KARNAL... A RETIREMENT RETREAT

“The Town Of Karnal, Is Soaking In Real Estate Projects As National Developers Line Up Their Residential And Commercial Projects Here.”

After Gurgaon, Panchkula and Faridabad , experts feel that Karnal in Haryana will be the next big thing to watch out for as it has everything going for it – strategic location, well laid out infrastructure and roads – all the economic drivers and a socio-cultural environment which are conductive to development.

An idyllic retreat, Karnal is far from the madding crowd and as Avinash Tandon, who had a brief stint at a Panipat refinery at Engineers India Ltd, puts it: “Bangalore and Pune are now in the grip of last paces urbanization and they have betrayed the definition of pensioners’ paradise. But Karnal truly embodies that definition and is the new age pensioners’ paradise, just the kind of place where I would love to live post retirement.”

Near Namaste Chowk, in sector 35 and 36 are residential townships by Ansal Housing &construction as well as Ansal API Ansal Town by Ansal Housing is spread over 130 acres and has 810 numbered plots, measuring between 200 and 500 sq yard (200, 250, 358, 374, 419, 500 sq yard), which are being sold at the rates between of Rs. 7000 and Rs. 7500/sq yard. A 200- to 300 sq yard plot is going for Rs.7500, 300-400 sq yard for Rs.7250/sq yard and 400-500 sq yard plot for Rs. 7000/sq yard.

Adjacent to Ansal Housing project is the another Ansal project and this can often lead to confusion, like for instance, investors going by one groups advert even have ended up investing in the other. Ansal APIs township spread over 350 acres has plots of sizes ranging from 239, 300, 400, 500 sq yard at the rate of Rs.6000- 6250 per sq yard but the bookings for phase I have closed now they are getting approvals for the second phase.

Ansal APIs has a group housing component; Sushant Royale spread over 11.25 acres

(Ground plus 6) with each flat having built up area ranging from 1427 to 2833 sq ft. In all

these are additional external development as well as internal development charges. Possession of plots will commence by mid-2009 and flats by October 2008.

Alpha G Corps integrated township Alpha International City near Liberty Chowk is spread over 141 acres and has a total of 1129 plots, of which 20% are EWS (237 plots on 60 sq yard) and NPNL plots over 164 sq yards. The plots of sizes 250, 360, 500, 970 sq yards are available at the rate of Rs.8, 500 per sq yard and they are charging a premium over the prevalent market rates. “We are providing world-class amenities and social environment that is worth the premium,” explains Deepender Sing Nanra, senior manager at Alpha G Corp.

This includes an MOU with GEMs international high school on 8 acres, with healthcare institutions such as Max and retail majors such Big Bazaar and plans for organic farms and theme parks and eco-friendly environment within the complex. While phase I will be ready by May 2009, the next phase, post 2009 will have commercial development plus group housing 2/3/4 BHK on a G+6 format.

CHD developers are also coming up with integrated township with plot, plot plus villa, and group housing. The first group to test the market with the apartments was Aerens with their Palms Residency project and they got fairly good response. With so many projects, and more in the pipeline, thequestion to be asked is who is driving the sales investors, or end users and local market. Clearly, the developers want us to believe that their projects are supported by the local market. Nanra says: “in 2005-06 we had investors from Delhi but later we got a good response from the local market. These included Karnal coming residents, as well as people in the neighbouring towns such as Gharounda, Panipat who wanted to graduate to an uptown location.”

Courtesy: -27^th June 2008

(ET REALTY)][\[]]]