Designing homes for senior citizens involves careful planning and attention to detail in order to foster their requirements and make homes livable, says Suchita Patil
Most housing societies have a large number of senior citizens, and there is now a growing awareness that they need spaces that are adapted to their needs. Senior citizens have a number of requirements and a normal house or society complex may not be well equipped with the right facilities. Architects and designers point out the importance of building senior citizen friendly spaces, with facilities that will help them lead a healthy, pleasant and a hassle freelife.
M H Dalal, CMD, M H Dalal Architects Pvt Ltd, says, “The concept and ethos while designing a home for senior citizen should be such that it allows them to live independently with dignity. There are certain parameters, which need to be considered while designing. A few of the physical parameters are that all edges and corners must be rounded as far as possible, the width of all doors should be adequate enough to make them wheelchair accessible, there should be a sliding bathroom door to facilitate easy movement, wide passageways, grip rails at strategic locations, no level difference in flooring, anti skid tiles, and switches placed at manageable levels, among other things. Besides, the complex should also have good amenities and infrastructure that are unique to such a complex, such as a library, small canteen, and physiotherapy clinic instead of a gym, multi-purpose hall, advanced security systems like video door phones, panic buttons, and pendant buttons to help in case of emergency.”
Niteen Parulekar, design principal, Niteen Parulekar Architects Pvt Ltd, says, “With age, their bones become fragile and eyesight weakens. So stress should be given on maximum use of natural lights with cross-ventilation, dimmable lights with light switches located in accessible locations along with use of technology like video-door phones, alarm system. An old age home must have easy access to hotline services like hospitals, ambulance in case of emergency.”
Citing the demand, many developers too are showing interest and coming with senior citizen friendly facilities in their projects. R Karthik, senior vice-president marketing, Lodha Group, says, “There is a definite need for designing homes for senior citizens. With regards to safety, there are motion sensors for automatic lighting in bathrooms along with medical facilities to take care of any emergency. For example, we have signed with the Hinduja Hospital to set up a medical facility at our township at Dombivali for our projects Casa Bella and Casa Bella Gold.”
Kaizad Hateria, GM, Corporate customer relations and sales, Rustomjee, says, “ Townships or gated communities are the best for designing homes for senior citizen homes. Providing security through video conferencing, guard on call through videophones, grills at the door, through checks in gated communities while entry and exit of a person in the township will make it more user friendly. At our project Rustomjee Urbania, we have even consulted experts for fixing lampposts such that the height and distance between the two lampposts, avoids the falling of shadows directly on the ground, which will be very helpful for them.”
Manju Yagnik, vice-chairperson, Nahar Group, points out that the concept is still market driven. The demand exists but both senior citizens and developers are yet to wake up towards this need. She says, “The facilities enabling wheelchair entry into the lobbies, anti-skid tiles, accessible light points and bells in the house and providing at least one stretcherlift in the normal projects can really help senior citizens in their day-today life. Considering the security, avoiding multiple entries, video door phones along with providing easy shopping, medical and recreation facilities within their complex are necessary.”
Talking about the demand and response from the consumers, M H Dalal says, “Senior residences across the world are of different types including adult living, enriched living, assisted living and specialty care. In India, the demand is high for assisted living space, but at the moment, we mainly have the adult living module and we are trying to convince developers to develop some part of their huge projects in the form of an ‘oasis’ for senior citizens, and have at least 5% of their living spaces designed that are conducive to senior citizen homes. Golden Nest in Pune by Vascon Engineers has been developed and work is going on another project in Bhopal by Aakriti Dwellings Pvt Ltd. The developers in Mumbai too are actively discussing such projects. He strongly feels that there exists a vibrant demand and that entrepreneurs should take development and management of such homes as a business module as is prevailing in other parts of the developed world.”
With the trend moving towards nuclear families, creating an environment that enables an older person to feel independent and gives them the pleasure of staying in their own house should be the aim of all home design.
Courtesy:- Times Property dt:- 26/12/2009
Monday, December 28, 2009
SKY GARDEN
New-age windows, sky gardens that are weatherproof and are visually and acoustically planned out, are some of the novel elements that architects are trying. Rajati Bakshi writes
Amad rush of development in the Indian metros has resulted in the construction of over-bridges and causeways, unsurpassed vertical growth in residences and office spaces, and luxury apartments that are spread across cities. In this concrete jungle, green spaces are at a premium.
Today, million-dollar apartments are springing up all over the country, which boast huge structures, rich interiors, luxury amenities, all ensconced in premium locations. But the question still stands. What creates value in apartments?
While location is important, a business consultant points out, “Design is an equally necessary component. One needs to optimize the use of space even in grandeur.” The director of Raghav Realtors Pvt Ltd says: “Due to scarcity of space in Mumbai, the concept of outdoor living is almost non-existent. All open area is taken up by the apartment. Although outdoor culture is much more prevalent in Delhi, the utility-based integration of outdoor space is a must.”
Som Bakshi, a nationally and internationally awarded director-cum-cinematographer has used his visual acumen to provide simple design solutions that retain the grandeur and urbaneness of luxury apartments and also create outdoor spaces that are supremely unique.
Proportionate windows: The visual evolution of the human eye has progressed from a ratio of 3:4 vision to 16:9 and promises to move into the realm of 20:9 in the future. This can be seen in TV screens that were earlier rectangular in shape, but now, have moved firmly into the realm of panoramic screens.
This change is yet to be firmly incorporated as a design element in the construction of our windows. Currently, windows unfold the view of the city in vertical, rectangular or square-ish manner - a discerning eye invariably finds something amiss in this visual element. The hot glare of the noon sun pours in, requiring us to put heavy shades and double curtains.
To bypass this problem, in a luxury apartment created in Geetanjili Enclave, in the heart of South Delhi, Som Bakshi created windows that mirror the ratio that our eye demands today. These windows are in the ratio of 16:9 and provide panoramic views of the city.
“Although cinemascopic windows are now a fixture in the west, they have added advantages for India. Not only do they suit the visual evolution of the human eye, but they also slice off the hot glare of the Indian skies to reveal a gentler view of the city,” says Bakshi.
Experience the outdoors: Green spaces are at a premium everywhere. To transport the activities that would normally have taken place in the closed rooms of an apartment to a carefully constructed and cocooned sky garden with aesthetics, privacy and luxury was a problem that was put to rest. By bridging the gap between indoors and outdoors, the cinematographer created a permanent outdoor sit-out for up to a hundred people with a surround sound system and home theatre setup at the rooftop sky garden.
As a consequence, this increased the scope of the outdoor space and brought it to an experiential level - of music, a fireplace, an outdoor cinema, and a bar. Weatherproof, visually and acoustically planned out, and trend setting, this setup is perfect whether hosting an intimate evening or for a party.
Courtesy:- Times Property dt:- 26/12/2009
Amad rush of development in the Indian metros has resulted in the construction of over-bridges and causeways, unsurpassed vertical growth in residences and office spaces, and luxury apartments that are spread across cities. In this concrete jungle, green spaces are at a premium.
Today, million-dollar apartments are springing up all over the country, which boast huge structures, rich interiors, luxury amenities, all ensconced in premium locations. But the question still stands. What creates value in apartments?
While location is important, a business consultant points out, “Design is an equally necessary component. One needs to optimize the use of space even in grandeur.” The director of Raghav Realtors Pvt Ltd says: “Due to scarcity of space in Mumbai, the concept of outdoor living is almost non-existent. All open area is taken up by the apartment. Although outdoor culture is much more prevalent in Delhi, the utility-based integration of outdoor space is a must.”
Som Bakshi, a nationally and internationally awarded director-cum-cinematographer has used his visual acumen to provide simple design solutions that retain the grandeur and urbaneness of luxury apartments and also create outdoor spaces that are supremely unique.
Proportionate windows: The visual evolution of the human eye has progressed from a ratio of 3:4 vision to 16:9 and promises to move into the realm of 20:9 in the future. This can be seen in TV screens that were earlier rectangular in shape, but now, have moved firmly into the realm of panoramic screens.
This change is yet to be firmly incorporated as a design element in the construction of our windows. Currently, windows unfold the view of the city in vertical, rectangular or square-ish manner - a discerning eye invariably finds something amiss in this visual element. The hot glare of the noon sun pours in, requiring us to put heavy shades and double curtains.
To bypass this problem, in a luxury apartment created in Geetanjili Enclave, in the heart of South Delhi, Som Bakshi created windows that mirror the ratio that our eye demands today. These windows are in the ratio of 16:9 and provide panoramic views of the city.
“Although cinemascopic windows are now a fixture in the west, they have added advantages for India. Not only do they suit the visual evolution of the human eye, but they also slice off the hot glare of the Indian skies to reveal a gentler view of the city,” says Bakshi.
Experience the outdoors: Green spaces are at a premium everywhere. To transport the activities that would normally have taken place in the closed rooms of an apartment to a carefully constructed and cocooned sky garden with aesthetics, privacy and luxury was a problem that was put to rest. By bridging the gap between indoors and outdoors, the cinematographer created a permanent outdoor sit-out for up to a hundred people with a surround sound system and home theatre setup at the rooftop sky garden.
As a consequence, this increased the scope of the outdoor space and brought it to an experiential level - of music, a fireplace, an outdoor cinema, and a bar. Weatherproof, visually and acoustically planned out, and trend setting, this setup is perfect whether hosting an intimate evening or for a party.
Courtesy:- Times Property dt:- 26/12/2009
Tuesday, December 22, 2009
Hansmukhi Developers. Launches 1, 2, 3 bedroom apartments Race course in Dehradun
At Hansmukhi we promise that we will change the way you live with real estate firm, because we are determined to give you the most luxurious living apartments, flats and villas at the most affordable prices. Race course valley is a mini township with affordable apartments and villsas that brings in world class housing standards. We believe that it is not only the comforts of your homes, houses, apartments and villas which matter but also the location and environment you live in.
that is why we chose to build your dream houses, homes, apartments, flats, and villsa in the most sought after and premium address in valley. Surrounded by the green environment and the mountain back drop, Race course valley is in the heart of Dehradun city, but still away from the city crowd, traffic jam etc. You can be a part of the elite neighborhood with best of luxury houses, homes, apartments, flats, and villsa at best of prices.
HIGHLIGHTS
Proximity to Sahastradhara Waterfall, famous picnic spot of Dehradun valley.
‘VASTU’ based Design & Planning to ensure health and prosperity for you in dehradun afordable housing houses, homes, apartments, flats, and villsa.
Eye Catching Landscape and maximum lush green coverage with waterfalls and fountains.
Sports Club with modern facilities in your houses, homes, apartments, flats, and villsa.
State of the art Gymnasium.
Mini Shopping Arcade.
Swimming Pool in your houses, homes, apartments, flats, and villsa.
Jogging Track.
Power Lifts for every tower.
Power Backup in your houses, homes, apartments, flats, and villsa
RO water system.
Fire Fighting-System as per safety standards.
Connectivity for Internet, Intercoms, Telephone & TV.
Two Tier security system in your houses, homes, apartments, flats, and villsa.
Wide approach road (100 ft. wide).
Earth Quake Resistant RCC framed Structure
Laminated Wooden flooring in Master Bedroom / Vitrified tiles in rooms. Non-skid Ceramic tiles in Kitchen and Toilets.
Oil bound distemper with pleasing shades on the interior walls.
Designer P.O.P. / Cornices in drawing & bedrooms.
Glazed / Ceramic tiles upto 7’ height.
Exterior Permanent finish – Texture (Paint / APEX).
Good quality Modular Kitchen in your houses, homes, apartments, flats, and villsa *.
Doors HDF (moulded skin) Type
Windows with Aluminum Frame & float glass.
Bathrooms Best quality C.P. fitting & Chinaware.
Electrical Modular Switches with Copper wiring.
Sufficient open parking space in houses, homes, apartments, flats, and villsa.
For more info log on to http://www.zameen-zaidad.com/race-course-dehradun.aspx
that is why we chose to build your dream houses, homes, apartments, flats, and villsa in the most sought after and premium address in valley. Surrounded by the green environment and the mountain back drop, Race course valley is in the heart of Dehradun city, but still away from the city crowd, traffic jam etc. You can be a part of the elite neighborhood with best of luxury houses, homes, apartments, flats, and villsa at best of prices.
HIGHLIGHTS
Proximity to Sahastradhara Waterfall, famous picnic spot of Dehradun valley.
‘VASTU’ based Design & Planning to ensure health and prosperity for you in dehradun afordable housing houses, homes, apartments, flats, and villsa.
Eye Catching Landscape and maximum lush green coverage with waterfalls and fountains.
Sports Club with modern facilities in your houses, homes, apartments, flats, and villsa.
State of the art Gymnasium.
Mini Shopping Arcade.
Swimming Pool in your houses, homes, apartments, flats, and villsa.
Jogging Track.
Power Lifts for every tower.
Power Backup in your houses, homes, apartments, flats, and villsa
RO water system.
Fire Fighting-System as per safety standards.
Connectivity for Internet, Intercoms, Telephone & TV.
Two Tier security system in your houses, homes, apartments, flats, and villsa.
Wide approach road (100 ft. wide).
Earth Quake Resistant RCC framed Structure
Laminated Wooden flooring in Master Bedroom / Vitrified tiles in rooms. Non-skid Ceramic tiles in Kitchen and Toilets.
Oil bound distemper with pleasing shades on the interior walls.
Designer P.O.P. / Cornices in drawing & bedrooms.
Glazed / Ceramic tiles upto 7’ height.
Exterior Permanent finish – Texture (Paint / APEX).
Good quality Modular Kitchen in your houses, homes, apartments, flats, and villsa *.
Doors HDF (moulded skin) Type
Windows with Aluminum Frame & float glass.
Bathrooms Best quality C.P. fitting & Chinaware.
Electrical Modular Switches with Copper wiring.
Sufficient open parking space in houses, homes, apartments, flats, and villsa.
For more info log on to http://www.zameen-zaidad.com/race-course-dehradun.aspx
Hansmukhi Developers. Launches 2, 3 & 4 Bedroom Apartments in Dehradun Garden Estate
At Hansmukhi we promise that we will change the way you live, because we are determined to give you the most luxurious living at the most affordable prices. Race course valley is a mini township that brings in world class housing standards. We believe that it is not only the comforts of your home which matter but also the location and environment you live in.
that is why we chose to build your dream house in the most sought after and premium address in valley. Surrounded by the green environment and the mountain back drop, Race course valley is in the heart of Dehradun city, but still away from the city crowd, traffic jam etc. You can be a part of the elite neighborhood with best of luxury at best of prices.
HIGHLIGHTS
Proximity to Sahastradhara Waterfall, famous picnic spot of Dehradun valley.
‘VASTU’ based Design & Planning to ensure health and prosperity for you.
Eye Catching Landscape and maximum lush green coverage with waterfalls and fountains.
Sports Club with modern facilities.
State of the art Gymnasium.
Mini Shopping Arcade.
Swimming Pool in in your Residential Apartments.
Jogging Track.
Power Lifts for every tower.
Power Backup in your Residential Apartments.
RO water system in your Residential Apartments.
Fire Fighting-System as per safety standards.
Connectivity for Internet, Intercoms, Telephone & TV in your Residential Apartments.
Two Tier security system in your Residential Apartments.
Wide approach road (100 ft. wide).
Earth Quake Resistant RCC framed Structure
Laminated Wooden flooring in Master Bedroom / Vitrified tiles in rooms. Non-skid Ceramic tiles in Kitchen and Toilets.
Oil bound distemper with pleasing shades on the interior walls.
Designer P.O.P. / Cornices in drawing & bedrooms.
Glazed / Ceramic tiles upto 7’ height.
Exterior Permanent finish – Texture (Paint / APEX).
Good quality Modular Kitchen *.
Doors HDF (moulded skin) Type
Windows with Aluminum Frame & float glass.
Bathrooms Best quality C.P. fitting & Chinaware.
Electrical Modular Switches with Copper wiring.
Sufficient open parking space.
that is why we chose to build your dream house in the most sought after and premium address in valley. Surrounded by the green environment and the mountain back drop, Race course valley is in the heart of Dehradun city, but still away from the city crowd, traffic jam etc. You can be a part of the elite neighborhood with best of luxury at best of prices.
HIGHLIGHTS
Proximity to Sahastradhara Waterfall, famous picnic spot of Dehradun valley.
‘VASTU’ based Design & Planning to ensure health and prosperity for you.
Eye Catching Landscape and maximum lush green coverage with waterfalls and fountains.
Sports Club with modern facilities.
State of the art Gymnasium.
Mini Shopping Arcade.
Swimming Pool in in your Residential Apartments.
Jogging Track.
Power Lifts for every tower.
Power Backup in your Residential Apartments.
RO water system in your Residential Apartments.
Fire Fighting-System as per safety standards.
Connectivity for Internet, Intercoms, Telephone & TV in your Residential Apartments.
Two Tier security system in your Residential Apartments.
Wide approach road (100 ft. wide).
Earth Quake Resistant RCC framed Structure
Laminated Wooden flooring in Master Bedroom / Vitrified tiles in rooms. Non-skid Ceramic tiles in Kitchen and Toilets.
Oil bound distemper with pleasing shades on the interior walls.
Designer P.O.P. / Cornices in drawing & bedrooms.
Glazed / Ceramic tiles upto 7’ height.
Exterior Permanent finish – Texture (Paint / APEX).
Good quality Modular Kitchen *.
Doors HDF (moulded skin) Type
Windows with Aluminum Frame & float glass.
Bathrooms Best quality C.P. fitting & Chinaware.
Electrical Modular Switches with Copper wiring.
Sufficient open parking space.
Saturday, December 19, 2009
DLF-DAL MERGER
Promoters to gain from merger
Supriya Verma Mishra ET INTELLIGENCE GROUP
IT’S that feeling of deja vu. Delhi-based real estate developer DLF has announced a merger of its commercial realty arm DLF Assets (DAL) with itself — a move aimed at repaying some of DAL’s debt.
This merger is also aimed at consolidating all commercial properties under DLF, which will help add an annual income of close to Rs 500-600 crore in the form of lease rentals from 2009-10. DAL currently earns around Rs 325 crore from lease rentals.
The new structure involves the merger of DLF subsidiary DLF Cyber City Developers with Caraf Builders and Constructions, which is the holding company of DAL. The valuation ratio approved by the board for Cyber City and Caraf is in the ratio of 60:40. This means that DLF shareholders will have access to 60% and promoters to 40% of the merged entity. However, this will be a cashless transaction.
DLF sells commercial property to DAL, which is controlled by KP Singh who owns 78% in the latter along with his son and DLF promoter Rajeev Singh. DAL buys commercial property from DLF and collects lease rentals from it. With this merger, the debt on DLF’s books would be an additional Rs 2,460 crore.
Caraf, along with its subsidiaries, has four 3.3 million sq ft rent and a majority stake in DAL, which owns four SEZ properties with total leased area of 6.4 million sq ft. On the other hand, Cyber City has 6.7 million sq ft of builtout space across commercial buildings in Gurgaon and two operational malls in Delhi. Cyber City can further develop commercial and retail space in Gurgaon and Mumbai.
Due to non-availability of detailed numbers, we did some back-of-the-envelope calculations. Cyber City has a rental and development income of Rs 1,450 crore for FY09. The value of this company after the debt consideration comes close to Rs 11,300 crore, about 10 times its profit of Rs 1,100 crore. Capitalising DAL’s rental income at an average 10% capitalisation rate and considering a net debt of Rs 2,460 crore, DAL could be valued at roughly Rs 3,050 crore.
It shows that though the promoter’s share has come down in DAL, this merger provides access to high-rental yielding land. Whether the merger will really work out for the shareholders or not is yet to be clear, but it should certainly work out to the advantage of the promoters.
Courtesy:- ET dt:- 18/12/2009
Supriya Verma Mishra ET INTELLIGENCE GROUP
IT’S that feeling of deja vu. Delhi-based real estate developer DLF has announced a merger of its commercial realty arm DLF Assets (DAL) with itself — a move aimed at repaying some of DAL’s debt.
This merger is also aimed at consolidating all commercial properties under DLF, which will help add an annual income of close to Rs 500-600 crore in the form of lease rentals from 2009-10. DAL currently earns around Rs 325 crore from lease rentals.
The new structure involves the merger of DLF subsidiary DLF Cyber City Developers with Caraf Builders and Constructions, which is the holding company of DAL. The valuation ratio approved by the board for Cyber City and Caraf is in the ratio of 60:40. This means that DLF shareholders will have access to 60% and promoters to 40% of the merged entity. However, this will be a cashless transaction.
DLF sells commercial property to DAL, which is controlled by KP Singh who owns 78% in the latter along with his son and DLF promoter Rajeev Singh. DAL buys commercial property from DLF and collects lease rentals from it. With this merger, the debt on DLF’s books would be an additional Rs 2,460 crore.
Caraf, along with its subsidiaries, has four 3.3 million sq ft rent and a majority stake in DAL, which owns four SEZ properties with total leased area of 6.4 million sq ft. On the other hand, Cyber City has 6.7 million sq ft of builtout space across commercial buildings in Gurgaon and two operational malls in Delhi. Cyber City can further develop commercial and retail space in Gurgaon and Mumbai.
Due to non-availability of detailed numbers, we did some back-of-the-envelope calculations. Cyber City has a rental and development income of Rs 1,450 crore for FY09. The value of this company after the debt consideration comes close to Rs 11,300 crore, about 10 times its profit of Rs 1,100 crore. Capitalising DAL’s rental income at an average 10% capitalisation rate and considering a net debt of Rs 2,460 crore, DAL could be valued at roughly Rs 3,050 crore.
It shows that though the promoter’s share has come down in DAL, this merger provides access to high-rental yielding land. Whether the merger will really work out for the shareholders or not is yet to be clear, but it should certainly work out to the advantage of the promoters.
Courtesy:- ET dt:- 18/12/2009
Friday, December 18, 2009
DLF CYBER CITY ACQUIRES CARAF BUILDERS
DLF has acquired Caraf Builders & Constructions (‘Caraf’), which owns DLF Assets Private (DAL), from promoter KP Singh’s family. DLF’s board approved the transaction recently. DLF’s wholly owned subsidiary DLF Cyber City will acquire Caraf in a cashless transaction.After the transaction, the promoter stake in Cyber City will be 40%, while DLF’s stake will come down to 60%.
“The valuation ratio approved by the board accepted the relative valuation of Cyber City and Caraf in the ratio of 60:40. Consequently, the company would have an economic interest in the integrated entity of 60% with the residual 40% economic interest being held by the shareholders of Caraf (who are the promoters of the company),” DLF said in a statement. The transaction is aimed at consolidating the group’s rental assets under DLF to ensure a steady cash flow to DLF. It will also help in eliminating the conflict of interest between promoter entities and DLF,while facilitating management inte-gration and overlap elimination.
Courtesy:- ET Realty dt:- 18/12/2009
“The valuation ratio approved by the board accepted the relative valuation of Cyber City and Caraf in the ratio of 60:40. Consequently, the company would have an economic interest in the integrated entity of 60% with the residual 40% economic interest being held by the shareholders of Caraf (who are the promoters of the company),” DLF said in a statement. The transaction is aimed at consolidating the group’s rental assets under DLF to ensure a steady cash flow to DLF. It will also help in eliminating the conflict of interest between promoter entities and DLF,while facilitating management inte-gration and overlap elimination.
Courtesy:- ET Realty dt:- 18/12/2009
Wednesday, December 16, 2009
DLF Group Launches Commercial complex in pune
Pune is at the confluence of the Mutha and Mula river, surrounded by hills and lies in the natural settings having pleasant climate.
Regarded as Oxford of the East
Location for Industrial Engineering, Logistics business – This has drawn dlf-it-park-pune.aspxinvestments from ITES / BPO
MIDC has set up 3 IT Parks:
Hinjewadi
Talawadi
Kharadi
Access to Mumbai by Air, Rail & New Expressway ( with 2-1/2 hours from Mumbai)
A dlf-it-park-pune.aspxmulti-block development of approx. 1.6 million sq.ft. (Phase I) set in large landscaped campus of 60 acres.
Specification
Design
* Building designed by Renowned Architects.
* Structure designed to Seismic Zone specifications-One level higher than mandatory requirement by the govt.
* NFPA Compliant Building.
Systems
* 100% Power Back Up.
* Central air-conditioning.
* Sufficient Stilt and Basement Parking.
* Provision for Telecom Infrastructure.
Value Add
* dlf-it-park-pune.aspxProfessional Property Maintenance by DLF Services Ltd.
* Experience of Maintaining Over 6 million sq.ft. office buildings to global standards.
* Low operating cost through economies of scale.
* Committed delivery schedules.
* Amenities like Food Court, Bank ATM's, Gymnasiums, Retail zone as a part of the complex.
for more inco log on to http://www.zameen-zaidad.com/dlf-it-park-pune.aspx
Regarded as Oxford of the East
Location for Industrial Engineering, Logistics business – This has drawn dlf-it-park-pune.aspxinvestments from ITES / BPO
MIDC has set up 3 IT Parks:
Hinjewadi
Talawadi
Kharadi
Access to Mumbai by Air, Rail & New Expressway ( with 2-1/2 hours from Mumbai)
A dlf-it-park-pune.aspxmulti-block development of approx. 1.6 million sq.ft. (Phase I) set in large landscaped campus of 60 acres.
Specification
Design
* Building designed by Renowned Architects.
* Structure designed to Seismic Zone specifications-One level higher than mandatory requirement by the govt.
* NFPA Compliant Building.
Systems
* 100% Power Back Up.
* Central air-conditioning.
* Sufficient Stilt and Basement Parking.
* Provision for Telecom Infrastructure.
Value Add
* dlf-it-park-pune.aspxProfessional Property Maintenance by DLF Services Ltd.
* Experience of Maintaining Over 6 million sq.ft. office buildings to global standards.
* Low operating cost through economies of scale.
* Committed delivery schedules.
* Amenities like Food Court, Bank ATM's, Gymnasiums, Retail zone as a part of the complex.
for more inco log on to http://www.zameen-zaidad.com/dlf-it-park-pune.aspx
DLF Limited launches Residential apartment With assured returns in indore
Discover the land of opportunities – Indore
The city of Indore with a splendid past boasts of an equally bright future. Indore City is today the commercial and IT hub of central India.
Over the years, the city has welcomed people from all over to evolve into a truly cosmopolitan population.
As one of the fastest growing cities in India, dotted with lush green surroundings, brimming with new job opportunities and diverse talent pool, Indore is ideal for comfortable living and working. And DLF is here to complement the ever growing lifestyle of Indore with world-class homes.
Discover all you desire at Gardencity
The best way to understand nature is to make it a part of your life. DLF well & truly brings this sentiment to Gardencity, where you live amidst nature and enjoy a contemporary lifestyle. Gardencity's 82 acres of pollution-free environs gives the residents a perfect answer to beat their stressful lifestyle. The township has been aesthetically designed by Hafeez Contractor while the landscapes are beautified by a renowned Singapore based consultant.
With theme gardens like Ornamental Garden, Spiritual Garden, Bonsai Garden, Zodiac Garden, Gardencity brings you a step closer to nature. With a Club, School, Shopping Mall and a well-equipped Fortis Hospital within the vicinity, DLF fulfills its promise of bringing world-class lifestyle to Indore.
Clubhouse
Discover lavish clubbing facilities that pamper you
An exclusively designed club, one of the biggest in Central India, will pamper you and your family with lavish facilities. The club is built in an area of about 2.5 acres and will offer a whole new world of leisure activities. Whenever you'll want to take time out from your busy life and schedules, you'll end up feeling naturally relaxed and rejuvenated at the club. This world-class clubbing facility will cater to the leisure needs of its members.
Discover the new face of Indore at Gardencity
Gardencity, New Indore brings a cosmopolitan lifestyle to Indore with homes equipped with all modern facilities, catering to people aspiring a luxurious lifestyle.
The lush green 82 acres of Gardencity offers plots in various sizes ranging from 1800 sq.ft. to 3600 sq. ft. enveloped by open spaces.
It also boasts of a world-class club, international school for your child's future, a fully equipped 100 plus bed Fortis Hospital, shopping complex and a shopping mall with multiplex right on the AB Bye-Pass Road.
IPTV ready for enhanced entertainment.
Power distribution through underground cabling.
Discover a new world of leisure and lifestyle near you
A stress free life awaits you when you enter Gardencity, New Indore. Located in the midst of green gardens where peace and tranquility prevails, every moment spent here will complement healthy living. State-of-the-art facilities like swimming pool, gymnasium, tennis & squash courts and pool side café, truly gives 'leisure' a new dimension. Besides, you can also engage yourself in a refreshing morning jog or make yourevenings delightful at the community centre. What's more, you can also enjoy the advantage of being located in the midst of nature. Along with other modern amenities, this place is a perfect retreat to calm your senses.
Subject to terms and conditions.
For more info log on to http://www.zameen-zaidad.com/DLF-Garden-City.aspx
The city of Indore with a splendid past boasts of an equally bright future. Indore City is today the commercial and IT hub of central India.
Over the years, the city has welcomed people from all over to evolve into a truly cosmopolitan population.
As one of the fastest growing cities in India, dotted with lush green surroundings, brimming with new job opportunities and diverse talent pool, Indore is ideal for comfortable living and working. And DLF is here to complement the ever growing lifestyle of Indore with world-class homes.
Discover all you desire at Gardencity
The best way to understand nature is to make it a part of your life. DLF well & truly brings this sentiment to Gardencity, where you live amidst nature and enjoy a contemporary lifestyle. Gardencity's 82 acres of pollution-free environs gives the residents a perfect answer to beat their stressful lifestyle. The township has been aesthetically designed by Hafeez Contractor while the landscapes are beautified by a renowned Singapore based consultant.
With theme gardens like Ornamental Garden, Spiritual Garden, Bonsai Garden, Zodiac Garden, Gardencity brings you a step closer to nature. With a Club, School, Shopping Mall and a well-equipped Fortis Hospital within the vicinity, DLF fulfills its promise of bringing world-class lifestyle to Indore.
Clubhouse
Discover lavish clubbing facilities that pamper you
An exclusively designed club, one of the biggest in Central India, will pamper you and your family with lavish facilities. The club is built in an area of about 2.5 acres and will offer a whole new world of leisure activities. Whenever you'll want to take time out from your busy life and schedules, you'll end up feeling naturally relaxed and rejuvenated at the club. This world-class clubbing facility will cater to the leisure needs of its members.
Discover the new face of Indore at Gardencity
Gardencity, New Indore brings a cosmopolitan lifestyle to Indore with homes equipped with all modern facilities, catering to people aspiring a luxurious lifestyle.
The lush green 82 acres of Gardencity offers plots in various sizes ranging from 1800 sq.ft. to 3600 sq. ft. enveloped by open spaces.
It also boasts of a world-class club, international school for your child's future, a fully equipped 100 plus bed Fortis Hospital, shopping complex and a shopping mall with multiplex right on the AB Bye-Pass Road.
IPTV ready for enhanced entertainment.
Power distribution through underground cabling.
Discover a new world of leisure and lifestyle near you
A stress free life awaits you when you enter Gardencity, New Indore. Located in the midst of green gardens where peace and tranquility prevails, every moment spent here will complement healthy living. State-of-the-art facilities like swimming pool, gymnasium, tennis & squash courts and pool side café, truly gives 'leisure' a new dimension. Besides, you can also engage yourself in a refreshing morning jog or make yourevenings delightful at the community centre. What's more, you can also enjoy the advantage of being located in the midst of nature. Along with other modern amenities, this place is a perfect retreat to calm your senses.
Subject to terms and conditions.
For more info log on to http://www.zameen-zaidad.com/DLF-Garden-City.aspx
Thursday, December 10, 2009
Dreamline Clolnizers & Developers develop new Residential Apartments in jaipur
Project Name The Residency Jaipur
Name of Builder Dreamline Clolnizers & Developers
Project Type Residential Apartments
Price As below
Location Jaipur
Agent Shri Aditya Estates 42470622, 9810445860
The jaipur Residency is Residential Apartment located at Diggi-Malpura Road, Teh-Phagi, Jaipur. This Residential Apartments Scheme is hardly 7 minute drive from The J.D.A. Residential Scheme, Rohini Nagar Phase- 1 and 2. River Dhund is also flowing near by 'The Jaipur Residency. Here you can admire the beauty of nature. This is a perfect place to relax in weekends after those busy working days. So throw yourself into the lap of nature and experience the divine peace and rejuvenate your body and soul.
About The Jaipur Residency Residential Apartments
Eco friendly & Green Environment Gated Project
24 hours water supply
Free hold Farm House available in various sizes in this Apartments
Club House
Swimming Pool
Round the Clock Security
Mega Park with water body
Wide road for easy approach
Religious place
For more info log on to http://www.zameen-zaidad.com/the-residency-jaipur.aspx
Name of Builder Dreamline Clolnizers & Developers
Project Type Residential Apartments
Price As below
Location Jaipur
Agent Shri Aditya Estates 42470622, 9810445860
The jaipur Residency is Residential Apartment located at Diggi-Malpura Road, Teh-Phagi, Jaipur. This Residential Apartments Scheme is hardly 7 minute drive from The J.D.A. Residential Scheme, Rohini Nagar Phase- 1 and 2. River Dhund is also flowing near by 'The Jaipur Residency. Here you can admire the beauty of nature. This is a perfect place to relax in weekends after those busy working days. So throw yourself into the lap of nature and experience the divine peace and rejuvenate your body and soul.
About The Jaipur Residency Residential Apartments
Eco friendly & Green Environment Gated Project
24 hours water supply
Free hold Farm House available in various sizes in this Apartments
Club House
Swimming Pool
Round the Clock Security
Mega Park with water body
Wide road for easy approach
Religious place
For more info log on to http://www.zameen-zaidad.com/the-residency-jaipur.aspx
Parsavnath Developers Ltd Develop new Residential Apartment in Lucknow
Project Name Parsvnath Planet
Name of Builder Parsvnath Developers Ltd..
Project Type Residential Apartments
Price Rs.2050@sq.ft(3BR & 4BR)
Location Lucknow (UttarPradesh)
Price List Type of Unit Accommodation Saleable Area (Sq.Ft.) Basic Rate Per Sq.Ft. (Rs.) Down Payment Rate Per Sq.Ft. with 6% rebate (Rs.) 3 BR 3 Bedrooms, Living Room, Dining Room, Kitchen, 3 Toilets(1 Toilet with Dresser), Entrance Foyer, Lobby, Loft & 3 Balconies
1675 2200 2068
3 BR+S 3 Bedrooms, Living Room, Dining Room Kitchen, 3 Toilets(1 Toilet with Dresser), Entrance Foyer, Lobby, Loft & 3 Balconies & Servant Room with Toilet 1775
4 BR 4 Bedrooms, Living Room, Dining Room, Kitchen, 4 Toilets(2 Toilets with Dresser) Entrance Foyer & 3 Balconies 2050
4 BR+S 4 Bedrooms, Living Room, Dining Room, Kitchen, 4 Toilets (2 Toilets with Dresser) Entrance Foyer, 3 Balconies & Servant Room with Toilet 2175
3 BR Bridging 3 Bedrooms, Living Room, Dining Room, Kitchen, 3 Toilets(1 Toilet with Dresser), TV Room, Entrance Foyer, Lobby, Loft, 3 Balconies 1790
3 BR Bridging 3 Bedrooms, Living Room, Dining Room, Kitchen, 3 Toilets(1 Toilet with Dresser), Store, Entrance Foyer, Lobby, Loft, 3 Balconies 1875
3 BR+S Bridging 3 Bedrooms, Living Room, Dining Room, Kitchen, 3 Toilets(1 Toilet with Dresser), TV Room, Entrance Foyer, Lobby, Loft, 3 Balconies and Servant Room with Toilet
1890
3BR+S Bridging 3 Bedrooms, Living Room, Dining Room, Kitchen, 3 Toilets(1 Toilet with Dresser) Store, Entrance Foyer, Lobby, Loft , 3 Balconies and Servant Room with Toilet 1975
4 BR+S PH 4 Bedrooms, Living Room, Dining Room, Kitchen, 4 Toilets(2 Toilets with Dresser), Powder Room, Lobby, Entrance Foyer, Utility Balcony, Servant Room with Toilet & Terrace of 452 Sq.Ft. 3025
4BR+S Bridging PH 4 Bedrooms, Living Room, Dining Room, Kitchen, 4 Toilets(2 Toilets with Dresser), Family Lounge, Lobby, Utility Balcony, Entrance Foyer, Servant Room with Toilet & Terrace of 452+ 291Sq.ft. 3300
4 BR+S PH 4 Bedrooms, Living Room, Dining Room, Kitchen, 4 Toilets (2 Toilet with Dresser), Family Lounge, Study, Entrance Foyer, 2 Balconies, Servant Room with Toilet & Terrace of 540+ 145 Sq.Ft. 3725
For more info log on to http://www.zameen-zaidad.com/parsvnath-planet-lucknow.aspx
Name of Builder Parsvnath Developers Ltd..
Project Type Residential Apartments
Price Rs.2050@sq.ft(3BR & 4BR)
Location Lucknow (UttarPradesh)
Price List Type of Unit Accommodation Saleable Area (Sq.Ft.) Basic Rate Per Sq.Ft. (Rs.) Down Payment Rate Per Sq.Ft. with 6% rebate (Rs.) 3 BR 3 Bedrooms, Living Room, Dining Room, Kitchen, 3 Toilets(1 Toilet with Dresser), Entrance Foyer, Lobby, Loft & 3 Balconies
1675 2200 2068
3 BR+S 3 Bedrooms, Living Room, Dining Room Kitchen, 3 Toilets(1 Toilet with Dresser), Entrance Foyer, Lobby, Loft & 3 Balconies & Servant Room with Toilet 1775
4 BR 4 Bedrooms, Living Room, Dining Room, Kitchen, 4 Toilets(2 Toilets with Dresser) Entrance Foyer & 3 Balconies 2050
4 BR+S 4 Bedrooms, Living Room, Dining Room, Kitchen, 4 Toilets (2 Toilets with Dresser) Entrance Foyer, 3 Balconies & Servant Room with Toilet 2175
3 BR Bridging 3 Bedrooms, Living Room, Dining Room, Kitchen, 3 Toilets(1 Toilet with Dresser), TV Room, Entrance Foyer, Lobby, Loft, 3 Balconies 1790
3 BR Bridging 3 Bedrooms, Living Room, Dining Room, Kitchen, 3 Toilets(1 Toilet with Dresser), Store, Entrance Foyer, Lobby, Loft, 3 Balconies 1875
3 BR+S Bridging 3 Bedrooms, Living Room, Dining Room, Kitchen, 3 Toilets(1 Toilet with Dresser), TV Room, Entrance Foyer, Lobby, Loft, 3 Balconies and Servant Room with Toilet
1890
3BR+S Bridging 3 Bedrooms, Living Room, Dining Room, Kitchen, 3 Toilets(1 Toilet with Dresser) Store, Entrance Foyer, Lobby, Loft , 3 Balconies and Servant Room with Toilet 1975
4 BR+S PH 4 Bedrooms, Living Room, Dining Room, Kitchen, 4 Toilets(2 Toilets with Dresser), Powder Room, Lobby, Entrance Foyer, Utility Balcony, Servant Room with Toilet & Terrace of 452 Sq.Ft. 3025
4BR+S Bridging PH 4 Bedrooms, Living Room, Dining Room, Kitchen, 4 Toilets(2 Toilets with Dresser), Family Lounge, Lobby, Utility Balcony, Entrance Foyer, Servant Room with Toilet & Terrace of 452+ 291Sq.ft. 3300
4 BR+S PH 4 Bedrooms, Living Room, Dining Room, Kitchen, 4 Toilets (2 Toilet with Dresser), Family Lounge, Study, Entrance Foyer, 2 Balconies, Servant Room with Toilet & Terrace of 540+ 145 Sq.Ft. 3725
For more info log on to http://www.zameen-zaidad.com/parsvnath-planet-lucknow.aspx
Wednesday, December 9, 2009
MSEZ WITHDRAWS LAND ACQUISITION PETITION IN SC
In a development that could mark the end of Reliance Industries CMD Mukesh Ambani’s dream to build India’s biggest special export zone near Mumbai, Mumbai SEZ (MSEZ) is learnt to have withdrawn its review petition before the Supreme Court that sought to expedite land acquisition for its Maha Mumbai SEZ.
MSEZ’s decision to pull out its petition comes in the wake of the SEZ board of approval (BoA) refusing the company a further time extension for the land acquisition. The BoA recently directed the company to approach the Maharashtra government to begin the entire process afresh after it failed to mop up enough land within the stipulated timeframe. In June 2009, the SC order refusing to stay a Bombay High Court decision that declined to give any directive to state authorities to speed up land acquisition for the 10,000-hectare project came as a setback for the company. The Ambanipromoted MSEZ wanted the high court to direct the Raigad district administration to complete the land acquisition before the June 6 deadline under the Land Acquisition Act. It noted that the district authorities had not completed the process even two years after the Maharashtra government allowed the company to set up a multiproduct SEZ in the region.
The HC refused to grant relief by an order on May 22, 2009, against which the company filed an appeal before the SC. The apex court too in the first week of June rejected the company’s demand to stay the HC ruling. In its petition, Mumbai SEZ submitted that the HC failed to appreciate that the district collector was duty-bound to pass a consent award within two years of the land acquisition notification dated June 8, 2007, after declaration under Section. 6 of the Land Acquisition Act in cases where land owners had voluntarily consented for sale of their land and entered into sale agreements. The consent awards must be passed before June 8, 2009. If not, the entire acquisition proceedings would lapse, causing grave financial loss to the petitioners who had already invested Rs 600 crore in the project, the petition noted.
Though the SC rejected the demand, it allowed the company to file a review petition which was subsequently submitted. This has now been withdrawn by the company.
Courtesy:- ET dt:- 08/12/2009
MSEZ’s decision to pull out its petition comes in the wake of the SEZ board of approval (BoA) refusing the company a further time extension for the land acquisition. The BoA recently directed the company to approach the Maharashtra government to begin the entire process afresh after it failed to mop up enough land within the stipulated timeframe. In June 2009, the SC order refusing to stay a Bombay High Court decision that declined to give any directive to state authorities to speed up land acquisition for the 10,000-hectare project came as a setback for the company. The Ambanipromoted MSEZ wanted the high court to direct the Raigad district administration to complete the land acquisition before the June 6 deadline under the Land Acquisition Act. It noted that the district authorities had not completed the process even two years after the Maharashtra government allowed the company to set up a multiproduct SEZ in the region.
The HC refused to grant relief by an order on May 22, 2009, against which the company filed an appeal before the SC. The apex court too in the first week of June rejected the company’s demand to stay the HC ruling. In its petition, Mumbai SEZ submitted that the HC failed to appreciate that the district collector was duty-bound to pass a consent award within two years of the land acquisition notification dated June 8, 2007, after declaration under Section. 6 of the Land Acquisition Act in cases where land owners had voluntarily consented for sale of their land and entered into sale agreements. The consent awards must be passed before June 8, 2009. If not, the entire acquisition proceedings would lapse, causing grave financial loss to the petitioners who had already invested Rs 600 crore in the project, the petition noted.
Though the SC rejected the demand, it allowed the company to file a review petition which was subsequently submitted. This has now been withdrawn by the company.
Courtesy:- ET dt:- 08/12/2009
RETAIL SECTOR TO GROW TO $410 B BY 2010: ASSOCHAM
The Indian retail sector is expected to grow at a rate of 5.5% to $410 billion (around Rs 19,03,844 crore) by 2010 from the present about $300 billion, Assocham said on Monday. The chamber said that organized retail, which at present accounts for nearly 5 per cent of the overall retail market, is likely to touch $13 billion (around Rs 60,375 crore) by 2010 from $9.23 billion (around Rs 42,000 crore) currently. "The size of Indian retail sector is estimated to grow by a compound annual growth rate of 5.5%, to become $410 billion market by 2010," it said.
Courtesy:- ET dt:- 08/12/2009
Courtesy:- ET dt:- 08/12/2009
Thursday, December 3, 2009
Make your home loan process simple
Are you planning to go in for a home loan in the near future? Kavita Sriram has a step-by-step guide to make the process of availing a home loan easy
The process of acquiring a home loan is a long one. Here is a step-by-step guide that can help a prospective homebuyer.
Formal application
The process of acquiring a home loan starts off with an application supported with necessary documents. Some banks charge a processing fee at the time of applying for a loan. This fee is usually a non-refundable amount of around 0.5 percent of the loan amount. Most lenders seek personal details, income information and details about your education, property and estimated purchase cost in the application form.
Documents for proof
The home loan applicant is expected to furnish certain valid documents as proof.
Some documents needed:
• Certificate of income
• Proof of age
• Photo ID
• Continuity of service
• Residence address proof
• Employment details
• Educational qualifications
• Property to be purchased
• Bank account details
Verification of application
The bank conducts an elaborate verification on creditworthiness, and on issues such as previous defaults and other debts. Depending on your income level and financial condition, the lender computes your loan eligibility. If the bank suspects your repayment capacity or if the information given by you is incorrect, your loan application may be turned down.
Property evaluation
Experts visit and evaluate the property you intend to purchase. Banks usually have a team of legal experts who make legal verifications of documents. A home loan is a secured loan where the property you intend to purchase is used as collateral. Hence, the lender conducts technical valuations and monitors the various stages of construction through the tenure of the loan.
Home loan agreement
The lender sends an offer letter that contains details of the loan amount sanctioned, interest rate applicable, tenure, repayment options and terms and conditions associated with the home loan. The applicant must read the loan agreement carefully and sign it if he has no objections to it. Apart from post-dated cheques that must be submitted to the lender, the applicant must pay stamp duty and other fees.
The original property documents are retained with the lender till the loan amount is repaid by the borrower.
Loan disbursement
After the home loan agreement is signed, the loan disbursal process begins. There may be slight variations in the process/sequence from lender to lender.
Identify the right property that is free of litigations and is located in a good neighbourhood. Then select a good lender who offers low rates and doesn't levy heavy penalties and fees. If you have all documents in order and no previous history of defaults, getting a home loan will not be an ordeal at all.
Courtesy:- FT dt:- 22/11/2009
The process of acquiring a home loan is a long one. Here is a step-by-step guide that can help a prospective homebuyer.
Formal application
The process of acquiring a home loan starts off with an application supported with necessary documents. Some banks charge a processing fee at the time of applying for a loan. This fee is usually a non-refundable amount of around 0.5 percent of the loan amount. Most lenders seek personal details, income information and details about your education, property and estimated purchase cost in the application form.
Documents for proof
The home loan applicant is expected to furnish certain valid documents as proof.
Some documents needed:
• Certificate of income
• Proof of age
• Photo ID
• Continuity of service
• Residence address proof
• Employment details
• Educational qualifications
• Property to be purchased
• Bank account details
Verification of application
The bank conducts an elaborate verification on creditworthiness, and on issues such as previous defaults and other debts. Depending on your income level and financial condition, the lender computes your loan eligibility. If the bank suspects your repayment capacity or if the information given by you is incorrect, your loan application may be turned down.
Property evaluation
Experts visit and evaluate the property you intend to purchase. Banks usually have a team of legal experts who make legal verifications of documents. A home loan is a secured loan where the property you intend to purchase is used as collateral. Hence, the lender conducts technical valuations and monitors the various stages of construction through the tenure of the loan.
Home loan agreement
The lender sends an offer letter that contains details of the loan amount sanctioned, interest rate applicable, tenure, repayment options and terms and conditions associated with the home loan. The applicant must read the loan agreement carefully and sign it if he has no objections to it. Apart from post-dated cheques that must be submitted to the lender, the applicant must pay stamp duty and other fees.
The original property documents are retained with the lender till the loan amount is repaid by the borrower.
Loan disbursement
After the home loan agreement is signed, the loan disbursal process begins. There may be slight variations in the process/sequence from lender to lender.
Identify the right property that is free of litigations and is located in a good neighbourhood. Then select a good lender who offers low rates and doesn't levy heavy penalties and fees. If you have all documents in order and no previous history of defaults, getting a home loan will not be an ordeal at all.
Courtesy:- FT dt:- 22/11/2009
PERK UP REALTY
With the real estate sector gradually emerging from the pangs of recession, there is need to create a mechanism to put the sector back on the growth track and avoid pitfalls Sandeep Rai
The recent global financial meltdown has completely shocked the world even though the Indian economy as a whole has largely been insulated against global economy slowdown. Despite that, the Indian real estate sector had been severely hit in the mayhem. Nevertheless, there have been some improvements in the market sentiments now and lot needs to be done to ensure the growth reaches its original momentum. Now we expect that normal buying cycle is back. But there are certain concerns. This is the time when the real estate market will witness fundamental change for now buyer will look for need based accommodation. He will be highly cautious and choose on the basis of performance rather than euphoria. With the focus shifted to affordable housing, the real estate sector will now speak more about volumes. As per Dr. M. Ramachandran, secretary, ministry of urban development, "There is a dearth of more than 24 million low cost households in the country", which is actually a whopping figure. The major question that arises in this context is of availability of land which according to the sector pundits is a scarce commodity by all means. Nevertheless, there are a few who do not agree that land is not available for development. According to Anshuman Magazine, CMD, CBRE India, "There is a general perception that there is shortage of land for urban or low cost housing development but the fact is that still we are using only a very small percentage of land. And I am of the opinion that there is enough land available. All we have to do is to create good infrastructure. The more the infrastructure is developed, the more the land can be brought in to use for development. And infrastructure here does not only mean roads and bridges but includes schools, hospitals, social infrastructure, etc., and that's where the government can play a major role. Second thing is the availability of low interest capital both for buyer and developer which will obviously allow more people in the range who can afford to borrow money to buy and this consumption will bring in more supply."
The second major concern has been the pricing. According to Jaipal Reddy, "We had real estate boom with mind boggling prices and we had a slowdown, but, part of this slowdown was caused by the rush of real estate companies for top end apartments and buildings." With complete focus on niche segment, the household prices hit the roof, a mistake the sector cannot afford to repeat. According to Rohtas Goel, president, NAREDCO, "To overcome the challenges, the real estate developers have already bottomed out the prices and have not only launched affordable housing but have also revisited their ongoing projects and redesigned them into affordable models. Now developers have started working on water thin margins and are also ready to work hand in hand with the government to achieve its social objective of providing housing for all through public-private partnership as a mission." However, to fulfill this task what is needed is a consensus model which will be ideal, transparent, workable and implementable and that will be of interest to all the stakeholders. Well there has been some focus of the government in introducing reforms, yet, to revive the real estate sector much is left to be done to increase the pace of growth and to fulfill the dreams of millions of houseless in India and the motto of government for housing for all there is need for government to provide some more relaxations at this point of time. Sums up Goel, "Given the demand and emphasis of the government on affordable housing, there is a need to re-introduce section 80IB10. Under the section a developer gets tax benefits if he constructs the property in four years time. It is requested to increase the time frame since these are the times of recession and developers find it increasingly difficult to complete construct within the allowed time frame. Government needs to take a re-look into the direct tax code which is likely to be introduced in 2011. And since it has certain negative points for individual buyers such as abolition of benefits under 80C for the return of housing loan, discontinuance of benefits under IT act for self occupied property, etc., encourage states to reduce stamp duty to 5% and provide a system of credit for each stage of sale. At this point of time every transaction has a stamp duty. If some property is sold at Rs. 10 lakhs and in the next stage it is sold at 15 lakh rupees so the levy should be on Rs. 5 lakhs and not on Rs. 15 lakh, since tax on Rs. 10 lakhs has already been levied. Similarly the custom duty on capital equipment used in construction should be reduced from 8% to 4%."
Courtesy:- TOI dt:- 20/11/2009
The recent global financial meltdown has completely shocked the world even though the Indian economy as a whole has largely been insulated against global economy slowdown. Despite that, the Indian real estate sector had been severely hit in the mayhem. Nevertheless, there have been some improvements in the market sentiments now and lot needs to be done to ensure the growth reaches its original momentum. Now we expect that normal buying cycle is back. But there are certain concerns. This is the time when the real estate market will witness fundamental change for now buyer will look for need based accommodation. He will be highly cautious and choose on the basis of performance rather than euphoria. With the focus shifted to affordable housing, the real estate sector will now speak more about volumes. As per Dr. M. Ramachandran, secretary, ministry of urban development, "There is a dearth of more than 24 million low cost households in the country", which is actually a whopping figure. The major question that arises in this context is of availability of land which according to the sector pundits is a scarce commodity by all means. Nevertheless, there are a few who do not agree that land is not available for development. According to Anshuman Magazine, CMD, CBRE India, "There is a general perception that there is shortage of land for urban or low cost housing development but the fact is that still we are using only a very small percentage of land. And I am of the opinion that there is enough land available. All we have to do is to create good infrastructure. The more the infrastructure is developed, the more the land can be brought in to use for development. And infrastructure here does not only mean roads and bridges but includes schools, hospitals, social infrastructure, etc., and that's where the government can play a major role. Second thing is the availability of low interest capital both for buyer and developer which will obviously allow more people in the range who can afford to borrow money to buy and this consumption will bring in more supply."
The second major concern has been the pricing. According to Jaipal Reddy, "We had real estate boom with mind boggling prices and we had a slowdown, but, part of this slowdown was caused by the rush of real estate companies for top end apartments and buildings." With complete focus on niche segment, the household prices hit the roof, a mistake the sector cannot afford to repeat. According to Rohtas Goel, president, NAREDCO, "To overcome the challenges, the real estate developers have already bottomed out the prices and have not only launched affordable housing but have also revisited their ongoing projects and redesigned them into affordable models. Now developers have started working on water thin margins and are also ready to work hand in hand with the government to achieve its social objective of providing housing for all through public-private partnership as a mission." However, to fulfill this task what is needed is a consensus model which will be ideal, transparent, workable and implementable and that will be of interest to all the stakeholders. Well there has been some focus of the government in introducing reforms, yet, to revive the real estate sector much is left to be done to increase the pace of growth and to fulfill the dreams of millions of houseless in India and the motto of government for housing for all there is need for government to provide some more relaxations at this point of time. Sums up Goel, "Given the demand and emphasis of the government on affordable housing, there is a need to re-introduce section 80IB10. Under the section a developer gets tax benefits if he constructs the property in four years time. It is requested to increase the time frame since these are the times of recession and developers find it increasingly difficult to complete construct within the allowed time frame. Government needs to take a re-look into the direct tax code which is likely to be introduced in 2011. And since it has certain negative points for individual buyers such as abolition of benefits under 80C for the return of housing loan, discontinuance of benefits under IT act for self occupied property, etc., encourage states to reduce stamp duty to 5% and provide a system of credit for each stage of sale. At this point of time every transaction has a stamp duty. If some property is sold at Rs. 10 lakhs and in the next stage it is sold at 15 lakh rupees so the levy should be on Rs. 5 lakhs and not on Rs. 15 lakh, since tax on Rs. 10 lakhs has already been levied. Similarly the custom duty on capital equipment used in construction should be reduced from 8% to 4%."
Courtesy:- TOI dt:- 20/11/2009
Tuesday, December 1, 2009
TAX REBATE ON HOME LOAN INTEREST
The interest component of home loan repayment can be deducted from income while computing your tax liability, says Ashish Gupta
Under the Income Tax Act, interest on a home loan is tax deductible provided the specified conditions are complied with. The deduction is available while computing income under the head ‘Income from House Property’. Deduction on interest paid is available even if the house is not rented out and is either lying vacant or has been self-occupied.
The relevant provisions are contained under Section 24 of the Income Tax Act. The loan should be taken for construction, acquisition, repair or reconstruction of property. The main condition is the assessee should borrow the money for housing purposes. The interest should be payable on the borrowed capital.
For the purpose of computing income or loss under the head ‘Income from House Property’ for a self-occupied house, a normal deduction of Rs 30,000 is allowed in respect of interest on borrowed capital. However, a deduction on interest up to a maximum limit of Rs 1.5 lakhs is available if the loan has been taken on or after April 1, 1999 to construct or buy a house. The construction or acquisition of the house should have been completed within three years from the end of the financial year in which the capital was borrowed.
This higher deduction is not allowed for interest on capital borrowed for the purposes of repairs or renovation of an existing house. To claim the higher deduction, the assessee should furnish a certificate from the bank on the capital borrowed, specifying the amount of interest payable, and the purpose - construction or acquisition.
The two essential conditions necessary for availing the higher deduction are the amount must have been borrowed on or after April 1, 1999 and the acquisition or construction of the house
must have been completed within three years from the end of the financial year in which the capital was borrowed. There is no stipulation regarding the date of commencement of construction. Consequently, the construction of the house could have commenced before April 1, 1999 too. As long as the construction or acquisition is completed within three years from the end of the financial year in which the capital was borrowed, the higher deduction is available. It is also to be noted that there is no stipulation regarding the construction or acquisition of the house being entirely financed by capital borrowed on or after April 1, 1999. A loan taken prior to April 1, 1999 will carry a deduction of interest up to Rs 30,000 only. However, in any case, the total amount of deduction of interest on borrowed capital cannot exceed Rs 1.5 lakhs in a year.
In case a property has been acquired or constructed with borrowed capital, the interest payable on the amount borrowed for the period prior to the previous year in which the property has been acquired or constructed is also eligible for deduction. The interest is deductible in five equal instalments commencing from the previous year in which the house has been acquired or constructed. The first instalment is deductible in the year in which the construction of the property is completed or the property is acquired. The balance four instalments are deductible in the four subsequent years.
The interest is allowed as a deduction on accrual basis i.e. on due basis. It is not necessary that it should have been actually been paid during the year. Under the Income Tax Act, only the person who has taken the loan can claim tax rebates.
Courtesy:- TOI dt:- 21/11/2009
Under the Income Tax Act, interest on a home loan is tax deductible provided the specified conditions are complied with. The deduction is available while computing income under the head ‘Income from House Property’. Deduction on interest paid is available even if the house is not rented out and is either lying vacant or has been self-occupied.
The relevant provisions are contained under Section 24 of the Income Tax Act. The loan should be taken for construction, acquisition, repair or reconstruction of property. The main condition is the assessee should borrow the money for housing purposes. The interest should be payable on the borrowed capital.
For the purpose of computing income or loss under the head ‘Income from House Property’ for a self-occupied house, a normal deduction of Rs 30,000 is allowed in respect of interest on borrowed capital. However, a deduction on interest up to a maximum limit of Rs 1.5 lakhs is available if the loan has been taken on or after April 1, 1999 to construct or buy a house. The construction or acquisition of the house should have been completed within three years from the end of the financial year in which the capital was borrowed.
This higher deduction is not allowed for interest on capital borrowed for the purposes of repairs or renovation of an existing house. To claim the higher deduction, the assessee should furnish a certificate from the bank on the capital borrowed, specifying the amount of interest payable, and the purpose - construction or acquisition.
The two essential conditions necessary for availing the higher deduction are the amount must have been borrowed on or after April 1, 1999 and the acquisition or construction of the house
must have been completed within three years from the end of the financial year in which the capital was borrowed. There is no stipulation regarding the date of commencement of construction. Consequently, the construction of the house could have commenced before April 1, 1999 too. As long as the construction or acquisition is completed within three years from the end of the financial year in which the capital was borrowed, the higher deduction is available. It is also to be noted that there is no stipulation regarding the construction or acquisition of the house being entirely financed by capital borrowed on or after April 1, 1999. A loan taken prior to April 1, 1999 will carry a deduction of interest up to Rs 30,000 only. However, in any case, the total amount of deduction of interest on borrowed capital cannot exceed Rs 1.5 lakhs in a year.
In case a property has been acquired or constructed with borrowed capital, the interest payable on the amount borrowed for the period prior to the previous year in which the property has been acquired or constructed is also eligible for deduction. The interest is deductible in five equal instalments commencing from the previous year in which the house has been acquired or constructed. The first instalment is deductible in the year in which the construction of the property is completed or the property is acquired. The balance four instalments are deductible in the four subsequent years.
The interest is allowed as a deduction on accrual basis i.e. on due basis. It is not necessary that it should have been actually been paid during the year. Under the Income Tax Act, only the person who has taken the loan can claim tax rebates.
Courtesy:- TOI dt:- 21/11/2009
VARDHMAN GROUP TO FORAY INTO HOSPITALITY, FOODS BIZ
Real estate developer Vardhman Group on Sunday said it has incorporated two separate entities to foray into the hospitality and food segments. "We have started two entities - Vardhman Fantasy and Vardhman Foods. Vardhman Fantasy will take care of the hospitality part," Vardhman Group's managing director Rajesh Vardhan said here.
Courtesy:- ET dt:- 23/11/2009
Courtesy:- ET dt:- 23/11/2009
Monday, November 30, 2009
NITESH ESTATES PLANS TO RAISE RS 1KCR VIA SPV SHARE SALE
Bangalore based real estate developer Nitesh Estates is learnt to have planned to raise nearly Rs 1,000 crore through sale of shares of a special purpose vehicle (SPV) to finance setting up Ritz Carlton hotel in Chennai.
A person close to the matter said the hotel SPV would sell shares to private equity investors prior to its listing with a foreign stock exchange, preferably Singapore or London. The company would dilute over 70% stake through stake sale and foreign listing, he added. While this buzz is doing the rounds all over, executive director LS Vaidyanathan refused to comment on the issue.
Last week, the company entered into an agreement with US-based Ritz Carlton, a wholly owned subsidiary of Marriott International, to set up a 200-room hotel and 80 serviced residences in Chennai. The project, which will be located on 9 acres of land in Chennai's posh Boat Club area, will also have one lakh sq ft of luxury retail space. The cost of the project is estimated to be around 1500 crore.
It is believed that the company is also working with the foreign company to develop a hotel in Bangalore in next two years. This is going to be another prime project of the company.
Daiwa Securities and Nomura are learnt to be in discussions with Nitesh Estates for the overseas listing of the SPV in next six months.
Meanwhile, the company is also expected to hit the market with a Rs 550 crore initial public offer (IPO) in January. It has learnt to have appointed Morgan Stanley, Enam, Kotak and JM Financial as advisors to the IPO. It might divest anywhere around 35% stake through the IPO.
Courtesy:- ET dt:- 20-11-2009
A person close to the matter said the hotel SPV would sell shares to private equity investors prior to its listing with a foreign stock exchange, preferably Singapore or London. The company would dilute over 70% stake through stake sale and foreign listing, he added. While this buzz is doing the rounds all over, executive director LS Vaidyanathan refused to comment on the issue.
Last week, the company entered into an agreement with US-based Ritz Carlton, a wholly owned subsidiary of Marriott International, to set up a 200-room hotel and 80 serviced residences in Chennai. The project, which will be located on 9 acres of land in Chennai's posh Boat Club area, will also have one lakh sq ft of luxury retail space. The cost of the project is estimated to be around 1500 crore.
It is believed that the company is also working with the foreign company to develop a hotel in Bangalore in next two years. This is going to be another prime project of the company.
Daiwa Securities and Nomura are learnt to be in discussions with Nitesh Estates for the overseas listing of the SPV in next six months.
Meanwhile, the company is also expected to hit the market with a Rs 550 crore initial public offer (IPO) in January. It has learnt to have appointed Morgan Stanley, Enam, Kotak and JM Financial as advisors to the IPO. It might divest anywhere around 35% stake through the IPO.
Courtesy:- ET dt:- 20-11-2009
Sunday, November 29, 2009
AVAIL TAX BENEFITS WITH JOINT OWNERSHIP
Tax benefits on home loans have turned out to be an important aspect of home buying. Here's how you can benefit from the same
TAX BREAKS
For self-occupied house property, the annual value of the house property is considered to be nil. Further, an individual could claim a deduction for the interest paid on the home loan (for purchase or construction) up to Rs 1.5 lakh, subject to certain conditions. This would result in a loss under the head house property of up to Rs 1.5 lakh, which could be set off against other income. If the property is let out, the actual amount of housing loan interest, without limit, could be claimed as deduction. Also, an individual can claim a deduction up to Rs 100,000 for repayment of the principal amount U/S 80C of the Income Tax Act, 1961.
JOINT BENEFITS
This advantage gets multiplied if the property is acquired in a joint name, as each individual is entitled to claim tax benefits. Thus, if a husband and wife have a property with equal share, both are entitled to claim these deductions. There is no restriction as to who the co-owner should be and there is no limit on the number of joint owners. Property can be jointly owned with your spouse, brother or parents.
Here, the following points merit consideration: First, the house should be bought in the joint name and proof of co ownership should be maintained. Second, the housing loan should also be taken in joint names.
The repayment of loan should preferably be made individually by the co-owners directly, if feasible, or from a joint bank account in which funds for repayment of loan should be contributed by the co-owners in proportion to their ownership/loan. All the co-owners should have their independent income sources from which the loans are re-paid.
Typically, the tax benefits are available in proportion to thejoint ownership and the loan taken by the co owners.
ADDITIONAL BENEFITS
Buying a house jointly facilitates a larger loan as income of all the co owners would be considered by the lenders. Also, in many states, a lower property registration fee is levied in case the property is owned by women either individually or jointly. Further, in case of husband and wife, joint ownership also helps reduce succession issues.
A point to be noted here is that under the proposed Direct Tax Code, these tax benefits are proposed to be restricted. Till then, however, one can enjoy the same.
Remember the above points and avail a good tax benefit!
Courtesy:- ET dt:-20-11-2009
TAX BREAKS
For self-occupied house property, the annual value of the house property is considered to be nil. Further, an individual could claim a deduction for the interest paid on the home loan (for purchase or construction) up to Rs 1.5 lakh, subject to certain conditions. This would result in a loss under the head house property of up to Rs 1.5 lakh, which could be set off against other income. If the property is let out, the actual amount of housing loan interest, without limit, could be claimed as deduction. Also, an individual can claim a deduction up to Rs 100,000 for repayment of the principal amount U/S 80C of the Income Tax Act, 1961.
JOINT BENEFITS
This advantage gets multiplied if the property is acquired in a joint name, as each individual is entitled to claim tax benefits. Thus, if a husband and wife have a property with equal share, both are entitled to claim these deductions. There is no restriction as to who the co-owner should be and there is no limit on the number of joint owners. Property can be jointly owned with your spouse, brother or parents.
Here, the following points merit consideration: First, the house should be bought in the joint name and proof of co ownership should be maintained. Second, the housing loan should also be taken in joint names.
The repayment of loan should preferably be made individually by the co-owners directly, if feasible, or from a joint bank account in which funds for repayment of loan should be contributed by the co-owners in proportion to their ownership/loan. All the co-owners should have their independent income sources from which the loans are re-paid.
Typically, the tax benefits are available in proportion to thejoint ownership and the loan taken by the co owners.
ADDITIONAL BENEFITS
Buying a house jointly facilitates a larger loan as income of all the co owners would be considered by the lenders. Also, in many states, a lower property registration fee is levied in case the property is owned by women either individually or jointly. Further, in case of husband and wife, joint ownership also helps reduce succession issues.
A point to be noted here is that under the proposed Direct Tax Code, these tax benefits are proposed to be restricted. Till then, however, one can enjoy the same.
Remember the above points and avail a good tax benefit!
Courtesy:- ET dt:-20-11-2009
Thursday, November 26, 2009
OMAXE LIMITED LAUNCHES NEW RESIDENTIAL TOWNSHIP IN INDORE
Welcome to the 21st Century Lifestyle at OMAXE CITY- INDORE An Integrated Township of International Standards .
Would you like to live in an ultra - modern township ?
With everything from residential plots, expandable villas, hospitals, Commercial Complexes and schools. It's far ahead of everything you have seen before. A fine fusion of world-class infrastructure and rich tastes, Omaxe City, for a city like Indore, nothing else would be adequate.
A humble effort to make it a reality
With its new age design and world-class ambience, Omaxe City, Indore is a humble attempt from Omaxe to lay a strong foundation for a Developed India. Located on NH-3, Agra-Bombay bypass, makes it an ideal location to make such a dream into a concrete reality.
Perfection in every structure. Unparalleled elegance for your own home
Omaxe City, Indore is an integrated township comprising plots, independent floors and villas in a sprawling expanse of 89 acres. With all facilities and amenities such as schools, hospital, theme parks, state-of-the-art club, local shopping centre, grocery store and more....all within the township.
* Township duly approved by Town & Country Planning, MP
* Manned security at entry points
* Most luxurious and privileged township for people who have their business and professional interests in Indore and adjoining industrial areas.
All facilities for your day-to-day needs at your doorstep
A city inside a city
* Provision for need based essential services like banks, sub-post office,
* taxi stand, grocery store, super market, etc.
* Provision for gas pipeline
* Hi-tech security system
* Underground cables for telephone, electricity distribution, storm water drains
* & sewer system
* Fibre optic network and e-connectivity
* Efficient power distribution network
* Regulated underground/overhead water supply
* Township maintenance and upkeep by a reputed maintenance agency
* Community Centre
All the facilities for you and your growing child
A Royal Retreat
* Children's play facilities
* Integrated landscaping including theme parks, water bodies
* & water features
* Wide roads with planted pathways & jogging track
Living in complete harmony with Nature
* Afforestation by increasing green cover
* Rainwater harvesting for replenishing ground water
* Environment-friendly waste disposal
* Sewage treatment and incinerators
Provision for exclusive club and community centres with :
# State-of-the-art club with facilities like swimming pool, sauna, steam,
# jacuzzi, etc.
# Shopping Complex
# Food Court and banquet hall
# Recreational facilities including card room & multi-purpose room
# Arrangement for indoor games like squash, cards, billiards, snooker, etc.
# Hi-tech Gymnasium
For more info log on to http://www.zameen-zaidad.com/omaxe-city-indore.aspx
Would you like to live in an ultra - modern township ?
With everything from residential plots, expandable villas, hospitals, Commercial Complexes and schools. It's far ahead of everything you have seen before. A fine fusion of world-class infrastructure and rich tastes, Omaxe City, for a city like Indore, nothing else would be adequate.
A humble effort to make it a reality
With its new age design and world-class ambience, Omaxe City, Indore is a humble attempt from Omaxe to lay a strong foundation for a Developed India. Located on NH-3, Agra-Bombay bypass, makes it an ideal location to make such a dream into a concrete reality.
Perfection in every structure. Unparalleled elegance for your own home
Omaxe City, Indore is an integrated township comprising plots, independent floors and villas in a sprawling expanse of 89 acres. With all facilities and amenities such as schools, hospital, theme parks, state-of-the-art club, local shopping centre, grocery store and more....all within the township.
* Township duly approved by Town & Country Planning, MP
* Manned security at entry points
* Most luxurious and privileged township for people who have their business and professional interests in Indore and adjoining industrial areas.
All facilities for your day-to-day needs at your doorstep
A city inside a city
* Provision for need based essential services like banks, sub-post office,
* taxi stand, grocery store, super market, etc.
* Provision for gas pipeline
* Hi-tech security system
* Underground cables for telephone, electricity distribution, storm water drains
* & sewer system
* Fibre optic network and e-connectivity
* Efficient power distribution network
* Regulated underground/overhead water supply
* Township maintenance and upkeep by a reputed maintenance agency
* Community Centre
All the facilities for you and your growing child
A Royal Retreat
* Children's play facilities
* Integrated landscaping including theme parks, water bodies
* & water features
* Wide roads with planted pathways & jogging track
Living in complete harmony with Nature
* Afforestation by increasing green cover
* Rainwater harvesting for replenishing ground water
* Environment-friendly waste disposal
* Sewage treatment and incinerators
Provision for exclusive club and community centres with :
# State-of-the-art club with facilities like swimming pool, sauna, steam,
# jacuzzi, etc.
# Shopping Complex
# Food Court and banquet hall
# Recreational facilities including card room & multi-purpose room
# Arrangement for indoor games like squash, cards, billiards, snooker, etc.
# Hi-tech Gymnasium
For more info log on to http://www.zameen-zaidad.com/omaxe-city-indore.aspx
PARSVNATH DEVELOPERS LAUNCHES NEW 2BHK, 3BHK LUXURIOUS APARTMENTS IN INDORE
Step into Indore. and be a part of the culture that has its own story to tell, a city which captivates you easily with its charm and flavour. Known as the city of the Holkars, Indore, came to existence when Holkar Rani Ahilya Bai, one of the famous queens of India built it. Located in the Narmada River Valley in the western part of the state of Madhya Pradesh, Indore isan important industrial city of India.
It is also the centre of trade and textile industry and home to many historical monuments and temples. A must visit; Indore is also affectionately called 'Mini Mumbai'.
And it is at this city, another beauty “Parsvnath Premier ”is taking shape. A part of Parsvnath City it's all set to transform and to dress up Indore with a better lifestyle.
Location
• Located at Parsvnath City, Indore
• Strategic Location
• Convenient Connectivity
• Well planned & wide approach roads
• Shopping Mall & Academic Institution
Building and Interior
•2-3 Bedroom Luxury Apartment
• Rich construction specifications
• Vitrified tiles flooring / Dining & bedrooms
• Wooden flooring in master bedroom
Amenities
• Beautifully landscaped complex
• Walkways
• Sit-outs
• Dedicated parking
• Play zone for children
Recreational
• Swimming pool, Sauna and Jacuzzi
• Gym, Billiards & Cards Room
• Tennis & Badminton Court
• Banquet and Conference facilities
Cheque/Bank Draft to be issued in favour of "PARSVNATH DEVELOPERS LTD"., payable at Delhi/New Delhi, Indore only. Outstation cheques shall not be accepted.
Timely payment of installments is the essence of the agreement. However, interest @ 24% p.a. will be charged for delayed payments, if any.
Other terms & conditions of the sale would be as per the standard Allotment Letter/Agreement of the Company.
The above areas include the covered area plus proportionate common areas such as corridors, passages, lifts, lift rooms, staircase, underground and overhead water tanks, mumties etc.
Statutory Taxes, other Government Levies, Stamp Duty & Registration charges to be paid extra, as applicable.
The company would pay penalty to its customer @ Rs.5/- per sq.ft. per month for any delay in handing over the flat beyond the committed period of 36 months from the date of start of foundation of Individual Tower. Similarly customer would be liable to pay holding charges @ Rs.5/- per sq.ft. per month if he fails to take possession within 30 days from the date of issue of offer of possession.
Prices are subject to change without any notice before booking at the sole discretion of the company and the price ruling on the date of booking and acceptance by the Company shall be applicable.
For More info log on to http://www.zameen-zaidad.com/parsvnath-premier-luxurious-apartments-indore.aspx
It is also the centre of trade and textile industry and home to many historical monuments and temples. A must visit; Indore is also affectionately called 'Mini Mumbai'.
And it is at this city, another beauty “Parsvnath Premier ”is taking shape. A part of Parsvnath City it's all set to transform and to dress up Indore with a better lifestyle.
Location
• Located at Parsvnath City, Indore
• Strategic Location
• Convenient Connectivity
• Well planned & wide approach roads
• Shopping Mall & Academic Institution
Building and Interior
•2-3 Bedroom Luxury Apartment
• Rich construction specifications
• Vitrified tiles flooring / Dining & bedrooms
• Wooden flooring in master bedroom
Amenities
• Beautifully landscaped complex
• Walkways
• Sit-outs
• Dedicated parking
• Play zone for children
Recreational
• Swimming pool, Sauna and Jacuzzi
• Gym, Billiards & Cards Room
• Tennis & Badminton Court
• Banquet and Conference facilities
Cheque/Bank Draft to be issued in favour of "PARSVNATH DEVELOPERS LTD"., payable at Delhi/New Delhi, Indore only. Outstation cheques shall not be accepted.
Timely payment of installments is the essence of the agreement. However, interest @ 24% p.a. will be charged for delayed payments, if any.
Other terms & conditions of the sale would be as per the standard Allotment Letter/Agreement of the Company.
The above areas include the covered area plus proportionate common areas such as corridors, passages, lifts, lift rooms, staircase, underground and overhead water tanks, mumties etc.
Statutory Taxes, other Government Levies, Stamp Duty & Registration charges to be paid extra, as applicable.
The company would pay penalty to its customer @ Rs.5/- per sq.ft. per month for any delay in handing over the flat beyond the committed period of 36 months from the date of start of foundation of Individual Tower. Similarly customer would be liable to pay holding charges @ Rs.5/- per sq.ft. per month if he fails to take possession within 30 days from the date of issue of offer of possession.
Prices are subject to change without any notice before booking at the sole discretion of the company and the price ruling on the date of booking and acceptance by the Company shall be applicable.
For More info log on to http://www.zameen-zaidad.com/parsvnath-premier-luxurious-apartments-indore.aspx
Monday, November 23, 2009
ANANTRAJ GROUP LAUNCHES NEW IT SPACE IT PARK IN MANESAR
ARIL is developing an Information Technology Park on land allotted by State Authority of Haryana at Manesar. The project will be developed on “Walk to Work” concept, and will be self sufficient integrated mini-township with all necessary and appurtenant facilities.
The proposed development plans for the aforesaid property includes:
100000 sq. mts. of office, production, commercial, recreation and residential areas
Intelligent Building
24 hours reliable power supply through dedicated substation - 100% back-up through DG sets
Earth station with high bandwidth providing direct connectivity with destinations across the IT City for rapid data transfer
Optical fibers backbone for internet and large volume
Data processing, ISDN and video conferencing with unlimited bandwidth and internet access
2000 line net-based digital telephone exchange expandable to 6000 lines - connected to the central exchange with fiber optical cables
Electronic monitoring system for vigil over fire, air conditioning, water supply, power, elevator and security
Comprehensive security system, fire alarm, fire fighting system, guard patrols, CCTV surveillance and door alarms
Efficient shuttle bus service – toDelhi and other major town
A multi-purpose 1000 seats capacity modem convention center, boardroom for meetings and conferences
Parking bays
For more info log on to http://www.zameen-zaidad.com/it-park-manesar.aspx
The proposed development plans for the aforesaid property includes:
100000 sq. mts. of office, production, commercial, recreation and residential areas
Intelligent Building
24 hours reliable power supply through dedicated substation - 100% back-up through DG sets
Earth station with high bandwidth providing direct connectivity with destinations across the IT City for rapid data transfer
Optical fibers backbone for internet and large volume
Data processing, ISDN and video conferencing with unlimited bandwidth and internet access
2000 line net-based digital telephone exchange expandable to 6000 lines - connected to the central exchange with fiber optical cables
Electronic monitoring system for vigil over fire, air conditioning, water supply, power, elevator and security
Comprehensive security system, fire alarm, fire fighting system, guard patrols, CCTV surveillance and door alarms
Efficient shuttle bus service – toDelhi and other major town
A multi-purpose 1000 seats capacity modem convention center, boardroom for meetings and conferences
Parking bays
For more info log on to http://www.zameen-zaidad.com/it-park-manesar.aspx
Sunday, November 22, 2009
EROS CORPORATE PARK IN MANESAR
Accessibility is undeniably critical to business efficiency. At Eros Corporate Park, you are free from the choked arterial routes leading into Gurgaon. Located on the NH8, it is eminently accessible from Delhi by a new-age 8-lane expressway. So that travel time to the Indira Gandhi International airport is just 20 minutes. Also, the residential Manesar township next door - a boon for your employees - is minutes away via an over-bridge across the highway.
Now you can look far ahead to a business environment that surpasses anything you have considered till today. Eros Corporate Park at Manesar, Gurgaon. A commercial hub which encompasses all the mission-critical factors to drive your business to success. Located in the pulsating Gurgaon hub, the preferred home base in India of a host of multinational corporates, software development centres and BPOs. At Eros Corporate Park, the accent is decidedly on high-tech...high speed...high performance. We've raised the bar to bring you the environment that's future perfect.
At Eros Corporate Park, we have provided state-of-the-art telecommunication links. A high-tech network of fibre optic cables with last mile connectivity across almost five lac square feet of Wi-Fi enabled office and retail space. All to ensure that the day you move in, you can access business opportunities worldwide at high speed, 24x7!
In keeping with the dynamics of global business, Eros Corporate Park takes corporate mobility to another level. A helipad at the IMT business complex will allow you to ferry your VIP visitors by a helicopter. A facility that defines your international workstyle...your high-flying persona.
Eros Corporate Park is supported by infrastructural excellence that makes it a veritable business destination...Conference centre...Shopping arcade...Food court...even a golf course nestling amidst acres and acres of verdant green. Even more, the vast Special Economics Zone (SEZ) that is due to come up right next-door will have a cargo airport and metro rapid transit rail link.
At Eros Corporate Park, we have provided state-of-the-art telecommunication links. A high-tech network of fibre optic cables with last mile connectivity across almost five lac square feet of Wi-Fi enabled office and retail space. All to ensure that the day you move in, you can access business opportunities worldwide at high speed, 24x7!
For more info log on to http://www.zameen-zaidad.com/corpotate-eros-manesar.aspx
Now you can look far ahead to a business environment that surpasses anything you have considered till today. Eros Corporate Park at Manesar, Gurgaon. A commercial hub which encompasses all the mission-critical factors to drive your business to success. Located in the pulsating Gurgaon hub, the preferred home base in India of a host of multinational corporates, software development centres and BPOs. At Eros Corporate Park, the accent is decidedly on high-tech...high speed...high performance. We've raised the bar to bring you the environment that's future perfect.
At Eros Corporate Park, we have provided state-of-the-art telecommunication links. A high-tech network of fibre optic cables with last mile connectivity across almost five lac square feet of Wi-Fi enabled office and retail space. All to ensure that the day you move in, you can access business opportunities worldwide at high speed, 24x7!
In keeping with the dynamics of global business, Eros Corporate Park takes corporate mobility to another level. A helipad at the IMT business complex will allow you to ferry your VIP visitors by a helicopter. A facility that defines your international workstyle...your high-flying persona.
Eros Corporate Park is supported by infrastructural excellence that makes it a veritable business destination...Conference centre...Shopping arcade...Food court...even a golf course nestling amidst acres and acres of verdant green. Even more, the vast Special Economics Zone (SEZ) that is due to come up right next-door will have a cargo airport and metro rapid transit rail link.
At Eros Corporate Park, we have provided state-of-the-art telecommunication links. A high-tech network of fibre optic cables with last mile connectivity across almost five lac square feet of Wi-Fi enabled office and retail space. All to ensure that the day you move in, you can access business opportunities worldwide at high speed, 24x7!
For more info log on to http://www.zameen-zaidad.com/corpotate-eros-manesar.aspx
Tuesday, November 17, 2009
Ramprastha group Launches A new project The View in Gurgaon
Ramprastha Launches “The View” to add luxury to your necessities and to give a touch of “Home Sweet Home”.The View provides luxurious 3 BHK Luxury Affordable Homes at The Ramprastha City Sector 37-D Gurgaon 0 KM from Metro Station on Dwarka Expressway!.Ramprastha Group is a renowned real estate company, operating in and around Delhi & Ghaziabad foralmost four decades now.
The company has planned and developed several prestigious projects including townships, plotted housing colonies and a large number of group housing dwelling units
Project Name Ramprastha The Edge Towers
Name of Builder Ramprastha Group
Project Type Residential Apartments
Basic Price As below
Location Sector 37D, Gurgaon
Agent SHRI ADITYA ESTATES
47082736, 9810445860
For more info log on to http://www.propertycafeteria.com/ramprastha-city-gurgaon.aspx
The company has planned and developed several prestigious projects including townships, plotted housing colonies and a large number of group housing dwelling units
Project Name Ramprastha The Edge Towers
Name of Builder Ramprastha Group
Project Type Residential Apartments
Basic Price As below
Location Sector 37D, Gurgaon
Agent SHRI ADITYA ESTATES
47082736, 9810445860
For more info log on to http://www.propertycafeteria.com/ramprastha-city-gurgaon.aspx
Spaze Group Launches new Commercial Park Spaze Palazo In Gurgaon
Spaze Palazo is ideally located on the 150 m peripheral road in Sector 69, Gurgaon. with a multi pronged approach, Spaze Palazo is accessible through the proposed metro rail corridor and from NH8 through a triple access on the proposed six lane Sohna Road highway and the new semi-circular peripheral link road emanating from the golf course and culminating at NH8.
Project Name Spaze Palazo
Name of Builder Spaze Group
Project Type Commercial Park
Basic Price As below
Location Sector 69, Gurgaon
Agent SHRI ADITYA ESTATES
Ground and first floors meant for retail and entertainment
• Respective floor Plates of approx. 65,000 sq.ft and 55,000 Sq.ft (Super Area) each
• Second to twelfth floor meant for offices with floor plates of approx. 18,000 Sq.ft to 20,000 Sq.ft (Super Area) each
• Anti-skid Exclusive access to the office floors Tiles
• Built in Compliance with Zone-V seismic considerations
• World-class landscaping by international consultants
• Central Atrium in the retail area
• Designated pick up and drop off points
• Centrally air conditioned
• multi-level basement parking
• Kitchen in Marble/Granite
• 24-hour-CCTV security surveillance
• 100% Power back-up
• Self-integrated commercial park
For more info log on to http://www.propertycafeteria.com/spaze-palazo-gurgaon.aspx
Project Name Spaze Palazo
Name of Builder Spaze Group
Project Type Commercial Park
Basic Price As below
Location Sector 69, Gurgaon
Agent SHRI ADITYA ESTATES
Ground and first floors meant for retail and entertainment
• Respective floor Plates of approx. 65,000 sq.ft and 55,000 Sq.ft (Super Area) each
• Second to twelfth floor meant for offices with floor plates of approx. 18,000 Sq.ft to 20,000 Sq.ft (Super Area) each
• Anti-skid Exclusive access to the office floors Tiles
• Built in Compliance with Zone-V seismic considerations
• World-class landscaping by international consultants
• Central Atrium in the retail area
• Designated pick up and drop off points
• Centrally air conditioned
• multi-level basement parking
• Kitchen in Marble/Granite
• 24-hour-CCTV security surveillance
• 100% Power back-up
• Self-integrated commercial park
For more info log on to http://www.propertycafeteria.com/spaze-palazo-gurgaon.aspx
Sunday, November 8, 2009
GUARANTOR SECURES LOAN
Sometimes a guarantor is required for a home loan. Many banks insist on one or two personal guarantors. The guarantors are required to meet the norms specified by the bank, which is usually similar to the norms for an applicant. Usually, only individuals can act as guarantors.
The guarantor basically provides a sort of security on behalf of the borrower to the bank, that in case the borrower fails to repay the loan amount or other dues to the bank the guarantor will make good that shortfall. The guarantor has to enter into a Deed of Guarantee where the guarantor agrees to make the payment in the event of the applicant failing to pay the dues by the due dates. A guarantor should satisfy all the norms relating to age and income of a borrower. The guarantor is equally liable to pay the loan in case of default in repayment. Through a guarantor, the bank puts some sort of a moral obligation on the borrower to repay the loan. Relatives may act as guarantors in case the policy of the bank permits it.
The need for a guarantor arises because of the inherent loopholes in the system. The foreclosure laws — laws pertaining to recovery of a loan by disposing offthe property in case of default — are not very strong. As such, it is difficult to repossess the property of an applicant in case of default. In order to safeguard its interests and to ensure that the repayment of the loan comes on time, a bank insists on a guarantor. Usually a guarantor may be insisted on for loans above a specific amount, but conservative banks insist on a guarantor irrespective of the loan amount involved. Some require a guarantor in all cases while others insist on a guarantor only if certain criteria are not met by the borrower.
Conditions when a guarantor is required:
• In the case of a sole applicant
• If the applicant is residing in a city different from the city where he intends to purchase the property.
• If the income of the borrower is variable in nature Lack of professional qualifications in a self-employed’s case
• If the applicant’s job is of a transferable nature
• If the borrower works in an industry where the likelihood of his going abroad for long is high
• Absence of a co-applicant to the loan
In future, the guarantor can apply for a loan if he is capable of repaying both the instalments — on the guaranteed loan and his new loan. If his repayment capacity does not make him eligible for another loan, and he wants one for himself, the borrower may have to arrange for a replacement guarantee. This has to be done by releasing the current guarantor and providing the bank with another guarantor who meets all specified norms for a guarantor.
Courtesy:- Times Property dt:- 07-11-09
The guarantor basically provides a sort of security on behalf of the borrower to the bank, that in case the borrower fails to repay the loan amount or other dues to the bank the guarantor will make good that shortfall. The guarantor has to enter into a Deed of Guarantee where the guarantor agrees to make the payment in the event of the applicant failing to pay the dues by the due dates. A guarantor should satisfy all the norms relating to age and income of a borrower. The guarantor is equally liable to pay the loan in case of default in repayment. Through a guarantor, the bank puts some sort of a moral obligation on the borrower to repay the loan. Relatives may act as guarantors in case the policy of the bank permits it.
The need for a guarantor arises because of the inherent loopholes in the system. The foreclosure laws — laws pertaining to recovery of a loan by disposing offthe property in case of default — are not very strong. As such, it is difficult to repossess the property of an applicant in case of default. In order to safeguard its interests and to ensure that the repayment of the loan comes on time, a bank insists on a guarantor. Usually a guarantor may be insisted on for loans above a specific amount, but conservative banks insist on a guarantor irrespective of the loan amount involved. Some require a guarantor in all cases while others insist on a guarantor only if certain criteria are not met by the borrower.
Conditions when a guarantor is required:
• In the case of a sole applicant
• If the applicant is residing in a city different from the city where he intends to purchase the property.
• If the income of the borrower is variable in nature Lack of professional qualifications in a self-employed’s case
• If the applicant’s job is of a transferable nature
• If the borrower works in an industry where the likelihood of his going abroad for long is high
• Absence of a co-applicant to the loan
In future, the guarantor can apply for a loan if he is capable of repaying both the instalments — on the guaranteed loan and his new loan. If his repayment capacity does not make him eligible for another loan, and he wants one for himself, the borrower may have to arrange for a replacement guarantee. This has to be done by releasing the current guarantor and providing the bank with another guarantor who meets all specified norms for a guarantor.
Courtesy:- Times Property dt:- 07-11-09
GUARANTOR SECURES LOAN
Sometimes a guarantor is required for a home loan. Many banks insist on one or two personal guarantors. The guarantors are required to meet the norms specified by the bank, which is usually similar to the norms for an applicant. Usually, only individuals can act as guarantors.
The guarantor basically provides a sort of security on behalf of the borrower to the bank, that in case the borrower fails to repay the loan amount or other dues to the bank the guarantor will make good that shortfall. The guarantor has to enter into a Deed of Guarantee where the guarantor agrees to make the payment in the event of the applicant failing to pay the dues by the due dates. A guarantor should satisfy all the norms relating to age and income of a borrower. The guarantor is equally liable to pay the loan in case of default in repayment. Through a guarantor, the bank puts some sort of a moral obligation on the borrower to repay the loan. Relatives may act as guarantors in case the policy of the bank permits it.
The need for a guarantor arises because of the inherent loopholes in the system. The foreclosure laws — laws pertaining to recovery of a loan by disposing offthe property in case of default — are not very strong. As such, it is difficult to repossess the property of an applicant in case of default. In order to safeguard its interests and to ensure that the repayment of the loan comes on time, a bank insists on a guarantor. Usually a guarantor may be insisted on for loans above a specific amount, but conservative banks insist on a guarantor irrespective of the loan amount involved. Some require a guarantor in all cases while others insist on a guarantor only if certain criteria are not met by the borrower.
Conditions when a guarantor is required:
• In the case of a sole applicant
• If the applicant is residing in a city different from the city where he intends to purchase the property.
• If the income of the borrower is variable in nature Lack of professional qualifications in a self-employed’s case
• If the applicant’s job is of a transferable nature
• If the borrower works in an industry where the likelihood of his going abroad for long is high
• Absence of a co-applicant to the loan
In future, the guarantor can apply for a loan if he is capable of repaying both the instalments — on the guaranteed loan and his new loan. If his repayment capacity does not make him eligible for another loan, and he wants one for himself, the borrower may have to arrange for a replacement guarantee. This has to be done by releasing the current guarantor and providing the bank with another guarantor who meets all specified norms for a guarantor.
Courtesy:- Times Property dt:- 07-11-09
The guarantor basically provides a sort of security on behalf of the borrower to the bank, that in case the borrower fails to repay the loan amount or other dues to the bank the guarantor will make good that shortfall. The guarantor has to enter into a Deed of Guarantee where the guarantor agrees to make the payment in the event of the applicant failing to pay the dues by the due dates. A guarantor should satisfy all the norms relating to age and income of a borrower. The guarantor is equally liable to pay the loan in case of default in repayment. Through a guarantor, the bank puts some sort of a moral obligation on the borrower to repay the loan. Relatives may act as guarantors in case the policy of the bank permits it.
The need for a guarantor arises because of the inherent loopholes in the system. The foreclosure laws — laws pertaining to recovery of a loan by disposing offthe property in case of default — are not very strong. As such, it is difficult to repossess the property of an applicant in case of default. In order to safeguard its interests and to ensure that the repayment of the loan comes on time, a bank insists on a guarantor. Usually a guarantor may be insisted on for loans above a specific amount, but conservative banks insist on a guarantor irrespective of the loan amount involved. Some require a guarantor in all cases while others insist on a guarantor only if certain criteria are not met by the borrower.
Conditions when a guarantor is required:
• In the case of a sole applicant
• If the applicant is residing in a city different from the city where he intends to purchase the property.
• If the income of the borrower is variable in nature Lack of professional qualifications in a self-employed’s case
• If the applicant’s job is of a transferable nature
• If the borrower works in an industry where the likelihood of his going abroad for long is high
• Absence of a co-applicant to the loan
In future, the guarantor can apply for a loan if he is capable of repaying both the instalments — on the guaranteed loan and his new loan. If his repayment capacity does not make him eligible for another loan, and he wants one for himself, the borrower may have to arrange for a replacement guarantee. This has to be done by releasing the current guarantor and providing the bank with another guarantor who meets all specified norms for a guarantor.
Courtesy:- Times Property dt:- 07-11-09
Wednesday, November 4, 2009
Prestige Group Launches 3 - 4 BHK Apartments in Banashankari, Ring Road Bangalore
The Prestige Group presents their newest real estate development "Prestige South Ridge". Sprawled over 9 acres of sloping greens just off the Ring Road at Banashankari, It is situated on a natural elevation, so that one can experience the panoramic view of the Bangalore city beneath. The project comprises of 5 residential towers of Basement + Ground + Stilt+ 15 - 16 and offers 3 and 4 BHK apartments.
Planned with bright, roomy, well-ventilated apartments, the neatly landscaped gardens dotted with shimmering water bodies and cobbled paths are all an integral part of South Ridge. Additionally the development will also have a clubhouse block having many state-of-the-art facilities like the well-equipped gymnasium to stay fit, swimming pool, children's play area, party hall, health club, space provision for a supermarket etc ensuring every necessity of life in close proximity.
Planned with bright, roomy, well-ventilated apartments, the neatly landscaped gardens dotted with shimmering water bodies and cobbled paths are all an integral part of South Ridge. Additionally the development will also have a clubhouse block having many state-of-the-art facilities like the well-equipped gymnasium to stay fit, swimming pool, children's play area, party hall, health club, space provision for a supermarket etc ensuring every necessity of life in close proximity.
SS GROUP LAUNCHES NEW RESIDENTIAL VILLAS IN GURGAON
Live beyond your dreams. Take extra good care of yourself so that you can be the best in everything you do, and no wonder! Aaron Ville, from the SS Group, is one of the luxurious hubs where everything comes with the best. Best environs. Best lifestyle. Best ambience, and of course, best location. Its creator, the SS Group, has structured many edifices that have been solidified with their strong values and hardcore commitments. With their core value “Committed to Serve Better,” the Group has artfully structured 20 residential projects, commercial complexes and IT Parks, and many landscapes are still waiting for this real estate icon to transform them in to beautiful landmarks.
Aaron Ville is the domain where you rule life with the power called luxury. Bejeweled with ultramodern outlook and magnificence, it proliferates in an area of approx. 15 acres that offers much breathing space to life. Undoubtedly, Aaron Ville is the other name for luxury, magnificence and splendor.
Aaron Ville is the domain where you rule life with the power called luxury. Bejeweled with ultramodern outlook and magnificence, it proliferates in an area of approx. 15 acres that offers much breathing space to life. Undoubtedly, Aaron Ville is the other name for luxury, magnificence and splendor.
Monday, November 2, 2009
HIGH INTEREST INCOME BOOSTS PNB NET 31%
The country’s second largest state-owned lender, Punjab National Bank (PNB), on Thursday reported a 31.1% growth in net profit at Rs 927 crore in the second quarter ending September. The growth in profit is fuelled by higher interest and treasury income.
PNB said the growth in profit was after making provisions for revised wages. Net interest income grew by 22.4%, while net non-performing assets was reduced to 0.14%.
The bank has initiated steps to buy majority stake in a bank in Kazakhstan, PNB’s first overseas acquisition. “The board today approved acquisition of 63.6% stake in Kazakhstan-based Dana Bank,” PNB’s newly appointed CMD K R Kamath told reporters after announcing the second quarter numbers.
The joint venture would have five branches, he said, adding that the bank would now seek necessary regulatory approvals for operationalisation of the JV. The deal size is expected to be $24 million (about Rs 115 crore). PNB is also looking at setting up a subsidiary in Vancouver, Canada and a joint-venture company in Bhutan. Recently, the bank opened branches in Hong Kong and UK.
Mr Kamath also said PNB expects to complete 26% stake sale in its wholly-owned housing finance subsidiary by December this year. Steps are also underway to merge PNB Gilts with the parent bank, he said.
Courtesy:- ET dt:- 30-10-2009
PNB said the growth in profit was after making provisions for revised wages. Net interest income grew by 22.4%, while net non-performing assets was reduced to 0.14%.
The bank has initiated steps to buy majority stake in a bank in Kazakhstan, PNB’s first overseas acquisition. “The board today approved acquisition of 63.6% stake in Kazakhstan-based Dana Bank,” PNB’s newly appointed CMD K R Kamath told reporters after announcing the second quarter numbers.
The joint venture would have five branches, he said, adding that the bank would now seek necessary regulatory approvals for operationalisation of the JV. The deal size is expected to be $24 million (about Rs 115 crore). PNB is also looking at setting up a subsidiary in Vancouver, Canada and a joint-venture company in Bhutan. Recently, the bank opened branches in Hong Kong and UK.
Mr Kamath also said PNB expects to complete 26% stake sale in its wholly-owned housing finance subsidiary by December this year. Steps are also underway to merge PNB Gilts with the parent bank, he said.
Courtesy:- ET dt:- 30-10-2009
STEAL A GOOD DEAL
If you are looking at buying property, the time is perfect to invest, for you can get a good deal at reduced rates, say experts
Jaago, yeh hi right time, scream property exhibition advertisements in newspapers. So what if residential real estate prices are going up, a majority of the middle class that aspires to own a home is still taking the plunge. The reason being that homes are still affordable, and also thanks due to availability of funds and rising trust in the borrower. SBI, Deutsche Post Bank, ING Vysya Bank and P&SB are funding up to 80-85% of property value.
It is perhaps the best time to look around for a value purchase in real estate. With lower price points in locations that were not earlier within the affordable range, buyers are scouting for good 'value' bargains at this time. And with developers going big on affordable home launches, the timing may just be one of the best for buyers seeking a steal deal.
The scene has improved with the Reserve Bank of India cutting lending rates to record lows and pumping in unprecedented amount of money into the system.
According to Anoop Pabby, joint managing director of Deutsche Post Bank (home finance), "The economy has improved and the liquidity situation is much better and interest rates have eased off considerably. It is only natural then that home buyers expect the reduced risks to result in reduction in interest rates and relaxation of margin money norms."
The housing finance company is now funding up to 80% of the property value to most salaried people, and 85% in a few cases, depending on the creditworthiness of the borrower. This is more than the 70% it used to lend a few months back.
According to Anshuman Magazine, CMD of global real estate consultancy CB Richards Ellis (CBRE), value buying is happening mostly in suburban locations, as that is where the current supply is. "Certain pockets in Gurgaon and Noida, where the price used to be Rs 65 lakh to Rs 1.5 crore earlier, have deals to offer anywhere between Rs 35 lakh to Rs 50 lakh today! Developers have reduced the total ticket sizes, adjusted area, and price and given amenities. This has got people back and is making them lust for value deals right now."
According to Navin M Raheja, chairman and managing director of Raheja Developers, "Locations such as Gurgaon, Faridabad, Noida in Delhi NCR are some of the good locations for value buying. Anything that is available between Rs 2,500 to Rs 3,000 per sq ft is the right price depending, of course, upon the location and infrastructural facilities available in the vicinity with specifications offered.
"There are three kinds of value buying that are taking place in the real estate market right now. Ready to move in residential property in and around metros and their suburbs, ready to move in commercial property which is already leased, or generating income and low income and middle income housing ranging from Rs 15 lakh to Rs 40 lakh are the primary types of value purchases," Raheja adds.
On the other hand, lenders such as ING Vysya Bank, and Punjab & Sind Bank have reduced the margin money requirement to 15-20% from 25-30% towards the cost of the home on their home loans, as they try to tap potential homebuyers. This leads to a borrower investing lesser capital than before. G S Vedi, the newly appointed chairman and managing director of Punjab and Sind Bank, said, "Interest rates are likely to harden over the next six months with the credit offtake improving and inflation moving into the positive territory."
Courtesy:- ET dt:- 30-10-2009
Jaago, yeh hi right time, scream property exhibition advertisements in newspapers. So what if residential real estate prices are going up, a majority of the middle class that aspires to own a home is still taking the plunge. The reason being that homes are still affordable, and also thanks due to availability of funds and rising trust in the borrower. SBI, Deutsche Post Bank, ING Vysya Bank and P&SB are funding up to 80-85% of property value.
It is perhaps the best time to look around for a value purchase in real estate. With lower price points in locations that were not earlier within the affordable range, buyers are scouting for good 'value' bargains at this time. And with developers going big on affordable home launches, the timing may just be one of the best for buyers seeking a steal deal.
The scene has improved with the Reserve Bank of India cutting lending rates to record lows and pumping in unprecedented amount of money into the system.
According to Anoop Pabby, joint managing director of Deutsche Post Bank (home finance), "The economy has improved and the liquidity situation is much better and interest rates have eased off considerably. It is only natural then that home buyers expect the reduced risks to result in reduction in interest rates and relaxation of margin money norms."
The housing finance company is now funding up to 80% of the property value to most salaried people, and 85% in a few cases, depending on the creditworthiness of the borrower. This is more than the 70% it used to lend a few months back.
According to Anshuman Magazine, CMD of global real estate consultancy CB Richards Ellis (CBRE), value buying is happening mostly in suburban locations, as that is where the current supply is. "Certain pockets in Gurgaon and Noida, where the price used to be Rs 65 lakh to Rs 1.5 crore earlier, have deals to offer anywhere between Rs 35 lakh to Rs 50 lakh today! Developers have reduced the total ticket sizes, adjusted area, and price and given amenities. This has got people back and is making them lust for value deals right now."
According to Navin M Raheja, chairman and managing director of Raheja Developers, "Locations such as Gurgaon, Faridabad, Noida in Delhi NCR are some of the good locations for value buying. Anything that is available between Rs 2,500 to Rs 3,000 per sq ft is the right price depending, of course, upon the location and infrastructural facilities available in the vicinity with specifications offered.
"There are three kinds of value buying that are taking place in the real estate market right now. Ready to move in residential property in and around metros and their suburbs, ready to move in commercial property which is already leased, or generating income and low income and middle income housing ranging from Rs 15 lakh to Rs 40 lakh are the primary types of value purchases," Raheja adds.
On the other hand, lenders such as ING Vysya Bank, and Punjab & Sind Bank have reduced the margin money requirement to 15-20% from 25-30% towards the cost of the home on their home loans, as they try to tap potential homebuyers. This leads to a borrower investing lesser capital than before. G S Vedi, the newly appointed chairman and managing director of Punjab and Sind Bank, said, "Interest rates are likely to harden over the next six months with the credit offtake improving and inflation moving into the positive territory."
Courtesy:- ET dt:- 30-10-2009
Thursday, October 29, 2009
Real estate Market’s liking it too
The improving fundamentals of real estate developers on the back of the real estate price hikes, increased liquidity through QUIPs, real estate asset sales and pre-sales observed over the last few months is not lost on the real estate market. The BSE Realty index, the worst performer of 2008 is up 248 per cent since its March 2009 lows. This indicates that current valuations are not cheap. In a bid to cash in on the real estate recovery, leading realty companies are planning to raise money from the primary realty markets to the tune of over Rs 14,000 crore. This could also suck out liquidity and may cap appreciation of real estate prices of listed scrips, says analysts.
leading to higher prices of projects and property
The uptick has however led realty players to increase property prices. Ramnath believes that new properties launched in Mumbai, for example, were offered at 10-15 per cent higher property prices as against their lows in March 2009 quarter. Moreover, real estate developers are now offering properties without any discount and freebies (such as waiver of stamp duty and registration charges of properties).Says Dutt, “Real estate Developers in key cities have been hiking prices to test the flexibility of the real estate market. At first, this trend was evident only in the luxury and semi-luxury segments, but it has now percolated down to the mid-income housing segment as well.” A good example is DLF’s Capital Greens project in Delhi. DLF increased its prices at Phase II of this real estate project to Rs 6,750 per square feet in September 2009, which is at a 30 per cent premium to those in Phase I launched in April 2009.
Friday, October 23, 2009
PROPERTY OPTION FOR SENIOR CITIZENS
Reverse mortgage is a popular in the West among senior citizens who want to tap their realty property for cash.
Ashish Gupta outlines some legal aspects of reverse mortgage
In the present day circumstances of cash crunch, property can be a valuable source of getting real estate funds, without physically disposing off the property.
As a concept, reverse mortgage is of immense use in unlocking the otherwise illiquid asset of property. Hitherto immovable property has been treated as one of the most illiquid assets. Reverse mortgage unlocks the liquidity potential of this real estate asset. It helps the owner get a return from his immovable property, without having to part with it. The owner can continue with the possession of the property during his lifetime.
WHAT HAPPENS TO TITLE?
In case of a reverse mortgage, the realty property owner surrenders the title of the property to a financial entity. The financial entity doesn’t pay the entire amount to the owner upfront. On the contrary, it pays out a regular sum each month for the agreed time.
HOW IS IT DIFFERENT FROM MORTGAGE?
Reverse mortgage is different from mortgage. Mortgage is a form of hypothecation of the property to a bank, as a security for a home loan. A common form of security which a bank insists on is the mortgage of the house for which the home loan is being availed of by the borrower.
Mortgage refers to the transfer of interest in a specific realty property for the purpose of securing either the payment of money advanced or to be advanced by way of home loan, or an existing or future debt.
The transferor is called a mortgagor, the transferee is called a mortgagee, the principal money and interest that are secured by the mortgage are called the mortgage money, and the instrument by which the transfer is affected is called a mortgage deed.
A reverse mortgage is available to those above a specific age. The aim is to use the property and make it generate a return while in use by the owner. The amount is paid out each month is for a specific period of time.
RISK OF FINANCIAL INSTITUTION
The financing institution has to bear the risk of the individual outliving the agreement. At the expiry of the agreement period, the monthly payments to the owner stop. The monthly payout depends on the value of the realty property, the term of the agreement and the rate of payment. The valuation of the property is to be done by experts. The entire payout mechanism calculation and computation depends on the law of probability.
Courtesy:- TOI dt:- 17-10-09
Ashish Gupta outlines some legal aspects of reverse mortgage
In the present day circumstances of cash crunch, property can be a valuable source of getting real estate funds, without physically disposing off the property.
As a concept, reverse mortgage is of immense use in unlocking the otherwise illiquid asset of property. Hitherto immovable property has been treated as one of the most illiquid assets. Reverse mortgage unlocks the liquidity potential of this real estate asset. It helps the owner get a return from his immovable property, without having to part with it. The owner can continue with the possession of the property during his lifetime.
WHAT HAPPENS TO TITLE?
In case of a reverse mortgage, the realty property owner surrenders the title of the property to a financial entity. The financial entity doesn’t pay the entire amount to the owner upfront. On the contrary, it pays out a regular sum each month for the agreed time.
HOW IS IT DIFFERENT FROM MORTGAGE?
Reverse mortgage is different from mortgage. Mortgage is a form of hypothecation of the property to a bank, as a security for a home loan. A common form of security which a bank insists on is the mortgage of the house for which the home loan is being availed of by the borrower.
Mortgage refers to the transfer of interest in a specific realty property for the purpose of securing either the payment of money advanced or to be advanced by way of home loan, or an existing or future debt.
The transferor is called a mortgagor, the transferee is called a mortgagee, the principal money and interest that are secured by the mortgage are called the mortgage money, and the instrument by which the transfer is affected is called a mortgage deed.
A reverse mortgage is available to those above a specific age. The aim is to use the property and make it generate a return while in use by the owner. The amount is paid out each month is for a specific period of time.
RISK OF FINANCIAL INSTITUTION
The financing institution has to bear the risk of the individual outliving the agreement. At the expiry of the agreement period, the monthly payments to the owner stop. The monthly payout depends on the value of the realty property, the term of the agreement and the rate of payment. The valuation of the property is to be done by experts. The entire payout mechanism calculation and computation depends on the law of probability.
Courtesy:- TOI dt:- 17-10-09
Thursday, October 22, 2009
REAL ESTATE AND DEVELOPERS REALTY
Real estate Developers will continue to launch affordable housing projects as this is one way to raise resources to service their accumulated debt, says Prabhakar Sinha
The real estate market may witness an oversupply like condition in the affordable property segment of residential real estate making prices range-bound in times to come.
Though the global financial crisis affected property developers badly, it brought cheer to the middleclass end users as property builders were forced to bring down their property units prices to the affordable range of Rs 5 lakh to Rs 30 lakh.
In fact, the crisis led to emergence of a new segment of real estate affordable housing in residential real estate in the country. This helped revive realty market and instilled a new confidence among property developers and end users, according to Samir Jasuja, founder CEO of Prop Equity Research.
In order to bring down prices to drive sales, real estate developers cut the rate by lowering specifications and also by reducing the size of property units. The combined effect of cutting the rate and reducing the size led to a steep fall in prices of two- and three-bedroom apartments, by as much as 30% to 40% from their peak level of early 2008.
The fall in prices spurred demand. Many real estate developers even sold their entire realty projects in only a couple of days. This is mainly because real estate developers could successfully convey the impression to property buyers that availability of affordable apartments at prices at which they offered would not last long. This made the realty buyers queue up to buy these affordable apartments.
But as demand rose sharply in this realty category, more and more realty developers launched affordable apartments in the affordable segments and supply increased manifold. According to Jasuja, this realty category is now beginning to get overcrowded with a rapid increase in supply, which is outstripping absorption and leading to an inventory pile up.
According to the accompanying chart, absorption rate or sold-out rate in the last one year in affordable apartments in the price range of Rs 5 to Rs 15 lakh is much better than that in the Rs 15 to Rs 30 lakh range. This is also because of the number of affordable apartments launched in the Rs 5 to Rs 15 lakh price range is much smaller than that in the Rs 15 to Rs 30 lakh range in the National Capital Region (NCR).
Gurgaon realty saw the launch of maximum number of apartments in the affordable range. But the sold-out rate here is the second worst at 37%, next only after Greater Noida realty, where it is only 25%. As sales in affordable range of apartments picked up, many property developers jumped onto the affordable housing bandwagon to bail themselves out of the global economic crisis. Many of them treated affordable housing category as the new mantra in marketing and launched several realty projects in this affordable housing category resulting in an oversupply in the market, Jasuja says.
Interestingly, as demand picked up and number of transactions increased, many realty developers revised prices upwards, by around 10%. However, property consultants feel price hike is more cosmetic in nature as property developers are giving discounts over quoted prices. Some real estate developers increased the quote prices, but the discount was also suitably hiked. Data collected by PropEquity from 13 cities suggests that rate of sales (absorption) of affordable units have slowed down in the September 2009 quarter. In the early phase, the euphoria was mainly due to a huge pent up demand in the affordable housing category.
Falling absorption velocity coupled with an oversupply in this affordable housing category has now resulted in an inventory pile up. As cost of carrying inventory in real estate sector is very high, real estate developers will resort to price correction at the cost of profits.
But realtors argue the prices are at rock bottom. In most of the areas of NCR, realty developers are selling apartments at 30% to 50% discount to the average price of affordable apartments in the area. In most of the cases, they are working on a very thin profit margin. Therefore, a further cut in prices will be a big disincentive to launch the real estate project itself. However, bankers and property consultants feel that most realty developers are under a huge debt. They need funds to service their debt. As they are not able to raise funds through equity-sell, they have no choice but to launch new real estate projects for the purpose. Therefore, the supply of affordable housings will continue.
As affordable housing is witnessing sales, realty developers are launching them. If the economy revives, demand for affordable housings will further increase. In fact, the requirement of housings in this segment is huge. If the economic growth picks up, the sentiments would improve and influence people to buy houses flats apartments. Besides, a better economic environment enhances financial security. This will also result in an increase in transactions. The prices, however, will remain under pressure for some more time.
The real estate market may witness an oversupply like condition in the affordable property segment of residential real estate making prices range-bound in times to come.
Though the global financial crisis affected property developers badly, it brought cheer to the middleclass end users as property builders were forced to bring down their property units prices to the affordable range of Rs 5 lakh to Rs 30 lakh.
In fact, the crisis led to emergence of a new segment of real estate affordable housing in residential real estate in the country. This helped revive realty market and instilled a new confidence among property developers and end users, according to Samir Jasuja, founder CEO of Prop Equity Research.
In order to bring down prices to drive sales, real estate developers cut the rate by lowering specifications and also by reducing the size of property units. The combined effect of cutting the rate and reducing the size led to a steep fall in prices of two- and three-bedroom apartments, by as much as 30% to 40% from their peak level of early 2008.
The fall in prices spurred demand. Many real estate developers even sold their entire realty projects in only a couple of days. This is mainly because real estate developers could successfully convey the impression to property buyers that availability of affordable apartments at prices at which they offered would not last long. This made the realty buyers queue up to buy these affordable apartments.
But as demand rose sharply in this realty category, more and more realty developers launched affordable apartments in the affordable segments and supply increased manifold. According to Jasuja, this realty category is now beginning to get overcrowded with a rapid increase in supply, which is outstripping absorption and leading to an inventory pile up.
According to the accompanying chart, absorption rate or sold-out rate in the last one year in affordable apartments in the price range of Rs 5 to Rs 15 lakh is much better than that in the Rs 15 to Rs 30 lakh range. This is also because of the number of affordable apartments launched in the Rs 5 to Rs 15 lakh price range is much smaller than that in the Rs 15 to Rs 30 lakh range in the National Capital Region (NCR).
Gurgaon realty saw the launch of maximum number of apartments in the affordable range. But the sold-out rate here is the second worst at 37%, next only after Greater Noida realty, where it is only 25%. As sales in affordable range of apartments picked up, many property developers jumped onto the affordable housing bandwagon to bail themselves out of the global economic crisis. Many of them treated affordable housing category as the new mantra in marketing and launched several realty projects in this affordable housing category resulting in an oversupply in the market, Jasuja says.
Interestingly, as demand picked up and number of transactions increased, many realty developers revised prices upwards, by around 10%. However, property consultants feel price hike is more cosmetic in nature as property developers are giving discounts over quoted prices. Some real estate developers increased the quote prices, but the discount was also suitably hiked. Data collected by PropEquity from 13 cities suggests that rate of sales (absorption) of affordable units have slowed down in the September 2009 quarter. In the early phase, the euphoria was mainly due to a huge pent up demand in the affordable housing category.
Falling absorption velocity coupled with an oversupply in this affordable housing category has now resulted in an inventory pile up. As cost of carrying inventory in real estate sector is very high, real estate developers will resort to price correction at the cost of profits.
But realtors argue the prices are at rock bottom. In most of the areas of NCR, realty developers are selling apartments at 30% to 50% discount to the average price of affordable apartments in the area. In most of the cases, they are working on a very thin profit margin. Therefore, a further cut in prices will be a big disincentive to launch the real estate project itself. However, bankers and property consultants feel that most realty developers are under a huge debt. They need funds to service their debt. As they are not able to raise funds through equity-sell, they have no choice but to launch new real estate projects for the purpose. Therefore, the supply of affordable housings will continue.
As affordable housing is witnessing sales, realty developers are launching them. If the economy revives, demand for affordable housings will further increase. In fact, the requirement of housings in this segment is huge. If the economic growth picks up, the sentiments would improve and influence people to buy houses flats apartments. Besides, a better economic environment enhances financial security. This will also result in an increase in transactions. The prices, however, will remain under pressure for some more time.
Wednesday, October 21, 2009
GOOD NEWS FOR EIGHT LAKH PEOPLE
Right Move DDA to denotify 230 Colonies; MCD to Take Them Over
Good news for residents of the 230 colonies that were unauthorized till last year.
After staying in limbo for the last three years, the Delhi Development Authority (DDA) has finally decided to de-notify these colonies in its board meeting held on Monday. Around 8 lakh people live in these colonies.
Till now, these areas were under DDA but post de-notification, the Municipal Corporation of Delhi (MCD) would immediately take over the control of building activities as per building bylaws and provisions of the Municipal Corporation Act.
The proposal will now go to the Union Urban Development Ministry for final approval before it comes into force.
These 230 colonies are part of the 1,436 unauthorized colonies that were regularized by the Delhi government last year. But since they were notified areas under DDA development control, their residents found it difficult to get their building plans sanctioned from DDA.
Besides, these areas were bereft of basic civic amenities like water and electric supply, roads and sewer lines as the MCD and Delhi government provides these basic services. All this will change with MCD taking over control.
"These areas would become developed as the civic agency is responsible for providing and maintaining these services," said a senior DDA official who did not want to be quoted as he is not authorized to speak to the media.
Also, once it comes under the MCD's control, it would be the civic agency's responsibility to check that no unauthorized construction and encroachment takes place in these areas.
"We decided to de-notify these areas as they had remained undeveloped for a very long time despite being declared development area," said a senior DDA official.
Also, because of lack of enforcement, these areas had seen a mushrooming of unauthorized construction and development of unauthorized colonies.
"There has also been a persistent demand from various quarters to denotify these areas as the ground reality had changed," he added.
Courtesy:- HT dt:- 15-10-09
Good news for residents of the 230 colonies that were unauthorized till last year.
After staying in limbo for the last three years, the Delhi Development Authority (DDA) has finally decided to de-notify these colonies in its board meeting held on Monday. Around 8 lakh people live in these colonies.
Till now, these areas were under DDA but post de-notification, the Municipal Corporation of Delhi (MCD) would immediately take over the control of building activities as per building bylaws and provisions of the Municipal Corporation Act.
The proposal will now go to the Union Urban Development Ministry for final approval before it comes into force.
These 230 colonies are part of the 1,436 unauthorized colonies that were regularized by the Delhi government last year. But since they were notified areas under DDA development control, their residents found it difficult to get their building plans sanctioned from DDA.
Besides, these areas were bereft of basic civic amenities like water and electric supply, roads and sewer lines as the MCD and Delhi government provides these basic services. All this will change with MCD taking over control.
"These areas would become developed as the civic agency is responsible for providing and maintaining these services," said a senior DDA official who did not want to be quoted as he is not authorized to speak to the media.
Also, once it comes under the MCD's control, it would be the civic agency's responsibility to check that no unauthorized construction and encroachment takes place in these areas.
"We decided to de-notify these areas as they had remained undeveloped for a very long time despite being declared development area," said a senior DDA official.
Also, because of lack of enforcement, these areas had seen a mushrooming of unauthorized construction and development of unauthorized colonies.
"There has also been a persistent demand from various quarters to denotify these areas as the ground reality had changed," he added.
Courtesy:- HT dt:- 15-10-09
Thursday, October 15, 2009
REALTY NEEDS A STRONG REBOUND, NOT JUST QIP FUNDS
Placements May Have Brought In the Much-Needed Funds, But Developers Yet To Weather Slowdown Storm: Crisil
Real estate shares have been star performers since the turnaround in the stock market from March this year. What also boosted the sentiment was the fact that some of the leading names in the sector were able to raise equity funds by qualified institutional placements (QIPs), helping them tide over a severe liquidity crisis. Property developers’ shares suddenly find themselves in a virtuous cycle. The fact that institutional investors are willing to invest in these companies has pushed up stock prices, in turn attracting more investors. While QIPs may have solved short-term concerns of the real estate sector, a strong rebound in demand is imperative if the sector has to recover from the serious miscalculations
Made in the past, says Crisil Research in a note.
Aggressive debt-funded land acquisition had led to severe liquidity crunch among developers during the slowdown, which began in early 2008. QIPs helped improve the liquidity situation of developers and reduced their gearing. However, valuations of realty shares look stretched, as demand for property — residential and commercial — continues to be significantly below peak levels, the note says, adding that the QIP route should not be considered a fund-raising tool, but as the last and undesirable alternative to internal accruals. This is because developers may enjoy better short-term liquidity position, but at the cost of stake dilution. “QIP issuance results in dilution of shareholders’ stake, hence, it is not a preferred mode of raising funds, as a few investors would gain the ability to influence stock prices,” the note says.
Just like developers, equity shareholders also witness dilution in stake after a QIP. However, retail investors experience deterioration in earnings per share and also face the risk of institutional investors exiting their investments in the short term, which may lead to a sharp decline in stock prices. Hence, investors may have been able to earn short-term returns, but the gains are laced with certain risks.
Till October this year, seven real estate players have raised funds through QIP — Unitech (two issues), India bulls Real Estate, HDIL, Sobha Developers, Orbit Corp, Parsvnath Developers and Ackruti City. The promoters of DLF also offloaded some part of their stake to QIBs, but not through QIP, as the existing equity was diluted and no fresh issues were made.
Yet, some industry sources point out that despite its shortcomings; QIPs have their advantages as well.
“Both demand and liquidity is important. If developers are bound by liquidity constraints, they will not be able to complete projects or take up new ones. This will increase demand, and in the process spiral up prices,” said Jones Lang LaSalle Meghraj chairman and country head Anuj Puri. “If there is a steady supply of projects, prices will be under check,” he added. The BSE Realty index has been the best performing sectored barometer since early March, rising 241%.
Courtesy:- Et dt:- 14-10-09
Real estate shares have been star performers since the turnaround in the stock market from March this year. What also boosted the sentiment was the fact that some of the leading names in the sector were able to raise equity funds by qualified institutional placements (QIPs), helping them tide over a severe liquidity crisis. Property developers’ shares suddenly find themselves in a virtuous cycle. The fact that institutional investors are willing to invest in these companies has pushed up stock prices, in turn attracting more investors. While QIPs may have solved short-term concerns of the real estate sector, a strong rebound in demand is imperative if the sector has to recover from the serious miscalculations
Made in the past, says Crisil Research in a note.
Aggressive debt-funded land acquisition had led to severe liquidity crunch among developers during the slowdown, which began in early 2008. QIPs helped improve the liquidity situation of developers and reduced their gearing. However, valuations of realty shares look stretched, as demand for property — residential and commercial — continues to be significantly below peak levels, the note says, adding that the QIP route should not be considered a fund-raising tool, but as the last and undesirable alternative to internal accruals. This is because developers may enjoy better short-term liquidity position, but at the cost of stake dilution. “QIP issuance results in dilution of shareholders’ stake, hence, it is not a preferred mode of raising funds, as a few investors would gain the ability to influence stock prices,” the note says.
Just like developers, equity shareholders also witness dilution in stake after a QIP. However, retail investors experience deterioration in earnings per share and also face the risk of institutional investors exiting their investments in the short term, which may lead to a sharp decline in stock prices. Hence, investors may have been able to earn short-term returns, but the gains are laced with certain risks.
Till October this year, seven real estate players have raised funds through QIP — Unitech (two issues), India bulls Real Estate, HDIL, Sobha Developers, Orbit Corp, Parsvnath Developers and Ackruti City. The promoters of DLF also offloaded some part of their stake to QIBs, but not through QIP, as the existing equity was diluted and no fresh issues were made.
Yet, some industry sources point out that despite its shortcomings; QIPs have their advantages as well.
“Both demand and liquidity is important. If developers are bound by liquidity constraints, they will not be able to complete projects or take up new ones. This will increase demand, and in the process spiral up prices,” said Jones Lang LaSalle Meghraj chairman and country head Anuj Puri. “If there is a steady supply of projects, prices will be under check,” he added. The BSE Realty index has been the best performing sectored barometer since early March, rising 241%.
Courtesy:- Et dt:- 14-10-09
REALTY REVIVAL: THE BIG PICTURE
Low-cost housing will lead the recovery process, stresses a FICCI survey
Even as the economy picks up and reports speak of crore-plus apartments being sold within hours, `affordable' is still the operative word in the residential property segment, as indicated by figures in a latest FICCI survey report.
According to the report, `Indian real estate: the current scenario', 34 per cent demand in residential realty lies in the Rs 5 lakh-Rs 15 lakh segment; 26 per cent in the Rs 15 lakh-Rs 25 lakh segment; 22 per cent in the Rs 25 lakh -Rs 40 lakh segment; 12 per cent in the Rs 35 lakh-Rs 50 lakh segment; and only 6 per cent demand is for properties priced above Rs 50 lakh.
Parking funds in affordable housing projects has emerged as the safest bet, says the survey, followed by the development of demand based commercial spaces. Special Economic Zones (SEZs) and the retail segment are expected to be the least preferred asset class to drive the sector towards recovery.
Experts predict a 25-30 per cent renewal in demand in the residential segment by the end of 2009. In contrast, demand in the commercial segment is expected to pick up only after the third quarter of 2010. Till the end of this year, a demand rise of only 10-12 per cent is expected in the retail segment.
Transparency needed
According to the survey, the stimulus packages and interest rate cuts have made it easier for developers to access bank finance.
However, banks are still cautious when it comes to lending and prefer lending to credible developers and for projects that are nearing completion. The developers surveyed feel that transparency in operations could enhance their credibility and bring credit within reach.
While qualified institutional placement (QIP), a process of selective equity issue, has emerged as one of the most popular modes of raising funds in recent times, lack of awareness about real estate mutual funds (REMFs) and the ambiguous policy framework have prevented the funds from really taking off in the Indian market. Issues relating to taxation and exit need to be resolved and the guidelines made clearer for the REMFs to perform better.
Not seeing green
According to the report, the biggest hurdle facing the `green building' concept in India is that of ignorance - about the long-term benefits of such buildings and, as a result, there is resistance to this new practice among builders.
The next major obstacle is the lack of integrated designing and insufficient infrastructure to support green building construction. Bylaws should make it mandatory for developers to adopt sustainable and green methods of development.
Courtesy:- HT Estates dt:- 10-10-2009
Even as the economy picks up and reports speak of crore-plus apartments being sold within hours, `affordable' is still the operative word in the residential property segment, as indicated by figures in a latest FICCI survey report.
According to the report, `Indian real estate: the current scenario', 34 per cent demand in residential realty lies in the Rs 5 lakh-Rs 15 lakh segment; 26 per cent in the Rs 15 lakh-Rs 25 lakh segment; 22 per cent in the Rs 25 lakh -Rs 40 lakh segment; 12 per cent in the Rs 35 lakh-Rs 50 lakh segment; and only 6 per cent demand is for properties priced above Rs 50 lakh.
Parking funds in affordable housing projects has emerged as the safest bet, says the survey, followed by the development of demand based commercial spaces. Special Economic Zones (SEZs) and the retail segment are expected to be the least preferred asset class to drive the sector towards recovery.
Experts predict a 25-30 per cent renewal in demand in the residential segment by the end of 2009. In contrast, demand in the commercial segment is expected to pick up only after the third quarter of 2010. Till the end of this year, a demand rise of only 10-12 per cent is expected in the retail segment.
Transparency needed
According to the survey, the stimulus packages and interest rate cuts have made it easier for developers to access bank finance.
However, banks are still cautious when it comes to lending and prefer lending to credible developers and for projects that are nearing completion. The developers surveyed feel that transparency in operations could enhance their credibility and bring credit within reach.
While qualified institutional placement (QIP), a process of selective equity issue, has emerged as one of the most popular modes of raising funds in recent times, lack of awareness about real estate mutual funds (REMFs) and the ambiguous policy framework have prevented the funds from really taking off in the Indian market. Issues relating to taxation and exit need to be resolved and the guidelines made clearer for the REMFs to perform better.
Not seeing green
According to the report, the biggest hurdle facing the `green building' concept in India is that of ignorance - about the long-term benefits of such buildings and, as a result, there is resistance to this new practice among builders.
The next major obstacle is the lack of integrated designing and insufficient infrastructure to support green building construction. Bylaws should make it mandatory for developers to adopt sustainable and green methods of development.
Courtesy:- HT Estates dt:- 10-10-2009
Wednesday, October 14, 2009
CRASH GURU: US HOUSE PRICES COULD FALL 10% MORE
Nouriel Roubini, the high-profile US economist who foresaw the credit crunch, warned that house prices could fall by another 10 per cent, underlining the fragility of America's nascent economic recovery.
Property prices in the US have already dropped by almost a third from their peak, as the crisis spread from lower-paid sub-prime borrowers to engulf the entire housing market. But Roubini said there could still be worse to come -- and added those banks' heavy losses on home mortgages are likely to be repeated in the sliding market for business premises.
"The stress is moving from residential mortgages, that are still in deep trouble, to commercial real estate, where they are just starting to recognize that they're going to have massive, massive losses," he said.
First-time buyers have been helped by an $8,000 tax credit, but this is due to run out at the end of next month.
Roubini's latest warning came despite several pieces of upbeat news from the recession-hit US economy in recent days, including official figures released on Thursday which showed that the pace of job-shedding is beginning to slow.
Fewer workers filed new claims for unemployment benefits last week than at any time since January -- 521,000, down from 554,000 a week earlier. "The notable downturn in jobless claims shows improving labour market conditions," said Michelle Meyer of Barclays Capital.
Courtesy:- HT Business dt:- 10-10-2009
Property prices in the US have already dropped by almost a third from their peak, as the crisis spread from lower-paid sub-prime borrowers to engulf the entire housing market. But Roubini said there could still be worse to come -- and added those banks' heavy losses on home mortgages are likely to be repeated in the sliding market for business premises.
"The stress is moving from residential mortgages, that are still in deep trouble, to commercial real estate, where they are just starting to recognize that they're going to have massive, massive losses," he said.
First-time buyers have been helped by an $8,000 tax credit, but this is due to run out at the end of next month.
Roubini's latest warning came despite several pieces of upbeat news from the recession-hit US economy in recent days, including official figures released on Thursday which showed that the pace of job-shedding is beginning to slow.
Fewer workers filed new claims for unemployment benefits last week than at any time since January -- 521,000, down from 554,000 a week earlier. "The notable downturn in jobless claims shows improving labour market conditions," said Michelle Meyer of Barclays Capital.
Courtesy:- HT Business dt:- 10-10-2009
PRESTIGE ESTATES PLANS RS 900-CR IPO, TO DIVEST 15%
Realty firm Prestige Estates is planning to raise Rs 800-900 cr through an IPO that would see the Bangalore-based company offloading 10-15% stake. Senior investment bankers confirmed the development indicating that the company could get listed by March next.
It is believed that the company has mandated investment banks like Kotak Mahindra Capital and Enam to prepare the road map for the eventual listing.
When contacted, Prestige Estates CMD Irfan Razzak said: “I am unable to comment on the matter at this juncture.” The move, it appears, comes after discussions between Prestige Estates and leading private equity players like HDFC Property Ventures and Singapore’s Temasek, reportedly failed over valuation issues. ET, in its September 7 edition, had spoken of Prestige Estates initiating discussions with these two entities.
The talks were aborted as the Bangalore-headquartered firm was looking at a valuation between $800 million and $1 billion, which the potential PE investors were not willing to fork out.
Started in 1995, Prestige Estates has over 180 developments with a built-up space of 20 million square feet. Prestige Estates joins the ranks of Emmar MGF Land, Lodha Developers and Sahara Prime City all of whom have made a beeline for raising finance through the IPO route. Conservative estimates indicate that real-estate IPOs could easily mop up over $5 billion.
The revival in the stock market since March has incidentally seen a spate of qualified institutional placement (QIP) based offering from realty companies. Unitech, Indiabulls Real Estate and Sobha Developers were some of the listed firms which rose funding through the QIP route.
Courtesy:- ET dt:- 12-10-09
It is believed that the company has mandated investment banks like Kotak Mahindra Capital and Enam to prepare the road map for the eventual listing.
When contacted, Prestige Estates CMD Irfan Razzak said: “I am unable to comment on the matter at this juncture.” The move, it appears, comes after discussions between Prestige Estates and leading private equity players like HDFC Property Ventures and Singapore’s Temasek, reportedly failed over valuation issues. ET, in its September 7 edition, had spoken of Prestige Estates initiating discussions with these two entities.
The talks were aborted as the Bangalore-headquartered firm was looking at a valuation between $800 million and $1 billion, which the potential PE investors were not willing to fork out.
Started in 1995, Prestige Estates has over 180 developments with a built-up space of 20 million square feet. Prestige Estates joins the ranks of Emmar MGF Land, Lodha Developers and Sahara Prime City all of whom have made a beeline for raising finance through the IPO route. Conservative estimates indicate that real-estate IPOs could easily mop up over $5 billion.
The revival in the stock market since March has incidentally seen a spate of qualified institutional placement (QIP) based offering from realty companies. Unitech, Indiabulls Real Estate and Sobha Developers were some of the listed firms which rose funding through the QIP route.
Courtesy:- ET dt:- 12-10-09
Thursday, October 8, 2009
RAHEJA BAGS 500CR DELHI SLUM PROJECT
Delhi Development Authority (DDA) has awarded Delhi’s first slum redevelopment project, worth Rs 500 cr, to a local builder, Raheja Developers, in a move that may see more such projects in the national capital resulting in better living conditions for urban poor and thousands of crores of businesses for builders.
DDA has awarded 5.22-hectare, or 13-acre, project at Kathputli Colony near Shadipur Depot in west Delhi to Raheja Developers for Rs 6.11 cr, a DDA spokesperson said. Under the scheme, the builder pays only Rs 6.11 cr—the bid amount—for the land, but has to build 2,800 homes, of 30 sq meter size each, for existing slum dwellers of Kathputli Colony named after its majority residents of puppeteers and craftsmen. In the bargain, the builder gets for commercial exploitation 10% of the total space slated for 2800 homes and also close to a hectare for high-end residential development. Therefore, the cost incurred in building 2800 homes for slum-dwellers will be offset by the sale of commercial space (office, shops) and high-end houses in the project, while land would come dirt cheap at Rs 6 cr.
DLF has recently sold 1,250 apartments in its Capital Greens project, just 3-4 kilometers from Shadipur Depot at a rate of Rs 5,677 a sq ft. Raheja Developers will have to create temporary accommodation for the slum dwellers at a piece of land close to the project site that will be given by the DDA in a month or two. The builder will be expected to build homes for slum-dwellers within two years of the allotment of the land for temporary accommodation. Usually, slum redevelopment projects offer a very high margin of 70-75% to the developers, mainly because land comes cheap even as projects are fraught with political risks. In Mumbai, developers have to get the consent of 70% of the slum-dwellers and many a time face opposition from political interests as well as voluntary organizations. In Delhi’s Kathputli Colony project, the government has already got slum-dwellers on board. And Navin Raheja, CMD of Raheja Developers, said the project is a ‘loss-making proposition’, but he has taken this up because he is engaged in a social ‘mission’ to help urban poor get homes. He estimates this project to be worth Rs 500 cr.
DDA had invited technical bids for the project over a year ago. Eight developers, including Unitech, HDIL and Raheja, met the technical qualification criteria, but only one of them submitted financial bid early this year amid cash crunch faced by most realty firms.
Unitech, country’s second largest realty firm, declined to comment on why it didn’t submit a bid.
Courtesy:- ET dt:- 06-10-09
DDA has awarded 5.22-hectare, or 13-acre, project at Kathputli Colony near Shadipur Depot in west Delhi to Raheja Developers for Rs 6.11 cr, a DDA spokesperson said. Under the scheme, the builder pays only Rs 6.11 cr—the bid amount—for the land, but has to build 2,800 homes, of 30 sq meter size each, for existing slum dwellers of Kathputli Colony named after its majority residents of puppeteers and craftsmen. In the bargain, the builder gets for commercial exploitation 10% of the total space slated for 2800 homes and also close to a hectare for high-end residential development. Therefore, the cost incurred in building 2800 homes for slum-dwellers will be offset by the sale of commercial space (office, shops) and high-end houses in the project, while land would come dirt cheap at Rs 6 cr.
DLF has recently sold 1,250 apartments in its Capital Greens project, just 3-4 kilometers from Shadipur Depot at a rate of Rs 5,677 a sq ft. Raheja Developers will have to create temporary accommodation for the slum dwellers at a piece of land close to the project site that will be given by the DDA in a month or two. The builder will be expected to build homes for slum-dwellers within two years of the allotment of the land for temporary accommodation. Usually, slum redevelopment projects offer a very high margin of 70-75% to the developers, mainly because land comes cheap even as projects are fraught with political risks. In Mumbai, developers have to get the consent of 70% of the slum-dwellers and many a time face opposition from political interests as well as voluntary organizations. In Delhi’s Kathputli Colony project, the government has already got slum-dwellers on board. And Navin Raheja, CMD of Raheja Developers, said the project is a ‘loss-making proposition’, but he has taken this up because he is engaged in a social ‘mission’ to help urban poor get homes. He estimates this project to be worth Rs 500 cr.
DDA had invited technical bids for the project over a year ago. Eight developers, including Unitech, HDIL and Raheja, met the technical qualification criteria, but only one of them submitted financial bid early this year amid cash crunch faced by most realty firms.
Unitech, country’s second largest realty firm, declined to comment on why it didn’t submit a bid.
Courtesy:- ET dt:- 06-10-09
Patel Engineering forays into realty
As part of its strategy to unlock the value of its 1,100 acre land-bank, Patel Engineering plans to foray into the realty business and build commercial and residential property, IT parks and SEZs over the next three years, a top company official said. “The idea is to unlock the value of our huge land-bank which has been lying with us for nearly 30 years,” Patel Engineering Managing Director Rupen Patel said.
Courtesy:- BS dt:- 03-10-09
Courtesy:- BS dt:- 03-10-09
Patel Engineering forays into realty
As part of its strategy to unlock the value of its 1,100 acre land-bank, Patel Engineering plans to foray into the realty business and build commercial and residential property, IT parks and SEZs over the next three years, a top company official said. “The idea is to unlock the value of our huge land-bank which has been lying with us for nearly 30 years,” Patel Engineering Managing Director Rupen Patel said.
Courtesy:- BS dt:- 03-10-09
Courtesy:- BS dt:- 03-10-09
Monday, October 5, 2009
CLEANLINESS NEXT TO GODLINESS
It is believed Goddess Lakshmi appreciates cleanliness in a house on Diwali and that she visits the cleanest house first. So, get into the act and make your house shine, exhorts Vivek Shukla
With Diwali hardly a fortnight away, have you started ‘mission clean’ of your home or office to appease Goddess Lakshmi? If not yet, don’t delay this important assignment! You’re clean and clutter less space can fetch you huge returns, in case you either rent out or sell it. It is believed Goddess Lakshmi appreciates cleanliness in the house on Diwali — there is also an age-old belief that Goddess Lakshmi visits the cleanest house first.
Lamps are lit in the evening to welcome the Goddess and to light up her path into the house. Now, despite all our claims to modernity in our outlook, we start with the mop and swab at our homes and offices as the festival of lights approaches. However, some property owners don’t make any effort even during Diwali to make their properties neat and clean. Realty experts also strongly emphasize on the fact that properties that are aglow easily fetch better deals for their owners than those that are unclean.
Islam also requires a Muslim to clean his body, his clothes, his house, and the whole community’s living space. According to Khalid Ahmed, an Islamic scholar, Prophet Muhammad said: “Removing any harm from the road is charity (that will be rewarded by Allah).” Khalid says, “While people generally consider cleanliness a desirable attribute, Islam insists upon it, making it an indispensable tenet.” In the real estate, shabby-looking and badly maintained properties fail to attract the attention of prospective buyers and tenants.
Just visit any residential or commercial area, and you will easily find some properties that are spick and span inside out, while there are several others in an active state of neglect. It is really sad that some properties are hugely undervalued due only to the sheer apathy of their owners, who spoil the premium these properties can otherwise command. Unlike the shining and glowing offices and homes, unclean properties look very ominous too.
“It is a well-known fact that many properties suffer due to either sheer irresponsible attitude of their owners or when only the aged owners live in their house and their kids live abroad or elsewhere,” says Alimuddin Rafi Ahmed, CMD of ILD group. Realtors are of the opinion that apart from the fact that houses situated at nice locations like near parks or close to bus stands; the neat and clean houses are liked by one and all. Properties that are given a coat of whitewash at regular intervals, apart from granite polishing, and having nice fixtures in kitchens and bathrooms make a house attractive. And a house with manicured lawns is the most sought after. Even the minutiae matter - like clean switchboards!
Such properties will fetch their owner fabulous returns unlike those that are left to the mercy of god. R K Arora, CMD of Supertech Ltd, says, “It goes without saying that those who care for their houses also get nice returns. But often, in cases of property disputes, houses tend to be neglected and they fall into disrepair. In such a scenario, the disputant parties hardly spend any money on the maintenance part of the house.” Meanwhile, realtors have suggestion for all those who don’t keep their properties neat and clean — even if one were in some financial crisis, they must whitewash the property during Diwali time, or on some such occasion, regularly, if only to keep the price of the establishment intact.
Mahatma Gandhi used to say in his prayer meetings that “cleanliness is next to godliness”. And more often than not, he used to write in Navajivan the importance of cleanliness in our lives. On the issue of our unhygienic habits, Gandhiji strongly emphasized upon observing cleanliness in lavatories, and wrote in Navajivan on May 24, 1925: “I learnt 35 years ago that a lavatory must be as clean as a drawing room. I learnt this in the West. I believe that many rules about cleanliness in lavatories are observed more scrupulously in the West than in the East. The cause of many of our diseases is the condition of our lavatories and our bad habit of disposing of excreta anywhere and everywhere. I, therefore, believe in the absolute necessity of a clean place for answering the call of nature and clean articles for use at the time, have accustomed myself to them and wish that all others should do the same. The habit has become so firm in me that even if I wished to change it I would not be able to do so. Nor do I wish to change it.”
Courtesy:- TOI dt:- 03-10-09
With Diwali hardly a fortnight away, have you started ‘mission clean’ of your home or office to appease Goddess Lakshmi? If not yet, don’t delay this important assignment! You’re clean and clutter less space can fetch you huge returns, in case you either rent out or sell it. It is believed Goddess Lakshmi appreciates cleanliness in the house on Diwali — there is also an age-old belief that Goddess Lakshmi visits the cleanest house first.
Lamps are lit in the evening to welcome the Goddess and to light up her path into the house. Now, despite all our claims to modernity in our outlook, we start with the mop and swab at our homes and offices as the festival of lights approaches. However, some property owners don’t make any effort even during Diwali to make their properties neat and clean. Realty experts also strongly emphasize on the fact that properties that are aglow easily fetch better deals for their owners than those that are unclean.
Islam also requires a Muslim to clean his body, his clothes, his house, and the whole community’s living space. According to Khalid Ahmed, an Islamic scholar, Prophet Muhammad said: “Removing any harm from the road is charity (that will be rewarded by Allah).” Khalid says, “While people generally consider cleanliness a desirable attribute, Islam insists upon it, making it an indispensable tenet.” In the real estate, shabby-looking and badly maintained properties fail to attract the attention of prospective buyers and tenants.
Just visit any residential or commercial area, and you will easily find some properties that are spick and span inside out, while there are several others in an active state of neglect. It is really sad that some properties are hugely undervalued due only to the sheer apathy of their owners, who spoil the premium these properties can otherwise command. Unlike the shining and glowing offices and homes, unclean properties look very ominous too.
“It is a well-known fact that many properties suffer due to either sheer irresponsible attitude of their owners or when only the aged owners live in their house and their kids live abroad or elsewhere,” says Alimuddin Rafi Ahmed, CMD of ILD group. Realtors are of the opinion that apart from the fact that houses situated at nice locations like near parks or close to bus stands; the neat and clean houses are liked by one and all. Properties that are given a coat of whitewash at regular intervals, apart from granite polishing, and having nice fixtures in kitchens and bathrooms make a house attractive. And a house with manicured lawns is the most sought after. Even the minutiae matter - like clean switchboards!
Such properties will fetch their owner fabulous returns unlike those that are left to the mercy of god. R K Arora, CMD of Supertech Ltd, says, “It goes without saying that those who care for their houses also get nice returns. But often, in cases of property disputes, houses tend to be neglected and they fall into disrepair. In such a scenario, the disputant parties hardly spend any money on the maintenance part of the house.” Meanwhile, realtors have suggestion for all those who don’t keep their properties neat and clean — even if one were in some financial crisis, they must whitewash the property during Diwali time, or on some such occasion, regularly, if only to keep the price of the establishment intact.
Mahatma Gandhi used to say in his prayer meetings that “cleanliness is next to godliness”. And more often than not, he used to write in Navajivan the importance of cleanliness in our lives. On the issue of our unhygienic habits, Gandhiji strongly emphasized upon observing cleanliness in lavatories, and wrote in Navajivan on May 24, 1925: “I learnt 35 years ago that a lavatory must be as clean as a drawing room. I learnt this in the West. I believe that many rules about cleanliness in lavatories are observed more scrupulously in the West than in the East. The cause of many of our diseases is the condition of our lavatories and our bad habit of disposing of excreta anywhere and everywhere. I, therefore, believe in the absolute necessity of a clean place for answering the call of nature and clean articles for use at the time, have accustomed myself to them and wish that all others should do the same. The habit has become so firm in me that even if I wished to change it I would not be able to do so. Nor do I wish to change it.”
Courtesy:- TOI dt:- 03-10-09
Subscribe to:
Comments (Atom)