Development of Mumbai Bangalore corridor: Cameron says ready to fund

Posted on March 9, 2013 by designer

While visiting India, British Prime Minister David Cameron told that his government would fund for the development of Mumbai-Bangalore corridor.

Camron offers financial aid to India to complete the development of Mumbai-Bangalore corridor.

Mumbai to Bangalore corridor spreads across over 1000 km. Along this corridor nearly 9 districts and a good number of cities could be built. Around 2 to 3 million of population can settle in each city. Once the project is completed, Mumbai – Bangalore corridor would be offering millions of jobs. David Cameron, the British PM, has showed readiness to help India complete the project.

Speaking about the growth potential of the corridor, Cameron said that the physical infrastructure should be developed in the first phase.The development of social infrastructure must be followed, he added.

Offering their help to finance the project, Cameron said that their government is happy to see the development of Mumbai-Bangalore corridor. Besides financial assistance to the Indian government, Britain also has showed its readiness to cooperate with India in the project.

British prime minister’s office said that the British officials had been working on the 1000 km-long corridor from Mumbai to Bangalore. It added that they already have assessed and analyzed the project well. The development of the corridor: at an estimated cost of $25 billion, will link the commercial capital with the tech hub.

Mumbai-Bangalore corridor needs to be developed, says Cameron.

While addressing the business people and workers at Hindustan Unilever Limited, Cameron told that their country could find complete solution. He added that Britain has good architects, planners and finance experts who could offer better solution to the project.

The British PM predicted that this corridor would be holding 11.8% of total GDP of India by the year 2020. 5.8% of the total population also will be concentrating on this area.

The first phase development will include physical infrastructure, consisting power generation, telecommunication facilities and other transport networks. Once the physical infrastructure is completed, the social infrastructure including education and healthcare facilities should be developed.

Development of 24 industrial cities along the railway line that links New Delhi with Mumbai has also been planned. The project will be developed with the help of Japan. However the project is moving very slowly now and has not reached anywhere around completion.

The British government also has showed its readiness to fund the project. They will fund around $1.55 million or one million Pounds. The project, if completed, would generate over a half million jobs in the country. This will be besides the indirect jobs which the project will bring in. So the total number of jobs would be over two million or even more.

Land Acquisition Bill May Boost Property Prices

Posted on March 9, 2013 by designer

Land acquisition bill may boost the property prices in the urban cities. Investors expect land acquisition bill to provide more clarity to the land acquisition process.

Property prices may go up with land acquisition bill.

The farmers may be happy to see the parliament passing land acquisition bill. Once the bill gets through the parliament the farmers will be sure of gaining more rights on their land parcels.

Though the bill will bring clarity to the land acquisition; the bill will affect the property prices severely. The prices will shoot up as the bill stands for the consent of the land owners, at least four- fifth of the entire land holders.

Industries also fear that the cost of the projects will be costlier. The land acquisition bill forces them to pay an amount, four times higher than the market price, in the rural areas.

The bill also asks them to pay a double the market price for the land in the urban areas. Project development will not be as easier as the builders have to get the permission of the land owners. Continue reading →

Maharashtra Govt. nods e-payment of stamp duty

Posted on March 8, 2013 by designer

Renovating the entire stamp duty collection system, Maharashtra Government has approved e-payment of stamp duty.

Maharashtra govt decides to go online for property tax payment.

Property transactions will be easier in Maharashtra now. And you will have more convenience on moving around from office to office, one to the other. All this will be possible in Maharashtra where the government has decided to accept e-payment of stamp duty.

To pay stamp duty for your property transactions, you may soon be spared of doing the rounds of multiple offices.

Under the new model, the stamp duty for property transactions will be collected by authorized banks. With the approval the buyers will be able to pay the property tax in the bank counter.

Under the new system, the buyer, or the one who needs to pay the property tax, can pay the property tax in the bank. However this new system is applicable only for the sum over Rs.5000.

Property deals will be easier in Maharashtra with online tax payment

Once the stamp duty is paid with the bank officer who collects the amount, the officer will return a digital bill to the payer. The bill, known as Electronic Secure Bank and Treasury Receipt (eSBTR), will look like a stamp paper. Moreover it works as a stamp paper.

While the payment is made, the customer has to provide all details related to the property transactions to the bank officer who will feed all the given details in to an online database.

The digital bill or the e-receipt is expected to be more secure than traditional stamp papers. It is the main difference between the two. Traditional stamp papers are more viable to falsifying.

Making it more secure, the category of the paper used for the receipt also will be entered in the database. So it will be easier for the officials to track the receipts and identify whether the produced receipt is fake or original.

The new system of paying property tax through banks will be first initiated in Mumbai and will be followed by Pune. The new system will be introduced in other cities afterwards.

Land Acquisition Bill, No Consensus Reached

Posted on March 8, 2013 by designer

No consensus was reached on land acquisition bill in the all-party meet held on Tuesday. The suggested land acquisition bill was strongly opposed by the opposition leaders.

Land acquisition bill: No consensus yet.

Farmers, whose lands are acquired by the government for the development of infrastructure and industrial projects, will have to wait longer. As against their expectation, the things went. It could be, as it seems, their fault to expect the government to approve land acquisition bill.

Farmers expected to get the compensation soon from the government after approving the land acquisition bill (amendment).

It was true that the government was in a hurry to pass the bill soon so as to speed up over a dozen of slow-moving projects. However the efforts of the government went in vain as no consensus on the bill could be reached in the all-party meet.

Slow land acquisition process is one of the main reasons for delayed projects. The government expected to boost the country’s downturn economy.

The government proposed speedy approval of land acquisition bill. However this was questioned by the opposition parties who did not consent with the bill.

All-party meet does not reach any consensus on land acquisition bill

If the government could pass the bill in the all-party meet it would have provided them an advantage in the upcoming general election. Fortune of the government would have improved or it was expected to do so.

Though the bill was approved by the Cabinet in last December, it still faces strong opposition from the parliament. So far the bill has undergone amendments almost 160 times. Still the parliament opposes the bill.

On the verge of the approval of land acquisition bill, the shares of the real estate firms have gone up. Shares in realty firms had climbed up by 11%. The main push in the sector was the consensus on the bill, which did not happen as expected.

Industries fear that the property prices will go up sharply in the rural and urban areas. The market price for land may also get doubled, making many more people homeless.

Foreign investors to focus on commercial realty

Posted on March 7, 2013 by designer

With the drop of home prices in many of the top cities, foreign investors now plan to invest in commercial properties in India.

Foreign investors plan to shift investment to commercial sector in India.

Foreign investors are active in the country since 2005 the year in which they were permitted. However their main investment options remained residential market due to simpler investment norms. Moreover, once the home is finished, the housing sector offered them chances to exit easily with higher returns.

However with surging number of unsold homes in the country, the foreign investors plan to shift to commercial sector now. It is true that the residential market in India is not as vibrant as it was earlier. This would be a reason what prompts them to exit from the housing sector.

Foreign investors including Blackstone Group, now plans to the move on to the commercial sector for their investment, reported Reuters. The sluggish residential is shown as the reason for their shifted interest.

Though the foreign investors are keen to invest in India due to its fast-growing economy, they do not find investment in the residential project as suitable as it was. Home prices have fallen by 5 to 30% since 2009. This fall of home prices prompts foreign investors to look out for other options. Continue reading →

Bangalore Sees Rentals of Top-End Villas Declining

Posted on March 7, 2013 by designer

Rentals of top-end villas declined in Bangalore over the past year. This is mainly due to the increased number of villa projects in Bangalore.

Top-end villas face rental decline in Bangalore

Top-end villas in Bangalore face decline of rentals.

With many upcoming residential villa projects in the city, Bangalore now sees a decline of rentals of top-end villas. Moreover the rentals are affected by the lowered number of expats in the city.

Available data prove that the rentals of top-end villas have declined by 25 to 30% in the past year.

DTZ India, a leading property consultant, reported that the rentals in Whitefield are going at lower rates. Whitefield, last year, had seen a growth of rentals from 2.5 L to Rs.4 lakh per month. However the rental rates have gone sharply down this year.

Another realty consultant L J Hooker India too reported a similar fall of rentals in the city. It stated that the rental, even at the most sought after Palm Meadows, have fallen sharply from Rs.4 lakh to Rs.3 lakh per month.

Most corporates have reduced their budgets due to the tight global market conditions. Some of them even had the plans to cut short the number of expat. Continue reading →

Godrej BKC jointly launched by Godrej Properties and Jet Airways

Posted on March 6, 2013 by designer

Partnering with Jet Airways, Godrej Properties will develop a commercial project in the Bandra Kurla Complex in Mumbai. The airline and the realty firm will hold equal shares of the project named Godrej BKC.

Godrej will develop a commercial project named Godrej BKC jointly with Jet Airways.

Real estate wing of Godrej Group, Godrej Properties Ltd. (GPL) will launch a commercial project, named Godrej BKC, in the Bandra Kurla Complex area. Jet Airways will partner with Godrej Properties for the development of this commercial project.

The construction has already been started and the project is expected to get over by 2015-end.

Pirojsha Godrej, the Managing Director and Chief Executive of GPL; while commenting on the project, said that the firm expects to create around Rs.3,500-4,000 Cr from the project. He added that the project will be completed within two to three years.

However, he kept his lips crossed when asked about the financial details of the project. So far no financial details are available.

The cost will be borne by both Jet Airways and Godrej Properties equally. They will have 50 – 50 share in the project named Godrej BKC. Jet Airways has already reserved 2.5 lakh sq. ft. of office space in the project. The total salable space in Godrej BKC is 1.3 million sq. ft. Continue reading →

Focusing affordable housing, DDA Budget 2013-14 passed

Posted on March 6, 2013 by designer

Delhi Development Authority (DDA) has recently passed its budget for the year 2013-14. The main thrust of the DDA budget is affordable housing and the preservation of green areas.

Affordable housing sector is the main focus of DDA Budget 2013-14.

In a meeting held on Tuesday, Delhi Development Authority passed its DDA budget for the year 2013-14. The budget is passed with a special focus on affordable houses. Besides the focus on the affordable houses, the budget includes special provision for the maintenance of green areas in the city.

Low-income housing or affordable houses will be boosted. However the development authority plans to develop the affordable houses in the outskirts of the city. Infrastructure projects also are likely to be boosted by the newly launched DDA budget.

DDA chairman Tejinder Khanna said that a chart will be prepared before the next meeting of the authority. The chart will include each project’s timeline and expected date of completion.

Once the chart is prepared, it will be easier for DDA to monitor the development of all projects and its delay. This will help the Authority accelerate the slow moving projects in the city. Continue reading →

Foreign retailers to drive the demand for office space

Posted on March 5, 2013 by designer

The demand for office space will be driven by the foreign retailers who now plan to expand their stores in India.

The expansion plan of the foreign retailers will boost the demand for office space in India.

The expansion plan of the foreign retailers like Starbucks, will boost the demand for office space in India.

Office space will be more demanded in the major cities where the foreign retailers plan to expand their offices. According to the market intelligence report there are many foreign retailers who will drive the demand for office space with their expansion policies.

Gron Stockholm, Hamleys, Hennes and Mauritz (H&M), Lacoste and Starbucks are a few among the many foreign retailers who set to expand and establish their business empire in India.

However their expansion plan will boost the office space absorption in the major and top cities. Continue reading →

Hot Investment Destinations in the Delhi NCR

Posted on March 5, 2013 by designer

Offering higher returns to the investors, properties in Delhi NCR remain one of the most sought after options of investment. Investors in the Delhi NCR are keen to invest even on residential plots as well.

Investment in Delhi NCR properties increases as it offers better returns to the investors.

Delhi NCR is one of the top real estate investment destinations in India. The city offers higher returns to the investors and so there are many investors who remain keen to invest in the properties in this region.

According to a recent survey, nearly one-fourth of the property investors are attracted to Delhi NCR which is second hotter destination after Mumbai. The area offers around 90% of returns to the investors.

Among the investment options in the Delhi NCR, Dwarka Expressway Corridor is the best and most sought after real estate investment destination. The area’s growth is well-supported by the infrastructure development and the location advantages. Continue reading →

Portugal welcomes Indian realty investors

Posted on March 5, 2013 by designer

Portuguese foreign minister Paulo Portas, on Monday, promised residency permits to all who will invest in Portugal. This is considered as part of their strategy to invite more non-European investors to their country.

Cities in Portugal may witness more Indian investors.

While visiting India, Portuguese foreign minister Paulo Portas promised residency permits to all the Indian realty investors who will invest in Portugal.

Citing the strategic location of Portugal, he added that it would be open the doors of Europe in front of the Indian realty investors. However the investment in Portugal is expected to provide access to the entire European Union countries.

Portugal has already approved the golden residency permit which permits the non-European citizens to have full access across the European countries in the Schengen area. However the investor is expected to invest either in the real estate or start up an industry in Portugal. Continue reading →

Housing shortage to hit India hard: Knight Frank

Posted on March 5, 2013 by designer

According to Knight Frank, India will have to face or witness severe housing shortage. One of the main drawbacks in the construction sector is funding.

Housing shortage will be one of the biggest problems India will have to deal with.

Knight Frank India has published its latest research report entitled “Economy and Realty @ Glance.” In the global property consultant’s opinion the best way to meet the housing shortage is Real Estate Investment Trust.

The report concentrates mainly on the housing shortage which India faces now. According to the property consultants the best thing to meet the housing shortage is Real Estate Investment Trust (REIT) model.

Knight Frank India suggests that the funding of real estate projects can be met with REIT effectively. Funding is one of the main problems which the developers are facing and it can be well tackled through REIT. Continue reading →

Budget 2013-14 Proposes Rs.1L Deduction to First-Home Buyers

Posted on March 1, 2013 by designer

With the Rs.1 lakh deduction on interest rates on home loans up to Rs.25 lakh, the first time home buyers alone may benefit from the Budget 2013-14 which was presented in the parliament on Feb 28.

Budget 2013-14 will help the first time home buyers

The much awaited Budget 2013-14 was presented in the parliament by the finance minister on Feb 28. This year the budget did not have many sops to the real estate sector as a whole.

However real estate sector will benefit from the budget as it includes deduction of interest in the home loans by the first-home buyers. Those who plan to buy home for the first time can gain tax exemption and deduction in the interest rates up to Rs.1 lakh.

This will have more effect on the middle income class and so the buyers of this class will have a reason to be happier. Continue reading →

Budget 2013-14: No Big Boosts for Real Estate Sector

Posted on March 1, 2013 by designer

The real estate sector was expecting that the union Budget 2013-14 would be a supportive one for them. But however the budget did nothing special to the construction sector nor did anything harmful to the sector.

Budget 2013-14 hardly helps real estate sector

Budget 2013-14 helps real estate sector only slightly.

It was true that the real estate sector had been waiting for the Budget 2013-14, with the hope to gain some benefits and boosts from the finance ministry.

Omitting the regulatory bill, industry status and single window clearances, the finance minister slapped on the real estate players sector slightly. All these were expected to be included in the Budget 2013-14.

However, the finance budget included some good measures which will improve and boost the housing sector, especially the affordable housing segment.

By providing Rs.1 Lakh deduction of interest rates to the first-time-home-buyers; for the loans up to Rs.25 lakh, the finance minister did address the buyers. This move of the finance minister is expected to drive the housing demand for the affordable housing units in the future.

Appointment of the Regulatory Authority for the road sector to solve out the issues related to the acquiring of land parcels is another positive move included in the budget. The regulator is to look after the problems of the developers who find it difficult to construct on the corridors. The regulatory authority will be reviewing the performance and policies of National Highways Authority of India.

Chidambaram's finance budget 2013-14 provide no better relief to the real estate sector

Chidambaram has to cover his face as finance budget 2013-14 provide no better relief, as expected.

The budget has also reduced tax exemption to homes above 2000 sq. ft. from 75% to 70%. This will affect the luxury housing segment and will be applicable to all homes worth over Rs.1 Cr.

Speaking about the budget and its impact on the real estate sector Supertech Realty Group’s MD Mr. RK Arora said that he felt upset when he heard the news to levy TDS on property transactions beyond Rs.50 lakh. He added that this would have a negative impact on the real estate market which is already sluggish.

Jones Lang LaSalle India’s Chairman & Country Head Mr. Anuj Puri was of the opinion that though the budget is a moderate one as a whole but was really tepid for the realty sector. He; mentioning the Rs.1 lakh deduction, added that the budget would only help the affordable housing sector in the tier-2 and tier -3 cities and not the entire sector.

Mr. Puri added that the budget’s focus on education and job creation would certainly benefit the real estate sector. Education is now a subsidiary segment of real estate and the focus on the education will boost the real estate sector.

NAREDCO President and Raheja Group’s CMD Mr. Navin Raheja said that he was expecting infrastructure status to the housing sector at least. Another expectation was the deduction of cost of finance for the construction.

In short the Budget 2013-14 provided nothing big or special to the real estate sector. The budget will help real estate sector only in a smaller way as there are some initiatives to improve the housing demand. Some of the builders fear that the increased tax on the super-rich class would affect the sale of luxury housing units.

Budget 2013 -2014: An Overall Review

Posted on February 28, 2013 by designer

Budget 2013 -14 was awaited with lots of expectations and hopes. The budget, announced by the Finance minister today, was received with mixed feeling by the common population.

P Chidambaram announced the Budget 2013.

Finance Minister announced the Budget 2013 today. This is his eighth finance budget and the first one after returning to the Finance Ministry, as its head last year. The budget slightly slapped the top-earners by imposing overload on their shoulders. Many of the luxury items will become costlier while a few common goods will become cheaper.

Foreseeing the 2014 general election, the Finance Minister remained highly keen to offer some sops to the tax payers (income). On the other hand; by raising the duties on luxury and imported vehicles, mobile phones and cigarettes, the finance minister slapped the ‘ultra-rich’ millionaires of the country.

Tax Proposals in the Budget 2013 -14

The budget proposed to raise an additional Rs.18,000 Cr in the form of tax. However the budget has not made any changes in any of the tax-slabs. Mr. Chidambaram gave a tax benefit of Rs.2000 to all the individual tax payers with income up to Rs.5 lakh.

As there is no alteration and revision of slabs the income payers will have to pay as per the existing slabs. As per the existing rates an individual with income between Rs.2 to Rs.5L will have to pay 10%. In the same way, those with above Rs.5L will have to pay 20% and those above Rs.10L will have to pay 30%. Continue reading →

Budget 2013: What it offers to Indian Realty?

Posted on February 28, 2013 by designer

Budget 2013 was expected to be a real estate friendly budget due to many reasons. Crushing the hopes of builders and realty players the Budget 2013 remain tepid to the sector.

Budget 2013 holds nothing special to the realty sector

The first time home buyers will be benefitting from this budget as the Budget 2013 has proposed Rs.1 lakh additional deduction to them. As per the proposal of the budget the home buyers will be given Rs.1 Lakh deduction for the loans up to Rs.25 lakh and Rs.1.5 lakh for the loans above Rs.25 lakh.

By raising the tax deduction limit by Rs.1 lakh, finance minister P Chidambaram aims to promote the housing sector.

Anuj Puri, Chairman Jones Lang LaSalle India, said that the Budget 2013 is not realistic as it was expected to be. In the opinion of Mr. Puri though the Budget 2013 as an overall level is a moderate one it was not so useful to the real estate sector.

Continue reading →

GHMC to Implement Penalty on Owners of Illegal Buildings

Posted on February 28, 2013 by designer

The Greater Hyderabad Municipal Corporation (GHMC) has taken the decision to collect an additional tax in the form of fine from the owners of illegal structured buildings.

GHMC to impose additional penalty on the owners of illegal constructions.

GHMC plans to impose additional penalty on the owners of illegal constructions.

The owners of those buildings which are built against the legal norms of The Greater Hyderabad Municipal Corporation (GHMC) will be hit hard as the civic body plans to levy an additional charge of property taxes on these owners. As against the existing 25% property taxes, these owners will have to pay 100% more as a fine.

The new penalty rule is likely to be implemented by GHMC on April 1 this year. GHMC is expected to gain over Rs.30 Cr in the form of revenue by this penalty as the civic body has already found over three lakh unauthorized properties in Hyderabad.

The civic body has so far assessed only 12 lakh properties; and so there is a possibility for the number to jump again.

An official of GHMC said that the new penalty will be applicable to all forms of buildings. The new rule will cover villas and independent houses, flats or apartments and so on. Continue reading →

Delayed Clearances Shoot up Property Prices: ES 2013

Posted on February 28, 2013 by designer

Delayed clearances for new buildings are one of the key factors that shoot up property prices in India. The Economic Survey 2013 blamed the government for delayed clearances which result in the hike of property prices.

Property prices shoot up as a result of delayed clearances.

According to the Economic Survey 2013 report the property prices shot up in India by 40% due to the undesirable delay in clearances. As the builders are to gain around 34 clearances for starting any project, it takes at least six months’ time for beginning. By the time the property prices rise highly.

Economic Survey for 2012-13 in its report submitted in the parliament pointed that the housing and realty sector faces many challenges in India. One of the main challenges is undesirable delay in clearances.

The Survey adds that the average time taken for all clearances is 196 days. This delayed period alone shoots the property prices up to 40%.

Citing the World Bank’s the latest report by, the survey said that India ranks 182nd in construction clearance processes. Meanwhile the Subcontinent is one of the top countries in terms of housing and work-space demands. Continue reading →

Domestic Demand Drives the Growth of Tier-2 Cities

Posted on February 27, 2013 by designer

Tier-2 cities of India have been witnessing a stabilized domestic demand for residential as well as commercial properties. In fact the domestic demand drives the growth of tier-2 cities.

Tier-2 cities will grow as a result of domestic demand and not on foreign or NRI investors.

Unlike the big cities which witness the demand of NRIs and other HNIs, the smaller cities or tier-2 cities are growing due to the domestic demand for residential and commercial properties. Property prices in these cities are more stable and not rocketing as in the other major cities.

When surveyed among the occupants of tier-2 cities, majority of them opined that the property prices will stand stable in these cities. However a few said that the property prices will be increasing by 70% by the next year. Continue reading →

Faridabad Set To Compete With Gurgaon and Noida

Posted on February 27, 2013 by designer

With high paced infrastructure development and growing transportation facilities, Faridabad is slowly emerging as one of the best realty locations in the NCR.

Faridabad real estate booms along with widening of Highways.

Faridabad has already become a hot spot for the realty players. Many of the most noted real estate developers of the NCR region have their projects in the city now.

Though the city is facing hard-hearted competition from other neighboring cities like Gurgaon, Noida and Greater Noida, it still has achieved a place among the hot real estate locations in the NCR region.

Compared to other neighboring cities the city is more suitable and demanded by middle income class group. Viewing the increasing population level; in the city Haryana Urban Development Authority has launched a 20 year development plan for the city. Continue reading →

Green Norms to Be Eased For Real Estate Construction

Posted on February 26, 2013 by designer

In a step to boost the real estate construction, the environment ministry now plans to ease green norms. Once the green norms are eased more high-rise buildings can be constructed.

Easing of Green Norms: a green signal for high-rise apartments.

The people may see builders developing more high-rise buildings on the side of smaller roads and streets in the cities. Yes, this will be possible if the environment ministry eases the green norms for the construction sector.

By laying down the rules which limited the height of a building, the environment ministry had made it tougher for the real estate developers to create taller or multi-story buildings in cities. The height of the buildings was determined by its closeness to the nearest fire station and many other things similar to this.

Right now a 60-metered building will be given the clearance certificate only if the building is on a 30 m or above wide road and have a fire station within two kilometers distance. Continue reading →

Thane: Connectivity-Based Popular Realty Destination

Posted on February 26, 2013 by designer

Connectivity is considered as one of the major factors which makes Thane in Mumbai as one of the top most and popular realty destination. In fact connectivity fuels Thane’s popularity.

Connectivity holds the growth-key of Thane.

A few couple of years or decades back, Thane remained as an unpopular suburb in the Mumbai Metropolitan Region, right now this has become one of the most popular suburbs in the region.

Though the well planned development and schemes of the Authority plays a key role in the growth of Thane, the main role is played by the connectivity which has attracted more population to the city. Along with the infrastructure growth the connectivity of the area got developed.

The area is all set to be a fully–developed city in all spheres. With easier connectivity to Brahamand, Ghodbunder Road, Owala and Patlipada, the city becomes a hub for all the other areas of the city. Moreover there is a simultaneous and concurrent growth of commerce and infrastructure in the city. Continue reading →

Sahara Group in Deep Troubles: Delhi-Based Investor Moves SC

Posted on February 25, 2013 by designer

Leading Sahara group in to more trouble, a Delhi-based investor approached the Supreme Court last day. He requested the SC to give directions to redeem his investments.

Sahara to face more troubles

Requesting Supreme Court to give directions to redeem his investments; the petitioner claimed that he is one of the real OFCD investors in the Sahara List, a Delhi-based investor approached SC. The petitioner claimed that he had invested in one of the Sahara group companies.

He requested the Apex court to direct the Sahara group firms – Sahara India Real Estate Corp (SIRECL) and Sahara Housing Investment Corp (SHICL) to pay back his due.

Though there were around 3Crore investors as per the list produced by Sahara before the SC and SEBI, this is the first time one of the investors came up against the firms. However finding some dubious facts in the investors’ list, SC had ordered the subsidiary firms of Sahara to refund over Rs.24000 Cr to the investors as a fine. Continue reading →

Property Investment: Pre-Launch Properties Remain Better

Posted on February 25, 2013 by designer

Blooming real estate sector makes property investment probably the best investment option. However the returns are more when they are invested in pre-launch properties.

Property investment in pre-launch projects better as it offers better returns.

Property investment in pre-launch projects is better as it offers faster returns.

The booming nature of real estate market is one of the main reasons which attract the investors to property investment. There are many who have invested in much number of properties. Other forms of investment are incapable of providing better returns as quickly as property investment does.

For them property investment is a faster means to earn better and higher returns and financial benefits. Bank deposits and other financial schemes are only secondary to the property investment.

The most sought after location for property investment is Gurgaon. In fact the city is more or less has become an investor-driven market. However according to many experts the property prices are rocketing in the city mainly due to the presence of vast number of investors. Continue reading →

SEBI Warns the Public against Dealings with Sahara

Posted on February 22, 2013 by designer

The Securities and Exchange Board of India (SEBI) urged the public not to enter into any dealings with two firms of Sahara Group whose properties are attached by SEBI.

SEBI warns investors against their dealings with Sahara.

SEBI shows ‘danger sign’ to the investors against their dealings with Sahara.

On February 13, the Securities and Exchange Board of India ordered the attachment of all movable and immovable properties of Sahara India Real Estate Corp Ltd and Sahara Housing Investment Corp Ltd. Along with the attachment of properties of these firms, the properties of their three promoters and directors also were attached by SEBI, the Market Regulator.

SEBI froze the projects of both the Sahara firms as they failed to comply with the Supreme Court order. In 2012 August, SC had ordered these firms to repay over Rs.24000 Cr to the OFCD investors. Additionally the SC had empowered the Market regulator to seize the property of these forms in case if these firms failed to pay the amount within the prescribed time. Continue reading →