Green building concept fails in Madhya Pradesh

The Green building concept absolutely fails in Madhya Pradesh where no building is rated ‘green.’
Green Building concept attracts no builders in Madhya Pradesh.

Green Building concept attracts no builders in Madhya Pradesh.

BHOPAL: The efforts of the Madhya Pradesh government have gone in vain. Despite the incentives provided by the government, real estate developers of the state show no interest in Green building concept. Sadly there is no ‘green’ rated building in Madhya Pradesh.

Demand for green buildings is increasing in cities like Bangalore, Gurgaon, Hyderabad and Mumbai. The builders of these areas are also striving hard to develop green projects.

A green building is that building which conserves all natural resources. It uses less water and energy. Such buildings are highly energy efficient. By reducing the level of waste, they provide healthier living spaces to the occupants. Thus they are entirely different from conventional buildings.

In India there are 352 green buildings. Green Building Council (IGBC) is the authority which rates green buildings. Continue reading

Office Space Demand to Increase in 2013: DTZ

Global real estate advisor DTZ reported that this year the demand for office space is likely to increase. Office space demand will be more this year, the report added.
Office space demand to grow this year.

Office space demand to grow this year.

As per the reports of DTZ, nearly 30.5 million sq. ft. of office space will be demanded this year. Comparing to the last year’s office space demand, this year it will be more and far better.

Global economy has started picking up after the downturn. This will boost the office space absorption this year. Additionally other factors such as increase of foreign direct investment (FDI) in the retail sector also will have impact on office space demand of the current year.

Along with the 51% of FDI, the revised repo rates of Reserve Bank of India (RBI) too will boost the demand for office space. The market sentiment has resulted and the economy looks stronger now.

Anshul Jain, DTZ India CEO, said that the fears over the global financial crisis have started fading, resulting in improved market sentiment. Continue reading

NH 24 widening approved, boon for realty

Real estate in Noida and Ghaziabad is likely to be boosted as finally the Authority nods for the NH 24 widening.
NH 24 widening will boost realty in Noida and Ghaziabad.

NH 24 widening will boost realty in Noida and Ghaziabad.

The authorities have approved the plan to widen Delhi-UP link road. This will take the hectic traffic away and will boost the realty in Noida and Ghaziabad. Under the new NH 24 widening plan, the  stretch from UP gate to Dasna will be widened.

The proposal to widen the NH 24 stretch came four years back. Since then it has been waiting for the approval of the authority.

The link road, besides taking away the traffic-jams, also will boost the realty in these cities. It will boost the realty market of Noida and Ghaziabad. As part of this project, the UP Gate to Akshardham stretch has already been converted to eight lines.

However, as the road gets closer to Ghaziabad, it becomes more narrowed.  The narrow roads are often places of traffic-jams. The commuters find it really hard to reach Ghaziabad due to this higher traffic.

With the decision to widen the entire NH 24, it will be easier to reach Ghaziabad in near future. To maintain the flow of traffic, the Authority plans to construct a few under-passes too. Continue reading

Thane Building Collapse Shows the Depth of Corruption

Taking 74 lives, a building collapsed in Thane. Thane building collapse pointed to the depth of corruption existing in the real estate sector.
Thane building collapse raises questions over the corruption level in the realty?

Thane building collapse raises questions over the corruption level in the realty?

THANE: An illegal building collapsed in Thane. Thane building collapse reveals the level of corruption existing in the real estate sector. Two builders Jamil Qureshi and Salim Shaikh have been detained by the police.

Nine people were accused in the building collapse case and all of them were arrested by the police. They are sent to the police custody for two weeks.

Police officials said that the clearance for the construction was attained through bribery. The civic officials were bribed by the builders.

Though the builders are arrested, it is unlikely for them to be charged murder-case. In fact the building collapse does not attract the murder charge under the state-laws. Continue reading

Navi Mumbai Airport Delayed, Affects Realty

Due to the delay in the proposed Navi Mumbai international airport, the realty sector in the area is affected badly. Navi Mumbai witnessed a fall of property prices.
The delay of Airport affects the realty sector of Navi Mumbai.

The delay of Airport affects the realty sector of Navi Mumbai.

Property prices in Navi Mumbai were expected to shoot up. The proposed international airport was believed to boost the property prices in the area. However it will be, as the project is delayed, a setback to the realty sector.

Since the proposal of international airport in 2010, the property prices in and around the locality have doubled and tripled. The announcement had an impact on the prices in areas like Kalamboli, Kharghar, Panvel and Ulwe. Prices in all these neighborhood areas shot up highly.

The new airport was proposed to be developed at Navi Mumbai. It, for pure aviation purpose, needs around 1,160 hectares of land. Additionally it needs another 225 hectares of land is required for other purposes.

Out of these 1160 hectares, 291 hectares of land is yet to be attained. Prithviraj Chavan, the Maharashtra chief minister, said in a reply in the parliament. Continue reading

Home Sales Improve In Mumbai & Bangalore

Home sales, especially of new launches, improved during the period from January to March. The discounts offered by the builders have improved the sentiments of the buyers.
Bangalore and Mumbai witness improved home sales.

Bangalore and Mumbai witness improved home sales.

US financial major Merrill Lynch’s report stated that the sales of new launches improved. The real estate developers have offered various discounts to woo the buyers. According to the financial major the discounts do have an impact in the home sales.

New projects are launched at attractive prices. Besides they are offered with discounts. Attractive schemes by the developers do woo buyers and investors. New launches by renowned developers picked up sales during the first quarter of 2013.

Though the sale of new launches improved this year, Gurgaon saw a fall of sales. This slowdown is mainly because the builders have been focusing on completion of their ongoing projects. Besides they also focus on clearing the unsold inventories. Rising property prices also impacted the demand for new launches in Gurgaon.

Merrill Lynch said that there will be price correction in Mumbai in the upcoming years. Property prices in Mumbai have appreciated at 14% over the last decade. Continue reading

Studio Apartments Witness Surging Demand

Studio apartments are small but considered as suitable for posh living. As they are available at cheaper rentals, now there is a steady rise in the demand for studio apartments.
Small sized studio apartments are more demanded now.

Small sized studio apartments are more demanded now.

Can you imagine living in a small home, as small as 350 sq. ft.? Now the increasing demands for studio apartments show that the people can think of living in such small homes.

Studio apartments face a good response from the tier II cities. Though these apartments are small in size, it does provide superior living. One of the most attractive features of studio apartments is that they do not have any wall at all. No wall separates kitchen from bedroom, or kitchen from living room. Only bathroom is separated by a wall.

Lower maintenance charge is another thing which attracts the takers to such small posh apartments. As they are small in sizes it is easier also for maintaining. There is no doubt that without much expense, these can be well-maintained.

Studio apartments receive higher response from almost all tier II cities. The demand is higher in Chandigarh, Coimbatore, Jaipur, Lucknow, Mohali, Nagpur, Surat and so on. Continue reading

Rajasthan Royals Renews Supertech’s Contract for IPL 2013

Rajasthan Royals has renewed its contract with Supertech. With this renewal of contract, 2013 will be the third consecutive year of presence for Supertech in the IPL.
Rajasthan Royals to retain its contract with Supertech.

Rajasthan Royals to retain its contract with Supertech.

JAIPUR: Supertech will be present in the Pepsi Indian Premier League 2013 with their partnership with Rajasthan Royals. The team has been in association with the real estate developer since 2011.

IPL 2013 will be the third year for the real estate players. Commenting on the contract-extension Supertech Limited’s Director Mohit Arora said that Rajasthan Royals is consistent in its performance in the previous years. “The team,” he added, “has earned a huge fan now.”

While the real estate developer aims to attain further popularity and glamour to the team, the team is seeking a good and reliable financial support.

Rajasthan Royals’ CEO Raghu Iyer said that the team is really happy to extend its relationship with Supertech. He added that the team has benefitted highly from their partnership with the real estate major. Continue reading

Hindustan Unilever Plans To Monetize Realty Assets

In 2012, Hindustan Unilever Ltd divested realty assets worth Rs.672 Cr. The company further plans to earn Rs.300 Cr from divesting realty properties by the end of June.
Hindustan Unilever plans to divest its realty assets.

Hindustan Unilever plans to divest its realty assets.

MUMBAI: Hindustan Unilever Ltd is the largest consumer goods firm in India. It produces around three dozens of consumer goods like Bru coffee, Knorr soups, Lipton tea, Lux and many others.

Real estate has never been their core business. However it has fetched them nearly Rs.672 Cr of profit, a value which is higher than all their other profits. Interestingly it is more than the profit of DLF from their real estate business.

During the same period, DLF has earned Rs.596.35 Cr in the form of net profit. The figure shows the net profit of DLF while the consumer producer’s it is the amount which is collected through selling their realty assets.

Though these figures are incomparable, they are mentioned only to make a sense of amount the consumer producer has earned from selling its realty assets.

Hindustan Unilever Ltd is now looking to collect over Rs.300 Cr through divesting its realty properties. The Anglo-Dutch MNC will sell off 55 ultra-luxury apartments. Continue reading