Monday, 14 May 2018

Link road expansion to cut travel time from Dwarka expressway to Hero Honda Chowk

GURUGRAM: The tender for the six-lane road connecting DwarkaExpressway with Delhi-Jaipur Expressway, also known as NH-8, is likely to be floated in August this year, said Haryana PWD minister Rao Narbir Singh in Gurugram on Sunday.


Talking about the project, the minister said, “The tender for the six-lane project, including a flyover at Umang Bhardwaj Chowk, will be issued in August,” said Narbir.

TOI had earlier reported that GMDA will develop a six-lane connector from Dwarka Expressway that will meet NH-8 at Hero Honda Chowk. It will be an expansion of the existing 5.8km-long two-lane road between Hero Honda Chowk and Dwarka Expressway.

The road, which is mainly used by Old Gurugram residents as an alternative route to reach NH-8, witnesses massive snarls due to huge volume of private and commercial vehicles. The road was earlier supposed to go up to Umang Bhardwaj Chowk, but was later extended to Dwarka Expressway. Along with a flyover at Umang Bhardwaj Chowk, the same project will now include another flyover at Basai Chowk.


The total cost of the project was earlier projected at around Rs 147 crore, but the minister didn’t give out any information on the cost escalation on Sunday.

The six-lane project was first proposed during chief minister Manohar Lal Khattar’s visit to Gurugram in April last year, when he had inspected various ongoing projects in the city. Khattar later announced a revamp and widening of the road in August, after it was approved by GMDA in its first meeting.

Following Khattar’s announcement, the state government sought funds from the National Highways Authority of India (NHAI), though the latter eventually did not sanction the funds, said Narbir. “Since NHAI declined to take up the project, the state government decided to develop the six-lane road on its own, through GMDA,” said Narbir on Sunday.

Narbir was speaking at the inauguration of road carpeting work of the road connecting Sector 10 to Pataudi, which was carried out at a cost of Rs 80 lakh. Narbir also spoke of the upcoming bus stand and railway stations, both of which are being developed to meet “international standards”.

“Development works worth Rs 10 crore will be carried out in the city in 2018-2019,” said Narbir.

Making a pitch for the upcoming state elections, he said development at this scale is only possible because the chief minister has got his priorities right and has Gurugram’s best interests in mind. “One could be of any political lineage, but everyone will agree Gurugram has seen a lot of development over the last four years,” said Narbir.

Source :  https://timesofindia.indiatimes.com/city/gurgaon/link-road-expansion-to-cut-travel-time-from-dwarka-expressway-to-hero-honda-chowk/articleshow/64152214.cms

Thursday, 3 May 2018

HUDA INVITES APPLICATIONS FROM OUSTEES TO ALLOT PLOTS

CHANDIGARH: In a bid to settle all oustee claims, the Haryana urban development authority (Huda) will be inviting applications from oustees for allotment of plots by the month-end. The applications will be invited through advertisements.

J Ganesan, chief administrator, Huda, said, “We are in the process of collecting all the details regarding the plots available, and the oustee numbers in each of our estate offices. As soon as this information is ready we will issue advertisements inviting application from the oustees for allotment of plots. We expect the entire process to be completed in a month.”

Oustees are people whose lands have been acquired in lieu of allotment of plots, in addition to the compensation received under the Land Acquisition Act.

The scheme will be exclusively for the oustees.

Following the directions of Punjab and Haryana high court, Huda will allot plots in a sector to the oustees before the general applicants.

Settling several contentious issues regarding the oustees’ plot allotments, the HC had earlier directed that if there are any unallotted plots in a sector in the state, they would henceforth be first allotted to the oustees to the extent of reservation in their favour and only thereafter be allotted to the general applicants.

The HC had also stated that to get a plot under the oustees’ quota, such a person has to apply for the plot and he would not be automatically entitled for allotment of plot without any application.

In line with the HC order, Huda estate offices will invite application from the oustees. A screening committee headed by administrator, for each estate office, will examine the applications submitted.

Allotment of plots will be made as per the current price. The price will be calculated as per the Huda formula.

Allotment of plots to oustees has long been a contentious issue with many approaching courts against policies in place.

Source : http://paper.hindustantimes.com/epaper/viewer.aspx

Saturday, 28 April 2018

HNI investor eye office space in OBD

Bengaluru:Bids are soon going to be invited for the sale of around 30,000 sq ft of prime retail and office space in the central business district (CBD) of Bengaluru. The targeted bidders are ultra-rich individuals and family offices.


Rathnam’s Complex, also popularly called the Jewels de Paragon building, located in the heart of the city, in Lavelle Road, and the base price for the sale is Rs 40 crore for the entire space or a minimum of one of the four floors

JLL is running the exclusive mandate for the sale.

The sale of the building comes at a time when United Spirits Ltd, owned by Diageo Plc., is in the process to sell 30,000 sq ft in UB City, a high-end retail and office complex in Bengaluru. JLL, which is running the mandate for the sale, is evaluating nine bids that have been submitted by HNI investors and family offices.

“There is huge demand for good quality office space in CBD areas. There is a lot of interest among individual, smaller investors to buy office space particularly when there are opportunities in prime locations in a city. Residential sector isn’t doing well and there is no access yet to REITs (real estate investment trusts), so this is a good way of putting money in real estate,” said Juggy Marwaha, executive managing director, JLL India.

Prime office space in CBD areas across cities up for sale and HNIs and family offices are flocking to buy.

Over the last few years, individual investors have largely stayed away from making fresh investments in residential projects while struggling to sell off and exit earlier investments, amidst a slowdown scenario that has deeply impacted the housing sector.

Comparatively, the commercial office segment as an asset class has fared much better, with high demand for such space and huge institutional investor interest.

ICICI Prudential Real Estate Investments, a division of ICICI Prudential AMC Ltd, recently sold four of its five commercial office investments to ultra-rich individual investors and family offices. Among them are one individual building, and several standalone office units, including a couple of units in Mumbai’s prime office hub Bandra-Kurla Complex.

The firm had invested around Rs450 crore across five transactions in Mumbai, Pune and Noida for a 550,000 sq. ft portfolio, which was leased to large international tenants. These exits resulted in an internal rate of return (IRR) of 10-21% on the investments.

An April report by CBRE South Asia Pvt. Ltd reported that during the January-March period, Bengaluru reported the highest demand for office space and accounted for more than the combined share of the markets of Delhi-NCR, Mumbai and Hyderabad.

Source : https://www.livemint.com/Companies/WxbqUQfKHfs2X5tYT1CCpN/HNI-investors-eye-prime-office-space-in-CBD-areas.html

Tuesday, 24 April 2018

Rs 11,000-cr Eastern Peripheral Expressway to complete in August: Nitin Gadkari

BAGPAT (UTTAR PRADESH): India's first smart and green highway -- Eastern Peripheral Expressway -- for decongesting Delhi will be completed in August this year, Union Minister Nitin Gadkari said today.

Prime Minister Narendra Modi will dedicate to the nation the 135-km, the nearly Rs 11,000 crore access-controlled six-lane expressway.

The project is replete with smart and intelligent highway traffic management system (HTMS) and video incident detection system (VIDS) besides a closed tolling system in which the collections will be made only on the distance travelled and not on the entire length.

"The project, most likely, will be completed in August this year. We have spent a huge Rs 5,900 crore on land acquisition. Once complete, This will reduce traffic congestion in Delhi and will have the best automatic traffic management system, landscaping, besides wayside amenities. We're planting at least 2.5 lakh trees and the expressway will be lit by solar panels," Road Transport and Highways Minister Gadkari said here.

The Eastern Peripheral Expressway will set a benchmark in highway construction by being environment-friendly with world-class safety features and smart/interactive infrastructure, the minister said.

The project, which commenced on September 14, 2015 will consume a million tonnes of flyash from NTPC's various thermal plants to utilise waste and minimise pollution.

The greenfield project, which hit several hurdles and saw laying of its foundation by Prime Minster Narendra Modi on 5 November, 2015, will divert around 2 lakh vehicles passing through the national capital daily to this bypass, cutting out pollution.

Gadkari, who inspected the project sites in Delhi, Uttar Pradesh and Haryana, said the toll plazas will be equipped with the faster Electronic Toll Collection (ETC) system offering an uninterrupted travel experience to users.

"The Expressway will be equipped with HTMS which will include Variable Message Signs (VMS), CCTV, VIDS, Warning Devices, Overspeed Checking System, Weigh-in-Motion, Pavement Management Systems and Fibre Optic Network.

All information collected from HTMS equipment will be relayed to a central server in control room which will, on the basis of input, trigger alarms and change VMS messages etc. This will result in real-time incident management," he said.

Along the expressway, wayside amenities like petrol pumps, motels, rest areas, restaurants, shops, repair services etc will be developed, he said.

Landscaping will be done at all the interchanges, major bridges and toll plazas with provision of fountains and lighting and a total of about 2.5 lakh trees of various species will be planted as green belt within row of the Project Expressway, he added.

Unique features of the project will be rainwater harvesting at every 500 metres on either side of the Expressway and the watering of the plants will be done through drip irrigation, he said.

In keeping with the Prime Minister's Swachh Bharat Mission, provision of toilets will be made at regular intervals along the expressway on either side at a distance of 25 km, he added.

The expressway passes through Sonipat, Bagpat, Ghaziabad, Gautam Budh Nagar, Faridabad and Palwal in Haryana and Uttar Pradesh, and the proposed alignment crosses river Yamuna at Khurrampur/Khata in UP and Faizpur Khadar in Haryana and crosses the river Hindon.

The project will consume 10.2 lakh tonne cement, about one lakh tonne steel, 19 lakh tonnes of sand and 50 lakh tonnes aggregates. Manpower employed is 7,275.

The project had earlier faced resistance from farmers over land and other issues which have since been solved by giving higher compensation.

The Supreme Court has directed police chiefs of Uttar Pradesh and Haryana to provide adequate security for expeditious completion of the project.

The project work has been divided into six packages and are being carried out by Sadbhav Engineering, Jai Prakash Associates, Ashoka Buildcon, Oriential Structural Engineers and Gayatri Project and barring package III, the physical progress of the packages was between 57 and 61 per cent.

Package III, being built by the debt-laden construction and cement firm Jaiprakash Associates, made only 36 per cent progress.

There are about 400 structures in this project out of which two major bridges are on river Yamuna and one major bridge on river Hindon and Agra Canal.

There are 8 interchanges, 4 flyovers, 71 vehicle underpasses, 6 RoBs etc.

"Eastern Peripheral Highway is just the beginning. We will make 12 such express highways. Three of such highways will be started in 2017 itself," Gadkari said.
Source : https://bit.ly/2qSmjfm