Latest news with #PrashantThakur
India Today
16-07-2025
- Business
- India Today
Will rain drown Gurugram's luxury real estate?
Luxury sedans floating like paper boats, torrential rain, flooded roads. Visuals from Gurugram have once again raised questions about the state of infrastructure in one of India's most expensive real estate media has been flooded with videos of water-logged roads, high-rises and upscale neighbourhoods, highlighting a growing concern: can Gurugram's luxury real estate hold its value when the city struggles with basic drainage? Commuters make their way through the waterlogged service road along the Delhi-Gurugram Expressway after heavy rainfall, in Gurugram, Wednesday, July 9, 2025. (Photo: PTI) Even with this repeated flooding, buyers are not shying away from putting their money into high-end homes in areas like Golf Course Road and Golf Course will this trend continue if the infrastructure fails to keep up?LUXURY PRICES LIKELY TO HOLD, BUT GROWTH MAY SLOWDespite the civic troubles, experts believe the luxury housing market in Gurugram is not facing a major correction, yet.'Gurugram's luxury market sees massive demand from both end-users and serious investors and, unfortunately, also from investors with speculative intent. Because there is also genuine demand, prices are likely to sustain,' said Dr Prashant Thakur, Regional Director & Head – Research & Advisory, ANAROCK he added that the pace of price growth may slow Verma, COO of Shray Projects, agreed to this and said that lxury prices have grown sharply since Covid, driven by lifestyle upgrades and NRI interest."In well-developed sectors, demand remains strong,' he said. That said, in some areas where prices have moved ahead of value, minor corrections could happen, he ESTATE BUBBLE?With prices rising sharply in premium areas like Golf Course Road, some experts have raised concerns about a real estate Thakur said, 'We have not seen a bubble yet. The market today is more mature and regulated than in 2008.' However, he cautioned that if developers keep launching high-priced projects without checking demand, oversupply could become a problem in the too believes there is no bubble, but a price peak in certain luxury pockets is visible. 'Buyers are becoming more careful and focusing on long-term liveability, not just investment,' he DO BUYERS STILL CHOOSE GURUGRAM?Even with repeated flooding, power cuts and traffic congestion, buyers continue to invest in Gurugram's luxury projects. What makes them stay?'Gurugram offers strong connectivity, proximity to Delhi, and premium amenities,' said Dr. Thakur. These are the reasons people see long-term value in the city, despite its civic added that many luxury projects are now built with in-house systems for drainage, power backup and water management. 'Even if city infrastructure lags, these gated projects offer a self-contained lifestyle,' he INFRASTRUCTURE GAPS IMPACT LONG-TERM VALUE?Bad drainage and traffic jams are not new in Indian cities, and Gurugram is no exception. According to Dr. Thakur, infrastructure gaps haven't slowed down price growth yet, especially in premium noted that while poor infrastructure can affect short-term prices, areas showing gradual improvement — like Southern Peripheral Road and Dwarka Expressway, continue to attract buyers.'Infrastructure issues affect how fast homes sell, but not necessarily their long-term value,' he growing concern is that developers seem to be building faster than the city can support.'There's a visible gap between private and public investment,' said Verma. Developers are launching luxury projects to meet demand, but government upgrades in drainage, roads and utilities haven't always kept pace. 'This puts pressure on basic services, especially during peak seasons like monsoon,' he Thakur said that while this has not reduced demand so far, it is something buyers must factor in when choosing where to BUYERS NEED TO WATCH OUT FORBoth experts agree on one thing: buyers need to be cautious. High prices and strong demand don't mean every project is worth the money.'People should be aware of how infrastructure affects daily life. Also, price growth may not be as fast going forward,' said Dr. warned buyers against falling for flashy marketing and inflated prices in underdeveloped areas. 'Check RERA compliance, builder track record, and local infrastructure before investing,' he advised.A slight correction, he added, is not a sign of weakness but part of how markets adjust. 'For end-users and long-term investors, this is still a strong market, if you make informed decisions.'- Ends advertisement
Hindustan Times
30-06-2025
- Hindustan Times
‘Have asked parents to take back abandoned baby: Police
PANVEL: Within 24 hours of a two-day old baby girl being found abandoned at Takka in Panvel on Saturday morning, police have traced her parents to Bhiwandi. Both the mother and father are from well-to-do families and they abandoned the baby as their family members did not know about their marriage last year, police said. The couple has been asked to take back the child, presently under the Child Welfare Committee's (CWC) custody, police officers familiar with the case told Hindustan Times. A handwritten note in English, placed in the basket she was found in, said her parents were abandoning her due to their 'mental and financial' situation (HT PHOTO) The baby was discovered around 6.30am on Saturday on the footpath outside Swapnalay girls' orphanage at Moraj Residency in Takka colony. A handwritten note in English, placed in the basket she was found in, said her parents were abandoning her due to their 'mental and financial' situation. The discovery triggered widespread concern and Panvel MLA Prashant Thakur said on Saturday that all necessary steps would be taken to ensure the child's safety and secure her future. During investigation, unit central unit-II of the Panvel crime branch found footage from a CCTV camera installed along the road opposite the orphanage which showed a burqa-clad woman abandoning the baby at the spot in the early hours on Saturday, said police. 'The footage showed a burqa-clad woman alighting from a car with a basket at 2.42 am. The woman crossed the road and placed the basket with the baby near the orphanage, then went back to the car. The car left the spot by 2.44am as another vehicle passed by,' said a police officer who requested anonymity. Assistant commissioner of police (crime) Ajay Landge said the baby's parents were traced based on CCTV footage of the car and other technical leads. 'The mother and father are 23 and 24 years old, respectively. Both are educated, from well-to-do families and live in Bhiwandi,' said Landge. Senior police inspector Nitin Thakare from Panvel city police station said they interrogated both parents on Sunday. 'The couple said they had married secretly last year and since their families didn't know about it, they could not keep the child. We have let off with a warning and asked them to take back the child after due process,' said Thakare. The baby is currently under the CWC's custody at Vatsalya Punarvikas Kendra, a rehabilitation centre in Alibaug.
Time of India
29-06-2025
- Time of India
‘We're sorry': Newborn left outside Panvel orphanage with handwritten note; 'someday they might return to take back their baby'
NAVI MUMBAI: A new born girl was found abandoned on a pavement right outside an orphanage in Panvel Saturday morning. Swaddled in a blanket, she had been placed in a plastic basket which also had a feeding bottle, baby food and baby clothes. Tired of too many ads? go ad free now A note, in English, was also found in the basket. The handwritten note states that the person who has left the newborn feels 'sorry for abandoning' the infant. It goes on to say that they are 'mentally and financially incapable of taking care of her', and goes on to mention that someday they might 'return to take back' their baby, claiming that they are located somewhere close by. The infant is currently being nurtured at Vatsalya Charitable Trust, Alibaug. Acriminal offence for abandoning an infant has been registered at Panvel police station against unidentified persons. Senior inspector Nitin Thakare said they are scanning footage from CCTV cameras around the locality where the infant was found. Member of legislative assembly Prashant Thakur from Panvel has assured that appropriate measures would be taken regarding the future of the abandoned infant.
Time of India
23-06-2025
- Business
- Time of India
Rising prices for shrinking houses: How lavish lifestyle comes at the cost of higher loading factor; check this before you buy
Imagine an Olympic-size swimming pool, a swanky multistorey clubhouse, badminton and tennis courts, and landscaped gardens. A few years ago, you would have been picturing a luxury retreat nestled somewhere in the hills. But what was once a dreamy escape is now part of everyday life for many. An oasis of calm, comfort and luxury awaits Indian homeowners within plush housing complexes mushrooming amid the hustle-bustle of its big cities. However, this elevated living comes with a sharp trade-off: homebuyers are paying through the nose for open spaces, while making do with less living space. Lavish living, cramped spaces When you buy an apartment, you do not just pay for the liveable area within its four walls. A portion of the cost also goes toward shared spaces in the housing society—this is known as the ' loading factor '. It refers to the proportionate share of ancillary common areas and amenities added to the carpet area (usable inner home area) and included in the price charged to the buyer. It essentially refers to the difference between the super built-up and the carpet area of an apartment. To put it simply, the carpet area refers to the floor space where you can actually lay a carpet. The built-up area includes the carpet area plus the space taken up by the walls and ducts. The super built-up area includes the built-up area along with a proportionate share of common spaces such as the staircases, lift shafts, entrance lobbies, corridors, parking areas, and amenities. 'In India, property prices are usually calculated based on the super built-up area. While developers market homes based on this figure, the real value lies in the carpet area,' points out Akhil Rathi, Head– Financial Advisory at 1 Finance. A recent report by ANAROCK throws light on the steep premium homebuyers are paying for their lap of luxury. According to the real estate consultancy, the average loading factor in apartments across India's top seven markets has climbed sharply from 31% in 2019 to 40% in January-March 2025. This means that of the total space you are paying for, only 60% is the home interior, while 40% of the cost is for the common areas and amenities. In the past, a loading of 25-30% was the norm. Loading factor has surged MMR faces highest loading; Bengaluru sees steepest rise Homebuyers' preferences for a certain lifestyle is contributing to this trend. Nowadays, homebuyers covet expansive lounge areas with cafes, state-of-the-art gymnasiums, rooftop decks and multi-purpose utility areas. Experts point out that the loading factor is directly proportional to the amenities in a project. The cost of additional amenities provided by the developer is usually passed on to customers in the form of loading charges. Invariably, loading will be higher for larger projects, where more space is allotted to amenities and common areas. Live Events Prashant Thakur, Regional Director & Head–Research & Advisory, ANAROCK Group, observes, 'Today, higher amenity loading has become the norm across most projects partly because homebuyers are no longer satisfied with basic lifestyle amenities— they expect fitness centres, clubhouses, park-like gardens, and grand lobbies.' Additionally, regulatory and safety requirements, such as fire escapes, utility zones, and larger elevators, further increase the common areas, thereby adding to the loading, points out Rahul Purohit, Cofounder & Chief Business Officer, Square Yards. But the flip side is that homebuyers end up giving up on actual living spaces. Buyers often end up paying a premium for homes with less actual living area because the pricing is based on the super built-up area, not the space the residents actively use, Rathi explains. 'While such facilities may enhance the community living experience, they also reduce the size of individual units, resulting in tighter bedrooms or smaller living spaces,' he says. Jayesh Rathod, Co-Founder and Director of The Guardian Real Estate Advisory, asserts, 'Homebuyers are increasingly paying a significant portion of their total home cost for shared spaces rather than actual liveable space.' 'While high loading doesn't automatically lower resale prices, it may narrow the pool of interested buyers due to perceived space inefficiency", says Akhil Rathi, Head – Financial Advisory, 1 Finance. According to the ANAROCK report, Mumbai Metropolitan Region continues to see the highest loading among the top seven cities, with 43% in January-March 2025. Bengaluru has seen the highest percentile jump in average loading over the last seven years–from 30% in 2019 to 41% in January-March 2025. The ANAROCK report suggests this dovetails with the increasingly higher saturation of modern amenities that developers now include to cater to the higher lifestyle ask in the IT hub. Chennai, on the other hand, has the least average loading rise in January-March 2025 with 36%, aligning with a city-specific demand profile where homebuyers prefer to pay more for usable space within their homes rather than for common areas. In 2019, Chennai's average loading percentage was 30%. Same budget, different loading factors Knowing the loading factor helps assess value. Balancing act For homebuyers, the loading factor of an apartment is critical when evaluating projects with extensive amenities and open spaces. It is indicative of the functionality of the house. It also reveals the real value behind the price tag. Loading ratio tells you how much space you get for the money you spend. If the ratio is higher, it implies that you are paying a higher price per square foot than the advertised cost. Homebuyers can effectively compare relative value proposition of different projects. For example, if two apartments—Unit A and Unit B—each have a super built-up area of 1,000 sq ft and are priced atRs.75 lakh, but their loading factors are 25% and 33% respectively, it means Unit A offers more liveable space at 800 sq ft compared to Unit B's 750 sq ft. This trade-off between amenities and functional space begs careful consideration. 'This trade-off, paying more for less private space, has become a growing concern among urban homebuyers, especially in cities where affordability is already a challenge,' says Rathi. Individual preferences may differ, so buyers should evaluate offers accordingly. 'Higher amenity loading has become the norm across most projects partly because homebuyers are no longer satisfied with basic lifestyle amenities," says Prashant Thakur, Regional Director & Head -Research & Advisory, Anarock. 'For buyers who value access to curated amenities and community experiences, the premium associated with such projects can be well worth it, even if it means a slightly smaller functional space,' avers Purohit. Conversely, for those who prioritise maximum carpet area and functional layouts over lifestyle features, choosing a project with minimal loading and fewer amenities might be more suitable, he adds. Loading may also impact the resale value of your house. It can bolster or dilute the appeal of the tenement, depending on buyer preferences in the secondary market, experts say. Housing prices have shot up sharply Bengaluru has seen highest jump; Mumbai commands biggest premium. 'On one hand, projects with premium amenities and lifestyle-driven features often appeal to a certain segment of buyers looking for comfort, convenience, and community living. However, if the functional space feels significantly compromised, it could limit the resale pool or affect price appreciation over time,' contends Purohit. 'Higher loading may affect the resale value in some cases, particularly when similar properties in the vicinity or even nearby locations offer more usable space at the same price,' Thakur remarks. How to calculate loading factor Buyers must verify charges to avoid overpaying for less space. If super built-up area is 1,000 sq ft and carpet area is 750 sq ft: Older or more thoughtfully designed homes with minimal loading and better space distribution often attract greater interest during resale, Rathi points out. However, if a new project is developed by a well-known builder and offers premium amenities, some buyers may still find value in the overall lifestyle offering. 'So, while high loading doesn't automatically lower resale prices, it may narrow the pool of interested buyers due to perceived space inefficiency,' Rathi adds. Get clarity on the loading factor For homebuyers, clarity on the loading factor and actual living area is essential. Unfortunately, the practise of 'loading' in real estate is shrouded in a web of secrecy. Developers conveniently do not mention the loading factor in their glossy sales brochures. Regulations do not mandate developers to disclose this figure either. This leaves homebuyers in the dark about the value they are getting. To be sure, the Real Estate (Regulation and Development) Act, 2016, requires developers to mention the total carpet area provided to homebuyers. But not all states enforce the law. 'In most cases, buyers across cities, except in Maharashtra, are unaware of how much they pay towards the overall usable space within their apartment,' avers Thakur. Besides, there is no law that currently limits the loading factor in residential housing. It is left to the discretion of the developers, who justify higher loading for the amenities provided. In the absence of any regulation, some developers charge loading as high as 50% or more for their projects, experts point out. The onus is on buyers to remain vigilant. Here's what you can do: Ask your builder, the exact carpet area you are paying for and compare it with the super built-up area. 'Request a clear breakdown of costs, what portion goes to actual usable space and what is for common amenities,' says Rathod. Compare carpet-to-super built-up ratios across similar projects, thoroughly study floor plans, and, if needed, consult an architect or a real estate adviser. 'Comparing loading percentages across projects can highlight anomalies and offer a strong basis for negotiation, especially if the loading appears excessive,' Purohit comments.
Hindustan Times
13-06-2025
- Business
- Hindustan Times
Why more amenities may mean less space in your new home: What homebuyers should know about the loading factor
When buying an apartment today, especially in the luxury segment, you're not just paying for four walls. Modern projects often include clubhouses with restaurants, reception areas, lounges, and other upscale amenities. While these features enhance lifestyle, they also contribute to a higher loading factor, and ultimately, a higher price tag. Although most developers now quote prices based on RERA-defined carpet area, buyers may still end up paying more due to the cost of expansive common areas. The growing trend toward amenity-rich living highlights the importance of transparent disclosures, ensuring that homebuyers get clarity on exactly how much private living space they're paying for. 'Amid the rising demand for real estate projects with modern amenities, the 'loading' factor has been on the rise across the top cities of India,' according to a report by ANAROCK, a real estate consultancy. The loading factor is the difference between the super-built-up area and the carpet area of the apartment. The report said the loading factor is the highest in the Mumbai Metropolitan Region (MMR) followed by Bengaluru, and Delhi NCR. 'While RERA now requires developers to mention the total carpet area provided to homebuyers, no law currently limits the loading factor in projects," Prashant Thakur, Regional Director and Head, Research and Advisory, ANAROCK Group, said. 'Q1 2025 data shows that homebuyers in the top seven cities now get only 60% of the total space they pay for as actual liveable area within their apartments. The remaining 40% comprises common areas such as elevators, lobbies, staircases, clubhouses, terraces, and other amenities. Back in 2019, the average loading was around 31%,' Thakur said. Also Read: Mumbai real estate market: Planning to sell a flat in an old building? Here's why it can be tough According to real estate experts, developers are expanding common facilities, gyms, pools, lounges, and fire-safety infrastructure, to meet rising homeowner expectations. While these amenities enhance comfort and resale value, they reduce actual living space within individual apartments. They said homebuyers are now paying significantly more for common areas in modern apartment projects. The shift toward amenity-rich developments boosts lifestyle quality but underscores the need for transparent disclosures to ensure buyers aren't short-changed on living space. "Technically, apartments are to be sold based on RERA carpet area, which means there shouldn't be any concept of a 'loading factor'. Yet, in practice, it still exists without formal recognition," Jayesh Rathod, co-founder and director of The Guardians Real Estate Advisory. For instance, while homebuyers purchase apartments based on the RERA carpet area, the overall cost continues to rise, not just due to market appreciation or higher construction costs, Rathod said. Also Read: Homebuyers can't seek reimbursement of home loan interest from developer for delay in completion of project: SC Over the years, FSI (Floor Space Index) and premium charges have increased significantly. As a result, developers stick to the rule book but expand construction in common areas to manage approval costs. Ultimately, these costs, whether directly or indirectly, are passed on to homebuyers, leading to an increase in the effective loading ratio, Rathod explained. According to the Anarock report, MMR continues to see the highest loading among the top 7 cities, with 43% in Q1 2025. The region has seen the average loading percentage grow steadily over the years, from 33% in 2019 to 39% in 2022 and 43% in Q1 2025. Chennai, on the other hand, had the least average loading rise in Q1 2025, with 36%, aligning with a city-specific demand profile where homebuyers prefer to pay more for usable space within their homes rather than for common areas. Also Read: Supreme Court reaffirms that property shares become self-acquired after a joint family split, granting the right to sell In 2019, Chennai's average loading percentage was 30%, like Bengaluru's. It gradually rose to 32% in 2022 and 36% in Q1 2025. In NCR, the average loading percentage rose from 31% in 2019 to 37% in 2022 and to 41% in Q1 2025. Further, Pune's loading factor was 32% in 2019, rose to 36% in 2022, and stood at 40% in Q1 2025. Hyderabad's loading percentage increased from 30% in 2019 to 33% in 2022 and to 38% in Q1 2025. On the other hand, Kolkata's average loading factor increased from 30% in 2019 to 35% in 2022, and further to 39% in Q1 2025.
