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Red Fort to invest Rs 3,500cr into Indian realty sector
2008-05-08 07:45:00
Red Fort Capital, an international private equity fund, is planning to invest Rs 3,500 crore in the country?s real estate sector during the next one year. The money will be invested in real estate projects ? commercial, residential and retail ? as well as land acquisitions. It has also launched a domestic fund few weeks back through which it plans to raise Rs 1,000 crore. The proceeds would be deployed into non-foreign direct investment projects. Construction has begun for Prestige?s project in Bangalore, Indu project in Hyderabad , Chennai and NCR, Delhi . The company is looking at property investments in about 15 other cities that have high income and employment growth and cheaper land. The company will target the middle income groups, earning between Rs 6 lakh and Rs 11 lakh per annum. Red Fort will develop the low-cost houses in partnership with the Bangalore-based Prestige Group and Hyderabad-based Indu Project and will have around 40-80 per cent stake in the projects. Red Fort i...
More About: Indian , Pune

Deutsche Bank's arm to foray into India's realty market
2008-05-08 07:42:00
Deutsche Bank's alternative investment management business, RREEF Alternative Investments (RREEF), plans to invest a further $1 billion over three years in India's and infrastructure sector. As they see India as a particularly attractive emerging real estate and infrastructure market for high return-oriented offshore clients. The new venture, RREEF India Advisors, which will be run by country head Kishore Gotety, will be eyeing potential real estate deals. They?ll be working on deals involving roads, power, airport and railway terminal projects. The preferred deal size would be between $50 million and $150 million and they are already evaluating deals in western and northern India. The company has invested about $70 million in another Indian company, Golden Gate .Properties Ltd., which is involved in primarily projects in southern India. RREEF said it has formed a 60:40 joint venture with Nagarjuna Construction Company Ltd's (NCC) unit, NCC Urban Infrastructure Ltd., to develop ...
More About: Market , Deutsche Bank , Realty

It?s become trendy to talk about affordable housing
2008-05-07 08:30:00
The property market has boomed since India eased rules on inward investment in the construction industry in early 2005, partly fuelled by pledges by foreign investors that they will pump up to $20 billion into the country. But government figures show only about $2 billion has actually been spent in the last three years. Real estate prices have cooled in the last six months. Developers had piled into the top-end of the housing market where profit margins are highest. Young people don?t have housing open to them. Developers are targeting the young workforce in a country where double-digit salary hikes are common in sectors such as real estate, information technology and financial services. What?s on the market so far isn?t satisfying demand .It was a rising market so people didn?t think. Developers have been overpaying for land, making the wrong product and not doing their research. Analysts say the strong supply of high-end apartments in many areas, including Bangalore and New Delhi,...
More About: Talk , Housing , Affordable housing , Trendy

Indian ?Golf Cities? heating up
2008-05-07 08:20:00
Residential dwellings built around a golf course are the latest buzzword in the super-premium housing segment of the Indian realty industry, estimated at $15 billion and growing at 35 per cent annually. The golf cities make an attractive preposition for NRIs and HNIs who together constitute 50 per cent of buyers in the premium housing segment. These high end customers are ready to pay big bucks for a sprawling home amidst the greens with a promise of high class lifestyle. So from the top brass of the corporate world to those who aspire to arrive in life, everyone finds residences built around the golf course an ideal abode. Golf home projects are exclusive projects. Slight slumps in the market that generally slow down the middle housing segments usually do not affect these projects, as the buyer is exclusive and very selective about the property. And the trend is fast spreading from metros to emerging cities. Earlier golf was restricted to a select group, but it has grown popular ov...
More About: Cities , Heating

Southern India real estate cooling off
2008-05-06 08:49:00
After growing at a fast and furious pace over the past few years, the Real estate sector in southern India is cooling down. This has been caused mainly by a slowdown of the IT sector that impacts the region in more ways than one. Besides, rising home loan interest rates, climbing input rates and a general consumer reaction to the escalating cost of properties have begun to take a toll on realty in this part of the country. Plus there has been an oversupply of highly priced properties, creating some sort of a glut. Further, the builders? community has been affected by the tightening of the credit norms as well as the negative sentiments in the money and stock markets. This downturn, however, is lending a long-overdue rationality to the market. Only the professionally well-organised and coporatised builders will be able to move on. Reading the ominous portents, builders are also diversifying into hotels, spas, hospitals, warehouses, SEZs and other segments, to escape the dependence on...
More About: Estate , Real Estate , Bangalore , Hyderabad

Realty stocks witness a correction
2008-05-06 08:39:00
India?s real estate stocks that once paralleled the boom in property values may start to see more softening, in line with the tepid market. After the stock market crash, real estate stocks have been trading at a discount of 15-50% to their net asset values (NAVs), or the value of their assets less liabilities. And the recent drop in their values will likely stay until property developers start executing and selling more projects, say industry experts. Analysts say property stocks are overvalued and a correction in stock prices is bound to happen. Developers have taken on more projects than they can execute and valuations will not improve until we see projects actually being executed. Due to which the property stocks will be halved in value. Analysts also believe the correction in property stocks will be accompanied by a correction in real estate prices across the country. Developers in India were riding a high after an unprecedented economic boom and tax benefits for home buyers mad...
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Realty space to gain from real estate MFS
2008-05-03 08:04:00
The Indian real estate sector is set to get a breather from the market regulator SEBI's move to allow Real Estate Mutual Funds. Real Estate Mutual Fund Scheme means a scheme of a mutual fund which has investment objective to invest directly or indirectly in real estate property and shall be governed by the provisions and guidelines under SEBI (Mutual Funds) regulations. The SEBI added that the schemes will have to be close-ended with its units listed on a recognised stock exchange wherein the net asset value (NAV) will be declared daily. Real Estate Mutual Funds (REMFs) have a useful purpose and a role which until recently was missing in the real estate ecosystem. REMFs should help ease the situation and compensate to some degree the relative absence of public equity and challenging debt markets..At present, not much equity funding is available to projects below 50 thousand square metres of built up area or 25 acres and there is hardly any domestic secondary market for stabilised i...
More About: News , Space

TCG To Develop IT Park Project In Kolkata
2008-05-02 09:09:00
Kolkata?s realty market is growing. The real estate market of Kolkata is comparable to tier-II cities like Hyderabad, Chennai and Pune and is even ahead of these in terms of pricing of some of the recent deals. The IT realty market is hotting up too. Estimates suggest that about 120 lakh sq.ft. of new plug-and-play IT infrastructure will come up in Kolkata in the near future.TCG Real Estate, a part of The Chatterjee Group promoted by Purnendu Chatterjee, is planning to take up an IT park project at Sector V, near the Salt Lake area, with an investment of around Rs 250 crore. The entire project, would be spread over 11 lakh square feet and split in two phases, and is slated to be completed by 2012. TCG was also exploring the possibility of executing similar projects in places like Siliguri and Rajarhat. The project, to be launched in the latter half of the year, would be funded through internal accruals. In the first phase of the project, around 6 lakh square feet area would be de...
More About: Project , Kolkata , Park , Develop

Recent real estate development in Bandra
2008-05-02 08:06:00
Real estate in Mumbai has been on an upswing in the last three to four years, and continues to display tremendous potential. A multitude of factors including increasing urbanisation, rising disposable income, easy availability of finance and favourable tax regime have backed the development of real estate in the city. With the demand for housing in Mumbai high and shortage of land to meet the rising demand, the city?s western suburb Bandra could see availability of close to 60 acres of real estate for development. The residents of the Maharashtra government?s employee staff quarters have suggested that government redevelop the colony spread across 96 acres. The relocating of existing staff in the multi-storey buildings will require 25-30 acres of land while the government can exploit the rest for further development. The project will also fetch additional revenue to the government that is spending Rs 15-20 crore on annual maintenance. If the approval for the project is granted it wo...
More About: Estate , Real Estate , Development , Real , Recent

Madurai Real Estate Heating up
2008-05-02 07:42:00
For the past few years, mostly since the IT boom and lot of NRI's pumping money into real estate in India, prices, especially in the major cities, have skyrocketed. Madurai is the second largest city of Tamil Nadu, in South India. Madurai is famous for Meenakshi Amman Temple. Apart from this; it is well connected by air, rail and road to all major cities. Madurai is selected for starting many IT and ITES company. Domestic flights connect the city to state capital Chennai , Bangalore and Hyderabad. International connectivity from Madurai airport, located 13 km from the city centre, is also expected to begin this year. In fact, according to a Cushman & Wakefield (C&W) report, real estate development is increasingly moving to the southern and western parts of the city, mainly around the airport, Rirupparankundram Road and By-pass road. This is due to a scarcity of land in the CBD (Chinnakadai). The city has witnessed encouraging commercial development over the last three-four years. Th...
More About: Estate , Real Estate , Real , Heating

JP Infra to raise Rs 200 crore
2008-05-01 07:20:00
Ahmedabad-based realty player JP Infrastructure Pvt Ltd (JPIPL) is in advance stages of talks with a leading PE fund to raise close to Rs 200 crore. The company is also planning to come out with an initial public offer and had appointed Cushman & Wakefield in December last year for valuation of its assets. The realtor is aiming to divest about 10 per cent, sources said. The company will have six months to one year?s time to come out with an IPO while making way for the PE firm to exit. Meanwhile, it is planning a mega township project in Ahmedabad, retail malls in Vadodara and Surat, corporate park in Lower Parel in Mumbai .

Parsvnath Sells Off Thirty Percent Stake In Mumbai Project
2008-05-01 07:10:00
Real estate firm Parsvnath Developers Ltd has sold 30 percent stake in a Mumbai project to foreign funds for 1.86 billion rupees, the company. Shares in a company hit a high of and were trading 4.57 percent higher. Parsvnath will sell 15 percent stake each in the Kurla bus station redevelopment project to Euronext-listed Yatra Capital and Saffron India Real Estate Fund-I, both promoted by Mauritius-based fund manager Saffron Asset Advisors. Yatra and Saffron have picked up the stake at land-value basis. They will also proportionately fund all future development and construction activities for the project, Parsvnath said. Future investment is estimated at 2 billion rupees and the project is to be completed in 2-½ years. The deal will help unlock value of the property and help establish a strong relationship with well-known foreign direct investment partners, Parsvnath said. Jones Lang LaSalle Meghraj was the consultant for the deal. Foreign investors have rushed to invest in India?s ...
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Hilton Group Makes a Comeback
2008-04-30 08:59:00
Hilton Hotels Corporation is on top gear to make a comeback in the Indian market. The Hilton Group today does not even have a single property in the country courtesy because of the fallen apart tie-up with The Oberoi Group. Now, left all alone in the burgeoning industry, Hilton is firing from all cylinders. The hospitality group is not only looking at bringing a full bouquet of hotels, better called - The Hilton Family of Hotels - to India but also partnering with more than one real estate company. The hotel group has a joint venture with real estate company DLF Limited for setting up hotels in the country called DLF-Hilton Hotels. Hilton is getting its brands, including Hilton, the upscale full service brand, Hilton Garden Inn, the mid-scale brand, and the Homewood Suites by Hilton, an extended stay hotel brand.The first DLF-Hilton hotel is expected to be ready this year at Saket in New Delhi. It will be a Garden Inn with 180 rooms, said a source. The total number of hotels planned...
More About: News , Hilton , Comeback

Organized Retail and Real Estate ? Booming Together
2008-04-30 08:35:00
India is beginning to make news worldwide. It?s just the right time to think India. There's a new sense of confidence in Indian business. This confidence arises from the growing success of Indian enterprise in the face of competition in an increasing number of sectors. The India growth story is going stronger than ever. Favourable demographic and psychographic changes relating to India?s consumer class, international exposure, availability of quality retail space, wider availability of products and brand communication are some of the factors that are driving the retail in India. Real estate consultancy Jones Lang Lasalle Meghraj has identified 50 Indian cities that are likely to witness most of the retail action over the next couple of years ? both in terms of development of malls and advent of organised retailers. And Jaipur, Lucknow and Kochi find mention among cities poised for ?high growth.The world is now looking at India as the nation of the future. More significantly, India ...
More About: News , Estate , Real Estate , Investment , Retail

Homeowner Insurance Tips
2008-04-28 09:19:00
When seeking home owners insurance, nothing is more important than your home, and all that it holds. While in the process of weeding out the best policy you must be prepared for what is to come as well as the final goal.First things first identify the cost rebuilding your home. Your home owners insurance should cover the replacement cost should you have to rebuild. You can start by determining the median for local building expenses as they apply to the size your home, the quality of construction, as well as the style. The most assured a way to identify this cost would be a crude hack a local contractor or home builder. Often for a flat fee they can identify the cost for you. While discussing your home with this contractor make clear any antique appliances moldings, or other unique building materials in your home.Another valuable step would be to contact a real estate agent or independent insurance agent to examine your home. They will be able to identify any special features y...
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Indian Realty driving the tourism sector high..
2008-04-28 09:06:00
India, no doubt, awaits a history to be rewritten. The Economy is firing on all cylinders, entertaining more global tourists and creating jobs faster than many other emerging economies as a whole, while leaving many employers struggling for qualified people to hire. Hundreds of top global brands are going to pack thousands of square meters of retail and office space. India is has suddenly become 'the happening' place to visit. Destination India odyssey would not have been possible had the realty revolution not happened in this part of the world. Howsoever majestic the charm of a place may be, travel and tourism can not grow unless there is a required infrastructure in place. Even though the realty sector has always been an unsung hero in attracting the tourist inflow, I must say that infrastructure and tourism complement each other. Critics, no doubt, are questioning sharp run-up in prices and sustainability of the rise. And as any single market emerges as a favorite - stocks, bon...
More About: Tourism , Indian , Driving , High , Realty

Indian real estate: 'enormous potential'
2008-04-25 07:45:00
India has "enormous potential in all its property investment categories". Strong population growth, a large pool of qualified workers, greater integration with the world economy and increasing domestic and foreign investment are fuelling demand for office, retail and residential property. India?s burgeoning middle class will drive up nominal retail sales through 2010 by 10% p.a. At the same time, organised retail is becoming more important. At present organised retail accounts for a mere 3% of the total; by 2010 this share will already have reached 10%.India is the prime destination for IT services outsourcing. In the coming five years, at least 55 million m² of extra office space must be completed in the premium office segment alone. Property investments in India are not risk-free. Market transparency is far behind European or US standards. It is therefore vital for foreign investors to have a professional local partner. The lack of liquidity and upward pressure of pricing remain t...
More About: Estate , Real Estate , Indian , Real

Understanding the Realty game
2008-04-25 07:37:00
As they say, the strong will survive or, in this case, those with a solid record, excellent service, the ability to shift with the market and, frankly, those with some cash in the bank have weathered the shift. So what is the A game in real estate these days? It?s different than what it used to be. Here?s my take on the topic: The Real Estate A Game (most of this is not new)- Full time- Admin assistant- Significant internet presence- Online social networking- Virtual tours for all listings- Tracks expenses for client results- Is known among local Realtors- Has a proven track record- Constantly studies the market- Constantly listens to the mortgage moving target- Adept at counseling clients through the uncertainties- Does not work 24/7 (that Realtor will not have longevity)- Longevity That?s my take. Anything less is B material.
More About: News , Realty , Understanding

Sub-prime shadow on Indian real estate sector
2008-04-24 08:15:00
The turmoil in the global financial markets has cast its shadow on India?s largest real estate deal. India?s real estate developers, especially the mid-sized ones, have been facing a liquidity crunch since last year. Developers can no longer tap the external commercial borrowing route, while domestic borrowing costs have gone up on account of tight-fisted monetary policy, which is likely to harden further in days to come. In addition, the stock market has taken a beating with real estate stocks falling off their recent highs. Other sources of funding for instance, the London Stock Exchange?s Alternate Investment Market or listing real estate investment trusts abroad are also not feasible in current market conditions.The tender that BPTP won, beating bigger players like DLF and Omaxe, has an allowed the company to seek an extension to pay the first tranche.Failure to make the payment within the extended deadline would result in the award being scrapped and a fresh tender being announ...
More About: News , Estate , Real Estate , Indian , Shadow

Real Estate Investment World India 2008 to be held in Mumbai
2008-04-24 08:07:00
With less than a week away, 'Real Estate Investment World India (REIW) 2008 conference will be held from April 28-30 in Mumbai. The three-day long forum will serve as a key platform to map out opportunities within India's property sector. REIW India 2008 is a world-class conference that allows industry luminaries within the Indian real estate market to meet, network and conduct business. Participants at this established platform can look to penetrate the complex and multi-faceted Indian property sector, refine their portfolio management and investment strategies while forging rewarding joint-venture partnerships.
More About: Real Estate , Real Estate Investment

Berkeley forays into realty space
2008-04-23 07:58:00
I just got my hands on the news that Berkeley Group, which registered a turnover of Rs 400 crore in the last fiscal, was earlier dealing with automobiles, insurance and finance, would now be entering into the real estate business with the launch of their new subsidiary ?Berkeley Realtech?. Initially, the company would offer only lease solutions to corporate houses but later, they will look at construction services such as construction management and interior design projects.
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Residential Enclaves on the Lines of SEZs Proposed To Beat Slowdown
2008-04-23 07:46:00
There is good news for all the people who have been disappointed seeing the recent hike in property prices. Since, houses have become unaffordable for a large segment of the population as prices have shot up tremendously in the past three years. The government is considering a proposal from real estate developers to set up SRZs outside the main cities. These SRZs are also proposed to be given tax benefits on the lines of SEZs. Developers say SRZs would help them build and sell affordable houses for as low as one-third of the existing price to low-income groups, although SRZs wouldn?t be limited to low-income houses alone. Availability of cheap land away from the city, and faster clearance through singlewindow will together bring down cost substantially. The government would require time to devise the modalities as tax incentives to SRZs would mean an additional burden on the exchequer. It will also require some implementation of regulation by government to ensure that the houses go ...
More About: Residential , Beat , Lines

DLF Garden City Chandigarh to come up in Panchkula
2008-04-22 08:13:00
India's biggest developer is putting the final touches to its plans for their Chandigarh project. The much anticipated development will be well-located in prime Panchkula suburb to the North-East of Chandigarh city. In2Perspective predicts DLF Garden City Chandigarh will be one of the best Indian real estate investments of 2008. It is likely to be a great hit with the NRI Punjabi community whose investment in the area is growing by the day.

Investing in Indian real estate- A Profitable Deal
2008-04-22 08:03:00
Real estate in India is now a safe destination for potential investors. Service apartments or Fully-furnished houses are preferred choices of long-stay executives, foreigners, Non Resident Indian s and other frequent travelers to India. These properties offer all the convenience of a hotel with the privacy and comfort of home. Whether the person is a business traveler or holiday maker, looking for more than just a regular hotel room, a service apartment is the cost benefit alternative. Giving people more space, more privacy and at a cheaper rate, most of these apartments can be available either for a day or for a year. Investing in immovable property in India is no more a tough task with difficulties due to a combination of factors. A meticulous planning at the initial investment stage can make the whole process lucid. While on the road way of making investment in this growing market, people are advised to do research online on the real estate market. Extensive research ensures that...
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What makes a property HOT?
2008-04-21 09:23:00
Is it the right price for the property? Perhaps this is the question that keeps on creeping in people's mind ever since they make up their mind to buy or sell a property. It is quite necessary to spot the right price for making a successful real estate transaction but it is some how difficult . Neither any rule of thumb nor a scientific technique is there to help! So, how to get a good deal? People are advised to believe their own instinct but cautiously. Some things which one should keep in mind to reach the decent levels of property-valuation and deal are:Good quality roads around and within the society add value to the property.Value depends on the profile of the location where the property is situated.Connectivity with bus depot, railway station and airport is equally important from buyer's point of view. In fact, property in vicinity to these facilities makes sound investment proposition.People avoid locations that are closer or are known as riot prone area or communally pol...
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Bedroom decorating
2008-04-21 08:12:00
Who doesn?t want a beautiful bedroom? One that oozes warmth, love and passion. This is the place where we spend almost 1/3 of our lives so it has to be our comfort area. The master bedroom should be a sanctuary for rest and relaxation, but for most people, it remains the most neglected room in the house. Ready to show your bedroom a little love? So what else is required together with being welcoming and warm? How about some decorating? Not overdoing it though because then it will be overpowering. Like for instance, bedrooms should have neutral colors if you are yourself a hyper person. This will help you cool down. Conversely, if you are a clam or lethargic person, add a dash of bold colors and look at you energy levels skyrocketing! Also you could use candles as a great accent item which will add a splash of colour to any room and can add a wonderful mood altering scent to the room as well. Another way to add scent to your room is by strategically placing some pots of pot pourri ar...
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Indian BPO growth next in second-rung cities
2008-04-18 09:46:00
With an upsurge in realty prices in metro and talent crunch, the $11 billion Indian BPO industry is now thinking to move to the Tier II cities in the country. Many feel that movement to lower-cost cities within India is likely to result in additional 15-30% reduction in operating cost despite lower employability and higher management costs.
More About: News , Cities , Growth

Sahara Group enters Kochi real estate market
2008-04-18 09:00:00
The real estate arm of Sahara India has ventured into South India with the launch of its 'Sahara Grace' brand of residential complex in Kochi. This is the first project of the group in Southern India. The company also proposed to bring their other brands of real estate projects to South India. Sahara Grace, Kochi will include amenities like a clubhouse and will have facilities like swimming pool, health club, gymnasium, badminton court, billiards/snooker and Table Tennis, snack counter and kid's play area.
More About: News , Estate , Real Estate , Real Estate Market , Market

Tips for Homebuying
2008-04-17 08:28:00
Buying a home can be complicated and frightening. You acquire a large debt and assume many new responsibilities. And in the back of your mind is that nagging question, ?Did I get ripped off??I designed a list of few tips to help one make the best homebuying decision possible.Look at the purchase as an investment.Avoid short term loss. Most places have slow, steady home appreciation. You can make the most of your investment by buying in a neighborhood where home values are expected to appreciate.Use a buyer?s agent. A buyer?s agent represents the buyer and is paid by the buyer to represent their interests. If you?re not a skilled negotiator, a buyer?s agent is probably the smart choice.Choose agent wisely. Look for an agent experienced in working with buyers, with knowledge of the neighborhood you are considering and without a reputation for being ?pushy.Carefully inspect the home. Learn as much as possible about evaluating the condition of a home.Watch interest rates. The lower the ...
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Factors affecting Property Prices
2008-04-16 08:17:00
We are off late witnessing Indian realty prices touching the sky. Learning to know what precedes property price increases can be challenging for any investor. There are some well-recognized factors that drive the market. I have discussed few of them below: 1. Demand & Supply- Population change is the key driver of demand. When an area becomes popular more people want to live there. Given there are fewer dwellings than interested parties, prices increase and vice-versa. The other driver is availability of land. 2. Affordability and availability of money-Affordability is the relationship between housing prices, interest rates and wages. It's the cost to the owner or investor to retain and enjoy a property. When prices, interest rates and wages reach a ceiling in a particular area, residents often realise they can have a better lifestyle elsewhere. 3. Infrastructure-Infrastructure is always a major driver for price growth when it increases the attractiveness and amenities of ...
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