ON THE GROWTH CURVE MODE
07.31.08 (1:16 pm) [edit]Both Bhiwadi and Dharuhera are part of the 2021 regional plan for the National Captial Region
Atbustling industrial town on NH-8, Bhiwadi has acquired the 'real estate destination' tag. When developers in the area realized that land availability was extremely limited in nearby Manesar and Gurgaon.Already home to over 2,500 industrial units, Bhiwadi serves as a gateway to Rajasthan.The Rajasthan (state) Industrial (development) and Investment Corporation (RIICO) had Envisaged a growth pattern on the lines of Pune and Hosur for Bhiwadi and today the town is living up to that vision. Several real estate firms like Ashiana, M-Tech, MVL, and the Piyush Group are developing integrated townships in the area and the growth of the industry in the area has led to a spurt in demand for housing. Ashiana's project Ashiana Utsav offers post-retirement lifestyle accommodation to senior citizens while M-Tech developers'Camelia Gardens offers luxury villas with their own swimming pools. Commercial project in the area include the Central Market, the Ganpati Plaza Complex, and the Ashiana Arcade Complex. The Ashiana group also has two retail Malls coming up.
Bhiwadi's industrial zone is expected to be the next hot commercial hub as a number of SEZs including one by the Reliance group are coming up in and around the area.
RIICO plans to develop a dry port to facilitate value added services like, container sheds, transit yards, warehouses, railway siding and truck parking, apart from excise payment and customs clearance facilities. To attract investment in biotechnology sector, RIICO has also developed a state-of-the-art biotech park.
Proposals for a railway station and a road by-pass have been sanctioned -- in less then four years, Bhiwadi will be connected to Rewari by a broad gauge rail link and within two years by a bypass to NH8 and the Sohna Road. Barely a 15-minutes drive from Bhiwadi is Dharuhera in Haryana. Bullish about the area, the Haryana Government has already invested in Bawal. In 2020, both Dharuhera and Manesar will become very important locations as thanks to the expressway Gurgaon is already seen as a part of Delhi. In that scenario-in 2020--Neemrana and Dharuhera would serve as suburbs.
The fast-paced industrial development taking place in the area has acted as a catalyst for the rapid growth of real estate in the area. Developers active in the area include Parsvnath, Omaxe, Dwarkadhis, GTM, and Natraj. Parsvnath city located at Dharuhera Sectors 1, and 1-A, is spread out over 114 acres and will offer apporximatly 1000 apartments of three bedrooms each and 150 villas. All these will be air-conditioned and facilities will compare to the world's best cities. Plots available in this township will range from 300 square yards to 960 square yards.
According to Amit Chiller of landmark Developers, four residential projects and one five star hotel have been approved in the area and an international hotel chain will operate the hotel project. On the residential side, the company plans to construct two low-rise apartment projects and mini farm houses of 1000 square yards each. These would be weekend homes for business executives. Small villas would range between 300-500 yards and have a covered area of 2,400 sq ft. The hotel will be a 12-acre property with 3,000 rooms. The clientele will include business tourists in the Indo-Japanese corridor area.
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TCM Launches Study On IT-ITES
07.29.08 (5:13 pm) [edit]Trammell Crow Meghraj, one of India's leading international property consultants, recently launched their detailed real estate study on "Major IT-ITES Hubs In India -- A Snapshot" at a function in Leela Kempinski Hotel. The launch took place at a celebratory event organized by the Delhi-based publishers of Real Estate Observer, a real estate magazine in which TCM is a knowledge partner. The event was graced by leading dignitaries including Tim Eynon, CEO, Prozone Enterprises Pvt. Ltd., and Niranjan Hirananadani, MD, Hiranandani Group.
The study analyses the impact of the proliferating IT-ITES sector on the country's real estate scenario, giving detailed city profiles for all Indian metros and evolving IT-ITES destinations, and summing up with a comparison of cities in the IT-ITES viability context. & nbsp; &n bsp;
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RECLAIMING RENTED PREMISES FROM TENANT
07.29.08 (12:29 pm) [edit]SOME CONDITIONS UNDER WHICH A LANDLORD CAN ASK HIS TENANT TO VACATE THE PREMISES
The Rent Control Acts of various States contain provisions to protect tenants against eviction by the landlord on arbitrary grounds. Usually, no order for the recovery of possession of any premises will be made by the rent controller in favour of the landlord against a tenant in normal circumstances.
The controller may make an order for the recovery of possession of the premises on one or more of specified grounds only. An application should be made to him in the prescribed manner.
These specified grounds include: ;
Non-payment of rent
The tenant has not paid the rent or arrears within two months of the due date. No order for recovery of possession of any premises is made if the tenant pays the rent due or makes a deposit. However, after obtaining this benefit once in respect of any premises, a tenant is not entitled to it again.
Sub-let without permission &nb sp;
The tenant has further sublet or assigned without obtaining the consent of the landlord in writing. Any premises which have been let for being used for the purpose of business or profession will be deemed to have been sublet by the tenant if the tenant has allowed any other person as a tenant in the premises without the consent of the landlord.
Using premises for other purposes ;
The tenant has used the premises for purposes other than that for which it was let, without obtaining the consent of the landlord in writing. The landlord must give a notice to the tenant asking him to stop misuse of the premises. The tenant must have refused or failed to comply with such a requirement within one month of the date of service of the notice. Further, the misuse of the premises should be causing public nuisance, damaging to the premises or should be detrimental to the interests of the landlord.
Residence not used
If the tenant or any of his family members have not been residing in a premises let for use as a residence for a period of six months. Also, if the premises let out for residential purposes are required by the landlord for self-occupation. They may also be required for any person for whose benefit the premises are held. The landlord or such a person should have no other reasonably suitable residential accommodation.
Unsafe building ;
The premises should have become unsafe or unfit for human habitation and required by the landlord for carrying out repairs. Also, the premises should be required by the landlord for the purpose of additional building or alterations. The proposed reconstruction should not radically alter the purpose for which the premises were let. The alteration may also be in the public interest. Further, the plans and estimates of such reconstruction should have been properly prepared and necessary funds should be available with the landlord.
Some other reasons: ;
The tenant has either acquired or been allotted possession of a residence.
The premises were let out to the tenant because he was in the employment of the landlord and the tenant has ceased to be in such employment.
The tenant has caused substantial damage to the premises. Unless the tenant carries out repairs within the specified time or pays the landlord compensation as the controller may direct, he can be vacated.
The tenant has used the premises in a manner contrary to a condition imposed on the landlord, Government or the local development authority. A Government authority may have imposed some conditions while giving him a lease of the land on which the premises are situated. — A G
Courtesy: - TOI dtd: - 26th July 2008
Destination Kandivali
07.28.08 (1:40 pm) [edit]Kandivali, a largely residential suburb, located between Borivali and Malad on Mumbai's western line, is in the throes of an urban makeover with developers eagerly cashing in on its proximity to the arterial Western Express Highway and improved infrastructure to lure homebuyers and retail players with a slew of projects.
When Avinash and his wife Shantashree moved from the elite suburb of Bandra to a bigger flat at faraway Kandivali about five years ago, he feared the worst. And not without good reason, after all if it wasn't for the space constraints imposed by his cosy but small two-room apartment, he had no reason to relocate from Bandra, the suburb where he grew up and more importantly, where most of his social contacts still resided. "I had heard stories of Kandivali's commuting hassles, lack of basic amenities and frequent leopard attacks on people at the neighbouring Sanjay Gandhi National Park," recounts Avinash with a wry smile. It was only a few months after he had shifted with his wife to their new abode at a suburban apartment complex at Kandivali (East), did he realize that the horror stories he had heard were far from the truth. "I was pleasantly surprised by what I found. In fact, I have since advised quite a few of my acquaintances to move out here," he admits.
Kandivali over the decade has undergone a complete urban transformation and now rates as one of Mumbai's fastest developing suburbs and a preferred retail destination with plush shopping malls like Growel's 101, Shoppers' Stop and Raghuleela Mega Mall. Its landscape is now adorned with a huge number of high-rises and housing complexes that includes landmarks like the sprawling 21-lakh sq. ft. Evershine Millennium Paradise, a self-contained residential township with over 100 buildings, Challenger Towers, a clutch of six multi-storied buildings that reach for the skies and Raheja Willows, K Raheja Universal's residential complex on Akurli road that offers a choice between 2 & 3 BHK apartments in three towers with premium amenities. Other prominent projects include: Thakur Village, Thakur Complex, Kalpataru Gardens, Oberoi complex, Sun City complex and Gundecha Builder's Valley of Flowers.
The Lokhandwala group has come up with two townships in Kandivali- Whispering Palms and Spring Leaf. The former is a luxurious township of earthquake-resistant homes, spread over 27 acres of land and just minutes away from the WEH, while the latter too is a residential complex of 2 BHK and 1BHK apartments, with extra amenities like a tennis court, a play area for children, swimming pool, health club, besides ample parking space for residents.
While the eastern part of this suburb has witnessed the bulk of construction activities given the ample land available and a booming demand, Kandivali (West), with its large Gujarati population, is the ideal destination for the suburban crowds with its cleanliness, excellent connectivity, affordability and well-defined distance between its residential complexes and commercial areas.
Shopping for groceries and provisions is easy and affordable with the Charkop market and Apna Bazar close by. While Shoppers' Stop is the major retail shopping attraction, cinemas like Cinestar, Fame and Mayur cater to the tastes of the local moviegoers. This suburb also boasts of some of the best medical facilities in the city with a concentration of about 15 hospitals in the vicinity and a clutch of marriage halls that also abound here. As an increasing number of young, upper middle class property buyers look seriously at Kandivali as a residential option, the property rates of the suburb have shot up by about Rs 1,200 in past 4 years. Currently, the rates fluctuate between Rs 1,800 and Rs 2,800 per sq ft, depending on the area where the property is constructed and the facilities that the builder offers. Kandivali will also get more accessible once the fifth and sixth railway lines are added between Bandra and Borivali - a Mumbai Urban Transport Programme, which is expected to be implemented by 2007.
Attracted by the cosmopolitan mix of its residents and array of shopping, entertainment and lifestyle options close at hand, Kandivali is fast becoming the numero uno choice among young married couples and DINK (Double Income No Kids) families looking to buy or rent affordable home without having to compromise too much on their quality lifestyle.
"After living as a tenant at Andheri (East) where I couldn't stand in my balcony let alone go for a leisurely stroll in the evening thanks to the intense pollution and traffic congestion, moving to this flat at Kandivali (East) has been one of the best decisions of my life," concurs Adrian De'Souza, an IT professional with a software firm. "Earlier I lived at Andheri because it was closer to my office. After relocating I do spend more time traveling to and fro from work but it's well worth it because Kandivali offers a lot more in terms of open spaces and entertainment options," he affirms.
Mahesh Joshi, who moved with his family of four to Kandivali four years ago, was on the lookout for a larger flat that also afforded a quality lifestyle for his growing kids. Says he, "When I began my search, I explored many apartments in suburbs like Versova and Marol, but was disillusioned by the high prices and the sheer congestion. Kandivali, on the other hand, has a lot more greenery and open spaces for children to play in. Moreover, I was quite impressed with the area's shopping and entertainment options and the upcoming flyover that will connect Kandivali east to the west. All these factors cemented my decision to move here and now on hindsight I am happy I took that decision."
"Kandivali has been one of the biggest success stories in all of Mumbai's suburbs," says Dhiren Shah, Shah Property Consultants. "Customers are definitely showing a preference for its many integrated townships like Evershine Millenium, Valley of Flowers, Thakur Village and so on. Moreover, some of Mumbai's leading builders like the Kanakia's, Lokhandwala, Oberoi, Sheth group, Dynamix and Gundecha have their projects here. We are already witnessing a change in our customer profile for Kandivali projects from middle-class to upper-middle class. With the current rates for residential properties hovering between Rs 1,800-Rs 3,000 psf, the future looks quite promising.
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Delhi: Mall Adorns Paschim Vihar
07.26.08 (3:16 pm) [edit]Capitol City Mall, a new lifestyle destination in west Delhi, is a project done by Realtech Group with its joint venture partner Thapar Homes. It's the first of its kind of retail extravaganza in Paschim Vihar covering an area of 1.50 lakh sq. ft. comprising four floors with arrangement for shopping, entertainment and food. Adding to the all-important dimension of space and freedom, the 10,000 sq ft central atrium perfectly complements the building which is conveniently located next to the tri-junction of Punjabi Bagh, Paschim Vihar and Jwala Heri with ample parking area...
The chief architects are Pradeep Sharma & Associates of New Delhi. It conforms to Zone-V seismic compliance with sophisticated firefighting systems and high-speed elevators. There is also an RO water plant system.
Commercial developments
07.25.08 (3:44 pm) [edit]Despite being a small town, Bhiwadi offers great return on investment in commercial property due to its locational advantage. The well-known shopping/commercial complexes in Bhiwadi include Central Market, Dhaba Commercial Complex, Ganpati Plaza Complex and Ashiana Arcade Complex. Central Market is the most pricey. This ground+2 floor market looks dilapidated, crowded and old but commands a price between Rs 8000-15,000/sq.ft. As the price is shooting up, the building is adding additional floors. The present rate prevalent in Dhaba complex is Rs 5000/sq.ft. Ganpati Plaza is largely an office complex where the property price is Rs 2500/sq.ft.
Since the mall culture is yet to embrace the town it holds a lot of promise for small developers in terms of retail development. To address this need, several malls are already being constructed in the town like Village Mall by Ashiana group, Capital Mall by R-Tech Developer, Parsvnath City Centre and BB Mall & BB Square by Jagrit Infrastructure Pvt. Ltd.
The 92,000 sq.ft Village Mall is coming up in Ashiana Village, targeting 1,000 families residing in this complex and families staying in other Ashiana projects around. It will be a mixed development with two floors dedicated to shopping and the other three marked for corporate space.
Bhiwadi-based developer Jagrit Infrastructure Pvt Limited is making BB Mall. According to Col. (Retd.) D.K.Sawan, Vice-President of the company, BB Mall is coming up close to the highway and BB Square plaza near Central Market, which is the prime but highly unorganized shopping locality. BB Mall will be fully air-conditioned, the first mall to have such a facility in Bhiwadi. Spread across 1,50,000sq.ft., this ground+5 storeyed mall will have shops, office space and multiplex. Sawan adds, "We will be investing Rs 50 crores to commission BB Mall. It will be ready by the end of 2009. Ground, first and second floors will be the shopping zones, while on third floor we will have corporate offices, shops, food court and hotel, and on 4th and 5th we intend to have a 3-screen multiplex. The shops on the ground floor are priced at Rs 7700/sq.ft and the rate gets reduced by Rs 1,000 for shops on each upper floor. The office space is priced at Rs 4711/sq.ft. BB Square will be a plaza of 25,000-35,000sq.ft. The rate is Rs 8,000/sq.ft here."
Bhiwadi will soon witness the emergence of service apartment culture. Parsvnath City Centre, by Parsvnath Developers Ltd. will be an exemplary combination of shopping, multiplex and serviced apartments. With three floors of boutiques and high quality merchandise stores, it is claimed to be the largest shopping mall in Bhiwadi. Wing Commander R.K Maheshwari, Vice-President (Marketing), says, "There are a lot of industries coming up in Manesar, Bhiwadi and surrounding areas. We are developing a township with fully furnished service apartments with club facilities, food court and shopping mall targeting at the floating population who visit these factories. The project will be complete by early 2009 and we are expecting 50% return on investment. The apartments are priced at Rs 2450/sq.ft., and the shops are priced at Rs 5,750 for the ground floor, the deduction being Rs 1000 with each floor upwards."
R-Tech Developers Pvt. Ltd. will complete Capital Mall in April 2009. With a grand frontage of 325 ft. and spread over 1,75,000 sq.ft., the six-floor mall will be dedicated to retail and entertainment with branded showrooms, boutiques, hypermarket, fast food joints and a four-screen multiplex. The ground floor shops are priced at Rs 5750/sq.ft., upper ground floor at Rs 5000/sq.ft. and the first floor Rs 4,500/sq.ft. Says Akhilesh Tyagi, GM (Sales), R-Tech, "The population of Bhiwadi has risen to six lakhs and 50,000 apartments are expected to be completed in the next two years. The primary catchments will be from surrounding residential and commercial pocket,"
Real estate experts believe that with boom in residential developments and propensity to spend on the rise, there is great scope for earning good returns on investments from malls.
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Industrial scene
07.25.08 (3:41 pm) [edit]Bhiwadi has today emerged as a bustling industrial township. Around 20,000-30,000 persons commute from Delhi, Gurgaon and Rewari to Bhiwadi on a regular basis to work in around 2,500 small, medium and large industries, which include MNC units that manufacture various types of products like steel, furnace, electronics, engineering, textiles, pharmaceuticals, cables, rolling mills, food processing, herbal care etc.
The Rajasthan State Industrial Development and Investment Corporation (RIICO) have envisaged for Bhiwadi a growth similar to that in Pune and Hosur. Good roads, developed plots, continuous power supply, high-speed data transferring facility and common testing facility are already developed in the industrial area of this town.
RIICO has envisaged developing a dry port that facilitates various value-added services. The facilities planned include container sheds, transit yards, warehouses, railway siding and truck parking, apart from excise payment and customs clearance facilities. RIICO is acquiring more land in Bhiwadi for expansion of the auto complex, which will have an exclusive auto component unit and engineering zone with a tool room and training centre. The automobile hub would generate new investment amounting to Rs.3,000 crores in the Bhiwadi region, creating employment potential for over 7,000 persons. As Rajasthan has the highest livestock population and tremendous bio-diversity, the state has good potential in animal husbandry, genetic engineering and biotechnology. To attract investment in biotechnology sector, RIICO is considering developing state-of-the-art biotech parks. A friendly-investor biotech policy is also on the anvil, under which many lucrative incentives will be provided to the biotech investors.
Some of the other projects that are to be taken up for development by PDCOR Limited, a joint venture company promoted by Government of Rajasthan and Infrastructure Leasing & Financial Services Limited (IL&FS), include an International Trade Centre and Medicity. An export-processing zone by DLF Group and a SEZ by Ansal API are also under implementation.
Future prospects
“The town infrastructure would get a further boost with planned and aggressive initiatives by the government”, R.P. Singh, Executive Engineer with Urban Improvement Trust (UTI), Alwar and Bhiwadi, remarks. He is positive about the future of Bhiwadi. "The proposal for railway station and bypass has been sanctioned. Within 2-4 years, Bhiwadi will be connected to Rewari by a broad gauge rail link and within two years a bypass will connect NH8 and Sohna Road. This year the state government has set aside Rs 4 crores to develop a commercial/office complex."
A focal point between all-important existing and upcoming industrial towns of Manesar, Dharuhera, Bawal, Chaupanki and Neemrana, Bhiwadi is on fast track offering great investment opportunities.
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Bhiwadi a Rising Star
07.24.08 (2:58 pm) [edit]Once a sleepy hamlet shunned by the property developers, Bhiwadi, a bustling industrial town on NH8, is today witnessing frenetic residential and commercial activity, fast turning into a promising real estate destination.
Touted as a gateway to Rajasthan, Bhiwadi, falling in Alwar district and bordering Haryana is a major industrial growth centre in the NCR with more than 2500 operational industries. Bhiwadi enjoys immense locational advantage with Indira Gandhi International Airport, New Delhi, just 55 km away and Gurgaon 40 km away. Being close to Delhi and well connected by National Highway No.8, Bhiwadi is attracting industrialists not only from the capital but also from Punjab and other parts of India. Manesar, lying between Gurgoan and Bhiwadi, is another major industrial town with IT parks and proposed special economic zones. As the prices in Gurgaon are already high, service class people are left with no choice but to go to Dharuhera, Manesar or Bhiwadi. Several private firms like Ashiana, M-tech, Kajaria, MVL, Bhaskar BDI, Parsvnath, Omaxe, Piyush group etc are developing integrated townships and group housing projects along the Alwar-Bhiwadi Road, the nearest and most affordable destination. And today the real estate developers are quite upbeat about the brand Bhiwadi. Says Vijay Mohan, Marketing Manager of Ashiana Group, "In 1992 when we introduced our group housing scheme, we had to sell Bhiwadi first and then our product but today, from the marketing point of view, it is much easier for us to sell because Bhiwadi is gaining popularity and we are established as a brand in this locality. In 1992, people who had purchased flats from us for Rs 800/sq.ft. are today reselling them for Rs 2600/sq.ft. The 3 BHK villas that sold for Rs 15 lakhs in 2003 today fetch not less than Rs 60-70 lakhs."
The price appreciation is more discernible in retail arena as there is hardly any decent commercial complex in the town. In 1999, Rajender Gupta, a property dealer of Bhiwadi, bought a retail space in Central Market for Rs 5 lakhs. Today it has touched the Rs 50- lakh mark. He added, "Usually, every four years there is a boom in property prices and I believe that in 2009, the investors will get 100 per cent return for their investments."
Citing the reason for sudden real estate development in Bhiwadi, Rajesh Gulati, CEO, Infocus India, says, "Government's plan to develop Mumbai-Delhi industrial corridor (Bhiwadi will fall under phase I) and the entry of several new multi-national companies in and around Bhiwadi have acted as catalysts." He added, "In 2005, with the development of Gurgaon, Bhiwadi started gaining visibility. But the land, which used to cost Rs 20 lakhs/acre then, has jumped to Rs 1 crore/acre in 2007. In a year or two, it is sure to double."
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Residential scenario
07.24.08 (2:54 pm) [edit]The continuing growth of industries has naturally accelerated the demand for housing and it was in this context that in the 80's, Rajasthan Housing Board (RHB) constructed 985 lime and stone houses on 40 acres of land for the industrial workers on Dharuhera-Pawal Road. In 1991, RHB and UIT (Urban Improvement Trust) together developed Sectors 4 and 7 with 862 concrete houses built as part of this scheme (53% of them for the low-income group), while 266 of different categories are planned in the Milkapur Gujar locality situated to the south of Dharuhera-Pawal Road.
The housing options currently available in this town are the ones constructed by the RHB, plots of UIT that is purchased on which houses are constructed, Ashiana projects and Konark's Oasis group housing colonies developed by private builders. To meet the scarcity of classy homes, Ashiana has given Bhiwadi Gulmohar Park, Bagicha, Gardens, Greens, Rangoli and Ashiana Villas, which are fetching a good price for the investors.
Ashiana Group's exclusive project, called Ashiana Utsav, is slated to be India's first resort offering a comfortable post-retirement life to elderly citizens. The owners are free to sell or rent their flats and the builder also extends this facility for a fee. Anticipating a huge demand for housing by the employees of the proposed projects like car plant of Honda Siel in Khuskhera, SEZ of Reliance, Kundli Manesar Palwal (KMP) Expressway etc., several private developers are making contem porary-style apartments. MVL Coral boasts of podium garden, M-Tech markets Camellia Garden's luxury villas complete with personal swimming pool and fountain while Ashiana and Cosmos promise high quality residential developments. Kajaria Greens and Residency by Kingfisher are the other projects wooing the lifestyle-conscious people. And the yet to be launched Green City's NRI City will bring in the concept of golf homes. Besides, local developers like Nishita Builders Pvt. Ltd, Piyush Group, BDI Group & Bhaskar Media Conglomerate are coming up with integrated townships. With increasing consumer awareness, the developers are striving to redefine their product offering in terms of quality and design.
If one has to invest in residential property in Bhiwadi today, the plots by UIT are available between Rs 600-1200/sq.ft., the rates in housing colonies by RHB are around Rs 1500/sq.ft. and flats that are developed by private builders are quoted at a price between Rs 1400-2000/sq.ft.
Says Col. Dilbagh Yadava, Project Head, MVL, "There are several latent factors about Bhiwadi like the proposed airport, railway station, bypass, SEZ and Honda Siel Company, which have attracted real estate companies like us to develop our projects here." Adds, Prem Adip Rishi, CMD, MVL, "We entered Bhiwadi seeing rapid industrial growth and for its excellent connectivity. At present, there is an over-supply and so this is the time for wise investors to invest because once these projects materialize, the prices will escalate."
In fact, the price appreciation is already there. Amrit Pal Singh, GM (Marketing), Kingfisher Construction Pvt. Ltd. observes, "We had launched our project in January 2007, then the price quoted was Rs 1550/sq.ft. Today we sell our flats at Rs 1725/sq.ft. and by August 2008 when the project will be ready for possession it may go upto Rs 2200/sq.ft."
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Mumbai: Best Options At CBD-Belapur
07.23.08 (2:38 pm) [edit]Lakhani Constructions, based in Navi-Mumbai, has launched three new realtyoptions at CBD-Belapur. The G+10 storeyed Lakhani Centrium at plot No. 27, Sector 15, offers plush offices measuring between 2,500 sq. ft. to 50,000sq. ft. Alternately, the G + podium + 14 storeyed Suncoast, at the same address, offers a choice between multi-level duplexes (2/3/4 BHK flats) and penthouses with modern amenities that include a swimming pool, indoor games area, gymnasium and meditation area. The project is scheduled for completion in the next six months. Lakhani's Galaxy offers ready possession options that stretch G+12 storeys at CBD-Belapur's plot No. 83 at Sector 15.
Mumbai:-New Mall in Andheri near Housing Zones
07.22.08 (6:01 pm) [edit]Mumbai-based Harsh Kaushal Corporation has launched its state-of-the-art Crystal Point mall at New Link road, Andheri (West), near the residential hubs of 4 Bungalows, 7 Bungalows and Lokhandwala Complex. The highlights of this centrally air-conditioned mall are a food court and entertainment zone on the fourth floor, with a banquet/conference hall spread over a massive 8, 000 sq ft. of area. An open terrace, measuring 30,000 sq. ft., is to be attached to it There will be two high-speed transparent capsule lifts that will afford a full view of the mall and its surrounding areas, ample parking space for more than 500 vehicles, high-class glass façade and a glass-roof atrium. Having already roped in Star India Bazaar as their anchor tenant, the mall is now open for booking shops on lease
New Hopes
07.22.08 (12:22 pm) [edit]Ganga Express Way
In fact, roads are meant for transportation but these bring riches which way these pass. Ganga Express Way will also be similar. The way it will pass, it will bring happiness there. The Ganga Express Way leading from Greater Noida to Banaras is the destiny changer of people. While this express way will be a mile stone from the traveling point of view, it will prove a boon for the areas which fall on its verges. According to the wishes of U.P Administration, these areas will be developed on the pattern of Noida & Greater Noida. Proposal to construct township at the verges of Ganga Express Way has been sent by several districts to the administration
Formula-1 Race Track
There is a proposal to construct a Formula-1 Race Track in Greater Noida. The authority has selected 700 acre land for it. An estimated amount of Rs 1600 crores is expected to be spent on this project
Night Safari, Tourism & Entertainment.
Night Safari work will also be started soon in Greater Noida. Green signal has also been given for construction of transportation hub in Bodaki. While Corporate offices and Financial Hub will be constructed in Parthala Khanjarpur, Tourism & Entertainment Hub will be constructed near Night Safari. While a hundred types of animals may be soon by national & international tourists at night safari, pubbar, discothèque and casino can also be enjoyed simultaneously.
Lush Greenery Will Spread in Abundant
Forest department’s 280.9 hectare vacant land near night safari on Murshadpur land shall be made green again. It will be given a shape of forest by doing plantation. The authority will get the plants planted by the forest department and it will be given a shape of forest
Multi-Speciality Hospital & Inter College
One multi- speciality hospital in 10 to 15 acre land and two residential inter colleges in an area of 20 to 25 acres shall be opened in Greater Noida. Both the colleges and hospital shall be constructed and ready within a period of two and a half years.
Greater Noida is great for residence.
07.21.08 (2:13 pm) [edit]World’s Fourth Night Safari, Ganga Express Way, Formula One Race Track like several other things make Greater Noida special. It is evident that this city is attracting people to make their house.
Greater Noida is outstripping all other cities of NCR in the race of development. This city appears to be well ahead in the matter of better infrastructure and word class projects. This is the reason that big & small, resident & non-resident investors are focusing the city. This city has its unique identity due to its World’s Fourth Night Safari, Taj Express Way, Taj International Airpot, Gautam Buddh University, Mega Projects by the sides of Express Way, Formula One Race Track, Ganga Express Way, Transport Hub, Delhi – Mumbai Industrial Corridor, India Expomart Centre, Education Hub, Container Depot and IT city etc.etc.
During the forthcoming time, greater noida will show a special sparkle on the world-map. Situated near the country capital Delhi, this city has several such special things which are well enough to captivate each & every person. Then why every one would not like to have his beautiful house here. For this, while Greater Noida Authority brings housing scheme from time to time, the private developers are also accelerating more and more the development speed of this city. The people need not bother due to the distance from Delhi here. Here on one side the proposal for construction of an airport is being passed, while on other side it is hoped to bring the metro early. Express Way facility is already there for commuter by their own vehicles. After construction of Faridabad- Noida road, here traveling will become more comfortable
New projects:-
Omaxe Group is constructing NRI city in an area of 80 acres in Greater Noida. It will be given shape of a Mini Township. It will provide the facility of mall also. In addition to this, Ansal Plaza and MSX Group’s MSX Mege Mall will also be here. People can searchi their homes in Uppal group’s Residential Pulmeria, Parshvnath’s Eaden, Platinum & Panorama , Purvanchal’s Silver City, Unitech’s Horizon & habitat including Unitech Heights etc.
High-Tech Transport
City’s transport system will be altogether high-tech. On the lines of Indore city buses will be plied here. All the buses will be pollution free. Tata Company’s 80 low floor buses will be plied in first phase for it.
High-Tech City
Preparations here already been completed to settle several high-tech cities like Noida & Greater Noida along with Taj Express Way Cities to constructed on it shall be completed in three phases. First phase master plan has been passed by Taj Authority Board during its meeting. The features of these cities shall be that the SEZ, institutional, ware housing, automobile zone, transpaort, sports centre, group housing and commercial pieces of land will be allotted not in yards but in hectares. Its development will be done by big groups.
AMARAPALI GROUP
07.19.08 (2:25 pm) [edit]Arrival of boom in real estate has seen mergence of many realtors/ builders. Among the fore runners, one is Amarapali group. Over a span of 12 years, the group has build scores of residential building, commercial complexes and corporate houses. It is now foraying promisingly into the extremely challenging space of SEZs. This remarkable success of Amarapali group owes to no. of factors namely man, machine and mantra.
Amarapali group is head by its chairman / MD Mr. Anil Kr. Sharma, who is great visionary in his own right. After creating a vast repertoire of top class residential projects, malls, SEZs and IT parks, the group the set to take a giant leap by foraying into the high growth hospitality business in the country. In the first phase, the group is going to launch its international class 4 / 5 Stars hospitality projects in the cities of Virindavan, Bareilly, Jaipur, Udaipur, Indore and Greater NOIDA.
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Courtesy: TOI dtd: - July 11, 2008
FELICITY ESTATES
07.18.08 (2:13 pm) [edit]Felicity Estates Pvt. Ltd. is a name synonymous with leadership, trust, quality and reliability. Building on strong pedigree and established reputation, the group combines an impeccable record of performance with innovation and leadership in real estate industry. Part of the SRA group (S.R. Ashok & Associates Pvt. Ltd.), Felicity Estates Pvt. Ltd., combines strength of experience with the dynamic needs of modern living. With over three decades of proven excellence in construction of residential, institutional and commercial projects for leading govt. and private agencies, today SRA group is known for consistently set benchmarks for landmark construction. Felicity Estates Pvt. Ltd. has to its credit, some of the finest residential projects in Rudrapur, Jaipur, Chandigarh, and Goa, which reflect best of the design, planning and viewing the needs of modern families.
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Courtesy: - HT dtd: - July 11, 2008
ASHIANA HOUSING
07.18.08 (2:10 pm) [edit]Ashiana is a word which defies translation. Very simply it means a home. But it is an Indian home and represents an Indian concept of peace and harmony borne out of family well-being related to the home. In its true sense, it can only perhaps be understood, by one who has cherished a home and built his aspirations and dreams around it. At Ashiana Housing & Finance (India) Ltd., this concept has helped to construct more than 3.0 million Sq.Ft. of residential and commercial space. Ashiana Housing began its operations in 1986 from the state of Bihar.
The projects executed have been in Patna and Jamshedpur. The singular aspect of the construction activities is that the company has constructed residential and commercial complexes without any time/ cost overruns. The corporate philosophy has been to provide quality construction at affordable price tags and to deliver in time. More recently the company has gone into construction of residential projects at Bhiwadi, Rajasthan and Vaishali, Ghaziabad.
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Courtesy: TOI dtd: - July 11, 2008
AKAR CREATIONS
07.17.08 (3:56 pm) [edit]Akar Creations Pvt. Ltd is a real estate arm of the Borkar group - a Rs. 150 crore Borkar group having a diversified presence in packaging, retailing and real estate. Borkar group was founded in the year 1910 as a retail kiosk and eventually spread its wings into printing and packaging and later - the construction industry. The retailing arm of Borkar group today encompasses a chain of supermarkets spread out in the city of Margao-Goa. Akar Creations has been active player in the construction and real estate industry for 25 years. During this time Akar Creations have commissioned a variety of innovative projects in Goa. Many of Akar's projects have become landmarks in the places they are located.
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Courtesy: - HT dtd: - July 11, 2008
CROSSINGS REPUBLIK
07.17.08 (3:55 pm) [edit]Crossings Republik is one name that conjures the vision of mammoth world class city embellished with extensive greenscape, up to the minute amenities, and strategic location at NH 24, indicative of easy approach to Ghaziabad, Noida and Greater Noida. Branded as India's first global city, this 360 acres of township has malls, clubs, spas, excellent schools, and other educational institutes, golf course, hotels, hospitals, banks and spacious apartments. The inimitable city is brought about by the seven most leading names in the realty sector, namely Ajnara Farms & Services Ltd, Assotech Limited, Gaursons India Ltd, Mahagun Developers Ltd, Panchsheel Promoters Ltd, Paramount Residency (P) Ltd and Supertech Limited. They have come together with years of experience, expertise, unlimited imagination and invaluable ethics to bring about their first joint venture called the Crossings Republik. With an excellent record of over 62 successful projects, 23 ongoing projects, more than 10,000 satisfied customers and over 25 years of experience, the Group has initiated this dream project using its mighty vision, collective experience and expertise to offer an ultra-modern global city that will rewrite the concept of luxury living.
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& nbsp; &n bsp; &nb sp; &nbs p; ; Courtesy: - HT dtd: - July 11, 2008
TRIVENI GROUP
07.16.08 (3:56 pm) [edit]Triveni Group, the diversified business conglomerate with major interests in real estate and media, is developing some of the finest residential projects in NCR. These include one of the highly popular minitownships of Ghaziabad called Triveni Heights. This group housing complex offering 2 & 3-bedroom apartments is located at a very attractive location on main NH-24, Ghaziabad, just 15 minutes drive from East Delhi. The project is characterized by lavish green environs and a wonderful landscape being created by a world renowned Singapore based architectural firm.
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Courtesy: - HT dtd: - July 11, 2008
UNIQUE DREAM BUILDERS
07.16.08 (3:55 pm) [edit]Over the years, UDB (Unique Dream Builders) has become the very definition of success and entrepreneurial finesse. One of the most trusted builders in Jaipur, UDB, and a renowned name in the construction industry for over 3 decades. The residential and commercial projects executed by UDB have been appreciated not just for the foresight and attention to detail, but also for the crisp and clear legal processes and minimum hassle for the customers. Managed by the dynamic team of the highly experienced S. Ajit Singh, S. Ravinder Singh and Dr. Harvinder Singh, Unique Dream Builders has not just achieved exceptional growth in a short duration of time, but have become instrumental in transforming the skyline of Jaipur.
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Courtesy: - HT dtd: - July 11, 2008
TIVOLI HOLIDAY VILLAGE
07.15.08 (1:07 pm) [edit]The Tivoli Holiday Village, inspired by the international concept of second homes, prevalent in west, Dubai and Mauritius, will soon add spice to your weekends. The latest offering in the arena of lifestyle living, Tivoli Holiday Village is proud to present the concept of second homes. Nestled at a distance of just 20 minutes drive from Manesar, Gurgaon in Dharuhera, Tivoli Holiday Village opens a host of avenues to excite your senses. Starting with an eye striking inspired Mediterranean architecture; Tivoli Holiday Village will win hearts at the very first sight. And what can be a better way to unwind than swinging the golf club. Keeping this thing in mind, it also has fun golf by Tivoli miniature golf courses complete with a golf academy for the beginners.
Courtesy: - HT dtd: - July 11, 2008
PUSHPANJALI
07.15.08 (1:05 pm) [edit]The Pushpanjali Group is an amalgam of premium quality, quintessential contemplation and emphatic foundation of trust. The group is developing townships located at NH-2, have not only many captivating features to live in ultra modern life style but also to have tremendous investment growth possibilities. There are especially designed lucrative investment plans to match one's need and value for money. Pushpanjali is developing beautiful townships on NH-2 Delhi-Agra highway — Pushpanjali Baikuknth divine homes and PP Town holiday homes.
Courtesy: - HT dtd: - July 11, 2008
GODREJ
07.14.08 (5:31 pm) [edit]Godrej Properties Ltd. (GPL), established in 1990 and is one of the leading real estate development companies in India. GPL entered in its first project in 1991 and started operating in the Mumbai Metropolitan region. Later they expanded its business to cities like Pune, Bangalore, Kolkata and Hyderabad. Recently, they have diversified into Ahmedabad, Mangalore, Chandigarh, Chennai, Kochi and Greater Noida. Their business focuses on residential, commercial and township developments. GPL is a fully integrated real estate development company undertaking projects through their in-house team of professionals and by partnering with companies with domestic and international operations.
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& nbsp; &n bsp; &nb sp; &nbs p; ; & nbsp; &n bsp; &nb sp; &nbs p; ; & nbsp;Courtesy: - TOI dtd: - July 11, 2008
CZAR SUITES
07.14.08 (1:34 pm) [edit]CZAR SUITES will be having the tallest towers in Greater Noida with SKY STUDIO.
Landscaped Lake with water channel
CZAR SUITES is Facing 330 feet wide Green Belt
6 Acres of Central Park within the complex
Every Flat is 3 Side Open & park facing
30 Feet Wide Internal Roads
24/7 Concierge Service - Latest International Concept in Urban Living; Being Introduced for the first time in NCR by SUPERTECH
Array of branded utility & retail services to be made available to residents of CZAR SUITES
The Club at CZAR SUITES shall be made operational by December 07
At CZAR SUITES greenery is plentiful; with 83% green area, 6 Acre Central Park & each apartment facing the park, CZAR SUITES has about 165 Sq. Ft. Green Area Per Person.
Investment size
07.12.08 (4:26 pm) [edit]For commercial retail, one needs higher investments compared to residential or office real estate. For a standard size retail outlet an investment of Rs.70-80 lakh is required. "But one can buy retail space in a mall with Rs.30-40 lakh. There are 300-500 sq.ft. outlets available in the malls in the form of food stalls, ATMs, florists, travel and money transfer outlets", says Ramesh Menon of Ground Realty. But then according to Menon, higher entry-level investment is no deterrent as rental returns and capital appreciation are quite high. Investment is much more secured and exit route is easy (one can exit in six months).
Shubrahnshu Pani feels that in the commercial retail real estate smaller investors are obliged to go in for quoted price and as such they have limited bargaining power. But then the investors clubs which are springing up all across the country are proving to be a real boon for the retail investor. Says Lakhotia, founder of an Investor Club “The popularity of such clubs can be gauged from the fact that today we have a membership of 280. Since we buy in bulk, we are able to get a special bargain benefit of 15-24 percent on retail property. There is another advantage of joining such clubs. While for individual investors, investments in retail property is high (Rs.30-35 lakhs), Investor Club members can invest as low as Rs.5lakhs and reap the benefits of high ROI. Now that more and more small investors are realizing the benefits of joining the Investor Club, we are getting number of requests from other cities like Mumbai and Bangalore to set up branches of our club there.
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Eldeco Aurum
07.12.08 (4:25 pm) [edit]Eldeco Aurum, Latin for Gold, is a symbol of opulence, of status and of the very best in living standards. Located at a prime location in Greater Noida, Eldeco Aurum has been designed in meticulous detail to match international standards of high-end residential development. The simple yet elegant design by the award-winning
Architects Bose International, is a winning combination of undiluted privacy for individual apartments and a vibrant community life. The rich specifications and state-of-the-art amenities compliment the good life envisaged by the design. All this backed by the trusted Eldeco expertise in bringing visions to life.
Eldeco Aurum is more than just an illustrious residential complex. It is a new lifestyle concept where utility meets beauty. Welcome to the gold standard in living!
17 acres in a prime location surrounded by green belt
2/3/4 bedroom luxury apartments and penthouses, all facing greens
Primmed garden and main entrance plaza
Multilevel landscaping with water bodies and jogging tracks
Retail facility inside the complex
Club house with Swimming Pool, Multipurpose halls, Outdoor Tennis Courts, Gymnasium and Spa
Landscaped play area for children
Entry and exit access control to vehicles
100% power backup
Fully secure gated complex with CCTV
Piped gas supply
Computerized electricity billing.
Hot Investment Opportunities in Retail Real Estate
07.11.08 (5:16 pm) [edit]In the wake of the ongoing mall boom investment in commercial retail property has turned out be a secure investment, paying rich dividends in terms of capital appreciation and promising big rental gains.
The current retail landscape in the country looks really promising with number of malls set to touch 500 mark by 2010, adding an estimated 50msf of organized retail space over the next five years. The retail demand, according to Shubrahnshu Pani, President, Retail Services, Tramell Crow Meghraj, will see quantum jump with the entry of Wal Mart and big Indian players like Reliance, Tata, Birlas and Future Group. The way these Big Boys of retail are scaling up their operations with multiple formats, one would see a big boom in retail stores, throwing up endless opportunities for investment in retail property. Sanjay Sachdeva, Senior VP and Head Retail of APIL says that the large-scale expansion by big retailers and speedy has been possible thorough the franchising route. This has thrown up more investment opportunities in retail real estate. "Earlier investors used to fight shy of investing in shops on high street as in many cases the legal status of these retail properties was doubtful. And as such they were investing in office property for rental gains. But now with the emergence of legally free hold space in malls, more and more investors are going in for investing in retail property.
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& nbsp; &n bsp; &nb sp; &nbs p; ; & nbsp; &n bsp; &nb sp; &nbs p; ; & nbsp; &n bsp; Courtesy realty plus
Lucrative Opportunity
07.11.08 (5:15 pm) [edit]Harry Singh, Head Business Development, Do Rent a consulting firm focused on rentals, says that the intent of every investment is to earn safe revenue returns, commensurate to or higher than the available channels. In the case of real estate investment, there is obvious advantage of physical possession of a tangible asset, which gains capital appreciation, fixed monthly returns besides higher liquidity with minimal depreciation against market value. "Particularly in case of commercial retail space, investment is higher but the rental gains are the highest compared to other investment channels. It is however to be noted that returns vary between all the segments, commensurate to the entry timings and the risks factored in".
Adds Shubrahnshu Pani of Tramell Crow Meghraj "Comparing investment in retail real estate with residential and office real estate, I would say that appreciation is higher while rentals yield and risk factor are lowest in residential property. Commercial real estate is less volatile in comparison. In retail real estate, the returns are moderate in terms of appreciation while the rental yield is highest, subject to the demand-supply scenario. Finally it depends on investor’s ability to weather risk, investment power and temperament for his decision to invest". Sanjay Sachdeva says that in terms of comparative returns and security, investing in retail property is a lucrative proposition. In fixed deposits and mutual funds, the money value goes down due to inflation. Moreover the lock in period is higher. On the other hand in retail real estate lock in period is low and value and returns constantly go up.
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Subhash Lakhotia, Tax and Investment Consultant, also endorses Sachdeva's viewpoint "While stock market is very volatile, there is more liquidity with investors in retail real estate. Along with high rental returns there is hidden capital appreciation. I would advise all investors to allocate 20percent of their investible funds for retail real estate". In fact Lakhotia's Investor Club is investing 100percent in retail real estate market. "On one hand our investment is secure as we are investing in legally authorized space in malls. On the other hand we are getting a ROI of 10-14 percent," he says.
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& nbsp; &n bsp; &nb sp; &nbs p; ; & nbsp; &n bsp; &nb sp; &nbs p; ; & nbsp; &n bsp; &nb sp; &nbs p; ; Courtesy realty plus
DEVELOPERS PITCH FOR NEW CITY
07.10.08 (1:42 pm) [edit]While the authorities are set to pump in about Rs 2,168 crore by 2012 (according to the city development report) to augment infrastructure that will propel Faridabad's growth, private developers have started pouring in to create a new Faridabad, spread over 5,000 acres, within the next five years.
Private players who have invested in the region say Faridabad has everything going for it to emerge as a major residential and commercial hub. ''What the city lacked was proper marketing. It has a high potential for growth. With private investment flowing in and big townships coming up, Faridabad has already started marching ahead,'' said Amit Raj Jain, vice-president (marketing) of BPTP Limited.
Developers shifted focus to Faridabad after Gurgaon and Noida reached the saturation point. With property prices still within the reach of the salaried class, it is little wonder that private players like BPTP, Omaxe, Uppal, Ansal API, Reattach and DLF are busy constructing mega townships and commercial projects.
''We aim to make it a city where everyone would wish to live in in the next four-five years,'' says Shiv Bhatia, media advisor to Haryana chief minister.
Adds Tinku Singh, group president of SRS Group, ''The middle class can own a house in Faridabad because of the prices. As of now, we have one major link road (NH-2) from Delhi and it is congested at the border. But with the completion of two more expressways and widening of the Gurgaon-Faridabad road, things will improve. The flyover at Badarpur border will ensure a non-stop ride to the city.''
Singh says Gurgaon has its problems, including water scarcity, while law and order is a burning issue in Noida...
Developers say they are pitching for the Naharpar area as the new centre of Faridabad's growth, primarily because they already own huge patches of land there and also because of its location. ''The land we does not include any hill or water body. This is the reason why we have started to develop this patch as a large integrated township,'' said Jain.
Courtesy: - TOI dtd: - 9th July 2008
DLF Plans VC Fund for Construction cos.
07.09.08 (3:13 pm) [edit]DLF is looking at setting up a Rs 800-crore venture capital fund with a mandate to invest in companies engaged in equipment management and construction. This is being seen as a strategic move by DLF to support its rapidly expanding construction activities.
The Delhi-based firm has filed documents with Sebi seeking approval for the fund. “It is being processed by Sebi. Therefore, we cannot comment beyond this,” said the DLF spokesman. The realty boom of the past three years has changed the scale at which realty firms work in India. Companies have seen unprecedented growth and taken up mega projects, requiring manpower, equipment and management skills of a high order. DLF, India’s largest real estate firm, has been a leader in taking up big projects. It has constructed 9 million sq ft last fiscal and plans to complete 16 million sq ft this year. It has set a target of 22 million sq ft for the next fiscal. With such an ambitious target, DLF needs a strong support infrastructure in place.
DLF has focused on strengthening its execution capabilities. The venture capital fund will augment the company’s efforts towards quicker execution. The fund will invest in small companies that manage equipment, construction material and manpower. The companies may buy advanced equipment- critical for quick execution-and then lease them to DLF. Similarly, these companies can independently manage construction material and manpower and become a source of supply to DLF, whose operations are now spread across the country. These VC-funded firms which are likely to have long-term agreements with DLF, will also have the option to offer their man and material to other developers.
NEW AVENUES
The setting up of the Rs800-cr fund is seen as a strategic move by DLF to support its rapidly expanding construction activities. The venture capital fund will augment the company’s efforts towards quicker execution. The fund will invest in small companies that manage equipment, construction material and manpower. The Delhi-based firm has filed documents with Sebi seeking approval for the fund.
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NRIs Home In On India, Account For 10% of Sales Now
07.09.08 (3:10 pm) [edit]HOME sale in India might have turned sluggish but sales to non-resident Indians (NRIs) are booming. According to Jones Lang Lasalle Meghraj (JLLM), residential sales to NRIs have tripled over the last six month, from 3% to about 10% of total sales “what would happen when one loses his job in the US The downturn is scaring many NRIs who fear job cuts, “says JLLM’s Raminder Grover. “There is renewed interest in selling abroad,” says Lodha Group senior VP R Kartik. Many NRIs have been thinking of coming back to India and “many of them are making safety investment,” explains Mr. Kartik. Over the last few months, Lodha has seen a 25% increase in its sales to NRIs.
Sobha Developers has seen the share of NRI sales go up from 5% to 10% of its sales. “In the last six months, we have been selling about 25,000sq.ft.a month to NRIs,” says Sobha Developers MD Jagdish C Sharma. Selling to NRIs though is a very different proposition. “You need a different strategy for NRIs. To service the requirements of NRIs, you need to have your own representation in the target market,” says Mr. Kartik.
Omaxe has had road shows in the US, UK, Canada and Dubai to promote its residential projects and have representative offices, too. Omaxe VP marketing Vineet Nanda says, “NRIs made only about 3% of their total luxury apartment sale but today constitute about 10% a good chunk of their NRI sales comes from Middle East.”
For some like Tata Housing it is a much larger business. “We have not done any formal marketing of our properties in the international market but already 10-15% of our sales is to NRIs. When we start our promotions we expect this figure to go up to 25-30% of our total sales,” says Tata Housing CEO Brotin Banerjee. They have received a tremendous response from the US, UK and Canada for their projects in Bangalore, Gurgaon, Chandigarh, and Kolkata. “Many NRIs would like to have a place in India since the country is expected to tide over this downturn and would be a better place to work in the future,” says Mr. Banerjee. Propertymixer. Com CEO Minal Arora says a lot of NRIs who are considering coming back, are securing sales in India.
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But not everybody thinks so. For Jayesh Desai, head, real estate Ernst &Young, these are purely investment sales. Well over 50% of NRI sales will be for investment. “With a downturn in the west, India is still a better market for investment. But if they don’t see returns, this segment will start going down too,” warns Desai. According to him, the reality is that the market in India is very tight and Indian speculative investors are out. “The share of the NRI market is higher because of this,” he says. Omaxe ED Vipin Aggarwal, too, subscribes to the same logic. “Most NRIs are buying in India only for investing and not for end-use,” he says.
For developers though, it is a good way to catch up on lost sales in the Indian market. With a big push, a number of developers from across the county are embarking on road shows in market where there is a large NRI presence. The favourites really are the Middle East, U.K. and the U.S. markets.
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FALLING PROPERTY RENTALS KEEP RETAIL BOOM GOING
07.08.08 (5:30 pm) [edit]The Retail boom is here to stay Inflation may be worrying organised retailers in the form of falling footfalls but softening real estate prices will help them to continue with their planned expansions. In certain markets, the decline in rentals has been to the extent of 5 to 10 per cent and some industry players foresee a further fall of 15 to 20 per in the next few months.
Big Bazaar, Shoppers' Stop, Provogue, Vishal Retail are going ahead with their expansion as planned. A general slowdown, rising of interest rates for home loans and liquidity crunch indicate that the rental rates may dip further Big Bazaar will add 60 new stores by June 2009. It currently has 91 stores across the country Rajan Malhotra, CEO, Big Bazaar said, "The past boom of real estate saw many investors backing projects with incredibly high prices. They may now find it difficult to hold on to the same."
Govind Shrikhande, CEO of Shoppers' Stop, agreed with the expectations of falling rentals. He said, "Logically the rates should come down by over 10 per cent in the next few months. We see a realisation among partners that business cannot sustain with such high prices." Shoppers' Stop plans to fund part of its expansion from its proposed rights is- sue of Rs 500 crore. Provogue, which is planning to add 40 new stores this year is also on track with its plans and considers expansion necessary as it will give the retail chain access to new markets. Provogue's managing director Nikhil Chaturvedi, however, admitted to a slow- down, "There is definitely a slowdown and a 10 per cent reduction in same store sales when compared to last year's figures."
Vishal Retail will add 90 stores this year, of which 19 have already been opened. Manmohan Agarwal, CEO, corporate affairs, Vishal Retail said, "The rates have more or less stabilised in the past few months. We feel that they will soften further by 5 to 10 per cent in the next few months when a lot of projects will be completed and the supply will exceed the demand."
For Megamart- the retail chain of Arvind Ltd the footfalls have dropped by 10 per cent and hence, the chain is wooing consumers with discount offers and freebies to raise the average ticket price. However, it has already decided upon which properties to expand in the coming year. KE Venkatachalapathy, COO, Megamart & Retail, Arvind Brands said, "The rentals are down by 5 to 10 per cent in some markets and we foresee a further drop of 15 to 20 per cent." There are 87 Megamart stores as of now, which will go up to 125 by March 2009.
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& nbsp; &n bsp; &nb sp; &nbs p; ; Courtesy: - HT dtd: - 4th July 2008
JAYPEE GROUP GETS RS 2,050-CR LOAN FOR TAJ EXPRESSWAY
07.08.08 (12:43 pm) [edit]At A time when questions are being raised over corporate investments, the Jaypee group has received Rs 2,050 crore as a long-term loan for Taj Expressway project. This is in addition to Rs 250-crore equity and Rs 900-crore loan that the bank had earlier agreed to give for the project. With this, the financial closure for Taj Expressway project has been completed.
In all, ICICI Bank will be lending Rs 2,950 crore to Jaypee Infratech for the project, said a Jaypee group executive. The bank had earlier bought 1% equity stake in Jaypee Infratech for Rs 250 crore, valuing the company at Rs 25,000 crore. The Jaypee group's employee trust also holds 1% stake in Jaypee Infratech.
Jaypee Infratech is the SPV created to build and operate six-lane 165-km Taj Expressway, linking Noida with Agra. The company has already got the possession of the entire land required for the construction of the expressway. All necessary approvals, including the environment clearance, for the project have been received, said the company executive, adding that construction work has started on approximately 70 km of the expressway.
Meanwhile, Taj Expressway Authority has decided to rename Taj Expressway as Yamuna Expressway, probably because the name bore similarity with Taj Corridor project — Mayawati's infamous venture in her earlier stint as UP chief minister. Taj Corridor project, which was conceived to build malls around Taj Mahal in Agra, was aborted midway after it attracted nationwide criticism on environmental ground. It is likely that Taj Expressway Authority too may be soon renamed Yamuna Expressway Authority.
Jaypee Infratech has the rights to develop 25 million sq meters of land at five or more locations along the expressway. The land, which will be allotted to Jaypee group at different stages of the implementation of the project, could be used for commercial, amusement, industrial, institutional and residential purposes.
Meanwhile, Jaiprakash Associates is also working on the 1,047-km Ganga Expressway project, which it bagged a few months ago. Jaypee Ganga Infrastructure Corporation will implement the Rs 40,000-crore Ganga Expressway project that links Greater Noida with Ballia in eastern UP.
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& nbsp; &n bsp; &nb sp; &nbs p; ; Courtesy: - ET dtd: - July 5, 2008
DS KULKARNI, GTC CYPRUS TO JOINTLY DEVELOP SEZ IN PUNE
07.07.08 (4:01 pm) [edit]Housing and construction firm DS Kulkarni Developers (DSKDL) has entered into an agreement with Kardan Group firm, GTC Cyprus, for jointly developing a multi-service SEZ project in Pune. "DSKDL and GTC shall jointly develop a 250 acres multi-service SEZ project in Pune through a 50:50 JV," the Pune-based firm said in a filing to the Bombay Stock Exchange. GTC Cyprus would infuse about $90 million (about Rs 388 crore) against its stake in the JV in a phased manner, the filing said. "Any further equity contribution shall be made by DSKDL and GTC in their respective shareholding proportion," it added.
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& nbsp; &n bsp; &nb sp; &nbs p; ; Courtesy: - ET dtd: - July 5, 2008
DLF STUMPS ANALYSTS WITH BUYBACK OFFER
07.07.08 (12:03 pm) [edit]The buyback offer announced by India's largest real estate company has stumped many analysts. Going by its recent filing with BSE, the promoters of DLF own more than 88% in the company. This would mean that they have a very small window to hike their stake, as taking the shareholding over 90% would invite a mandatory open offer or delisting of shares. But long-time market watchers point out that bearish phases are always used by promoters to hike their stakes. They sell these shares later when sentiment improves, or go in for a qualified institutional placement, hoping to lock into a clean profit in the process. Besides, announcing a buyback doesn't make it mandatory for promoters to actually buy the shares. It is just an indication to the market that they think that the current price should be taken as a support for the stock. Investors took the hint on Wednesday, sending the shares soaring 15% to end at Rs 424.
Courtesy: - ET dated: - 3rd July 2008
DEWAN HOUSING FINANCE HIKES RETAIL LENDING RATES
07.05.08 (1:01 pm) [edit]Dewan Housing Finance Corporation (DHFL) has hiked retail prime lending rate (RPLR) for its existing customers by 50 basis point. The increase will be effective from July 1, 2008. DHFL has also revised its interest rates for new customers who wish to avail home loans.
& nbsp; &n bsp; &nb sp; &nbs p; ;Courtesy:- ET dated:- 3rd July 2008
SOBHA SELLS B'LORE PROJECT STAKE TO DUBAI CO FOR $10M
07.05.08 (1:00 pm) [edit]City-Based realty major Sobha Developers (SDL) on Wednesday informed the bourses that it has sold a 40% stake in an upcoming Bangalore project to a Dubai-based firm, Pan Atlantic, for $10 million (Rs 43.3 crore).
SDL sold the stake in a proposed project to develop a 1.7-million-sq ft residential township at Hosahalli in south Bangalore. The present value of the land is estimated at Rs 105 crore and forms the basis for the valuation of the deal, a statement said. "A special purpose vehicle has been formed to develop the residential township. The company expects a sales realisation of Rs 600 crore from the project," it said.
Sobha sees construction starting by the end of this year. t the end of April, the company had constructed some 20 million sq ft. and has 35 projects ongoing. It has developed 50 residential and commercial projects while the contracting division has built an additional 111 projects. As the `preferred' builder for IT major Infosys Technologies, it has about 12 million sq ft under construction for the company.
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Courtesy:- ET dated:- 3rd July 2008
Akruti Plans To Raise $500 Million
07.04.08 (4:13 pm) [edit]Mumbai: Property developer Akruti City is planning to raise $500 million (Rs 2,100 crore) to found projects. The company has received the board approval to raise the amount through the issue of equity shares to qualified institutional buyers and other options, such as GDRs, ADRs and FCCB, subject to regulatory approvals, the company told the Bombay Stock Exchange.
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& nbsp; &n bsp; &nb sp; &nbs p; ; & nbsp; &n bsp; &nb sp; &nbs p; Courtesy E.T.:-03/07/08
TIPS TO BUY YOUR DREAM HOUSE
07.03.08 (7:20 pm) [edit]House is a necessary for each of us for the living. It’s not valuable that its own or rented but every man have a dream to live on his house who are living in rented house. But it is not so simple because there are many requirement for purchase a house first of all we have sufficient money after it the place where we want to purchase our house is suite us or not and the locality and business purpose or job area. Here we indicate some small but important point which made strong house purchasing.
1. & nbsp; We must have sufficient money to purchase our dream house.
2. & nbsp; The location, locality and the transportation on that place is also running on good condition & the future of that’s area also.
3. & nbsp; Before buying the house we can realize that the place & locality suite us because house is that thing which is too difficult to purchase by a normal class man In one time if by any cause or bad circumstances made to us to change the house then our earning & the capital both are effected by this.
4. & nbsp; If we decided to purchase the house then first of all we can contact with the real estate consultant who are registered by Indian Government because there are many consultant are available and they are cheating many peoples.
5. & nbsp; And the last there is one of the most important point is if you are making your mind to purchase your own house and you don’t have sufficient money then you have take loan from the bank for your dream house but you must decide the registered bank with less interest from other banks.
Realty In Fast Lane
07.03.08 (11:14 am) [edit]The 8-lane Expressway connecting Noida - Greater Noida to Agra promises to put the property in these twin real estate hotspots of NCR, on fast track.
Special economic zones (SEZs), hotels, and commercial and residential complexes coming up on the Noida-Greater Noida Expressway offer great scope for strong and sustained growth for all real estate segments. There are 40 sectors along the expressway that have been divided into four zones under the Noida Master plan 2021 to ensure balanced development amidst population explosion. Of the total length which is around 23 kms. three kilometers of the expressway fall under Greater Noida and the rest in Noida. The 321 hectares of Greater Noida land, which is within one km of the expressway, has been a major source of attraction for realtors, IT companies and educational institutions among others. The authorities have also planned development projects on each side of the expressway in phases to give a boost to IT & ITeS services. The impact of all these developments is clearly visible in the increasing demand for land by IT companies, triggering real estate boom in these satellite townships. "In less than two years, land prices along the expressway have jumped from Rs 15,000 per square yard to Rs 22,000-Rs 32,000 per square yard ," says Dr. Ashok K. Chauhan, founder-chairman of Amity University that happens to be a major institutional landmark on the expressway. The expressway is likely to emerge as a hot IT destination on the strength of its proximity to New Delhi and availability of quality urban infrastructure including housing. One factor that makes it an attractive destination for InfoTech is the land scarcity in the national capital leading to high prices, thus making establishment of large campuses there unviable. Explains Dr. B.P. Dhaka, COO and spokesperson of Parsvnath Developers Ltd., "With the expressway to Greater Noida offering an uncongested, pollution-free environment with world-class facilities , Noida today boasts of contemporary, efficient, and comprehensive infrastructure".
There are a host of high profile projects that have been planned by the Noida Authority including a world class sports complex with an approximate budget of Rs 50 crores with all facilities like a multipurpose indoor stadium, a stadium for athletics, a football field, cricket stadium, bowling alley and much more. Officials have hinted that Noida might host a couple of events during 2010 Commonwealth Games. Moreover, it will soon have another world class 18-hole golf course costing about Rs 37 crores. The Authority has finally agreed to have it developed over 180 acres in Sector 101 falling in Zone 3 of the Noida Greater Noida Expressway.
At the same time, Greater Noida Industrial Development Authority (GNIDA) is planning to build an IT park in the city to meet the specific infrastructure requirements of the IT industry. The park will be fully integrated, self-contained and designed to offer ready-to-use office space of international quality and social infrastructure for the IT and ITeS industries.
Noida Authority earned a whopping Rs 90 crores from SEZs in the last financial year. The IT SEZs alone promise immense opportunities. The multipurpose SEZs spread over 2,500 acres of land along the expressway are to be divided into industrial, residential, commercial and recreational facilities.
Dr. Dhaka elaborates: "Increasing commercial activity in the area has prompted big companies to open their offices in Noida. Also, a number of manufacturing units have been set up thereby fueling the demand for working professionals". The 9 IT companies, each acquiring 25-acre plots on the Noida-Greater Noida Expressway in Sectors 143 and 144, will constitute the main business area here.
Keeping in view the projected fast development along the expressway, several sub-stations, including two 220 KV stations, have been planned and Rs 500 crores earmarked for the project. "We are also considering setting up of power generation plants solely for the twin cities,." says P. C. Gupta, Deputy Chief Executive Officer, GNIDA. "For providing better connectivity, a mono-rail project on circuitous route via the expressway has been planned at a cost of Rs 3,300 crores. Another rail link from Tuglaqabad to Greater Noida via the expressway is also envisaged, for which Indian Railways has given its approval," he adds.
According to Gupta, a sewer network is being laid in advance along the expressway and a Master Plan 2021 for water and sewer has also been prepared. "Our efforts are to provide infrastructure prior to development," he remarks. Three flyovers are under construction, and are expected to be ready in 10 months. The entire stretch of the expressway will soon be wi-fi enabled. With these massive development plans, the property prospects there are quite bright, I rate it after Gurgaon.
Courtesy Realty plus