Rs. 260 cr. sanctioned for OMR Phase II

CHENNAI: The State government has sanctioned Rs. 260 crore towards land acquisition for the widening of the second phase of Old Mamallapuram Road. Phase II of OMR, which is currently a four-lane stretch with a median, will be widened into six lanes. This 26.8 km stretch, under the charge of the State High-ways Department, will run from Siruseri to Poonjeri, where it will join the East Coast Road. Two new by passes have been planned to avoid areas that are urbanised and have too many buildings. The road will run through 13 revenue villages and nearly 200 acres of land are required to widen it.

One by-pass, run-ning to a length of 4.67 km, will come up in Padur and reach Thaiyyur B village, by-passing Kelambakkam. Similarly, the other by-pass of 5.75 km will take off in Kalavak-kam and join Vengaleri. It will by-pass Thiruporur and Thandalam. Widening the road to six lanes and strengthening it is imperative, as a lot of development is taking place beyond Siruseri, which has a SIPCOT park A large number of residential complexes and several colleges too have come up to Thiruportir, which also witnesses a high volume of traffic.

Phase I not complete

Though tolling operations on Rajiv Gandhi Salai (the stretch that runs from Madhya Kailash to Siruserh) began in December 2008, work on the road is yet to be completed. Residents complain that pedestrians are forced to walk on the road as the pavements are unfinished in many places.

G. Sathish, a resident of Semmancheri said: "They collect toll fees but what kind of service are they providing? Water stagnates on the road when it rains, and streets leading from the road also get flooded. The road smacks of lack of planning. There is no traffic management. Too many accidents happen." According to sources in the Tamil Nadu Road Development Company, which man-ages Rajiv Gandhi Salai, work on the footpaths and service lanes are expected to be completed by the end of September.

Indian Real Estate Trends for 2012

The real estate sector in India has made an impact with the people for quite some time now. In recent months, there has been noticeable development in the real estate front. Things are looking positive in the realty market as both property investors and property developers are coming out in numbers to revive the industry.

The real estate developers are working hard towards meeting the expectations of the NRI’s who return to India for settling down. They are taking into consideration their tastes and upgrading the trends for the year 2012 so as to cater to the needs of all the classes by creating global standards of living at an affordable pricing.

In almost all the markets, prices of residential real estate have appreciated in the last one year. Industry experts feel that the demand for residential units is likely to continue in the future as well. However, the investors should focus on buying houses close to a work place where the rental income will be high. This will also reduce the repayment burden.

There is a lot of uncertainty as one cannot predict short-term fluctuations in property prices, just as it is difficult to predict exchange rates or interest rates. But if the investor’s horizon is more than, say three years, it is a great time to invest in property. Many Tier I & II cities are seeing infrastructure creation and upgradation on the outskirts.

Although a real estate bubble is being observed globally, investment at today’s price and interest rate cannot be considered to calculate the risk correctly. Although all bubbles do burst you can safeguard your interests by thinking long-term and do some detailed research.

SARE Homes shines at Realty Plus Awards 2012

         

·         

• “Residential Property of the Year”– Petioles, Sector 92, Gurgaon
• “Affordable Housing of the Year”  - Ebony Greens, NH-24, Ghaziabad
• “Emerging Developer of the Year” South – Dewy Terraces, Chennai OMR and MeadowVille,   Chennai GST 

New Delhi, March 30, 2012: : Emerging as the new leader of real estate sector, SARE Homes (South Asian Real Estate) has yet again proved its mettle in the real estate sector, at the recently concluded Realty Plus Excellence Awards 2012 – North, in New Delhi. SARE Homes won three awards at this prestigious event, namely ‘Residential Property of the Year’ for Petioles in Sector 92, Gurgaon and Ebony Greenson NH-24 in Ghaziabad has received the award for ‘Affordable Housing of the year’.In addition to these prestigious honours, SARE Homes has also received ‘Emerging Developer of the Year’ (South) for both its projects Chennai namely Dewy Terraces on OMR and MeadowVilleon Koltahur GST in Chennai. The awards wereconducted by Realty Plus, the leading real estate monthly published by exchange4media Group.

Winning these awards in the North and South regions is testimony of SARE's performance on a pan India level and its capability to deliver best in class service to its customers and commit resources to ensure on time delivery of its projects.

Realty Plus Excellence Awards (RPEA) is an annual award, which felicitates the contribution of Real estate companies. The event held at The Metropolitan Hotel on 21st March, 2012 was attended by the luminaries and who’s who of the sector.

The Awardees were chosen after a rigorous selection of developers from the entire Northern region. The different categories that were awarded were spread across Developer of the Year Awards (Residential, Commercial and Retail), Select Achievement Awards and Popular Choice Awards.

The Awards event was preceded by a conclave on the topic 'Three-point wish- list for Realty 2012', which also saw, Vineet Relia, Chief Operating Officer, SARE Homes, sharing his thoughts, vision and ideas for the industry.

Speaking on the special occasion, Mr. David Walker, Executive Director, SARE Homes said, “It indeed is a proud moment for us! We have always made an attempt to provide value for our customers and will continue to strive to provide to fulfil their dreams. We have already developed 7 integrated projects in major cities in India namely – Gurgaon, Chennai, Ghaziabad, Amritsar, Indore and Navi Mumbai which represent approximately 35.6 million sq. ft. of developable area. We aim to double its area under development in the next three years”.

Mr. Vineet Relia, Chief Operating Officer, SARE Homes said, “Housing projects such as ours are the need of the hour and understanding this fact, we have developed such projects for potential customers. With these awards, we are more enthused to provide the best product for our customers. We are also happy inform that our customers have already got the possessions of homes in the first phase of Ebony Greens and the sales are getting even stronger in the other phases”

Mr. Vikram O. Datta, Director- Marketing and Sales, SARE Homes said “SARE Homes has sold more than 2000 homes and delivered more than 1000 homes till date. Our projectsare focused on middle income housing and we are happy that our projects have been liked by the customers and seeing the response we have recently launched the third phase of Ebony Greens and we are launching new phases at Kolathur and Ghaziabad also.”

Presently, SARE Homes has invested in 7 integrated projects in Gurgaon, Ghaziabad, Navi Mumbai, Chennai, Amritsar and Indore which represent approximately 39.8 million sq. ft. of developable area. SARE is in a high-growth mode and aims to double its area under development in the next three years, by creating wonderful communities of world-class standards.

SARE Homes is a professionally managed, FDI Funded real estate investment and development company. SARE Homes are funded by foreign direct investment (FDI); hence, its projects are assured of uninterrupted progress.

SARE Homes presents Petioles’- privacy apartments Introducing Gurgaon’s first luxury private Sky Deck

After successfully launching multiple projects in India and selling more than 3,500 homes, SARE Homes (South Asian Real Estate), presents yet another fantastic opportunity for the discerning home buyers to realize their dream come true—‘Petioles’, privacy apartments with Gurgaon’s first luxury private Sky Deck in Gurgaon, Sector 92.

Developed on a sprawling 48-acre integrated township , Petioles consists of 4 BHK and 4 BHK + Servant room apartments with the area of each apartment in the range of 2,040 - 2,226 sq. ft. Each floor would have just 3 apartments designed with a view to offer maximum privacy. The apartment buyers will enjoy Gurgaon’s first luxury private ‘Sky Deck’ consisting of a viewing deck, yoga and meditation zone, viewing deck, water wall and putting green.

Strategically located on the main 60 meter sector road, the project enjoys excellent connectivity via NH-8, Dwaraka Expressway and Metroline . ‘Petioles’ would be just 40 minutes drive from the IGI Airport.

Located on the growth corridor of Gurgaon, the project is close to IT/ITes, and manufacturing hubs of IMT Manesar. The township would have the requisite infrastructure like shopping facilities, health care and educational institutions within the township.

World class amenities await the buyers at Petioles with unique features like meditation and yoga zone, sky walk, water wall, putting green and a viewing deck. Each apartment faces a lush 7-acre (approx.) central greens, which is packed with features including a jogging track, children’s play area, cycling track, an open-air amphitheatre, skating rink, barbeque, putting greens, feature forest, beautifully landscaped water bodies, and the highlight - a 35,000 sq. ft. clubhouse - one of the largest in Gurgaon.

The apartments are very attractively priced and start from Rs 75.4 lakhs onwards.

Explaining the new concept Mr. David Walker, Executive Director SARE Homes said, “We are committed to fulfill the dreams of millions of Indians by introducing an international quality lifestyle within their reach. Keeping this in mind, we have introduced ‘Petioles’ in Gurgaon market which is one of the fastest growing region within NCR. Petioles will bring Gurgaon’s first luxury private sky deck to Gurgaon and comes with the twin advantages of enjoying complete privacy in the bustling city and yet be a part of community throbbing with opportunities and facilities”.

“In Gurgaon, SARE has sold more than 1,600 homes till date. Home buyers as well as investors in this region are very savvy and we are confident that they will respond positively to our latest lifestyle offering due to its unique concept, features , design and the fact that it is backed by FDI funded SARE Homes.” added Mr. Vikram O. Datta, Director- Marketing and Sales.

Elaborating on ‘Petioles’, Mr. Vineet Relia, Chief Operating Officer, SARE Homes explained, “We have always given paramount importance to the lifestyle of our customers. ‘Petioles’ is tailored to meet the needs of the customers with world-class amenities including lifestyle, sky deck ,education, health care, entertainment and professional facilities management. The apartments are designed in such a way that they ensure privacy and spacious interiors where one can unwind and relax with their family. An exciting differentiating factor at Petioles is the sky deck, which is new in the Gurgaon market.”

Construction is in full swing, and the first phase of this township will be ready for possession by April 2012.

Presently, the company has invested in 7 integrated projects in Gurgaon, Ghaziabad, Navi Mumbai, Chennai, Amritsar and Indore which represent approximately 39.8 million sq. ft. of developable area. SARE is in a high-growth mode and aims to double its area under development in the next three years, by creating wonderful communities of world-class standards.

SARE Homes, promoted by the Duet Group, is a unique real estate investment and development company, as far as the project funding is concerned. SARE Homes are funded internally by foreign direct investment (FDI); hence, its projects are assured of uninterrupted progress.