REALTY SECTOR FULLY REJUVENATED & RECOVERED

After having exhausted the South Delhi real estate development to its full, with prices sky – rocketing, Gurgaon to emerged to fill the gap during early 1980. With the acquisition of large tracks of land at Sikanderpur on the boarder of Mehrauli – Delhi, by DLF, Gurgaon drew the attention of other developers, real estate consultants and investors. Now it is for everybody to see how Gurgaon has attained the industrial hub along with habitation destination on a spacious scale since then.

After having weathered a slow- down phase in realty sector which ensured with the slowdown of global economy during 2008 – 2009, the market sentiments are once again looking uo. During the last six months, the realty sector has fully been revived.

As the liquidity in the market was enthused adequately, both banks and financial institutions provided the required finances to realtors / builders and the end- users. This has once again pushed the buoyancy in demand foe residential places.

Actually, the residential segment has emerged as the most resilient asset as developers have re-written their strategies with product innovations based on customer demands, price neutralization, avoiding haphazard expansion and liquidation of non-business assets. With yearly escalation to the tune of 10 million middle class personnel both technical & non-technical, there is ever-increasing demand foe affordable houses and flats. The realtors and developers, have better prospects of developing their business.

Riding on the fresh demand sentiments of the customers, the availability of developing places being provided by developers, has some ominous portents for realizing boom in realty sector, meeting buoyancy in demands of house. In regard to social responsibility , we have already earmarked as much as 111 flats to EWS in our “Tulip Grand” project, sonepat which is almost reaching completion and flats are being handed over to the allottees within a month or so. As many as 106 flats have been earmarked foe EWS in our on-going project of residential colony on Pataudi Road, Gurgaon. In other three projects situated in 69/70 sectors on the Sohna Road, 600 flats for EWS form an integrated part of our projects,” disclosed Jain.

“Tulip Orange” , “Tulip White” and “Tulip Purple” on about 100 acres of land on Sohna Road, have the projected connectivity with the proposed Metro line, besides being only seven kmts. from N.H.8. A six lane road from Rajiv Chowk to Sohna near the project site has almost reaching its completion.

As the number of middle class employees is growing with each passing month, the country’s economic growth is attaining un-precedented and spectacular upward mobility. Despite the economic slowdown on global spectrum, the realty sector is still finding it hard to supply houses/flats to fulfill the ever- increasing demand. “Still we run short of 200 million houses or flats. Finding the ever growing middle class people, particularly youths with changed perception of life style-both husband and wife aspiring to achieve better career opportunities want a dwelling place that has fully developed facilities with greenery all around. The modern youth endowed with technical and scientific bent of mind has become the engine of prosperity and exclusive growth in India,” observed Mr. Parveen Jain.

The youths belonging to EWS have no less talents and can make achievements provided they are given a chance and opportunity. Thus if the family or the wards of such families are also given due share in housing projects, the Indian social restructuring can be realized.

‘Builders and developers need not shirk their social responsibility in building a better and strong India and provide a deep foundation on exclusive social growth that needs to be realized, said Jain.

Parveen Jain, has already won a number of awards for excellence displayed with entrepreneur’s skill, social consciousness, transparency and honesty.

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