TDI Infracorp performs Bhoomi Pujan of 'Lakeside Heights' at LakeGrove City

TDI Infracorp, one of the leading real estate developers of North India, shaping memorable stories for last 25 years, performs the Bhoomi Poojan of its architectural marvels Lakeside Heights, 2 and 3 BHK Apartments at LakeGrove, a town built around a lake in Kundli, Delhi NCR on Friday 7^th march 2014.

“Lakegrove” is an integrated township built around artificial lake in Kundli-Sonepat. The world-class township endows lavish lifestyle compete with Skyscrapers, High rise, Water Side Floors; Independent Villas & Plots which offers an unparalleled level of magnificence and serene view of the lake. In Lakeside Heights the company will develop 416 beautifully planned apartments with 2 and 3 BHK Apartments, Homes that epitomize affordable Luxury, Lakeside Heights will be the dream homes for all middle income groups’ buyers.

Speaking during the occasion, Mr. Nitesh Kumar, COO, TDI Infrastructure Ltd said,, “We are delighted to  have an overwhelming response for Lakegrove. As a responsible real estate developer we always believe to enhance your life style with world class amenities. We are proud to perform Bhoomi Pujan of Lakeside heights apartments. Lakeside heights will be an example of modern life style and the choicest destination for smart home seekers.”

“The project has been master planned by the leading architectural firm of London, HOK which has earlier designed the Delhi Airport (T3 terminal) and Lavasa Township. HOK has been associated with some stunning architectures of the world like Barclays World Headquarters, UK; Zagreb Mall, Croatia and many other architectural and engineering marvels, to name a few” Mr. Kumar added.

Strategically located, in north of Delhi on main NH 1 in Kundli-Sonepat, TDI Lakegrove is just 15 minutes away from the posh and upmarket residential hubs of North and Northwest Delhi like Pitampura, Rohini and Punjabi Bagh through the signal-free MukarbaChowk. With improving infrastructure and upcoming fast connectivity, Kundli-Sonepat is emerging as the new hotspot for end-users and buyers. The upcoming 135 km long Kundli-Manesar-Palwal (KMP) Expressway could make the real estate projects on Kundli-Sonepat zone more viable for investors. The much awaited Kundli-Manesar-Palwal (KMP) Expressway (also known as the Western Peripheral Expressway) which inter-connects for national highways NH-1, 2, 8 and 10 in Haryana will be fully operational soon while work on Kundli-Ghaziabad-Palwal (KGP) stretch is also under progress.

The infrastructural developments will be buoyed by setting up of a 5000 acre Rajiv Gandhi Education City of which IIT Delhi will be a part of the first phase development of 2000 acres, apart from this Ashoka University, Asian Educational Society, Foundation for organizational research and education (FORE), ManavRachna University, N.C. College of engineering and research, Hindu School of Architecture, RIMT Technical Campus, Shri Balwant Institute of Technology and Research, BharatiVidyapeeth University, Pune, SRM University Haryana and National Law university are also starting their operation.   Other projects like Hospitals, Education Centres, Resorts and Recreational amenities are also brimming with growth in the region.

There is a full pace infrastructure development in the form of a 100 metre wide road from Narela to IGI Airport too. Other developments in the vicinity include SEZ, the Rai Industrial Area, a Proposed Cyber City, extended Metro, and Rapid Rail Transit System (RRTS), linking Kundli from Delhi in just 20 minutres.

Budget Expectation by Mr. Nitesh Kumar, COO, TDI Infracorp (for interim budget 2014-15)

Real Estate Sector is the second largest employment generator after agriculture in India and it is also contributing almost 8% to our GDP. In this interim budget, we can’t expect much but the real estate sector is granted industry status. Introduction of Real Estate Regulatory Bill and Land Acquisition Bill in the parliament are good steps but we hope that some rational approach is taken to provide equal opportunity for all stake holders before making the law. Liberalization of finance for the real estate sector would be a big booster as financing has been an important issue over years of credit slowdown. The budget should also pay attention on external commercial borrowings for real estate and provide a general relaxation in the financing norms.

 

Higher interest rates of funding is a major setback for the sector and therefore  the government should introduce provisions in the budget to provide some policy incentives to reduce the base rate through Reserve Bank to help banks lower their lending rates. Government should also provide some incentive to low income and middle income group to help them acquire houses for themselves. It is also important to reduce the tax rate on long term capital gains on transfer of house property. Income tax benefit should be given to the buyers directly as a tax break from their personal taxes to encourage and promote purchase of housing up to Rs 75 lakh in NCR and Rs 50 lakh in tear-II cities.