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Alliance Nirmaan Limited Launches ResidentialProject CITY ON...

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

Rudrapur: A Star Industrial Hub

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

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

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

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

posted by zameensantosh on Nov 21, 2009 10:33 AM Permalink | 0 comments
Tags: commercial, estate, in, indian, india, space, real, buy, agents, delhi, gurgaon, loan, residence, noida, home, funds, office, property

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PIYUSH GREENS LAUCHES RESIDENTIAL PROJECT IN RUDRAPUR

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

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

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

Salient Features:

Exotic landscaping and open area .

Swimming pool and health club .

Provision for visitors car parking .

Community Hall, Convenience Stores and ATM.

Building design for earth quake resistance .

Club House, Party Lawn, Entry Lake and Fountain.

Earthquake resistent building structure

Low rise apartments

Roll of piyush Group In Real Estate:

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

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

posted by zameensantosh on Nov 21, 2009 10:28 AM Permalink | 0 comments
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SUPERTECH LTD LAUNCHES NEW RESIDENTIAL

Project Name Supertech Green Village

Name of Builder Supertech Ltd.

Project Type Residential Apartment

Price As below

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

Agent Shri Aditya Estates 42470622, 9810445860

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

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

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

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

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

posted by zameensantosh on Nov 17, 2009 10:08 AM Permalink | 0 comments
Tags: office, it, mumbai, residential, buy, shop, estate, ncr, agents, commercial, chennai, pune, property, flats, delhi, apartments, chandigarh, hyderabad, house, kolkata, dealers, noida, rent, lease, bangalore, home, sell, complex, india, gurgaon, real, villas, brokers, penthouses, industrial, plots, space, &amp, online, corporate, land, duplex, estate., retail, indian, mall, park, in, funds

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ANSAL PROPERTIES

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

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

A. Down Payment Plan with 12% Discount

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

CONSTRUCTION LINKED INTEREST FREE INSTALLMENT PLAN

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

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

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

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

posted by zameensantosh on Nov 17, 2009 10:05 AM Permalink | 0 comments
Tags: brokers, agents, dealers, home, residential, house, lease, flats, property, office, apartments, estate, shop, commercial, delhi, rent, mumbai, india, sell, bangalore, buy, complex, villas, ncr, real, duplex, pune, plots, online, land, &amp, corporate, park, noida, retail, chandigarh, penthouses, industrial, indian, gurgaon, estate., it, mall, space, funds, hyderabad, chennai, in, kolkata

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REALTY DEMAND ON RISE

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

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

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

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

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

posted by zameensantosh on Nov 7, 2009 11:16 AM Permalink | 1 comment
Tags: shop, park, hyderabad, gurgaon, plots, funds, apartments, in, dealers, it, corporate, pune, buy, online, chandigarh, commercial, flats, complex, estate., residential, mall, industrial, delhi, mumbai, chennai, rent, kolkata, house, ncr, indian, retail, duplex, agents, noida, land, real, villas, sell, space, home, bangalore, penthouses, lease, brokers, &amp, estate, property, office, india

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CHECKS AND BALANCES

A single regulatory body to monitor all the stakeholders of the real estate sector is a must to bring in transparency and professionalism of global standards, says Archana Sinha

To bring the Indian property industry on par with the global real estate sector, the Indian parliament is gearing up to pass the much talked about real estate regulatory bill in the winter session. The industry is keenly watching out for this one as the first draft was found to be faulty and rather lopsided, excluding the government bodies from its purview.

So while the experts feel that it is time to have a single-point regulatory body on the lines of SEBI or TRAI, which would prove beneficial in the long run to the endusers and developers, there is also a cry for bringing total objectivity and professionalism in the workings of the body, to truly achieve its goal. Developers also point out the dangers of over-regulation in an industry that already faces several stumbling blocks.

The bill seeks to grant approvals to projects on certain parameters and also expedite all the approval processes mandatory for projects to take off. It is expected to help improve transparency in the sector by rating developers on their financial strength in terms of turnover, liquidity and profitability, scale of operations, intellectual expertise based on the qualification and experience of the management team, and past performance.

According to Ashutosh Limaye, associate director (Strategic Consulting), Jones Lang LaSalle Meghraj, “The stock market has SEBI to provide guidelines, define conduct and processes, provide a redressal system for both buyers and sellers and install necessary consistency and standardisation. The proposed real estate regulatory body intends to do the same for the Indian property market, which currently presents a rather under-organized picture.”

Deepak Parekh, chairman of HDFC, had expressed the urgent need for a real estate regulatory body, which should play the role of a monitor for promoting and overseeing real estate reforms, ensuring transparency in sales and protecting buyers from a fraudulent case, if any.

Parekh recommended that the state housing boards should also be brought within the ambit so that there is complete transparency in its working mechanism, the checks and balances are well achieved from every quarter.

The developers have welcomed the move too, but not in its current draft form. Kumar Gera, chairman of CREDAI, India, says, “The intention is good but a lot of thought needs to go into formulating the role of the body, otherwise the effect can be counter-productive. Two main intentions are stated in the preamble: protection of consumers’ interest and speeding up the clearances to facilitate the smooth development of real estate. There are enough provisions to achieve the first objective, but I haven’t seen anything regarding the second. It needs inclusion of processes. In the present form it is likely to create more processes and hence obstacles. The Urban Land Ceiling act was also formulated with a noble intention, but the outcome was disastrous.”

R Vasudevan, MD of Vascon Developers, has a similar view: “I think the intention is very good if followed in its spirit with modification to include the process of speeding up approvals. It will revamp a sluggish and a beleaguered system.

In fact, no reputed developer would want a short cut to achieve his end, as his intention would be to become a long-term player. It is not in his interest to delay projects and offer bad products, as it will tarnish his image and his brand. Hence this is welcome but only if it fulfills its intent.”

Sunny Bijlani, director, Supreme Universal, which has projects in Pune and Mumbai, says, “It is fine with us to have a regulatory body, which helps bring in transparency to the customers. We are more than happy.

But they have to bring more changes in the rating system to actually do proper justice to the customers, by doing a complete financial analysis of the developers, and not just by collecting some data. Secondly, it should be a single point for all clearances and NOCs so that the project starts on time. Most delays are caused by non-availability of clearances from the government authorities.”

Real estate is a major contributor to GDP growth and employment generation. The minister of urban development acknowledges this fact and feels that a single regulatory body at the state level is most needed, for faster approvals, besides faster delivery of projects, accountability of the project developers, professionalism and finally loan acquisition to make affordable housing a reality.

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

posted by zameensantosh on Nov 7, 2009 11:03 AM Permalink | 0 comments
Tags: india, hyderabad, buy, shop, mumbai, office, real, corporate, dealers, flats, lease, mall, house, bangalore, kolkata, penthouses, commercial, rent, chennai, noida, pune, apartments, agents, sell, residential, gurgaon, duplex, property, villas, brokers, home, park, delhi, it, estate, chandigarh, complex, industrial, ncr, indian, plots, funds, online, estate., in, land, retail, &amp, space

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Emaar MGF Launches 3/4 BHK Apartments & Villas

Project Name	Palm Drive
Name of Builder	Emaar MGF
Project Type	<a href=”http://www.propertycafeteria.com/palm-drive-gurgaon.aspx”>3/4 BHK Apartments & Villas</a>
Price (approx.)	Rs. 87,00,000/- to rs. 4,00,00,000/-
Location	Sohna Link Road, Gurgaon
Agent	Shri Aditya Estates
	47082736, 9810445860

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

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

International standard specifications and a wide range of amenities like <a href=”http://www.propertycafeteria.com/investment-portfolio.aspx”>club house, Golf Course, swimming pool,</a> world class gymnasium, tennis court, Jacuzzi, Multi-Purpose Function Hall, Home Theatre Room etc.

posted by zameensantosh on Nov 3, 2009 10:56 AM Permalink | 0 comments
Tags: funds, in, agents, estate., home, land, gurgaon, rent, bangalore, chandigarh, real, hyderabad, delhi, noida, buy, ncr, industrial, plots, house, sell, online, apartments, duplex, complex, penthouses, it, dealers, retail, corporate, india, lease, office, indian, flats, park, pune, property, &amp, mall, villas, brokers, mumbai, chennai, space, shop, estate, residential, kolkata, commercial

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DLF Limited Launches DLF

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

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

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

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

posted by zameensantosh on Nov 3, 2009 10:39 AM Permalink | 0 comments
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DEWAN HOUSING NET UP 70% AT RS 37.5 CRORE

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

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

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

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

posted by zameensantosh on Oct 30, 2009 10:49 AM Permalink | 0 comments
Tags: delhi, apartments, chandigarh, it, retail, ncr, indian, office, plots, lease, commercial, shop, pune, flats, estate., gurgaon, funds, house, space, bangalore, brokers, villas, property, real, estate, industrial, kolkata, india, online, &amp, duplex, noida, rent, park, mumbai, dealers, complex, corporate, sell, land, agents, chennai, penthouses, buy, hyderabad, mall, in, residential, home

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DDA ALLOTTEES, TIME TO PLAN HOUSEWARMING

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

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

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

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

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

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

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

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

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

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

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

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

posted by zameensantosh on Oct 30, 2009 10:10 AM Permalink | 0 comments
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Higher sales in real estate sector

While real estate demand as of now seems to buoyant in the residential space and is likely to gather momentum, is it significant? Says Sanjay Dutt, CEO, Business Jones Lang LaSalle Meghraj, a realty consulting firm, “The slowdown hit the property market shortly after the Navratri-Diwaly season in 2008 after registering the usual 30-35 per cent upsurge in real estate project sales typical of the period. Real estate projects Sales increased 25-30 per cent this time around and is significant as this is the first upsurge in demand after a prolong downturn.” Driving home the point, Ramnath cites the sales of DLF and Unitech, India’s largest listed realty companies, during the current financial year. “ Unitech has launched about 17 million square feet (mnsqft) worth of properties across the country selling over 40 per cent of that real estate project. Incrementally, Unitech has launched about 6 mnsqft of affordable housing properties selling about 1 mnsqft of properties till date. DLF too has sold a total of about 4 mnsqft of properties till date. These events indicate an uptick in volumes in the real estate sector.”

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

http://www.zameen-zaidad.com

posted by zameensantosh on Oct 28, 2009 10:42 AM Permalink | 0 comments
Tags: buy, india, property, real, residential, agents, flats, commercial, estate, sell, dealers, apartments, rent, brokers, indian, villas, space, house, lease, bangalore, duplex, funds, &amp, home, noida, land, it, chennai, gurgaon, ncr, chandigarh, park, online, delhi, shop, corporate, hyderabad, plots, estate., complex, kolkata, retail, office, penthouses, industrial, pune, mall, in, mumbai

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WILL IT LAST FREEZE OF THE MARKET?

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

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

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

http://www.zameen-zaidad.com

posted by zameensantosh on Oct 28, 2009 9:55 AM Permalink | 0 comments
Tags: estate., penthouses, complex, mall, residential, property, kolkata, ncr, funds, space, house, brokers, bangalore, rent, sell, shop, estate, agents, villas, it, corporate, flats, chennai, indian, hyderabad, mumbai, chandigarh, park, &amp, buy, in, plots, gurgaon, industrial, apartments, dealers, india, land, home, office, online, retail, duplex, commercial, real, pune, noida, delhi, lease

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STORM IN THE MARKET OR A TEACUP?

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

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

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

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

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

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

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

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

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

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STILL WITHIN REACH

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

posted by zameensantosh on Oct 23, 2009 12:03 PM Permalink | 0 comments
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SUNSHINE BEAUTYIN HYDERABAD

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

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

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

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

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

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

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

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

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

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

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

posted by zameensantosh on Oct 21, 2009 1:32 PM Permalink | 0 comments
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REAL ESTATEA DEVELOPERS PARSVNATH SET TO INVEST RS 1500 CR

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

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

posted by zameensantosh on Oct 21, 2009 1:27 PM Permalink | 0 comments
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‘BEVERLY HOMES’ SECTOR 89 FARIDABAD

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

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

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

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

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

posted by zameensantosh on Oct 14, 2009 11:36 AM Permalink | 0 comments
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‘AVALON RESIDENCY’ BHIWADI

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

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

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

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

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

posted by zameensantosh on Oct 14, 2009 11:28 AM Permalink | 0 comments
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Realty demand up in third quarter

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

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

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

posted by zameensantosh on Oct 12, 2009 10:56 AM Permalink | 0 comments
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REALTORS RUSH FOR IPO APPROVALS

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

posted by zameensantosh on Oct 12, 2009 10:47 AM Permalink | 0 comments
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THE BOOM CONTINUES

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

posted by zameensantosh on Oct 1, 2009 10:35 AM Permalink | 0 comments
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AS REALTY DAWNS, COS PUTS ASSETS ON BLOCK

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

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

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

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

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

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

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

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

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

posted by zameensantosh on Sep 26, 2009 1:25 PM Permalink | 0 comments
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‘THE VIEW’ (RAMPRASTHA GROUP)

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

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

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

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

posted by zameensantosh on Sep 26, 2009 1:17 PM Permalink | 0 comments
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RAJUS MAY LOSE CONTROL OVER MAYTAS PROPERTIES

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

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

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

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

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

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

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

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

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

posted by zameensantosh on Sep 25, 2009 10:52 AM Permalink | 0 comments
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FESTIVAL OF OPTIMISM

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

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

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

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

Strong sentiments

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

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

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

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

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

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

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

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

posted by zameensantosh on Sep 23, 2009 9:17 AM Permalink | 0 comments
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MINT TOWERS – GURGAON

Project Name Mint Towers

Name of Builder GPL

Project Type Mini Township (Residential)

Price As below

Location Sector -70, Gurgaon

Agent Shri Aditya Estates
47082733, 9810445860

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

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

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

Down Payment Plan

Rebate 10% on Basic Sale

Price At the time of Registration 10% of BSP

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

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

posted by zameensantosh on Sep 21, 2009 9:55 AM Permalink | 0 comments
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GLOBAL CITY- MUMBAI

Project Name Global City

Name of Builder Keystone Group

Project Type Residential flat

Price As below

Location Virar (West) Mumbai

Agent Shri Aditya Estates
42470622, 9810445860

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

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

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

PAYMENT PLAN

PAYMENT SCHEDULE PERCENTAGE

1st Installment towards booking 5%

2nd Installment towards booking 5%

Plinth 10%

2nd Slab 10%

4th Slab 10%

6th Slab 10%

8th Slab 10%

On Completion of Masnory 7%

On Completion of External Plumbing 7%

On Completion of External Paint 7%

On Completion of Flooring 7%

On Completion of Doors & Windows 7%

On Possession 5%

Total 100%

posted by zameensantosh on Sep 21, 2009 9:45 AM Permalink | 0 comments
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REALTY SECTOR REGULATED

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

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

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

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

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

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

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

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

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

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

posted by zameensantosh on Sep 19, 2009 9:48 AM Permalink | 0 comments
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AFFORDABLE AFFLUENCE AT GURGAON

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

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

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

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

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

posted by zameensantosh on Sep 19, 2009 9:39 AM Permalink | 0 comments
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COMING UP RAJIV GANDHI AWAAS YOJANA

Housing set to welcome PEs

Guidelines In The Works To Invite Funds

The urban development ministry is also in talks with the World Bank for a $5-billion loan under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) for improving urban infrastructure, the minister said.

The World Bank loan requested under the JNNURM is expected to be finalized “shortly” after authorities have vetted the attached conditionality, he said.

“The ministry, in consultation with the Planning Commission, is currently processing guidelines to ensure PEs’ participation in the Yojana,” he said at a national conclave on private equity in infrastructure organized by Assocham.

The government wants to harness private funds to provide affordable housing to millions of households under the scheme, he added.

“PE funds are keen to park their investments in the Yojana....Besides, the government cannot generate resources for this on its own,” he said.

As per IDFC Projects Equity managing director Sachin Johri, a large number of PE funds are willing to take stake in such projects to the extent of 40-50%.

Enumerating benefit of participation of private equity companies in the scheme, Mr Roy said these funds will also provide expertise in valuing infrastructure projects, advise in fine-tuning business models, assist in toning up operational efficiencies and strengthen corporate governance.

The government is preparing guidelines for the participation of private equity (PE) funds in the housing sector under the Rajiv Gandhi Awaas Yojana, minister of state for urban development Saugata Roy said.

The scheme aims to make a slum free India in five years with construction of over 10 lakh houses.

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

posted by zameensantosh on Sep 16, 2009 12:13 PM Permalink | 1 comment
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DLF CAPITAL GREENS II

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

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

Payment Option – Construction Linked/Down Payment.

Expected Price – Rs6000-7000 psf.

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

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

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

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

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

posted by zameensantosh on Sep 16, 2009 12:06 PM Permalink | 1 comment
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RBI EASES REALTY EXPOSURE NORMS FOR LENDING TO SEZS

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

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

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

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

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

posted by zameensantosh on Sep 15, 2009 8:48 AM Permalink | 0 comments
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MAY EXTEND REGULATORY CONCESSIONS FOR BANKS: CHAKRABARTY

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

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

posted by zameensantosh on Sep 15, 2009 8:41 AM Permalink | 0 comments
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EMERALD ESTATE GURGAON – I I

Shri Aditya Estate, are one of the leading real estate consultants, established in Delhi and working successfully for more than a decade. We have developed well-embellished websites viz. www.zameen-zaidad.com, www.propertycafeteria.com with a clear concept to showcase all kinds of properties of our patrons for wider publicity of their products for sale/purchase, leasing and renting purposes.

Our website www.zameen-zaidad.com is displaying the details of Emerald Estate Gurgaon project.

Emerald Estate Gurgaon is a part of the larger master planned gated community of Emerald Hills, Emerald Estate, a 25-acre mid-rise group-housing development. In the project area, clean crisp air, clubhouse, state-of-the-art security, centralized piped cooking gas system, wide internal roads and convenience shopping, make it a great place to live in.

Shri Aditya Estate is on the approved list of leading banks/financial institutions for grant of home loans. Shri Aditya Estate got an experienced team to process home loan applications. For hassle-free home loan for Emerald Estate Gurgaon project, our executives can be contacted at mobile no 91-9990217028, 9810445860, 011-47082736 or email at: info@zameen-zaidad.com. Or log on to www.zameen-zaidad.com, and www.propertycafeteria.com

INSTALLMENT PAYMENT PLAN

On Booking

5 Lakhs

Within 45 days of booking

20% of Sale Price less Booking Amount

Within 90 days of booking

7.5% of Sale Price

On start of construction

5% of Sale Price

On completion of Ground floor roof slab

7.5% of Sale Price + 50% of Cost of Parking Slot

On completion of 2nd floor roof slab

5% of Sale Price + 50% of Cost of Parking Slot

On completion of 4th floor roof slab

5% of Sale Price + 50% of PLC if applicable

On completion of 6th floor roof slab

7.5% of Sale Price + 50% of PLC if applicable

On completion of 8th floor roof slab

7.5% of Sale Price

On completion of 10th floor roof slab

7.5% of Sale Price

On completion of final roof slab

7.5% of Sale Price

On completion of external plaster

7.5% of Sale Price

On completion of Internal Flooring and wall painting

7.5% of Sale Price

On intimation for possession

5% of Sale Price + IFMS (See note 3)+ StampDuty &

Registration Charges (See note 4)

Other charges

External Development Charges (EDC) Rs. 240/- per sq. ft. Infrastructure Development Charges (IDC) Rs. 30/- per sq. ft. Down Payment Rebate As Applicable Preferential Location Charges (PLC) (See note 7) Parking (Stilt/Covered) - Mandatory Rs. 2,50,000/- Parking (Open) - Optional

Rs. 1,75,000/-

Club Membership Rs. 75,000/- (mandatory).

posted by zameensantosh on Sep 12, 2009 11:50 AM Permalink | 0 comments
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PATTERNS FOR VISUAL INTEREST

Geometric patterns in contrast with floral designs create arresting interiors

All forms are derived from geometry. The use of geometry is oriented to the space available and the individual preference of the user. Various geometric patterns like circles, squares, rectangular shapes and designs are widely used in contemporary homes. It could be symmetrical geometry or asymmetrical geometry.

A curved line is geometry while a curved line repeating itself in a particular form will give a different design. Two circles merging with each other would give another form or design. The same designs can give a different look keeping in mind different spaces. While designing your interiors, keep in mind the availability of the space and play with geometrical designs and floral patterns to achieve an effective contrast.

The trend these days is to experiment with geometrical shapes and to contrast it with floral patterns. For instance, the sofas and other main pieces in a home are geometrical in shape. The use of artificial flowers allows for a break in the geometrical pattern.

The living room sofas can have a floral back while the plain colour from the background of the floral pattern can be used on the seat and hands. The use of geometric shapes, whether in cushions, in curtains in the form of checks or stripes, allow for more vibrant colours like yellow, orange, red and green as against floral patterns, which allow for only softer colours.

Colour is an important decorating tool which has the power to change the shape and look of the room. Checks, stripes and other geometric designs can dramatically brighten up a room, while floral patterns can give it a pleasing look.

Though the walls should be coloured light, the furniture and the upholstery can be painted in bright and vibrant colours. Consider small checks, plaids and stripes as co-ordinates. Remember that the main trick is blending patterns within the decor and to use them in different scales.

From a visual standpoint, stripes can create an illusion. A vertically striped wallpaper in a room can make the room look taller while stripes that run horizontally, will gives the illusion of wider spaces, which is sometimes ideal in very large rooms. Large stripes in a small space may be too much, just as narrow stripes in a large room. One has to hence decide and understand the basic structure of the house before experimenting.

The furniture should be sleek, lowlevel and kept to a bare minimum. Choose furniture that is straight-lined and match the interiors of your room. Steel furniture goes well with contemporary design while being available in various geometric shapes. Round and square tables are common.

The use of lampshades adds to the decor of the room and these are available in not only different shapes but in a variety of colours and with an assortment of embellishments.

Courtesy:- TOI dt:- 05-09-2009

posted by zameensantosh on Sep 12, 2009 11:42 AM Permalink | 0 comments
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VAT IN REALTY

Value added tax (VAT) has always been a cause of perplexity to the real estate buyers. While some builders are recovering VAT from the customers, there are others who are not charging their customers at all. This has led to much confusion for the property buyers as to whether VAT needs to be paid and if it does need to be paid, what should be the amount.

Value added tax

The VAT system replaced the sales tax system with the objective of simplifying the tax regime and to avoid the problem of double taxation. VAT is a multi-stage tax levied at each stage of the value chain with the provision that tax credit will be allowed for the tax paid at an earlier stage.

Under the VAT structure, there are two categories of rates - four percent or 12.5 percent. The idea behind this was to bring about uniformity in the levying of tax by different States and simplify the complex structure under the sales tax system. Different States have enacted the VAT Act for their State along with certain variations. While some States have moved away from the basic rate structure, some have introduced certain exemptions and concessions for the benefit of specific sectors.

In Karnataka, the real estate developers or builders have an option to charge VAT to the customers under two schemes. The first one is the composition scheme where the builder pays four percent of the construction cost as VAT. In this case, he does not claim anything from the individual owners.

Under the second scheme, the builder can collect 12.5 percent of 70 percent of the cost of construction from the individual owners. This works out to 8.75 percent of the total cost of construction. VAT is applicable only to materials and 70 percent of construction cost is representative of the materials cost in construction. VAT is calculated on the cost of the flat, parking space cost and amenities.

While some may think that it is unfair for buyers where the builder opts for the second scheme, it is not so. In the first case, although the builder is paying VAT himself, the additional burden will be passed on to the owners by way of a higher price. Similarly, where the builder is recovering VAT from the owners, the price of the flat would be lower to that extent since VAT is an additional cost to the buyer. Failure to do so may render him uncompetitive in his overall pricing.

Courtesy:- TOI dt:- 05-09-2009

posted by zameensantosh on Sep 11, 2009 8:53 AM Permalink | 0 comments
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AMRAPALI GROUP’S NEW VENTURE

After the success of Amrapali Sapphire, the Amrapali group offers Amrapali Empire. Located at NH-24 Ghaziabad opposite ABES Engineering College, it is spread over 16000 sqmt and is 8 km from Shipra Mall. It offers a range of housing from 2 bed room to 3 bedroom apartments. Apartments cover 1000 sq.ft and go on to 1650 sq.ft .The price for these apartments starts at an affordable Rs. 37 lakh. This project will be completed within a time frame of 27 months.

Courtesy:- HT dt:- 05-09-2009

posted by zameensantosh on Sep 11, 2009 8:44 AM Permalink | 0 comments
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DLF NEW PARTNER OF MOTHERCARE

UK Retailer Forms 51:49 JV With Indian Realty Co, Present Franchise Deal With Shoppers Stop To Coexist

Mother care, a UK retailer for kids and expectant mothers, is forming a 51:49 joint venture with India’s largest real estate company DLF, two people close to the development said.

While the company would continue its existing franchise agreement with department store chain Shoppers Stop, it hopes that the new JV will give it greater control over its Indian operations and ability to expand quickly in one of the fastest growing economies, they said requesting anonymity.

Both DLF and Mothercare refused to confirm the developments brushing it off as “market speculation”.

Mothercare spokeswoman Catriona McDermott said in a statement that the company was committed to its ongoing expansion in the Indian market. She said the company has 21 stores in affiliation with Shoppers Stop, which will remain a Mothercare franchisee in India.

“Shoppers Stop continues to be a valuable partner in Mothercare’s ongoing Indian strategy,” she said.

The UK retailer had been in discussions with DLF and Tata group retailer Trent for a possible equity partnership in India.

In the past, many foreign retailers, who nurtured a long-term view on India, have shunned the franchise route to form JVs with Indian partners. Last year, UK’s largest apparel retailer Marks & Spencer entered into a joint venture with Reliance Retail ending its franchise agreement with Planet Retail. Indian laws make it compulsory for a foreign retailer selling a single brand to take on Indian partner as the former can’t own more than 51% equity in a retail business. Foreign investment is still not allowed in companies that sell more than one brand.

A JV in India traces Mothercare’s recent move in China, which saw it breaking from its tradition of growing overseas only by franchising to local organisations. It has formed a joint venture with local partner Goodbaby in China.

“We envisage that we may engage in more joint ventures in future, though we will remain mindful of political, cultural and economic risks which attend international investment,” chairman Ian R Peacock said in the latest annual report, talking about China joint venture.

The UK retailer, which has 1,014 stores in 50 countries, including 609 stores outside the UK, sees the international market as “the biggest single growth opportunity”, as per its annual report. Mothercare reported an International retail sales growth of 41%, as against 6.9% overall sales growth for FY09 to £723 million. Similarly, international same store sales were up 6%, as against UK’s 1.4% for FY09.

A joint venture with Mothercare further diversifies DLF’s portfolio of brands, which already has Giorgio Armani, Dolce & Gabbana, Salvatore Ferragamao, Sunglass Hut and Sia Home. The realty firm, which has been partnering foreign retailers—usually as junior ally—aims to have a stream of clients for its malls through these tie-ups.

A typical standalone store of Mothercare in India is 3,000-6,000 sqft, while a shop-in-shop is 1,800-2,000 sqft. The retailer offers a range of products, including clothing, hardware and toys in India for mothers-to-be, infants and pre-school kids and sources over 70% of products sold in the country from global vendors.

Courtesy:- Et dt:- 08-09-2009

posted by zameensantosh on Sep 9, 2009 11:59 AM Permalink | 0 comments
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Maytas Properties may get developer to rescue project

Maytas Properties, the unlisted real estate company belonging to the family of Satyam Computer Services’ disgraced founder, Ramalinga Raju, is likely to shortly finalise a deal with a developer to support its troubled Hill County project, say sources.

The residential project, coming up at Bachupally on the city outskirts, it behind schedule by nine months. The Rs 1,000-crore project is to have 840 apartments and 326 in dependent bungalows, priced between Rs 50 lakh and Rs 2.5 crore. The apartments are not ready, through a few bungalows are.

According to sources, Maytas Properties would assign the developer a new project and raise a bank loan using the projected incomes from the proposed property. It would use that loan for completing the Hill County project. “From what we understand, it will be a tripartite agreement with Maytas Properties, the bank and the developer,” sources told Business Standard.

This is one of several options the company is pursuing to complete the construction and give possession to those who had booked houses; the latter have so far invested Rs 630 crore by way of payments. The project requires Rs 150-200 crore more.

“It looks like it will be a positive development for the company,” the source said, adding a deal might be signed in a week or so. He, however, did not talk specifics about the project the developer would be given. Maytas Properties had earlier asked its customers to use their good offices to find investors for Hill County.

The company offered to give unencumbered collateral to the prospective investors, with the flexibility to withdraw the money invested in a year, sell of some property at rates much lower than the prevailing market rates or liquidate the collateral if the company did not repay.

Courtesy:- BS dt:-08-09-09

posted by zameensantosh on Sep 9, 2009 11:49 AM Permalink | 0 comments
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HOUSE THATINTEGRATED TOWNSHIP

I am planning to buy an apartment in an integrated township. Please guide me on the social infrastructure benefits that I need to keep in mind.

(Amit Patel)

Integrated townships are coming up in all segments, ranging from low-cost (affordable housing) to high-end formats. Some of the common social amenities that you should look at within these townships include provision of schools, hospitals or nursing homes, shopping centers that take care of your daily needs and emergency services like fire station etc. Presence of these facilities shall ensure that all your family needs are taken care of in a compact, secure environment. Also keep in mind that the township should have ample green areas and parking facilities as well.

Most of the high-end townships provide a few more added facilities to entice the high-income buyer, including a clubhouse, social gathering halls, gymnasium and jogging track, swimming pool, kid’s crèche. Some townships also include a golf course as part of the integrated offering.

Generally, all things being equal, there is a premium ranging from Rs 200–500 per sqft associated with being part of such townships vis-à-vis a stand-alone building. The premium depends upon the type and variety of social infrastructure being offered within the township. Though most of these townships are located on the outskirts of the city, increasing travel time to important nodes, you pay the premium to provide your family with all basic amenities in close proximity.

LOW-COST HOMES

I am a software engineer with an MNC. I want to invest Rs 10-15 lakh in real estate. Is there a market for small investments? Also, are there any government incentives or rebates that I can avail?

(Rohini Singh )

There is definitely a residential property market in the price band of Rs 10-15 lakh in metro cities. This price segment incidentally co-insides with the much talked about “affordable housing” proposition that has lately been of interest to developers and buyers alike. Most of the projects in this segment are coming up in the future growth vectors of these cities. However, the bad news is that you have missed the bus on the special home loan package stimulus, which the government had launched for the period December 2008 to June 2009, where housing loans up to Rs 5 lakh were given at 8.5% interest and borrowers in Rs 5-20 lakh segment were charged 9.25% for the first five years. The good news is that as an impetus to low cost housing, the finance minister in the Union Budget 2009-10 sanctioned an interest subvention of 1% to individuals on all home loans in the affordable housing segment for one year. The assistance is applicable on all housing loans up to Rs 10 lakh, on houses with capital value not exceeding Rs 20 lakh. The monetary benefit that you can get as a result of this subvention is up to Rs 10,000.

Chintan Patel, Associate Director, real estate practice, E&Y

(These comments are based on the limited information provided by the people. The advice may vary subject to actual facts and circumstances of the case)

Courtesy:- ET dt:- 23-08-09

posted by zameensantosh on Aug 28, 2009 10:31 AM Permalink | 0 comments
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DARSHAN SHASTRA

Katra, which is a big draw for Vaishnodevi devotees, is now dotted with branded retail outlets and hospitality majors. ET Realty reports Namrata Kohli

Planning a trip to Vaishnodevi? Be ready for some newage interventions along the way. For starters, tickets are available online (jaimatavaishnodevi.com) to simplify the tedious process of coming to Katra and standing in unending serpentine queues, making payments and getting the 'parchi', your passport to darshan of the divine deity, now a matter of a mouse click. Secondly, be ready to be greeted by branded outlets at the foot of the shrine - Katra. Katra, the downhill town on way up to Vaishnodevi shrine, which sees religious tourists thronging in large numbers round the year, is 46 km away from Jammu, and is seeing some heightened real estate activity.

There are already three Cafe Coffee Day outlets, of which one is between Balganga and Adhkawari (which is halfway up the Vaishnodevi Mandir), the second one at Adhkawari, and the third one at Katra main market. While Baskin Robbins already has a presence here, Sagar Ratna is opening an outlet at Hotel Subhash International. The place has also been inundated with enquiries from other branded retailers such as Dominoes and Comesun group.

According to Anil Sharma, general manager of Hotel Subhash International, "All these outlets bring their own equipment, systems, processes and even manpower. They are surely adding value to the place and are in turn doing brisk business. Landowners here lease out premises to these retailers and they operate as tenants paying a monthly rental ranging from approximately Rs 100-150 /sq ft/month." Shops, showrooms, hotels, and guesthouses are prime drivers of real estate in Katra. The town of Katra comprises four major roads, namely, Main Market, which is the prime commercial space, Balganga road, Jammu road, and Kashmir road. The real estate metric used here is 'kanal', which is equivalent to 3,600 sq ft.

While the main market is choked and with no space left, Jammu road is the next prime location where the values prevailing are anything between Rs 80 lakh and Rs 1 crore per kanal. If one goes down further on Kashmir road, a lot of space is available and transactions happen even at Rs 20-25 lakh per kanal. With over 275 guest houses plus hotels, the place so far had only 20 reasonable hotels, ones which could qualify to be of the 3-star category, with average room tariff at around Rs 1,500 per day. However, three plush hotels have come up in Katra - White Orchid, K C resorts, and Country Inn, whose facilities include a swimming pool, spa, and a helipad for darshan. In residential real estate, a lot of land is available untapped and people currently stay in bungalows of minimum size of 1 kanal or 3,600 sq ft costing approximately Rs 10 lakh.

Apartments are currently not available but there is immense scope for these as well. According to a local who spoke on condition of anonymity, "Most of the businessmen have tied up with locals here and set up their projects, whether it is in hospitality, or retail sector. Unfortunately, many locals look at investors as a threat and are not open to entering into partnership with an 'outsider', and if they do, they hold a heavy premium. But once they are here, there is no looking back and they do brisk business. However, the biggest challenge is to manage a local partner. Land is cheaper than in metros and opportunities are vast and not harnessed."

On the infrastructure front, a stadium is being planned at the Katra bus stand for conducting sports events. A university called Mata Vaishno University is coming up 8 km away and a huge cancer hospital project is in the pipeline. But the biggest infrastructure project is that of the railway station, which will take a year to take off. According to shopkeeper Nahir, "The minute that project takes off, the economy of Katra will be on a super fast track and the economy of Jammu will be affected as pilgrims will all come directly to Katra, instead of via Jammu."

Courtesy:- ET dt:- 14-08-09

posted by zameensantosh on Aug 19, 2009 7:53 AM Permalink | 0 comments
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AN EMERGING STAR IN REAL ESTATE SECTOR

Achievers Builders Pvt. Ltd. has established itself among the well-Known building and construction companies in the field. Company's Directors Suresh Dhawan, Vijay Bhardwaj, J.L. Bhatia and A.k. Goel have been associated with the real estate sector since long. According to them. the aim of their company is to provide residential accommodation to the people in beautiful surroundings. Director of Achievers Builders, said that construction of 300 villas in Kalindi Hills at Sector - 49 in Faridabad was the first project of the company. For the first time in India, the internal wiring technique has been introduced by the Achieves Builders in its projects which is based on American system of wiring. The 30 acre city houses Group Housing Society, Villas, Malls health club, swimming pool, play ground and much more. Some of the main salient features of the project include :- Fast congestion free connectivity to Gurgoan, South Delhi, just 20 mins drive: Free Hold Property, 24X7 Hr. Water Supply, Water Harvesting, Cemented Roads inside Township, Underground Electricity Wiring, Modern Street Lights, Airtel Broadbands and phones. They said that the builders and developers are considering Faridabad as a city having a big potential in real estate sector.

Courtesy: - ET dt: - 10-07-09

posted by zameensantosh on Jul 14, 2009 10:45 AM Permalink | 0 comments
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