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BONANZA TIMES REAL ESTATE NEWS

Mumbai Port Proposes Real Estate Plan

State-run Mumbai Port Trust has proposed an ambitious real estate development plan for its 1,800 acres of land as a way to revive the fortunes of the 142-year-old ailing port.
Speaking at the 142nd foundation day of Mumbai Port, shipping minister Nitin Gadkari said that a committee has been set up under Rani Jadhav, a former chairperson of the Mumbai Port Trust, to suggest ways to monetize its nearly 1,800 acres.

“We have asked the panel to submit its report in next t


DDA To Hike Interest Rate For Housing Registration Deposits

The Delhi Development Authority (DDA) has decided to pay a simple interest at 8 per cent instead of the current 5 per cent on registration deposits for all its future housing schemes.

The decision was taken at a DDA meeting at Raj Niwas, Delhi on Friday.

The decision was taken in order to \"narrow the gap\" between the interest paid to the allottees and that charged for delayed payments for its housing schemes, the urban body said in a release.

It, however, ad


Own Property In NCR? You May Not Be Allowed A DDA Flat

Own a house in the National Capital Region? You may not be able to apply for a Delhi Development Authority (DDA) flat under its latest housing scheme.

The DDA plans to bar those who own a house in NCR areas such as Gurgaon, Noida, Ghaziabad and Faridabad from applying for a flat under its housing scheme 2014. At present, only those who own property in Delhi are barred from applying in a housing scheme. DDA, however, wants to include house owners in the nearby satellite towns under


Mahindra Group To Launch Affordable Housing Projects In Chennai And Mumbai

The Mahindra Group has forayed into affordable housing through its real estate and infrastructure development arm Mahindra Lifespace DevelopersBSE 1.52 %, which is set to launch two projects in Chennai and Mumbai Metropolitan Region in the next two months.

The projects, which will be launched through the developer\'s new business vertical called Happinest, will target families with total monthly income of up to Rs 40,000. The company is planning to build one-two bedroom houses spre


Spin TV - A Real Estate Based Channel To Launch Soon

Looking at investing in real estate? Well, now rely not only on a half an hour real estate based show on some channel, but tune into a real estate channel. Christened Spin TV, the soon to be launched free to air (FTA) channel will be headquartered in Mumbai, showcasing the real estate industry and its related topic based programmes.  The channel will be launched by Optimmus Media Network India, and has been conceived by its CEO Manish Rachh.
 
Spin TV will not only provide


NRI Alert - Do Research Before Buying Property In India

Non-resident Indians (NRIs) need to be vigilant and do their research before buying a property in India, says the exhibitor of a property show.

“One looking to buy a property in India must do his research well before investing in a property though the chances of being ripped off are much lower these days,” Sunil Jaiswal, CEO, Sumansa Exhibitions, organiser’s of Indian Property Show, told Emirates 24|7.

“You have the internet, you can do your resear


Super Rich Indians Invest Half Their Money In Real Estate

The super rich Indians are investing heavily in real estate, according to a Knight Franks Research report. Where the global average is just 24 percent, it is 44 per in the country.

 


“Many wealthy Indians hold a large proportion of their wealth in real estate as there is a belief that the price will never go down,” said Balamurugan, Co-Founder and


Open House - A New Concept In Indian Real Estate

The concept of Open house has been quite niche in terms of being known to customers who plan to buy homes for future investments. Though it has been a prevalent concept, however, it has been never been used as a concept on sites to promote projects. In this concept, people are shown a fully furnished home which is put on sale, this will enable others to make the right decision with their investment in real estate.

The Indian real estate industry hasn’


Future Of Real Estate In Hyderabad And Telangana Region After The Formation Of New Telangana State

With the passing of Andhra Pradesh Reorganization bill on 18th Feb 2014, Telangana is all set to become the 29th state in the country.  It was a forgone conclusion that the new state will be formed, after the Congress Working Committee resolved in July 2013, to proceed with the division of the state. 

To get political mileage and votes, it was essential for the Congress to push through the bill before the upcoming Ge


If You Think Modi Will Become PM, Better To Buy Property Now

If you are looking to buy property but waiting in the wings in the hope that sentiment will improve post elections, think again. For the real estate market today is at its worst with launches and absorption levels near 2009 levels, when the global financial crisis had crippled the realty industry and builders were literally at the mercy of buyers and lenders.

According to India’s first real estate sentiment index prepared by industry b


Residential Market Expected To Witness Healthy Activity In 2014

The slowdown in the Indian economy continued as the Reserve Bank of India revised the real GDP growth rate forecast for 2013-14 downwards to 5.0% from 5.7%. Economic slowdown has had an impact on the end user sentiments that has impacted the absorption of residential units ultimately leading to a slowdown in the values.

The strong headwinds that the domestic economy has been facing since the last year due to structural issues like high fiscal and current account deficits, and d


Gujarat Realty On Eve Of Elections

If regulatory changes have been a cause of concern for the developers in the Gujarat real estate market, the political uncertainty prior to the general elections definitely threatens to prolong the slump in the realty market. Elections and real estate have a symbiotic relationship where elections bring a kind of stasis that is unproductive.

The business that is too dependent on the power corridors for each and every clearances and NOCs is always conscious of the paradigm shift


Fancy Things That Your Real Estate Agent Might Tell You

When investing in a real estate property, a real estate agent might prove to be a really valuable asset. However, if you don\'t keep your eyes and ears open, you might end up ruining your investment. Ankit is a regular investor in the real estate industry and has been buying properties for some time now.

Things weren\'t always good for him as he once fell for some fancy claims made by a real estate agent and ended up losing a huge sum of money. However, he now knows that even th


Maharashtra Housing Regulation Act - Scope And Potential

The introduction of the Maharashtra Housing (Regulation and Promotion of Construction, Sale, Management and Transfer) Act can potentially have a very positive impact. It is certainly a concept whose time has come.

The biggest advantage that it offers to buyers as industry stakeholders is that there will be an arbitrating body available to attend to their grievances and redressals. There has to be accountability at all levels of the approval process, and it ne


Slow Economy - Advantage Real Estate Investors

The Indian economy has had another tough year. Inflation went as high as 7.52%, job opportunities reduced significantly across industries, the rupee saw steady erosion against the US dollar and market sentiments reached what was possibly their lowest point ever. And yet, things could be worse.

During the depths of the US economic crisis, entire American cities turned into ghost towns. Thousands and thousands of people lost their jobs and were reduced to living in tent colonies, tr


India`s Residential Real Estate - An Outlook For 2014

Residential real estate remains the focal point of Indian real estate, regardless of the market conditions. Considering the massive demand for homes in the country, this is hardly surprising. However, the demand does not equal absorption in a price-sensitive country like India, where the greatest requirement for residential properties stems from the EWS and middle-income group. The high dependence on home loans by the salaried class underscores the price sensitivity factor even further.


Operation Township

Till recently, buying a property called for some painful compromises. Budget restrictions meant you could only buy in specific residential areas, regardless of whether there were educational institutions, playgrounds, hospitals, shopping centres, connectivity to your place of work, or entertainment hubs in the vicinity, apart from availability and reliability of utilities like power and water. Real estate players were quick to recognise this and come up with a creative solution—township


Piramal Private Equity Closes Rs 1000 Cr Realty Fund

The Piramals-backed private equity fund, focused on realty sector, today said it has finished raising a Rs 1,000-crore fund and has already committed Rs 250 crore from the corpus in three projects.

Indiareit Fund Advisors\' Domestic Scheme V achieved its basic fund size of Rs 750 crore last November and touched the target, including the green-shoe option of Rs 1,000 crore in December, it said in a statement.

It claimed that there were over subscriptions of Rs 100 crore


Residential Demand In Kharghar & Its Neighbouring Places

one of the most well planned nodes of Navi Mumbai is a developing residential as well as commercial micro market in Raigad district of Maharashtra. It is developed by CIDCO and has 45 sectors. Its proximity to the Belapur CBD, along with its good connectivity, green surroundings and infrastructure developments like wide roads, skywalks, Central Park, Golf Course etc. are some of the factors that have led to growth and high residential demand in Kharghar.

It is known to be the thir


Real Estate Prices May Not Come Down In 2014

Construction cost has increased by 40% in two years, while taxes have also gone up. This eliminates any scope for reducing prices, says CREDAI Chairman Lalit Jain.

The Indian real estate sector continues to be a favoured destination for global investors. The urban population will surge in the coming years, which, coupled with growth in employment, education and health care, will push the demand for residential and commercial space.

Urbanisation has been rapid in the pa


CREDAI Threatens Strike Over RR Rates

The Confederation of Real Estate Developers’ Association of India (CREDAI) on Friday urged the state government to roll back the increase in the ready reckoner (RR) rates and warned of going on strike if it did not revise the RR rates immediately.

A CREDAI delegation will meet the chief minister Prithviraj Chavan on Saturday during his visit to Nashik and will submit a memorandum seeking rollback in the RR rates. The association has also decided to meet the state revenue min


Tata Housing Launches Rs 2000 - Crore Luxury Project In Mumbai

Tata Group realty firm Tata Housing Development on Wednesday launched a luxury residential project in Mumbai\'s northeastern suburb of Mulund.

The project - named Gateway Towers - is spread across 8.5 acres and is a part of the 19-acre redevelopment project.

\"We have invested around Rs. 2,000 crore for the entire redevelopment project across 19 acres, out of which the saleable component would be around 8.5 acres, where we will be developing six luxury residential towe


Lodha Group Set To Launch 2nd Phase Of Mega City Project In Mumbai

Leading estate developer Lodha Group today said it will launch the second phase of its mega city project \'Palava\' on Saturday.

The Mumbai-based realtor is developing \'Palava\', a mega city in Dombivli, a suburb of Mumbai located in Thane district.

The entire project, spread over 5,000 acres, is to be completed in four phases by 2025. The second phase consists of 800 buildings and is slated be completed in the next 5 years.

\"The second phase, spread acro


Shopping Mall Space Supply To More Than Double In 2014

Supply of retail space in shopping malls is expected to more than double in 2014 to 11.7 million square feet in the top seven cities of the country compared to last year, according to a report by property consultant JLL.

During 2013, these 7 cities - Bangalore, Chennai, Delhi-NCR, Kolkata, Hyderabad, Mumbai and Pune - logged an estimated supply of around 5.2 million square feet, taking the total shopping mall stock to 76 million square feet (sq ft).

According to Jones


Bengal Passes Bill To Prevent Use Of Excess Land For Real Estate

The West Bengal Assembly on Friday, Nov 30, passed the Land Reforms (Amendment) Bill, 2013 which would prevent use of land, earmarked for township development, in excess of the prescribed ceiling for real estate purpose.

The Bill was passed in the absence of opposition Left Front and Congress.

Moving the bill in the House, Minister of State for Land and Land Reforms Department Swapan Debnath said that the amend


Office Space Sales Could Improve Next Year

The commercial real estate market has been down in the dumps for a very long time. Slower economic growth has led to an overall decline in expansion by companies which have resulted in falling demand for office space in the past two years. But the next year could well see an upswing, thanks to some recent developments.

Real estate consultancy Cushman & Wakefield (C&W) expects the absorption rates to improve in the top eight cities for the next four years - from 22.55 millio


Approvals Biggest Building Block To Unlock Potential Of Gujarat Realty

Gujarat real estate has seen phenomenal growth in the last over a decade and property markets of Ahmedabad and Vadodara are among the most sought after hot spots. The growth story, however, would be incomplete without understanding the stress level of the sector which weathers multiple challenges to perform, with approvals being the biggest challenge.

And hence, to say that Gujarat realty has picked up momentum would be an under-statement for the t


Onion Tears In The Indian Residential Sector

The whole country was recently abuzz when the price of onions (one of the most essential staples of the Indian diet) rose above the price limit of INR 100 per kg (that’s nearly USD 0.75 per pound) in the country’s capital and surrounding areas. The reasons for this were a crop affected by unseasonal rains and hoarding by suppliers and a few large farmers to create an artificial supply shortfall. This story finds a parallel in the country’s residential sector.

Thi


Gurgaon High-Rise Owners Asked To Submit Report On Safety Measures

In a bid to enhance disaster preparedness, owners of high-rise structures and hazardous industries in Haryana’s Gurgaon district will be asked to submit a compliance report on safety measures to the district authority within two months.

“The owners will have to submit a compliance report on safety measures to be adopted as per guidelines of the state government issued from time to time on their premises within two months to District Revenue Officer T


Prices Of Residential Property In Mumbai Drop Nearly 10% Over The Past Three Quarters

The residential property market in Mumbai is turning in favour of buyers with inventory levels rising and prices weakening. Residential property prices in some south and central Mumbai locations such as Parel, Lower Parel and Mahalaxmi have declined nearly 10% over the previous three quarters with the increase in the number of unsold homes and prospective buyers reluctant to exceed budgets amid a slump, said property consultancy Knight Frank India.

Developers have been open


Final Guidelines On REITs To Be Issued Shortly : Mayaram

The final guidelines on the proposed real estate investment trusts (REITS), which help the fund- starved realty sector with long-term funds, will be issued soon, Economic Affairs Secretary Arvind Mayaram said today.

\"We are very actively looking at announcing the final guidelines for REITs...there is now a concerted effort on thepart of the government and the regulators on this and we believe that in this rapidly changing environment, credit rating agencies will have to pl


Home Prices Rise In 12 Cities Despite Weak Growth: Survey

Home prices rose in nearly half of 26 cities in the three months to September, a report from a state-run bank showed on Thursday, indicating investors\' confidence in the sector despite weak economic growth.

The figure compares with price rises in only four cities in the previous quarter from April to June.

Home prices in large Indian cities have continued to set records, unaffected by the weakest economic growth in years and by several interest rate rises by the centr


Real Estate: Delivery Delayed, Resale Looks Better

Home buyers looking to settle in their dream home this year, have to wait longer. Studies show that for the year 2013, developers on an average would be able to deliver only a third or even less of the units they had committed for this year.

The performance of the National Capital Region has been the worst across major cities. Data from PropEquity, a real estate research firm says that only 21,371 residential units have been delivered until July, out of a promised 91,558 units, a rate


Haryana Government Rationalises Property Tax

The Haryana government on Friday rationalised Property Tax rates in areas under municipal corporations.

A decision to this effect was taken at a meeting of the state cabinet presided over by Chief Minister Bhupinder Singh Hooda here.

A government spokesman said the cabinet approved the recommendations made by a three-member committee headed by Parliamentary Affairs minister Randeep Surjewala on rationalisation of property tax in municipali


As Real Estate Developers Struggle To Deliver, Home Buyers Step Up Protests

Annoyed with the delays in handing over properties and deficiencies in services, home buyers are protesting against real estate developers either through marches or through the social media.

In the past six months, several leading developers such as DLF, Unitech, Oberoi Realty and Supertech have been at the receiving end of the buyers’ wrath.

One such protest, which began in the Delhi-NCR region, is now spreading to cities suc


Uttar Pradesh Ranks Highest In New Investments In Real Estate Sector

Akhilesh Yadav ruled Uttar Pradesh has been ranked top with maximum share of about 40 per cent in the new investments attracted by real estate sector among top 20 states across the country during the first quarter of current fiscal, industry body ASSOCHAM said today.

Interestingly, the total new investments in real estate sector across the country had dipped by over 50 per cent during the course of past one year.

The top 20 states of India had attracted new investments wo


DDA Looks To Redefine Yamuna River Front To Exclude Illegal Colonies

With an aim to redefine the boundaries of the Yamuna river front, which is spread over 8,070 hectares, the Delhi Development Authority (DDA) has invited suggestions and objections from the public on a proposal which will essentially shrink the zone by almost half.

Once the proposal comes into force, colonies such as Sonia Vihar, Meethapur, etc., which are located on the river front, will be excluded from this zone and given a legal tag.

Such areas will be taken out of Zone-O i


Real Estate Bill to come up in Parliament

New Delhi: The government is all set to introduce a buyer-friendly real estate legislation which aims to protect consumers and bring transparency in the sector in the Monsoon Session of Parliament.

\"We will will be introducing the Real Estate (Regulation and Development) Bill, 2013, which is very relevant to real sector in the Monsoon Session,\" said Housing and Urban Poverty Alleviation Minister Girija Vyas here Wednesday.

She said the Bill has been approved by t


29% Of Mumbai Upcoming Realty Above Rs 1cr - Knight Frank

According to Knight Frank, among the various segments of the real estate market, office, retail and hospitality are relatively more prone to the vagaries of the macro-economic situation as compared to the residential segment.

Recovery of the Indian economy has once again come under cloud with key economic indicators like Current Account Deficit (CAD) and consumer inflation remaining above the comfort level of the Reserve Bank of India (RBI). While CAD reached a high of 6.7 percent


Urban Youth Prefer To Invest In Real Estate - Survey

New Delhi: Real estate seems to be the hottest investment instrument for urban youth in India, with a whopping 85 percent of those surveyed inclined to put their money into immoveables on hopes of higher and guaranteed returns.

\"Over 85 percent of urban working class prefer to invest in real estate saying it is likely to fetch them guaranteed and higher returns,\" says a survey conducted by industry body Assocham.

Those surveyed also said they cautiously stay off from


Real Estate Spurs New Gang War In East UP

The crime scene in east UP region has undergone a paradigm shift. After coal, railway scrap and extortion trade, it is the turn of real estate business to be targeted by the gangsters of this region.<br /><br />

The region\'s underworld history shows that though mafia don Brijesh Singh entered the crime world in the name of avenging the killing of his father in 1984, after earning notoriety by 1989 he had also succeeded in maintaining a monopoly in the coal trade. It wa


Indians Among Top Five Countries Buying Properties In The US

Washington: Indian are among the top five foreign nationals buying real estate in United States, even as there has been a decline in foreigners acquiring properties in the US, a report has said.

According to the \"2013 Profile of International Home Buying Activity\" for the 12 months period ending March 2013, realtors reported purchases from 68 countries, but five have historically accounted for the bulk of purchases; Canada (23 per cent), China (12 per cent), Mexico (8 per


The Dynamics of Luxury Housing in India.

In India’s largest cities – namely Mumbai, Delhi NCR and Bangalore – luxury and ultra-luxury residential projects have witnessed ten-fold appreciation over their launch prices over the last decade, implying more than 100% annual returns on investment.

Most of these projects saw encouraging pre-sale activity and were sold out completely very quickly. In fact, demand for luxury and ultra-luxury housing in cities like Gurgaon has always outpaced supply, which has encour


India's 3 Hottest Cities for Luxury Housing Investment

According to a recent report by Knight Frank, Bangalore retains the tag of affordable housing market with 77 percent of its total under construction units priced below 5 million.

Unlike other cities, Bangalore’s realty market offers variety of property options to fulfill buyer’s requirement. The vibrant nature of Bangalore’s real estate market and the stable property prices make the city one of the leading real estate markets in India. The city’s real estate se


Dissecting the Role of Real Estate Regulator in India

The Central Government Cabinet approved the Real Estate (Regulation & Development) Bill on 5 June 2013. The aim of the bill is to create a Real Estate Regulatory Authority and an Appellate Tribunal that will act as a watchdog for the housing sector, primarily towards protecting consumer interests while creating an alternative redress mechanism for any disputes that may arise.

The bill demands greater disclosure from the developer community and a higher level of project accountabil


Mumbai real estate market most unaffordable

Mumbai\'s real estate market continues to be the most unaffordable with 29 per cent of the city\'s under-construction units priced at over Rs. 1 crore, real estate consultancy firm Knight Frank said in a report.

This is against 11 per cent and 5 per cent for the National Capital Region and Bengaluru markets respectively, the report said.

\"Incessant price rise and higher concentration of premium projects with a ticket size of more than Rs. 1 crore in new launches hav


Is Resale Residential Property A Better Option - II

There are certain precautions one must take in documentation when going for a resale property. Om Ahuja, CEO–Residential Services, Jones Lang LaSalle India says all the documents that are applicable for a primary residential property sale would be required for a clear resale flat transaction, as well. The seller should be able to produce all original documents.

“The buyer should establish the existence of a proper Society. The original sales deed and the Society share


Chennai Residential Real Estate Report To Remain Firm

Property prices in Chennai is expected to remain firm with upward bias in growth corridors, says a recent report by ASK Property Investment Advisors the real-estate private equity arm of ASK Group.

\"The growth of auto hub and growth of IT/ITeS and BFSI industry has defined the growth of Chennai in last decade and will continue to drive migration and need for houses. Chennai which accounts for major share of US $ 185 bn investments in the State will lead to steady growth in jobs a


Brokers Excuse - Many Go Online To Look For Homes

Avaricious brokers and argumentative middlemen can take a walk: Prospective tenants are logging on to find houses the easy way.

An increasing number of portals and social media pages for \'house hunting\' has made it relatively hassle-free for people migrating to the city to find a place on rent. With no interference of brokers, many house hunters are able to choose from a variety of locations, type of house, facilities, proximity to work place. What\'s more, direct negotiation wi


Union Cabinet Approves Real Estate Regulatory Bill

New Delhi: A Bill providing for setting up a regulator for the real estate sector and having provisions like a jail term of up to three years for developers who make offences like putting up misleading advertisements about projects repeatedly was approved by the government Tuesday.

The Real Estate (Regulation and Development) Bill, approved by the cabinet, seeks to provide a uniform regulatory environment to the sector.

It also intends to make it mandatory for develope


Mumbai Residential Property Appreciation 66% in Four Years

In the Indian city which has for years carried the unwholesome reputation of being the most over-priced in terms of residential real estate valuations, there is no relief in sight for aspiring home buyers. Over the last four years, property valuations in the financial capital have increased by an average of 66%. All ‘expert’ predictions over the last 3 years of an imminent correction have proved to be wrong.

It is true that going by all known market dynamics, a c


Bangalore realty market more positive

BANGALORE: With a new stable government looking to address some problems of the previous one, and with interest rates falling, Bangalore\'s real estate market is looking more positive for buyers and investors than it has been in a while. Given that property prices here have been relatively stable in the past few years also makes it quite attractive.

Irfan Razack, chairman and managing director, Prestige Group, says the mood among investors is positive. \"What reall


Integrated Townships In Pune.

Townships are an idea whose time has undoubtedly returned. In Pune, patrons are currently hospitable residential property solutions that permit them to avoid or cut back the impact of the city’s challenged infrastructure.

The benefits

Integrated townships are, by nature, independent and independent in most civic and social infrastructure aspects, associated are patronized by an up-market phase of property patrons.

For these reasons, they conjoint


Kundli Real Estate - A Good Long-Term Investment

The real estate market at Kundli within the Sonipat District of Haryana holds nice future potential thanks to many current and planned developments like the Kundli–Manesar–Palwal or KMP thruway, the Rs. 5000 large integer Rajiv Gandhi Education town at Sonipat, the 100-metre-wide road from the IGI aerodrome to Narela, improved rail property (Kundli is planned to possess a tube stop as a part of speedy rail transport system), a planned provision park, a textile park, etc.Moreover,


Things improving for real estate

Since the sub-prime collapse of 2008, there are continual questions about India\'s land sector. Within the past 3 years, listed Indian land firms had terribly poor returns. The $64000 estate business has seen a money crunch, partly as a result of the run batted in raised prudent norms. Comes have stalled. Mortgage off take has slowed. There’s business area to spare. However, land costs haven\'t fallen abundant. Nor has there been a really sizable amount of mortgage defaults.

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What Is The Future Of Residential Real Estate

With gold costs presently on the descent, several investors are asking themselves if residential land costs can follow. Gold and land are the 2 primary investment routes for retail investors in Asian country, thus this can be positively a sound question to raise.

The performance of residential property as associate quality category is doubtlessly enthusiastic about the macro-economic factors that additionally dictate the performance of different quality categories, together with gold.


Office absorption drops 37% in Q1 of 2013

Workplace markets in Republic of India registered a downward trend in absorption in step with the most recent report by world property consultants, Cushman & Wakefield.

The total web absorption across high eight cities was noted at three.6 million sq. feet (msf) within the half-moon of 2013 that denoted a decline of thirty seventh compared to a similar quarter last year. City and Madras saw a big decline in web absorption levels followed by Bombay and Hyderabad.

Sa


Will Residential Real Estate Suffer Same Fate As Gold?

With gold prices currently on the descent, many investors are asking themselves if residential real estate prices will follow. Gold and real estate are the two primary investment routes for retail investors in India, so this is definitely a valid question to ask. The performance of residential real estate as an asset class is doubtlessly dependent on the macro-economic factors that also dictate the performance of other asset classes, including gold. Nevertheless, the correlation between gold


SEZs Reforms a Boon to Real Estate

In a landmark move that will have wide-ranging implications for commercial real estate in India, the Government has done away with the mandatory requirement of 10 hectares of minimum land area for setting up an IT/ITES SEZ.

With immediate effect, the minimum built-up area requirements to be met by SEZ developers will be 100,000 square meters for the seven major cities, 50,000 square meters for Category B cities and only 25,000 square meters for the remaining cities.

The f


Out of Town Retail. The Viability of Value

Selling off the damaged or out-dated products has always been a nerve-wrecking task for retailers. However, they can liquefy their obsolete products on discounts to consumers who want to get branded stuff at reasonable rates. Retail companies can offload factory surplus stock at discreet stores located on highways and city outskirts.

Big hypermarkets, cash-and-carry outlets, furniture dealers and designer wear stores often cannot find sufficiently large retail spaces within the c


Compact Comfort The Enduring Studio Apartment.

Technically, studio apartments comprise of single large rooms that encompass the bedroom, living and dining areas, with compact kitchens and bathrooms attached. When they first made their appearance on the Indian residential landscape, studio apartments found favour largely with bachelors and small families who spend most of their time at work.

Even today, the demand for studio apartments comes primarily from software professionals and executives from the manufacturing sector. Such pr


Oversupply of retail space hits rents in South India

A difference between demand for retail space and supply is growing worse in the south of India, with a projected increase of 100% by 2014, as developers continue to build malls in a saturated market. Bangalore for instance will have 27.602 million square feet of operating space — an oversupply of 141% over the next two years. Similarly, Hyderabad will have 18.853 million sq ft of mall space leading to a potential 114% oversupply by 2014.

South India has about 50 million sq ft of


The Senior or Assisted Living Sector in India

The concept of homes for aged has undergone a sea-change, with the name itself now being senior living or assisted living. The services offered include fulfilling the social, security, healthcare, administrative, food and other requirements – including understanding what the requirements of a 60-year-old person are as against those of a 70-year-old.

In fact, the entire structure of senior living today is designed keeping in mind the requirement of seniors. The layouts of units,


Integrated Townships In India Today And Tomorrow

 

By now, there is little doubt that integrated townships are the format of the future when it comes to city development.

What Are Integrated Townships?

They are clusters of housing and commercial businesses with associated infrastructure such as roads, schools, hospitals, convenience shopping, water treatment plants, and drainage and sewage facilities. With urban areas getting more crowded and falling increasingly short on future development pote


India Office Real Estate: A Tale Of The Suburbs

India is rapidly urbanizing and the skylines of the country’s metropolises are changing quickly with the building of skyscrapers and modern architecture. The smaller towns too are metamorphosing in unprecedented ways through the expansion of transportation networks, the creation of central districts and parks and by numerous residential projects.

Many cities have been transformed and Ahmedabad is most illustrative of them. Even before the metro rail link between Ahmedabad a


Real Estate In India: How Real Is The Hype

Metropolitan cities in India are fast becoming a hub of industrial parks, high rises, residential complexes, sprawling malls and huge commercial complexes, which are gradually but steadily transforming their skyline. If you are commuting on the busy and packed streets of Delhi, Mumbai, Bangalore, Hyderabad, Kolkata or any other tier I city, you will come across brightly colored cranes, rubble, construction and hordes of workers scurrying up and down the towering skyscrapers. This surely urges


Godrej Properties Inks JV To Develop 1.5 Million Sq Ft Residential Project In Pune

MUMBAI: Godrej Properties, the real estate development arm of the Godrej Group, has entered into a partnership to develop a 1.5-million-sq-ft residential project at Undri in Pune, the company said in a release.

The proposed housing project near NIBM in Pune will be spread over 31 acres and comprise of 1, 2 and 3 BHK apartments. Godrej PropertiesBSE -1.19 % will be entitled to 40% of the profits from the project.

Godrej Properties has built a number of properties in Pun


Realtor Body Against Budget Proposal Of 1% TDS On Property Deals

MUMBAI, BANGALORE: Confederation of Real Estate Developer\'s Associations of India (CREDAI), has sought withdrawal of Budget proposal to levy 1% tax deducted at source on any property deal other than agriculture land.

In a recent representation sent to the finance ministry, the realtors\' body has argued that implementation of this proposal will lead to more complexities and harassment of consumers. \"We are seeking withdrawal of this proposal completely. This will lead to harassm


India ranked 20 among global real estate market

BANGALORE: India ranked 20th among the top 20 real estate investment markets globally with investment volume of $ 3466 million recorded in 2012,\" said Cushman & Wakefield in its latest report International Investment Atlas.

As per the report, majority of the investment in India were through institutional sales (67%) while remaining were through private equity (PE) investments (33%). The market witnessed institutional sales


Real Estate Is The Best Bet For Investors

In January 2008, Preeti Khare, a young information technology professional, decided to buy an apartment in Gurgaon. Now, if she decides to sell the house, priced at Rs 64 lakh five years ago, it would fetch her at least Rs 1.8 crore, a return of 182 per cent. Preeti is thrilled at the fact that she chose real estate over other investment options such as gold and stocks.

If she had invested in a blue-chip stock five years ago, she might have been disappointed. Estimates show many o


Chidambarams Budget Is Missed Opportunity For Growth : Realtors

The budget 2013-14 was \"missing the opportunity for growth\" and lacked focus on affordable and rental housing and banking reforms, the Confederation of Real Estate Developers Associations of India (CREDAI) said on Thursday.

It gave the thumbs up, however, to the proposal for home loan interest incentives for sub-Rs25 lakh buyers, though more was expected, according to CREDAI president Lalit Kumar Jain.


Budget 2013 Can Improve Real Estate Sentiment

MUMBAI: Indian real estate, a vital sector of the Indian economy that contributes significantly to the Indian GDP, has started to show some signs of recovery and optimism in the sector is slowly returning. Some of the issues faced by this sector include uncertain global headwinds, high inflation rates, subdued retail demand, high interest rates coupled with credit crunch, challenges associated with land acquisitions, stamp duty costs, non-sta


N-E Delhites Can Get Property Registered On The Same Day

New Delhi: People in North-East Delhi will now be able to get their properties registered on the same day of filing of application under an online registration system.

The new online registration was launched on Wednesday at newly renovated sub registrar office in Vivek Vihar. It is the third such sub-registrar office to have online registration facility.

The ambitious project was launched by the Delhi government last year to contain irregularities in


Noida Extension Flats: Cancellation Stayed

GREATER NOIDA: Offering relief to the distressed home buyers of the Greater Noida West area (Noida Extension), who have been running from pillar to post for help following cancellation of their bookings, National Consumer Dispute Redressal Commission has stayed the cancellation of over hundred such flats.

Led by the buyers’ umbrella body, Noida Extension Flat Owners Welfare Association, around 47 buyers had approached the commission earlier last month agains


Hyderabad Is The World's Second Most Affordable Office Market.

BANGALORE: Hyderabad is the world\'s second most affordable office market after Surabaya in Indonesia, according to a survey, while Chennai and Pune are at fifth and sixth positions, reinforcing India\'s reputation as among the cheapest destinations for foreign firms to set up operations.

\"Tier II cities in China and India continue to dominate the list of top-10 most affordable markets globally,\" said a survey by consultancy firm DTZ, which measured occupancy costs


Real Estate Sector Seeks Lower Finance Costs

PUNE: The country\'s real estate players are hoping that the finance minister\'s budget provisions, to be announced on February 28, will bring down the costs of finance for the construction sector, which they insist will play a major role in offering lower rates for their product.

Also on the real estate developers\' wish list is a sustained structure of governance for the sector and introduction of methods to reduce the time taken to obtain th


Mumbai Office Real Estate Market - 2012 Analysis And 2013

A Review of 2012
Mumbai office real estate saw absorption of 6.6 million square feet – down from 9.6 million square feet in 2011, reflecting a combination of lukewarm economic growth, lower employment generation and an overall decline in corporate buoyancy. Transaction activity from the BFSI sector was down, with many banks focusing on workplace strategies to drive a more intense use of existing space.

Sectors like Pharma and Media continued


Government Plans Real Estate Regulatory Authority

GURGAON/CHANDIGARH: The Haryana government is working towards setting up a Real Estate Regulatory Authority to regulate the booming real estate sector and prevent unscrupulous realtors from targeting property buyers. The state government is planning to bring a bill to set up the authority in the coming budget session sched


13 Insights For India Real Estate In 2013

The year 2012 closed with a few notes of positivity as the inflation was below the Reserve Bank of India’s (RBI’s) projected levels and the Index of Industrial Production (IIP) growth increased in the last two months of the year, giving new hopes for 2013.

Overall, 2012 remained inactive, affecting all the major sectors in real estate. Office space absorption remained lower compared with 2011. Meanwhile, retail faced challenges of quality supply, affecting the overall


Builders Oppose Real Estate Regulatory Bill

New Delhi: Realty industry bodies CREDAI and NAREDCO today opposed the government\'s proposed real estate regulatory law saying that the bill in the current form is not practical and only favours property buyers.

Minister of Urban Development Kamal Nath and Minister for Housing and Urban Poverty Alleviation (HUPA) Ajay Maken today called a meeting of six industry chambers -- CREDAI, NAREDCO, CII, Ficci, Assocham and PHDCCI -- to discuss the draft bill.


Property Registrations Go Up In City Ahead Of Revision Of Rates

HYDERABAD: As land rates (government value) are set to be revised from April 1, 2013 and metro rail work is progressing at a brisk pace, there is a spurt in property registrations in the city, especially in areas where the metro corridors are passing through like L B Nagar, Uppal and Miyapur.

Registrations and Stamps (R&S) department officials expect property registrations to pick up further after January 15. Last week, the chief minister directed the R&S


Stamp Duty For Land Registration To Go Up

HYDERABAD: From April 1, 2013, people who register their properties with the stamps and registrations department have to cough up more charges. This is because chief minister N Kiran Kumar Reddy on Saturday cleared the proposal to increase market land value for registration of properties.

The chief minister also directed the stamps and registration department to reduce the registration charges including transfer of duty. For the first time, the rationalization wou


Unauthorised Plots Bought Till 2007 May Get Approval

CHENNAI: There\'s relief on the way for people who have bought plots in unapproved residential layouts. If the state government has its way, all residential plots registered before July 1, 2007 will be given approval after levying a penalty, as has been done in the case of illegal buildings.

Following a proposal from the Chennai Metropolitan Development Authority (CMDA), the government is contemplating relaxing norms for approval of unauthorized layouts that have


Mumbai, Delhi NCR And 6 Other Cities To Remain Favored Real Estate Investment Destination In 2013

MUMBAI: I want to buy a property this year\' is likely to be one of the key resolutions of many Indians in 2013. And, not necessarily for living in that house, but also for investment purposes. After all, property, along with gold and fixed deposits, continues to maintain its stronghold over the average Indian investor\'s psyche. For many investors, the allure of real estate has not dimmed, despite the slump the sector witnessed in 2012.

\"With property options ra


Comprehensive Infra Plan Needed In Suburbs, Say Experts

The suburbs will have to wait a while before they catch up with the city when it comes to having reasonably priced civic amenities, say urban planners.

\"Now, residential projects are coming up in the Outer Ring Road project areas,\" says K P Subramanian, former professor at Anna University’s urban engineering department. Projects have been announced before the land acquisition was complete, he adds. \"Most of these areas, including Oragadam and Sriperumbudur, don\'t have wa


Transactions Documents Mandatory To Prevent Land Grabbing

With an aim to prevent land grabbing incidents, documents relating to power of attorney and sale agreement of property would be made mandatory in Tamil Nadu from December.

President Pranab Mukherjee has given his assent to an amendment in this regard by the Tamil Nadu government, an official release said here today.

\"It is felt that the root cause of land grabbing and bogus registration is due to the fact that registration of documents of power of attorney, sale agree


Increase In Circle Rates Good Or A Huge Dampener To The Realty Sector

The increase in circle rates came as a huge dampener to the realty sector in 2012. But what is the real implication of this raise for homebuyers: is it a curse all the way or could it be a blessing in disguise.

Real estate properties are registered at circle rates. Circle rates were introduced in July 2007 only and the capital was divided into eight categories. This is the minimum valuation at which properties are registered with the government.

Recently, the circle ra


Mumbai Cops Can Rent A House, Own It Later

If Maharashtra government has its way, some police constables may soon get residential quarters in India’s costliest city of Mumbai, only to get ownership at the time of retirement. In the first of such an experiment in the country, the Maharashtra government may partner with Hudco for securing 90% of the project cost as loan, a part of which will be repaid as EMIs by the occupants, an official privy to the matter said.

Hudco chairman VP Baligar confirmed, \"If this model wo


Download Registered Papers Of Mumbai Properties Now

The process of buying and renting property in Mumbai has just got a lot simpler. As part of its e-governance initiative, the Maharashtra government on Thursday launched an internet facility that allows citizens to download registered property documents.

With the introduction of the service, citizens no longer have to depend on real estate agents or make multiple trips to registration offices to procure certified hard copies of property transactions. It also reduces possibilities o


Increased Ready Reckoner Rate To Impact Housing Demand

Maharashtra government\'s decision to increase the ready reckoner (RR) rates in the city will impact the housing demand as it will raise stamp duty, according to real estate consultancy firm Jone Lang LaSalle (JLL).

The state government has recently hiked RR rates for both residential and commercial properties in the city, ranging from 5-30 per cent, with effect from January 1. RR is used to calculate the market value of a property for stamp duty and registration charges. Therefor


Buying A House In Maharashtra May Get Costlier

The Maharashtra government is set to increase ready reckoner (RR) rates for properties between 5% and 30%, depending on the size and location in Mumbai and the rest of Maharashtra. The rise comes at a time when the residential market, especially in Mumbai, has been sluggish for almost all of 2012 due to unaffordable property prices. However, no major price correction happened as developers cited slower civic approvals which affected supply. Rise in input costs also hurt business. Recently, pr


Demand For Homes Likely To Remain Stable

Demand for residential realty in the city is likely to be stable during the year, but the slow pace of absorption of stock may bring down the number of new launches and prices may stagnate.

This is amid a GDP growth decline from 9.3% to 6.5%, which has crippled the residential sector across the country, with the number of launches declining 30% in 2012 compared to 7% in 2011 and banks\' credit exposure to developers falling from 23.21% to a mere 3.88%, experts have pointed out.
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