Wednesday, January 7, 2015

Green Park Regency Row House Located off Sarjapur Road, Bangalore offered with 3BHK and 4BHK Row Houses.

Green Park Regency Row House Area Range 2496 - 3420 Sq.ft, Located off Sarjapur Road, Bangalore offered with 3BHK Row Houses and 4BHK Row Houses.

Green Park Regency is a trend-setting clustered homes project with an identity of its own where living derives a new definition. Set amidst a wooded area off Sarjapur Road near Amrutha College of Engineering and far from the air and noise polluting influences of the urban jungle, Green Park Regency is approached by a wide tree lined avenue and incorporates landscaped gardens with security controlled entry gates to provide additional security and privacy. The cluster concept ensures quick completion time compared to traditional projects and you have the dual benefit of a house coming to you sooner along with the additional savings from having to wait for a shorter period of time for possession of the property.

The project is intended to give you cost benefits of an apartment while retaining all the benefits of an independent house. Each house, mostly facing North and accessed by common driveways, has private terraces, utility areas, good cross ventilation and lighting. Set in a low human density per acre area, the project assures you of an exclusive living environment.

We’ve ensured that your time at home is well spent; the green surroundings ensure you stay relaxed, the club house around the corner provides you the ideal environment to socialise and break the sweat, should you choose to. A swimming pool, a multi-purpose-cum-badminton-hall, gym, indoor games and other functional amenities are standard.

Expensive land, high financing costs and multiple approvals is keeping many real estate players away from affordable housing projects. Pranav Ansal, Vice-Chairman, Ansal Properties and Infrastructure Ltd, said that meeting the target of Government’s ambitious scheme ‘Housing for all by 2022’ is be close to impossible, despite the positive sentiment in the industry after the BJP came to power.

Ansal added that no big developer enters affordable housing sector due to high land costs. “We have no plans of doing it unless the Government changes some bye-laws or give some benefit such as higher floor area ratio (FAR),” he said. According to Government estimates, the housing shortage in India is close to 18.78 million, 97 per cent of this is in the economically weaker section and low income group.

Urban Development Minister M. Venkaiah Naidu has maintained that the Government is banking on private participation and an interest subvention plan would be announced soon with the new housing mission. But, real estate players say that interest cost is only part of the problem. Raj Gehlot, Chairman, Ambience Group, said, “FAR needs to be hiked and infrastructure needs to be in place to accommodate higher FAR.”A recent Cushman & Wakefield study revealed, launches in affordable housing segment dropped by 52 per cent in eight cities in third quarter of 2014 as against the corresponding period last year.

Rohit Raj Modi, President, CREDAI- NCR, said, “The Government needs to address the double taxation on land component, as stamp duty is paid by the developer when he purchases the land and also by end buyer. In order to make affordable housing lucrative for developers, the state needs to give VAT waiver and Centre needs to reduce the excise duty.” He added that a multi-agency committee should be formed to provide single-window clearance. Builders argue that apartment costs can be reduced if the time taken to get licenses can be brought down. On an average it takes 1-2 years to get all clearances for a housing project.

Some States such as Haryana have taken steps to make affordable housing possible through the Affordable Housing Policy, 2013, which has received several applications. Under this policy, Supertech will be offering houses between Rs.12 lakh and Rs.20 lakh, while Raheja Developers unveiled a project in Sohna offering 1,660 apartments priced at Rs.3,600 per sq ft. Tata Housing too is developing townships under the brand Tata Value Homes which offers affordable housing in Boisar, Vasind, Ahmedabad, and Bengaluru. Brotin Banerjee, MD & CEO, Tata Housing Development Company, expects the demand for affordable housing to increase by 20 per cent per annum at least for the next decade. “The Government has already relaxed FDI norms in construction which will help in project financing. The sector now requires introduction of key reforms and streamlining of the regulatory approval process,” he said.
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