Led Garden
Led Garden
Is there a water shortage in the world, or have we been led down the garden path by all the tree huggers.?
If you tell me there is a water shortage, tell me where it has gone?
Your second sentence answers your question, really. The amount of water on the planet now is the exact same as always. The problem lies in the cost of cleaning and purifying water for consumption.
However, please don’t tar all environmentalists as “tree huggers” since not all feel compelled to scold us for our callous overuse of water.
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Delhi Metro Rail Corporation had a direct impact on Delhi’s real estatevalues from the time the first line from Tis Hazari to Shahdara was commissioned in 2002. As new lines race across NCR, realtors and users alike are agog, recession notwithstanding, finds Brix Research
When the Delhi Metro started in Rohini, Pitampura and Dilshad Garden, property values increased manifold. With easy accessibility as the key, demand for residential and commercial properties also increased in areas close by. According to Ajay Agarwal, a Delhi-based realtor, “People prefer living within a 1-km radius of the Metro, specially the working class and students, who constitute the majority of Metro users.” Agarwal found that the value of a plot that he sold in 2003 in Rohini at Rs 15 lakh, now retailed at Rs 70-80 lakh. “The capital and the rental values of residential properties near the Metro have increased significantly,” says Agarwal.
Now take the case of Dwarka sub-city, which was languishing without usage till 2004. From 2005 onwards, development of infrastructure projectssuch as flyovers and other transport linkages began to draw a working population to the area, with ample affordable housing. The progress of the Metro across Dwarka spelled hope to many who braved severe traffic congestion till the line was commissioned in 2006. All this has led to a spurt in demand for both residential and commercial property here.
According to city-based agent, Sanjeev Mahindru, “Dwarka real estate values have increased 5-10 times compared with 2005 values, and Metro played an important role in this. Today Dwarka has become a preferred area for those working in Connaught Place, Rajendra Nagar and Rohini. The fact that the values are lower than in Gurgaon, and many prime Delhi localities, also prompts users to move here. The prime residential sectors adjoining the Metro are Sectors 9-14, where capital and rental values are high owing to rising demand. Prime commercial Sectors — 4, 5, 6, 10, 11, and 12 — also have high values owing to proximity to the Metro line.”
With Metro connectivity, Janakpuri along the ‘blue line’ (of the Metro) has also witnessed positive sentiments. End users prefer to stay in localities that are close to the Metro line. Rajat Sadhwani, a local realtor, says residential capitalvalues in localities within a 1-km radius of the Metro have increased by 15-20% and rental values by 20-25%. Commercial values too have risen by 35-45%. Sadhwani, in fact, has noticed end users from South Delhi shifting or investing in these areas as property values are low compared to South Delhi. “Secondly Metro has made life more comfortable and safe for women and children,” he says. The sub-city’s head start in Metro connectivity over South Delhi has worked in its favour.
South Delhi: Construction of a Metro line to South Delhi is in full swing. Real estate values in the South Delhi market have always been very high. Due to negative sentiments, property rates have gone down by approximately 20-30% from December ‘08 values. The Metro construction work is slated to finish within a year and is expected to result in an immediate 10-15% rise in values. South Delhi-based realtor Sanjeet Sharma says the market is not as good as it was in the pre-recession era, but transactions are happening because investors are aware that with Metro coming to South Delhi, there will be hike in property values.
As for Noida, real estate broker Ravi Pundir, says, “Real estate values of Noida are already so high that we are expecting values to remain stable at least for this year. Though Metro will add value to property in Noida, it will take time to revise the city values.”
End users from Delhi and Noida are shifting to Ghaziabad, where active real estate development has led to a glut in affordable residential property. They are in demand because of lower values than neighbouring areas. Many housing projects are coming up in different parts of the city. Values in prime residential localities like Vaishali, Vasundhara, Kaushambi and Indirapuramare high and are expected to rise by 25-30% once Metro has a complete run in the city.
Ravinder Singh, a Ghaziabad based realtor says, “Metro has added value to the city’s real estate sector. Approximately, 70% of working class is now investing in the residential property of Ghaziabad due to affordable property rates. The Commonwealth Games and the Metro are major role players in the booming of the city’s real estate sector.” Singh expects that after commissioning of the Metro, values might rise by 25-30%.
In Gurgaon, the Metro is expected to be operational by June 2010. According to realtor S K Mehta, end users prefer Sushant Lok Phase 1 – Block A, B, C – due to their proximity to Metro. He further adds that there is a spurt in enquiries for rental and capital values in these blocks. The property values are expected to rise by 15-20%, once the Metro is commissioned. He further told Brix Research, “Though Gurgaon is one of the happening places, due to a lack of connectivity, end users preferred to stay in Delhi. Now, with the coming of Metro, Gurgaon real estate market will be targeted by working class and students as well”.
One of the main reasons for high prices in the Delhi NCR reality market may be attributed to the Metro. End users and investors are now putting money in those localities with easy Metro accessibility, with property values that had either dropped or were stable due to the current global recession, expected to rise every time a new Metro line is flagged off from a locality in the Delhi NCR.
Courtesy:- TOI dt:- 08-08-09
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