PropertyHeat

Maha govt plans fast track clearance for realty projects

Paul Joseph — Sun, 27 May 2012 16:57:09 +0000

There may be some respite for real estate companies in Mumbai whose projects have been stuck due to regulatory approvals. The Maharashtra government is now looking to fast track project clearances that have been gathering dust for over one year, reports CNBC-TV18. 2011 was a year of record low launches in the Mumbai realty space with leading companies barely announcing a handful of new projects. While Godrej Properties and Bombay Dyeing launched one project each. Lodha Developers could only launch its Wadala project which is outside the jurisdiction of the BMC or the Brihanmumbai Municipal Corporation others, such as Oberoi Realty, Indiabulls and Orbit Corporation did’nt even have a single

[via India Properties - Real Estate India - Indian Property News Site]

How southern cities escaped the real estate bubble

Paul Joseph — Sun, 27 May 2012 12:11:00 +0000

Everybody cribs about how costly buying real estate in Indian cities is. It’s a national pastime of sorts. But nowhere is the collective griping greater than in cities like Mumbai and Delhi, where prices have moved northwards faster than the rest of the county. In comparison, realty prices in south India are saner and everybody, from banks to realty developers to the first-time buyer feels

[via India Property, Real Estate India]

Why NRI should invest in Indian realty, as Indian realty market is facing downturn?

Paul Joseph — Sun, 27 May 2012 11:48:47 +0000

Indian real estate market is one of the most lucrative sectors for Non-Resident Indians to invest their foreign money. Moreover, this trend will continue for more 4-5 years as the consumption story of Indian real Estate market is not going to get over in near future leading to immense commercial growth prospects that in turn increase the demand for real estate. Although Indian Realty market is facing downfall, it is not correct to say that all cities are experiencing the same situation. It has been observed that some of the cities in India always have good chances of investment and these cities even in worst circumstances would be able to

[via India Properties - Real Estate India - Indian Property News Site]

Easy Access to Home Loans makes property buying easy

Paul Joseph — Sun, 27 May 2012 11:48:36 +0000

May 27, 2012, Pune: Banking has changed tremendously over the past few years. Easy access has been made possible by banks because of the secure nature of the transaction. Prices of homes and apartments have gone sky high. In these circumstances home loan institutions as well as customers both need an environment of co-existence. It is not possible for an ordinary citizen to buy a house without taking a home loan from home financing or banking institutions. “Eighty percent of home buyers depend on loans for the purchase of a property. An apartment or a house is also a very secure investment for the buyer. This has resulted in a

[via India Properties - Real Estate India - Indian Property News Site]

Big builders reduce land banks by half as they cut inventory, debt

Paul Joseph — Sun, 27 May 2012 11:45:37 +0000

Land banks of many leading realty players have shrunk by as much as 50 per cent in the past three to four years, as they try to cut their mounting debts. Real estate developers went on a land accumulation spree before 2007, as the property market was attractive. But the subsequent economic crisis weighed on their balance sheets and cash flows. Analysts say this is not a major reason to worry about since the inventory turnover ratio is intact, as the pace of launches has come down along with diminishing land reserves. DLF, India’s largest real estate company, had 349 million sq ft of land at the end of December

[via India Properties - Real Estate India - Indian Property News Site]

FIR in Indirapuram flats case

Paul Joseph — Sun, 27 May 2012 11:44:52 +0000

Ghaziabad Development Authority officials have lodged an FIR against a senior employee of a private builder at the Indirapuram police station. Superintendent of police SS Yadav confirmed that an FIR under Section 420 of the Indian Penal Code had been lodged against the company official. Last week, GDA officials had found that 170 flats in two towers of the company’s project at Indirapuram violated norms. The executive director of the firm said the company had sought information about the FIR and was ready to pay the required penalty. In addition to their survey to detect deviations from norms at various housing projects in Ghaziabad, senior officials of the GDA have

[via India Properties - Real Estate India - Indian Property News Site]

Stung by Minimum Alternate Tax, companies seek denotification of Special Economic Zone projects

Paul Joseph — Sun, 27 May 2012 11:44:49 +0000

GURGAON: Stung by the central government’s Minimum Alternate Tax (MAT), the industrial houses with SEZs in the Gurgaon region are now planning to seek denotification of their projects. In 2005, when the government came out with SEZ policy, Gurgaon wooed the maximum number of the investors resulting in formation of over two dozen SEZs. Due to the imposition of MAT, coupled with economic uncertainties, Ansal SEZ Projects has approached the government requesting denotification of their projects. Industry insiders claimed that more business houses are now planning to seek denotification of their SEZ projects. Top honchos of two industrial houses with SEZ projects in Gurgaon admitted that they are exploring the

[via India Properties - Real Estate India - Indian Property News Site]

Noida dream flats now a nightmare

Paul Joseph — Sun, 27 May 2012 11:44:47 +0000

NOIDA: The housing scheme launched by the Noida Authority in 2006 for high-income groups (HIG) has come as a shocker to many. The apartments were to come up in Sector 99 and each flat cost about Rs 50 lakh. However, a year after the flats were handed over to the allottees, the housing complex is in a shambles, with residents hopping over piles of rubble to go to their houses. To cap it all, the complex does not have a proper electricity connection or planned sewer lines, and even security arrangements are lax. The road leading to the complex has disappeared from the Noida Master Plan 2031. The area, which

[via India Properties - Real Estate India - Indian Property News Site]

Home prices in Surat dip by 25% in 3 months

Paul Joseph — Sun, 27 May 2012 11:44:46 +0000

In the last three months, prices of homes in the diamond city of Surat in Gujarat have crashed by over 25 per cent. The crash has been steepest between January and March 2012, states the latest data from National Housing Bank (NHB), an wholly-owned entity of Reserve Bank of India. Prices in Surat had been on a steady rise since the beginning of 2010. The cost of owing a home in this coastal town rose by almost 30 per cent in the two years between January 2010 and December 2011. However, according to the latest figures from RESIDEX, a mechanism created by NHB for tracking prices of residential properties in

[via India Properties - Real Estate India - Indian Property News Site]

Bangalore metro corridor has good potential for property investors

Paul Joseph — Sun, 27 May 2012 11:44:44 +0000

Investors looking for property development along the Metro Rail corridor need to evaluate the potential it holds for realty growth. Mass transit systems have over the years dominated travel in cities. Today, development around transit systems is an emerging trend. In major cities around the world, there are success stories of how development in the property market has grown around these transit systems. This is particularly relevant in the suburbs where transit has become more accessible. A mass transit system like the Metro Rail has a multi-dimensional impact. These include potential for mixed land use, and highdensity projects that will be more profitable than they would be in the absence

[via India Properties - Real Estate India - Indian Property News Site]