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Ashwani Prakash, Executive Director, Paramount Group of Companies

Ashwani Prakash, Executive Director, Paramount Group of Companies speaks to Construction Week Online about the Real Estate market in NCR.

What are the major projects that you are implementing in the region?

In the residential segment, we currently have Paramount Floraville at Sector 137, Noida and Paramount Symphony at Crossings Republik, Ghaziabad; in the commercial, we are coming up with a mall, known as Orbit Plaza at Crossings Republik, Ghaziabad. We have recently ventured in to the hospitality sector in collaboration with the Clarks Group of Hotels to build a 4-star hotel at the Croosings Republik.

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The potential growth areas which are been developed by the builders in NCR region are Noida, Greater Noida and Noida Extention. Gurgaon and Faridabad can also be added where fairly good construction activities can presently be observed. The future of these areas seems to be good because of its connectivity with Delhi.

What is the current scenario in NCR-region in regards to construction activities and project developments?

The construction in the areas as mentioned above is in full swing and the projects are in affordable range, mid budget and luxury range including the villas is also readily available.

Lots of projects have been announced to cash in on the Commonwealth Games. Do you think those projects (especially hotels) would remain viable even after the event got over?

The Commonwealth Games is one which is been kept in mind while developing the infrastructure in and around Delhi particularly the hotels and at the same time the interest has been shown by tourist from over the world regarding tourism in India. The hotels would be viable even after the games as the properties which are coming are at par with international standards and shall be added in the gap which exists in the hospitality industry.

What are the other major infra projects under implementation or going to implemented by govt or private players in the region in coming 2-3 years which will have positive impact on the region?

The major projects which are being implemented or planned for future is mainly aimed to increase the connectivity of Delhi with surrounding areas and to make the travel convenient and hassle free. Once the connectivity to the Capital improves it shall definitely have the positive impact on the growth and over all development of the area.