Page 18 - CV April-May 2019 issue

RESIDENTIAL PROPERTY PRICES MAY RISE IN SECOND HALF OF THIS
FINANCIAL YEAR

“By the middle of FY 2020, market To give a boost to the sector, the
sentiments are expected to further change government and the Reserve Bank of India
with acceleration in price growth. As are taking positive steps. The RBI has cut
demand will spiral upwards, prices will rise,” rates twice in 2019 to bring down repo rate
said the report. Hyderabad emerged as the to 6%. “The central bank has shown a
healthiest market for real estate in 2018-19, positive stance by announcing a reduction in
according to the report, and it is expected to key lending rates. Home buyers now stand
be one of the fastest growing residential to benefit by having a higher purchasing
markets in the current fiscal. In the last power, enabling them to buy premium
Residential property prices across India's
quarter of the previous fiscal, Bengaluru homes of their choice,” said Om Ahuja, chief
major markets are expected to rise in the
witnessed highest growth with 4% quarter- operating officer-residential business, K
second half of this financial year as sales
on-quarter increase in total sales to around Raheja Corp.
momentum is expected to pick up pace with
8,800 while Delhi-NCR saw 3.5% growth to
an increase in demand.
over 13,270 units. Other markets such as This year will see increased vigour
The downtrend in prices was arrested with
Pune and Mumbai saw marginal growth of stemming from policy overhauls,
some markets witnessing an increase in
1.3% and 0.1% respectively in sales, at stabilisation of prices and rising demand,
demand. “In the past five years, bigger
11,200 units and 18,000 units, during the according to experts. Some buyers may
residential markets like Delhi-NCR (National
last quarter of 2018-19. defer their buying decisions owing to the
Capital Region) and Bengaluru saw a
“Sales volume is coming back and, despite ongoing general election. Besides, the
marginal dip in average property prices
flattish market, we have seen price moving sector is expected to feel liquidity crunch in
while Mumbai, Pune and Hyderabad
up in our projects. In the current fiscal we the first half of 2019 and new housing
witnessed 2-3% rise in average prices, said
expect prices in the existing and upcoming project launches are likely to remain muted.
a recent report by 360 Realtors and Liases
projects to see higher than inflation growth,”
Foras.
said Anand Narayanan, COO, Puravankara.
ALSTOM BAGS RS 700 CRORE CONTRACTS FROM MUMBAI, PUNE METROS
The contract for the Mumbai metro, awarded company said in a statement Thursday. the Pune metro, awarded by the Maha Metro
by the Delhi Metro Rail Corporation, is to Rail Corporation, will see Alstom providing
provide the CBTC signalling system as well The contract for the Mumbai metro, awarded the CBTC technology for the two corridors, to
as a state-of-the-art telecommunication by the Delhi Metro Rail Corporation, is to control 31 trains on the 32 km-long stretch,
system for the three elevated lines.Rail provide the CBTC signalling system as well allowing them to run at higher frequencies &
transportation major AlstomNSE 1.55 % has as a state-of-the-art telecommunication speed. "Our technologies will help enhance
bagged Rs 700 crore contracts to the system for the three elevated lines. the quality of life in both these cities," Alain
Mumbai and Pune metros, under which it will Spohr, managing director for Alstom India
supply communication-based train control The signalling scope includes design, and South Asia said.
technology to three upcoming lines in the manufacture, supply, installation,
megapolis and two upcoming lines in second testing and commissioning of
largest city in the state. Urbalis 400 and also includes
supply and commissioning of on-
The Rs 700-crore contracts include board equipment for 63 coaches.
equipping the Mumbai metro lines 2A
(Dahisar to DN Nagar), 2B (DN Nagar to The telecommunications scope
Mankhurd) and Line 7 (Andheri East to includes public address systems,
Dahisar) and the first and second metro lines passenger information display
in Pune, with Urbalis 400, the French rail systems, fibre optic transmission
transportation major's communication-based systems, CCTV, and access
train control (CBTC) technology, the control systems. The contract for

16 / CONSTRUCTION VISION / May June 2019