Category: Property Articles

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 »

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Real Estate Builders Exploit Migrant Laborers in Noida

December 5, 2012 – 7:23 pm

Real estate builders raise higher demand for laborers. The shortage of real estate laborers forced Real estate builders to appoint migrant laborers for accomplishing their projects.

Real estate developers point to the shortage of real estate laborers as the main reason for their delayed projects. Real estate sector is the second best employment -provider in India. It stands very close to Information Technology, the top employer sector. Read More »

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Relief for Buyers of Patwari Village.

August 18, 2011 – 4:56 pm

Greater Noida: There’s relief for 20,000 buyers who have booked flats in project in Patwari village, at least for the time being. The Supreme Court told a group of Patwari farmers to withdraw their petitions that challenged the government’s move to make out-of-court settlement with farmers. A section of farmers in Patwari, where the Authority on 6 August 2011 struck a higher compensation-based deal to revive real estate projects, had moved the apex court against the pact. In a related development, a judge heading an Allahabad High Court bench constituted for hearing petitions challenging acquisition of land in Gautam Budh Nagar district recused himself from the case.

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USA Downgrading Impacts on Interest Rates

August 16, 2011 – 12:52 pm

Will the US rating downgrading from AAA to AA+ impact the real estate sector? Will it have a long-term or an immediate impact? Who would get the hit, the residential or the commercial real estate sector?

The good news is that the interest rates might come down in residential segment whereas commercial real estate sector will be hit and the reduction will take place in office space. This is the first time something like this had happened and it is difficult to predict the consequences. It has created uncertainty in the global market and extreme instability across asset classes.

There could be some positives for emerging markets such as India, with the cut of prices of oil and other commodities, inflation too can be controlled adding to it interest rate should come down. Overall, impact on real estate in India could be positive.

The money that pours in will be further used to further for residential development as we already have reasonable capacity for commercial development that still needs to be absorbed. However, in the long run, the commercial property sector take-up maybe an issue, from the demand side from IT/ITeS sector which are closely linked with the USA.

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Metro Connectivity and Real Estate Prices Go Parallel.

August 11, 2011 – 2:49 pm

Metro connectivity and property rates in the capital goes hand in hand , its just like they run on parallel tracks as right from the announcement of new metro connections , property rates follows an upward swing. With Delhi metro gearing up for the Phase III construction that will cover areas like Vasant Vihar, Dhaula Kuan, Munirka , Kalka Ji , lajpat Nagar , Botonical Garden (Noida) , real estate prices are expected to see a major rise in the prices. Metro certainly affectes real estate as it is a major factor to provide a safe and comfortable mode of transport. People prefers homes situated near the metro stations. How ever since the prices have already increased so much that it will be difficult to say how much impact the new lines will have now. Consultants further says that properties which are located near the Metro stations will have the maximum increase in the real estate price.

The entire scenario can be explained in terms of a U curve where in right from the announcement of the projects the price tends to go upwards and then it declines when the construction is underway and again goes up when the project is complete. On an average , a property may see 20-30 per cent hike in price over three years. Proximity to the station may also effects an increase of 35-40 per cent. Due to increase in the rates of properties which are near to Metro stations , the Municipal Valuation committee constituted by Delhi Government has also adviced that the residential colonies within half a KM radius of Metro line would be upgraded by one level since they have witnessed the maximum amount of Infrastructure development.

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RCA for Property Maintenance

December 15, 2010 – 6:08 pm

Cost of rented property maintenance is often common point of dispute between landlords and tenants. Usually, it depends on the mutual terms and conditions as agreed upon and laid down in the lease agreement. The landlord has to ensure that the tenanted premises are habitable and safe, with adequate repairs undertaken. In case a landlord is unable to do so, the tenant may undertake these repairs, with a proper notice to the landlord, mentioning the nature of problem, inconvenience, safety hazards, and the necessary steps required to correct the problem. It should be mentioned that, in case the landlord fails to undertake these repairs within the specified time, the tenant will have it done and will be eligible to recover the amount spent from the landlord. However, this covers only repairs that are essential and urgent.

The Rent Control Acts says, that a landlord is bound to keep his premises in good and tenant-able repairs. If a landlord fails to undertake any repairs, the tenant may do so himself and deduct the expenses from the rent payable to the landlord. This is subject to the condition that any amount deducted or recoverable in any year will not exceed 1/12 of the rent payable by the tenant for that year.

In case of repairs, without which the property is not habitable, and the landlord  fails to do so notice in writing, the tenant may apply to the rent controller under the Rent Act for permission to undertake the repairs himself. He should submit to the controller an estimate of the cost of such repairs too. After considering the estimate of cost, controller may by an order permit the tenant to undertake the repairs. It will then be lawful for the tenant to undertake the repairs and deduct the cost. The costs can be recovered from the landlord.

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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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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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Tips To Make Property Buying Easy

June 8, 2010 – 2:31 pm

Here are some tips that will make your dream of owning a property and the journey involved easier.

1. Choosing The Right Property

Try and get all the information about the builder and the price of the property you are willing to buy in the market along with other general information.

2. Buying a Pre-Launch Propertyhome loan center

Many times developers build properties according to the need of the market within a limited time. This is called soft or pre-launch. This property is cheaper than others by 10-15%.

3. Broker’s Fees

If you plan on buying a property through some broker then his fees will be decided by the property. His fee is to be paid, first, when giving the token money and second, at the time of registration.

4. Token Money

Once you have decided to buy a property, token money is to be paid at that time. According to the price of property token money can vary from Rs.50, 000-5, 00,000. It can vary according to the agreement.

5. Preparing The Budget

Actual price is often known as the Base rate. There are some other prices like car parking, society or club membership, electricity and water. Add all these up and then finalize your budget. Other than this you will have to pay for stamp duty and registration charges.

6. Down Payment

Under-construction or ready flats have different down payment schemes. After giving the token money this comprises of 10-20% of the actual property cost in case of under construction flats where as for ready made property down payment is all the money minus token money.

7. Bank Loan

All procedures regarding bank loan must be completed before giving the token money. Bank decides the credit limit after checking property papers and your income details.

8. Property Registration

After giving down payment and receiving letter of approval from the bank, you must get your property registered.

9. Flat Possession

After the work is finished developer gets a certificate and thus he hands over the property possession to the customer. Customer should check all the details and clear all payments at this time.

10. Facilities Provided By The Builder

After the possession has been given to the customer, builder has the maintenance responsibility of 18 months.

11. Housing Society

After the completion of maintenance period the developer makes the housing society. They get a bank account in the name of the society. This society chooses its representative’s and continue the maintenance work throughout.

Have a happy and safe property buying experience.

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NIREM Offers Specialization in Realty

March 18, 2010 – 11:05 am

fresh off the stage
With the ever growing realty sector in India, the roles and responsibilities of real estate professionals have evolved considerably. This in turn forces a strong need for an efficient background in real estate along with strong professional skills in their functional areas of responsibilities. Since commercial property sector is very new for Indian property market there lies an urgent need the highly specialized real estate professional. Unfortunately, we don’t have any such real estate education program targeted at preparing specialists in commercial real estate.

IDS National Institute of Real Estate Management (IDS NIREM) has taken several initiatives to develop human resources for the Indian real estate market focusing on real estate education, training, consulting & research. Acknowledging the immediate need for specialization in realty management education it launched PG Diploma in Commercial Real Estate (PGD-CRE).this will be a one year distance learning course. This real estate course, patterned on MBA in real estate, is also offered at diploma and certificate level.

This Diploma course will be offered in two segments. First, for those who want to begin their career in real estate including the fresh graduates and MBAs and second for already existing realty professionals who either want to enhance their learning or want specialization in commercial property sector.

This course will concentrate on both knowledge and practical skills to analyze, acquire, finance, and operate real estate assets.

About the Institute:

IDS National Institute of Real Estate Management has been established by ‘The Industry Development Society for Real Estate’, which is a realty sector development and promotion body. NIREM will provide PG level degree, diploma and certificate courses in addition to MDPs, Consulting and Research in different areas of real estate. This institute is planned for Centre of Excellence in Real Estate Education, Training & Research.

In addition to learning programs, it also aims to develop benchmarks for real estate sector, retail & institutional investors and other stakeholders, provide with comprehensive market data to end-users facilitate simplification of asset acquisition and investment process, promote adoption of international standards including the financial and other disclosure norms, best practices and corporate social responsibilities etc

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Reason behind New Delhi’s real estate hike

September 8, 2009 – 11:53 am

Real estate in India
New Delhi has been considered the business of real estate in India. With the growing number of students, tourists and bureaucrats, the real state of Delhi has become an area offered in India. Apartments, houses, land, agricultural and industrial lands, industrial and residential plots, are the main segments in which the real estate industry in New Delhi is thriving. Real estate prices in the city depend on a number of factors, including the location, accessibility, etc. Tourists look out for accommodation that is close to historic monuments and, secondly, the employers look out for residential properties that are easily accessible from the airport, train station, etc. Real estate demand in Delhi has increased more than ever. It has become the preferred place for foreign direct investment and many multinationals have established their headquarters at the site and adjacent areas. The search for a real estate agent recognized as offering real estate in New Delhi, according to your budget and needs. Beyond this, there are some other important factors such as strong economic growth, the recovery of financial markets and investor friendly policies of the government will also increase the demand for real estate in the city.

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Real estate terminologies

September 3, 2009 – 5:30 pm

The common and simple terminologies used (in fact misused)  and often discussed in real estate industry generally end up into lots of confusion.Our aim is to provide an information for a common man  having some kind of interest in sale /purchase or renting of properties.Surely you will find it useful:
A. Built-up area: It refers to the entire floor area including carpet area, walls, lobbies and corridors, atrium areas and basement.
B. CAM: CAM stands for Common Area Maintenance. It includes maintenance of hallways, pathways and utilities.
C. Cap rate: This is also known as Capitalization Rte. It is the return on investment (ROI) on the property. It is measured by the formula: Purchase Price / Net Operating Income from the Property.
D. Carpet area: It is the actual usable area within the walls of the floor.
E. Cash on cash: It is the annual percentage return of your down payment not including appreciation.
F. CPI: The Consumer Price Index is used to calculate the annual rental increase so as to compensate for inflation.
G. Efficiency ratio: Efficiency ratio is generally expressed as a percentage of carpet to super areas of the property.
H. FSI: FSI stands for Floor space index is the quotient of the ratio of the combined gross floor area of all floors excepting areas specifically exempted under these regulations to the total area of the plot.
I. Full service lease: This is a lease where the tenant pays rent to cover everything including utilities.
J. GLA: GLA stands for Gross Leasable Area. This is the total rentable area.
K. Gross lease: This is a lease where the renter pays only rent and the landlord pays the taxes, insurance and maintenance.
L. LOI: LOI stands for Letter of Intent. It is a non-binding offer letter to buy a commercial property.
M. Maintenance charges: These are charges taken by the maintenance society towards the maintenance of the property.
N. Market value: Market value of the property is the price that the property commands in the open market. It is calculated by the valuation process which works on “demand and supply” principle.
O. Mixed use: These are commercial properties with retail on the first floor and apartments on upper floors.
P. Registration charges: These are the fees associated with getting the legal title registered in your name. This legal activity is conducted in the sub-registrar office.
Q. Stamp duty: Real Estate Stamp duty is a tax collected by the Government of India. Stamp duty is based on the market value or the agreement value whichever is greater.
R. Sale deed: Sale deed is the process by which the seller transfers all the rights on property to the buyer.
S. Super area: Super area is the entire area of the building including carpet area, walls, lobbies and corridors, lifts, staircases basements, and other atrium and utility areas.

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Let us find some positive aspects of recession

August 7, 2009 – 2:08 pm

Real estate
Everybody is cursing recession as it resulted into slowdown in market. But, have you ever realized that there is always some positive aspect behind every off-putting phase. Recession has changed the point of views of consumers, lenders and developers as well. Consumers became more cautious during spending their saved money. On the other hand developers shifted their focus towards low cost housing.
Recession has made tremendous changes in real estate, various real estate giants showed interest in housing for middle class people rather than building a huge complex. Investors may seem to be winners with recession giving them an opportunity to pick investments at more realistic prices.

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Mumbai is most preferred property investment destination

July 22, 2009 – 2:48 pm

The financial capital Mumbai now ranks as the most preferred destination for investing in properties, while Chennai has replaced Bangalore.

The survey, “Trend in residential space across top cities in the current scenario” ranked Mumbai as the most preferred destination to invest in property while in south, Chennai is in the first place for property investments, overtaking Bangalore.

Cities like Patna, Nasik, Tiruchirapalli and Madurai have also become choive destinations for property investments, the survey said.

It said 60 percent of respondents felt interest rates for home loan would come down further in the coming months, while 40 percent evinced interests on properties with an area between 500 to 1,000 square feet.

More than three thousand people from the metros and other cities, including Pune, Ahmedabad, Thane, Coimbatore, and Vadodara participated in the survey.

“Market sentiments are reviving and people are ready to invest. Based on our survey, more than 60 percent of customers are looking at buying residential properties in the next six months. They also have a hope that interest rates on home loans will soon come down”, Consim Info Founder and CEO Murugavel Janakiraman said.

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Expatriates’ Struggle For Finding Right Home

August 8, 2008 – 4:58 am

Finding the right kind of place to live in is not that easy when you come down to a different country.

Coming from a foreign land and making India their home is not an easy task for most expatriates, considering the differences in culture, language, lifestyle, habits and so many other small things that we don’t even realize in our everyday lives. It’s definitely not child’s play. Setting up a new home, taking care of intricate details and also making a large number of adjustments is what comprises an expatriate’s life in the initial phase of settling down in a new country. Jim Gainsford , Regional Director (North), CEC shares his experiences of settling down in India.

Talking about how he found a home for himself in the National Capital, Delhi, Gainsford, who comes from the United Kingdom expresses, “I live in DLF Central Park, Gurgaon, Haryana, just outside Delhi and I chose to live here because it is very close to my office. I am single and needed a single apartment close to my office.”

He states that he was extremely fortunate that he was saved of a lot of time while he was house hunting, because he was shown a suitable place in Gurgaon within the first few times only, and thus, did not have to waste his time ‘house hunting’ for long.

Though for Gainsford, Gurgaon is just the perfect place to live in, there are a few changes that he feels will make this area a better area to live in.

“Hopefully, the main developer in Gurgaon will one day make an effort to finish off and tidy up the roads and open space areas linking and between their buildings. Most of the traffic problems in Gurgaon stem from the badly constructed roads which are already in a state of disrepair, a situation exacerbated by the total absence of a traffic plan and/or controlled signaling, adequate signage and illegal breaks in central reserves that are not policed at all,” he avers.

It’s not all that easy to settle down in a country which holds no similarity to one’s own homeland. A lot of adjustments need to be done and some major changes have to be made to one’s lifestyle too apart from the basic change in the living environment.

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BOA For SEZ Approved 29 Proposals

August 2, 2008 – 7:15 am

The Board of Approval (BoA) for Special Economic Zones (SEZs) cleared a total of 29 proposals to set up SEZs, including three proposals for conversion of in-principle approvals into formal ones. The Board recommended grant of 23 formal and six in-principle approvals.
Prominent among the formal approvals are four IT/ITeS SEZs in Kerala by Kerala State Information Technology Infrastructure Limited, another two IT/ITeS/electronic hardware SEZs in Andhra Pradesh by Godrej Real Estate Private Limited and S2tech.com. Two more IT/ITeS SEZs were approved to be set up in Gujarat by Strength Real Estate and Gaurinandan Property Holders.
Two biotechnology SEZs in Andhra Pradesh by Lahari Infrastructure and a Biological E were also approved.
An SEZ for non-conventional energy, including solar energy equipment/cell SEZ in Gujarat by Euro Multivision was also granted formal approval.
An engineering SEZ in Tamil Nadu by Township Developers India was converted from in-principal to formal approval.
In-principle approvals were granted among others for a multi-product SEZ in Madhya Pradesh by Reliable Smart City.
The airport and aviation sector, including maintenance, repair and overhaul (MRO) SEZ in Tamil Nadu by Taneja Aerospace and Aviation Limited, was given in-principle nod as also a free trade warehousing zone SEZ in Tamil Nadu by Vikram Logistics and Maritime Services.

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DLF Assets files for IPO approval in Singapore

May 14, 2008 – 5:16 am

DLF Assets, the property fund of DLF Ltd, plans to launch an initial public offer of its office trust in Singapore by June to raise over Rs 8,000 crore. DLF is India’s leading real estate company in terms of market evaluation. Read More »

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Heat Of Rising Interest Rates

March 11, 2008 – 1:07 am

New Delhi, Mar 10, 2008. When finance minister Mr. P Chidambaram has decided for decreasing home loan rates for the loan of less than Rs. twenty lakhs, many other sectors facing the heat of rising interest rates.

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Asipac to launch real estate fund

March 6, 2008 – 4:56 am

BANGALORE: Realty marketing and consultancy firm Asipac Projects is close to putting together a real estate fund, in association with a few institutional investors. The move by the company , aimed at widening the scope of the company’s services is part of a series of initiatives that will roll out in the coming months.

According to Bangalore-based Company, the first fund will have an initial amount of Rs 50 crore and will invest in real estate SPVs across the country. “The first fund should be in place in six months. We intend to invest small amounts into SPVs, picking up a 2-3% stake in specific projects,” said Asipac Project’s chairman Amit Bagaria.

Year 2008 will see the company launch two new strategic business units (SBUs) — an investment advisory services group and a construction management consultancy division. “The idea is to be an end-to-end consultancy services company, helping clients (realty firms) raise funds for as well as help reduce material procurement costs,” said Mr Bagaria.

As on date, Asipac Projects represents about 18 real estate firms. The company is also seeming to expand its services to Indian business houses that are in the process of unlocking value from their land holdings.

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The Paul Hotels and Resorts to develop South Indian hotel

March 6, 2008 – 4:43 am

The Paul Hotels and Resorts plans to develop a five star hotel chain in South India. As part of the first stage, the group will develop business class hotels or resorts across Karnataka, in locations such as Bengaluru, Mysore, Hampi and Coorg.

According to Shelly Thayil, Director – Operations, The Paul Hotels and Resorts, the group wants to tap the state’s immense tourism potential. In addition to this, the Karnataka Government is keen on providing the investors with incentives.

The group has acquired five acres of land for a 180 room hotel in Mysore. It will be developed with an investment of Rs 150 crore. The group is in the process of sourcing 30 acres of land for its 75 suite heritage property in Hampi. It will be developed near the Tungabhadra river at a cost of Rs 30 crore (in the first phase).

The Paul Hotels expects both these properties to be operational within the next two years. “We develop all our properties in phases, as this gives us enough time for trials. This model also helps us to work on our guests’ feedback, after which we make the necessary changes,” offers Thayil. Commenting on the tax holiday for hotels in UNESCO-certified heritage sites in India, Thayil feels that this announcement has come at the right time. The Hampi property is in the drawing board stages.

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Mega property Show At Hyderabad

March 5, 2008 – 7:22 am

Real estate in Hyderabad is witnessing a boom and the demand for residential & commercial properties has taken a quantum leap. Hyderabad is fastest growing cities in India is experiencing a rapid need for enhancement in infrastructure.

Read More »

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GTC set for Realty Business Separately

March 3, 2008 – 5:14 am

NEW DELHI:Cigarette manufacturer GTC Industries pronounced that its board of directors has considered and decided an in-principle approval to separate the tobacco and the real estate business into two different entities.

The two entities would be listed separately on the stock exchanges in India.

ET had initially reported plans of a separation of the real estate business last November.
Commenting on the progress, GTC Industries chairman Sanjay Dalmia  told that the separation would unlock distinctive shareholder value across both verticals, tobacco as well as  the real estate. The company is in the process of probing different options for working out a suitable scheme of separation keeping the interest of shareholders in mind.”

As reported earlier, GTC Industries had been looking forward to separate its real estate assets spread across Mumbai, Baroda and Hyderabad into a separate company.

The separated entity would then become a real estate development company while GTC would remain the cigarette manufacturer with brands like Panama and Chancellor. The separated companies would form joint ventures and develop real estate assets.

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Indiabulls realty purchases majority stake in Dev Property

March 1, 2008 – 4:32 am

MUMBAI: Indiabulls Real Estate(IBREL), the real estate division of the Indiabulls group, has decided to take greater part stake in Dev Property Developers, the London-listed property fund, in order to gain best part control over two of its prized properties in Mumbai. IBREL has bought over 90 percent in DPD for about Rs 1,100 crore.

DPD, which is listed on London’s Alternative Investment Market, in turn holds a minority stake in various realty assets, a majority of which are owned by Indiabulls group, like Jupiter Mills, Elphinstone Mills and the 6,000-acre SEZ at Raigad in Maharashtra. It is expected that the deal would help IBREL launch its Real Estate Investment Trust (REIT) in the Singapore Stock Exchange (SSE). IBREL had received the approval to list REIT at SSE and initiated steps to create a property trust prior to the listing.

Jupiter and Elphinston Mills were purchased by Indiabulls in a series of high-profile transactions in 2005 from state-owned textile firm NTC. Indiabulls plans to convert them into commercial complexes.

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Vastu based construction for prosperity

February 23, 2008 – 6:44 am

Vastu is the antique Indian science of constructions which state how finest the environmental energy can be used to benefit the inhabitants. The size of the buildings including its length, breadth and height and the shape of building are very important in Vastu based positioning.

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