Home Prices Sees Rise Despite Weak Home Sales

Home prices in Mumbai rose in the last quarter. Meanwhile the period was noted for lower home sales as well.

MUMBAI: Home sales are down. The real estate market is sluggish. Yet the home prices are not affected by them. It seems that the home prices are not aware of the weak home sales. Continue reading

Sahara Grabs another Piece of Bangalore Land for Rs.149 Cr

With the plan to construct a commercial and hotel project in Bangalore, Sahara has bought a plot here at a price of Rs.149 Cr.

BANGALORE: Even when the group is stepping on hot live-coals spread by the Securities and Exchange Board of India, and the order of Supreme Court, Sahara has no change, no fear. Continue reading

DDA fails to complete flats, flat owners protest

Showing dissent over the Delhi Development Authority (DDA) which failed to complete DDA flats, flat owners held a protest recently in Mukherjee Nagar.
DDA flats incomplete, complain the flat owners

DDA flats incomplete, complain the flat owners.

Some flat owners, who had moved to ‘incomplete’ DDA flats in Mukherjee Nagar, held a protest against the Delhi Development Authority. They alleged that flats, which were developed under the 2010 housing scheme of DDA, have not yet been completed.

They remain fed up with the Delhi Development Authority which allegedly had not heeded the pleas of the flat owners.

The flat owners have been running from pillar to post with their pleas. However their repeated pleas remained unanswered by the authority officials. Despite their repeated pleas, DDA remained undisturbed till they conducted a protest recently.

Flat owners alleged that the DDA Officials have not yet taken any action to complete the flats. The accusers added that the authority has failed miserably to console the grieving flat owners. Continue reading

Hot Investment Destinations in the Delhi NCR

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.

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

HC Asks DDA To Probe into the Illegality of Plot-Deals

Delhi Development Authority (DDA) is asked by the Delhi High Court to probe into illegal residential land dealings including the sale and purchase.
DDA To investigate into the illegality of land deals in the city.

DDA To investigate into the illegality of land deals in the city.

Today Delhi High Court ordered the vice chairman of  DDA (Delhi Development Authority), to probe into the illegal dealings of residential plots in the city.

Delhi Development Authority bench headed by Chief Justice D Murugesan; showing inclination to the PIL filed in this regard, ordered the Vice-Chairman of the DDA to look into the matter efficiently and effectively. The HC Bench consisting Justice V K Jain, said that the petition is passed to DDA which will look into the matter seriously.

The residential plots; which are allotted under the scheme of large-scale acquirement, development and selling of land, are illegally sold and purchased in the city. Continue reading

DDA Plans Reconstruction Of Dangerous Houses

Increasing incidents of building collapse prompt Delhi Development Authority (DDA) to reconstruct dangerous and unsafe buildings in the city. However DDA’s plans of reconstruction are dependent on building owners whose consent is necessary for the reconstruction.
DDA proposes a reconstruction of unsafe buildings

DDA proposes a reconstruction of unsafe buildings

Recently Disaster Management Authority conducted a survey on unsafe buildings in the National Capital. Using the survey a team of experts have focused five areas of the city where many buildings are identified as dangerous and unsafe. The team proposed to the DDA that the buildings in these areas have to be renovated or totally reconstructed.

The proposal has already been approved, though only in-principle, by an LG – headed DDA meeting. However the financial matters are to be worked out. Fatehpur Beri, Gandhi Nagar, Kondli, Lal Kuan and Lalita Park are the five areas which have been selected for the reconstruction of unsafe houses. These areas have witnessed a number of building collapses recently. Continue reading

Mumbai & Delhi; Top The List Of World’s Cheapest Cities

A recent survey reports that Mumbai and Delhi are included among World’s cheapest cities. Mumbai shared the top-spot with Karachi; while Delhi stood third.

According to a survey; recently conducted by Economist Intelligence Unit, top Indian cities Delhi and Mumbai have found place among world’s cheapest cities.

Mumbai tops the list of all least expensive cities of  the world.

Mumbai tops the list of all least expensive cities of the world.

Mumbai and Karachi; the financial capitals of India and Pakistan respectively, topped the list of the cheapest cities of the world. They were followed by the Indian Capital city New Delhi which was ranked third. Algiers, the Capital of Algeria and the Capital of Nepal Kathmandu were the other two world cities included in the top five cheapest cities of the world.

Recently Economist Intelligence Unit conducted a survey among world’s top 131 cities. The survey was based on the cost of living. The cost of living was decided on the prices of over 160 items. The list of the items included the transport-fares, utility service charges, and expenses on food and clothing.

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Delhi Real Estate Refocused: DLF Sells Aman Hotel Shares

India’s largest real estate company DLF has plans to develop some properties in Delhi real estate. With this aim the real estate major has sold its stakes in Aman Hotel.
Delhi Real Estate for what DLF Sellsits shares in Aman Hotel.

DLF Sells Aman Hotel Shares with the plan to refocus on properties in Delhi Real Estate. (pic. of DLF Bella Greens Bangalore): Delhi Real Estate can expect more like this.

By selling its stakes in the Aman Luxury hotel, Real estate major aims to cover up its debt. Furthermore it has plans to develop some projects in Delhi real estate. Within a period of next three to four months’ time Delhi real estate will be able to witness some new DLF projects. Continue reading

Surging Prices Pulls Down Residential Sales

Unaffordability created by the surging prices inversely affected the residential sales. Most of the top cities are affected by fall in demand and residential sales.

Residential Sales Faces Trouble

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

Government’s Surplus Land Selling Boosts Real Estate

The higher financial stress of the Government makes them think of selling or leasing of the surplus land. This will provide more land for construction in metropolitan cities like Delhi, Kolkata, Mumbai and other such notable cities of India.The decision will boost the real estate growth. Realty firms are sure to cast their hawk’s eye on this land and make the profit out of it. Continue reading