Tunnel Construction Projects in India by Shapoorji Pallonji Group

 

Improving connectivity across India

Connectivity is of key importance in urban and sub-urban cities that are particularly characterised by a fast-paced lifestyle. Maintaining the quality of life associated with these cities requires top-notch infrastructure that can support the needs of all the residents.

The Shapoorji Pallonji Group understands the needs of commuters who require connectivity and quality infrastructure for the smooth flow of operations. To provide quality tunnel construction in India, the Shapoorji Group has constructed 3 key tunnel projects.

Here are some of the key features of India’s best tunnels:

1. Atal Tunnel, Himachal Pradesh

Constructed in Himachal Pradesh in 2020, the Atal tunnel is the world’s longest highway tunnel located in Manali. Built 10,000 ft. above mean sea level, this tunnel was named after the late former Prime Minister of India, Shri Atal Bihari Vajpayee.

Nestled under the Rohtang Pass in the eastern Pir Panjal range of the Himalayas, the tunnel is 9.02 km in length and 10 m in width. Dignified with the glory of being the world’s longest motorable highway tunnel, it stands at an altitude of 3,071 meters

Read all about the project here: https://www.shapoorjipallonji.com/project/atal_tunnel

2. KRCL tunnel, Sangaldan (J&K)

In 2015, Afcons engineered the construction of 5 BG single-line railway tunnels for Konkan Railway Corporation Limited (KRCL). This tunnel is located on the Katra-Laole section of the Udhampur-Srinagar-Baramulla Rail Link (USBRL) in Jammu & Kashmir.

The total length of the tunnels, including cut and cover, was approximately 8,500 m. What sets it apart from the plethora of other tunnels in India is its use of state-of-the-art technology of the New Austrian Tunnelling method (NATM) along with the conventional method.

Read all about the project here:
https://www.shapoorjipallonji.com/project/KRCL-Tunnel

3. East-West Metro, West Bengal

The Shapoorji Pallonji Group has constructed India’s first underwater metro tunnel and deepest metro station in Kolkata, West Bengal.

An architectural marvel, the underwater metro, located on the Howrah Maidan-Esplanade section of the East-West corridor, was inaugurated on March 6, 2024. The underwater metro line services were opened to the public on March 15, 2024. Kolkata was the first city to get an underwater metro that passes below the Hooghly River.

Read all about the project here:

https://www.shapoorjipallonji.com/project/east_west_metro

Handled by the competent Infrastructure division, the Shapoorji Pallonji Group confidently spearheads the construction of tunnels in India to provide improved connectivity in the country.

Read all about our past and current infrastructural projects at https://www.shapoorjipallonji.com/business/Infrastructure

Originally published at - https://industryupdates.medium.com/tunnel-construction-projects-in-india-by-shapoorji-pallonji-group-8461a6a1a6ed

How are millennials changing the real estate market?

 

Millennials are changing the real estate landscape with their modern thinking, ideologies and forward processes. With a haven of information available at their fingertips and increasing accessibility to data, the millennials are capable of making their decisions, faster, smarter and with better clarity than ever before.

Millennials also move beyond thinking of homes as a traditional 4-wall set-up, but consider their homes as a reflection of their values.

Considering the dynamic environment in which the millennials are making their home purchase decisions, they have a more pragmatic approach to home buying and make financially sound decisions.

Here’s how the millennials are changing the real estate market one step at a time:

Home furnishing essentials:

Following 2023, home buyers have 2 key considerations in mind before buying a home: Flexible workspaces and sustainable features. With remote work becoming an integral part of our lives, there is an increased focus on having a home that offers a dedicated workspace for an uninterrupted and seamless working experience.

Millennials and consequently companies have also started placing increasing importance on having a sustainable home with technological advancements such as smart thermostats, solar panels for renewable energy, and water-saving technologies as an attempt to be more environmentally conscious.

Community and society:

Millennials consider their societal status of utmost importance and are therefore instrumental in changing the way they choose their home. Several societal and communal factors affect their decisions to choose their preferred home including the neighbourhood they live in, the communities they live with and the living arrangements offered in such spaces.

Ownership:

For the older generations, owning a house of their own was a strong indicator of their financial strength and wealth which made them choose home ownership over rental set-ups. However, the current scenario of increasing home ownership costs in urban areas has made them reconsider this notion.

Millennials therefore approach home buying with a more strategic outlook that involves evaluating their financial goals and investing their finances only if they are assured of any tangible benefits associated with home ownership,

With the entire real estate market is influenced by the evolving demands of millennial homeowners, the Shapoorji Pallonji Real Estate group constantly works towards providing homes that cater to their consumers’ demands.

See all the new projects by Shapoorji Pallonji Real Estate Group to know more: https://shapoorjirealestate.com/.

Originally published at - https://industryupdates.medium.com/how-are-millennials-changing-the-real-estate-market-fa5a1a3a1bca

Is 2024 a Good Time to Buy a Flat in Pune?

 

Image Source — Unsplash Pune, India

Real estate investment considerations for 2024

The real estate sector is witnessing the emergence of a new city hotspot in Maharashtra as the top choice amongst home buyers, and surprisingly the answer is not Mumbai. A city that celebrates the Marathi culture and ethos to the core, the city of Pune is gradually emerging as the preferred real estate opportunity for individuals.

Real estate consultants- Anarock’s year-end reports from 2023 showcased an increased preference towards homes in Pune, with approximately 86,680 homes sold in 2023. This positive trend is expected to continue in 2024 with the real estate segment offering a lucrative investment option for investors.

A key factor motivating people to invest in the region could be attributed to the comparative cost advantage one enjoys compared to purchasing a home in Mumbai.

Purchasing a home in Pune is relatively 75.21% cheaper compared to Mumbai making it an affordable investment avenue. Over time, the affordability factor offered by Pune has reduced, owing to increased demand, thereby making it more competitive to purchase a home.

However, people looking for real estate opportunities continue to flock to the Maratha City anticipating an appreciation in property rates in the near future. This appreciation could be linked to several factors such as:

• Quality of life: In comparison to the hectic and fast-paced life lived by Mumbaikars, Pune’s sedentary lifestyle allows individuals to experience a better quality of life owing to its superior spaces offered for families.
• Modern lifestyle: Gone are the days when Pune was considered old-fashioned. The trendy city has kept up with the times while retaining the essence of its Maratha culture. Improved healthcare, education and entertainment facilities coupled with the rapid development and emergence of commercial centres, IT parks and service-focused industries have made it a desirable location to establish a home.
• Connectivity: The city of Pune offers a well-connected network of roads and highways making commuting an enjoyable rather than tedious process. The Mumbai-Pune Expressway, highways and major arterials offer smooth connectivity and accessibility to Pune from other cities.

For those looking for a sedentary lifestyle away from the hustle and bustle of major metropolitan cities, while being equipped with state-of-the-art amenities, Pune offers the right blend of convenience and sophisticated living.

With people placing increased importance on achieving the ideal balance between urban life and nature, Shapoorji Pallonji Real Estate beautifully captures this feeling to provide comfort and convenience at Golfland at Vanaha, situated in Bavdhan, Pune.

Meanwhile, for those searching for the un-city life within the city, SP Kingstown brings an unmatched quality of life like no other just for you.

Experience an elite lifestyle like never before with Shapoorji Pallonji. Visit https://shapoorjirealestate.com/ to know all about our latest projects.

Originally Published at - https://industryupdates.medium.com/is-2024-a-good-time-to-buy-a-flat-in-pune-97f1911af20d

Benefits Of Buying A Property In The Launching Phase

 

Photo by Jason Dent on Unsplash

Target the right stage for your next real estate purchase

In today’s time, purchasing property involves careful consideration and strategic planning to secure a property that suits one’s criteria.

One of the key considerations factored in by potential buyers is the project’s construction stage.

Each real estate project starts with a pre-launch phase marked by the project proposal’s announcement. During this phase, builders offer attractive price discounts on their projects to attract homebuyers and investors.

The key factor that motivates real estate buyers to opt for pre-launched homes is the affordability and consequent high return on investment offered for pre-launched projects.

Let’s explore some of the key benefits of purchasing properties in the pre-launch phase:

1. Availing early bird pricing: Choosing a property in the pre-launch stage enables one to get a first-mover advantage. Developers offer attractive early bird prices for buyers motivating them to invest in new projects.
2. Staying ahead of the demand curve: Once a project has been launched, its demand in the market starts increasing with potential buyers expressing interest in owning a stake in such projects. Here, making the right strategic investment during a pre-launch phase helps avoid rising project costs later on.
3. Flexibility to choose prime units: While purchasing a home, the choice of preferred unit becomes a crucial factor for buyers and sellers. Buyers prefer closing in on the best units that offer amenities like the best view, floor plan or flat location within the project before closing in on a deal. Similarly, sellers are looking to negotiate the best price with the buyers based on the amenities being offered for the property of their choice. Being an early buyer offers you the flexibility to choose the unit that aligns with your requirements.
4. Potential for high return on investment (ROI): In real estate, the value of a project increases as the construction of the property advances. A property’s rate could increase anywhere between 10% — 40% as the construction finishes. As the area surrounding the property also develops, its value appreciates due to the development changes that attract investors and residents looking for a premium property. Properties developing in highly coveted areas are sought after even as an investment opportunity by buyers looking to rent out the space in the future.
5. Flexibility and adaptability: Purchasing a property in its pre-launch phase offers immense flexibility in terms of payment methods like EMI, and modifications such as additions in design, interiors and furnishings.

A strategic planning process can help you make the right purchase decision based on the stage of project development that you are looking to target.

Joyville Homes under Shapoorji Pallonji Real Estate has 2 new real estate projects: Joyville Celestia and Joyville Sky-Luxe Edition which offer world-class facilities and amenities ₹71.90 lakh and ₹1.5 crore respectively.

Visit https://www.joyvillehomes.com/ for more information.

Originally Published at - https://industryupdates.medium.com/benefits-of-buying-a-property-in-the-launching-phase-967f14bb0372

What is the NEOM project?

 

NEOM Water Reservoir Project KSA (Saudi Arabia), Ongoing

NEOM: Designing a smart city for Saudi Arabia

Bringing about a revolution in civilisation — that is what encapsulates the vision of NEOM, Saudi Arabia’s modern and futuristic smart city project.

The term ‘NEOM’ has been derived from the Greek word, Neo, meaning ‘new’ and M, denoting Mustaqbal, in Arabic, translating to future. Thereby, the project conveys the vision of a new future by Saudi Arabian crown prince, Mohammed bin Salman, the country’s de facto ruler.

With a total planned area of 26,500 km2, this new urban area is located north of the Red Sea, east of Egypt across the Gulf of Aqaba and south of Jordan.
The program aims to modernise the country and find a more sustainable economic model in anticipation of the end of the oil industry rent.

NEOM is designed to provide a healthier, more sustainable quality of life capable of being home to 9 million residents, spread over a 34 km2 footprint. The entire project is designed in a multi-dimensional format providing residents access to all requirements in a 5-minute radius.

If you want to imagine how accessible NEOM would be, you can travel end to end on foot in simply 20 minutes! This drastically reduces the overall carbon footprint in this project with 0 carbon emissions.

As a whole, the NEOM project comprises 5 regions as follows:

• The Line: A linear city spanning 170 km in length and 200 m in width, this city will provide a hospitable community to 9 million residents. Its multi-dimensional format shall house multiple buildings in one continuous structure with an entirely glass mirror exterior.
• Oxagon: An octagon-shaped floating industrial complex, it is designed to focus on manufacturing, industrial research and development that incorporates the former Duba port.
• Trojena: A novel project, Trojena shall offer a first major outdoor skiing destination in the Arabian Peninsula in the form of a ski village while hosting a variety of restaurants and retail stores making it a recreational hub.
• Sindalah: A recreational hotspot, Sindalah offers a luxury resort with 3 luxury hotels for visitors.
• Gulf of Aqaba: Set on a stunning coastline, this hotspot shall host breathtaking destinations, comprising exclusive communities with bespoke hotels and residences.

What makes NEOM a truly futuristic project is its ability to run on 100% renewable energy and water supplies. By choosing 100% clean energy sources, NEOM capitalises on solar and wind resources while aiming to incubate and accelerate renewable solutions.

Shapoorji Pallonji’s International Arm — SP International plays a key part in the ongoing project with NEOM Water Reservoir Project in Saudi Arabia.

Know all about their association: https://www.shapoorjipallonji.com/project/neom_water_reservoir_project

Originally Published at - https://industryupdates.medium.com/what-is-the-neom-project-006292b399dd

What is a Jetty?

 

Bulk Jetty Port of Sohar, 2011

A jetty is an artificial structure made of wood or stone that extends into the sea to protect a coastline from the influence of a current or tides.

Jetties are constructed in order to prevent natural coastlines from getting eroded, as currents and tides can gradually wash away a beach or other coastal features.

Jetties can be made from a variety of materials — including rock, concrete, steel or even a combination of materials. They are also commonly constructed to connect land with a deep area which is further away from the shore, to serve the purpose of docking ships and unloading cargo.

The key steps involved in a project involving the construction of a jetty include:

1. Site selection and survey: The starting point for a jetty construction project involves choosing the right location after conducting a survey.
2. Design: Basis the site selected, the engineers and architects design the jetty keeping in mind the intended use.
3. Permissions: All the necessary permissions required for the construction of the jetty are taken.
4. Excavation and dredging: The sea floor is then excavated and dredged to provide a sturdy foundation.
5. Piling: Piles are driven into the sea floor to create a strong foundation.
6. Deck construction: The deck of the jetty is constructed next along with any additional structures like ramps or walkaways.

Common materials used in jetty construction include rocks, concrete, steel, and timber. The selection of material depends on various factors like the site conditions, the expected load, and the local environment.

How these materials affect the construction of a jetty can be understood below:

• Rocks: Rocks occur naturally and provide a durable and long-lasting option for constructing a jetty. Rocks such as granite or limestone are suitable for larger jetty projects.
• Steel: Steel serves as a durable choice that responds well even in corrosive environments.
• Concrete: Concrete provides a suitable manmade alternative for smaller projects, as well as maintenance and repair work of existing projects
• Timber: Timber serves as an inexpensive alternative that is easy to work with except for areas that experience strong waves and corrosive environments
• Recycled materials: Certain jetties are also constructed using recycled materials such as tires, plastic bottles and debris

Hence, the choice of materials used in the construction of a jetty significantly impacts the overall quality of the jetty.

Shapoorji Pallonji Real Estate played a key role in the construction of 3 jetties namely:

Oil jetty in Mauritius, refinery jetty in Jamnagar and LNG jetty — marine facility in Kochi.

To know more about our projects visit — https://www.shapoorjipallonji.com/company/AfconsInfrastructure.

Originally Published at - https://industryupdates.medium.com/what-is-a-jetty-005691c040dc

What is a Down Payment in Real Estate?

 

Picture this: You have found your ideal flat in a prime location that offers you all the amenities you sought. You are set to seal the deal with your broker and are asked to make a down payment.

Embarking on your journey to owning your own property need not be complicated with jargon related to real estate.

Let us simplify down payments for you.

What is a down payment?

A down payment refers to the initial sum of the amount paid in order to purchase a high-value asset such as property. This amount represents a part of the total purchase price of the property, while the balance amount can be financed via banks, NFBCs (non-banking finance company) or a private lender.

How does the down payment amount affect your loan?

1. Higher down payment = Lower EMIs
   Making a larger down payment upfront reduces your overall loan amount. This reduces the monthly EMIs you are required to pay offering you greater flexibility with your finances in the future.
2. Lower interest rate
   When you put down a larger down payment, the lender is assured of recovering his loan amount from you in case of defaults in EMIs. This helps build credibility and improves your chances at getting a lower interest rate.
3. Reduces lender risk
   Any lender would be more assured of his chances of recovery of funds from a borrower that makes a large down payment upfront. Hence a higher down payment reduces a lender’s risk while loaning you money.
4. Improved chances of loan approval
   Making a larger down payment showcases your ability and willingness to repay the loan amount. This improves your chances of getting a loan approved from your bank.

How is the down payment amount calculated?

The amount of the down payment depends on the lender and the creditworthiness of the borrower.

This amount typically lies around 10% — 20% of the total loan amount and is determined by the lender.

Conclusion:
Down payments are an effective way to reduce your total loan corpus while facilitating your journey to owning your dream home. Embark on your journey to owning your dream home in the city of your choice with Shapoorji Pallonji, one of the leading players in the Indian real estate market. To know more, visit https://www.joyvillehomes.com/ today.

Originally Published at - https://industryupdates.medium.com/what-is-a-down-payment-in-real-estate-d2e7c626163a