Soumendu ChatterjeeSoumendu Chatterjee, City Lead – Kolkata, ANAROCK Property Consultants

Commissioned in the late 1970s, EM (Eastern Metropolitan) Bypass in Kolkata was previously a long stretch of road abutting undeveloped land.

EM Bypass stretches from Bidhannagar to Kamalgazi and was built to create a high-speed link between the northern and southern fringes, and also to reduce the perennial traffic congestion on Gariahat Road.

EM Bypass connects some of Kolkata’s prominent localities such as Salt Lake, Maniktala, Park Circus area, Gariahat, Sealdah Railway Station, Jodhpur Park, Selimpur, Lake Gardens, Jadavpur and Garia. EM Bypass also provides excellent connectivity to distant parts of Kolkata and other cities.

Located close to Kolkata’s CBD (central business district), the EM Bypass region is today witnessing a surge in housing demand from thousands of employees working in the IT-ITeS companies, industries and public offices in and around it.

In addition to the continuous physical infrastructure upgrades such as ongoing metro and BRTS network, EM Bypass is adequately endowed with social infrastructure. There are a number of retail malls/shopping complexes, high-end hotels and restaurants, hospitals and educational institutions on both sides of the Bypass.

Anuj PuriAnuj Puri, Chairman – ANAROCK Property Consultants

  • Seasonal swelling, eroded mangroves a major cause of flooding
  • Cleanup was supposed to start in June ’18

Despite the repeated claims of the Mithi River Development and Protection Authority (MRDPA) to make the river risk and stench-free within the next two years, the progress has been far from satisfactory.

The river continues to be the sewage disposal stream for Mumbaikars, and the clean-up act – promised to start from June 2018 onward – has yet to see the light of the day.

In what could be called a saving grace, the authorities have been successful in preventing 2005-like floods in the city, or else this laxity in the river clean-up would have been embarrassingly highlighted.

The authorities continue to pat themselves on the back for the deepening and widening of the river over the last decade at the cost of a whopping ₹1200 crore, which they claim has helped make the river ‘almost completely safe.’

The fact that it continues to be a toxic cesspool puts a big question mark on the ‘safety’

Dwarka_Expressway

Prashant Thakur, Head – Research, ANAROCK Property Consultants

Conceptualized under the Gurugram Master Plan 2021, Dwarka Expressway or the Northern Peripheral Road (NPR) was initially planned to connect Dwarka in Delhi to Palam Vihar in Gurugram.

However, it was further extended to Kherki Dhaula toll plaza intercepting NH 48 as per the Master Plan 2025.

Stretching along 18 km, this 8-lane and 150-meter-wide expressway aims to provide seamless connectivity between Delhi, Gurugram and Manesar.

The expressway passes through sectors 109, 113, 37D, 88B, 105, 99 and many other sectors which saw an upsurge in residential real estate activity since its announcement.

With land acquisition issues over the years, the residential real estate market along the region suffered a major setback.

However, the recent clearance of all major hurdles here has given a new ray of hope to prospective buyers and investors focused on Dwarka Expressway’s many transit-oriented benefits.

The major attraction of Dwarka Expressway is its seamless connectivity between Gurugram and Delhi.

  • Road: Sectors along Dwarka Expressway will enjoy excellent connectivity to Delhi and the international airport.

Santhosh Kumar, Vice Chairman – ANAROCK Property Consultants

For a very long time, real estate developers and investors focused almost exclusively on the metros and tier 1 cities, as these were considered the safest bets for sales and returns on investment. After all, these cities were generating the most employment and therefore inward migration.

As a result, the metros and tier 1 cities across India are currently experiencing the immense pressure of overpopulation due to urban migration in search of better livelihood and enhanced quality of life, thus resulting in an inadequate infrastructure for the citizens.

The Smart Cities Mission, launched in 2015, aims to tackle the escalating problems being faced in urban areas with regards to transportation, energy supply, governance, basic urban infrastructure services and overall quality of life.

Although the mission is trying to address these issues to a certain extent, the challenges of remodelling India’s tier 1 cities into smart cities are considerable, as many of them have reached their saturation point.

Tier 2/3 cities stage a comeback

As a result, more and more real estate demand and supply are now drifting down towards tier 2 and tier 3 cities of the country.

 Prashant Thakur, Head – Research, ANAROCK Property Consultants

Nestled in the foothills of Aravalli – one of the oldest range of folded mountains in India – Sohna was for long a major tourist attraction due to its lakes, hot springs, temples and many places of historical importance.

Located in the southern part of Gurugram, Sohna is also popularly known as ‘South Gurugram’. In the last few decades, Gurugram’s unprecedented economic growth has led to accelerated urbanization and rapid growth in migrant population flocking the city for employment.

Over time, the fast-paced growth in key areas such as MG Road, Udyog Vihar and Cyber City has created a ripple effect and pushed developments towards the western and southern parts of the city. This led to the emergence of new areas such as Golf Course Road, Golf Course Extension Road, Southern Peripheral Road (SPR) and Sohna Road – leading right up to Sohna town.

With proximity to various business centres and industrial clusters, good overall accessibility, affordable prices and planned infrastructure upgrades, Sohna is evolving as a key real estate destination for the working population of Gurugaram and surrounding regions.

Santhosh Kumar, Vice Chairman – ANAROCK Property Consultants

The Finance Minister’s fifth union budget on 1st February 2018 was probably one of the most closely-followed events for the Indian business community.

Not only was it the final budget before the 2019 general elections, but strong rumours of a populist Budget were sending all sorts of mixed signals to various industries.

In any case, all sectors – and specifically real estate – had harboured considerable hopes from this Budget. Battered and bruised after demonetization, RERA and GST, the sector looked forward to at least some major announcements that could re-inject the market into a growth trajectory.

Above all, real estate players fervently hoped for the long-awaited and long-elusive infrastructure status. The logistics sector and affordable housing had received it sometime back, but the market needs the benefits of infrastructure status on a much broader spectrum.

Expectations notwithstanding, the real estate industry got neither infrastructure status or, for that matter, any additional direct policy push from Union Budget 2018-19.

Why is infrastructure status so important for any sector?

How can this status impact the country’s economy at large?

Anuj Puri, Chairman – ANAROCK  Property Consultants

‘Infrastructure status’ typically helps to raise long-term funds at low rates and attract significant foreign investments.

The Government’s recent move to grant infrastructure status to the logistics sector is extremely progressive and will to make funding easy and cheap for companies that operate industrial parks, cold chains and warehousing facilities.

With massive investments likely to flow in the logistics sector, the Government’s plan to develop 35 MMLPs to serve as centres for freight aggregation and distribution, multimodal transportation, storage & warehousing and value-added services, is advancing in the right direction.

As per the Government’s notification dated 20th November 2017, logistics infrastructure was included by insertion of a new item in the renamed category of ‘Transport and Logistics’.

Logistics infrastructure includes Multi-Modal Logistics Park (MMLP) comprising Inland Container Depot (ICD) with a minimum investment of INR 50 crore and a minimum area of 10 acres, Cold Chain Facility with a minimum investment of INR 15 crore and a minimum area of 20,000 sq.ft., and/or Warehousing Facility with a minimum investment of INR 25 crore and a minimum area of 1 lakh sq.ft.