Delay in Infrastructure Projects – Checkup Spring Shocks - Raja Aristos News

The recent scrutiny of long-term infrastructure projects lead to some shocking disclosures in the inspection and one of them being that some projects started without even following the basic approvals.

The Bangalore Development Minister R Ramalinga Reddy, in this recent inspection came to know that the BDA lacks 3.2 acres in the Nayandahally fly over project near Mysore Road, because of which the project has been delayed.

This scrutiny also revealed that the BDA has begun the construction without finishing land acquisition, which was really a surprise.  The Nayandahally fly over project near Mysore Road, which is a 960-metre long flyover started in 2010 and was planned to be finished by 2013, but now it looks like even if BDA gets the required land now, which they are lacking, the project needs five months to get completed.  The required land for the project belongs to over 40 people as the property value is quite high in this area, owners want the market value. And would be sorted very soon.

During the inspection, Mayor Sathyanarayana found that the two ROBs at Byappanahalli and Jakkur was started by BBMP without completing land acquisition.

Due to delay in the Nayandahally flyover and along with the work on the Metro Rail Project, commuters on the Mysore Road face a huge problem as it creates frequent traffic jams. 

After the scrutiny, Ramalinga Reddy the Bangalore Development Minister informed that the National College Metro corridor will be finished by March 2014 and the train will start from Byappanahalli station to Mysore Road Station by 2014.  He also added that the work from Kaggalipura to City Market will be completed by 2015 and by this year-end metro services from Peenya to Malleswaram would be effective.

There is also a proposal to concretize the road below the metro corridor from MG Road station to Byappanahalli station and the road work cannot be started along with the on-going metro work, said  Pradeep Singh Kharola, MD, BMRC.

BS Sathyanarayana stated that BBMP is planning to provide parking near all Metro stations for Metro commuters and the fund for this will be utilized under the Jawaharlal Nehru National Urban Renewal Mission scheme as guided by Ramalinga Reddy.

Achievements and case studies of Raja Housing Ltd.

About Us:

Raja Housing Ltd., was established way back in the year 1890. Our journey until now has been one of fulfilled one owing to the success of the projects that we have undertook over a period of years. We work with a vision to create a progressive organization that matches international standards thus maintaining high ethical standards, integrity and transparency. Our work environment is one of competence, professionalism, teamwork, and service excellence.

Residential Projects:

Raja Housing Ltd., has several residential projects that are categorizes under three categories: Current Projects, Completed Projects, and Upcoming Projects. There are various amenities in these projects for the customers. One can look forward to modern aesthetics and practical wisdom that is blended into flawless harmony. There are various amenities in our apartments such as swimming pool, children's play area, outdoor barbeque area, party hall along with pantry for service purpose, gymnasium, reception, steam, sauna, jacuzzi, table tennis, indoor games, outdoor games, terrace party hall with hard landscaping.

 

Apart from these classic amenities, there are many other facilities such as home control (lighting, gas valve, fire alarm), door answering & monitoring, inter-communication (guard office, households), surveillance monitoring (CCTV), various internet contents, remote device control via mobile, etc. 

Commercial Projects:

Raja Housing Ltd., brings to the commercial property users the best commercial buildings to house their businesses. We understand the needs of the customers and their businesses more than anybody else. All our projects that are completed stand testimony to our top notch quality, perfection and commitment. There are various commercial establishments of Raja Housing Ltd., in various localities. Our commercial projects stand testimony to the fact that they are a landmark construction with all the modern amenities.

  

Layout Projects:

We have undertaken various layout projects that are located in various areas in Bangalore and Mysore. There are 40 acres of Villa plots & Villas at Yelawal, Mysore, 10 acres of residential layout in Bangalore, and so on. Our layout projects promise to deliver the best to our customers with the best facilities.

  

Why Choose Us?

We advise you to choose us because we work with a mission to bring quality residential and commercial property that is international standards in taste and is comparable with global developers at the same time. We ensure we bring complete satisfaction to our customers through our excellent services and facilities. You are destined to be satisfied with our service and buying the property. Today, we are considered the leaders in the residential, commercial and other ventures that we have undertook.

Home Loans Taken Earlier Becoming Unaffordable for Investors

Property investors with 10 to 15 years old home loans are now finding it difficult to tackle rising interest rates.  Besides high rates, they are also dealing with less rental income, inflation rate, low wage revisions, high cost of living and the worsening economic slowdown.

Amidst such less favorable events, selling the property seems to the best option to escape from heavy EMIs and beat inflation. Over the last few months, many such properties are put up for sale. Statistics show about thirty percent increase in the sale of such properties.

Industry watchers take a closer look at the scenario. Price water house Coopers’ executive director Shashank Jain says that this trend is mostly happening in metro cities. Buyers of such property will benefit from the reasonable rates, comparatively lesser than on-going market rates.

And, for the sellers of such properties, there is significant rise in the price than at the time of acquisition. This is a beneficial deal for both the sides, and buyers don’t have to deal with the risks associated with new projects.

It has been a common practice to give properties for rent; however, the rental yield from such properties fails to compensate the rise in rates. This is yet another reason why people are opting to sell off the property.

However, experts also point out that these trends might have a strong impact on current investments in India’s real estate sector. They believe such deals will attract only primary buyers and not those looking for second or third investment options. 

Festival Sales Offer to Clear the Housing Inventory Hope by Real Estate Developers.

Industry experts say that during the festive season Real Estate developers hopefully will clear a large portion of their housing inventory by offering discounts and freebies, even as they sit tight on declared prices.

Over the past few quarters developers are facing major issues with realty markets. It is due to high interest rates there is overall slowdown which leads to build up of unsold units. Banning the 80:20 schemes by RBI’s stringent directives is expected to make difficult for developers. During the period of September-December there will be maximum launches and publicity of real estate projects.  

During the period industry watchers are not expecting any price correction.

Most of the projects are marginally maintained. They say that they are not expecting any price correction now. Developers are going to plan their sales cautiously because already they are facing slowdown.

To increase the sales developers are attracting buyers by providing them with several discounts, gifts/schemes, and the gift may be gold coins, cash back on monthly rentals, free parking, customization, club facility, zero brokerage and most of cash discounts.  This is all to clear the housing inventory.

According to few realty portals developers in metros like Mumbai, Delhi-NCR, Bangalore, Kolkata, Pune, Chennai and Hyderabad have already announced various freebies to attract customers.

Due to such offering and schemes there is likely a result in increase of sales. In spite of slowdown and high interest still there will be demand from primary buyers. Therefore there is a slowdown but still they believe that sales will happen during festive seasons. There will some offers and discounts but which is not a major. In Mumbai region many developers are facing major drop in sales from quite some time. For the overcome of sales they have already announced various discounts. One of the developers in Mumbai have offered Rs 2 lakh discount for on the spot booking.

Amidst Rising Interest Rates, Realty Companies to Offer Discounts to Buyers

In view of the increase in repo rate, premier lenders like Axis, ICICI and HDFC have revised their loan interest rates. This move has made matters worse for realty companies, which were already under pressure on account of slow economy and less demand for housing projects.

This scenario puts realty firms at stake, who is desperately trying to clear off inventory. As part of the attempts, buyers would be given several offers this upcoming festive season.

The recent report by Credai, the Confederation of Real Estate Developers' Associations of India says, the launch of new products has been much less in comparison with last year. Also, according to Liases Foras, property research firm, the fall in property rates has affected sales of 670 million sq ft of stock throughout the nation. Previous festive season reported ten percent more new projects.

Industry observers are closely following the trends, and see less chances of new projects filling the gap as most of the builders would be focusing on clearing off inventory.  Builders are planning to introduce new schemes to attract buyers.

The fall in property demand and rates was seen in 22 of 26 cities, owing to economic slowdown, recent job cuts and upward inflation.

Rajeev Talwar, executive director of DLF, India’s largest real estate firm pointed out that it was a wrong move in terms of real estate sales to increase the rates this time.

Builders are even willing to include amendments in the existing structure as well as payment scheme to lure more buyers. With banks raising their loan rates, property buyers can look forward to lucrative offers from developers this season.