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Tag: Omaxe Group

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Omaxe Group Announces Launch of The Omaxe State with INR 2500 Crore Investment

Sep 3, 2024 by Sujata 0 Comments #New Delhi, #Omaxe Group, #Queen Elizabeth Olympic Park in London

New Delhi, September 3, 2024: Omaxe Group, one of India’s leading real estate developers, has announced the launch of their project, ‘The Omaxe State,’ which will be India’s first integrated 5-in-1 destination for sports, retail, hospitality, food, and culture. Spanning over 50.4 acres in Dwarka Sector 19-B, New Delhi, the project is being developed in partnership with the Delhi Development Authority (DDA) under a public-private partnership (PPP) model, with an investment over Rs 2500 crore.

Aerial View

Delhi, the capital of India with a population of more than 3.3 crore, has long awaited a World-Class Cricket Stadium. The 2nd most populated city of the world, Delhi has missed hosting major World Cup and IPL matches since India vs. England World Cup semi-final played in 1987. The Omaxe State will feature a World-Class, Modern ICC and FIFA-standard International Cricket-cum-Football Stadium with a seating capacity of over 30000, as well as an International Multi-Sports Indoor Stadium that can accommodate 2000 spectators.

The project follows in the footsteps of iconic landmarks such as Queen Elizabeth Olympic Park in London, Accor Arena in Paris, Singapore Sports Hub, and Melbourne Olympic Park to revolutionize India’s sporting and leisure landscape. This groundbreaking project will fill the void and aims to bring world-class sporting events back to Delhi, offering an unparalleled experience and giving Delhiites an opportunity to play, shop, eat and entertain the way world does. The above-mentioned integrated projects are among the most successful projects in their respective countries or cities and contributed to their growth. These are preferred destinations for locals and tourists for shopping, dining, sports, and entertainment needs.

Taking India to the global map, a new state is being developed: The Omaxe State, featuring 5 districts – The Sports District, The Shopping District, The Hospitality District, The Food District, and The Social District. The Omaxe State aims to blend commercial, sports, hospitality, social, and dining facilities into a unique experience in the heart of India.

A highlight of this development is the Food District, inspired by London’s Covent Garden and Carnaby Street. It will be India’s largest F&B space, spanning over 5 lakh square feet, featuring more than 40 fine dining restaurants, night and day clubs, sports bars, three drive-throughs, a large food court, rooftop restaurants, food kiosks, food trucks and banquet facilities.

Adding to the allure, the project features India’s first Air-Conditioned High-Street retail area, with shop fronts extending over 4.2 km, making it the largest private commercial development in Delhi. With 75% of the retail space located on the ground floor, it leverages the superior performance of ground-floor retail. The first floor offers additional retail spaces, a food court, and a five-screen multiplex, all designed with shop heights of 18 and 36 feet to provide a grandeur luxury shopping experience.

Beyond retail, The Omaxe State includes Delhi’s most exclusive invite-only sports and leisure club, a 75,000 sq. ft. E-Sports arena, and a hotel with 148 keys. The complex also features a large banquet space with multi-level parking, an event arena for social and cultural events, an Olympic-sized swimming pool and top-tier facilities for tennis, badminton, squash, basketball, and football.

“Omaxe is humbled by the opportunity to partner with DDA on this transformative project,” said Mohit Goel, Managing Director of Omaxe Group. “With ‘The Omaxe State,’ we aim to provide Delhiites with an international-level experience right here in their own city. This development will bridge a significant gap in Delhi’s infrastructure by offering a world-class venue for sports, shopping, and entertainment. We are thrilled to contribute to the city’s growth and elevate its profile with this unique 5-in-1 destination.”

The project will feature modern, technologically advanced amenities, including 11 entrances, car drop-offs, over 2,200 ECS, and additional surface parking with provisions for future expansion. Strategically located in Sector 19B of Dwarka, Delhi, and developed in collaboration with 24 world-renowned consultants, this project aims to set new standards in urban development. Positioned close to major attractions such as Yashobhoomi (Asia’s largest convention center), IGI Airport (ranked among the world’s top 10 airports), Bharat Vandana Park (spanning 200 acres and one of Delhi’s largest parks, akin to Hyde Park and Central Park), and the upcoming diplomatic enclave with 39 embassies, the project is set to capture significant visitor traffic. The nearby Metrolite light rail system will further enhance accessibility. The project is expected to be completed by 2027 and to generate over Rs 4,200 crore in revenue during its lifecycle.

Omaxe Group’s vision is to provide Delhi with a state-of-the-art commercial, sports, and entertainment hub that not only meets international standards but also becomes a prime landmark in the city.

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Unlocking Opportunities: The Rise of Real Estate in Tier 2 and Tier 3 Cities

May 20, 2024 by Gayathri Pariti 0 Comments #Collaborations between public and private stakeholders, #India's real estate sector, #Migsun Group, #Mohit Goel, #Ms. Radheecka Rakesh Garg, #Omaxe Group, #Real estate development, #The Rise of Real Estate in Tier 2 and Tier 3 Cities, #Yash Miglani

India’s real estate sector is experiencing a paradigm shift and transforming the landscape in tier 2 and tier 3 cities. The picture recent projections present of real estate prospects in these emerging markets is highly promising. With a staggering housing demand of 93 million units forecasted by 2036, developers are increasingly turning their attention to tier 2 and tier 3 cities. Notable regions such as Chandigarh Tricity, Agra, Lucknow, Ujjain, Vrindavan and Hapur, among others, have emerged as focal points. Almost 91.6 per cent of the acquired land is earmarked for low-rise and plotted formats, reflecting the huge unmet demand for affordable housing.

“Collaborations between public and private stakeholders will play a pivotal role in driving infrastructural enhancements and fostering an environment conducive to economic prosperity. Increasing realty prices in metro cities have led developers to explore tier 2 and tier 3 cities, recognizing them as untapped reservoirs of opportunity,” says Mohit Goel, MD, Omaxe Group.

“Several catalysts underpin the promising prospects of tier 2 and tier 3 cities. Enhanced connectivity, the popularity of start-up ecosystems, and the expanding retail sector are driving demand across residential and commercial segments. Infrastructure upgrades, including expanded road networks and efficient transport systems, have further bolstered the appeal of these cities for businesses and residents alike,” says Ms. Radheecka Rakesh Garg, Director, Rajdarbar Realty.

“As India gears up for accelerated urbanization, tier 2 cities are assuming newfound significance in the real estate landscape. With urbanization rates projected to reach 36 percent this year and a staggering 50 percent by 2050, these cities are evolving into vibrant hubs of growth and innovation which are immensely increasing their realty prospects,” says Yash Miglani, MD, Migsun Group.

“Simultaneously, the commercial real estate sector is witnessing a renaissance in tier 2 cities, fueled by infrastructure enhancements and evolving consumption patterns. The Tricity region, encompassing Chandigarh, Mohali, and Panchkula, exemplifies this trend, propelled by strategic investments and collaborations. Proactive developers are pioneering transformative projects, catering to the diverse needs of businesses and consumers alike,” says Piyush Kansal, Executive Director, Royale Estate Group.

“The future of real estate in tier 2 and tier 3 cities is paved with unprecedented opportunities for developers and investors. With the right focus and investments, these cities are poised to emerge as epicenters of inclusive and sustainable urban growth. For developers and investors, tier 2 and tier 3 cities represent fertile ground for growth and expansion. By capitalizing on the unique attributes of these cities and aligning with evolving consumer preferences, stakeholders can unlock untapped value and drive sustainable returns on investment,” says Pawan Sharma, MD, Trisol RED.

As the narrative of India’s real estate story continues to unfold, tier 2 and tier 3 cities stand at the vanguard of this transformative journey, unlocking new frontiers of prosperity and progress. Backed by advancing infrastructure, evolving corporate ecosystems, and government initiatives residential real estate in tier 2 and 3 cities stands at the forefront of this transformation. Embracing a holistic approach to real estate development, encompassing residential, commercial, and civic amenities, will be essential in creating vibrant and resilient urban ecosystems.

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Omaxe Hosts Spectacular “Omaxe Property League” Event at World Street

Apr 23, 2024 by Sujata 0 Comments #Mohit Goel, #Omaxe Group, #Omaxe Property League

Omaxe Group, a leading name in the real estate industry, recently showcased its commitment to innovation and community engagement by hosting the much-anticipated “Omaxe Property League” event at the vibrant World Street Faridabad on April 20th, 2024. The event witnessed the engagement of over 4000 customers, engaging them in a multitude of activities that enthralled attendees of all ages.

From the captivating performances of Kathakali and Genie to the awe-inspiring displays of bicycle levitation and airchair stunts, the event offered a delightful blend of entertainment and excitement. Attendees were treated to mesmerizing spectacles, including man levitation, jugglers, Choti Police, Chana Jor Garam, Panda, Katty, and Mikki, creating an atmosphere filled with laughter and wonder.

omaxe

Omaxe World Street has been a successful venture in Faridabad, offering buyers lucrative investment opportunities. The “Omaxe Property League” event exemplifies Omaxe’s unwavering determination to offer buyers another chance to invest in World Street and foster meaningful connections among residents and stakeholders. By organizing such engaging events, the brand continues to redefine the standards of excellence in the real estate industry, setting itself apart as a pioneer in community-driven development.

The property league aims to attract foot traffic which can benefit retailers located nearby by increasing visibility and exposure.

Commenting on the event, Mohit Goel Managing Director of Omaxe Group said, “It was thrilling to witness the massive response from our attendees. Through our Omaxe Property League event we priortize to create memorable experiences for our customers, retailers, and communities and aim to go beyond traditional boundaries. This event is a testament to our commitment to innovation and excellence as we strive to enhance the quality of life in every project we undertake. We look forward to bring more such opportunities that caters to the diverse needs and aspirations of all. “

The success of the “Omaxe Property League” event further underscores Omaxe’s position as a renowned developer in the market. It is known for its forward-thinking approach and unparalleled dedication to customer satisfaction. With a track record of delivering exceptional projects and enriching experiences, Omaxe continues to lead the way in shaping the future of real estate.