APRIL 20249TOP STORIESDWARKA EXPRESSWAY TO SPIKE REAL ESTATE PRICES IN GURGAONThe inauguration of the Dwarka Expressway by Prime Minister Narendra Modi is anticipated to catalyze real estate prices in the Gurgaon area, according to real estate experts.Various developers, including Sobha, Raheja, Signature Global, M3M, Godrej, and Hero Realty, have ongoing projects along the corridor, with some planning to launch additional projects due to expected increased demand resulting from infrastructure development.Anshuman Magazine, chairman of CBRE for India, South-East Asia, the Middle East & Africa, noted a promising reduction in unsold inventory levels in these sectors, from a notable 25-30 percent eight to 10 years ago to a mere 7-8 percent now, following the completion of the expressway.CBRE anticipates property and land prices in the vicinity to appreciate in the coming years, offering attractive returns on investment for early investors. The real estate segment surrounding the expressway is predominantly residential, with some retail projects.Pradeep Aggarwal, chairman of Signature Global (India), highlighted that the expressway's phased development is significantly contributing to the advancement of city locations, attracting attention from both homebuyers and investors. The new expressway is expected to enhance connectivity for areas such as the Southern Peripheral Road (SPR), New Gurugram, and Sector 37D at Dwarka Expressway, consequently driving price appreciation and promising a bright future for the real estate market in the region.The 29-km Dwarka Expressway, designed to provide an alternative link between Delhi and Gurgaon to alleviate traffic congestion, has attracted developers who have acquired large land parcels and subsequently launched numerous housing projects along the expressway. Santhosh Kumar, vice chairman of the Anarock group, highlighted that investors view it as one of the most promising and fruitful investments. STONE SAPPHIRE INDIA TO FUNNEL RS 1,000 CRORE IN HOMEWARES PLANT IN BARODAToys and writing material producer Stone Sapphire India will contribute Rs 1,000 crore to set up an assembling office for homewares like glassware, sippers, dinnerware and so on, in Baroda. Stone Sapphire India (SSPL) Executive Vick Rana said that homeware products accessible in India are either for the lower class or extremely very good quality for the tip top and leave an immense vacuum for working class purchasers."Our work on new plant and capacity expansion has already begun in Baroda which is focused on the homeware segment. We are investing Rs.1000 crore on this expansion," Rana said.The Baroda plant will produce little kitchen apparatuses, metal cookware, and drinkware. This will assist with expanding not simply the creation limit with respect to the Indian market yet in rises exports by something like 50 percent, accordingly making items in India for the world, he expressed. Rana also said this development will assist the organization with expanding its turnover to Rs 1,000 crore by 2025-26 from Rs 250 crore as of now.He said: "Ever since our association with global dinnerware giant Corelle USA, the brand sales have increased by 20 per cent. The massive support from our retail fraternity has been overwhelming, further strengthening our belief in the home segment. The 27,000 retailer touchpoint base is constantly increasing and we aim to increase it to 50,000 touchpoints in the next 5 years..The firm secures a land parcel of approximately 1.3 million square feet in Baroda, which is presently only 40 percent used."The green factory structure is already ready, and we are in advance talks for the import of machinery," he stated.The organization signed its parternship into the home segment around four years ago as the sole importer and supplier of global dinnerware giant Corelle USA.
< Page 8 | Page 10 >