Latest news with #Transit-OrientedDevelopment
Indian Express
7 days ago
- Business
- Indian Express
RRTS boosts land prices in Meerut, Ghaziabad; 30% to 67% growth witnessed since October 2023
Land prices and housing demand have increased along the Delhi-Ghaziabad-Meerut stretch of the Namo Bharat corridor, with data from developers and consultants showing a 30% to 67% rise in property value since it began operations in October 2023. The Namo Bharat corridor, built at a cost of ₹30,274 crore, connects Delhi to Meerut through Ghaziabad. It is the first of several Regional Rapid Transit System (RRTS) lines planned across the National Capital Region (NCR). The 82-km line is currently operational over a 55-km section. 'When the Namo Bharat project was conceptualised, one of the aims was to enable polycentric development in the NCR… We are also harnessing the potential of Transit-Oriented Development (TOD) in the region to foster vibrant, liveable communities,' Shalabh Goel, managing director of the National Capital Region Transport Corporation (NCRTC), said. The city that seems to have benefited the most is Meerut, where land rates have reportedly increased from ₹8,000-12,000 per square yard to ₹12,000-20,000. Properties within two kilometres of Namo Bharat stations have seen a 30% to 50% increase in value in the last two years, according to market estimates. Industry representatives say the rise in demand is being driven by improved access to Delhi and changes in commuter behaviour. The Meerut Development Authority has earmarked 3,273 hectares for TOD in its 2031 master plan. Of this, 2,442 hectares have already been delineated into TOD zones and special development areas. These areas will be served by both the RRTS and the local Meerut Metro. Developers said there has been growing interest in plotted housing, gated societies, and mid-rise apartments in parts of Meerut and Ghaziabad. 'Property prices in areas along the RRTS route have appreciated by 35-40%, reflecting a structural shift driven by infrastructure-led demand… Meerut is fast positioning itself as a credible alternative to legacy NCR markets,' Pritam Mishra, senior vice president at Paras Buildtech, said. 'This is not a cyclical upswing but a deep, infrastructure-driven revaluation of the market,' he added. Real estate firms said that residential development is being accompanied by commercial activity, with integrated townships, healthcare facilities and educational centres being planned within walking distance of transit nodes. According to Santosh Agarwal, executive director of Alpha Corp, a consultancy, 'The combination of affordable land, world-class infrastructure, and increasing demand for premium, sustainable developments is positioning Ghaziabad and Meerut as prime locations for commercial enterprises, tech startups, and skilled professionals.' Samir Jasuja, Founder and CEO of PropEquity, which conducts research in the field, said, 'The Delhi-Meerut RRTS will be a game-changer in the way people live and commute in Delhi-NCR. Its impact on the property prices in Ghaziabad is evident with the launch price of homes more than doubling in the last five years. In fact, branded developers have either forayed into or are scouting for land along or in the vicinity of this corridor. Bengaluru-based Prestige Group recently launched its project in Ghaziabad. At a time when the housing market across top markets is coming down from its peak, new launches and sales in Ghaziabad have lifted the Delhi-NCR housing market in Q2 2025.' Devansh Mittal is a trainee correspondent with The Indian Express. He studied political science at Ashoka University. He can be reached at ... Read More
Barnama
16-06-2025
- Business
- Barnama
PKNS, MBSA Form Strategic Partnership To Develop Shah Alam Sentral
SHAH ALAM, June 16 (Bernama) -- The Selangor State Development Corporation (PKNS) has formed a strategic partnership with the Shah Alam City Council (MBSA) to plan, implement, and coordinate the development project of Shah Alam Sentral (SA Sentral). The collaboration was formalised through a Memorandum of Understanding (MoU) signed today by PKNS group chief executive officer Datuk Mahmud Abbas and MBSA, represented by Shah Alam mayor Datuk Mohd Fauzi Mohd Yatim. Mahmud said the five-year agreement demonstrates the continued commitment of both parties to plan development more strategically and sustainably, by aligning efforts to rejuvenate Shah Alam into a high-tech, low-carbon, and revitalised city. "This strategic collaboration between PKNS and MBSA marks the beginning of the transformation of Sections 13 and 14 here—areas rich in history—that will be given a new lease of life to remain relevant and dynamic in today's development landscape. "As a rapidly growing city in terms of population density and urban development, this highlights the need for modern infrastructure, efficient public amenities, and sustainable as well as inclusive housing development", he said at a press conference following the MoU signing ceremony held at Galeria SA Sentral here. Mahmud said the SA Sentral development spans over 130 acres and will be implemented based on the Transit-Oriented Development (TOD) concept, encompassing modern residential areas, recreation, food and beverage (F&B) outlets, and senior living facilities. The project is expected to be fully completed by 2031. He added that the PKNS Complex in Shah Alam will undergo upgrades. At the same time, the Aneka Walk development project, situated adjacent to the iconic shopping mall, is expected to be completed and operational by the fourth quarter of this year. This will further boost the state's economic activities and provide spacious and comfortable business spaces for local entrepreneurs. "More than just a commercial hub, Aneka Walk is designed as a modern lifestyle destination that integrates retail, recreation, and entrepreneurship elements within an inclusive and community-friendly environment. "In addition, Plaza Perangsang will also be redeveloped into a hotel centre, and PKNS will soon sign an agreement with Grand Mercure as the operator," he said.
New Indian Express
21-05-2025
- General
- New Indian Express
One-third of Delhi commuters deprived of public bus stops, says study
NEW DELHI: About one-third of Delhi's neighbourhoods lack convenient access to public bus stops within a 500-meter radius, which is considered the standard for walkable access under India's Transit-Oriented Development (TOD) policy. Furthermore, Delhi's major roads are primarily served by long-haul buses, even though most commuters travel less than 4 kilometres for their daily trips. These long-haul buses are often impractical for use in densely populated areas, rendering them ineffective for many residents. These issues were highlighted in a recent study conducted by the International Council on Clean Transportation (ICCT), an independent environmental research organisation. The ICCT also noted Delhi's significant progress in expanding its metro network and introducing new buses through various government initiatives. However, access to affordable and reliable local transportation continues to be limited for many residents. It found that nearly one-third of Delhi's urban area lacks convenient access to formal bus services. For thousands of residents, daily mobility often involves long walks or costly last-mile connections, conditions that discourage public transport use and contribute to congestion and pollution.
Cision Canada
15-05-2025
- Business
- Cision Canada
249 new housing units in Saint-Laurent
Quorum launches construction of a sustainable and affordable project in the heart of Montreal MONTREAL, May 15, 2025 /CNW/ - During a groundbreaking ceremony attended by notable figures such as Emmanuella Lambropoulos, the federal Member of Parliament for Saint-Laurent; Alan DeSousa, the Mayor of Saint-Laurent; Vana Nazarian, City Councillor for the Côte-de-Liesse district; and Aref Salem, City Councillor for the Norman-McLaren district, Quorum announced the launch of its Dalia project. This residential complex will feature 249 rental units on the site of the former Valeant factory at 1956 Bourdon Street in the Saint-Laurent borough. Scheduled for completion in the summer of 2026, the project aims to provide sustainable and affordable housing, while seamlessly integrating into the urban landscape. Notably, a community consultation was conducted during the design phase to ensure alignment with local needs. The first phase, a seven-story multifamily building with 139 units, is currently under construction. The remaining three buildings, each three stories tall, will collectively offer an additional 110 units. IMAGES: CLICK HERE Located just steps from public transportation in a Transit-Oriented Development (TOD) area, as well as nearby parks and major employment centres, the Dalia project has garnered support from the borough, local stakeholders, and residents. The Government of Canada has provided substantial financial backing of $93 million through the Canada Mortgage and Housing Corporation's (CMHC) Rental Construction Financing initiative, helping to bring this vision of modern, responsible housing to life. The project is distinguished by its strong commitment to sustainable development. It is designed to achieve LEED certification and will incorporate a geothermal system, with a significant portion of the structure constructed using wood to minimize its carbon footprint. From the outset, recycling practices for construction material waste will be implemented. Several units will adhere to universal accessibility standards, ensuring inclusivity. Additionally, a community garden will be established on the rooftop, and a bike path will connect the neighbourhood to the nearby metro station. Highlights 249 rental housing units Solar panels on all buildings Geothermal energy as the energy source for the entire site Energy performance for each building 50% higher than the standards required by the energy code Land allocation for the development of a multifunctional bike path along the railway and a public easement on the Dalia project site to connect the neighbourhood to the Du Collège metro station via Bourdon Street More than 45% of the area dedicated to green space Community gardens on the roof of the seven-story multifamily building Land allocation to the adjacent school to allow for the expansion of its playground, benefiting the well-being of children Development of an embankment and a sound barrier adjacent to the railway on the Dalia site and on half of the school's property Quotes "I want to emphasize the dedication and innovation demonstrated by my team, along with the invaluable collaboration and support from the Saint-Laurent borough and numerous local stakeholders, which have enabled this project to advance efficiently. This collective effort is essential, almost vital, when striving to realize affordable projects with multiple sustainable development components." - Maxime Laporte, Partner and Director of Development, Quorum. "I am very proud to be part of the launch of Dalia in our area. By aiming for LEED Gold and Silver certifications, this project sets a new standard for developing affordable and sustainable housing. Moreover, by transforming an industrial site into a green residential neighbourhood, this project will help reduce heat islands and enhance our resilience to climate change. Situated within a TOD area, it will promote active transportation, exemplified by its new multifunctional bike path accessible to the entire community. This will also help open up this sector and continue our tradition of welcoming new families, as well as our passion for innovation and architectural excellence." - Alan DeSousa, Mayor of Saint-Laurent. "The Dalia project perfectly represents the type of initiative our government aims to support—affordable, sustainable housing that is well integrated into our community. I am pleased to have collaborated with Groupe Quorum to support their request for $93 million in funding from the CMHC for the development of affordable housing in Saint-Laurent. It is crucial to build communities where people can thrive, while considering sustainable development and accessibility. I am proud that this innovative project is coming to life here, greatly benefiting families, seniors, and young people in our community." - Emmanuella Lambropoulos, Member of Parliament for Saint-Laurent. "I am thrilled about the construction of sustainable and affordable housing for families in Saint-Laurent. This new real estate project of 249 units will help alleviate the effects of the housing crisis within my riding. It will provide residents with pleasant spaces close to public transportation, while reducing their environmental footprint. I commend the teams that participated in the various stages, ensuring this new living environment comes to fruition." - Marwah Rizqy, Member of the National Assembly for Saint-Laurent. About Quorum Quorum, a family-owned real estate developer based in Montreal for over 40 years, holds the prestigious Diamond Palm Master Builder award from the APCHQ. As a pioneer in the design, construction, management, and promotion of affordable, high-quality residential projects, Quorum has successfully delivered over 6,000 housing units in Greater Montreal and beyond. The company is celebrated for its expertise, comprehensive service, and meticulous attention to detail, creating projects that offer substantial value to the communities it serves. With a strong commitment to social responsibility, Quorum actively supports programs and initiatives that focus on fostering entrepreneurial youth and promoting academic perseverance. SOURCE Quorum
Yahoo
15-05-2025
- Business
- Yahoo
249 new housing units in Saint-Laurent
Quorum launches construction of a sustainable and affordable project in the heart of Montreal MONTREAL, May 15, 2025 /CNW/ - During a groundbreaking ceremony attended by notable figures such as Emmanuella Lambropoulos, the federal Member of Parliament for Saint-Laurent; Alan DeSousa, the Mayor of Saint-Laurent; Vana Nazarian, City Councillor for the Côte-de-Liesse district; and Aref Salem, City Councillor for the Norman-McLaren district, Quorum announced the launch of its Dalia project. This residential complex will feature 249 rental units on the site of the former Valeant factory at 1956 Bourdon Street in the Saint-Laurent borough. Scheduled for completion in the summer of 2026, the project aims to provide sustainable and affordable housing, while seamlessly integrating into the urban landscape. Notably, a community consultation was conducted during the design phase to ensure alignment with local needs. The first phase, a seven-story multifamily building with 139 units, is currently under construction. The remaining three buildings, each three stories tall, will collectively offer an additional 110 units. IMAGES: CLICK HERE Located just steps from public transportation in a Transit-Oriented Development (TOD) area, as well as nearby parks and major employment centres, the Dalia project has garnered support from the borough, local stakeholders, and residents. The Government of Canada has provided substantial financial backing of $93 million through the Canada Mortgage and Housing Corporation's (CMHC) Rental Construction Financing initiative, helping to bring this vision of modern, responsible housing to life. The project is distinguished by its strong commitment to sustainable development. It is designed to achieve LEED certification and will incorporate a geothermal system, with a significant portion of the structure constructed using wood to minimize its carbon footprint. From the outset, recycling practices for construction material waste will be implemented. Several units will adhere to universal accessibility standards, ensuring inclusivity. Additionally, a community garden will be established on the rooftop, and a bike path will connect the neighbourhood to the nearby metro station. Highlights 249 rental housing units Solar panels on all buildings Geothermal energy as the energy source for the entire site Energy performance for each building 50% higher than the standards required by the energy code Land allocation for the development of a multifunctional bike path along the railway and a public easement on the Dalia project site to connect the neighbourhood to the Du Collège metro station via Bourdon Street More than 45% of the area dedicated to green space Community gardens on the roof of the seven-story multifamily building Land allocation to the adjacent school to allow for the expansion of its playground, benefiting the well-being of children Development of an embankment and a sound barrier adjacent to the railway on the Dalia site and on half of the school's property Quotes "I want to emphasize the dedication and innovation demonstrated by my team, along with the invaluable collaboration and support from the Saint-Laurent borough and numerous local stakeholders, which have enabled this project to advance efficiently. This collective effort is essential, almost vital, when striving to realize affordable projects with multiple sustainable development components." - Maxime Laporte, Partner and Director of Development, Quorum. "I am very proud to be part of the launch of Dalia in our area. By aiming for LEED Gold and Silver certifications, this project sets a new standard for developing affordable and sustainable housing. Moreover, by transforming an industrial site into a green residential neighbourhood, this project will help reduce heat islands and enhance our resilience to climate change. Situated within a TOD area, it will promote active transportation, exemplified by its new multifunctional bike path accessible to the entire community. This will also help open up this sector and continue our tradition of welcoming new families, as well as our passion for innovation and architectural excellence." - Alan DeSousa, Mayor of Saint-Laurent. "The Dalia project perfectly represents the type of initiative our government aims to support—affordable, sustainable housing that is well integrated into our community. I am pleased to have collaborated with Groupe Quorum to support their request for $93 million in funding from the CMHC for the development of affordable housing in Saint-Laurent. It is crucial to build communities where people can thrive, while considering sustainable development and accessibility. I am proud that this innovative project is coming to life here, greatly benefiting families, seniors, and young people in our community." - Emmanuella Lambropoulos, Member of Parliament for Saint-Laurent. "I am thrilled about the construction of sustainable and affordable housing for families in Saint-Laurent. This new real estate project of 249 units will help alleviate the effects of the housing crisis within my riding. It will provide residents with pleasant spaces close to public transportation, while reducing their environmental footprint. I commend the teams that participated in the various stages, ensuring this new living environment comes to fruition." - Marwah Rizqy, Member of the National Assembly for Saint-Laurent. About Quorum Quorum, a family-owned real estate developer based in Montreal for over 40 years, holds the prestigious Diamond Palm Master Builder award from the APCHQ. As a pioneer in the design, construction, management, and promotion of affordable, high-quality residential projects, Quorum has successfully delivered over 6,000 housing units in Greater Montreal and beyond. The company is celebrated for its expertise, comprehensive service, and meticulous attention to detail, creating projects that offer substantial value to the communities it serves. With a strong commitment to social responsibility, Quorum actively supports programs and initiatives that focus on fostering entrepreneurial youth and promoting academic perseverance. SOURCE Quorum View original content to download multimedia:
