India Real Estate Tracker

Tatas to extend cheap housing to global market

paragjani — Sat, 07 Nov 2009 09:22:37 +0000

Encouraged by the good response to its affordable housing project from Mumbai, the Tata Group has decided to extend the concept in the international market. The group will take the project to other Indian markets as well. Tata Sons chairman Ratan Tata said the company is planning similar housing projects in other centres like Kolkata, Bangalore [...]

DLF to Build Rs 15 cr Flat in Delhi’s Posh Locality

paragjani — Sat, 07 Nov 2009 09:20:18 +0000

Real estate major DLF is coming up with Rs 15 crore flats in the posh Greater Kailash area, courtesy Municipal Corporation of Delhi (MCD), alleges Congress. Leader of Opposition in the Municipal Corporation of Delhi Jai Kishen Sharma has alleged that the civic body has “illegally” allotted the land meant for park and community centre [...]

Hero group in real estate with township project

paragjani — Sat, 07 Nov 2009 09:19:35 +0000

The Munjal family-controled Hero group, better known for its motorcycles, is entering the real estate business, with nearly Rs. 200 crore already invested. The cash-rich Munjals are turning the current slump in real estate into an opportunity as they had no previous exposure in the business historically marked by aggressively priced land deals. The Ludhiana-based group plans [...]

Investment in a second home

paragjani — Thu, 05 Nov 2009 12:12:17 +0000

According to a study conducted by Kapston.com, a Bangalore based e-business consulting firm, the sales of ’second homes’ in India increased by 50 per cent from 2002 to 2007, before the slump in the market brought the figures down to negligible. “Although the concept of second homes was accepted by the Indian audience, as the figures [...]

Home sales went up by 97% in September

paragjani — Thu, 05 Nov 2009 12:09:49 +0000

Mumbai: The sale of houses in Mumbai, which was plunging in the corresponding period last year, revived significantly in July-September. The figures are showing a drop again after realtors increased prices, data from the house registration department in the city shows. September saw a 97% jump in house registrations — which includes new and resold homes [...]

Home prices up in 15 cities, shows Residex

paragjani — Thu, 05 Nov 2009 12:04:24 +0000

The new index of residential price movement – Residex, released by the National Housing (NHB), shows a mixed trend among 15 major cities. As many as nine out of 15 cities, covered by Residex across the country, have witnessed hardening of residential property prices. Prices of homes have recorded a decline in cities such as Delhi, [...]

Mall vacancy in southern cities drops in July-Sept

paragjani — Thu, 05 Nov 2009 12:02:08 +0000

The average mall vacancy in the southern cities of Chennai, Hyderabad and Bangalore dropped to 5.7 per cent in the third quarter (July – September) of 2009 from seven per cent in the second quarter. However, supply in these three cities increased by one million sft, up 33 per cent from the second quarter, according to [...]

Sharp Drop in Kolkata Office Rentals

paragjani — Thu, 05 Nov 2009 11:56:08 +0000

If you had any doubts about new business ventures giving Kolkata the miss, here’s damning proof that should send the alarm bells ringing loud and clear. Vacancy levels have shot up with nearly a quarter of the available office space finding no takers between July and September. Though office space across the city has been [...]

SBI’s 8% Home Loan Scheme will End on November 8th

paragjani — Thu, 05 Nov 2009 11:55:14 +0000

The country’s largest lender, State Bank of India, will not extend its eight per cent home loan scheme, the cheapest in the country, beyond November 8. SBI had introduced its Happy Home loan scheme, that allowed the borrower to freeze the eight per cent interest rate for a year, in February this year. In August, [...]

SBI not to change home loan rates immediately

paragjani — Thu, 05 Nov 2009 11:45:46 +0000

MUMBAI: State Bank of India today said it did not have any immediate plans to revise its home loan rates, including that of the eight per cent special scheme originally slated to end this week. “We have decided to keep the rates at the same level in the immediate future (including the 8 per cent scheme). [...]

Tata Housing progresses into Phase II of Raisina Residency, launches Victoria in Gurgaon

paragjani — Wed, 04 Nov 2009 10:33:12 +0000

Delhi: Tata Housing Development Company, recently awarded the title of ‘Promising Future Company – Real Estate, 2009′ by GIREM, today announced the launch of ‘Victoria’, phase II of its premium and exclusive residential complex, Raisina Residency built on the theme of art and culture at Sector 59, Gurgaon. A total of 71 units comprising 3BHK [...]

CHD Developers launches Lifestyle GRAND at CHD City in Karnal

paragjani — Wed, 04 Nov 2009 10:31:27 +0000

New Delhi, November 2, 2009 – Sequel to the successful Launch of CHD Lifestyle -Stylish, Comfortable & Affordable independent floors which were sold out within just 6 weeks of its launch, CHD Developers Ltd, a leading real estate developer launched Lifestyle Grand, Comprising of 120 of Modern, Spacious & Majestic independent floors. The luxuriant and [...]

Builders revive stalled commercial projects on early signs of recovery

paragjani — Wed, 04 Nov 2009 10:30:11 +0000

Bangalore: Realty firms, encouraged by early signs of a revival in the market, are dusting off shelved or deferred projects and testing their financial viability to gauge which of these can be resurrected. Solid foundation: A commercial complex under construction at DLF Cybercity, Gurgaon. Developers who had shifted focus from commercial projects to residential sales during [...]

Home loan rates to harden as banks feel crunch news

paragjani — Wed, 04 Nov 2009 10:19:27 +0000

The days of cheap home loans are drawing to a close as the Reserve Bank of India prepares to harden its key policy rates. Large public sector banks, such as the State Bank of India and Punjab National Bank, are reportedly planning to withdraw the special schemes that offer rates as low as 8 per [...]

Recession good for property buyers

paragjani — Wed, 04 Nov 2009 07:44:06 +0000

The market may witness an over supply like condition in the affordable segment of residential real estate making prices range bound in times to come. Though the global financial crisis affected developers badly, it brought cheer to the middle class end users as builders were forced to bring down their units prices to the affordable [...]

DLF plans to make affordable homes

paragjani — Wed, 04 Nov 2009 07:37:40 +0000

New Delhi: India’s largest developer by market value, DLF Ltd, will now build apartments worth Rs30-50 lakh, a senior official said. The realtor plans to launch 3-4 million sq. ft of what it called value housing in the current fiscal to March, Saurabh Chawla, senior vice-president, finance, told analysts on a conference call on Friday. The projects [...]

Matrix Partners India invests Rs 47.34 cr in Siesta Hospitality

paragjani — Wed, 04 Nov 2009 07:16:42 +0000

Mumbai-based venture capital firm Matrix Partners India has invested around Rs 47.34 crore in Bengaluru-based Siesta Hospitality Services Ltd. Rishi Navani, Co–founder and Managing Director, Matrix Partners India said, “Siesta Hospitality has an innovative business model to address the hospitality needs of corporations.” Ashok Chattaraj, Co-founder of Siesta Hospitality declined to disclose the stake acquired but [...]

Taj, Radisson to open hotels in Amritsar

paragjani — Mon, 02 Nov 2009 13:06:37 +0000

To cash in on the growing demand of hotel rooms in Amritsar, not only local players but also major national and international hospitality chains are setting up new properties in the city. Among the prominent ones are Radisson, Holiday Inn and Taj Properties, according to sources. Experts in the hospitality sector say there is lot [...]

Hyderabad realty sees buyer interest

paragjani — Mon, 02 Nov 2009 13:02:55 +0000

Aggressive pricing and festival season discounts are beginning to draw home buyers in the Greater Hyderabad Municipal Corporation (GHMC) area, including surrounding municipalities and satellite townships. With the market correcting by nearly 30-40 per cent depending upon the location, be it core city area or peripheries, buyers have begun to not only evince interest but are [...]

Patel Smondoville Project Bangalore: Property in Bangalore

paragjani — Mon, 02 Nov 2009 12:55:55 +0000

Patel Smondoville Project Patel Realty Comming With Their New Residential Project Smondoville, Bangalore is a 120 acre integrated township comprising of three residential precincts, a business precincts, a tech icon precinct, hospitality and leisure precinct and an educational precincts. It has a beautiful natural lake within the township and is very conveniently located in electronic cityphase-I. [...]

CASA BELLA GOLD – By Lodha gets unprecedented response

paragjani — Mon, 02 Nov 2009 12:54:09 +0000

The largest & latest project by Lodha does a record 400 bookings in just 2 days of launch! Mumbai, 29th October, 2009 – Following the success of Casa Bella – which saw over 2300 families become a part of the City of Dreams since its launch in March 2009, Lodha Group now introduces Casa Bella Gold. [...]

DDA to allot flats in November after clean chit in scam

paragjani — Mon, 02 Nov 2009 12:16:46 +0000

The Delhi Development Authority (DDA) Thursday said allotment of nearly 5,000 flats under its 2008 housing scheme would start in November as the final report into a multi-million rupee housing scam has given it a clean chit. The Economic Offences Wing (EOW) of Delhi Police, in its report, cleared that the software used for the draw [...]

Duet India Hotels Invests $12M In Hyderabad VentureDuet India Hotels Ltd (DIH), the private equity firm of UK-based Duet Group, has invested $12 million in a five- star upscale hotel project in Hyderabad. The project, which comprises 210 rooms, is being developed at Gachibowli suburb, close to the IT district, of the city at a total investment of $26 million. The company will soon invest another $25 million in a hotel project in Bangalore

paragjani — Mon, 02 Nov 2009 12:08:52 +0000

Duet India Hotels, which is the investor and developer of the project, will infuse the remaining amount through debt. The company has already bought the land from L&T Phoenix Infoparks for the Hyderabad project. It is yet to finalise a hotel partner for the project, Dilip Puri, CEO of Duet India Hotels, told VCCircle. Across five projects, [...]

Choice Hotels India Expands Hotel Presence in Delhi NCR

paragjani — Thu, 29 Oct 2009 13:06:52 +0000

Gurgaon, Haryana, October 29, 2009 /India PRwire/ — Choice Hotels India has recently launched two additional properties in Delhi NCR as part of its rapidly expanding portfolio. They are Quality Inn Bliss in Gurgaon and Quality Hotel Sewa Grand in Faridabad. Quality Inn Bliss is conveniently located in the heart of Gurgaon amidst multinational companies and [...]

Hotel with a helipad beats New Town blues

paragjani — Thu, 29 Oct 2009 13:01:13 +0000

An artist’s impression of the Shristi-Westin hotel Rajarhat the hospitality hub scored a rare victory on Tuesday with the announcement of a Rs 800 crore five-star property, crowned with a helipad. Shristi Hotel, an arm of Shristi Infrastructure Development Corporation Ltd, has joined hands with global hospitality major Westin Hotels & Resorts, for the 323-key address which [...]

Majority of Dharavi dwellers may be ineligible for rehousing

paragjani — Thu, 29 Oct 2009 12:59:39 +0000

Even as the Dharavi redevelopment project seems likely to be pushed with renewed vigour by the new state government, fresh revelations threaten to put a big question mark over the rehabilitation of over 3 lakh slum residents, with some officials warning of a potential law-and-order problem. A preliminary assessment carried out by the competent authority—BMC assistant [...]

Home prices may hold despite tighter norms

paragjani — Thu, 29 Oct 2009 12:53:55 +0000

Home prices may not rise sharply despite an increase in provisioning norms on loans to the real estate sector by the central bank, reversing a stimulus measure and seeking to nip the formation of another asset bubble in the bud. Shares of property companies slumped, with the Bombay Stock Exchange Realty Index, which has risen 78% [...]

Park View Spa Next

paragjani — Tue, 27 Oct 2009 12:19:45 +0000

Gurgaon, a modern suburb of Delhi, is witnessing a flurry of activities in real estate sector. Well-known realty majors are developing a large number of projects to meet the growing demands in the commercial and residential sectors. Bestech Group, a twenty-year-old company with construction background and a prominent name in north India, is owned, managed [...]

Banks Combat With Each Other To Attract Buyers For Luxury Home Loans Segment

paragjani — Tue, 27 Oct 2009 09:55:38 +0000

With banks elbowing each other out to have premium customers in their fold, borrowing more than Rs 50 lakh to buy a high-end home has become a breeze. Standard Chartered Bank has joined a couple of others in offering enticing interest rates on home loans above Rs 50 lakh. State Bank of India (SBI), with [...]

London-Based Firm To Exhibit Housing Project In India To British Investors

paragjani — Tue, 27 Oct 2009 09:53:58 +0000

With the global economy recovering, a London-based firm plans to organise a property show to showcase residential projects in India to British investors. The event, to be organised by real estate agent Hamptons International, will be held Oct 30 to Nov 1 at the firm’s head office in London. “India has always been a major [...]

DLF Likely To Scrap Bangalore Row House Project

paragjani — Tue, 27 Oct 2009 08:56:30 +0000

DLF Ltd is reconsidering its decision to set up 270 row houses spread over 38 acres, a part of the firm’s large development project coming up in Jigani Industrial Area. Each row house was supposed to cost somewhere between Rs 70-80 lakh. Now, the company has changed its plan to exploit potential in mid-segment housing [...]

Vasavi Housing Launches Green Residential Apartment Project In Chennai

paragjani — Tue, 27 Oct 2009 07:15:25 +0000

Vasavi Housing Infrastructure has announced the launch of a Rs. 20 crore residential project ‘Anicham.’ For this project, a complete green house concept would be adopted which consists of 54 apartments (two and three bedrooms) at Kelambakkam on the outskirts of Chennai. The project is expected to complete by June 2011. Source : The Hindu Business [...]

DDA May Start The Allotment Process By November-end

paragjani — Tue, 27 Oct 2009 07:10:37 +0000

If everything goes fine, the Delhi Development Authority (DDA) may begin the process of allotting flats to its allottees of the 2008 housing scheme by November-end. The draw of lots to 5,238 flats was held in December 2008. This year, in January, the Union Urban Development Ministry froze the allotments after allegations of irregularities in [...]

Low Cost Homes – A Boon For Real Estate Developers

paragjani — Tue, 27 Oct 2009 07:06:55 +0000

The earnings of DLF and Unitech in this quarter were better than the June quarter as sale of low-priced homes brought in hopes of revival, But this may fizzle out if developers keep raising prices. During the current fiscal, Unitech and DLF have sold over 7 million sq ft and 4 million sq ft of [...]

Mumbai’s super-rich back to house-hunting

paragjani — Mon, 26 Oct 2009 10:41:54 +0000

Mumbai, Oct. 24 Luxury homes are back in the reckoning and it appears that the days when sales are complete before the shovel is put to earth is not too far off. A niche Mumbai expo, with just seven developers show-casing their high-end offerings in the price Rs 4.5-22-crore price range, attracted substantial high net worth [...]

Royal Palms Launches 4 More Affordable Housing Projects

paragjani — Mon, 26 Oct 2009 10:40:21 +0000

Royal Palms Estates, Mumbai’s leading developer, has made the festive season even more cheerful by launching 4 more affordable housing projects at Goregaon East with completion dates of 24 months. The move comes in the wake of the tremendous response to the sale of ready possession properties last month with those who were left out [...]

Guj builders plan permanent property show

paragjani — Mon, 26 Oct 2009 10:38:30 +0000

Gujarat based builders are planning to replicate the Japanese model of permanent property show to display large number of real estate projects at a single venue near Ahmedabad. The idea of developing a facility for displaying built sample houses along with layouts has come from a recent study tour of Gujarat chapter of Confederation of Real [...]

Home loan processing just got tougher

paragjani — Mon, 26 Oct 2009 10:37:05 +0000

The emergence of “affordable” housing has revived the real estate market, but for prospective buyers, getting a home loan approval has just got a little more difficult. For one, banks, wiser from the meltdown, are rechecking the installment-to- income ratios (the figure that determines the EMI). Earlier, banks extended EMI (equated monthly installment) on the loan up [...]

Foreign hotels jack up star value in India

paragjani — Mon, 26 Oct 2009 10:04:29 +0000

Premier Inn, the UK’s largest hotel chain, is popular among international travellers as a budget hotel. But in India, where it will Hotel open its first hotel in Bangalore early next month, Premier Inn is pitching itself as a value-for-money mid-market brand. “In India we realised that the consumers’ connotation of a budget hotel means something [...]

UK’s Premier Inn to open its First Hotel in Bangalore

paragjani — Fri, 23 Oct 2009 13:09:26 +0000

Premier Inn, the UK’s largest hotel chain, is popular among international travellers as a budget hotel. But in India, where it will open its first hotel in Bangalore early next month, Premier Inn is pitching itself as a value-for-money mid-market brand. “In India we realised that the consumers’ connotation of a budget hotel means something [...]

Home loan seekers can now expect greater transparency

paragjani — Fri, 23 Oct 2009 13:07:57 +0000

A panel from Reserve Bank of India has proposed a transparent pricing structure for floating rate loans. As per the proposal the benchmark rates would get automatically revised with the reduction in cost of funds. The panel has suggested the banks to discontinue using bank’s prime lending rate in pricing floating rate loans and arrive at [...]

RBI moves to make loans transparent

paragjani — Fri, 23 Oct 2009 05:30:41 +0000

If you have a home loan at floating rates, its a fair bet you have had the frustration of reading about banks reducing their rates only to find it makes no difference to you. However, when rates were revised upwards, you could be sure the interest on your loan would mount too. There is now the [...]

Century Textiles to develop Worli land

paragjani — Fri, 23 Oct 2009 05:29:58 +0000

Centure Textiles and Industries, part of the BK Birla Group, plans to start commercial real estate development at its Worli mill land and will float a separate division to control it. Century Textiles is fighting a legal battle with the Wadias for control of 10 acre of land on the same Worli mill property. Century has [...]

Realty builds on affordable homes

paragjani — Fri, 23 Oct 2009 05:21:30 +0000

NEW DELHI: Ekam and Roma Bansal’s (names changed on request) dream of owning a home came true last month when they booked a 12th-floor two-bedroom apartment on the Greater Noida Expressway, near Delhi. They will be paying about Rs 30 lakh, of which some Rs 20 lakh will financed by a loan. The Bansals are thanking their [...]

Banks Compete to Attract Customers for Premium Category Home Loan

paragjani — Wed, 21 Oct 2009 11:44:44 +0000

Borrowing more than Rs 50 lakh to buy a high-end home has become a breeze, with banks elbowing each other out to have premium customers in their fold. Standard Chartered Bank, a major foreign bank in India, has joined a couple of others in offering very attractive interest rates on home loans above Rs 50 [...]

BPTP sells Rs 1,600 cr worth housing projects in six months

paragjani — Wed, 21 Oct 2009 11:43:21 +0000

NEW DELHI: Real estate firm BPTP has sold properties worth Rs 1,600 crore during the first half of the current fiscal from its three housing projects in Faridabad in the national capital region. On the back of improved sentiment in the property market, BPTP has sold nearly 7,000 units in these three projects, part of a [...]

Mall developers rebuild their hopes on housing projects

paragjani — Wed, 21 Oct 2009 11:40:15 +0000

With declining demand making commercial projects increasingly unviable, a host of developers are busy converting mall projects into residential ones. Rituraj Verma, director of retail services at Knight Frank India, a global property consultancy, estimates that about 25 out of the 375 mall projects planned two years ago may see the light of day in the [...]

Residential Prices go up in Mumbai

paragjani — Wed, 21 Oct 2009 11:30:56 +0000

Mumbai’s residential property prices are on on the rise even as the buyer is not in a hurry to finish a deal. According to the city’s property registration data, there has been a 13% month-on-month drop in the number of apartments registered in August 2009 this year as compared with the previous month. This trend [...]

Major Hoteliers Make Big Plans for Asia-Pacific

paragjani — Wed, 21 Oct 2009 10:18:24 +0000

Two major players in the international hotel scene—Starwood and Accor—have carved out significant expansion plans in the Asia-Pacific. Starwood has opened its 150th hotel in the region, the ITC Royal Gardenia, a Luxury Collection hotel in Bengaluru, India. The hotelier has signed 23 new deals for Asia-Pacific this year; 15 are slated to open by [...]

Disha Direct and Ansal Housing Present Thai Villas in an Island of Luxury at Shahpur

paragjani — Wed, 21 Oct 2009 10:13:53 +0000

Mumbai, Maharashtra, India, Thursday, October 15, 2009 — (Business Wire India) Disha Direct Marketing Services Pvt. Ltd, a leading property and Real Estate Marketing Company based in Western India, has associated with the New Delhi-based Ansal Housing & Construction Ltd to present Suvarna Vilas, an ultra premium Second Homes project. Located in Khaire Village near Shahpur, off [...]