Aheesh BR (47) is a soft-ware professional settled in US for the past seven years. Apart from his monthly savings, he transfers a part of his salary to his bank account back home to invest in the Indian equity market.
Real estate in India also forms a major part of his investment portfolio.
Non-resident Indians are increasingly inclined towards investing in Indian stock market and real estate sector.
They’re picking up stocks of Indian firms that are seen to be fundamentally strong.
“India is growing at a faster pace than other countries and the equity market has outperformed those of developed nations and likely to continue doing so, says T Srikanth Bagavat, MD of Hexagon Capital advisors,
Explaining why there’s so much demand from NRIs for Indian stocks. Most NRIs are aware of the potential of investments in India but find it difficult to execute a compressive plan. Most green card holders have not capitalized in the Indian growth story because of their poor evaluation of the market. NRIs rarely find time from their hectic professional life. They lack proper advice or find handling and monitoring investment transactions inconvenient, says Anand KS of Nile Financial Planners.
Another area of concern expressed by NRIs is the transparency level on charges in various trading sites and other investment options. Remember to ask for details regarding time horizon of investment, risk and return before starting off and opening accounts.
“A diversified portfolio is recommended for NRIs. We recommend a portfolio based on the investor’s risk profile and accordingly include bonds, large cap and sector funds and mostly bluechip (large cap) stock /funds,
as they possess less risk compared to mid caps,” says Bhagavat.
“When we have investors from the US, we have to be alert enough to only recommend funds that do not require
approval from the US securities and Exchange Commission (sec), the agency responsible for administering federals securities law in US.”
MF investment is one of the best avenues to start with. A combination of debt and equity funds can be used to manage risk. This is operationally the simplest form of investing. “A t the next level, an investor comfortable with equity investments can invest directly. Real estate is another sustaining avenue to invest,” says Anil Rego,
CEO of Right Horizons.
NRIs need to keep in mind the restrictions on many government bonds. An NRI needs to decide if he wants his returns repatriable or not. Repatriable investments would have higher regulations and operationally would be more difficult.
To invest on a repatriable basis, the person must have an NRI or FCNR bank account in India. In this case, the net income or capital gains after tax is eligible for repatriation subject to regulatory guidelines. In the case of investment on a non-repatriation basis, only the net income the dividend arising out of investment in eligible for repatriation.
Friday, February 29, 2008
NRIs BET ON STROCKS, REAL ESTATE
Aheesh BR (47) is a soft-ware professional settled in US for the past seven years. Apart from his monthly savings, he transfers a part of his salary to his bank account back home to invest in the Indian equity market.
Real estate in India also forms a major part of his investment portfolio.
Non-resident Indians are increasingly inclined towards investing in Indian stock market and real estate sector.
They’re picking up stocks of Indian firms that are seen to be fundamentally strong.
“India is growing at a faster pace than other countries and the equity market has outperformed those of developed nations and likely to continue doing so, says T Srikanth Bagavat, MD of Hexagon Capital advisors,
Explaining why there’s so much demand from NRIs for Indian stocks. Most NRIs are aware of the potential of investments in India but find it difficult to execute a compressive plan. Most green card holders have not capitalized in the Indian growth story because of their poor evaluation of the market. NRIs rarely find time from their hectic professional life. They lack proper advice or find handling and monitoring investment transactions inconvenient, says Anand KS of Nile Financial Planners.
Another area of concern expressed by NRIs is the transparency level on charges in various trading sites and other investment options. Remember to ask for details regarding time horizon of investment, risk and return before starting off and opening accounts.
“A diversified portfolio is recommended for NRIs. We recommend a portfolio based on the investor’s risk profile and accordingly include bonds, large cap and sector funds and mostly bluechip (large cap) stock /funds,
as they possess less risk compared to mid caps,” says Bhagavat.
“When we have investors from the US, we have to be alert enough to only recommend funds that do not require
approval from the US securities and Exchange Commission (sec), the agency responsible for administering federals securities law in US.”
MF investment is one of the best avenues to start with. A combination of debt and equity funds can be used to manage risk. This is operationally the simplest form of investing. “A t the next level, an investor comfortable with equity investments can invest directly. Real estate is another sustaining avenue to invest,” says Anil Rego,
CEO of Right Horizons.
NRIs need to keep in mind the restrictions on many government bonds. An NRI needs to decide if he wants his returns repatriable or not. Repatriable investments would have higher regulations and operationally would be more difficult.
To invest on a repatriable basis, the person must have an NRI or FCNR bank account in India. In this case, the net income or capital gains after tax is eligible for repatriation subject to regulatory guidelines. In the case of investment on a non-repatriation basis, only the net income the dividend arising out of investment in eligible
for repatriation.
Courtesy: Times business
12. feb. 2008
Real estate in India also forms a major part of his investment portfolio.
Non-resident Indians are increasingly inclined towards investing in Indian stock market and real estate sector.
They’re picking up stocks of Indian firms that are seen to be fundamentally strong.
“India is growing at a faster pace than other countries and the equity market has outperformed those of developed nations and likely to continue doing so, says T Srikanth Bagavat, MD of Hexagon Capital advisors,
Explaining why there’s so much demand from NRIs for Indian stocks. Most NRIs are aware of the potential of investments in India but find it difficult to execute a compressive plan. Most green card holders have not capitalized in the Indian growth story because of their poor evaluation of the market. NRIs rarely find time from their hectic professional life. They lack proper advice or find handling and monitoring investment transactions inconvenient, says Anand KS of Nile Financial Planners.
Another area of concern expressed by NRIs is the transparency level on charges in various trading sites and other investment options. Remember to ask for details regarding time horizon of investment, risk and return before starting off and opening accounts.
“A diversified portfolio is recommended for NRIs. We recommend a portfolio based on the investor’s risk profile and accordingly include bonds, large cap and sector funds and mostly bluechip (large cap) stock /funds,
as they possess less risk compared to mid caps,” says Bhagavat.
“When we have investors from the US, we have to be alert enough to only recommend funds that do not require
approval from the US securities and Exchange Commission (sec), the agency responsible for administering federals securities law in US.”
MF investment is one of the best avenues to start with. A combination of debt and equity funds can be used to manage risk. This is operationally the simplest form of investing. “A t the next level, an investor comfortable with equity investments can invest directly. Real estate is another sustaining avenue to invest,” says Anil Rego,
CEO of Right Horizons.
NRIs need to keep in mind the restrictions on many government bonds. An NRI needs to decide if he wants his returns repatriable or not. Repatriable investments would have higher regulations and operationally would be more difficult.
To invest on a repatriable basis, the person must have an NRI or FCNR bank account in India. In this case, the net income or capital gains after tax is eligible for repatriation subject to regulatory guidelines. In the case of investment on a non-repatriation basis, only the net income the dividend arising out of investment in eligible
for repatriation.
Courtesy: Times business
12. feb. 2008
CONSTRUCTING A BETTER INDIA
According to a study by ASSOCHAM, the burgeoning Indian constuction industry, currently worth $70 billion, will rise to US $120 billion by 2010. this growth is believed to be people-intensive. The Indian construction sector currently employs about 30 million and will provide direct and indirect job prospects to 90 million people, requiring both skilled and unskilled manpower.
At present, the manpower shortage in the Indian construction industry is anywhere above 50 per cent, “ says Krishna Thota, Deputy GM – HR, Soma Enterprise Ltd. SK Dutt, Head {T&B}HED, Larsen & Toubro Ltd says, “The current manpower shortage in this sector is growing by the day but is still within manageable proportions. However, the pressure is beginning to tell and there is the likelihood of a major mismatch between demand and supply, in the future, unless proactive steps are taken to address the issue.” Construction is a work-force intrinsic industry and the work-force is a mixture of both, skilled as well as un-skilled labour. And due to the recent development in the sector, a lot of mechanisation has taken place due to which even the un-skilled needs to be trained to work with the machines. ‘Whatever the initiatives, the government and the industry are taking up, its only affecting the tip of the iceberg and we are not seeing much happening in allocation of funds and grants at the levels required,” says Thota. Thota further adds that there is dearth in the market for middle and senior level managers and the supply side needs to improve i.e. new colleges must come up and the industry must invest in training and development of the prospective employees. He further adds, “Unless there is collaboration between the industry and the government, this issue can’t be resolved.” This industry is going the way many other industries went; boom, mismatch and then correctional steps. At present, we are in stage 2 i.e. mismatch in demand and supply because of the boom and the problem must be sorted out soon to cash on the heights.
At present, the manpower shortage in the Indian construction industry is anywhere above 50 per cent, “ says Krishna Thota, Deputy GM – HR, Soma Enterprise Ltd. SK Dutt, Head {T&B}HED, Larsen & Toubro Ltd says, “The current manpower shortage in this sector is growing by the day but is still within manageable proportions. However, the pressure is beginning to tell and there is the likelihood of a major mismatch between demand and supply, in the future, unless proactive steps are taken to address the issue.” Construction is a work-force intrinsic industry and the work-force is a mixture of both, skilled as well as un-skilled labour. And due to the recent development in the sector, a lot of mechanisation has taken place due to which even the un-skilled needs to be trained to work with the machines. ‘Whatever the initiatives, the government and the industry are taking up, its only affecting the tip of the iceberg and we are not seeing much happening in allocation of funds and grants at the levels required,” says Thota. Thota further adds that there is dearth in the market for middle and senior level managers and the supply side needs to improve i.e. new colleges must come up and the industry must invest in training and development of the prospective employees. He further adds, “Unless there is collaboration between the industry and the government, this issue can’t be resolved.” This industry is going the way many other industries went; boom, mismatch and then correctional steps. At present, we are in stage 2 i.e. mismatch in demand and supply because of the boom and the problem must be sorted out soon to cash on the heights.
CONSTRUCTING A BETTER INDIA
According to a study by ASSOCHAM, the burgeoning Indian constuction industry, currently worth $70 billion, will rise to US $120 billion by 2010. this growth is believed to be people-intensive. The Indian construction sector currently employs about 30 million and will provide direct and indirect job prospects to 90 million people, requiring both skilled and unskilled manpower.
At present, the manpower shortage in the Indian construction industry is anywhere above 50 per cent, “ says Krishna Thota, Deputy GM – HR, Soma Enterprise Ltd. SK Dutt, Head {T&B}HED, Larsen & Toubro Ltd says, “The current manpower shortage in this sector is growing by the day but is still within manageable proportions. However, the pressure is beginning to tell and there is the likelihood of a major mismatch between demand and supply, in the future, unless proactive steps are taken to address the issue.” Construction is a work-force intrinsic industry and the work-force is a mixture of both, skilled as well as un-skilled labour. And due to the recent development in the sector, a lot of mechanisation has taken place due to which even the un-skilled needs to be trained to work with the machines. ‘Whatever the initiatives, the government and the industry are taking up, its only affecting the tip of the iceberg and we are not seeing much happening in allocation of funds and grants at the levels required,” says Thota. Thota further adds that there is dearth in the market for middle and senior level managers and the supply side needs to improve i.e. new colleges must come up and the industry must invest in training and development of the prospective employees. He further adds, “Unless there is collaboration between the industry and the government, this issue can’t be resolved.” This industry is going the way many other industries went; boom, mismatch and then correctional steps. At present, we are in stage 2 i.e. mismatch in demand and supply because of the boom and the problem must be sorted out soon to cash on the heights.
At present, the manpower shortage in the Indian construction industry is anywhere above 50 per cent, “ says Krishna Thota, Deputy GM – HR, Soma Enterprise Ltd. SK Dutt, Head {T&B}HED, Larsen & Toubro Ltd says, “The current manpower shortage in this sector is growing by the day but is still within manageable proportions. However, the pressure is beginning to tell and there is the likelihood of a major mismatch between demand and supply, in the future, unless proactive steps are taken to address the issue.” Construction is a work-force intrinsic industry and the work-force is a mixture of both, skilled as well as un-skilled labour. And due to the recent development in the sector, a lot of mechanisation has taken place due to which even the un-skilled needs to be trained to work with the machines. ‘Whatever the initiatives, the government and the industry are taking up, its only affecting the tip of the iceberg and we are not seeing much happening in allocation of funds and grants at the levels required,” says Thota. Thota further adds that there is dearth in the market for middle and senior level managers and the supply side needs to improve i.e. new colleges must come up and the industry must invest in training and development of the prospective employees. He further adds, “Unless there is collaboration between the industry and the government, this issue can’t be resolved.” This industry is going the way many other industries went; boom, mismatch and then correctional steps. At present, we are in stage 2 i.e. mismatch in demand and supply because of the boom and the problem must be sorted out soon to cash on the heights.
Thursday, February 28, 2008
GODREJ PROPERTIES TO FILE FOR PUBLIC OFFER SOON
Godrej Industries Ltd chairman Adi Godrej said on Tuesday the group’s real estate unit, Godrej Properties, will file papers for an initial public offer with the markets regulator in “a few days”. “We will file the prospectus with Sebi (Securities and exchange Board of India) in a few days,” Godrej said.
“We will be diluting about 10% stake.” The company is currently developing about 20 million sq ft in Mumbai, Pune, Kolkata, Bangalore and Hyderabad. Indian real estate firms, hit by surging land costs and curbs on bank funding, have rushed to the capital market as they expand to cash in on an urban real estate boom.
In 2007, real estate firms mopped up a third of all funds raised through public offers in India. Twelve real estate firms raised Rs 15,185 crore, including the country largest real estate firm DLF, which raised $2.25 billion
Courtesy: Wednesday T.O.I 27 February
“We will be diluting about 10% stake.” The company is currently developing about 20 million sq ft in Mumbai, Pune, Kolkata, Bangalore and Hyderabad. Indian real estate firms, hit by surging land costs and curbs on bank funding, have rushed to the capital market as they expand to cash in on an urban real estate boom.
In 2007, real estate firms mopped up a third of all funds raised through public offers in India. Twelve real estate firms raised Rs 15,185 crore, including the country largest real estate firm DLF, which raised $2.25 billion
Courtesy: Wednesday T.O.I 27 February
OMAXE TO SET UP THEME TOWNSHIP
Delhi-based real estate major Omaxe will develop a theme township on 393 acre at Naya Raipur — the capital city of Chattisgarh. The Omaxe Golf Theme Township will be developed at a cost of Rs 1,800 crore.
Omaxe is one of the India’s largest real estate and construction firms with operations in 31 cities. It has developed residential and commercial real estate projects ranging from integrated toxnships, group housing, office/commercial spaces, shopping malls, hotels, IT and bio-tech parks to special economic zones.
It has already developed nearly 5.59 million sq ft of residential and commercial space. Currently, Omaxe is working on 55 residential and commercial projects comprising 24 group housing projects, 16 integrated townships, 14 shopping malls, commercial complexes and hotels.
Omaxe won the project in an auction. It consists of an 18-hole Golf course, a hi-end golf resort, golf villas and apartments and other residential and commercial buildings.
Work on the township will commence shortly. Company chairman Rohtas Goel said it will mark the beginning of company’s initiative in Chhattisgarh. Being the first premier township in Raipur, it will be a landmak project in the area.
Courtesy: Wednesday T.O.I 27 February
Omaxe is one of the India’s largest real estate and construction firms with operations in 31 cities. It has developed residential and commercial real estate projects ranging from integrated toxnships, group housing, office/commercial spaces, shopping malls, hotels, IT and bio-tech parks to special economic zones.
It has already developed nearly 5.59 million sq ft of residential and commercial space. Currently, Omaxe is working on 55 residential and commercial projects comprising 24 group housing projects, 16 integrated townships, 14 shopping malls, commercial complexes and hotels.
Omaxe won the project in an auction. It consists of an 18-hole Golf course, a hi-end golf resort, golf villas and apartments and other residential and commercial buildings.
Work on the township will commence shortly. Company chairman Rohtas Goel said it will mark the beginning of company’s initiative in Chhattisgarh. Being the first premier township in Raipur, it will be a landmak project in the area.
Courtesy: Wednesday T.O.I 27 February
GODREJ PROPERTIES TO FILE FOR PUBLIC OFFER SOON
Godrej Industries Ltd chairman Adi Godrej said on Tuesday the group’s real estate unit, Godrej Properties, will file papers for an initial public offer with the markets regulator in “a few days”. “We will file the prospectus with Sebi (Securities and exchange Board of India) in a few days,” Godrej said.
“We will be diluting about 10% stake.” The company is currently developing about 20 million sq ft in Mumbai, Pune, Kolkata, Bangalore and Hyderabad. Indian real estate firms, hit by surging land costs and curbs on bank funding, have rushed to the capital market as they expand to cash in on an urban real estate boom.
In 2007, real estate firms mopped up a third of all funds raised through public offers in India. Twelve real estate firms raised Rs 15,185 crore, including the country largest real estate firm DLF, which raised $2.25 billion
Courtesy: Wednesday T.O.I 27 February
“We will be diluting about 10% stake.” The company is currently developing about 20 million sq ft in Mumbai, Pune, Kolkata, Bangalore and Hyderabad. Indian real estate firms, hit by surging land costs and curbs on bank funding, have rushed to the capital market as they expand to cash in on an urban real estate boom.
In 2007, real estate firms mopped up a third of all funds raised through public offers in India. Twelve real estate firms raised Rs 15,185 crore, including the country largest real estate firm DLF, which raised $2.25 billion
Courtesy: Wednesday T.O.I 27 February
OMAXE TO SET UP THEME TOWNSHIP
Delhi-based real estate major Omaxe will develop a theme township on 393 acre at Naya Raipur — the capital city of Chattisgarh. The Omaxe Golf Theme Township will be developed at a cost of Rs 1,800 crore.
Omaxe is one of the India’s largest real estate and construction firms with operations in 31 cities. It has developed residential and commercial real estate projects ranging from integrated toxnships, group housing, office/commercial spaces, shopping malls, hotels, IT and bio-tech parks to special economic zones.
It has already developed nearly 5.59 million sq ft of residential and commercial space. Currently, Omaxe is working on 55 residential and commercial projects comprising 24 group housing projects, 16 integrated townships, 14 shopping malls, commercial complexes and hotels.
Omaxe won the project in an auction. It consists of an 18-hole Golf course, a hi-end golf resort, golf villas and apartments and other residential and commercial buildings.
Work on the township will commence shortly. Company chairman Rohtas Goel said it will mark the beginning of company’s initiative in Chhattisgarh. Being the first premier township in Raipur, it will be a landmak project in the area.
Courtesy: Wednesday T.O.I 27 February
Omaxe is one of the India’s largest real estate and construction firms with operations in 31 cities. It has developed residential and commercial real estate projects ranging from integrated toxnships, group housing, office/commercial spaces, shopping malls, hotels, IT and bio-tech parks to special economic zones.
It has already developed nearly 5.59 million sq ft of residential and commercial space. Currently, Omaxe is working on 55 residential and commercial projects comprising 24 group housing projects, 16 integrated townships, 14 shopping malls, commercial complexes and hotels.
Omaxe won the project in an auction. It consists of an 18-hole Golf course, a hi-end golf resort, golf villas and apartments and other residential and commercial buildings.
Work on the township will commence shortly. Company chairman Rohtas Goel said it will mark the beginning of company’s initiative in Chhattisgarh. Being the first premier township in Raipur, it will be a landmak project in the area.
Courtesy: Wednesday T.O.I 27 February
Wednesday, February 27, 2008
DD WILL CONSTRUCT FLATS COSTING RS.1.00 LAKH
If one talks about providing a flat at a cost of Rs.1.00 lakh, the hearer will take it as a plain lie, but DDA has prepared an important plan to make it true. Under this scheme 24500 flats will be constructed for economically weaker section (EWS) in the first phase. DDA has sent a proposal to Central Urban Development ministry that the price of the flat be kept at Rs.1.00 lakh.
As per DDA sources, 24,500 flats would be constructed in first phase for EWS in Narela, Rohini and Dwarka. The design of the flats will be prepared by DDA’s engineering department whereas these will be got constructed by private colonizers. It is given to understand that tenders have been called for the same and process to finalize same is in the last stage. After completion of few other formalities, construction work will be started in May-June this year. A senior DDA officer informed that EWS scheme flats will be allotted only to those jhuggi-jhopri dwellers that will be removed from DDA’s land. He informed that an extreme alertness will be exercised in allotment of flats. After doing survey of poor category people, flatss will be allotted by draw of lots. It will be ensured during the draw that such people, who are not covered under EWS scheme, may not join this scheme. Therefore, first survey will be got done to ensure the same. As per the statement of a DDA officer that subsequently such flats will be constructed in other areas of Delhi from where jhuggi-jhopri dwellers have been removed.
DDA officers informed that construction cost of one flat under this scheme will work out to Rs3.00 lakh apprx. Where as this amount does not include cost of land. Despite it, the DDA has sent the proposal to central urban development ministry that they should provide one flat to EWS category people in not more than Rs.1.00 lakh price. The officer further told that in addition to give a rebate in construction of flat and cost of land, rebate will also be given under Jawahar Lal Nehre Renewal Mission so that poor category people may buy this flat.
An officer of engineering department informed that this flat will consist of one bed-room one common room and one kitchen & a toilet. It was first planned that DDA will construct 43,000 EWS flats, but now 24,500 EWS flats and 22,000 LIG flats would be constructed. However, survey is going on based on the need to construct EWS flat in several other parts of Delhi. Construction of these flats will be completed in about four year’s time.
http://www.zameen-zaidad.com
DD WILL CONSTRUCT FLATS COSTING RS.1.00 LAKH
If one talks about providing a flat at a cost of Rs.1.00 lakh, the hearer will take it as a plain lie, but DDA has prepared an important plan to make it true. Under this scheme 24500 flats will be constructed for economically weaker section (EWS) in the first phase. DDA has sent a proposal to Central Urban Development ministry that the price of the flat be kept at Rs.1.00 lakh.
As per DDA sources, 24,500 flats would be constructed in first phase for EWS in Narela, Rohini and Dwarka. The design of the flats will be prepared by DDA’s engineering department whereas these will be got constructed by private colonizers. It is given to understand that tenders have been called for the same and process to finalize same is in the last stage. After completion of few other formalities, construction work will be started in May-June this year. A senior DDA officer informed that EWS scheme flats will be allotted only to those jhuggi-jhopri dwellers that will be removed from DDA’s land. He informed that an extreme alertness will be exercised in allotment of flats. After doing survey of poor category people, flats will be allotted by draw of lots. It will be ensured during the draw that such people, who are not covered under EWS scheme, may not join this scheme. Therefore, first survey will be got done to ensure the same. As per the statement of a DDA officer that subsequently such flats will be constructed in other areas of Delhi from where jhuggi-jhopri dwellers have been removed.
DDA officers informed that construction cost of one flat under this scheme will work out to Rs3.00 lakh apprx. Where as this amount does not include cost of land. Despite it, the DDA has sent the proposal to central urban development ministry that they should provide one flat to EWS category people in not more than Rs.1.00 lakh price. The officer further told that in addition to give a rebate in construction of flat and cost of land, rebate will also be given under Jawahar Lal Nehre Renewal Mission so that poor category people may buy this flat.
An officer of engineering department informed that this flat will consist of one bed-room one common room and one kitchen & a toilet. It was first planned that DDA will construct 43,000 EWS flats, but now 24,500 EWS flats and 22,000 LIG flats would be constructed. However, survey is going on based on the need to construct EWS flat in several other parts of Delhi. Construction of these flats will be completed in about four year’s time.
http://www.zameen-zaidad.com
As per DDA sources, 24,500 flats would be constructed in first phase for EWS in Narela, Rohini and Dwarka. The design of the flats will be prepared by DDA’s engineering department whereas these will be got constructed by private colonizers. It is given to understand that tenders have been called for the same and process to finalize same is in the last stage. After completion of few other formalities, construction work will be started in May-June this year. A senior DDA officer informed that EWS scheme flats will be allotted only to those jhuggi-jhopri dwellers that will be removed from DDA’s land. He informed that an extreme alertness will be exercised in allotment of flats. After doing survey of poor category people, flats will be allotted by draw of lots. It will be ensured during the draw that such people, who are not covered under EWS scheme, may not join this scheme. Therefore, first survey will be got done to ensure the same. As per the statement of a DDA officer that subsequently such flats will be constructed in other areas of Delhi from where jhuggi-jhopri dwellers have been removed.
DDA officers informed that construction cost of one flat under this scheme will work out to Rs3.00 lakh apprx. Where as this amount does not include cost of land. Despite it, the DDA has sent the proposal to central urban development ministry that they should provide one flat to EWS category people in not more than Rs.1.00 lakh price. The officer further told that in addition to give a rebate in construction of flat and cost of land, rebate will also be given under Jawahar Lal Nehre Renewal Mission so that poor category people may buy this flat.
An officer of engineering department informed that this flat will consist of one bed-room one common room and one kitchen & a toilet. It was first planned that DDA will construct 43,000 EWS flats, but now 24,500 EWS flats and 22,000 LIG flats would be constructed. However, survey is going on based on the need to construct EWS flat in several other parts of Delhi. Construction of these flats will be completed in about four year’s time.
http://www.zameen-zaidad.com
DELHI-MUMBAI INDUSTRIAL CORRIDOR
This is a 1,483 km long dedicated freight corridor that will pass through states like Uttar Pradesh, NCR, Haryana, Rajasthan, Gujarat, and Maharashtra. A band of 150 km on each side of the freight corridor will be developed as an industrial corridor.
Six investment regions and six industrial areas will be developed along this corridor during phase 1 (2008-2012). These will be developed as self-sustaining industrial townships with world-class infrastructure, road and railway connectivity for freight movement to and from ports and logistic hubs.
Ten cities having a population of more than 10 lakh fall within the project influence area (PIA) of DMIC: Delhi, Mumbai, Faridabad, Meerut, Jaipur, Ahmedabad, Surat, Vadodara, Pune, and Nasik. It is expected that these cities will see a lot of development of industrial infrastructure, setting up and enhancement of existing industrial estates, setting up of ITITES and biotech hubs, development of integrated logistic hubs, sea ports, and integrated townships. Some cities, like and Ahmedabad, Jaipur, Nasik and Vadodara lie both within the influence area of DMIC, and are also major nodes on the Golden Quadrilateral project.
These cities are expected to witness large-scale real estate development because of improved accessibility and the availability of large land parcels.
Six investment regions and six industrial areas will be developed along this corridor during phase 1 (2008-2012). These will be developed as self-sustaining industrial townships with world-class infrastructure, road and railway connectivity for freight movement to and from ports and logistic hubs.
Ten cities having a population of more than 10 lakh fall within the project influence area (PIA) of DMIC: Delhi, Mumbai, Faridabad, Meerut, Jaipur, Ahmedabad, Surat, Vadodara, Pune, and Nasik. It is expected that these cities will see a lot of development of industrial infrastructure, setting up and enhancement of existing industrial estates, setting up of ITITES and biotech hubs, development of integrated logistic hubs, sea ports, and integrated townships. Some cities, like and Ahmedabad, Jaipur, Nasik and Vadodara lie both within the influence area of DMIC, and are also major nodes on the Golden Quadrilateral project.
These cities are expected to witness large-scale real estate development because of improved accessibility and the availability of large land parcels.
Tuesday, February 26, 2008
DELHI-MUMBAI INDUSTRIAL CORRIDOR
This is a 1,483 km long dedicated freight corridor that will pass through states like Uttar Pradesh, NCR, Haryana, Rajasthan, Gujarat, and Maharashtra. A band of 150 km on each side of the freight corridor will be developed as an industrial corridor.
Six investment regions and six industrial areas will be developed along this corridor during phase 1 (2008-2012). These will be developed as self-sustaining industrial townships with world-class infrastructure, road and railway connectivity for freight movement to and from ports and logistic hubs.
Ten cities having a population of more than 10 lakh fall within the project influence area (PIA) of DMIC: Delhi, Mumbai, Faridabad, Meerut, Jaipur, Ahmedabad, Surat, Vadodara, Pune, and Nasik. It is expected that these cities will see a lot of development of industrial infrastructure, setting up and enhancement of existing industrial estates, setting up of ITITES and biotech hubs, development of integrated logistic hubs, sea ports, and integrated townships. Some cities, like and Ahmedabad, Jaipur, Nasik and Vadodara lie both within the influence area of DMIC, and are also major nodes on the Golden Quadrilateral project.
These cities are expected to witness large-scale real estate development because of improved accessibility and the availability of large land parcels.
Six investment regions and six industrial areas will be developed along this corridor during phase 1 (2008-2012). These will be developed as self-sustaining industrial townships with world-class infrastructure, road and railway connectivity for freight movement to and from ports and logistic hubs.
Ten cities having a population of more than 10 lakh fall within the project influence area (PIA) of DMIC: Delhi, Mumbai, Faridabad, Meerut, Jaipur, Ahmedabad, Surat, Vadodara, Pune, and Nasik. It is expected that these cities will see a lot of development of industrial infrastructure, setting up and enhancement of existing industrial estates, setting up of ITITES and biotech hubs, development of integrated logistic hubs, sea ports, and integrated townships. Some cities, like and Ahmedabad, Jaipur, Nasik and Vadodara lie both within the influence area of DMIC, and are also major nodes on the Golden Quadrilateral project.
These cities are expected to witness large-scale real estate development because of improved accessibility and the availability of large land parcels.
FAQs On The Reality Market by Anuj Puri Jones Lang LaSalle Meghraj
1. Many large business entities are now branching out into real estate development, while real estate companies are entering other areas. What is the reason behind all this?
Diversification is a natura1consequence of India's economic boom. This boom is happening across various sectors, not only one. The action is spread across telecom, IT/ITeS (Information technology and IT-enabled services) retail, logistics and various other sectors. Any profit-making company has to invest its profits, and it makes eminent sense not to put all eggs in one basket. Moreover, bullion is not very strong and shares are volatile. Government bonds and fixed deposits are at best stable, the commodity market is seeing ups and downs and real estate is subject to various intricate market dynamics. It is not a good idea to depend on any single market when it comes to investment.
2. There is a lot of talk about a 'bubble' in the Indian real estate sector. Many are in a watch-and-wait mode, waiting for prices to crash. How do you see it?
When a bubble develops in any market, it is because prices for that particular commodity or asset have gone through the roof - beyond all affordability the current sentiment in the Indian real estate market is one of quiet outrage over the skyrocketing prices, but demand is still strong. It pays to keep in mind that increased incomes and strong economic fundamentals help balance the scales to a significant extent. We can talk of a 'bubble' when transactions slow down significantly or even grind to a complete halt. That would certainly indicate a dire need for prices to come down.
3. Facility management seems to be the new mantra among developers. What exactly does it entail and what is its future in India?
Developers who offer facility management in their projects do so because they wish to attract quality clients and establish a professional image. Obviously, in today's ever-changing scenario, what constitutes cutting-edge facility management is a very fluid concept. Some of the most advanced projects now offer concepts such as Computer Aided Facilities Management, in which computers are used to automate the collection and maintenance of facilities management information. In India, facility management is still a small sector in terms of volume. However: it is now recognized as a significant component in any real estate project established to garner high returns on investment. We see immense scope for expansion of this sector in context with special economic zones (SEZs), integrated townships, hospitals etc.
4. Is it true that Indians investing in property are getting younger almost every year?
Property buyers in the contemporary Indian context are certainly getting younger The average age of the Indian property buyer has dropped from 45 to 32 over the last decade. This is not surprising, considering that a majority of the young Indian entrepreneurs and IT employees are personally wealthy in their own right by age 32. This new, young breed of property buyers has its collective eye trained on stability and upward mobility in the future.
Courtesy:HT dtd 25-02-08
Diversification is a natura1consequence of India's economic boom. This boom is happening across various sectors, not only one. The action is spread across telecom, IT/ITeS (Information technology and IT-enabled services) retail, logistics and various other sectors. Any profit-making company has to invest its profits, and it makes eminent sense not to put all eggs in one basket. Moreover, bullion is not very strong and shares are volatile. Government bonds and fixed deposits are at best stable, the commodity market is seeing ups and downs and real estate is subject to various intricate market dynamics. It is not a good idea to depend on any single market when it comes to investment.
2. There is a lot of talk about a 'bubble' in the Indian real estate sector. Many are in a watch-and-wait mode, waiting for prices to crash. How do you see it?
When a bubble develops in any market, it is because prices for that particular commodity or asset have gone through the roof - beyond all affordability the current sentiment in the Indian real estate market is one of quiet outrage over the skyrocketing prices, but demand is still strong. It pays to keep in mind that increased incomes and strong economic fundamentals help balance the scales to a significant extent. We can talk of a 'bubble' when transactions slow down significantly or even grind to a complete halt. That would certainly indicate a dire need for prices to come down.
3. Facility management seems to be the new mantra among developers. What exactly does it entail and what is its future in India?
Developers who offer facility management in their projects do so because they wish to attract quality clients and establish a professional image. Obviously, in today's ever-changing scenario, what constitutes cutting-edge facility management is a very fluid concept. Some of the most advanced projects now offer concepts such as Computer Aided Facilities Management, in which computers are used to automate the collection and maintenance of facilities management information. In India, facility management is still a small sector in terms of volume. However: it is now recognized as a significant component in any real estate project established to garner high returns on investment. We see immense scope for expansion of this sector in context with special economic zones (SEZs), integrated townships, hospitals etc.
4. Is it true that Indians investing in property are getting younger almost every year?
Property buyers in the contemporary Indian context are certainly getting younger The average age of the Indian property buyer has dropped from 45 to 32 over the last decade. This is not surprising, considering that a majority of the young Indian entrepreneurs and IT employees are personally wealthy in their own right by age 32. This new, young breed of property buyers has its collective eye trained on stability and upward mobility in the future.
Courtesy:HT dtd 25-02-08
Sunday, February 24, 2008
PRE-ENGINEERED BUILDINGS: WAY TO GO?
The Conventional construction industry in the country today is undergoing a change, with one of its most visible aspects being the emergence of Pre-Engineered Buildings (PEB).
Different from the usual concrete buildings with asbestos-type roofs and walls, a pre-engineered building is made of steel panels. In fact, a PEB is nothing but a steel-framed building with pre-designed components to best suit client requirements.
First introduced in the US, the PEB technique of construction is more popular with industrial townships. The National Highway-8 that leads from Delhi to Jaipur best exemplifies this trend; you can see a number of such buildings dotting the stretch in and around Gurgaon.
Leading the list of PEB's advantages is efficiency Says Mohit Khanna, Director, Lloyd Insulations, which in 1997 became the first Indian company to introduce the concept of PEB, "The use of pre-set methods for welding and predetermined stock sizes reduce the time taken for construction and fabrication," Khanna says.
PEBs are also said to be high on quality
Neeraj Gautam, who heads PEB sales for the northern region at Lloyd Insulations, says, "Since fabrication is done in a controlled and process oriented environment and the material used (steel plates) is sourced from quality labels, PEBs are real value for money"
"Though the initial cost of a PEB turn out to be 5 tol0 per cent higher than conventional buildings, it evens out when it comes to maintenance and early revenue generation," he says.
In India, the major PEB players are Lloyd Insulations, Kirby Buildings and Tiger Steels. According to Prashant Ranjan, manager, sales, Kirby Buildings, PEBs are the future of the construction industry
"In the past few years this concept has picked up quite well. We entered the market in 1990 with a manufacturing capacity of 36 tonnes per annum, and today it has increased to 2 lakh tonnes," he says.
PEB advocates also speak up for its safety.
Construction consultant Manish Shah says, "These buildings are designed in a special a way which makes them safer than conventional buildings, especially in the face of an earthquake."
www.zameen-zaidad.com
Courtesy: HT dtd:- 18thFeb 2008
Different from the usual concrete buildings with asbestos-type roofs and walls, a pre-engineered building is made of steel panels. In fact, a PEB is nothing but a steel-framed building with pre-designed components to best suit client requirements.
First introduced in the US, the PEB technique of construction is more popular with industrial townships. The National Highway-8 that leads from Delhi to Jaipur best exemplifies this trend; you can see a number of such buildings dotting the stretch in and around Gurgaon.
Leading the list of PEB's advantages is efficiency Says Mohit Khanna, Director, Lloyd Insulations, which in 1997 became the first Indian company to introduce the concept of PEB, "The use of pre-set methods for welding and predetermined stock sizes reduce the time taken for construction and fabrication," Khanna says.
PEBs are also said to be high on quality
Neeraj Gautam, who heads PEB sales for the northern region at Lloyd Insulations, says, "Since fabrication is done in a controlled and process oriented environment and the material used (steel plates) is sourced from quality labels, PEBs are real value for money"
"Though the initial cost of a PEB turn out to be 5 tol0 per cent higher than conventional buildings, it evens out when it comes to maintenance and early revenue generation," he says.
In India, the major PEB players are Lloyd Insulations, Kirby Buildings and Tiger Steels. According to Prashant Ranjan, manager, sales, Kirby Buildings, PEBs are the future of the construction industry
"In the past few years this concept has picked up quite well. We entered the market in 1990 with a manufacturing capacity of 36 tonnes per annum, and today it has increased to 2 lakh tonnes," he says.
PEB advocates also speak up for its safety.
Construction consultant Manish Shah says, "These buildings are designed in a special a way which makes them safer than conventional buildings, especially in the face of an earthquake."
www.zameen-zaidad.com
Courtesy: HT dtd:- 18thFeb 2008
Friday, February 22, 2008
THE BRIGHTER SIDE
The negative flutter in the stock markets caused some anxiety to home buyers. After hearing various viewpoints about the real estate market crashing if the Sensex plunges futher, one should point out that real estate is an asset class, which is not directly impacted when the bears take over.
It has been seen over the past few years or more that the increase in the profitability and the Sensex has had a definite impact in the liquidity and sentiment of an average home buyer.
Actually, the stock market has helped boost housing in two ways, it has helped drive the ownership rate to its highest level in history as the sales of the apartments over the past three years have gone up, and it has enabled many people to buy more expensive homes than they might have otherwise purchased.
Since 2004 the stock market has played a key role in that and there’s been a noticeable increase in more expenive houses since the market exploded too. But if the market continues unabated, this will continue to tighten the screws on interest rates.
This is an area of concern to economists and is an important reason why interest rates may soften a bit in coming times.
In any case, a first home buyer will remain a home buyer by default even if the stock markets or property markets are impavted aither way.
Mature investors or home buyers do not put all their “aggs in one basket” to lose them all. The present market is dominated by actual users, Non-Resident Indians who are looking to buy property as first homes.
It has been seen that most buyers place only 15 to 30 % of their own funds and the rest is taken by home loans paid over 15 – 20 years. So even if the markets are impacted negatively, they have their own home to live in and a good time frame of 10 to 20 years to pay out and with the overall picture of india Inc booming, it should not make any significant difference.
Investors who tread on both sides by earning from their stocks and using to pay their profits as EMIs for their property purchase are usually the most affected, as they are hedging completely on their profits from the stock markets but this again may be a temporary phase but can have a very sharp impact during heavy bear sessions.
With the way property prices have increased over the past few years and are probably still increasing while you are reading this, it is a good sign at least that builders may not increase prices looking at the overall sentiment being weak.
No, I’m not out of my mind leading a cheer for a stock market crash. If the stock markets remain low for some time, it will be better for the real estate market if a small correction or a slowdown happens. The figures of notional losses in the real estate side will be far more less than the tangent stock market figures. Also, it should be seen very clearly that our homes which we reside in should be kept away from the analysis and impact of up and down as if the property markets go up we don’t sell nor do we sell when they go down. If you own an already built out property, be it an office or an apartment, and if the same was meant for investment, in most cases it will be leased out giving you returns or in the market hunting for a tenant. If it is under constructuon you would have bought it at a far lower price than the value it is today. In any case, for a new entrant buying a new home in the top end sengment of the grown property market, there is a risk element but then a home is a home; one buys it to live in it and not to speculate, as in the stock market. Over the past few months, builders have increased prices in line with the Sensex and if you clearly notice, there has been a parallel growth; as the stock market grew real astate price continued an upstream steady move. During march, usually the stock markets get a bit volatile as they are dependent on the third quarter results and then the expectations from the Budget. Investors who have exposure in stock and looking to exit and enter into reality should be more careful keeping in mind their immediate or future need of funds for their immediate or future need of funds for their proposed EMIs or property buying plan. You need to protect your back and I guess having a roof on your head for many of u does that.
It has been seen over the past few years or more that the increase in the profitability and the Sensex has had a definite impact in the liquidity and sentiment of an average home buyer.
Actually, the stock market has helped boost housing in two ways, it has helped drive the ownership rate to its highest level in history as the sales of the apartments over the past three years have gone up, and it has enabled many people to buy more expensive homes than they might have otherwise purchased.
Since 2004 the stock market has played a key role in that and there’s been a noticeable increase in more expenive houses since the market exploded too. But if the market continues unabated, this will continue to tighten the screws on interest rates.
This is an area of concern to economists and is an important reason why interest rates may soften a bit in coming times.
In any case, a first home buyer will remain a home buyer by default even if the stock markets or property markets are impavted aither way.
Mature investors or home buyers do not put all their “aggs in one basket” to lose them all. The present market is dominated by actual users, Non-Resident Indians who are looking to buy property as first homes.
It has been seen that most buyers place only 15 to 30 % of their own funds and the rest is taken by home loans paid over 15 – 20 years. So even if the markets are impacted negatively, they have their own home to live in and a good time frame of 10 to 20 years to pay out and with the overall picture of india Inc booming, it should not make any significant difference.
Investors who tread on both sides by earning from their stocks and using to pay their profits as EMIs for their property purchase are usually the most affected, as they are hedging completely on their profits from the stock markets but this again may be a temporary phase but can have a very sharp impact during heavy bear sessions.
With the way property prices have increased over the past few years and are probably still increasing while you are reading this, it is a good sign at least that builders may not increase prices looking at the overall sentiment being weak.
No, I’m not out of my mind leading a cheer for a stock market crash. If the stock markets remain low for some time, it will be better for the real estate market if a small correction or a slowdown happens. The figures of notional losses in the real estate side will be far more less than the tangent stock market figures. Also, it should be seen very clearly that our homes which we reside in should be kept away from the analysis and impact of up and down as if the property markets go up we don’t sell nor do we sell when they go down. If you own an already built out property, be it an office or an apartment, and if the same was meant for investment, in most cases it will be leased out giving you returns or in the market hunting for a tenant. If it is under constructuon you would have bought it at a far lower price than the value it is today. In any case, for a new entrant buying a new home in the top end sengment of the grown property market, there is a risk element but then a home is a home; one buys it to live in it and not to speculate, as in the stock market. Over the past few months, builders have increased prices in line with the Sensex and if you clearly notice, there has been a parallel growth; as the stock market grew real astate price continued an upstream steady move. During march, usually the stock markets get a bit volatile as they are dependent on the third quarter results and then the expectations from the Budget. Investors who have exposure in stock and looking to exit and enter into reality should be more careful keeping in mind their immediate or future need of funds for their immediate or future need of funds for their proposed EMIs or property buying plan. You need to protect your back and I guess having a roof on your head for many of u does that.
WHEN FAITH FUELS PROPERTY
SO YOU thought lifestyle was always about saunas and swimming pools, schools or golf courses ? Wrong.
Faith, they say, moves mountains. It certainly is now moving real estate developers, who are finding fortunes in targeting customers who are pilgrims or spiritualists.
Temple towns are witnessing a boom that nearly matches the growth in swanky metro suburbs. Haridwar, Rishikesh, Shirdi, Tirupait, Guruvayoor, Vrindavan and Mathura are among the places where many customers are seeking a second home and pureplay investors are happy to join the rush.
Apart from drawing devotees by the thousands, these places are also attracting home seeking who are looking for a peacefull life without having to compromise on the need for modern amenities.
For example, the Geetanjali Residency located next to Swami Ramdev’s Patanjali Yog Peeth premises just outside Haridwar.
Alka India Pvt. Ltd.’s Tridev city is all set to develop a chain of villas and duplexes in the same holy town. Also located on the banks of the Ganga is AEZ Group’s Aloha Rishikesh, just a mile away from the foothill town’s landmark Laxman Jhoola. Townships like Vedic Village and Divine City championed by local developers are also in the offing at Haridwar. And with the ambitious Ganga Expressway project in Uttar Pradesh getting underway, more holy towns along the sacred river are expected to find a place on the realty map.
In Vrindavan and Mathura, you will come across Suncity’s township at Mathura called Brij Darpan that aims to recreate the life of Lord Krishna over a huge 5,000 acre patch. Other developments in the area include Radhika Kunj by Ravindra Home Developers as well as townships by Magsons and Prabhatam Buildwell.
Magarpatta city outside Pune, promises a life that “revolves around the Rutu Chakra—the eternal time wheel of nature.”
Senior citizens seeking solace and salvation in their older years are a key constituency for spiritual real estate. The Tirupati Urban Development Authority is planning a township spread over 145 acres at Surappakasam village near the holy town, with an eye on “NRIs and millionaires wishing to spend their twilight years at the abode of Lord Venkateswara.
Due to such developments, property prices in these places have gone through the roof in the past few years, having doubled or more at most of these places. For instance, rates in Guruvayoor in Kerala have increased from Rs 700 per sq .ft. in 1990 to Rs 2,500 per sq. ft. in 2007.
Says Sanjeev Aeren, managing director of the AWZ Group, which has a project in Rishikesh, “Religious passion has emerged as a new factor pushing the growth of the real estate sector. The spiritual angle has always been a big draw for tourists coming to India. For us, it is also a marketing initiative that helps differentiate as well as attract like-minded people. As a developer, we get a confirmed customer and he gets some thing that he is looking for.”
Ashok Bansal , Director, Suncity Projects, says that such townships are ideal for those looking to lead a peacefull life, considering the rising stress levels today. So much so that private townships in places other than the holy towns are also incorporating features related to faith. Take the example ofpranayam, a 20-acre township coming up in Faridabad, which includes a meditation centre to be managed by Sri Sri Ravi Shankar’s Art of Living Foundation.
“Apart from the name, the meditation centre will act as a big draw in marketing the township. There are a substantial number of buyers who do not mind paying for facilities like this. And with our daily life becoming more of a grind, customers are always on the lookout for something that is linked to spirituality,” says Arjun Puri, Director, Puri Construction, the developer of Pranayam.
Courtesy:HT Dated 18 feb 2008
Faith, they say, moves mountains. It certainly is now moving real estate developers, who are finding fortunes in targeting customers who are pilgrims or spiritualists.
Temple towns are witnessing a boom that nearly matches the growth in swanky metro suburbs. Haridwar, Rishikesh, Shirdi, Tirupait, Guruvayoor, Vrindavan and Mathura are among the places where many customers are seeking a second home and pureplay investors are happy to join the rush.
Apart from drawing devotees by the thousands, these places are also attracting home seeking who are looking for a peacefull life without having to compromise on the need for modern amenities.
For example, the Geetanjali Residency located next to Swami Ramdev’s Patanjali Yog Peeth premises just outside Haridwar.
Alka India Pvt. Ltd.’s Tridev city is all set to develop a chain of villas and duplexes in the same holy town. Also located on the banks of the Ganga is AEZ Group’s Aloha Rishikesh, just a mile away from the foothill town’s landmark Laxman Jhoola. Townships like Vedic Village and Divine City championed by local developers are also in the offing at Haridwar. And with the ambitious Ganga Expressway project in Uttar Pradesh getting underway, more holy towns along the sacred river are expected to find a place on the realty map.
In Vrindavan and Mathura, you will come across Suncity’s township at Mathura called Brij Darpan that aims to recreate the life of Lord Krishna over a huge 5,000 acre patch. Other developments in the area include Radhika Kunj by Ravindra Home Developers as well as townships by Magsons and Prabhatam Buildwell.
Magarpatta city outside Pune, promises a life that “revolves around the Rutu Chakra—the eternal time wheel of nature.”
Senior citizens seeking solace and salvation in their older years are a key constituency for spiritual real estate. The Tirupati Urban Development Authority is planning a township spread over 145 acres at Surappakasam village near the holy town, with an eye on “NRIs and millionaires wishing to spend their twilight years at the abode of Lord Venkateswara.
Due to such developments, property prices in these places have gone through the roof in the past few years, having doubled or more at most of these places. For instance, rates in Guruvayoor in Kerala have increased from Rs 700 per sq .ft. in 1990 to Rs 2,500 per sq. ft. in 2007.
Says Sanjeev Aeren, managing director of the AWZ Group, which has a project in Rishikesh, “Religious passion has emerged as a new factor pushing the growth of the real estate sector. The spiritual angle has always been a big draw for tourists coming to India. For us, it is also a marketing initiative that helps differentiate as well as attract like-minded people. As a developer, we get a confirmed customer and he gets some thing that he is looking for.”
Ashok Bansal , Director, Suncity Projects, says that such townships are ideal for those looking to lead a peacefull life, considering the rising stress levels today. So much so that private townships in places other than the holy towns are also incorporating features related to faith. Take the example ofpranayam, a 20-acre township coming up in Faridabad, which includes a meditation centre to be managed by Sri Sri Ravi Shankar’s Art of Living Foundation.
“Apart from the name, the meditation centre will act as a big draw in marketing the township. There are a substantial number of buyers who do not mind paying for facilities like this. And with our daily life becoming more of a grind, customers are always on the lookout for something that is linked to spirituality,” says Arjun Puri, Director, Puri Construction, the developer of Pranayam.
Courtesy:HT Dated 18 feb 2008
Thursday, February 21, 2008
WHEN FAITH FUELS PROPERTY
SO YOU thought lifestyle was always about saunas and swimming pools, schools or golf courses ? Wrong.
Faith, they say, moves mountains. It certainly is now moving real estate developers, who are finding fortunes in targeting customers who are pilgrims or spiritualists.
Temple towns are witnessing a boom that nearly matches the growth in swanky metro suburbs. Haridwar, Rishikesh, Shirdi, Tirupait, Guruvayoor, Vrindavan and Mathura are among the places where many customers are seeking a second home and pureplay investors are happy to join the rush.
Apart from drawing devotees by the thousands, these places are also attracting home seeking who are looking for a peacefull life without having to compromise on the need for modern amenities.
For example, the Geetanjali Residency located next to Swami Ramdev’s Patanjali Yog Peeth premises just outside Haridwar.
Alka India Pvt. Ltd.’s Tridev city is all set to develop a chain of villas and duplexes in the same holy town. Also located on the banks of the Ganga is AEZ Group’s Aloha Rishikesh, just a mile away from the foothill town’s landmark Laxman Jhoola. Townships like Vedic Village and Divine City championed by local developers are also in the offing at Haridwar. And with the ambitious Ganga Expressway project in Uttar Pradesh getting underway, more holy towns along the sacred river are expected to find a place on the realty map.
In Vrindavan and Mathura, you will come across Suncity’s township at Mathura called Brij Darpan that aims to recreate the life of Lord Krishna over a huge 5,000 acre patch. Other developments in the area include Radhika Kunj by Ravindra Home Developers as well as townships by Magsons and Prabhatam Buildwell.
Magarpatta city outside Pune, promises a life that “revolves around the Rutu Chakra—the eternal time wheel of nature.”
Senior citizens seeking solace and salvation in their older years are a key constituency for spiritual real estate. The Tirupati Urban Development Authority is planning a township spread over 145 acres at Surappakasam village near the holy town, with an eye on “NRIs and millionaires wishing to spend their twilight years at the abode of Lord Venkateswara.
Due to such developments, property prices in these places have gone through the roof in the past few years, having doubled or more at most of these places. For instance, rates in Guruvayoor in Kerala have increased from Rs 700 per sq .ft. in 1990 to Rs 2,500 per sq. ft. in 2007.
Says Sanjeev Aeren, managing director of the AWZ Group, which has a project in Rishikesh, “Religious passion has emerged as a new factor pushing the growth of the real estate sector. The spiritual angle has always been a big draw for tourists coming to India. For us, it is also a marketing initiative that helps differentiate as well as attract like-minded people. As a developer, we get a confirmed customer and he gets some thing that he is looking for.”
Ashok Bansal , Director, Suncity Projects, says that such townships are ideal for those looking to lead a peacefull life, considering the rising stress levels today. So much so that private townships in places other than the holy towns are also incorporating features related to faith. Take the example ofpranayam, a 20-acre township coming up in Faridabad, which includes a meditation centre to be managed by Sri Sri Ravi Shankar’s Art of Living Foundation.
“Apart from the name, the meditation centre will act as a big draw in marketing the township. There are a substantial number of buyers who do not mind paying for facilities like this. And with our daily life becoming more of a grind, customers are always on the lookout for something that is linked to spirituality,” says Arjun Puri, Director, Puri Construction, the developer of Pranayam.
Courtesy:HT Dated 18 feb 2008
Wednesday, February 20, 2008
Commercial Rentals Go Up.
Office Space rentals have gone up substantially in the central and suburban business districts of Delhi (CBD and SBD), including places like Connaught circus and Nehru Place, in recent times.
Although the residential segment in NCR (National Capital Region) has taken a breather or even seen marginal corrections, the office space markets continue to show upward movement. With demand outstripping supply, both rentals and capital value rose during the first quarter of 2007.
There have been some fall in rentals in the satellite towns and these are mainly attributed to over supply of office space and the impending development of a new SBD at Jasola in Delhi itself.
With regarded to the absorption of commercial office space, a DTZ India report states that about 1.9 million sq.ft of such area came to be occupied in Delhi/ NCR from January to March this year, with the IT-ITES Sector alone accounting for 65%- 70% of the utilization.
The rentals have continued to increase due to steady demand generated by expansion plans of companies in NCR and shortage of space. These have increased by 7% -8% q-o-q (quarter on quarter) and by 50% - 80% y-o-y(year-on-year)in CBD. The quoted rentals in SBD have witnessed
a considerable rises of about 15% - 20% q-o-q and 50%-70% y-o-y.
However in the exceptional case the quoted rentals also touched INR 325 per sq.ft. for a building in SDB region (Nehru Place). The rentals in Gurgaon prevailing at about INR 100 per sq.ft pm has increased by 20% q-o-q and about 100% y-o-y in select Grade A buildings due to short fall in immediate supply. The rental values in Noida have remained stable q-o-q at INR 40-50per sq.ft pm but have increased by 30%-40% y-o-y.
Limited supply in CDB and high absorption in Gurgaon has resulted in low vacancy levels of 3% in these areas. Vacancy rates in SBD have also decreased to 6% due to continued demand for office
Space. However, Noida experienced high vacancy rates of about 16% due to large office supply that has entered the market during the last year.
Limited new supply has been added in NCR region. DLF building 8 C (795,000 sq.ft) in Gurgaon was the only addition to stock in the last quarter. Approximately 16 million sq.ft supply (including vacant stock) is expected to come in to NCR in 2007. DLF tower in Jascola (700,000sq.ft ), Unitech Info Space-bulding-3 (500,000sq.ft) and DLF Building 9 A(745,000 sq.ft) in Gurgaon and Corenthum (500,000sq.ft) in Noida are expected to be available by Q3/ Q4 2007.
Additional, Jasola (in south Delhi) is likely to see the development of slightly over two million sq.ft of office space, almost 75% of which is already booked. The prominent firms contributing to the office space include DLF (7 lakh sq.ft of property), TDI (1.5 lakh sq.ft) and Omaxe (1.5 lakh sq.ft).
Of the total supply estimated in NCR for 2007, 5.6million sq.ft is expected to come up in Noida,Adds DTZ India. This is far in excess of the projected absorption of 3.3 million sq.ft and may see rentals decline or, at best, remain stable. But with continued demand and limited fresh supply, office space rentals in CBD and SBD are expected to continue their upward movement.
Although the residential segment in NCR (National Capital Region) has taken a breather or even seen marginal corrections, the office space markets continue to show upward movement. With demand outstripping supply, both rentals and capital value rose during the first quarter of 2007.
There have been some fall in rentals in the satellite towns and these are mainly attributed to over supply of office space and the impending development of a new SBD at Jasola in Delhi itself.
With regarded to the absorption of commercial office space, a DTZ India report states that about 1.9 million sq.ft of such area came to be occupied in Delhi/ NCR from January to March this year, with the IT-ITES Sector alone accounting for 65%- 70% of the utilization.
The rentals have continued to increase due to steady demand generated by expansion plans of companies in NCR and shortage of space. These have increased by 7% -8% q-o-q (quarter on quarter) and by 50% - 80% y-o-y(year-on-year)in CBD. The quoted rentals in SBD have witnessed
a considerable rises of about 15% - 20% q-o-q and 50%-70% y-o-y.
However in the exceptional case the quoted rentals also touched INR 325 per sq.ft. for a building in SDB region (Nehru Place). The rentals in Gurgaon prevailing at about INR 100 per sq.ft pm has increased by 20% q-o-q and about 100% y-o-y in select Grade A buildings due to short fall in immediate supply. The rental values in Noida have remained stable q-o-q at INR 40-50per sq.ft pm but have increased by 30%-40% y-o-y.
Limited supply in CDB and high absorption in Gurgaon has resulted in low vacancy levels of 3% in these areas. Vacancy rates in SBD have also decreased to 6% due to continued demand for office
Space. However, Noida experienced high vacancy rates of about 16% due to large office supply that has entered the market during the last year.
Limited new supply has been added in NCR region. DLF building 8 C (795,000 sq.ft) in Gurgaon was the only addition to stock in the last quarter. Approximately 16 million sq.ft supply (including vacant stock) is expected to come in to NCR in 2007. DLF tower in Jascola (700,000sq.ft ), Unitech Info Space-bulding-3 (500,000sq.ft) and DLF Building 9 A(745,000 sq.ft) in Gurgaon and Corenthum (500,000sq.ft) in Noida are expected to be available by Q3/ Q4 2007.
Additional, Jasola (in south Delhi) is likely to see the development of slightly over two million sq.ft of office space, almost 75% of which is already booked. The prominent firms contributing to the office space include DLF (7 lakh sq.ft of property), TDI (1.5 lakh sq.ft) and Omaxe (1.5 lakh sq.ft).
Of the total supply estimated in NCR for 2007, 5.6million sq.ft is expected to come up in Noida,Adds DTZ India. This is far in excess of the projected absorption of 3.3 million sq.ft and may see rentals decline or, at best, remain stable. But with continued demand and limited fresh supply, office space rentals in CBD and SBD are expected to continue their upward movement.
READY FOR A HOME LOAN? CHECK THIS FIRST
Have the recent cuts in home loan rates by leading financial institutions in the country spurred you on to apply for a home loan? Go ahead, but before you finalise a deal, here are some points you should take into consideration:
1. Speak to your bank about home finance only after you have identified the property you want to buy. Note that some banks do not readily finance a self-constructed property. “Also, if the property is very old or is being developed by a relatively unknown builder, the bank might have an issue with providing a home loan,” says Harsh Vardhan Roongta, Chief Executive Officer, Apnaloan.com.
2. For loan eligibility, talk to several banks to find out which one can give you the maximum amount. Try to seek a bank that allows you to club the incomes of your other close relatives (parents, siblings, children etc.) to increase your loan eligibility.
3. Once you finalise your dream home, the bank will get the cost of the property evaluated by its own experts. Usually, the evaluation throws up a price different (in most cases, lower) from the actual price you are paying for the property. “In such cases, you will need to shell out the difference between the actual price and the bank's valuation as additional down payment. It makes sense to ask the bank to value the property (on payment of a small fee), especially if it is an old re-sale property,” says Roongta.
4. Shortlist four to five banks and get them to compete for your loan. The cost of your loan also depends a lot on your ability to negotiate.
5. Apart from interest rates, also check various charges like processing fees, pre-payment charges, legal fees, valuation fees and other hidden costs. Take all these factors into account before choosing your bank.
6. The processing fee varies from bank to bank, but is usually around 0.50 to 1.00 per cent of the total housing loan amount. It is non-refundable. Don’t believe the agents who tell you otherwise.
7. When opting for a 'fixed interest loan,’ remember that in some cases, it may remain fixed only for a certain period of time, as the bank may have the right to arbitrarily change even the so-called ‘fixed rate’. So, probe further and read the fine print before you sign on the dotted line.
8. If you have signed a floating rate loan, check whether the rates of your chosen lender had moved down in the years when interest rates were dropping. “This is a fair indicator of what you can expect as (not if) and when the interest rates start moving down and the time comes for the bank to pass on the benefit to you,” advises Roongta.
9. It is advisable to take a life insurance and critical illness policy along with a home loan. Life insurance policies provide monetary benefit in case of an unfortunate incident like death and ensure that your family members inherit your home — not your home loan.
http://www.zameen-zaidad.com
Courtesy:HT dtd.18-02-2008
1. Speak to your bank about home finance only after you have identified the property you want to buy. Note that some banks do not readily finance a self-constructed property. “Also, if the property is very old or is being developed by a relatively unknown builder, the bank might have an issue with providing a home loan,” says Harsh Vardhan Roongta, Chief Executive Officer, Apnaloan.com.
2. For loan eligibility, talk to several banks to find out which one can give you the maximum amount. Try to seek a bank that allows you to club the incomes of your other close relatives (parents, siblings, children etc.) to increase your loan eligibility.
3. Once you finalise your dream home, the bank will get the cost of the property evaluated by its own experts. Usually, the evaluation throws up a price different (in most cases, lower) from the actual price you are paying for the property. “In such cases, you will need to shell out the difference between the actual price and the bank's valuation as additional down payment. It makes sense to ask the bank to value the property (on payment of a small fee), especially if it is an old re-sale property,” says Roongta.
4. Shortlist four to five banks and get them to compete for your loan. The cost of your loan also depends a lot on your ability to negotiate.
5. Apart from interest rates, also check various charges like processing fees, pre-payment charges, legal fees, valuation fees and other hidden costs. Take all these factors into account before choosing your bank.
6. The processing fee varies from bank to bank, but is usually around 0.50 to 1.00 per cent of the total housing loan amount. It is non-refundable. Don’t believe the agents who tell you otherwise.
7. When opting for a 'fixed interest loan,’ remember that in some cases, it may remain fixed only for a certain period of time, as the bank may have the right to arbitrarily change even the so-called ‘fixed rate’. So, probe further and read the fine print before you sign on the dotted line.
8. If you have signed a floating rate loan, check whether the rates of your chosen lender had moved down in the years when interest rates were dropping. “This is a fair indicator of what you can expect as (not if) and when the interest rates start moving down and the time comes for the bank to pass on the benefit to you,” advises Roongta.
9. It is advisable to take a life insurance and critical illness policy along with a home loan. Life insurance policies provide monetary benefit in case of an unfortunate incident like death and ensure that your family members inherit your home — not your home loan.
http://www.zameen-zaidad.com
Courtesy:HT dtd.18-02-2008
Monday, February 18, 2008
India is best perfomer in office space market
New Delhi: India is still the best performer in the office space market in the world, with average rentals gorwing around 36% as against an average rise of 25% in the Asiapacific region. In the US, rentals rose 18% and Europe saw a 14% increase.
Executive managing director of cushman and Wakefild, South Asia, Sanjay Verma, says that most micro-markets in Mumbai saw an upward trend in rental values due to law vacancy and lack of new supply as projects were delayed. But high rental values across the country are not sustainable beyond the next 12 mounths, given the significant IT- specific realestate supply planned in 2008, he added.
The review said that the rental growth across the world has been driven largely by a lack of supply in the face of strong demand. Vacancy rates have fallen considerably in many markets over the year, but developers have remained relatively cautious.
In the global market, Asia emerged as one of the highest growth markets. And in Asia, India is the main driver. According to the report, within Asia_Pacific region, India captured three of the top 10 most expensive locations with Mumbai-Nariman Point and central Mumbai-Worli on third and fourth position respectively and New Delhi’s connaught place at sixth position in Asia-Pacific.
Executive managing director of cushman and Wakefild, South Asia, Sanjay Verma, says that most micro-markets in Mumbai saw an upward trend in rental values due to law vacancy and lack of new supply as projects were delayed. But high rental values across the country are not sustainable beyond the next 12 mounths, given the significant IT- specific realestate supply planned in 2008, he added.
The review said that the rental growth across the world has been driven largely by a lack of supply in the face of strong demand. Vacancy rates have fallen considerably in many markets over the year, but developers have remained relatively cautious.
In the global market, Asia emerged as one of the highest growth markets. And in Asia, India is the main driver. According to the report, within Asia_Pacific region, India captured three of the top 10 most expensive locations with Mumbai-Nariman Point and central Mumbai-Worli on third and fourth position respectively and New Delhi’s connaught place at sixth position in Asia-Pacific.
Sunday, February 17, 2008
OFFICE SPACE IN KOLKATA
At 2.25 million sq ft, supply of commercial office space in Kolkata increased about 65 per cent over the previous year. Most of the supply was concentrated in peripheral locations such as Salt Lake and Rajarhat. However, some planned developments for the non IT-ITeS sector are expected to enter the market, early next year, in new locations such as Park Circus Connector and Rash Behari Connector.
The city witnessed total absorption of approximately 2.1 million sq ft. The majority was accounted for by the IT_ITeS sector in peripheral locations like Salt Lake and Rajarhat. Owing to low vacancy in the CBD areas of Park Street, Camac Street, Chowringhee, AJC Bose Road and theatre road, there have not been significant leases in these regions. The total demand for the year is estimated at 3.6 million sq ft of which approximately .5 million sq ft of commercial office space was pre-leased in the peripheral location of Rajarhat this year.
Overall, the office market in the country is likely to continue to grow in 2008. rentals could stabilise in select markets as more supply gets delivered, resulting in demand_-supply equilibrium in the second half of the year.
Courtesty:ET dtd.01 Feb,2008
The city witnessed total absorption of approximately 2.1 million sq ft. The majority was accounted for by the IT_ITeS sector in peripheral locations like Salt Lake and Rajarhat. Owing to low vacancy in the CBD areas of Park Street, Camac Street, Chowringhee, AJC Bose Road and theatre road, there have not been significant leases in these regions. The total demand for the year is estimated at 3.6 million sq ft of which approximately .5 million sq ft of commercial office space was pre-leased in the peripheral location of Rajarhat this year.
Overall, the office market in the country is likely to continue to grow in 2008. rentals could stabilise in select markets as more supply gets delivered, resulting in demand_-supply equilibrium in the second half of the year.
Courtesty:ET dtd.01 Feb,2008
OFFICE SPACE IN HYDERABAD
Hyderradab witnessed new commercial office space supply of approximately 4 million sq ft across all micro-markets, with the preferred peripheral loctions of Madhapur, HITEC city and Gachibowli accounting for nearly 3 million sq ft. Peripheral markets, being strategically located, and having good connectivity with residential and retail catchments such as Kukkatpally, Srinagar Colony, Mehdipatnam, Punjagutta and Banjara Hills continued to be the preferred choice for commercial office space. Of the total absorption estimated at 3.34 million sq ft, the peripheral locations accounted for the largest share of 69 per cent primarily driven by IT-ITeS companies. Quarter 2 of 2007 was the most active as 1.98 million sq ft of space was committed. Then city is likely to witness fresh supply quantum of 5 million sq ft in 2008.
Thursday, February 14, 2008
RIDING HIGH
Gaursons has been on a journey. A jorney of architectural excellence to Provide residential solutions to thousands of families.
Building better infrastructure since its inception in 1995, the company owes its success to its total devotion towards projects and relentless pursuit to provide its customers the very best living experience.
Under the guidance of group chairman, B L Gaur, the group has executed some wonderful residential projects in the NCR region at a very fast pace. The commitment to complete all projects in time and hand them over to buyers is a result of his strict discipline. And because of this timely completion of projects, the faith and trust of buyers in the Gaursons Group is tremendous. This can be gauged from the fact that all the group’s projects sold in record time, with Gaur Ganga at Vaishali setting a record of sorts where all 300 apartments were sold in 48 hours flat!
Says Rahul Gaur, Managing Director, Gaursons India limited, “striving for a customer’s trust, credibility and satisfaction has been the core philosophy of our group. Be it Gaur Green Avenue, Gaur Heights, Gaur Ganga, Gaur Homes Elegante, Gaur Grandeur or the recently launched Gaur Gracious at Moradabad, we leave no stone unturned in giving the best to our buyers.”
These endeavors have not only resulted in phenomenal trust but have also led Gaursons to new heights of growth. Boasting of over a dozen successful projects, the company is on its way to becoming one of the best real estate developers in the NCR region and leaders in providing highly personalized and innovative lifestyle-oriented residential buildings at prime location. According to Manoj Gaur, Joint Managing Director. “There is a very thin line that distinguishes the extraordinary from the ordinary. That line is determined by honesty, integrity and commitment. We value our patrons the most and strive hard to maintain the high standards of business that we have set for ourselves and in retrospect, become extraordinary.”
So, when the Indian economy is on a roll, Gaursons is also riding high. And has grand plans for the coming year too.
Courtesy:- HT dtd:- 12th January 2008
Building better infrastructure since its inception in 1995, the company owes its success to its total devotion towards projects and relentless pursuit to provide its customers the very best living experience.
Under the guidance of group chairman, B L Gaur, the group has executed some wonderful residential projects in the NCR region at a very fast pace. The commitment to complete all projects in time and hand them over to buyers is a result of his strict discipline. And because of this timely completion of projects, the faith and trust of buyers in the Gaursons Group is tremendous. This can be gauged from the fact that all the group’s projects sold in record time, with Gaur Ganga at Vaishali setting a record of sorts where all 300 apartments were sold in 48 hours flat!
Says Rahul Gaur, Managing Director, Gaursons India limited, “striving for a customer’s trust, credibility and satisfaction has been the core philosophy of our group. Be it Gaur Green Avenue, Gaur Heights, Gaur Ganga, Gaur Homes Elegante, Gaur Grandeur or the recently launched Gaur Gracious at Moradabad, we leave no stone unturned in giving the best to our buyers.”
These endeavors have not only resulted in phenomenal trust but have also led Gaursons to new heights of growth. Boasting of over a dozen successful projects, the company is on its way to becoming one of the best real estate developers in the NCR region and leaders in providing highly personalized and innovative lifestyle-oriented residential buildings at prime location. According to Manoj Gaur, Joint Managing Director. “There is a very thin line that distinguishes the extraordinary from the ordinary. That line is determined by honesty, integrity and commitment. We value our patrons the most and strive hard to maintain the high standards of business that we have set for ourselves and in retrospect, become extraordinary.”
So, when the Indian economy is on a roll, Gaursons is also riding high. And has grand plans for the coming year too.
Courtesy:- HT dtd:- 12th January 2008
Wednesday, February 13, 2008
Check Carefully The Area Of A House
Before buying a house all enquire about the area. First of all the matter comes of its area and from calculation of area itself, it becomes a major game. It is essential that before buying a house, understand all terms related to area. Loss related to confusion of area is directly borne by the buyer. In most of the cases, he pays more prices for lesser space. For example, several builders charge same amount for carpet area as well as super area, whereas there is difference of 15 to 20% between the two. Charging equal amount, the price of carpet area becomes somewhat higher. Suppose, you want to buy a house, for it there are two options from the builder, firstly, he will give a 1000 Sq. ft house at a cost of Rs 15 lakh and secondly he will give 1100 sq.ft. House at same cost. Evidently, you would like to buy a bigger house, but the game starts from here. As per the extant trend of market, price of a house is decided after combining the carpet area and super area. While buying a flat, instead of doing simple mathematical calculations, one must concentrate on calculation of area. In this case the super area of the flat is 1100 sq. ft. it means that the money you paid is for use of 875 sq .ft. and not for 1100 sq. ft.While finalizing the deal you must enquire about the exact area. If the builder area is talking about area, then ask him how much is he giving usable area and which are the areas included in the price of house. Let us have a look at these areas.
Capet Area
Carpet area means that how much usable space you will get in your house. It can be called total area from a wall to wall. Take it this way that if you are to spread a carpet from one will to another, then the required size of the carpet shall be the carpet area of the flat. It means, after closing the door, all inner area is called the carpet area of a house.
Built-up Area
When space under the walls is included in the carpet area then it is called built-up area of a house. Built-up area an be called the total area of a house.
Super Built-up Area Builders usually talk about super built-up area of a house of a house. If the area of a house. If the areas of common spaces are added to the carpet and built-up area, then it is called super built-up area, for example- when common room, stairs, elevator and outer gallery of a flat in a building are added / included in the built-up area, then it will be super built-up area of a flat. There may not be any confusion with regard to area while buying a house. It is essential for it that concept of super built-up area must be quite clear between the builder and the buyer. Some stand must be laid down for it. If the builders will follow such standard and also apprise customers about same, then the concept of super built-up area can be adopted easily. In addition to bureau of Indian standards several other government agenencies are also working in this regard. for it based on carpet area or national reference area, matter is under way to formulate a rule to decide the price of a property.
Capet Area
Carpet area means that how much usable space you will get in your house. It can be called total area from a wall to wall. Take it this way that if you are to spread a carpet from one will to another, then the required size of the carpet shall be the carpet area of the flat. It means, after closing the door, all inner area is called the carpet area of a house.
Built-up Area
When space under the walls is included in the carpet area then it is called built-up area of a house. Built-up area an be called the total area of a house.
Super Built-up Area Builders usually talk about super built-up area of a house of a house. If the area of a house. If the areas of common spaces are added to the carpet and built-up area, then it is called super built-up area, for example- when common room, stairs, elevator and outer gallery of a flat in a building are added / included in the built-up area, then it will be super built-up area of a flat. There may not be any confusion with regard to area while buying a house. It is essential for it that concept of super built-up area must be quite clear between the builder and the buyer. Some stand must be laid down for it. If the builders will follow such standard and also apprise customers about same, then the concept of super built-up area can be adopted easily. In addition to bureau of Indian standards several other government agenencies are also working in this regard. for it based on carpet area or national reference area, matter is under way to formulate a rule to decide the price of a property.
Check Carefully The Area Of A House
Before buying a house all enquire about the area. First of all the matter comes of its area and from calculation of area itself, it becomes a major game. It is essential that before buying a house, understand all terms related to area. Loss related to confusion of area is directly borne by the buyer. In most of the cases, he pays more prices for lesser space. For example, several builders charge same amount for carpet area as well as super area, whereas there is difference of 15 to 20% between the two. Charging equal amount, the price of carpet area becomes somewhat higher. Suppose, you want to buy a house, for it there are two options from the builder, firstly, he will give a 1000 Sq. ft house at a cost of Rs 15 lakh and secondly he will give 1100 sq.ft. House at same cost. Evidently, you would like to buy a bigger house, but the game starts from here. As per the extant trend of market, price of a house is decided after combining the carpet area and super area. While buying a flat, instead of doing simple mathematical calculations, one must concentrate on calculation of area. In this case the super area of the flat is 1100 sq. ft. it means that the money you paid is for use of 875 sq .ft. and not for 1100 sq. ft.While finalizing the deal you must enquire about the exact area. If the builder area is talking about area, then ask him how much is he giving usable area and which are the areas included in the price of house. Let us have a look at these areas.
Capet Area
Carpet area means that how much usable space you will get in your house. It can be called total area from a wall to wall. Take it this way that if you are to spread a carpet from one will to another, then the required size of the carpet shall be the carpet area of the flat. It means, after closing the door, all inner area is called the carpet area of a house.
Built-up Area
When space under the walls is included in the carpet area then it is called built-up area of a house. Built-up area an be called the total area of a house.
Super Built-up Area Builders usually talk about super built-up area of a house of a house. If the area of a house. If the areas of common spaces are added to the carpet and built-up area, then it is called super built-up area, for example- when common room, stairs, elevator and outer gallery of a flat in a building are added / included in the built-up area, then it will be super built-up area of a flat. There may not be any confusion with regard to area while buying a house. It is essential for it that concept of super built-up area must be quite clear between the builder and the buyer. Some stand must be laid down for it. If the builders will follow such standard and also apprise customers about same, then the concept of super built-up area can be adopted easily. In addition to bureau of Indian standards several other government agenencies are also working in this regard. for it based on carpet area or national reference area, matter is under way to formulate a rule to decide the price of a property.
Capet Area
Carpet area means that how much usable space you will get in your house. It can be called total area from a wall to wall. Take it this way that if you are to spread a carpet from one will to another, then the required size of the carpet shall be the carpet area of the flat. It means, after closing the door, all inner area is called the carpet area of a house.
Built-up Area
When space under the walls is included in the carpet area then it is called built-up area of a house. Built-up area an be called the total area of a house.
Super Built-up Area Builders usually talk about super built-up area of a house of a house. If the area of a house. If the areas of common spaces are added to the carpet and built-up area, then it is called super built-up area, for example- when common room, stairs, elevator and outer gallery of a flat in a building are added / included in the built-up area, then it will be super built-up area of a flat. There may not be any confusion with regard to area while buying a house. It is essential for it that concept of super built-up area must be quite clear between the builder and the buyer. Some stand must be laid down for it. If the builders will follow such standard and also apprise customers about same, then the concept of super built-up area can be adopted easily. In addition to bureau of Indian standards several other government agenencies are also working in this regard. for it based on carpet area or national reference area, matter is under way to formulate a rule to decide the price of a property.
Monday, February 11, 2008
Change in property ownership or transfer of property in such a process which involves plenty of paper work. Special attention should be paid to all th
Change in property ownership or transfer of property in such a process which involves plenty of paper work. Special attention should be paid to all the paper work so as you are not cheated by malafied intention of any party. Let us explain you some documents which are required at the time of a deal.
While Buying Property From a Developer:
Every bank and some financial institutions keep with them a list of developers. This list is prepared after verifying their credibility. Here you are required to see the following documents only:-
Agreement to sell
lease agreement with bank or financial company
Receipts of all payments
While Buying a Freehold Property:
At the time of transfer of freehold residential property, you are required to possess some important documents. Only them the transfer process shall be treated as complete otherwise incomplete documents will only create a problem for you:
Copy of the sale deed under which seller got the ownership right of the property.
Copies of all sale deeds of the property executed till date to verify the names of all buyers.
Agreement to sell.
Receipts of all payments made by the purchaser
Copy of new sale deed for registration
While buying a flat from original allotee of a group housing society.
Here is a list of some such documents which are required at the time of transfer of group housing society. But be careful, these are applicable when the seller is an original allottee:
Share certificate of the society
Lease deed of the society
Property title of the builder
Society’s undertaking certificate if the property is under construction
Allocation, allotment authorization and possession letter
Payment receipts made to authority
Prior permission to mortgage property if needed in future
While Buying Property From a Developer:
Every bank and some financial institutions keep with them a list of developers. This list is prepared after verifying their credibility. Here you are required to see the following documents only:-
Agreement to sell
lease agreement with bank or financial company
Receipts of all payments
While Buying a Freehold Property:
At the time of transfer of freehold residential property, you are required to possess some important documents. Only them the transfer process shall be treated as complete otherwise incomplete documents will only create a problem for you:
Copy of the sale deed under which seller got the ownership right of the property.
Copies of all sale deeds of the property executed till date to verify the names of all buyers.
Agreement to sell.
Receipts of all payments made by the purchaser
Copy of new sale deed for registration
While buying a flat from original allotee of a group housing society.
Here is a list of some such documents which are required at the time of transfer of group housing society. But be careful, these are applicable when the seller is an original allottee:
Share certificate of the society
Lease deed of the society
Property title of the builder
Society’s undertaking certificate if the property is under construction
Allocation, allotment authorization and possession letter
Payment receipts made to authority
Prior permission to mortgage property if needed in future
Flat Allotment Policy for Poor’s Approved by Delhi Govt
Delhi government has approved the policy for allotment of low cost flat to urban poors under Jawaharlal Nehru urban renewal Mission (JNURM) .After this decision, now the way for quick implementation of low cost housing plan has become clear.According to this policy, the flat will be allotted to him only who is a resident of Delhi since 1990 and should have a valid ration card. In addition, the flat buyer should neither have a pacca house or a plot in Delhi.It is important to note that the government has approved the plan to construct 43804 such low cost flats. Under JNURM scheme, the central government will provide a subsidy of Rs1.00 lakh while Delhi government will provide a subsidy of Rs 25,000/- for these flats.
Saturday, February 9, 2008
KOLKATA COMMERCIAL SPACE
At 2.25 million sq ft, supply of commercial office space in Kolkata increased about 65 per cent over the previous year. Most of the supply was concentrated in peripheral locations such as Salt Lake and Rajarhat. However, some planned developments for the non IT-ITeS sector are expected to enter the market, early next year, in new locations such as Park Circus Connector and Rash Behari Connector.
The city witnessed total absorption of approximately 2.1 million sq ft. The majority was accounted for by the IT-ITeS sector in peripheral locations like Salt Lake and Rajarhat. Owing to low vacancy in the CBD areas of Park Street, Camac Street, Chowringhee, AJC Bose Road and Theatre Road, there have not been significant leases in these regions. The total demand for the year is estimated at 3.6 million sq ft of which approximately 1.5 million sq ft of commercial office space was pre-leased in the peripheral location of Rajarhat this year.
Overall, the office market in the country is likely to continue to grow in 2008. Rentals could stabilize in select markets as more supply gets delivered, resulting in demand-supply equilibrium in the second half of the year
The city witnessed total absorption of approximately 2.1 million sq ft. The majority was accounted for by the IT-ITeS sector in peripheral locations like Salt Lake and Rajarhat. Owing to low vacancy in the CBD areas of Park Street, Camac Street, Chowringhee, AJC Bose Road and Theatre Road, there have not been significant leases in these regions. The total demand for the year is estimated at 3.6 million sq ft of which approximately 1.5 million sq ft of commercial office space was pre-leased in the peripheral location of Rajarhat this year.
Overall, the office market in the country is likely to continue to grow in 2008. Rentals could stabilize in select markets as more supply gets delivered, resulting in demand-supply equilibrium in the second half of the year
Thursday, February 7, 2008
HYDERABAD REAL ESTATE
Hyderabad witnessed new commercial office space supply of approximately 4 million sq ft across all micro-markets, with the preferred peripheral locations of Madhapur, HITEC city and Gachibowli accounting for nearly 3 million sq ft. Peripheral markets, being strategically located, and having good connectivity with residential and retail catchments such as Kukkatpally, Srinagar Colony, Mehdipatnam, Punjagutta and Banjara Hills continued to be the preferred choice for commercial office space. Of the total absorption estimated at 3.34 million sq ft, the peripheral locations accounted for the largest share of 69 per cent primarily driven by IT-ITeS companies. Quarter 2 of 2007 was the most active as 1.98 million sq ft of space was committed then. The city is likely to witness fresh supply quantum of 5 million sq ft in 2008
Wednesday, February 6, 2008
PROPERTY IN CHENNAI
IT-ITeS continued to be the demand driver for Office space in Chennai. It was followed by telecom and BFSI (banking and financial services industry) sectors. Approximately 10 million sq ft supply entered the market in 2007. About 75 per cent of this supply came from IT Parks and 21 per cent from IT SEZs. The highest influx of approximately 9 million sq ft came from suburban and peripheral regions such as Guindy, Manapakkam and Sholinganllur.
The largest absorption of approximately 4 million sq ft took place in the suburban regions due to better infrastructure compared to peripheral regions. STPI units witnessed higher vacancy rates due to the uncertainty regarding the extension of tax benefits.
The total absorption for Chennai was estimated at 6.5 million sq ft. Demand for Grade-A space was recorded at approximately 8.7 million sq ft. Of this pre-lease commitments were about 2.3 million sq ft.
Peripheral Commercial developments on the Grand Southern Trunk (GST) Road are likely to command a higher rental rate in the short to medium term over peripheral regions like Rajiv Gandhi Salai (OMR) due to better connectivity by road and rail, proximity to airport, better infrastructure, and proximity to residential pockets.
The largest absorption of approximately 4 million sq ft took place in the suburban regions due to better infrastructure compared to peripheral regions. STPI units witnessed higher vacancy rates due to the uncertainty regarding the extension of tax benefits.
The total absorption for Chennai was estimated at 6.5 million sq ft. Demand for Grade-A space was recorded at approximately 8.7 million sq ft. Of this pre-lease commitments were about 2.3 million sq ft.
Peripheral Commercial developments on the Grand Southern Trunk (GST) Road are likely to command a higher rental rate in the short to medium term over peripheral regions like Rajiv Gandhi Salai (OMR) due to better connectivity by road and rail, proximity to airport, better infrastructure, and proximity to residential pockets.
Tuesday, February 5, 2008
MUMBAI REAL ESTATE
Mumbai witnessed a significant drop in supply of commercial office space: only 451,160 sq ft came into the market during 2007. Many projects will, however, be completed in quarter one of 2008.
Most of the supply in 2007 came in Andheri (52 per cent), Bandra Kurla Complex and Worli. Demand continued to rise and was estimated at 4.5 million sq ft. Of this 3.1 million sq ft was pre-commitment; 1.1 million sq ft was absorption in existing second-generation buildings; and 306,160 sq ft was absorption in new buildings.
Most of the pre-lease commitments were witnessed in the peripheral locations of Thane Belapur Road and Vashi mainly by IT-ITeS companies that require larger plate area and low rental.
An anticipated supply of 13.7 million sq ft in 2008 is expected to stabilize rental and capital values by the second half of 2008. http://www.zameen-zaidad.com
Most of the supply in 2007 came in Andheri (52 per cent), Bandra Kurla Complex and Worli. Demand continued to rise and was estimated at 4.5 million sq ft. Of this 3.1 million sq ft was pre-commitment; 1.1 million sq ft was absorption in existing second-generation buildings; and 306,160 sq ft was absorption in new buildings.
Most of the pre-lease commitments were witnessed in the peripheral locations of Thane Belapur Road and Vashi mainly by IT-ITeS companies that require larger plate area and low rental.
An anticipated supply of 13.7 million sq ft in 2008 is expected to stabilize rental and capital values by the second half of 2008. http://www.zameen-zaidad.com
Monday, February 4, 2008
PUNE REAL ESTATE
In Pune, of the 7.8 million sq ft of supply, Hinjewadi and Hadapsar accounted for the majority of the total share. The total demand during 2007 was approximately 6.35 million sq ft of which 5.5 million sq ft was absorption and the balance 0.85 million sq ft was accounted for by pre-lease commitments.
Most of the demand for commercial space in Pune came from IT-ITeS sector, mostly centred in Hinjewadi. Suburban and peripheral locations, especially Hinjewadi and Kharadi, are fast emerging as major office hubs in Pune.
In some Micro-markets of Pune, such as Nagar Road, Yerwada, Kalyani Nagar, Kharadi, Phursunghi and Magarpatta, vacancy rates rose this year. This is attributed to the high rentals and the existence of sub-prime properties in these markets. The growing trend of companies moving into SEZs is also responsible for this trend
Most of the demand for commercial space in Pune came from IT-ITeS sector, mostly centred in Hinjewadi. Suburban and peripheral locations, especially Hinjewadi and Kharadi, are fast emerging as major office hubs in Pune.
In some Micro-markets of Pune, such as Nagar Road, Yerwada, Kalyani Nagar, Kharadi, Phursunghi and Magarpatta, vacancy rates rose this year. This is attributed to the high rentals and the existence of sub-prime properties in these markets. The growing trend of companies moving into SEZs is also responsible for this trend
Friday, February 1, 2008
BANGALORE REAL ESTATE
Bangalore witnessed the highest absorption in 2007 of 8.7 million sq ft. The total supply here during 2007 was 9 million sq ft. The peripheral regions accounted for over 75 per cent of total supply.
Of the total demand 13.25 sq ft million, demand for 8.8 million sq ft or nearly 30 per cent came from the peripheral locations. Whitefield continued to be the micro market with the maximum demand of 2.47 million sq ft followed by Outer Ring Road (1.66 million sq ft). C.V. Raman Nagar and Old Madras Road micro markets accounted for a total demand of 1.4 million sq.ft.
IT/ITeS segment remained the key driver of demand in the peripheral and suburban locations
Of the total demand 13.25 sq ft million, demand for 8.8 million sq ft or nearly 30 per cent came from the peripheral locations. Whitefield continued to be the micro market with the maximum demand of 2.47 million sq ft followed by Outer Ring Road (1.66 million sq ft). C.V. Raman Nagar and Old Madras Road micro markets accounted for a total demand of 1.4 million sq.ft.
IT/ITeS segment remained the key driver of demand in the peripheral and suburban locations
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