Tag Archives: Delhi Real Estate

All India CREDAI chiefs to brainstorm in Pune

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india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, india news, property news, real estate news, India PropertyWith the real estate industry reeling under an unprecedented crisis, top developers from across the country will meet in Pune for a two-day CREDAI conclave starting Wednesday to brainstorm and find solutions to revive the sector that contributes 6.5% to the GDP.

Presidents of CREDAI (Confederation of Real Estate Developers’ Associations of India) from 19 States and 112 cities will gather for the first time in the 13-year history of the apex body to focus attention on all the key issues impacting the industry from the point of both the developer community and home buyers.

“The national conclave assumes significance in view of the fact the industry has been at a virtual standstill in many States like Maharashtra, thanks to various delays in official sanctions, coupled with the rising cost of inputs,” said Lalit Kumar Jain, National President, CREDAI.

CREDAI claims it has been trying to sort out the issues with a missionary zeal, but unfortunately the response from powers that be – both at the Centre and States – has been abysmal, Jain lamented and said, “Now we will take stock and some out with ready-to-implement industry solutions.”

The session will also discuss the impact of the Union Budget, GST, Direct Tax Code, accounting guidelines, Maharashtra Government’s directive to reserve 20% of the development for affordable housing and so on.

“We will also scrutinize the available opportunities in affordable housing arena since we are equally keen to ensure that the government’s goal for housing for all is met,” he said.

Recalling that CREDAI has recently tied up with NSDC for a unique programme called Kushal for enhancing the skills of labour in the construction sector, Mr Jain said “we are keen on taking this forward on all India basis”.

Apart from dealing with the obstacles in the form environmental clearances, the CREDAI conclave will also formulate ways to encourage green building and energy saving concepts.

CREDAI will also work towards encouraging the entire gamut of realty – ranging from developers, architects to engineers – with a gala awards event on the lines of AIIFA or the various national film awards, he added.

Not just Gulf money driving Kochi realty market

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Vibrant cities for vibrant economy-X

By: Track2Media Intellisearch

Track2Media Rank-9

- india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, india news, property news, real estate news, India Property, Delhi NCR real estate, Mumbai Real Estate, Bangalore Real Estate, Pune Real Estate news,Track2Media, Track2Realty, ravi sinha A city with almost every household having one family member working in the Gulf, Kochi or Cochin’s resident population is waking up to new business avenues. This transition is also leading to a growing demand for commercial and residential property. What has transformed the once sleepy hamlet into a metropolitan zone is the fact that it is no more just the gulf money that is catalytic to the economy. Today Kochi is growing commercially with tourism and international trade. The IT industry is establishing a sound base here, and the demand for office spaces, hotels and retail outlets is increasing.

One of the most densely populated cities in the state of Kerala, Kochi has seen the real estate prices soaring with the influx of developers from other states chasing too little a land parcel and trying to get a bigger slice of the market pie. With the influx of foreign tourists, it is no wonder that the tiny city has developed an increasing need for real estate development.

Gone are the days of crowded apartments lining up the streets. The influx of developers from Bengaluru, Delhi and Mumbai has led to a fierce competition and the result is increasing thrust on the aesthetics, artistic excellence, high-end amenities and innovation forming an integral part of every residential project.

As per industry estimates, both demand and supply levels are balanced now and in areas where demand exceeds supply, prices are inching high. “Quite a few projects have been launched in the last one year, resulting in increase in demand,” says G Anil Kumar, General Manager, Operations, Southern Investments.

In the wake of the city being exposed to a few fly-by-night operators in the past, and instances like Apple-a-Day Properties’ unethical practices, the Kochi property market is extremely wary of the deals now.  There is no speculative buying seen today and the genuine end-users are active in the market, according to property consultants monitoring the market movements.

Prices have gone up by 20-30 per cent but are currently holding steady across micro markets, and it is unlikely to increase in the near future due to a combination of factors, say realtors. Consecutive hikes in home loan lending rates and dip in affordability have impacted the overall demand for housing with people postponing their decision making, believes industry watchers.

However, a section of property consultants maintain that since the market is divided between residents and NRIs, home loan rate hike may not have much impact as not all of them opt for home loans. The supply level for built units has considerably reduced, resulting in demand for new projects.

The high-end projects are finding ready acceptance in areas like Marine Drive as well as in neighbouring towns like Thrissur. For instance, Sobha Developers launched villas in the price range of Rs 2 crore and high-end apartments in the price range of Rs 70 lakh-1 crore, which is in demand. “There is a market for good quality developers and high-end homes,” feels P Ramakrishnan, Deputy Managing Director, Sobha Developers.

With the proliferation of educational institutions and medical facilities, there has been a constant flow of migration from other areas in search of greener pastures. The cumulative impact of all this is that Kochi is the most densely populated city in the state of Kerala.

On the commercial front, Infopark has ambitious plans to become one of the major IT Parks in the country. Established in 2004, it has already attracted investments from IT majors like TCS, Wipro, Affiliated Computer Services, OPI Global, IBS Software Services and US Technology. While upmarket residential demand has picked up, commercial property demand is yet to gain momentum.

The influx of several IT majors and MNCs in Kakkanad is instrumental for the surge in housing development in and around Kakkanad. While the real estate market is recovering, the developers are cribbing the new FSI norms bringing down FSI from 4 to 2.75 and the minimum road width has been enhanced from 5 m to 7 m which has pushed the land prices up for development.

Though retailing is yet to pick up as per mega city standards but retail rates are high on the main pockets of the city. However, there is lack of retail space in the city which is one reason cited for the surge in lease rentals for retailing.

A number of infrastructure projects under varying stages of implementation have given a virtual boost to the growth of all-round realty development. The roll-out of two mega infrastructure projects, the International Container Transshipment Terminal (ICTT) and the Smart City, have kicked off another round of upswing in the realty sector of central Kerala. The last such boom was seen around five years ago and had vanished three years later leaving the realty sector of the state in a state of gloom.

The ICTT and Smart City projects have given a new lease of life to the industry if brisk land deals in Kakkanad (where the Smart City is coming up) Edappilly, Kalamassery and Thripunithura are any indication. The average land value in the vicinity of Kochi city has suddenly jumped by Rs 50,000 a cent and in locations like Kakkanad the increase is around Rs 1 lakh a cent. The average per cent value in this area is Rs 6 lakh-plus now. According to real estate dealers, rich NRIs are now interested in buying a piece of land in the vicinity of the proposed Smart City as the current price is lucrative.

This upward trend in real estate in Kochi is an indicator of a healthy and reviving economy. In Jones Lang LaSalle’s World Winning Cities programme Kochi stands out as offering amongst the most favourable prospects of the India 30. The city offers shining possibilities across all sectors due to a favourable combination of wealth, connectivity, infrastructure, labour skills, low operating costs and tourist appeal.

Kochi’s USP

  • Booming tourism & international trade
  • ICTT and Smart City projects
  • Proliferating educational institutions
  • Medical facilities
  • NRI investment

FDI rises 31% in 2011, realty gets its share

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- india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, india news, property news, real estate news, India Property, Delhi NCR real estate, Mumbai Real Estate, Bangalore Real Estate, Pune Real Estate news,Track2Media, Track2Realty, ravi sinha Despite a gloomy global outlook, foreign direct investment (FDI) clocked a 31 per cent growth to $27.5 billion during January-December 2011 period. FDI inflows for January-December 2010 stood at $21 billion.

Services still attracted largest chunk of FDI inflows at 20 per cent. This was followed by telecom, housing and real estate, and construction and power among others, a Department of Industrial Policy and Promotion data said.

Mauritius, Singapore, the US, the UK, the Netherlands, Japan, Germany and the UAE are the major investors in India.

Mumbai attracted the maximum inflow accounting for as much as 40 per cent of the total share of the FDI, followed by Delhi-NCR region, Bangalore and Ahmedabad closely following.

FDI inflows totalled $19.42 billion in 2010-11 financial year, down from $25.83 billion in 2009-10.

Official sources said that the Government’s move to liberalise foreign direct investment polices has been instrumental in sending positive signals.

Some of the norms that have been tweaked in the past include 100 per cent investment in single brand retail besides easing norms in share pledging for external commercial borrowings.

Realty welcomes proposed housing tax exemption but….ye dil maange more-I

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By: Ravi Sinha

Track2Realty Exclusive

india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, india news, property news, real estate news, India Property, Delhi NCR real estate, Mumbai Real Estate, Bangalore Real Estate, Pune Real Estate news,Track2Media, Track2Realty, ravi sinha It seems the euphoria within the realty sector over the proposed income tax exemption limit on housing loans from Rs. 1.5 lakhs to 3 lakhs has faded even before the union Budget 2012-13 is formally presented. Though the sector has welcomed the proposed exemption, it seems it is nowhere near their expectations since the wish list are too long and the pending demands do not seem to be fulfilled even with this years’ budget.

The sector is divided over the impact of tax exemption and a number of developers that Track2Realty spoke to, rather question the rationale of such a move in metro cities like Mumbai and Delhi where the average cost of a flat is in the range of 70lakh-1crore rupees. Though the proposal of this exemption was put forward by the industry body NAREDCO itself in a memorandum, many of the developers believe the move is a populist one and will help only the housing market in tier-III cities.

Ashwani Prakash, Executive Director of Paramount Group, though disagrees with this assumption and asserts that in terms of housing transactions, it is the metro cities where volume housing demand and supply is taking place. He categorically says that the need is to cure the disease and not the symptoms, and hence if accorded an industry status most of the legitimate demand and needs of the sector will itself be addressed.

“Last year, for real-estate was full of happenings. It has seen lot of ups and downs, during the year 2011 .The growth in the sector has seen steep curves. With this scenario the sector has faced great challenges to provide the products combining affordability, comfort and quality. Indian real-estate had set an example during the recession of 2008 -09, as it recovered in the shortest possible time as compared to the global real-estate sector which is still struggling to come out of the bad patch. However, the sector would require support from the government, which is expected in the coming budget. Industry status to the real estate sector is long awaited. This should be provided in the current budget, which will definitely give a boost to this industry and the benefits/facilities available to the industries at large could be utilized,” he says.

Echoing similar concerns, Anuj Kumar Choudhary, Director, Panchsheel Buildtech says the sector has recovered very well from the recession, which is remarkable. During the year 2011 there were lots of happenings which have some impact on the growth of this sector. But the sector has responded well to the demand of the customers and we have been able to full fill the expectations of the customers.

“We have a long pending demand to give Industry status to the real estate sector. We hope that this should happen in this budget which will definitely give a boost to this sector and it will help both the customers and the builders. It will also bring more transparency in the system which will help everyone at large,” he says.

…..to be continued

 

Aricent Group sells land worth Rs.206 crore in Gurgaon

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Land sale, Aricent technologies, JLLM, Jones Lang LaSalle India, track2realty, track2media, ravi sinha, ncr real estate, ncr property, delhi property, delhi real estate, india real estate, india real estate news, real estate news india, india property news, property news india, india realty news, realty news indiaThe Aricent Group has just concluded the largest corporate land disposition in the history of the Gurgaon real estate market.  The land parcel is on the Old Gurgaon Highway, immediately adjacent to the prominent residential project Gurgaon One, and the ticket size of the deal is Rs.206 crores.

The transaction involved the sale of 17.63 acres of prime land to Ambience Developers, one of the largest local developers in the NCR region. It was conducted in accordance with GE Sigma 6 methodology, which ensured quality, operational excellence and optimal value creation.

Nitish Bhasin, Managing Director – Delhi NCR, Jones Lang LaSalle India, who brokered the deal confirms that this transaction represents the single-largest corporate land disposition in Gurgaon till date. “Three of the largest national-level real estate players were the next-highest bidders for this strategically located land parcel. It was a complex transaction that involved a lineup up top bidders and was successsfully concluded at the end of a fair and transparent two-bid process”

Consim Info to expand footprint in online property market

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Economic Survey, Real estate survey, Delhi NCR real estate, Bangalore Real Estate, JLLM, Jones Lang LaSalle Meghraj, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India PropertyConsim Info Pvt. Ltd with online brands such as BharatMatrimony.com, IndiaProperty.com, EliteMatrimony.com and PrivilegeMatrimony.com has announced plans to expand its footprint in the online property business. The company said it will increase market focus in the Western and Northern regions and expand Indiaproperty’s current market leader position across all four southern states to these markets, as a part of its growth strategy.

Consim Info has also repositioned Indiaproperty.com  and announced marketing spends of  20 crores for the current financial year to support its expansion plans and unveiled its new look portal with advanced first time ever features such as video interviews with builders and developers, virtual property tours and online fairs and its new advertisement, kick starting the new marketing campaign.

Speaking at a press briefing held in Mumbai, Murugavel Janakiraman, Founder & CEO, Consim Info Pvt Ltd, said, “Our property portal business has been witnessing significant growth in alignment with the surging demand for new property and we believe the time is right for us to leverage our experience in online businesses and establish our leadership in this area as well.  We recently crossed the 1.5 million mark in registered users with 250,000 unique daily visitors and more than a million page views a day, establishing us as the number one property portal in the country. Our increased business focus in this area and strengthening of the senior management of Indiaproperty, should help us scale new heights this year.”

Detailing the growth plans, Ganesh Vasudevan, Vice-president and Business Head, Indiaproperty.com said, “IndiaProperty has been growing at over 100% over the last year in terms of revenue and number of projects and this growth has been lead by the Western region. The company is exploring strategic partnerships with builders and agents in the state and is in advanced talks to sign exclusive marketing agreements. We expect the Western and Northern markets to contribute to nearly 50 % of our revenues this year and these are key geographies for us in our expansion plans. Our sales and service delivery teams are being strengthened in alignment to our growth plans.”

PE Analytics plans to launch Real Estate Index

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Economic Survey, Real estate survey, Delhi NCR real estate, Bangalore Real Estate, JLLM, Jones Lang LaSalle Meghraj, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India PropertyNew Delhi-based research firm PE Analytics has drawn up plans to launch Real Estate Price Index in partnership with a leading commodity exchange.

PE Analytics owns and operates PropEquity, an online subscription-based real estate data and analytics portal covering over 27,000 projects of 5,100 developers across 40 cities in India. The data and analytics enable clients to spot market trends and maximise risk-adjusted returns.

“We are launching the First Residential and Commercial Indices based on transaction prices in partnership with the leading commodity exchange shortly after a nod from the Government,” PE Analytics CEO Samir Jasuja told PTI in Mumbai.

These indices will be based on the actual transaction and registration values prevailing in various micro-markets for the residential and commercial asset classes.

PropEquity is collaborating with India’s banking and finance regulatory body and the country’s largest commodity exchange to develop housing starts and realty indices.

The indices will be the barometer for measurement of the real estate sector performance and will also enable trade on the exchange. The company is looking at September 2011 to go live with this product offering, Jasuja said.

PropEquity has created products that are unique in the Indian context, and which have been validated through the market and with marquee customers, he said.

With future plans already underway, Jasuja envisions PropEquity as a pan-Asia product and intends to raise a second round of funding for the company in 2011.

Hiked interest rates – Impact on the real estate sector

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Track2Media, Track2Realty, India Real Estate News, real estate news india, india property news, india property investment news, Jones Lang LaSalle India, India Realty news, realty news india, india property news, property news indiaIt has always been axiomatic that when financial institutions raise their lending rates, there are bound to be ripples on the highly cost-sensitive Indian real estate market. The latest rate hike obviously means that  the cost of construction has gone up for developers, and this move by the RBI certainly does not come at the best of times for them. Banks have already taken a cautious approach to real estate lending and reduced their exposure to the sector, and most developers are now prevailed upon to raise a larger component of their construction costs from the private sector. The fact that such funds come at a higher cost of borrowing has already increased their construction costs significantly.

It would be logical to assume that, hoping to maintain their profit margins under such circumstances, developers would not hesitate to mark the incremental burden to buyers. This would certainly happen if buyer sentiments and resultant market activity were high enough to accommodate such a move.

However, the market for residential real estate is far from effervescent at the moment. In a scenario where staying competitive and selling stock is of utmost essence, developers are unlikely to increase the cost of their units and thereby risk losing more customers. While this will certainly impact their revenues to an extent, most developers do see a sufficient profitability quotient to make a strategic decision on this count.

On the buyer side, the low-to-mid income segments are invariably the most affected by a hike in home loan interest rates. That said, the impact of increased cost of borrowing is not as severe as that of the decreased allowable percentage of borrowing. Where this used to be at a steady 85% of the overall cost of the property, most banks are not extending more than 75% now. The fact that the salaried class now have to supply a higher contribution to the cost of their homes that is having a very tangible impact on demand.

The author, Ashutosh Limaye, is Local Director – Strategic Consulting, Jones Lang LaSalle India

TCG-Vornado fund to invest Rs 270 crore in NCR, Mumbai projects

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Eldeco Meadows, Real Estate Investment, Delhi NCR real estate, Bangalore Real Estate, JLLM, Jones Lang LaSalle Meghraj, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India PropertyIndia Property Fund, managed by NRI investor Purnendu Chatterjee’s TCG Real Estate and US-based Vornado Realty Trust, is in the final stages of investing Rs.270 crore in two residential developments in national capital region and Mumbai.

The fund will invest Rs.150 crore and Rs.120 crore in housing projects in Mumbai and Noida, respectively, and pick up 40-45 per cent in each of the projects, according to the sources close to the development.

“The $ 400 million Fund works with land-owners, state governments and developers (particularly mid-size developers who lack both capital and management talent) to develop international-quality real estate products, which cater to the high demand sectors of the industry. The Fund takes both controlling and minority positions,” says TCG Real Estate’s website.

The Fund also looks at investing in related sectors such as construction, mortgage financing and infrastructure. The Fund invests between $ 5 million to $ 50 million in each investment, the post says. TCG Real Estate is the property development and investment arm of Purnendu Chatterjee’s The Chatterjee Group

Property developers are increasingly turning towards private equity funds for financing their projects as commercial banks have tightened their lending to real estate.

“With fresh lending remaining tight, PE players have started to get busy, as all developers have begun to offer good quality assets to raise project level PE fundings,” say analysts from Enam Securities in a recent report.

Goa property exhibition to showcase 200 projects

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Goa Real estate news, Goa property news, Delhi NCR real estate, Bangalore Real Estate, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Mumbai Real Estate, India PropertyFor those searching for their home sweet home in Goa, there’s a treat in store this Akshaya Tritaya. Twenty-one property developers and one finance company will come together under one roof to showcase about 200 projects under way across Goa.

An initiative of The Times of India, ‘Times Homes’ will be on exhibition on Friday and Saturday at Hotel Fidalgo. Projects ranging from single-bedroom apartments to penthouses and luxury villas, and ranging in price from 20-25 lakh to several crore will be on display.

Information on housing loan options and how to avail the same will also be available at the exhibition. “It’s a win-win situation for buyers,” says president, Confederation of Real Estate Developers in India (CREDAI), Goa, Nilesh Salkar.

“They can zero in on the best buy for what they are looking for as a dream home and they can even find out about home loans,” he added.

The two-day exhibition will highlight projects in urban areas such as Panaji, Vasco, Margao and Mapusa; fast-growing suburbs like Porvorim and Dona Paula; and idyllic locales of Canacona, Siolim, Pilerne, Old Goa and Calangute among others.

The property developers participating are Horizon Land Developments, Mathias Construction, Milroc, Palacio and Emgee Group, K Raheja Corp, Madkaikar Realtors, Sunteck Kanaka, Sukhthanker Associates, Vision Enterprises, Susheela Homes & Properties, Umiya Group, Highland Constructions, Gera Developments, Crossroads Realtors, Classic Squares, Bharat Developers and Realtors, B&F Realty, Ashray Real Estate Developers, Adwalpalkar’s Constructions, Anand Bose Constructions, and Acron Developers. State Bank of India will provide information on loans.

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