There is no chance; even a slight shadow of chance, for property prices to fall in any of the metros like Bangalore, Delhi, Mumbai or any other similar ones. Real estate experts say that this is impossible. Why? Are the builders reluctant to lower the property prices? Read More
Koramangala is an outskirt in Bangalore. It lies on the South-East part of Bangalore. However the Bangalore’s outskirt has been considered as one of the best destinations for both home buyers and investors. The experts, with deep knowledge about real estate industry, point to the close proximity of Koramangala to Bangalore. Read More
Indian realty market will have vast foreign investment, as big as $4-5 billion, predicts global real estate consultancy firm Jones Lang LaSalle. This year many foreign investors will invest heavily in Indian realty market. They will invest specially in top cities like Bangalore, Delhi and Mumbai. Read More
There has been a steady increase in the number of new launches in all the metro-cities of India. However Hyderabad had more number of residential projects launched in the middle and lower housing segment. Nearly 88% of the total home launches are in the low housing segment. In fact, this affordability of the city is what attracts people to the city as well. Read More
Finance Ministry, while commenting on the RBI’s plan over giving new bank licenses, said that the realty firms also should be permitted to run banks. The ministry opined that the Reserve Bank of India (RBI) could allow the real estate firms to own and run private sector banks in India. Read More
There has never been a doubt for anyone about the close relation of Bangalore with the IT and ITeS sectors. This is comparatively great in matters related to office space absorption in the city. The office space absorption always reached heights whenever these sectors have performed well. Read More
Realty and hospital sectors are the most booming sectors in India. Seeing this booming nature, Spice Global has decided to enter into these sectors and give a try on its luck in these sectors.
Spice Global, led by Mr. Bhupendra Kumar Modi, will develop a super specialty hospital at Saket in New Delhi. The 1000- bedded super specialty hospital, Saket City Hospital, is expected to be completed by 2014. Read More
Prospective buyers are happy that their rights will be more protected with the launch of Regulatory Bill. But how far the Bill will be helping the real estate builders remains as a matter of confusion.
Many developers are of the opinion that the Real Estate Regulatory Bill is absolutely ‘one- sided.’ They ask how the bill will help them when it has provision to send the builders to jail in case of delayed delivery of project. They pointed that some of the projects get delayed despite the best- effort of the builder. Read More
Noida Authority loses almost Rs.3000 Cr as many of the real estate developers do not pay their due amounts. Noida Authority found that around 50 developers with default payments.
It was during the BSP government that the system of acquiring land, with a mere 10% payment of the total cost, was introduced. The system was introduced so as to make the city an affordable home- destination. Read More
Disney India initiated and applied the ‘theme home’ concept to the residential market in India. Seeing the increased popularity of the theme, Walt Disney aims to introduce ‘theme home‘ concept in the global market.
Under the theme home concept, popular characters of Disney like Mickey Mouse and Goofy will be promoting the residential projects. You get stunned. Under this new theme, Disney India will provide the builders the right to use Disney characters to promote their residential projects. Read More
It came to the people of Noida and Greater Noida as a matter of gladness as the Authority added two more metro stations in the proposed metro link. The authority officials said that these areas are highly populated and considering this increasing population they have decided to add two more metro stations in the proposed metro line.
Recently there has been a steady increase of population in Noida and Greater Noida. On the Expressways also the population is growing very fast. The proposed metro line, of 29.707 km, will be passing through Sectors Alpha and Delta, Knowledge Park 2, Pari Chowk and other sectors like 32, 51, 83, 101, 143 and 147. Read More
Noida real estate has been flourishing as one of the hotter real estate destinations. This hot nature of Noida real estate would be what makes it a den of land-intruders.
Recently Noida Authority came up with one of the bigger real estate scams in the city. They pointed that this real estate scam happened during the BSP ruling in the state. Some prime lands, approximately 3, 81, 000 sq. m., were leased to some private firms and individuals while BSP govt. was ruling the state. Read More
CREDAI’s national head Mr. Lalit Kumar Jain expressed his doubt over the success of new SEZ policy of MIDC. The apex body of real estate developers said that the policy to develop integrated Industrial Township would not be as successful as it is expected to be. Read More
In a rare case, a Hyderabad – based real estate developer is sued by Wakf Board. The builder is alleged to damage the property of Wakf Board. Wakf Board decided to file a case against the developer.
Wakf Board stated that a real estate developer has encroached the Board’s property at Lakdi-ka-pul where the alleged builder had started constructing his commercial center. Read More
Competition Commission of India (CCI) plans to frame a new agreement between the property buyer and the developer. The new Agreement is designed on the context of DLF Case. CCI hopes that the new agreement will solve out most of the issues existing between the buyer and the developer.
Earlier the commission had fined real estate developer firm DLF for resorting to anti-competitive practices. The real estate firm was proved guilty of abusing its dominant market position. DLF was fined Rs.630 Cr. Read More
Discounts are always considered as suitable means to attract the customers and this is true with the real estate sector as well. The builders attract home buyers through their property discounts. With the property discounts and freebies the property prices have fallen down.
Real estate developers of Indore are offering property discounts and freebies to attract takers. With this purpose, the builders have reduced the property prices besides offering attractive property discounts to them.
Existing downturn in the real estate market has forced builders to offer some discounts in order to attract takers. This is more visible in Indore where the builders offer wide range of freebies and discounts to the property buyers and investors. Read More
India is on the onset of receiving some superior luxury apartments from the hands of Giorgio Armani. The fashion designer from Italy will join his hands with Noida– centered Supertech real estate group for this purpose.
Giorgio Armani aims to give a new height to the luxury real estate regime of India. In collaboration with Supertech, Giorgio Armani will develop some ultra-luxury homes in Noida.
Last year Armani tied up with Mumbai-based Lodha real estate builder Group. This year the Italian designer is collaborating with the Noida-based Supertech. They will jointly develop Armani Tower which will be designed by him. Read More
Delhi real estate will receive some fresh DLF launches.
DLF has sold its Aman Hotel stakes with double purpose. Firstly with the amount the firm will be able to cut off its debt and secondly the firm will be able to begin developing some Delhi real estate projects as well.
Delhi real estate is expected to have some fresh DLF launches within a span of three to four months’ time. This was further firmed when DLF’s Sr. Executive Director Sriram Khattar informed that the firm will begin its Delhi real estate projects sooner. Read More
There has never been any sluggishness in Bangalore real estate market. It could not be present even when the entire country was hit by this. Sadly the real estate boom has paved the way for many unjust means and ways to creep into the Bangalore real estate market. The presence of unregistered real estate brokers remain the main reason.
The way homes are rented, bought or sold tells us how the city is booming. The property prices have shot up by many folds mainly due to the higher flow of middle income group to the city. Read More
With the approval of Land Acquisition Bill, the consent of the land owners has become mandatory for all real estate projects. This bill seldom helps the real estate builders but it certainly helps the farmers. The farmers are empowered in a better way. Read More
Anil Ambani’s Reliance Group has tied up with Dalian Wanda Group. Both the Indian and the Chinese firms will jointly work for two residential projects. One of their real estate projects will be in Mumbai and the other will be in Hyderabad.
Dalian Wanda Group is the largest real estate firm in China. This is the first time a Chinese real estate firm enters the land of India. The land parcels will be provided by Anil Ambani’s Reliance Group. The Chinese Real Estate Firm will have to build up the projects.
The Chinese real estate firm will be constructing and developing the land parcels owned by Reliance India. Their debut joint real estate venture will be in Navi Mumbai. The project will be constructed in the land parcels of Reliance India.
Reliance India has land parcels in both Navi Mumbai and Hyderabad. The groups will be delivering integrated township projects.
They will have their debut project in Dhirubhai Ambani Knowledge City (DAKC) which is located in Navi Mumbai’s Koperkhairane area. It spreads across to over 135 acres. As their primary venture they will develop nearly 10 million sq. ft. space at DAKC owned by Anil Ambani’s Reliance Group.
Property prices of DAKC have received a double fold increase since 2002, the year in which it became operational. However both of the firms did not reveal any financial details of the deal. Some sources predict that the projects will fall in a range between Rs.6000 Cr to Rs.7500 Cr.
This will be the estimated cost for their both projects at Hyderabad and Navi Mumbai. Many real estate experts are of the opinion that India should invite more real estate investment from China. China is the second-largest economy which has enormous surplus to invest.
Ambani’s Reliance MediaWorks is expected to co-operate with the Chinese real estate firm. These two will collaborate in expanding their multiplex business to USA, besides having in India. Wanda Group is the biggest movie theatre owner. The Wanda Group owns US multiplex operator AMC Entertainment. The US multiplex operator AMC Entertainment was bought at a price of $2.6 billion. Somehow this monetizing of real estate land by the reliance is on the other hand is seen as its attempt to pay off its debt.
Sahara groups’ Chairman Subrata Roy stated that the group’s real estate wings have finished refunding. The advertisement was published in one of the leading newspapers.
Sahara advertisement, appeared on December- 9, stated that both Sahara India Real Estate Ltd and Sahara Housing Investment Ltd have given the prescribed amount to SEBI. The advertisement further claimed that the real estate firms have deposited an additional Rs.2500 Cr as well. This additional amount was deposited in view of avoiding all sorts of future embarrassment.
Interestingly the Supreme Court granted Sahara firms more time to refund. As per the latest SC Order the Sahara firms are to pay the amount in three installments. They are given 3 months’ time to refund. The SC order binds Sahara firms to repay the whole amount in installments. They are ordered to finish repayment by February first week.
At the same time a colorful advertisement by the Sahara India Pariwar limited the firms’ liability to Rs.2620 Cr. Some top newspapers printed the advertisement. According to the given advertisement the groups have already cashed majority of OFCDs (Optionally Fully Convertible Debentures). And the remaining debt or liability of the firm is mere Rs.2620 Cr, an amount slightly above 10 % of the tangible fine of Rs.24000 Cr.
Supreme Court had found that many of the OFCD investors were false and dubious. Sahara firms are alleged of gathering investment from nearly three crore investors. These investors are formed from PAN India presence.
Sahara India Pariwar published its provisional financial statement on December 3. This statement showed that the OFCD- repayments were begun in 2008-09. Sahara firms argued through this statement that the firms have nearly cleared off its liability amounting Rs.33,000 Cr. The statement added that a sum of Rs.5120 Cr would be well enough to clear the remaining liability caused by OFCD.
Real estate India expects to be boosted by the new retail FDI policy. There will be an increased demand for retail spaces and it prompts real estate builders to come up with more commercial projects. This will lead to real estate boom in India.
There has been a sharp rise in the commercial real estate prices. This was especially higher in big cities like Mumbai and Delhi. It is noted that quality retail spaces are not available for rent at present. This necessitates construction boom in real estate sector. The entry of foreign multi-brand retailers will boost it all the more. Read More
Real estate builders’ confederation- CREDAI has recently appealed to all members of parliament (MPs) to create consumer friendly real estate reforms. Real estate builders’ apex body requested them to reflect on the vast numbers of stake projects. Read More
Housing Segment fell in 2012by bigger margins. The reports from all the top cities of India show the same, JLL India states. Real estate consultant Jones Lang LaSalle India (JLL) reported that housing segment loses value appreciation in India.
The market in 2012 was highly sluggish especially the real estate market. The period witnessed slow rate of economic growth. Mr. Anuj Puri, Chairman and Country Head at JLL India, said that higher interest rates and poorer industrial productions as reasons for this situation.
