Work on Dwarka Expressway is set to resume
Dec 12, 2013
Source : The Times of India


DELHI: Resumption of work on the much-delayed Dwarka Expressway is good news for the thousands of end users and investors here. The expressway has emerged as one of the most sought-after real estate destinations in the National Capital Region (NCR) today.

The expressway was scheduled to be completed by March 2012. Interestingly, the developers who are implementing projects here played an important role in expediting the whole process and in ensuring that the expressway is completed as soon as possible. This will also pave the way in completing the construction of their respective projects.

Because of the delay in the acquisition of land, the contractor of the expressway, India Bulls, demanded compensation. As it was the responsibility of the Haryana government to acquire the land and give it to the contractor on time, the loss due to the delay in handing over the land was also to be compensated by the state government.

But as this settlement could have led to more delay, the developers on Dwarka Expressway, under the Confederation of Real Estate Developers Associations’ of India, Gurgaon chapter, pooled money among themselves to compensate the contractor.

The state government too has taken steps to remove the hurdles in acquiring the land for the construction of the expressway. According to one estimate, the land acquisition will be completed by March 2014.

A spokesman of the land acquisition department of Huda says that while land for most of the 18km stretch of the 150-metre-wide road has been acquired, 4km is under a stay order from the high court. Work on 14km—out of the 18km stretch—of the expressway is already complete.

There are only four small stretches where the construction has not been completed. Out of this, the land in the two stretches belongs to the public utility departments. According to the detailed map of the road, 800 metres has been handed over to the Indian Railways for construction of a rail over bridge—Huda has already paid the railways Rs 38 crore in advance for this project.

Besides this, land for 700 metres road is under various Huda utilities like HT pillars and water works which Huda is in the process of shifting. According to a source, the shifting work will be completed soon.

Land for the balance 2.5km of the road is under a stay-order from the high court, which directed the state government not to disturb any possession till the writ petitions are settled. Even so, the acquisition proceedings have not been stayed in totality. All the issues have been settled except with those who have houses there and are bargaining for better compensation.

To sort out the issue related to the 2.5km stretch, Huda announced a rehabilitation policy on September 30, 2013. According to the policy, people with built-up homes or structures are being offered alternative plots in Sectors 110 A and 37C. The plots on offer are of almost the same size as the plots being taken over.

Huda has already acquired 145 acres in the two sectors for this purpose. However, only 15 acres will be required to re-settle the petitioners. On the Delhi side of the expressway, the acquisition of the land is almost complete.

The expressway will bring Delhi and Gurgaon closer. It will also ease the traffic problems on NH-8 and connectivity will become smoother and faster. The distance to the IGI airport will reduce considerably from Gurgaon. Another positive development is that the toll for commuters between Delhi and Gurgaon will be discontinued. This will further reduce the travel time. More than 33,000 houses are under construction on Dwarka Expressway, with the completion of the expressway opening the doors for many more. The main developers here include BPTP, Ramprastha, Indiabulls, ATS, Puri Construction, Assotech, Uppals, Raheja, Sobha, Chintels, among others.

Latest Realty News

Realtors queue up to make 12 lakh homes in Gurgaon
Dec 12, 2013
DELHI: With over 50 developers signing up to build affordable housing projects in new sectors, buying a flat in the city at a relatively economical Rs 12 lakh is set to become a reality. The low-cost housing policy project announced by the state government in August fixed the price of flats at Rs 43,000 per sq m with the sizes of flats ranging between 28 and 60 sq.m. The department of town and country planning (DTCP), Haryana, has set a deadline of four years from the approval of building plans
New land act will impact growth
Dec 12, 2013
DELHI: Land reform has been a neglected social agenda in India for decades, and sidelining this very important subject has come at an economic cost, particularly in recent times.
'Launch of new homes falls 12% in 8 cities this year'
Dec 12, 2013
DELHI: Launch of new homes dropped by 12 per cent to over 1.72 lakh units so far during this calendar year in the eight major cities due to cautious approach by developers in view of slowdown in demand, according to global property consultant Cushman & Wakefield.
Property launches down 12 per cent this year
Dec 12, 2013
DELHI: Across major cities, new property launches in the residential segment declined 12 per cent this year, with Chennai recording the sharpest drop at 39 per cent, followed by the Delhi National Capital Region (NCR) at 33 per cent, according to a report.
Launches of new homes drop 12 per cent in 8 major cities this year: Cushman & Wakefield
Dec 12, 2013
DELHI: Launch of new homes dropped by 12 per cent to over 1.72 lakh units so far during this calendar year in the eight major cities due to cautious approach by developers in view of slowdown in demand, according to global property consultant Cushman & Wakefield.
Maximum homes sold are priced under Rs 5,000/sq ft: Research firm
Dec 12, 2013
DELHI: Apartments priced under Rs 5,000 per sq ft account for nearly three out of four homes sold in Mumbai, National Capital Region, Pune, Bangalore and Chennai over the past year, data from real estate research firm Liases Foras shows. While such homes comprised 73% of the total sales in these areas, the figure was an even higher 84% in Bangalore and Pune.
Property tax deadline extended to Dec 31
Dec 11, 2013
DELHI: The MCG office saw a huge rush all through 10 December, the last day to pay property tax and avail rebate, before the state government decided the same evening to extend the deadline to December 31.
Ashiana Homes & Landcraft raises Rs 180 crore from Indiareit & IIFL
Dec 11, 2013
DELHI: Realty firms Ashiana Homes and Landcraft Projects said they have raised Rs 100 crore from Pirmal Group's private equity firm Indiareit and another Rs 80 crore from financial institution India InfolineBSE -1.35 % to fund their upcoming housing project in Gurgaon.
Government allows Limitless to exit JV with DLF
Dec 11, 2013
DELHI: The government has allowed Dubai-based Limitless to exit its joint venture with realty major DLFBSE -1.96 % and repatriate capital of about Rs 200 crore as the partners were not able to acquire land to develop a project in Karnataka.
Tata Housing ties up with Google for online booking of flats
Dec 11, 2013
DELHI: Tata group firm Tata Housing today said it has tied up with Google for online booking of homes during the three day shopping festival starting tomorrow.

Latest Realty News Of State

Realty Talk's