Marriott Executive Apartments Hyderabad

Marriott Executive Apartments Hyderabad is the company’s second-serviced apartment in the country, after the first in Mumbai. The MEA Brand is today’s jet-setting executive and is frequently on the move for extended periods. Staying in MEA differs from a typical hotel stay. 

Location of Marriott Executive Apartments in Hyderabad 

MEA is at the top of the SLN Terminus. Marriot has its entrance, which is on the left side of the shopping center. Marriot is in Cyberabad, with easy access to the Financial District and Gachibowli, and near the Mindspace and Ascendas IT Parks in Hi-Tec City. 

Rooms at Marriott Executive Apartments in Hyderabad 

MEA offers three different types of rooms, with the lowest being a studio and the highest being a 2-BHK apartment. The apartments either have a city or a garden view. The city view provides a bird’s eye view of Hyderabad’s cyber city. Even the concrete jungle appears colorful and serene from a higher elevation. The Hyderabad Botanical Garden spans over 200 acres of lush green landscape and is adjacent directly to Marriot. Now imagine waking up to the view. Isn’t that luxury?

The main advantage of staying in Executive Apartments is the size of the rooms. A 1-BHK apartment is 915 square feet in area. The 2 BHKs can be up to 1300 square feet, so it’s significantly more space than most deluxe suites. Each apartment has one or two bedrooms, a living room, a kitchen, a walk-in closet, and a utility room. The rooms in MEA are strictly non-smoking, and there is a hefty penalty for doing so. Those looking for a non-smoking room can upgrade to a room with a private, open-air balcony. Pets are not permitted. 

Amenities in MEA (Marriott Executive Apartments)

Unlike traditional hotels, Executive Apartments aim to allow guests to stay with their families for years rather than months. Every apartment has an incredible amount of functionality and convenience. Both the living room and the bedrooms have televisions. In addition to the king-size bed, you can request a rollaway bed or a crib. There is also a table for four, a sofa, and a chair with an ottoman in the living room. The bathroom has both a shower and a bathtub. 

The kitchenette has a two-stove induction and electric chimney, a 300-lb fridge, a microwave, a toaster, and other amenities. Guests can either request that the housekeeping staff do the dishes for them or use the dishwasher in the kitchen. The utility room has a modern washer and dryer. Other amenities include an iron, an ironing board, and a hair dryer. 

You can do your grocery shopping at SPAR or let MEA handle it. Marriott also offers cooking classes for long-term guests, demonstrating how to use local produce ingredients. The kitchen can also help with the cleaning and chopping the vegetables. The Marriott lobby has a small 24-hour grab-and-go market that sells snacks, staples, ice cream, and wine. In addition, it is open to non-residents, so if you need pasta or snacks late at night, you can get them there. Everything has an MRP. In addition, unlike in hotels, you can have food delivered to your room via delivery apps such as UberEATS and Swiggy. 

On-site recreation options include a gymnasium and a swimming pool, with more on the way. Residents can register with partner golf clubs such as Hyderabad Golf Club and Golconda Golf Club. Residents can walk or jog through The Botanical Garden’s lush greenery or work up a sweat at the Palapitta Cycling Park. Both venues are close to the hotel, and Marriott bears the costs on behalf of the guests. SLN Terminus also houses several restaurants and bars and has entertainment venues such as Escape Hunt and Platinum Movies (which will open soon). Residents can also get special discounts at other Marriott F&B locations throughout the city. MEA’s team also organizes themed community gatherings for residents. 

Dining 

Aside from your room, the terrace is where you will likely spend most of the days of your stay. And it is stunning. The Marriot Executive Apartment’s USP is its strategic location, and the terrace emphasizes this. During the day, it is breezy and serene. After dusk, however, it becomes magical. 

The terrace is home to Mazzo, MEA’s only in-house dining option. Throughout the week, Mazzo serves a breakfast and dinner buffet. On Sundays, there is a lavish brunch. Mazzo offers bento-box-style quick meals for lunch on weekdays. Every day has a unique theme. I went on a Friday and had the chance to try the Thai meal box. While the soup was forgettable, the Satay and Red Curry were excellent. 

The terrace’s far end is being converted into an open-air cocktail lounge. The cocktail menu is still in the works. We sampled a variety of them. The mimosa was delicious, as was a tequila-based concoction called Bulldog; however, the whisky sour was underwhelming. 

Explore Lucrative Plots for Sale in Hyderabad: Invest Wisely & Secure Your Future

Are you interested in investing in plots for sale in Hyderabad? Real estate is one of the main things that attracts inventors’ attention. People believe real estate is the safest investment because property prices rise frequently. So, who doesn’t want a return on investment?

Furthermore, real estate can be used to generate rental revenue, which is another reason why many people consider it an investment. People may consider investing in real estate for many reasons, which may explain why demand is increasing. The buyer and seller are the only ones who care whether the property is an office or a residence. The need for residential plots is skyrocketing.

Plots have undoubtedly become the go-to choice for investments in the post-pandemic real-estate marketplace. 

Popular plot features in Chennai 

If you’re looking for residential plots for sale in Hyderabad, many of the available lots include the usual amenities, such as:

  • Internal roads and footpaths: Most plots in Hyderabad include internal roads and paths to facilitate travel within the neighborhood. 
  • Gated community: To ensure safety and peace of mind, most residential plots are part of a gated community with security guards. 
  • Water Supply: To make life easier, all residential plots include a reliable water supply. 
  •  Sewage System: For safe living, most residential communities have sewage systems. 
  • Electricity: You can be confident that every plot will have a continuous power supply.
  • Gas supply: Cooking gas is also supplied to many residential areas in Hyderabad. 

To live comfortably in your new neighborhood, it’s crucial to consider all of this when choosing your plot. 

Factors to consider when purchasing a plot in Hyderabad

Here are a few things to consider before purchasing a residential plot in Chennai. 

Building Restrictions and Zoning Regulations

Be sure to familiarize yourself with all building restrictions and local zoning laws before doing anything because they will dictate what can be situated on the property. If you want to create something specific for commercial or residential use in the future, knowing what kinds of buildings can be erected in advance can save you a lot of trouble later on. 

Size 

When buying a plot in Hyderabad, you should also think about the plot’s size. The plot’s dimensions must be appropriate for the property’s intended use and financial constraints. A larger area might incur higher maintenance costs, while a smaller area may force you to give up space and comfort. Pick a size that fits your needs after carefully considering them. 

Location 

Before making a purchase, it’s critical to understand the neighborhood and determine whether it meets your needs. Do your homework and look into the area, amenities nearby, accessibility, and available public transportation. You can use this information to decide if this is the perfect place to live. 

Benefits of investing in plots in Hyderabad 

  • Lower Investment cost: Particularly in India, unoccupied plots are less expensive than standalone villas and apartments. Furthermore, property taxes for plots are lower than those for houses. Additionally, the cost of maintaining the land will not be prohibitive. 
  • Higher Return on Investment: If open plots are located in areas that are anticipated to experience growth in the future, their prices will typically rise more dramatically than residential assets. For instance, a plot’s value will undoubtedly increase if it is close to a highway or in an area where significant resources are being invested in building necessary infrastructure, bringing profits to the owner. 
  • Provisional choice and flexibility: People have much more leeway when pieces of land according to are more affordable. Plots can also be used for a variety of purposes. Some people build people homes on lots, while others prefer to create farms and henhouses. You can design your home as you make it on your build to suit your needs. Independent homes or apartments with distinctive designs are up for sale. Depending on your preference, you can also choose the neighborhood of your choice. 
  • Easily Manageable: It is also easy for owners of uninhabited lands to manage their properties much better, even from distant locations, than homeowners, as their properties do not attract maintenance overheads, unlike individual homes or apartments.  

In Hyderabad, there are 665 residential lands to buy on Propertywala.com, with prices ranging from Rs. 1.39 lakh to Rs. 30.6 crores (an average of Rs. 18,282 per square meter). Shadnagar, Kothur, and Ibrahimpatnam are locations where people go most often. 

Plots in Kothur, Hyderabad 

In Kothur, Hyderabad, there are 44 residential lands for sale on Propertywala.com, with prices ranging from 4.7 lakhs to 88.67 lakhs (or, on average, Rs 12,722 per square meter).  The plots provide features like a clear title, freehold land, a plot boundary wall, a society boundary wall, a corner plot adjacent to the main road, a green belt facing, water connection, electric connection, and connectivity to hospitals, schools, and shopping malls. 

Plots in Ibrahimpatnam, Hyderabad

In Ibrahimpatnam, Hyderabad, there are more than 40 residential lands for sale on Propertywala.com, with prices ranging from 5 lakhs to 80 lakhs (on average of 1089 sqft). The plots are near well-known towns, hospitals, or schools and adjacent to the main road.  

Conclusion

It’s a good idea to familiarize yourself with the various localities, amenities, and social infrastructure. If you’re looking for residential plots for sale in Hyderabad. To make the best choice when selecting an area, you can also look into the zoning laws and the city’s development plans and become familiar with the market rates and other pertinent information.

Finding the ideal plot in Chennai can be difficult, but with the right advice and investigation, you can make a wise choice. You can find the perfect location for your future home among the assortment of residential plots offered for sale in Chennai.

Things you should know about GST in Real Estate

Centre's FY22 GST compensation amount should be higher than projected Rs  1.58 lakh crore: Opp-ruled states - The Economic Times

OVERVIEW OF GST: 

In 2000, the late Atal Bihari Vajpayee, the then prime minister of India, initiate a committee to draft new indirect tax law and i.e. GST which stands for Goods and Services Tax. It was launched to replace multiple indirect taxes in India. Such as excise duty, value-added tax (VAT), services tax, purchase tax, octroi, entry tax, luxury tax, and so on. Here, propertywala brings every fact and figure that you should know about GST in real estate.

DEFINITION:

The Goods and Service Tax Act was driven in Parliament on 29th March 2017 but it came into effect on 1st July 2017. It is the only tax that applies all over India and imposes on the supply of certain goods and services. However, GST does not replace customs duty, which is still required on imported goods and services. Different categories of products and services attract different tax rates under GST.

Now, we will go ahead with the GST regime which is given by our Honorable Prime Minister Shri Narendra Modi, In his words, the Goods and Services Tax (GST) is “a path-breaking legislation for New India”. Then, GST is not just a tax reform but a milestone in realizing Sardar Vallabhbhai Patel’s dream of building ‘Ek Bharat – Shrestha Bharat’.


GST APPLICABILITY IN REAL ESTATE:

APPLICABLE
1. It is applicable to under-constructed flats only.
2. It is because the GST does not cover the real estate sector under its range. Therefore, the tax rate applicable on a property is charged under ‘work contracts.

 
NOT APPLICABLE
1. GST does not apply to ready-to-move-in flats, plots, and lands.
2. Upon completion and receiving the occupancy certificate i.e.(OC), the property is categorized as ready to move in. That is why a developer cannot charge GST on selling ready-to-move-in homes.

GST RATE ON REAL ESTATE 2022:

Everyone has a dream of a house. Well! It is fine if you are planning to buy a property. Because buying the right property is one of the biggest achievements in life. So, home buyers in India have to pay GST on the purchase of under-construction properties such as flats, apartments, and bungalows. Before hurrying on to the process, the foremost thing you must ask yourself is, “what is the GST rate on real estate?

PROPERTY  TYPEGST RATE FROM APRIL 2019
Affordable housing1% without ITC (Input Tax Credit)
Non-affordable housing5% without ITC
According to the table, if the property is affordable,  the GST rate from April  2019 is only 1% without ITC. Also, for non-affordable housing, the GST rate is 5% without ITC.

WHAT IS ITC?

Input Tax Credit refers to the tax already paid by a person on any purchase of goods and/or services that are used or may use for business. Therefore, it is available as a deduction from tax payable.

AFFORDABLE HOUSING AS PER GST:

According to government norms, housing units worth up to Rs 45 lakhs are referred to as affordable housing in metro cities in which carpet area measures up to 60 sq. meters. The Delhi-National Capital Region, Bengaluru, Chennai, Hyderabad, the Mumbai-Kolkata are categorized as metropolitan regions. A housing unit in non-metro cities barring to be an affordable house, if it costs up to Rs 45 lakhs and has a carpet area of up to 90 square meters as mentioned in the given table.

CITIESPRICECarpet AREA (SQ/M)
METROSup to  Rs. 45 lakhs60 sq./m
NON- METROSbelow Rs.4590 sq./m

SOME FACTS TO BE NOTED WHEN CONSIDERING GST IN REAL ESTATE:

  1. It does not subsume the stamp duty and registration charges, which you still have to pay.
  2. Seller increases the cost of ready-to-move-in properties to factor in the GST cost. So, overall the under-constructed properties are still cheaper than ready-to-move-in properties. 

That’s all you need to know about GST when it comes to real estate.

Why Attapur deserves your Investment

In the city of Hyderabad, Attapur is now developing as a new suburb which is an ideal location for the residential complexes now. The main reason behind this is the presence of several different colleges which makes it an ideal location for the students to live in. It is also really close to Jawahar Nagar, the educational hub of Hyderabad. Not only the students but the people who work in the IT Hub of Hitec City also prefer this place as it is in close proximity given the excellent transportation and the development of roads. The fact that Attapur provides people with a lot of housing options that too in affordably large sizes, make the residents travel 10km each day to and fro for their work.
Many people say that Attapur is the centre of their work and other public infrastructure needed by them. The location is in close proximity to their offices, their children’s schools, Airport, Koti and Secundrabad. The main purpose of each and every resident is solved because of this and people find no problem in travelling a few kms for every work present in equal distances.
When it comes to water and transport, the PVNR Expressway connected to the outer ring road makes it really easy for the people to commute.

Hyderabad Emerges As The Most Affordable Realty Market

Hyderabad witnesses a steady improvement in the sales of affordable housing units. With the increased demand for affordable housing units, the city has become one of the most affordable realty markets in India.

Hyderabad city offer homes of affordability

Hyderabad city offer homes of affordability

With large number of affordable housing projects launched, Hyderabad has become one of the most affordable real estate markets in India. Due to the IT and ITeS development in the city, Hyderabad is more demanded and has become a favorite home destination.

Global real estate consultancy firm Knight Frank reported that Hyderabad has become one of the most affordable real estate markets. The city achieved greater popularity as builders are up with their new affordable housing projects. Continue reading

Hyderabad Real Estate to Be Fostered By Metro Rail

Hyderabad Real estate seeks ways to meet higher demands for transit oriented residential units. Hyderabad real estate hopes that they will be fostered by the proposed Metro Rail.

Hyderabad real estate has shown higher pace of development. with the arrival of new Metro Rail plan the city is to gain more transmit system which will in turn cause more demand.

Hyderabad Metro Rail (HMR) Managing Director N.V.S. Reddy has remarked that the cities tend to get reoriented to mass transportation systems.  Property prices in these areas behave in different ways.

While participating the conference ‘Real Estate: Accelerating the Growth Story’, conducted in relation to the APREDA Property Show-2012, Mr. Reddy expressed his hope that the proposed Hyderabad Metro Rail will boost Hyderabad real estate growth.

Property Show-2012 by the Andhra Pradesh Real Estate Developers’ Association (APREDA) showed greater transit oriented development in Hyderabad city.

The proposed metro rail will fast up the Hyderabad real estate to boom in the eastern parts. While addressing the conference and Hyderabad real estate property expo, Hyderabad Metropolitan Development Authority (HMDA) Commissioner, Neerabh Kumar Prasad urged the Hyderabad real estate developers to construct affordable homes.

He added that larger segment of the people are looking for low budget homes which fall below Rs. 20 lakhs. He further stressed the need of reducing land cost in achieving such low cost homes.

Mr. Prasad mentioned of special incentives to the real estate while concentrating on high rise development which will be transit oriented development. He pointed that both HMDA and HMR are moving forward with TOD concept.

According to this TOD concept, an area in a circle along each metro station will be notified. When the metro rail gets the shape, the area along the outer ring road will become prime land for real estate development.

HMDA’s Mr. Prasad said that the Authority is ready to help in the infrastructure growth of the area. He added that this is only for reducing the prices of the residences by facilitating as much supply as possible. Higher supply will push down the demand and prices, he expressed his hope.

Highlighting the higher impact of existing political situations on Hyderabad real estate, Jones Lang LaSalle’s Anuj Puri stressed the need of creating Tier-II cities. Creation of such Tier –II cities will take the heavy burden away from the Hyderabad, he continued saying.

The Hindu reported that the property show draws huge number of people. Larger number of crowds who showed genuine interest in purchasing homes really filled the real estate developers’ mind with new hopes. However the property expo could drag the people to a greater level and what we want to see next is how far the metro rail will boost the Hyderabad real estate.

Real Estate Hyderabad to Get 75-Crore Township by PRIL

Patel Realty India Limited (PRIL), a subsidiary firm of Patel Engineering, is all set to invest 75-Crore in two real estate townships in Hyderabad.

Hyderabad Real Estate to Get Smondo From Patel Group

Hyderabad Real Estate to Get Luxury Oriented Smondo From Patel Group (Image Source )

Mumbai-based Patel Engineering Limited plans to invest 75-Crore in two real estate township projects in Hyderabad. The Mumbai-based construction firm is  specialized in hydropower generation and irrigation. Continue reading

Commercial Real Estate Office Space Demand Regains Pace

Commercial_Real-Estate

Commercial_Real-Estate

Demand for space in commercial real estate sector is reviving after the earlier setbacks in the primary quarters of the year 2012.  Seven prominent commercial hubs of India showed a greater pace of growth in the third quarter of 2012.  The third quarter which longs from July-to-September quarter, witnessed an A-Grade office space absorption by the major commercial real estate hubs on India. Continue reading

Growing Service Sector Enhances Commercial Real Estate

Commercial Sector Boom

Commercial Sector Booms with Service Sector Growth

Growing service sector of India drive the demand for commercial real estate. Real estate research firms reported that Service sector of India showed a greater pace of growth rate of 8.5%. This will result in the increased demand for more commercial real estate space.  In 2011 service sector occupied 70 % of office space and this is likely to be increased this year. Continue reading

South Indian Real Estate Sector footprint

What a South Mumbai is to Mumbai or a South Delhi is to Delhi could well be South Indian cities to India! The question is – will the southern region become the downtown of India?

Southern India has for long been the silent crusader, building and strengthening its real estate development as one of the most sought after destinations in the country. With improving transparency and visibility of the real estate markets in the South zone, cities such as Bangalore, Chennai and Hyderabad have attained a place on the global real estate map, a status that was limited just to Mumbai and Delhi in the past.

While South Indian cities constitute nearly 45% of the country’s office space, the stock of 140 million sq ft in these cities is projected to grow at a CAGR of 8% for the period 2012 – 2016, lower than the projected national growth of 11%. This implies that the southern cities, particularly Bangalore and Hyderabad, are relatively rationalised in terms of medium term supply of office space, and the cities have chosen a strategy of pursuing selective quality developments over rapid expansion. While this would keep their share in India’s office stock range bound at 37%-40%, the South Zone’s vacancy rate by end-2012 is expected to be 16%, considerably lower than the pan-India vacancy rate of over 20%.

While demand remains healthy for organised retail spaces, it is polarised towards either successful malls or high streets, which have better footfalls and conversion ratio. As the mall stock in the southern cities sum up to breach the 40 million sq ft mark by end-2016, the vacancy by then is expected to witness a notable decline from the peak levels of 2014 to drop below the national average of 20.5%.

South India’s residential market has been an ardent follower of the ‘affordability’ mantra, with more than 80% of the new launches in the past two years being priced under INR 4,000 per sq ft (USD1 812 per sqm). As a result, the residential markets of South Indian cities have remained resilient in the past few quarters, relative to the significant decline recorded in the sales volume of Mumbai and NCR-Delhi.

The focus of Indian real estate is shifting from Tier I to Tier II cities, and the southern region is also embracing the same, with secondary hubs developing in Kochi, Coimbatore, Vishakhapatnam and Mysore, that are persistently striving for higher milestones.

 

Hyderabad: 3rd most affordable office location in 2011

Hyderabad has emerged as the world’s third most affordable office location in 2011 in a list prepared by global realty consultant DTZ, which has also named Chennai and Pune among the top five such positions. According to DTZ’s latest study ‘Global Occupancy Costs – Offices’, Surabaya in Indonesia and Qingdao in China were placed in the top two positions of the chart as the most affordable office locations in the world last year.

“While Tier II cities in India and China dominate the list of top 10 most affordable markets globally, Surabaya in Indonesia remains number one,” DTZ said in the report. The consultant said Hong Kong, London, Geneva, Tokyo and Zurich were the five most expensive office markets in 2011.

DTZ said Surabaya and Qingdao saw average rentals of $ 1,680 and $ 2,380 per workstation a year, respectively in 2011.
Hyderabad, Chennai and Pune followed the top two places with rentals of $ 2,430, $ 2,570 and $ 2,590 a year per workstation respectively, it added.

The study showed that Hong Kong was costliest office place with an annual rental of $ 25,160 per workstation in 2011, followed by London and Geneva at $ 22,590 and $ 18,740, respectively. DTZ, however, said many cities across the world are likely to witness decline in their rentals during this year.

“Under the downside scenario, 2012 offers occupiers a window of opportunity in which to realise cost savings as rents decline… In the top five least affordable cities of Paris, Tokyo, Geneva, London and Hong Kong, office rents fall in 2012 under the euro break-up scenario,” it added. Occupiers in Rome and Milan are likely to benefit from falling occupancy costs over the next five years as sharp decreases in rents are expected in 2012 and 2013, DTZ said.

It further said office rentals in low-cost Indian cities may see double-digit falls in this year.

Piramal Realty Acquires Gulita For 452 Cr From HUL.

Piramal Realty has acquired Gulita – property in south Mumbai from Hindustan Unilever for R452Cr. Piramal Realty is planning to develop high-end luxury apartments on the one-acre land and Ajay Piramal might keep a part of it for his personal use, given the premium location, according to ET.

Gulita is a one-acre property in Worli Seaface, which used to house a training centre and private residences of senior executives of Unilever’s Indian arm.

Gulita was built in 1968 and the land was taken on a perpetual lease from the Brihanmumbai Municipal Corporation–the Mumbai civic authority. The property was put on the block after the company set up a new campus in the suburbs of Andheri and shifted its training facilities there.

Since HUL put the building on block, it has attracted several buyers which included Anil Ambani, Gautam Adani, Oberoi Realty and Sahara.

Last year, Piramal Realty acquired a plot of land in Mumbai from Mafatlal Industries Ltd for about R760Cr. Khushru Jijina – MD of piramal Realty said that the company plans to develop five residential projects in Mumbai at an estimated investment of about R1500Cr. The company will develop about 30 million sq. ft. through land acquisitions funded from its own sources.

Recently in real estate space, Housing Development and Infrastructure Ltd sold 2 acre plot in Mumbai to Adani Enterprises for R900Cr to repay its debt. Ascendas Property Fund Trustee Private Limited, the Trustee-Manager of Ascendas India Trust (a-iTrust) has acquired two operating Buildings in Hitec City 2 Special Economic Zone in Hyderabad, India, from Phoenix Infocity Pvt Ltd for R176.5Cr; while IL&FS Investment Managers bought Logix Group’s four office buildings in Noida for R600Cr.

 

 

Cities to be taller as Plan panel seek Higher Floor Space Index.

The skyline of Indian cities could soar as the government considers permitting vertical growth with the aim of checking runaway realty prices and generating resources to upgrade urban infrastructure for future growth. A Planning Commission steering committee, in its draft report, has recommended providing additional FSI (floor space index; the ratio between built-up area and plot size) as development rights, but said it should not come free of cost.

The panel said the charges for additional FSI and land-use conversions should be at least 50% of the circle rate in the area and should be determined professionally. It added that additional FSI should be permitted selectively.

The commission’s steering group on urbanization said the revenue from grant of additional FSI should be “suitably ring-fenced for funding infrastructure projects to sustain higher FSI”. “The proposals, if accepted, would substantially increase availability of housing stock and moderate realty prices,” said an urban development ministry official.

Calling the present density regulations in Indian cities “archaic”, the report noted that Indian cities had the lowest FSI in the world. “This (densification) should be part of a balanced strategy for expanding the effective supply of prime land and, in the process, raising funds to finance urban infrastructure improvements,” the committee noted.

The Centre should introduce incentives that encourage states and cities to pursue densification strategies for future urban development, it said. Many cities were already levying such charges for additional FSI in some form or the other, it noted. Hyderabad, for instance, has a ‘city level impact fee for high rise buildings’ and Ahmedabad has systematically been selling a limited amount of additional FSI.

The committee said higher FSI should go hand in hand with provisions such as amalgamation of plots to make housing more affordable. Rather than the current practice of having a blanket FSI across a city, the panel wanted mixed land use promoted through the concept of granular FSI. “Densification with mixed land use as a planning strategy needs to be followed by the authorities to accommodate future urbanization needs,” said a ministry official.

‘Integrated Township of the Year Award’ received by the DLF Garden City Lucknow.

Garden city is DLF’s first residential project, in the city of Nawabs – Lucknow. With almost 40 per cent of the area as open spaces and plot sizes starting from 250 sq. yards and above, the township conforms to very high standards of low density population norms. The facilities at Garden city match the international living standards and give the people of Lucknow their first real taste of an exquisite lifestyle. It boasts of meticulous town planning, eco-friendly infrastructure, wide open roads, its own smart sewage disposal plant, underground cabling and massive green belts running across the township.

Garden city has bagged the “Integrated Township of the Year – North India” award at the Realty plus Excellence Awards 2012, instituted by real estate monthly magazine Realty Plus. Cheered by a galaxy of realty stars, luminaries and other stakeholders present from all over the country at a glittering award ceremony held in national capital at The Metropolitan Hotel, Bangla Sahib road, Garden city, Lucknow was chosen for setting new benchmarks for excellence in the Indian Real Estate industry in 2012′, their immaculate town planning and their outstanding contributions and efforts towards bringing about massive and positive changes in the real estate skyline of this region.

This is the fourth award in the last two years conferred upon DLF India:

* Marketer of the Year For Hyde Park Estate at DLF New Chandigarh – Estate World Awards in Association with KPMG & Bloomberg-2011

* Developer of the year – North India – Estate World Awards in association with KPMG & Bloomberg-2011

* Integrated Township of the Year For DLF Valley, Panchkula – Realty Plus Excellence Awards-2010,

Receiving the award, Ananta Singh Raghuvanshi, director sales and marketing at DLF India Ltd said, “It is extremely encouraging to enter new markets and recreate the success and magic of the past. As a group we are extremely excited and committed to our developments in Lucknow, New Chandigarh, Hyderabad, Chennai, Bengaluru, etc. For each market, we are trying our best to think globally and act locally.”

Indian developers will present properties to NRI investors at Doha exhibition.

Indian developers are all geared up to offer NRI investors a wide choice of properties across India at an exhibition which is going to start on 16th March 2012.

It is the 20th India Property Exhibition in Doha on Friday which will showcase more than 100 projects spread across New Delhi, the National Capital Region, Jaipur, Mumbai, Pune, Goa, Hyderabad and several other cities.

The $12 billion realty market in India is on a high growth curve, because of the fast growing economy, increased participation of global players in the Indian market and new technological innovations.

According to organisers – Indus Fairs and Events (India) and Apex Business Solutions, Doha – the investment portfolio includes apartments, independent houses, bungalows, luxury villas, farmhouses, commercial properties, beach resorts and plots.

Singapore Based Company to Invest in India

The CEO and country head of CapitaMalls Asia, Singapore-based develops, owns and manages malls across Asia, will invest INR 1,800 cr in India. He also said, “apart from funding the two malls that are operational now, this money would be also used to develop 07 another  malls in India.” The company has put-on 02 joint ventures in India, with Bangalore-based Prestige Estate Projects Ltd for projects in the South and with Advanced India Projects Ltd  for projects in the North.

The ventures now own the Forum Value Mall in Bangalore which was opened in 2009 and The Celebration Mall in Udaipur, early this year. The other committed projects in India are under different stages of development in Bangalore, Mangalore, Hyderabad, Mysore, Kochi, Jalandhar and Nagpur. These malls are scheduled to be operational between end-2012 and mid-2013.

Brokers Hunt for Jobs as Slump Hits Realty Sales

NEW DELHI | BANGALORE: Broker in Bangalore bylane has just opened a stationery shop. He has named it ‘Smart Shop’, borrowing the name from the realty brokerage firm that he ran from the same premises until about two months ago. He switched to retail after his property business hit a rough patch following a slump in home sales. About 03-quarters of his revenues came from sale of apartments, the remaining from renting.

“With home sales dropping, it doesn’t make business sense anymore,” he says. It’s the same story in other big cities. In Mumbai, a mid-size broker has set up a small fast food joint to make ends meet. In Nagpur, a real estater has quit the real estate business and set up an ice-cream parlour. Their worries are not unfounded. While the large and established players in the property business have managed to stay, even during the slump, thousands of smaller players like brokers and agents are being forced to look for other jobs.

It also hit lakhs of people employed with such small outfits – each of which hires 5-15 people.With many brokers closing shops or reducing size, these people are out in the market, looking for jobs in sectors such as retail, banking, insurance and call centres. The real estate industry employs about 10 lakh people across the country, the majority in the unorganised sector.

In the first quarter of 2011, home sales dropped 17 per cent in Mumbai, 14 percent in Bangalore and 15 percent in Hyderabad. According to consultant Jones Lang La-Salle, unsold residential units in projects that are complete or are nearing completion in 6-12 months in Mumbai and Delhi-NCR are as high as 25 percent and 16 percent, respectively. In other big cities, including Bangalore, Chennai and Kolkata, the numbers range between 12 percent and 19 percent. Sales in tier-II and tier-III cities are steady, though there is some panic due to the increase in interest rates, which have climbed to about 11 percent from 8.25 percent a year ago.

“For smaller brokers, the impact of the current market factors is a lot more compared to the larger brokers,” says the president of the National Association of Realtors India . “Even for our members – who are fairly well-off – business is down 40 percent compared to 2009-10. But the smaller guys are in trouble and are setting up businesses that move on a daily basis. Many I know have asked their employees to look out” Ravindra Bramhe, chairman of the Maharashtra Property Brokers’ Association, says.

For whatever business is left in the market, there are hundreds of agents in queue. For instance, there are pockets on the Noida Expressway, near large projects, where real estate brokers can be seen sitting inside small tents, under the sweltering sun, waiting for business. Those who can’t afford to set up these tents can be seen on the roadside, running after every car that passes by, with brochures and flyers of projects in hand. Industry refers to them as the broker mandi. “All my friends and colleagues are now looking outside real estate before things get worse,” says Chaudhary. Many have returned to the insurance industry and others have found jobs with small call centres. A few have found employment with retail stores.

GMR Declared Net Loss of Rs1,006.7 crore for 4th Quarter

GMR Infrastructure on Tuesday declared a consolidated net loss of Rs 1,006.7 crore for the fourth quarter ended March 31, on account of a one-time loss from its dissociate of power company InterGen NV and losses from its Delhi airport.

Losses from the Delhi airport stood at INR 214 crore for the quarter on higher capacity costs, including interest charges and depreciation, with Terminal-3 becoming operational during the financial year. GMR’s net revenue during the quarter increased 74% to INR1,962 crore over INR1,125 crore in the corresponding period last year. The growth was assisted by revenue from its Male airport, the increase in traffic at Hyderabad and Delhi airports and better operations in its Chennai and Kakinada power plants, the company said.

The losses from the InterGen dissociate and Delhi airport operations also diminished the full year performance of the company which posted a loss of INR 929 crore for 2010-2011 as against net profit of INR158 crore in the past year. Full year revenue, however, increased 26% to INR 5,773.8 crore with airports contributing 41%, energy business 38% and highways 7%. The chairman of the GMR group said,“Though the dissociate of InterGen has resulted in a one-time and non-recurring loss, it has released equity capital of INR 958 crore and would enable us to reinforce our focus and resources on more profitable Indian assets.” The company also expects to recover part of the loss through Island Power, which is Singapore-based electric utility.

India’s Biggest Real Estate Firm to Get Crores

The Biggest real estate firm intends to trade in a few IT parks and its hotel business, hoping to wrap up 7,000 crore in the next two years and reduce its growing gross debts.

Its tax dues are on the peek, in the financial year 2011. It has received an additional tax demand of 546.85 crore from the IT-department in the last quarter of 2010-11. Net profit in the consequent quarter of last year was 426.38 crore.

Over the last 1½ years, the real estate major had already sold some non-core assets such as hotel sites in Delhi and Hyderabad as well as non-contiguous land parcels to receive around 3,000 crore. The company said it could sell non-core assets such as IT Parks that generate low return but not the buildings and other developed buildings. The company aspire to become debt-free by the mid term.

DLF’s initial plan was to obtain 4,500 crore from sale of non-core assets, but now plans to procure 10,000 crore in the next 2-3 years. With 3,000 crore already in its stake from sales of non-core assets in the last 18 months, it is now identifying properties to procure the balance 7,000 crore.

Lodha Group to pay Tax Rupees 60 crore

Income Tax department officials seized crores in unaccounted cash from lockers of the employees of real estate genius Lodha Group, five months after it has asked the company to pay Rs 60 crore in taxes. In January, the I-T department had raided about 20 premises of Lodha Group on alleged misquoted of income. The surprise visit by IT official was based on a tip off suggesting overestimated expenditure using faux receipts and cash payments from clients. The invade had shielded Mangal Prabhat Lodha the Chairman and his two sons the directors of the company.

While investigating the documents found at the premises, I-T officials came across details of bank lockers in the name of the company’s employees. When these lockers, in all 26, were invaded, unaccounted cash running into crores of rupees were found. In the first raid itself, the department had found unaccounted Rs 6.5 crores in an employee’s Kalbadevi locker. Addition to that Rs 1.5 crore were found in the offices and residential premises of the company’s owners. The I-T officials had also held over 10 note counting machines from the group’s offices. IT officials said the entire exercise was undertaken by the company to escape tax. Now, the I-T department has freezed the company’s annual income at Rs 200 crore and asked the Lodha Group to pay Rs 60 crore.

 

Keerthi Estates Brings Up Luxury Villas in Hyderabad

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.

Sayaji Hotels Ltd to Invest Rs100 Crores in Pune; Plans to Expand Operations

On completion of two years in Pune, Sayaji Hotels Ltd is planning to invest Rupees100 crore in Pune. . “This expansion will be completed by September 2012
with a total investment of Rs 100 crore” said, Sajid Dhanani, MD, Sayaji Hotels Ltd. The group is planning to expand its operations with a sports and cultural club, restaurant, mall, meeting and conference facilities and service apartments.
“The demand for hotels and restaurants is increasing at a good rate in Pune. Dhanani’s estimate is 22 per cent as far as hotel business is concerned. Though supply of rooms in the last two-three years has increased considerably, the restaurant business is on the rise far more speedily.
Moreover, Sayaji Hotels further plans to influence the brand image it has created in Pune by exploring in other locations like Bangalore, Chennai and Gurgaon wherein majority of its customers come from automobile, Information Technology and Engineering industries. It also has plans to expand Barbeque Nation brand from current 18 divisions in the country to around 33 divisions by the end of the year. The new Barbeque Nation restaurants will be opened in majorly in metropolitan seven cities such as Mumbai, Delhi NCR, Chennai, Bangalore, Hyderabad, Kolkata and Pune. The group’s turnover was roughly around Rupees 190 crore for the financial year 2010-11.

TATA Housing Development enters into Redevelopment of Old Buildings, Mumbai

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

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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.

Andhra’s Realty Sector Grows

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The state of Southern India has shown a demand in Real Estate properties over the last few months which is a good news for the people of the trade.

The Realty Sector in Hyderabad, Andhra Pradesh has shown sudden upsurge after the recent political turmoil it went through. The demand for both, commercial and residential properties have registered an increase.

The trend is more evident in Tier I and tier II areas specifically; making them high demand markets.

Prabhakar, a Real Estate Sales Officer had this to say on the topic, “Market is improving as of now because of these developments happening in the Hyderabad areas like outer ring road area, Infosys campus and many other areas, so this is the right time to invest and to buy a customer.”

Even the prices of the realty sector have improved as the customers feel Hyderabad is the right place for investment thus increasing the sales.

Raj Kumar, Marketing Manager in a Real Estate firm puts forth, “NRIs, Doctors and Information Technology (IT) people are coming forward for the investment and even some of the central government employees are also coming forward. As you know, now a days comparing with the facilities what we are giving on what rates we are giving, people are seeing benefits and on these bases they are coming forward for investments and showing interest.”

The sector is one of the biggest in terms of number of employees working in the country. It is anticipated that in the next decade the realty sector will grow at a rate of 30% every year. This is bound to attract foreign investors with as many as 30 billion US dollars along with a number of IT parks as well as residential townships being constructed across our country.