BAHADURGARH LOW BUDGET GOOD RETURN INVESTMENT

AREA WATCH: BAHADURGARH

Down but not out

This industrial and knowledge hub with an affordable price tag can be the perfect entry point for homebuyers with limited budget but longer investment goals

 

 

Geetu Vaid

With stagnant prices, delayed projects, slow sales and reluctant buyers the realty outlook for several lesser known micro markets of NCR has not been very positive over the past couple of years. So while in spite of a slowdown and delayed projects Greater Noida, Yamuna Expressway, New Gurgaon, Sohna etc have managed to remain on the buyers’ radar, others like Bahadurgarh, Bhiwadi, Manesar have failed to live up to their potential. 

 

Apart from buyer scepticism and investor apathy these micromarkets have also seen poor infrastructure growth. Bahadurgarh is one such NCR town that has seen sales plummeting over the past two years with real estate agents virtually writing it off as a “prudent” investment option. Primarily an industrial hub, Bahadurgarh has the usual pain points of any industrial city.  “The pace of infrastructure growth has been slow and the town has poor civic amenities, which is a big put off for an odd buyer who comes scouting for this area”, says Somnath Dhaiya, who deals with properties in the NCR region. But in spite of its poor report card, market watchers claim that investing in a home in Bahadurgarh will not be a bad bargain in the long run. 

 

Firstly, it is one of the more affordable areas in the NCR at the moment with prices ranging between Rs 3,000 and Rs 4,200 per sq ft. A 1,150 sq ft to 1,600 sq ft two or three BHK here is available in the price bracket of Rs 30 to Rs 50 lakh. Along with this the presence of developers like Tata Value Homes, Omaxe, KLJ Developers etc takes care of the quality of construction here. Thus, industry mavens maintain that it is a good investment for those with limited funds and a longer investment window. 

There are a number of factors that will ensure growth of residential segment in this town over the next five years. “Situated in close proximity to both Gurgaon and New Delhi, Bahadurgarh has the potential of being the hub for the value and affordable housing segment in the NCR area. Its proximity to prime residential areas like Pitampura, Rohini, Janak Puri, Punjabi Bagh, Dwarka will establish Bahadurgarh as a major residential location in NCR”, says Brotin Banerjee, MD & CEO, Tata Housing Development Company. The group has an affordable homes project New Haven under construction in Bahadurgarh.

 

Key market drivers

 

 

The city is shedding its old skin with improved prospects in connectivity and infrastructure. It will be developed for a population of 4.84 lakh by 2031 AD. 

 

 

Connectivity is a major factor for homebuyers, especially in the NCR. Bahadurgarh is 30 km from Delhi, but with the work on Metro line connecting it with Delhi areas  likely to be completed by December  end this year, commuting will not be cumbersome. In fact, Bahadurgarh will be the fourth town in the NCR to be connected to Delhi through Metro after the completion of metro line to Mundka. The commuting time on this stretch will be 20 minutes and it will take slightly more than an hour to travel from Bahadurgarh to Connaught Place. The city is connected to Gurgaon via the NH-10 and also through the Kundli-Manesar-Palwal (KMP) expressway. This expressway, which intersects NH-1, NH-8 and NH-2, and NH-10 near Bahadurgarh, was delayed by more than five years which had lowered the real estate prices in Bahadurgarh. But the January 2015 Supreme Court ruling had put things on a fast track. The expressway is set to be the single major catalyst of residential and commercial development in this region.

 

 

The presence of a large number of industries and educational institutions are the other favourable factors for housing demand in the city. There are around 500 footwear units in Bahadurgarh contributing around one-third of the net turnover of the city. Apart from this; there are iron and steel fabrication, plastic industry, rubber industry, machinery fabrication, auto components, wires and cable manufacturing industry, pharma, sanitary, ceramics, medical equipment manufacturing industry too.

Bahadurgarh is also considered a knowledge hub due to presence of a number of government and private colleges and institutions. In addition, it is also developing as a major healthcare and medical facility node with the foundation stone of Maharaja Agrasen Medical University being laid by the Chief Minister of Haryana in August, 2015 and AIIMS, Jhajjar already in advanced stages of planning. 

 

 

Planned urban growth

The quality of life will also be good in Bahadurgarh as it is moving towards planned urban growth. It is among 38 cities in the Northern region that have been selected under Atal Mission for Rejuvenation and Urban Transformation (AMRUT).

The Haryana Government’s Final Development Plan-2031 AD for Bahadurgarh lays down the criterion for planned development of the city. For example, Sector 16 of Bahadurgarh has been developed as a general-purpose industrial area, Sector 17 as a Footwear Park. Currently sectors 2, 6, 7 , 9 , 9A are developed and sectors 1, 10, 11 and 13 are under development as residential sectors. The rest of projected population would be accommodated in residential sectors i.e. 1, 2, 3, 3A, 3B, 4A, 5 part, 6, 7 part, 9 part, 9A, 10, 11, 13, 14, 15, 19 part, 20 part, 23 part, 24 part, 25, 26, 27 part, 28, 28A, 29, 35 part, 36 part and 37. 

 

 

With a detailed development plan in place and better connectivity and industrial growth and availability of affordable and good quality housing, realty scene here  will not be under the cloud of slowdown for long.  

TATA VALUE HOMES ENTERS BAHADURGARH

TATA VALUE HOMES ENTERS NCR AFFORDABLE HOUSING SEGMENT

Jul 01 2015

 

Tata Value Homes, a wholly owned subsidiary of Tata Housing Development, has entered the national capital region’s affordable housing market with the launch of its New Haven project in Bahadurgarh.

“New Haven is a pioneering initiative by Tata Value Homes to fulfil the homebuyers’ full spectrum of lifestyle needs at an affordable cost,” the Mumbai-based company said in a statement.

The campus in Bahadurgarh will offer 2 BHK and 3 BHK residences ranging from 1,296 sq ft to 1,917 sq ft starting at a price of Rs 49.14 lakh. The project is targetted to enable homebuyers to experience quality life spaces at an affordable price.

This 1,700 units project would comprise 14 storeys, each spaciously spread and placed across the landscape. This would enable the residents to enjoy the beautiful open and green views, the company claimed. It would be ready for delivery in 2019.

Conveniently located just about 4.5 km from the under construction metro stations, namely City Centre and bus stand, the New Haven project at Bahadurgarh is spread across 21.7 acres.

The project boasts 70 per cent open spaces and has facilities such as tennis court, basketball court, cricket crease, children play areas, a Peacock Park, saffron field, lotus pond and a 750 meter jogging circuit.

The project is also equipped with a clubhouse of over 20,000 sq ft which will boast a fully equipped gymnasium, swimming pool with a separate kid’s pool, an indoor badminton court, games room and a meditation room.

“The new project is in line with our expansion plans for our affordable housing under New Haven brand across the country,” Brotin Banerjee, managing director and CEO at Tata Housing Development told Financial Chronicle.

He said with this launch, the company was confident of providing a comfortable lifestyle to home buyers with enough room for everyone to live and grow with modern amenities.

“Situated in close proximity to both Gurgaon and New Delhi, Bahadurgarh has the potential of being the hub for the value and affordable housing segment in the NCR area,” Banerjee said. zz

 

MAHARAJA AGRASEN MEDICAL UNIVERSITY IN BAHADURGARH

MAHARAJA AGRASEN MEDICAL UNIVERSITY IN BAHADURGARH

 

Chief minister Manohar Lal Khattar laid the foundation stone of Maharaja Agrasen Medical University at Bahadurgarh on Aug 29, 2015.

He also laid stones of four new medical, nursing, paramedical and hospital management colleges to come up in the medical university at the cost of about Rs 500 crore.

PDM UNIVERSITY BAHADURGARH

Under the Haryana Private Universities (Amendment) Bill, 2015, PDM University will be set up in Bahadurgarh, district Jhajjar. This University would be the 19th private university of the State after implementation of the Haryana Private Universities Act, 2006.

Tata Housing to invest Rs 600 crore on new Bahadurgarh project

Tata Housing to invest Rs 600 crore on new Bahadurgarh project

By PTI | 8 May, 2015,T

NEW DELHI: Realty firm Tata Housing will invest about Rs 600 crore to develop a new residential project at Bahadurgarh, Haryana.

The company has tied up with a local developer, who owns 21.7 acres of land, to develop this housing project comprising 800-1,000 units.

Tata Housing subsidiary Tata Value Homes said in a statement it has entered into Delhi-NCR's affordable housing market with the launch of this project in Bahadurgarh. The apartment price starts from nearly Rs 50 lakh.

Tata Housing did not mention the total investment to develop this project, but sources said it would be about Rs 600 crore.

The company has received all the necessary approvals to develop this project and construction works would start soon, they added.

Tata Housing MD & CEO Brotin Banerjee said: "Situated in close proximity to both Gurgaon and New Delhi, Bahadurgarh has the potential of being the hub for the value and affordable housing segment in the NCR area."

Tata Housing is a closely held public limited company and a subsidiary of Tata Sons Ltd, which holds 99.86 per cent stake in the realty firm.

It has 70 million square feet under various stages of planning and execution and an additional 19 million square feet in the pipeline.

At present, Tata Housing is developing three projects in Gurgaon.

Yokohama inaugurates its first tyre plant in India at BHADURGARH

Yokohama's new tyre manufacturing plant at Bahadurgarh, India will produce 2000 tyres a day

Yokohama India, a 100 per cent subsidiary of Yokohama Rubber Company, has set up its new tyre manufacturing plant at HSIIDC, in Bahadurgarh. Bhupinder Singh Hooda, Chief Minister, Haryana inaugurated the Rs 300 crore manufacturing unit.

Speaking on this occasion Hooda, says, “We are glad that Yokohama India chose Bahadurgarh. Of every two cars being manufactured in India, one comes from Haryana. Infact, 70 per cent of the total Japanese investments in India are in Haryana.”

The commercial production of the tyres will begin in the second-half of the year 2014. According to Takeshi Fujino, Managing Director, Yokohama India, the production can be scaled upto 8,000 tyres per day in the next phases of growth.

The manufacturer claims that Yokohama tyres are designed specially keeping the Indian roads in mind. The Yokohama Earth 1 tyre comes with a wear and tear control shoulder design. The tyres have vertical and horizontal grooves which reduces uneven wear and tear. The central rib of the tyre, according to the manufacturer, helps in maximising its performance.

Yokohama India currently has around 600 sales touch points including 22 Yokohama Club Networks (YCN) across the country. YCN is a specialised network based on the company’s global philosophy of providing a world-class tyre buying experience to its dealers. The company plans to spread its wings in the country by doubling the number of YCN’s by the end of the year 2014.

Yokohama currently competes only in the tubeless radial tyre market segment, holding a two per cent market share in the country. With the new manufacturing unit which will cater to the increasing demand of tubeless tyres, the company plans to target five per cent market share.

Haryana approves Reliance Industries' quitting SEZ;

Haryana approves Reliance Industries' quitting SEZ;

to give Rs. 343 crore for land

Chandigarh: Reliance Industries' proposal to opt out of Gurgaon special economic zone (SEZ) has been approved by the Haryana government, which hyas said it will reimburse Rs. 343 crore to the company.

The amount offered by the state government for taking back the land is lower than Rs. 1,172 crore demanded by Reliance.

Chief Minister Bhupinder Singh Hooda told reporters in Chandigarh on Friday that RIL's proposal was approved by the state Cabinet at its meeting here.

Mukesh Ambani-led RIL had sought the reversal of 1,383.68 acres - from Reliance Haryana SEZ Ltd (RHSL) to the Haryana State Industrial & Infrastructure Development Corporation (HSIIDC) - saying that the project had become unviable.

An official release said the SEZ Project at Gurgaon had "been rendered economically unviable due to the mid-term corrections in the SEZ Policy viz. imposition of the Minimum Alternate Tax (MAT), withdrawal of the Tax holiday, slowdown in the global economy, prohibitively high prices of land and other problems associated with aggregation of land through private negotiations".

Sensing the difficulties posed in this behalf, the Chief Minister had requested Reliance to return the HSIIDC land, it said.

"As such, RHSL offered to return the HSIIDC land and abandon the SEZ project in Gurgaon vide their letter of January 2012," the release said.

"RHSL had requested for refund of the amount paid by them to the HSIIDC and re-imbursement of expenditure incurred on the site, apart from interest on the said amount aggregating to Rs. 1,172 crore," it added.

The proposal was considered at the level of the Haryana Investment Promotion Board, headed by the Chief Minister, after examining all the legal aspects of the Joint Venture Agreement, it said, adding that HIPB recommended acceptance of the return offer strictly in accordance with the provisions of the JV agreement.

"Accordingly, the Haryana Cabinet today approved the return of the land to HSIIDC, in lieu of payment of an amount of Rs. 343.51 crore to RHSL as against Rs. 399.85 crore paid by RHSL at the time of transfer of land and the demand of Rs. 1,172 crore by RHSL," the order noted.

"The claims on account of Administrative charges forming price of the subject, refund of the Stamp Duty, re-imbursement of development expenditure and interest amount have not been accepted. The refund amount has been worked out strictly as per the terms of the Joint Venture Agreement date 19th June 2006 signed between the HSIIDC and RVL."

HSIIDC and Reliance Ventures Ltd, wholly-owned subsidiary of RIL, had entered into a JV Agreement on June 19, 2006 for setting up of the SEZ over an area of 25,000 acres in Gurgaon and Jhajjar districts.

HSIIDC had transferred about 1,383.68 acres at Village Garhi Harsaru to the special purpose vehicle floated by HSIIDC and RVL for implementing the project - Reliance Haryana SEZ Ltd, for about Rs. 399.85 crore.

The project configuration was subsequently changed to SEZ in Gurgaon district over 12,500 acres and a Model Economic Township over 12,500 acres in Jhajjar district. Reliance was able to purchase, and aggregate, about 7,100 acres in Jhajjar, and another about 1200 acres in Gurgaon, but it was not contiguous.

RHSL also paid Annuity to the landowners whose land was acquired/procured in Gurgaon & Jhajjar amounting to Rs. 50.71 crore up to March 31, 2013. It included Rs. 17.61 crore on HSIIDC land in Gurgaon and balance amount of about Rs. 33.10 crore in Jhajjar where they had procured land through direct negotiations.

Soon after the Haryana government received the land return offer from RHSL, it has been engaged in discussions with the Union Ministry of Commerce & Industry for the best utilisation of the subject land, the release said.

"It has been agreed with the Ministry of Commerce & Industry to use the subject land for establishment of a state of the art Global City Project as a send investment node under the Delhi Mumbai Industrial Corridor (DMIC) Project," it further said.

"The Global City is envisaged to be developed as a high value added manufacturing infused area which, apart from adding to the economic development, would also help in generating skilled employment in Haryana."

Mr Hooda said the land acquired for the Reliance project would not be returned to the original owners of the land. The new project is envisaged to be an integrated model township in Gurgaon, comprising of the exhibition and convention centre, high value innovation and knowledge industries, central business district and township facilities.

The Global City Project is proposed to be developed jointly by the HSIIDC and the DMIC Trust/DMICDC through a special purpose vehicle (SPV) with equity participation by DMIC Trust and HSIIDC in equal proportions.