Yoo by Strack is now ready to enter in Indian real estate market. The company is coming here with a huge residential project worth one thousand five hundred crore in Pune. The local partner of the company will be panchshill realty. The project will cover over 21 acres of lands and in the first phase Project will have six 30 stories towers.Company is also thinking to keep eye in major Indian metro cities like Delhi, Goa, Bangalore etc with an approx investment of one thousand eight hundred crores in next four to five years.The chairman of the company announced it in press conference on Thursday in pune. The brand name “Yoo by Strack” is already working in twenty one countries all over the world. The company is currently involved in 41 projects around the world with an investment of Rs 40,000 crore.

Since India and China are leading real estate market in the world, there are bright chances for investment, thinksJohn Hitchcox chairman of Yoo by Strack. Also in India the concept of Branded home is fairly popular, for the same reason therefore,the company is interested in investing in the Realty Sector.

 

In the biggest deal of its type, Mumbai-listed real estate company Indiabulls will make an all-share offer for Aim-listed Dev Property Development.

It will be the first time that a deal of this size – Pounds 138 million – will be financed in the UK entirely by Indian shares.

Indiabulls is a property and financial services conglomerate with a Pounds 4 billion market capitalisation. It is the parent group of the largest real estate company in India, Ibrel, which is handling some of the biggest commercial projects in Mumbai.

The deal, which still has to be approved, will value Isle of Man- based Dev Property at a 32 per cent premium to its closing price of 75 .5 p.The economic boom in India, where GDP is growing at nearly nine per cent a year, has fuelled investment from international companies setting up offices in Mumbai, which has ignited the commercial property market.Last year, Dev Property was the fourth Indian developer to launch an Aim listing of a fund that allowed investors to take part in the Indian real estate market through a UK investment vehicle.

02 March, Chandigarh: The Haryana Urban Development Authority will float new sectors at Jhajjar, Jind, Hisar, Sirsa, Kaithal, Rohtak, Rewari, Sonepat, Fetehabad, Guhla-Cheeka, Karnal and Pataudi with a view to extending residential facilities to the people of the state.

The allotment of land for the ex-servicemen Contributory Health Scheme at highly concession rates for the benefits of ex- servicemen had been made by HUDA for the first time at Faridabad, Rewari, Jind, Narnaul, Kurukshetra, Kaithal, Karnal, Sonepat, Rohak, Panipat and Jhajjar, an official spokesman said on Sunday.

The spokesman said that during the current financial year 2007-08 residential Sector 4 (Part) Rohtak and Sector 6, Jhajjar had been floated by HUDA exclusively for defence personnel and para military forces (1998) plots.

It has also been decided to float a sector exclusively for ex-servicemen and defence personnel at Bahadurgarh Sector 10, Jind Sector 6, Hisar sector 3, Rewari Sector 18 and Narnaul.

He said that in order to provide adequate infrastructure, 10 sites for hospitals and 23 sites for petrol pumps had been floated during period of present government besides 169 institutional sites. Further he added that14141 freehold residential plots of all sizes, 2069 plots of EWS and 321 plots 0.5 acre category for Group Housing have been floated.

02 March, VADODARA: The unprecedented hike in the `Jantri’, the annual statement of land rates, proposed by the BJP government has come into sharp criticism from all quarters of the society. People are saying that it will make difficult for the common man to buy houses in the state.

The proposed increase in the Jantri rates by over 200 to 300%, will affect the buyer to make an additional payment of Rs 40,000 to Rs 50,000 for purchasing property for residential purposes in the state.

President of the Baroda Bar Association Narendra Tiwari has criticised it saying that the entire procedure of proposing unprecedented hike in the Jantri rate is illegal. Mr. Tiwari Said, “It will be difficult for people to buy houses in the city, as the hike is unprecedented, even more than the prevalent market value of the land in city”.

The levying of Jantri rate in various cities and towns of Gujarat became effective from April 1, 1999 and nearly 55% hike was made in the year 2007.

Dilip Mehta a leading hotelier and former president of the Baroda Land Developers’ Association said the new Jantri rates will affect construction activities and it will be opposed tooth and nail.

The Indian real estate sector has  largely welcomed the overall effect of  the budget, although saying that it could have done more for the industry.Pradeep Jain, chairman of Parsvnath Developers Ltd. told that the budget will enhance the socio-economic infrastructure of the country by giving needed emphasis to education, health and hospitality sector. The budget has, however, not fully addressed the demands of real estate industry.The concessions given to infrastructure and housing sector in rural areas are nice. Nevertheless, a drop in duties and service tax benefits directly to consumers would have propelled the demand for realty across the country. The cutback in input cost of cement, steel etc. will certainly benefit the sector.S. Chandra, managing director of Unitech Ltd , said told that the budget will have optimistic impact on the real estate industry. The construction costs are estimated to come down because of duty and central value-added tax reduction.Housing sector will get an improve due to the increase in income tax exemption limit to Rs.1.5 lakh (Rs.110,000) and new tax slabs as it will increase the affordability of Equated. Monthly Instalments pertaining to new and existing housing loans.