Dubai based Meydan Group plans to develop a project in Dubai’s Mohammad Bin Rashid City. The project will be launched in conglomeration with Indian developer Lodha Group. Continue reading
Wadia Group plans to present its Island City Center project in the Indian Property Show. The Property show will be held in Dubai from December 13 to 15. Wadia Group expects to gain some business dealings with NRIs – (non- resident Indians) who reside in Dubai.
Wadia Group’s real estate wing Bombay Realty will launch its latest residential project titled Island City Center (ICC) in Mumbai. The real estate township project will be located in Dadar. Continue reading
India’s Sobha Developers plans to start a new project in the most flourishing land of Dubai. This project is estimated at an amount of $3 Billion. Sobha Developers will invest in Dubai Meydan Project which worth $3 billion. Sobha Developers is one of the multinational real estate firms of India. Sobha Developers have announced that it would start work on the Meydan City Project by early 2013 and so it will become one of the 2013 new projects. Continue reading
While Dubai remains a hot and one of the favourite destinations of Bollywood. It has definitely fascinated other strata of India as well.
As per the Dubai real estate data, No other national has purchased property to the tune Indians have in 2011.
Indians have topped the list of first-time property buyers in Dubai in 2011, having bought properties worth 2.1 billion dirhams (Rs 292 crore), Dubai Land Department data has revealed.
The Indians topped the list of new investors in Dubai properties and conducted 927 transactions worth 2.1 billion dirhams. This represents 16 per cent of the overall value of transactions carried out by new investors,” the department said.
While it did not mention the nationality of the second largest investors, the department said the UAE nationals came third, having invested 1.575 billion dirhams (Rs 219 crore).
According to the department the new money flowing into the Dubai property market last year totalled 13.13 billion dirhams (Rs 1,825 crore).
Meanwhile, Asian investors formed 68 per cent of the overall number of investors in the sector, with the UAE nationals topping the list with 35 per cent representation of the overall number of Asian landlords, followed by Indians at 20 per cent.
In a recent report, property broking and real estate consulting firm Jones Lang LaSalle said the Indian property market is poised to attract about US$3 billion, almost double last year’s US$1.6 billion, from overseas buyers this year.
The Indian property market will see more investment from overseas this year as it still remains an attractive investment destination globally.
Of this, one-third would be from home buyers and the balance from investors. This is despite the fact that property prices in India are at an all-time high.
According to a recent National Housing Bank (NHB) survey, property prices in big Indian cities have increased by as much as 43 per cent to 166 per cent in the last four years.
NHB, wholly owned by the Reserve Bank of India, lends to home-mortgage companies. It also regulates and refinances social housing programmes. In its report, the bank said Chennai had seen the highest rise in prices at 166 per cent. Bhopal was second with a hike of 117 per cent and Mumbai was ranked third with an increase of 87 per cent.
What then brings overseas investment to Indian property, when prices are skyrocketing? The answer is simple: Despite the global turmoil because of the financial crisis, the Indian economy has remained robust, largely due to domestic-driven demand.
According to Jones Lang LaSalle, India’s strong economic growth, rapid urbanisation, growing middle-class population, demographic advantage and increased thrust on infrastructure has worked in its favour. Buying property is especially popular among Indians living abroad, who all seem to want a piece of the homeland. That is why Indian property shows are burgeoning around the globe.
Dubai-based Sumansa Exhibitions has been holding Indian property shows across five countries. And every year the number of developers taking part in the shows and the attendees has grown rapidly.
Sumansa Exhibitions’ chief executive officer Sunil Jaiswal says: “We have held shows in the UK, South Africa, Hong Kong, Dubai and Singapore. They have been very well received by both exhibitors and visitors alike.”
This year Sumansa will hold the Indian Property Show in Singapore on April 14 and 15. It will be held at the Suntec Exhibition Centre’s hall 401 and nearly 40 developers from across India will be part of the show.
More than 200 properties will be showcased during the two-day exhibition. Sumansa expects the number of footfalls at the event to be much larger than the 4,000 that turned up at its last year’s event.
The UAE federal government has approved and declared the extension of visas for real estate investors from 06 months to 03yrs. This decision was taken at Cabinet meeting chaired by vice-president and prime minister of the UAE and the ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum. To boost the struggling real estate market and also investor’s confidence.
“The government took a range of measures as part of its efforts to shore up economic growth within its strategic plan 2011-2013, including extension of visa for real estate investors to 3years instead of 06 months. Presently, foreign owners of property worth more than AED 1million are eligible to get a 06months visa, which should be reviewed every six months.
M3M India Ltd. chains up with Larsen & Toubro, one of the leading construction firms to build their finest luxury residence in Gurgaon which is 7 star to be named as “M3M Golf Estate”.. This project will be constructed by L&T in collaboration with LERA International, the world’s leading consulting firms. The estimated worth of this deal of phase – 1 is about Rupees 400 cr, out of a total investment of over Rupees 2,000 cr. Lera International will be providing it’s most modern and pioneering structural engineering designs. In a press release it is declared that the project will be completed in 33 months much prior to the scheduled time of completion of 42 months.
The project is tactically located on the Golf Course Road (Extn.) in Sec 65, Gurgaon, which is 30 mts drive from Indira Gandhi International Airport spread over an expansive 75 acrs. Graham Cooke, the world famous architect has designed the magnificent apartments around a 9 hole reversible ‘In City’ golf course. The architecture is a perfect fusion of eco friendly, green sceneries and cutting edge designs. The project is designed by world’s finest architects ARCOP headed by Ramesh Khosla. The project has already received awards internationally in USA, UK and Dubai, as “Best Upcoming Golfing Lifestyle Residence in India” .
“In line with our commitment to give the best of quality and timely delivery, we are happy to appoint L&T which is one of the world’s best construction groups. “M3M Golf Estate” is our much honoured project, internationally acclaimed, and we have designed this, keeping in mind the taste, class and the requirements of our target clients. We ensure the use of latest technology and safety of structures” said Basant Bansal, Chairman and Managing Director, M3M Group.
M3M Golf Estate offers high – tech ultra modern luxury apartments with all modern amenities like wi-fi in all buildings, roof- top jogging path, and superior class club houses. These apartments will trait world class amenities, unique outdoor and indoor living spaces, modern kitchen, sated with fittings and high quality end fixtures. It also offers aesthetically designed golf course.
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.
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.