Real Estate- Durgamagriha

Share Button

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.