Real estate

Jun 30, 2008 at 14:19 o\clock

How to Sell Your Home in a Slow Market

by: vprashantkumar   Keywords: residential, flats

Even though the real estate market has slowed down in recent months, there are still plenty of homebuyers eager to make a purchase. Knowing how to prepare your home for sale, when to allow access for showings, and how you can offer buyer incentives will help you find the right buyer, even in a declining market. 

Before you even put your home on the market, make sure that all basic repairs are completed. Nothing can turn off a prospective buyer quicker than loose railings, torn screens or missing hardware on cupboard doors. These easy repairs do not cost a lot of money. If a homebuyer sees that the little things are not attended to, they are likely to believe that the larger things are neglected too. Let buyers know that you have pride in your home by making sure that all of the small repairs are taken care of.

 

Keep your home clean throughout the time it is on the market. In a slow real estate market, it is important to have your home available to show at a moment's notice. The more often your home is shown, the likelier it is that your home will sell. Keep your home available to your realtor and they will be able to show your home quickly to any buyer that shows interest.

 

Have your home staged by a professional. Home staging has become a booming business and a professional home stager will help you remove clutter and depersonalize your space. Prospective home buyers want to picture their family in the home, not yours and a home full of personal clutter will not show off the potential of your home.

 

Keep pets contained during a real estate showing and make sure that your cat litter box is always clean. Pet owners tend to get used to the odors caused by litter boxes and it is important that you remember to clean it every day. Nothing will turn off a prospective home buyer like a home that smells. Many people are fearful of dogs, especially ones that they do not know. Make sure that you either take your dog with you for a showing or put them on a leash outside.

 

Be realistic in your expectations of the price you will be able to sell your home. Forget about what could have been if you had sold it last year and focus on what your home is worth now. In a buyer's market, buyers don't have to negotiate much. Buyers know that you want to sell your home and a home that is priced too high is likely to be looked over. Ask a fair price for your home to avoid the need for too much negotiation.

 

In a slow market, hiring a real estate agent is crucial to get your home sold in a reasonable amount of time. Yes, there are ways you can list your home for sale by owner using the internet, but nothing beats the experience that comes fro a real estate agent who is able to take care of everything in order to sell your home.

 

Selling your home can be a stressful time, but you can be successful in selling your home if you remain patient, reasonable and flexible. There are buyers out there and the key is to find them and get them to fall in love with your home.

                                                                                     Courtesy Real Estate ABC.com

 

Jun 30, 2008 at 10:16 o\clock

Real Estate FDI inflow up Nearly Five-Fold

by: vprashantkumar   Keywords: Real, Estate

  The Indian real estate and housing space emerged as the darling of foreign investors in 2007-08, clinching FDI equity inflows of about Rs 8,749 crore, a near five-fold increase over FY07. 

“The investors have seen that the real estate potential in India is huge. The returns are quite attractive. In fact, we see the trend picking up even further this year as the prices are getting more attractive for investors,” Ramesh Sanka, Chief Financial Officer at DLF said.

 

Late last year, DLF Ltd had sold 49 per cent stake in eight residential project SPVs to private equity investors for a total consideration of Rs 1,675 crore.

 

A Merrill Lynch & Co entity had bought 49 per cent equity in seven residential projects in Chennai, Bangalore, Kochi and Indore for Rs 1,481 crore. The company — headed by K P Singh — has also diluted 49 per cent stake, in another middle-income housing project in Panchkula, Haryana, to Brahma Investments for Rs 194 crore.

 

According to data released by the Government on Tuesday, the real estate sector, thrown open in 2004-05, saw the FDI picking up significantly between FY05 and FY08; it was Rs 171 crore in 2005-06 surging to Rs 2,121 crore in 2006-07.

 

“Over the last three years, there has been a build-up in investor interest. We saw the impact of that interest and euphoria for FY07 and FY08 as new townships and projects were announced. Depending on the asset class within real estate sector, the average rate of return stood at 25-35 per cent for India, against a global average of single digit return,” Sanjay Verma, Executive Managing Director, South Asia, of Cushman & Wakefield said.

 

“However, at the beginning of the current year we have seen some asset bubble deflation. With prices moving southwards, choppiness in the stock markets, pressure on interest rates and global issues, while deals will still happen, pricing will be the question,” Verma added.

                                                                                  Courtesy Indian Realty news 27/06/07

Jun 28, 2008 at 11:24 o\clock

CII’S FLAGSHIP REAL ESTATE CONFERENCE

by: vprashantkumar   Keywords: Indian, Real, Estate

 Indian Real Estate 2020 is scheduled for June 27, 2008 in Mumbai spearheaded by Mr. Anuj Puri, Conference Chairman and Country Head and Managing Director, Jones Lang LaSalle Meghraj. The conference will take a leap into the future and crystal ball gaze at the prospective growth opportunities with the envisaged level of development in the Indian real estate sector. It will aim at capturing the challenges of the future – collaterally opportunities with urban planning as the single biggest challenge for the cities According to CII; the Indian real estate industry has reached a decisive stage following three years of phenomenal growth. The current phase heralds the emergence of maturity and a more following three years of sustainable growth phenomenal growth pattern.                                                                                   Courtesy: -ET Realty dt.27th June 2008                                                                                                                                                                       

Jun 28, 2008 at 11:22 o\clock

PURCHASING POWER

by: vprashantkumar   Keywords: Real, Estate

   “The increase in the interest rate has caused a steep rise in EMI which affects one’s capacity to borrow, and this in turn is likely to affect the demand of houses in the market. ET Realty explains the repercussions of RBI’s decision” With Reserve Bank of India’s decision to raise the interest rates on overnight lending to bank, interest rates in the market are firming up. As the interest rate rises, the affordability of a person to buy a house goes down. For every one percentage point rise in the interest rate, equated monthly installment (EMI) increases by around 7% upon a 20-year loan. Such a steep rise in EMI due to increase in the interest rate affects one’s capacity to borrow. This is likely to affect the demand of houses in the market. Therefore, the prices of real estate are likely to be sluggish.  In the last two years, since 2006, because of rise in interest rates, demand for housing sector has remained sluggish. According to HDFC’s affordability chart, the price of a Rs. 25 lakh apartment has gone up by 20% - to Rs. 30 lakh in the last two years. But during the same period, the average income of a person from middle class has also increased by 20% to 6 lakh in 2008, up from Rs. 5 lakh in 2006. That means, the number of year’s income required to buy a house remained the same at 5 years in the last two years, which is also called affordability factor. According to HDFC, affordability factor has improved drastically since 1995 because of the rise in income of an average middleclass person, from around Rs.  1.2 lakh then to Rs. 6 lakh in 2008. But the value of property has marginally increased from Rs 26 lakh in 1995 to Rs 30 lakh But, because of low income and high property prices one needed 22 years’ income to buy a house, the property prices had witnessed an unprecedented rise in 1994 and 1995. But, it crashed between 1995 and 1999; one needed only 6.6 years’ income to buy a house. After that, till 2004, as the property prices stagnated while income rose sharply, the number of years’ income required to buy a house further fell to 4.3 years. That was the period when interest rates also fell. Improved affordability along with lower interest rates drove the property prices to rise sharply thereafter. In the next two year, the property value almost doubled. But as the income also rose sharply from Rs 3 lakh per annum in 2004 to Rs 5 lakh per annum by 2006, the affordability factor increased to only 5 from 4.3. that means, even in 2006 one could have bought a house with 5 years’ income. But by then interest rate rose sharply from around 7.5% in 2004 to 11% in 2006. This led to increase in the EMI by almost 25% on a 20-year loan. This affected demand drastically. In 2007, there was a slight moderation in the interest rate and it fell to around 10.5%. But with the RBI again resorting to increase in the interest rate to contain inflation, the cost of borrowing will go up. Therefore, the demand is likely to remain sluggish. However, as the affordability factor remained at around 5, there will be a boom once the interest rates fall. The current rise in the interest rate is also due to global concerns like crisis due to sub prime home loan in the US markets. Bankers feel that such concerns would recede soon.  This would also help in bringing down the interest rates. A senior banker said that sooner or later interest rates are likely to correct. If that happens, the property prices are likely to look up. Unitech managing director Sanjay Chandra says the demand for the real estate is still good. However, at present, the demand is coming from the end users and not from the investors. He felt that once the interest rates correct, investors will return to the market driving the property value up.                                                                                        Courtesy: - ET Realty dt.27th June 2008                                                                                      

Jun 25, 2008 at 12:39 o\clock

KOCHI REAL ESTATE: - A New Hi-Tech City On The Anvil

by: vprashantkumar   Keywords: Indian, Real, Estate, Property, India

  Kochi will soon attain global status with the coming of a Rs 5,000-crore hi-tech city project. The Bangalore-based Shobha Developers have signed up an MoU with the state government for setting up this hi-tech city. Sobha Hi-Tech City will be an integrated city with focus on research and development, knowledge dissemination, information technology and pure and applied sciences. The city is located close to the National Highway 47 bypass near Maradu in Kochi. It will have 7 million sq.ft. of knowledge park, commercial space to provide business-friendly ambience, hospitality and leisure projects, entertainment and amusement facilities, a marina and residential complexes. The project will be completed in eight years and would generate 75,000 direct jobs.                                                                                                             Realty Plus

Jun 25, 2008 at 12:38 o\clock

BHIWADI REAL ESTATE :- Mall Adorns Bhiwadi

by: vprashantkumar   Keywords: Indian, Real, Estate, Property, India

  Genesis Infratech Pvt. ltd. is gifting Bhiwadi its largest mall. Located on the main Bhiwadi-Alwar Road the mall features a four-screen multiplex, a kid zone and a disco. Rajender Kumar Associates are the architects for the mall. The mall-cum-multiplex has been conceptualized to offer an international shopping experience with a strategic balance of hypermarkets, branded stores and a bazaar to cater to the needs of small retailers. Other added features include the vaastu-compliant parking space. The mall would also prove beneficial for the people of Gurgaon, Manesar, Dharuhera and Alwar.

                                                 

                                                                                                                  Realty Plus


Jun 24, 2008 at 14:02 o\clock

LEHRMAN BROTHERS REAL ESTATE PARTNERS TO INVEST IN UNITECH'S MUMBAI PROJECT

by: vprashantkumar   Keywords: Property, India

Lehman Brothers Real Estate Partners has agreed to invest approximately Rs. 740 crores to acquire a 50 per cent stake in the initial phase of a master-planned project on the Western Expressway of Mumbai. Unitech Limited and their local Mumbai partners - the Western Expressway JV are jointly developing the project The initial phase entails development of one million square feet of office space out of the total developable area of approximately 18 million square feet. Lehman Brothers Real Estate Partners and the Western Expressway JV will each contribute 50 per cent of the construction costs.  World renowned architecture firm Skidmore, Owings & Merrill (SOM) has been retained to design the master plan for the broader project which envisions a 100+ acre mixed-use development containing office, retail, residential and hotel components. The JV aims to create one of the most high profile developments in Mumbai, with a unified character and management along the lines of Roppongi Hills in Tokyo, Canary Wharf in London, and Battery Park in New York  Courtesy:- HT dated:- 21st June 2008   

Jun 24, 2008 at 14:02 o\clock

MAN GROUP LUNCHES REALTY VENTURE

by: vprashantkumar   Keywords: Real, Estate, India

 MAN Industries India Limited, part of the well-diversified UK-based MAN Group and India's leading manufacturer of large diameter line pipes and coating systems, announced its plans to diversify into the real estate sector The Company's subsidiary, MAN Infraprojects Limited plans to develop seven projects in Mumbai, Navi Mumbai and Indore in the next three years. With a total built-up area of 10 million sq ft., the projects would be worth over Rs. 4000 crore.  In Phase I, MAN Infraprojects Limited plans to develop three projects - two in Mumbai and one in Navi Mumbai with a total built-up area of over one million sq ft. Work on the three projects will commence in the next few days, and would be completed in the next two years. Courtesy:- HT dated:- 21st June 2008 

Jun 23, 2008 at 07:14 o\clock

PARSVNATH TO HOLD 38% IN BHATIA'S NANOCITY

by: vprashantkumar   Keywords: Real, Estate, Property, India, OFFICE, Space

  Finally it's official. Delhibased realtor Parsvnath Developers will hold 38% stake in the Rs 1,800-crore Nanocity project. The company would be subscribing to the capital of Nanocity, which is a joint venture between Sabeer Bhatia and Parsvnath Developers. Nanocity will have projects relating to nanotechnology, biosciences, software product development, materials research etc.    A new company, Nanoworks, would also be set up, which would raise money through an IPO, expected to be in the region of Rs 1,000-1,200 crore. Bhatia is expected to land in India next week to sign an MoU with Parsvnath Developers. However, Parsvnath has denied any such development. When asked about the development, company advisor PK Jain said, "I am not aware of any such development. May be, you know more." The Nanocity project, spread over 11,138 acres, is modelled on the Silicon Valley and will come up in two phases. Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) and Nano Works Developers (P) Ltd had signed a joint venture to set up the knowledge city in Panchkula district in November, 2006.  Courtesy:- ET dated:- 20th June 2008 

Jun 23, 2008 at 07:13 o\clock

REALTY PROMOTERS PLEDGING SHARES TO RAISE FUNDS

by: vprashantkumar   Keywords: buy, Property, India, Indian, Real, Estate

 Akruti City, Omaxe, Sobha Developers, among other property developers, are pledging shares with lenders to provide additional security, apart from hypothecating properties to borrow funds, according to information submitted to the stock exchanges. Promoters of Akruti, Omaxe and Sobha have pledged their shares with Indiabulls Financial Services, financiers like Dubai-based BankSarasin & Co and Credit Suisse as a liquid security for loans against properties.  "With prices of real estate stocks falling sharply, promoters have been pledging more shares to cover the margin. In the process, some of these promoters have pledged a large stake with Indiabulls," said the CEO of a real estate fund.   Real estate developers have been feeling the squeeze. Rising interest rates and slowdown have hurt sales, bringing down real estate prices 10 to 20 per cent across different micro markets. On the other hand, rising steel and cement prices have increased input costs for developers, while the meltdown in markets has hampered their ability to raise funds at home or abroad.   Sources say Omaxe has raised loans of Rs 300 crore from Indiabulls and has repaid nearly two-thirds of it. On December 4, 2007, its promoters pledged 14.4 per cent stake, or 25,058,000 shares, with Indiabulls. "Developers have provided assets, such as large pieces of land as collateral, but as additional liquid security promoters have provided a personal guarantee or pledged a part of their stake in the company,'' said a real estate analyst.   Akruti City, which, sources say, has raised loans of Rs 200 crore from Indiabulls, has subsequently repaid nearly Rs 120 crore. On December 31, 2007, Akruti's promoters pledged 5.86 per cent stake with Indiabulls, which increased the lender's stake in the company to 8.24 per cent.  On February 7, 2008, the promoters pledged 2.38 per cent stake with Indiabulls. As a result, Indiabulls' stake in Akruti went up to 10.62 per cent.   On September 11, 2007, Sobha Developers, which builds offices for IT major Infosys, pledged 7.81 per cent of the company's stake with Dubai-based Bank Sarasin & Co. A day earlier, the promoters had pledged 10.70 per cent with Credit Suisse.  The loans raised by promoters couldn't be confirmed but Sobha's company secretary said the loans went to the promoters and not the company.Courtesy:- BS dated:- 19th June 2008  

Jun 23, 2008 at 07:12 o\clock

RESIDENTIAL RATES RISE IN GHAZIABAD

by: vprashantkumar   Keywords: residential, flats, commercial, plots, OFFICE, Space

THE HIGH DEMAND FOR RESIDENTIAL, INDUSTRIAL AND COMMERCIAL PLOTS HAS INCREASED THE CIRCLE RATES IN GHAZIABAD. After Noida and Greater Noida, it is now the Ghaziabad's turn to see a rise in land rates meant for residential purposes. New circle rates have been proposed to bridge the gap between real estate prices and existing sector rates. M P Singh, deputy commissioner (stamp), says, "after receiving the objections, district administration will revise the new circle rates. They are likely to be effective from June 16th. According to proposed circle rates, near NH-24, circle rates have been hiked from 80 lakh to 1 crore per acre in Mehrauli village." The new rates have been hiked on basis of distance covered from National Highway.                                                                                                                    Interestingly more than the residential colonies, there is a likelihood of a steep increase in the residential land circle rates. In Ramprastha, Surya Nagar, Chandra Nagar, Vaishali, Kaushambi, Indirapuram, Vasundhara, Kavonagar, Rajnagar, Nehru Nagar, Brijvihar, Lohia Nagar, Patel Nagar and Rajendra Nagar the new circle rates have been hiked between 20% and 58%. The existing circle rates of residential plots range from Rs 12,000 to Rs 25,000 per sq mtr.                                                                                                                     The new rates will be Rs 15,000 to Rs 32,000 per sq mt. For commercial plots, the circle rates have been hiked from Rs 20,000 sq mt to Rs 80,000 per sq mt. The new circle rates have been revised on the basis of total number of registrations of documentation in last 2-3 years. Commenting on the new circle rates, S K Divedi, vice chairman, Ghaziabad Development Authority, said right implementation of new circle rates are more important to value the price index and area development.  Getting buyers to take a look at property is the biggest challenge in selling a property. For this reason, a little time and money is needed in making out a solid proof in getting property registration. With over 18 lakhs in population, Ghaziabad is emerging as a popular destination. It is already being looked upon as an alternative to Delhi. Kramchandani, vice president, Parsvnath Developers, says: Commonwealth Games brings a lot of hope for fast development.  Courtesy:- HT dated:- 20th June 2008


 

Jun 19, 2008 at 12:29 o\clock

REALTORS EYE HUGE PROFITS FROM MODEST HOUSES...

by: vprashantkumar   Keywords: Real, Estate

Affordable housing, the most neglected segment of the real estate sector, is now attracting large-scale investments from developers as well as private equity funds. While real estate majors like Ansals and Omaxe are planning low-budget housing projects in smaller towns and cities across the country, private equity players are firming up huge investments for this segment. Recognising the potential growth in affordable housing segment, Delhi based Omaxe Ltd has formed a company, National Affordable Housing Infrastructure Ltd, which will invest Rs 80,000 crore to develop 100,000 affordable homes across the country. "Smaller towns and cities will be the primary target of this venture. The first project is expected to come up in Rajasthan or Uttar Pradesh by the end of this year," said Rohtas Goel, chairman and managing director, Omaxe Ltd. Omaxe is planning to offer these houses, to be developed in the next five years, for Rs 2.5-20 lakh per flat, Goel says. Ansal API President (Marketing) Kunal Banerji said, "The market for luxury homes is limited while there is a big market for lowand mid-segment houses." Keeping the enormous growth potential in this segment, Ansal API is building affordable houses in Agra, Ajmer, Meerut, Panipat, Sonepat and Kurukshetra, Banerji added. Private equity firm Red Fort Capital(RFC) plans to invest Rs 430 crore over the next two years in affordable housing on the outskirts of Bangalore and Hyderabad.  "This (affordable housing) is the largest segment in the market and we, through our technology that reduces cost of construction by 15 per cent, will provide homes in the range of Rs 820 lakh," said Kuldeep Chawala, director, RFC. Global private equity fund Warburg Pincus recently announced an investment of Rs 300 crore in Jaipur-based Mannat Group Company, Unique Affordable Homes, for projects in North and West India. Fire Capital Fund (FCF) is investing over Rs.600 crore in seven of its affordable housing projects in Indore, Bangalore, Chennai, Nagpur, Dehradun, Ahmedabad and Jaipur. "From affordable housing projects, we expect a return of 20-25 per cent, which is the same as in upper-end investments," said Om Chaudhry, CEO, and FCF. Courtesy: - B.S. dated: - 16th June 2008    

Jun 18, 2008 at 13:40 o\clock

ANSAL LAUNCHES FLORENCE ABODE

by: vprashantkumar   Keywords: Indian, Real, Estate

Glide past to enter the contours of Gurgaon where a series of world-class shopping malls and beautiful mansions greet you. A drive further towards Sushant Lok II/ III takes you through wide beautiful roads and suddenly the rhythm of life changes. The serenity and solitude that you always revered is right here amidst one of the most beautiful landscapes South of Delhi, a life that is flourishing amidst a picturesque and planned township with all the contemporary facilities. Ansal Buildwell has launched yet another landmark project namely Florence Abode - a masterpiece of flamboyance. It presents you diligently planned independent life-scapes that not only match your aspiration but also create a passion that emerges from fulfilment of your lifetime dream! A place that blends the traditional preference of living in a bungalow with modern architectural design and resonates with natural bliss. Admire the luxury in its lavish expanse that is enriched in totality, subtly pampered and delightfully engrossing.  While launching this exclusive lifestyle project, Ansal Buildwell's Additional Vice President (Sales & Marketing) Mr. K.K. Tripathi says that Florence Abode offers you the convenience of parking your limousine in drive way of your dream castle.   It also provides you an expanse of 418 sq. yards with 5665 sq. ft. of built up area across three levels. The tiled surface with contours of lush greenery welcomes you to the serene and blissful environment. Nature keeps you company at Florence Abode and offer you a rich canvas to fill up with your choice of flower plants and shrubs. The front and rear gardens are a delight for people who love gardening. Florence Abode offers you rich construction specifications and integrated living space, which make it a perfect choice for elite lifestyle. It also offers you convenient access to shopping malls and entertainment zone with a happening lifestyle.   It has perfect setting for hosting luncheon and dinner with convenience of serving the hottest preparations in a chilled ambience. The Kitchen of Florence abode is nicely designed to offer a clutter free arena for cooking some of the finest preparations in a most convenient manner. The convenience is further enhanced with double bowl steel sink and elegantly designed cabinets that optimise storage space. The Guest Room of Florence Abode is conveniently located to offer you the optimum privacy and maximum comfort to your guest. The compactness and class shows theWarmth and affection that you wish to shower upon your privileged guests. Dreams find a distinct space at Florence Abode's Master Bedroom. Its lavish expanse, spacious cupboards and optimised floor space gives your imagination a grand reason to celebrate the life in its fine zing.  The attached master bathroom is equipped with some of the finest accoutrements to ensure that you enjoy each moment of classic lifestyle. Family Lounge of Florence Abode offers you a space that is compact for cherished family gathering, a place to share the dreams, thoughts, and emotions and strengthen the bonds of togetherness which are the foundation of a family. The puja room welcomes you to a place where you find solace, peace and tranquillity that help you connect with inner self. A celestial ambience greets you in the Puja Room and offers you divine blessings to lead a pious life. Highlighting various achievements of Ansal Buildwell Sushant Lok II/ III, Additional Vice President (Sales & Marketing) K.K. Tripathi said that Ansal Buildwell's new offering Florence Elite, Florence Marvel, Florence Villas in Sushant Lok II/ III have received exemplary patronage and have been outright success and also offering the world class facilities.   Ansal Buildwell's commercial projects Navkriti Arcade, Sushant Tower in Sushant Lok-II & Boom Plaza, Boulevard Centre in Sushant Lok-III have also received a great response from corporate clients and retailers. Ansal Buildwell's foresight expands beyond horizons and drives its foray in to hospitality segment. These clubs will offer modern amenities and facilities for rejuvenation and recreation. Club Florence at Sushant Lok-II is a pioneering step in this direction to make it best and to give best.   The new millennium will see the Ansal Buildwell Group setting new goals and sights, new practices, perhaps ventures into emerging territories to build competencies besides construction, but what will stay unchanged are the guiding principles that have made it what it is tod                                  Courtesy:- HT dated:- 14th June 2008  

Jun 18, 2008 at 13:39 o\clock

ILD LAUNCHES A PROJECT IN GURGAON

by: vprashantkumar   Keywords: Real, Estate, Indian, Property

  International Land Developers Ltd. (ILD) recently announced the launch of their new housing project - ILD SPIRE GREENS. Located in the fast upcoming Sector 37C, Gurgaon, the project is backed by FDI funding from Millennium Spire, Singapore (MSL) and features 2-4 bedroom homes and penthouses. In line with Millennium Spire's 'Mainstream Green Development' philosophy, ILD Spire Greens is being developed as an eco-friendly project, which at the same time, merges seamlessly into the growing urban landscape. Says Mr. Ashish Bhalla, MD, Millennium Spire, "What we are trying to achieve with ILD SPIRE GREENS is to go beyond the concept of only area, only location, only sqft. While ILD SPIRE GREENS exceeds all expectations in the above counts, it also is a statement of true innovation and value engineering." Innovative design ideas behind ILD SPIRE GREENS will not only provide the highest quality of life to its residents, but also encourage a society that is both sensitive and responsible towards the environment. Be it the unique terrace gardens with the duplex apartments (a la villa in the sky) or the roof gardens on the towers, the houses are being designed to provide proximity to nature, as well as serve towards replacing a large part of the vegetative footprint that would be consumed while constructing the buildings.   The complex will also adopt an elaborate system for rain water harvesting, geared towards partially reducing the strain so typically faced by the other developments. Added to this would be a comprehensive waste management & segregation set up and an in-house Sewage Treatment Plant, both designed to enable proper waste disposal. Also being deployed are various water management plans that would automatically reduce wastage of this valuable resource. Take, for example, the use of recycled treated water for landscape irrigation, and the plantation of indigenous trees like Kachnar, Jamun, Khirni, Bahad and Indian Laburnum that naturally lower the irrigation requirements, and you can see the planning going into conserving the precious resources. Moreover, power saving measures like energy-saving light fixtures in com mon and outdoor areas would cut down power consumption. Together, these features would be more than just environmental friendly; they would also serve towards lowering down your monthly maintenance bills. .   Due to its excellent location in the fast developing sector 37C, ILD SPIRE GREENS also enjoys excellent connectivity. It is in close proximity to the proposed Metro line (2 kms), NH 8 (3 kms) and the expressway (2 kms). - (see location map attached)  The project is designed by renowned architectural firms like BDP Groupe6 (Europe), Ajoy Chaudhury and Associates (India) and Abaxial Architects (India), and is envisioned to be a masterpiece in design. Among the many design innovations, the perforated elevation of the building the duplex apartments in the high rise buildings.   Also featured in the project are an exclusive club, open-air amphitheatre, organic cafe, convenience stores, fitness club, aerobics and yoga centre, an arboretum which meanders over a 2 km long trail, pre-school and nursery school, and courts for basketball, tennis and squash. Added to this package are amenities such as 24x7 power back-up, water security, broadband internet access, DTH satellite TV access, designated parking and state of the art security system.  However, the most amazing thing about the project is its pricing. Apartments here start at Rs. 30 lakhs (BSP), a figure which is a far cry from the Rs. 50 lakh & more that similar sized apartments sell for. Even the luxurious 5200 sq ft penthouses will be available for less than Rs. 1.5 crores. (BSP).                                                  Courtesy:- HT dated:- 14th June 2008       

Jun 17, 2008 at 13:17 o\clock

OMAXE FORAYS INTO DUBAI

by: vprashantkumar   Keywords: India, Property

 Realty major Omaxe announced its foray into the Middle East property market by setting up a subsidiary, which would develop two projects worth Rs 2,850 crore in Dubai. Omaxe has formed a wholly-owned subsidiary-Rohtas Holdings (Gulf)- at Dubai, UAE, the company said in a filling to the BSE.  Courtesy: - TOI dated:- 11th June 2008  

                                  

Jun 17, 2008 at 13:17 o\clock

TRAVELORG TO INVEST RS 40-60 CR TO EXPAND SERVICE APARTMENTS

by: vprashantkumar   Keywords: Real, Estate, Property, jameen, zaidad

  Travel and tourism services provider travelorg plans to increase its serviced apartments form 160 to 240 by March 2009 with an investment of Rs 40 to 60 crore, a company official said. Signature Crest, brand name under which it runs business, is a chain of fully-furnished serviced apartments offering high-end amenities to corporate travelers, combining business with pleasure. "We would be investing around Rs 40-60 crore for increasing Signature Crest apartments," the company CEO Venkatesh K said. The company was also inaugurating a service apartment in London on July 1, he said. Courtesy:- ET dated 16th June 2008    

Jun 16, 2008 at 12:49 o\clock

AFFORDABLE HOUSING

by: vprashantkumar   Keywords: Real, Estate

In a crowded real estate market where prices are rising, it is our moral bound duty and responsibility to speak up for ethics and transparency as well as realistic profits and practices to sustain affordable housing.  Riding on explosive demand, some real estate players are squeezing genuine home-seekers and making more than 100 per cent margins in operating profits, instead developers should sell their products on a cost-plus basis as buyers put in one third of their life long savings to own one house. Since consumers are in need, they should not be fleeced, which is happening in most of cases, and investors are making money. Making more than 100 per cent profit is almost a criminal offence.  One of the ways to stop this artificial rise in the prices is that developers should not sell these flats to investors who are in the business to make fast bucks. Since a home is a product that is core to every home-seeker, the profit margin should be a part of the corporate social responsibility (CSR).  The housing shortfall in India evidently parallels China's. Both countries are trying to increase the available stock but China has acted more firmly in the face of high levels of speculation and rising prices. The Housing Ministry in India has been considering cross-subsidisation but progress will depend on the Central and State governments acting in a far-sighted way. The most difficult task is to integrate the resources of local bodies, financial institutions, city planners, and the private sector to remove hurdles encountered by the weaker sections. The lack of institutional financing options for the poor and the rising cost of property have been identified as two major barriers. Speculation has driven up land prices in urban and per urban areas, while there is little new stock of public housing for rent or sale. To see some results, the government needs to move ahead on reserving land, adopting vertical construction in congested areas, reducing prices through use of low cost materials, and partnering with the private sector. Where the supply of available housing is less than the demand, low and moderate-income households often struggle to find and secure housing that is affordable. In these housing markets, land values often outpace the capacity of incomes to keep up. Such housing markets often (but not always) have a limited supply of residential land, or a number of regulations that make it difficult or costly to increase housing supply at rents affordable to consumers at income range below the local average.  In Gurgaon and NCR, the prices were soaring high particularly residential because of short supply and concentration of the market by few major players. Nothing was available less than 4500/sq.ft. Also, the new projects were launched at 6000-7000/-sq.ft. As a result end-users were not able to access the available housing. Due to maximum people not able to afford, there came a slump and there were virtually no buyers. If the situation cannot be controlled even now and the prices further continue to escalate, there is a likelihood of market to crash for expensive and high-end apartments. Houses can easily be made available with international world-class amenities between Rs 2,500-3,500/- per sq.ft at which Raheja Developers have launched new projects like Vedaanta, Navodaya and Atharva. In case a builder adopts a rational pricing strategy, its projects will surely meet up with unprecedented success. The past six months in Gurgaon property market amply highlight this fact. All these projects are 80 per cent sold out in a matter of days, most of these who booked are actual users since our company does not give more than one apartment per family. Courtesy:- HT dated:- 14th June 2008

Jun 14, 2008 at 14:17 o\clock

What's the Best Way to Get Started?

by: vprashantkumar   Keywords: Real, Estate

                   The ideal way to get started in real estate investing would require:Using none of your own money.No credit of any kind.Absolutely no financial risk.This is possible through real estate jobbing.What is Real Estate Jobbing?Real estate jobbing offers a risk free way to learn about real estate investing, hands on. You work with local Real estate investors to learn the ropes.You provide information to Investors about properties around town that are for sale. You save the Investors time, by finding them properties to buy, and they in turn will teach you about the business. It's what's known as a win-win relationship.    

Jun 14, 2008 at 14:17 o\clock

Earn Some Extra Money in Your Spare Time!

by: vprashantkumar   Keywords: Indian, Property

When one of your real estate investors buys a property from the information you provided, then you are paid a referral fee! Real estate jobbing allows you to earn some extra money while you learn all about real estate investing first hand. You don't need money or credit, and there is absolutely no financial risk. Sounds like a great way to start taking control of your life, and building the true wealth that you and your family deserve. "New One of a Kind Course" Real estate jobbing is a great way to get started in real estate investing risk free. You learn the ropes by working with local real estate investors. You simply find houses that are for sale in your area, and pass this information on to your Investors. In exchange the Investors will teach you about investing in real estate first hand, and pay you a referral fee if they buy a property based on the information you supplied.

Jun 14, 2008 at 14:16 o\clock

Learn Investing With Learn Real Estate

by: vprashantkumar   Keywords: India, Property, residential

                          Zero Money * Zero Credit * Zero Risk Real estate is the greatest wealth building investment there is. True wealth is not built by making deposits into your bank account having payroll deductions placed in your pension plan or making annual contributions to your IRA.                            True wealth can be chosen at the time of retirement. Once you decide to retire you will continue to live the lifestyle that you have been accustomed to. Now your money is working for you, while you enjoy life!In fact real estate has produced more millionaires than any other industry. Investing in real estate has proven to be a true wealth builder for centuries.Is real estate investing an easy way to get rich overnight? No way! This is an urban myth that many people have fallen victim to. Is it possible to get rich with real estate investing? Absolutely, but it takes effort, education and perseverance. Done correctly, real estate investing is a great way to take control of your life, and gain financial freedom.