulip in­frat­ech Pvt ltd.

Realty Plus - - Contents -

the metro rail net­work con­nect­ing Delhi, gu­ru­gram, farid­abad, Noida is get­ting fur­ther ex­panded. the ma­jor ar­te­rial roads like KMP (Kundli Mane­sar Pal­wal) ex­press­way, North­ern & south­ern pe­riph­eral roads, na­tional high­ways, ex­pan­sion of metro net­work too is go­ing to give a boost to the real-es­tate around these ar­eas.

The big­gest chal­lenge fac­ing the Delhi NCR re­alty mar­ket is the in­flux of the mil­lions pour­ing in from other states in search of jobs and look­ing to in­habit Delhi NCR per­ma­nently. delhi NCR’S ma­jor of­fice busi­ness, res­i­den­tial hubs and im­por­tant lo­ca­tions have al­ready reached their sat­u­ra­tion points and to cope up with the ris­ing masses, new av­enues have to be cre­ated for hous­ing, roads and trans­port sys­tems and up­grad­ing the req­ui­site in­fra­struc­ture.

af­ford­able hous­ing

The ‘In­fra­struc­ture sta­tus’ to the af­ford­able hous­ing sec­tor brings a lot of as­so­ci­ated ad­van­tages and the pri­vate sec­tor’s in­ter­est has rekin­dled in af­ford­able hous­ing as the de­mand for af­ford­able hous­ing is in­creas­ing man­i­fold ev­ery year. How­ever, the high cost of land is the de­ter­rent in con­struct­ing low cost hous­ing. The PPP (Pub­lic Pri­vate Part­ner­ship) model wherein the land is pro­vided by the govern­ment for af­ford­able hous­ing is the right so­lu­tion in the di­rec­tion of minimizing land, fi­nan­cial and cap­i­tal in­vest­ments risks.

in­fra­struc­ture

The most im­por­tant chal­lenge for any area de­vel­op­ment to take place is the pro­vi­sion of req­ui­site in­fra­struc­ture in terms of easy ac­ces­si­bil­ity via con­ges­tion free road & metro net­work, proper drainage and sew­er­age sys­tem, wa­ter sup­ply sys­tem, elec­tric­ity, proper garbage dis­posal sys­tem, pro­vi­sion of pol­lu­tion free green en­vi­ron­ment, land­scap­ing etc. Delhi NCR is fac­ing tough chal­lenges re­gard­ing these mat­ters but has great po­ten­tial to smoothly trans­form ob­sta­cles in these into great op­por­tu­ni­ties to show­case these cities as world class smart cities. The con­struc­tion of KMP ( Kundli Mane­sar Pal­wal) ex­press­way has been go­ing on for years but has still not been com­pleted due to many ob­sta­cles and bot­tle­necks. Con­trast­ingly, the South­ern Pe­riph­eral Road (SPR) is on the verge of com­ple­tion and the ar­eas around the SPR have be­come hot spot be­cause of its im­por­tant route South­ern Pe­riph­eral road cou­pled with the North­ern pe­riph­eral road shall act like a ring road on the outer pe­riph­ery of Gu­ru­gram eas­ing out the pre­vail­ing traf­fic snarls in the city. Golf course road it­self is one of the most im­por­tant roads of Gu­ru­gram as the most pres­ti­gious of­fice, com­mer­cial and res­i­den­tial spa­ces lie on both sides of the Golf course road.

Rera & gst im­pact

The Real Es­tate Reg­u­la­tory Act (RERA has taken into con­sid­er­a­tion the var­i­ous is­sues and prob­lems pre­vail­ing in the real-es­tate sec­tor and has ad­dressed them dili­gently bring­ing in more trans­parency and fair­ness in the deals and pro­ce­dures. The ba­sic con­cept of GST is that it is one con­sol­i­dated tax which is levied and about which the buy­ers have a clear idea re­gard­ing its amount. Ear­lier in the multi tax­a­tion sys­tem, dif­fer­ent taxes were be­ing levied at dif­fer­ent stages and at dif­fer­ent time pe­ri­ods. So GST has brought in more trans­parency and aware­ness for the buy­ers re­gard­ing the to­tal price be­fore­hand but the ground re­al­ity is that there are some prob­lems also be­ing faced re­gard­ing this by the var­i­ous stake­hold­ers which should be looked into and sorted out.

Parveen jain

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