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Huda to launch fresh sectors across state to raise funds

Posted on Aug 09, 2016
Gurgaon: Huda is about to launch 15 new sectors in urban areas across the state. The announcement was made last week. By selling plots in these, the authority hopes to tide over its financial crisis. Huda expects to earn more than Rs 3,000 crore from selling plots in these sectors. Towns to reap the windfall include Mahendragarh, Sirsa, Hisar, Kurukshetra, Yamuna Nagar, Bahadurgarh (Jhajjar), Pihowa, Hathin, Rohtak, Dalvali, Bhiwani, Gohana and Pinjor, with the first two getting two sectors each.

More than 6,200 residential and hundreds of commercial plots will be up for grabs in these 15 sectors. "Huda can earn over Rs 100 crore just by selling forms (one form costs Rs 1,000) for the draw of lots for plot allotment," said a senior Huda official.

Huda chief administrator Vikas Gupta has directed zonal administrators to launch the new sectors by six months.

No new sectors are being added to Gurgaon — Huda's pride, which can fetch good amount of money. An official clarified there are 115 sectors under Gurgaon-Manesar Plan, of which up to 57 sectors were developed by Huda, with sectors 59-115 being developed by private realtors. "We have no land left for new sectors in Gurgaon. Most of the remaining land is in private hands," he said.

Huda is going through a deep financial crisis, with the state government expressing its inability to provide it financial assistance. The urban development body is now trying to raise funds from its own resources to complete ongoing development works. However, the ongoing recession in the real estate market may be a dampener on Huda's plans. In March alone, Huda had listed 96 commercial properties in Gurgaon, Dharuhera and Rewari for auction, of which, only 10 commercial properties were sold out. Since then, Huda has had limited success in its attempts at selling its unsold plots in developed sectors.

Despite all these, Huda is confident of attracting buyers for its residential plots in these new sectors of urban areas. "Huda is facing a financial crisis, which is affecting its development work. So we're exploring different ways of raising funds," said a senior Huda official. He continued, "Huda is also exploring the possibility of taking a loan against its land bank." According to an estimate, Huda needs over Rs 23,000 crore for stalled development work in Gurgaon alone.

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Gurgaon, Noida home sales fail to recover on high circle rates despite in prices

Posted on Jun 07, 2016
GURGAON: The property market in NCR is at its lowest ebb. Prices have either plateaued out or fallen over the past couple of years. Like any bear run, this ought to have got buyers looking for long-term returns interested. But that hasn't happened. As much as the trust-deficit has spooked investors, a devil hiding in the detail has further queered ...
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Gurgaon's realty space gets a double boost

Posted on May 12, 2016
GURGAON: The Haryana government has unveiled a two-pronged measure to create more space for housing in its cities by allowing plot owners to increase ground coverage as well as purchase additional floor area ratio(FAR).This means the state's urban spaces, particularly NCR cities like Gurgaon and Faridabad, will get both taller and more congested as ...
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Central Park unveils its new project Flower Valley

Posted on Apr 25, 2016
Gurgaon based real estate developers Central Park has announced the launch of its project “Central Park-Flower Valley” a premium integrated township at the South of Gurgaon, Sohna.According to the company, “Central Park – Flower Valley is a complete township replete with myriad choices of homes, world class physical, spiritual and social amenities ...
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KKR invests Rs700 crore in three realty projects

Posted on Dec 30, 2015
KKR India Asset Finance Pvt. Ltd has invested about Rs.700 crore in three real estate projects in back-to-back transactions, making the December quarter its most robust deal-making period this year.The local arm of private equity firm Kohlberg Kravis Roberts and Co. LP has invested Rs.200 crore in structured debt to SARE Homes group housing projec ...
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Mahindra Lifespaces launches Luminare Solaris in Gurgaon

Posted on Dec 17, 2015
Delhi/Gurgaon : Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has launched Luminare Solaris, the next phase of its luxury residential project in Gurgaon.Luminare Solaris follows the highly successful launch of the first phase of the project, muchappreciated for its exclusive ...
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Experion Developers to invest Rs 175 crore in commercial project in Gurgaon

Posted on Sep 11, 2015
NEW DELHI: FDI-funded realty firm Experion Developers has tied up with Milestone Ventures to develop a commercial project in Gurgaon at a cost of about Rs 175 crore.The project, spread over about 4 acres land, would have a built-up area of about 4.3 lakh sq ft.With this tie up, Gurgaon-based Experion would foray into commercial segment. It is alrea ...
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37C Gurgaon: Affordable and well-connected

Posted on Aug 11, 2015
Delhi/NCRSector 37C of Gurgaon is fast emerging as one of the most promising residential development hubs in Gurgaon with affordability, road connectivity, location, and handsome appreciation being its USPs. Ravi Kumar Mangalam writesSector 37C, Gurgaon, is developing as an attractive residential hub being minutes away from Hero Honda Chowk and in ...
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SARE Homes launches Gurgaon project at lower price

Posted on Aug 10, 2015
Bengaluru: Real estate firm SARE Homes on Wednesday launched its Olympia housing project in Gurgaon, pricing 1,295 sq. ft three-bedroom flats at an all-inclusive Rs.90 lakh, sharply lower from the Rs.1.5 crore at which it had sold similar homes a year and a half ago.The company has also added easier payment schemes to attract buyers for the 330 apa ...
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DLF to hike rates in Gurgaon project despite low demand

Posted on Aug 06, 2015
New Delhi: Realty major DLF will increase the price of its apartments in a housing project at Gurgaon by 4 per cent despite sluggish sales and slowdown in the overall real estate market.DLF has decided to increase the price of flats in its housing project 'Regal Gardens' by Rs 250 per sq ft to Rs 6,500 per sq ft effective from July 15.The country's ...
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Experion Developers launch Windchants

Posted on Jul 08, 2015
Windchantsis a unique blend of Residential Mix of over 3.1 million sq. ft of Built areas and has 35 Low rise Villas, 68 Mid-rise Duplexes and 460 High Rise Apartment and Condominiums, overlooking the Delhi Greens, in over 23.4 acres in Gurgaon, India. The development is a symphony weaved around landscaped hubs clustered with theme activities.Windch ...
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Unitech to raise 200 cr for housing projects

Posted on Jun 22, 2015
Realty firm Unitech plans to raise about Rs200 crore from private equity players to part finance its ongoing housing projects as real estate market continues to remain sluggish.The company has no plans to launch new housing projects this year and would focus on delivery of existing projects.The company has been facing problems in one of its housing ...
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DLF may close two private equity deals by September to raise Rs 1,000 crore

Posted on Jun 04, 2015
NEW DELHI: India's largest realty firm DLF is looking at closing two private equity deals worth around Rs 1,000 crore by September to part-finance its upcoming housing projects in Chennai and Gurgaon.DLF had announced plans in February to raise over Rs 3,000 crore through divestment of stakes in certain housing projects to private equity (PE) playe ...
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CHD Developers to invest Rs 350 crore in new project in Gurgaon

Posted on May 27, 2015
NEW DELHI: Realty firm CHD Developers Ltd today said it will invest about Rs 350 crore over the next four years to develop a housing project in Gurgaon.In a filing to the BSE, Delhi-based developer said that the company will come up with a new project in Sohna, Gurgaon."The land is spread over an area of 10.025 acres with a total saleable area of a ...
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CHD launches CHD Resortico

Posted on May 15, 2015
CHD, one of the leading Real Estate developer in Northern India today announced the launch date of its forthcoming project “CHD Resortico” on 15th May, 2015. Strategically located with just 10 minutes drive from the thriving city of Gurgaon, CHD Resortico features reasonably priced Smart One Bedroom Serviced Apartments, for the young and agile. The ...
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Ashiana Housing launches project in Sohna

Posted on May 07, 2015
NEW DELHI: After delivering over 14 million square feet of residential and commercial spaces in Bhiwadi, Jaipur, Jodhpur, Jamshedpur, Patna and Lavasa, realty major Ashiana Housing Ltd has moved closer to Delhi and Gurgaon with their latest residential project 'Ashiana Anmol' at Sohna.With the sky-rocketing prices of real estate in the region of De ...
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Huge Demand for Affordable Housing Projects in Gurgaon and Faridabad - GenX Deals

Posted on Apr 24, 2015
New Delhi, Delhi, IndiaThe popular belief of shelling exorbitant money to own a house in plush areas of Gurgaon and Faridabad is all set to change. Haryana, which has emerged as a premium property hub, is embarking on affordable housing projects to make the dream of living in the posh societies come true for a common man.The new policy of Haryana g ...
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Delhi Prime Location Housing Prices Down up to 20%: JLL India

Posted on Apr 16, 2015
New Delhi: Housing prices in many prime colonies of the national capital have declined by up to 20 per cent since 2013 but the rates were stable in Gurgaon and Noida, according to property consultant JLL India.The Delhi-NCR property market is currently "under stress" and offers attractive valuation for end-users, it said."Residential prices in esta ...
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Supertech to invest Rs 2,400 crore to develop township at Gurgaon

Posted on Apr 14, 2015
NEW DELHI: Realty firm Supertech today said it will invest Rs 2,400 crore over the next five years to develop a township project on 140 acres land that the company has bought from Parsvnath DevelopersBSE 4.96 % at Gurgaon in Haryana."We have completed the deal to buy 140 acres land from Parsvnath Developers for about Rs 700 crore," Supertech Managi ...
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Golden opportunity to realise your dream of owning a house in the millennium city

Posted on Mar 24, 2015
Under Affordable Housing Projects, private developers are offering flats priced as low as around Rs 13 lakh for 1BHK and Rs 18 lakh for 2BHKAfter witnessing a dip for certain period, Gurgaons real estate sector is back on track after the state government introduced Affordable Housing Projects 2013 keeping in mind the lower-middle and middle segmen ...
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