zameensantosh

If you are planning to buy a house this year, take all the time you need.

A Crisil research report on residential property prices of India's 10 biggest cities says prices will remain more or less stable with a moderate dip in prices in Mumbai and a marginal (2 per cent) rise in the National Capital Region (NCR) in 2010.

According to the report, the average capital appreciation in the 10 cities is expected to be 2-3 per cent. Bangalore and Chennai are expected to see the highest rises of 7.3 per cent and 5 per cent respectively. On the other hand, Ahmadabad and Mumbai will see a correction in prices by 1.8 per cent and 0.4 per cent respectively.

Interestingly, Mumbai witnessed the maximum rise in prices by 11 per cent between March and November last year, the report said. While Central Mumbai witnessed a price rise of 21 per cent, the central suburb saw 15 per cent hike.

“Mumbai has already witnessed a steep recovery in prices after the correction in 2008 and the demand has slowed down since December 2009,“ said Sudhir Nair, head, Crisil Research.

Developers, however, disagree. “We have not seen any drop in demand and I believe demand for residential real estate will go up by 30 per cent this year,“ Niranjan Hiranandani, vice chairman & MD, Hiranandani Construction said.

“Mumbai is so starved of volume that unless land supply increases, prices cannot drop,“ Dharmesh Jain, CMD, Nirmal Lifestyle, said. “Considering the rate of inflation, we expect that prices in Mumbai to go up by 5-12 per cent in 2010, depend- ing on the location and quality of constriction of building.“

The expected price rise in Bangalore and Chennai is on account of recovery of the IT sector. “The confidence is back now in the (IT) sector leading to a demand in those areas,“ said Nair.

Courtesy: - HT DT: - 09-April-2010

For more information about real estate, real estate India, Indian real estate, property, property in India, Indian property, property for rent, rented property, apartment for rent, rented apartment, flats for rent, rented flats in Delhi, property for sale in Delhi, apartments for sale in Delhi, flats for sale in Delhi homes for sale in Noida, flats for sale in Noida, real estate in Noida, investment option in Noida, real estate consultant in Noida, realty firm houses in Noida, residence in Noida, residence in Delhi, residence in Gurgaon, flats for rent in Gurgaon Log in to http://www.zameen-zaidad.com/

GEARING UP FOR THE GAMES - Commonwealth village apartments ready, developer starts handing them to DDA

Tags: real estate property india buy rent sell residential commercial apartments agen

April 9, 2010 Add comment

0 comments Commercia Space in Delhi

The Commonwealth Games Village luxury apartments are ready and Emaar MGF, the developer, has begun handing them over to DDA.

The residential project on the banks of river Yamuna will house athletes and officials for the Games that will be held from October 3 to 14, 2010.

“We have begun the process of handing over the apartments to DDA,“ said Shravan Gupta, executive vice-chairman and managing director Emaar MGF.

The project, with 1,168 apart- ments, was to be built on a pub- lic-private-partnership model between DDA and Emaar MGF which won the right to develop the 118-acre residential project in competitive bidding from DDA at Rs 321 crore against a reserve price of Rs 300 crore.

As per the arrangement, DDA got ownership over onethird of the apartments over and above the Rs 321 crore from the developer. Emaar MGF was to retain ownership of the rem- aining 790 apartments which it expected to sell in the open mar- ket and raise money.

However, last year's financial crisis and realty slump meant the company couldn't find buy- ers and raise money. It asked DDA for a bail out which it got--DDA purchased another 333 apartments for Rs 770 crore.

“Market conditions are improving. There has been a robust demand for quality res- idential projects,“ said Gupta.
He claimed the company has managed to sell a major portion of these apartments.

After the games are over the developer would refurbish the apartments and physically hand over the apartments to end- users by early next year.

Courtesy:- HT dt:- 09-April-2010

Tags: real estate property india buy rent sell residential commercial apartments agen

Flair in your foyer

April 3, 2010 Add comment

0 comments Real Estate

The foyer can be styled to make a stunning first impression on anyone who enters your house, says Deepti Ganapathy

    The foyer serves as the gateway to your home. So the decor from floor to ceiling must be in perfect harmony with your interior decor. Since it is a small area that it often a window to your creativity and design sense, express your personality with flourish through foyer decor.
Color schemes
    The color and texture on the walls of the foyer should ideally compliment the color scheme of your home. A light colored palette would make the space look spacious and breezier. Another option is to create an 'accent wall', which is a strategically located wall with a bold color. If you have a recessed nook or alcove in this space, then add some dramatic and bold colors. Place a beautiful entry table or console inside the alcove, hang your art and light up the area with wall sconces or lamps.
Lighting
    A properly and stylishlylit foyer makes a significant difference, since it's situated at the entrance to the living room.
    If you have the space in your medium size foyer for a chandelier or other large, ornate light, you should use it. Chandeliers add a burst of light and come in many styles. Invest in a wrought iron chandelier for rustic charm, or go for classic crystal or bohemian acrylic painted. If you have more space, you can hang multiple chandeliers of different designs and sizes. The foyer chandelier must be large enough to provide foyer light as well as a lovely view from outside the home.
    Scones and track lighting are ideal for this high traffic area. Whatever lights you choose, make sure they provide plenty of light and place your foyer lights so that areas or objects of interest are highlighted. These may include paintings, photographs or other pictures, as well as accent walls. Use small lights and fixtures in several parts of the foyer to spotlight different elements. For example, two wall sconces flanking the entryway add a formal tone to the room. A side table along a wall is the perfect support for a table lamp that illuminates enough of the floor to help guide people through the foyer.
    Pendant lights that you suspend from the ceiling or walls will add a bright spot of color. Eye-catching light fixtures can be the focal point of a foyer. An etched-glass pendant light adds ambient light as well as a sculptural aesthetic. Set a long wall shelf aglow with small lights in the shapes of candles or use actual tea lights.
Visual interest
    The floor and ceiling are the two areas that you can experiment with in this space. Medallions are a great way to dress up a foyer ceiling. These work well especially in rounded spaces when they are designed in the centre in the room.
    The design of the medallion relates to the style of cornice in the room. While it is common to use a medallion around a light fixture, they can also be used alone. Most medallions are either round or oval, but square panels are also used and also in star shapes. When you are selecting wall color for your foyer, don't forget the ceiling. Well-chosen trims can have an incredible effect on the look and character of your home.
    They can brilliantly define the character of any room and enhance the overall beauty of the home.
    Even low ceilings can be treated with molding or lattice strips and contrasting paint to provide interest and visually increase the ceiling height. For exceptionally high ceilings add crown molding where the wall meets the ceiling and then, approximately one foot below add a small decorative trim.
    Then, paint a strong color between the two for a dramatic effect.
    Wood beams are another fantastic way to add visual interest to your foyer. They can be installed in a grid pattern for a square or rectangular room and they look great in a round foyer as well.
    For the floor, you could create an interesting mosaic with handcrafted tiles and centre it so that the lights from the chandelier can highlight its artistic appeal.

Courtesy: - Times Property DT: - 03-April-2010

Choose tenure based on age, income and loan amount

Tags: real estate india indian commercial complex compl

April 3, 2010 Add comment

0 comments Real Estate in India

Kavita Sriram has some tips to help you arrive at the tenure best-suited to you

    Tenure is the period or duration for which a loan amount is sanctioned. Borrowers might feel like taking the shortest possible loan tenure ideally. However, do not rush for the shortest loan tenure. It may appear enticing to pay off your home loan debt in the shortest possible time span. However, a short tenure loan translates into very high EMI dues month after month. The borrower must remember that he has other financial commitments - usual monthly expenses - and must not stop saving during the repayment period.
So, what is the ideal loan tenure?
Consider different EMI outflows for various loan tenures. Will you be comfortable paying the EMI, yet have enough to meet all other financial commitments and emergencies? Freeze on the tenure for which you can pay the EMIs without a major financial stress.
Consider these parameters before deciding on the loan tenure:
Is the amount high?
If the homeowner has borrowed a huge sum of money, the EMI outflow would be high. Hence, to make EMI repayment comfortable, the borrower may have to go for longer loan tenure. Longer the loan tenure, lesser is the EMI outflow.
Consider a loan of Rs 50 lakhs borrowed at 12 percent interest. If the tenure is 15 years, the EMI outflow would come to around Rs 60,000. If the loan amount was lesser, say Rs 25 lakhs at 12 percent interest, the EMI outflow for tenure of 15 years would be around Rs 30,000. If the borrower can afford to take a shorter tenure loan, of say 10 years, his EMI outflow would be around Rs. 36,000.
Purpose of buying property
If the borrower has purchased the property solely as an investment, he would like to sell it off when he gets a good deal. In such cases, most buyers prefer to keep the loan tenure as short as possible. This way they need not pay any penalties towards prepayment or exiting the loan before end of tenure.
    Those who have purchased the property only to live in it may prefer longer loan tenures. They may not be very keen on very short loan tenure. Further, they benefit from tax deductions on their home loans. However, borrowers must keep in mind that longer the loan tenure, greater is the associated cost of borrowing.
Age of borrower
    A person close to his retirement years will not be eligible for a long tenure loan. A middle aged person who is making good money may prefer repaying the loan before he retires. A young borrower who has recently started working may not bring home a huge income. His income level may go up as the years pass by. He should opt for longer loan tenure as he has many years ahead to work and clear his debt.
Income
    A person with greater disposable income can pay off his debt faster than a person who earns lesser. If the borrower has higher income, he can pay higher EMIs and clear his debts faster.
    A person having greater financial commitments, other debts or a lower income may find repaying his debt a big challenge.
    A borrower's current income level and expected increase in income are factors that can influence the loan tenure. Interest rate fluctuations are difficult to predict.
    The impact of increase in interest rates could be hard if the borrowed amount is high. Whenever you have excess funds, partially prepay the loan. This way, a borrower can clear his debt faster.

Courtesy: - Times Property DT: - 03-April-2010

Tags: real estate property india buy rent sell residential commercial apartments agen

SOUTH DELHI

March 30, 2010 Add comment

0 comments Real Estate

And http://www.propertycafeteria.com/Ask_flat_Rent.aspx

South Delhi epitomizes class and traditional chaos in equal measure

It has some of the Ultimate Addresses to vie for in India as well as historic monuments and urban villages. Razia Sultan led her kingdom from ruled her kingdom from Mehrauli in the 13th century. Today, many a high and mighty rules the roost here.

South Delhi epitomizes class and traditional chaos in equal measure. If you are looking for a place to rent someplace here, there are many enviable options to pick from. Not only are many preferable neighborhoods relatively close to Delhi's central business district -Connaught Place and the international airport, they are also connected to industrial suburbs such as Noida and Gurgaon. What might excite some is the Delhi Metro that will soon dash through localities like Jor Bagh, INA, Green Park, Hauz Khas, Malviya Nagar, Saket, Qutab Minar and Chhattarpur before leaping into Haryana (for which the trial run was conducted last month).

The supply

According to market insiders, there are residential options in localities like Defence Colony, Vasant Vihar, New Friends Colony, and Greater Kailash I and II.

Real estate dealers say, among category a neighborhoods, you can also find rental accommodation in Shanti Niketan and West end. Abhishek Raj Mudgal, proprietor, Shree Jee Associates, Safdarjung Enclave, says there is supply (for rented housing) across the area, including colonies such as Safdarjung Enclave, Green Park, Golf Links, Malcha Marg, Sunder Nagar and Safdarjung Development Area (SDA). A three-bedroom apartment can be rented for Rs 35,000 a month in SDA or Green Park, says Mudgil.

"If you have budget constraints, you may check out Anand Niketan," says Sanjay Sharma, proprietor, SM Realtors, Defense Colony. Another upscale option is Defense Colony, specifically A and D blocks, says Sharma. "It is very central and one can, from here, get very quickly to Connaught Place, Supreme Court, High Court, railway station and to the airport."

Those interested in having this premium zone as their address can rent a brand new, three-bedroom apartment for Rs 1.75 lakh to Rs 2 lakh a month while an old one goes for Rs 75,000 to Rs 90,000 a month, says Sharma. In Defense Colony's A block, the rent for a new 1400-sq ft apartment is Rs 90,000 a month and Rs 55,000 to Rs 60,000 a month for an old construction.

Where Panchsheel Park and Anand Lok are concerned, rental values of independent houses (three-five bedrooms) are for about Rs 2.35 lakh to Rs 2.5 lakh. Apartments of about 2300 sq ft to 3000 sq ft go for about 1.75 lakh to Rs 2.25 lakh.

The attractions

So, what makes south Delhi click? It has a whole host of eateries, cine plexus and shopping centers... You can chill out at places such as Ansal Plaza, Select City Walk, MGF Metropolitan Mall, DLF Emporio, to name a few. In addition, major markets include South Extension, INA market, Greater Kailash I, and Sarojini Nagar. Then there is that slice of India, the greatest of crowd pullers, Dilli Haat, near INA. The trendy Khan Market and Sunder Nagar market are not too far either.

When it comes to medical facilities, the area is serviced by some of the country's best super-specialty hospitals. South Delhiites have access to healthcare centres such as the private Max hospitals (multiple locations), Escorts Heart Institute and Research Centre (Okhla Road), Rockland (Qutab Institutional Area), Indraprastha Apollo (Sarita Vihar), Batra (Tughlakabad Institutional Area), GM Modi (Saket), Sitaram Bhartia Institute of Science and Research (Qutab Institutional Area) and the well-known, government-run All India Institute of Medical Sciences.

The competition

However, posh south Delhi has serious competition from Trans-Yamuna, which has a slew of property options, expanding infrastructure and facilities, as well as the satellite town of Noida, now linked to the heart of the capital through the Metro.

Courtesy: HT Estates 20th Feb 2010

PLAN EMIS, MANAGE FINANCES

March 30, 2010 Add comment

0 comments Commercial Space

And http://www.propertycafeteria.com/Ask_flat_Rent.aspx

Homebuyers need to plan their finances before they go in for a housing loan,

Buying a housing property is a very big financial commitment on the personal front. Attractive and aggressive home loan schemes coupled with tax incentives has made it easier for younger people to invest in housing properties. Buying a housing property and financing it through home loan has many benefits; however it requires a certain amount of financial planning on the individual's part in order to make the process easier throughout the loan tenure.

Cyclic trends in interest rates

The interest rate cycles have shrunk over the past couple of decades. We are seeing a lot of volatility and cyclic trends in the interest rates. Real estate, especially the home property market has seen a major shift in the last few years. There has been an increase in the aggressiveness of real estate developers, home buyers and housing finance companies. Also, the globalization has brought in many factors that influence the macro economic conditions in general which impacts the interest rates. Since home loan is a long term commitment, it is important to mentally prepare for cyclic trends in the lending rates and do financial planning to be able to pay higher interest rate during certain period of entire loan tenure based on market conditions.

Planning for other financial commitments

A home loan is a long term financial commitment with the payment tenure being more than 10 years in most cases. Therefore, it is important to think about various personal milestones and financial commitments and chalk out a strategy to manage personal finances accordingly. People should also be careful while signing for attractive looking teaser home loan schemes which promise a lower interest rate during initial few years and higher floating rates after a couple of years. These are some of the important aspects that borrowers should keep in mind while planning their financial aspects for purchasing a housing property:

Although, people resort to stretching of their finances while buying a housing property, they should be careful in stretching beyond their means as there is another added variable of interest rate fluctuation, spells of bad economic/market conditions etc which should be carefully factored into the financial planning.

It is important to create a financial cushion which can be utilized to fund any extra financial burden during certain periods. People can invest in equity or debt based investment instruments based on their risk appetite. This accumulated fund can be used for the financial requirements or part-prepayment of loan to reduce the EMI burden in case of high interest rate periods.

It is important to carefully do due diligence in choosing your housing finance company (HFC). HFC becomes your long term partner and at times it is not so easy to change the HFC or it requires additional cost to do so. Since a home loan is a long duration commitment, it is important to take some time and be a little selective about the HFC.

It can be helpful to take feedbacks and cross check the experiences from friends, relatives etc about the past dealings of the HFC. It helps in understanding various positive and negative aspects regarding a certain HFC and therefore helps in getting tied with the right lender.

The home loan insurance schemes are available through various insurance companies and they cover the home loan liability of an individual.

These policies cover the home loan if something happens to the borrower. In these policies, the sum assured is adjusted against your home loan liability with every EMI paid. Home loan insurance comes in handy for the risk adverse investors and those who do not have adequate insurance cover for their life.

Many home loan insurance products provide a cover to pay the EMI in case the borrower met an accident, suffered a prolonged illness or loss of job. It is important for borrowers to spend some time and figure out the appropriate insurance product that fits their need.

Courtesy:- Times Property dt:- 20-March-2010

SERVICE TAX WILL ADD TO THE COST OF YOUR DREAM HOME

March 20, 2010 Add comment

0 comments Real Estate in India

Currently, under the Income Tax Act, 1961 (the ‘Act’), an individual can claim a deduction for interest paid on housing loan for a self-occupied housing property for up to Rs 1.5 lakh in a financial year subject to the fulfillment of certain conditions. Furthermore, a deduction may also be claimed up to Rs 1 lakh for repayment of principal amount of the housing loan.

There were expectations that the above limits may be enhanced to provide some relief to the common tax payer. No additional concessions have been provided to the individual tax payers on this front in the Budget. Some relief though has been provided to the undertakings engaged in building housing projects in respect of extension of time period for completion of such projects and relaxation in norms for built-up areas for shops and other commercial establishments.

It’s, however, important to note that certain proposals on the indirect tax front could adversely impact the cost of the housing projects and thereby, increase the price of residential units. In this context, following points merit attention:

INCREASE IN EXCISE DUTY

In general, the standard excise duty rate of 8% has been increased to 10% on all goods, including steel, iron, etc. Excise duty on another main input of a housing project, i.e. cement, has also gone up. Duty hike in these essential inputs would impact the cost of the construction since in many cases builders may not be able to claim set-off of duty paid on these inputs.

PROJECTS UNDER CONSTRUCTION

Besides duty hikes in essential inputs, the government has also proposed to extend service tax to real estate, including residential units. Through this proposal, the government intends to levy service tax on sale of property by builder to buyer if any part of the consideration for the property is received before the completion of construction, i.e. before the receipt of completion certificate from the competent authority. In such a situation, the activity of construction would be deemed to be a taxable service provided by the builder/promoter/developer to the prospective buyer, and the service tax would be levied accordingly.

In this context, a question arises from a buyer’s perspective whether buying a housing unit for which he is making payment in installments actually involves any service being rendered per seby the builder. Also, it is not clear whether the proposed levy would impact only new projects or it would even cover the existing projects where booking has already been made by the individuals and part-payments made while construction is at different stages of completion.

If implemented , this proposal could lead to increase in prices of the property by about 3.4% of the sale price, and not 10.3% as is being generally understood, since service tax on such services is payable only on 33% of the value of the property.

PREFERENTIAL LOCATION

Another major setback has been the proposal to levy service tax @10.3% on any preferential location charge or other development charges recovered by the builder except charges in relation to parking spaces. Most of the housing projects have different cost components like preferential charges for certain apartments due to location advantage. These components may now be subject to service tax. This proposal is also likely to push the cost of housing even further.

TO SUM UP

The levy of service tax on housing projects would increase the price of the housing units, if the Budget proposals are accepted in the present form. One should, however, hope that at best the said proposals are made applicable to the new projects and not to the existing projects which are at different stages of completion. As most of the current housing projects have been delayed beyond any control of the buyer, in the whole bargain, the common man should not be burdened further.

Courtesy: - ET DT: - 18-03-2010

For information about real estate, real estate India, Indian real estate property, property in India, Indian property, apartments, apartments for sale, apartments for buy, apartments for sale in Delhi, apartments for sale in Gurgaon, apartments for sale in indirapuram, flats for sale in Delhi, homes, homes for sale, houses for sale, homes for sale in Delhi, homes for sale in Gurgaon, houses for sale in Delhi, houses for sale in Gurgaon, property investment options in Delhi, investment option in real estate, real estate consultant, real estate agents, real estate developers and many more log on to http://www.zameen-zaidad.com and http://propertycafeteria.com/

Tags: real estate property india buy rent sell residential commercial apartments agen

REALTORS WOO MFS TO THEIR IPOS WITH GOODIES

March 20, 2010 Add comment

0 comments Commercial Space

BPTP Park Serene, 4 bedrooms Multistory Apartments for sale in Gurgaon sec 37

While most of the large to mid-sized recent offerings have received a lukewarm response, the buzz is that quite a few real estate companies are bent on going ahead with their initial public offering (IPO) plans. Grapevine in market circles is that quite a few fund managers are being tempted with apartments at concessional rates in the projects of these companies in return for subscribing to the issues. This kind of arrangement will not be very expensive for real estate firms either, given the fat margins in the business and the fact that these projects are yet to be completed. After all, what are a few crores when hundreds of crores are at stake? Market watchers say at least two companies that came out with IPOs in the recent past had such an arrangement with some fund managers. Needless to say, both the offerings had witnessed a strong response from institutional investors despite expensive valuations. With banks cutting down their lending to the real estate sector, and the stock market, too, lukewarm to property developers, it has become a desperate situation for many cash-starved builders.

Courtesy:- ET dt:- 18-03-2010

Tags: real estate property india buy rent sell residential commercial apartments agen

March 17, 2010 Add comment

0 comments Commercial Space in Noida

Commercial Space in Noida

BPTP Park Serene, 4 bedroom Multi-storey Apartments for sale @ Rs. 4887750 in Sector 37D, Gurgaon, 150 mt. wide expressway will pass within half a km. range of the project, Mega SEZ earmarked in the master plan is in close proximity of the project, International schools are coming up in the vicinity, A 100 bedded hospital at 500 mts from the project.

This is a group housing complex being developed in Gurgaon. This project will consist of 2 and 3 bedroom apartments. The complex will have 100% power backup and 24x7 security along with recreational features such as clubs, swimming pool and landscaped areas. This project has been designed by Sikka Associates.

BPTP launched another grand state of the art Group Housing Project “Park Serene”. The project is located at Sector 37-D, Gurgaon in the serene, calm and nascent environs alongside the Dwarka - Gurgaon super expressway. Spread in an area of 24 acres, with 80% open area, the only limitation to the concept of “blessed living” is one’s own imagination. The remarkably outstanding developments which are planned in the area make the Group Housing one of the most

Promising destination for the end users in the years to come. The brand BPTP lends more credence and value to it and reassures the unmatched quality construction as delivered in the past by the company .The condominiums are a confluence of luxury, class and convenience and has excellent futuristic projections in terms of returns expected on investments for numerous reasons. Some of the most redeeming features of this new venture are as under-mentioned –

150 mt. wide expressways will pass within half a km. range of the project.

There is a vast exposure of reserved green area right opposite the project.

Mega SEZ earmarked in the master plan is in close proximity of the project.

International schools are coming up in the vicinity.

A 100 bedded hospital at 500 mts from the project and its construction is already underway.

The flyover from the Hero Honda Chowk is expected to be completed in two years from now.

A few sparklers which make the project unusually attractive for Group Housing. It boasts of an 8 acre mini golf course, 8 acre central park along with other features like club, gymnasium, round the clock power and water supply etc.

For more information about this project and about real estate information, real estate investment options, real estate agents information and information about 2 bedrooms flats for sale, 3 bedrooms flats for sale, 4 bedrooms flats for sale in Gurgaon and Delhi /NCR and also we provides real estate services like property for sale, project for sale, property investment, buy houses, sale houses, homes buyers, homes sellers and many more

On my web sites like http://www.zameen-zaidad.com/bptp-park-serene-gurgaon.aspx and

BPTP Park Serene, 4 bedrooms Multistory Apartments for sale in Gurgaon sec 37

Tags: real estate property india buy rent sell residential commercial apartments agen

March 17, 2010 Add comment

0 comments Real Estate in India

150 mt. wide expressways will pass within half a km. range of the project.

There is a vast exposure of reserved green area right opposite the project.

Mega SEZ earmarked in the master plan is in close proximity of the project.

International schools are coming up in the vicinity.

A 100 bedded hospital at 500 mts from the project and its construction is already underway.

The flyover from the Hero Honda Chowk is expected to be completed in two years from now.

On my web sites like http://www.zameen-zaidad.com/bptp-park-serene-gurgaon.aspx and

Tags: real estate property india buy rent sell residential commercial apartments agen

Recovery in realty

March 12, 2010 Add comment

0 comments Property in Delhi

Property in Delhi

Recovery in NCR and Mumbai is a definite precursor to the expected trends in 2010, a report says, but cautions that it would be premature to predict a bounce-back for the entire sector. Prabhakar Sinha writes

    Residential markets across major cities of India have seen significant appreciation in values towards the close of 2009. This trend is most prominent in NCR and Mumbai, the two key residential markets in India, where values in Oct-Dec 2009 appreciated, compared to the same period the year before, says Cushman and Wakefield in a report.
    The report said that recovery in NCR and Mumbai is a definite precursor to the expected trends in 2010. However, it would be premature, the report adds, to predict a bounce-back for the entire sector. The other markets which are still witnessing some correction are expected to stabilize only in the next 3-6 months. These are expected to see positive signs of recovery by the middle of this year, when values across the board would stabilize but will remain within acceptable range. The average increase in capital values in various micro-markets in these two metro areas has been in the range of 3 % to 25% over the previous year, the report shows (see chart). Most micro-markets in these two cities have recorded stable to appreciating capital values over the last quarter as well. NCR and Mumbai have shown a faster recovery than other cities due to the fact that these are high-demand markets, both from end users and investors, who were holding back their requirements as a result of economic slowdown, which created a kind of uncertainty in the
job markets. The best outcome of the slowdown is the emergence of affordable housing in the country. At the same time, the strong recovery in the economy led to sharp upward correction in the capital values for mid-ranged housing due to the quantum of demand and affordability.
    Certain broad trends that were noticed across cities were that peripheral and the suburban markets witnessed the highest correction but were also one of the first markets to bounce back, C&W says. Another shift in the trend is the rise in demands for properties under construction. The report said, there was a clear shift towards ready to-move-in properties during the beginning of the year, when there was uncertainty on the capability of a developer to complete a project. But that has receded now resulting in a rise in risk appetite for properties under construction.
    In the NCR region, demand for affordable housing in the range of Rs 20 lakh to Rs 40 lakh could be understood from the fact that a number of projects completely sold out within a couple of days of their launches. Recently, in Noida, Supertech, which launched apartments for Rs 9.75 lakh, (this is the first project in NCR for sub-Rs 10 lakh) could sell around 500 apartments in a couple of days. The new trend has led to increase in the volume of transactions. Supertech CMD, R K Arora, says that the developers have now shifted to high-volume business from high margin ones. However, he also pointed out that this became possible because of the relaxation in the density norms (number of apartments allowed to be constructed on a given area). Therefore, the construction activities are set to rise in 2010.
    Due to focus by developers in 2006 and 2007 on luxury housing, high-end properties in most cities suffered a steep correction when slowdown impacted the sector, as compared to mid-end properties. This left a large unmet demand in the mid-end market. As favourable conditions have come back, the sector has witnessed resurgence of demand.
    However, for the trend to continue, the government should not put extra burden on it. The budget announcement of 10.3% service tax on the sale of apartments before completion is expected to have the highest impact in the real estate market. This may hamper the attractiveness of the projects under construction. The scope of service tax is extended to the construction of complex service, wherein the developer/builder is likely to pay service tax on construction services while the project is under construction. The levy would cover all construction of complex service or commercial or industrial construction services resulting in higher cost of properties under construction. The service tax of 10.3% will be levied and also be charged on additional services provided in residential developments such as preferential location charges, internal or external development charges, etc. It is estimated that service tax of 10.3% will be levied on approximately 33% of the value of an apartment, which is likely to escalate the price of real estate and put further pressure on the housing affordability. In the short term, the report says, real estate prices across most cities are expected to continue to strengthen. However, it also warns that a significant increase could result in demand drying up and lead to stagnation or further correction. Rental values are expected to remain stagnant, especially in the luxury/high-end segment with certain mid-end properties witnessing buoyancy.
    Developers are likely to remain cautious and launch new projects at attractive price points, the report says. Due to prevalent demand for mid-income housing, most developers are expected to focus on new projects in this category, over short- to medium-term, with very few niche projects in luxury category with strong differentiation factors.

Courtesy: - TP DT:-13-Mar-2010

For more information regarding apartment in mumbai, bedroom apartments, buy property in india, commercial complex in india, commercial real estate, commercial space in mumbai, dealers, flats for sale, indian real estate investment, investment options in real estate, luxurious flats, malls, office space, office space in mumbai, online real estate, penthouses mumbai, plots, property consultants, property in mumbai, property india, property investment, real estate company, real estate developer, real estate mumbai, real estate in india, real estate investment strategies, real estate market, real estate news, real estate portals, realtors, realty, residence, residential real estate, sell property, shop, villas, Residential Apartment

TAX SOPS GOOD FOR HOMEBUYERS

March 12, 2010 Add comment

0 comments Real Estate in India

The restructured income tax slabs and liquidity in the banking system work well for homebuyers waiting to acquire property, writes B S Manu Rao

The much-awaited event — Union Budget 2010 — is behind us. This budget was crucial in that there were expectations of some rollback in stimulus measures as the economy is growing at a good rate. And a week later, homebuyers will find the incremental disposable income in their pockets useful as it makes EMIs that much easier to repay. For those waiting for a trigger, it is the push to go for a home now. Another factor that came as good news is the status quo on the home loan interest rate front. The last Credit Policy review hiked the cash reserve ratio for banks but the ample liquidity in the system and keen competition among lenders is holding the interest rates steady. As the growth forecasts for the economy hover around the eight percent mark, job security is gaining ground. The IT sector is faring well, especially in the segment catering to domestic demand. These factors point to consumer confidence looking up in the coming financial year. While the price correction in the property price that came following the sub-prime crisis brought house within reach of many more, the job insecurity was a wet blanket. Now, on the one hand, the sentiments have improved, and on the other, there is the new dimension of affordable housing that the slowdown evolved. This new segment in the property market is bound to find more potential homebuyers in the coming financial year as the new income tax structure comes into effect.
Budget and realty
The budget has an emphasis on promoting housing. The measures include: Interest subvention scheme extended The interest subvention scheme has been extended up to March 31, 2011. This move is aimed at boosting affordable housing. The Finance Minister has also proposed an extension of the one percent interest subsidy scheme to March 2011. The government had introduced this scheme in the last budget to promote low-cost housing. Under this scheme, borrowers will be given a one percent subsidy on the first 12 equated monthly instalments (EMIs) to be paid to the bank. This subsidy on housing loans up to Rs 10 lakhs, and where the cost of the property is under Rs. 20 lakhs, helps the cause of affordable housing. This along with the restructuring of the income tax slabs for individuals helps those looking at low-cost housing.
Tax holiday deadline extension
The extension of the deadline for completion of pending housing projects by one year for the tax holiday under Section 80-IB given earlier helps developers. The relaxation in norms for built-up area of shops and other commercial establishments in such eligible housing projects is also beneficial.
Allocation for development
There is an increased budgetary allocation for urban development and housing schemes. The investment-linked deduction benefit for convention centres located in the NCR has been extended till July 31, 2010. This is for deduction under Section 80-ID. The time limit for completion of projects eligible for deduction under Section 80-IB has been extended to five years. The more liberal limit to commercial space that could be created in such projects will also help.
Central registry
The budget has set aside Rs 25 crores for a Central Electronic Registry. The Central Electronic Registry (CER) will be a database of all mortgages and banks that have a charge. So, in future, when a borrower seeks to avail a loan against property, the lender will be able to verify whether anyone has a charge on the property already.

Courtesy: - TP DT:-13-Mar-2010

HNI investing in commercial properties

March 9, 2010 Add comment

0 comments Real Estate in India

Unlike in the past, the New Age Indians are not confined to investing in residential properties – they are now setting their sights on commercial property as well, says Vivek Shukla

    If you imagine that commercial properties are only purchased by companies to expand their business prospects, think again! Now high net worth individuals (HNI) too invests in commercial properties. As recently as a few years ago, commercial property was an investment option for select individuals. Apart from the issue of a large investment, it required a different mindset from the investment point of view as well. But, over the years, a large number of Indians have begun to earn huge salaries while many others are also making a lot of money through freelance jobs, which they are investing in commercial properties.
    Unlike in the past, the New Age Indians are not confined to investing in residential properties. This trend is picking up fast. “If banks do not show reluctance to give loans to individuals in order to buy commercial properties, more and more HNI will come forward to buy commercial properties. It is now no secret that banks hardly show any positive attitude to sanction loans to individuals in order to buy commercial properties. This happens all over the world. That is why you can not blame only our banks,” says Samir Jasuja, CMD of Prop Equity.
    An official of PNB Housing Finance Ltd also admitted that while banks happily give loans for residential properties, they are not that forthcoming when it comes to loans for the purchase of commercial properties. Reason? He said that compared to residential properties, the rate of default are very high in this segment. That is precisely the reason banks avoid disbursing loans to individuals in buying commercial properties.
    “As far as Ansal API is concerned, we have got bookings from a sizable number of such individuals (HNI) in our malls (Ansal Plaza in various locations), as also in small to medium office spaces in our commercial projects in Delhi NCR, Punjab, Lucknow, Kundli (near Sonipat in Haryana), among other projects,” says the company’s official spokesman.
    Anu Gupta, director of Century 21 India, says that HNIs should make investments in commercial properties as these investments could maximize their return. The reason being, while they could go for bank loans up to 75-80% for such investments, the repayment of such loans could be set off against the rental incomes from such commercial properties. Thus, by investing a portion of the total price (say 25%), an investor can acquire a high-value asset, which will not only give maximum return (thanks to the set off provision in IT against rentals), but could see a significant appreciation over a period as the retail/commercial industry grows.
    Giving his own example as to how he is earning less because he has invested in residential property while his friend is earning far more than him for investing in commercial property, a Delhi-based financial professional, Narinder Gambhir, says that both he and his friend invested in residential and commercial properties in 2004 in East Delhi. Both invested close to Rs 30 lakh each. “While I am getting a rent of Rs 15,000 per month, my friend is earning Rs 25,000 from his property. This is a huge difference,” Gambhir rues.
    Discussing about the factors which are crucial for HNI to look before buy commercial properties, a realty expert says that they should not invest where there is a deluge of supply. In that case, the investment would not fetch good returns. HNI also invest in commercial property, as they are not restricted to a dingy market area. Today, swanky malls enable an individual to look at commercial property as a viable investment option. Moreover, the emergence of semi-commercial property in residential locations has made the investment financially viable.
    R K Arora, CMD of Supertech group, says that there is nothing wrong if you invest in commercial property, but one must invest after taking all the pros and cons into consideration. “I feel that if you invest in some commercial space in NCR, then you have to wait for a long period before earning anything as there is a massive supply of such commercial property in NCR, unlike in Delhi. If you can invest in Delhi, then it is great.”
    However, Alimuddin Rafi Ahmed, CMD of ILD realty group, feels that as our economy is improving after tiding over a really tough time during the market slum of 2008-09, corporate are looking for commercial spaces on lease; hence it is a perfect time to invest in commercial properties. “This is just the right time to invest as the property is available at rock-bottom prices. The crash in property prices led to downward revision of prices by developers. The reduction was to the tune of 30% or so,” Ahmed concludes.

Courtesy: - Times Property DT: - 06-Mar-2010

Tags: real estate property india buy rent sell residential commercial apartments agen

Budget, Realty and You!

March 9, 2010 Add comment

0 comments Property in Gurgaon

Subhash Lakhotia
takes you through the Union Budget and says what it has in store for the Indian investor in realty sector

The Union Budget 2010-11 has brought about significant a m e n d m e n t s, which are going to affect the real estate sector. The first and most important point concerning real estate sector is that the existing income tax deduction in respect of interest on residential house property loan will continue to be allowed as a deduction up to Rs 1.50 lakh. Similarly, the repayment of the housing loan will also continue to enjoy deduction within the existing limit of Rs 1 lakh under Section 80C of the Income Tax Act, 1961.
    Building and operating a new 2-star hotel or above as classified by the central government on or after April 1, 2010 would enjoy the benefit of Section 35AD of the Income Tax Act, 1961. This amendment to the said Section 35AD will inspire a large number of taxpayers of India to set up 2-star and above hotels anywhere in India to enjoy the tax benefit. The entire expenditure incurred, wholly or exclusively, for the purposes of a new hotel will be allowed as a deduction in terms of Section 35AD of the Income Tax Act, 1961.
    The special feature is that all types of capital expenditure other than expenditure incurred on acquisition of land or goodwill or financial instrument will be allowed as a deduction to the assessee. The impact of this amendment would result into a zero income tax liability for a couple of years for the new hotel, which starts functioning after April 1, 2010. However, there is no condition with regard to the place where the hotel is to be set up. Thus, the business of building and operating a new hotel of 2-star or above category, anywhere in India, which starts functioning after April 1, 2010 would come within the purview of specified business, and as such, would be entitled to deduction even in respect of capital expenditure. There is no restriction even with regard to capital employed and the location of the hotel etc. However, those taxpayers, who would like to take advantage of this section, should remember that they should build and operate the new hotel. This tax benefit will not be available if merely a hotel is built or merely the hotel is operated by a taxpayer.
    In another amendment, the threshold limit for tax deduction at source on the rental income has been increased to Rs 1,80,000 per year as against the existing threshold limit of Rs 1,20,000. This amendment will take effect from July 1, 2010. As a result of the proposed amendment, there would be relief to senior citizens and women taxpayers in particular, who receive rent in respect of the property because, now, no tax would be deducted at source on such rental income up to Rs 1, 80,000 in a year.
    Amendment has also been made to Section 56 of the Income Tax Act, 1961. This amendment is applicable from October 1, 2009. As a result of amendment to Section 56, any immovable property if received by an individual or a Hindu Undivided Family without consideration, in that case the stamp duty value of such property would be added as an income from other sources. This provision, however, would be applicable only in respect of receipt of such property as gift the value of which exceeds Rs 50,000. It may be recalled here that this provision also existed in the statute book last year but the existing section has been substituted with a small amendment. However, the big amendment which has been made to Section 56, retrospectively from October 1, 2009 and which will have great impact on a large number of taxpayers of India, relates to deletion of existing Section 56(vii)(b)(ii). As per this section, which was introduced through last year’s budget, if consideration for property is less than the stamp-duty value of property by an amount exceeding Rs 50,000, then in such a situation, the stamp-duty value of such property as exceeds such consideration would be added as income from other sources in the hands of the individual or an Hindu Undivided Family.
    This section was creating a lot of tension in the minds of taxpayers. Hence, luckily, this section has been deleted retrospectively from October 1, 2009. The impact of this amendment would be that if a person buys some property, let us say for Rs 18 lakh and the value adopted or assessed by the state government for the purposes of payment of stamp duty in respect of this property is Rs 24 lakhs – in that situation, the buyer might have paid stamp duty on Rs 24 lakhs even though the sale transaction is of Rs 18 lakh. But in view of deletion of the above provision under Section 56, the buyer will not be subjected to income tax on the difference between the purchase price and the stamp-duty value of the property. Hence, in view of amendment to Section 56 of the Income tax Act, 1961, genuine hardship that might have been caused to the taxpayers has been addressed very well by the budget.
    Like any other company, if a real estate private limited company is to convert itself into limited liability partnership, then there will be no liability to capital gains tax because the provisions of Section 47 have been amended by the Union Budget. However, certain procedural formalities have to be complied with to avail tax exemption. One of the most important conditions is that the total sales, turnover or gross receipts of the business of the private limited company, which desires to be converted into a limited liability partnership, should not exceed Rs 60 lakhs in any of the three preceding years and that the shareholders of the existing company become partners of the limited liability partnership in the same proportion as their shareholding in the company.
    As per Section 80ID of the Income Tax Act, 1961, profits of a hotel or convention centre in the capital territory if constructed by March 31, 2010, are exempted from income tax. The current budget provides some more time for these facilities to be set up for the Commonwealth Games to be held in October 2010. Hence, amendment has been proposed to Section 80ID to extend the date by which the hotel has to start functioning or the convention centre has to be constructed, from the present March 31, 2010 to July 31, 2010. It may be recalled here that Section 80ID of the Income Tax Act provides for 100% deduction for five years to an undertaking from the business of a 2-star or 4-star category hotel or from a business of building owning and operating the convention centre located in the NCT of Delhi and the districts of Faridabad, Gurgaon, Gautam Budh Nagar, Ghaziabad provided such hotel has started functioning or such convention centre constructed during the period 1.4.2007 to 31.3.2010. Now, due to extension of date of July 31, 2010 there would be relief to those persons whose projects have been delayed.
    Special provisions for computing profits and gains of business on presumptive basis have been introduced by the Union Budget. The benefit of this amendment can also be taken by all those persons who are engaged in the business of real estate. As per this section, if a person does not keep accounts and has a turnover of Rs 60 lakh, he can opt for computing the income on the basis of presumptive taxation. Hence, for a person with no accounts doing business and having gross receipts of less than Rs 60 lakh, his business income on presumptive basis would be treated as the amount equal to 8% of the total turnover or gross receipts. Likewise, the limit of tax audit has been increased from Rs 40 lakh to Rs 60 lakh. This will also help all those persons who are in the real estate sector. Likewise, the exemption limit for tax audit for professional persons has been increased to Rs 15 lakh.
    This will help real estate brokers who are having gross receipts up to Rs 15 lakh, because they would now not be required to compulsorily get their accounts audited. The amendment relating to payment of tax deducted at source by the date of filing income tax return will also help all those who are engaged in real estate business also, because now, as a result of the proposed amendment to Section 40 of the Income Tax Act, 1961 in respect of any sum on which tax has been deducted at source and the same has been paid even by the last date of filing the income tax return, even in that situation, the expense would not be disallowed.

Courtesy:- Times Property dt:- 06-Mar-2010

US NEW HOME SALES FALL IN DEC FOR 2ND MONTH IN A ROW

March 6, 2010 Add comment

0 comments Property in Gurgaon

Sales of newly built US single-family homes fell unexpectedly in December, data showed on Wednesday, the latest indication that the government-led housing recovery might be losing some steam. The Commerce Department said sales fell 7.6% to a 342,000 unit annual rate from an upwardly revised 370,000 units in November. It was the second straight month that new home sales declined. US stock indexes fell on the data, while government bond prices held at higher levels.

“This isn’t good news. It should put some pressure on the market, especially coming after the disappointing outlooks we saw,” said Dan Cook, senior market analyst at IG Markets in Chicago. New home sales for the whole of 2009 fell 22.9% to a record low 374,000 units, the department said.

The data came as the Federal Reserve deliberated on monetary policy. The US central bank is expected to leave overnight lending rates near zero.

At its meeting in December, the Fed announced it would end purchases of agency mortgage-backed securities in March. The program has depressed mortgage rates, contributing to the housing market’s healing in recent months.

But the housing market recovery is showing some signs of fatigue after a surge in sales as first-time buyers rushed to take advantage of a popular tax credit, which had been scheduled to expire in November.

It has since been expanded and extended until June this year and while analysts expect home sales to pick up as a result, they reckon the pace will not be as strong as witnessed with the initial tax credit.

Courtesy:- ET dt:- 28-jan-2010

REAL ESTATE FIRMS GAME FOR SPORTS-THEMED COMPLEXES

Tags: real estate property india buy rent sell residential commercial apartments agen

March 6, 2010 Add comment

0 comments Real Estate

The model offers homes with sports facilities like race tracks.

Real estate projects with “sports” as theme appear to be catching on with Indian developers. Under this model, borrowed from the West, companies offer homes surrounded by sports facilities like race tracks, cricket stadium and lawn tennis courts. And, the pricing is fairly competitive.

Jaypee Sports City, coming up in Greater Noida on 2,500 acres, is one such project. The city, being built by Jaypee Greens, boasts a cricket stadium, a go-karting facility and an international standard motor race track, covering 875 acres.

While the company has earmarked 700 acres for residential development and 300 acres for commercial and institutional development, the remaining 625 acres will just have greenery.

Launched in November last year, the company claims that it has seen good traction. Around 70 per cent residential plots and 50 per cent apartments have been sold.

“Jaypee Sports City has been conceptualized as an integrated city, where one gets everything that he dreams of in his neighbourhood,” said Manu Goswamy, head, sales & marketing, Jaypee Greens.

“Jaypee Sports City is a huge project which will be developed in various phases. It is difficult to give the finishing date. We will be able to start the delivery of the first phase (launched inventory) from 2011.”

The residential plots are 153-538 sq yard each and priced at Rs 18,000 per sq yard. While 850-1,800 sq ft (high-rise apartments) flats will be priced at Rs 2,450 per sq ft, 1,600-2,100 sq ft (low-rise apartments) houses will be sold at Rs 2,850 per sq ft.

Emaar-MGF, a real estate major, is also building 1,168 apartments (34 towers) in Commonwealth Games Village in New Delhi. “We have been awarded the work for development of the 27.2-acre residential complex, part of the over 100-acre Commonwealth Games Village 2010 complex. This is one of the most prestigious projects being undertaken by the company,” said a company spokesperson.

Another sports project is “US Open Apartments” in Mulund, Mumbai. The project, being build by Nirmal Lifestyle, will have amenities like spa, a fitness centre, sports clubs, lawn tennis courts, a baseball court, a swimming pool, and badminton courts, over 75,000 sq ft out of the 5,00,000 sq ft that will be developed. The company has tied up with US Open for this project.

“We wanted to bring the concept of health and fitness into the country. Today, many parents want their kids to be sportspersons and if we offer them different stadiums in the complex, the project becomes appealing to them,” said Dharmesh Jain, chairman and managing director, Nirmal Lifestyle.

The US Open apartments will have two- to five-bedroom houses and the project is likely to be completed in the next four years. “We have seen a lot of enquiries from customers and we expect it to be a successful venture.”

Nitesh Estate of Bangalore has built a series of sports-themed residential complexes — Nitesh Wimbledon Park, Nitesh Flushing Meadows, Nitesh Roland Garros and Nitesh Wimbledon Gardens.

According to real estate consultants, there is a market for residential and commercial complexes based on the sports theme.

Courtesy:- BS dt:- 21-feb-2010

YOU’RE GUIDE DELHI RENTALS playing landlord

March 3, 2010 Add comment

0 comments Property in Gurgaon

It is essential that the rent should cover at least the cost of ownership ¬ the interest factor and a part of the principal amount

Jai Mavani

If you are the owner of a property and you have rented it out to tenants, you will be expected to maintain your property for them. This is because (and you can take this as a rule) a tenant does not have the time to maintain the asset himself and always expects the owner to maintain it.

If your property has housed tenants for a long time and commanded fairly competitive rates, you can expect a better valuation. The case would be vastly different for a property that sees short-term tenants and rates that spike periodically. Always remember to factor in transaction costs such as stamp duty and brokerage. This counts as good advice because these costs can be quite high. Apart from speculation, demand and supply determine the price of your property most significantly. Selecting your tenants while selecting a tenant, you must consider certain attributes. Primarily, you must ascertain that you have the right mix of positive cash flow and security for your property. The badly chosen tenant can steadily become a nightmare ¬ which might never end!

It is the class of your property that eventually attracts the type of tenant. And that's a fact. You may find some aspirants who offer you a higher rent for your property and some that don't quite make it to your expectations in the department. However, don't blindly go in for the largest bundle of cash offered. Keep in mind the painful fact that the tenant eviction process in India can be excruciatingly long. You should also consider that in India you can't always research the credit history of a potential tenant. This is mainly due to the fact that individual credit bureaus in India, as compared to foreign countries, are in nascent stages of development.

Personal references from common friends and acquaintances or third-party references are the preferred and most common form of background check. You can ask for such references from your tenants before closing the lease agreement. Before you get into an agreement with the tenant, remember to gain absolute clarity on what s/he intends to do with the property. This is important since there are situations in which your property might experience a greater degree of use, hence wear and tear, than others. For example, if the property will be used as transit accommodation or a guest house, maintenance cost will rise significantly. If your tenant mentions that his tenancy will involve the stay of many children, you can expect a similar rise in the level of wear and tear.

Try to factor in these higher maintenance costs into your rent expectation. Terms of agreement your commercial negotiations should factor in various pricing and financial issues. They should ideally include a comprehensive list of responsibilities of the lesser and the lessee.

This is what you need to consider while quoting a rent. It is essential that the rent should at least cover the cost of ownership, which means the interest factor of the EMIs if the leased property is leveraged. Additionally, it should also include a part of the principal. It should signify a fair return on investment for you. It should equate with the market levels, factoring in any escalations due to any special usage. Include the society maintenance charges into your rent quote.

Also calculate the rent with the understanding that you would be bearing the electricity and water charges. There should be an extra charge for any additional space provided. This includes parking spaces and such considerations should be declared to the tenant in advance. Make it a point to bill your property maintenance charges and security charges separately. It might be prudent to draft an exclusive agreement for these billings with a detailed disclosure of what types of maintenance will be covered. The stamp duty and registration cost must be borne by the tenant though it may be noted that in case of a lapse of such payments, the authorities concerned may charge the landlord. If there is an incremental fee or profit arising from the sub-lease of the property, the landlord is entitled to a share of such monies. There should be provisions for a security deposit and terms of repayment of such a deposit. With regards to the property usage, you should lay down some terms as to what the tenant can and cannot do on the premises. If any modifications can be made to the fittings, or if any alterations to the structure (even painting permissions) are allowed, it is the landlord's responsibility to clarify this in advance to avoid laster misunderstandings. The timeframe of the lease and the escalation of price on rollover must also be discussed in advance. Include a mid-term exit clause in the agreement, including provisions notice periods, penalties, etc.

From an overall perspective, it is essential for you to have a laundry list of sorts that gives you a clear idea of what must be focused upon at the agreement drafting stage. Heads of agreement or a Memorandum of Understanding (MOUs) made with the help of your lawyer and broker can help in creating your checklist during the negotiation process. Your broker can inform you about current market prices and the loopholes you can use in your favour. Make sure your broker is working in your favor even if his brokerage is slightly higher. With a good broker, your negotiating position will be stronger and you can take care of almost any eventuality. Rent collection this could well be the sweetest part of the deal but if you're cursed with a bad tenant, this could be the biggest torment. You must ensure that the tenant pays his rent regularly and as per the agreement. You can collect rent in the following ways: Cheques or pay order payments to be made for specific dates inter-bank transfers that can be made through direct debits.

The author is Executive Director KPMG Pvt. Ltd. This article was first published in Knight Frank's guide book titled Real Investment: A real estate investment guide for India

Courtesy: HT Estates 20th Feb 2010

For more information regarding apartment in gurgaon, bedroom apartments, buy property in india, commercial complex in india, commercial real estate, commercial space in gurgaon, dealers, flats for sale, indian real estate investment, investment options in real estate, luxurious flats, malls, office space, office space in gurgaon, online real estate, penthouses gurgaon, plots, property consultants, property in gurgaon, property india, property investment, real estate company, real estate developer, real estate gurgaon, real estate in india, real estate investment strategies, real estate market, real estate news, real estate portals, realtors, realty, residence, residential real estate, sell property, shop, villas, Residential Apartment

Visit www.zameen-zaidad.com

www.propertycafeteria.com

Tags: real estate property india buy rent sell residential commercial apartments agen

Value lies in the eyes of the beholder

March 3, 2010 Add comment

0 comments Property in Gurgaon

How much is your house worth? The price of a property may not necessarily reflect its value. To get an idea, engage a valuer empanelled with a professional body

Sachin Sandhir

For a majority of citizens residential property represents their single largest financial commitment. Built with huge sums of hard earned money, homes are something that every individual takes pride in, which is often reflected through notional value. To get information, people will have discussions about the same in their social circles, among family and relatives. These create speculation and curiosity amongst people, even who have no intention to sell, to know what their property is worth. While people tend to use the terms price, worth, and value interchangeably, these differ in meaning and implication. The price of a property may not necessarily reflect value, which is governed by various other factors and considerations. Therefore, when selling, it is essential to determine the value of property.

An informal and simple way to determine value is to approach a real estate agent, who provides comparative data on similar properties that he has transacted in and the rates at that point in time. However, this value is only an estimate and should not be considered as the `market value'.

In order to get a true picture of all economic/financial aspects of a particular property, it is advisable to engage a valuer, empanelled with a professional body, to determine the `market value' of the property. RICS accredited valuers carry out credible valuations based on the RICS Red Book of Valuation Standards and are, therefore, considered as the mark of professionalism worldwide and across India.

Valuation is a soft science involving high level of judgment where different assumptions lead to different values. Considering the risks associated with valuation tasks, meticulous application and specialised skills are required, which come at a cost --the cost of a valuation report. Therefore, this approach should be adopted when seriously considering sale of your property, as the stakes are high and the accuracy of the `market value' will determine your financial gains. A professional valuation, backed by consistent valuation standards, is a thorough exercise conducted by a competent valuer who will spend time collecting data, inspecting the location and property and a thorough due diligence of all important legal, economic and financial aspects. Some aspects that form part of a professional valuation and which will significantly impact the property values include: Freehold and leasehold property Land value: This forms a major component of the overall property value, the extent to which verification of land records and title deeds was incorporated as part of the valuation report, is laid down in the `scope of work' and `assumptions' for estimating the market value.

As is: The value of the property in the "as is" state Highest and best use: This is the process used to determine property use which is legal and yet produces the highest value for land Cost approach: The value of the building is based on how much it would cost if one was to construct the property today; this approach is more relevant and applied in case of newly built properties Sales comparison approach: A comparison of the purchase prices of similar properties that were sold in the recent past is considered; upon data collection, upward/downward adjustments are made, to account for differences in year built, construction quality, condition of the property; attractiveness of location, lot /apartment size, available facilities and other such factors Given the level of activity in the residential space, it is essential to institutionalise valuation standards. These coupled with higher professionalism in this practice, I am certain will ensure that valuation of land and properties will no longer be artificially inflated and this will contribute significantly in containing land prices, which are very important when it comes to providing homes at affordable prices. The author is Managing Director and Country Head, RICS India

Courtesy: HT Estates 20th Feb 2010

Commercial Space in Noida

Tags: real estate property india buy rent sell residential commercial apartments agen

You can depend on DDA

February 27, 2010 Add comment

0 comments Commercial Space in Noida

Commercial property shop, office space or plot developed by DDA, is a safe buy

Arati Bhargava a C

People looking out for commercial property generally prefer to get those developed and sold by the Delhi Development Authority (DDA). That is because, first, the property has already been constructed; second it costs less than the market rate of the area and third, it is already be in a commercial zone.

In a DDA property the first buyer of the commercial space makes a completely safe buy. The reason being that he purchases it directly from the DDA and, therefore, there is negligible chance of any problem. When the DDA sells office space or shop it advertises inviting tenders. The person who bids the highest gets the shop. In the case of commercial space that is to be put on auction, the DDA declares the minimum reserved price and any bid thereafter has to be over and above that. In respect to commercial plots, the DDA advertises details of the plot, its land use and the date of auction, in leading newspapers. The prospective buyer is expected to deposit a cheque of an amount specified by the DDA should he want to bid for the property. Later, in the auction, should the person's bid be the highest and accepted by the DDA; this advance amount is adjusted against the price.
If the person's bid is rejected, then the DDA refunds the amount deposited.

The transfer of ownership of a property purchased directly by the DDA is completely above board. The registration of the property is done in the name of the buyer with the sub-registrar of the area and the buyer gets the Conveyance Deed (rights to the property). For those who buy the commercial space or property from the first buyer or even subsequent buyers it is vital to check the property history. The Documents you should include the original Conveyance Deed of the property. Also check that the size of the shop is as specified in the deed to ensure that no unauthorized space has been covered as that may be liable to action by the authorities. In addition, see that dues like property tax, water and electricity bills have been paid up to date.

Insist on seeing the original deed because sometimes photocopies of deeds are shown, with the seller claiming the original is lost and this creates problems later. Buying office space or commercial space in a large complex involves a different kind of paperwork. The commercial plot's building plans have to be sanctioned by the concerned civic agency. The purchase of a shop or office space in a commercial block is done through a builder-buyer settlement. This agreement is registered and in effect is a sale deed. Should a person be buying such property, from the first or subsequent owner, he should definitely go through the ownership history of that property that includes checking the first builder-owner settlement.

Another document that needs perusal is the Completion Certificate (CC ) given by the concerned civic agency to that complex. The authorities give the CC to the owner only after the building has been completed and if it has been made as per the sanctioned building plans.
(the writer is a senior columnist )

Courtesy: HT Estates 20^th Feb 2010

For more information regarding apartment in Gurgaon, bedroom apartments, buy property in India, commercial complex in India, commercial real estate, commercial space in Gurgaon, dealers, flats for sale, Indian real estate investment, investment options in real estate, luxurious flats, malls, office space, office space in Gurgaon, online real estate, penthouses Gurgaon, plots, property consultants, property in Gurgaon, property India, property investment, real estate company, real estate developer, real estate Gurgaon, real estate in India, real estate investment strategies, real estate market, real estate news, real estate portals, realtors, realty, residence, residential real estate, sell property, shop, villas, Residential Apartment

Loan special Think you need a loan?

February 27, 2010 Add comment

0 comments Commercia Space in Delhi

Getting a bank loan to finance a residential property purchase makes sense because you get to own a home early on in life and do not have to pay rent that escalates every year A look at the various options available

Many people might think that when there s an option of renting a house why should one take on a large liability and buy a house. The reason why they should (buy one) is that there is a major disadvantage involved in the process of renting a house. A tenant pays a monthly rent, and even after years of paying the rent no ownership comes to him/her.

On the other hand, there might be an equal amount e paid as an equated monthly installment (EMI) on a housing loan but the difference here is that the money is going for a property one will own. The real benefit from e the house comes in the form of capital appreciation.

House prices in India have risen sharply in the past and are expected to keep rising in areas that have good infrastructure. This appreciation in the value of the property makes a compelling case for buying a house by taking a loan. An individual actually leverages the amount that he/she has with him/her by taking a loan and financing a larger cost house.

The benefit of the appreciation in the value of a residential property is available for the entire amount even though it might take years for an individual to pay off the loan and finance the complete house.

Courtesy: HT Estates 20^th Feb 2010

YOU’RE CITY SOUTH DELHI

February 25, 2010 Add comment

0 comments Office Space in Delhi

Office Space in Delhi

South Delhi epitomizes class and traditional chaos in equal measure

It has some of the ultimate addresses to vie for in India as well as historic monuments and urban villages. Razia Sultan led her kingdom from ruled her kingdom from Mehrauli in the 13th century.
Today, many a high and mighty rule the roost here.

South Delhi epitomizes class and traditional chaos in equal measure. If you are looking for a place to rent someplace here, there are many enviable options to pick from. Not only are many preferable neighbourhoods relatively close to Delhi's central business district -Connaught Place and the international airport, they are also connected to industrial suburbs such as Noida and Gurgaon. What might excite some is the Delhi Metro that will soon dash through localities like Jor Bagh, INA, Green Park, Hauz Khas, Malviya Nagar, Saket, Qutab Minar and Chhattarpur before leaping into Haryana (for which the trial run was conducted last month).
The supply According to market insiders, there are residential options in localities like Defence Colony, Vasant Vihar, New Friends Colony, and Greater Kailash I and II.

Real estate dealers say, among category A neighbourhoods, you can also find rental accommodation in Shanti Niketan and West end.
Abhishek Raj Mudgal, proprietor, Shree Jee Associates, Safdarjung Enclave, says there is supply (for rented housing) across the area, including colonies such as Safdarjung Enclave, Green Park, Golf Links, Malcha Marg, Sunder Nagar and Safdarjung Development Area (SDA). A three-bedroom apartment can be rented for Rs 35,000 a month in SDA or Green Park, says Mudgil.

"If you have budget constraints, you may check out Anand Niketan," says Sanjay Sharma, proprietor, SM Realtors, Defence Colony.
Another upscale option is Defence Colony, specifically A and D blocks, says Sharma.
"It is very central and one can, from here, get very quickly to Connaught Place, Supreme Court, High Court, railway station and to the airport."

Those interested in having this premium zone as their address can rent a brand new, three-bedroom apartment for Rs 1.75 lakh to Rs 2 lakh a month while an old one goes for Rs 75,000 to Rs 90,000 a month, says Sharma. In Defence Colony's A block, the rent for a new 1400-sq ft apartment is Rs 90,000 a month and Rs 55,000 to Rs 60,000 a month for an old construction.

Where Panchsheel Park and Anand Lok are concerned, rental values of independent houses (three-five bedrooms) are for about Rs 2.35 lakh to Rs 2.5 lakh.
Apartments of about 2300 sq ft to 3000 sq ft go for about 1.75 lakh to Rs 2.25 lakh.

As per multinational property corporation CB Richard Ellis (CBRE), the rental values for three/five bedroom independent houses range from Rs 2.25 lakh to Rs 2.5 lakh a month in Niti Bagh and SDA. The monthly rentals for 2300 3000 sq ft apartments vary from Rs 1.25 lakh to Rs 1.75 lakh in Niti Bagh and SDA. CBRE data shows the capital values of apartments ranging from Rs 20,000 to Rs 25,000 per sq yd in Friends Colony and Maharani Bagh. (CBRE figures are asking rates, not necessarily those at which transactions take place.) The attractions So, what makes south Delhi click? It has a whole host of eateries, cine plexus and shopping centers... You can chill out at places such as Ansal Plaza, Select City Walk, MGF Metropolitan Mall, DLF Emporio, to name a few. In addition, major markets include South Extension, INA market, Greater Kailash I, and Sarojini Nagar.
Then there is that slice of India, the greatest of crowd pullers, Dilli Haat, near INA.
The trendy Khan Market and Sunder Nagar market are not too far either.

When it comes to medical facilities, the area is serviced by some of the country's best super-speciality hospitals.
South Delhiites have access to healthcare centres such as the private Max hospitals (multiple locations), Escorts Heart Institute and Research Centre (Okhla Road), Rockland (Qutab Institutional Area), Indraprastha Apollo (Sarita Vihar), Batra (Tughlakabad Institutional Area), GM Modi (Saket), Sitaram Bhartia Institute of Science and Research (Qutab Institutional Area) and the well-known, government-run All India Institute of Medical Sciences.
The competition However, posh south Delhi has serious competition from Trans-Yamuna, which has a slew of property options, expanding infrastructure and facilities, as well as the satellite town of Noida, now linked to the heart of the capital through the Metro.

Courtesy: HT Estates 20^th Feb 2010

For more information regarding apartment in south delhi, bedroom apartments, buy property in india, commercial complex in india, commercial real estate, commercial space in south delhi, dealers, flats for sale, indian real estate investment, investment options in real estate, luxurious flats, malls, office space, office space in south delhi, online real estate, penthouses south delhi, plots, property consultants, property in south delhi, property india, property investment, real estate company, real estate developer, real estate south delhi, real estate in india, real estate investment strategies, real estate market, real estate news, real estate portals, realtors, realty, residence, residential real estate, sell property, shop, villas, Residential Apartment

Commercial Space in India

What is a home loan?

February 25, 2010 Add comment

0 comments Commercial Space in India

It's not always possible to buy a house with the money you have saved up. Home loans are the best options you have

A Home loan is a loan provided by a financial institution to finance the purchase/construction/renovation of a residential property. It is a much sought-after product because often people do not have the required capital to fund their purchase.

Earlier, there was little borrowing and people generally tried to avoid creating debt.
Now with the situation having undergone a change, borrowing to create an asset is not only common but in many situations makes good economic sense. A house is generally considered to be an appreciating asset. This is because the price of the property is expected to rise over a period of time. This makes financing of such a purchase by borrowing a good way to own and create an asset without having all funds for the purpose.
Financial planners will always advise against taking a loan for undertaking expenditure but encourage borrowing for buying a house.

Home loans are typically long-term loans, with repayment periods of up to 20 years. The house financed is mortgaged with the bank providing the loan. There is an option of fixed and floating interest rate when one goes in for a bank loan. Residential property prices India have shot up significantly; so many people have no option but to bank on housing loans. A person earning Rs 5 lakh a year will aspire to own a house that costs between Rs 15lakh-Rs 20 lakh while someone with a pay packet of Rs 20 lakh a year would like to own a bigger house in a better locality that costs anything between Rs 75-80 lakh.

The ability to repay the loan over a long period makes borrowing affordable for an individual because it fits the monthly outgo within his/her income.

Source: Rupeetalk.com

YOUR CITY WEST DELHI

February 23, 2010 Add comment

0 comments Commercial Space

The area is virtually bubbling with commercial and residential real estate activity, says Syed Amir Ali Hashmi

Shaliendra Rana (25), who works in the technical support department of a software firm, recalls the time when they moved to Vikaspuri in 1994."We moved because, at that time, the property prices here were lower," says Rana. Another major reason was Rana's studies. His school was closer to his new home. "When we moved here the place was not so developed”.
There were no planned markets. However, builders are now taking an interest in the area and are constructing residential units. Markets and shopping areas have also come up and have improved the quality of life for residents. Another interesting thing is that the Hilton Hotel is coming up near the Metro station. This will add another feather to the West Delhi's cap," says Rana. Thanks to these and many other developments, West Delhi is now one of the more prominent places in the capital. It is bubbling with both residential and commercial real estate activity. Divided into three subdivisions -Patel Nagar, Rajouri Garden, and Punjabi Bagh West Delhi encompasses an area of 129 sq. km. It has well-known and reputed hospitals such as Deen Dayal Upadhyay Hospital, Rajeev Gandhi Cancer Hospital and Indraprastha Cancer Society. In the last few years, property prices in West Delhi have appreciated significantly. They saw a further rise of almost 20-25 per cent, thanks to the improved connectivity delivered by the Metro. The Metro has meant that the region is seeing renewed interest in commercial activity as well. Improved connectivity to the Central Business District (CBD) and the gradual development of Netaji Subhash Place along the lines of Nehru Place and Rajendra Place has aided the rise in property prices in the region. There is more good news for West Delhi. The Mundka Inderlok Metro Extension is expected to become operational in another couple of months. This will further improve West Delhi's connectivity to the CBD and East Delhi locations. One can count on a rise in capital and rental values, on the lines of what has already been witnessed in the past six months. The effect of easy accessibility has been reflected in the property prices here. One can now cover the distance from Dwarka to Yamuna Bank about 32 kms in about an hour with connectivity to 32 stations on the way. This has increased the popularity and occupancy, hence the prices, of residential properties in the area. In Rajouri Garden, plots of 250 sq. yd. are available for Rs 5 crore. In Vikaspuri, the price of a 125-sq-yd plot is about Rs 1.85-2 crore. LIG DDA flats (sectors JG1, 2, 3 and GG2) are for Rs 28 lakh; MIG (GG1, KG1) is Rs 50 lakh and in DG2 and DG3 it is around 45 lakh; HIG flats cost about 70 lakh.

"In Janakpuri, one can buy plots of 150 sq yd for about Rs 3 crore and a 325-sq-yd plot for about Rs 6 crore. I would say that investment in plots is a good option here. If we look at blocks A2, C, and D, the areas are fairly open. Infrastructure here has improved, the drainage system is good, and the market association has recently started a divider scheme here. In Punjabi Bagh, on road number 60 and 65, DDA plots of around 250 sq yard are available for Rs 5.5 crore to Rs 6 crore. On road numbers 24, 27, 28 and 29, 200-sqyd plots in Punjabi Bagh Extension can be bought for about Rs 4 crore," says Pradeep Mishra, a real-estate analyst. Overall, this area too has benefited from the connectivity afforded by the Metro. Growth has been good and many educational institutes, offices, retail markets and parking spaces have come up along with the Metro.

Little-known areas that have shot to sudden prominence, thanks to the rail connection, include Rithala in Northwest Delhi and Narela, Uttam Nagar and Dwarka Modh in West Delhi. In response to the popularity of the area, realty giant DLF recently launched `DLF Capital Greens' in West Delhi, near the Moti Nagar Metro station.

Commercial activity has also seen a surge. There are now about 60-70 restaurants on the Najafgarh Road. About five malls (TDI, City Square, Paragon, West Gate and Shoppers Stop) have come up in a short span of time.

West Delhi comprises areas like Ashok Nagar, Delhi Cantt., Dwarka, East Patel Nagar, Karol Bagh, Khanna Market, Kirti Nagar, Mansarovar Garden, Moti Nagar, Nangal Raya, Naraina, Patel Nagar, Punjabi Bagh, Rajendra Nagar, Rajouri Garden, Rohini, Tilak Nagar, Uttam Nagar, Vikaspuri, West Patel Nagar, and Yashwant Palace.

Courtesy: HT Estates 20^th Feb 2010

More Information of Real Estate, Real Estate in India, Indian Real Estate, Commercial Space, Commercial Space in Gurgaon, Commercial Space in Delhi, Commercial Space in Noida, Commercial Space in India, Office Space in Delhi, Office Space in Gurgaon, Office Space in Noida, Residence, Buy Property in India, Property in India, Property in Delhi, Property in Gurgaon, Property in Noida, Home Loan, Real Estate Agents, Real Estate Funds

Log on: -- http://www.zameen-zaidad.com &

http://www.proepertycafeteria.com/main.aspx

YOUR CITY RESIDENTIAL OPTIONS

February 23, 2010 Add comment

0 comments Residance

Residance

Your wait could end right here

More than 20,000 houses are expected to come up in Delhi this year

Shweta Jain

The year 2010 can be a game changer, for the housing shortage in New Delhi is all set to be bridged, to a certain extent, with new supply coming in. There are approximately 15,000 flats being readied in Vasant Kunj, Jasola, Narela and Dwarka to meet the housing demand that will arise during the Commonwealth Games to be held in October. Of these 15,000 apartments, 8,000 are going to be ready by June.
The DDA is expected to start auctioning a bulk of these apartments from the 2Q onwards. The previous auction of 5,238 apartments was held in September 2008, which attracted approximately six lakh applications, although due to some irregularities the physical possession is yet to take place. In addition to this, there are 3,500 apartments that are being built for the Commonwealth Games, taking the number of apartments up to 18,500. These units are expected to be ready by the end of the year. If the complete 18,500 stock is offered during the year this would probably be the largest number of apartments/housing scheme that the DDA would have brought out during any given year. Over the next four years DDA plans to construct and deliver 42,000 apartments, thus easing the housing pressure that the city is currently experiencing.

If the DDA is successful in auctioning these apartments and offering physical possession in a short span of time, the housing problems of the city would be eased to a large extent. This may even lead to capital and especially rental values stabilizing if not correcting in certain locations where the supply is concentrated.

There is also the recent 12,000 acres in Chhattarpur that has been allowed for acquisition by the Supreme Court. The acquisition is not going to be easy as this area has farmhouses, and various illegal/unauthorised constructions. The DDA can expect dispute, opposition and more litigation as it tries to acquire the land in this area. If DDA does manage to acquire the land parcel in a short span of time, this area could see unparalleled growth especially if PPP model is followed as this would allow for faster implementation/execution of work.
This model was seen at work in case of the Commonwealth Games village being developed by a private developer Emaar MGF thus allowing for successful PPP models to exist and to be structured in the future. On the private front, there are several Cooperative Group Housing Scheme (CGHS) in Dwarka that are under litigation and the regularization of these will further add to the supply. Most of the development was restricted to builder floors by contractors and smaller local developers and thus most of the current stock is in the form of smaller developments such as floors, villas, and bungalows. In the recent past various private developers such as DLF, Raheja, India bulls, Parsvanath, etc.
have also started large scale developments across Delhi. DLF received an overwhelming response for its Capital Court I and II which shows that the underlying demand in Delhi is strong for a rightly priced housing product, although certain locations, especially in central and south Delhi, allow for only luxury projects to be constructed due to high land rates. Again, concessions in the form of higher FSI or sops for developers by the government bodies will allow for private developments to be more economical. The author is head, residential, Cushman & Wakefield

Courtesy: HT Estates 20^th Feb 2010

More Info of Real Estate, Real Estate Noida, Gurgaon, Noida, Apartments, Office Space

Log On: -- http://www.zameen-zaidad.com &

New Look of Amritsar

February 19, 2010 Add comment

0 comments Commercia Space in Delhi

http://www.zameen-zaidad.com/ and http://www.propertycafeteria.com

Amritsar: is anticipating increased penetration of organized retailing in the next two to three years with a large inventory build-up of mall space distributed approximately across 10 malls. There are around 1012 upcoming hotel projects identified in and around the city, which are expected to augment the existing hotel room inventory across segments by 800-1,000 rooms over the next two to three years.

For more information about Real estate, real estate India, Indian real estate, real estate project in Amritsar, real estate Agent in Amritsar, property, property investment in Amritsar, property dealer in Amritsar, investment options in Amritsar, new Apartments in Amritsar and many more log on to

Real Estate Development project in Guwahati

February 19, 2010 Add comment

0 comments Property in Gurgaon

http://www.zameen-zaidad.com/ and http://www.propertycafeteria.com

Guwahati: Infrastructure projects in Guwahati include the development of Inter State Bus Terminus (ISBT) at Kathabari, a flyover project on GS Road near Vangagar, an international trade centre, and an athletics stadium at Saru Sajai. Modernisation plan is underway for the Guwahati airport (likely to be completed by 2010). On completion, Airports Authority of India plans to make Guwahati a hub for air connectivity. Guwahati is among 50 train stations identified for development as world-class stations.

The key real estate developments are seen along the Guwahati Shillong (GS) road, with most office space and retail (high street retail and large format malls) activities developed along this corridor. Satellite townships are being planned around Guwahati using the PPP route to accommodate a growing population and ease pressure on the city centre.

For more information about Real estate, real estate india, Indian real estate, real estate project in Guwahati, real estate Agent in Guwahati, property, property investment in Guwahati, property dealer in Guwahati, investment options in Guwahati, new Apartments in Guwahati and many more log on to

KEY RATES THAT IMPACT YOUR HOME LOAN

February 16, 2010 Add comment

0 comments Real Estate in India

The Reserve Bank of India's move to hike the cash reserve ratio (CRR) by 0.75% was aimed at balancing growth and inflation. The CRR is the minimum amount of funds banks need to park with the central bank. It is one of the key values that could directly impact your EMI outflow. Here are a few rates that could directly or indirectly have a bearing on home loan interest rates:

Repo rate

This is the interest rate banks pay on funds borrowed from the RBI. Decreasing the repo rate will increase money supply in the system.

Reverse repo rate

The reverse repo rate is the rate at which the RBI borrows money from banks. An increase in the reverse repo rate can prompt banks to transfer more funds to the RBI. This causes money to be drawn out of the banking system.

Inflation

It occurs when prices move rapidly in an upward direction. Here your money can't buy as many goods and services as it did yesterday. When food prices surge food inflation sets in. Shortage in supplies has led to food inflation which hovered around 17 percent in mid-January. Cash reserve ratio

It is liquid cash, a certain percentage of the demand and time liabilities that banks have to maintain with the RBI. Bank rate

This is the rate at which the RBI lends to the commercial banks for a short term.

Courtesy:- TOI dt:- 13-02-2010

For more information regarding 4 bhk apartment, apartment in gurgaon, bedroom apartments, buy property in india, commercial complex in india, commercial real estate, commercial space in gurgaon, dealers, flats for sale, indian real estate investment, investment options in real estate, luxurious flats, malls, office space, office space in gurgaon, online real estate, penthouses gurgaon, plots, property consultants, property in gurgaon, property india, property investment, real estate company, real estate developer, real estate gurgaon, real estate in india, real estate investment strategies, real estate market, real estate news, real estate portals, realtors, realty, residence, residential real estate, sell property, shop, villas, Residential Apartment

Visit www.zameen-zaidad.com

www.propertycafeteria.com

INVEST IN REALTY, SECURE YOUR FUTURE

February 16, 2010 Add comment

0 comments Commercia Space in Delhi

Vasundhara and Vaishali: Emerging realty hubs

A veteran journalist often advised his junior colleagues to buy a house before they were 40 and another before they retire! Vivek Shukla tells you why

Noted journalist and writer, late V S Upadhyay, who played a key role in acquiring land from DDA for Delhi-based journalists in Gulmohar Park and was also responsible for enrolling many journalists as members of a cooperative society which built this posh area in South Delhi, used to tell his junior colleagues that they must purchase a house before reaching the age of 40. And if possible, they should buy another house before they retire!

While giving this sage advice, he also used to say that those who do not get any pension after retirement must buy another property before retirement as it would give them social security in the later stage of their life.

The thinking behind this advice was that if you have more than one property, you could rent out one and earn a good amount. Naturally, those who invest in property cannot be losers and it is advisable to invest in realty. This is especially true for all those who do not get pension benefits.

Samir Jasuja, CMD of PropEquity, says that property can be a great source of income for your retired life, or in case you loose your job, as many people have done last year. There is no question that property would not help if your investment were made at the right time. “Those who invest in realty should have a longer period of time to enjoy benefits of appreciation as it is a long-term game. One should not expect miracles in a short span. It wouldn’t make any sense for a 60-yearold to invest in a property to earn rental income as real rate of return would not be profitable”, says Jasuja.

There is also an opinion that if you are thinking of a second property, you should not have any hang ups in investing on the outskirts of your city. With the passage of time, even outskirts become part of a city. You can meet many people in various trans-Yamuna colonies, who will tell you that they came to that part of the city when it was bereft of any worthwhile facilities. After facing hard times for a couple of years, development commenced. And with development, values of their properties went up multifold. That has changed the class character of a large number of people. As rates have really gone up in main parts of the city, one should not mind investing in outer or little unknown areas.

Vijay Jindal, MD of SVP Developers, says that among buyers of his flats in various projects, the number of those who already own properties are pretty high. That is an indication that the present generation knows for sure that investment in property would help their cause when the chips are down.

Anil Makhijani, a realty expert, strongly feels that land can be another option for those looking for a second property with a specific goal. Between land and constructed property, the former is a lucrative option as it is much easier to sell it and the rate of appreciation is also higher. If you live in Delhi, then you should not think twice in buying land in any part of NCR. That would ensure for you enough returns in future.

Realty experts say that those dependent on loans for buying a second or third property should focus on it early in life. For example, one should start thinking on lines of buying a second property before reaching the age of 50. In that case, you would get enough time to shed all loan liabilities before reaching the retirement age. Discussing the purchase of a second or third property, Avinash Aggarwal, director marketing of Orange County, says that if one were to look back at the situation of 15-20 years ago, one would realize that, earlier, people were satisfied after buying one property. “As salaries have gone up over the years, there has been a paradigm shift in the attitude of people in terms of investing in realty. If investors settle for one property earlier, the later generations have been investing in multiple properties,” says Avinash. He is spot on. Now, people are investing in realty with clear-cut thinking that their investment in property would be their source of income in post-retirement life. With higher disposable incomes and more loan options, this thinking is being adopted by a larger number of families.

While there is nothing wrong in investing in properties, realtors caution prospective buyers of properties that they should invest carefully. They must invest in only those projects which are handled by realtors with a proven track record.

Courtesy:- TOI dt:- 13-02-2010

Visit www.zameen-zaidad.com

www.propertycafeteria.com

February 12, 2010 Add comment

0 comments Buy Property in India

Buy Property in India

Of late, Vasundhara and Vaishali are focus of massive real estate construction, not least due to entry of Metro line in the locality, and this has inevitably led to an increase in demand. Bricks Research does a race

    Vasundhara is emerging as a holistic realty hub, developed by Uttar Pradesh Housing and Development Board (also known as Awas Vikas). Its strategic location and proximity to Delhi and Noida have been acting as major drivers leading to development. The place is witnessing extensive construction activity by local builders as well as leading developers. The locality offers ready-to-move-in apartments at affordable prices, compared to Delhi and Noida. Most people working in Noida and Delhi prefer to stay in Vasundhara because of low 'per sq ft' values and its connectivity.
    Vaishali is the other popular locality developed by Ghaziabad Development Authority (GDA). With Metro line slated to enter the locality, property prospects are quite high, local realtors say.
Residential sector:
    Residential segment is on the upswing and there are many multistory apartments under construction. The area is home to educational institutions like Amity International School, Mewar Institute of Law, Jaipuria Institute of Management, Indraprastha Engineering College and Delhi Public School.
    According to Brix Research Value Analysis Report - North India, Issue 3, both Vasundhara and Vaishali saw a stable market beginning April 2009. Continuing on revival path, property markets of both these localities in Ghaziabad, witnessed positive value trends across categories during the last quarter. The soon-to-be released Brix Research Value Analysis Report - North India, Isuue-4, reveals that during the Oct-Dec 2009 period, Vaishali and Vasundhara registered appreciating apartment capital values and stable rental values. Builder floors saw a drop in demand and values during the same period.
Commercial sector
    In commercial segment, Vaishali and Vasundhara have a number of completed and ongoing projects.
    It was found that demand is increasing in commercial sector and once the projects under construction get completed and occupied, there will be further escalation in commercial values, according to Umesh Sharma, a local realtor.
    Commercial sector of Vasundhara and Vaishali witnessed stable office space values in the last quarter. However, capital and rental values of retail space in Vaishali saw positive trends.
    Shopprix Mall and Ansal Plaza are two popular malls in Vaishali. Ansal Plaza, in particular, is popular for factory outlet showrooms. The area has many local shopping complexes to cater to daily needs of residents.
Projects in pipeline
Renowned developers are coming up with residential as well as commercial projects in Vasundhara and Vaishali. Impressions, a residential project named by SG Estate Ltd is strategically located in Vasundhara, on a three side corner location. It includes luxurious 2- and 3-bedroom apartments and penthouses, deluxe specifications, large balconies, modular kitchens and designer bathrooms.
    Other amenities include swimming pool, yoga centre, jogging track with seating spaces, landscaped central garden dotted with flowering plants, earthquake-resistant structures, high-speed elevators and lifts, cable and internet connectivity, adequate power backup, among others. Ajnara India Ltd has launched Ajnara Pride in Sector 4B Vasundhara. It offers 2- and 3-bedroom apartments in the price range of Rs 38 lakh to Rs 54 lakh.
    In commercial segment, Alpha Corporate Tower is the new showpiece coming up in Vasundhara, which offers dedicated office space ranging from 600 sq ft to 6,000 sq ft. It will cater to the adjoining areas of Vaishali, Indirapuram as well. It is equipped with facilities like car parking, in-house cafeteria and health club, waiting lounge, power backup and other such services.
Outlook
    Ghaziabad is developing fast and there are many residential, commercial and infrastructure developments taking place in the city. Indirapuram, Vaishali, Kaushambi, Vasundhara are some of the preferred localities in the city. While Indirapuram tops the list, Vaishali and Vasundhara come a close second on the preference list of buyers.
    Compared to Vasundhara, Vaishali is seeing more development on real estate front. And, its proximity to Anand Vihar ISBT and Noida are add-ons for Vaishali. Although, there are new projects being launched in Vasundhara, the demand is not so significant. According to Ravinder Kumar, a city-based realtor, "The proposed Metro line to Vaishali has boosted real estate prospects in the area. Vasundhara, on the other hand, is not witnessing any significant developments on real estate front. Indirapuram and Vaishali are the preferred locations in Ghaziabad." "However, since Vasundhara is close to Vaishali, it is likely to benefit from the Metro line, by default," says Kumar.

Courtesy: - Times Property DT: - 06-02-2009

More Information of: -- Real Estate, Real Estate India, Real Estate Gurgaon, Real Estate Apartments, Office Space

Log on: --- http://www.zameen-zaidad.com

& http://www.propertycafeteria.com/main.aspx

NOIDA: a green haven in the making

February 12, 2010 Add comment

0 comments Commercial Space in Gurgaon

Noida authority has developed a number of green belts, gardens and parks to give further impetus to a pollution free environment and has set upon itself the task of making Noida a green haven, says A K Tiwary

    Noida, one of the largest planned industrial townships, is developing at a rapid clip. Noida is bound by NH-24 bypass to the North beyond which is Ghaziabad Development Area; to the East is the Hindon river, beyond which is Greater Noida Industrial Development Area; to the West is the Yamuna, beyond which are lie Delhi and Haryana, and to the South is the confluence of the Yamuna and the Hindon. Unlike many other industrial areas, infrastructural facilities in this area preceded its development. Noida authority has developed a number of green belts, gardens and parks to give further impetus to its pollution-free environment and has set upon itself the task of making Noida a green haven - it has even coined a slogan for the purpose, "Green Noida, Clean Noida". Now, work is on to free the city from the interminable traffic jams. Constituted under the UP Industrial Area Development Act, 1976, Noida has emerged as a planned, integrated, modern industrial city, well connected to Delhi through a network of roads, national highways and the ultra-modern DND flyover - it also offers inter-road linkages to all parts of the country. Spread over 20,316 hectares, with many sectors fully developed, Noida offers a pollution-free and high standard of living. The place is highly supportive of industrial enterprise with a unique infrastructure providing matchless facilities.
    Mohinder Singh, chairman and CEO of Noida Authority, says that Noida is the industrial fairyland of the nation, far from the dirt, grime and pollution of National Capital Region. Noida has been planned on the gridiron concept and employs state-of-the art technology in engineering, urban planning and architecture. Significantly, it conceptualizes needs of a fast developing city of the future. The action plan and approach compares well with international standards and is aimed at providing rapid momentum to growth of industrial sector, both in Uttar Pradesh and the rest of the country. "We are vowed to uninterrupted power supply in Noida. A number of power stations will be installed very soon," says Mohinder Singh. He also says drinking water supply is in abundance in Noida with 90 tube wells, 5 rainy wells, and 25 overhead tanks and 850km-long water pipeline network carry about 2 lakh kilolitres per day (KLD) drinking water per day, ensuring per capita availability of drinking water at 225 liters. In addition to this, the 49,400 KLD Ganga water project has already started. Plans are also afoot to make use of rainwater by means of modern indigenous technology to supplement availability of water to meet future requirements.
As far as basic infrastructure is concerned, Noida roads are smooth and wide and help in movement of traffic with ease and comfort. NH-2, Link Road, Kondli Road, Noida-Greater Noida Expressway, Noida-Agra-Mathura Expressway (under construction) and eight-lane DND flyover with a toll bridge (already operational), further provide ease and comfort in traffic movement into and out of the city. The DND flyover with toll bridge is a unique project. Noida authority is maintaining 400km in different sectors of the city. Long internal roads and 125km-long boundary roads make intra-city road traffic much smoother and comfortable.
    With a view to keeping the city green and clean and to maintain ecological balance in Noida, a project to develop parks in 165 acres of the land comprising 95 acres green belt and 150km roadside tree
plantations is on the anvil. Two sewage treatment plants are also in final stages of construction and ought to be operational soon. These two plants, when operational, are planned to produce 7 crore liters of water per day and are intended to irrigate the green belt areas and parks in the various sectors of Noida.
    Help will also be extended to create an underground water supply facility, and there is also a project to supply water at cheaper rates for irrigation purpose. Mohinder Singh says that about 35.66 % area or 4,49,456 sq meter of land has been earmarked in Noida for residential purposes while the rest is meant for group-housing projects.
    For the working class, engineers and employees of different establishments, a project is being introduced, which will involve construction of 31,035 residential units in duplex, HIG, MIG, LIG and EWS categories. For sheltering those below poverty line, under the "Shramik Kunj" project, 4,952 one-room set houses have been constructed. Plans are also afoot to develop a senior citizens' residential complex.
    Noida has earmarked 7, 10,000 sq meter land for different industries last year. There are 6,014 manufacturing units here. With an investment of about Rs 12,710 crore rupees, these industries provide employment to over 94,736 people. To help establish industries, many industry-friendly and simplified measures have been introduced. As a result, now building plans conforming to bylaws need not wait for approval construction. Non-interested entrepreneurs can exercise the option of post-allotment "surrender without tears".
    The requirement of seeking permission for mortgaging "fully paid" industrial plots, have been done away with. At the time of transfer of industrial property, the requirement of getting clearance certificate from other departments of UP government has been removed. The Noida Software Technology Park (STP) ranks second in the country in terms of export turnover and the Infotech Park (ITP) on 100 acres with state-of-the-art infrastructure housing about 152-200 units, have turned Noida into an IT hub.
    Noida Export Processing Zone (NEPZ), a 100% export oriented unit, has acquired and developed over 5,888 hectares of land until now. During the current
year, three residential sectors and two industrial sectors have been developed. In the decade ahead, 3,400 hectares of land will be acquired and developed, out of which 430 hectares have been earmarked for residential, 620 hectares for commercial, 650 hectares for industrial and 200 hectares for institutional purposes. Another 300 hectares of land have been earmarked for development for recreational purpose, which will include an entertainment park and a centre for musical and cultural activities. Another 125 hectares of land will be utilized for creation of road transport facilities, including a bus terminal.

Courtesy: - Times Property DT: - 06-02-2009

More Information of: -- Real Estate,Real Estate India, Real Estate Gurgaon, Real Estate Apartments

Log on: --- http://www.zameen-zaidad.com & http://www.propertycafeteria.com/main.asp

SOME TAKERS AT LAST FOR OFFICES SPACE

February 10, 2010 Add comment

0 comments Property in Gurgaon

BANKS TO REVIEW TEASER HOME LOAN PLANS IN MARCH

After negative absorption in the first three quarters of '09, the CBD micro market recorded absorption of 5,352 sq m in the last quarter Now is the time for occupiers to lock in leases at prevailing low rentals in the commercial prime city market, where future supply is relatively eased out.

The CBD micro-market recorded net absorption of 5,352 sqm in the fourth quarter of 2009 as compared to negative absorption in the first three quarters. The exodus of occupiers towards cost-effective suburban locations came to a halt primarily due to correction in prices, according to Market update -- 4Q09 by Jones Lang LaSalle Meghraj Research.

Significant correction in rental pricing resulted in large-scale transaction activity in the SBD (primarily Jasola). Gurgaon also recorded many IT and commercial leases during this quarter, many of which were expansions. Rents in the NCR further depreciated to reach their lowest in the past two years, which also encouraged corporate to lock in leases at existing rents. This led to a slight increment in net absorption level in the NCR from the previous quarter.

Non-IT tenants, especially those from the banking, financial services, telecom and manufacturing sectors, continued to be active. A few IT tenants like Wipro and Ericsson also locked in leases at prevailing attractive rentals. The CBD did not witness any new supply addition in the fourth quarter of '09, except for the 5,203 sqm (56,000 sq ft) of refurbished space in Connaught Place area. Meanwhile, the SBD witnessed the completion of DMRC IT Park with builtup area of 330,000-sq ft (30,658 sqm) in East Delhi, leased out entirely to the Royal Bank of Scotland (RBS).

The total commercial office stock in the SBD stands at 4.70 million sq ft (437,388 sqm). Owing to the substantial leasing activity, the vacancy rate in the SBD declined from 24 per cent in the third quarter to 21 per cent in Q4.

Asset performance: In Q4, the decline in rentals continued to slow down across most of the markets, with Grade A office space rentals in the CBD declining by an average 2.7 per cent quarter-on-quarter to Rs 200-230 per sq ft per month. Rents in the SBD also softened marginally this quarter, witnessing an average correction of 6.7 per cent quarter-on-quarter to Rs 140 per sq ft per month. The softening of rents in the CBD and SBD was primarily driven by exodus of occupiers to cost-effective locations within Gurgaon.

12-month outlook: The rental decline has softened, paving the way for rental stability in 2010. However, the report says there's likelihood of short-term correction in the first half of 2010 as landlords compete to attract incoming demand. This is also the right time for occupiers to lock in leases at prevailing low rentals in the prime city market, where future supply is relatively eased out. However, the excessive supply expected in the suburbs with poor pre-commitment will continue to aggravate the vacancy rates in the area and put further pressure on rents and sales prices.

Courtesy: - HT DT: - 06th Feb. 2010

For more about real estate and Indian real estate log on to http://www.zameen-zaidad.com

February 10, 2010 Add comment

0 comments Commercial Space

The country’s top lenders today said they would review the future of fixed-cum-floating rate schemes in March.

The limited period offers, which have come to be known as teaser rate schemes, are due to end by March 31.

“We will review it (special home loan scheme) sometime in March and see what kind of (credit) offtake has taken place, what kind of liquidity we have, what is the view on lending to various sectors and where we think the cost of funds is heading,” State Bank of India Chairman O P Bhatt said at the Business Standard Banking Round Table. He added that the effort would be to keep interest rates down, but if it hurt the bank, then rates would have to go up.

ICICI Bank Managing Director & CEO Chanda Kochhar and Axis Bank Managing Director & CEO Shikha Sharma said the lenders would review the rates closer to the expiry date.

The Reserve Bank of India had earlier expressed concern on the teaser rate schemes and asked banks ensure proper due diligence while extending these loans.

There is expectation in the market that the schemes will end, as the RBI had tightened liquidity in the system by increasing the cash reserve ratio, the proportion of deposits that banks set aside, by 75 basis points to 5.75 per cent.

SBI, the country’s largest lender, had pioneered the fixed-cum-floating rate scheme, with interest rate in the first year fixed at 8 per cent. In the second and the third year, the rate is fixed at 8.5 per cent and then moves to a floating rate from the fourth year. Others who had criticised SBI’s scheme then came out with similar products.

Axis Bank’s Power Advantage Home Loan scheme and ICICI Bank’s special offer came with a fixed interest rate of 8.25 per cent for the first 24 months.

A senior SBI executive said liquidity would be the key determinant. And, if RBI raised policy rates, the bank would have little room to continue the scheme. Last week, Bhatt had said SBI had an excess liquidity of Rs 75,000 crore. With Reserve Bank of India (RBI) deciding to hike CRR by 75 basis points in two stages by February end, this will impound Rs 36,000 crore from the system. Punjab National Bank, which is nearly half the size of SBI, had said the CRR hike would soak up the bank’s liquidity by around Rs 1,800 crore. HDFC Bank had said it would be impacted to the extent of Rs 1,500 crore.

Courtesy:- BS dt:- 04-feb-2010

For more info log on to http://www.zameen-zaidad.com

Gorgon’s new realty triangle

February 7, 2010 Add comment

0 comments Real Estate in India

& http://www.propertycafeteria.com/main.aspx

Three new roads have opened up – Golf Course Road, Golf Course Extension and Sohna Road – to unprecedented real estate development. They are all emerging as prime residential and commercial areas.
Brix Research
charts their route

Gurgaon has witnessed some premium developments along the Golf Course Road. Golf Course Extension is a comparatively new locality. Sohna Road has also witnessed a mix of residential and commercial developments. After the global economic slowdown, prices have not risen significantly. They are more or less stable. Vitul Sharma, a local realtor, says: “In localities like Golf Course Road, prices have been least affected. During slowdown period, the number of transactions had dropped. Now the number of queries has started picking up and market should shape up well in coming days.”
    Any locality abutting any major sports facility, like a golf course, is always at a premium. It ensures a fine view for all times. Realizing this potential, DLF Group launched several of its premium developments like Aralias and Belaire on this stretch. While Princeton, Carlton and Westend Heights had already been launched, its true attractiveness as an end-user destination really came with development of Road No. 9 from Sikandarpur to Golf Course Road. The extension of this road to connect to Sohna Road further opened up the area to development.
Golf Course Road, Residential
    Today, most of the residential developments taking place at Golf Course Road are in the luxury homes segment. Sector 55 and 56 already have a large number of cooperative group housing societies, which has created a critical mass of population on this stretch. The DLF properties of Princeton, Carlton and West end Heights, too, are now populated. The new stock coming up here is these luxury apartments of 3 or 4BHK (bedroom, hall and kitchen) of approximately 1,500-2,500 sq ft area, each with a price tag upwards of Rs 1. The add-on facilities like servant room and study attract higher prices as the area of the apartment increases to 2,200-2,500 sq ft. Such apartments are in high demand.
    Golf Course Road, being a premium locality with high demand, has started seeing a lot of transactions. Vitul Sharma says, “Since July-August 2009, the number of transactions has increased by approximately 30%.” The rental and capital values have witnessed approximately 10-20% and 30-35% increase respectively. DLF has handed over two of its residential projects, DLF Pinnacle and DLF Icon, for possession. Some of the upcoming residential projects in this area are DLF Park Palace, DLF Belaire and TVI’s Qurina.
Golf Course Road, Commercial
    There are a large number of commercial properties, too, on Golf Course Road, and projects like Global Business Foyer, Paras Twin Towers, Suncity Business Park, Ninex Time Tower and Varitas have already been handed over for possession. Vitul Sharma says, “One can roughly estimate that the availability of commercial space has increased by approximately 30%.” The global economic slowdown led to a 10-20% drop in values of office space. Rental values too dropped from approximately Rs 120 per sq ft per month to Rs 80 per sq ft per month.
Golf Course Extension,
Residential
    Golf Course Extension Road was constructed in 2009. Most of the projects launched along this stretch in 2009 are expected to be up for possession by the end-2012. Some of these projects are Pioneer Group’s Pioneer Park, Emaar MGF’s Emerald Hills, Tata Raisina’s and IREO’s Grand Arch. Most of these are budget luxury homes and are priced at Rs 3,000 to Rs 4,000 per sq ft.
    Golf Course Extension, Commercial:
    In the retail segment on the Golf Course Extension Road, Emaar MGF has launched the Emerald Plaza mall. Unitech has launched two office space projects – Unitech Business Park and Silverstone. The capital prices prevailing in the retail segment and office space are approximately Rs 9,000 and Rs 7,000 per sq ft respectively.
Sohna Road, Residential
    Exit 10 along NH-8 leads to Rajiv Chowk, Mini Secretariat and Sohna Road. Some developers who have come up with residential projects along the Sohna Road are Vatika, Bestech, Vipul and Unitech Groups. Vipul Green was launched at Rs 1,400 per sq ft and now sells approximately at Rs 4,300 to Rs 4,500 per sq ft.
Sohna Road; Commercial
    Most of the commercial development at Sohna Road took place post-2008 when the expressway was completed. Before 2008, capital values in this area were approximately Rs 3,500 to Rs 4,000 per sq ft. Post-2008, when the expressway was completed, prices rose significantly, registering between approximately Rs 5,000 and Rs 6,000 per sq ft. Current values at Sohna Road for retail and office space are approximately Rs 9,000 to Rs 10,000 per sq ft (retail) and approximately Rs 6,000 to Rs 7,000 per sq ft (office space). Some of the commercial developments along this road are Omaxe Wedding Mall, Orchid Business Park, Raheja R Mall, JMD Galleria and Spaze Platinum Tower.
    The Haryana Urban Development Authority (HUDA) is currently undertaking several development works including storm water drainage, water supply, roads development and connection to sewerage networks in these areas. Good connectivity to airport and better infrastructure has added significantly to the appreciation of values in this realty triangle after 2008.

More Info. Of: - http://www.zameen-zaidad.com/dlf-second.aspx

Courtesy:- Times Property dt:- 06-02-2009

Emerging destinations

February 7, 2010 Add comment

0 comments Residance

Residance

National Capital Region is seeing a flurry of development activities which will throw up new locations where residential units will come up at a feverish pace throughout the decade of 2010-19, says
Prabhakar Sinha

The decade 2000-09 saw development of areas like Dwarka in Delhi; Sectors 49, 50, 51, 52, 53, 64, 65 and 93A in Noida; Indirapuram, Vaishali and Vasundhara in Ghaziabad; Golf Course Road and Sohna Road in Gurgaon. Similarly, a number of new locations will come up as new hubs of realty action in the decade of 2010-19.
Besides this, a number of areas, which have already emerged in the last decade as alternate residential destinations would mature and become hot destination in this decade. Some of these locations are Narela in Delhi, Sector 93 in Noida, Crossings Republik and Raj Nagar Extension in Ghaziabad, Greater Noida, Golf Course Extension and Sohna Road in Gurgaon and Neharpar in Faridabad.
DELHI The biggest push in the availability of residential units in NCR will come from Delhi itself. So far, Delhi did not see high quality construction of residential units by private developers as Delhi Development Authority (DDA) was the sole developer in the region. But, as new Master Plan 2021 allows private developers to construct apartments in Delhi, the place will witness new developments where apartments will have modern facilities and amenities like swimming pools, gyms, lifts, marketing complexes and security systems.
    According to Samir Jasuja, founder and CEO of Prop Equity Research, the new Master Plan will release a total of 9,230 hectare of land for residential development. This is almost 13% of present land size of 70,162 hectare in Delhi. Jasuja says that this would be enough to build 7.80 lakh residential units in the national capital territory.
    Jasuja says the biggest land bank that will be released in the new decade under a new master plan will be in Najafgarh in Southwest Delhi and Brijwasan and Chattarpur in South Delhi. According to one estimate, while in Brijwasan and Chattarpur 4,547 hectare of land will be released, 765 hectare of land will come into the mainstream in Najafgarh.
    Another big land parcel of 4,389 hectare of land will come in Narela. A global realty firm, Cushman and Wakefield (C&W), says that Narela is the third mega-subcity project of DDA in the urban extension and will follow the story witnessed in Dwarka and Rohini. The area will also accommodate integrated freight complex (IFC), including the wholesale trade centre, district centre, metropolitan transport centre and an ISBT. Gurgaon will also have a number of new locations that will come up in the new decade.
    Sectors 102-113: According to C&W, Sectors 102-113 will be the new centre of development. The upcoming northern peripheral road will provide access to Delhi, as will the Metro line. Proximity to existing airport and Reliance's SEZ is expected to transform the location.
    Golf Course Extension: The sector roads are expected to be built soon and a possible extension of Metro line as per the master plan will further enhance connectivity of this location. Being strategically located between Sohna Road and Golf Course Road, the potential for growth is immense in the medium term.
NOIDA
    Expressway (Sectors 93, 128, 134, 151, 119, 120 and 137): These sectors are currently witnessing a slew of construction activities through newly launched projects. The current Metro connectivity, and further expansion of Metro line within Noida and connection to Greater Noida, is expected to make the city more attractive in the new decade. As these projects on the expressway near completion and connectivity strengthens this would become a prime location.
    Kundli: The western peripheral expressway or Kundli-Manesar-Palwal (KMP) expressway and eastern peripheral express or Kundli-Ghaziabad-Palwal (KGP) expressway will make this town a prominent logistical location. Rajiv Gandhi Education City, National Institute of Food Technology, Entrepreneurship and Management are some of the institutes under various stages of implementation within the city, allowing this to become a future educational hub as well.
    Greater Noida: It has emerged as an education city with the operation of Gautam Budh University. It has strong physical infrastructure, which will be further strengthened by multiple expressways planned and currently under execution namely, Yamuna, Ganga and eastern peripheral expressways, in and around the city. In addition to these there is also the possible extension of a Metro line to Greater Noida that will enhance connectivity. In addition, significant social infrastructure is expected to come up here over the next few years like a night safari resort and Formula 1 race track. There is also a possibility of the second airport being located in the vicinity, which will provide further fillip to the city.
    Neharpar: With enhanced connectivity to Delhi, along with FNG expressway to Noida, Greater Noida and South Delhi, this area with a low capital value will emerge as a good residential hub for middle-class people. There is a proposed bypass that will run parallel to the canal going up to Ballabhgarh, which will ensure smooth traffic flow.
    Raj Nagar Extension: Currently, sector roads are being built here, along with a link road connecting NH-58; additionally, the Hindon expressway connecting to Dehradun, is expected to further ease congestion and increase connectivity to neighboring cities. The Metro connectivity to Ghaziabad will also enhance connectivity from this area. This area has one of the lowest capital values in NCR region.
    Crossings Republik: With the construction of a bridge over Hindon river near Noida's Sector 75, access to this new township built over nearly 400 acre of land will improve substantially. In the new decade, this is also likely to emerge as a hot spot in NCR.

More Info.:- http://www.zameen-zaidad.com/greater-noida-real-estate.aspx

& http://www.propertycafeteria.com/main.aspx

Courtesy: - Times Property DT: - 06-02-2009

3 bedroom Multistory Apartments for sale Rs. 5002000 in Sec- 109, Gurgaon

February 3, 2010 Add comment

0 comments Real Estate in India

Type- Multistory Apartments

Sec- 109, Gurgaon

Price – Rs. 5002000*

Description – Raheja Atharva, 3 bedroom Multistory Apartments for sale @ Rs. 5002000

in Sec- 109, Gurgaon , 5 to 7 minutes drive from IGI Airport & Dwarka Housings and within 2 to 5 minutes drive from 150 m Ring Road of Gurgaon, Palam Vihar & proposed Metro Corridor.

"Find recluse from the hustle-bustle of the city at Atharva - an Eco-Friendly haven next to the Delhi-Gurgaon border. Within 5 to 7 minutes drive from IGI Airport & Dwarka Housings and within 2 to 5 minutes drive from 150 m Ring Road of Gurgaon, Palam Vihar & proposed Metro Corridor**, Atharva offers airconditioned luxury homes in various shapes & sizes, with best imported finishes, be it tiles, bathroom fittings or else. With the necessary indulgences of a Private Club, a Swimming Pool, a Gymnasium, Tennis Courts, Spa, Steam Sauna, 24 hrs. power back-up, Modular Kitchen, Hi-tech security system, School and a Shopping Complex, Atharva is where your search for an exclusive luxury home ends. At Atharva, we make sure that most of your memories in life, are happy ones."

You can get more information about this 3 bedroom Multistory Apartments, real estate information, real estate investment options, real estate agents information and information about 2 bedrooms flats for sale, 3 bedrooms flats for sale, 4 bedrooms flats for sale in gurgaon and delhi /NCR and also we provides real estate services like property for sale, project for sale, property investment, buy houses, sale houses, homes buyers, homes sellers and many more

On my web sites like http://www.zameen-zaidad.com/raheja-atharva.aspx and

3 bedrooms Multistory Apartments for sale Rs. 5191000 in Sec- 108, Gurgaon

February 3, 2010 Add comment

0 comments Real Estate

Type- Multistory Apartments

Sec- 108, Gurgaon

Price – Rs. 5191000*

Description – Raheja Vedaanta, 3 bedrooms Multistory Apartments for sale @ Rs. 5191000

in Sec- 108, Gurgaon 9 km from the IGI Airport and accessible from the Ring Road of Gurgaon, 5 km from Dwarka Expressway, 3Km from Rajiv Chowk, close proximity to proposed metro.

Prestige is a by-product when you choose to live at Vedaanta(sec 108,Gurgaon), the most prestigious address this side of town. Located just 9 km from the IGI Airport and accessible from the Ring Road of Gurgaon, Vedaanta is at an ideal distance from the best of both worlds. the complete complex is going to be built over 10.67 acres of land and is going to be a mix of high rise and low rise development.

We offer you a mix of 1,2 & 3 BHK Condominium dwellings in various combinations within an open and a spacious plan setting. Using materials like imported floorings, fittings and finishing’s, Vedaanta is only going to be for the beckoning few who appreciate affordable quality.

We at Raheja care for nature; hence you can rest assured that the landscaping is a predominant part of the complex with maximum condos getting a direct view of the central landscape and pool areas.

You can get more information about this 3 bedroom Multistory Apartments, real estate information, real estate investment options, real estate agents information and information about 2 bedrooms flats for sale, 3 bedrooms flats for sale, 4 bedrooms flats for sale in Gurgaon and Delhi /NCR and also we provides real estate services like property for sale, project for sale, property investment, buy houses, sale houses, homes buyers, homes sellers and many more

On my web sites like http://www.zameen-zaidad.com/raheja-vedaanta-gurgaon.aspx and

OPTUS SAROVAR PREMIERE OPENS IN GURGA

January 28, 2010 Add comment

0 comments Real Estate

4 Bedroom Low-Rise Apartments for sale in Gurgaon sector 65

Sarovar Hotel & Resorts, has launched a premium business hotel Optus Sarovar Premiere, Gurgaon. It is just a few minutes drive from the international and domestic airports. The hotel also enjoys proximity to premium shopping malls and office complexes in the area.

Optus Sarovar Premiere with upscale services and facilities will target the inbound market and domestic corporate segment. The hotel will also serve as an accommodation base for leisure seekers enroot to Jaipur and other satellite towns around Gurgaon and for holidayers to nearby places like Sultanpur bird sanctuary and Sohna etc.

Courtesy: - HT Estates DT: - 23-jan-2010

MALL WAITING

January 28, 2010 Add comment

0 comments Property in Delhi

Property in Delhi

Deferment of mall supply is a necessary measure to bring stability in the retail market, says a report The year 2009 was not the year for malls. Approximately nine million sq ft of expected mall supply was deferred to the future -- a reduction of about 60 per cent from the mall space projections made at the beginning of the year. Of the proposed 44 malls at the beginning of Q1 2009, just about 18 were delivered by the year-end, says the annual retail report by global real estate consultants Cushman & Wakefield.

With an apparent softening of brand/retailer demand, mall supply across the major cities suffered significant setbacks. The highest mall supply deferment was witnessed in Bangalore, which saw almost 80 per cent less than the expected mall supply, ensuring the city maintained vacancy levels at 3 per cent, same as last year.

Jaideep Wahi, Director, Retail Agency, Cushman & Wakefield India said, "This slowdown in mall construction need not be viewed as a negative growth indicator for the retail real estate segment. The current pace is, in fact, expected to help in maintaining a healthier supply to demand equation; especially for oversupplied micro-markets. With high vacancy levels as well as cautious expansion plans of retailers, the deferment of supply is a necessary measure to bring stability in the retail market."

At 1.8 million sq ft, Mumbai witnessed the largest share of this supply, followed by Hyderabad (1.1 million sq ft ) and the NCR (0.9 million sq ft). Hyderabad was also the only city which saw more than 90 per cent of its anticipated mall supply for the year becoming operational. Having witnessed fresh supply of nearly 0.7 million sq ft, Kolkata saw about 65 per cent of its expected mall supply becoming operational by end-2009.

The overall vacancy rate for the major cities as of December 2009 stood at 17 per cent compared to 16.7 per cent on December 2008. Despite a 30 per cent increase in mall stock, mall space availability increased by nearly 50 per cent over the same period last year because of low and prolonged space take-up in many of the new malls. In comparison to previous boom years when new malls would be launched with close to 100 per cent occupancy levels, recent trends have seen malls being launched with much lower levels of occupancy.

In 4Q 2009, the highest level of vacancy was witnessed in the NCR (27 per cent) and Pune (16 per cent), while the lowest vacancy levels were witnessed in Chennai (1 per cent) and Bangalore (3 per cent). With more than a 170 per cent increase in its mall stock over the same period last year, Hyderabad's mall vacancy has increased from 5 per cent to 11 per cent over the periods under consideration. Mumbai, on the other hand, has seen a vacancy decline from 10 per cent to 8 per cent, despite a 25 per cent increase in its mall stock between December 2008 and December 2009.

There was a very real concern about oversupply in the retail property market prevalent throughout 2009, which seemed under control by the year-end.

With rentals and leasing volumes having bottomed out by mid-year, the overall retail property market reached a plateau period during the second half of 2009 that is expected to continue in the mid-term. Though the dramatic fall of rentals (triggered off by a high base effect coupled with the general economic slowdown) was checked around the first half of 2009 and rents began to stabilize thereafter, they continued to remain pressurized due to weak leasing activities in the marketplace.

Micro markets in the NCR, Bangalore and Mumbai (Basant Lok, Indiranagar-100 Feet Road and Colaba Causeway, for instance) saw a 53 per cent to 40 per cent decline in rentals in Q4 2009 over the same period last year. Bangalore's prominent high streets (Brigade Road and Commercial Street) were the only micro markets to post an approximate 10 per cent rise in rentals over last year, indicating the existing demand for premium retail precincts over emergent locations in the city.

Courtesy: - HT Estates DT: - 23-jan-2010

January 20, 2010 Add comment

0 comments Real Estate Funds

4 Bedroom Apartments for sale in Gurgaon sector- 53, in Rs 20720500-30735000*

Type – Low-Rise Apartment

Emerald Hills - Sec 65, Gurgaon

Price – Rs. 7404275*

Description - Emerald Floors Premier, 4 Bedroom Low-Rise Apartments, 20 minute drive to the Delhi International Airport close to the proposed metro corridor, Easy access from Express Highway to the city

The IT Project is located in Gurgaon, the IT hub of North India. It is situated in Sector 35, an industrial area, recently notified as Udyog Vihar-7, due to which additional & wider roads have been approved as per the revised Master Plan.
The project is just off NH-8 and is in close proximity to the upcoming Metro Station & ISBT (Inter State Bus Terminal).

In keeping with the company’s strategy of being recognized as a forerunner in ‘affordable Realty solutions’, MVL India Business Centre is being positioned as ‘Affordable’ IT park. The project targets the growing Indian domestic companies and startups requiring world-class office space at prices that allows them to be competitive in their market.
The project has been conceptualized and designed by renowned Architect firm ‘Neomodern Arch’ from Mumbai.

Highlights

Locational Advantages:

The project is just off NH-8 and is in close proximity to the upcoming Metro Station & ISBT (Inter State Bus Terminal).

Cost Effectiveness:

The project has been conceptualized and designed by renowned Architect firm ‘Neomodern Arch’ from Mumbai.

Silent Features

. Close proximity of the up-coming Metro station and ISBT

· Easy access to the best hotels in Gurgaon

· Revolutionary Hi-VRV air conditioning system with PDP functions

· State-of-the-art communication network · High speed Wi-Fi connectivity

· World class business center

· 100% power backup

· High speed elevators

· Food court/fine dining restaurants

· State-of-the-art gym

· Multi Level Car Parking

· High tech central security system

· Earthquake resistant structure

For more info log on to http://www.zameen-zaidad.com/emerald-plaza-gurgaon.aspx

January 20, 2010 Add comment

0 comments Real Estate

Type – Multistory Apartment

Sector-53, Gurgaon

Price – Rs. 20720500-30735000*

Description DLF The Bellaire, 4 Bedroom Apartments, Close proximity to the DLF Golf Links, 12 KM from IGI Airport, 5KM from Ifcco Chowk, 6 KM from Rajiv Chowk,

DLF, one of India's premier developers launches their new project 'The Bellaire'. Located in Gurgaon, it is only a short walk away from the splendid DLF Golf Course. The project comprises of 3 and 4 bedrooms, centrally air-conditioned, ultra luxurious apartments in a five block complex.

Surrounded by sprawling greenery, Bellaire nestles in the cocoon of nature. Part of the prestigious Phase V of DLF City, Belaire conforms to Zone V regulations of seismic resistance. State of the art security systems ensure the safety of residents. With unique amenities like modular kitchen, adequate parking and integrated club facilities including indoor, outdoor sports & entertainment with mini home theatre and recreational facilities. Belaire is an unique opportunity for both home and investment purpose.

Sector 53, Gurgaon, walking distance from the DLF golf course, 20 minutes drive from the IGI airport, 5 to 7 minutes drive away from the DT and Metropolitan shopping mall near IIFCO Chowk, 2.5 km from Bristol Hotel.

Specifications

Living/ Dining/ Passage/ Lobby

Floor Imported marble

Wall Acrylic emulsion paint on POP punning

Ceiling Oil bound distemper

Bedrooms

Floor Combination of one or more Imported Laminated wooden flooring / marble / vitrified tile

Wall Acrylic emulsion paint on POP punning

Ceiling Oil bound distemper

Kitchen

Wall Ceramic tiles up to 2'.0" above counter and oil bound distemper in the balance area

Floor Combination of one or more of Vitrified Tiles / Ceramic Tiles / Marble/Stone.

Counter Granite / Marble

Fitting / Fixtures CP fittings, Double bowl SS sink, Exhaust fan.

For more info log on to http://www.zameen-zaidad.com/dlf-belaire.aspx

GREEN SEZ IN NOIDA

January 18, 2010 Add comment

0 comments Commercial Space in Gurgaon

The 3C Company has taken an initiative to lead Noida’s real estate to yet another level by developing a Green SEZ in Noida. Krishna Kumar Mangalam reports

Concerns about climate change have serious implications on real estate sector. But at the same times, it is an opportunity to developers with expertise and experience to build state of-the-art green buildings along sustainable models.

The coming decade will see development of large townships and special economic zones with fresh infrastructure, which puts minimal burden on natural resources. Leading the bandwagon of SEZ development in Delhi NCR is corporate like DLF, Unitech, The 3C Company, Parsvnath, among others. The SEZ were so designed as to be self-contained with their own infrastructure and support services.

In fact, in the coming days, SEZs will be the major supplier of office space. Anshuman Magazine, CMD of CB Richard Ellis, South Asia, says, The demand for office space is expected to improve in Noida, mainly towards the second half of 2010, with a gradual revival in economy. As a result, construction activity is likely to regain pace. Noida has an efficient infrastructure and good connectivity with Delhi, supported by DMRC, which will give further impetus to growth. Noida will emerge as a prominent destination for commercial and residential real estate in the future.

The downfall of global economy in 2008 and its repercussions on Indian economy took a toll on the real estate business, which continued till the first half of 2009. Lack of capital forced realty majors to amend their business plans and some of these even abandoned their SEZ plans. Only those survived, which were well-planned and developed according to the needs of the corporate.

Nikhilesh Singh, assistant VP of JLLM, says, The drive to develop SEZ is triggered by the fiscal sops and benefits extended to realty players. Riding on tax exemption, investment in SEZ seems a safe route.

If we map the SEZ growth, Noida’s office space has become one of the most sought-after destinations in Delhi-NCR, on account of its Noida Special Export Zone (NSEZ). With large scale investment in the IT and BPO industries, NSEZ ushered in an export era for the region. Unlike other SEZs, which are being developed in Delhi NCR, NSEZ will be a Green SEZ, which will be designed in a manner that will enable it to reduce GHG emissions.

Officials of the 3C Company say they have constructed three Platinum rated LEED-certified green buildings Green Boulevard and Patni Campus in Noida, and Wipro Campus in Gurgaon and have taken initiative to lead Noida’s real estate to yet another level by developing a Green SEZ there. The move comes much before the government decided in its draft proposal to make all new and existing SEZs green. Christened as Oxygen Boulevard, this notified SEZ will cater to IT and ITeS industry and is being developed on a 25-acre plot on Noida-Greater Noida Expressway in Sector 144. The SEZ already has over 2 lakh sq ft of ready-for business space and 5 lakh sq ft of ready-for-fit-outs. Construction is in full swing and the project is expected to be operational by the end of the first quarter of 2010.

The developer is confident of obtaining a LEED Gold rating for Oxygen Boulevard SEZ as well. Vidur Bharadwaj, director of 3C Company, says, Oxygen Boulevard would address the ever-growing demand for office space in Delhi NCR. The level of awareness for green buildings is much higher today, with corporates taking it as a good investment option. Going forward, there will be a larger demand and greater focus on development of energy-efficient buildings. This is our first project in SEZ segment and we are sure the project will be an epitome in quality construction and high on energy-saving features, and become a benchmark for other projects in the country.

Unbeatable green features: Multiples blocks have been built to have passive sun-shading devices. The project comes with multiple support facilities like double-insulated walls, while the roof of the building will halt solar heat coming into the building directly and will enhance cooling inside, saving at least 33% on air-conditioning costs. The state-of-art SEZ will have buildings with area of 2,00,000 sq ft to 5,00,000 sq ft. Emphasis has been put on providing extra features in server room and UPS rooms where heat generation is high. These buildings, while retaining their separate individualities and identities come together as a single complex, which share common facilities and amenities. The complex is so planned that these buildings form interconnected and semi-enclosed landscape spaces. Light Shelves will be provided for diffused natural lighting. The upper ground or the deck level is about 9 acres of vehicle free green area. The three-side open Oxygen Boulevard SEZ plot has a wide road with 5 acres green belt. This SEZ will surely help stimulate world-class manufacturing capabilities in India. The project also has a location advantage of being strategically located in Sector 144, along the main Noida-Greater Noida Expressway. The project therefore, enjoys good connectivity. The developer is also planning to develop service apartments.

Having developed 12 million sq ft of office space and currently developing Green projects worth over Rs 8,000 crores, officials of 3C Company say that Green Boulevard project is the world’s largest Platinum-rated LEED certified green building in the Shell and Core category.

Courtesy: - Times Property dt:- 16-01-2010

FACADES...THEY ARE TALKING!

January 18, 2010 Add comment

0 comments Commercial Space

Building facades may get more expressive, even interactive. The Videocon building exterior done up in one-way vision vinyl may have just marked the beginning, says Namrata Kohli

The Videocon building on the national highway is quite a showstopper. As part of a landmark deal in the OOH (out-of-home) industry, Videocon has branded the entire exterior of DLF’s Ship Building in Gurgaon (visible from National Highway 8), using one-way vision self-adhesive vinyl.

Suddenly, building facades have become prime focus for advertisers who are letting the buildings do the talking. Given their large surface area, building facades can certainly be used for advertising as well as promotions. They are not only used as a tool to smarten up a building but can also give the building occupier a huge sense of identity and personality.

According to Ravikanth Gauravaram of Navia Asia, the OOH agency that implemented the work on Videocon building, “Location of the building is of prime importance when you do anything like this. The Videocon building was perfect as it is located next to National Highway 8, which sees nearly 800,000 vehicles every day. Moreover, the building facade is visible to traffic on both sides of the road, though anything like this is prohibitive.” He adds that a building wrap costs anywhere between Rs 15-150/sq ft, depending upon the material of the building wrap. Event managers are pitching for more such sites, and selling premium sites at prices that tend to be on the higher side.

Another interesting facade concept is the Bharti Airtel building - again on NH-8, that highlights logo colours of blue and red on its facade. This helps in reinforcing the presence of the occupant firm in an obvious way, as well as brand recall in a subtle way.

According to Arjun Thapar, an architect, the Indian market for building facades is very nascent. “At best, it is just starting off, is all I can say.” He feels that on the flipside, it will also create a new revenue stream for the building owners, which can be used for the betterment of building services. “They could use in upgrade of common facilities like lifts, firefighting equipment, etc, for which, in countries like India, very little if any investment is made available by building owner associations. Of course, this isn’t applicable to DLF-type buildings, which will use it elsewhere, but for the Nehru Place-types, where the offices are owned by several individuals who are supposed to contribute to a kitty - which never happens. Given that poor maintenance of essential services can cause casualties, not just the owners but also visitors as well, this might just help. Also, these can serve to help reduce the glare from the sun. This is a very big benefit in a tropical country like ours where we have succumbed to the glass tower, and built for ourselves huge energy guzzlers just because our architects were unable to create a match for the glass tower. Reducing heat load means recurring cost benefits in air-conditioning.”

One of the first bold installation-facades done in India may be attributed to Charles Correa - for the British Council Library in Delhi.

“Facade remains a major part of any building elevation and its ‘favorable’ impact is essential for end users as well as onlookers,” says Sandeep Singh who owns a project management company. He adds that a building facade is now established as a good value-add to the overall real estate product. “In the current business scenario, almost every developer is trying to implement it in some or other form to their projects but there are only a few good developers who genuinely appreciate and provide the right material to end users. The price variation is such in the facade material that most of the projects (even high selling) limit themselves to the aesthetic aspect due to budget constraints, however it doesn’t benefit the end users in terms of actual energy saving or heat resistivity.” For example, few of the Mumbai-based Grades A developers are known for their world-class building facades, which is a very good practice since the insulation, ultraviolet ray protection and thermal resistivity of these facades provide good amount of satisfaction to end users.”

While Gateway Towers is one of the first iconic buildings in Gurgaon, which has recently transformed itself with branding on the facade, globally, there are many interesting instances of expressive facades. The first movers in this innovation were Las Vegas buildings, which worked very hard to outdo each other to gain maximum footfalls for their establishments. Over time, this trend has come into the office buildings and some landmark examples include the T-mobile headquarters at Bonn in Germany, which has the world’s first transparent media facade on a 300 square meter surface. There are over 250,000 LED’s within the vertical beams capable of playing moving commercials of the brand.

The concept of a facade “alive and active” was already in vogue in the last decade. These examples are of buildings done up in different techniques, technologies (more as installations), to attract consumers or to showcase some specific events. Over the recent years, these have become an integral part of the building facade design. In a store in Los Angeles, there is an interactive and live display of LED lights, which light up as people walk on the interactive walkway in front of the store. The walkway consists of a luminous field of LED lights, with pressure sensors that correspond to lights on the facade. An office building at Singapore was one of the first retrofit interactive facades in Asia. The conventional glass facade was enhanced with 500 full colour LED lights and a high-end LED screen, mounted along the contours of the building. At Kunsthaus Graz (art museum) in Graz, Austria, the building has a matrix of 930 fluorescent lamps, which are integrated into the plexiglass facade of the museum. Each lamp is individually adjustable and this enables animations, graphics display at a speed of 20 frames per second on the facade.

At Potsdamer Platz 10 in Berlin, Germany, the building had roughly 1,800 fluorescent lamps integrated to the facade glass. The computerized system could display animations and graphics making the facade a moving display. At Iluma in Singapore, the tessellated patterns of plastic panels on the facade have fluorescent lamps superimposed on them. This makes the facade light up in different “forms” on different nights.

At the Beijing Olympics, the stadiums for the Olympics marked the largest integrated approach to interactive facade design. The Bird’s Nest is a conventional design but lit from within and outside. The Water Cube facade is made of ETFE (Ethylene Tetraf-fluoro Ethylene), a translucent material which allows more light penetration and decreases the energy costs by 30%.

At the Yas Hotel in Abu Dhabi, the hotel has color changing curvilinear form, sitting atop the hotel towers. The facade consists of 6,000 pivoting diamond shaped glass panels, which are programmable. However, ‘how much is too much’ is the question.

The conservationists rightly argue that facade designers need to realize that if they became very loud in their graphics, they will not only be doing themselves a disservice, but also ruining the city by making it look like a big large untidy bazaar, with everyone shouting out for attention, and getting it in at most a limited way. Thus, the city could look like what a typical mall facade looks like today with far too many sign ages cluttered all over.

A blend of aesthetically appealing and functionally sound facades will not only help users but also cheer up the urban skyline.

Courtesy: - Times Property DT: - 16-01-2010

WANTED: ONE-ROOM FLATS

January 15, 2010 Add comment

0 comments Commercial Space

After missing an opportunity to construct one-room flats in NCR earlier, some realtors are now moving to build affordable homes in places like Gurgaon, Faridabad and Ghaziabad, says Vivek Shukla

Notwithstanding the fact that these flats are not close to golf courses, swimming pools or ridges, there are always enough buyers for such tenements. There is also a strong possibility that the proud owners of such humble flats would not have a great view of the outside world from their balconies. These houses, with no luxury inside or outside, have many buyers. Though some realty firms have come forward and started making one-room flats, others are still not very forthcoming.

Old-timers will recall that there was a time when DDA and GDA used to make one-bedroom flats in a big way. Such one-bedroom flats can be seen in many parts of the capital, as well as in Ghaziabad. Thousand of people live there with their families. It is a different matter that despite a demand in the market, with enough people keen to buy such flats, prestigious real estate firms have almost stopped making one-bedroom houses.

As recently as a couple of months ago, National Buildings Construction Corporation Ltd (NBCC) and Mahaveer Hanuman group together launched their project of one-bedroom flats in Khekhra town on the Delhi-Baghpat Road, around 19km from Kashmiri Gate ISBT. And within one week, all the flats were booked, six times over.

Most of the big-time builders have failed in their duty to provide a decent one-room flat to those who cannot buy big and luxury flats, says Devendra Gupta, chairman of realty advisory, Century 21, adding, “They should also make homes for lower middle-class people. They should settle for less profit. After all, they have some responsibility towards society as well.”

According to M K Pawar, CMD of Mahaveer Hanuman group, response to their one room project was really great and he says that they never imagined their project would generate such a response. “Now, we are allotting flats to people through lottery system,” he says. They are offering one-bedroom flats on an area of nearly 500 sq feet at Rs 6.57 lakhs.

An official of Union Bank, which is providing loans to allottees of this scheme, said that many young working couple, who could not otherwise afford to buy costly flats, have applied in this scheme.

Experts feel that it is high time realtors also made homes for even those who don’t have very deep pockets. The number of such people is huge and realtors must not overlook them. They also say that when one-bedroom houses can be constructed in other metros, it is strange realtors have stopped making them Delhi and NCR.

However, It seems that after missing an opportunity to construct one-room flats in NCR earlier, some realtors are now going to build affordable homes in places like Gurgaon, Faridabad and Ghaziabad.

ILD group managing director, Alimuddin Rafi Ahmed, says that though they have never built one-room flats, now they are in the process of raising such flats in Gurgaon and Sohna for those who cannot pay huge sums to buy their homes.

SVP, another key developer from NCR, has concrete plans for building one-room homes in Ghaziabad and other NCR cities. Vijay Jindal, chairman of SVP group, says that there is every possibility that they would also make one-room homes in a covered area of up to 600 sq feet to 700 sq feet. He also said that there is no dearth of people wanting to buy small and compact flats in NCR. Due to non-availability of flats in this price category, they have been living on in rented house.

Realtor also says that as there are not enough single-room units available in Delhi and NCR, those few that are available have always found ready customers.

Brij Mohan, who works in a Hindi newspaper, said that as his budget is not more than Rs 10 lakh, he had almost resigned to his fate that he could never buy a house, as prices of flats are very high. But once he learnt about the one-room project in Khekhra, he applied at once. There is a great demand for one-room homes in smaller cities too, like Meerut, Gwalior, Vrindavan, Moradabad. “Our one-bedroom flats sold like hot cakes in Meerut and Moradabad. They are priced from Rs 6.5 lakh to Rs 12 lakh,” says R K Arora, CMD of Supertech Group. Omaxe is making small one-room flats in Vrindavan.

A spokesman Omaxe says that they are making one- and two-room apartments in the range of 425 sq ft — 985 sq ft, at a starting price of Rs 7.22 lakhs.

Meanwhile, the Haryana government has decided to come out with a mega-project in Gurgaon, on over 1,400 acre in Sector 58.

There, both Haryana Urban Development Authority (HUDA) and private players like DLF, Emaar-MGF as well as ILD are reportedly planning affordable homes. A Haryana government official says that the cost of the flats and type of dwellings are still to be worked out — but they would be cheap.

In a nutshell, it is very clear that if realty firms make one-room flats, they are sure to find buyers.

Courtesy:- Times Property dt:- 09-01-2010

VIEW OF A GOLF COURSE

January 14, 2010 Add comment

0 comments Real Estate in India

Ajnara India Ltd announced the launch of Saffron Golf View tower, the new addition in its Gen-X project at Crossings Republik, NH24, Ghaziabad. The `Saffron Golf View Tower' will showcase 69 spacious 3 and 4 BHK apartments having two variants ranging between 1425 sq.ft, and 1875 sq.ft at affordable prices. These apartments will be three-side open overlooking the golf course, a lake and architectural fountain. The tower will have several features that make the residential community very different. This tower will be ready for possession in 30 months.

Courtesy:- HT Estates dt:- 09-01-2010

DESIGNED FOR SENIOR CITIZENS

January 11, 2010 Add comment

0 comments Commercial Space in Gurgaon

Buying a home requires a lot of careful planning, especially if you are looking for a place for the senior citizens. ET Realty tells you what’s essential

Most housing societies have a large number of senior citizens, and there is now a growing awareness that they need spaces that are adapted to their needs. Senior citizens have a number of requirements and a normal house or society complex may not be well equipped with the right facilities. Architects and designers point out the importance of building senior citizen friendly spaces, with facilities that will help them lead a healthy, pleasant and a hassle free life.

M H Dalal, CMD, M H Dalal Architects Pvt Ltd, says, "The concept and ethos while designing a home for senior citizen should be such that it allows them to live independently with dignity. There are certain parameters, which need to be considered while designing. A few of the physical parameters are that all edges and corners must be rounded as far as possible, the width of all doors should be adequate enough to make them wheelchair accessible, there should be a sliding bathroom door to facilitate easy movement, wide passageways, grip rails at strategic locations, no level difference in flooring, anti skid tiles, and switches placed at manageable levels, among other things. Besides, the complex should also have good amenities and infrastructure that are unique to such a complex, such as a library, small canteen, physiotherapy clinic instead of a gym, multi-purpose hall, advanced security systems like video door phones, panic buttons, and pendant buttons to help in case of emergency."

Niteen Parulekar, design principal, Niteen Parulekar Architects Pvt Ltd, says, "With age, their bones become fragile and eyesight weakens. So stress should be given on maximum use of natural lights with cross-ventilation, dimmable lights with light switches located in accessible locations along with use of technology like video-door phones, alarm system. An old age home must have easy access to hotline services like hospitals, ambulance in case of emergency."

Citing the demand, many developers too are showing interest and coming with senior citizen-friendly facilities in their projects. R Karthik, senior vice-president marketing, Lodha Group, says, "There is a definite need for designing homes for senior citizens. With regards to safety, there are motion sensors for automatic lighting in bathrooms along with medical facilities to take care of any emergency. For example, we have signed with the Hinduja Hospital to set up medical facility for our projects Casa Bella and Casa Bella Gold at Dombivali."

Kaizad Hateria, GM, Corporate customer relations and sales, Rustomjee, says, " Townships or gated communities are the best for designing homes for senior citizen homes. Providing security through video conferencing, guard on call through videophones, grills at the door, through checks in gated communities while entry and exit of a person in the township will make it more user friendly. At our project Rustomjee Urbania, we have even consulted experts for fixing lampposts such that the height and distance between the two lampposts, avoids the falling of shadows directly on the ground, which will be very helpful for them."

Manju Yagnik, vice-chairperson, Nahar Group, points out that the concept is still market driven. The demand exists but both senior citizens and developers are yet to wake up towards this need. She says, "The facilities enabling wheelchair entry into the lobbies, anti-skid tiles, accessible light points and bells in the house and providing at least one stretcherlift in the normal projects can really help senior citizens in their day-today life. Considering the security, avoiding multiple entries, video door phones along with providing easy shopping, medical and recreation facilities within their complex are necessary."

Talking about the demand and response from the consumers, M H Dalal says, "Senior residences across the world are of different types including adult living, enriched living, assisted living and specialty care. In India, the demand is high for assisted living space, but at the moment, we mainly have the adult living module and we are trying to convince developers to develop some part of their huge projects in the form of an 'oasis' for senior citizens, and have at least 5% of their living spaces designed that are conducive to senior citizen homes. Golden Nest in Pune by Vascon Engineers has been developed and work is going on another project in Bhopal by Aakriti Dwellings Pvt Ltd. The developers in Mumbai too are actively discussing such projects. He strongly feels that there exists a vibrant demand and that entrepreneurs should take development and management of such homes as a business module as is prevailing in other parts of the developed world." With the trend moving towards nuclear families, creating an environment that enables an older person to feel independent and gives them the pleasure of staying in their own house should be the aim of all home design.

Courtesy: - ET Realty dt:- 08-01-2010

NO ORDINARY STUFF

January 11, 2010 Add comment

0 comments Office Space in Gurgaon

Office Space in Gurgaon

If you plan to rent out your place to an expatriate, make sure it is spacious, has a modular kitchen with geyser, clean and spacious bathroom and lots of storage space

Expatriates continue to thrive in and throng India — be they in times when the economy booms, or even during a spell of slowdown. While Delhi and National Capital Region also attract a large number of diplomats with foreign missions based here, other major metros and towns are also not far behind on this score. Apart from diplomatic community, a substantial number of expatriates, right from Sweden to Korea, and from Finland to Thailand, apart from a number of Americans, currently live in India.

As their number swells and multiplies, landlords of well-known areas in Delhi, Gurgaon, and to some extent Noida, are a happy lot as they earn substantial sums through rents from this ever-growing tribe. Though this a cozy arrangement, often landlords are disappointed as expatriates are very choosy and reject an establishment if these do not measure up to their exacting standards with regard to amenities on offer.

Let’s start from the kitchen — expatriates prefer to do their own cooking. Unlike in our country, they rarely have a live-in help. Vikas Sardana of Servotel, which provides fully furnished accommodation to expatriates, says that modular kitchens are a big draw for expatriates. Again, geyser in the kitchen is a must. Before occupying their new home, these foreign nationals see to it that their landlord installs a geyser in the kitchen and the bathrooms. They need hot and cold running water when they cook.

A Delhi-based journalist from Russia says modular kitchen is a must for them. “We refuse to live in a house which does not have a modular kitchen.” He also adds that they hate houses where water overflows in bathrooms and kitchens, and it is difficult to drain it away — they only look for water in taps. The cultural difference in cleanliness between India and the West is wet vs dry.

As far as bathrooms are concerned, they have to be spacious with an exhaust fan to bring in fresh air. They also expect bright lights. A bathroom is just like any other room that makes a home for them. Bathrooms with shower cubicles are also more than welcome. And mixer-taps for hot and cold water in washbasins, whether in the bathrooms or kitchens, are sine qua non.

According to another realtor, bathtubs in master bedrooms are a luxury much valued by westerners. Most of them look at bathtubs in bathrooms more as a place to unwind at the end of the day, with a warm bath serving as therapeutic, to bust stress.

They also prefer fittings like basins/countertops and WCs in cream or white shades. These shades again give the bathroom a sense of spaciousness and airiness. Showers and taps in steel are preferred and the water pressure in the shower must be good. According to realtors, if houses have spacious rooms with good lighting, then they are virtual milch cows for landlords. Also, expatriates are known to prefer big rooms with high ceilings, especially those from the UK.

N Jain, who has been letting out a part of his house in Shanti Niketan only to foreigners for several years now, says that good storage space is something that expatriates look forward to in bathrooms. From a medical cabinet to a towel rack and toiletry, storage is a must. And last but not the least, expatriates also look for full-length mirrors in their rented homes. “I still remember that one of our French tenants left our house early as he claimed the bathroom mirror was the size of a book — not enough for all of his six-feet frame,” Jain chuckles.

And yes, in a first- or second floor house, expatriates prefer to have a park or a ridge facing them rather than a road or a slum, as they love to lounge in their balconies. If your house meets with all these criteria, then be sure that an expat will come knocking upon your door, sooner than later!

Kitchen

Expatriates opt for modular kitchens. Geyser in the kitchen is a must as they need hot and cold running water when they cook

Bathroom

Bathrooms have to be spacious with exhaust fan to bring in fresh air. It is just like any other room that makes a home for expats

Courtesy:- ET Realty dt:- 08-01-2010

FLEXIBLE REPAYMENT OPTIONS

January 8, 2010 Add comment

0 comments Real Estate in India

A WEEKLY ROUND-UP OF SOME BIG-TICKET CITY DEALS NCR

Borrowers must be aware that most lenders offer a variety of repayment options. A flexible repayment scheme helps the borrower select an option that best suits his needs. In essence, it reduces the EMI burden and minimizes chances of default. Here are a few popular repayment schemes: Accelerated repayment

Here, the borrower is allowed to increase his EMIs whenever his income goes up. His payment is apportioned against the principal outstanding that helps clear a long-term debt faster.

When the disposable income of the salaried class goes up with an increment or bonus, they can make accelerated repayments towards their home loans. Making part prepayment helps save on the interest component of the loan.

Step-up and step-down

Step-up loan is tailor-made for borrowers who are in the initial stages of their careers. Here, the EMIs due to the lender vary as the years pass. It is lower in the initial years, and it gradually starts increasing. The lender also sanctions the borrower a greater loan amount, keeping in view his growth potential.

In step-down loans, the EMIs are high during the initial years and come down as the years roll by. This scheme is best-suited to borrowers close to their retirement who may be currently earning good money. But their income levels could drop towards the end of the loan tenure.

Balloon repayment scheme

In the case of this scheme, the borrower has the option of paying a lower EMI in the initial years. Just as a balloon swells at the top, a balloon payment of around 30 to 40 percent of the loan amount must be made in the last installment.

Flexible repayment options might enable you to borrow more since the EMI repayments become convenient. However, borrowers must borrow only as much as is actually required.

Courtesy: - Times Property DT: - 02-01-2010

January 8, 2010 Add comment

0 comments Real Estate

A residential unit, admeasuring 1000 sq yards, was leased in the location of Nizamuddin (East) in New Delhi at a monthly rental value of Rs 2, 20,000 per month. This high-end apartment is situated in comfortable distance from the central business district and secondary business district. This being an owner-built apartment (as against developer apartments) gives end users benefits of old style construction, including spacious lawns, etc. The apartment falls in the South East part of New Delhi and is in line with the current rental values range of Rs 150,000-250,000.

Mumbai

A residential apartment in an under construction project, situated in Lower Parel in Central Mumbai, was sold at approximately Rs 900,00,000 (Rs 25,230 per sq ft). This high-end three-bedroom unit is spread across a plus 3,566 sq ft by a prominent developer and would be ready for possession in 24-30 months. The outlook for Central Mumbai in short to medium terms with respect to capital values remains stable and therefore, while most projects are expected to command capital values between Rs 34,000 and Rs 55,000 per square foot, exclusive projects with specific USPs can see further appreciation.

Pune

A three-bed room unit apartment, admeasuring 1,800 sq ft (approximately), was leased in Kalyani Nagar, Pune, at a rental value of Rs 100,000 per month. Kalyani Nagar is an established residential location within the city and has traditionally seen demand for both lease as well as outright purchase. The location is well established with social infrastructure such as schools, colleges, retail and entertainment options and healthcare easily accessible. The average rental values for high-end apartments in this location ranges between Rs 120,000 and Rs 200,000 per month and this apartment is approximately 16% lower than the average.

Bangalore

A villa, admeasuring 3,500 sq ft on Outer Ring Road, South East Bangalore was leased for approximately Rs 75,000 per month. The villa is situated in a gated community project by a prominent city developer and is also amongst the first few lease transaction within it. The villa is semi furnished, but commands a premium due to the fact that this is one of the few high-end projects that is nearing completion in the region. The project also offers amenities such as club house facility and excellent security. The project is situated conveniently in proximity to large MNCs in and around the Outer Ring Road. Another villa situated in Devanhalli was sold at an approximate cost of Rs 1, 45, 00,000. The villa is spread over a plot of 4,800 sq ft with a built-up area of 3,900 sq ft. This is also situated in a gated community and was ready for possession for the purchaser. The project is vaastu compliant, which forms a key decision factor for end-user purchasers. The location is approximately 40 km from the CBD, is well connected through wide roads and is easily accessible through public transport. The location is especially strategic as it is close to the new Bangalore Airport and also has a few prominent office projects in and around the area.

Courtesy: - ET DT: - 01-01-2010

Buy / Sell Property in Faridabad

January 1, 2010 Add comment

0 comments Real Estate

Book Your Dream home In KOLKOTA In Affordable Prices

Since real estate developing at a rapid pace in the surrounding areas of Delhi & NCR, Faridabad is too experiencing a considerable growth in this sector. During last few years Faridabad has grown up unexpectedly in Real Estate Field. Most of the renowned Builders are developing their projects there. A lot of visitors are showing interest in buying property in Faridabad. Some of the projects are:

Type- Multistory Apartments

Sector 78, Faridabad

Price - Rs. 47, 25,000*

Description - Triveni Oxygen, 4 Bedroom multistory apartments for sale @ Rs. 47, 25,000* in Sector 78, Faridabad, 25km from Greater Kailash II. , 8 KM from Mathura road, 9 KM from Railway station, 27 KM Nehru Place, 4 KM from proposed Expressway for Noida & Greaternoida, 21KM from Noida. 5 min. drive from Delhi-Badarpur border, Adjacent to sec – 79 commercial hubs.

Type- Multistory Apartments

Sector 87, Faridabad

Price - Rs. 26, 00,000*

Description – Sai Park - I, 2 Bedroom multistory apartments for sale @ Rs. 26, 00,000* in Sector 78, Faridabad, A 3km. flyover has been commissioned between Delhi and Faridabad. This will ease traffic bottlenecks at Badarpur. Ease of access to Shopping Malls/Cineplexes/ and other family entertainment and picnic spots such as Badkal Lake and Suraj Kund. Adjacent to famous SAIDHAM temple that runs a free Charitable Eye Clinic, Homeopathic Dispensaries, Blood Camps, and Yoga and Meditation Camps, METRO connectivity to South Delhi, and various Industrial/Commercial centers like Mohan Co-operative Area, Okhla Industrial, Nehru Place, Lajpat Nagar Areas, Nehru Stadium, and Central Secretariat, to name a few.

For more info log on to http://zameen-zaidad.com/faridabad-real-estate.aspx

January 1, 2010 Add comment

0 comments Real Estate

Come home to Horizons at Unworldly City. Sprawled over 8 acres of magnificently landscaped greens in New Town, offers homes to suit individual lifestyles. Designed to afford privacy, cross ventilation and make the most use of natural light. The condominium runs along a beautiful l green path lined with magnificent water features and elegant garden terraces.

Specifications

Wall finishes Internal - Living / dining / Bed Rooms

Painted in pleasing shades of acrylic emulsion paint

Servant room Painted in oil bound distemper Lift Lobbies

Selected marble / vitrified tiles / granite cladding & acrylic emulsion paint Two, high performance elevators in each core

External Combination of stone & textured paint finish

Flooring Living / Dining Bedrooms Servant's room Lift / Lobbies

• Vitrified tile with wooden skirting

• Laminated wooden flooring

• Ceramic tiles

• Selected granite / marble / vitrified tiles

Kitchen: Flooring Wall Finishes Platform

• Ceramic tiles

• Ceramic tiles up to 2' above working platform, wall in acrylic emulsion paint

• Granite counter with stainless steel sink with drain board & geyser

For more info log on http://zameen-zaidad.com/unitech-horizon-kolkata.aspx

RECOVERY THROUGH LEARNING

December 27, 2009 Add comment

0 comments Real Estate

NOW, BUY PRIME OFFICE SPACE FOR JUST RS 5 LAKH

Retail real estate was the least resilient asset class this year and the correction here ranged from 20 to 40 percent.

AS with all realty segments, malls, too, had a boom year in 2007. Companies were on a recruitment overdrive then, jobs were far more secure, and malls bustled with shoppers. Developers resorted to frenzied construction -- mom-and-pop stores made way for concept malls such as gold souks, wedding and auto malls... the list was endless. Mixed-use developments, housing malls, hotels, offices and recreation facilities, mushroomed. The consumer was king.

Then came the slowdown in 2008 and the party was pooped.

A significant drop in discretionary consumer spending forced retailers to delay expansion. Low absorption, high vacancy levels and renegotiations marked 2009. Most micro markets were faced with oversupply and decline in rentals. Both revenues and profitability touched a new low. Out of all the residential and commercial segments, retail was probably the worst hit by the economic slowdown, with price corrections greater than 30 per cent in both rental and capital values.

In an attempt to bridge the demand and supply gap, many developers put off or cancelled their mall projects. This cap on the launch and completion of retail projects, experts point out, is likely to reduce supply as well as the demand supply gap in the future, thereby aiding the recovery process.

2009: Getting wiser

This year saw the retail sector facing an oversupply situation following a cutback in corporate expansion plans and "overzealous project execution" by developers in 2008.

When the slowdown hit, several developers moved fast to convert planned retail malls into fast-selling residential projects. The oversupply and rising vacancies led to a sharp rental correction.

Some retailers did benefit from the realtors' loss. Lease deeds were renegotiated and incentives handed out, in some cases in the form of rent-free space on the condition that malls were not vacated.

"Retail was seen to be the least resilient, with a long way to recovery," points out Pinakiranjan Mishra, partner and national leader, retail and consumer product practice, Ernst & Young. "Retail rental rates are currently down. Almost all retailers overcommitted on developing retail space, primarily in malls. Their expansion plans were not aligned with fundamentals, and they are now forced to focus on moderating these plans."

Among the worst performing asset classes during the slowdown, the segment saw price corrections ranging from 20 to 40 per cent. Deferred expansion plans and upcoming unsold supply will cause NCR retail space prices to further decrease by at least 15 per cent, Mishra adds.

According to Anuj Puri, JLLM, chairman and country head, Jones Lang LaSalle Meghraj, Indian retail has gone through a decisive learning phase in 2009. There have been corrections in rentals and consolidation, both at the retailer and market levels. Many unsustainable market models were edged off the map.

As for vacancy levels, a report by real estate consultant Cushman & Wakefield says that the average mall vacancy level across major Indian cities showed a marginal increase from 17.3 per cent in the second quarter to 17.5 in the third (July September 2009).

Retail rents in major markets also showed a move towards stabilization, with markets across Bangalore and Chennai along with major locations in Mumbai, Hyderabad and Pune indicating no rental change over the previous quarter. The NCR, however, continued to witness correction in retail rentals.

The NCR also got no new mall supply in the last two quarters. Mall developments measuring 9,30,000 sq. ft, expected to be completed in the second half of this year, were deferred to the first half of 2010 in anticipation of a recovery.

Retailers, extremely cautious about expansion plans, revaluated their existing and planned real estate portfolio. They also continued to renegotiate rentals at prevailing values to attain a more sustainable level.

2010: Year of the survivors

The year ahead will see many retail players consolidating their operations and rationalizing their business models to conform to the emerging consumer dynamics.

While the big winner will be value retail, economic stability will lead to greater buyer confidence and a wider acceptance of prominent brands. Major retail markets in India are likely to witness the first rental upswing around mid-2011, a couple of quarters after the commercial office market scenario improves in the major metropolitan centres. Overall, the year ahead will witness `cautious optimism' and `logical and reasonable expansion' in the retail sector.

"While 2009 was the year that separated the boys from the men, 2010 will be the year for survivors to make a serious bid for the recovery process," says Puri. "Operations will be consolidated; business models rationalized and dovetailed with the newly emerged consumer dynamics. Value retail will be the winning ticket, and we will see the stronger value retail players make calculated plays in key Tier II cities."

High-end retail will show a stronger hand in 2010 as well. There will be a wider acceptance of big brands as returning economic stability infuses buyer confidence into the market. The revenue sharing/minimum guarantee model will become the norm rather than the exception, bringing its prevalence in India closer to international trends, Puri concludes.

Jaideep Wahi, director, agency, retail services, Cushman & Wakefield, points out, "Rents in major cities and markets are expected to maintain stable values in the coming few months. Over 60 per cent of the anticipated supply in the third quarter was delivered, a marked improvement over the previous few months. In all probability, major retail markets in India are will witness the first rental upswings around mid-2011, which will happen after the commercial office markets in the major metropolitan centres improve."

According to Ajay Khanna, MD, DLF Commercial Complexes Ltd (DCCL), the retail market is looking up, propelled by a tailwind. But the current market suffers from paucity of brands and range in merchandise. That needs to be overcome first.

"Going forward, I do not see any new formats emerging," says Mayur Toshniwal, president, retail operations (value formats), Future Group. "The year ahead will be one of cautious optimism. We plan to bring in greater efficiency in larger formats and aid the growth of existing formats. The retail frenzy of 2007 will be missing this year. One will also see logical and reasonable expansion from the retailers' end."

"While retailers would continue expansion and new openings, they will also place strong emphasis on enhancing productivity and profitability of their current operating s," says Saloni Nangia of Technopak. "The `past glory' was really based on the speed of opening doors and increasing presence, at the risk of ignoring the bottom-line.

"The future of retail now is based on profitable operations and systems and each being profitable on its own -- which would form a much stronger business case and increase the attractiveness of the sector."

Anshuman Magazine, CMD of real estate consultancy CB Richard Ellis, South Asia, adds, "The retail real estate market was impacted the most due to retailers facing significantly reduced sales, the economic slowdown and high property rentals across the country.

"However, over the past few months, the retail market has been slowly picking up as consumer confidence is beginning to improve and property rentals have become more competitive. The retail property market will take time to fully recover depending on the economic growth and consumer sentiment."

Courtesy:- HT Estate dt:- 26/12/2009

December 27, 2009 Add comment

0 comments Real Estate Funds

Octagon builders & Promoters Pvt. Ltd. Launches a Township in Dehradun

PEs Plan Rental Funds To Cash In On Falling Realty Prices, Rising Interest Rates

Here is at your chance to own a slice of office property Nariman Point by investing just Rs 5 lakh. The 30-40% decline in property prices (from peak levels), coupled with firming interest rates have resulted in private equity (PE) funds eyeing investment opportunities in real estate rental space. A few fund houses have already begun seeking investment commitments from investors, indicating 16% to 22% as annualised portfolio returns.

PE funds investing in real estate rental space follow a simple investment strategy. These funds are suited for investors who are riskaverse and prefer returns similar to those from fixed income schemes. According to PE industry officials, Milestone Capital Advisors, Xander Real Estate Partners, Indiareit Fund Advisors and an investment arm of Delhi-based real estate company DLF are planning to launch rental yield funds in India.

“Real estate rental funds are launched when property rates are close to their troughs. This helps funds to buy property at lower prices. Moreover, yields of investments increase in a rising interest rate environment,” said Ashish Joshi, managing partner, Milestone Capital Advisors, which raised money for a second fund investing in rental assets.

A ‘rental yield PE fund’ only invests in properties that are either occupied or under long-term lease or rent. In simple terms, the money collected from investors is used to buy out the property from the current owner. Once the property is acquired, the PE fund becomes eligible to receive rent from tenants. The rent portion is restructured or re-negotiated regularly in order to meet the return profile of the investor. The fund (and its investors) gain by way of rent recovery and appreciation in property prices. PE funds, normally, invest in commercial property. The managers route a major chunk of the pool into office properties and the remaining into IT/ITeS parks, shopping malls and warehouses.

“The segment looks good as rentals are likely to go up 10-15% over the next few months. Demand for commercial real estate space will go up as supply has come to a standstill post the economic slump. This will not only improve yield for investors but also increase overall commercial property value,” said Kamal Khetan, vicechairman & MD, Piramal Sunteck Realty.

Rental returns from real estate investments have been traditionally higher in India compared to other Asian countries. This is mainly due to the restrained capital flows and the lack of an organised institutional investment market. According to real estate experts, a sharp correction in rentals during 2008 and first half of 2009 will result in rentals surging over the next few months. The rental market usually reacts to the surge in equity market with a 5 to 8-month lag.

As per industry estimates, Mumbai office rentals have declined significantly over the past two years. Rentals in Nariman Point declined by a maximum of 14% from 2008 peak levels, and currently range from Rs 200-400 per sq.ft. per month. In the IT hubs of Gurgaon and Noida, rentals declined by almost 25% from 2007 peak levels, but have since stabilised. Hyderabad was one of the worst affected, as rentals dipped over 35% from peak-levels.

Investors who want to invest in rental yield funds should re-focus their investment strategies around rental income rather than property appreciation, which has been the case for most investors up till now. However, experts point out that the tax implications of investing in rental yield funds may turn out to be cumbersome.

“Rental yield funds have huge tedious tax implications. Investors will have to pay tax on income generated by way of rental yields. Moreover, expenses are high on such funds and are payable upfront to the fund manager,” said independent financial planner Gaurav Mashruwala. According to Mr Mashruwala, such funds will do well if asset are bought at lower price levels or just after a deep correction.

SPACE ODYSSEY

Fall In Office Rentals across Cities

· Rentals in Mumbai’s Nariman Point are down 14% from peak levels. They currently range from Rs 200-400/sq ft per month

· Powai, Thane & Navi Mumbai have declined 20-30% from their respective peaks. However, rentals in micromarkets like Lower Parel in Central Mumbai are moving up gradually

· Kolkata rentals have slipped 12-15 % from peak levels

· Pune’s Aundh has seen rentals decline by 20-25% from peak levels

· Bengaluru rentals are down 5-20%

· Connaught Place office rentals are down by Rs 110-120 to Rs 240/sq ft

· Chennai’s Mount Road & Nungambakkam High Road are up 15-20% on the rental charts

Courtesy:- 23/12/2009

December 22, 2009 Add comment

0 comments Real Estate

Township dehradun Children play area

Octagon Builders & Promoters (p) Ltd., is dedicated to build a Platform to put all your

Dreams into a beautiful picturesque reality. With a team of committed and broad spectrum minded people into Octagon, is on the path to become one of the most recommended and respected real estate promoters in india in a very short span of time. Our group brings experience, integrity, Knowledge and professionalism to all our customers whether it is for residential, commercial or complete property development needs. and Octagon builders & Promoters Pvt. Ltd. Launches A Township in Dehradun.

Our Spirit: We believe in Integrity, honesty and sincerity. We do not compromise with quality. Our group brings experiences, efficiency, Knowledge and professionalism to all our customers and we guaranteed the customer satisfaction.

Vision: Set to create a landmark in Real Estate World to provided home with matchless quality living.

Extra Amenities

World-class tennis courts is available in Santour City- II Township Dehradun

Fitness centre is also available in this township dehradun

Swimming pool available in this township dehradun

Township dehradun Billiards

Township dehradun Gymnasium

Township dehradun Jogging Track

Township dehradun Walking Tracks

Township dehradun Card room

Each of these provides an enriching health experience that would do a township proud.

Highlights

Free Hold Property in township dehradun

Gated Township with 24/7 Security dehradun

24 Hours Water Supply in this township dehradun

24/7 Professional Estate Management Team on call

Children Play Area & Lawns.

Ample Car Parking

Shopping Complex in township dehradun

Walking Track

Lush green landscape in & around

Club township dehradun

Swimming Pool township dehradun

For more info log on to http://www.zameen-zaidad.com/santour-city-dehradun.aspx

Piyush Group Launches Township Ramneek Vihar Over 25 Acres in Dehradun

December 22, 2009 Add comment

0 comments Real Estate

Ramneek VIHAR Integrated Township has been implemented over 25 acres in the pristine and mesmerizing Doon Valley at the serene foothills of the Himalayas, is replete with facilities like a fully equipped gymnasium, clubhouse, swimming pool, etc. Consumer stores, supermarkets and daily needs shopping area complete the self-sufficiency of Ramneek Vihar residential complex. Ramneek Vihar residential complex was Launched in 2005, the project Ramneek Vihar residential complex was sold out immediately on launch.

Salient Features of Ramneek Vihar Township

Maximum Green Area of Ramneek Vihar residential complex

Ultra Modern Club with Swimming Pool in Ramneek Vihar residential complex

An up-to-date Gymnasium in Ramneek Vihar residential complex

Beautifully Landscaped garden with Water Bodies in this residential complex

Ultra Modern Shopping & Entertainment Hubs in Close Proximity.

Seismic zone IV specifications for all structures

Ultra Modern fire-fighting system to ensure safety for you and your retreat

An urbane Sewage Disposal System with recycling of waste water in Ramneek Vihar residential complex.

For more info log on to http://www.zameen-zaidad.com/ramneek-Vihar-dehradun.aspx

TAX DEDUCTION ON HRA — ASHISH GUPTA

December 18, 2009 Add comment

0 comments Real Estate

Employees generally receive a house rent allowance (HRA) from their employers. This is a part of the salary package. HRA is given to meet the cost of a rented house taken by the employee for his or her stay. The Income Tax Act allows for deduction in respect of the HRA paid to employees. It is to be noted that the entire HRA is not deductible. HRA is an allowance and is subject to income tax. An employee can claim exemption on his HRA under the Income Tax Act if he stays in a rented house. In order to claim the deduction, the rented premises must not be owned by the employee. In case one stays in an own house, the entire amount of HRA received is subject to tax. According to the Income Tax Act, the amount of HRA exempt is the least of:

· The actual amount of allowance received by the assessee in the relevant period during which the rented accommodation is occupied by him

· The amount by which the rent expenditure actually incurred by the assessee exceeds one-tenth of the amount of salary due to the assessee in the relevant period

· 40% of the salary due to the assessee in the period

HOW THE DEDUCTION IS ARRIVED AT

Here is an illustration for the year 2009-10. Assume an assessee gets a salary of Rs 5 lakhs as basic salary and Rs 2.5 lakhs as HRA. He pays an actual rent of Rs 1.5 lakhs. In such a case, the amount of HRA exempt would be calculated as:

· Actual HRA received — Rs 2.5 lakhs

· Excess of rent paid over 10% of salary i.e., Rs 1.5 lakhs less Rs 50,000 (10% of salary) = Rs 1 lakh

· 40% of salary (40% of Rs 5 lakhs) = Rs 2 lakhs

As out of this Rs 1 lakh is the least, it will be allowable as a deduction from salary for the year. The balance HRA of Rs 1.5 lakhs will be subject to tax.

Courtesy:- Times Property dt:- 12-12-2009

PARSVNATH RAISES RS 75 CR

December 18, 2009 Add comment

0 comments Real Estate

GOT A SECOND HOME? KNOW YOUR TAX GAINS TOO

Delhi-based real estate company Parsvnath Developers (PDL) has raised Rs 75 crore by selling 50% stake in a housing project to US-based private equity firm Sun Apollo. Sun will invest Rs 75 crore in the project’s special purpose vehicle (SPV) that will develop Parsvnath’s residential property in Gurgaon. With this deal, Parsvnath has raised Rs 360 crore in the last six months through private placement of shares and stake sale in its various projects. Such fund raising exercise is meant to cut its debt amounting to Rs 1,600 crore by at least half by the end of this fiscal.

Courtesy:- ET dt:- 12/12/2009

December 16, 2009 Add comment

0 comments Real Estate

Shelter is one of the basic human needs and buying a house is generally every household’s dream. These days, keeping in view the rise in income levels, households also look at the option of investing in more than one house property. People buy a second home for many reasons, which, inter-alia , include as an investment for capital appreciation; to use it as a holiday home; to get a regular stream of income by way of rentals; or to diversify their investment portfolio.

Whatever be the reason, an important aspect to be considered at the planning stage is the tax implication of owning and maintaining the second home.

SECOND HOUSE – SELF-OCCUPIED

If an individual owns more than one house property for his use, then under the provisions of the Income Tax Act, 1961 (the ‘Act’ ), any one property as per his choice is treated as self-occupied and its annual value is computed to be nil. The other house property is deemed to be letout and a notional rent as per the provisions of the Act is computed as the taxable income under the head ‘Income from House Property’. In other words, the second house is treated as being rented-out and its estimated rental income is treated as taxable income.

SECOND HOUSE – LET-OUT

If the second house is let-out to a tenant, the actual rent received, subject to certain conditions, is treated as the taxable income under the head ‘Income from House Property’.

DEDUCTION FOR MUNICIPAL TAXES

The taxes paid to the local authority, generally the municipal taxes, are allowed as deduction in the financial year, in which such taxes are actually paid. This is irrespective of whether these taxes pertain to the current financial year or the earlier year. Therefore, an individual should keep a track of the municipal taxes paid and claim this deduction accordingly.

DEDUCTION FOR REPAIR & MAINTENANCE

Further, a sum equal to 30% of the annual value of the house property is allowed as deduction towards repair and maintenance charges. It is pertinent to note that this deduction of 30% is a fixed percentage, irrespective of the actual amount incurred by the individual i.e., irrespective whether an individual incurs more or less amount, he can only claim a deduction for 30% of the annual value of the house property.

INTEREST DEDUCTION

Interestingly, in both the above scenarios, i.e., whether the second house property is deemed to be let-out or actually let-out , the actual interest paid on the housing loan is allowed as deduction . This is contrary to the case of a self-occupied property, wherein the maximum interest on housing loan is restricted to Rs 150,000 p.a., subject to certain conditions.

Hence, investment in house property even if it is a second house, does have its own tax benefits. If one is lucky enough to own more than one house property then s/he can avail of tax benefits mentioned above, in respect to the second house.

Courtesy ET dt:- 03/12/2009

GREEN ALTERNATIVE

December 16, 2009 Add comment

0 comments Property in Gurgaon

Espire Infrastructure Launches assured return for office space in Gurgaon Manesar

An incredibly durable, versatile, sustainable and price competitive form of hardwood flooring, bamboo has become a popular flooring option for many people. Endowed with an eco-friendly edge, the sustainability of bamboo makes it a unique and appealing flooring option especially in today’s age, where green practices have assumed importance.

Extremely strong, attractive, long lasting, and just plain gorgeous to look at and because of its environmentally friendliness, bamboo floors are increasingly becoming a popular choice with architects, interior designers, home-owners and businesses, for uses in homes, offices, hospitals, restaurants, hotels, malls and showrooms and so on. Manju Singh of Worldkids Foundation supporting the governments National Bamboo Mission says, “Bamboo flooring can be used wonderfully as wall panels too. It is as good as wooden flooring and comes at half the price, making it a strong yet cheaper option. The price for bamboo flooring (Maisangboard) ranges from Rs 200- 210 per sq ft, which is a good deal for a green product. It is an ideal choice if you want to have a nice wooden-cottage feeling.”

Bamboo is considered a rapidly renewable source of wood as it grows very fast. It grows back to a mature height in anywhere from three and a half to seven years as against an oak tree that can take more than 120 years to be strong before it becomes suitable to be harvested for wood!

Bamboo floors impart a stunning look to any room and can be adapted to any decorating style. They also come at a reasonable price making it a wonderful option for redecorating on a budget. Moreover, they come in a wide variety as bamboo itself can be dyed into many colours or kept completely natural, finished or unfinished.

An ideal choice to go organic with your decor!

Courtesy:- Times Property dt:- 12/12/2009

December 14, 2009 Add comment

0 comments Real Estate

12% assured return for office space in Gurgaon Manesar

Project Name Spire Edge Gurgaon

Name of Builder Espire Infrastructure

Project Type Office Space

Price As below

Location Gurgaon

The challenges of the new world order of business are very different from those in the past. Forever increasing need for bigger office space. Growing costs of running the office. Rising fuel costs. Water and power shortage. Even the Climate change. All things big and small that are already impacting not only the way people work, but also where they work.

With bitter experiences of the past, Corporate are now increasingly demanding an office that will be relevant in the future. We at Spire World have studied every challenge, variable and opportunity that the future has to offer. The result is Spire Edge - the 1.6 million sq ft eco-office complex theta??S ready for any challenge that future has to offer. Which makes it a perfect investment opportunity in the fastest growing markets of them all - IT Infrastructure. Spire Edge, an investment that will stand tall even when the future turns

Assured returns will be giving to investors as computed on an annual basis, payable monthly after deducting all taxes applicable. Returns shall be applicable and commence only upon receipt of 100% Payment.

Assured return with be given on Part A i.e. Initial Investment Only

Assured returns will be given to investors as computed on annual basis, payable monthly after deducting all taxes applicable. Returns will be applicable and commence only

Any delay in subsequent CLP installments shall result in non eligibility for assured returns on initial 50%

13% assured return for office space in Gurgaon Manesar

14% assured return for office space in Gurgaon Manesar

15% assured return for office space in Gurgaon Manesar

For more info http://www.zameen-zaidad.com/spire-edge-gurgaon.aspx

Tags: real estate india indian commercial space gurgaon delhi noida office residence buy property home loan agents funds

Anant Raj Group Launches Commercial IT Park in Sec – 8, Manesar with assured return for office space in Gurgaon - Manesar

December 14, 2009 Add comment

0 comments Real Estate in India

• Approximately 40000 Sq. Ft area available at Ground Floor.

Your preference for a work culture of elegance and class now has a heavenly address – a fully integrated global technology park located in Manesar Gurgaon. Built over a sprawling lush green 10-acre expanse in the breathtaking Sector-8 Technology Park Complex, Anant Raj Technology Park will house state-of-the-art technology towers and also feature a luxurious, fully-furnished housing complex, full-fledged shopping area, and sophisticated leisure and recreational facilities.

Features

The Design Parameters

• Achieve maximum open spaces for spill over, activity, leisure walks, sports events, cultural congregations, meditation and introspection.

• The entire ground floor in the technology related halls to be used for common amenities and recreation, like cafeterias, gymnasiums, conference halls, travel desks, business centers, spas, meditation and yoga centers, libraries, shopping and sports facilities like the stadium and the amphitheater to hold events.

• Create working spaces that enable maximum daylight, view and natural ambience, minimum travel distances and highly efficient vertical cores. The vertical cores and the elevators to be designed for lowest waiting time and maximum handling efficiency.

• Maximizing use of eco-friendly and energy efficient construction materials.

Manesar... The Plus Factors

• The central landscaping to be interspersed with water bodies, misters, fountains & plazas to create a resort like feel.

• Anant Raj Technology Park will have a resort like working environment.

• Dense plantations and lush green ambience will have

o Joy walks & ambling through breezy tropical gardens.

o Pathways to have a cobbled rough granite stone block flooring.

o Car porches & traffic plazas to have in brush finish granite flooring.

o Abundant and dense plantation in front and along boundary wall.

Shopping Area

Services

Energy Conservation Parameters

• To ensure complete conservation, harvesting and recycling of non renewable resources like water, and energy.

• Use of solar panels and to generate alternate energy as much as possible.

• Use of highly efficient double insulated glass to reduce the incident of heat loads and other harmful rays.

• Insulating all terraces and use of non absorptive reflective materials.

Access and Circulation

• To create separate loops for specific visitors accessing the building and allocating proportionate amount of parking space based on the traffic analysis.

• All three basements to have maximum coverage to achieve one car per 400 sqft of usable space.

• Quick access and exit for basements through 10 m wide ramps at a slope of 1:12.

• Providing two way minimum 10m wide roads and separate car drop off loops for all the buildings.

Other Facilities

• 4.2 m floor to floor height to get minimum of 10' to 12' after false ceiling to create esthetical spaces.

• Future provisioning for all power and services requirement.

• Centralized DG sets to cater to full loads and power back up.

• Sensor controlled facade lighting for engineering excellence.

Communications & Networking

• MUX facility on a fiber-optic backbone.

• Vertical shafts connecting at all levels for dish & radio antennas.

• Entire complex on BMS system for Service & Efficient energy consumption.

• Sound system compiled with the PA system.

HVAC System

• Water based chiller system.

• Sensor controls AHU's wired to BMS room for temp. & humidity control.

• Treated fresh air with ozonizers, carbon monoxide filters.

• Parking areas to be ventilated & carbon monoxide filters to be installed.

Facade

• Facade to be an Engineering marvel & finished to world class standards.

• Iconic blending of art & technology that would stand testimony of time.

• Metal canopy on the terrace spanning the towers on all side will create a spectacular display of authority and distinction.

EnsuringTimelines...

To ensure quality and timely deliveries of the project, Anant Raj Group is rapidly expanding its inhouse construction wing and project dedicated management team. A round the clock monitoring of the project and strict adherence to the pert charts is producing state of the art onsite results.

Safety & Security

SAFETY PARAMETERS

• To design the buildings for seismic zone V and take additional factor of safety to compensate for incidental factors.

• To ensure minimum travel distances to all cores, considering factors like interior layouts and furniture and other impediments during an actual emergency.

• To provide helipads and other ingress and exitroutes to the building.

• To make the entire complex handicap friendly.

• Complete security surveillance through CCTV and PA system.

• Complete fire fighting and fire detection system.

For more info: http://www.zameen-zaidad.com/Anant-raj-manesar.aspx

Alliance Nirmaan Limited Launches ResidentialProject CITY ONE in RUDRAPUR

November 21, 2009 Add comment

0 comments Real Estate

PIYUSH GREENS LAUCHES RESIDENTIAL PROJECT IN RUDRAPUR

Abode of gods and land of sages – that s what Uttrakhand is most famously revered as. The state is globally renowned for its adventure, valley of flowers, and crisp Himalayan air. Add to it the lure of religious tourism – the state is home to the Chardhams. The state government is taking all possible steps to promote the state as a religious & adventure tourism destination, with an eye on the industrial growth. The industrial belts and SEZs are being developed in and around Dehradun, Rudrapur, Haridwar, etc to encourage rapid and irreversible overall development of the state.

Rudrapur: A Star Industrial Hub

Rudrapur is a small and a beautiful city in the Udham Singh Nagar District in Uttrakhand and is known as “The Gateway to Kumaon Hills”. Rudrapur’s ascendance as a star industrial hub and a modern urban center has been prompted by economic, demographic and geographic factors, and the centre s tax holiday for industries is giving a boast to this development. These factors have combined in making Rudrapur one of the hottest real estate markets today.

Economic Incentives: -The rush in real estate developments is primarily the result of tax and economic incentives announced by the central and state governments to prompt industrial growth. The latest scramble has been triggered by the declaration of Rudrapur as a non-tariff area for central excise, custom and sales tax duties for a period of 10 years. This span may also be extended by the central government. This has prompted industry players to set up big plants here. And, numerous corporate houses have already gained a foothold here. Companies that begin production before a cut off date and are in the notified industrial areas were offered 100% excise exemption for 10 years, 100 % income tax exemption for the first 5 years and 30% for the following 5 years. They have been offered concessional central sales tax of 1% for 5 years and a capital investment subsidy of 15% with a cap of Rs. 30 lakh. The total expected employment generation would be around 44000 in SIDCUL alone.

This Uttrakhand town in the plains is emerging as one of the fastest growing industrial spots in the country with big Indian and Multinational companies of the likes of Nestle, Tata, Britannia, Dabur, Honda, Bajaj, Parle, Jindal, Mahindra & Mahindra and Voltas, to name a few, investing over Rs. 30000 crore. With around 400 companies expected to start operations in the next one-year alone, Rudrapur is poised to be the new industrial hub of India

For more info log on to http://www.zameen-zaidad.com/city-one-rudrapur.aspx

Tags: real estate india indian commercial space gurgaon delhi noida office residence buy property home loan agents funds

November 21, 2009 Add comment

0 comments Real Estate in India

Building design for earth quake resistance .

Peace tranquility store space in harmony with nature at the Piyush Group Housing Project, Rudrapur not far from the scenic lakes, Nainital.

Our Group Housing project , spread over an area of 6,50,000 sq. ft. on Rudrapur - Falsunga Road comprises over 520 apartments of 2 & 3 Bedroom in 5 Levels.

The project is located 3 kms from the main city in Kicha Road and is opposite to Radha Swami Project.

Salient Features:

Exotic landscaping and open area .

Swimming pool and health club .

Provision for visitors car parking .

Community Hall, Convenience Stores and ATM.

Club House, Party Lawn, Entry Lake and Fountain.

Earthquake resistent building structure

Low rise apartments

Roll of piyush Group In Real Estate:

Piyush group has ventured into various facets of real Estate and construction. In the Indian real estate scenerio, Piyush Group is involved in development of Integrated Township, Group Housing Projects, Commercial Mall....

For More info log on to http://www.zameen-zaidad.com/piyush-greens-rudrapur.aspx

Tags: real estate india indian commercial space gurgaon delhi noida office residence buy property home loan agents funds

SUPERTECH LTD LAUNCHES NEW RESIDENTIAL APARTMENT SUPERTECH GREEN VILLAGE MEERUT IN HAPUR

November 17, 2009 Add comment

0 comments Commercia Space in Delhi

Project Name Supertech Green Village

Name of Builder Supertech Ltd.

Project Type Residential Apartment

Price As below

Location NH-58, Hapur-Buy-Pass, Meerut

Agent Shri Aditya Estates 42470622, 9810445860

Supertech “Green Village” Residency……….Lifestyle Redefined From concept to creation, Supertech Green Village Residency shall be a towering example of intense innovation, astute planning and extra-ordinary implementation. MEERUT, the fastest growing City in Northern India, has been also been adjudged as the best investment location in the NCR region. We are delighted to announce the upcoming of our latest high profile SUPERTECH Green Village Residency here.

These richly endowed luxury apartments will indeed be a unique style statement in itself. With unique features like – The Tallest Towers having G+11 stories in 1st phase, with total land area 25 acres, 7 star Club house, green area-50%, all within the complex We are delighted to announce the upcoming of our latest high profile SUPERTECH Green Village Residency here. These richly endowed luxury apartments will indeed be a unique style statement in itself. With unique features like – The Tallest Towers having G+11 stories in 1st phase, with total land area 25 acres, 7 star Club house, green area-50%, all within the complex. Supertech Green Village Residency will surely revolutionize the living standard of the selected few.

Note: -
1. All cheques/ demand drafts will be in favour of “Supertech Limited” payable at Delhi...
2. First transfer will be free for first six months.
3. The above mentioned rates are applicable for first 100 bookings

More Information at:- http://www.zameen-zaidad.com

ANSAL PROPERTIES & INFRASTRUCTURE LTD LAUNCHES NEW RESIDENTIAL PROJECT THE EUROPA RESIDENCY IN PANIPAT

November 17, 2009 Add comment

0 comments Office Space in Delhi

Office Space in Delhi

Project Name The Europa Residency Name of Builder ANSAL PROPERTIES &
INFRASTRUCTURE LTD. Project Type Residential Apartment Price As Below Location Sushant City, Panipat Agent Shri Aditya Estates
42470622, 9810445860

NOTE: Ø Cheque/Draft to be issued in favour of ANSAL PROPERTIES & INFRASTRUCTURE LTD., payable at Panipat only. Ø Prices are subject to change and the price ruling on the date of booking and acceptance by the company shall be applicable. Ø In addition to the basic price mentioned above, One Covered Car Parking space @ Rs.60, 000/-less inaugural discount of Rs 10,000/- or Rs.35, 000/- less inaugural discount of Rs 10,000/-for one open car parking is mandatory. Ø Timely payment of installment is the essence of agreement. Ø Other terms and conditions of sale would be as per the standard Allotment Letter / Agreement of the company. Ø E.C.C., F.F.C and all other allied charges if applicable will be extra. Ø E.D.C& I.D.C @ Rs165/- Psf is extra. Any further revision in EDC or any Govt. charges / levies will be charged extra Ø The registration charges, miscellaneous charges are in addition to the aforesaid price. (Payable at the time of offer of possession) Ø Down payment rebate @ 12% shall be applicable on 90% amount payable towards basic Sale Price. Ø Preferential Location Charges (PLC) will be extra @ 4% of basic sale price applicable on Ground Floor and 2% of basic sale price on First Floor.

A. Down Payment Plan with 12% Discount

At the time of Allotment 5% Within 45 days from the date of Allotment 90 % Less down payment discount 12% At the time of offer of possession 5%

CONSTRUCTION LINKED INTEREST FREE INSTALLMENT PLAN

At the time of Allotment 5% Within 60 days from the date of Allotment 5% Within 120 days from the date of Allotment 5% Within 180 days from the date of Allotment 5% On Start of Excavation of Tower in which unit is booked 10% On Start of Ground Floor Roof Slab of Tower in which unit is booked 10% On Start of Second Floor Roof Slab of Tower in which unit is booked 10% On Start of Third Floor Roof Slab of Tower in which unit is booked 7.5% On Start of Top Floor Roof Slab of Tower in which unit is booked 7.5% On completion of Super structure frame work 7.5% On completion of brick work 7.5% On completion of flooring & Tiles 7.5% On completion of Internal Plumbing & Wiring work 7.5% At the time of offer of Possession 5%

Payment Schedule of F.F.C/E.C.C/E.D.C/I.D.C @165 per SQ FT

Within 1 Month From the date of excavation 12.50% Within 3 Month From the date of excavation 12.50% Within 5 Month From the date of excavation 12.50% Within 7 Month From the date of excavation 12.50% Within 9 Month From the date of excavation 12.50% Within 11Month From the date of excavation 12.50% Within 13 Month From the date of excavation 12.50% Within 15 Month From the date of excavation 12.50%

More Information at:- http://www.zameen-zaidad.com http://www.propertycafeteria.com/main.aspx

REALTY DEMAND ON RISE

November 7, 2009 Add comment

0 comments Real Estate Funds

Emaar MGF Launches 3/4 BHK Apartments & Villas in Sohna Link Road, Gurgaon

In what could be an indicator of realty sector reviving and demand for residential and commercial real estate bouncing back, over 10,000 potential buyers visited the three-day ET Realty Expo held at Pragati Maidan last week. The biggest catch for the visitors was not just wide option of residential properties, farm houses, plots, office complexes and commercial spaces offered by 42 reputed developers but also the participation of bankers, under one roof.

Inaugurating the expo, Sheikh Danish Ahmed, CMD of Land Asia Infrastructure Ltd said, ‘‘such events sensitise buyers and make them aware of how to go for the perfect choice. Customers have become more educated, but there is a dire need of greater awareness among them. Developers need to be more transparent while dealing with buyers and ensure timely completion of projects. Ahmed added that competitive pricing of the properties combined with quality amenities would largely influence buyers. He said with the new marketing dynamics, the industry is already in the revival mode. LA Infrastructure has launched its flagship Land Asia project, a spa city in Dehradun.

‘‘Property prices are not falling further. As the economy revives, the realty industry will also bounce back. The worst is over,” he said.

Some of the major developers participating in the ET Realty Expo held in association with Times Property were Land Asia Infrastructure, Jaypee Greens, Parsavnath group, Asiana Housing, Purvanchal developers, Unitech, Hero group and SVP group. Two bankers — LIC Housing Finance and SBI also participated in the expo.

Courtesy:- Times Property dt:- 07-11-09

November 3, 2009 Add comment

0 comments Real Estate

DLF Limited Launches DLF - Park Place 3/4 Bedroom Apartments in Phase - V, DLF Golf link, Gurgaon

Project Name	Palm Drive
Name of Builder	Emaar MGF
Project Type	3/4 BHK Apartments & Villas
Price (approx.)	Rs. 87,00,000/- to rs. 4,00,00,000/-
Location	Sohna Link Road, Gurgaon
Agent	Shri Aditya Estates
	47082736, 9810445860

Emaar MGF presents Palm Drive , a community spread across 37.8 acres of land, designed for contemporary living in green sanctuary settings of Gurgaon, one of the commercial hubs of the National Capital Region. Prime Drive offers its buyer with sufficient options to choose between the convenience of stylish premium apartment living, or the opulence and freedom of a beautiful spacious villa and sky terraces. The Premium Terraces and The Sky Terraces are G +18 high rise towers with 3 & 4 BHK premium apartments.

The highlight of the premium terrace towers will be the spectacular four and five bedroom penthouses, which will provide breathtaking views from their landscaped balconies over greens and beyond. The Villas with four or five bedrooms will have generous interiors with high-ceilings and give a liberating impression of spaciousness. Each villa will feature landscaped balconies, roof gardens and pocket gardens, which embellish the exterior with an attractive natural look.

International standard specifications and a wide range of amenities like club house, Golf Course, swimming pool, world class gymnasium, tennis court, Jacuzzi, Multi-Purpose Function Hall, Home Theatre Room etc.

November 3, 2009 Add comment

0 comments Real Estate

Project Name	DLF - Park Place
Name of Builder	DLF Limited
Project Type	3/4 Bedroom Apartments
Price (approx.)	RS. 1,26,56,250/- TO RS. 1,72,12,500/-
Location	Phase - V, DLF Golf link, Gurgaon
Agent	Shri Aditya Estates
	47082736, 9810445860

Set amidst the serene green environs of DLF City, Gurgaon, in close proximity to the DLF Golf Links, DLF group presents their new project 'Park Place'. Offering a choice of 3 and 4 BHK, fully air-conditioned, well appointed apartments, individual units in Park Place comes equipped with fully fitted modular kitchens.

Designed by the best architect in the country Hafeez Contractor, airy and well ventilated flats in an open layout plan is a fine example of the compact design theory. Each apartment is positioned in a manner which guarantees privacy. Most apartments have a view of the structured landscaping below, lush green landscaped courts & lawns embraces nature from all sides. Park Place is a secured gated community with great aesthetic set up.

Located on a prime piece of property with high appreciation rate and good rental return; one of the unique features of this project is, it has a loading of approximately 18% which means it offers same area of land at comparatively lower prices. This makes Park Place a highly sensible and profitable investment option for both home buyers and property investors.

DEWAN HOUSING NET UP 70% AT RS 37.5 CRORE

October 30, 2009 Add comment

0 comments Real Estate

MUMBAI-BASED Dewan Housing Finance Corporation Limited (DHFL) has recorded a 70% growth in net profit to Rs 37.51 crore in the September quarter after posting a 53 % rise in total income to Rs 246.12 crore.

DHFL chairman Kapil Wadhwan attributed the growth to the company’s strong credit appraisal skills which reduce instances of NPAs. “Over the last seven years, we have been consistently growing at 33% CAGR, in terms of our home loan disbursements. We are hopeful of continuing the growth momentum in this fiscal and maintaining a robust 35-40% growth for the next couple of years.” DHFL posted a 93.76 % growth in loan sanctions to Rs 1180.67 crore.

The company’s net profit for the corresponding quarter in 2008 was Rs 22.07 crore in the unaudited results for the second quarter announced on Tuesday. During the July-September quarter, DHFL raised Rs 300 crore through share sale to investors and promoters. It also raised Rs 225 crore through private placement of long-term debentures to institutions and banks. In a statement, the company said, the funds are being utilised to augment long term resources, enhance and strengthen the company’s equity base and for meeting the general business requirements.

Courtesy:- ET dt:- 28-10-2009

DDA ALLOTTEES, TIME TO PLAN HOUSEWARMING

October 30, 2009 Add comment

0 comments Real Estate

The C-DAC report does not indicate any connivance... by any DDA serving officers or those connected with the draw.

Eleven months after they won flats under Delhi Development Authority's (DDA) housing scheme, the more than 5,000 allottees can look forward to becoming owners and occupants.

DDA will start allotting flats -- the draw for which was held on December 16 last year -from the second week of November.

Allotment of the flats was put on hold in January this year following allegations of irregularities in the draw.

The decision to begin allotment was made on Thursday after the Economic Offences Wing (EOW) of Delhi Police declared the draw was not rigged.

The EOW had sent the software report of the draw to Thiruvananthapuram-based Centre for Development of Advanced Computing (C-DAC) for investigation.

The EOW, in its report submitted to Delhi Lieutenant Governor Tejender Khanna on Tuesday said, "The C-DAC report does not indicate any connivance or favoritism by any DDA serving officers or those connected with the draw. C-DAC could not find any evidence that the software had any vulnerability to be compromised nor could they detect any evidence of external tampering."

Asma Manzar, DDA Housing Commissioner, said the report had come as a great relief.

"We will start giving possession of flats to successful allottees from November."

The successful allottees welcomed the development. "Finally our wait is over. I have been paying a hefty interest on the Rs 1 lac loan that I took from a private bank to pay the registration money," said Naresh Taneja who was allotted an LIG flat in Rohini.

Allotment of flats under the 2008 Housing Scheme was put on hold by the Union Urban Development Ministry in January after allegations were leveled against DDA that a cartel of builders had forged documents and availed of loans from banks to get flats under the reserved category. Soon after this, EOW was handed over the case for investigation.

Courtesy:- HT dt:- 30-10-2009

WILL IT LAST FREEZE OF THE MARKET?

October 28, 2009 Add comment

0 comments Real Estate in India

http://www.zameen-zaidad.com

While there are visible signs of a recovery in the real estate market, property price hikes by developers and any increase in interest rates could halt this momentum

The realty sector; which was the worst affected by the downturn last year, seems to be exhibiting early signs of a real estate market recovery. Real estate Price cuts on projects over the last six months and healthy pre-project sales during the festive season seems to suggest that property projects demand, which had all but disappeared in the third and fourth quarter of 2008-09, seems to be trickling back. Real estate Developers are tweaking their real estate business model by launching smaller apartment sizes and playing the volume game to keep property prices low and create property buyers interest. What was helped matters, believes Ramnath S, director; Research, IDFC-SSKI, are factors such as job security and affordability, which are gradually improving, and a lot of companies likely to revise salaries upwards as against a freeze last year. The benign interest rate environment has also helped. Ramnath believes that pay commission hikes will also increase disposable income of government employees.

More Information of: - http://www.propertycafeteria.com and

STORM IN THE MARKET OR A TEACUP?

October 23, 2009 Add comment

0 comments Real Estate in India

Nobody can say with final authority as to what type of realty project or projects will make a dent in the market, says Vivek Shukla

Day: Sunday. Place: Greater Noida Expressway. Time: 2pm. On the way from Delhi to Greater Noida on any Saturday or Sunday, you would find tents of realtors. Staffers of realty companies sit inside these makeshift tents, and there is a huge a stretch of land behind the tents. Naturally, the staffers of realty firms wait for their prospective customers.

However, what strikes any passerby is that in most such tents, either there is nobody or only a few people enquiring about the details of the projects. Given the fact that realty market is reviving after realtors slashed the cost of flats, floors and plots, the above scene looks a little confusing. The pertinent question that arises is whether customers are avoiding projects where construction work has not started at all. The jury is still out on this issue, but some experts on realty matters admit that unlike in the past the new-age customer is very smart and he/she ensures that their investment does not create headache for him/her later. Hence, they thoroughly check the background of realty firms before taking the final call. They even inspect past projects of builders, whose current projects are of interest to them.

If there is even an iota of truth in the argument that prospective customers prefer to book their house in only ongoing projects, where they can see some flurry of activity, then DLF’s Capital Green project in Phase-II is an exception. Booking for the project was commenced on September 22 and on the very first day, over three thousand people made their bookings with earnest money — and for 1250 flats on offer, bookings were three times the figure. This is enough to prove that realty market is improving, even if it is not on fire.

However, Sunil Jindal, CEO of SVP group, has a different take on this matter. “I can tell you from my own experience that more often than not, customers invest in those properties where they find some kind of activity. If they see that work is on, then they invest. I have observed this tendency among customers in our many projects. Let alone the projects of big-time realty firms, selling flat, floor or plot on barren land is not at all an easy task. Selling dream is not possible nowadays as media has exposed the handiwork of a large number of realty firms in cornering huge sums from people after promising the moon,” Jindal says.

R K Arora, CMD of Supertech Limited, takes a different line and says that it is not right to say customers prefer to book their dream houses only when they see some kind of construction work in progress. “If that is the case then all the realty firms will start their projects and easily sell their products. However, the world of realty does not work that way. Fact of the matter is, nobody knows which project can kick up a storm in the market and which one will fall flat.”

Meanwhile, Anu Gupta, director of realty advisory Century 21, says it is a huge task to read the mindset of any particular customer. Of course, some prefer to book their houses where construction work is on. That gives them a huge a sense of confidence. However, the image of some realty firms too counts. “It goes without saying that the image of realty firms like Unitech, Hiranandani, Jaypee, DLF and others have stood the test of time owing to many years of their solid work. Naturally, a large number of discerning customers consider this fact also. Hence, when such companies launch their projects, people go and book their flats and floors there,” Gupta says. Sharing his views, Rajeev Rai, vicepresident of Assotech, says the relationship shared between customers and an established brand is very important as no buyer is willing to compromise on the functionality and quality of the real estate product.

“In the light of this fact I can say the brand value of the developer affects the buying decision of customers. The popularity of a brand results in optimum sales and increased consumer awareness, which is independent of the construction status of that project.” East Delhi based businessman Sandeep Wahal belongs to that category of customers who have booked flats in that builder’s project who promised construction-linked payment plan. That is why he decided to book a flat constructed by a fairly well-known company in Gurgaon. At the end of the day, one thing is absolutely clear that nobody can say with final authority as to what type of realty project or projects will make a dent in the market.

Courtesy:- TOI dt:- 17-10-09

STILL WITHIN REACH

October 23, 2009 Add comment

0 comments Real Estate in India

It is perhaps the best time for a value purchase in real estate with developers going big on affordable home launches. Buyers seeking a steal deal must go home shopping now, says Shri Ram Shaw

Jaago, yeh hi right time, scream property exhibition advertisements in newspapers. So what if residential real estate prices are going up, a majority of the middle class that aspires to own a home is still taking the plunge. The reason being that homes are still affordable, and also thanks due to availability of funds and rising trust in the borrower. SBI, Deutsche Post Bank, ING Vysya Bank and P&SB are funding up to 80-85% of property value.

It is perhaps the best time to look around for a value purchase in real estate. With lower price points in locations that were not earlier within the affordable range, buyers are scouting for good ‘value’ bargains at this time. And with developers going big on affordable home launches, the timing may just be one of the best for buyers seeking a steal deal. The scene has improved with the Reserve Bank of India cutting lending rates to record lows and pumping in unprecedented amount of money into the system.

According to Anoop Pabby, joint managing director of Deutsche Post Bank (home finance), “The economy has improved and the liquidity situation is much better and interest rates have eased off considerably. It is only natural then that home buyers expect the reduced risks to result in reduction in interest rates and relaxation of margin money norms.”

The housing finance company is now funding up to 80% of the property value to most salaried people, and 85% in a few cases, depending on the creditworthiness of the borrower. This is more than the 70% it used to lend a few months back.

According to Anshuman Magazine, CMD of global real estate consultancy CB Richards Ellis (CBRE), value buying is happening mostly in suburban locations, as that is where the current supply is. “Certain pockets in Gurgaon and Noida, where the price used to be Rs 65 lakh to Rs 1.5 crore earlier, have deals to offer anywhere between Rs 35 lakh to Rs 50 lakh today! Developers have reduced the total ticket sizes, adjusted area, price and given amenities. This has got people back and is making them lust for value deals right now.”

According to Navin M Raheja, chairman and managing director of Raheja Developers, “Locations such as Gurgaon, Faridabad, Noida in Delhi NCR are some of the good locations for value buying. Anything that is available between Rs 2,500 to Rs 3,000 per sq ft is the right price depending, of course, upon the location and infrastructural facilities available in the vicinity with specifications offered.

“There are three kinds of value buying that are taking place in the real estate market right now. Ready to move in residential property in and around metros and their suburbs, ready to move in commercial property which is already leased, or generating income and low income and middle income housing ranging from Rs 15 lakh to Rs 40 lakh are the primary types of value purchases,” Raheja adds.

On the other hand, lenders such as ING Vysya Bank, and Punjab & Sind Bank have reduced the margin money requirement to 15-20% from 25-30% towards the cost of the home on their home loans, as they try to tap potential homebuyers. This leads to a borrower investing lesser capital than before. So on a home loan of Rs 25 lakh, a customer would need to pay only Rs 2.75 lakh against Rs 6.25 lakh demanded earlier, where the margin norm is relaxed to 15% from 25%. State Bank of India, which has cut the margin requirement to 20% from 25%, may reduce it by a further 5%.

G S Vedi, the newly appointed chairman and managing director of Punjab and Sind Bank, said, “Interest rates are likely to harden over the next six months with the credit offtake improving and inflation moving into the positive territory. This is the best time for a potential buyer to go home shopping.”

Many of those who were holding out have also decided to make a purchase now as prices have bottomed out. Plus, with many affordable housing launches by developers, the view is that prices are now pocket-friendly at this time. “Prices have reached the bottom and in these prices you are bound to get good appreciation in future. So, if you are buying a particular property now, one is definitely going to feel later that they grabbed a good deal,” said Vijay Jindal, CMD, SVP Group.

But it is best not to overlook the pros and cons before deciding on such value buys. Though the pricing and the product may both look highly appealing, it is best to read the fineprint carefully. This will hold in good stead for the future. As far as dos are concerned, one must set their benchmarks on the price, location, size etc, so if you have been thinking of investing your money in a home, it’s the right time to go deal hunting.

Affordable houses to provide Rs 5,00,000 crore biz opportunity: The affordable housing segment will offer business opportunities worth over Rs 5,00,000 crore as India requires more than ten million houses to be built by 2013-14. According to a report prepared by property consultant Knight Frank on Public-Private-Partnership model on housing in India, an estimated 11.84 million dwelling units are required to be built in India by the end of 2013-14 across all income segments in 37 cities.

The need from the economically weaker section (EWS), lower income group (LIG) and lower mid-income group (MIG) is nearly 90% of the total housing requirement, the report says. “The cumulative task of delivering over 10 million units in affordable housing category in top 37 cities of the country quantifies to a business opportunity in excess of Rs 5,00,000 crore,” the report, prepared for realty body NAREDCO, said.

Commenting on the potential of the segment, the report said though the margins realized from affordable homes are comparatively lesser, the segment offers an opportunity to exploit volume of transactions to derive higher profits. The consultant pointed out that government alone would not be able to meet the pan-India housing requirement, “thus venturing into a joint model with the government can be a practical solution”. The synergies could be utilized towards achieving the central government’s objective of ‘housing for all’ and making India a slum-free nation, the report said.

Courtesy:- TOI dt:- 17-10-09

SUNSHINE BEAUTYIN HYDERABAD

October 21, 2009 Add comment

0 comments Real Estate

REAL ESTATEA DEVELOPERS PARSVNATH SET TO INVEST RS 1500 CR

Splendid Aparna Palm Meadows on outskirts of Hyderabad are AP’s first solar ready homes

This festive season, Splendid Aparna Palm Meadows, a high-end residential project on the outskirts of Hyderabad, is offering a 10% discount on the listed price to its customers for its 100 odd villas. The real estate project, which will be ready for occupation by early next year, has 330 villas in all and is spread across 95 acres.

The gated community, abutting NH 7, has an exclusive club house, swimming pools, gymnasiums, verdant parks and playgrounds, which give it an edge over other residential real estate projects in the same space. Each real estate villa, typically sized between 3,500 and 4,500 square feet, is constructed in Spanish style and is completely automated.

The Rs 500-cr project has also received an environmental clearance from the Union ministry of environment and forests. Splendid Aparna Palm is a 60:40 joint venture between the Splendid Group and Aparna Group. The company claims the real estate project will be the single largest layout in the twin cities.

“The real estate project is set to become a leading project one in South India. We have received around 750 enquiries for the remaining real estate villas. What works best for the customers is the connectivity with the central business area and other social amenities,” said DS Prasad, director of Aparna Constructions.

Each villa in the real estate project costs around Rs 1.8 cr to Rs 3.4 cr.

“Though the rates are above the prevailing rates for new commercial and residential projects, they are worth looking at, given the fact that the possession is immediate,” said George Johnson, city head- Jones Lang La Salle Meghraj.

Real estate Palm Meadows has modern amenities such as fingerprint access doors, acoustic solutions from Bose Corporation and home automation system among others. Another additional feature is an integrated solution for community-based information services to report problems on maintenance issues, access to common facilities and also provides real time billing.

The property villas, which are to be Andhra Pradesh’s first solar ready homes, have facilities for rain harvesting and smart micro-grid for reduction in transmission losses, it is claimed. The real estate project is about 3 km from the outer ring road and 30 km from the new international airport. Educational institutes such as DRS International School, Siva Sivani Public School, Loyola Academy and a host of engineering colleges are in the vicinity of the real estae project. Also, entertainment hubs like Dhola-ri-Dhani, Runway-9 and a multiplex amd commercial complex are easily accessible.

“The resident owners are a mixed bag of professionals featuring industrialists, retailers, traders, defence personnel and others,” said Prasad.

Courtesy:- ET dt:- 19-10-09

October 21, 2009 Add comment

0 comments Real Estate Funds

Realty major Parsvnath Developers will invest about Rs 1,500 cr to complete over 30 ongoing real estate projects in the next two and half years. “Out of 193 million sq ft of our real estate land bank, we have put real estate construction of 42 million sq ft, comprising over 30 real estate projects, on fast track. These real estate projects will be delivered in the next 24-30 months,” real estate developers Parsvnath Chairman Pradeep Jain said.

More information of:- http://www.zameen-zaidad.com and http://www.propertycafeteria.com

‘BEVERLY HOMES’ SECTOR 89 FARIDABAD

October 14, 2009 Add comment

0 comments Real Estate Funds

And http://www.propertycafeteria.com/main.aspx

‘Beverly Homes’, a Ferrous City Phase II project, is being developed by Ferrous Infrastructure & Developers Gurgaon. It is ideally located at Sector 89, Faridabad. Apartments in this project are affordable. Prices for apartments start from Rs16.08 lakhs. ‘Beverly Homes’ is a low-rise floors project. Persons living with their old parents will prefer to buy homes in this low-rise project. Other specialities of this project are – Gated Complex with 24x7 security, Club and Recreational facilities, Creche, Nursery School, Shopping Complex within the vicinity, Landscaped green with Rain Water Harvesting and Dedicated car parking per unit with additional option for covered car parking.

Ferrous Infrastructure & Developers, Gurgaon has grown into a dynamic corporate conglomerate with a market capitalization of over Rs1500 crores with several upcoming townships in cities like Faridabad, Palwal, Dharuhera, Rewari and Ghaziabad. For complete customer satisfaction, the company offers the best possible value at any given price point. They are committed to provide the fastest, most convenient service possible for an individual home, sub-division or even a new community. The company has a vision of perfect lifestyle. They claim to always look for better ways to satisfy their customers. It’s the dedicated team work and total quality management approach that empowers them to build homes of distinction. Their careful planning is as such that employment centres, schools, transportation, shopping and recreation facilities are available within convenient distances from their project/s.

We, Shri Aditya Estate, are one of the leading real estate consultants, established in Delhi and working successfully for more than a decade. We have developed well-embellished websites viz. www.zameen-zaidad.com, www.propertycafeteria.com with a clear concept to showcase all kinds of properties of our patrons for wider publicity of their products for sale/purchase, leasing and renting purposes. Our website – www.zameen-zaidad.com - is displaying the details of project of ‘Beverly Homes’ Faridabad. Homes for sale are available in ‘Beverly Homes’ Faridabad. For best and transparent deals for apartments in ‘Beverly Homes’ project in Faridabad, our experienced marketing executives can be contacted at mob no 91-9650398925, 9810445860, 9911158601, 011-42470622 or email at : info@zameen-zaidad.com. Our company is on the approved list of leading banks/financial institutions for grant of home loans. We have got an experienced team to process home loan applications. For hassle-free home loans for apartments in ‘Beverly Homes’ project in Faridabad, our executives can be contacted at mobile no 91-9990217028, 9810445860, 011-47082736 or email at : info@zameen-zaidad.com.

For more info log on to http://www.zameen-zaidad.com

‘AVALON RESIDENCY’ BHIWADI

October 14, 2009 Add comment

0 comments Commercial Space in Gurgaon

And http://www.propertycafeteria.com/main.aspx

‘Avalon Residency’ project is being developed by Avolon Group. ‘Avalon Residency’ is ideally located on main road Alwar Bye-pass Road at Bhiwadi just one km from National Highway-8. ‘Avalon Residency’ is one of the popular residential developments in Bhiwadi. It is among the well known projects of Avalon Group. The landscape is beautiful with spacious houses. Other special features of the project are – Grand Entrance with splendid fountains, Near Vicinity of highly developed industrial areas of Bhiwadi, Dharuhera and Manesar, Nearby availability of restaurants, schools, hospitals & grocery stores, 2-3 bedroom affordable apartments starting from Rs9.95 lacs, Stilt + 9 towers, 24x7 security and 100% power back-up.

Avalon Group is one of the most successful developers in real estate of the country. Avalon Group has a vast experience of more than 25 years in construction and real estate. The core team of Avalon Group comprises of a highly qualified professional management group. The group has successfully completed many commercial, residential and industrial projects in Delhi, Chandigarh and Gurgaon. Many more projects are being developed at Bhiwadi, Faridabad, Rudrapur, Bhopal, Indore and Dehradun. The group is making use of the most advanced technologies and the latest amenities to provide an ultra modern lifestyle. The promoters of Avalon Group believe in providing affordable homes in their projects.

We, Shri Aditya Estate, are one of the leading real estate consultants, established in Delhi and working successfully for more than a decade. We have developed well-embellished websites viz. www.zameen-zaidad.com, www.propertycafeteria.com with a clear concept to showcase all kinds of properties of our patrons for wider publicity of their products for sale/purchase, leasing and renting purposes. Our website – www.zameen-zaidad.com - is displaying the details of project of ‘Avalon Residency’ Bhiwadi. Homes for sale are available in ‘Avalon Residency’ Bhiwadi. For best and transparent deals for apartments in ‘Avalon Residency’ project at Bhiwadi, our experienced marketing executives can be contacted at mob no 91-9650398925, 9810445860, 9911158601, 011-42470622 or email at : info@zameen-zaidad.com. Our company is on the approved list of leading banks/financial institutions for grant of home loans. We have got an experienced team to process home loan applications. For hassle-free home loans for apartments in ‘Avalon Residency’ project at Bhiwadi, our executives can be contacted at mobile no 91-9990217028, 9810445860, 011-47082736 or email at : info@zameen-zaidad.com.

For more info log on to http://www.zameen-zaidad.com

Realty demand up in third quarter

October 12, 2009 Add comment

0 comments Real Estate Funds

New Delhi: So is the demand for homes getting real again? It seems to be a mixed bag so far, report Neha Dewan & Anand Rawani. While developers are aggressively talking about a spurt in demand, industry experts and buyers attribute this ‘revival’ to the strong nexus between developers and intermediates. SundayET spoke to a cross section of developers, bankers, buyers and realty brokers to assess the ground situation. In fact, the demand in the residential segment for Q3 of this calendar year remained marginally higher. However, leading developers said the growth has been optimistic and some even claimed a 30% rise in demand in these three months. The figures, no doubt, look impressive. But there is a catch. Industry experts and buyers say that this business is mainly the result of a strong developer-intermediary network.

Residential real estate prices are going up. In the last three months, prices of affordable apartments have appreciated by around 10% across the country.

"With improvement in the sentiment in the economy, transactions in the affordable range of residential real estate have gone up. This has made developers to increase prices by 5% to 10% in the last three months," said Anshuman Magazine, MD of real estate consultancy firm CB Richard Ellis, South Asia.

REALTORS RUSH FOR IPO APPROVALS

October 12, 2009 Add comment

0 comments Real Estate

BIG PROPERTY DEALS TO BE SCANNED FOR DIRTY MONEY

Seven Cash-Strapped Realty Cos File Red Herring Prospectus with Sebi to Raise Rs 14,000 Cr

The cash-strapped realty sector is scurrying for an initial public offer (IPO) cover with several builders approaching market regulator Securities & Exchange Board of India (Sebi) to seek approval to rise around Rs 14,000 cr or $3billion.

At least seven realty companies, including Lodha Developers, Sahara Prime city, Emaar MGF and BPTP, have either filed the draft red herring prospectus (DRHP) with Sebi since Friday or plan to do it tomorrow.

“Every company intending to do an IPO is in a hurry to file DRHP, as any delay beyond September 30 will force them to get their books audited again, which might delay the whole process,” a banker handling one large realty firms IPO said. The banker didn’t want him or his client to be named for regulatory reasons.

The audited balance sheet is valid for six months for filing prospectus. In case the company files the DRHP after six months of the annual report, it needs to incorporate audited numbers for proceeding six month period.

Emaar MGF, , a joint venture between Delhi-based MGF and Dubai-based Emaar, Sahara Prime City, Lodha Developers and Kumar Developers filed DRHP with Sebi on Tuesday. Delhi-based Ambience filed the prospectus last Friday, while Delhi-based BPTP, Sriram Properties will likely file tomorrow. BPTP, however, denied it was filing DRHP tomorrow.

Emaar MGF plans to re-launch its IPO to raise 3,850 cr for 10% stake dilution. In addition, the promoter is also divesting 1.17 cr shares to mop up around Rs 400 cr. This means Emaar MGF is looking at a valuation of Rs 38,500 cr, as against a valution of Rs 70,000 cr last times round.

Sahara group’s realty arm Sahara Prime City plans to rise up to Rs 3,450 cr through initial share sale.

Mumbai-based Lodha Developers plans to raise Rs 2,700 cr, while BPTP and Ambience plan to raise Rs 2,000 cr and Rs 1,100 cr respectively. Kumar Developers and Sriram Properties expect to raise Rs 400 cr and Rs 600 cr respectively.

“We will use the IPO funds to retire high cost debt, pay for government license fee for our land and in developing our projects,” says Ambience chairman Raj Singh Gehlot.

Led by real estate companies, the stock markets have been rallying this year with benchmark sensex registering a gain of 75% since January to close at 16,852 on Tuesday.

Several listed realty firms, including DLF, Unitech, Indiabulls Real Estate, Sobha Developers and HDIL, went in for successful qualified institutional placements (QIP) or promoter stake sale rising over $2 billion. The ability of listed realty players to raise funds gave privately-held firms the confidence to test the primary market which saw a slump following the fall of realty firm Emaar MGF’s IPO early 2008.

All listed realty companies were quick to tap the QIP route when markets improved because they were the ones who were most leveraged. Once again they are the ones leading the IPO rush because of the same reason.

Debt-ridden developers’ internal accruals too haven’t picked up significantly as buyers have been slow to return to the property market. Some of the developers are also under pressure from private equity (PE) funds, which earlier invested in those companies, to go public as it would give the PEs an exit route.

Courtesy:- ET dt:- 30-09-09

October 8, 2009 Add comment

0 comments Real Estate

BIG PROPERTY DEALS TO BE SCANNED FOR DIRTY MONEY

The Financial Intelligence Unit (FIU) has decided to scrutinize real estate deals to track money laundering and related crimes.

The country’s anti-money laundering agency has told states to submit monthly data on registration of properties, a state government official, who did not wish to be identified, told ET.

FIU is a central agency responsible for receiving, processing and analyzing information related to suspect financial transactions. The real estate deals in the country often involve unaccounted cash transactions that lead to money laundering, the official said.

Money laundering involves disguising financial assets in such a way that they can be used without detection of the illegal activity that produced them. Through money laundering, a fraudster transforms the monetary proceeds derived from illegal activities into funds with an apparently legal source.

All property registrars have to send data on property transactions above Rs 30 lakh to income-tax authorities as part of the annual information return. The FIU too now wants data on all property transactions.

The agency also needs the data to coordinate efforts with international intelligence to check money laundering and related crimes. If timely intelligence input is available, an international agency can act promptly, the official said.

Since India will soon become a member of the Financial Action Task Force (FATF), it is obliged to keep a track of such transactions that could be used to launder money.

FATF an elite inter-governmental body that has been established by the G-7 group to develop policies to combat money laundering and terrorist financing

The body recommends placing real estate agents entities, under reporting obligations. However, India, which recently amended its anti-money laundering law, Prevention of Money Laundering Act, skipped them even as it brought overseas payment gateways such as Visa and MasterCard, money changers and money transfer service providers and casinos under reporting obligation. Banks, stockbrokers and foreign institutional investors are among the entities that already submit data to FIU on a regular basis.

Courtesy:- ET dt:- 03-10-09

Tags: zameen-zaidad.com real estate property india buy rent sell residential commercial apartments agents brokers dealers flats

October 8, 2009 Add comment

0 comments Real Estate

THREE REALTY FIRMS FILE DRHP; MAY RAISE RS 10,000 CR

The Financial Intelligence Unit (FIU) has decided to scrutinize real estate deals to track money laundering and related crimes.

The country’s anti-money laundering agency has told states to submit monthly data on registration of properties, a state government official, who did not wish to be identified, told ET.

Since India will soon become a member of the Financial Action Task Force (FATF), it is obliged to keep a track of such transactions that could be used to launder money.

FATF an elite inter-governmental body that has been established by the G-7 group to develop policies to combat money laundering and terrorist financing

Courtesy:- ET dt:- 03-10-09

Tags: real estate india indian commercial complex vcomp

October 5, 2009 Add comment

0 comments Commercial Space

Developers spurred into market by bull run in stocks, series of successful QIPs.

Three real estate companies — Lodha Developers, Subrata Roy’s Sahara Prime City and Delhi-based Emaar MGF — each filed a draft red herring prospectus (DRHP) today with the capital markets regulator, Securities and Exchange Board of India (SEBI), to raise in all as much as Rs 10,000 cr from the primary markets, sources said.

While Lodha is expected to raise anywhere between Rs 2,500-3,000 cr from the initial public offer (IPO) of shares in the next three-four months, Sahara Prime City plans to raise up to Rs 3,450 cr in the next few months. Emaar MGF, which aborted its plans to raise Rs 7,000 cr early last year, plans to raise Rs 3,850 cr in the IPO by selling 11.50 million shares, sources said.

Last Friday, Delhi-based developer Ambience Ltd filed a DRHP with Sebi to raise as much as Rs 1,125 cr through an IPO, with a green shoe (over-allotment) option of Rs 168.75 cr. Godrej Properties, which earlier postponed its plans, is also planning to launch its Rs 500 cr IPO in the next three months, where it plans to sell 9.4 million shares to investors.

While Sahara will utilise what is raised from the IPO to develop townships in 99 cities, Lodha and Emaar are expected to use the proceeds towards their upcoming projects.

According to analysts, the recent Bull Run in stock markets and the series of qualified institutional placement (QIP) of shares by property developers has given confidence to private unlisted developers to enter the markets. The benchmark Sensex has risen 33.8 per cent in the past year and nearly 4 per cent in the past month, while the BSE Realty index, which tracks property stocks, has risen over 30 per cent in the past year and nearly 4 per cent in the past month.

A number of developers such as Unitech, DLF, HDIL and India bulls have raised Rs 10,000 cr through QIPs since the beginning of the year. According to estimates, IPOs worth Rs 40,000 cr are expected to hit the markets in the next six months. At least 14 real estate companies are waiting to tap markets with IPOs and QIPs in the next six months.

"The way QIPs have been sold, I do not have doubts about investor interest in IPOs. If companies are good and projects are bankable, they can easily raise funds from investors,'' said Ambar Maheshwari, director of investments at DTZ, an international property consultant

Courtesy:- BS dt:- 30-09-09

Tags: real estate india indian commercial complex vcomp

TRAFFIC AFFECTS RENTALS

October 5, 2009 Add comment

0 comments Real Estate

Many areas in South Delhi along the Outer Ring Road have taken a hard hit owing to development work along the stretch, and rentals have plunged here, ET Realty reports

Long and unending traffic jams, now even on public holidays, are taking the sheen off some of the better-known posh South Delhi colonies, especially those close to Outer Ring Road. This when only a couple of years ago there were hardly any bottlenecks one would encounter along Outer Ring Road. As construction work related to Metro Rail, flyovers, and widening of roads go on and on along Outer Ring Road, this whole activity is forcing high-profile tenants out of areas like Panchsheel park, SDA, Hauz Khas, Mayfair Garden, among others.

New tenants are also avoiding such places in their search for new rented accommodation. Everybody will testify that if one were to drive to any of these places from CP for some work, then one would encounter traffic snarl-ups and jams at Defence Colony, BRT corridor, Asian Games Village, apart from routine heavy traffic. And if it rains or there is some mishap along the way, then it is an extended session on the road. Right from Nehru Place to R K Puram, the stretch is badly affected due to chaotic scenes on Outer Ring Road - and the worst part is nobody can say when things will settle down. Realty expert Anil Makhijani of Mak Realtors presents a very grim picture of the whole scenario. According to him, there used to be a veritable rush of people, always on the lookout for accommodation in areas like Panchsheel Park, SDA, Hauz Khas and Mayfair Garden - even as recently as one-two years ago. "You cannot say the same thing for all these areas now, as well as other colonies close to Outer Ring Road - all because of the massive traffic woes. Those who have no option but to take the Outer Ring Road to reach their office or home suffer the most due to the snail pace of traffic and the daily jams," says Makhijani.

Naturally, in order to save themselves from such a messy situation, many tenants staying in areas close to the dreaded Outer Ring Road have moved to areas like Defence Colony, Lajpat Nagar-3, South Extension, and Safdarjung Enclave in recent months. As for those who have offices in either Gurgaon or Noida, they have either shifted or are thinking of moving houses.

Meanwhile, a realtor says the rentals have never seen such a dip in these colonies. If realtors are to be believed, the average rent in these places has come down by up to 25% to 30%. It is a big fall by any standards. Another realtor Pradeep Mishra of Sainik Estates says there are many residents in colonies all over Delhi who run their household from rental income and they are sure to be affected if they don't get rental income on a regular basis.

Courtesy: - ET Realty dt: - 02-10-09

Tags: real estate india indian commercial complex vcomp

REALTY WATCHDOG WORK IN FULL SWING

October 1, 2009 Add comment

0 comments Commercial Space

Realtors See Red as Draft Proposes Mandatory Registration of Projects

A Draft bill on the much-awaited real estate regulator that will protect the interest of home buyers by ensuring a transparent and healthy real estate sector has drawn the ire of developers.

“The government is trying to play nanny to the home purchaser,” said Kumar Gera, chief of the Confederation of Real Estate Developers’ Associations of India (CREDAI).

According to the draft, a builder will have to register a project with the regulator before he can market the properties. For this, the builder will have to submit a documentary proof of land ownership and the mandatory licenses to the regulator for registration.

Once verified, the entire information about the project will be available on the regulator’s Website that will be accessible to everybody. The regulator will also scrutinize the advertisements and names of brokers.

This process will ensure the legitimacy and the viability of the project, ending the current practice of realty firms launching projects without land ownership or mandatory approvals that leads to buyers getting stuck with inappropriate or illegal projects. “The proposed law will protect home buyers from fraudulent builders,” said Ajit Krishnan, partner for real estate at Ernst & Young.

However, developers don’t agree. “This draft has been prepared by people with good intent but with no knowledge of the nuances of the business,” said Mr Gera, who is also the chairman of Pune-based Gera Developers.

If the proposed regulator gets all the proposed powers, a property buyer would know exactly what he is buying. Importantly, the draft bill prohibits a builder from accepting an advance from a home buyer before the sale agreement is signed. At present, builders force buyers to pay 20-30% of the cost of the property before making a sale agreement.

Many times, a flat allotted by this process is completely different from what the buyer had initially understood from the developer or his broker. “It’s a good idea to have a sale agreement in place at the time of the first installment, which will help both parties know what is on the table,” Mr Gera said.

To make the builder accountable, the draft suggests that he will have to submit a bank guarantee of 5% of the total cost of the project, which will be encased by the regulator if the builder does not complete the project on time or violate a condition that has been agreed upon in the agreement.

In case a builder is unable complete a project on time, the allotted can ask for a full refund of the amount he has paid along with an interest. The regulator will then takes over the incomplete project and appoint another agency to complete the project by encasing bank guarantee and recovering the balance amount from the builder and/or allotters.

The bank guarantee will push up the cost of the project and the provision of taking over incomplete project is ‘completely impractical’, Mr Gera said.

The draft bill also addresses the concern of the home buyer on the cancellation of an allotment. If a builder unilaterally cancels the allotment, he will have to refund the entire amount along with interest. At present, developers generally forfeit a disproportionately-large percentage of the total amount paid by the buyer if the sale deed is cancelled on the buyer failing to make timely payment.

Significantly, the draft bill also mandates the builder to keep a separate bank account for each project. “This will prevent promoters from speculating with the cash collected from customers. However, at the same time, it will also not allow a promoter to take away part of his profit till the project is completed,” Mr Krishnan said.

Courtesy:- ET dt:- 26-09-09n

Tags: real estate india indian commercial complex vcomp

THE BOOM CONTINUES

October 1, 2009 Add comment

0 comments Real Estate in India

Real estate sector in the country will witness a prolonged and robust demand with the top seven cities accounting for most of it, says Prabhakar Sinha

Real estate sector in the country will witness a prolonged and robust demand. According to a report by global realty consultation firm Cushman & Wakefield, the pan-India residential demand for 2009-2013 could be around 7.5 million units and that for office space at 196 million sq ft.

The Cushman & Wakefield India Real Estate Investment report 2009 Survival to Revival Indian realty sector on the path to recovery estimates demand for retail space at around 43 million sq ft while the hospitality sector is expected to see a demand of approximately 6,90,000 room-nights in the same period.

According to Anurag Mathur, MD of C&W, India, though the high growth trajectory of the previous years saw a setback during the global economic slowdown, the inherent strong economic fundamentals, low exposure to debt and state intervention, would help the sector gradually return to the path of recovery and witness robust demand for real estate across sectors.

The pan-India residential demand is estimated to be over 7.5 million units by 2013, across all housing categories, of which 85% is expected in the mid-segment and affordable housing segment, the report says. Of the total demand expected across India, 60%, equivalent to 45 lakh units, would be generated in top 7 cities (see chart). Mumbai is expected to witness the highest cumulative demand of 16 lakh units by 2013, followed by the National Capital Region, which is expected to see a demand of 10.20 lakh units in the same period. That means, on an average, every year there will be a demand of two lakh units. This is far more than the expected supply in the area.

According to the report, the demand for housing units will keep on rising year after year. The total demand for the housing units in all the seven cities will rise from 11.96 lakh units in 2009 to 13.32 lakh units in 2010 and to 14.86 lakh units in 2011. The figure will further rise to 16.63 lakh units in 2012 and to 18.64 lakh in 2013. Bangalore and Hyderabad are expected to see the highest compounded annual growth rate of 14%.

Total office space demand is expected to be 196 million sq ft during 2009-13, of which approximately 42% is expected to be generated in the seven cities.

According to the C&W report, though office market is expected to witness a fall in demand in 2009 with an expected absorption of 27 million sq ft, the period from 2010 onwards will see the markets experience a healthier demand with a compounded annual growth of 19% from 2009-2013. The commercial office market in India is likely to head towards a more balanced demand and supply situation in the next few years. The highest demand in the next five years is expected to be in Bangalore at 34 million sq ft followed by Chennai at 27 million sq ft. This increase in demand is largely due to improving economic conditions, positive market sentiments and growing corporate confidence.

Retail sector is expected to see a demand of approximately 43 million sq ft, mostly concentrated in the seven cities. Bangalore would see the highest demand of approximately 6.8 million sq ft however; Pune is expected to record the highest compounded annual growth of 51% for the next five years. The demand for the hospitality sector is expected to see a surge and is expected to be approximately 6, 90,000 room-nights between 2009-2013. NCR and Mumbai are expected to see the highest demand due to the higher volume of business travelers to these cities. Approximately 35% or 2,42,000 room-nights of the pan-India demand for hospitality is expected to be generated in the top three cities owing to various initiatives taken by the Indian government to promote commercial and tourism activity in these locations.

Mathur says, While the upcoming 2010 Commonwealth Games have been the key demand driver for hospitality segment in NCR, the significant expected rise in office demand in the peripheral locations is also likely to play a role is boosting room-night demand. Factors like increase in urbanization, income growth, relatively high disposable incomes are likely to positively impact retail as well as residential demand in the city.

NCR is expected to see the highest demand in the hospitality sector, owing to its growing importance as commercial and political centre. The maximum surge for demand in hospitality is expected to be witnessed in 2010 during the Commonwealth Games. The retail demand is expected to be 66.6 million sq ft by 2013 and the residential demand in the same period is expected to be approximately 10.20 lakh units. The office space demand on the other hand is expected to be approximately 25 million sq ft.

Mumbai is expected to see the highest demand for residential space of approximately 16.40 lakh units due to the large scale urbanization. The mid-scale and affordable housing in suburban and peripheral areas will be the focus of this demand. However, the demand for office space would be approximately 23.7 million sq ft, which is lower than that in Bangalore, Chennai and NCR. The demand for hospitality in Mumbai is expected to be strong at over 98,500 room-nights, by virtue of the fact that the city is regarded as the financial capital of India and therefore the volume of both domestic and foreign business travelers is expected to grow steadily. Demand for retail is expected to be 6.19 million sq ft.

On the other hand, Pune is expected to see the highest compounded annual growth in retail demand at 51% due to the current favorable demographics. The total expected demand for retail in Pune is approximately 1.76 million sq ft. Office demand in Pune is expected to be 21.7 million sq ft.

Bangalore emerges as a clear preference for sectors like office and retail, whiles it come a close third in the residential and hospitality segments. Bangalore is expected to see the highest demand for office space in 2009-2013 of approximately 34 million sq ft. The expected recovery in the IT/ITeS sector would have a positive effect on the demand in Bangalore, the preferred location for many IT/ITeS companies. The demand for retail sector is also expected to be the highest in Bangalore with approximately 7 million sq ft, while demand for residential is expected to be approximately 5, 70,000 units over 2009-2013, with the highest compounded annual growth rate at 14%.

Chennai is likely to witness the second highest demand for office spaces after Bangalore, of approximately 27.2 million sq ft, by 2013. Good infrastructure, high quality construction and competitive pricing would be the key reasons for the location to see high demand from corporate sector. Hyderabad is expected to witness an office demand of 16.6 million sq ft. The residential demand for Hyderabad is expected to be 2, 90,000 units, and like Bangalore, is expected to see the highest compounded annual growth rate of 14%.

Kolkata is expected to see a demand of 9 million sq ft for office space while retail is expected to be a healthy 4.15 million sq ft. Residential space demand is expected to 2,90,000 units while hospitality demand is expected to be approximately 24,869 room-nights.

Courtesy:- TOI dt:- 26-09-09

Tags: real estate india indian commercial complex

AS REALTY DAWNS, COS PUTS ASSETS ON BLOCK

September 26, 2009 Add comment

0 comments Commercial Space

Commercial Space in Noida

HUL & Mafatlal Industries among Corporate Looking To Earn Rs 400 Cr from
Real Estate Holdings

As Talk of a revival in the real estate sector gains ground and big-ticket deals stage a comeback, large companies with property are looking to make the most of the tide.

A handful of corporate, including Hindustan Unilever (HUL), Mafatlal Industries and a private bank have put some of their real estate assets on the block. The total value of their properties could be in excess of Rs 400 crore.

Said Kaustuv Roy, executive director, Cushman & Wakefield (C&W), a global real estate consultant, “A residential property has a 5% return on investment if it is leased out while the corresponding figure for commercial property is 12-13%. Therefore, it might make sense to sell these assets rather than hold them.”

The private bank mentioned earlier has recently come out with a public advertisement inviting bids for three of its Mumbai properties. Of the three, one is a commercial property spread over 90,000 sq ft while the other two are residential with a total area of 60,000 sq ft. These could bring in as much as Rs 200 crore for the bank, said a person close to the bank.

HUL too has put four of its residential properties in Mumbai on the block, with an estimated value of over Rs 45 crore. While three of these are located in the up market Cuff Parade in South Mumbai, the fourth is in the suburb of Vile Parle in western Mumbai. HUL has been looking at ways to monetize its real estate assets for a while now and has sold some properties recently. The current transaction is being driven by C&W. An email sent to HUL did not elicit a response.

“This is a global phenomenon where corporate invest in real estate when they have surplus capital and monetize it (real estate) when they are in need of funds,” said Amber Maheshwari, director investments, DTZ international property consultants.

Mafatlal Industries, a part of the Arvind Mafatlal group, has also put its 85,000 sq ft property in central Mumbai for sale for which it is hoping to generate around Rs 100-150 crore. An industry tracker said a lot of potential buyers have shown interest.

Courtesy:- ET dt:- 23-09-09

Tags: real estate india indian commercial complex vcomp

‘THE VIEW’ (RAMPRASTHA GROUP)

September 26, 2009 Add comment

0 comments Commercial Space in Noida

‘The View’ residential project has been launched by Ramprastha Group. ‘The View’ project is strategically located in Sector 37 D, Ramprastha City Gurgaon - a township spread over 45 acres of land. Other specifications of the ‘The View’ project are – 0-km from Dwarka Expressway & Metro Station, 15 minutes drive from IGI Airport, right opposite to Reliance SEZ, a premium residential experience of luxurious villas, group housing, penthouse, plotted row houses & town houses, complete with ultra modern amenities like school, hospital, hotel, shopping mall, multiplex, golf club, post office and a temple. ‘The View’ has a great planned infrastructure to boast of.

Ramprastha group is a renowned real estate company, operating in Delhi/NCR for almost four decades. The company has planned and developed many prestigious projects including townships, plotted housing colonies, and a large number of group housing dwelling units. This is the first construction company to foray into building of self-sufficient colonies. Ramprastha group, with its innovative construction techniques and unique craftsmanship, has set inimitable benchmark for its competitors. Ramprastha group’s vision is to create and promote developments that are forward looking, innovative and tailored for specific markets, to promote Ramprastha development - a good place to live, work and enjoy life, to optimize personal development of staff through quality training and establishing and maintaining the highest standards of professionalism and ethics.

We, Shri Aditya Estate, are one of the leading real estate consultants, established in Delhi and working successfully for more than a decade. We have developed well-embellished websites viz. www.zameen-zaidad.com, www.propertycafeteria.com with a clear concept to showcase all kinds of properties of our patrons for wider publicity of their products for sale/purchase, leasing and renting purposes. Our website – www.zameen-zaidad.com - is displaying the details of ‘The View’ project. Homes for sale are available in ‘The View’ project in Ramprastha City Gurgaon-a township. For best and transparent deals for apartments in‘The View’ project in Gurgaon, our experienced marketing executives can be contacted at mob no 91-9650398925, 9810445860, 9911158601, 011-42470622 or email at : info@zameen-zaidad.com. Our company is on the approved list of leading banks/financial institutions for grant of home loans. We have got an experienced team to process home loan applications. For hassle-free home loans for apartments in ‘The View’ project in Gurgaon, our executives can be contacted at mobile no 91-9990217028, 9810445860, 011-47082736 or email at : info@zameen-zaidad.com

For more info log on to http://www.zameen-zaidad.com & http://www.propertycafeteria.com

Tags: real estate india indian commercial complex

RAJUS MAY LOSE CONTROL OVER MAYTAS PROPERTIES

September 25, 2009 Add comment

0 comments Real Estate Funds

After the erstwhile Satyam Computers and Maytas Infra, B Ramalinga Raju and his family could well lose control over Maytas Properties, a closely held realty firm that claims to have a land bank of over 6,800 acres.

The company has said it hopes to rope in a strategic investor by next month. “We have got the board’s approval and are in the final phase of discussions with the investor and bankers to achieve financial closure. The investor has completed legal due diligence and the technical due diligence is expected to be complete sometime next month,” according to a recent communication to customers of an up market residential projecthttp://www.zameen-zaidad.com/. The promoters are under pressure to sell their stakes in projects or even exit the business as they have failed to honor commitments made to customers to complete projects including a Rs 1,100 cr Maytas Hill County residential project. The company needs around Rs 150 cr to complete this project. A criminal complaint has already been filed against Ramalinga Raju’s younger son Rama Raju who runs Maytas Properties for defrauding customers.

Maytas Properties ran into trouble after Satyam’s botched acquisition of the firm last December. Satyam was planning to acquire Maytas Properties at around Rs 6,400 cr, but the deal was called off after investor backlash. Within a few weeks, Raju confessed to fudging the books of Satyam to perpetrate a multi-crore fraud.

The valuation of Maytas Properties could be significantly lower now if the firm’s land bank claims are proven to be incorrect. Investigating agencies suspect that the promoters siphoned off money from the beleaguered IT firm to Maytas Properties to finance land deals. Scores of realty deals were also done through several front companies floated by the promoter and his family.

“Axis Bank has an exposure to Maytas Properties. A communication was warranted as customers were jittery over the fate of the residential project. We also needed to take all stakeholders including banks that have an exposure to Maytas Properties on board about the strategic investor,” said a source privy to the development.

“All options are open,” Ved Jain, the government nominated director on the board of Maytas Properties told ET when asked if the promoters will exit the business or sell their stake in projects. The company is executing three projects including the Maytas Hill County Special Economic Zone.

Only last month, Infrastructure Leasing & Financial Services was handed control of Maytas Infra amid cancelled contracts and deep financial distress at a company which was once overseen by Teja Raju, the elder son of Ramalinga Raju.

The government decided to wind down its role in Maytas Infra after having run it for about six months, a period when it failed to effectively arrest the cancellation of contracts that the company had won before the Satyam financial scandal erupted in January. Pune-based Tech Mahindra is the new owner of Satyam.

Courtesy:- ET dt:- 21-09-09

Tags: real estate india indian commercial complex vcomp

Folly to raise home prices now: Realtors

September 25, 2009 Add comment

0 comments Real Estate

IT will be a mistake to raise prices of homes now anticipating festive season demand and because of a fall in new project launches, since the revival of consumer interest may be fragile, some builders say.

“It is not very wise to increase prices drastically now,’’ said Niranjan Hiranandani, managing director, Hiranandani Group, one of the Mumbai’s biggest real estate developers. ``The market has just recovered and the buyers are returning.”

According to developer sources, home prices have risen about 15% In tier-1 cities, particularly in Mumbai and the national capital region (NCR) over the past 2-3 months anticipating a pick up in demand due to low interest rates after falling in the prior 12 months due to the credit crisis. The curtailment of supply due to a 45% in fall in new projects in tier-1 cities has also improved the prospects of higher prices.

“We have sold around 2.5 million sq ft in last quarter and are expecting to sell over 1.5 million sq ft during the last quarter of 2009,’’ said Abhisheck Lodha, director, Lodha Developers,. ``Normally, the festive season is when there are a lot of bookings in the sector.” There is a possibility of lower prices too. “Many developers who have to maintain cash flows could either reduce prices or come out with freebies,’’ Sandeep Shah, managing director, HBS Realtors, a Mumbai based realty firm.

Courtesy:- ET dt:- 21-09-09

Tags: real estate india indian commercial complex vcomp

FESTIVAL OF OPTIMISM

September 23, 2009 Add comment

0 comments Property in Noida

Property in Noida

This festive season, the housing market has no baits like cars, gold coins or holiday packages for buyers, but builders are hopeful of good sales anyway, finds Syed Amir Ali Hashmi

It was raining festive offers this time last year. Cars, holiday packages and gold coins were the carrots offered to buyers for snapping up that flat or that Med-style villa. This year, the baits have disappeared. As the market gears up for Navratra and Diwali, traditionally an auspicious time for property purchase, builders are looking to score decent sales without giving away expensive `return gifts'. The reason: they feel the market is picking up and buyers will now come of their own accord. Real estate players have been hit hard by the slowdown -- the six-month period of October 2008 to March 2009 was a real dampener. Many developers had to reassess the market and keep projects on hold. But now the sector is seeing what is known as cautious optimism. "The residential market is bouncing back," says Manu Garg, MD of Landcraft Developers. "We've seen a very positive response for our project at Raj Nagar Extension, NH 58, and Ghaziabad. We believe that this festive season is going to be a good one for everyone. We plan to definitely offer something then, but the specifics will have to be worked out."

Navin Raheja, chairman of Raheja Developers, looks at this period "as one of those rare moments in the life of people who want to buy property -- at least in northern India". The downturn has been "a long depressing period," but something good has come out of it. "Everything is in place for the real estate sector," says Raheja. "The prices have bottomed out, interest rates are low, and affordable housing is available."

Any special offers for buyers? Raheja replies, "We are coming up with a new project called Raheja `Shilas,' in Sector 109, Gurgaon, near the IGI airport and 2km from Dwarka Phase II. The costs come to Rs 2,775 per sq. ft. (But) with an inaugural discount of Rs 200 per sq. ft, the special festive price is Rs 2,575 per sq. ft. The project is a mix of towers and independent floors. We have 200 apartments in all. There are three towers of G+12 storeys and 20 blocks of independent G+2 floors. We are launching it on the first day of Navratra, a very auspicious period for Hindus."

Strong sentiments

Developers feel that the market sentiments are good. Reports, they say, indicate that the market is flush with buyers who want property at affordable prices -- and what is needed right now are projects that suit their needs.

RK Mittal, chairman and managing director, CHD Developers, says, "We've already seen the building up of (a) lot of positive momentum in the run-up to the festive season. Our recently launched CHD Lifestyle project at Karnal, comprising over 150 independent floors, was sold out within six weeks. We plan to launch a similar project with a higher product offering in a very short time."

Mittal continues, "The initial market response has been tremendous. The festive season looks highly promising.

"We also have another project, Sri Krishnalok at Vrindavan, Mathura, which comprises one- and two-bedroom flats.

"We're about to announce a special festive promotion, through which customers can expect to benefit by Rs 51,000 to Rs 1 lakh, depending on the type of the flat and payment plan. Here, 1BHK on an 812 sq. ft built-up area is available for Rs 15.5 lakh and 2BHK on a 1,120 sq. ft built-up area for Rs 19.5 lakh."

A few developers are, however, handing out goodies. RK Arora, chairman and managing director, Supertech Limited, says, "In this festive season, we're coming up with some offers and schemes to help people buy their dream homes. For the Green Village Township in Meerut, we are organizing a lucky draw that will get the winner a 1BHK flat [in the township]. This offer is on till September 18.

"For other projects, such as 34 Pavilion & Emerald Court (Noida), Czar Suites (Greater Noida), Palm Greens (Meerut and Moradabad) and Livingston (Ghaziabad), we're offering air-conditioners to customers -- as many A-Cs as the number of rooms in their flat. It is a festival offer for a limited period, up to September 27."

Courtesy:- HT Estates dt:- 19-09-09

Tags: real estate india indian commercial complex

EMERALD ESTATE PROJECT GURGAON

September 23, 2009 Add comment

0 comments Real Estate

MGF Development Limited of India and Emaar Properties, a Public Joint Stock Company (PJSC) of Dubai have made a joint venture and have developed a company in the name of ‘Emaar MGF Land Limited’ to make it one of India’s leading real estate company. Emaar MGF Land Limited started real estate activities in India in 2005. Emaar MGF has developed many projects in residential, commercial and hospitality sector across lengths and breadths of the country. Company’s vision is to be India’s leading and most admired real estate company. Their mission is to develop and deliver unique lifestyle and work place environments in India through world-class quality, integrated infrastructure and master-planned development.

‘Emerald Estate’ project is being developed by Emaar MGF Land Limited in Sector 65 Urban Estate Gurgaon. The project is ideally located in proximity of National Capital. Emerald Estate Gurgaon is a part of the larger master planned gated community of Emerald Hills, Emerald Estate, a 25-acre mid-rise group-housing development. In the project area, clean crisp air, clubhouse, state-of-the-art security, centralized piped cooking gas system, wide internal roads and shopping make it a great place to live in.

We, Shri Aditya Estate, are one of the leading real estate consultants, established in Delhi and working successfully for more than a decade. We have developed well-embellished websites viz. www.zameen-zaidad.com, www.propertycafeteria.com with a clear concept to showcase all kinds of properties of our patrons for wider publicity of their products for sale/purchase, leasing and renting purposes. Our website – www.zameen-zaidad.com - is displaying the details of project of Emerald Estate Gurgaon. Homes for sale are available in Emerald Estate Gurgaon. For best and transparent deals for apartments in Emerald Estate Gurgaon, our experienced marketing executives can be contacted at mob no 91-9650398925, 9810445860, 9911158601, 011-42470622 or email at : info@zameen-zaidad.com. Our company is on the approved list of leading banks/financial institutions for grant of home loans. We have got an experienced team to process home loan applications. For hassle-free home loans for apartments in Emerald Estate Gurgaon, our executives can be contacted at mobile no 91-9990217028, 9810445860, 011-47082736 or email at : info@zameen-zaidad.com.

For more info log on to www.zameen-zaidad.com and www.propertycafeteria.com

Tags: real estate india indian commercial complex vcomp

MINT TOWERS – GURGAON

September 21, 2009 Add comment

0 comments Real Estate Funds

Project Name Mint Towers

Name of Builder GPL

Project Type Mini Township (Residential)

Price As below

Location Sector -70, Gurgaon

Agent Shri Aditya Estates
47082733, 9810445860

Mint Towers are a part of Eden Heights, Gurgaon being developed by GPL Infrastructure. These Towers host limited edition, affordable, efficiently planned 2 Bedroom + Study Apartments. Specially designed & priced keeping in mind the needs of the young corporate individuals. Part of an 11 acre township with world class facilities at Eden Heights, strategically located just off the Southern Periphery Road, Sector 70, Sohna Road, Gurgaon.

Some of the Key Factors, which make the apartments at Mint Towers different from the other offerings at present times are:

Construction in Full Swing
Sample Apartment Ready
Compact Size of 1050 sq.ft. (2 Bedrooms + Study)
Amazingly Efficient Floor Plan (Bedroom Sizes: 11x14 & 10x13)
Three Side Open apartments, to make sure all apartments are Airy & Well Lit.
All Facilities that one would expect in any good community.
Well planned landscaping within the Community.
Wi-Fi Ready Apartments
24 x 7 Security
100% Power BackUp
Large Size Club within the community with world class facilities.
Tennis Courts
Basket Ball Courts.
Connectivity to Proposed Metro Station
Affordable Prices to encourage actual users to make the most of it.

Down Payment Plan

Rebate 10% on Basic Sale

Price At the time of Registration 10% of BSP

Within 45 days from Booking 85% of BSP (Less 10% of 85%) + EDC + IDC + CMRC

On Final Notice of Possession 5% of BSP + IFMS + Stamp duty charges(And Other charges as application)

Tags: real estate india indian commercial complex

GLOBAL CITY- MUMBAI

September 21, 2009 Add comment

0 comments Real Estate in India

Project Name Global City

Name of Builder Keystone Group

Project Type Residential flat

Price As below

Location Virar (West) Mumbai

Agent Shri Aditya Estates
42470622, 9810445860

We are pleased that you chose to enquire about Global City. We have received an overwhelming reponse for the first phase of our launch. As a result we are currently able to offer only 2 & 3 BHK apartments, with 2 BHK pricing starting at 13.49 lacs. However, please note that within 2-3 months, we will be launching the next phase comprising of fresh stock of 1, 2, 3 & 4 BHK apartments.

You can choose from the currently available 2 &3 apartments. We urge you to book at the earliest to avail of the current prices as well as well as ensure a flat selection of your preference. Should you decide to wait for the next phase. Please be assured that we will be contacting you as soon as the announcement is made.

Global City is located in Virar (West), an emerging suburb on the western side of Mumbai. Famous for Jivdani Temple and Arnala Beach, Virar also has some other attractions including Agashi Jain Temple and an adventure sports centre.

PAYMENT PLAN

PAYMENT SCHEDULE PERCENTAGE

1st Installment towards booking 5%

2nd Installment towards booking 5%

Plinth 10%

2nd Slab 10%

4th Slab 10%

6th Slab 10%

8th Slab 10%

On Completion of Masnory 7%

On Completion of External Plumbing 7%

On Completion of External Paint 7%

On Completion of Flooring 7%

On Completion of Doors & Windows 7%

On Possession 5%

Total 100%

Tags: real estate india indian commercial complex

REALTY SECTOR REGULATED

September 19, 2009 Add comment

0 comments Real Estate in India

Government is now planning to bring in a regulatory mechanism to make the housing sector grow better and lend a cutting edge to it. This regulation also aims at making the sector more efficient and transparent. ET Realty explores how this reform will affect the real estate sector all over

The central government is working on a model real estate regulation bill to provide guidelines to facilitate growth and promotion of healthy and transparent, efficient and competitive real estate sector in the country, said the housing and urban poverty alleviation minister Kumari Selja. This is a welcome move and will help the sector in becoming efficient and competitive. However, developers feel the government should form a separate regulator on the lines of Securities and Exchange Board of India (SEBI) to regulate the sector.

Addressing a conference on real estate, the minister said Indian real estate market is unorganized and fragmented and that most of property transactions are based on certain perceptions and not necessarily on sound business principles. In this, customer satisfaction is low and redressed procedure is long and cumbersome. This has created problems for both buyers and developers. As end users are not sure of delivery of a house by builders on time, they don’t want to risk a purchase by taking a loan from the bank.

Apart from this, many buyers are not even sure of the specifications, which developers promise while selling them the houses/flats. Worse still, when developers do not deliver on time or stick to the promised specifications while selling, buyers do not know where to for redressed. Going to a court is not only time consuming but also expensive.

This has forced buyers to either defer their purchase or to go for completed projects. But, this apprehension of end users has affected genuine developers as well, which have a plan and required finances to complete a project. However, in the last couple of months, end users have started showing interest in buying new projects. But, they want to buy in the projects of reputed developers alone. This has created problem for the new but good developers.

A senior developer says if the sector is well regulated, the role of brokers and investors can be reduced. In most of the cases, investors, who have better understanding of the sector and who can invest time and money to know about developers, invest at the early stage of implementation of a project and make easy money by selling them to end users at high prices when the project comes to a close? The end users, on the other hand, are comfortable in buying a house when projects are close to completion, hence making the sector over dependent on investors. Consequently, in the last one year of market downturn, the entire real estate sector came to a screeching halt as investors disappeared from the market. But, had the sector been well regulated, end users would have been bold enough to buy at the early stage of project implementation. This would have helped developers also.

However, another problem in regulating the sector is that it comes under the state subject as well. Thus, a senior official says nothing much can be done unless state governments show interest. Haryana Government has already passed an act to regulate the sector. But, the results are not encouraging, thus far. It was assured all the stakeholders that the government will accord full cooperation and support to encourage affordable housing.

She said the housing sector in India holds tremendous potential and has positive impact on the social and economic development of the country. In 2006-07 the sector was about 4.5% of country's Gross Domestic Product and comprised approximately 7% of the total urban workforce. Housing is the largest component of the construction sector and central to economic growth. However, provision of affordable housing for all is a complex problem with challenges emerging from many facets of urban sector. The minister said there are many impediments to the growth of affordable housing land and capital being the two key constraints.

To increase the stock for affordable housing the focus has to be on augmenting land supplies. Kumari Selja said the issue is a critical one and requires a number of measures such as alternative methods of land assembly, development and disposal to be pursued, check on prices of urban land, encouraging public-private partnership, promoting intense use of land-higher densities, revision in Floor Area Ratio or Floor Space Index and change of norms to suit local situations, discouraging speculation in land development, and allotment or disposal process to check rising prices of land.

Courtesy:- ET Realty dt:- 18-09-2009

Tags: real estate india indian commercial complex

AFFORDABLE AFFLUENCE AT GURGAON

September 19, 2009 Add comment

0 comments Property in Delhi

Property in Delhi

Ansal Buildwell Ltd (ABL) offers two distinct choices of lifestyle-Florence Residency and Sushant Residency at Sushant Lok-II and III, Gurgaon. ABL's Sushant Residency is a masterpiece of luxurious lifestyle draped in exclusive elegance. It offers a choice of 2-3 bedrooms independent floors with well designed living spaces, spread over three independent floors. Each floor invites admiration due to its designer affluence and lavish expanse that is enriched in totality, subtly papered and delightfully engrossing. Another distinct choice of luxurious independent floors is ABL's Florence Residency which offers the prospective buyers three bedrooms apartments at ground, first and second floor. The ground floor offers the privilege of lush green front lawn whereas the first and second floor residents have the advantage of spacious balconies.

Both these options have rich construction specifications and integrated living spaces that add a touch of class to the lifestyle. The prospective residents will have the convenience of daily needs stores in their neighborhood and absolutely peaceful living that is pollution free and naturally blissful.

The location of these housing units itself speaks volumes about how desirable these are. The civic infrastructure here is fully developed with various reputed academic institutions, health and Medicare facilities, dedicated shopping malls and entertainment avenues. With an address that’s coveted and facilities that are well in place, Sushant Lok-II and III are fast catching the fancy of buyers. No wonder then that people are lapping up all the best deals that they can.

So, welcome to a life that is flourishing amidst a picturesque and planned township with all the contemporary facilities.

Courtesy:- ET Realty dt:- 18-09-2009

Tags: real estate india indian commercial complex

UNITECH THE VILLA- GURGAON

September 17, 2009 Add comment

0 comments Real Estate Funds

Project Name The Villa

Name of Builder Unitech Ltd.

Project Type Villas

Price As below

Location Sector - 33 & 48, Sohna road, Gurgaon

Agent Shri Aditya Estates
42470622, 9810445860

Sit with your back straight. Close your eyes and exhale. Fill your belly with freshness. Feel the air filling your chest. Hold the breath in for a moment; now exhale as slowly as possible. Relax you body mind & soul. And let everything else go. Welcome to a sanctuary away from the rigors of modern living. A magical place where everyday is a holiday . Welcome to The Villas at Uniworld Resorts.

Club House & Facilities

Gymnasium
Multipurpose hall for meditation, yoga & gatherings
Swimming pool in villa
Kids play area
Changing rooms
Pantry
24 x 7 power back-up
Open Lawn Tennis Court in villa
Open Basketball Court
Open Badminton Court in villa

Specifications

Universal Structure Earthquake resistant structure Flooring Living/Dining Marble Bed Rooms Laminated wooden flooring Domestic Help Room Ceramic tiles Kitchen & Toilets Ceramic tiles Lobby/Lounge Marble Balconies & Terrace Ceramic tiles Staircase Stone/wood Wall Finish Internal Choice of acylic emulsion on PoP base, ceilings in oil bound distemper Domestic Help Room Oil bound distemper in villa External Texture paint finish and accent stone cladding; painted steel trellis; slate/mangalore roof tiles for sloping roofs Kitchen Dado Ceramic tiles till 600mm height above counter level on all walls Fittings Working platform surface in granite with recessed double bowl sink and drainer Toilets Dado Select Ceramic tile upto ceiling Fittings White sanitary fixtures, single lever CP fittings, 5 fixtures bathrooms for master bedroom. Other bedrooms with 3/4 fixtures bathroom Doors Main Entry Seasoned hardwood frames with European style moulded shutters in villa Internal Seasoned hardwood frames with European style moulded shutters Ironmongery Brush stainless steel handles and latches Windows / External Doors Powder coated/ anodised aluminium frame with glazed shutters Balconies & Terraces Handrail Toughened glass infill stainless steel handrail in selected area Glass 6 mm toughened glass to enhance security

Fore more info log on to http://www.zameen-zaidad.com/ or http://propertycafeteria.com

Tags: real estate india indian commercial complex

COS WITH LAND BANK TURNING REALTORS

September 17, 2009 Add comment

0 comments Property in Gurgaon

Upsurge In Real Estate Sector Prompts Bombay Dyeing, Century Textiles & Golden Tobacco To Develop Property

The revival of fortunes in the real estate sector has encouraged textile companies with huge land banks to foray into property development. Among such companies are textiles major Bombay Dyeing and Century Textiles. To date, most of the textile firms sold their land to developers.

Golden Tobacco, manufacturer of the Panama and Chancellor Cigarette brands, is also mulling to have its real estate arm to utilize its land assets across the country.

Earlier, groups like Tata, Mahindra and Godrej also entered the realty space. The Tata group has Tata Housing and Tata Realty while Mahindra’s venture is called Mahindra Life space Developers. Godrej’s venture goes by the name of Godrej Properties.

Nusli Wadia, Bombay Dyeing’s chairman, at the recent annual general meeting (AGM) said the progress on the real estate business was encouraging. Later, he told ET, “We have a land bank of 64 acres in Mumbai and we will develop this in a phased manner. The plan is to develop the land ourselves without involving a developer. We do not intend putting our land on the block.” Bombay Dyeing’s property is situated in central Mumbai. The real estate business for the company clocked revenues of over Rs 250 crore for FY 09. Apartments have been developed in Worli and Lower Parel.

Bombay Dyeing does not have a separate company in place for the realty foray. The company spokesperson declined to comment on the possibility of floating a real estate company.

BK Birla Group’s Century Textiles, which has a land bank of around 20 acres in Worli, will be the other company to enter the real estate space. “The company is considering real estate development and there could be some concrete development in the next couple of months,” said Century Textiles president RK Dalmia.

Meanwhile, Golden Tobacco, a Sanjay Dalmia group company, is also mulling the option of having a separate real estate arm. The company has land in many parts of India. Its 7.5-acre property in Mumbai was intended to be developed with a real estate company. However, it is learnt that Golden Tobacco will now go alone on this project. “We are looking to optimize our real estate resources and would do the needful in that regard,” said the company’s spokesperson.

Said Amber Maheshwari, director, investments, DTZ, an international property consultant, “The sector is looking better by the day and it is a good thing that corporates are venturing into it. This would not only improve the domestic framework but also bring in some good corporate governance practices. There will be more supply of land.” It is estimated that if the plans of these companies fructify, land worth $1.5 billion will come in as fresh supply.

Courtesy:- ET dt:- 16-09-09

Tags: real estate india indian commercial complex

DLF CAPITAL GREENS II

September 16, 2009 Add comment

0 comments Real Estate Funds

RBI EASES REALTY EXPOSURE NORMS FOR LENDING TO SEZS

DLF, India’s largest real estate company, is shortly launching their “DLF Capital Greens II” at Shivaji Marg, New Delhi.

DLF Capital Greens II is expected to have similar sizes and layout of apartments as the Phase I, which would be in the range of 1200 sq ft to 2600 sq ft. Other salient features of Phase II project are –Integrated Township with High Rise Apartments, located at just 7 kms away from CP, 8 kms away from New Delhi Railway Station, well connected by roads and metro network, located in the heart of national capital, surrounded by more than 100 acres of maintained greens, walking distance to high end commercial spaces and offices, 24 Hours Power Back-Up, Round the clock multi-tiered security, Air-conditioned Party Room, Indoor Games, Dispensary and Senior Secondary School.

Payment Option – Construction Linked/Down Payment.

Expected Price – Rs6000-7000 psf.

Booking Amount – Approx. Rs7.50 lakh for 2/3 BHK, Rs10.00 lakh for 4 BHK.

Our website – www.zameen-zaidad.com - is displaying the details of DLF Capital Greens II.

For best and transparent deal for apartment in DLF Capital Greens II, our marketing executives can be contacted at mob no 91-9650398925, 9810445860, 9911158601, 011-42470622 or email at : info@zameen-zaidad.com.

Our company is on the approved list of leading banks/financial institutions for grant of home loans. We have got an experienced team to process home loan applications. For hassle-free home loans for DLF Capital Greens II project, our executives can be contacted at mobile no 91-9990217028, 9810445860, 011-47082736 or email at: info@zameen-zaidad.com.

For more info log on to http://www.zameen-zaidad.com/

Tags: real estate india indian commercial complex space gurgaon delhi noida office

September 15, 2009 Add comment

0 comments Real Estate

MAY EXTEND REGULATORY CONCESSIONS FOR BANKS: CHAKRABARTY

The Reserve Bank of India (RBI) has made it easier for banks to lend to special economic zones (SEZ). Several types of advances to projects in these zones have now been excluded from the definition of commercial real estate loans.

In a circular in 2006, the RBI had classified SEZs as commercial real estate, making it difficult for companies involved in these projects to raise funds. Real estate loans are considered risky and categorised as part of exposure to sensitive sectors, which also include capital markets and commodities. There are also restrictions on foreign investment in real estate.

LB Singhal, director general, Export Promotion Council for EoUs and SEZs told ET: “We had taken up this issue with the ministries of finance and commerce. The matter was put before the empowered group of ministers headed by finance minister Pranab Mukherjee, which had decided that SEZs should be treated as infrastructure.” He added that with the RBI’s clarification, loans to those developing, operating and maintaining SEZs, as well as setting up or acquiring units in SEZs will be part of infrastructure lending. “This would enable domestic institutions and banks to make funds available to SEZs on the terms and conditions applicable for infrastructure lending,” he added.

In the circular issued on Wednesday, RBI has sought to define a commercial real estate loan as one where the funds are used to acquire real estate and the repayment of loans is out of proceeds of sale or rentals from the property. Bearing these conditions in mind, RBI has sought to differentiate between loans which could be classified as commercial real estate exposures (CREs) and those which were not. RBI said there are projects where there are arrangements to insulate the lease rentals from volatility in the real estate prices. This is done by inking long-term lease agreements that outlive the loan agreement and need not be treated as CREs.

Courtesy:- ET dt:- 10-09-2009

Tags: real estate india indian commercial complex space gurgaon delhi noida office

September 15, 2009 Add comment

0 comments Real Estate Agents

Real Estate Agents

RBI has indicated that it may extend regulatory concessions for banks which facilitate financial inclusion. This was indicated by RBI deputy governor KC Chakrabarty at a seminar organised by Ficci-IBA. He said the RBI had announced this in 2006 but had not implemented it. “Although we did not act on it, we may consider it in future,” he said. In case of co-operative banks, technology and governance are the two key issues that need to be addressed. Mr Chakrabarty said the RBI is not worried about rising yields in the government securities market. He said if banks lower interest rates on deposits, interest rates in the system will come down. —Our Bureau

Courtesy:- ET dt:- 10-09-2009

Tags: real estate india indian commercial complex space gurgaon delhi noida office

EMERALD ESTATE GURGAON – I I

September 12, 2009 Add comment

0 comments Real Estate Funds

Shri Aditya Estate, are one of the leading real estate consultants, established in Delhi and working successfully for more than a decade. We have developed well-embellished websites viz. www.zameen-zaidad.com, www.propertycafeteria.com with a clear concept to showcase all kinds of properties of our patrons for wider publicity of their products for sale/purchase, leasing and renting purposes.

Our website www.zameen-zaidad.com is displaying the details of Emerald Estate Gurgaon project.

Emerald Estate Gurgaon is a part of the larger master planned gated community of Emerald Hills, Emerald Estate, a 25-acre mid-rise group-housing development. In the project area, clean crisp air, clubhouse, state-of-the-art security, centralized piped cooking gas system, wide internal roads and convenience shopping, make it a great place to live in.

Shri Aditya Estate is on the approved list of leading banks/financial institutions for grant of home loans. Shri Aditya Estate got an experienced team to process home loan applications. For hassle-free home loan for Emerald Estate Gurgaon project, our executives can be contacted at mobile no 91-9990217028, 9810445860, 011-47082736 or email at: info@zameen-zaidad.com. Or log on to www.zameen-zaidad.com, and www.propertycafeteria.com

INSTALLMENT PAYMENT PLAN

On Booking

5 Lakhs

Within 45 days of booking

20% of Sale Price less Booking Amount

Within 90 days of booking

7.5% of Sale Price

On start of construction

5% of Sale Price

On completion of Ground floor roof slab

7.5% of Sale Price + 50% of Cost of Parking Slot

On completion of 2nd floor roof slab

5% of Sale Price + 50% of Cost of Parking Slot

On completion of 4th floor roof slab

5% of Sale Price + 50% of PLC if applicable

On completion of 6th floor roof slab

7.5% of Sale Price + 50% of PLC if applicable

On completion of 8th floor roof slab

7.5% of Sale Price

On completion of 10th floor roof slab

7.5% of Sale Price

On completion of final roof slab

7.5% of Sale Price

On completion of external plaster

7.5% of Sale Price

On completion of Internal Flooring and wall painting

7.5% of Sale Price

On intimation for possession

5% of Sale Price + IFMS (See note 3)+ StampDuty &

Registration Charges (See note 4)

Other charges

External Development Charges (EDC) Rs. 240/- per sq. ft. Infrastructure Development Charges (IDC) Rs. 30/- per sq. ft. Down Payment Rebate As Applicable Preferential Location Charges (PLC) (See note 7) Parking (Stilt/Covered) - Mandatory Rs. 2,50,000/- Parking (Open) - Optional

Rs. 1,75,000/-

Club Membership Rs. 75,000/- (mandatory).

Tags: real estate india indian commercial complex space gurgaon delhi noida office

PATTERNS FOR VISUAL INTEREST

September 12, 2009 Add comment

0 comments Real Estate

Geometric patterns in contrast with floral designs create arresting interiors

All forms are derived from geometry. The use of geometry is oriented to the space available and the individual preference of the user. Various geometric patterns like circles, squares, rectangular shapes and designs are widely used in contemporary homes. It could be symmetrical geometry or asymmetrical geometry.

A curved line is geometry while a curved line repeating itself in a particular form will give a different design. Two circles merging with each other would give another form or design. The same designs can give a different look keeping in mind different spaces. While designing your interiors, keep in mind the availability of the space and play with geometrical designs and floral patterns to achieve an effective contrast.

The trend these days is to experiment with geometrical shapes and to contrast it with floral patterns. For instance, the sofas and other main pieces in a home are geometrical in shape. The use of artificial flowers allows for a break in the geometrical pattern.

The living room sofas can have a floral back while the plain colour from the background of the floral pattern can be used on the seat and hands. The use of geometric shapes, whether in cushions, in curtains in the form of checks or stripes, allow for more vibrant colours like yellow, orange, red and green as against floral patterns, which allow for only softer colours.

Colour is an important decorating tool which has the power to change the shape and look of the room. Checks, stripes and other geometric designs can dramatically brighten up a room, while floral patterns can give it a pleasing look.

Though the walls should be coloured light, the furniture and the upholstery can be painted in bright and vibrant colours. Consider small checks, plaids and stripes as co-ordinates. Remember that the main trick is blending patterns within the decor and to use them in different scales.

From a visual standpoint, stripes can create an illusion. A vertically striped wallpaper in a room can make the room look taller while stripes that run horizontally, will gives the illusion of wider spaces, which is sometimes ideal in very large rooms. Large stripes in a small space may be too much, just as narrow stripes in a large room. One has to hence decide and understand the basic structure of the house before experimenting.

The furniture should be sleek, lowlevel and kept to a bare minimum. Choose furniture that is straight-lined and match the interiors of your room. Steel furniture goes well with contemporary design while being available in various geometric shapes. Round and square tables are common.

The use of lampshades adds to the decor of the room and these are available in not only different shapes but in a variety of colours and with an assortment of embellishments.

Courtesy:- TOI dt:- 05-09-2009

Tags: real estate india indian commercial complex space gurgaon delhi noida office

VAT IN REALTY

September 11, 2009 Add comment

0 comments Real Estate Funds

Value added tax (VAT) has always been a cause of perplexity to the real estate buyers. While some builders are recovering VAT from the customers, there are others who are not charging their customers at all. This has led to much confusion for the property buyers as to whether VAT needs to be paid and if it does need to be paid, what should be the amount.

Value added tax

The VAT system replaced the sales tax system with the objective of simplifying the tax regime and to avoid the problem of double taxation. VAT is a multi-stage tax levied at each stage of the value chain with the provision that tax credit will be allowed for the tax paid at an earlier stage.

Under the VAT structure, there are two categories of rates - four percent or 12.5 percent. The idea behind this was to bring about uniformity in the levying of tax by different States and simplify the complex structure under the sales tax system. Different States have enacted the VAT Act for their State along with certain variations. While some States have moved away from the basic rate structure, some have introduced certain exemptions and concessions for the benefit of specific sectors.

In Karnataka, the real estate developers or builders have an option to charge VAT to the customers under two schemes. The first one is the composition scheme where the builder pays four percent of the construction cost as VAT. In this case, he does not claim anything from the individual owners.

Under the second scheme, the builder can collect 12.5 percent of 70 percent of the cost of construction from the individual owners. This works out to 8.75 percent of the total cost of construction. VAT is applicable only to materials and 70 percent of construction cost is representative of the materials cost in construction. VAT is calculated on the cost of the flat, parking space cost and amenities.

While some may think that it is unfair for buyers where the builder opts for the second scheme, it is not so. In the first case, although the builder is paying VAT himself, the additional burden will be passed on to the owners by way of a higher price. Similarly, where the builder is recovering VAT from the owners, the price of the flat would be lower to that extent since VAT is an additional cost to the buyer. Failure to do so may render him uncompetitive in his overall pricing.

Courtesy:- TOI dt:- 05-09-2009

Tags: real estate india indian commercial complex

AMRAPALI GROUP’S NEW VENTURE

September 11, 2009 Add comment

0 comments Real Estate Funds

Maytas Properties may get developer to rescue project

After the success of Amrapali Sapphire, the Amrapali group offers Amrapali Empire. Located at NH-24 Ghaziabad opposite ABES Engineering College, it is spread over 16000 sqmt and is 8 km from Shipra Mall. It offers a range of housing from 2 bed room to 3 bedroom apartments. Apartments cover 1000 sq.ft and go on to 1650 sq.ft .The price for these apartments starts at an affordable Rs. 37 lakh. This project will be completed within a time frame of 27 months.

Courtesy:- HT dt:- 05-09-2009

Tags: real estate india indian commercial complex space gurgaon delhi noida office

DLF NEW PARTNER OF MOTHERCARE

September 9, 2009 Add comment

0 comments Office Space in Delhi

Office Space in Delhi

UK Retailer Forms 51:49 JV With Indian Realty Co, Present Franchise Deal With Shoppers Stop To Coexist

Mother care, a UK retailer for kids and expectant mothers, is forming a 51:49 joint venture with India’s largest real estate company DLF, two people close to the development said.

While the company would continue its existing franchise agreement with department store chain Shoppers Stop, it hopes that the new JV will give it greater control over its Indian operations and ability to expand quickly in one of the fastest growing economies, they said requesting anonymity.

Both DLF and Mothercare refused to confirm the developments brushing it off as “market speculation”.

Mothercare spokeswoman Catriona McDermott said in a statement that the company was committed to its ongoing expansion in the Indian market. She said the company has 21 stores in affiliation with Shoppers Stop, which will remain a Mothercare franchisee in India.

“Shoppers Stop continues to be a valuable partner in Mothercare’s ongoing Indian strategy,” she said.

The UK retailer had been in discussions with DLF and Tata group retailer Trent for a possible equity partnership in India.

In the past, many foreign retailers, who nurtured a long-term view on India, have shunned the franchise route to form JVs with Indian partners. Last year, UK’s largest apparel retailer Marks & Spencer entered into a joint venture with Reliance Retail ending its franchise agreement with Planet Retail. Indian laws make it compulsory for a foreign retailer selling a single brand to take on Indian partner as the former can’t own more than 51% equity in a retail business. Foreign investment is still not allowed in companies that sell more than one brand.

A JV in India traces Mothercare’s recent move in China, which saw it breaking from its tradition of growing overseas only by franchising to local organisations. It has formed a joint venture with local partner Goodbaby in China.

“We envisage that we may engage in more joint ventures in future, though we will remain mindful of political, cultural and economic risks which attend international investment,” chairman Ian R Peacock said in the latest annual report, talking about China joint venture.

The UK retailer, which has 1,014 stores in 50 countries, including 609 stores outside the UK, sees the international market as “the biggest single growth opportunity”, as per its annual report. Mothercare reported an International retail sales growth of 41%, as against 6.9% overall sales growth for FY09 to £723 million. Similarly, international same store sales were up 6%, as against UK’s 1.4% for FY09.

A joint venture with Mothercare further diversifies DLF’s portfolio of brands, which already has Giorgio Armani, Dolce & Gabbana, Salvatore Ferragamao, Sunglass Hut and Sia Home. The realty firm, which has been partnering foreign retailers—usually as junior ally—aims to have a stream of clients for its malls through these tie-ups.

A typical standalone store of Mothercare in India is 3,000-6,000 sqft, while a shop-in-shop is 1,800-2,000 sqft. The retailer offers a range of products, including clothing, hardware and toys in India for mothers-to-be, infants and pre-school kids and sources over 70% of products sold in the country from global vendors.

Courtesy:- Et dt:- 08-09-2009

Tags: real estate india indian commercial complex

September 9, 2009 Add comment

0 comments Office Space in Gurgaon

Office Space in Gurgaon

Maytas Properties, the unlisted real estate company belonging to the family of Satyam Computer Services’ disgraced founder, Ramalinga Raju, is likely to shortly finalise a deal with a developer to support its troubled Hill County project, say sources.

The residential project, coming up at Bachupally on the city outskirts, it behind schedule by nine months. The Rs 1,000-crore project is to have 840 apartments and 326 in dependent bungalows, priced between Rs 50 lakh and Rs 2.5 crore. The apartments are not ready, through a few bungalows are.

According to sources, Maytas Properties would assign the developer a new project and raise a bank loan using the projected incomes from the proposed property. It would use that loan for completing the Hill County project. “From what we understand, it will be a tripartite agreement with Maytas Properties, the bank and the developer,” sources told Business Standard.

This is one of several options the company is pursuing to complete the construction and give possession to those who had booked houses; the latter have so far invested Rs 630 crore by way of payments. The project requires Rs 150-200 crore more.

“It looks like it will be a positive development for the company,” the source said, adding a deal might be signed in a week or so. He, however, did not talk specifics about the project the developer would be given. Maytas Properties had earlier asked its customers to use their good offices to find investors for Hill County.

The company offered to give unencumbered collateral to the prospective investors, with the flexibility to withdraw the money invested in a year, sell of some property at rates much lower than the prevailing market rates or liquidate the collateral if the company did not repay.

Courtesy:- BS dt:-08-09-09

Tags: real estate india indian commercial complex

MINT TOWERS

September 7, 2009 Add comment

0 comments Real Estate Funds

Shri Aditya Estate is one of the leading real estate consultants, established in Delhi and performing successfully for more than one decade. We have developed well embellished websites viz. www.zameen-zaidad.com & www.propertycafeteria.com with a clear concept to show case all kinds of properties of our patrons for wider publicity of their projects for sale/purchase, leasing and renting purposes.

Mint Towers Gurgaon is being developed by GPL Infrastructure. Mint towers are ideally located in near vicinity of National Capital. Flats in Mint towers are affordable, spacious, 100% back-up and are being speedily constructed. Proposed Metro Station is very near to Mint Towers.

MINT TOWERS GURGAON

September 7, 2009 Add comment

0 comments Real Estate

UNITECH SUNBREEZE LAUNCH NEW PROJECT IN GURGAON

GPL Infrastructure is developing Mint Towers at Gurgaon. Mint Towers are a part of Eden Heights Gurgaon. Apartments in Mint Towers are affordable and efficiently planned. Other features of Mint Towers are - Faster Construction, Spacious Bed-Rooms (11x14 & 10x13), Three side Open Apartments, Airy & Well lit flats, 100% Power Back-up, 24x7 Security, Tennis & Basket Ball Courts, Spacious Club Facility, Connectivity to proposed Metro Station & Ideally located in vicinity of National Capital

Ours is world renowned portal in the name of zameen-zaidad.com dealing in real estate sector.

Tags: real estate india indian commercial complex

September 4, 2009 Add comment

0 comments Real Estate Funds

2 BR + Study 968 & 1100 sq. ft. 3 BR + SQ 1303 & 1501 sq. ft. 4 BR + SQ 1628 & 1807 sq. ft. 4 BR + Store + Store 1656 & 1826 sq. ft. Basic Sale Price Rs.2914/- per sq. ft. Inauguration discount Rs.250/sq.ft. External Development Charges 298/- per sq.ft. Infrastructure Development Charges 33/- per sq. ft. Preferential Location Charges (PLC) Ground Floor Rs. 85/- per sq. ft. 1st Floor Rs. 70/- per sq. ft. 2nd Floor Rs. 60/- per sq. ft. Corner Rs. 60/- per sq. ft. Landscaping Facing (upto G+7) Rs. 60/- per sq. ft. Interest Free Maintenance Security Deposit Rs. 50/- per sq. ft. Car Parking Space Covered Rs.2,00,000/- per parking Open Rs. 1,25,000/- per parking Club Membership Registration Charges Rs. 40,000/- Note:- 2BR&3BR- One covered Car parking is Mandatory 4BR -One Covered & One Open Car Parking is Mandatory

DOWN PAYMENT PLAN

At the time of Registration of Application for Allotment 10% of BSP Within 45 Days Of the date of Registration 85% of BSP +PLC + Parking + 50% of CMRC + EDC + IDC On Notice Of Possession

5% of BSP + 50% of CMRC + Stamp duty
charges and other charges as applicable

CONSTRUCTION LINKED INSTALLMENT PLAN At the time of Registration of Application for Allotment 10% of BSP Within 75 days of allotment 10% of BSP Within 150 days of allotment 10% of BSP On commencement of construction 10% of BSP + 50% of PLC + 25% of EDC & IDC On casting of Ground Floor Roof 10% BSP + 50% of PLC + 25% of EDC & IDC On casting of Third Floor Roof 10% of BSP + 50% of CMRC + 25% of EDC & IDC On casting of Sixth Floor Roof 5% of BSP + 50% of Parking + 25% of EDC & IDC On casting of Ninth Floor Roof 5% of BSP + 50% of Parking On casting of Eleventh Floor Roof 5% of BSP On casting of Top Floor Roof 5% of BSP On completion of masonry work in the apartment 5% of BSP On completion of internal plaster within the apartment 5% of BSP On completion of flooring within apartment

5% of BSP

On notice of possession 5% of BSP + 50% of CMRC+ Stamp duty

Structure

Wall finish Internal Oil bound distemper Servant Quarter / store Oil bound distemper External Exterior Paint Lift Lobbies Combination of paint and stone/tiles Flooring Living / Dining / Bedrooms Vitrified Tiles Servant Quarter / store Ceramic Tiles Lift Lobbies Stone/ Vitrified liles Kitchen Flooring Ceramic Tiles Dado Ceramic tiles till 600 mm above counter area, rest painted with Oil bound distemper Fittings Granite Counter with stainless steel sink and drain board Doors Main Entry Seasoned Hardwood frame with European style mounded Shutter Internal Doors Seasoned Hardwood frame with European style mounded Shutter Toilets Flooring Ceramic tiles Dado Select ceramic tiles upto 2100 Fittings Granite counter, white sanitary fixtures, single lever CP fittings, Pipe Balconies Flooring

Ceramic tiles

Windows / External Door

Powder coated /anodized aluminum glazing

Electrical Copper electrical wiring In concealed conduits and modular Switches Power Back-up 24x7 power back-up Communication TV and telephone points in living rooms and master bedroom only

For more info log on to http://www.zameen-zaidad.com/default.aspx and

RAMPRASTHA CITY LAUNCH NEW PROJECT IN (EDGE TOWERS) - GURGAON

Tags: real estate india indian commercial complex

September 4, 2009 Add comment

0 comments Real Estate in India

Living/Dining/Passage & Lobby within Apartment & Bedrooms

Ramprastha Promoters and Developers, a name synonymous with quality building is proud to present its latest pride and joy...Fine living starts with a great home. And that is exactly what we bring to you at The Edge Towers. Placed in sector 37-D of Gurgaon, the Edge Towers are strategically located at Ramprastha City. They are positioned on the brink of the Metro route, and 3 minutes from the highway, making it all the more convenient.

A conclave of high-rises placed in a lush landscape with a trendy clubhouse, picturesque swimming pool, smart tennis courts and a lavish golf course truly make it the isle of the blessed. What's more! Swanky shopping malls, hospital facilities, reputed educational institutes and recreation parks, give it a perfect setting for your family's well-being and vitality. Available in 2BHK, 3BHK and 4BHK, each apartment is furnished with all the required amenities and ergonomics. A technically sound design and quality, ensure that it's not only beautiful but secure as well.

Floors

Master Bedroom

Laminated Wooden Flooring

Vitrified Tiles

Balcony

Anti-skid Tiles

Kitchen & Toilets

Anti-skid Vitrified Tiles

Walls

Living/Dining/Passage & Lobby within Apartment

Acrylic Emulsion

Kitchen & Toilets

Combination of Ceramic Tiles

Ceilings

Ceiling

Oil-Bound Distemper

Counters

Kitchen

Kitchen in Marble/Granite

Fittings/Fixtures

Toilets & Kitchen

Single Lever CP Fittings, White Chinaware, Shower Partition only in master bath, Stainless Steel kitchen with drain board

Woodwork

Bedrooms

Wooden Cupboard

Kitchen

Modular Kitchen

Doors & Windows

Internal Doors

Hardwood door frames veneered and polished/ Skin mouldec shutters

External Glazing

Powder coated Aluminum glazing

Electricals

Modular types switches and sockets, copper wiring (fittings like fans, lights, fixtures, geysers, appliances etc not provided), power back-up.

Security System

Proximity Card Access Control, CCTV, for Basement Parking and Entrance Lobby at Ground floor, Boom barriers at entry and exit of the complex and basement parking.

Club Facility

Swimming pool, gymnasium, sauna & spa, squash and tennis courts (acilities in the main club)

For more info log on to http://www.zameen-zaidad.com/default.aspx and

ICICI CUTS HOME LOAN RATES TO REMAIN COMPETITIVE

Tags: real estate india indian commercial complex

September 1, 2009 Add comment

0 comments Real Estate

Joining the battle being fought in the market for mortgages, India's second-largest lender, ICICI Bank, has cut rates for home loans from August 20.

Accordingly, the rate for home loans up to Rs 20 lakh will now be 8.75 per cent, while loans between Rs 20-50 lakh will be charged 9.25 per cent. For loans above Rs 50 lakh, the rate has been fixed at 9.75 per cent. Earlier, loans below Rs 30 lakh were charged 9.25 per cent while the rate for loans above Rs 30 lakh was 9.75 per cent.

The battle in the home-loan market was sparked by the country's largest lender, State Bank of India (SBI), which announced a competitive package early this month. Now, loans from SBI are available for 8 per cent for the first year and 8-9 per cent for the next two years depending on the size of the scheme.

Two weeks ago, India's largest mortgage lender, Housing Development and Finance Corporation (HDFC), reworked its interest rate slabs, resulting in a 50 basis points (bps) cut to 9 per cent for loans of Rs 30-50 lakh. In mid-July, HDFC had cut interest rates on loans of up to Rs 15 lakh by 50 basis points to 8.75 per cent.

The last mortgage player to cut home-loan rates was LIC Housing Finance. The country's second-largest mortgage player cut floating rates by 50 bps from 9.25 per cent to 8.75 per cent for loans of Rs 30-75 lakh.

ICICI Bank, which has seen high losses on its unsecured loans portfolio, has indicated that it wants to continue growing its mortgage and auto loans portfolios.

As of June 30, 2009, the lender's outstanding housing loans portfolio was Rs 53,472 crore.

Courtesy:- BS dt:- 28-08-09

Tags: real estate india indian commercial complex

BPTP MULLS PUBLIC OFFER

September 1, 2009 Add comment

0 comments Real Estate

Delhi-Based privately held realty firm BPTP, which shot into limelight last year after winning the bid for the country’s largest-ever land deal in Noida and slid into a financial mess thereafter, says it has seen off the financial troubles but remains cautious on growth. The company intends to raise funds through an initial public offer (IPO), but has not decided on the timing or the amount to be raised, a senior executive said.

“We are out of this mess (Noida land deal). Home sales have picked up and we have received bookings for around 5,500 homes,” said BPTP director Sudhanshu Tripathi, explaining how things were improving at the firm.

In March 2008, BPTP placed a big bet by outbidding realty giant DLF to win the Rs 5,000-crore land deal in a government auction. The property market went into a slump soon after the land deal. To add to the company’s woes, one of the financial investors — Citi Property Investors (CPI) — reduced its commitment of $160 million in BPTP’s special economic zones (SEZs) to just $100 million. This was in line with many other private equity deals that either got scrapped or scaled down in the downturn.

Eventually, BPTP acquired only a part of the land (23 acres of the total 95 acre) that it won in the auction. It shelled out Rs 1,300 crore for the transaction, half of which was raised through stake sale to J P Morgan and Citi Property Investors and rest came from promoter Kabul Chawla.

BPTP, which claims to have a landbank of over 2,000 acres in the national capital region, may soon revive its plans to raise capital and give exit route to its foreign stakeholders Citi Property Investors and JP Morgan, which together hold close to 9% in the company. “We will contemplate an IPO in 2-3 months to raise funds for our growth. But right now we haven’t charted a growth plan. We still remain cautious,” Mr Tripathi says.

Courtesy:- ET dt:- 27-08-09

Tags: real estate india indian commercial complex

HOUSE THATINTEGRATED TOWNSHIP

August 28, 2009 Add comment

0 comments Real Estate Funds

SAHARA PRIME CITY PLANS TO RAISE RS 5,000 CR IN IPO

I am planning to buy an apartment in an integrated township. Please guide me on the social infrastructure benefits that I need to keep in mind.

(Amit Patel)

Integrated townships are coming up in all segments, ranging from low-cost (affordable housing) to high-end formats. Some of the common social amenities that you should look at within these townships include provision of schools, hospitals or nursing homes, shopping centers that take care of your daily needs and emergency services like fire station etc. Presence of these facilities shall ensure that all your family needs are taken care of in a compact, secure environment. Also keep in mind that the township should have ample green areas and parking facilities as well.

Most of the high-end townships provide a few more added facilities to entice the high-income buyer, including a clubhouse, social gathering halls, gymnasium and jogging track, swimming pool, kid’s crèche. Some townships also include a golf course as part of the integrated offering.

Generally, all things being equal, there is a premium ranging from Rs 200–500 per sqft associated with being part of such townships vis-à-vis a stand-alone building. The premium depends upon the type and variety of social infrastructure being offered within the township. Though most of these townships are located on the outskirts of the city, increasing travel time to important nodes, you pay the premium to provide your family with all basic amenities in close proximity.

LOW-COST HOMES

I am a software engineer with an MNC. I want to invest Rs 10-15 lakh in real estate. Is there a market for small investments? Also, are there any government incentives or rebates that I can avail?

(Rohini Singh )

There is definitely a residential property market in the price band of Rs 10-15 lakh in metro cities. This price segment incidentally co-insides with the much talked about “affordable housing” proposition that has lately been of interest to developers and buyers alike. Most of the projects in this segment are coming up in the future growth vectors of these cities. However, the bad news is that you have missed the bus on the special home loan package stimulus, which the government had launched for the period December 2008 to June 2009, where housing loans up to Rs 5 lakh were given at 8.5% interest and borrowers in Rs 5-20 lakh segment were charged 9.25% for the first five years. The good news is that as an impetus to low cost housing, the finance minister in the Union Budget 2009-10 sanctioned an interest subvention of 1% to individuals on all home loans in the affordable housing segment for one year. The assistance is applicable on all housing loans up to Rs 10 lakh, on houses with capital value not exceeding Rs 20 lakh. The monetary benefit that you can get as a result of this subvention is up to Rs 10,000.

Chintan Patel, Associate Director, real estate practice, E&Y

(These comments are based on the limited information provided by the people. The advice may vary subject to actual facts and circumstances of the case)

Courtesy:- ET dt:- 23-08-09

Tags: real estate india indian commercial complex

August 28, 2009 Add comment

0 comments Real Estate Funds

Sahara group’s realty arm Sahara Prime City is planning to raise up to Rs 5,000 crore by this year-end through an initial public offer (IPO) and will approach market regulator SEBI later this month in this regard.

The company is believed to have engaged investment bankers, including Kotak, Enam and JM Financial, for the public issue, market sources said.

The draft prospectus for the IPO is being readied and the same could be filed with the Securities and Exchange Board of India by the end of this month.

No comments could be obtained from the Sahara group spokesperson, but sources said the group would wish to launch the IPO by the end of this year, subject to Sebi approval.

Sahara Prime City will be the third Sahara group entity to enter the capital market after Sahara Housingfina Corp Ltd and Sahara One Media and Entertainment Ltd. It is present in over 200 cities with its housing and commercial projects. However, the group’s ambitious Ambey Valley project is not part of the company

Courtesy:- BS dt:- 21-08-09

Tags: real estate india indian commercial complex

DARSHAN SHASTRA

August 18, 2009 Add comment

0 comments Real Estate in India

Katra, which is a big draw for Vaishnodevi devotees, is now dotted with branded retail outlets and hospitality majors. ET Realty reports Namrata Kohli

Planning a trip to Vaishnodevi? Be ready for some newage interventions along the way. For starters, tickets are available online (jaimatavaishnodevi.com) to simplify the tedious process of coming to Katra and standing in unending serpentine queues, making payments and getting the 'parchi', your passport to darshan of the divine deity, now a matter of a mouse click. Secondly, be ready to be greeted by branded outlets at the foot of the shrine - Katra. Katra, the downhill town on way up to Vaishnodevi shrine, which sees religious tourists thronging in large numbers round the year, is 46 km away from Jammu, and is seeing some heightened real estate activity.

There are already three Cafe Coffee Day outlets, of which one is between Balganga and Adhkawari (which is halfway up the Vaishnodevi Mandir), the second one at Adhkawari, and the third one at Katra main market. While Baskin Robbins already has a presence here, Sagar Ratna is opening an outlet at Hotel Subhash International. The place has also been inundated with enquiries from other branded retailers such as Dominoes and Comesun group.

According to Anil Sharma, general manager of Hotel Subhash International, "All these outlets bring their own equipment, systems, processes and even manpower. They are surely adding value to the place and are in turn doing brisk business. Landowners here lease out premises to these retailers and they operate as tenants paying a monthly rental ranging from approximately Rs 100-150 /sq ft/month." Shops, showrooms, hotels, and guesthouses are prime drivers of real estate in Katra. The town of Katra comprises four major roads, namely, Main Market, which is the prime commercial space, Balganga road, Jammu road, and Kashmir road. The real estate metric used here is 'kanal', which is equivalent to 3,600 sq ft.

While the main market is choked and with no space left, Jammu road is the next prime location where the values prevailing are anything between Rs 80 lakh and Rs 1 crore per kanal. If one goes down further on Kashmir road, a lot of space is available and transactions happen even at Rs 20-25 lakh per kanal. With over 275 guest houses plus hotels, the place so far had only 20 reasonable hotels, ones which could qualify to be of the 3-star category, with average room tariff at around Rs 1,500 per day. However, three plush hotels have come up in Katra - White Orchid, K C resorts, and Country Inn, whose facilities include a swimming pool, spa, and a helipad for darshan. In residential real estate, a lot of land is available untapped and people currently stay in bungalows of minimum size of 1 kanal or 3,600 sq ft costing approximately Rs 10 lakh.

Apartments are currently not available but there is immense scope for these as well. According to a local who spoke on condition of anonymity, "Most of the businessmen have tied up with locals here and set up their projects, whether it is in hospitality, or retail sector. Unfortunately, many locals look at investors as a threat and are not open to entering into partnership with an 'outsider', and if they do, they hold a heavy premium. But once they are here, there is no looking back and they do brisk business. However, the biggest challenge is to manage a local partner. Land is cheaper than in metros and opportunities are vast and not harnessed."

On the infrastructure front, a stadium is being planned at the Katra bus stand for conducting sports events. A university called Mata Vaishno University is coming up 8 km away and a huge cancer hospital project is in the pipeline. But the biggest infrastructure project is that of the railway station, which will take a year to take off. According to shopkeeper Nahir, "The minute that project takes off, the economy of Katra will be on a super fast track and the economy of Jammu will be affected as pilgrims will all come directly to Katra, instead of via Jammu."

Courtesy:- ET dt:- 14-08-09

Tags: real estate india indian commercial complex space gurgaon delhi noida office

OTHER FACTORS AT PLAY

August 18, 2009 Add comment

0 comments Real Estate Funds

PENINSULA LAND PLANS RS 500 CR MOP UP VIA QIP

Besides recession, there are other reasons why real estate values have come down. Namrata Kohli tracks down these factors

Recession, while being the primary cause for correction in property prices, is not necessarily the only reason. Scratch deeper, and you will find other factors responsible for correction in values such as increase in land supply/finished products, revision in specifications of buildings by developers, and increase in floorarea ratio (FAR).

A noteworthy point is while all new projects are being launched at realistic (corrected) prices, many of the existing projects have also corrected their pricing. A broker cites some examples of projects in Gurgaon and Noida, “In Gurgaon, various projects under DLF, Unitech, and Vatika, which were available in and around Sector Road and Sohna Road, near NH-8, in the range of Rs 4,000-8,000 per sq ft almost 7-8 months ago, are now available in the range of Rs 3,500 to Rs 4,500 per sq ft on basic selling price.” In Noida, the broker adds that projects on the expressway under Jaypee, Omaxe, Unitech, and Eldeco, were available in the range of Rs 5,000 to Rs 7,000 per sq ft, 7-8 months ago. But new projects of Jaypee, 3C, Unitech, Amrapali are available in the range of Rs 2,500 to Rs 3,500 per sq ft on basic selling price within the same vicinity.”

There has been a significant price correction and this is apparent in the average values prevailing in the NCR. While in upcoming projects at Gurgaon the basic selling price ranges between Rs 2,000 and Rs 3,200 per sq ft, depending on the location/sector, in Faridabad, it is between Rs 1,500 and Rs 3,000 per sq ft, while in Noida, the range is between Rs 2,500 and Rs 3,200 per sq ft.

Developers attribute fall in realty values to something else. They feel price matrix is only determined by demand-supply equation. With global financial crisis and unabated rise in Indian inflation index, the cost of buying a house went up. Home loan interest rates also became much higher than the rates many could afford. All these resulted in waning of demand for property. According to Rajeev Rai, vice-president of Corporate Assotech Ltd, “To counter decreasing demand and to gain confidence of all stakeholders of Indian real estate, developers association like NAREDCO and CREDAI decided to bring down prices of various properties by reducing overheads and marketing costs. In some cases, ticket size of the property was reduced with reduction in size of apartment to make it more affordable for the masses.”

One view is also that in bringing down prices, developers are compromising on certain specifications. According to Arjun Kumar, director of AsiaPac International India, “One can see that there has been a compromise on specifications, especially in furnishing and finishing part of the house such as wooden flooring, modular kitchen, wardrobes, fittings in bathroom, etc. Having said this, it would be wrong to say developers have started compromising on the basic structures of buildings.”

Another view is that prices have come down due to increase in FAR, especially in Noida, and increase in land supply in Gurgaon and Faridabad. Says Kumar Arjun, “Gurgaon and Faridabad fall under Haryana and there has been increase in land supply because of the revision in master plan. In the new master plan, many more residential sectors have been added and licences for new projects have been approved. All this has added to the supply in market. This has of course given enough room for developers to be competitive in tight economic situation. Noida and Ghaziabad, which are in Uttar Pradesh, are witnessing an increase in supply primarily because more land have been auctioned and given to developers for group housing. The FAR applicable has also been revised from 1.75 to 2.75 and restriction on going vertical has virtually been relaxed. This has definitely led to price competitiveness.”

But Rajeev Rai of Assotech argues that any addition in FAR always comes with additional charges, which has to be paid to the development authority. “In case of ongoing projects, the foundation work and ground coverage norms do not provide much scope for full utilization of additional FAR. So it doesn’t have much bearing on the price level.”

However, the fact is, higher FAR is what makes affordable housing possible — for instance, Falcon constructed houses on NH-8 by providing greater number of apartments at reduced sizes and by incorporating cost effective technology. According to Bhim Yadav, CEO, Falcon Realty Services Pvt Ltd, “A higher FAR not only brings in more supply to the market, it is vital for creating room for more affordable housing and controls the steep rise in prices. This will ultimately benefit the common man.”

Courtesy:- TOI dt:- 15-08-09

Tags: real estate india indian commercial complex

August 10, 2009 Add comment

0 comments Real Estate Funds

Real Estate Company Peninsula Land is planning to raise a qualified institutional placement (QIP) of Rs 500 crore for acquiring land in Mumbai.

Peninsula Land has already identified 5 plots in Parel, Lower Parel, Kanjurmarg and Thane, said Rajeev Piramal, the companys executive vice chairman

The capital, if raised from the QIP, will be used towards acquisition of new properties , as we will complete our current projects of 4 million sq feet in Mumbai within the next 18 months and need to find fresh projects to replace those, Piramal said. The company currently has a board approval to raise upto Rs 750 crore and will decide on the final amount to be raised in its annual general meeting that will be held on August 10.

Mr Piramal said demand for commercial projects will at least six months to revive . Were moving away from the commercial model for our projects outside Mumbai for three years now, he said.

Peninsula Land has decided to convert its plans of developing commercial projects on 30 acres in Hyderabad and 100 acres in Pune to residential.

The company will also develop residential projects on its Nashik and Goa properties. Peninsula Land has plans to launch 7 million sq feet of residential projects over the next three years. The company’s stock closed up 1.91% on Thursday at Rs 71.95

Courtesy:- ET dt:-07-08-09

Tags: real estate india indian commercial complex

A FLOOR OF YOUR OWN

August 10, 2009 Add comment

0 comments Real Estate

Months after Haryana government green flagged the registration of independent floors in plotted colonies in Gurgaon, Faridabad and Panchkula, it notified two more ordinances last week.

Months after Haryana government green flagged the registration of independent floors in plotted colonies in Gurgaon, Faridabad and Panchkula, it notified two more ordinances last week. This is seen as a move that could push property prices in these cities and also make the dream of legally owning a house a reality for thousands of people in plotted colonies.

With these ordinances - The Haryana Development and Regulation of Urban Areas (Amendment) Ordinance 2009 and The Haryana Urban Development Authority (Amendment) Ordinance 2009 - the registration of independent residential floors as dwelling units for the purpose of transfer, sale, gift, exchange or lease would be allowed in areas like DLF, Sushant Lok, South City and HUDA sectors in Gurgaon and Faridabad.

The purchaser desiring registration has to pay a duty as notified by the government from time to time, in addition to the prevailing stamp duty.

Sources said that vertical divisions of plots and increase in floor area ratio (FAR) would not be allowed. In addition to the normal stamp duty, 1% extra stamp duty would have to be paid by the party desirous of registering the floor-wise dwelling units through a separate challan. This 1% stamp duty will be paid by the treasury to the municipal committee/ HUDA depending on where the property in question is located. While this is going to bring huge relief to house owners, there is also a catch for the state government. It expects to generate approximately Rs 200 crore revenue in the form of collection of stamp duty with this single move. Haryana has already lost huge revenue, close to Rs 250 crore in last fiscal, due to the slowdown in real estate sector. Now, people in the realty sector say it is a timely move when the sector is expecting to make a comeback.

According to official sources, revenue in the form of stamp duty collected from sale of property in Gurgaon is one of the single most major revenue generators for Haryana government.

Meanwhile, property owners and real estate consultants also claim property prices had peaked in Chandigarh after the government allowed floor-wise registration of houses. Official sources said sections of private developers in Gurgaon in particular had been blocking the sale and registration of independent floors and that that resulted in pushing the sale of flats in multistoreyed buildings and apartments

Courtesy:- ET Reatly dt:- 07-08-09

Tags: real estate india indian commercial complex

GODREJ PROPERTIES, LODHA MAY FLOAT IPOS SOON

August 8, 2009 Add comment

0 comments Real Estate

SUCCESS OF OTHER QIPS, NEED FOR ENQUITY CAPITAL TO PUSH DECISION

Private property developers such as Godrej Properties and Lodha Developers may tap capital markets in the next three-four months to raise funds for their ventures, according to investment banking sources.

Godrej Properties, part of the Godrej group, may float an initial public offer of around Rs 500 crore in the next three months, said a banker close to the development. The company plans to sell 9.4 million equity shares in the IPO, which will constitute 13.5 per cent paid up capital of the company, the draft red herring prospectus (DRHP) filed by it showed. The company also plans a pre-IPO placement of 2.4 million shares with investors, the company said.

Though the company had filed a DRHP with the Securities and Exchange Board of India (Sebi) in June 2008, it had postponed the IPO due to adverse market conditions. Godrej Properties recently got a nod from Sebi for the IPO, which has a window of 12 months. However, the company wants to hit the market at the earliest, sources said.

When asked, a Godrej Properties official declined to comment on the IPO. Its proceeds are expected to be used for buying land and construction activities, sources said. ICICI Securities and Kotak Mahindra are bankers for the issue.

Another Mumbai-based developer, Lodha Developers, is also looking at an IPO of Rs 2,000 crore by the year end and plans to a file a DRHP soon, a television channel reported today. But when asked, Abhisheck Lodha, director of Lodha Developers, declined to comment.

“Lodha’s IPO plans are in the preliminary stages and nothing has been finalised yet. Apart from IPO, there are various ways of raising funds. We will take a call soon,’’ said a banker involved in the fund raising process.

According to consultants, the succesful qualified institutional placements (QIPs) of property developers in the recent past and requirements of equity capital are prompting developers to go for an IPO. “The QIPs of real estate companies have been accepted very well by the market. Most of the real estate companies are in need of equity capital, as they are highly leveraged. They need to get equity capital to lower their leverage positions,’’ said Ambar Maheshwari, director, investments, DTZ, an international property consultant.

Real estate companies such as Unitech, Indiabulls Real Estate, HDIL and Sobha Developers raised over Rs 7,500 crore this year by selling shares to investors through QIPs.

“Real estate companies planning an IPO should have a flexible strategies in terms of launches, products and pricing to tackle the uncertain times in the property market,’’ said Maheswari

Courtesy:- BS dt:- 06-08-09

Tags: real estate india indian commercial complex

MOTOR SPORTS CITY NEAR GURGAON

August 8, 2009 Add comment

0 comments Real Estate Funds

Haryana has approved a plan to set up a motor sports city spread over an area of 1600-1700 acres in Mewat district, in the vicinity of Gurgaon

The Haryana Investment Promotion Board on Tuesday approved in principal the proposal of a private developer to develop Gurgaon Motor Sports City near Sohna, in district Mewat, with an investment of Rs 2000 crore. The project also envisages future investment of Rs 6000 crore.

It was also decided that acquisition of land for the project will be done as per the state's policy for special economic zones (SEZ) under which the developer will have to acquire 75% of the land.

The project will have a race track and ancillary facilities like hotel, entertainment parks and golf course. The project is expected to generate direct employment for 7500 persons and indirect employment for one lakh persons. The project will also earn foreign exchange and boost the local economy through enhanced potential for tourism in the state.

The board also agreed to allot 700 acre of land to Maruti Suzuki India Limited IMT Rohtak for setting up research and development (R&D) facilities, test course and for accommodation of its ancillaries. While 600 acres of land will be utilized for setting up R&D facilities and test course, the remaining 100 acres will be utilized for establishing automobile industries or its ancillary units.

On request from the Union ministry of commerce and industry, the Haryana Investment Promotion Board also agreed to provide additional three acres to Footwear Design and Development Institute at IMT Rohtak apart from the 15 acre that has already been allotted to it.

Courtesy:- TOI dt:- 05-08-09

Tags: real estate india indian commercial complex

INDIABULLS LTD IN REAL ESTATE AREA

July 21, 2009 Add comment

0 comments Real Estate in India

Indiabulls Ltd., one of the top business houses in India has business spread across financial services, real estate, power, retail and multiplex. The group's interest in real estate sector is managed by Indiabulls Real Estate Ltd. It is the 3rd largest real estate company of India, having its operations spread across 16 cities. It is transforming 17 million sq.ft. of land for quality living experience. The company's interest areas include townships, group housing, offices, retail, multiplex, SEZ, IT, etc.

For more info log on to http://www.zameen-zaidad.com

Tags: real estate india indian commercial complex

TERRACE GARDEN

July 21, 2009 Add comment

0 comments Real Estate Funds

Nowadays, people are going for houses with a terrace garden, shelling out extra cash even in a period of slowdown, says Vivek Shukla

Imagine a situation where you enjoy the light drizzle or even a brisk shower on the terrace garden of your house. It goes without saying that after the heat of a sweltering summer, you will grab such a dream opportunity.

To enjoy such rare moments in the fast and chaotic life of metros, many people, of course rich, hardly mind paying more rent so as to secure rights to a terrace garden on their house.

And street-smart landlords too are converting their barren terraces, generally used for dumping old things, into green fields. They are developing mini-gardens there, with huge concrete umbrellas and chairs. And likewise, the realty firms are offering penthouses with a garden, swimming pool, and so many other alluring facilities. A South Delhi-based realtor Anil Makhijani of Mak Realtors says that

Affluent people, like foreign diplomats, officials of MNCs, and others, are always on the lookout for such houses where they can get a roof garden as well. Realtors say a nice terrace garden can only be developed in a house built on an area of 325 sq yards and above. Many people buy a second floor with roof rights as a terrace garden is a great place to host small parties.

“It’s great to have one as it gives such a feeling of space,” says Rajni Gulati, talking about her terrace garden in DLF. A gardening enthusiast, Rajni says when they shifted here from England four years ago, they decided at once that they would develop a nice terrace garden atop their house. “And, now, prospective tenants always grab our second floor as it gives them the terrace rights. They pay us more money.”

Rajni is among the many metropolis-dwellers who long to tend to a green patch in their house where a cup of tea can be served in the morning sun, or a small barbecue under the night sky for friends.

Realty experts say the lack of ground space for a garden hasn’t been a deterrent to garden lovers. Fact of the matter is, the ground floor space isn’t even the preferred choice nowadays, because a green patch at ground level has its share of disadvantages - the constant sound of traffic, the swirl of dust, and only occasional sunlight as it is blocked out by the surrounding tall structures.

Sunil Jindal, CEO of SVP group, says even they never thought their penthouse apartments in their Gulmohar Greens project in Mohannagar would have so many buyers. “Even in these times of a massive slowdown, there were buyers for our penthouses,” says Sunil.

The story repeats itself even in the case of other realty firms like Omaxe, Supertech, Assotech, etc. R K Arora, Suprtech group’s MD, says they are providing a small pool and garden on their terrace-garden flats. A top-level executive working for a foreign liquor company says earlier he was living in terrace flat with roof garden on Hailey Road. After getting accustomed to that kind of living, which also lent a great view of the city, he decided to purchase a penthouse built by a known builder.

Vidur Bharadwaj, an architect at Design and Development, suggests utilizing as much waste material in an innovative way to do up the flooring, and seating arrangements for a terrace garden as possible. The look for a terrace garden is along contemporary sleek lines.

“The ethnic look is out,” says Minesh Parikh, a landscapist with Landscape Designs, and suggests dry gardens like the ones in Japan, focusing on sculpted plants, figurines and pavements. Water features like cascading water walls that cost a couple of lakh rupees for 1ft x 20ft, or bubblers for Rs 20,000-30,000 too are preferred. Diffused or mood lighting is usually recommended for terrace gardens, as

Often, a terrace garden is an extension of a living space. “Highly personal terrace gardens see water bodies, chimes and birdbaths, and gardens meant for gatherings have makeshift bars and pavilions,” observes Parikh.

Courtesy:- TOI dt:- 18-07-09

Tags: real estate india indian commercial complex space gurgaon delhi noida office

PDP DEVELOPERS

July 18, 2009 Add comment

0 comments Real Estate in India

PDP Developers, a human touch real estate enterprise since 2004, has evolved into a fully integrated real estate solution provider . PDP Group's business strategy identifies business opportunities in high investment zones and focuses on land bank consolidation in emerging towns / tier II cities. Based out of New Delhi, PDP Developers has over the past several years developed a stronghold visible foothold in elite areas of Jaipur, seeks a solid presence in Mumbai, gradually expanding into a truly Pan-India footprint. Presently Tonk Square and Tonk Desire are its two prime projects on NH-12, Jaipur.

Courtesy:- TOI dt:- 11-07-09

Tags: real estate india indian commercial complex space gurgaon delhi noida office

SBI HOME LOANS

July 18, 2009 Add comment

0 comments Real Estate

JAYPEE GREENS IN THE NATIONAL CAPITAL REGION

We greet you on the occasion of our completion of 203 years of service to the nation and its people. With history a stretching back to 1806, more than 16000 branches spread across the nation and some 146 million customers. 'SBI' is a household name in India, right down to small towns and villages. It is the only Indian financial institution in the Global Fortune 500 list, coming in at 380.

Courtesy:- TOI dt:- 11-07-09

Tags: real estate india indian commercial complex

July 17, 2009 Add comment

0 comments Real Estate Funds

Jaypee Greens is the real estate division of Jaypee Group, one of the leading corporate houses in the country with an annual turnover of over Rs.6500 crores. Jaypee Greens has two premium lifestyle golf centric real estate developments in the National Capital Region. The first is Jaypee Greens Greater Noida, India's first premium golf-centric township in 452 acres and offers golf villas, luxurious apartments and penthouses amidst an 18+9 hole Greg Norman signature championship golf course, 60 acre-nature reserve, town centre, resort and spa hotel, India's finest sports club with a host of entertainment options. The second one is Jaypee Greens Noida, slated to be the India's largest township development spread over 1162 acres, It is a mix use development with Numerous Graham Cooke golf facility, 15 lakes and waterbodies, landscaped greens, play areas and parks.

For more info log on to to http://www.zameen-zaidad.com.

Tags: real estate india indian commercial complex space gurgaon delhi noida office

GENDER RULES

July 17, 2009 Add comment

0 comments Real Estate in India

The swelling numbers of women expatriates is brightening the rental scene in the capital with landlords even willing to let out their houses to women with live-in partners — for a fat rent, of course! Vivek Shukla reports

As more and more organizations give equal opportunities to women in their fold, a definite change in profile, in terms of gender, can be seen in the number of expatriates coming to Delhi for work. And, this has eased pressure on realtors who specialize in rented accommodation for expatriates.

According to realtors, a lady expatriate can easily get accommodation whether she is single or with her family - however, if she comes here with a male friend, finding a flat could be a worry. In any case, women have given the much necessary boost to the rental scene of Delhi.

Earlier, landlords were wary of giving their houses on rent to women expatriates, and at any rate, around eight-ten years ago, very few of them actually came here for any length of time. But, their number is swelling and today, almost three out of ten expats are women.

Scribe turned realtor, Kajol Makhijani of Mak Realtors, says the best thing about their growing number is that even if somebody is from an African country, or a black from countries like America, Canada or South Africa, they can easily get a rented accommodation here.

“We all know that when it comes to black male expatriates, we have to really slog in order to find a suitable house for them. When it comes to a black male, Delhi landlords are rank racist,” Kajol says.

A woman journalist from Germany, Dorothea Riecker, also seconds the fact and says women expatriates are coming here in hordes. Many journalists, diplomats and other professionals are flocking here after the market opened up. “Though it is true that they do not confront much problem in finding a house, the landlords try to charge extra rent from us. If landlords overcome this bias, then Delhi is a good city for us,” feels Riecker, who has been working with a magazine ‘Focus’ in Delhi for the last five years.

Another realtor Anu Gupta of DGS realtors says that unlike their male counterparts from Europe or America, women expatriates finalizehouses only after they fully satisfy themselves of the facilities available in the kitchen - they have to be modular kitchens. Maleexpatriates generally look for a small garden with their accommodation. Women too are fond of gardens, but their priority is apparently the kitchen.

And if they are married and have school-going kids, then they ensure they live in areas close to American School, British School, French School, German School, or Japanese School. The basic idea behind this is to guard their children from all the hassles that come with commuting in the chaotic and crowded roads of the capital. Married male expatriate too looks for houses close to schools. However, that is not their priority number one. In any case, both are ready to spend a little more on this amenity.

As American, British, and German schools are all located in Chankaypuri area, the nationals from these countries ensure that they live in rented accommodations in places like Vasant Vihar, Shanti Niketan, Westend, Anand Niketan, Malcha Marg, and Golf Link.

Nowadays, there is also no dearth of landlords who will rent out their houses to women who land here with their male friends or companions. Even though these landlords are socially conservative and averse to be seen to be encouraging live-in relationships, they are only too glad to compromise with their value systems as long as they get a really fat rent.

Narrating the experience of her friend from France, Prof Pratap Sehgal of the department of Hindi, DU, says that her friend who was doing research in Hindi came to Delhi last year with her male friend. And, that became a big impediment in finding a house. On this flimsy ground, two-three landlords in Rajouri Garden and Punjabi Bagh turned down her request for a rented accommodation. Later, after much effort and very unwillingly, the scholar started telling prospective landlords that the guy was her husband, and only then did she manage to find a house on rent in Kirti Nagar.

“It was really very shocking for me when I found many landlords refusing to let a house to my French friend just because she came here with her male friend,” says the professor.

Courtesy:- TOI dt:- 11-07-09

Tags: real estate india indian commercial complex

TRICKLE-DOWN EFFECT

July 16, 2009 Add comment

0 comments Real Estate

The focus of the Budget has been on creating a broader economy-wide revival than on sector-specific incentive framework. This will yield dividend to realty sector also, says

On the face of it, 2009-10 Budget seems to be disappointing for the real estate sector — it has not delivered much to the housing sector, directly. But analysts and developers feel finance minister Pranab Mukherjee did the right thing in addressing the main issue of an economic slowdown that the country is facing in the Budget, in the wake of a global recession. However, some of them argue the government should have given some sops to the real estate sector directly, which would have helped in reviving the economic growth in the country.

Ramesh Chandra, chairman of the second largest real estate firm Unitech Ltd, says that keeping in mind the 6.8% fiscal deficit, it was not possible for the finance minister to match all the expectations.

Global real estate research firm, DTZ, in a report says 2009-10 Budget focuses on longterm economic development. The report f u r t h e r adds that e x p e c t a - tions of real estate participants were not addressed specifically, though the sector benefits indirectly by the fillip given to infrastructure development, consumption, and employment-related programmes and measures.

Kapil Wadhawan, vice-chairman and MD of Dewan Housing Finance Corporation, says the continuation of the stimulus packages for 2009-10, which were announced by the government early this year to contain the economic slowdown, led to the fiscal deficit of 6.8%. This left the government with no room to give any relief to realty sector. But, had the government not continued with those packages, the economy would have been affected by the global slowdown, and this would have affected realty sector very adversely. “If the economy slows down further, no amount of relief package to the realty sector alone will help them revive,” he asserts. And, at the same time, if the economy revives, realty sector will also get back on track even without specific package for the sector, he adds.

Clearly, the focus has been on creating a broader economy-wide revival than on focusing on establishing sector-specific incentive framework, the DTZ report says.

Anshuman Magazine, CMD of global realty research firm CB Richard Ellis, South Asia, is of the view that the focus on infrastructure and providing more funding, especially for highways and railways, are the positive aspects of the Budget.

Anurag Mathur, MD of another global realty research firm Cushman and Wakefield (India), also said, “Though there is no immediate impact on real estate industry in this Budget, the finance minister has incorporated measures that have a midto long-term impact on urbanization, and hence on the real estate industry.”

The Jawaharlal Nehru National Urban Renewable Mission (JNNRUM), Mathur said, has been a very successful initiative and on the back of its success the FM increased allocation to it by a massive 87%, to Rs 12,887 crore. This scheme directly touches the urban fabric of the country and with real estate matters largely being a state subject, the central government through this tool will have the ability to initiate far-reaching reforms in the industry. This will provide impetus in creating urban infrastructure and bring in large land areas into the mainstream, where affordable houses could be developed.

There are several announcements relating to housing sector in rural areas. The Budget provides for interest subsidy on home loans up to Rs 1,00,000. Allocation to Indira Awaas Yojna increased by 63%, to Rs 8,883 crore. The Budget has also provided Rs 2,000 crore for Rural Housing Fund (RHF) to National Housing Bank (NHB) to boost its resource base for refinance operations in rural housing sector. It has also given Rs 1,000 crore for the housing of paramilitary forces. Allocation for Bharat Nirman has also been hiked by 45%.

Mathur says though the Budget’s key focus is on rural housing, the above measures would definitely reduce housing deficit in the country. This would enhance opportunities for public-private partnership (PPP) in both rural housing and housing for paramilitary forces, which are also present in main metros.

Enhanced allocation for the Commonwealth Games in 2010, from Rs 2,112 crore to Rs 3,472 crore, will also go a long way in improving the condition of NCR, which will in turn help the realty sector. Vijay Jindal, CMD of SVP Group, concurs with this and says, “There are many positives that we can take out from this Budget.” Allocation for NHAI has increased, which will mean better connectivity and hence a boost to the values of real estate along these routes. The increase in allocation for JNNURM will also come as a shot in the arm to mass housing on the outskirts of metros, Jindal adds.

“We, as real estate developer, have to see potential in the facts that there is an increase in allocations towards Rural Electrification Scheme, the Rural Housing Fund and Rural Road scheme. These focus areas by government can help real estate in far-flung areas and semi-urban areas,” he argues. Government has allocated Rs 1,00,000 crore to India Infrastructure Finance Company Ltd (IIFCL) to fund infrastructure projects in the country. In fact, analysts also say due to global slowdown, prices of commodities like steel and cement have fallen substantially from the peak level of last year, which is helping developers in constructing affordable houses.

While real estate has not seen a direct mention in the Budget speech, DTZ report said, various consumption-driven benefits may accrue to this sector in the near future.

By increasing allocation to the NREGA, government is hoping for a more inclusive employment and broad-based consumption revival.

However, while a lot was expected in the first Budget of the newly elected government, real estate sector has been given a miss by the finance minister. Developers feel measures like reintroduction of 80 IB would have helped builders in constructing affordable houses. Under this act, the profit made on small-size housing projects of less than 1,000 sq ft in metro cities are exempt from taxes. They were also expecting a good increase in Income Tax exemption limits to help increase the buyers’ purchasing power. But at the same time, the most important factor that affects realty sector is the interest rate. The slowdown in economy has affected the government’s revenue adversely, while the stimulus packages have increased its spending. This has already taken the fiscal deficit to all time high level of 6.8% of GDP. Had the government accepted all the demands of the industry, fiscal deficit would have further gone up, which in turn would have increased the demand for overnment’s borrowings leaving only a small quantum of resources for private sectors, including home loan borrowers. This would have led to increase in interest rates in the market. Even at the present level, there are apprehensions that interest rates could go up.

Chanda Kochhar, ICICI Bank’s MD and CEO, said financing of the government’s programmes without distorting market interest rates remains a key challenge to be addressed, in the light of widening fiscal deficit in the Budget. Therefore, keeping the fiscal deficit below certain level is also important for realty sectors.

Courtesy:- TOI dt:- 11-07-09

Tags: real estate india indian commercial complex space gurgaon delhi noida office

AKAR CREATIONS PRIVATE LTD.

July 16, 2009 Add comment

0 comments Real Estate in India

FDI LEEWAY FOR PROJECTS IN HOSPITALITY AND TOURISM

Akar Creations Pvt Ltd is the real estate arm of the Rs. 150 crore Borkar group having a diversified presence in packaging, retailing and real estate. Borkar Group was founded in the year 1910 as a retail kiosk and eventually spread its wings into printing and packaging and later - the construction industry. The retailing arm of Borkar Group today encompasses a chain of supermarkets spread out in the city of Margao-Goa. As far as packaging division is concerned, the group has a total of three factories in Goa, Daman and Himachal Pradesh and are one of the largest manufacturers of packaging cartons in India. Speaking about real estate, During this time the company commissioned a variety of innovative projects in Goa, many of which have become landmarks in the places they are located. Pancharatna - a commercial complex made up of five buildings, residential complexes like Indraprasta, Nandanvan, Ashiana, Mahalaxmi, JB Apartments - just to name a few.

Courtesy:- TOI dt:- 11-07-09

Tags: real estate india indian commercial complex space gurgaon delhi noida office

July 15, 2009 Add comment

0 comments Real Estate in India

In yet another move to ease the foreign direct investment (FDI) guideline for real estate, the department of industrial policy & promotion (DIPP) has proposed that minimum capitalisation norms be waived for some projects in hospitality and tourism.

In a note drafted for the Cabinet Committee on Economic Affairs (CCEA), the DIPP, which also handles the FDI policy, has said the minimum capitalisation norms specified in Press Note 2 can be waived in the case of projects involving hospitality and tourism facilities such as hotels, restaurants or entertainment facilities. Press Note 5 specifies that minimum capitalisation should be $5 million for permitting FDI in realty projects which involve an Indian partner. However, for a fully-owned subsidiary of an overseas firm the minimum capitalisation is $10 million. The waiver would be available to projects where half the built-up area is devoted to hotel and tourism businesses like food courts, resorts, restaurants, or if 20% of the total built-up area is used for hotel rooms.

The DIPP has also proposed that FDI should be allowed to flow into smaller realty projects covering only 10 acres. As of now, FDI is allowed in realty projects only if the minimum area covered is 25 acres (or 10 hectares). The move will help realty projects in metros like Mumbai, Delhi, Bangalore, Chennai and Hyderabad attract FDI.

Realty players say that it is not possible to find 25 acres of land in these cities to make their projects comply with Press Note 2 of 2005, which defines guidelines for permitting FDI in this sector. The industry is keen on business in the metros as it attracts high-profile customers, but wants FDI to be allowed since the cost of land in these cities is high, making them expensive.

Veterans in the real estate business who do not want to be identified said the liberalisation moves were welcome. These steps, when implemented, will provide relief to high-value projects in metros and projects being developed for the tourism sector. The move comes as a relief at a time when realty players are struggling to managed debt and lull in business, they added.

However, the realty industry is upset that its demand for waiving off the three-year lock-in for FDI in real estate has not been accepted. Many fund houses keep off realty projects due to the threeyear lock-in period, industry players feel.

Courtesy:- Et dt:- 11-07-09

Tags: real estate india indian commercial complex

REALTORS LINE UP FOR NTC FINLAY MILL

July 15, 2009 Add comment

0 comments Real Estate Funds

PRIVATE DEVELOPERS QUEUE UP FOR HIGHWAY PROJECTS

National Textile Corporation (NTC), which has put its Finlay Mill land parcel in central Mumbai on the block for the third time, got a shot in the arm after 20 realty players met government officials on Tuesday. This included names like Reliance Vorando, Tata Realty, Lodha Developers, DB Realty, Nahar Group and Kalpataru Developers. On two earlier instances, the property could not be sold.

NTC has set its reserve price at Rs 708 crore for the mill land which sits on an area of 10.3 acres. The reserve price for the property, it is learnt, is down from Rs 1,065 crore to Rs 708 crore though NTC is yet to make that public. The bidding will take place on July 16 with the winning bid to be announced a month later.

A senior NTC official said the developers would be required to pay a sum of Rs 100 crore each if they decide to submit their bid on July 17. Earlier on July 3, ET had reported that Tata Realty, Lodha Developers and DB Realty could bid for the Finlay Mill land property. NTC chairman K Ramchandran Pillai said, “We have got a good response from the developers. The realty market looks good though it is too premature to say anything beyond that.” NTC has appointed Jones Lang LaSalle Meghraj as their property consultant for this deal.

It is for the first time that so many realty players have shown their interest in the NTC land. On the earlier occasions, when the Finlay mill was put on the block, only a couple of developers evinced interest. In the first round of bidding in late 2008, DB Realty was the highest bidder but the bidding was cancelled as the highest bid was much lower than the then reserve price. In the second round, a sole bidder representing Chennai based Christy Textile Products Pvt. Ltd was disqualified after the company failed to deposit Rs 100 crore earnest money required to qualify for the bidding.

Courtesy:- ET dt:- 11-07-09

Tags: real estate india indian commercial complex

July 14, 2009 Add comment

0 comments Real Estate in India

Government's intent to push national highway projects seems to be finding good response with private road developers queuing up to submit bids. Of the bids invited recently for 35 road projects worth Rs 39,000 crore, 25 received enthusiastic response so far in the technical bidding stage (RFQ). According to NHAI officials, the response this time has been much better in comparison to the last spell of bidding for 60 projects. Then, only 13 projects had found takers in the financial bidding stage. Officials claimed that change of guard in the ministry, feel-good factor of the UPA's second innings besides the slowdown in realty sector and recent amendments in the Model Concession Agreement (MCA) have encouraged the bidders' participation.

Courtesy: - ET dt: - 10-07-09

Tags: real estate india indian commercial complex

AN EMERGING STAR IN REAL ESTATE SECTOR

July 14, 2009 Add comment

0 comments Real Estate Funds

Achievers Builders Pvt. Ltd. has established itself among the well-Known building and construction companies in the field. Company's Directors Suresh Dhawan, Vijay Bhardwaj, J.L. Bhatia and A.k. Goel have been associated with the real estate sector since long. According to them. the aim of their company is to provide residential accommodation to the people in beautiful surroundings. Director of Achievers Builders, said that construction of 300 villas in Kalindi Hills at Sector - 49 in Faridabad was the first project of the company. For the first time in India, the internal wiring technique has been introduced by the Achieves Builders in its projects which is based on American system of wiring. The 30 acre city houses Group Housing Society, Villas, Malls health club, swimming pool, play ground and much more. Some of the main salient features of the project include :- Fast congestion free connectivity to Gurgoan, South Delhi, just 20 mins drive: Free Hold Property, 24X7 Hr. Water Supply, Water Harvesting, Cemented Roads inside Township, Underground Electricity Wiring, Modern Street Lights, Airtel Broadbands and phones. They said that the builders and developers are considering Faridabad as a city having a big potential in real estate sector.

Courtesy: - ET dt: - 10-07-09

Tags: real estate india indian commercial complex

GRAND LIVING IN GREATER NOIDA

July 12, 2009 Add comment

0 comments Real Estate in India

With a number of educational institutes, health facilities, parks and world-class infrastructure, Greater Noida has become synonymous with grand living. Sarthak reports

Just ask about the positive points of Greater Noida from ace TV cameraperson Ashok Singh and chances are he will speak without pause for ten minutes. Once his office shifted to Noida Film City from South Delhi, he visited Greater Noida to cover an event for his news channel. That visit proved very important to him in the sense that he was completely bowled over by the wide roads and overall infrastructure of the place.

More important, he decided to buy a house in Greater Noida, then and there! After shifting there seven months ago, he is a happy man — and, his kids have also got admission to one of the public schools in Greater Noida.

No wonder then that the infrastructure of Greater Noida has attracted the attention of many in recent times. As you drive down the Noida-Greater Noida expressway, you feel as if you are moving in another country altogether.

Just half an hour drive from Delhi via the DND flyway and on the six-laneexpressway to Greater Noida, these sectors are close to several educational institutes, hospitals, clubs, and of course, the JayPee golf course in thesub-city. Also, the wide roads, lush greenery, and huge open spaces add to the resident’s feel-good.

According to Saurabh Sood of Shri Krishan Estates, realty companies like Uppals, ATS, Eledco, Purvanchal and several others are active here and offer flats in the price range of Rs 25 lakh to Rs 50 lakh, and over. Huge 1,600 sq feet flats are available in Greater Noida for around Rs 42 to Rs 45 lakh. And if you have a budget of Rs 25 lakh, then there are ready-to-move flats built on 850 sq feet.

Real estate agents in the vicinity, most of them located at the commercial center near the expressway, are of the view that the market in these sectors is picking up after a lull of few months.

“Earlier, when these sectors were coming up, many financers and investors showed interest here. But gradually, investors moved out and only the end user can be seen,” says Dr Devender Gupta, CMD of realty consultancy Century 21 India.

Plots and apartments in these sectors are available in the secondary market, and they command good prices — the meltdown’s effects are not so obvious. However, Vikas Yadav, director of Golf View Properties, says that the prices have obviously come down but not to the extent that some people imagine. “We can say that the correction was to the tune of only 7-10%,” he adds.

“Correction to this extent is not alarming and it can happen anytime. So, we cannot say that the realty market has come down, at least not here. What works for these sectors is their proximity to the expressway, golf course, and the commercial center. In fact, many institutes and hospitals are at a stone’s throw,” says an official of Uppals.

At the Greater Noida end of the expressway, India Expo Mart, an alternative to Delhi’s Pragati Maidan, has become operational. Knowledge Park, with over 24 engineering and management colleges, will also come up along the expressway. At the Noida end, the projects, which have been completed include Amity University, Logix Techno-Park, Lotus Valley School, Mayoor International School, ATS Green and Parsvnath Prestige Apartments, all in Sector 93.

Noida Authority is planning to set up a medical city called Arogya Dham, which will contain super-specialty world-class hospitals, a matching commercial complex, homes for the attendants on more than 50 acres of land along the expressway — and these will have plenty of open space, thanks to wide roads, parks and green cover.

Surinder Pratap, a resident of Aplha2, says he moved to this place in 2005. Earlier he used to stay in Munirka in South Delhi where he grew up. For him the change was a happy one as infrastructure here is far better than in Munirka and the connectivity is also good. He goes for night-outs with his family and has never faced any law and order problem. The only thing that he misses here is a multiplex and restaurants.

Plots are available at Rs 23,000 per sq m, meaning that a plot of 250 sq yd, will cost around Rs 50 lakh, excluding the cost of transfer and registry. Three years ago, the rates were hovering around Rs 15-18,000 per sq m. In these sectors, plots of 60 sq m to 350 sq m can be found. The prices of apartments are around Rs 2,800-3,000 per sq ft.

Developers present in these sectors are Parsvnath, MSX, and MI Builders Ltd. But before going for the final kill in the area, just bear in mind that property agents normally jack up the prices.

Courtesy:- TOI dt:- 04-07-09

Tags: real estate india indian commercial complex space gurgaon delhi noida office residence buy property home loan agents funds

NEW CIRCLE RATES IN NCR

July 12, 2009 Add comment

0 comments Real Estate Funds

With hi-tech townships, industrial and commercial development coming up at a rapid clip, circle rates are set to go up by in the NCR, says

Even though property prices have not skyrocketed in the NCR in the last 6-10 months, the concerned authorities have a proposal to review the circle rates here. The government of Haryana has already hiked the circle rates by 10-12% in Gurgaon and Faridabad. Now, the government of Uttar Pradesh is also set to hike circle rates in Noida-Greater Noida and Ghaziabad by 10-20%.

The new circle rates have been proposed to bridge the gap between the real estate prices and existing sector rates and the sub-registrar offices have been asked to submit their proposals. It is expected that the new circle rates will be effective from end-July in Noida-Greater Noida and Ghaziabad.

The new circle rates for a hyper-potential zone like Gurgaon have already been tagged in revenue records and already effected. In DLF City Phase 1-4, where the market rate of land ranges between Rs 50,000 and Rs 70,000 per sq yard, the circle rates have been increased from Rs 19,000-21,000 to Rs 21,000-23,000, according to revenue officials.

Revenue officials say that in Sushant Lok’s Phase 1-3 the circle rates now stand revised at Rs 20,000-21,000 as against Rs 18,500-19,000 per sq yard. K P Yadav, assistant stamp commissioner, Ghaziabad, says that after receiving proposals from sub-registrar offices, the district administration will revise the circle rates. The new circle rates are likely to be effective from end-July. According to some reports, the new circle rates in Mehrauli village near NH-24 will be nearly Rs 1 crore per acre. The new rates will be on the basis of distance from the National Highway.

The current circle rates of Bamheta village are Rs 80 lakh to Rs 1crore per acre, while the revised rates are likely to be Rs 90 lakh to 1.1 crore per acre. In revenue oriented villages like Dundaheda, Arthla, Sihani, Nahal, Dhukna, Karhaida, Masuri, Dasna, Akbarpur-Behrampur, Mainapur, and Sadarpur the circle rates are likely to be hiked by 10-20%. Rakesh Yadav of Antriksh Builders says the reason behind circle rate revision is that these villages are near NH-24 and with most of the high-tech townships and developmental projects coming up here land becomes costlier.

Interestingly, there is a likelihood of a steep increase in the circle rates for residential land. The circle rates at Ramprastha, Surya Nagar, Chandra Nagar, Vaishali, Kaushambi, Indirapuram, Vasundhara, Kavinagar, Rajnagar, Nehru Nagar, Brijvihar, Lohia Nagar, Patel Nagar and Rajendra Nagar are also likely to be hiked by 10-20%. Obviously, the demand of residential, industrial and commercial plots plays a big role in pushing the revision in the circle rates.

Lalit Srivastava, chairman of Noida-Greater Noida authority, commenting on the proposed circle rate, says the right implementation of new circle rates is more important in valuing the price index and area development. For securing one’s property, one must pay the stamp duty individually; otherwise, a person can have no legal right to claim that property.

Recently, the district administration and the authority declared a list of defaulters in residential, commercial, institutional, and industrial plots and crores of rupees had to be recovered from these defaulters. Thus, paying stamp duty makes it easier for both sellers and buyers to gain legitimacy over their transactions.

The biggest challenge in selling a property is to make buyers heed more to the legal aspects of the transactions and a little more time and money thus spent on creating solid proof to get their property registered will certainly stand them in good stead — with the authorities!

Courtesy:- TOI dt:- 04-07-09

Tags: real estate india indian commercial complex

GLOBAL ECO CITY

July 10, 2009 Add comment

0 comments Real Estate in India

The passionate dream of a team of professionals with a walk-to-work theory resulted in the Global Eco City, which enables residents to get to their offices in minutes

Developers of Global Eco City (GEC) say it is eco-friendly, self sustainable, energy efficient and master-planned community offering an ecologically balanced way of life, while making lifestyle affordable — all at the same time! Touted as the most practical place to live in, it is being targeted at a niche clientele — those who are nature lovers, health conscious, and smart investors.

This development is on expressway (NH-8), at a 45-minute drive from IGI Airport, and is part of the NCR. Falcon Realty, developers of the project, claims GEC is unique and enumerate its salience as under:

· It is on a signal-free 45-minute drive from IGI Airport, New Delhi

· GEC is the epicenter of Tourism-India’s Golden Triangle (Delhi-Jaipur-Agra)

· 30 minutes from Reliance SEZ/Manesar

· 10 minutes from Honda car plant

· Only 5 minutes from DMIC (Delhi-Mumbai Industrial Corridor), also called the dedicated freight corridor, at Bawal

· JETRO (Japan External Trade Organization) and RICCO are actively operational in this zone

The other features of this ecofriendly township are its secured and gated complex; 80-feet wide internal roads; naturally shaded walkways planned to be covered by 30 lakh trees and plants; golf carts and biking zone; low density housing; a pollution-free and garbage-free zone — and all these will create a ‘oxygen factory and lungs of NCR’, says the GEC prospectus.

Bhim Yadav, the CEO of Falcon Realty, says that the township has been so designed as to be “self- sustainable on the food front. Solar energy is being utilized as the backup for our common lighting in corridors and streets in GEC, besides thermal energy. And, to cater to the health and knowledge of residents, we are building a Medi-City, and are also planning to set up knowledge-based enterprises within the campus itself.”

Helping the society at large:

Falcon says GEC will help decongest Delhi, which is over populated and polluted. Since it is part of NCR, and in close proximity of a signal-free expressway, its residents are connected by a ‘green transport’ corridor. The project has also been envisaged to decongest Delhi, which sees a massive influx of highly educated populace from all over the country every year, and puts an enormous strain both on its social as well as commercial infrastructure. And while many of them are able to satisfy two basic necessities, viz ‘roti, kapda’ (food/livelihood, clothing), the third necessity, ‘makan’ (housing) remains largely unfulfilled. Falcon claims its eco-city is in a position to offer an option to these milling populace as far as the ‘makan’ is concerned. The developer further says GEC has been designed in such a fashion that it allows residents to travel by community transport — CNG air-conditioned shuttle buses connecting the nearest Metro station, Iffco Chowk and Gurgaon in 30 minutes. Here at Iffco Chowk, Gurgaon our lounge has been designed and conceptualized for the comfort of residents from where they shall be commuting to the respective offices.

Energy efficiency:

The eco-city has been designed on the lines of the Mughal architecture, especially in regard to natural cooling. ‘‘Keeping the natural cooling of the home as base of all our designs, we will use hollow bricks to maintain the outer walls warm in summers and cooler inside, and vice versa in winters. Also, use of wide windows helps in conserving energy as you don’t need to switch on the light in the daytime,’’ says Teelock, the principal architect.

Self-sustainable city:

The developers hope to plant 30 lakh plants and trees to generate more oxygen and build a self-sustainable city by producing organic manure from the waste of fallen leaves and garden waste. This organic manure, Falcon has calculated, ‘‘is enough to back up our acres and acres of farm lands to produce enough organic fruits and vegetables for residents here.’’ ‘‘There will be no escalation on the prices of fruits and vegetables as is the present scene in the market,’’ says an official at Falcon.

Transportation:

‘‘We suggest our buyer do not put their hard-earned money in depreciating assets like cars and bikes - rather, they should invest it in appreciating assets like houses,’’ says the official. Falcon officially encourages its residents to pool up in shuttle buses as it believes this makes for a better living, hassle-free lifestyle, and leaves a much smaller carbon footprint on the environment. The realty firm has made plans to pool 60 people from their business lounge of prime Metro stations, IFFCO Chowk, and IGI Airport to GEC and shuttle them through a network of their own ‘green CNG air-conditioned shuttle buses’.

The GEC club:

Designed to provide ample sporting and recreational activities for all age groups among the estate’s residents, the facility has infrastructure to support games and sports like lawn tennis, horse riding, skating, football, volley ball, polo, table tennis, signature golf, among others. There will also be a gymnasium spa village, an Olympic-size swimming pool for the health conscious, while care has been taken to set up a Montessori school, hobby centre, and crhche for the children.

Courtesy:- TOI dt:- 04-07-09

Tags: real estate india indian commercial complex space gurgaon delhi noida office

WAITING FOR SUNRISE

July 10, 2009 Add comment

0 comments Real Estate Funds

PE BIGGIES IN RACE FOR $300-M STAKE IN USL

What is the property resale market scenario like after a year of slowdown? SYED AMIR ALI HASHMI goes fact-finding

As purse-strings are loosened cautiously across India, the secondary real estate market in Delhi and the NCR, crippled for almost all of this past year of economic meltdown, is looking a little brighter, but it is still not out of the ICU.

Real estate consultants and ground-level brokers have differing views. “The secondary home market in the Delhi NCR region has been showing a significant level of increased activity over the past one-anda-half months,” says Pankaj Renjhen, managing director, north India, Jones Lang LaSalle Meghraj, a real estate consultancy firm. “While transactions in this segment have always been healthier than the primary market, it is only in the past two months or so that resale rates have started climbing again.” The rate of increase is location specific, says Renjhen, but adds that “it is safe to state that the overall increase in secondary home rates is 10-15 per cent so far.”

Better options

Pradeep Mishra, director of Sainik Estates, disagrees. “The secondary market is still gloomy.The main reason is the current availability of residential units in the Rs 15 lakh Rs 20 lakh bracket.Buyers who were holding on to their cash during the slowdown are now focusing on these units instead of paying a higher price for second-hand property.” Renjhen, however, believes that the secondary market will continue to do well as it offers buyers ready-to-move-in homes at reasonable rates, a far better option than the uncertainty of new projects.

Renjhen might pin his faith on the resale market, but others are less optimistic. Rahul Gupta, an investor who has commercial and residential properties in and around Delhi, says that the resale market has gone through the floor. “I invested Rs 50 lakh in a residential property in Kundli, just north of Delhi on NH1, around two years ago. I’m not getting any buyer now. I’d say that only if a person invests with long-term gains in mind, he can, 10 years down the line, reap profits.”

Manoj Sharma, a broker at Faridabad-based Lifeline Properties, pegs the resale revival rate at 5 per cent, not an impressive figure, he feels. “Yes, the market is showing signs of picking up,” he adds, “but the primary market seems more promising.” Like Mishra, Sharma is getting enquiries about homes in the Rs 15 lakh-Rs 20 lakh bracket in new areas.

Mishra also points to another trend: “Many speculators who had bought apartments and watched the prices shoot up during the boom years and then fall again are still holding on to the properties hoping prices will reach those peak levels again — thus affecting the secondary market.”

Short-term investors in desperate need of capital are, however, “coming to us to sell,” says Mishra. “They’re people who cannot afford to wait for the markets to improve. As the market prices are still down and the demand for high priced products is not high they are willing to sell at the original price.”

Affected areas

The impact on the resale market is not uniform across the Delhi-NCR region — it largely depends on the area and the demand-supply ratio. “Established areas with limited supply saw a lesser impact than areas like Gurgaon and Noida where the supply is quite high,” says Vineet Singh, business head, zameen-zaidad a realty portal. “On a city basis, one can say that the Delhi and Mumbai suburbs, Bangalore and Hyderabad have suffered the most,whereas Kolkata and Chennai have seen less fluctuation of price and transactions.”

One major effect of the slowdown has been that it has separated the chaff from the grain —during the boom,even areas not so well-developed wereseeing brisk business in real estate because the returns promised to be quick and gratifying; but that's not the case now. “Peripheral areas that saw little or no development and were selling only on the basis of boom-time sentiments are showing discouraging results in the secondary market,” says Renjhen. “These areas include Manesar, Daruhera and areas beyond Faridabad, such as Palwal, whereas more central and developing areas have started to see a revival.”Areas in Delhi where the secondary market seems to be recovering fast include Greater Kailash, Green Park and Lajpat Nagar. In the NCR region, demand is inching upwards in Noida, Gurgaon, Indrapuram and all residential areas with sufficient amount of commercial space.

Price correction

Summing up, Kumar Gera, chairman of the Confederation of Real Estate Developers Association of India (CREDAI), says that real estate is a sentiment-driven market. He is of the view that during the time of slowdown, real estate saw a price correction of 10-40 per cent, depending on location, supply and demand. “The market is now picking up,”he says. “But the problem is that if the market saw a fall — selling 20 units instead of 100,it would take time to reach that level again. Even if the market picks up 20 per cent, the sale will move only to 24 units.So,it makes sense to say that the (recovery) process has only just started

Courtesy:- HT dt:- 04-07-2009

Tags: real estate india indian commercial complex

July 9, 2009 Add comment

0 comments Real Estate in India

SBI CUTS HOME LOAN RATES FOR FIRST 3 YEARS

Blackstone, KKR & Capital Submit Term Sheets

Vijay Mallya-led United Spirits Ltd (USL), the world’s third-largest spirits marketer by volume, has received three term sheets from private equity giants Blackstone, KKR and Capital International for buying a stake worth $250-300 million in the company.

People familiar with the development said USL’s talks with financial investors are proceeding concomittant with other plans to raise cash and pay off a part of its debt. On Tuesday, USL sold 10.28 million treasury shares in the stock market raising around Rs 1,000 crore.

The three PE funds are currently doing due diligence and a possible transaction with anyone of them would happen at a slight premium to the prevailing market price sometime soon. The deal could see about 10% of the firm changing hands. The story broke on ET NOW on Tuesday afternoon.

People close to the development said USL will probably be issuing fresh shares to the new investor, along with the sale of the remaining treasury stock. The spirits major had a bank of 18 million treasury shares that was formed when the overlapping capital from the merger of group firms was put into a trust. A substantial portion of this was offloaded in the market on Tuesday. After Tuesday’s stock market transaction, the promoter holding, including the remaining treasury shares, is estimated at over 40%. The issuance of fresh shares may see the promoter holding getting diluted, but not significantly.

Banking officials said a private equity transaction may take some definitive shape in the next 45 days, but another person familiar with the situation said it was almost entirely dependent on the due diligence and the shape and direction of the stock markets. Fund-raising through a qualified institutional placement (QIP) is another option even though it is not the preferred route at the moment.

USL carries an overall debt of Rs 6,900 crore that arose out of its acquisition of Whyte & Mackay in 2007. It is believed that the company may be aiming to reduce the debt by Rs 2,000-2,500 crore.

A recent IDFC-SSKI report said there was no immediate pressure due to repayment obligations. USL is expected to pay back $90 million towards the Whyte & Mackay loan—in two equal tranches during the current fiscal–and it is rather comfortably placed with a cash profit of $140 million on an annualised basis.

Courtesy:- ET dt:- 01-07-09

Tags: real estate india indian commercial complex space gurgaon delhi noida office

July 9, 2009 Add comment

0 comments Real Estate Funds

‘INDIA, CHINA WILL SEE 8% GROWTH NEXT YEAR’

State Bank of India has launched two special home loan schemes that assure low interest rates in the first three years, upping the ante for its rivals in the mortgage market, which has turned bullish following a pickup in home sales in May.

HDFC has said it will take a view after the Budget, which is only days away. ICICI Bank said it has reduced interest rates in line with the movement of systemic rates and deposit costs since December `08. “We believe that the home loan segment has robust potential and we would continue to focus on this segment,” said an ICICI Bank spokesperson. LIC Housing Finance—the second-largest mortgage finance company—has also reduced home loans for existing borrowers by 50 basis points.

The intensity of the competition between SBI and HDFC is evident from claims and counter-claims from both sides on the superiority of their product. “Even if the borrower gets a better deal for the first three years, his payment over the remaining tenure of the loan will be lower under an HDFC loan,” said HDFC joint MD Renu Karnad. The institution’s chairman, Deepak Parekh, had recently announced a possibility of lending rates coming down if there is a decline in cost of funds.

According to Ms Karnad, there has been a remarkable pickup in home sales. “We are seeing this because of a real reduction in property prices. Builders like Unitech and Lodha have brought down rates in Delhi and Mumbai and are seeing growth in sales.” She added that the pickup in sales was so sturdy that prices have started picking up again—a perception echoed by SBI. “There is a definite pickup in home purchases partly driven by a fall in cost of loans and real fall in property prices. There are pockets where the resurgence is so good that property prices have started picking up; it has come a full circle quickly,” said an SBI official who did not wish to be named.

The official said rates have bottomed out and there is a possibility that they may go up marginally in the medium term. The official added that the bank has lent up to Rs 7,171 crore till the end of May `09 under the special scheme that offers loans at 8% for the first year. This is a sizeable number considering that disbursements during the whole of FY09 was Rs 9,372 crore. SBI has a home loan portfolio of over Rs 56,000 crore.

Special rate of 8% for 1st year

“There is a concern among borrowers that a rise in rates will increase their liabilities. We are telling them that their EMIs are frozen for the next 36 months,” she said.

SBI has introduced two new products—SBI Easy Loan for amounts up to Rs 30 lakh and SBI Advantage Home Loan for loans above Rs 30 lakh. Under both these schemes, the interest would be applied at a special rate of 8% for the first year. Under SBI Easy, interest rates for the second and third years are fixed at 9%. From the fourth year, the customer can choose between a floating rate of 2% below the State Bank Advance Rate (SBAR) and a fixed rate of 1% below SBAR with a five-year reset. SBAR is the bank benchmark rate to which all floating rate loans are pegged.

Under SBI Advantage, the interest rate is fixed at 9.5% per annum for the second and third years. From the fourth year, the customer can choose between a floating rate of 1% below SBAR and a fixed rate of 0.5% below SBAR with a five-year reset. At present, both ICICI Bank and HDFC charge 9.25% for loans up to Rs 30 lakh. For loans above Rs 30 lakh, HDFC charges 9.75% and ICICI 10-11%.

The 8% special rate was introduced by SBI in February 2009. This scheme was brought out by SBI as an adjunct to an industry-wide special home loan scheme introduced by the Indian Banks’ Association at the behest of the government as part of its stimulus package. Although the scheme ends on Tuesday, many bankers feel a new scheme could be announced.

Courtesy:- ET dt:- 01-07-09

Tags: real estate india indian commercial complex space gurgaon delhi noida office

July 7, 2009 Add comment

0 comments Real Estate in India

Robert Parker, vice-chairman at Credit Suisse Asset Management, believes growth will accelerate in emerging markets, notably China and India, helping these countries decouple from developed economies. Parker, who has spent 27 years in various positions at Credit Suisse, spoke with ET NOW on a wide range of issues, including sustainability of the nascent recovery in the global economy and the likelihood of asset bubbles fuelled by cheap money.

How convinced are you that the global economy has turned the corner?

I do think that in the developed economies — the US, the UK, Europe and Japan — the very dire recession that we saw in the fourth quarter of last year and in January and February of this year has clearly come to an end. I do think that in the developed economies, we will see stronger economic data in the third quarter of this year. For example, US economic growth could be as high as 2-3%, and I think, we will see positive numbers in Europe and Japan for the second half of 2009. Having said that, some factors could constrain recovery in 2010, and consequently, I think that growth in the US and Europe could struggle to be much above 1% in 2010. Constraining factors are obviously the lower levels of bank leverage — bank lending is recovering very slowly — and also consumers rebuilding their savings and a reduction in consumer borrowing and also the dead weight of unemployment. Unemployment in the US and Europe is probably going to average at 9.5-10%. So, there are factors which are probably going to result in a very mediocre recovery on a two-year time horizon. One positive thing, however, is that you are going to get decoupling between the developed economies and most of the emerging markets. Consequently, next year, I think, we could see Chinese growth reaccelerate towards 8%, likewise in India. Latin American growth will be much higher — probably double the level we’ve seen in the first half of 2009.

Do you believe that coupled with loose monetary policy, the very high correlation in asset prices — commodities and equities in particular — that we’re witnessing now is going to set us up for more asset bubbles and potentially cause a hard-landing in markets?

I think, the Federal Reserve is going to keep the federal funds rate between zero and 25 basis points, probably for the next nine months. In the UK, the Bank of England is going to be stuck with a policy rate of 50 basis points at least for the rest of this year. So, with very low money-market rates, I think, there will be a steady flow of capital out of money-market funds. Investor cash levels are still very high in institutional and retail firms. So, capital will flow into equities and other asset classes. The correlation between commodities and equities, this year, of course, has been perfectly logical. Economic recovery means that the demand-supply balance for commodities has been tightening up, after the very weak demand-supply situation we saw in the second half of 2008 and early 2009, and clearly, an improved growth outlook is positive for equity markets. I think, however, this rally in equity and commodity markets could start to fail towards the end of this year and going into the first half of 2010. If I am right, the developed world only has a growth of around 1% next year. Clearly, the demand for commodities from developed economies is going to ease off at a time when in certain commodity markets — notably oil and other energy sectors — supply is reasonably easy. So, I think, further upside in energy prices is very limited, indeed. In 2010, I don’t think, we are going to have an asset bubble in equities. Obviously, price earnings ratios are higher today than just three months ago. I think, it’s going to be a year where defensive equities will outperform cyclical equities given my growth outlook.

Courtesy:- ET dt:- 02-07-09

Tags: real estate india indian commercial complex space gurgaon delhi noida office residence buy property home loan agents funds

GOVT MAY BORROW RS 40K CR MORE IN FY10

July 7, 2009 Add comment

0 comments Real Estate in India

The bond market is waiting for Monday’s presentation of Budget 2009 for clarity on the additional borrowing target, being estimated at around Rs 40,000 crore.

The finance ministry is working out the increase in target, which will determine the changes in the borrowing calendar, a senior official at Reserve Bank of India said on condition of anonymity.

While the increase is expected at around Rs 40,000 crore, alternate means of raising debt will be explored if higher borrowings are announced, he added.

The borrowing calendar gives the schedule of government bond auctions and the mix of securities on auction. The government would have raised Rs 1,62,000 crore in the current fiscal year, Rs 15,000 crore higher than the projection.

The size of increase in borrowings is a concern as the rising debt burden would crowd out productive private investments and a high debt-to-GDP ratio will add to inflationary expectations as the faith in the government’s openness to make necessary fiscal adjustment declines.

The markets have already factored in an increase of up to Rs 50,000 crore in borrowing targets for the financial year, and a higher figure is expected to push up yields, four primary dealers in government paper said in a consensus.

“The market expects the fiscal stimulus measures announced in the Budget to be in the range of 1% of GDP. So, the yields have already factored in an additional borrowing of Rs 40,000 crore, an upside risk to this can lead to firming up of the yields,” said S Raghavan, head of treasury at IDBI Gilts, a primary dealer in government paper.

However, some economists expect the additional borrowings to be way below the market consensus. The additional borrowing could be as low as Rs 10,000 crore as the government inflows from disinvestment and 3G auction will help the government in plugging the fiscal gap, said Abheek Barua, chief economist at HDFC Bank.

“The markets are factoring in an increase of close to Rs 50,000 crore. At Rs 10,000 crore, our estimate of additional net borrowings is much smaller. This is likely to send the yield on the 6.05% 2019 paper lower to 6.25-6.3% from its current trading range of 6.9-7.0%,” said Mr Barua.

Yields across maturities fell on Wednesday as banks took positions as statutory reserves at the start of new quarter and no auction is announced for the current week. Traders pointed out that yields will ease only to a limited extent before the Budget.

Courtesy:- ET dt:- 02-07-2009

Tags: real estate india indian commercial complex space gurgaon delhi noida office residence buy property home loan agents funds

CASHING IN ON LOW REAL ESTATE PRICES

July 6, 2009 Add comment

0 comments Real Estate in India

This is a good time for small firms to acquire that coveted office space they always wanted

Every problem presents an opportunity. And a number of small and medium sized Indian companies have spotted the opportunity this time in real estate’s. For many of these companies high rentals had been a stumbling block to expansion when the going was good. Now that real estate costs have rationalised this maybe the right time to buy or lease office space. Compared to a year ago, rentals are down 25-30% on average across the top eight cities of India. Some areas have been affected worse than others. According to real estate consultant Cushman & Wakefield, rentals in Mumbai’s Lower Parel are down 39%, Worli has seen a 38% dip and Andheri rentals have been impacted by 33%. In the Delhi NCR, Gurgaon is down 26%, Noida is 20% lower and Jasola, an emerging business district, is down 24%. Even capital value of office space is down 20-25% on an average.

Tecpro Systems is in the material handling business, and the company grabbed the opportunity to buy a new office in Mumbai’s Malad suburb. The 4,000 sq ft office came at a 25% discount compared to rates in the same area around eight months ago. The company will now be shifting from its 2,000 sq ft rented premises to this new location, which will cater to future expansion as well. “Looking at the real estate market this is just the right time to buy,” says Amul Gabrani, managing director of Tecpro Systems. “We are getting feelers from the market that this is pretty much the bottom. If we wait, prices might start to go up.” He was referring to his search for another 10,000 sq ft of space in Gurgaon to add to the existing 16,000 sq ft in the city.

“Rentals and capital values are close to the bottom. There might still be a little correction in the future. But there will be never a better time to start

looking or to close deals at these decreased prices,” says Kaustuv Roy, executive director, Cushman & Wakefield India.

This is also a good opportunity for companies to move out of space they had rented out during the peak of the real estate boom. A prominent financial services firm in Kolkata recently finalised a deal to buy 14,000 sq ft of space to replace their rented premises of a similar size. “We rented the space in 2007-end when the rentals were touching the roof. The high rental was a constraint for us. Today, there is an opportunity to buy and so we are,” says a spokesperson for the company. This means that there will be no immediate reduction in cost for the company but the previous rental amount will pay for the EMI in the new property. “In the bargain we are creating an asset for the company. In 7-8 years, this property will break even.”

“Companies, both big and small that are still growing, are looking at relocating to cheaper office space options to take advantage of the slump in the real estate market. This is a good time as rentals are at the lowest levels,” says Prashant Kaura, founder and director of Gen-Real, a property consultancy firm.

It has always been difficult for SMEs to set up offices in prominent locations in cities, primarily due to the high cost of renting or buying space. The slowdown has definitely changed the scenario. Today, developers who were concentrating on leasing larger spaces because of the huge demand from international companies as well as large Indian corporates are changing tack. They are now willing to lease out much smaller spaces in their buildings. “In some of our buildings where we have floor plates of medium sizes, we are willing to break them into smaller offices and lease them out,” says Juggy Marwaha, VP-leasing at RMZ Corporation.

Landlords, too, are becoming more flexible when it comes to lease terms. The lock-in period for leases has been a standard three years for a long time now but today, a company can bargain and get it down to even one year. One can get a longer rent-free period for finishing their fit-outs and most importantly save on capital expenditure by giving lower security deposits. “Landlords are showing flexibility in taking security deposits as well. The standard was six months earlier but one can manage by paying three months today,” says Kaura.

With lower rentals, there is an option today for companies to relocate to cheaper office spaces and landlords know that. In a bid to reduce the chances of tenants leaving, landlords are coming around to the idea of rental re-negotiations. Many companies have successfully managed to renegotiate rentals and achieve savings in the range of 15-30% in their operating expenditure.

Landing A Good Deal

New telecom players like Etisalat, Datacom, Shyam Sistema and Aircel have got good deals owning to the slump in the real estate market. According to industry sources, Etisalat recently leased 30,000 sq ft in Malad West in Mumbai. The deal, say sources, has been fixed at Rs 80 per sq ft, which is about 30% lower than the rent prevailing in the area six months back. In another deal, the same telecom operator has leased 45,000 sq ft in Vatika Business Park on Sohna Road, Gurgaon for Rs 40-45 per sq ft. The rental here was close to Rs 85 per sq ft a year back. Similarly, Aircel has signed up for 60,000 sq ft of space in DLF Cybercity in Gurgaon for Rs 50-55 per sq ft. The rentals here have dipped considerably from Rs 100-110 per sq ft a year ago.

Building up real estate assets is on the agenda of every company. Now that the opportunity has presented itself, it will be seen who manages to aggressively improve their asset portfolio and take the lead.

Courtesy:- ET dt:- 29-06-09

Tags: real estate india indian commercial complex space gurgaon delhi noida office residence buy property home loan agents funds

RE LOSES 10 PAISA; BONDS END STRONG

July 6, 2009 Add comment

0 comments Real Estate Funds

The rupee ended weaker on Wednesday at 47.90, down from Tuesday’s 47.80, lower 10 paisa, amidst rising oil prices and a stronger dollar, reports Our Bureau in Mumbai.

However, a upswing in stocks checked losses. The dollar rose versus the euro after a report showed improved US consumer confidence numbers on Tuesday.

Dealers now await the release of the Economic Survey on July 2 and the announcement of the Union Budget on July 6 to give a direction to the currency market.

The dollar fell for the fourth-straight day against the euro, as stocks rose on investor speculation that the global recession is heading to a close, increasing demand for riskier emerging market assets. The dollar index that tracks the greenback’s movement against six majors was, however, up 0.1% by late Wednesday evening.

Oil rose above $71, following a large drop in crude inventories in the US, and output disruptions from militant attacks in Nigeria. Goldman Sachs expects the rupee to strengthen. It estimates that for the fiscal ended March 2009, current account deficit of 2.6% of GDP was lower than its expectation of 3.5% of GDP, particularly due to the rapid fall in imports in the January-March quarter.

“Strong domestic demand and its expectation of the output gap closing rapidly are likely to support a strengthening rupee. Our 3, 6, and 12-month dollar-rupee targets are at 47.3, 46.0 and 44.7, respectively,” the Wall Street bank said in a report to clients.

Government bonds ended higher amidst speculation that the Centre may not overshoot its borrowings targets for this year. The central bank on Tuesday said it would buy back debt securities next week. There is no auction of debt securities for this week.

The yield on the five-year benchmark security ended at 6.43% against 6.49% at close on Tuesday. The 10-year bond only saw trades worth Rs 335 crore. When yields fall, prices rise. The government has said that it will sell Rs 34,000 crore of bonds in July compared to the Rs 60,000 crore it sold in June.

Courtesy:- ET dt:- 02-07-09

Tags: real estate india indian commercial complex space gurgaon delhi noida office residence buy property home loan agents funds

ICICI BANK CUSTOMER EDUCATION SERIES

July 4, 2009 Add comment

0 comments Real Estate in India

Convenient modes of EMI payment

Home Loan repayment

When you take a home loan, you make a long-term commitment to the lender. This commitment could span a period of up to 20 years.

During this period, regular payment of EMIs through a convenient mode is very important for both you and the lender.

Regularity of EMI payment

· Non payment or delayed payment can lead to:

o A penalty of 2% on your EMI amount and

o A negative record in your credit report generated by credit bureaus.

· It is advisable to maintain an amount equal to at least two EMIs as balance in your account

There are three modes through which you can make payment of the EMIs of your home loan.

· Post-dated cheques (PDCs)

This is a mode of payment where you are required to submit signed post-dated cheques to the home-loan provider for a tenure specified by them.

· Auto-debit

This is an electronic mode of funds transfer from your savings bank account to the home loan account. To avail of this facility, both these accounts should be with the same bank.

· Electronic Clearing Services (ESC)

This too is an electronic mode of funds transfer from your savings bank account to the home-loan account; you can avail of this facility if your savings bank account and home-loan account are with different banks.

To summaries, ECS or Auto-debit is a convenient, safe and economical way of making regular periodic payments.

Courtesy:- ET dt:-1^st July 2009

Tags: real estate india indian commercial complex space gurgaon delhi noida office residence buy property home loan agents funds

SEZ DEVELOPERS GET NOD TO RAISE FUNDS OVERSEAS

July 4, 2009 Add comment

0 comments Real Estate Funds

LUCKNOW DEVELOPMENT AUTHORITY AGAIN IN THE EYE OF A STORM

The finance ministry on Wednesday reviewed its policy on external commercial borrowings (ECBs), allowing developers of special economic zones (SEZ) to access cheaper funds from abroad for infrastructure development in the zone.

Permitted through the approval route, the relaxation in rules will help SEZ developers bring down their development cost to a large extent. However, it has been clarified that ECB will not be permissible for development of integrated township and commercial real estate within the SEZ.

So far, ECBs were permissible for the infrastructure sector that was defined as power, telecommunication, railways, road and bridges, ports, industrial parks, mining, refining and exploration and urban infrastructure projects.

As per the current policy, ECBs are allowed for units in SEZ for their own requirements, not for development of the zone.

Further, the government has clarified that corporate which had been under investigation by the Enforcement Directorate and the Reserve Bank of India for violation of foreign exchange rules would have to compulsorily go through the approval route and would not be allowed under the automatic route.

Other aspects of the ECB policy such as $500 million limit per company per financial year under the automatic route, average maturity period, guidelines on the end-use and lender and reporting arrangements have not been changed by government.

The government also extended the relaxation given to real estate developers outside SEZ for use of ECB for development of integrated townships, permitted in January 2009, till the end of this year under the approval route.

Non-banking finance companies (NBFCs), which are exclusively involved in financing of the infrastructure sector, are permitted to avail of ECBs from multilateral and regional financial institutions and government-owned financial institutions for on-lending in the infrastructure sector under the approval route.

Courtesy:- TOI dt:- 02-07-09

Tags: real estate india indian commercial complex space gurgaon delhi noida office residence buy property home loan agents funds

July 3, 2009 Add comment

0 comments Real Estate in India

Lucknow Development Authority appeared to be embroiled in a major land scam with its officials selling plots and houses in the plush Vinamra and Vastu Khand areas of Gomtinagar without following the mandated lottery process.

The scam appears far bigger than the one during the Mulayam regime when LDA top brass allotted 28 plots to senior politicians and bureaucrats without lottery. This time, LDA officials allotted 52 out of 90 houses and plots to their favourite applicants. Worse, the plots were meant for SCs/STs, OBCs, MLAs, freedom-fighters and the physically challenged. However, LDA officials kept the rule book aside and allotted the properties to people in the general category.

Courtesy:- TOI dt:- 01-07-09

Tags: real estate india indian commercial complex space gurgaon delhi noida office residence buy property home loan agents funds

GLOBAL OFFICE RANKINGS

July 3, 2009 Add comment

0 comments Real Estate

HARYANA UPS CIRCLE RATE, 10-12 pc Increase for Land Registration; Effective From 29 June

Mumbai gets 6th position and Delhi the 12th slot in the latest rankings of the most expensive office property markets around the world

Mumbai has dropped to 6th place in the ranking of the world's most expensive office markets while Delhi bettered its ranking ending at 12th place. Globally, Tokyo's Inner Central District has taken over London's West End to become the world's most expensive office market, according to a recent survey of 170 cities by CB Richard Ellis.

In the last report (November 2008) Mumbai was in 5th position and New Delhi was 13th.

In this report, Mumbai has dropped to the 6th position while New Delhi is now in 12th place. London's West End is now the world's second most expensive office market, followed by Moscow, Hong Kong's Central Business District or CBD, and Tokyo’s Outer Central District in the CBRE report, which tracks office occupancy costs in more than 170 cities around the globe.

Anshuman Magazine, Chairman & Managing Director, CB Richard Ellis South Asia says, “This ranking highlights the decrease in rentals we have witnessed in the last six months due to a reduction in demand. However, Mumbai continuing to be in the top 10 and Delhi being at 12th place reflects the shortage of prime office supply in India. To reduce office occupancy costs further and facilitate more supply of office space we need to urgently improve our infrastructure and amenities. This would bring our world rankings down further and make India more competitive.”

Financial centres have been most significantly affected by declining occupier demand and, as one would expect, registered the most material decreases in office rents. In many cases, major global office markets have seen occupancy costs fall by20 per cent or more over the last 12 months. Across the 170 cities as a whole, office occupancy costs fell 2.8 per cent over the 12-month period ending March 31, 2009 (on an un-weighted average basis) compared with an increase of 8.0 per cent in the 12-month period ending September 30, 2008. Singapore had the largest year over year decrease in occupancy costs with a drop of 34 per cent.

Some markets did record increases in costs over the last 12 months but these markets such as Charlotte (US), Marseille (France) and Perth (Australia) are very much the exception rather than the rule. Generally, these increases are either due to exceptional local market conditions, such as the completion of a top quality new building in a market where none was available previously, or simply that occupancy costs remain above the level of a year ago despite the fact that they are now falling. Such situations illustrate the uneven way in which the economic downturn is affecting different markets around the globe, according to the CBRE report.

“The great global recession has clearly taken its toll on the world's office markets, particularly those with significant concentrations of financial industry employers,” said Dr. Raymond Torto,CBRE's Global Chief Economist. “The most expensive office markets, as measured in dollars, are considerably less expensive than a year ago and occupiers are now in a strong position to procure prime space at attractive costs. For instance, a year ago office space in London's West end was nearly $300 per sq. ft., while today that space goes for $172 per sq. ft.”

Courtesy:- HT dt:- 27-06-09

Tags: real estate india indian commercial complex space gurgaon delhi noida office residence buy property home loan agents funds

July 1, 2009 Add comment

0 comments Real Estate in India

PARSVNATH DEVELOPERS RESEARCH: CREDIT SUISSE RATING: UNDERPERFORM CMP: RS 84

Even though property prices have ceased to increase in Gurgaon in the 12 months, the state government has implemented a routine hike of 10-12 per cent in collector rates (also known as circle rates) for land registration.

The new collector rates for the `hyper-potential zone', as Gurgaon is tagged in revenue records, would be effective from June 29.

In DLF City (Phase I-IV), where the market rate of land ranges between Rs 50,000 and Rs 70,000 per sq yard, the collector rates has been increased from Rs 19,000-21,000 to Rs 21000-Rs 23,000.

In Sushant Lok (Phase I-III) the collector rates now stand revised at Rs 20,000-21,000 as against Rs 18,500-19,000 per sq yard.

According to government officials, the hike in collector rates is a routine exercise and has nothing to do with the realty market situation.

"The revenue department has its own targets to accomplish on a yearly basis and revision of collector rates is part of the routine exercise. It was during 2007-08 only when we had hiked collector rates by 25-30 percent as there was a major jump in the realty market at that time in Gurgaon," he added.

New collector rates have also witnessed a jump of 10 per cent in HUDA sectors. But collector rates in commercial sectors have been revised to a maximum of Rs 55,000 per sq yard from last year's Rs 35,000 per sq yard.

In villages, maximum hike has been implemented in Dhundahera village, abutting industrial sector Udyog Vihar where the collector rates have been increased to Rs 1.5 crore per acre from last year's Rs 1 crore.

Courtesy:- HT dt:- 27-06-09

Tags: real estate india indian commercial complex space gurgaon delhi noida office residence buy property home loan agents funds

July 1, 2009 Add comment

0 comments Real Estate Funds

Credit Suisse maintains `Underperform’ rating on Parsvnath Developers with a target price of Rs. 75. Credit Suisse revised the NAV estimate up by 83% to Rs 126 on the back of lowering weighted average cost of capital (WACC) and assumes a 5% p.a. hike in property prices from FY11 onwards. They employ an average 40% discount to calculate the target price to reflect high gearing of 1x; its high concentration risk in tier III cities; focus on SEZ and commercial projects (47% of land bank); and unpaid land cost of Rs 1000 crore. With an EBIT/interest cover of 0.9x in FY09 and 0.6x in FY10, Parsvnath will find it difficult to meet its interest commitments let alone Rs 230 crore of debt repayments scheduled for FY10. Further, Parsvnath’s strategy to continue with its land acquisitions for the SEZ projects and not to exit from non-strategic land parcels will put considerable strain on its balance sheet. Parsvnath is looking to gain private equity investment in its projects. Red Fort Capital, a private equity fund has recently invested Rs 90 crore ($18 mn) in a Delhi residential project. Credit Suisse estimates it needs at least a $170 million equity infusion to reach FY10 EBIT/interest cover of 1x. We raise our revenue estimates for FY10 and FY11 by 15% and 13%, respectively, on the back of improved liquidity and a better macro environment. FY10E EPS is expected to decline 30% y-o-y to Rs 4.20 and thereafter increase to Rs 5.14 in FY11E. Parsvnath is trading at a 34% discount to forward NAV and 20x FY10E P/E and 16x FY11E P/E and 0.74x forward P/B.

Courtesy:- ET dt:- 29-06-09

Tags: real estate india indian commercial complex space gurgaon delhi noida office residence buy property home loan agents funds

RIGHT PLATFORM FOR REAL ESTATE DEVELOPERS

June 29, 2009 Add comment

0 comments Real Estate Funds