New Project by Jaypee Greens-Kensington Boulevard

May 15, 2010 – 8:28 am


Jaypee Greens, a division of Jaiprakash Associates Limited brings you high-rise flats with cool environment as they launched a new project-‘Jaypee Kensington Boulevard at the Jaypee Greens Wishtown, Noida. All modern amenities such as thematic gardens, symmetric flow of the elevations of the apartment towers and of the residential plots will be offered.

One of the key attractions of Kensington Boulevard is its clubhouse which has shopping areas, swimming pool, sports facilities for outdoors like Squash, Tennis, Skating rinks, Table Tennis , Health Club with well equipped Gym, Sauna etc, enclosed hall for Martial arts / yoga & meditation and many more.

2/3/4 BHK Apartments, Studio flats and 3/4 BHK Duplex Penthouses will be offered. A total of about 2500 flats exist under this project. Exclusive apartment layouts with un-ending views for the residents exhibit the uniqueness of this project. The Price List has BSP @ 3330/sq ft.

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Apartments in Demand Again

May 4, 2010 – 4:04 pm

Aarti Yadav, an IT sector worker adjourned her plan to buy a new home,  is searching  for a 2BHK apartment in Hinjewadi according to her budget. Job security, easy sanction of home loans and other signals of economy being back on track are attracting many others, who were in a wait-and-watch mode, to buy flats, supporting an outburst in realty demand in the city.

Vice-president of Confederation of Real Estate Developers of India (CREDAI), Rohit Gera, Pune, said the commotion in demand had prompted many builders in the city to go for new projects, which they had been avoided during the downturn. “In the last few years, unenthusiasm of builders was noticed to take up new projects. Also, many good and promising projects were on a slow pace. But now, with the market showing positive signs, builders have started to pitch in.” The construction has hiked again.

According to Gera, the realty sector in Pune had begun to catch the increasing pace as observed from October last. “People who had some plans for new homes were waiting as there was an ambiguity in the job scenario and banks were not interested to give home loans. People have started to buy properties with the industry recovering on a hike and the RBI lending support to banks, creating a rush in demand.

Demand has hiked for budget apartments along with the luxury sector. “There is a rise of at least 12-15% in the property.”

Vice-president, Estate Agents Association of Pune, Kishen C Milaney, reported that the builders had started “customising” the apartments. “Previously, developers used to offer spacious 2BHK apartments of above 13,000 sq ft that came with a higher price tag. But now, 900-950 sq ft apartments are offered at a lower price, and they are finding many takers.”

He said the demand for apartments was increasing efficiently. “The demand is not restricted to any particular area, but the city is growing in all areas.”

The overall optimism in all sectors and better job visibility among the salaried class are the reasons for the new-found boom.  An attempt made to increase in prices may decrease the demand.

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Wonder of Connectivity

April 18, 2010 – 8:58 am

Express way - Greater NOIDA

Development of new connectivity can add immense value to an area. It not only provides opportunity to the developers to do more business but it also provides new options to end users. Best of all, it helps in containing the price rise of real estate in the main districts of a town.

The newly built bridge over Hindon river near sectors 121 and 119 in noida has reduced the distance of Greater Noida Sectors 1 and 4 from main noida to almost half. Because of the bridge, noida’s connectivity has improved so much that the new area is termed as noida extension. Since then a number of developers in the area have launched apartments in the price range of Rs 9 lakh for 1BHK apartment to Rs 15 lakh for a 2BHK and Rs18 lakh for 3 BHK.

The distance of sector 1 and sector 4 of greator noida, where a number of townships are being developed, has reduced to about 11km from main market place, sector 18 in noida, because of the bridge. Earlier, the distance from sector 18 to the place was around 18km. The distance from main commercial centers like sectors 61 and sectors 62 too has come down to around 8km from the earlier 14km.

The new bridge has also added value to Crossings Republik, a township on around 350 acres of land being developed by a consortium of around 10 developers. In this township, a number of projects are near completion and possessions are likely to be given to the buyers in the next couple of months.

Before the construction of this bridge, one had to travel to reach areas via NH 24. Not only is the distance via NH 24 longer, but NH 24 also remains congested most of the time, and as a result homebuyers were reluctant to purchase these apartments in these areas.

The National Highway Authority of India (NHAI) is planning to expand NH 24 to six lanes, which will further improve the connectivity to the trans- Hindon area. But the implementation will take time.

The new bridge on Hindon has come up on a 130 meter-wide connectivity road from South Delhi via a bridge over Yamuna at Kalindi Kunj.

If this road is completed and NH 24 is six laned, the connectivity to this whole area to delhi and Ghaziabad will further improve. The Crossings Republik, which is also just across the river, will be hugely benefited because  of this new connectivity.

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RBI Increases Loans On Realty

April 16, 2010 – 8:01 am

Reserve Bank of India, Kolkata

The Reserve Bank of India has asked banks to set aside more pelf for loans to realty projects which may eventually make borrowing more costly for builders. An increase in capital requirement will force banks to hike the rate of interest on such loans.

SA Bhat, chairman and managing director of Indian Overseas Bank gave his perception saying “If RBI does not raise cash reserve ratio and keep signalling rates undisturbed, my feeling is that it may strictly check the prudential norms. A hike in risk weight, particularly on real estate loans, is not ruled out.” According to the latest available data, banks exposure to commercial real estate is approximately Rs 88,581 cr.

The money that is kept aside to calculate adequacy ratio is called the Risk Weight which is 9% for all banks. Banks have to set aside less capital for borrowers with higher credit rating. For a triple A clients, the risk weight is 20%, which means banks have set aside Rs 1.80 of its own capital for every Rs 100 loan to such borrowers.

The risk weight for realty sector companies is 100%,  that is Rs 9 have to be kept aside for every Rs 100 loan to builders. This may increase to 125 percent or even 150 percent in the policy that are yet to come. To help builders and banks cope with the crises, RBI had lowered it to 100% from 150% during the decline.

As said by Hemindra Hazari, head of research Karvy Stock Broking said “Government and banks released real estate companies by financing them. Prices did not come off significantly because the growth in the realty sector was higher than the overall credit growth.Revival in the sector has landed in hike in the realty prices and now RBI may need to make an effort to lower down prices.”

Unlike personal loans, which increase only 0.7% as banks slowed down when customers began to default, they continued lending to builders. It was not justified since it meant financing a high risk sector.This did not dropped the realty prices to the extent that it actually should.Some bankers think that RBI may raise standard provisioning on commercial real estate loan, which is now at 1%. It is the money that banks set aside from their earnings on standard loans to protect their books if the borrower defaults.

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Brokers Turning into Consultants

April 13, 2010 – 8:27 am


Orlando 08 nickgigante.jpg
April 13, 2010

In order to face the competition from foreign rivals, the local brokers plan to renovate their image by turning themselves from brokers to consultants. To give a tough competition and appear professional, their idea is to transform their appearance. Laptop in hand, Necktie, some executive finesse and changed destination might assist the task of refurbishing the image.

Mr. Vibhoo Mehra,a broker from the western suburbs protested that they should not be addressed as real estate brokers. It sounds very downmarket. They should rather be called realtors or consultants. Even a conference took place on this concern which was attended by around 600 real estate agents.

Brokers must look professional and presentable is the belief of some panelists at the conference organized by the National Association of Realtors India (NAR).

NAR treasurer Kalpesh Shah said that not just the outlook will be changed; rather they want brokers to be well informed about their projects too. It will gain the attention of buyers. He also informed that the international broking firms are posing a threat to local brokers since they have started biting a chunkier share of the day-to-day brokerage pie.

City builders like Sunil Mantri, Niranjan Hiranandani and Pravin Doshi were also seen in the conference.

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Jaypee Greens Launches Kingswood Oriental Project

April 13, 2010 – 8:23 am

Jaypee Greens

Kingswood Oriental, a new project launched by Jaypee Greens, has got attestation from oriental architecture.

Jaypee Greens in Noida is introducing a new product at Jaypee Greens Wish Town,Noida that will be called “Kingswood Oriental”. This construction will consists of independent residential villas extravagant view of golf greens on one side and a chip & putt golf course on the other.

The built up area is approx 3,700 sq ft and 4,600 sq ft.The suggested price of these exclusive homes starts from Rs 3 cr at a basic selling price of Rs 8,100 sq ft where each villa will have three floors.

Community special features

Kingswood Oriental is planned to be a separate community within Wish Town and admittance will be restricted only to the buyers and their guest. It also offers Multicoloured Oriental style wall paintings in common areas like social clubs,etc

Home features

To match the compatibility with oriental feel use of wood and bamboo is made in Private lily ponds in each home Provision for elevators in each home Jacuzzi in the master bathroom Miniature gazebo in the back garden of the house Terrace garden with barbeque Top-of-the-line security system featuring videophones and burglar sensors

Oriental clubhouse

Especially designed clubhouse which has been designed using essence from the Southeast Asian architecture, takes approximately 60,000 sq ft of built up area Wellness zone with state-of-the-art gymnasium and fitness centre;yoga,aerobics areas accompanied with Multi-cuisine restaurant Exclusive members lounge area Party halls & gardens

Range of sports facilities

Apart from all the world’s luxury Jaypee also provides yours residence with sports facilities. Tennis courts Squash Swimming pool Pool/snooker Library. The Kingswood Oriental residences will be a perfect accordance of luxury lifestyle with a touch of oriental architecture, combined with the latest technology for leisurely life.
you should prefer  Wish Town because of its location that is close to the Noida-Greater Noida expressway.Also,it is just 10 minutes drive from Ashram Chowk and it is marked to have Metro connectivity in the near future.

Jaypee Greens in Greater Noida bagged the Best Golf Development-India from CNBC Asia Pacific Property Awards in 2008.

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Vision India Arrives IN Chennai

April 10, 2010 – 3:20 pm

survivors

A business group in the US named Vision India Real Estate is bankrolling a sum total of $5 million in an upcoming residential project in Chennai. The project belongs to Gem Group. This is the first time that the US Company is going for a joint development project. It is proposing an investment of $100 to $200 million (approx. Rs 920 crore) in the coming 3 years.

The company delegates was studying the market for previous 24 months and the entered India 2 years ago.

The company is in colaboration with Chennai-based Gem Group to build a Rs 320-crore project at Padur on Old Mahabalipuram Road. The company is thinking upon to develop logistics parks in Bangalore and Chennai, which will be spread over 47 acres each.

A special purpose vehicle has been floated for the purpose. The plan is proposed in such a manner that the Vision India would develop the residential projects on the land provided by Gem Group.

The concerned authorities said, “We have also initiated talks with retail houses, automobile majors, pharma companies and others”. Vision India Realty is a unified property development and asset management group that manages and also develops the hospitality residential facilities in India. It will also invest in some other projects as well.

Over the upcoming three years, Vision India Real Estate is planning to invest $100 to $200 million, as told by Mr Elad to ET. The company has set a target of $500-700 million (Rs 2,300-3,220 crore) turnover in the next three years.

Since the Chennai Market is much more stable than other cities therefore the initial focus will be on this for housing projects. It will touch the hospitality sector in the next year.

The progress reports by Ilan Elad say that about 40 million sq ft has been developed which includes about 5 million sq ft towards hospitality and about 15 million sq ft has been for residential segment.

A project called Gem Grove is planned to be built on 6.64 acres of land at Padur on the Old Mahabalipuram Road in Chennai. The project is a residential project of about 320 cr. It will accommodate 712 housing units covering a built-up area of approximately 8 lakh sq ft.

The chairperson of Gem Group R Veeramani complemented the decision to partner with Vision India saying that it is to tap their excellence in developing such projects in the US and Europe.
The projects by Gem Group are marketed by Homebay, starting at Rs 2,399 per sq ft.

It will set its 3 blocks ready for  occupancy by July 2012 with the remaining three blocks ready by May 2013.

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Delhi Is The Favorite

April 4, 2010 – 11:21 pm

According to a recent survey conducted by a leading real estate website Delhi is the most preferred location to buy a house, Mumbai follows next. It is interesting to note that Bangalore and Hyderabad come at the third most favored location for buying property.

Lucknow Properties - Real Estate India - Sushant Golf City Location
Photo by nancyarora2020The nationwide poll named ‘Realty Trends 2010’ for metros and Tier II cities across the country, which saw participation from over 4,800 property seekers consisted of Majority of the respondents belonging to the age group of 26- 35 years.

The country capital topped the charts with 34 per cent while Mumbai got 28 percent votes. Bangalore received 11 per cent votes in its favor with particularly south Bangalore being preferred the most.

With the introduction of budget 2010 the economy is improving and property prices are stabilizing, this is attracting the investors who restrained from investing last year to jump into the market with full swing.

The survey showed a large number of people looking to purchase a house want it for self-consumption. The figures tell that 67 per cent of the national property seekers want to buy a house for themselves while only 23 per cent are looking for property options from a long-term investment perspective. Short-term investors have only 10 per cent survey takers.

Surely the Indian Real Estate sector is on a roll.

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Supervision of Realty Activities Necessary

March 26, 2010 – 9:14 am

ICC Construction Continues...
PIn India there is no qualified consumer movement supported by thorough research conducted by voluntary research organisations to recommend the avenues for investment in property. The

The present enhancement in realty prices throughout India has given a new outlook to the investment in realty. The resources in real estate have slided from need oriented to profit based.  Last five years advancements have brought 300% to 400% returns in finance in realty sector.

The legal system in India is so over hindered and costly that the investors are considering surrendering their money as a good option than to knock the law doors which is benefitting the estate agents.

The enforcement of Consumer Protection Act 1986 acted as the turning point in the Indian history. The common educated man is enlightened now but what is the immediate need is the a Ralph Nadar who makes the mass awareness.

A step forward was initiated by the voluntary organisation, Common Cause, headed by of HD Shourie towards promoting an organisation to infuse discipline among various participants of the industry.

1) This organisation demanded a National Real Estate Development Council, which aims at administrating various actions related to realty.

2) Another method included allocation of ratings to builders.

The activities of guiding these authorities should cover all sectors concerning real estate development. There should be similar authorities in all big cities enforced by Central Government. The concerned delegation should maintain the records for the past projects including purchases and deposits of individuals.

With the proposal of any new project there should be strict instructions to get the details registered with the related authority for the property developers. All transactions related to finance should be governed by authority to avoid misuse of investor’s values by developers.

There should be regular inspection by the authority by visiting sites to supervise the construction schedule given by builders. The authority should also have the power to increase the deadline of the project completion.

If in case any builder fails to complete the project within the predetermined period even after the extension of the deadline, then the project should be given to a new builder in the same condition as it is keeping in mind that the investors should not suffer. Such builders should be discarded and should be charged a heavy penalty.

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Gawk on India by Euro Realty

March 24, 2010 – 9:07 am

Düsseldorf [36/365]
Photo by Farruska

Europe is once again back into action with an prelude of investment for Kolkata’s real estate in a move deemed “a first” by experts. Expo Real, the largest European B-to-B trade fair for the international property and investment market , is the biggest European commercial property trade fair.this is an annual event that take place since the beginning of October 1998 at the new Munich Trade Fair Centre. The organiser of this EXPO REAL is Messe München International. Exhibition focal points are project development, consultancy, investment and financing in the real estate sector.

In its October meet in Munich, the organizers of Expo Real had a meeting with the Senior Members of Credai’s state chapter they offered a  match-making forum with international investors and tech titans.

Eugen Egetenmeir, the managing director of Messe München GmbH, the organisers of the trade show, told city realtors” The world gawks on India, and we will be keenly interested in taking this opportunity to build the platform between European resources at Expo Real and Indian real estate projects and Kolkata is the good start for us”.

It was a three-day business-driven event that focused on commercial realty — office, retail, logistics, tourism, infrastructural real estate and residential portfolios. The 13th edition is scheduled to take place at the New Munich Trade Fair Centre from 4 of October to 6 this year, and the organisers anticipate to host an exploratory delegation from India for the first time.

“This is a exciting opportunity for the local realty trade to emphasize its strong fundamentals and get benefited by valuable exposure in the European market,” as pointed out by Credai Bengal president Pradeep Sureka.

“We will hopefully hold a fact-finding assemblage of Indian developers to the Munich trade fair this year, and Kolkata should turn up in a appreciable number to join that team.” observed Santosh Rungta, the national president of Credai.

Claudia Boymanns, the exhibition group director quoted,”The Messe München team decided a scoping conference would be the ideal platform to build on, since at Expo Real, Indian realtors will get international “investors and money”. She  flew down from Munich to meet the Calcutta real estate group. She said “Expo Real’s exclusive programme of conference events speakers gives participants insight into the latest trends and innovations in the property, investment and finance market.”

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Apartments in Delhi by DLF

March 22, 2010 – 11:09 am

Apartments

DLF, the country’s largest realty player, being a strong competitor in the residential property sector, announced flat offers in Delhi with a costing of Rs. 4 cr. Per unit at the center of the National Capital.

The launch of the third phase of a housing project – Capital Greens — at Shivaji Marg, close to Moti Nagar (near Central Delhi) is followed by the offer of 150 luxurious flats by the organization. The cost for the apartments is estimated at Rs 11,000 per square feet.

Rajeev Talwar, the Group Executive Director of DLF told PTI that since now-a-days demand for luxury products is very strong, if they provide a good product at a fine rate, it will sell.

He also added that while the costing of apartments is quite high, these are still not ahead what other developers are offering in the luxury sector in the city.

The realtor Emaar MGF in its Commonwealth Games project, is selling flats at Rs 12,700 per square feet.
Moreover, there are two residential projects by Parsavnath in the National Capital — one at Civil Lines (North Delhi) tagged at Rs 10,000 a square feet. and the other at Subhash Nagar (West Delhi) priced at Rs 7,500 per square feet.

DLF’s third phase will be composed of 4-BHK apartments only with a size of about 3,000 square feet is the next commitment by Talwar.

He also added that around 70 units are already booked and they will keep the bookings open till all the apartments are sold.

The first and second phases were launched with 1,400 and 1,250 units respectively by the company last year.

In 2007, DLF had acquired 38 acres from DCM Shriram and Lohia Group for Rs 1,675 crore, and the ‘Capital Greens’ is being developed on that land.

The ‘Capital Greens’ is being built on the land of 38 acres which DLF had accrued in Rs. 1,675 cr. from Shriram and Lohia Group rom  Shriram and Lohia Group in 2007.

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Revival of Realty

March 21, 2010 – 3:47 pm

Indian real estate in the last few months has authenticated a reawakening enforced by a noticeable increase in the level of construction activity of low-budget housing coupled with low home loan rates.

As researched by Boston Analytics, the Indian realty sector has undergone an increased supply and pace of development activity which brought an improvement in pessimism associated with the realty prices. A low interest rate on home loans driven by Government’s impetus packages have also catalysed the Indian consumers to buy homes.

“Increased supply, improvement in pessimism related to realty sector rates, and low rates of interest on home loans seems to be encouraging Indian consumers to firm up their home purchase decisions” as said by Shirin Bagga, Economist, Boston Analytics.

The data was collected by conducting a monthly survey that targets 10,000 respondents cross 15 Indian cities—Delhi, Mumbai, Hyderabad, Kolkata, Chennai, Bangalore, Chandigarh, Nagpur , Ahmedabad , Kochi, Jaipur, Lucknow, Bhubaneswar, Patna, and Vishakhapatnam.

According to the recent reports the conviction concerned to speed of construction activity conveys moDelhi Properties - Real Estate India - Unitech Ververe anticipation with regards to observed change in construction activity in Tier II and Tier III cities relative to Tier I cities.

The real estate projects which are in different phases of completion in all levels of towns and cities appear to be introducing optimism about the expected change in construction activity among respondents across Tiers,” the report said.

As brought into light by Economic Survey of 2009-10, the need of the construction and real estate sector in creation of both financial and physical assets has been amplifying over the years. The construction sector now accounts for 8% of GDP at constant prices, hiked from 7.7% in 2004-05.Equivalently, the share of real estate ownership of dwelling and business services in overall GDP as hiked to 9.2% in 2008-09 from 8.9% in 2004-05.

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The TCI Demerger

March 18, 2010 – 6:31 pm

India’s leading integrated supply chain and logistics solutions provider Transport Corporation of India Ltd announced on Wednesday that its board has approved the demerger of its real estate & warehousing undertaking into a new company named TCI Developers Limited (TDL) which will be effective from April 1.

The company emailed a press statement saying the demerged entity would have properties and investments with a book value of 50 cr rupees. The company has Real Estate properties in metropolitan cities including Delhi, Chennai, Pune, Nagpur, Bangalore, Ahmadabad and many more.

Hong Kong Container Terminal
The management said it believes that TCI’s Real Estate & Warehousing undertaking has the potential to develop the company’s existing real estate into commercial ventures and create a focused entity to develop large scale logistics infrastructure projects like multi-modal logistics parks, truck terminals, free trade warehousing zones etc.

By the creation of a separate entity, the management intends to provide strategic direction and raise adequate funds for its development plans on the strength of its future profitability and growth. After the demerger, shareholders of TCI will get one equity share of 10 rupee face value in the transferee company, TCI Developers Ltd, against every 20 equity shares of 2 rupee face value.

The company’s Executive Director Vineet Agarwal was quoted in the press statement, “Investment in real estate & warehousing is more capital intensive and yields return over a longer period of time in comparison to the services model of the logistics business. Going forward, on a long term basis we would look at raising funds from strategic investors and financial institution”.

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More Cautious 2010 by Realty

March 17, 2010 – 11:50 am

pinnacle@duxton.jpg
Indian developers are looking forward to more feasible studies of any project before actually launching them so that they can avoid the excesses that resulted in the real estate downturn in 2009.

They are sending out a message that antagonism in the market will not be accepted any more and gigantic projects will be replaced by developments that buyers want rather than speculators.

Some fairly new measures will be taken in such a sector dominated by family-run businesses. According to property consultants they are entering into strategic affiliation
for labour and raw material, appointing project management consultants, and outsourcing construction work for quicker delivery.

Aditi Vijaykar, executive director (residential) at Cushman and Wakefield India said,‘Builders are back with a bang but not an aggressive one. They want to try out new locations for projects and are trying to test a product before launching it’.

India’s largest developer by market value, DLF, will not buy land in current year and the next neither it will launch any new projects until and unless it has regulatory approvals. Presently the working capital model of DLF will depend on cash flow from pre-sales, customer advances and bank debt. Though it is not that easy to stop abstract buying, but a system like one home per family is required.

The realty sector is now conducting feasibility studies on the sizes and pricing of homes to ensure the right profile for its projects which was rarely done in previous years. Developers are also looking at special purpose vehicles or joint ventures instead of purchasing land outright. The real estate firms are also raising money though initial public offerings are aiming to use the funds for ongoing and proposed projects or to retire debt.this is extremely different from what it was done in 2006 and 2007 when everybody was interested in making money.

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Palm Hills in Gurgaon

March 12, 2010 – 12:30 pm

One of India`s leading real estate developers, Emaar MGF Land, announced the launch of a new mid-income housing project `Palm Hills` in Gurgaon in NCR. It will be located on NH8 with the prime location in Sector 77, Gurgaon. The total investment will be Rs 500 crore as said by sources on an area spread over approx. 29 acres with a scenic view of the Aravalli Hills.

Palm Hills proposes to house1250 units approximately with an expectation to raise up to Rs 3,850 crore. With a starting price tag  of Rs 48 lakh the company has already sold 650 units in the first phase. These apartments will be giving a feeling of a villa with unique features that no development serves. These will include 3 and 4 bedroom apartments with 1450sq ft to 1950 sq ft per villa. These villas have efficient floor plans and offer us the choice to make amendments to maximize our living space.

Shravan Gupta, executive vice chairman and managing director of Emaar MGF said, “The launch of Palm Hills marks the obligation of Emaar MGF to continuously develop properties with modern design concepts  and gives the experience of living in a gated master planned community a new definition. “The exhilarating response on the very first day of the project launch is an indication to the predominating huge demand for quality housing in the mid-market segment” he added.

Palm Hills are located at only a 20 min drive from Delhi`s International Airport and surrounded with green landscaped areas with a tinch of Spanish styling architecture.

The rocketing success of Emaar MGF can be guessed by taking a look at their reserves.they have a land bank of 11,340 acres.including the Commonwealth Games Village it is currently working on 29 projects.

Snowy palms in Beacon Hill
Emaar MGF which is a joint venture between domestic firm MGF and Dubai-based Emaar Properties is planning to utilize Rs 1,972 crfor part re-payment of debt of over Rs 5,800 cr. It will also be investing Rs 276.8 cr in paying development and licence renewal charges.

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Boom of Shopping Malls

March 11, 2010 – 11:44 am

0878 10-11-2003 London
A Shopping MallMarch 11, 2010

You must be astonished by the growth of India in terms of rapidly increasing number of Shopping Malls. You must also doubt that where they will find so many shoppers and lodgers. But the experts claim that  as compared to developed and other developing countries, the mall culture in India is still in fledgling stages.

A super mall, which is at least 11.2 lakh sq. ft. in size is still in dreams of India while the US had 50 of them and even South Africa 21 way back in 2005.

Asipac, a Bangalore-based real estate development consultancy, made a study of this growth and came to the conclusion that while Australia has 75 regional malls(5-11.2 lakh square feet) besides 15 super malls, India has just 12 malls which can be considered regional.

The recently opened Mantri Square in Bangalore, country’s largest one, is even less than one fourth of the Dubai Mall – 3.77 million square feet, the  world’s largest mall.

Therefore,it can be inferred that there is a room for 100s of more mega malls as India advances its ambition to become a super power economy with a big middle class merchandise.

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Cement Players Diversing Towards Realty.

March 10, 2010 – 4:22 pm


Cement Plant Park
Photo by masckThe Braj Binani Group with a history of138 successful years is a well-diversified industrial house working actively in the core sectors of Cement, Zinc, Glass Fibre and Downstream Composite Products. Binani Cement is growing stronger and stronger and it’s reflected in the financial results as well. Mr. Vinod Juneja, Deputy Managing Director, Binani said,  “Binani Cement has keenly invested in a running virgin cement plant in China.

Now Binani cement which is the flagship company of the Binani Group — is crawling into commercial real estate development. The Binani group is planning to invade the realty sector even. The purpose behind this seems to cash in on its idle land bank and to reduce dependence on the cyclical nature of the cement business.

The Binani group has committed to develop an information technology park. This project will be done with a partner on 56 acres of land it has in Thane near Mumbai. The construction of the project is proposed to get started in a few months and is suppose to complete by next year.

The company’s managing director Vinod Juneja told ET that the company is “exploring many options including a joint venture”. He did not divulge any more details. The over supply of capacities by year-end — cement capacity is likely to go up by 50 mt from 240 mt some Cement analysts said. This will put pressure on prices leading to partial erosion of profitability. “This is why cement players are diversifying and looking for newer markets,” said an analyst.

The current price of Rs 75.60 discounts the company’s Q3 December 2009 annualized EPS of Rs 11.26, by a PE multiple of 6.71. A mid-cap cement maker has an equity capital of Rs 203.10 crore. Face value per share is Rs 10.

Binani Cement’s net profit surged 573.4% to Rs 57.17 crore on a 11.7% rise in sales to Rs 402.33 crore in Q3 Dec 2009 over Q3 Dec 2008.

Binani Cement which is engaged in manufacturing and marketing cement and non-ferrous metal is looking for newer markets. Since the stock had underperformed the market over the past one month till 9 March 2010, gaining 0.69% compared with the Sensex’s 6.30% rise. It outperformed the market in past one quarter, rising 8.72% as against 0.42% decline in the Sensex.

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CCCL Offers Paradise Living

March 9, 2010 – 5:24 pm


In modern world of opportunity, there is new breed of royalty, who breed in style that exudes royal blooded class. But all it takes to be royal is nThe Arch Hong Kong residential towerot a silver spoon but just a royal perspective and surely there is no compromise when it comes to lifestyle living. Then how about a 31-storey sky rise residential tower with Udupi, the temple town known for its eternal charm and ethnicity as its landmark? Royal embassy in Manipal symbolizes the life style of neo-stylists. Manipal which has already found a place in the map of India as a bustling educational and health care hub will have Royal Embassy to add to its charm.

This project is soon to start after the concerned authorities will obtain a no objection certificate. This project is commissioned to India’s second largest construction company Consolidated Construction Consortium Limited (CCCL) by M M Builders. CCCL has done prestigious and challenging projects all over the country and earned a unparalleled reputation.

Planned to be one of the tallest buildings and including Manipal’s first shopping mall it will be spread over 3.38 acres of land just behind the MAHE library. This so royal ROYAL EMBASSY will house 402 apartments of two, three and four bedrooms and is designed in such a way about 70% of the building will be able to get sea view. Launched in January, 2009 it is progressing at a brisk pace as per plan and the project is expected to be completed by December 2012. The micro level detailing of the project involving the best team of architects, structural consultants, electrical consultants, plumbing and fire safety consultant and pollution and environment consultants is kept under consideration by promoters.

The team of Simons architects say, “Lot of care has gone into the micro level detailing of the project.  It would be a model to achieve remarkable safety standards and one of the best ever conceived projects on this soil”. Sripeksha Engineering Consultants, Bangalore have proposed an excellent lighting design scheme for the project. Apart from all this the Cascade Consultants have come up with a perfectly foolproof smoke detection and firefighting system, plumbing and sanitary work.

A full proof round the clock security system is been given the top priority for the safety of residents. Amenities includes a grand entrance lobby with visitors waiting lounge, swimming pool & baby pool with filtration plant and  changing rooms, 6 high speed lifts with auto doors, children’s play area both outdoor and indoor, joggers track, power back up for 24 hours for lifts. Utmost priority is also given to address environmental concerns by proposing modern MBR technology Effluent Treatment Plant, Rain Water Harvesting system and solid waste management system

With the promoters paying attention to even the minutest details and involving the best people in business Royal Embassy is sure to emerge as the crowning glory giving a new dimension to the real-estate scenario in this part of the coastal belt.

the related information will soon be available on www.propertywala.com

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New released projects concentrate on affordable housing.

March 8, 2010 – 5:58 pm

Real Estate = Big Money
Photo by thinkpanama A week after the budget is announced, it has turned up to be a matter of concern for the Realty companies. Imposition of a service tax of  10% on the cost of construction hand in hand with a hike in interest rates by 0.25-0.5% the industry is looking forward to some different methods to attract the customers.

As the real estate in striving to come out of the recession scenario many realty companies are coming up with fascinating projects and plans concentrating on almost all class of people. Believing the words of Union Minister for Housing and Urban Poverty Alleviation and Tourism Kumari Selja, the industry is now looking at construction of affordable housing as the next alternative.

Some major realty companies like Life Insurance Corporation of India (LIC) would undertake realty projects, both commercial and residential, across the country. Jaipur Development Authority (JDA) has come up with a new residential scheme Swarn Vihar’ near Muhana.A prick in the real estate boom, sky high land prices and a keen need to conserve cash are forcing some real estate companies to do joint development deals with landowners rather than splurge money in buying and holding land at expensive rates.

A prolific view over the new projects launched says that the JDA runs over an area span of 52.64 hectares. This scheme is finally to be launched on Friday and the expectations are to come up with the highest reserve price demanded by the development authority. The total reserved price decided by JDA is Rs 6,200 per sq mt for the new scheme. Keeping in mind the low income group it has decided to provide a relaxation on the contrary the people with high income will not be spared with the payment of additional percentage over the reserved price. The scheme is located at an urbanized area of Mansarovar well connected to the city.

Similarly concentrating on the “affordable housing theme” the ministry is urging states and private sector to gestate models providing more affordable housing as emphasized by Selja. LIC which was at a premium income of Rs 1,76,000 crore during the current fiscal, now aims at 18 per cent to 19 per cent growth in the next fiscal. The sources say that LIC will be investing Rs 2 lakh crore in the current fiscal, with the infrastructure projects sharing 15% of it.

Apart from attracting low income holders Bangalore-based developers, such as Puravankara, Nitesh Estates, Brigade Prestige and Mumbai-based Godrej Properties are adopting the joint development route to develop properties, being aware of the immediate need to save cash in a market that is becoming increasingly tight-fisted for real estate firms.

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Jaypee Group Launches Jaypee Greens Sports City in Greater Noida

November 9, 2009 – 5:24 pm

Jaypee Greens (part of the builders Jaiprakash Associates) has announced the launch of its new project of “Jaypee Greens Sports City”, a township with residential and sports facilities, near the Yamuna Expressway (connecting to Agra). “The Sports City is positioned for everyone who appreciates luxurious surroundings and spaces equipped with sports and recreational facilities,” said a Jaypee Greens press release.

The Sports City will have various Residential Districts which would be built by the company in phases. The first district will be the Country Homes, with sizes varying from 200 to 4000 sq mts. This will be followed by Lake District with high, mid and lower end apartments. The city will have features like uninterrupted water and electricity supply from Jaypee Group’s own power generation plants, round the clock 3 tier security, super specialty health facilities and educational facilities ranging from Kinder crib to professional levels.

For more details and booking please visit: http://www.propertywala.com/projects/560172

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Nyati Group enters hospitality business

October 9, 2009 – 5:51 pm


Pune-based real estate developer Mr Nitin Nyati has made a foray into the hospitality segment with the launch of the Corinthians Boutique Hotel.
Mr Nitin Nyati, Chairman-Nyati Group, said, “Entering the hospitality business was a logical extension of our existing Club business. After market research and analysis, we decided to create a destination hotel.”
The group, which has formed Nyati Hotels and Resorts an SPV for the business, has invested Rs 120 crore in the boutique hotel. It has also firmed up plans to launch another property with sixty spa villas at Khadakvasala and build a second boutique hotel on the Pune-Bangalore highway. “In time we want to go nationwide with the concept,” Mr Nyati said.
Located on a hill-top, the 120-room Corinthians Boutique Hotel has been built in a Moroccan style with Greco-Egyptian elements of architecture. Among the highlights is the Brew House pub having an attached brewery that can brew 200,000 litres of fresh beer in a wide range of varieties.

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Debt clearance likely to use up a quarter of realty IPOs

October 9, 2009 – 5:50 pm


Nearly a quarter of the Rs 11,665 crore funding that five real-estate companies plan to raise through IPOs will be used to re- and pre-pay debt.
Emaar MGF Land, Ambience Ltd, Lodha Developers and Kumar Urban Development have earmarked a part of the IPO proceeds for loan repayment. Sahara Prime City plans to invest the proceeds only in construction and development of projects, as well as general corporate purposes.
According to the preliminary draft prospectus filed with SEBI, Emaar MGF Land intends using about Rs 1,972 crore for debt repayment and prepayment under two heads. It wants to repay Rs 1,772.6 crore of its outstanding debt from the IPO proceeds and de-leverage the balance-sheet. Its lenders include LIC, Axis Bank, LnT Infra Finance Co, HDFC Ltd and UTI MF. Other lenders are SBI, HSBC Ltd, Bank of India, Standard Chartered Bank, Citibank, IndusInd Bank and Kotak Mahindra Bank.
Additionally, it plans to use Rs 199.5 crore to fund Emaar MGF Construction for repayment and prepayment of loan facilities. The modalities of funding Emaar MGF Construction are yet to be finalized, but could be via both debt and equity. The remaining proceeds of the IPO would go towards development charges and license renewal fee, redemption of preference shares and general corporate purposes.
Ambience Ltd, which is developing commercial and luxury residential complexes in the National Capital Region, wants to prepay up to Rs 475 crore of outstanding loans. The rest would go for the development and construction of projects such as the Caitriona condominium complex (Gurgaon), an office complex at Ambience Island Township (Gurgaon) and Ambience City township project (Panipat).
Mumbai-based Lodha Developers proposes to use Rs 299.3 crore from the IPO proceeds to fund subsidiaries that have taken loans from various banks/financial institutions. It would deploy Rs 1,833 crore for the construction of eight ongoing and planned projects.
Kumar Urban Development, which is present in Pune, Mumbai, Bangalore, Hyderabad and Nagpur, plans to use about Rs 200 crore from the IPO proceeds to repay loans. The remaining amount from the Rs 450-crore public issue will be used to acquire land development rights and for construction costs.

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Dubai to host IndiaHome

October 8, 2009 – 2:26 pm


The IndiaHome Property Exhibition, which helps the Indian get information on a range of residential real estate opportunities in India, will be held in Dubai from 9th to 11th october 2009.

The exhibition invites builders from across India to present their projects under construction and will showcase Emaar MGF, ETA Star, Hiranandani Constructions and Raheja Corporation. The cost of the properties showcased is likely to be in the range of forty lakh to ten crore rupees.

Mr. Ashish Mehrotra, Head Consumer Assets- Citibank, said, “Owning a home in India is a long-cherished desire of all NRIs worldwide. Our endeavour with the IndiaHome Property Exhibition is to create a convenient interface for NRIs with India’s reputed real estate developers and help make the purchase process flawless”.

Further he added, NRI customers can avail loans ranging from twenty lakh to five crore rupees for ready-to-move and under-construction properties which can be obtained under flexible payment plans and periodic payments can be conveniently routed through the Citibank NRE/NRO Account.

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Interest rates on home loans decline further

October 8, 2009 – 2:25 pm


An interest rate war is brewing in the home loans this festive season. Development Credit Bank (DCB) and GIC Housing offering home loans below the psychological 8%. DCB, which recently entered the segment, is offering home loans at 7.95% for loans up to Rs 5 crore at fixed interest rate for the first year and floating rates from year two.

“While affordable housing is the buzzword these days, the market would get a further boost if attractive financing options are available,” says Praveen Kutty, executive vice-president and head, retail banking, DCB.

Central Bank of India and Punjab National Bank have waived off processing fee and documentation charges on certain loans. While one would argue that there isn’t much difference between 7.95% and 8% home loans, bankers say that it is basically a psychological pricing to get more borrowers into their fold.

According to bank observers, borrowers prefer low interest bearing home loan accounts of nationalized banks over private banks. “While there has been demand for home loans in the affordable home loan segment (up to Rs 30 lakh), the activity in the upper bracket (loans above Rs 50 lakh) has mostly revolved around restructuring or takeover of such accounts by another bank,” says VS Reddy, managing director, Lakshmi Vilas Bank.

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Looking for SEBI norms for REITs

October 7, 2009 – 1:34 pm


PE investors in real estate projects are waiting for SEBI’s REIT Regulations so that they get an exit option once their investments mature.
In the absence of REIT regulations, PE investors are unable to unlock the investments made in realty projects in the last 4-5 years. An estimated 3 – 4 billion dollars investments mostly at the project level, majority of which came through the FDI route, are awaiting exit options like REIT or REMF.
Though SEBI had issued draft REIT regulations almost 2 years ago in December 2007, it has not yet made up its mind on the final regulations.
Even in the case of REMF scheme, which was notified in May last year, the regulator has held back permission to a couple of entities – HDIL Constructions and Kumar Housing Corporation.
Valuation of realty by accredited valuers is yet to be sorted out, since SEBI has not issued a list of real estate valuers.
REITs have become a preferred vehicle for investment in properties around the world. Global market for REIT is estimated at over 450 billion dollar with Asia alone accounting for seventy billion dollar market share.

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