Gammon India fell in trouble as the company ended in a financial loss in the 3rd quarter of the current year. The company officials pointed to the higher financing costs as a main reason for the loss. The sales of the company went down. This is said to be another reason for the loss. Continue reading
The term ‘farm house’ remained on the top headlines as one of the leading real estate developers Mr. Ponty Chaddha was shot dead at his farm house. Yet this incident should not be considered as a negative thing rather it pointed that the wealthy people are after farm houses. Continue reading
The plan of Air India to lease vacant floors in Nariman Point headquarters is fronting tough market conditions. However Civil Aviation Minister Mr. Ajit Singh said that he is confident of working out the plan to monetize the real estate properties of AI.
Air India’s plan to monetize the real estate properties was meant to raise Rs.5, 000-Crore. The government owned National Carrier had expected to raise the fund by leasing or selling of real estate properties in Delhi and Mumbai. Continue reading
Capital Market Regulator – SEBI appealed for criminal proceedings against Sahara Group head Mr. Subrata Roy and other managing directors of the group. SEBI alleged that the group has violated some regulatory orders.
Earlier on August 31, Supreme Court had ordered India Real Estate Corporation and Sahara India Housing Corporation to refund Rs.17400-Crore. The SC had been convinced that the prescribed amount was collected from about 3-Crore investors through Optionally Fully Convertible Debentures (OFCDs). These OFCDs offered 15% interest to the investors. Continue reading
CREDAI showed higher discontent over the MHUPA’s new Real estate Bill. The officials of CREDAI said that the bill will foster corruption. The new Real estate Bill is roughly welcomed by the real estate developers.
The Confederation of Real Estate Developers’ Associations of India have nearly 8,800 developers as its members. The CREDAI members represent 20 States of India. The apex body has 114 city- divisions across the country. Continue reading
Indian real estate firm targets Indiabulls Real Estate Ltd. is all set to start their maiden overseas office in the UAE. The real estate firm has so far developed nearly 3.3 million sq. ft. of area at an estimated cost $1.75bn. The past four years witnessed a tremendous growth of the firm.
The company officials revealed that the company aims to help the UAE NRIs purchase and invest on real estate property wisely. The local representative office will boost their real estate investment in fact. Continue reading
Recently it was reported that nearly 90% of NRIs living in the United Arab Emirates (UAE), prefer Real Estate Investment. Most of them prefer to buy homes in India not with the plan to return rather as a safer means to invest their additional income. The survey pointed out a six point growth in comparison to the previous year.
Rupee’s lower value, volatile nature of stock markets, etc. are said to be enhancing factors for Real Estate Investment. Moreover the sluggish real estate prices often bring in higher returns. Besides all the above factors, availability of bank loans plays a prominent role. Continue reading
Sukhbir Singh Badal said that Punjab government will launch a new real estate policy. The new policy will direct the real estate to better development.
While addressing the real estate developers at a conference organized by CREDAI, Mr. Badal declared that the new policy will be implemented by 15th of December. Continue reading
Many real estate developers demand payment in cash at least up to 30 % of the total amount. This denotes to the existence of Black money in real estate industry. The existence of Black money costs India tax worth billions of rupees.
India government is to bring Legislation which will assure more transparency to the real estate dealings. This legislation will be discussed in parliament’s winter session. Continue reading
As per the report of Knight Frank, global real estate consultant agency, Ulwe is to witness a price hike by 145 %.
As per the report Wadala and Chembur in Mumbai stand on the second and third positions respectively. The report records that both these areas will have price hikes at the rate of 133 per cent and 125 per cent in the coming five years. Continue reading
Sources related to Real Estate reported that luxury homes are more demanded. Festive offers and free gifts, greater number of non-resident Indians (NRIs) investment, altering lifestyles, etc. are pointed as the causes of this new trend.
According to the available sources luxury homes worth Rs. 20-Crore, or even more, are demanded in some of the metropolitan cities of India. Luxury homes with price tag of Rs. 1-Crore also are demanded highly. Continue reading
Both Michael Schumacher and Maria Sharapova are endorsed with real estate firms. Diego Maradona came to India to endorse a jewelry group.
When India was in the F1 mood, Homestead Real Estate brought in Michael Schumacher to endorse its debut real estate project in India. Honoring the seven times F1 world champion their superior class luxury project at Sector-109, Gurgaon is named ‘Michael Schumacher World Champion Tower.’ Continue reading
During a press conference Mr. Ajay Maken said to the media that the MHUPA is about to set up a regulatory body for protecting the home buyers who often face severe troubles from the real estate developers.
On the same occasion the MHUPA Minister did not forget to stress on the need of proper planning in the residential sector. Continue reading
The police detained nearly 15 people most of them belong to the security personnel of both Chadha brothers. As per the available sources there existed a dispute over some real estate properties. This dispute led to the doom of both of them.
Both Chadha brothers were killed in a shootout. Police is likely to find the culprits and make arrests. Meanwhile the suspected security personnel are held in custody at Mehrauli police station for further questionings. Continue reading
Air India is all set to raise the fund required for overcoming the current financial crises. The National Carriers have already instructed DTZ International Property Advisers Private Limited, the real estate consultant of Delhi. Continue reading
Andhra Pradesh Government has launched single window system for approving the building plans of real estate projects. CREDAI appreciated the real estate reforms like online building plan approval and single window system. Earlier this year the apex body of the real estate developers had asked for speedy clearance. Continue reading
Fall of Indian rupees drags the NRI investment in India. Most of the NRIs invest on properties. Sumansa Exhibitions’ survey revealed that 89% of the NRIs of UAE invest in real estate. Continue reading
Gurgaon real estate witnessed the launch of large numbers of residential projects. The demand in the city was paced up by festive season and lower interest rates. Yet due to the hike of prices, many could not purchase any home on this auspicious Dhanteras.
Festive season welcomed large number of residential projects in Gurgaon. The real estate developers had been waiting for the festive season to launch their newer projects.
Sanjay Sharma, Managing Director of real estate consultancy Qubrex, revealed that the booking for the new residential projects are really welcoming.
Higher demand has caused price hike in some of the sectors of Gurgaon. Sector 104 Gurgaon is one among them. The property prices have gone up by a huge margin here. The same is the case with most of the sectors. For example some projects have received an increase of nearly Rs.2000 per sq. ft.
Gurgaon real estate has become a high yielding land for real estate investors. The growing importance of the city has attracted more real estate investors to the area.
Real estate investors are always interested in new projects. Most of such new projects offer repayment schemes which are mainly dependable on the construction. Easy payment scheme and the required lower amount of investment make it more profitable to the real estate investors.
Some of the sectors of Gurgaon has seen low absorption rate. PropEquity’s CEO Samir Jasuja pointed a 47% drop in year to year in the absorption in south Gurgaon. Meanwhile the rate of absorption drop in New Gurgaon is 31%, he added.
Dwarka Expressway has received some newer projects. New launches are increased by 74 % while the increase in absorption rate is mere 12%. These figures describe how demand lags behind the supply.
One exception to this situation would be Dharuhera which witnessed a fall of new launches by 85 %. The area boasts of a 27% increase of absorption too. Such trends are welcomed as they are promising.
The Gurgaon real estate is not only supported by the festive season. The lower home interest rates by the banks played a vital role in the boom of Gurgaon real estate. Lower interest rate has persuaded the investors to greater extents.
Festive season which was supported by the lower interest rates caused a growth in the home purchasing. Yet the hike in prices drove the people away from purchasing homes during this festive season. The reports show that auspicious occasion of Dhanteras dragged the people to a great level and real estate stood top on all the Dhanteras purchases.
Hyderabad real estate has shown higher pace of development. with the arrival of new Metro Rail plan the city is to gain more transmit system which will in turn cause more demand.
Hyderabad Metro Rail (HMR) Managing Director N.V.S. Reddy has remarked that the cities tend to get reoriented to mass transportation systems. Property prices in these areas behave in different ways.
While participating the conference ‘Real Estate: Accelerating the Growth Story’, conducted in relation to the APREDA Property Show-2012, Mr. Reddy expressed his hope that the proposed Hyderabad Metro Rail will boost Hyderabad real estate growth.
Property Show-2012 by the Andhra Pradesh Real Estate Developers’ Association (APREDA) showed greater transit oriented development in Hyderabad city.
The proposed metro rail will fast up the Hyderabad real estate to boom in the eastern parts. While addressing the conference and Hyderabad real estate property expo, Hyderabad Metropolitan Development Authority (HMDA) Commissioner, Neerabh Kumar Prasad urged the Hyderabad real estate developers to construct affordable homes.
He added that larger segment of the people are looking for low budget homes which fall below Rs. 20 lakhs. He further stressed the need of reducing land cost in achieving such low cost homes.
Mr. Prasad mentioned of special incentives to the real estate while concentrating on high rise development which will be transit oriented development. He pointed that both HMDA and HMR are moving forward with TOD concept.
According to this TOD concept, an area in a circle along each metro station will be notified. When the metro rail gets the shape, the area along the outer ring road will become prime land for real estate development.
HMDA’s Mr. Prasad said that the Authority is ready to help in the infrastructure growth of the area. He added that this is only for reducing the prices of the residences by facilitating as much supply as possible. Higher supply will push down the demand and prices, he expressed his hope.
Highlighting the higher impact of existing political situations on Hyderabad real estate, Jones Lang LaSalle’s Anuj Puri stressed the need of creating Tier-II cities. Creation of such Tier –II cities will take the heavy burden away from the Hyderabad, he continued saying.
The Hindu reported that the property show draws huge number of people. Larger number of crowds who showed genuine interest in purchasing homes really filled the real estate developers’ mind with new hopes. However the property expo could drag the people to a greater level and what we want to see next is how far the metro rail will boost the Hyderabad real estate.
CBI to investigate into Noida Authority Case. (Image source )
Mr. Sanjeev Saran and Mr. Rakesh Bahadur were appointed sooner than the Samajwadi Party rose to power in U.P. Mr. Bahadur was earlier the chairman of Greater Noida and Yamuna Expressway Authorities.
The duo had been alleged of allotting lands to the real estate sharks. Nearly 14 plots of real estate land were allotted at comparatively very lower price. This act caused the state government a loss of Rs. 4,700-crore. Continue reading
Hyderabad Real Estate to Get Luxury Oriented Smondo From Patel Group (Image Source )
Mumbai-based Patel Engineering Limited plans to invest 75-Crore in two real estate township projects in Hyderabad. The Mumbai-based construction firm is specialized in hydropower generation and irrigation. Continue reading
Chennai Real Estate Seems to Be in Safer Hands. ( image source )
Chennai and Bangalore are two prominent South Indian cities which generate new business. Both the cities have witnessed a higher level of growth in the recent past yet Chennai real estate stands little higher.
Real estate sector in both these cities are growing very fast. Of course Bangalore might stand steps ahead regarding the maturity aspect. Market growth of Bangalore which preceded that of Chennai can be counted as the reason behind this. Continue reading
Residential Sales Faces Trouble Mainly from Surging Prices
Real estate builders normally foster residential sales by granting discounts. This is not seen in the present real estate situation. The real estate builders seem not willing to lower the prices at any cost. They point to the increased cost of production. Continue reading
Badshah of Bollywood Gets New Endorsement from Real Estate Firm (Image Sr.- flicker)
Endorsements always act as Extra Avenue of income for most of the Bollywood stars other than acting in films. Most of these endorsement deals bring a huge amount into their bank accounts. The rate of amount varies according to the rating of the star. Normally bigger stars get bigger amounts and it comes down in the order of hierarchy.
Latest of all Bollywood star endorsements is the SRK’s endorsement with an NCR based real estate developers Mahagun. Continue reading
NRI faces Sales Tax Liability in Selling of their Real Estate Property.
Before selling the property an NRI must be aware of some basic rules and regulations which govern the sale of any property in India.
As real estate investment is considered as the most suitable option for investment, NRIs are tempted to invest more on properties especially in hotter areas like Mumbai or Bangalore. Continue reading
