Noida Authority Seized 90 Acres of Intruded Govt. Land

Posted on December 13, 2012 by designer

In a severe move against the land intruders, The Noida Authority freed nearly 90 acres of government land. The estimated real estate market value of this land falls around Rs.10,000 Cr.

Noida Authority seized back the intruded land.

Noida Authority seized back 90 acres of intruded prime real estate land.

Noida Authority on Thursday trampled nearly 90 acres of land from three major sectors in Noida. This act of the Noida Authority was seen as their move to toughen its attitude against land intruders.

The Authority further stated that it will pull down all illegal constructions in Noida. It warned the real estate builders who have illegal constructions. Continue reading →

Real Estate Market Received No Boost from Festive Season

Posted on December 12, 2012 by designer

Real estate market usually thrives during the festive season. The previous years had allowed the real estate market to do so. Odds stood against real estate market this year.

Festival season fails to Improve the real estate market. This year sale of residential properties dropped.

Real estate market received in fact no boost from the festive season. Or the festive season failed to boost the struggling and sluggish real estate market. Festival season is normally considered as some of the best times to own a home. Yet this year there was no real boost from the festival season.

The sales of residential units remain static and unimpressive despite the festival season. In fact it seems failed to reanimate the sluggish Real estate market with increased number of property sales. Continue reading →

Real Estate India to Boom As Construction Regains Pace

Posted on December 12, 2012 by designer

Real estate India expects to get rid of the sluggishness. The year 2012 was really a sluggish year for the real estate builders.

real estate construction regains pace in India

Real estate India regained pace of construction. It is said to boost real estate India.

Real estate India is expected of gaining a boost from the retail FDI policy. The increased demand for retail spaces prompts the real estate players to construct more commercial projects. This in fact leads to real estate boom in the country.

Commercial real estate prices have risen sharply in India, especially in its big cities. Yet quality retail spaces available for rent are minimal. Thus the real estate experts predict a boom in construction. This will be all the more boosted by the entry of foreign multi-brand retailers. Continue reading →

Real Estate Firms Fined for Anti-Competitive Practices

Posted on December 11, 2012 by designer

Real estate firms are facing the CCI- probe. The Competition Commission of India (CCI) has started their probe against five real estate firms which are alleged of anti-competitive practices.

Anti- competitive practices burn the real estate builders as they get fined.

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

Corporate Affairs Minister Sachin Pilot informed the RS- Rajya Sabha that the CCI has started its probe against the alleged real estate builders. He disclosed the names of the real estate players who are alleged. Continue reading →

CREDAI Demands Consumer Friendly Real Estate Reforms

Posted on December 11, 2012 by designer

CREDAI, the apex confederation of real estate builders said that the real estate reforms must be consumer friendly.

Consumer Friendly Real Estate Reforms turn the need of the hour to provide “Home for All.”

CREDAI has appealed to all the parliament members (MPs) to bring in reforms which are consumer friendly. The apex body of the real estate developers further asked them to consider the large number of stalled projects. Continue reading →

Indian Property Show Dubai -2012: Sets To Be the Biggest

Posted on December 10, 2012 by designer

Indian Property Show Dubai- 2012 is expected to be the biggest ever. It is said to have a record number of participants this year. Indian Property Show will be held on 13, 14 and 15 of December at Dubai World Trade Centre.

Indian Property Show Dubai -2012 is poised to be the biggest ever. There is a record number of participants this year. Indian Property Show will begin on 13^th of December and end on 15^th. The gates will be open to the visitors from morning 11:00 am to 8:00 pm evening on all three days of the Indian Property Show Dubai. Continue reading →

Real Estate Sector to Get a Boost from Finance Ministry

Posted on December 10, 2012 by designer

Real estate sector is about to gain a small boost from the Finance Ministry. Finance Ministry plans to support the real estate sector by helping the real estate builders to secure bank loans.

Residential Sector Thrives Again

Real estate sector will be boosted as the Finance Ministry plans to offer bank loans to the builders who have stalled projects at hand. The decision is expected to be made within a couple of weeks.

Latest RBI data show that the bank credit to the residential sector has grown by mere 12.1 % on year on year basis. This, in fact, is lower than the 15.9 % aggregate growth rate of bank credit. Continue reading →

Sahara Real Estate Firms Granted More Time to Refund

Posted on December 10, 2012 by designer

Supreme Court granted some more time to Sahara to pay off the fine. SC asked SEBI, the market regulator of Securities and Exchange, to accept the extension application of Sahara Real Estate Firms.

Dance time comes back to Sahara

Sahara Real Estate Firms finally had some breath of relaxation. Accepting Sahara’s plea, SC asked SEBI to accept their application for more time to pay off the amount.

Sahara Real Estate Firms were ordered to refund the money collected through debentures. Nearly 3-Crore investors are said to have investment in these firms. Continue reading →

Real Estate India to Have Rs.8000 Cr Worth New Projects

Posted on December 10, 2012 by designer

Real estate sector signaled the bouncing back. Real estate sector has been undergoing a sluggish momentum which the sector has overcome now.

Real estate majors like Supertech and Ansal API have announced their new real estate launches worth Rs.8,000 Cr. The realty majors plan to invest the amount for a period of 4 years.

Meanwhile some real estate builders are looking for options to cut the debts off by divesting their properties. Yet this is not the case for the coming years. Real estate experts opine that the coming years will be booming years for real estate sector. Continue reading →

Adani Realty-M2K Tie Up To Launch Oyster Grande Gurgaon

Posted on December 7, 2012 by designer

Adani Realty has announced its tie up with M2K. Delhi-based M2K Group and Adani Realty will jointly develop a premium housing project- Oyster Grande Gurgaon.

Adani Realty, Adani Group’s real estate wing has revealed its plan to launch its latest residential project in Gurgaon. Adani Realty will be launching this housing project in collaboration with M2K.

Adani Realty and M2K will have equal shares on this residential project. According to the available information, the estimated investment for this residential project is about Rs.1000-Crore. The 40 acre sprawling Oyster Grande is to be set on Dwarka Expressway. Continue reading →

MHUPA India Plans Special Provision For Affordable Houses

Posted on December 7, 2012 by designer

The ministry of Housing and Urban Poverty Alleviation (MHUPA India) is planning to include affordable housing in the infrastructure list. This will enable the lower income groups to own cheaper houses.

Ajay Maken, MHUPA Minister, said that his ministry was seriously planning to initiate several steps to increase the number of affordable homes. The housing ministry has recently revised the income sealing. This was done with the view of improving the qualifying for various schemes of the ministry. The MHUPA ministry has also amended the limit of annual household income of the economically weaker section. Continue reading →

Blackstone To Launch New Real Estate Fund in Asia

Posted on December 6, 2012 by designer

Blackstone Group LP is on the verge to launch its new real estate fund in Asia. Blackstone Group considers this as their plan to seize the Asian real estate market.

Blackstone plans to raise another real estate fund to be launched in Asia. World’s largest private real estate firm’s CEO Schwarzman disclosed their plans to become the largest buyers of commercial real estate in India. He also had laid his eyes on Australian real estate market as well. Continue reading →

Retail FDI Will Cover Up Vacant Space; Hope Mall Owners

Posted on December 6, 2012 by designer

Indian government’s decision to allow more retail FDI (Foreign Direct Investment) was passed in the Lok Sabha. New retail FDI bill gives some rays of hope to troubling mall owners.

The approval of more Foreign Direct Investment (FDI) in retail policy by the Lok Sabha (LS) fills some hopes to the mall owners. They expect to reduce the vacant space as the foreigners will have permission to run shops in India.

With the shopping-mall development boom there has been excess of retail space in all major cities of India. This was comparatively higher in New Delhi and Mumbai. The situation left the mall owners to struggle with the excess of retail space which remain vacant. Continue reading →

Residential Real Estate Loses Value Appreciation: JLL

Posted on December 5, 2012 by designer

There has been a fall in the real estate housing sector in 2012. Housing segment significantly slowed down in the top seven cities of India, reports JLL.

With the minimal rise of capital value by 1-3 % the housing segment loses value appreciation in all the major cities of India, reported real estate consultant Jones Lang LaSalle India (JLL). Continue reading →

Real Estate Investment Firm To Take Over Nokia Building

Posted on December 5, 2012 by designer

Real estate investment firm is in talks with struggling Nokia which plans of selling its head office building. The real estate investment firm is about buy the Nokia building for a sum of Rs.1218-Crore.

Real estate investment firm Exilion has hit the top headings as it is about to purchase Nokia head building at Espoo, in Finland. Nokia, one of the leading handset makers, said that the group is in talks with real estate investment firm Exilion over their selling of its head office building in Espoo. Continue reading →

Sahara Groups Rebuked By SC for Failing to Refund

Posted on December 4, 2012 by designer

The Supreme Court of India severely criticized Sahara Groups for not refunding Rs. 27,000-Crore to its investors. SC further ordered the Sahara Groups to refund the amount to the investors within a week.

Sahara India Real Estate Corporation Ltd (SIRECL) and Sahara Housing Investment Corporation Ltd (SHICL) were given a fine of Rs. 27,000-Crore. The group was ordered to refund the amount collected from nearly 3-Crore investors. The Supreme Court found out that the order is not yet accomplished by Sahara Groups. Continue reading →

CREDAI Asks Real Estate Builders to Ease Property Prices

Posted on December 4, 2012 by designer

CREDAI- Real estate developers’ apex confederation asked its members to ease property prices. The real estate developers’ apex body advised its members to lower property prices for selling them off.

CREDAI national head Mr. Lalit Kumar Jain said that the real estate developers consider selling of their unsold properties at a lower rate. P Chidambaram, the Finance Minister of India, placed the suggestion in front of real estate developers.

P Chidambaram suggested the Real estate developers to consider the amount of unsold properties. He pointed out that there exist a vast number of real estate properties which remain unsold. Continue reading →

Island City Center Await display at Dubai Property Show

Posted on December 3, 2012 by designer

Real Estate Firm Bombay Realty, a wing of Wadia Group, plans to present its The Island City Center project in Dubai Indian Property Show.

Wadia Group plans to present its Island City Center project in the Indian Property Show. The Property show will be held in Dubai from December 13 to 15. Wadia Group expects to gain some business dealings with NRIs – (non- resident Indians) who reside in Dubai.

Wadia Group’s real estate wing Bombay Realty will launch its latest residential project titled Island City Center (ICC) in Mumbai. The real estate township project will be located in Dadar. Continue reading →

Migrant Real Estate Laborers Are Exploited: Say Reports

Posted on December 3, 2012 by designer

Real estate is in high demand for construction laborers. Labor shortage in the real estate sector creates higher trouble to the real estate developers.

Real estate developers find it difficult to finish their projects on time without having sufficient laborers. The real estate sector has become the second best employment -provider in India after the Information Technology. However some reports say that a few real estate developers offers cash advances to the laborers for getting them on to the work site. Continue reading →

FDI in Retail Policy Seeks Parliament Houses’ Approval

Posted on November 30, 2012 by designer

UPA government is ready to present its new FDI in retail policy in Lok Sabha for its approval. However the government seems worried over gaining approval from the Rajya Sabha.

UPA government is confident of receiving approval for its new FDI in retail policy from the lower house. But the approval of the upper house is a concern for the Congress led UPA government.

The policy of allowing more FDI- Foreign Direct Investment– in retail is said to boost the real estate sector. However the government’s decision aroused mixed opinion across the country. BSP in West Bengal and AIADMK in Tamil Nadu opposed the FDI in retail policy highly. Continue reading →

Real Estate Developers Oppose ULCA in Bengal

Posted on November 30, 2012 by designer

CREDAI urged the Bengal government to repeal urban land ceiling act. The apex body of real estate developers said that this has become a serious issue which blocks the real estate constructions.

Real estate developers’ confederation – CREDAI harshly blamed the Mamata Banerjee government to implement Urban Land (Ceiling and Regulation) Act (ULCA) in Bengal. The apex real estate developers’ confederation pointed out that Bengal is one of the few Indian states to have ULCA. Continue reading →

Robert Vadra Given Clean Chit on Real Estate Scam by PMO

Posted on November 29, 2012 by designer

Robert Vadra is given a clean chit by the Prime Minister’s Office on Wednesday. Robert Vadra – son-in-law of UPA chief Sonia Gandhi- came out of real estate land scam clean as the PMO- affidavit declared him guiltless.

Robert Vadra was alleged to have involvement in real estate land scam along with real estate developer firm DLF. On Wednesday PMO informed the Allahabad High Court that the allegation against Mr. Vadra seemed false and unreliable. The prime minister’s office told that the allegation was mainly based on rumor. Continue reading →

N.Y.’s Plaza Hotel to Get New Owner; Sahara India

Posted on November 29, 2012 by designer

India based real estate corporate attained 75 % shares of New York’s Plaza Hotel. The India –centered real estate corporate Sahara India Pariwar bought the shares from El Ad US Holdings.

Sahara India Pariwar bought 75% – shares in New York’s Plaza Hotel at a value of $575 million from another real estate firm El Ad US Holdings.

New York’s Plaza Hotel has a rich history of having world renowned figures like Eleanor Roosevelt, Mark Twain, the Beatles and Groucho Marx as guests. New York’s Plaza Hotel is situated on 59^th Street in close proximity to Manhattan Central Park. Continue reading →

Real Estate Booms around Schools of Reputation

Posted on November 28, 2012 by designer

The value appreciation of real estate properties goes ups and downs along with the presence of any reputed schools in the area. The higher reputation the school has the higher value real estate property gets.

High reputed schools normally admit children into kindergarten on the basis of local address. As a rule such schools accept the children within a distance of three to five kilometers away from the school. So the people opt for homes which are close to such schools of reputation. Real estate builders realize the importance and act accordingly. Continue reading →

Real Estate Firms Use Online Media to Shield Reputation

Posted on November 28, 2012 by designer

Real estate builders use social media as a resort to preserve their reputation. Their reputation is tainted as home buyers comment negatively on social sites.

Real estate builders hope to cover up the lost reputation through appointing online reputation managers. The necessity pushes the real estate companies to hurry up appointing online reputation managers. This is done mainly to shield their reputation.

The proposed home buyers are yet to receive their homes even after two years of expected delivery. The provoked home buyers have started using social media to express their disgust. In fact this severely affects the reputation of the real estate developers.

Real estate research firm Liases Foras recently reported that the delivery of homes will be delayed. Approximately 3, 23, 000 homes are to be delivered in 2013. Liases Foras reported that merely a half might be delivered on time. The delivery of the remaining half will be delayed. The report added that some of them will be delivered only in 2015. Continue reading →