Moving to a new city or starting an independent life isn’t easy as it comes with too many roles and responsibilities. Buying a home is
one of such roles and it’s tiring as well as challenging. There are real estate agents at every angle one may look at and sometimes it
becomes difficult to find the right agent. If you are a prospective buyer and your search for an authentic and trustworthy realty….
Gautam Thapar is the CEO of Thapar Builders Pvt. Ltd., one of the leading affordable luxury
developers dealing in residential, commercial and group housing projects. In this role, he
spearheads the sales, marketing, and finance verticals of the firm. Gautam plays a vital role in Grealizing the mission and vision of the company.
This year the Akshaya Tritiya falls on May 7th; as the trend suggests the developers are very optimistic of this day. And why not, traditionally, this day is believed to be very auspicious for two reasons, for doing charity and for acquiring or investing in gold and property. Why does this happen!
What is Akshaya Tritiya
Before going further, let’s understand what Akshay Tritiya means and what makes this day so special. Astrologically, it is the third day of the Shukla Paksha of the month Vaisakha. It is on this day that both the Sun and the Moon are said to be at their planetary best. The word Akshaya in Sanskrit means immortal, something that remains forever. And therefore, it is believed that any activity done on this day continues and remains forever. Probably, this is the reason why people started doing charity on this day, and eventually, started investing in gold and properties.
Akshaya Tritiya and Real Estate
The Indian real estate market is primarily sentiment driven. Therefore, an occasion of such importance is bound to impact the sales of properties. As Mr. Prashin Jhobalia, Vice President – Marketing, House of Hiranandani rightly describes, ” Festivals and auspicious days have always been preferred for making important purchase decisions. Most homebuyers wait for such favorable days like Akshaya Tritiya to invest or buy their dream home. Several developers give out exclusive offers and flexible payment plans during this period that makes this occasion even better especially if you are an aspiring home buyer”.
Even the impulsive investors do wait for such occasions. The homebuyers who have finalized the properties but are into wait-and-watch mode also tend to make their decisions on this day. Mr. Abhinav Joshi, Head of Research, CBRE India, explains, “With the auspicious Akshaya Tritiya in the offing, developers are optimistic about increased inquiries and conversions for residential sales. With property prices remaining largely stable across metro cities, traction is expected from fence-sitting home buyers who may be looking at closures on an auspicious day. Developers, on the other hand, are leaving no stones unturned in extending festive discounts and offers to attract home buyers.”
Akshaya Tritiya: An Opportunity for First-Time Homebuyers
Not only the homebuyers, the developers too, wait for such occasions to lure the fence-sitters. Developers know there are buyers in the market, but will they lock-in their projects depends on what all schemes the developers offer to the buyers. In other words, occasions like Akshaya Tritiya allow the homebuyers to negotiate and strike the best deal with the developers. As per Mr. Rahul Grover, President sales & operations, Sai Estate Consultants, “In today’s vast residential market, most Indian buyers prefer an auspicious day to make a home purchase and hence several developers offer exclusive discounts and special schemes during this period. No floor rise charges, monetary gifts, tour trips, flexible payment options, no GST across properties are offered by leading developers, which make it the best time to invest. The sector is relatively stable currently, and we are hoping it will give a much-needed push to the industry ahead of the festive season”.
To encourage the fence-sitters and the first-time homebuyers, developers come up with lucrative schemes. What else a buyer wants! Once he has finalized the property basis his location and other requirements, an added discount is always a bonus. The House of Hiranandani has come up with various offers for their Chennai and Bangalore properties. As Mr. Prashin Jhobalia says, “We are pleased to join the celebrations and offer our customers a luxurious home in our properties in Chennai and Bangalore that provides a blissful lifestyle experience with higher savings. The various attractive offers include flexible payment options, saving on GST, rent and earn option, no floor rise charges among others and these offers vary across properties”. The Thapar Group, which is developing The Arthah in Vaishali, Ghaziabad, are also offering many schemes. Mr. Gautam Thapar, CEO – Thapar Builders says, “Akshaya Tritiya is regarded as a tremendously auspicious time to create wealth. People that were indecisive in the past are more inclined to invest in real estate. Hence, builders attract consumers through significant offers and discounts. We are offering ready to move in home with Occupancy Certificate (OC) at no GST price, one free covered car parking and option to take fittings such as modular kitchen/wardrobes/hob chimney in the price of the unit”.
Rustomjee Group, one of the leading developers in the Mumbai and Maharashtra region, is also offering a full rebate on GST across their properties this Akshaya Tritiya. Buyers can save up to Rs 15 Lakhs by booking under their ‘0% GST’ offer which is valid for a very limited period on limited stock. Whereas, the Runwal Group, another known name in the real estate business, is offering an Assured Gold Voucher on booking at three of their projects. The projects are Runwal Bliss at Kanjurmarg East, Runwal Forests at Kanjurwal West and Runwal Greens at Mulund West.
Buy your home this Akshay Tritiya
The selection and finalization of the dream home is a scientific process. It starts with identifying the requirements and preferences like location, size, amenities, surroundings, etc. One should always follow these steps first. However, one should not ignore the freebies and discounts as well. If you have selected the property you want to invest, this is the right time to go ahead with it. Talk to the developer and enquire about the offers and schemes for Akshaya Tritiya. You never know you might get the deal of your lifetime!
Akshaya Tritiya, a widely celebrated festival in India, is considered to be one of the most auspicious days for new beginnings. It falls on the third lunar day of Shukla Paksha of Vaishakha month and is also believed to be the birthday of Lord Rama. People from every nook and corner of India plan huge investments and make their purchase decision on this day since it not only carries a religious significance but also has a cultural significance to it.
It is said that the occasion brings bliss, grace and prosperity to those who perform holy rites, rituals, and ceremonies on this day. While some couples willingly choose the day to tie their knot and commence a life full of fortunes, others prefer purchasing gold as it is the symbol of wealth and growth. For others, it is the day when they make big purchases; from starting new ventures to entering into homes.
Festivals such as Gudi Padwa and Diwali are considered auspicious for purchasing new homes due to which there is generally a high demand for properties on such occasions. Similarly, purchasing a home on Akshaya Tritiya has a religious value attached to it. People prefer this time to make important decisions involving their money because of which, most sellers get the best prices and offers. As for the buyers, getting the same property in their favourite localities at a cheaper price is a dream come true.
Many builders, realtors and agents offer exclusive deals and flexible payment options to boost housing sales. Hence, the festive spirit as well as the real estate market momentum, both make gains from this festival.
The introduction of the Real Estate (Regulation and Development) Act (RERA) and Goods and Services Tax (GST) has also brought in the much-needed transparency and accountability in the sector, making sure that buyers make the most of the deal than otherwise. The year 2019 is perfect, and with this festival just around the corner, now is the time for fence-sitters and potential homebuyers to take the plunge.
Let us have a look at some more factors that makes Akshaya Tritiya an ideal occasion for buying a home:
Currently, the National Capital Region (NCR) market is showing a rapid growth in migration as well as residential development. Potential homebuyers and investors can make the most of this opportunity by negotiating hard with the builder. However, prospective homebuyers must consider investing, basis their level of risk and expected returns.
Real estate has seen quite a tremendous progress and influx in its count of buyers since the inception of RERA as well as GST. With these regulatory changes and affordable housing coming into focus, the well renowned developers have started to offer ready-made properties with great infrastructure and comforts within tight budgets; a reason why buyers are paying more attention to such properties.
Metropolitan cities like Delhi NCR have followed suite and has recently come up with a diverse range of ready-to-move-in properties. The situation was quite different a few months earlier when huge unsold inventories of residential properties in Delhi NCR concerned the developers. On the flip side, such properties are now yielding fruits due to an upsurge in demand for constructed apartments. Flats near Vaishali metro station are becoming a hot favourite amongst investors and home seekers who now perceive these as a suitable option to live in; thanks to the easy metro connectivity and a lively neighbourhood filled with desirable amenities.
While the GST, RERA and other factors are in action, one might find it advantageous to invest in a ready to move property rather than the one which is under construction due to the reasons mentioned below:
• Statistics: The leading property site, Magicbricks’ NPI reveals that buyers are willing to pay around 3.7% more premiums on ready to move in properties than that of the properties under construction. Around 46 % of the total localities in Delhi-NCR were covered in this index and have noted an increase of 3.1% in average price of the ready to move in properties in the midst of quarter ended December, 2017.
• No hassle of paying rent:Who wants to pay a whopping amount of money as rent? No one! Ready to move in properties serve as the best option for these kinds of buyers. Thus, the strategically best locations such as residential property in Delhi NCR at cost-effective prices has become the dream home destination for buyers.
• No risk of project completion: Many end users are looking for ready to move in properties to protect themselves from the risk that adjoins a property under construction.
The Arthah- Ready to move in residential property in Delhi NCR
The Arthah from Thapar Group, a pioneer in real estate has demonstrated an excellence in providing ready to move in flats within the prescribed time limit. Its flats near Vaishali metro station is an illustration of its superior construction skills and unparalleled amenities. Easy connectivity to the metro adds additional charm to it and makes it the most popular residential property in Delhi NCR. For more info on these properties, contact us at 9810203537.
Keywords: flats near Vaishali metro station, residential property in delhincr
Source: ThaparIndia.com
Thapar Builders, the prominent real estate developer in Ghaziabad, is all set to deliver its project ‘The Arthah’ before Diwali 2018. Much to the happiness of its investors, the most stunning apartment in Delhi NCR will be adorned by sparkling lights during the most celebrated festival of India.
However, this is just one rare occasion when a project in the Northern India is being delivered on the schedule as promised. Various other real estate developers in Ghaziabad have failed to meet their delivery timelines causing much stress to investors of apartments in Delhi NCR. Various factors such as demonetization, dip in prices and others can be considered as reasons behind the same. Going forward in 2018, the situation seems similar. However, before commenting on that let us weigh out the positives and negatives of the real estate industry in 2018:-
Favourable Factors
• Sales are expected to go up on account of theaffordable housing drive by the Modi government while prices are expected to remain more or less stable.This might be good news for real estate developers in Ghaziabad and other regions, especially those in smart cities, as they can now breathe a sigh of relief.
• India is likely to become a hub for global investors after the inception of RERA and GST. Investors can now be assured of more transparent dealings and fair prices.
• The government’s efforts for boosting the affordable housing with various tax incentives will continue to attract foreign investments in India.
Unfavourable Factors
• Speculations of consolidations are high and hence only the serious players will be able to survive in the industry. This would mean that investors might feel a risk to invest their money in real estate until the consolidation phase.
• Buyers may hold back their purchases in the wait of regulatory changes by the government which may adversely affect the business cycle.
Despite few adversities, post implementation of the reforms such as RERA and GST, the demand of under construction and ready to move in flats is expected to increase. Investors are expressing more willingness to pay for the reputed and well established real estate developers- Arthah, being one amongst them. It is currently offering fully-furnished apartments in Delhi NCR to the ones who want to own a piece of heaven in this beautiful location. Grab one now. Call at 9810203537.
Source: Thaparindia.com
Towards the end of 2016, the Indian economy suddenly experienced a massive turmoil. The reason for it was demonetization, an exercise which most people considered as a much-needed step taken by the Indian government.
Though the cash crunch faced by the masses during the exercise eventually subsided, the business environment was affected for a much longer time; real estate being one key sector which saw sudden a plunge in prices. Infamous for unfair deals and an extensive involvement of black money, real estate soon dipped down on account of lower investor confidence. Though the impact was felt across the country, metropolitans were most affected. Massive projects in Greater Noida, expressway were stalled leaving investors devastated. Similarly, there were no takers for ready to move flats in vaishali, Ghaziabad despite of world-class amenities in heart of the National Capital Region.
However, now, after more than a year since demonetization, the after-effects seem to fade and property markets are seen stabilizing again showing initial signs of recovery. Consolidation in prices has rather been helpful and have worked well in the favour of lower income group. It can be said that the extent of black money involved in the dealings of property earlier is no longer seen, a good sign for the buyers. Though, there have been potentially long-lasting changes in the sector after demonetization, it has led to more transparency in the system that involves huge cash dealings. Now only those players who play clean and conduct their business with integrity will be able to survive in real estate sector in the long-run.
One such player is Thapar Group, giant developer of properties offering property near vaishali metro station, Ghaziabad area through its flagship project: The Arthah. Popular for delivering projects on time and fair dealing of properties, Thapar Group has not been much affected with these reforms and continues to sell its ready to move flats in Vaishali Ghaziabad at a higher pace than its competitors. Besides them, builders like ATS and Mahagun are also renowned for their multiple properties near vashali metro station and Indirapuram.
To conclude, both dealers and investors indulging in transparent property dealings in a legal manner need not panic. As the aftermath of demonetization subsides further, speculations are that Indian real estate sector is going to emerge stronger and healthier and enjoy sustainable growth in future.
To know more about sustainable projects near you, call us at 9810203537
Source: ThaparIndia.com
Keywords: flats near Vaishali metro station, residential property in delhincr
Real estate has seen quite a tremendous progress and influx in its count of buyers since the inception of RERA as well as GST. With these regulatory changes and affordable housing coming into focus, the well renowned developers have started to offer ready-made properties with great infrastructure and comforts within tight budgets; a reason why buyers are paying more attention to such properties.
Metropolitan cities like Delhi NCR have followed suite and has recently come up with a diverse range of ready-to-move-in properties. The situation was quite different a few months earlier when huge unsold inventories of residential properties in Delhi NCR concerned the developers. On the flip side, such properties are now yielding fruits due to an upsurge in demand for constructed apartments. Flats near Vaishali metro station are becoming a hot favourite amongst investors and home seekers who now perceive these as a suitable option to live in; thanks to the easy metro connectivity and a lively neighbourhood filled with desirable amenities.
While the GST, RERA and other factors are in action, one might find it advantageous to invest in a ready to move property rather than the one which is under construction due to the reasons mentioned below:
• Statistics: The leading property site, Magicbricks’ NPI reveals that buyers are willing to pay around 3.7% more premiums on ready to move in properties than that of the properties under construction. Around 46 % of the total localities in Delhi-NCR were covered in this index and have noted an increase of 3.1% in average price of the ready to move in properties in the midst of quarter ended December, 2017.
• No hassle of paying rent:Who wants to pay a whopping amount of money as rent? No one! Ready to move in properties serve as the best option for these kinds of buyers. Thus, the strategically best locations such as residential property in Delhi NCR at cost-effective prices has become the dream home destination for buyers.
• No risk of project completion: Many end users are looking for ready to move in properties to protect themselves from the risk that adjoins a property under construction.
The Arthah- Ready to move in residential property in Delhi NCR
The Arthah from Thapar Group, a pioneer in real estate has demonstrated an excellence in providing ready to move in flats within the prescribed time limit. Its flats near Vaishali metro station is an illustration of its superior construction skills and unparalleled amenities. Easy connectivity to the metro adds additional charm to it and makes it the most popular residential property in Delhi NCR. For more info on these properties, contact us at 9810203537.
Source: ThaparIndia.com
Keyword: apartments near vaishali metro station, ready to move flats in Ghaziabad
Heavy consumer distrust prevails in the Indian real estate markets. As many projects, particularly those in Delhi NCR area have been stalled or faced unacceptable delay in delivery from the developers end, consumers have started moving to other asset classes for investment. Disproportionate numbers of apartments near vaishali metro station and on Noida expressway lie vacant on account of diminishing trust levels. Ready to move flats in Ghaziabad and other developing areas experience the same fate.
As India opens up to foreign investments due to shift in FDI Policy, hopefully the situation will change and move towards progressive improvement. Most of the developers today, in order to remain competitive, are entering into joint ventures with foreign corporations. This collaboration is also creating inroads for better technology and innovative means in the sector. As the foreign companies have a say on strategic decisions and overall operations, it is becoming imperative for Indian real estate sector to adopt internationally acclaimed best practices.
Amongst others, Building Information Modelling (BIM) has emerged as a leading technology which is changing the shape of the Indian real estate sector. Most of the renowned developers are in the process of adopting it while the smaller ones aspire to include it in their business model shortly. The early adopters obviously will gain a competitive advantage over others and therefore deliver better performance.
Similar to better technology, the scope for innovative techniques in the sector has also increased massively. Joint ventures have enabled companies to have an access to larger resource pool which paves way for faster and better innovation. The smaller companies or one who have not been able to keep up with the changing times are now struggling to outbeat the progressive ones.
Thapar Builders, an admirable real estate brand in Northern India, is making best use of technical advancements and innovating constantly to stay ahead in the game. Developer of ‘The Arthah’, a revolutionary project in the heart of National Capital Region, it offers spectacular apartments near vaishali metro station built on latest means. The builder has created a pool of modern technologies, materials and other resources and is now all set to reap its benefits and sail over competition.
If you are looking for a ready to move flat in Ghaziabad, constructed using avant-garde technology and loaded with excellent amenities, click here. Alternatively, you may also contact us at 9810203537.
Source: Thaparindia.com
Keywords: Ready to move luxury flats in Vaishali, ready to move flats in kaushambi
Despite the crazy turnover of events in 2017 for real estate industry and multiple policy reforms affecting it, it was still a year when people didn’t stop their search for properties on various available portals.
As per Magic Bricks, one of the most sought property portal, 15 lakh people actively searched for relevant properties to be bought. This clearly indicates that real estate continued to be on top priority in the last year. Of all the searches registered, users from Maharashtra made it to the hit list. Properties across seven localities in the state were most searched for. Speaking about most searched properties on rent, New Delhi scored the first position. Home owners owning ready to move luxury flats in vaishali gained substantially and faced no dearth in demand rewarding them with significant rental incomes. Ready to move flats in kaushambi fared equally in terms of rent and so did many other popular areas of Delhi. Buying meter shot up for Hyderabad and Navi Mumbai as well where rented apartments attracted a heavy price.
The probability of good rental income also created a spur in demand for emerging areas of Delhi NCR. Ready to move luxury flats in vaishali in iconic apartments “The Arthah” from Thapar Group attracted investors from all over the region. Another popular builder, ATS, also saw a rise in demand last year amidst the impact of demonetization and GST. Ready to move flats in Kaushambi also enjoyed reasonable demand and so did properties in neighbouring areas of Vasundhra and East Delhi. For more information on these properties, contact @9810203537.
Though demonetization and GST played as negative factors to the growth in demand for the sector, Real Estate Regulatory Authority (RERA) tried to balance the act. The authority led to a hike in investor confidence who longed for some kind of regulation in an otherwise unregulated market. Fair play induced on account of cracking of black money in the sector further gave a thrust to genuine buyers.
Going forward in 2018, we expect to see an upsurge in real estate demand. Budget 2018 has also been supportive towards this end and an extension of coverage under the PMAY scheme is expected to create more opportunities for builders and investors likewise. Here on, we are positive about a rapid upward trend in real estate which will silence the past debates on a slum in it.
Source: thaparindia.com
New Delhi: Almost a year after the Real Estate Regulatory Act (RERA) was enacted, its implementation is still patchy, with a permanent regulator missing in most states. The result is that buyers still have not got a clear roadmap and builders continue to sell distant dreams.
Among 29 states in the country, only Maharashtra, Madhya Pradesh and Punjab have set up permanent real estate regulatory authorities so far. Jammu and Kashmir is out of the purview of the Act as the state has to enact its own law.
“Given that it is a state subject, the implementation has been quite varied,” said Pallav Pandey, Co-Founder and CEO, FastFox, an online platform for rental housing, adding that “much confusion persists on what is permissible in practice”.
According to a report by the consultancy firm Knight Frank, eight states have not even installed a regulating authority and the remaining 17 have installed “interim” regulators.
“Sadly, most states have been playing the waiting game about getting a permanent regulator after handing over the reins to such ‘interim’ authorities. What was strictly supposed to be a stop-gap arrangement has turned into a standard,” says the report.
Additionally, only 14 states and seven Union Territories have a functional portal in place and 20 states and the Union Territories have notified the rules.
The report says that Maharashtra had been among the best executioners of the Act. Over 25,000 projects have been registered under RERA across India, out of which 62 per cent are in Maharashtra alone.
“Maharashtra is the only exception where the regulator’s proactive functioning has set new precedents every second day,” the report says.
Although setting up of a permanent regulator has sorely lagged behind, stakeholders say the RERA had already caused some perceptible changes in the market.
“The Act has helped in eliminating the pre-launch projects completely from the market which had led to a price hype,” says Gautam Thapar, CEO of Delhi-NCR based Thapar Builders.
“In the past one year, the RERA Act has become a custodian of the much-required transparency and redefined rights for both of the sides. It has also helped the industry to clean up the unorganised and fly-by-night players from the market,” he added.
According to Anshuman Magazine, Chairman of India and South East Asia, CBRE: “The reform has brought about regulation and transparency into the sector, further augmenting the growth of the property market in India.”
Talking of limitations, Amit Wadhwani, Director of Sai Estate Consultants, said that RERA had not been able to curb black money in real estate yet. “Provisions regarding controlling the black money should be brought into effect, he emphasised.
He also said that builders were putting dates much ahead of their approximate completion time thus giving themselves much greater leeway in handing over projects. The regulator should take that into account and give projects a stipulated time to complete.
A major feature of the Act is that even brokers and consulting agents have to register themselves. However, this was not really happening.
“For brokers or agents, the year has been somewhat overwhelming. A number of them have refrained from registering to take advantage of the RERA opportunity,” said Shubika Bilkha, Director of Real Estate Management Institute (REMI).
She said that women who served as agents have in particular been more wary to involve themselves in this evolving framework. “It is incumbent on the industry and the regulators to ensure that these agents find their way into the structured regime,” Bilkha added.
Market players say a major obstacle in the way of boosting demand was the higher rate of Goods and Services Tax (GST) on under construction and near completion projects.
Thapar said there had not been enough impact on buying decisions for near-completion projects due to the higher GST rate of 12 per cent on them in comparison to 4.5 per cent service tax earlier.
Pandey from FastFox says the government should think of bringing the rental housing also under the purview of the Act. “RERA only covers new home sales. That is not the complete real estate,” he said, adding that 40 per cent of urban India lived on rent.
Despite the initial hiccups, most stakeholders believe that, eventually, the law would help in leading to a stable, streamlined and transparent property market. “In the long run it will bring about a better aligned structure to the realty sector,” Magazine of CBRE said.
Source:
Thapar Builders is working on its first semi-luxury segment 26-storey residential project, ARTHAH, which is being built at par with global standards. The project is conveniently located at very close proximity to Vaishali Metro station in Ghaziabad, on Eastern flank of Delhi NCR. Built on approximately 3,930 square metres plot, there is 86% (3,300sq.mtrs) of open space assuring road-side as well as garden-view open sides to each unit.
Gautam Thapar, the Director of Thapar Homes, shared his company’s vision with Team GRIHA: “Our core strength lies in transforming barren land into developed property par excellence through fusion of modern technology with unique designing skill sets.” When asked how the project is different from that of the competition, he added, “ARTHAH is unique and different because not only is it developed at a prime location of Vaishali and comprises of world class luxury facilities, but it is also being offered at affordable prices.”
The 103-metre tall structure has 84 luxury residences and 48 studio units, and it is claimed to be the tallest residential tower in Vaishali and among 10 tallest in the National Capital Region. Each of the 48 studios measure 2,200sq.ft floor area and inner walls can be pulled apart to create a single hall. Besides premium standard features including rooftop deck and a departmental store, there is easy access to and from the metro station, schools, hospitals and malls. Environmental concerns Gautam Thapar is also very conscious on environmental issues: “To justify the Arthah vision, we are working towards maintaining a fine balance in our eco-system through excellent provisions for rain water harvesting, roof top grid connection for solar energy generation in our studio apartments, all of which will help conserve energy.” The apartments have also been designed as per Vaastu principle to ensure optimum flow of positive energy, he asserts.
In spite of all these amenities and provisions, Mr Thapar markets the project as “affordable luxury”: “Usually a luxury apartment is priced Rs.4 crore and above, which only those consumers can afford who earn more than Rs.4 lakh a month; in contrast, sales price of our units start at Rs.1.5 crore and these are semi-furnished apartments.” RERA a necessity, it’s come late Developers have different views about the Real Estate (Regulation & Development) Act 2016; Gautam Thapar is all praise for it: “RERA protects the rights of consumer, who is the source of income for us. Scams in this industry have been making news headlines lately, which have cast doubts on fair intention of developers at large. This Act is going to bring transparency in property dealings; it will help professionalize the system.”
Gautam sees another silver lining in the strict implementation of the Act: “As a result of RERA only the serious players will exist, so it is good; this will lessen the competition for us as well. India has adopted the law very late, it’s been in force in countries like US, Dubai since long back.” Only cash discounts matter When asked to comment on various discounts and freebies being offered by developers during the festive season, Gautam said buyers should only consider cash discounts as they can better compare the discounted net price with other available options. “Builder after all is a businessman and will incorporate the cost of free gifts in the offer price,” he cautions.
Gautam sounded optimistic about the future of real estate in India, “Future is always bright. India has the fastest growing population and so the demand for houses will never go down, particularly in metro and larger cities that provide maximum employment opportunities.”
Thapar Builders (P) Ltd, an established player in Delhi NCR, U.P., Haryana and Mumbai real estate arena since 1983, was initially into commercial projects and later started residential apartments and integrated service projects like site development, property analysis, investment and funding, building management, manpower training and hospitality. Moving ahead, the company plans to foray in to seed funding, it will invest in business idea development and execution services, private equity placement services and financial services.
Thapar India launches its first residential project in Ghaziabad.
13 September 2016
Thapar India has launched its first residential project “Arthah” in Vaishali, Ghaziabad. The 26-storey building will boast of 84 semi and fully-furnished luxury homes and 48 studio apartments. The project has been designed by Morphogeesis, a reputed architectural company, and is one of the top 10 tall buildings in Delhi NCR region.
Finally, one of the most renowned & trusted builders Thapar India has come up with its most promising, ambitious & first residential project named The Arthah Choose Arthah, choose a meaningful life! Address : Plot No-15, Sector 4, Vaishali, Ghaziabad P.S. – These are not graphic images; these are directly clicked from the actual site by the representative of INDIA AT A GLANCE #India #IncredibleIndia #IndiaataGlance #Blog #Blogger #RealEstate #Villa #Apartment #Ghaziabad #ThaparIndia #Builder #TheArthah #Varanasi #Delhi #Noida #Jaunpur #DelhiBlogger #JaunpurBlogger #VaranasiBlogger #GurgaonBlogger #NoidaBlogger #Gurgaon #Gurugram #Home #Family #Happiness
To improve the road infrastructure in the city, the Ghaziabad Development Authority (GDA) is soon going to undertake as many as 44 projects. For the same, a sum of Rs 190 crore has been sanctioned to the authority. Majority of the funds will be used for road widening, improving lighting system and construction of rotaries for better traffic movement. In this backdrop, Nikunj Joshi of QuikrHomes Bureau spoke to Gautam Thapar, co-direction of Thapar India, who recently launched their first residential project in Ghaziabad. Here are the excerpts.
Do you think Ghaziabad will lead the show in Delhi NCR region?
Ghaziabad is one of India’s biggest Industrial cities. It has also found a place in the list of top ten dynamic cities in the world. It will surely lead the show as it a consumer-centric market unlike Gurugram and Greater Noida. Moreover, with property prices being unaffordable in most part of Delhi and other places of NCR, Ghaziabad evolves as a better option for the home-buyers.
Ghaziabad is also a great opportunity for buyers from other UP cities who wish to settle in NCR. Lastly, with massive infrastructural development and upgradation underway in terms of Metro Lines and widening of NH-24, the potential will only improve with time.
With so much inventory overhang, why are developers not slashing the property prices of the residential stock?
I think, if there really was any further scope to reduce the price- the developers would have happily reduced it further. A lot of discounts, schemes, packages and scope for negotiation are being offered to lure consumers in the current scenario.
With projects getting delayed for more than 4 years, the cash flow and sales of most developers have almost absolutely shrunk. Moreover, as compared to 4-5 years ago, the cost to complete a delayed project has drastically gone up with the rise in input cost.
In most of the cases, developers have already taken the majority of the cost of the apartment and used it for construction or have diverter the funds for a new project. And with the rising cost of interest for financing the construction, it will not make sense for the developer to complete the project if prices for new or remaining units are slashed beyond a certain amount.
How do you view affordable housing segment in India today?
Affordable housing is categorised based on three distinct types of housing- EWS, LIG and MIG housing. The size of the dwelling unit; varying from 300 sq. ft. to 1,200 sq. ft. depending on the housing category type, and then the cost or EMI of the dwelling unit, which should not cross 30-40% of the buyer’s monthly income.
Affordable Housing has great potential to take India to the next level. More than 18 million urban home are required in the coming years and the need for good quality affordable housing with easy connectivity for the growing young population in and around major cities will be the key factor for the growth of our economy.
What, as per you, would facilitate the growth of affordable housing in the country?
Infrastructural development by the government will be the key to success for facilitating the growth of affordable housing. Starting from, affordable land for development in & around major cities, easy connectivity for hassle-free commute from home to work in the form of good road networks, metro lines, freight corridors etc, abundance of utilities such as- power, water, sewage line, recycling plants etc and social infrastructure such as – schools, colleges, hospitals etc.
Do you think the government will be able to achieve the ambitious dream of “Housing for All by 2022”?Nothing is impossible if done with the right intent and right execution!
Which cities are expected to lead in this pocket-friendly segment?I think the major cities like Delhi-NCR, Mumbai, Ahmedabad, Pune, Bangalore will lead the way as these cities offer more employment opportunities.
Q. How did you start your career?
Ans. We started our career’s quite young, accompanying our father to his office and construction sites on weekends for almost every summer or winter breaks and from the age of like 12-13 years. We both were pretty sure about wanting to join and grow our family business, even before we left for college to Babson & Le rosche respectively.
Q. You have been in the industry for so many years? What changes have you witnessed?
Ans. The industry had reached a comfort zone over period of last 10-12 years, where a few big developers controlled the markets in major cities and bullied the consumers throughout or landowners of a few acres would consider himself a builder, without any expertise or knowledge. The builders, investors or brokers have been use to high appreciation in the real estate and selling properties 2x-5x within months of a deal, but as the market has matured and the demand supply gap has balanced, the prices have fallen and stabilised, but that is only a sign of a healthy market condition and not any kind of bubble of sort.
With big investment on infrastructural projects announced by government and key initiatives by the government like, REIT AND RERA will go a very long way to improve the market conditions for business for both the consumers and builders. Almost every Industry has a regulatory body and it was only high time that real estate had a regulatory body overlooking the builders and interest of the consumers.
Q. What can you tell about your projects & expansion Plans?
Ans. We are currently constructing our first residential project “The Arthah” in Vaishali, which also the first smart residential building of NCR at 103 meters, 27 floors. The possession is on schedule for Diwali 2018 and have completed almost 2,00,000 sq feet of construction from the total 2,50,000 sq feet sanctioned in less than 2 years. At present we are only focusing on completing this project before time as it is also going to our Marquee Project before we launch other projects in the next few years. We have sizeable land bank across NCR & Mumbai, and our focus in going to be on similar niche projects at prime locations rather than huge townships. In 2017, we will be launching two commercial projects, one in Ghaziabad and one in Noida. We are in the process of getting the approvals for the same.
Q. What Challenges and strength you are facing at your Real estate segment?
Ans. One of the biggest challenges has the been the time, effort and cost in building and developing trust for yourself and your brand with the consumers in today’s market scenario. Not in the history of this industry, have even the courts taken such strict and much-needed actions against errant builders. Also, working around the different government/development authorities to get all the approvals is quite time-consuming. We should also now work towards getting a single window clearances for the building sanction plans.
The biggest strength for the real estate segment would the high percentage of our population still in their teens and the growing economy of our country. With time and rising household incomes in both rural and urban areas, the need for good housing and commercial space will only rise. Also, the recent market dynamics is a very good opportunity for us to make it big working with the right business ethics and professionalism.
Q. According to the taste of the public what sort of facilities as developers you providing in your project?
Ans. Our current project is being constructed to provide the best of the facilities at an affordable price. It is also planned as the first smart building in a group housing format.
Points for SMART BUILDING –
1. Ground coverage 20 % , 80% of post area open GREEN landscape area with water bodies.
60+ trees planted in 4000 sq mrs
2. energy efficient building design – Vertical fins to control sunlight and heat entering into the apartments.
3. each apartment is designed with 2 balconies each for cross ventilation.
4.Solar panel for clean energy for lighting of all common area LED Lights.
5.STP for reuse of waste water in gardening and toilets.
6.Rain water harvesting.
7.Smart communicating system for each apartment with CCTV cameras in all common area and around the clock security.
8. two-layer stack car parking in the basement.
9. each apartment fitted with fiber optics.
10. Smart Waste management system
Q. Please quote your dream projects with what sort of new specialties?
Ans. My dream project would be a smart city project on lines of the songda city in Incheon, south Korea. I recently had the opportunity to visit and the experience the life of living in a smart city for a few day and I was completely blown away with how advanced they are in day to day city living compared to us.
Q. What is the future of the Real Estate market?
Ans. The future looks very bright and better market conditions for builders and buyers both.
Q. What is your advice for the homebuyers?
Ans. If you are thinking of buying your dream home- there has not be a better time to get a deal of your choice from a builder, so act swift and please do all your du diligence before buying.
A major reason we are hoping demand for rental residential market would rise is that new employment opportunities are getting created in big cities where the capital cost of good houses are too high for a starter to afford. But, the same person can afford to take an apartment on rent, which would enable him to lead a living that he aspired for, says Gautam Thapar, director of Thapar Builders
Indian real estate sector is going through a phase of big revamp on the policy front with mega announcements on infrastructure upgradation in the country. There is no dearth of transactions in the residential segment, but buyers still flock to responsible developers who stand by their commitment on timely delivery, says Gautam Thapar, director of Thapar Builders, in an interview with Times Property.Excerpts from the interview:
WHAT ARE THE PROSPECTS OF THE RENTAL RESIDENTIAL MARKET?
Rental market has a great future in the coun try’s residential segment of the real estate. An increasingly globalized workforce and an all per vasive private multinational work culture have given a fillip to the growth of India’s rental resi dential space over the past few years.
At present, housing demand comes in two possible ways: one, people live in their own houses, or, two, in a property bought by others for which a fixed amount is paid each monthsimply put, in rented accommodation. Thus, mo bility is mostly limited.
In the present market scenario, no developer is constructing a project with the sole purpose of renting out housing units in it, as rental yields in the residential space are only about 3% per annum and most of us do not find it an attrac tive business proposition.
The cost of building a house is far higher than the returns on letting it out and it doesn’t make any business sense, so far.
On the other hand, residential properties are purchased by individuals or investors solely for their capital value appreciation and being able to rent them out and start recovering some amount that can pay towards the EMI is surely helpful to them.
WHERE IS THE DEMAND FOR RENTAL-ONLY HOUSING?
With improved educational facilities and a rise in the mobility of professionals, more and more people are moving to places where there are opportunities for work and study.
People would prefer this option when they have the liberty to experiment with career switches and still be able to find a decent accommodation.
A major reason we are hoping demand for rental residential market would rise is the employment opportunities in metro cities. But in these cities, the price of residential units is very high, particularly for those who just have started their career. In metro cities like the Delhi NCR, Mumbai, Bangalore, Pune, Chennai, and Hyderabad current housing rates are prohibitive high.
When a housing market loses its affordability, the natural tendency is for people to steer towards rental housing, till the time they can afford to buy their own house.
Today, executives with high mobility prefer to live in a good accommodation even on rent, which could enable them to live a life that they aspired for. They postpone the decision to by their own house till they can afford to pay the EMI.
BUT WILL THIS NOT CALL FOR HUGE CAPITAL INVESTMENT BY DEVELOPERS, WHO WANT TO BUILD HOUSES TO GIVE THEM ON RENT, PARTICULARLY IN METRO CITIES?
Yes, of course! But if you compute the yield over a long period of time, the investment is very good. It is attractive enough if one has the capital.The best part is that the risk is very low, if one does it in an organized way.
DO YOU THINK THIS MARKET WILL GROW AND MULTIPLE PLAYERS WILL JUMP INTO THE FRAY?
Yes! World over, as the economy of a country matures, the rental market grows in tandem with the outright sale-purchase market.
HOW DO YOU FIND THE PRESENT CONDITION OF THE REAL ESTATE MARKET IN THE COUNTRY, THE NCR IN PARTICULAR?
There is a huge opportunity in the real estate market in the country. But, right now, it is facing a huge challenge due to delay in completion of housing projects. But this will be sorted out soon.
WHO IS TO BLAME FOR THE DELAY IN OFFERING POSSESSIONS?
Delay in possession of flats is a big concern today. Any delay leads to cost escalation and increase in the base value of the housing project.
So who is responsible? We cannot pin the blame on any one particular party or on one reason for this. There are multiple reasons: unnecessary interference by local development authorities, lack of physical infrastructure at the time of construction, shortage of cash flow, etc.
But, ultimately, developers have to shoulder the responsibility in completing projects.
HOW IS THE MARKET? IS IT A GOOD TIME TO BUY OR INVEST IN PROPERTY?
There is no dearth of transactions in the residential segment, as buyers still flock to responsible developers who stand by their commitment on timely delivery.
This is best time to buy, as the prices have come into the affordable range in several pockets of Noida and Gurgaon. If you are awaiting further price correction, it is not possible.
Indian market is ripe for rental real estate market. However, builders and real estate companies find it a major challenge to build a project exclusively for rentals, as yields are very low: Gautam Thapar, Thapar Builders
Gautam Thapar, director of Thapar Builders (P) Ltd, said in an inter view with Times Property that In dia’s residential rental market is completely run by individual home owners and is more realistic.
Realty firms find it a major challenge to build a project exclusively for rentals, as rental yields in the residential space are only about 3% per annum of the capital value of the underlying asset and this is not an attractive business proposition. The company is developing a luxury housing project, The Arthah, in Vaishali, with both rental and outright-sale segments. The group also plans to soon launch two residential projects, one on GT Road, Ghaziabad, and the other near the ring road in Maharani Bag, New Delhi, with the second one exclusively for rent-out purpose.
Indian market is ripe for rental real estate market. However, builders and real estate companies find it a major challenge to build a project exclusively for rentals, as yields are very low: Gautam Thapar, Thapar Builders
Gautam Thapar, director of Thapar Builders (P) Ltd, said in an inter view with Times Property that In dia’s residential rental market is completely run by individual home owners and is more realistic.
A major reason we are hoping demand for rental residential market would rise is that new employment opportunities are getting created in big cities where the capital cost of good houses are too high for a starter to afford. But, the same person can afford to take an apartment on rent, which would enable him to lead a living that he aspired for, says Gautam Thapar, director of Thapar Builders
Excerpts from the interview:
WHAT ARE THE PROSPECTS OF THE RENTAL RESIDENTIAL MARKET?
Rental market has a great future in the coun try’s residential segment of the real estate. An increasingly globalized workforce and an all per vasive private multinational work culture have given a fillip to the growth of India’s rental resi dential space over the past few years.
At present, housing demand comes in two possible ways: one, people live in their own houses, or, two, in a property bought by others for which a fixed amount is paid each monthsimply put, in rented accommodation. Thus, mo bility is mostly limited.
In the present market scenario, no developer is constructing a project with the sole purpose of renting out housing units in it, as rental yields in the residential space are only about 3% per annum and most of us do not find it an attrac tive business proposition.
The cost of building a house is far higher than the returns on letting it out and it doesn’t make any business sense, so far.
On the other hand, residential properties are purchased by individuals or investors solely for their capital value appreciation and being able to rent them out and start recovering some amount that can pay towards the EMI is surely helpful to them.
WHERE IS THE DEMAND FOR RENTAL-ONLY HOUSING?
With improved educational facilities and a rise in the mobility of professionals, more and more people are moving to places where there are opportunities for work and study.
People would prefer this option when they have the liberty to experiment with career switches and still be able to find a decent accommodation.
A major reason we are hoping demand for rental residential market would rise is the employment opportunities in metro cities. But in these cities, the price of residential units is very high, particularly for those who just have started their career. In metro cities like the Delhi NCR, Mumbai, Bangalore, Pune, Chennai, and Hyderabad current housing rates are prohibitive high.
When a housing market loses its affordability, the natural tendency is for people to steer towards rental housing, till the time they can afford to buy their own house.
Today, executives with high mobility prefer to live in a good accommodation even on rent, which could enable them to live a life that they aspired for. They postpone the decision to by their own house till they can afford to pay the EMI.
BUT WILL THIS NOT CALL FOR HUGE CAPITAL INVESTMENT BY DEVELOPERS, WHO WANT TO BUILD HOUSES TO GIVE THEM ON RENT, PARTICULARLY IN METRO CITIES?
Yes, of course! But if you compute the yield over a long period of time, the investment is very good. It is attractive enough if one has the capital.The best part is that the risk is very low, if one does it in an organized way.
DO YOU THINK THIS MARKET WILL GROW AND MULTIPLE PLAYERS WILL JUMP INTO THE FRAY?
Yes! World over, as the economy of a country matures, the rental market grows in tandem with the outright sale-purchase market.
HOW DO YOU FIND THE PRESENT CONDITION OF THE REAL ESTATE MARKET IN THE COUNTRY, THE NCR IN PARTICULAR?
There is a huge opportunity in the real estate market in the country. But, right now, it is facing a huge challenge due to delay in completion of housing projects. But this will be sorted out soon.
WHO IS TO BLAME FOR THE DELAY IN OFFERING POSSESSIONS?
Delay in possession of flats is a big concern today. Any delay leads to cost escalation and increase in the base value of the housing project.
So who is responsible? We cannot pin the blame on any one particular party or on one reason for this. There are multiple reasons: unnecessary interference by local development authorities, lack of physical infrastructure at the time of construction, shortage of cash flow, etc.
But, ultimately, developers have to shoulder the responsibility in completing projects.
HOW IS THE MARKET? IS IT A GOOD TIME TO BUY OR INVEST IN PROPERTY?
There is no dearth of transactions in the residential segment, as buyers still flock to responsible developers who stand by their commitment on timely delivery.
This is best time to buy, as the prices have come into the affordable range in several pockets of Noida and Gurgaon. If you are awaiting further price correction, it is not possible.
We can say without a doubt that the customer is wide awake now and is well aware about his rights. The real Estate market once considered the safest and profitable form of investment is now take a risky turn with over supply of projects and apartments. And this over supply is a result of builders playing smart and investing the money on newer plots and projects instead of finishing the current ones. The funds received from buyers of 1 project is utilized to start another one.
With this becoming the common trend possession dates are being pushed every year. In few of these instances some do have genuine reasons for example delays caused getting government approvals, sewage pipes, water facilities etc. but in others builders have stopped responding to buyers’ appeals. But now people are taking the matter into their own hands and have started filing lawsuits and finding methods to get the project finished. The National Consumer Forum has taken strict actions and have imposed penalties on them for delaying possession. Severe actions have been taken against well-known builders in Ghaziabad, Greater Noida, Noida and Mumbai. The end effects included the return of the money of the home buyers with an additional interest.
With increasing number of such cases the builders are now trying their level best to race towards the finishing line in order to provide possession and are being careful in providing tentative dates since the effects can be disastrous.
The race is difficult for those builders who are spreading their hands in many projects although there are still many builders who are focusing on limited number of projects, the reason behind this is to provide what they have promised and not compromise on the quality or the delivery date promised. Out of the pool only a handful are focused on delivery and not on quantity. Customers are filing cases against developers for false promises, forfeiture of booking amount, not providing amenities as per the change and contract of project layout without consent. While some of the builders have even surpassed their possession dates by 2-3 years while some have provided early possession as well.
For any other query contact us on 8800688677, 8800688166 or thearthah@thaparindia.com
In Vaishali, Ghaziabad, Thapar builders are coming up with a new project ‘The Arthah’. They are utilizing all their resources in the same project in order to provide the highest building in Vaishali which can redefine luxury. With exquisite amenities, facilities and quality the project will be made available for possession within 2017. They are focused and are striving to provide you the promised quality according to the promised timeline.
The concept of circle rate and its calculation has been a highly debatable issue. To make it simpler for everyone the circle rate is the minimum valuation done by the government for a particular property which is used at the time of registration. The recent fall in circle rate in Gurgaon( New Name: Gurugram) by 15% was majorly caused by the persisting slow market conditions. Circle rates are reduced to bridge the gap between ongoing price of the property and its government valuation. The ongoing market price is determined by the demand and supply of the property as since there has been an oversupply in the market and with the trembling issues of trust with the real estate market the Haryana Government had no better alternative in order to change the current market scenario.
But will this move be successful to again accelerate the growth pace of Gurgaon? Will markets like Ghaziabad, Noida, Greater Noida follow this move?
The circle rate reduction will not necessarily make homes cheaper for everyone. The major effect would be the reduction in stamp duty and registration charge which may not be enough to revert the scenario. Circle rates at both extremes (high or low) can be quiet disadvantageous. Property prices dropping might destroy the environment of housing with more people indulging in cash transactions, higher circle rates might discourage end users.
Another problem with circle rate in Gurgaon is that in few locations the circle rate is more than the market rate while in some locations the market rate is more than the circle rate. A person who buys a property whose circle rate is more compared to market rate have to thus pay a higher amount of stamp duty and registration charge which will be excruciating.
Noida recently increased its stamp duty from 5 to 7% and Ghaziabad has tried increasing the circle rate by a negligible amount but after seeing the effect of the strategy used by Haryana government will UP government try to run the same path?
Ghaziabad is considered to be the most suitable and affordable area to invest in Delhi NCR. Within Ghaziabad, Vaishali has seen the highest increase in the capital valuation. The area enjoys a superior accessibility as well as feasibility quotient. With 0 km distance from Delhi Border it is a convenient location be it related to facilities of metro, malls, or better locality.
Within the heart of Vaishali, in Sector 4, Thapar builders have come up with a new project, ‘The Arthah’ which is a luxury apartment with all modern facilities which includes amenities like split level parking, high speed elevators, tennis and badminton court, private rooftop deck and pool.
For any other query contact us on 8800688677, 8800688166 or thearthah@thaparindia.com
There is quite a lot of difference in real estate property if we come this time with the rest of the months. This season brings a great opportunity for homebuyers to get valuable insights on their intended purchase. Before making any final decision to buy a property the real estate experts suggest that the home seekers should visit the construction site more than once.
Issues related to seepage in washrooms is very common during rains which cannot be checked while buying a house in any other season. It has happened that people after buying a house spend so much on the issue of wet walls which they were not able to catch hold of at the time of buying. Construction flaws are easily revealed during heavy rains. One should only go ahead with buying any property when he is assured that the property can withstand the elements of mother nature.
Also, if one sees issues of leakages in the house, it gives the buyer an advantage to negotiate on the same. The lean period of the realty sector is the monsoon season. This is that very period when the demand is pretty low and sellers are also willing to negotiate on prices for serious buyers. This is certainly not possible when the weather is dry as the demand jumps up.
Due to this dip in demand during monsoons the sellers load the home buyers with various discounts and provide attractive offers. The Arthah, by Thapar group is a residential project based company in the real estate industry. They help you buy a property which imparts meaning to life. The Arthah provides amenities such as modern wooden flooring, convenient modular kitchen, high end bathroom fittings, split level parking spaces and much more. The main focus of this project lies in providing quality at best prices to the home buyers.
For any other query contact us on 8800688677, 8800688166 or thearthah@thaparindia.com
The margin can vary from ten percent to twenty-five percent and there are various ways for a home buyer to achieve the same. The loan amount does not get sanctioned for the entire amount of the property that the homebuyer is buying. Moreover, the lenders are not allowed to take into account the stamp duty and registration charges, while computing the cost of the property.
The first way for the home buyer to raise the margins is by liquidating the past savings or they may also take a loan against the securities. This is the main source to finance margin money for most of the home buyers. There may be different forms of savings which include fixed deposits, funds in bank accounts, investments, mutual funds etc. which can be easily liquidated as per the requirements of the homebuyer. There are times when the prices of your investment in shares or mutual funds may not be good in the market. In this kind of a situation it is advised that one should try the overdraft facility against the security of assets or may avail a loan instead of selling the assets at a low price. This should also be kept in mind that not all shares or mutual funds qualify for the overdraft facility. There is generally a list of shares or mutual fund schemes with the lenders which they can lend.
The second way to increase margins is to take a loan on your life insurance policies. If the insurance policy is not pure term plan, then one can get a loan against it which is of course subject to some conditions. To buy a house EPF and PPF funds can also be used. If five years of contribution to your provident fund is done, then the rule allows you to partially withdraw money from the account.
As a last resort, to fund your margin money one can also take a personal loan. The timing of the loan should be decided with a lot of care in this case. If you have availed of the personal loan before the home loan, your personal loan will reflect in your credit report and this will impact your home loan eligibility, as the home loan lender will take into account the EMIs of your personal loan. Any default in the payment of the EMI’s affect the credit score strongly.
The Arthah, by Thapar group is a residential project based company in the real estate industry. They help you buy a property which imparts meaning to life. The Arthah provides amenities such as modern wooden flooring, convenient modular kitchen, high end bathroom fittings, split level parking spaces and much more. The main focus of this project lies in providing quality at best prices to the home buyers.
For any other query contact us on 8800688677, 8800688166 or thearthah@thaparindia.com
