With over 15 years of experience in the construction business, Ruhil Developers Pvt Ltd has made a name for itself in the city of Bahadurgarh in Delhi NCR. Currently, the group has been foraying into both industrial and residential markets and believes in the potential of this town as a potential investment destination. Neeraj Ruhil, MD of the group tells Shradha Goyal about his expectations from the market in the coming year.
What are your expectations from the Delhi’s real estate market in 2014?
With the new stable government in Delhi, we see a favourable environment for real estate in Delhi NCR. We see a major growth happening in Bahadurgarh as Delhi Metro is coming-up with an elevated corridor which will connect Bahadurgarh to all parts of Delhi in 2016. Also, with land acquisition in Delhi not being the flavour of the new government, we see maximum demand in NCR cities including Bahadurgarh. This makes us believe that Bahadurgarh will be the market to invest in, for the year 2014.
Did you launch any new projects in 2013? If yes, where? Why did you choose these locations? Give details?
We did not come up with any new projects in 2013. However, currently, we are in the advancing stages of our residential group housing project, Ruhil Residency in Bahadurgarh. The project is being constructed in Sector-3, which is in the heart of Bahadurgarh city and has an easy access to the metro rail. Spread over 10 acres, we chose Bahadurgarh for its connectivity to Delhi and Gurgaon via the NH-10 and also through the Kundli – Manesar – Panvel (KMP) expressway. We plan to hand over the possession of this project in 2015.
Which locations in the city witnessed maximum launches in 2013? Why?
Bahadurgarh Bypass has seen the maximum launches. It’s a 75 meter wide road with service lane. In near future, it will become one of the most sought after real estate destination for homebuyers because of its impeccable connectivity to Delhi, good infrastructure and Delhi metro’s arrival.
What was the volume of sales and stock in the year 2013 vis-à-vis the last year?
In Bahadurgarh city there is a huge demand of residential apartments and floors. Every developer in the city has managed to exhaust the entire inventory. We see huge demand for new projects in this region. The prices will remain stable and there is every possibility for it to appreciate at a decent rate in 2014.
What will be the impact of the upcoming general elections on the real estate sector in Delhi?
In event of a stable government at the center, things will only improve for real estate. We see buoyancy in the market in the latter half of the year. In Bahadurgarh, which is a part of Haryana, state elections are scheduled for 2014, so we don’t see any downward movement in the near future.
Which were the most preferred property type, configuration and budget ranges across the city in the year 2013?
We have seen maximum demand in 2 and 3 bedroom apartments and floors. Prime properties have a range of around Rs 3,500 per sq ft. These are the most sold property types in the market currently.
Source : TOI