How can new-age real estate companies bail out stalled Indian real estate projects?

India’s real estate market significantly contributes to the lion’s share of the nation’s economic progression. In the residential real estate sector, companies majorly get customers from all segments as housing is a need rather than a discretion. Additionally, it’s also considered one of the safest and easiest ways of investing in a developing economy like India. Average Indian property seekers generally overspend while buying a house as it embraces several emotional aspects over financial matters. These homebuyers invest their lifelong savings in affording their dream homes. Leading real estate firms often entice them with myriad offers to finalise their purchasing decisions, which currently is considered a Ponzi scheme by the government regulatory bodies. However, despite their long-term investment, homebuyers become the victims of severely delayed and stalled housing projects across several Indian cities like NCR, Lucknow, Mumbai, Bengaluru, Chennai, Hyderabad, Pune, etc.

Today, incomplete projects have emerged as the most complicated issue that shatters the dreams of millions of homebuyers. Such a prevailing unfortunate scenario compels countless homebuyers to go through a plight that haunts India’s real estate market.

The current scenario of India’s stalled residential projects

Stalled/delayed projects have been the bane of the Indian real estate industry over the past decade. As the hub of stalled real estate projects, a recent analysis states that India has around 500,000 housing projects worth INR 4.48 Lakh Crore stuck across seven micro markets. Other reports also highlight that the National Capital Region (NCR) leads in terms of the highest number (113,860) of stalled projects, followed by the Mumbai Metropolitan Region (MMR) with 41,720 delayed units. The worst affected are those who have already purchased living spaces in Noida and Greater Noida. According to Anarock, these two cities have more than 1.65 lakh stalled flats worth Rs 1.18 lakh. Besides, the Gurugram market has INR 44,455 Crore of 30,733 stalled/stuck units, and Ghaziabad has 22,128 such projects valued at Rs 9,254 Crore.

Factors adding to the delay of real estate projects

Various reasons contribute to the delay in housing units. First and foremost, the highly unregulated and traditional approach of the real estate market is the primary reason behind the slowdown of housing projects. Due to such a callous approach, most builders start building projects without due diligence. This situation ultimately pushes the projects to get mired in several litigations. Moreover, delays occur when the banks do not finance the purchased land, and consequently, developers tend to transfer amounts from one project to another. They continue this approach until their system lack funds and are aided by substantial money transactions. Furthermore, the problems of economic slowdown and trouble faced by NBFCs in securing a credible funding source make the situation worse for real estate developers.

As a result, builders cannot fulfil their tall claims of delivering residential properties on time to customers who have already paid a considerable amount to the developer. Many homebuyers have to wait for over ten years to get their home ready after investing their life savings and bank loans. Some residents even have to pay EMIs without being the house owners and with no hope of getting possession of their place soon. These worrisome woes make lakhs of homebuyers feel distressed and uncertain about their future and the real estate market.

Are there any potential solutions to this prevailing situation?

The Union Cabinet had set up an Alternative Investment Fund (AIF) of INR 25,000 Crore in 2019 to bail out almost 1,600 stalled real estate properties (comprising 4.58 lakh housing units) across the country and boost the economy. Besides, new-age real estate companies are also entering the market to revive homeowners’ lost hope and trust by bailing out stalled/stuck projects in various Indian regions (like NCR and Lucknow). They are putting strenuous efforts into reviving such failed projects and transforming them into best-in-class, affordable properties with world-class amenities. However, the body that assigns the projects belonging to the companies under Insolvency (like NCLT in India) must be sure about the company credentials who express interest in completing these stalled projects. In the case of non-verification of developer credentials by referring to the customer satisfaction index and general feedback in the market, the evaluation process should be exceptionally robust to weed out non-performing developers. 

Final words

When existing developers fail to deliver projects on time, the new-age real estate developers can be the ideal solution to the age-old problem of stalled projects in India, backed by the Central Government’s support. Unlike other real estate companies, these firms are a group of specialists with enormous confidence and skill sets around their core competencies required for completing stuck projects and making them dream homes. An example of successful completion of such projects is in Lucknow, where new-aged real estate organisations have constituted a joint venture/acquisition of the defaulter company and delivered these projects with remarkable success. These organisations specifically cater to bail out stalled/delayed projects and enable their completion to fulfil residents’ dreams of staying in safe, reliable, and affordable living spaces. The passion for introducing new creations and compassion towards people helps and motivates these new-aged companies to keep going. 

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Incomplete residential real estate projects are a significant problem in India, shattering the home-buying dreams of lakhs of buyers every year. Witnessing this prevailing complicated scenario, Urban Axis Infratech, a new-age Lucknow-based real estate company, has come into the spotlight to bail out stalled projects and revive the lost hope of people getting their dream homes. The company has recently bailed out two stuck projects (Luvnest and Urban Woods) in Lucknow and provided living spaces to nearly 600 families through its novel ventures. After recording tremendous success in the region, the company now eyes to complete stalled housing projects in the NCR region.

Multiple real estate projects in India are often mired in legal problems and are stalled for countless years. The unregulated and traditional approach of the real estate sector is the primary reason behind the delay that enables builders to initiate projects without proper scrutiny. Financing problems from banks and economic slowdown further add to this problem. As a result, home buyers have to wait several years to move into their new homes. Some are even forced to pay their home loan EMIs without being the actual owners of their properties. As NCR is a region where three-fourths of such stalled projects are located, Urban Axis intends to give them a new life and later provide safe, secure, and comfortable homes to the people on time.

Shashank Gupta, executive CMD, Urban Axis Infratech, said, “At Urban Axis, we are committed to providing contemporary and affordable residential spaces to India’s middle-class and upper-middle-class sections. We specialise in bailing out failed/stuck projects and facilitating their completion. As we step into NCR, we plan to help clear stalled projects in this space, followed by Lucknow, so families can fulfill their dream of owning a home on time. Moreover, Urban Axis’ commitment to developing projects in line with the needs of the customers and market demands will also contribute to the urban development of NCR.”

Urban Axis Infratech Limited was founded in 2015 by an IITian, Shashank Gupta, under the guidance of his father, KB Gupta. It is on a mission to bail out stuck/failed projects and transform them into modern and affordable living spaces which offer best-in-class and ultra-luxurious amenities.

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10 companies that have changed the game in their respective fields see who made the cut!

• FiveScribe is a game-changer in the world of automated service and support. Their offering of Stucii
  PlayStations Plus Deluxe Membership at nearly half the price of any competition makes them a popular
  choice for gamers. But it’s not just their competitive pricing that sets them apart. The high quality of their
  product management, sales, and impeccable service are unmatched. FiveScribe offers an experience that is
  streamlined, efficient, and tailored to meet the unique needs of each customer. With FiveScribe, gamers can
  rest assured they are getting the best value and support for their gaming needs.
• RoyalEV has launched its latest electric vehicle, the Trango, which features a safe and stable LFP battery
  that can be connected to a mobile app for monitoring and performance analysis. The Trango is a smart and
  active vehicle that optimizes its performance and efficiency through artificial intelligence. Equipped with
  powerful hub motors, the Trango is an affordable and environmentally friendly high-speed vehicle. RoyalEV is
  committed to social awareness and green energy research, offering paid internships to polytechnic students
  and promoting a sustainable future under the leadership of CEO Mr. Viswanath Kari.
• Thinkster is a leading advertising agency that specializes in crafting innovative and effective advertising
  solutions that elevate brands to new heights. With a laser focus on strategic thinking, their team of
  experienced designers, writers, and marketing experts work closely and develop campaigns that are tailored
  to specific needs and goals. Their expertise lies in designing and implementing creative strategies that
  captivate audiences, build brand loyalty, and drive sales. They have been serving since more than 5 years.
• Safaiwale is a cleaning service provider that offers top-notch cleaning services using environmentally
  friendly products that are safe for both people and the planet. They specialize in eco-friendly deep cleaning
  services for both domestic and commercial spaces. Their services include housekeeping, floor, bathroom and
  kitchen cleaning, as well as corporate, restaurant, hotel, office, school, pest control and bird netting services.
  Safaiwale uses a team of skilled and experienced professionals who are well-trained under industry experts to
  ensure quality. They prioritize completing their work efficiently with the latest technology, modern equipment,
  and natural and organic products. By using eco-friendly cleaning products, they help keep spaces healthier,
  more sustainable, and less damaging to the environment.
• CourseMentor offers a comprehensive range of study abroad services, including study abroad consultancy,
  PTE exam voucher, PTE exam booking, online PTE mock tests, financial arrangements, online & offline
  IELTS coaching. The platform connects students with experienced study abroad consultants who can guide
  them through the entire process of applying to universities and obtaining visas. With extensive knowledge of
  universities and programs around the world, the consultants at CourseMentor.com can help students find the
  right fit for their study abroad goals without incurring any additional costs. Moreover, they provide PTE exam
  bookings at the lowest cost, and you can also get PTE exam voucher on their website. Visit
  https://coursementor.com/pte-exam-voucher for more information.
• Urban Axis Infratech, led by an IITian Shashank Gupta, has announced a massive investment of 1,600 CR
  in Uttar Pradesh during the UP Global Investors Summit held in Lucknow. The company’s mission is to
  provide modern, affordable living spaces with best-in-class amenities to people. With their USP to bail out
  stuck projects and transform them into successful ventures they want to fulfil people’s dream of owning a
  house. With their recent successful completion of the Luvnest and Urban Woods projects in Lucknow, Urban
  Axis is well positioned to bring its unique brand of affordable and premium living to Uttar Pradesh. This
  investment is a major boost for the state’s real estate sector and is a testament to the government’s business friendly environment.
• Whitespace Brand Consulting is a leading design and brand marketing agency that specializes in creating
  industry-leading brands for businesses of all sizes. At WSBC a simple but effective approach is an in-depth
  consumer research to understand the needs and preferences of the target audience which helps in creating
  well-structured strategies that are tailored to the specific goals and challenges of each client. The team create
  handcrafted designs that deliver pragmatic solutions with defined growth trajectories. Their designs are
  thought-provoking, and the branding solutions are result-oriented helping in building long-term relationships
  with the clients.Founder Sanju P has worked with almost 100+ brands throughout his career and has been
  recognized as one of the 100 most influential people by Entrepreneur Stories.
• Running a business or office today comes with both abundance of knowledge, resources and opportunities,
  as well as limited time to achieve everything. This is where PR agencies like Maxxo Creative come in, offering
  services such as Brand Integration, Influencer Marketing, Celebrity Influencer Marketing, Digital Marketing,
  Advertising Branding ,PR, Celebrity Management & Film Studios. They are one of the best / Leading in Film
  Pr Promotions and Marketing. Maxxo creative Led by marketing expert Huwais Majeed, the Kochi-based
  agency has become one of the most popular choices for handling business PR needs in South India. Their
  hands-on approach and focus on creating impactful content across various digital platforms has helped them
  carve a niche in the industry.
• NotBot provides custom Whatsapp Chatbots & automation for Businesses of all sizes across all the
  industries like Medical, Education, Logistics, E-Commerce, Fintech, etc. Currently catering to 200+ clients
  from 10+ countries. A few of our renowned clients using our Whatsapp Business API solutions are Signature
  Global, EdgeAI, Paapos, Surepass, Indomie, CactusVerify, etc. Some of the use cases of automation on
  WhatsApp are Appointment booking, KYC, delivery updates, venue reservations, payment for subscriptions,
  etc. If you are a company running on the internet, we have automation for you.
• Dr. Jaydev Dental is one of the best dental clinics in Hyderabad, providing exceptional dental care
  services. They specialize in Smile Designing, ensuring their patients have the brightest smiles. The clinic has
  recently won the Time Health Excellence Award 2022 from the Times Group, recognizing their commitment to
  providing top-quality dental care. The team of experienced and skilled dental professionals at Dr. Jaydev
  Dental is dedicated to offering personalized care to each patient. They use state-of-the-art technology and
  modern techniques to deliver the best results possible. Visit Dr. Jaydev Dental today for a beautiful and
  healthy smile.

Source link  >>

10 companies that have changed the game in their respective fields see who made the cut!

• FiveScribe is a game-changer in the world of automated service and support. Their offering of Stucii
  PlayStations Plus Deluxe Membership at nearly half the price of any competition makes them a popular
  choice for gamers. But it’s not just their competitive pricing that sets them apart. The high quality of their
  product management, sales, and impeccable service are unmatched. FiveScribe offers an experience that is
  streamlined, efficient, and tailored to meet the unique needs of each customer. With FiveScribe, gamers can
  rest assured they are getting the best value and support for their gaming needs.
• RoyalEV has launched its latest electric vehicle, the Trango, which features a safe and stable LFP battery
  that can be connected to a mobile app for monitoring and performance analysis. The Trango is a smart and
  active vehicle that optimizes its performance and efficiency through artificial intelligence. Equipped with
  powerful hub motors, the Trango is an affordable and environmentally friendly high-speed vehicle. RoyalEV is
  committed to social awareness and green energy research, offering paid internships to polytechnic students
  and promoting a sustainable future under the leadership of CEO Mr. Viswanath Kari.
• Thinkster is a leading advertising agency that specializes in crafting innovative and effective advertising
  solutions that elevate brands to new heights. With a laser focus on strategic thinking, their team of
  experienced designers, writers, and marketing experts work closely and develop campaigns that are tailored
  to specific needs and goals. Their expertise lies in designing and implementing creative strategies that
  captivate audiences, build brand loyalty, and drive sales. They have been serving since more than 5 years.
• Safaiwale is a cleaning service provider that offers top-notch cleaning services using environmentally
  friendly products that are safe for both people and the planet. They specialize in eco-friendly deep cleaning
  services for both domestic and commercial spaces. Their services include housekeeping, floor, bathroom and
  kitchen cleaning, as well as corporate, restaurant, hotel, office, school, pest control and bird netting services.
  Safaiwale uses a team of skilled and experienced professionals who are well-trained under industry experts to
  ensure quality. They prioritize completing their work efficiently with the latest technology, modern equipment,
  and natural and organic products. By using eco-friendly cleaning products, they help keep spaces healthier,
  more sustainable, and less damaging to the environment.
• CourseMentor offers a comprehensive range of study abroad services, including study abroad consultancy,
  PTE exam voucher, PTE exam booking, online PTE mock tests, financial arrangements, online & offline
  IELTS coaching. The platform connects students with experienced study abroad consultants who can guide
  them through the entire process of applying to universities and obtaining visas. With extensive knowledge of
  universities and programs around the world, the consultants at CourseMentor.com can help students find the
  right fit for their study abroad goals without incurring any additional costs. Moreover, they provide PTE exam
  bookings at the lowest cost, and you can also get PTE exam voucher on their website. Visit
  https://coursementor.com/pte-exam-voucher for more information.
• Urban Axis Infratech, led by an IITian Shashank Gupta, has announced a massive investment of 1,600 CR
  in Uttar Pradesh during the UP Global Investors Summit held in Lucknow. The company’s mission is to
  provide modern, affordable living spaces with best-in-class amenities to people. With their USP to bail out
  stuck projects and transform them into successful ventures they want to fulfil people’s dream of owning a
  house. With their recent successful completion of the Luvnest and Urban Woods projects in Lucknow, Urban
  Axis is well positioned to bring its unique brand of affordable and premium living to Uttar Pradesh. This
  investment is a major boost for the state’s real estate sector and is a testament to the government’s business friendly environment.
• Whitespace Brand Consulting is a leading design and brand marketing agency that specializes in creating
  industry-leading brands for businesses of all sizes. At WSBC a simple but effective approach is an in-depth
  consumer research to understand the needs and preferences of the target audience which helps in creating
  well-structured strategies that are tailored to the specific goals and challenges of each client. The team create
  handcrafted designs that deliver pragmatic solutions with defined growth trajectories. Their designs are
  thought-provoking, and the branding solutions are result-oriented helping in building long-term relationships
  with the clients.Founder Sanju P has worked with almost 100+ brands throughout his career and has been
  recognized as one of the 100 most influential people by Entrepreneur Stories.
• Running a business or office today comes with both abundance of knowledge, resources and opportunities,
  as well as limited time to achieve everything. This is where PR agencies like Maxxo Creative come in, offering
  services such as Brand Integration, Influencer Marketing, Celebrity Influencer Marketing, Digital Marketing,
  Advertising Branding ,PR, Celebrity Management & Film Studios. They are one of the best / Leading in Film
  Pr Promotions and Marketing. Maxxo creative Led by marketing expert Huwais Majeed, the Kochi-based
  agency has become one of the most popular choices for handling business PR needs in South India. Their
  hands-on approach and focus on creating impactful content across various digital platforms has helped them
  carve a niche in the industry.
• NotBot provides custom Whatsapp Chatbots & automation for Businesses of all sizes across all the
  industries like Medical, Education, Logistics, E-Commerce, Fintech, etc. Currently catering to 200+ clients
  from 10+ countries. A few of our renowned clients using our Whatsapp Business API solutions are Signature
  Global, EdgeAI, Paapos, Surepass, Indomie, CactusVerify, etc. Some of the use cases of automation on
  WhatsApp are Appointment booking, KYC, delivery updates, venue reservations, payment for subscriptions,
  etc. If you are a company running on the internet, we have automation for you.
• Dr. Jaydev Dental is one of the best dental clinics in Hyderabad, providing exceptional dental care
  services. They specialize in Smile Designing, ensuring their patients have the brightest smiles. The clinic has
  recently won the Time Health Excellence Award 2022 from the Times Group, recognizing their commitment to
  providing top-quality dental care. The team of experienced and skilled dental professionals at Dr. Jaydev
  Dental is dedicated to offering personalized care to each patient. They use state-of-the-art technology and
  modern techniques to deliver the best results possible. Visit Dr. Jaydev Dental today for a beautiful and
  healthy smile.

Source link  >>

10 companies that have changed the game in their respective fields see who made the cut!

• FiveScribe is a game-changer in the world of automated service and support. Their offering of Stucii
  PlayStations Plus Deluxe Membership at nearly half the price of any competition makes them a popular
  choice for gamers. But it’s not just their competitive pricing that sets them apart. The high quality of their
  product management, sales, and impeccable service are unmatched. FiveScribe offers an experience that is
  streamlined, efficient, and tailored to meet the unique needs of each customer. With FiveScribe, gamers can
  rest assured they are getting the best value and support for their gaming needs.
• RoyalEV has launched its latest electric vehicle, the Trango, which features a safe and stable LFP battery
  that can be connected to a mobile app for monitoring and performance analysis. The Trango is a smart and
  active vehicle that optimizes its performance and efficiency through artificial intelligence. Equipped with
  powerful hub motors, the Trango is an affordable and environmentally friendly high-speed vehicle. RoyalEV is
  committed to social awareness and green energy research, offering paid internships to polytechnic students
  and promoting a sustainable future under the leadership of CEO Mr. Viswanath Kari.
• Thinkster is a leading advertising agency that specializes in crafting innovative and effective advertising
  solutions that elevate brands to new heights. With a laser focus on strategic thinking, their team of
  experienced designers, writers, and marketing experts work closely and develop campaigns that are tailored
  to specific needs and goals. Their expertise lies in designing and implementing creative strategies that
  captivate audiences, build brand loyalty, and drive sales. They have been serving since more than 5 years.
• Safaiwale is a cleaning service provider that offers top-notch cleaning services using environmentally
  friendly products that are safe for both people and the planet. They specialize in eco-friendly deep cleaning
  services for both domestic and commercial spaces. Their services include housekeeping, floor, bathroom and
  kitchen cleaning, as well as corporate, restaurant, hotel, office, school, pest control and bird netting services.
  Safaiwale uses a team of skilled and experienced professionals who are well-trained under industry experts to
  ensure quality. They prioritize completing their work efficiently with the latest technology, modern equipment,
  and natural and organic products. By using eco-friendly cleaning products, they help keep spaces healthier,
  more sustainable, and less damaging to the environment.
• CourseMentor offers a comprehensive range of study abroad services, including study abroad consultancy,
  PTE exam voucher, PTE exam booking, online PTE mock tests, financial arrangements, online & offline
  IELTS coaching. The platform connects students with experienced study abroad consultants who can guide
  them through the entire process of applying to universities and obtaining visas. With extensive knowledge of
  universities and programs around the world, the consultants at CourseMentor.com can help students find the
  right fit for their study abroad goals without incurring any additional costs. Moreover, they provide PTE exam
  bookings at the lowest cost, and you can also get PTE exam voucher on their website. Visit
  https://coursementor.com/pte-exam-voucher for more information.
• Urban Axis Infratech, led by an IITian Shashank Gupta, has announced a massive investment of 1,600 CR
  in Uttar Pradesh during the UP Global Investors Summit held in Lucknow. The company’s mission is to
  provide modern, affordable living spaces with best-in-class amenities to people. With their USP to bail out
  stuck projects and transform them into successful ventures they want to fulfil people’s dream of owning a
  house. With their recent successful completion of the Luvnest and Urban Woods projects in Lucknow, Urban
  Axis is well positioned to bring its unique brand of affordable and premium living to Uttar Pradesh. This
  investment is a major boost for the state’s real estate sector and is a testament to the government’s business friendly environment.
• Whitespace Brand Consulting is a leading design and brand marketing agency that specializes in creating
  industry-leading brands for businesses of all sizes. At WSBC a simple but effective approach is an in-depth
  consumer research to understand the needs and preferences of the target audience which helps in creating
  well-structured strategies that are tailored to the specific goals and challenges of each client. The team create
  handcrafted designs that deliver pragmatic solutions with defined growth trajectories. Their designs are
  thought-provoking, and the branding solutions are result-oriented helping in building long-term relationships
  with the clients.Founder Sanju P has worked with almost 100+ brands throughout his career and has been
  recognized as one of the 100 most influential people by Entrepreneur Stories.
• Running a business or office today comes with both abundance of knowledge, resources and opportunities,
  as well as limited time to achieve everything. This is where PR agencies like Maxxo Creative come in, offering
  services such as Brand Integration, Influencer Marketing, Celebrity Influencer Marketing, Digital Marketing,
  Advertising Branding ,PR, Celebrity Management & Film Studios. They are one of the best / Leading in Film
  Pr Promotions and Marketing. Maxxo creative Led by marketing expert Huwais Majeed, the Kochi-based
  agency has become one of the most popular choices for handling business PR needs in South India. Their
  hands-on approach and focus on creating impactful content across various digital platforms has helped them
  carve a niche in the industry.
• NotBot provides custom Whatsapp Chatbots & automation for Businesses of all sizes across all the
  industries like Medical, Education, Logistics, E-Commerce, Fintech, etc. Currently catering to 200+ clients
  from 10+ countries. A few of our renowned clients using our Whatsapp Business API solutions are Signature
  Global, EdgeAI, Paapos, Surepass, Indomie, CactusVerify, etc. Some of the use cases of automation on
  WhatsApp are Appointment booking, KYC, delivery updates, venue reservations, payment for subscriptions,
  etc. If you are a company running on the internet, we have automation for you.
• Dr. Jaydev Dental is one of the best dental clinics in Hyderabad, providing exceptional dental care
  services. They specialize in Smile Designing, ensuring their patients have the brightest smiles. The clinic has
  recently won the Time Health Excellence Award 2022 from the Times Group, recognizing their commitment to
  providing top-quality dental care. The team of experienced and skilled dental professionals at Dr. Jaydev
  Dental is dedicated to offering personalized care to each patient. They use state-of-the-art technology and
  modern techniques to deliver the best results possible. Visit Dr. Jaydev Dental today for a beautiful and
  healthy smile.

Source link >>

Real estate hotspot in the making!

In a city full of age-old heritage structures reflecting the design expertise of the ancient masons to new-age buildings empowered by the rising aspirations of white-collar professionals, the real-estate story in Lucknow is at a turning point. From Bara Imambara to Chota Imambara that reflect the intricacies of Mughal architecture to Rumi Darwaza and Vidhaan Bhawan, which constitute an exposition of Awadhi and the Indo-European style of architecture, Lucknow is a cultural potpourri and the contemporary metropolis of Uttar Pradesh. Though the city evokes nostalgia in the hearts of history and poetry lovers, not to mention foodies, there’s so much more to it – a lot of it to do with its ongoing infrastructure development. Lucknow’s connectivity with other cities is being fostered by the highways and expressways being built in Uttar Pradesh. Within the city, the metro-railis forging an avenue of transformation.Real-estate players are keen to capitalise on these developments and the time seems just right. “Lucknow has a lot of potential and after the pandemic, the market is in a positive mode,” says SK Garg, Chairman, CREDAI, Uttar Pradesh.“I am really happy with the infrastructure upgrade that the state of Uttar Pradesh and the city of Lucknow are witnessing. It will definitely makeLucknow one of the most sought-after real-estate destinations in Uttar Pradesh in times to come. The commercial market is slow; residential is doing well. I just hope there is more land available close to the metro stations as it would allow developers to capitalise in a better way.” Real-estate development in Lucknow is also spurred by increasing consumer aspiration.“A significant economic and behavioural shift is propelling the rise of the Lucknow housing market,” agrees Shashank Gupta, Executive Chairman and Managing Director, Urban Axis Infratech.“The trends clearly show that the aspirational consumer is going beyond metropolitan areas that offer an opulent lifestyle in addition to sustainability and wellness factors. A flurry of infrastructural development, good connectivity, vibrant open spaces and cultural history have established Lucknow as a top real-estate destination, with demand increasing across the gamut. Despite the detrimental effects of the pandemic, the real-estate market has seen great growth, with homebuyers and developers continuing to express interest in investing. The city has seen a major boom in the real-estate market in the past two years, with property prices rising by 25-50 per cent.” Highlighting the role of expressways and metro railways in the growth of the Lucknow real-estate market, Ravi Nirwal, Sales Director & Principal Partner – North India, Square Yards,says, “Infrastructure always plays a vital role in the overall development of a city and with expressway, highwaysand metro it becomes easier. With Yamuna Expressway (Noida to Lucknow via Agra), Ganga Expressway (Meerut to Prayagraj) and Bundelkhand Expressway (Delhi to Patna via Lucknow) would be a super success for the development of the city. Areas like Gomti Nagar extension and nearby would be prime movers over the next couple of years.” “The metro railway has given a lot of impetus to areas like Faizabad Road, Kanpur Road, Sultanpur Road and Rae Bareli Road,” according to Abhai Mani Chaturvedi, Vice President – Research, Anarock Group.“Ample land parcels are available in these areas for developers to capitalise on. Moreover, the remaining phases of the metro railway will become operational in three to seven years, which will furtherescalate the price of properties in these areas. As of now, prime areas in and in around Lucknow worth taking note of are Gomti Nagar Extension, Sushant Gold City, Faizabad Road, Vrindavan Yojana and Mohanlalganj.” Apart from the metro railway, the Ring Road, too, has too has turned Lucknow into a viable real-estate destination. “Emerging regions like The Outer Ring Road (ORR)are fast becoming the epicentre of the investment valley,” says Siddharth Katyal, Group Director, Omaxe Ltd. “The ORR connects to five national and six state highways, thereby providing connectivity to adjoining cities like Rae Bareli, Kanpur, Sultanpur, Faizabad, Agra, Hardoi, Sitapur, religious cities like Prayagraj, Varanasi and Ayodhya, and even Delhi.” It is also important to take into account that Lucknow is playing an integral role in Uttar Pradesh’s march towards itsgoal of becoming a $1-trillion economy. The city contributes 3.85 per cent of the state’s GDP so it’s no wonder that developers are keen to execute projects there. “The market potential, marketability and demand for housing units in Lucknow are good and we are keen to execute projects on a joint venture basis,” shares Pravin Jain, Chairman, Parsvnath Developers. “The demand curve in residential real estate is currently being driven by the affordable and luxury segments. Areas like Hazrat Nagar and Gomti Nagar have become expensive but thanks to the infrastructure upgrade, it is easy to commute to and from affordable areas like Airport Road and Uattardhona to Lucknow. So,it is fair to say that Lucknow is also having an impact on the development of real estate in adjoining areas and cities.” Though the real-estate market in Lucknow is primarily being driven by residential and retail, going forward, there will be opportunities in the commercial segment too. Gomti Nagar is now developing as both a commercial and IT hub of mainland Lucknow. Until now, Central Lucknow, consisting of Hazratganj, Vidhan Sabha Marg and Ashok Marg, was the main commercial area. Commenting on this development Chaturvedi points out,“Companies like HCL and TCS have now taken note of Lucknow and have started opening up, more so because they are getting office spaces at better rates.” Going by current trends, Lucknow will emerge as a real-estate hotspot of Central India in the long run. So before prices escalate further, try your luck now!

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रियल एस्टेट बाजार में अनसोल्ड इन्वेंट्री सबसे गंभीर समस्याओं में से एक है। विडंबना यह है कि बड़े पैमाने पर आवास की कमी वाले देश में, बिना बिके आवास की कमी भी समस्या बढ़ती जा रही है। वर्तमान में, रियल एस्टेट क्षेत्र में 30 मिलियन से अधिक आवास इकाइयों की कमी है।

रियल एस्टेट बाजार में अनसोल्ड इन्वेंट्री सबसे गंभीर समस्याओं में से एक है। विडंबना यह है कि बड़े पैमाने पर आवास की कमी वाले देश में, बिना बिके आवास की कमी भी समस्या बढ़ती जा रही है। वर्तमान में, रियल एस्टेट क्षेत्र में 30 मिलियन से अधिक आवास इकाइयों की कमी है। इसके विपरीत, टॉप दस शहरों में बिना बिके हाउसिंग यूनिट्स की संख्या करीब 7 लाख से भी ज्यादा है। कम से कम 30 शहरों में यह संख्या दोगुनी हो जाती है। कोलियर्स इंडिया की रिपोर्ट के अनुसार, जनवरी से मार्च 2022 तक आठ शहरों में बिना बिकी इन्वेंट्री के स्टॉक में एक फीसदी से 9.01 लाख यूनिट की मामूली वृद्धि हुई। यह बताता है कि भारतीय रियल एस्टेट बाजार में बढ़ती अनसोल्ड इन्वेंट्री संख्या के साथ हर साल नए लॉन्च भी बाजार की समस्या का समाधान नहीं कर पा रहे है। भारतीय रियल एस्टेट बाजार में बिना बिकी इन्वेंट्री इकाइयों में कई कारक योगदान करते हैं।

इन्वेंट्री का शीर्ष कारण अफोर्डेबिलिटी
भारत में बिना बिके हाउसिंग इन्वेंट्री का शीर्ष कारण अफोर्डेबिलिटी है। मुख्य समस्या तब शुरू हुई जब उपभोक्ताओं की मांग 1.5 बीएचके और 2 बीएचके घरों की थी, तब डवलपर्स ने 3 बीएचके और 4 बीएचके अपार्टमेंट की पेशकश की। साथ ही, घर खरीदारों को मध्य-श्रेणी के भीतर किफायती आवास की अत्यधिक आवश्यकता थी, जिसने बाजार में एक बेमेल स्थिति को पैदा किया। उदाहरण के तौर पर, घर के मालिकों को भी कानूनी निवारण के लिए लगभग कोई विकल्प नहीं होने के कारण अपनी संपत्ति को हासिल करने में गंभीर देरी का सामना करना पड़ता है। नतीजतन, घर खरीदने से पहले लोग कीमतों में कमी का इंतजार करते है।

अनसोल्ड इन्वेंट्री की बिक्री को बढ़ावा देने के लिए रियल एस्टेट बाजार त्योहारी सीजन पर बड़ा दांव लगा रहा है। डवलपर लंबे समय तक लॉकडाउन के कारण हुए अपने अधिकांश नुकसान से उबरने के लिए तैयार हैं। त्योहारों का मौसम आदर्श समय होता है जब मांग में परिवर्तन होता है, ग्रामीण और शहरी भारत में घर खरीदने का फैसला करते है। साथ में कुछ खरीदारी दिवाली को निवेश के लिए सबसे शुभ समय मानते हैं। एनारॉक रिसर्च रिपोर्ट के मुताबिक, त्योहारी सीजन में 2021 की चौथी तिमाही के दौरान डवलपर्स ने करीब 91,000 यूनिट्स की बिक्री की। संपत्ति अधिग्रहण और डवलपर लागत और ब्याज दरों में बढ़ोतरी के बावजूद विशेषज्ञों को 2022 में भी इस गति को जारी रखने की उम्मीद है। अर्बन एक्सिस इंफ्राटेक लिमिटेड के चेयरमैन और मैनेजिंग डायरेक्टर शशांक गुप्ता का कहना है कि रिकवरी करने के लिए, डवलपर्स और वित्तीय संस्थान होमबॉयर्स के लिए आकर्षक छूट और सौदे शुरू कर रहे हैं। इसके साथ ही, लग्जरी और प्रीमियम हाउसिंग सेगमेंट में भी कोविड के बाद भी तेजी देखी जा रही है। कीमतों में वृद्धि और 40 बीपीएस रेपो दर बढ़ने के बावजूद शीर्ष भारतीय शहरों में आवास की बिक्री चरम पर है।

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भारतीय रियल एस्टेट बाजार में बिना बिके घर बड़ी समस्या है। अधिक कीमत होने के चलते लोग घर नहीं खरीद पा रहे हैं। बाजार को उम्मीद है कि त्योहारी सीजन में बिना बिके घरों की संख्या में कमी आएगी।

भारतीय रियल एस्टेट बाजार में अनसोल्ड इन्वेंट्री (ऐसे घर जो बनने के बाद भी बिक नहीं पाए) सबसे गंभीर समस्याओं में से एक रही है। विडंबना यह है कि बड़े पैमाने पर घर की कमी वाले देश में बिना बिके आवास की कमी की समस्या बढ़ती जा रही है। वर्तमान में भारत के रियल एस्टेट क्षेत्र में 30 मिलियन से अधिक घरों की कमी है। इसके बाद भी टॉप 10 शहरों में बिना बिके हाउसिंग यूनिट्स की संख्या करीब 7 लाख है।

टॉप 10 के बाद बचे 30 बड़े शहरों में यह संख्या करीब 14 लाख है। कोलियर्स इंडिया की रिपोर्ट के अनुसार जनवरी से मार्च 2022 तक आठ शहरों में बिना बिके घर 9.01 लाख थे। भारतीय रियल एस्टेट बाजार में बिना बिके घरों के रह जाने के कई वजह हैं।

अफोर्डेबिलिटी है बड़ी परेशानी
भारत में घर नहीं बिक पाने की सबसे बड़ी वजह अफोर्डेबिलिटी है। मुख्य समस्या तब शुरू हुई जब उपभोक्ताओं की मांग 1.5 बीएचके और 2 बीएचके घरों की थी, लेकिन डेवलपर्स ने 3 बीएचके और 4 बीएचके अपार्टमेंट की पेशकश की। मिडिल क्लास के लोगों को किफायती घर की जरूरत थी। घर के मालिकों को भी कानूनी निवारण के लिए लगभग कोई विकल्प नहीं होने के कारण अपनी संपत्ति को हासिल करने में देरी का सामना करना पड़ता है। इसके चलते घर खरीदने से पहले लोग कीमतों में कमी का इंतजार करते हैं।

त्योहारी सीजन से है उम्मीद
रियल एस्टेट बाजार को उम्मीद है कि त्योहारी सीजन में बिना बिके घरों की संख्या में कमी आएगी। बिना बिके घरों को बेचने के लिए रियल एस्टेट बाजार त्योहारी सीजन (जैसे दिवाली) पर बड़ा दांव लगा रहा है। डेवलपर लंबे समय तक लॉकडाउन के कारण हुए अपने अधिकांश नुकसान से उबरने के लिए तैयार हैं। त्योहारों का मौसम आदर्श समय होता है जब मांग में परिवर्तन होता है, ग्रामीण और शहरी भारत में लोग घर खरीदने का फैसला करते है। साथ में कुछ खरीदारी दिवाली को निवेश के लिए सबसे शुभ समय मानते हैं।

एनारॉक रिसर्च रिपोर्ट के मुताबिक, त्योहारी सीजन में 2021 की चौथी तिमाही के दौरान डेवलपर्स ने करीब 91,000 यूनिट्स की बिक्री की। संपत्ति अधिग्रहण और डेवलपर लागत और ब्याज दरों में बढ़ोतरी के बावजूद विशेषज्ञों को 2022 में भी इस गति को जारी रखने की उम्मीद है।

मिल रहे आकर्षक ऑफर
अर्बन एक्सिस इंफ्राटेक लिमिटेड के चेयरमैन और मैनेजिंग डायरेक्टर शशांक गुप्ता ने कहा कि ” रिकवरी करने के लिए, डेवलपर्स और वित्तीय संस्थान त्योहारों के महीनों के दौरान अनसोल्ड इन्वेंट्री की बिक्री को बढ़ावा देने के लिए और अधिक बेहतर बनाने के लिए होमबॉयर्स के लिए आकर्षक छूट और सौदे (जैसे नकद छूट, बेहतर ईएमआई भुगतान विकल्प, आदि) शुरू कर रहे हैं। इसके साथ ही, लग्जरी और प्रीमियम हाउसिंग सेगमेंट में भी कोविड के बाद भी तेजी देखी जा रही है। कीमतों में वृद्धि और 40 बीपीएस रेपो दर बढ़ने के बावजूद शीर्ष भारतीय शहरों में आवास की बिक्री चरम पर है। इस तरह से त्योहारी सीजन भारतीय रियल एस्टेट क्षेत्र में चमक ला रहा है, और अधिक घर खरीद सौदे को सील करने के लिए आगे आ रहे हैं।”

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Festive cheers continue in the real estate market in Uttar Pradesh. The State RERA Authority registered a record 36 projects in September, with an accumulative worth of over Rs 3,640 crore. Of these, majority are residential projects , and the rest are commercial. Most of the new projects are coming up in non-National Capital Region (NCR) cities. 99acres shares the details below.

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) registered 36 new projects in the state in September 2022. This figure has set a new record as this is the highest-ever number of realty projects being registered in a single month. These projects have a total investment value of Rs 3648.35 crore. Over 70 percent of these new projects are located in non-NCR districts, signifying a new trend in State’s real estate markets.

Boost to residential inventory in the State

Out of the 36 projects registered, the lion’s share is held by residential real estate projects. A total of 6,931 housing units are proposed in 32 new residential constructions. The remaining are 1,185 units planned in four commercial projects.

Shift towards non-NCR regions

Traditionally, group housing and large residential projects have been concentrated in cities which are part of the National Capital Region (NCR). However, the latest numbers show a gradual shift towards non-NCR markets.

Out of the total projects sanctioned by UP-RERA, 24 are from non-NCR cities, constituting over 70 percent share. In 2017, this share was around 50 percent. This implies a uniform growth of real estate markets across the State.

Maximum projects have been registered in Agra and Lucknow (four), whereas Vrindavan, Moradabad and Kanpur have got approvals for three new projects each. Gorakhpur, in North UP, has got registrations for two new projects. One new project has been approved for the districts of Varanasi,

Jhansi, and Prayagraj. Even districts like Badaun and Gonda have been represented in this list with one new project each, even though big housing projects were not in demand before.

New projects in NCR

In the NCR, the maximum number of new projects have been sanctioned in Ghaziabad district (7), followed by Gautam Buddh Nagar (3) and Meerut (2).

Revival of housing demand in Uttar Pradesh

Shashank Gupta, Executive Chairman and Managing Director Urban Axis Infratech Ltd, said, “A historically high number of registrations in a single month demonstrates the sector’s much-needed growth, particularly in underdeveloped markets. There is a rising desire for apartment-style living in Tier 2 and Tier 3 cities. Indian real estate is preparing for a rally, with high-potential small towns serving as the center of the revival of the industry.”

This trend of record registrations with the RERA Authority indicates a revival of housing demand post-pandemic. As rising demand helps developers clear out their existing inventory, they are back on the drawing board for new projects. The focus towards non-NCR towns is expected to expand further as builders scout for new markets where land availability is abundant and reasonably priced.

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The price range of 2 & 3BHK apartments in Urban Woods- Phase 1 starts from INR 60 lakh and INR 75 lakh, respectively

● In Luvnest,2 & 3BHK apartments are priced between INR 70 lakhs – 1 crore and Penthouses are between INR 1.2 – 2 crore

● Luvnest and Urban Woods- Phase 1 are closely located to Chaudhary Charan Singh airport, Lucknow’s renowned educational institutions, hospitals, shopping malls, and religious places

Lucknow, October 18, 2022: A new-age Lucknow-based real estate company, Urban Axis Infratech Limited, has recently completed two stalled residential real estate projects (Luvnest and Urban Woods- Phase 1) in Lucknow. With price ranging between INR 60 lakh and 2 Crores, the properties have recorded an exceptional demand from homebuyers within a short period of time. So far, a maximum number of units have been sold and only a handful are left for sale.

Urban Axis first project, Luvnest located at the heart of Lucknow, is a one-of-a-kind residential project offering 2 & 3 BHK flats and penthouses at Shaheed Path. The thoughtfully designed community features an affordable yet premium resort-style living experience for residents and home seekers to help them lead happy and fulfilled life. This property is well connected to Lucknow’s prime locations, such as the Airport, Amity International School, Medanta Hospital, Sanjay Gandhi Post Graduate Institute, Kalindi Park, Centrum Club, Phoenix Palassio Mall and Lulu Mall. This project is almost sold out with only a few penthouses available for home buyers.

Urban Axis latest project, Urban Woods- Phase 1, is sprawled across 4 lakh sq. ft. of prime land and provides plenty of green spaces, parks, and serene landscaped greens. Urban Axis has weaved in modern-day amenities to give home seekers a carefree life with a sense of belongingness and pride. As far as the location is concerned, the property is conveniently located to schools like GD Goenka, Medanta hospital, shopping malls (Lulu & Phoenix Palassio), Iskcon temple and Lucknow airport.

Urban Axis Infratech Limited is on a mission to make affordable, accessible, and premium living spaces using internationally recognized Swedish and Korean Technologies in construction. The company assures earthquake resistant RCC structures, rainwater harvesting, and solar water heating system in all its properties.

Both Luvnest and Urban Woods Phase 1 projects are designed to offer world-class amenities, including an internationally designed sky garden, spacious living rooms with expansive balconies, a health club, a gymnasium, a kids’ play area, high-speed elevators, and 3 Tier security, among others.

Speaking about the projects, Shashank Gupta, Executive Chairman and Managing Director of Urban Axis, said, “Both Luvnest and Urban Woods- Phase 1 projects were initially mired in legal problems but have been successfully bailed out by Urban Axis Infratech Limited to fulfil the home-buying dreams of the middle-class section. We are pleased to receive an outstanding response for both our projects, and we expect to sell the remaining few housing units by the year end”.

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