YEAR ENDER: Expectations of real estate industry from 2013
Source : The Times of India
Most industry experts have indicated that problems such as rising cost of input materials, and labour, and high interest rates will further put the industry under stress. This coupled with huge genuine demand will further push property prices in the coming year.
Income tax on property: A ready reckoner
Source : The Times of India
One of the most appealing reasons to buy property is the tax benefits that can be derived. Investments in property offer triple benefits: capital appreciation, tax exemptions and rental income, if applicable. Additionally, the financial burden that comes with a housing loan is easily offset with the tax benefits, which we'll examine case by case.
Bhiwadi is also called as the gateway of Rajasthan, is the fastest growing industrial town in the outskirts of Metro City Bhiwadi. The prime industrial town of Bhiwadi and Rajasthan, Bhiwadi comprises of 3 industrial areas name Bhiwadi, Choupanki and Khushkera. Thisarea is spread over approx. 5300 acres and at present around 1000 industries are operational.
Bhiwadi is located at the East End of Rajasthan in Tijara Tehsil of Alwar District, just 55 km away from the Indira Gandhi International Airport, New Delhi, 200 km form State Capital Jaipur, 90 km from Alwar, 40 km from Gurgaon, 60 km from Faridabad and 5 km from NH-8 (Delhi-Jaipur highway) on the Dharuhera-Sohna Road.All in all well-connected township of Bhiwadi keeps you in touch with the world without the noise and pollution of a metro city.
Bhiwadi sub-region is playing a major role in the economic development of Rajasthan. Spread over 3347 acres of land and 3000 acres area are proposed for extension, Bhiwadi has around 1,000 tiny, small, medium, large, industries and including MNC industrial units manufacturing various types of products. They include all types of industries like steel, furnace, electronics, engineering, textiles, pharmaceuticals, printing, cables, rolling mills, food processing, herbal care etc.
Bhiwadi can boast ample facilities and civil amenities. Residential colonies like Ashiana, Konark Oasis apart from housing board UIT and Bhagat Singh Colony among others. A fairly good number of health care facilities which includes Private Clinics & Hospitals / Nursing Home & Govt. Hospitals are available. Shopping Complexs and Malls ( Coming Up) are also adequate & growing. Classic Golf Course, Wet & Wild Resort, Country Club Resort and Heritage Village are in proximity too.
The reputed Rotary,Bharat Vikas Parishad & Lions club too are present in the city. Some well organised educational institution like Modern Public School, St. Xavior School, Starex International, DPS Rewari are to name a few. Almost all premier Banks like HDFC, ICICI, SBI, SBBJ, PNB, OBC, BOB, Yes Bank, etc. have their branches in Bhiwadi. Hotels, restaurants and other recreational facilities are available here.
Nestled within the industrial township of Rajasthan Industrial Investment Corporation (RIICO), situated away from the crowded city, Bhiwadi is the perfect destination within Bhiwadi to settle down.
Well known as gateway to Rajasthan, Bhiwadi is in Alwar district, and bordering Haryana, is a key industrial growth centre of the National Capital Region with over 2500 operational industries. This development owes its reason to the government’s plan to develop Mumbai-Delhi Industrial Corridor where Bhiwadi figures under Phase I of the project.
The entry of several new multi-national companies in and around Bhiwadi have acted as catalysts to the growth of the region.
The commercial properties in Bhiwadi are mostly ‘approved’ commercial spaces, conforming and in accordance with the by-laws of the administration of Bhiwadi. Most of the commercial places are high-rise commercial towers with excellent fagade, 100% electricity back-up, centralized security and maintenance, fire safety systems, landscaped open areas and plenty of space for parking.
The RIICO has developed 15 industrial areas in Alwar district which support over 300 large and medium scale manufacturing units. Omaxe Limited has announced plans to set up an Export Processing Zone (EPZ) and a multi-products SEZ project in Alwar district, near Bhiwadi.
Also up for approval are other Special Economic Zones (SEZs) in the vicinity, like Adani Exports, Kajaria Housing and SRM Infrastructure. An upcoming mega SEZ will be set up by the Reliance group. Two SEZs from Uppal group - one a 263-acre multi-service SEZ and another, a single product 62-acre SEZ on NH-8 will be easily accessible from here. Yet another SEZ on about 1,125-acre is being developed by RIICO at Kushkhera, 12 km from Bhiwadi - on the Alwar bypass road.
Bhiwadi has emerged as the new hub of commercial and residential activities. There are certain factors that have contributed to the newfound status of the place. Most of the companies that have relocated here are hi-tech software firms, call centers and MNC corporate offices. Brands such as Siemens, GE Capital, GE BPO Centers, Ericsson, Converges, American Express, American Financial Express, Nokia, Hughes Software, KPMG Intl, Bechtel, Coca-Cola, Pepsi Co, Microsoft, Reckitt & Benckiser, Alcatel, Hewlett-Packard, Honda, IBM, Motorola, Fidelity and many more still jostle for space in this city. Bhiwadi is a prudent choice for industries, BPO and multinational companies to set up their offices.
Bhiwadi affords easy access to different resources needed for manufacturing and outsourcing. Due to Bhiwadi’s excellent location, infrastructure, manpower and accessibility to airport, it’s a perfect place for the real estate to grow exponentially.