Keerthi Estates Brings Up Luxury Villas in Hyderabad

Posted on April 30, 2011 by admin

Hyderabad-based real estate developer Keerthi Estates, with huge experience and long term operations in Hyderabad and Bangalore, has launched its premium luxury residential complex – Richmond Villas – in Hyderabad. The gated-villas project, consisting of 157 (4bedroom) villas, is coming up over 24 acres of blossoming green land near Andhra Pradesh Police Academy circle, close to the new International Airport.

Managing Director, Keerthi Estates, K Anil Kumar Reddy, said, “Each villa, ranging from 3,400 sq ft over 300 square yards to 4,000 sq ft over 466 sq yds, will be built as triplex and will have a huge multipurpose hall, which could be converted into a mini theatre or bar or gym based on the buyer’s choice”. Each villa would cost between Rupees 1.25 crore and Rupees 1.85 crore.

The project is well connected to all the reachable amenities within 10-15 minutes like hospitals, educational institutions and shopping, the IT hub, financial district, Hi-tech city, international schools. The company has to complete the project by the end of 2013, so it has already taken all the approvals for the project and began construction. They have already completed two model villas and work on 15 villas is now at a later stage. There has been good response to the project so far and more than 30 villas are booked.

With around 52 per cent open area in the gated villas project, the company is offering key facilities such as a smartly designed clubhouse along with sports facilities, a swimming pool and an air-conditioned gym among others. The project also offers a waste management system with sewerage treatment plant, supported by water harvesting system and solar fencing all around.

Keerthi Estates has so far built over 3-million sq ft of residential and commercial space and some 1 million sq ft is currently under development in Hyderabad and Bangalore.

11% Hike Observed in Mumbai Rentals

Posted on April 25, 2011 by admin

Rising real estate rates may have resulted in a spiky decline in property sales, but it has lead to a good growth in rental value in Mumbai and other metropolitan cities in the country. Mumbai and the outskirts of the city have seen an 11% growth in rental value in the past year. The figure for Bangalore, Pune and Delhi has shot up by 13%, 11% and 9% respectively.

Unexpectedly, rental value in South Mumbai, one of the most preferred locations to stay in the city, has seen a drop. The Worli residential market saw a 21.31% drop last year, while the figure for Prabhadevi, Parel and Bandra (West) fell by 18%, 12% and 11.57%. “The rent in South Mumbai had gone up to the roof. It is still unaffordable. So, people are shifting towards the suburbs and outskirt of the city,” a real estate expert said. However, the rental value in the suburbs too has shot up radically. Borivli (West) witnessed a record of 42.25% growth, while the rates have shot up by 35.04% in Powai, 28.32% in Malad and 20.40% in Kandivli (East). The Mumbai metropolitan region too has seen a rise in rental value. The figure for Mira Road and Seawoods shot up by 39.28% and 36.36% respectively in the past year.

A real estate expert featured the rise in rental value to exorbitant property rates in Mumbai. “People prefer to stay in rented homes instead of buying a house. Also, there is a huge arrival of people in the city. As a result, there is a huge demand for rented homes,” a study says. Government data compiled by the stamp duty department also shows that there is a 35% of rise in the number of lease agreements being signed in the city.

DLF Deals with Mango: Ramps its Presence in Fashion Retail

Posted on April 19, 2011 by admin

DLF Brand, a subordinate of DLF Ltd, has come up with its presence in fashion retail trade by collaborating with the Spanish Brand Mango. This happened since the brand announced its two other new retail trends, including a multi-brand showroom chain, of its own. The DLF group company had also launched, for the first time, its own brand, Pure Home and Living, a premier home decor and furnishing brand of retail showrooms. The first of the showroom opened in Delhi two months back competing with Future Group’s Home Town and Landmark Group’s Home Centre.

Mango, the Spanish Fashion Brand, with over 1,700 showrooms worldwide, decided to sign up DLF as partner to fast track its expansion after nearly a decade of operations in India. The Spanish Brand of clothing has been majorly in partnership with Major Brands through which it released almost 15 stores. DLF will be leading the new showrooms openings. DLF, which has already opened Mango’s travel retail showroom at the new terminal (T3) of New Delhi airport and plans to add another six more stores in the current year, said DLF Brands CFO Dipak Agarwal.

“The major collaborations are now looking to grow assertively here in India having been around for so long. The company wants to concentrate on brand-building and designate the expansion to its franchisee,” Agarwal added. DLF also operates other universal fashion names such as Armani, DKNY, Ferragamo and Mothercare.

DLF is set to launch a multi-brand retail store chain of international fashion brands, the company official said. These showrooms will also store brands that are not part of DLF Brands and will be competing with the high-end retail formats like The Collective, a unit of Aditya Birla Nuvo.

“The multi-brand showrooms will be like a premium discount showrooms keeping high-end fashion labels but at lower price, as there is an opportunity in the market for such showrooms which are highly internationally popular. These stores will be done up gracefully and won’t look like the second stores or factory outlets which are available at present,” Agarwal said. The first of the multi-brand showroom is spread across 10,000 sq. ft which will open in Gurgaon.

DLF group spreads across 16,000 to 18,000 sq. ft is looking to open more 4-5 stores in Mumbai, Bangalore and Pune by end of this year.

TATA Housing Development enters into Redevelopment of Old Buildings, Mumbai

Posted on April 16, 2011 by skgupta

TATA Housing Development, a subsidiary of Tata Group is entering into its home market in Mumbai by taking up project of redeveloping of old building complexes. The developer has started operations pan India which has been restricted to building townships and residential complexes adjoining the Greater Mumbai.

Brotin Banerjee, Managing Director & CEO, TATA Housing Development said, “we expect to start doing the premium housing project of redevelopment of the societies in the western suburbs of Mumbai such as Andheri and Bandra. However, in such redevelopment projects societies normally they call for bids, which make it quite competitive. This was told to Financial Chronicle.

The company hopes that its reputation for ethical behavior would get preference even if its bid is lower than others as these societies have had bad experience when dealt with lesser known realtors.” Unlike certain other developers we cannot cut corners or engage in illegal activities as these would violate the TATA code of conduct”, so it would be safer for the societies to go with developers who don’t bend rules and give a better quality housing product said Banerjee.

“These projects would help us ensure that premium development brings in around 60 per cent of our revenues this year even though they will constitute only around 40 per cent of the number of units being constructed,” said Banerjee. The company currently has 45-50 million square feet of area under development. This is split across value and premium housing respectively and includes around four to five million square feet of commercial and office development.

The company expects the first such development projects to be signed up over the next 6-9 months. “Under the Smart Value Homes and New Haven brands itself we have 15,000 homes under construction,” he added.

By the end of this fiscal year the company hopes to have operations in Kolkata, Mumbai, Pune, Ahmedabad, Khandala, Chennai, Hyderabad, Bangalore, Chandigarh and the National Capital region.

Real Estate Developers Tie-Up With Education Industry

Posted on July 2, 2010 by vishal

YorkLanes Mall
Po.Realty sector and Infrastructure firms like GMR and Hindustan Construction Company have announced to set up university campuses and other educational institutes within the country. They mainly aim to ride high on the huge returning education industry.

The education industry in India is worth more than 10 bn US dollars with continuous growth rate. As the Real Estate market is on a low developers are looking at alternate assets such as education.

Partnerships of such kind are increasing day by day in every other township or SEZ as educational institutes bring more revenue.

Chintan Patel, Associate Director, Transaction Advisory Services, E&Y said, “Access to social infrastructure such as schools and colleges serve as attractive features that make it easier for a developer to sell projects.”

Further he had to say that partnerships between a developer and an international institution benefits society and develops retail, office and residential spaces around.

The tie ups usually work on build-and-rent business model. While a developer acquires the land and builds the infrastructure for the educational facility, the institute runs the school or college. It either pays rent or works on a revenue-share model.

The companies which are laying out plans in education are HCC who have bought 500 acres for institutes at Lavasa, its hill city project close to Pune, Maharashtra.It has tied up with Symbiosis, Bangalore-based Christ University, Institute of International Business Relations of Germany, Switzerland-based hospitality Management Institute Ecole Hoteliere de Lausanne and Educomp, and more.

Global infrastructure player GMR, too, has collaborated with Canada-based Schulich School of Business to build a campus in Shamsabad, Andhra Pradesh, The Company will construct the physical infrastructure for the institute, and in return, earn management fee on the maintenance of residences and hostel facilities. Also, it is planning an aviation academy on 25 acres in the same region, fueled by its international airport project in Hyderabad.

Yatra Capital to Increase Investment In India

Posted on June 29, 2010 by vishal

Panama Property = Money
Photo by thinkpanamaEuronext-listed company, Yatra Capital managed by Saffron Capital Advisors, an Indian Real Estate Private Equity fund has announced to invest around 20 million Euros in India in FY10. The company plans to invest the Rs 115 cr in two deals in the domestic sector of real estate. The company has as of now invested about Rs 916 cr in 13 projects which include 2 entity-level details.

The weighted average Yatra Equity Fund covers 27 million square feet spread over nine cities. They have sold or pre let over 3 million square feet across various projects.

The chairman and Co-Founder, Yatra Capital, Mr. Christopher Wright said, “In India, one needs to be very careful on Real Estate investments as the market is volatile. After a drop in 2008-09, the realty sector is now moving up. The Indian economy is growing well making people more confident on future investments. We have invested 44% in residential projects, which would be our focus area in future. We always look at investing in affordable residential projects in tier I and II cities.”

Yatra has invested in 90 cr Residential Project and 97 cr Market City Retail Project at Pune, 115 cr in Riverbank Holdings, 91 cr in forum IT parks and 23 cr in Taj gateway at Kolkata, 160 cr in market city at Bangalore and 57 cr at Nashik.

It has entered partnership with Phoenix Mills for 5 various projects across Bangalore, Pune and Mumbai.

A presentation by Yatra to investors in March this year said, “Most markets have seen positive traction due to price cuts. However, developers have now started raising prices especially in Mumbai and the National Capital Region which has led to a slowdown in sales. Projects where pricing is realistic continue to enjoy healthy absorptions. The monetary environment tightening may impact the fund raising environment for many real estate companies still out to raise money. Investor enthusiasm for participation in realty IPOs remains muted.”

India’s Silicon Valley- Bangalore

Posted on June 14, 2010 by vishal

Photo by dno1967Bangaluru has over the years gained immense popularity as the hub for IT industries in India. With great opportunities like world class education, working environment, living standards it is not wrong to mention it as the “The Silicon Valley of India”.

Many non-Bangaloreans now call the city their home. It is interesting to note that over 10,000 dollar millionaires and about 60,000 super rich people are currently living in the city with huge investments to make. All these have made Bangalore a hot spot for Real Estate Market, both Residential and Commercial.

Residential market has seen some significant action with many developers like Prestige and Sunil Mantri, Sobha, rolling out new projects in micro market segment. Some of the key areas in Bangalore, where the residential demand has picked up, are Sarjapur Road and Whitefield, Doddakanenahalli and, Jayanagar.

The supply is growing in line with the revived commercial real estate demand. Latest report from Cushman & Wakefield implores that the total projected supply for the current year is 12.42 million square feet of office space, more than twice the supply delivered in the year 2009.

Indian Market Research Bureau (IMRB) conducted a survey among 5 cities, amongst individuals aged between 25-39 yrs, stated that Mumbai and Bangalore are the most preferred places to live as the cities provide the best quality of life as well as the most courteous people. Bangalore is also identified as a city which is in the process of development on multiple counters – numerous projects have been initiated in areas of Infrastructure, Power, Water, and Sanitation.

All this indicates that this will be a good investment destination, hence attracting FDIs and NRIs fund flows as time goes.

13th India Realty Expo’10 A Success

Posted on June 14, 2010 by vishal

The India Realty Expo 2010 organized by the Maharashtra Chamber of Housing Industry (MCHI) in Dubai was a great success. It was the 13th year of the realty expo and 9th consecutive year of the expo in Dubai. The exhibition held from June 3, 2010 to June 5, 2010 saw a presence of total 2847 NRI’s. The event’s success can be contributed to the fact that the exhibitors were offering ready properties or possessions between 3-6 months.

The Exhibition was inaugurated by his Excellency Mr. Naresh Mehta, Consul Commerce of India, Consulate General of India, Dubai-U.A.E on June 3, 2010.

Eighteen leading developers and builders from India including Acme Housing (India) Pvt Ltd., Akar Creations Pvt ltd., Ashiana, Delta Group, Everest Developers, Godrej Properties Ltd, Hiranandani Constructions Pvt Ltd, Kolte-Patil Developers Ltd, Marvel Realtors, Nahar Group, Nyati Group, Our Town, Pathy Housing, Runwal Group, Rustomjee, Uma Constructions- represented by United 4 realtors participated in the exhibition.

Indian_Consulate_03_07_2010-36
Photo by vasofoto.comMr. Sunit Mantra, President MCHI said on the occasion, “Looking at the factors such as attractive prices of Indian Real Estate as compared to Dubai coupled with a lackluster trend in local markets there, turned out a bonanza for the Indian realtors exhibiting their properties in the Dubai exhibition with investors and genuine buyers visiting in large number this year.”
The Hon. Secretary, MCHI, Mr. Deepak Goradia said, “We have seen tremendous response and turnout for the exhibition this time. Projects in Andheri, Powai, Navi Mumbai, Kandivali, Borivali, Bandra, Ghatkopar, Thane from Mumbai and other cities such as Bangalore, Goa and Pune received a lot of enquires for residential flats. Quality of visitors was good and mostly they were affluent, focused and high end consumers. Moreover visitors showed interest in 2/3 BHK flats ranging from 60 lacs to 1 cr.”

The Indian Real Estate Industry has only reasons to cheer in the time to come.

The RBI’s Realty Indices For Ahmedabad

Posted on June 8, 2010 by vishal

Ahmedabad happens to be one of the 11 countries for which the reserve bank of India would prepare one index for commercial and one for residential properties. This is done to curtail speculations and expected realty bubble burst in the coming years. The RBI report on asset price monitoring system (ASMS) advised to formulate these indices two months back.

Reserve Bank of India, Kolkata
Photo by seaview99

Many different countries such as Canada, France, us refer to these indices for realty prices.

The report says, RBI should start compiling a realty index and update it every quarter. To begin with, the report has proposed Mumbai and Delhi where property prices have skyrocketed to record levels. After these cities RBI would add 10 other cities which include Greater Chandigarh, Hyderabad, Chennai, Bhubaneswar, Pune, Jaipur, Kolkata, Lucknow, Bangalore and Bhopal.

The real estate price index once devised would become the primary index that could be perused by investors to gauge the performance of companies that are listed in the realty sector. The index can also help the investor analyze how real estate is performed in comparison to stocks and bonds. It can also provide information on the risk involved in a particular investment and returns that can be achieved from it.

The ASMS report has defined the deficiencies this indices would help overcome.

Beary’s Group Bags Prestigious Prize

Posted on June 4, 2010 by vishal

A Bangalore based residential project has won the runner up award by the International Real Estate Federation (FIABCI). ‘Bearys Lakeside Habitat’, a twin tower residential project was awarded the prestigious award on May 27 at Bali, Indonesia.

Photo by [ecpark]The ceremony was held in the presence of the President and the First lady of the Republic of Indonesia along with many other renowned developers and dignitaries especially flown in from around the world.

The project promoted by the Bearys Group, ‘Lakeside Habitat’ that welcomes you to the city as you drive into it from the airport is the only Indian project to win this award this year. This is not the first time that Lakeside Habitat has won an award; it has been recognized on many previous occasions also.

There were fifty-four projects chosen from across 11 countries to compete for the coveted Prix d’ Excellence award 2010.

The award was received by the Director of Beary’s Group, Mr. Siddique Beary.

Indian Real Estate has once again a reason to rejoice.

Survey on Realty Growth

Posted on May 21, 2010 by vishal

contact: rajkamal.aich@gmail.com
Analysis of the growth in real estate sector in last few years was performed. It revealed some very interesting statistics of the growth. The facts go like this:

In 2007, the office sector experienced highest demand. Grade A office space of about 32 million sq ft leased out in that year. But after that, it has been a decline throughout. In 2008, it reduced to 28 million and a further decrease to 21 million in 2009. However, now a growth back to 28-29 million is seen. Although it is less than what was in 2007, but still is complementary. This demand majorly comes from infrastructure companies, from Indian corporate who wish to merge, from pharmaceutical etc and it is at pace in Bangalore, Delhi and Mumbai.

After the office space, we move on to the residential sector, where once again these three cities are putting their landmarks. Even on the account of increasing prices, these cities have managed to go through a rise in demand. In cities like Mumbai where the pricing went through a downfall of around 25-30%, it has once again come back with the demand as well as pricing. However, the situation is not the same in the other regions of India as far as residential sector is concerned.

Next comes the retail sector. This sector has not seen much growth. Although the demand from some new Indian corporate, the existing retailers and many foreign retailers, this sector still seems to be gloomy for now.

Emergence of Commercial Complexes

Posted on April 27, 2010 by vishal

Complex - Roland in Vancouver (035)
April 27, 2010

As per some senior executive of JLLM, Jones Lang LaSalle Meghraj, integrated commercial space developments is following the steps of integrated residential complexes and is thus expanding in India.

Mr. Anuj Puri, th Country Head of JLLM said that this is an upcoming trend as well as a saleable one.

Such projects house office space, five-star hotels and retail area among other facilities.

The project in Bangalore from Brigade Group is an example of such projects while there are many more such projects queued up.

As per the expectation of Puri, the margin builders have kept in these projects is higher than that in other projects.

Other examples of such projects are Capital City by BPTP Ltd in Noida which is spread across 21.17 acres and comprises 2.1 million sq ft of office space, Nirmal Galaxy by Nirmal Lifestyle at Mulund in suburban Mumbai.

One of the builders said that there is no doubt in the success of such projects since their housing counterparts are already a success.

The Indian Hospitality Industry-An overview

Posted on March 22, 2010 by vishal

Indian hospitality industry has emerged as a hotspot destination for investment for the global hospitality companies in the last few years. Many leading global hotel chains aim to enter India in the near future and the ones that are already present in the country as of now are eager to expand. The companies are betting big on dearth of hotel rooms in the nation.

ATTARD - Hôtel Corinthia Palace
Photo by Michel27Industry estimates say, in the next 3 years there will be about 40 international hotels operational in the country. These global chains plan on catering to all the classes—the upper scale, mid-scale, the economy and the budget.

Some of the chains that are set to come to India are MGM Mirage Hospitality a US-based firm, Amari from Thailand, Fairmont Raffles Hotels, Golden Tulip Hotels, Movenpick Hotels and Resorts, Corinthia Hotel group from Europe, Carlson, Starwood, Choice, Marriott, Accor, Hyatt, Intercontinental and Hilton.

Amari Hotels is set to launch Amari India and is searching for expansion opportunities in the Indian metro and tier-II cities to open seven hotels and resorts within the next 5-7 yrs. Likewise, MGM Mirage Hospitality aims to sign management contracts with realty sector developers as joint venture initiatives with local companies to set up hotel properties in the country.

Kaushik Vardharajan of HVS Hospitality Services said that, “India is more profitable for global hospitality firms than the international market. There is huge demand-supply gap which offers opportunities for international firms”. Data gathered by the firm shows that the international and domestic hotel chains had announced in August to build at least 9400 rooms in the country but the actual construction is underway for 3,840 rooms only.

Another hotel chain, Fairmont Raffles Hotels International is in advanced stage of discussions for properties in Delhi, Gurgaon, Bangalore, Hyderabad, Mumbai, Goa and Chennai.
Golden Tulip is looking to add 10 properties which totals to 800 keys across tier-II towns by the end of the next financial year.

Four Seasons, a luxury hotel brand is in various stages of discussions with developers for constructing properties in Bangalore, Delhi, Hyderabad, Pune and Goa. “There is enough room for several players to enter the market. India will become a major market for our company,” said Director Marketing Four Seasons, Sanjiv Shukla.

Accor, which has five hotels at present, will expand its network to 50 with 10,000 rooms in 15 cities by 2012.

ITC Welcomgroup plans to add 40 hotels to its 113 under four brands out Of which 25 are under the Fortune brand of business hotels. Senior Executive Vice-President at ITC, Pawan Verma said that “We are attached to the ground unlike them (international chains). We excel in Indian hospitality”.

The Taj Group is growing furiously both in the country and abroad. It is looking to roll more than 70 new hotels in 4 categories including its budget brand Ginger to add to the 105 hotels out of which 17 will be abroad.

However, falling rates of up to 18 per cent over last year has become a cause of concern for these hospitality chains. In 2008-09, the average room rate was Rupees 7,800 which has now reduced to Rupees 6,396 per night.

Still it will not be wrong to say that Indian hospitality is in a state of war where hotel rooms are being built like army barracks.

Mumbai expects highest residential space demand

Posted on September 26, 2009 by admin

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 square feet, 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 square feet.
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 square feet. Office demand in Pune is expected to be 21.7 million square feet.

Bangalore emerges as a clear preference for sectors like office and retail, while it comes 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 square feet.

Mumbai high street rentals see biggest crash

Posted on September 23, 2009 by admin

As the global slowdown pushed consumers to stay at home, retailers halted expansion plans and checked out of expensive high-street locations. Rental rates at high street locations across the world crashed, with the biggest crashes in Mumbai.
Among the exceptions were Bangalore’s two iconic retail hubs, Brigade Road and Commercial Street, and Kolkata’s Camac Street.
Mumbai’s leading highstreet locations—Colaba Causeway, Linking Road and Kemps Corner—also reported the largest declines in rentals across the world on a year-on-year basis—63.5%, 63%, and 60% respectively.
As per the annual global survey, Main Streets Across The World 2009, by global real estate consultants Cushman and Wakefield, over three-fourth’s of the world’s most prestigious shopping streets saw rentals crashing anywhere between 17% and 63.5%. Around 18%, however, recorded a growth.

Dax Properties setting up golf township

Posted on September 21, 2009 by admin

Dax Properties is setting up a 18-hole golf course-centric luxury retreat and township at Shadnagar near here which will entail investment of five hundred crore rupees.
The golf course will be spread over 130 acres on a 300-acre site earmarked for the Golf Retreat project, according to Mr Masood, MD of the Bangalore -based Dax Properties, part of Countryside Realtors.
Further he said, “We believe India has potential to serve golf lovers offering golf tourism in a majestic lush green environment where one could also buy luxury villas being developed on the property”.

Two million affordable houses required

Posted on August 13, 2009 by admin

Affordable housing is the only solution for the middle income indians. Most of the people are in search of affordable homes in metros particularly in delhi/ ncr, bangalore, chennai and pune. According to the report by Knight Frank Research Households with an annual income between Rs 3 lakh and Rs 10 lakh in Mumbai, NCR, Chennai, Bangalore, Hyderabad, Kolkata and Pune will need 1.65 billion square feet of space in coming couple of year. This trend may help developers to launch affordable house projects. But to make their projects more feasible, developers should think that their projects should not be in to far fringes area. It should be properly connected to the city and easy transportation should be available to the main places of the city specially the railway stations and airport.

Puravankara buys sixty-two acres in Bangalore

Posted on August 3, 2009 by admin

Provident Housing is a fully-owned subsidiary of the Bangalore-based Puravankara Group. Provident housing is learnt to have bought a 62-acre land parcel in the outskirts of Bangalore. The deal is believed to have been struck for a value of 150 crore rupees. The deal between Provident Housing and the seller, who is an individual, was signed earlier this month.

The land parcel is located on the Mysore road around half-an-hour away from the heart of Bangalore. This is said to be an outright purchase with Provident Housing, scheduled to make the payment in two tranches. In the first stage, the buyer has paid a nominal token amount at the time of signing the agreement and the balance would be paid when the project is completed.

Recently, many real estate developers have been exploring opportunities in the affordable housing sector. The Puravankara Group will have these projects in Chennai and Bangalore and is negotiating deals in Hyderabad and Coimbatore. It is learnt that deals in Hyderabad and Coimbatore will be finalized in a month.

Mumbai is most preferred property investment destination

Posted on July 22, 2009 by admin

The financial capital Mumbai now ranks as the most preferred destination for investing in properties, while Chennai has replaced Bangalore.

The survey, “Trend in residential space across top cities in the current scenario” ranked Mumbai as the most preferred destination to invest in property while in south, Chennai is in the first place for property investments, overtaking Bangalore.

Cities like Patna, Nasik, Tiruchirapalli and Madurai have also become choive destinations for property investments, the survey said.

It said 60 percent of respondents felt interest rates for home loan would come down further in the coming months, while 40 percent evinced interests on properties with an area between 500 to 1,000 square feet.

More than three thousand people from the metros and other cities, including Pune, Ahmedabad, Thane, Coimbatore, and Vadodara participated in the survey.

“Market sentiments are reviving and people are ready to invest. Based on our survey, more than 60 percent of customers are looking at buying residential properties in the next six months. They also have a hope that interest rates on home loans will soon come down”, Consim Info Founder and CEO Murugavel Janakiraman said.

Delhi is the most expensive city

Posted on July 9, 2009 by admin

The national capital has become the most expensive city in the country for expatriates. Comparing with other metro cities, New Delhi is ahead of Mumbai, Bangalore and Chennai.
However, all Indian cities have witnessed a decline in their rankings in terms of cost of living this year with New Delhi falling to the 65th position from 55th place in last year’s survey, in the global list of 143 cities.
Further, Bangalore has dropped to 133rd rank from the 118th rank in last year’s survey, while Chennai is the cheapest Indian city at 135th rank falling from 117th position last year.
Mercer’s survey covers 143 cities across six continents and measures the comparative cost of over 200 items in each location, including housing, transport, food, clothing, household goods and entertainment. It is a comprehensive cost of living survey and is used to help multinational companies and governments determine cost of living allowances for their expatriate employees.
Overall, a significant reshuffle of cities can be observed in this year’s ranking, mainly due to considerable currency fluctuations.

Realtors use technology to boost productivity

Posted on July 6, 2009 by admin

SALES slowdown, stagnating capital values and a need to manage resources better are pushing Indian realty firms to invest in technology that will help them achieve optimum productivity, information access and regulatory compliance.

End-to-end enterprise resource planning (ERP) solutions, that manage diverse projects across different locations, are slowly finding favour. ERP vendors are seeing increased enquiries pushing them to develop tailored solutions targeted at mid-market realty firms.

When Delhi realty firm RDS Projects’ standalone ERP deployment failed, it turned to a solution that provided efficient management of projects across locations and customers: Aurigo Brix. Similar was IDEB’s case, which used Aurigo’s product across realty projects in Southeast Asia and India.

Recently, global tech giant SAP said Maharashtra-based builder City Corporation has gone live on its ERP solutions to help accelerate business plans, such as building 50,000 houses across five townships in Pune including India’s first digital township, Amanora Park Town.

SAP has signed deals with Chennai-based True Value Homes and the Kolkata-headquartered Tantia Construction and also counts GMR Infra and HCC as its major clients.

From tech biggies to mid-market IT firms, everybody is gunning for a slice of this market. While Bangalore-based Sonata Software has launched SonnetCONSTRUCT, a specialised ERP solution for this vertical, Oracle India and HP have teamed up for a bundled offering — Oracle Accelerate Solution for HP ProLiant servers — that will help mid-size businesses across verticals sustain and grow operations.

While vertical-specific ERP figures are not available, the overall market is expected to top $250 million in 2009, growing at a CAGR of over 25.2% between 2004 and 2009.

The firm recently launched its fifth generation product, BRIX 2009, an industry add-on to Microsoft’s ERP solution suite, Dynamics AX and available through select partner channels in the US, Middle East and Africa.

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