Homeowners doubt the future Home Values

August 19, 2010 – 3:07 pm

Homeowners doubt these days of the future home values due to which they plan to put their home up for sale if they see the same conditions prevailing in next six months too.

According to a survey, 33% people believed that home values in their housing market are still above the bottom line while 38% believe that they have already reached a bottom.

28% homeowners expect a decrease in home values in the next six months. However, 30% of them are expecting an increase in their local market.

In totality, 27% of homeowners hope for an increase in their home values in the next 1 year, 12% expect a decrease in value, 35% say the value ill be same and 26% don’t have any opinion yet.

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3/5 is Raheja Universal Ltd’s Rating

August 17, 2010 – 7:03 pm

Raheja Universal Ltd’s is rated a three star on the scale of CRISIL. This implies that the proposed issue of Rs. 864 cr. is an average proposal as compared to other listed ones.

Mumbai will soon be gifted around 70 million sq ft of developed area by Raheja Universal out of which 26 million sq ft will be the commercial segment and 44 million sq ft will be residential segment.

The three stars received by the company from CRISIL reflect its strong position in the realty business in Mumbai. Due to its good execution track record and high quality construction, it has been able to maintain its image as a good brand. This brand name has been the major reason for the company being able to command premium prices over its competitors.

Also, other than this, the company owns an area of 1,202 acres across eight Indian cities.

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Lutron To Enter Residential Space

July 20, 2010 – 8:26 am

Living Room, Reverse
PAs the Real Estate Industry of the country gains pace after the slowdown, many different firms plan to foray into the sector. One among them is the Global Lighting Controls Major LUTRON.

Lutron which is present in the country for more than 10 years is likely to enter into the residential apartment space. Till now they have been focusing only on the hospitality sector and high end residential projects.

Lutron’s Country Manager-India, Mr. Manjul Trehan said, “This is a very nascent market, and we have not touched residential apartments yet. But looking ahead, this would be the volume business. We are in talks with a few real estate companies.” Further he added that the company will mainly concentrate on projects where the expenditure on lighting will be more than one lakh.

The company is looking at 2-3 players in the eastern part of the country but the region is likely to contribute very minimally to the firm’s earnings. Mr. Trehan hoped to double the figures in the next few years.

Even though the company was not badly affected by the slowdown in the market the present and the coming year look challenging for the company.

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Embassy Properties Plan Realty Projects

July 18, 2010 – 12:08 am

Rainy View
Photo by avlxyzEmbassy Property Development, a Real Estate Firm has planned a public issue of Rs. 2400 cr to Finance Realty Projects. It has already filed Draft Red Herring Prospectus (DRHP) with the market regulator SEBI.

The firm also plans on considering pre-IPO placements of Rs. 1175 cr worth of equity shares.

Embassy Properties have joined ventures with a Malaysian company Azikaf SDN BHD, a member of Emkay Group to develop a business park in Cyberjaya, MKN Embassy Techzone. This will be first real estate development outside the country.

Presently the company is developing 49.65 million sq. ft. area. It includes 63 international and domestic projects.

The proceeds from the issue will be used to finance the construction and development of ongoing projects, investments, associates, paying loans etc.

The book running lead managers to the issue are Nomura Financial Advisory and Securities (India) Pvt Ltd, UBS Securities India Private Limited, Edelweiss Capital Ltd.

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Shapoorji Pallonji Group Focus Infrastructure

July 16, 2010 – 9:56 pm

221 34th St, Manhattan Beach Living Room
Photo by millerm217The multi million Shapoorji Pallonji Group, India’s one of the oldest and biggest industrial house, is putting major focus on “owned” infrastructure as far as the roads, ports and power are concerned. This has been done as the company approaches 150th year of operations.

Mr. Shapoor Mistry, Group MD said during a function in Mumbai, “We have done a lot of projects under our company Afcons as contractors; now we will give a greater push for ownership-based infrastructure projects. We have already done some work in these areas, but owing projects would be our key focus.”

The group’s interests lie majorly in Real Estate, Construction, Textiles, Apparels, Shipping and Water Purification Appliances.

Shapoor’s father, Mr. Pallonji Mistry, Chairman, Shapoorji Pallonji Group is reportedly one of the largest shareholders in Tata Sons with 18.5% stake in the salt-software corp. house.

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Embassy Firm Plan To Raise Funds

July 13, 2010 – 8:17 am

Money... Major reason of voilance
Photo by raman..exploring myself..A Real Estate firm Embassy Developers is expected to generate over 513 million US Dollars as said by their Prospectus which was filed today. This will be done through an initial public offering of shares.

The draft is available on the Edelweiss website. The lead running managers for the issue are Nomura, UBS, Local Investment Bank and Citi.

The prospectus included that Embassy property is looking at pre-IPO placement of around 57 million shares for up to 11.75 billion rupees with certain investors. The retail investors may be offered a 5% discount on the issue price.

Though the time line is not yet been set.

The Indian companies have raised a lot of money through share sales by mid-June of FY10 from 56 issues which is higher than last year, as shown by the data collected by Thomson Reuters.

India has also asked bids to appoint 4 banks for managing a follow-on public offering in state-run Power grid Corp of India.

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Second Annual Convention Of NAR

July 11, 2010 – 10:49 pm

Venetian Grand Hallway
Photo by respresThe Real Estate Agents Association of Chennai is all set to host the annual convention of the Indian National Association of Realtors. This will be the second year of the meet.

It will be a two day event that will take place on July 16 and 17 at the seaside Radisson Resort temple bay at Mamallapuram. The town is situated 45 km from Chennai.

The participation of around 400 delegates from around the globe is anticipated.

They will discuss on matters related to the developments in real estate as well as the opportunities and the challenges. Some other topics of discussion will be legal aspects of transactions and case studies, retail, industrial and warehouse marketing.

The event will include a seminar which will be addressed by an expert panel on a wide range of topics and also a workshop by Mr. Marcus Wally from UK on Marketing Real Estate for Profit.

It will be a good opportunity for people of the trade to exchange cards and information.

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Realty Prices To Further Shoot Up

July 9, 2010 – 8:31 am

100409-SthSth029a World Bank
nIt is very likely that the Real Estate prices in the country will shoot up further with the Finance Ministry’s decision of not withdrawing 2.5% service tax. This move was proposed by the Urban Development Ministry in the budget of FY10-11.

The budget had earlier proposed this tax on all under-construction projects. And it is common knowledge that eventually the customers will have to bear the burden and not the developers.

The declination came as no less than a shock to the Urban Development Ministry. Its Minister Mr. S Jaipal Reddy argued with the Finance Minister Mr. Pranab Mukherjee in the favor of the move in April this year but it could yield no results evidently.

The ultimate sufferers will be the Indian middle class who already has to bear the burden of inflation in almost all other spheres but also dreams of owing a home of their own!

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Mondon’s Indian Partner Goes Bankrupt

July 6, 2010 – 10:37 pm

Proceed with Caution
Photo by bartmaguireIn a recent development the local partner of Mondon Investment Ltd. went bankrupt. Following the event Indian banks initiated a foreclosure proceeding against Fishman Holding’s Indian development arm project.

They were to construct a mall in Ludhiana, Punjab.

The project company ended up in violation of their financial covenants to banks after Mondon’s partner violated their covenants financially.

The loan was not repaid by the end of May through the joint venture as a result of which bank had to open up legal procedures.

Mondon plans to take legal action against its partner on the account of breach of contract for damage to the firm because of the joint venture.

They had bought 121-hectare site for the mall for NIS 26 million two years back.

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RBI Tighten Ropes On Real Estate

July 6, 2010 – 9:10 am

State Bank of India, Kochi
sIn a recent development the Reserve Bank of India along with the Department of Industrial Policy and Promotion are working to streamline and regulate the access and use of Real Estate Firms regarding the External Commercial Borrowings (ECBs). This will be done through a monitoring mechanism which will ensure stricter norms from now on.

RBI took this step in lieu of Real Estate Companies planning to raise ECBs worth Rs.4000 cr in the future and using this money for activities that cannot be funded through ECBs which will eventually adversely affect our economy.

Presently, Real Estate Companies that are only into developing integrated townships of various sizes are allowed to make use of these ECBs provided it is being used only for activities that are related to the construction of the townships. Now even this window will not be available by the end of this year.

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Indian Realty Sector And Overview

July 4, 2010 – 8:53 am

The Final Frontier
PtIndian Real Estate Market has grown with time. The main reason for the accelerated growth can be contributed to the fact that the industry is very flexible in nature.

The development has caused higher aspirations for better standards of living and a good quality of life.

The rapid increase has been because of the relaxed policies of our government regarding Foreign Direct Investment which favors economic development of the country as well as easy Home Loan terms and conditions with an increase in the income of people, degree of urbanization, and their purchasing power. All this has helped shape up the Indian realty sector.

Some of the factors that have given a boost to the Indian Real Estate Market are the FDI policies have increased the amount of Foreign Investment in India. Owing to this our country ranks second most preferred location for Real Estate Investment in the world.

After Agriculture Industry, Real Estate has become the second highest employer.

Real estate whether Residential, Commercial, Retail is being developed on full scale in many different cities of the country.

The large number of people getting education in India will demand over 100 million sq feet of office and industrial spaces.

More so, India has been a host to Fortune 500 companies which in turn attract more companies to make this country their operational base which will also require more office space in future.

Thus it is evident that the Real estate Industry in India will see a lot of work in the years to come.

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RICS Plans To Reform Indian Realty Sector

July 2, 2010 – 1:09 pm

RICSanIndian Real Estate Developers have fastened their seatbelts to come at par with their counterparts in other parts of the world. This has been started by the formation of new boards and committees which will include leaders from the Real Estate and Infrastructure sector of the country.

The move was initiated by RICS (Royal Institution of Chartered Surveyors) India.

The persons in the committee will mainly focus on developing standards and practices in the Indian Realty Market to increase the level of professionalism and transparency among professionals as well as bring reforms in policies for the benefit of people at large and overcome barriers obstructing the growth of industry.

The various challenges that have to be met are the currently fragmented and old legal system including the current laws on land acquisition, problems associated with Rent control laws, providing infrastructure facilities keeping pace with the speed of urbanization, lack of skilled professionals in the industry, among others.

As said by Sachin Sandhir, MD, RICS India, “As the mark of property professionalism worldwide, RICS aims to develop professional knowledge and standards in India and protect public interest through best practice regulation. We are pleased to be represented by India’s most established and respected professionals in this industry and are confident our new Boards and Committees will enable us realize this goal”.

An Agenda-driven conference on the issue saw participation from various Government bodies such as SEBI, National Housing Bank, Ministry of Corporate Affairs. Matters that were discussed were the need for valuation reform and the directions for future practices for the Real Estate Industry.

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Asia Invest More In UK Than UK Itself!

July 2, 2010 – 1:02 pm

Changed priorities ahead
dAccording to a study conducted by a Global Property Consultancy Firm Asia is the biggest investor in UK’s Realty Sector particularly Central London. This has been possible because of decreased value of pound and strong Asian economies.

The report showed, Asians spent around 761 million pounds in fresh properties in London for gains in the current fiscal year. Surprisingly they accounted for 49% of total purchase in the country while only 36% was constituted by the locals.

Asians are expected to put 20% of their money on new build residential properties also.

The report marked a change in the priorities of buyers as now they prefer more high class quality properties than in the last year.

Asia is on  roll for sure even as the effects of recession start to wear off of other countries.

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Real Estate Invesment Trusts In Asia To Rise

July 2, 2010 – 1:00 pm

Asian Continent Location Map
The number of Real Estate Investment Trusts (REITs) in the Asian Continent is going to swell over the coming 3 to 4 yrs according to HSBC. It will be because of increasing call for investments in more risk disinclined properties.

REITs invest in commercial properties mainly and pay rent collected from their properties to shareholders as dividend. This is why some investors see them as safer investments than property stocks.Another advantage is that they usually offer returns that are higher than yields of government bonds.

The increased activity in the REIT IPO market this year especially in the Asian continent is due to successful listing of Cache Logistics Trust in Singapore. Also Sunway City plans to list its REIT in Malaysia come July.

Kern anticipates Singapore to witness most of the activity with more than 20 to be listed there in the coming years from companies all across it’s continent. It already has more than 20 listed REITs such as Fortune, Saizen from Hong Kong and Ascends from India.

This Trend is only to bring fortune to our Country as well.

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Real Estate Collaborates With Education Industry

July 2, 2010 – 9:41 am

Math - Teacher Education
nRealty and Infrastructure firms like GMR and Hindustan Construction Company, HCC have announced to set up university campuses and other educational institutes within India. They mainly aim to ride high on the huge returning education industry.

The education industry in India is worth more than 10 bn US dollars with continuous growth rate. Because the Real Estate market is on a low these days developers are looking at alternate assets such as education.

Partnerships of such kind are increasing day by day in every other township or SEZ as educational institutes bring more revenue.

Chintan Patel, Associate Director, Transaction Advisory Services, E&Y said, “Access to social infrastructure such as schools and colleges serve as attractive features that make it easier for a developer to sell projects.”

Further he had to say that partnerships between a developer and international institution benefits society and develops retail, office and residential spaces around.

The tie ups usually work on build-and-rent business model. While a developer acquires the land and builds the infrastructure for the educational facility, the institute runs the school or college. It either pays rent or works on a revenue-share model.
The companies which are laying out plans in education are HCC who have bought 500 acres for institutes at Lavasa, its hill city project close to Pune, Maharashtra.It has tied up with Symbiosis, Bangalore-based Christ University, Institute of International Business Relations of Germany, Switzerland-based hospitality Management Institute Ecole Hoteliere de Lausanne and Educomp, and more.

Global infrastructure player GMR, too, has collaborated with Canada-based Schulich School of Business to build a campus in Shamsabad, Andhra Pradesh, The Company will construct the physical infrastructure for the institute, and in return, earn management fee on the maintenance of residences and hostel facilities.

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Yatra Capital To Invest More In India

June 29, 2010 – 9:11 am

American Dollar 2
Photo by thinkpanama

Euronext-listed company, Yatra Capital managed by Saffron Capital Advisors, an Indian Real Estate Private Equity fund has announced to invest around 20 million Euros in India in FY10. The company plans to invest the Rs 115 cr in two deals in the domestic sector of real estate. The company has as of now invested about Rs   916 cr in 13 projects which include 2 entity-level details.

The weighted average Yatra Equity Fund covers 27 million square feet spread over nine cities. They have sold or pre let over 3 million square feet across various projects.

The chairman and Co-Founder, Yatra Capital, Mr. Christopher Wright said, “In India, one needs to be very careful on Real Estate investments as the market is volatile. After a drop in 2008-09, the realty sector is now moving up. The Indian economy is growing well making people more confident on future investments. We have invested 44% in residential projects, which would be our focus area in future. We always look at investing in affordable residential projects in tier I and II cities.”

Yatra has invested in 90 cr Residential Project and 97 cr Market City Retail Project at Pune, 115 cr in Riverbank Holdings, 91 cr in forum IT parks and 23 cr in Taj gateway at Kolkata, 160 cr in market city at Bangalore and 57 cr at Nashik.

It has entered partnership with Phoenix Mills for 5 various projects across Bangalore, Pune and Mumbai.

A presentation by Yatra to investors in March this year said, “Most markets have seen positive traction due to price cuts. However, developers have now started raising prices especially in Mumbai and the National Capital Region which has led to a slowdown in sales. Projects where pricing is realistic continue to enjoy healthy absorptions. The monetary environment tightening may impact the fund raising environment for many real estate companies still out to raise money. Investor enthusiasm for participation in realty IPOs remains muted.”

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IL&FS Increase Investments In Realty Sector

June 26, 2010 – 11:05 pm

100 Dollars Money by Photos8
Photo by Photos8.comIL&FS private equity is planning to increase its investment in infrastructure and Real Estate sector by the end of FY10.

They announced to increase their investment from 660 million US dollars to 1 billion US dollars in the infrastructure sector. In the realty sector they already have investments of 1.6 billion US dollars. They are planning to take deals in both the sectors as well.

Mr Shahzad Dalal, Vice Chairman of IL&FS Investment Managers Ltd said, “We will invest close to a billion dollars in infrastructure as well by about the end of this financial year.”

In the realty sector the firm has spent 1.2 billion US dollars from the total investment on over 30 deals. It is said that they are now looking at 10 more. The left over amount is expected to be deployed by the end of this year mainly in residential space along with commercial.
The company recently bagged a deal in the real-estate segment through IL&FS Milestone Fund in HCC’s Real-Estate project ’247 Park’ for Rs 575 cr for a 74 per cent stake.

Mr Dalal further added, “The outlook is fairly bullish on both Real Estate and infrastructure. We believe there are a lot of opportunities. There may not be many good projects, but because of our reach and reputation, we do see some really good projects.”

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Provogue India Enters Real Estate

June 26, 2010 – 7:33 pm

Joint venture

One of the leading apparels brand in India Provogue India announced to enter Real Estate on Friday. Provogue India with it’s joint venture Prozone enterprises has planned to build 300,000 sq. feet of Real estate property in Aurangabad. The project is stated to go on floor in October 2010.

The Managing Director Mr. Nikhil Chaturvedi said that the mega project will be a mix of residential projects and malls.

Also they are planning to launch three residential projects in Coimbatore, Nagpur and Indore by the end of this year.

Provogue also plans to construct 75 stores across the country in financial year 2011 with an investment of 35 cr.

Similarily Century textiles, Alok Industries and Bombay Dying are some other firms planning to develop or sell Real Estate as land rates rise in the buoyant economy.

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India’s First BOP Studios

June 16, 2010 – 9:49 pm

No Outlet
PA very ambitious and unique project has been announced by a Better Option Propmart(BOP) a Delhi based Real Estate Management and Advisory firm. They are set to launch 15 Real Estate ‘boutique’ across the Northern India.

These will be first of its kind boutiques and will be known as ‘BOP Studio’. The idea is based on the model of any walk-in-store for property consultancy and purchase. It will have sit –in-consultants who will provide detailed and free counseling to every customer. The ambience will be of any high class store and will have the database of various projects in North India.

The Managing Director of the company, Mr. Amit Mavi said on the occasion, “You could walk-in, avail yourself of our free real estate consultancy and still not buy any property being showcased. Our aim is to bring the ‘consumer durable shopping experience’ to real estate buyers. We expect people to perceive BOP as a real estate advisory service provider rather than a mere property seller.”
The initial investment in the project is said to be huge that of at least 60 lacs per studio on the infrastructure alone. The firm plans to open 2,000 square feet street outlets at most of the hot spot destinations for Real Estate like Agra, Amritsar, Chandigarh, Jaipur, Lucknow, Kanpur, Noida,  Meerut and others.

The studios will yield profit if they handle at least 10 projects every year and achieve sales of Rs. 150 cr per city. The financial engagement looks tough more so for Tier II cities as the average realization from residential projects there is lower than that in metro cities.

Will this idea become successful, only time will tell?

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Southern Province Picks Up

June 15, 2010 – 11:35 pm

estate sales
.The  Southern Province of India has shown a demand in Real Estate properties over the last few months which is a good news for the people in the realty.

The Realty sector in Hyderabad, Andhra Pradesh has shown sudden upsurge after the recent political turmoil it went through. The demand for both, commercial as well as residential properties have registered a rise.

The trend is more evident in Tier I and tier II areas specifically; making them a high demand market.

Even the prices of the realty sector have improved as the customers feel Hyderabad is the right place for investment which has contributed to increase in the sales.

Raj Kumar, Marketing Manager in a Real Estate firm puts forth, “NRIs, Doctors and Information Technology (IT) people are coming forward for the investment and even some of the central government employees are also coming forward. As you know, now a days comparing with the facilities what we are giving on what rates we are giving, people are seeing benefits and on this basis they are coming forward for investments and showing interest.”

The sector is one of the biggest in terms of number of employees working in the country. It is anticipated that in the next decade the realty sector will grow at a rate of 30% every year. This is bound to attract foreign investors with as many as 30 bn US dollars along with a number of IT parks as well as residential townships being constructed across our country.

Real Estate Investors have one more city to eye for.

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Bangalore- The Silicon Valley Of India

June 14, 2010 – 10:40 pm

Bangaluru has over the years gained immense popularity as the hub for IT industries in India. With great opportunities like world class education, working environment, living standards it is not wrong to mention it as the “The Silicon Valley of India”.

Many non-Bangaloreans now call the city their home. It is interesting to note that over 10,000 dollar millionaires and about 60,000 super rich people are currently living in the city with huge investments to make. All these have made Bangalore a hot spot for Real Estate Market, both Residential and Commercial.

Residential market has seen some significant action with many developers like Prestige and Sunil Mantri, Sobha, rolling out new projects in micro market segment. Some of the key areas in Bangalore, where the residential demand has picked up, are Sarjapur Road and Whitefield, Doddakanenahalli and, Jayanagar.

The supply is growing in line with the revived commercial real estate demand. Latest report from Cushman & Wakefield implores that the total projected supply for the current year is 12.42 million square feet of office space, more than twice the supply delivered in the year 2009.

Hardly
Photo by CarbonNYCIndian Market Research Bureau (IMRB) conducted a survey among 5 cities, amongst individuals aged between 25-39 yrs, stated that Mumbai and Bangalore are the most preferred places to live as the cities provide the best quality of life as well as the most courteous people. Bangalore is also identified as a city which is in the process of development on multiple counters – numerous projects have been initiated in areas of Infrastructure, Power, Water, and Sanitation.

All this indicates that this will be a good investment destination, hence attracting FDIs and NRIs fund flows as time goes.

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Times Property Hosts Home Affairs

June 13, 2010 – 12:11 am

The Times of India brings a reason to rejoice for people looking to buy Real Estate properties as the prices in the realty industry are beginning to rise.

Goa Real Estate Properties - Sapana Sea Mist
Photo by nancyarora2020Times property, an initiative by the Times of India has brought the fourth edition of its yearly mega property bonanza at Bangalore.

The expo titled HOME AFFAIRS is a 2 day event which kicks off on June 12 and is expected to showcase more than 5,000 apartments, independent villas as well as gated communities over the time. Over 50 developers are said to participate in the huge event including Confident Group, Artha Property, Sobha Developers, Sunil Mantri Realty, HM Group, LGCL, Shriram Properties, Salapuria & Sattva Group, Nitesh Estates, Century Real Estate, Hiranandani Upscale, Kumar Properties, S N Builders, Reddy Structures, Krishna Enterprises, Sowparnika Projects, Radiant Structures, J R Housing, Vaishnavi Group and D S Max.

The expo is organized in the light of guiding customers to get the best deals. Surely it’s a one stop destination for Real Estate enthusiasts.

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India Realty Expo’10 in Dubai

June 12, 2010 – 9:03 am

The 13th India Realty Expo 2010 organized by the Maharashtra Chamber of Housing Industry (MCHI) in Dubai was a great success. The exhibition held from June 3, 2010 to June 5, 2010 saw a presence of total 2847 NRI’s. The event’s success can be contributed to the fact that the exhibitors were offering ready properties or possessions between 3-6 months.
Indian_Consulate_03_07_2010-36

The Exhibition was inaugurated by his Excellency Mr. Naresh Mehta, Consul Commerce of India, Consulate General of India, Dubai-U.A.E on June 3, 2010.

Eighteen leading developers and builders from India including Acme Housing (India) Pvt Ltd., Akar Creations Pvt ltd., Ashiana, Delta Group, Everest Developers, Godrej Properties Ltd, Hiranandani Constructions Pvt Ltd, Kolte-Patil Developers Ltd, Marvel Realtors, Nahar Group, Nirmal Lifestyle, Nyati Group, Our Town, Pathy Housing, Prathmesh Construction Pvt Ltd, Runwal Group, Rustomjee, Uma Constructions- represented by United 4 realtors participated in the exhibition.

Mr. Sunit Mantra, President MCHI said on the occasion, “Looking at the factors such as attractive prices of Indian Real Estate as compared to Dubai coupled with a lackluster trend in local markets there, turned out a bonanza for the Indian realtors exhibiting their properties in the Dubai exhibition with investors and genuine buyers visiting in large number this year.”

The Hon. Secretary, MCHI, Mr. Deepak Goradia said, “We have seen tremendous response and turnout for the exhibition this time. Projects in Andheri, Powai, Navi Mumbai, Kandivali, Borivali, Bandra, Ghatkopar, Thane from Mumbai and other cities such as Bangalore, Goa and Pune received a lot of enquires for residential flats. Quality of visitors was good and mostly they were affluent, focused and high end consumers. Moreover visitors showed interest in 2/3 BHK flats ranging from 60 lacs to 1 cr.”

This was the 9th year of the India Realty Expo in Dubai which provides a one stop solution to all the needs of NRIs intending to purchase properties in India.

The Indian Real Estate Industry has only reasons to cheer.

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RE/MAX Forms Alliance

June 11, 2010 – 8:21 am

One of the world’s largest Real Estate franchising networks RE/MAX has formed an alliance with a Bhopal based firm, Vision Advisory Services. RE/MAX proudly boasts off more than seven thousand open offices in 74 countries. This is the first time a company as big as RE/MAX has taken a step towards building a network of Real Estate community on a national level.

Number of Transactions vs Number of Real Estate Agents

The director of Vision Advisory Service, Pradeep Karambelkar said, “We look forward to being a vibrant part of the RE/MAX community and playing an important role in the real estate transactions in Bhopal.”

Vision Advisory Services focuses on ethical and transparent business practices, customer-first-attitude, research-based value investing, implementation of cutting-edge technology and respect for professionalism which has enabled them to create an impact in over 40 cities till date.

Vision Advisory Bhopal has been awarded with many felicitations by almost all major bigwigs of the Investment Industry. Vision advisory well supported by top notch professionals having expertise in well diversified financial services in the areas of  Life and General Insurance, Financial Education, Training Manpower, Stock Broking, Real Estate, Mutual Funds and Resource Management.

It’s a first of a kind initiative taken by RE/MAX India which aims to bring organizing and professionalism in the unorganized real estate market of the country. RE/MAX India is also planning to open Franchisees in major towns and regions of the country.

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RBI Proposes Change

June 10, 2010 – 8:21 am

The Reserve Bank of India on Wednesday clamped restrictions on Urban Co-operative Banks (UCBs) to exposure on realty sector up to 15% of their total deposits.

Real Estate, Home Loans
Photo by Telstar LogisticsSpecified in the circular issued by the Reserve Bank of India , it said the total exposure of UCBs to realty sector, including individual housing loans and commercial real estate, should be restricted to 15% of total deposit resources of any bank.

It further mentioned that the loans granted against the security of any immovable property should be classified as Real Estate Loans. The source of repayment will determine whether the exposure is against commercial real estate.   Moreover, the ceiling of 15% is to be reckoned on total deposits of a bank based on the audited balance sheet as on March 31 of the fiscal year 2009-10.

Only time will tell what this change has in store for the real estate industry.

By Pakhi Kshitij | Posted in Property News | Tagged , , , , , , , , , , , | Comments (0)