Tag Archives: hyderabad real estate news

Andhra Pradesh promises single-window clearance

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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, hyderabad real estate news, hyderabad news, andhra pradesh news, Track2Media, Track2Realty, Track2InfraTrack2Realty: Andhra Pradesh may become the first state to grant much-demanded single window clearance to realty projects. Andhra Pradesh Chief Minister N. Kiran Kumar Reddy has said his government will further simplify procedures and extend incentives to the real state sector if they ensure self-regulation and pass on benefits to consumers.

“We will empower you and simplify procedures so that there is no delay in securing clearances. Even the single-window clearance may not be necessary if the developers ensure that they stick to regulatory norms,” he said.

Speaking at the Confederation of Real Estate Developers’ Associations of India (CREDAI) property show in Hyderabad on Friday, Nov 3, the Chief Minister said even before an application for clearance has received the nod from the government, builders could go ahead with their architectural and other works. And, possibly, even construct, provided they adhere to norms.

However, for those taking any advantage of such flexibility, severe penal action would be initiated, he said.

The government is also further simplifying norms and offering sops to buildings that set up solar installations, water harvesting units and sewerage treatment facilities for recycling. They may be extended the benefit of lower taxation, he said.

There is a focus on ensuring clear titles by clearing dual and multiple registrations through land documents. Through the Mee Seva it will be possible to ensure total transparency of title deeds, he said.

Earlier, the President of CREDAI, AP Chapter, C. Sekhar Reddy, said CREDAI is seeking to bring about transparency in the system, making its members accountable. The idea is to ensure customers do not have grievances. Their issues will be resolved amicably.

More than 150 developers from across the State and from other parts of the country have converged here for the four-day property show.

Hyderabad realtor held for cheating

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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, hyderabad real estate news, hyderabad news, andhra pradesh newsThe Central Crime Station (CCS) police of Hyderabad on Thursday, May 10, arrested the Managing Director of a real estate company for duping his customers of Rs 3 crore by promising housing plots to them. Many incriminating documents also seized from him.

Police said, the accused, Kovvuru Srinivasula Reddy, had established a real estate company, Sree Virat Marketing Ltd, at Erramanzil Colony. The accused started a herbal product business in the city in 2005. As the business went into loss, he ventured into real estate and set up Sree Virat Marketing firm. His company websites– www.virat.biz and www.sreevirat.com– offered three schemes.

As per the schemes, if a customer enrolled himself by paying Rs 1 lakh, the company would register a Simple Mortgaged Deed for 200 square yard land at Yadagirigutta of Nalgonda district with surety and the customers would pay Rs 16,800 per month for 12 months, Rs 11,111 for 18 months, and Rs 12,750 for 24 months. The accused collected a huge amount this way, but never provided an inch of plot to anyone.

Hyatt Introduces Hyatt House in India with agreement for hotel in Mumbai

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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, Bangalore real estate news, bangalore hospitality news, Hyderabad real estate news, hyderabad hospitality news, chennai real estate news, kerala real estate news, kerala hospitality news, chennai hospitality newsHyatt Hotels Corporation has introduced its new Hyatt House extended-stay brand in India, with the signing of a management agreement by a Hyatt affiliate for a hotel in Mumbai. The company also announced that Hyatt affiliates signed management agreements for an additional seven full-service hotels and 14 select-service hotels in India, bringing the total number of announced Hyatt-branded hotels under development in India to 53.

Hyatt House Mumbai will be located near Mumbai’s most vital commercial and industrial districts and within close proximately of Chhatrapati Shivaji International Airport. The hotel will feature 170 guestrooms, a multi-cuisine restaurant and bar, and meeting rooms, as well as a business center, fitness center and swimming pool. The Hyatt House concept, unveiled in September 2011, is rooted in extensive consumer research and offers casual hospitality in a smartly designed, high-tech and contemporary environment.

“The introduction of Hyatt House in India, combined with our decision to make India the first location outside of the U.S. for our Hyatt Place brand, reflects our commitment to offering our extended-stay and select-service brands in one of the world’s fastest-growing markets,” said Steve Haggerty, global head of real estate and development, Hyatt Hotels Corporation, who is participating as a panelist at the Hotel Investment Forum India (HIFI) conference taking place January 11-13, 2012.

“We are leveraging our more than 30-year experience in India to become the most preferred hospitality brand for a growing number of affluent, domestic travelers within the country. Guests will soon be able to enjoy our full portfolio of brands in many of India’s most popular business and leisure markets,” he said.

India Critical to Global Expansion
The introduction of Hyatt House signals the company’s continued growth in India. In addition to Hyatt House Mumbai, signed agreements cover five additional Hyatt brands: two Andaz hotels in Jaipur and Delhi; one Hyatt hotel in Raipur; 14 Hyatt Place hotels in Chakan, Delhi, Gurgaon (2), Goa, Hampi, Hyderabad, Jamshedpur, Kochi, Mohali, Munnar, Nashik, Sriperumbudur, and Thiruvananthapuram; three Hyatt Regency hotels in Raipur, Hyderabad and Neemrana; and two Park Hyatt hotels in Delhi and Jaipur.

Hyatt plans to open six new hotels in India in 2012 across its Park Hyatt, Hyatt and Hyatt Place brands. The six properties planned to open in India this year include:

Park Hyatt Hyderabad, a 209-room property with 42 serviced apartments that is scheduled to open in the first quarter, will be located on Banjara Hills nearby the scenic Hussain Sagar Lake and in close proximity to Hyderabad International Airport. The hotel will offer three food and beverage outlets, banquet and conference facilities, and recreational offerings, including a spa, fitness center, and retail space.

Park Hyatt Chennai, a 204-room hotel set to open by mid-year, will be situated in the capital city of the state of Tamil Nadu. The property will offer food and beverage outlets, banquet and conference rooms, and recreational facilities, including a spa, fitness center, and retail space.

Hyatt Raipur, a 104-room property set to open by the fourth quarter of this year, will be located in a new retail and office complex in the state of Chhattisgarh’s capital city and commercial hub. The hotel will feature a multi-cuisine restaurant and bar, ballroom and meeting space, as well as a business center, fitness center, and swimming pool.

Hyatt Place Hampi, a 116-room hotel planned to open in the third quarter, will be situated nearby the Bellary industrial district. Hampi, which features spectacular views of the Sandur ranges and is home to a group of monuments classified as a UNESCO World Heritage site, also serves as a popular leisure destination. The property will include a multi-cuisine restaurant, meeting rooms, and a fitness center, and swimming pool.

Hyatt Place Pune, Hinjewadi, a 117-room property set to open in the third quarter, will be located within the Rajiv Gandhi Infotech Park at Hinjewadi, a prominent software hub. The hotel will feature a multi-cuisine restaurant and meeting space, as well as a business center, fitness center, and swimming pool.

Hyatt Place Bangalore, Whitefield, a 200-room hotel scheduled to open in the fourth quarter, will be part of a mixed use development on Whitefield Road in Banaglore’s IT Corridor, which houses some of city’s largest technology and real estate developers. The property will include a restaurant, meeting space, and a fitness center.

“We are focused on creating preference by enhancing distribution of our full-service, extended-stay and select service brands in both new and established markets in India where our guests are increasingly travelling,” said Ratnesh Verma, Senior Vice President of real estate and development for Hyatt Hotels & Resorts in Asia. “Creating a strong presence in India with our complete brand portfolio is critical to Hyatt’s leadership in the global hospitality sector.”

With 53 hotels under development in India, Hyatt currently plans to offer its full portfolio of brands, including:

16 Hyatt Regency hotels under development, in addition to five already open 4 Grand Hyatt hotels under development, in addition to two already open 6 Park Hyatt hotels under development, in addition to one already open 23 Hyatt Place hotels under development 2 Andaz hotels under development 1 Hyatt House hotel under development 1 Hyatt hotel under development.

As part of this expansion, Hyatt is seeking to attract and develop high-quality talent in India in order to drive future growth. Currently, more than 3,500 associates are employed at Hyatt hotels in India, and with the development effort, it is expected that more than 7,000 new associates will be welcomed into the Hyatt family. Hyatt is investing in training curriculums and accelerated leadership programs in order to ensure that new associates support the company’s mission to deliver authentic hospitality and to develop new professional opportunities for its associates.

Real estate sales fall to 31 month low in November

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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, hyderabad real estate news, hyderabad news, andhra pradesh newsPrabhudas Lilladher (PL) India has come out with report on Real estate`s sector. According to the report sales registrations for the month of November 2011 are down 20% YoY to 4,060 levels. On a MoM basis, registrations declined by 12%. Sales registrations have continued to languish at 4,000-4,500 levels for the last few months amid a challenging macro environment. November registrations are the lowest once again and this time in 31 months.

In terms of monetary policy, RBI has indicated that a reversal in policy is on the cards as soon as the expected drop in inflation materializes over the next few months. Although resumption of easing would be a definite positive for the sector, benefits would come with a lag.

In the meantime, if the current status quo on pricing is maintained, things could get worse for the sector before getting better. Thus, we believe action on the pricing front by developers is what is needed to revive the sector`s fledgling fortunes.

In terms of lease transactions, November numbers stood at 8,580, a growth of 58% YoY on a low base of last year. On a MoM basis, leases were up by 6%.

South India to see spurt in hotel rooms

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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, Bangalore real estate news, bangalore hospitality news, Hyderabad real estate news, hyderabad hospitality news, chennai real estate news, kerala real estate news, kerala hospitality news, chennai hospitality newsThe south Indian hospitality market would see an addition of 14,500 new rooms in 178 star hotels across southern states by the end of year 2012. Increase in rooms as against the demand, especially in cities like Chennai, would keep the room tariff from going high in the near future, according to the Southern India Hotels and Restaurants Association (SIHRA).

Currently, there are around 44,800 rooms in a total of 595 star hotels in south India — around 243 hotels in Tamil Nadu, 189 in Karnataka, 116 in Andhra Pradesh, 37 in Kerala and 10 in Puducherry. Besides, around 178 hotels in the one-to-five star categories received approval from the Government and are expected to be set up during 2012.

Speaking to the reporters after the 60th annual general meeting of SIHRA, T Natarajan, Honorary Secretary of the Association, said almost 4,000 more rooms, mainly in the premium segment, would be added in the next two years. At present, there are around 4,400 rooms.

The current occupancy rate, especially in Chennai, is around 90 per cent during tourist seasons and 65-70 per cent in offseason.

However, adding up new hotels in the lower and budget hotel segments would not see much growth with the current real estate prices. Considering the current real estate prices, setting up of one- star and two-star hotels in major places would not be viable. The star category ranges to only around three to four per cent of the total hospitality industry.

The association had earlier suggested the government to allow land on lease for hotel projects. But this has not been considered by various governments so far.

Meanwhile, the association elected Bangalore-based hotelier K Syama Raju as new President of SIHRA for the year 2011-12. Other office bearers include Jose Dominic, vice president, in charge of Kerala operations, Ramanatha Bhat, Vice President for Karnataka, K Murali Rao, Vice President for Tamil Nadu and Pondicherry, and G V Krishnaiah for Andhra Pradesh.

CREDAI suggests to fine tune proposed master plan of Hyderabad

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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, hyderabad real estate news, hyderabad news, andhra pradesh newsThe Confederation of Real Estate Developers’ Association of India (CREDAI), Hyderabad has given a number of suggestions, including developing townships in the peripheral areas, strengthening the transportation system, to help the Greater Hyderabad Municipal Corporation (GHMC) fine-tune the proposed master plan.

CREDAI, the apex body of realtors, has suggested that integrated townships be developed to decongest the city, as the urban infrastructure would be under tremendous pressure as the population goes up.

The GHMC master plan seeks to address all aspects of development, overall planning, transportation, various other urban amenities required for the growing city, factoring an area of 7,000 square km and a population of 1.8 million by 2031. The draft plan, released for public debate, seeks to ensure all-round development of one of the fastest growing metropolises in the country.

The Hyderabad Municipal Development Authority (HMDA) has earlier, during the week, announced the extension of the deadline for submission of suggestions and complaints by two more months, up to October 21, to evolve the final master plan.

CREDAI, in association with the Institute of Town Planners of India (ITPI), Andhra Pradesh Chapter, formed separate groups, and have come up with a series of suggestions to be incorporated in the final master plan. This follows workshops on the Draft Metropolitan Development Plan, with more than 400 persons from varied backgrounds taking part.

Mr C. Shekar Reddy, President CREDAI-AP, suggested that the Draft Plan needs to include the important dimension of investment planning. Infrastructure Development Plan and economic factors need to be integrated along with environmental issues.

Mr G. Yoganand, President, CREDAI Hyderabad, felt that the role of infrastructure planning was critical for overall development, and the master plan needs to address various urban issues related to growth, migration and infrastructure development.

During a recent meeting, Mr. B. R. Meena, Vice-Chairman and Managing Director of Andhra Pradesh Industrial Infrastructure Corporation Ltd. (APIIC), said that the master plan encompasses a large area of approximately 7,000 square km. The focus of the APIIC is to create necessary land required for industrial use, and also, possibly, relocate some of the polluting industries.

CREDAI’S SUGGESTIONS
In its suggestions, the CREDAI, which formed subject-wise teams, suggested that the Government provide land from its land bank to the developer for taking up new projects. It also favoured an automatic route for approval of building plans to expedite projects.
To curb unauthorised constructions and developments (layouts), it was suggested to make the registration department and departments such as water works, electricity, and financial institutions responsible for enforcement. It felt that the enforcement department in local bodies should be separate and also centralised for effective functioning.

Applicants should demarcate setbacks and areas affected under road development before the grant of permission. It mentioned that HMDA should immediately undertake preparation of the Metropolitan Investment Plan, along with finalised Metropolitan Development Plan, as required under the HMDA Act, so as to address the issue of master plan implementation, phasing and programming.

There should be a provision for incentives, by way of exemption of fee and charges for green buildings.

According to CREDAI, it is preferable to have a perspective plan for 40 years, for infrastructure planning, and development plan and statutory land use plan for 5 years. All government lands should be distributed equitably and only for public use. Land use has to be mentioned in the registration document, so that its misuse is avoided.

In this decade, focussing on bio-diversity, CREDAI felt that there is a need to develop model eco-colonies as proposed in the master plan. Environmentally-sensitive lands such as agricultural lands, water bodies, catchments should be demarcated and protected. Urban forestry has special mention, while relocation of polluting industries needs to be considered.

The basic assumptions taken in the master plan, regarding population figures, growth rate, economic factors need to be reviewed again, taking into account 2011 census figures, as this is based on earlier data. There should be a single-window approval for all the projects within HMDA area, it felt.

Surrounding towns such as Sangareddy, Shadnagar, Bhuvanagiri should be developed as Industrial and employment nodes, so that they develop into Tier-II towns in and around the HMDA area. This would relieve pressure on Hyderabad core city, while favouring regional planning as a part of perspective plan.