India Homes Fair To Be Presented In Muscat By HDFC

February 2, 2013 – 7:38 pm
Aiming to offer best opportunities to the NRIs to own a home back in India, HDFC Ltd presented India Homes Fair, a property fair in Muscat. The two-day fair took place on January 31 and February1.

HDFC Ltd, one of the premier Indian housing finance companies, conducted a two day property fair, titled India Homes Fair, in the Hotel Muscat Holiday.  The property fair; in which 32 renowned and well-reputed Indian developers showcased their projects, remained one of the biggest property events in Muscat. Read More »

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

Foreign Investors Expected To Invest More In India

February 1, 2013 – 7:23 pm
Jones Lang LaSalle predicted that this year India will have more foreign investment. JLL reported that foreign investors are likely to enter India with huge investment plans.

Jones Lang LaSalle, one of the leading global real estate consultancy firms, reported that India will have greater amount of foreign investment in the forthcoming years. According to JLL foreign investors are seeking for a chance to enter the realty market of India. Read More »

By skgupta | Posted in Property Investment, Property News | Tagged , , , , , , | Comments (0)

Infrastructure Status Demanded For Housing Segment

January 31, 2013 – 6:43 pm
The National Real Estate Development Council demanded that housing segment should be given Infrastructure Status. The national council NAREDCO was demanding it as it will enable the developers to meet the surging housing needs.

It is true that the demand for housing unit is increasing day by day. Yet, is this, the giving Infrastructure Status to the housing segment, the sole way to meet the surging demand? Many say this is not. On the other hand by gaining the infrastructure status, the developers can gain large number of tax-benefits and other similar benefits. Read More »

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

Realty Firms Can Run Bank; Finance Ministry Opines

January 30, 2013 – 6:36 pm
Backing realty firms up, Finance Ministry said that RBI could permit realty firms to run banks in the private sector. Finance Ministry made the comment while talking about RBI’s new licensing policy.

While speaking about the new licensing policy of Reserve Bank of India (RBI), Finance Ministry said that the realty firms also should be given permission to run private sector banks. The RBI- Draft Norms came into existence in 2011 prohibits realty firms and broking firms from running banks. Read More »

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

Hyderabad Realty Market Named The ‘Most Affordable’

January 29, 2013 – 7:01 pm
Increase in the number of affordable projects affirms that Hyderabad is the most affordable realty market among all the metros of India. Due to this affordability the city has become one of the most sought after residential markets too.

The number of housing launches increased in Hyderabad. The builders saw the increased demand for housing units. Yes, Hyderabad has become capable of providing better job opportunities to the people of all professions, and so the demand has been growing. To meet the increased demand from the people, developers have come up with large number of projects. Read More »

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

Spice Global To Enter Realty After Footing In Hospital Biz

January 28, 2013 – 7:27 pm
Spice Global has started constructing Saket City Hospital, a multi-specialty hospital in Saket. This is their first in hospital sector. However, Spice Global has acquired land parcels in Mumbai and Punjab for developing hospitals.

Saket City Hospital is the first venture of Spice Global in the hospitality sector. Mr. Bhupendra Kumar Modi, the Chairman and Managing Director of Spice Global, said that they have plans to enter into the real estate industry as well. Read More »

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

Weak IT- Demand Lowers Office Space Absorption In Bangalore

January 25, 2013 – 7:19 pm
Bangalore, most important IT- Hub in India, sees lower office space absorption due to the decreased demand from the IT and ITeS sectors.

Office space absorption in Bangalore is directly related to the performance of IT and ITeS sectors. When these sectors’ demand is better the office space absorption in the city is also better. In the same way when IT and ITeS sectors do not raise much demand then the office space absorption also falls down.

Recent reports from the real estate experts show that the city witnesses a 24% fall in office space absorption. The experts well relate this lower absorption to the weak demand raised by IT and ITeS sectors. Read More »

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

Many Developers Are Default Payers: Say Noida Authority

January 24, 2013 – 5:10 pm

A recent inquiry by the Noida Authority revealed that many of the developers in the city do not pay the amount to the Authority. According to the Authority nearly 50 developers are default payers.

Estimating the amount Noida Authority loses due to the default payment of the builders, the Authority officials might have become giddy. Recent excavation by the Noida Authority into the payment of the developers revealed that the Authority has lost Rs.3000 Cr in forms of default payments.

It was BSP government who introduced the system of providing lands to the builders after they have paid 10% of the total amount. Though the system was meant to help the small – scale developers, the builders have stopped the repayment meanwhile. Read More »

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

Office Space Absorption Lowered: Bangalore Market Affected

January 23, 2013 – 6:50 pm

Compared to the previous year, in 2012, office space absorption fell sharply in Bangalore. The decreased demand from the IT and ITeS sector is pointed as the main reason for this lowered office space absorption.

Office space absorption in Bangalore is always dependent on the IT and ITeS sectors. Whenever there is a higher demand from these two sectors then the city experiences better office space absorption and it is reverse when their demand is lower.

The same has occurred in the city now. Real estate experts opined that the city has witnessed lower office space absorption due to the fall of IT and ITeS demand. According to the real estate experts, office space absorption dropped in Bangalore by 24% in 2012. Read More »

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

PMO Finally Speeds Up Real Estate Regulatory Bill

January 22, 2013 – 7:45 pm

Finally PMO decided to step in to speed up the Real Estate Regulatory Bill.  PMO ordered both the warring ministries to solve the issues and implement the bill soon.

PMO asked both; – the Ministry for Housing and Urban Poverty Alleviation (MHUPA) And the Ministry for Urban Development; to pace up the implementation of the Real Estate Regulatory Bill. PMO gave more hopes that the bill will be implemented in the upcoming parliament session. Read More »

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

Noida Sees Halted Construction, After NGT Bans Builders

January 19, 2013 – 8:27 pm

Prohibiting the use of groundwater for the purpose of construction, National Green Tribunal recently issued an Order. After the ban builders have halted construction in Noida and Greater Noida.

National Green Tribunal (NGT)’s order has prohibited the use of groundwater for construction purpose. As an impact of this order, builders have halted their construction in Noida.

Builders have revealed that they will have talks with the Authorities. The NGT order was issued on last Friday. Many of the real estate builders who have many projects in Noida and G. Noida, stopped their construction and said that they would continue the work only once the authority clear out the issue. Read More »

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

Raised Luxury Housing Demand Mends Sluggish RE Market

January 15, 2013 – 7:09 pm

Real estate market is set to regain smooth sales as there is an improved sale in the luxury housing segment.

India real estate market currently goes through a sluggish momentum. The real estate builders expect that they can overcome this in the year 2013. Sluggishness has troubled the entire real estate developers of the country. Yet they hope to get out of it with improved demand for luxury housing.

There has been a steady development in the sales of luxury housing in Pune. Real estate experts opined that this phenomenon is common across the country yet they said the rate of development is higher in Pune. Read More »

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

Home Launches Drop By 16%: Reports Cushman & Wakefield

January 15, 2013 – 6:26 pm

New home launches in major cities of India have dropped by 16%. Tracking the top eight cities of India, global property consultant Cushman & Wakefield reports.

In 2012 nearly 1,62,000 housing units were launched in top 8 cities of India including Mumbai, Hyderabad, Bangalore, Delhi, Chennai, Kolkata, Pune, and Ahmedabad. 2012’s new home launches are down by 16% compared to the numbers of previous year.

The lower number of home launches shows that the residential market across India is down. Besides the downfall of new home launches, mid- income housing segment has revived as around 83 % of the total home launches are in this segment.

New launches dropped highly in Hyderabad, Bangalore, Delhi, Chennai and Ahmedabad. These cities witnessed a steep fall of new home launches. On the other hand the remaining cities like Pune, Kolkata and Mumbai had improved new home launches.

With 54,500 new launches, National Capital Region (NCR) stood the top of the list. Pune stood second with 24,000 new launches. Mumbai and Chennai, with 22,500 and 20,800 new home launches, stood third and fourth places respectively.

Cushman & Wakefield’s South Asia Executive Managing Director, Mr. Sanjay Dutt said that the realty builders too remained highly cautious about the lull residential market. They withdrew them from bigger residential development due to the lull nature of residential market. However Mr. Dutt said that the year 2012 witnessed some innovative marketing- methods.

According to Mr. Dutt, the lull residential market was the result of slow economic growth and inflation. Due to the increased interest rate, the buyers have become more price- sensitive and this made a worse situation.

To avoid further risks, the crises- stricken builders kept them aloof from developing any residential projects. However there was an increase in the number of property investors who found the money crises of the builders as the best time to enter into the market.

By skgupta | Posted in Projects, Property News | Tagged , , | Comments (0)

CCI Frames New Agreement Between Developers & Buyers

January 14, 2013 – 8:39 pm

CCI will frame a new agreement to smoothen the relationship between the Developers and the buyers. CCI hopes that the new agreement will serve as a benchmark for all commercial dealings.

Competition Commission of India (CCI) will come up with a revised agreement between the property taker and the developer. CCI frames the new agreement on the context of DLF Case in which the builder was alleged to abuse its dominant market position.

Considering the complaint raised by the house owners’ association of two DLF projects in Gurgaon, CCI had inquired the case and penalized the real estate firm for Rs.630 Cr. CCI had found out that the real estate major has abused its dominant market position. Read More »

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

Property Prices: Job-Generation Capacity Determines

January 11, 2013 – 7:56 pm

The cities which generate higher number of jobs are always sought after hotly. Such areas normally have higher prices and this proves that property prices are determined by the job-generation capacity of the city.

Property price of a city is highly influenced by the city’s job-generation capacity. The city which offers higher number of jobs is hotter and property prices are higher in such cities. However the other factors seem weaker in influencing the property prices of the area.

Property prices change according to the changing trends in construction costs and inflation. Yet there is no drastic change in prices as long as the property is located in a highly job-generating area.

Real estate sector grows where there are better job opportunities. With better and higher job opportunities cities like Bangalore and Chennai, both are South Indian IT hubs, other cities such as Pune and Hyderabad achieves greater pace of development. Read More »

By skgupta | Posted in Property Articles, Property News | Tagged , , , , | Comments (0)

Wakf Board,in Hyderabad, Sues Developer For Property Damage

January 11, 2013 – 9:41 am

Real Estate developer, in a rare case, is sued by Wakf Board for damaging Wakf Board’s property.

Realizing that a real estate firm has encroached upon their property, Wakf Board has decided to file a case against the developer. Wakf properties in Lakdi-ka-pul has been encroached by a developer. The issue started with the builder acquiring Greater Hyderabad Municipal Corporation (GHMC) for developing his commercial project.

The base of the case begins with GHMC sanctioning a real estate firm to construct a His commercial structure was to be developed next to Mumtaz Mansion in Lakdi-ka-pul. The builder was granted permission by the GHMC for constructing a G+4 commercial building of 2125 sq. m. Read More »

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

Real Estate Shares Fall Due to Sluggish Realty Market

January 8, 2013 – 6:17 pm

Real estate shares face heavy pressure of selling due to the sluggish real estate market. The pressure was all the more accelerated when the BSE real estate index closed at 1,822.14 in last week.

Real estate shares fall by 3% and this sector faced the biggest fall in the share- market. Due to profit booking the real estate shares are sold under heavy pressure. The sentiment of the real estate investors was adversely affected when September experienced the ten month’s highest inflation of 7.8 %.

Among all the other sectors real estate was the worst hit as the sector faced a 3% decline. There was a steep decline of the shares of all real estate majors as well. DLF shares were sold at Rs.208 after facing a 4.8% decline. Read More »

By skgupta | Posted in Property Investment, Property News | Tagged , , , , , , | Comments (0)

Real Estate Sector Will Boom In 2013: Predict RE Experts

January 4, 2013 – 9:19 am

Real estate experts predict that the year 2013 will be a boom year for real estate sector. In their opinion real estate sector will thrive in 2013.

Real estate sector had passed through a tougher time in 2012. Slow paced and declined market affected real estate sector in India. Low sales and increased construction costs adversely affected the real estate players and especially developers. In short 2012 was a very hard year for them.

Confederation of Real Estate Developers’ Associations of India’s (CREDAI) national chief Lalit Kumar Jain opined that the year 2013 will be a boom year for them. He seemed optimistic regarding the sector’s revival.

For them the year 2012 was a year of loss. He said that this was mainly because nobody initiated any corrective steps. He called 2012 a “lost opportunity” as this could be made a progressive one for them.

Chairman and Country Head of Jones Lang LaSalle India, a Real estate consultancy firm, Anuj Puri was even more confident. He seemed sure of real estate renovation. He stated that real estate boom will be more effective in 2013 second-half.

The Reserve Bank of India (RBI) has permitted commercial borrowings up to $1 billion. Reputable real estate developers as well as finance companies can raise equivalent funds through their external borrowings.

In areas like Noida and Navi Mumbai apartments priced between Rs.4,000-5,500 per sq. ft. were demanded mainly and largely sold. Bangalore too demanded for housing units priced similar. Meanwhile Mumbai faced better demand for homes priced Rs.16,000-19,000 per sq. ft.

Chairman of Knight Frank India Mr. Pranab Dutta said that the new foreign direct investment in retail policy (FDI) would play a significant role in the real estate boom in the coming year. It is expected to improve the commercial space demand to greater extents. Real estate sector may also be able to reap the benefits of new Regulation Bill and the Land Acquisition Bill in the coming year.

By skgupta | Posted in Property News | Comments (0)

Real Estate Investors To Benefit As AMP Launch India Office

January 2, 2013 – 6:53 pm

With the plan to expand worldwide and provide better services to the real estate investors, AMP Technologies opens offices in India.

AMP Technologies, led by Sabeer Bhatia, is a software and Services Company by nature. The firm has announced launch of its India office. The firm plans to employ around 1,000 employees by 2015. The firm strives to aid and serve all real estate investors which are formed across the world.

AMP Chennai office will avail various sorts of information to the real estate investors. The investors can access to this real estate information with any form of computer. The information is available even on mobile devices as well.

Real estate investors need not install any software for accessing any information. AMP Technologies functions without these. The services of AMP enable the real estate investors to maintain and remain up to date with the latest information.

AMP will offer better service worldwide to all real estate managers. Hotmail co-founder revealed that AMP aims to be the top service provider of the entire world. For this and with this aim AMP will provide best possible solutions and services to all the real estate managers.

Sabeer Bhatia and Neel Naicker founded AMP Technologies in the year 2010. From the very moment of its inception to the present moment a lot of R&D had gone into developing its products. AMP Co-Founder and CEO Mr. Naicker revealed this.

AMP Technologies had the plan to offer offshore services to the commercial real estate investors in the beginning half of 2012. The offshore service would cover all real estate investors, operators and owners.

The services will cover the areas of cost-effective measures, lease administration, etc. Besides it will also deal with financial and accounting matters. AMP Technologies plan to expand their services will generate nearly 1000 employment opportunities. At present AMP’s Chennai office has only 250-seat capacity.

By skgupta | Posted in Property Investment, Property News | Tagged , , , , , | Comments (0)

Sahara’s Bid to Lease Air India- HQ Rejected: Reveal AI

December 21, 2012 – 7:35 pm

Air India slapped Sahara India by casting away its bid. Air India rejected the bid of Sahara on the basis that the real estate firm placed its bid for longer period.

Sahara India had placed its bid for Air India’s landmark headquarters at Nariman Point, Mumbai. Though debt- ridden Air India has plans to lease or monetize its real estate assets to cut off its debts, the national carriers do not wish to lease out the property for longer periods. Air India plans to lease out nearly 20 floors of HQ building at Nariman Point. The national carries will keep the top three floors for its office purposes. Read More »

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

ORR Bangalore Termed Most Fertile Commercial Area

December 19, 2012 – 6:55 pm

Outer Ring Road (ORR Bangalore) gives better odds to real estate market Bangalore. A Jones Lang LaSalle India report said that Outer ring road is one of the best performing commercial areas of the city.

According to the latest report of JLL, ORR Bangalore is the best performing commercial area. JLL report also highlighted the rising importance of K. R. Puram – Marathahalli – Sarjapur Road stretch.

JLL’s recent studies show that ORR Bangalore offers better chances for commercial growth. Growth- wise it has become the best performing commercial area in Bangalore. Whitefield is also included in the list yet it stands far behind to the ORR Bangalore. Read More »

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

Noida Authority Released Govt.’s 90 Acres from Intruders

December 15, 2012 – 7:09 pm
The Noida Authority, in its furious action against land intruders, recaptured nearly 90 acres of government land.

In a highly furious action against the land intruders, Noida Authority finally recaptured its land worth Rs.10,000 Cr. Nearly 90 acres of land was freed from the land intruders.

The growing importance of Noida real estate market has attracted many real estate builders to this area. With the aim to make a windfall, many ambitious people have started up constructions without completing any legal formalities. The Noida Authority has warned all such builders and developers who have illegal constructions in Noida. Read More »

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

CCI Fine Real Estate Firm for Anti-Competitive Practices

December 13, 2012 – 7:12 pm
CCI has initiated probe against a major real estate firm which is alleged of conducting anti-competitive practices. Five other major real estate firms are included in the list.

The Competition Commission of India (CCI) has received many complaints against some major real estate dealers being anti-competitive. Nearly five real estate firms are alleged of anti-competitive practices. All of them have to face CCI- probe now.

The five alleged real estate firms are DLF, Omaxe, Tulip Infratech, JP Associates and Larsen & Toubro. They are alleged of conducting anti-competitive practices.

Sachin Pilot, the Corporate Affairs Minister, informed in the RS- Rajya Sabha that these real estate builders are facing the CCI- probe. He disclosed their names and stated that the CCI has already started its probe against these alleged.

Nearly 15 anti-competitive cases are filed against DLF, Mr. Pilot informed in the RS. The same real estate builder is ordered to pay a fine of Rs.630 Cr. Besides the fine, CCI has also passed a “Cease & Desist” order against DLF.

Competition Appellate Tribunal- COMPAT heard the plea of DLF Ltd on last Sunday. The case against DLF has been unsolved for a longer time. CCI had passed the “Cease and Desist” order on August 12 -2011.

The fine of Rs.630 Cr was imposed on DLF Ltd. only after finding them guilty of conducting anti-competitive practices. The real estate builder was found guilty of violating the codes of abuse of the dominant position in the market. CCI gave the order only when it conducted proper probe in to the matters. The probe convinced the CCI that the DLF Ltd. is guilty.

CCI initiated the probe basing on some complaints filed by two DLF flat buyers’ associations. These flat buyers’ associations complained against the real estate firm which had delayed the project unreasonably.

The real estate firm was alleged of constructing more number of floors than the prior plan. These flat buyers of Gurgaon had been shown an entirely different plan of the projects. CCI has received another petition from the flat buyers of one DLF’s Chennai Project. DLF is accused of abusing “dominant position” in DLF Tower Jasola, their commercial project at Jasola in the NCR too.

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

Real Estate Builders Announce Rs.8000 Cr Worth Projects

December 12, 2012 – 7:23 pm

Real estate sector is set to bounce back after its sluggish momentum which the sector has been undergoing for a while.

Real estate majors – Supertech and Ansal API have recently announced their fresh launches. These projects are to be completed with an amount of Rs.8,000 Cr. The real estate majors plan to complete the projects within 4 years.

At the same time some real estate builders are cutting their debts off by divesting their properties. Yet this will not be the case in the coming years. Real estate experts opine that real estate will boom in the coming years. Read More »

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

Nokia Head Office Sold to Real Estate Investment Firm

December 11, 2012 – 7:38 pm

Real estate investment firm- Exilion is said to purchase the headquarters building of Nokia. The deal is expected to be fixed for a price of Rs.1218 Cr.

The financial crises of Nokia prompted the leading handset makers to sell their head building at Espoo, in Finland. Nokia faced severe setback from its opponents like Samsung and Apple. The latest reports show that the handset giant has lost its handset market to Samsung. Read More »

By skgupta | Posted in Property Investment, Property News | Tagged , , , , , , , | Comments (0)