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Get the latest news on property in India. Favista's news section is focused on bringing to you all the relevant news making property stories from India, ensuring you stay updated with the current happenings in the real estate industry at all times.

Expectations from Indian real estate market post elections

Mahboob Alam - 05-May-2014
Political instability has strong impact on buyers sentiments and other stakeholders in real estate market like developers, brokers, agents etc. Though the elections have already started showing its impact on real estate market that include both qualitative and quantitative shift, there are still questions in people's mind.

Noida: Godrej Properties plans to enter Noida market

Neelam Batra - 29-Apr-2014
Mumbai-based real estate developer Godrej Properties Ltd. is looking forward to entering Noida's realty market. The company is looking for a right land partner for the development of a housing project.

NCR Delhi: Three-fold increase in office space leasing in NCR

Neelam Batra - 23-Apr-2014
With nearly 1.5 million sq. ft. rise during January-March period, office space leasing in the Delhi NCR region has shown three-fold growth. As per a report by property consultant Cushman and Wakefield, vital reason behind this growth is higher absorption by IT firms in Gurgaon.

National: REITs can change Indian real estate market

Mahboob Alam - 17-Apr-2014
It is a common perception that only introduction of a regluation is the only wayt o improve Indian real estate market. Though it is of great significance to bring regulation, right kind of financial tools related to real estate markets are also equally important to bring changes in the real estate market of the country.

National: NHB to come up with ratings for housing projects soon

Neelam Batra - 08-Apr-2014
The National Housing Bank (NHB) recently announced that in order to make help home buyers make more informed decision, it will soon launch a rating system for housing projects in association with banks.

National: Tenants in big city malls shift towards small cities: ASSOCHAM

Mahboob Alam - 27-Mar-2014
As per ASSOCHAM trend survey reports, high rentals and low footfalls have compelled tenants in big city malls to look for other options in tier II and III cities. Shop owners in shopping malls in big cities like Mumbai, Delhi, Bangalore and Kolkata are now shifting to smaller cities like Jaipur, Pune, Lucknow, Chandigarh and Indore.

Gurgaon: 15 best condominiums in Gurgaon as per IMRB survey

Neelam Batra - 24-Mar-2014
Winners don't always take it all, especially when one has to choose the best from the best. The 10 housing societies that made it to the top 15 of Clash of the Condominiums but couldn't break into the best five matched the winners in several parameters and even surpassed them in some but lost out in the overall tally.

National: 13 per cent rise in PE investments in realty sector

Preeti Aggarwal - 18-Mar-2014
As per Cushman & Wakefield's (C&W) latest report of private equity investment in real estate, in 2013 there has been a rise of 13 per cent in total inflows from Private Equity (PE) in the realty market. The total inflows was recorded at Rs. 7,000 crores (USD 1.2 billion) for 2013 as against Rs. 6,200 crores (USD 1.1 billion) in 2012.

Mumbai: Property tax relief for owners

Mahboob Alam - 12-Mar-2014
All the property owners who are required to pay high property tax as per the new system introduced in 2010 have got a relief with the Bombay High Court's order on payment of property tax.

Realtypapa.com - a networking platform for real estate market

Preeti Aggarwal - 06-Mar-2014
Indian real estate market has got a new networking platform Realtypapa.com. This has been launched as a common platform for all interested and engaged in real estate sector. This will be a common chatting and networking platform for real estate developers, policy officials, brokers, investors, end-users and many others in real estate.

National: Delivery of housing units expected to rise this year

Neelam Batra - 04-Mar-2014
Delivery of housing units is expected to increase this year as compare to the last few years. As per the estimates, around 6,59,000 units are anticipated to be added to the residential realty market.

Bangalore: Luxury studio apartments make preferable choice among single professionals

Mahboob Alam - 28-Feb-2014
Luxury studio apartment market in Bangalore has boosted with increase in expat population, major part of which is formed by single professionals. The luxury studio apartments with separate sitting and sleeping areas and a small kitchenette make a perfect residential choice among single professionals.

Gurgaon: Silverglades to invest Rs. 350 cr in residential project

Neelam Batra - 22-Feb-2014
Real estate developer Silverglades announced that it is planning to invest Rs. 350 crore in Gurgaon. It will develop a residential project. The group also informed that it will join hands with Non profit organization Age Ventures for management of apartments developed for senior citizens.

Noida: GNIDA increases land allotment rates in Greater Noida

Preeti Aggarwal - 17-Feb-2014
Buying a property in Greater Noida gets costlier with Greater Noida Industrial Development Authority's (GNIDA) decision to increase land allotment rate by 10.21%. The hike will come into effect from 1st Apr, 2014.

National: Over 200 projects to be presented in Realty India expo in Muscat

Mahboob Alam - 13-Feb-2014
Realty India Expo 2014 in Muscat to showcase over 200 residential projects from more than 30 builders from India. The expo will be held on 21st Feb and 22nd Feb in Muscat, the capital of Oman.

Mumbai: Worth Rs. 1crore property available for rent just at Rs. 20,000 per month

Mahboob Alam - 11-Feb-2014
Imagine living in a super-luxury home of worth Rs. 1 Cr. only for a monthly rent of Rs. 20,000. And the cherry on the cake is that the property is available in Marol, Mumbai. Home seekers can easily find 1BHK apartments for a monthly rent of varying between Rs. 20,000 to Rs. 25,000.

Mumbai: Postponed real estate projects to rekindle with Supreme Court ruling

Preeti Aggarwal - 05-Feb-2014
Supreme Court's decision has brought a ray of hope among the developers who have a number of stalled real estate projects in area tagged as 'private forest' in Mumbai. The authority has allowed builders to develop various land parcels in Mumbai's suburbs that were blocked from encroachment as these were listed as forest land.

National: RBI's third quarter monetary policy troubles real estate market

Neelam Batra - 03-Feb-2014
Hike of 25 basis points in Repo rate by Reserve Bank of India (RBI) has created worries in real estate sector. Change in Repo rate to 8 per cent from 7.75 per cent earlier and hike in Marginal Standard Facility (MSF) and Bank rate to 9 per cent has been decided in third quarterly monetary policy review for the financial year 2013-14.

Noida: KV Developers launches WindPark in Greater Noida West

Mahboob Alam - 31-Jan-2014
KV Developers - newly established real estate branch of leading mint producer KV Group recently announced the launch of its new group housing project. Located in Tech Zone IV, Greater Noida West the project has been named WindPark in Greater Noida West in National Capital Region.

Mumbai: Impact of policies on Navi Mumbai real estate

Neelam Batra - 28-Jan-2014
One of the fastest growing and most enviable home destination among buyers is Navi Mumbai. Home buyers who find it difficult to afford a residential property in central Mumbai turn towards Navi Mumbai, where they get a wide range of affordable homes.

Gurgaon: Dwarka Expressway clears major hurdle

Mahboob Alam - 25-Jan-2014
Haryana Urban Development Authority (HUDA) has cleared the major hurdle in the way of Dwarka Expressway by deciding to provide alternative plots to over 200 house owners whose property was blocking the way of the expressway.

Bangalore: The city emerges as largest office space provider in India

WRITER - 23-Jan-2014
Bangalore is soon going to be the first Indian city to cross the milestone of having more than 100 million square feet of leased A-grade office space. The city is anticipated to reach this figure in March, 2014.

Gurgaon: Supertech partners UK designer Yoo for luxury project in the city

Preeti Aggarwal - 22-Jan-2014
Noida based real estate developer Supertech Limited has entered into a joint venture with international interior designer Yoo for its luxury project in Sector 68, Gurgaon. The group is all set to offer superior lifestyle properties to home buyers.

Gurgaon: M3M to invest Rs. 3,000 Cr. in 7 real estate projects in city

Mahboob Alam - 15-Jan-2014
Renowned real estate developer M3M is planning to invest Rs, 3,000 crore in seven realty projects in Gurgaon. This investment on construction will be done over a period of three years.

Mumbai: Nahar Group and Eiffel Developer come with Balewadi F-Residences

Neelam Batra - 14-Jan-2014
Nahar Group – Mumbai's leading real estate developer comes with Balewadi F-Residences in association with Eiffel Developer of Pune. This first fashion and technology enabled residential project in India offers three levels of fashion and technology empowered home in two different formats including Prêt-a-Porter and Hot Couture.

Noida: Cosmic Group comes with 'Urban Young' on Yamuna Expressway

Mahboob Alam - 09-Jan-2014
One of the leading real estate developers Cosmic Group is all set with its new project 'Uban Young' on Yamuna Expressway. The group recently unveiled this innovative project, which has been especially designed for young urban generation.

National: Big ticket funding expected in 2014

Neelam Batra - 06-Jan-2014
One of the key concerns of real estate developers in previous year was funding. But this situation might change in 2014 due to some of the key policy decisions taken in 2013. It is anticipated that these decisions will help developers get big ticket funding.

National: SBI and HDFC cut home loan rate by 0.25 percent

Preeti Aggarwal - 24-Dec-2013
Two of the biggest home loan financiers State Bank of India (SBI) and HDFC have cut home loan rates by 0.25 per cent. Realtors are of the opinion that this will help revive real estate market and will boost sales.

NCR Delhi: Connaught Place ranked 7th dearest office space destination - CBRE

Mahboob Alam - 20-Dec-2013
Connaught Place in Delhi has slipped two notches to become the world's seventh costliest office destination due to slowdown in the realty market and fall in rupee's exchange rate, property consultant CBRE said.

National: Government to confer with developers before passing regulatory bill: Girija Vyas

Mahboob Alam - 17-Dec-2013
At the CREDAI Conclave, Dr. Girija Vyas, Union Minister of Housing and Urban Poverty Alleviation, assured realty developers that if required modifications will be done in real estate regulatory bill.

Gurgaon: Ashiana joins hands with Landcraft for a project on Dwarka Expressway

Preeti Aggarwal - 13-Dec-2013
To launch 'The Center Court', a residential project on Dwarka Expressway, Ashiana Homes Pvt. Ltd. and Landcraft Projects Pvt. Ltd. have come together with equal equity. The project will be launched in Sector 88A on Dwarka Expressway, Gurgaon.

Gurgaon : High-rise owners in city to present report on safety standards

Neelam Batra - 02-Dec-2013
In an effort to increase disaster readiness, owners of high-rise structures and hazardous industries in Gurgaon will have to present a compliance report on safety standards. It has to be submitted to district authority in next two months.

NCR Delhi: Investors still find NCR realty market an attractive choice

Mahboob Alam - 27-Nov-2013
Despite slowdown, real estate investors find residential market in Delhi NCR an attractive option for affordable, mid and high-end housing projects.

National: Stamp duty rise irks real estate agents

Varsha Chaudhary - 12-Nov-2013
The state government's decision to ameliorate the Indian Stamp Act has got criticism from realty developers and agents. As per the builders, this amendment will lead to increase in taxation.

Noida: The 3C Company to launch mixed-use project in the city

Preeti Aggarwal - 08-Nov-2013
Well-known real estate developer The 3C Company enters into a strategic partnership with Four Seasons Hotels and Resorts – Canada based five-star hotel management company for the development of a mixed-use project in Noida.

Gurgaon: Housing rates jump 3 fold on Dwarka Expressway

Neelam Batra - 06-Nov-2013
Dwarka Expressway suburb in Gurgaon sees around three-fold increase in housing prices in last five years. As per a report 'Investment Hotspots in Delhi NCR', average increase in residential capital value on Dwarka Expressway is Rs. 7,000 per square foot in 2013 from Rs. 2,426 per square foot in 2009.

NCR Delhi: Studio apartments sale beats slowdown

Varsha Chaudhary - 24-Oct-2013
Sale of 1BHK apartments or studio apartments in NCR Delhi belt shows positive trends despite slowdown in market. In last quarter around 20 percent increase in sale of small flats had been noticed and most of the demand was made by middle class real estate investors.

Gurgaon: SARE Homes comes with Club Terraces in Sector 92

Vishnu Swaroop - 16-Oct-2013
SARE Homes – a well-known real estate developer in India launched its new residential project 'Club Terraces' in Sector 92, Gurgaon. It is part of 48 acre township in New Gurgaon suburb.

National: Around 20% decline in office space absorption in top cities

Preeti Aggarwal - 15-Oct-2013
After performing well in Q2, 2013, A-grade office space absorption recorded a decline of around 20 percent in top seven largest cities of India.

National: Real Estate Investment Trusts to be allowed in India

Mahboob Alam - 11-Oct-2013
Real Estate Investment Trusts (REITs) is soon likely to be allowed by the Securities and Exchange Board of India (SEBI).

NCR Delhi: Yamuna Expressway Authority ready with five new schemes

Neelam Batra - 10-Oct-2013
Yamuna Expressway Authority (YEIDA) is ready with five new schemes which its soon going to launch. Under these new schemes industrial, institutional, mix used land and residential use plots will be provided.

Serviced Apartments - property investment with high yields

PReeti Aggarwal - 04-Oct-2013
One of the most favored and hot real estate investment option at present is serviced apartments. High yields with huge capital appreciation and regular income as rents, male serviced apartments a hot real estate avenue.

National: Property prices anticipated to increase after VAT order

Varsha Chaudhary - 01-Oct-2013
Property prices in India are anticipated to increase after Supreme Court's announcement of value-added tax on real estate transactions in addition to stamp duty. Analysts say that VAT in addition to stamp duty might negatively affect the realty market worse which is already battling a slowdown.

National: UP get highest rank in new real estate invesments

Neelam Batra - 30-Sep-2013
With around 40 percent share in new investments in real estate, Uttar Pradesh (UP) has been ranked highest among top 20 states across the country. As per The Associated Chambers of Commerce and Industry of India (ASSOCHAM), in first quarter of current fiscal year UP is the state which attracted maximum number of new investments in real estate sector.

National: Hike in cement prices to make housing costlier

Mahboob Alam - 26-Sep-2013
After price correction in all the major markets, now its cement prices which have increased by around 30 percent. Price of a 50kg bag has increased to Rs. 275 from Rs. 210 last month, which is further anticipated to increase to Rs. 325 in festive season.

Mumbai: Sea-facing duplex sold at Rs. 1.35L per sq ft

Preeti Aggarwal - 24-Sep-2013
Despite the ongoing market trend, Mumbai real estate market continues to create record. New entry in the list is a deal of costliest apartment in Malabar Hill. The sea-facing duplex in Darshan Apartments has been sold for Rs. 57 Cr., which is around Rs. 1.35 lakh per square foot.

Gurgaon: Ramprastha Group to invest Rs. 1,000 crore in 2 townships in the city

Varsha Chaudhary - 23-Sep-2013
One of the leading realty developers Ramprastha Group plans to invest Rs. 1,000 Cr. in Gurgaon. The huge sum will be invested in two townships each of which will spread over 450 acres.

Mumbai: Donald Trump back in India with Lodha Group

Neelam Batra - 20-Sep-2013
Trump Organization of US based realty tycoon Donald Trump enters Mumbai through a relationship with Lodha Group. Trump signed a brand licensing agreement with Lodha Group for Trump Tower Mumbai.

National: Real estate sales revival expected in festive season

Neelam Batra - 17-Sep-2013
Realtors have high hopes from the ensuing festive season and expect a noticeable improvement in sales in the sluggish real estate market. Weakening of rupee against dollar and recent crackdown on chit fund companies has negatively affected Indian real estate market and now the developers have all hopes from approaching festive season.

NCR Delhi: Nationalized banks ready to finance Greater Noida West projects

Mahboob Alam - 10-Sep-2013
Nationalized banks' interest in Greater Noida West projects has helped the Great Noida Authority to take a sigh of relief. Greater Noida West which earlier used to be known as Noia Extension was blacklisted by the banks after the land row in 2011.

Mumbai: Western suburbs offer ample 1BHK choices

Preeti Aggarwal - 09-Sep-2013
Mumbai is one of the cities with maximum demand of 1BHK housing units. Most of the property investors looking for properties there give preference to 1BHK apartments and one of the major reasons behind this is sky-high prices of other options.

National: RBI calls upfront 80:20 loans for flats a risky business

Neelam Batra - 04-Sep-2013
Reserve Bank of India (RBI) excludes banks from providing direct loans through schemes like 80:20. As per the apex bank, these upfront loans for under-construction projects are risky as these are classified as mortgage not construction finance and need more provisioning.

National: Realtors lower prices and distribute freebies to cope slowdown

Mahboob Alam - 02-Sep-2013
Economic slowdown has hit real estate market too and resulted into inventory of 6 lakh homes in the country. Builders are forced to bring down the property prices and distribute free gifts to woo home buyers.

National: Urgent implementation of REITs demanded by brokers

Varsha Chaudhary - 29-Aug-2013
With declining rupee value and investor interest going down, an urgent need for the Real Estate Investment Trusts (REITs) implementation has been felt. Experts opine that it will ensure more liquidity in real estate market.

NCR Delhi: Property prices rise by 15 percent in Delhi-NCR

Mahboob Alam - 23-Aug-2013
As per a report by a leading real estate portal, an average of 15 percent rise has been noticed in property prices in Delhi-NCR during April-June quarter of 2013. Sector-54 in Gurgaon witnessed the highest increase in property rates which is around 87 percent.

Bangalore: Premium apartments in Koramangala in high demand despite increasing prices

Neelam Batra - 19-Aug-2013
Premium living in South Bangalore is taking city forward. Unprecedented rise in premium apartments has been noticed in Koramangala which is crowded by expat working professionals.

Mumbai: 16 percent rise recorded in registrations in realty market

Mahboob Alam - 14-Aug-2013
A 16 percent rise has been noticed in property registrations in Mumbai real estate market. In the first half of 2013 the number of registrations were 34,558 against 29,773 recorded last year.

Gurgaon: Affordable Housing Policy gets approval of Haryana Government

Neelam Batra - 07-Aug-2013
The Haryana government approved 'Affordable Housing Policy' in order to ensure mass availability of affordable homes via grant of license.

National: Govt. plans to modify FDI norms for real estate

Mahboob Alam - 05-Aug-2013
In its endeavor to encourage investors to participate in Indian real estate market The Ministry of Housing and Urban Poverty Alleviation (HUPA) is planning to ease Foreign Direct Investment (FDI) norms in realty projects.

National: Home buyers to get low interest rates on home loans for green homes

Preeti Aggarwal - 31-Jul-2013
There is a good news for those investing in certified green and energy-efficient homes. These buyers will get home loans at lower interest rates as compared to home loans availed for normal homes.

National: Indian Luxury Segment Redefined By New Affluents

Neelam Batra - 26-Jul-2013
With rapid advancement in India’s economical status, a new breed of luxury consumers has also come into existence. This is a segment of consumers who are heavily influenced from global lifestyle and beliefs and demand for the same standards while buying homes and various other things in India.

Consumer Friendly Real Estate Bill to be Introduced in Monsoon Session

Mahboob Alam - 25-Jul-2013
The Real Estate Regulatory bill that seeks to bring transparency and accountability towards consumers in the real estate sector will be introduced in the monsoon session of the parliament. The monsoon session of the Parliament is expected to start from 5th August, as stated in a report by Times of India.

National: Recession-struck realty developers use social media to pitch home buyers

Mahboob Alam - 19-Jul-2013
Slowdown in the market has led real estate developers find an alternative and cost-effective marketing tool -''Social Media'' to pitch home buyers and investors.

National: Women will get share in husband's ancestral property

Preeti Aggarwal - 18-Jul-2013
As per the legislation cleared by the Union Cabinet, now women will also have right on her husband's ancestral property on divorce. Quantum of the share will be decided by the judge to whom the divorce case will be taken.

Noida: E-stamping facility started in Gautam Buddh Nagar

Raina Bhowal - 15-Jul-2013
In order to make payment of registration fee in property transactions more transparent, Electronic stamping (E-stamping) facility has been introduced in Gautam Buddh Nagar district of Ghaziabad.

NCR Delhi: Three new areas enter NCR

Vishnu Swaroop - 13-Jul-2013
List of 16 districts of three states which form National Capital Region (NCR) of Delhi gets three new entrants - Bhiwani and Mahendragarh in Haryana and Bharatpur in Rajasthan.

Delhi: Repeal of Rent Act gets cabinet's approval

Mahboob Alam - 12-Jul-2013
With the Union Cabinet's approval to repeal Rent Act or Act of 1958, a new bill to regulate rent in Delhi is likely to be introduced soon in Parliament.

National: Donald Trumph Enters Indian Real Estate Market with Trump Towers Pune

Neelam Batra - 11-Jul-2013
Donald Trump – America's business magnate in real estate is going to enter Indian real estate market with his residential project in Pune. Donald announced that this project will have 22 storeyed residential twin towers with 44 luxurious single-floor condominiums.

National: Online real estate market expected to grow: Realty experts

Preeti Aggarwal - 10-Jul-2013
With more and more online portals entering realty market, the online business of real estate market is anticipated to grow at a CAGR of 50 to 100 percent which is around Rs. 250 Cr. at present.

National: Realty regulatory bill is expected in monsoon session

Mahboob Alam - 08-Jul-2013
The much awaited real estate regulatory bill is expected to be introduced in this monsoon session of Parliament, which is anticipated to start at the end of this month. It has been claimed that this regulatory bill will be a boon for realty investors for it will make real estate market more transparent and reliable.

NCR Delhi: Wave Infratech ties up with SBI for financing Wave City

Neelam Batra - 05-Jul-2013
Wave Infratech has tied up with State Bank of India (SBI) to fund its biggest township Wave City in Ghaziabad. Spread over magnanimous 4500 acres, this is said to be one of the biggest townships in the country.

Delhi NCR: Five star hotels will soon offer branded residences

Preeti Aggarwal - 04-Jul-2013

Hotels in Delhi will soon offer branded residences in their complexes. Delhi government is planning to allow hotels to deal in apartments which will be a beneficial decision for both hotel owners and the developers.


Mumbai: Companies shift offices to new commercial hubs

Mahboob Alam - 03-Jul-2013
Companies in Mumbai have got more favorable suburbs for their offices and shift to these new commercial hubs. These emerging locations with affordable commercial real estate options include Lower Parel, Vikhroli, Andheri-Kurla belt, Mulund, Goregaon and Malad.

National: Tata Housing Wins NDTV Property Awards for Raisina Residency

Vishnu Swaroop - 02-Jul-2013
Tata Housing Development Company won the renowned NDTV Property Awards in the category of ‘Super luxury apartment project of the year’ for its iconic residential project Raisina Residency in Sector 59, Gurgaon.

National: Around 500 projects available on sale with attractive offers

Neelam Batra - 01-Jul-2013
Realty developers are offering attractive discount schemes and offers to lure property buyers and to cope up with the slowdown in real estate market. Sops offered range from a foreign trip to gold coins, free stamp duty, vehicles including Activa, Nano, Audi and many other such expensive gift vouchers.

National: Domestic realty better than International realty

Mahboob Alam - 28-Jun-2013
Real estate developers, who entered overseas market around 2006-07, have started giving it a second thought about their global expansion plans. Looking at the sluggish international real estate market, several domestic developers have changed their plans by either withdrawing from less profitable markets or by postponing their global plans.

Pune: ''Green Living''- A fast emerging concept

Vishnu Swaroop - 27-Jun-2013
India is now seeing a strong trend in smart and green homes, which have high levels of lifestyle quotients attached to them. For an increasing number of Indian home buyers, the focus of home buying has now shifted from functionality and fixed budgets, to lifestyle homes .

National: New RBI norms may boost low-cost housing

Preeti Aggarwal - 26-Jun-2013
Reserve Bank of India's (RBI) decision to relax norms on foreign loans for affordable housing may draw attention of more and more developers and boost low-cost housing in the country, stated industry experts.

Mumbai: Highest price appreciation to be witnessed

Vishnu swaroop - 25-06-2013
Navi Mumbai and Thane will witness highest price appreciation in residential real estate followed by Bangalore, according to a report prepared by Jones Lang LaSalle (JLL) in partnership with CII.

Delhi NCR: Ban on Groundwater Use Impacts Realty Development

Neelam Batra - 24-Jun-2013
After the National Green Tribunal put a check on extraction of groundwater for construction of projects, Noida and Greater Noida are also suffering from the water shortage as it happened with Cyber City in Gurgaon. Construction work on around 3000 housing units had to be stopped in Noida due to this order.

National: Eight Emerging Realty Investment Hotspots Named in JLL Report

Mahboob Alam - 21-Jun-2013
According to property advisory at Jones Lang LaSalle India (JLL), after prime business districts reaching a saturation point, there are eight new sub-markets which have emerged as hot realty investment destination in top seven cities in India.

National: Rentals Crash in Metros as India Inc Turns Economical

Vishnu Swaroop - 20-Jun-2013
In popular residential areas of metro cities including Mumbai, Delhi NCR and Bangalore, demand for rented homes has decreased by almost 50 percent with around 25 percent decline in rents.

Gurgaon: CHD Developers invests Rs. 150 Cr. in a commercial project

Neelam Batra - 19-Jun-2013
Reputed realty group CHD Developers announced about investment of Rs. 150 Cr. in a commercial project in Gurgaon. The project has been named 'CHD Sky One' which will be constructed on two acres land which company recently acquired on Dwarka Expressway.

National: Real estate developers focus on retirement homes

Preeti Aggarwal - 18-Jun-2013
Retirement housing is the recent trend in Indian real estate market. Though this is a bit different from usual real estate projects, various realty developers are ready with their projects to cash in on this new segment.

NCR Delhi: New MPD-2021 brings great opportunity for investors

Mahboob Alam - 17-Jun-2013
Opening up of 26 villages for development is a great opportunity for real estate developers and investors. As per new draft Master Plan for Delhi-2021 new residential zone policy is anticipated to be notified soon by the Delhi Development Authority (DDA).

National: Realty Agents Turn Builders Due to Real Estate Boom

Neelam Batra - 14-Jun-2013
Many real estate agents are turning into builders due to the booming industry. Property brokers having huge savings are reaping the benefits of growing market by launching their own projects in cheaper localities.

NCR Delhi: Crossing Republik becomes a favored choice amongst investors

Vishnu Swaroop - 12-Jun-2013

Crossing Republik, which has integrated townships, affordable housing projects and mid-level multi-storey apartments, is a favorable destination among realty investors. Their are various factors behind that and first is saturation of space in different areas in Delhi including Indirapuram and Vasundhara and second reason is good returns.

Bangalore: Positive trends witnessed by Bangalore residential sector

Preeti Aggarwal - 10-Jun-2013
Bangalore residential market is gaining momentum due to interest rates reduction by the new government. Real estate market has seen good escalation in bookings in last few weeks which is being driven by mid-level business owners.

National: New regulatory bill should cover all stakeholders: CREDAI

Mahboob Alam - 07-Jun-2013
Commenting on the realty regulatory bill, The Confederation of Real Estate Developers’ Associations of India (CREDAI) said that besides developers community, authorities responsible for giving approvals for projects should also be covered by this bill.

Mumbai: Salt pan lands in Mumbai can be real estate boom

Neelam Batra - 06-Jun-2013
Private developers in Mumbai can soon be benefited from city’s salt pan lands which can be next real estate boom. There is around 5500 acres of salt pans in eastern and western suburbs which can be utilized for real estate purposes.

National: Real estate regulation bill gets approval from Union Cabinet

Vishnu Swaroop - 05-Jun-2013
The Real Estate Regulation and Development Bill, finally got approval from Union Cabinet. Ajay Maken, Union Minister of Housing and Urban Poverty Alleviation had been trying to get the cabinet's nod on regulatory bill. Cabinet pondered over the bill on 2nd April, decision couldn't be taken due to some differences.

Mumbai: Ambernath-Badlapur still have affordable housing options

Preeti Aggarwal - 04-Jun-2013
Property prices in most of the areas in Mumbai are increasing rapidly, but still there are some areas where property buyers can find affordable housing options and the Ambernath-Badlapur stretch is one such area.

National: Property sellers without PAN to bear 20% TDS

Gaurav Gupta - 3-Jun-2013
In order to put a check on sale of immovable properties without disclosure of permanent account number ( PAN), the government has come up with a new rule.

National: Further rate cuts expected after credit policy review

Neelam Batra - 31-May-2013
Looking at the present economic conditions, it is anticipated that Reserve Bank of India (RBI) may further cut key rates after mid-quarter review of the Credit Policy, which has been scheduled for 17th June. There are hopes that falling inflation rate will have positive impact on the key interest rates and after review the ruling bank will cut key rates to revive the economy.

Noida: Proposal to increase FAR along Noida metro route gets approval

Preeti Aggarwal - 29-May-2013
A proposal to increase Floor Area Ratio (FAR) along the proposed Noida Metro corridor has been approved by the boards of two authorities. Looking at the projected increase in population density, the authorities decided to increase FAR by 0.5 percent which is now 3.5 from 2.75 earlier.

Noida: Buying land in Noida gets costlier

Mahboob Alam - 28-May-2013
Prices of real estate properties including land and houses in Noida, Greater Noida and along the Yamuna Expressway have gone up. This is the effect of an announcement made at a board meeting on May 27, according to which allotment prices across all categories of land have been increased.

NCR Delhi: Government plans to ease land norms under Section 81

Vishnu Swaroop - 27-May-2013
Delhi government is planning to ease agriculture land norms under Section 81 of the Land Reforms Act. After regularizing numerous unauthorized colonies, the government has come up with this new plan to help thousands of Delhiites.

Noida: Gaursons acquires 300 acres land in Noida from Jaypee Group

Neelam Batra - 24-May-2013
Real estate developer Gaursons announced that it has bought around 300 acres land for Rs. 1,500 Cr. from another realty developer Jaypee Group. The company has acquired the land to develop an integrated township on Yamuna Expressway in Greater Noida.

National: Mumbai is expected to beat NCR in office properties

Preeti Aggarwal - 23-May-2013
Beating National Capital Region (NCR), Central Mumbai has become India’s most attractive commercial realty investment destination. As per a report by global real estate consultant Knight Frank, it is expected that in next five years office properties in Mumbai will provide nearly 19% net annual returns with increase in prices by 63 percent and in rents by 47 percent.

National: Only carpet area to be recognized by realty regulatory bill

Mahmood Alam - 06-May-2013
A top government official stated that, as per the specifications in the proposed Real Estate Regulation and Development Bill, realty developers will now be able to get clearances on building plans on the basis of carpet area only.

National: Realtors welcome rate cuts with expectations of further reduction

Vishnu Swaroop - 04-May-2013
Real estate agents welcome the Reserve Bank of India's (RBI) decision of reduction in key policy rates by 0.25 percent. Experts opine that this should further be brought down, so that builders and home buyers can be benefited from decreased interest cost.

Noida: Supertech joins hands with Disney

Neelam Batra - 26-Apr-2013
Noticig the growing demand of interiors and exteriors on Disney themes, reputed real estate developer the Supertech has joined hands with Disney India for interior designing of its 7.5 acre housing project ‘Fable Castle’ on Yamuna Expressway.

NCR Delhi: Plot owners need to comply with new greens standards

Preeti Aggarwal - 21-Apr-2013
Soon plot owners with plots of more than 3000 square metre will have to comply with a list of mandatory provisions proposed in Master Plan 2011. In order to start construction on plots, builders need to ensure that these have all the required environment-friendly features in place.

Gurgaon: Builders asked to transfer maintenance responsibilities to RWA

Mahboob Alam - 12-Apr-2013
To implement the letter of the law as per the Haryana Apartment Ownership Act 1983, the authorities at The Department of Town and Country Planning (DTCP) have directed nearly 35 builders to transfer the responsibility of the maintenance of apartment complexes to respective Residents’ Welfare Associations (RWAs).

Gurgaon: Now sell industry plots without HUDA or HSIIDC NOC, rules SC

Garima Goswamy - 12-Apr-2013
Owners of industrial plots are quite happy following the verdict given by the judiciary of the Supreme Court pertaining to the procedures of selling or leasing out industrial plots. As per the ruling, there is no need to acquire a No Objection Certificate (NOC) from Haryana Urban Development Authority (HUDA) or Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) to conduct such real estate transactions.

Mumbai: Indiabulls gets environmental clearance for modified plans for Indiabulls Blu, Worli

Preeti Aggarwal - 09-Apr-2013
Indiabulls Real Estate Ltd. has got clearance from environment ministry of Maharashtra for its mixed development project ‘Indiabulls Blu’ at Worli. The group acquired the clearance after amending its plan considerably.

Gurgaon: ATS Almond to be launched soon

Garima Goswamy - 05-Apr-2013
The reputed real estate developer, ATS Group, is coming up with a new residential project which is named Almond. It is referred within real estate circles as ‘ATS Almond.’

National: Property trends in the last quarter

Gaurav Gupta - 04-Apr-2013
As monetary transactions done with respect to property deals involve a significant sum of one’s income, it becomes extremely necessary to be aware. Knowledge of the market price, market trend, etc., is extremely important.

Gurgaon: Revised circle rates

Preeti Aggarwal - 03-Apr-2013
The term ‘circle rate’ refers to the minimum value of a given piece of land parcel. The area of land for which a particular value is assigned is encircled by the administrative government authorities across different states.

National Capital Region: Low property prices in South Delhi, Gurgaon still a better option

Neelam Batra - 01-Apr-2013
While property prices in the real estate market have depreciated, the downfall has affected sale of property in prominent regions in Delhi including Greater Kailash, Saket, etc. This is particularly due to a number of unsold builder floors, availability of good residential options in Gurgaon and Noida and the economic downturn. It an unprecedented chain of events, some builders are willing to sell property at discounted rates in prominent areas in South Delhi including Panchsheel Enclave, Saket, Greater Kailash I and Greater Kailash II.

Gurgaon: Government drafts Affordable Housing Policy 2013

Vishnu Swaroop - 26-Mar-2013
Since 18 March this year, the Department of Town and Country Planning-Haryana has uploaded on its official website a draft for affordable housing policy 2013.

National: India’s real estate investment market ranked 20th world over

Preeti Aggarwal - 26-Mar-2013
As per a report by Cushman & Wakefield, a global real estate consultancy, India ranked 20th in the world real estate investment market with a total investment volume of approximately $3.4 billion in 2012.

Mumbai: CREDAI members to present property options at Doha exhibition

Mahboob Alam - 26-Mar-2013
The Indian property show which is to take place from March 29 to March 30 this year will have a special platform for members of Confederation of Real Estate Developers’ Association of India (CREDAI)- Maharasthra to present property options in Doha.

National: Builders soon to follow new ECB Code

Atul Kumar Singh - 26-March-2013
The new Energy Conservation Building (ECB) code is expected to be implemented from the first week of April. As per the new code, all multi-storeyed apartments will be rated including commercial buildings, residential apartments, municipal buildings, industries, etc.

National: Special offers for NRIs by Indiabulls and Doha Bank

Gaurav Gupta - 22-Mar-2013

Indiabulls Real Estate has collaborated with Doha bank to offer Non Resident Indians (NRIs) clients special realty offers.

National: Builders made sales by offering discounts

Neelam Batra - 22-Mar-2013
With few launches, high property prices and a lot of unsold inventories, some builders have adopted a strategy of availing discounts and reducing the sizes of apartments on offer

National: HCC Real estates sells land parcels in multiple places

Vishnu Swaroop - 19-Mar-2013
HCC Real Estate Limited, the real estate branch of Hindustan Construction Co. Ltd. plans to sell land parcels about 40 acres of land in Pune, nearly 28 acres of land parcel in Thane and around 55 acres of land in Nashik.

National: Average Bangalore flat larger than average flat in Mumbai and NCR

Atul Kumar Singh - 19-Mar-2013
Data procured by a global consultancy firm, L J Hooker helped to calculate the average size of an apartment across different Indian cities. It is noteworthy that in Bangalore, the average apartment size is nearly 1750 square feet.

Mumbai: Property sale of flats gets engineer arrested

Balaji - 18-Mar-2013
After a complaint was filed by Altaf Lakhdawala of Adorable construction company in the LT Marg Police station, a civil engineer employed in the company, Hizbur Rahman Ansari was arrested on the charges of forgery, breach of trust and cheating.

Mumbai: Builder penalized for not handing possession of flats

Mahboob Alam - 18-Mar-2013
The Maharashtra State Consumer Disputes Redressal Forum ordered the builder who had proposed the development of Paranjape Nagar to pay a total amount of Rs 1.97 Cr. to complaints as compensation.

National: I-T passes tribunal order to curb ‘cash’ property deals

Gaurav Gupta - 18-Mar-2013
As per a tribunal order issued by the Income Tax Department, dated 7 July 2010, sale of similar flats in a building at drastically varied property rates are indicative of an underhand cash deal.

National: I-T amendments impacts property sales and property gifts

Garima Goswamy - 18-Mar-2013
As per amendments to Section 56 of the Income Tax Act, which were made by the Union Finance Minister P Chidambaram, if a property is undervalued at say, Rs 80 lakh while the Ready Reckoner (RR) property rate for the same is Rs 1 Cr., then the buyer will have to pay 30 percent income tax on the difference

NCR Delhi: Affordable housing project by Wave Group

Preeti Aggarwal - 16-Mar-2013
Recognized realty developer Wave Group made an announcement of its affordable housing project in Ghaziabad. The group has plans to invest around Rs. 500 Cr. in this project.

Gurgaon: MCG offers rebate on property

Neelam Batra - 14-Mar-2013
In a meeting which took place on 13 March, the Municipal Corporation of Gurgaon decided to give rebate on property tax to owners of plots.

National: Ansal API records property sale of Rs 2,361 Cr.

Gaurav Gupta - 13-Mar-2013
As reported in The Economic Times, Ansal Properties and Infrastructure (Ansal API), a reputed real estate developer recorded property sale of worth Rs. 2,361 Cr. in last 11 months.

National: Chain of Johnny Rockets food franchise in India

Vishnu Swaroop - 12-Mar-2013
Prime Gourmet Private Limited has acquired a contract to help open a chain of Johnny Rockets' chain of food franchise, as per a franchise agreement. The announcement of the same was recently made by representatives of Johnny Rockets to news channels.

Mumbai: Luxury real estate in Dubai cheaper than Mumbai realty

Atul Kumar Singh - 12-Mar-2013
As per a report by Knight Frank, a global property company, property prices of luxurious real estate projects are way more cheaper than property rates of places like Monaco and Mumbai.

National: Luxury isn't priceless nor cheap

Preeti Aggarwal - 11-Mar-2013
Cities with some of the costliest addresses in India include Mumbai, Delhi and Kolkata. Localities that witness the highest property prices are Luytens Delhi, Altamount Road, Cuffe Parade and Malabar Hills in Mumbai and Alipore in South Kolkata.

Mumbai: E-payment of property duty gets approval

Neelam Batra - 08-Mar-2013
Soon the property buyers will be able to pay stamp duty for property transactions without wasting time in visiting multiple offices.

National: Government initiates to control flipping in realty market

Atul Kumar Singh - 05-Mar-2013
Indian Government has taken an initiative to deter speculators from real estate market and limit the housing supply in luxury segment of real estate. Steps taken towards this end include a one -percent Tax Deducted at Source (TDS) on property transactions, which cost above Rs. 50 lakh from June 1, 2013, considering the ready reckoner prices or stamp duty the base value for transactions than the agreement value and reduction on the percentage of service tax abatement of flats where the carpet area is equal to or more than 2000 square feet.

National: Additional Rs. 1lakh deduction on home loans

Preeti Aggarwal - 02-Mar-2013
Budget 2013 has given middle-class home buyers a good reason to cheer. As per the announcement made by P. Chidambaram, the Finance Minister, any person who applies for a loan of up to Rs. 25Lakh for first home will get an additional tax deduction on interest of up to Rs. 1Lakh.

Mumbai: Realty market improves

Vishnu Swaroop - 27-Feb-2013
In Mumbai and its suburbs, around 26% rise in sales has been recorded as compared to registrations in December 2012. In last one year, property sales in Mumbai were lower than other cities such as National Capital Region(NCR) and Bangalore. - See more at: http://www.favista.com/cms/blogs/2013/02/27/mumbai-realty-market-improves#sthash.CNXBZhz5.dpuf

Gurgaon: HUDA gets Rs 605 Crore

Garima Goswamy - 23- Feb-2013
The Haryana Urban Development Authority (HUDA) has received nearly Rs605 Crore while the requisite amount for the development of HUDA sectors is approximately Rs 890 Crore.

Indian Property Show at Dubai

Gaurav Gupta - 23- Feb-2013
Nearly 50 players from the real estate sector of India will participate in an Indian Property Show to be held at Doha in Dubai from March 29-30.

Gurgaon: TCP posts amended real estate bill

Atul Kumar Singh - 20-Feb-2013
A tentative draft of The Haryana Real Estate (Regulation and Development Bill) 2013 has been posted on the website of the Development of Town and Country Planning – Haryana: http://tcpharyana.gov.in.

Mumbai: L&T sold 300 flats in 3 days in Emerald Isle, Powai

Neelam Batra - 18-Feb-2013
Larson and Toubro (L&T) Realty’s much awaited residential project Emerald Isle in Powai recorded sale of 300 flats in three days. This residential project which was earlier open to just company employees, was opened to public on 31st January, 2013.

Gurgaon: New residential project Pareena Express Heights on Dwarka Expressway

Vishnu Swaroop - 18-Feb-2013
Real estate group Pareena Infrastructure recently launched its new residential project Pareena Express Hieghts on Dwarka Expressway. Located in Sector 99, Gurgaon, this project will have on offer luxury and semi luxury apartments.

Mumbai: Morgan Stanley may lease office space in BKC

Preeti Aggarwal - 13-Feb-2013
Morgan Stanley Real Estate Investment (MSREI) plans to invest in a commercial project in Mumbai. It aims at building nearly 1.6 million square feet office space in Bandra Kurla Complex (BKC).

National: Developers seek favorable government policies

Preeti Aggarwal - 11-Feb-2013
P. Chidambaram, the finance minister of India is likely to present a proposal during the budget session in the Parliament on February 28. Real estate developers in India are hopeful that the budget provisions might bring some positive changes in real estate sector by decreasing cost of finance for the realty sector.

Gurgaon: Government to propose regulatory authority for real estate

Neelam Batra - 07- Feb-2013
In the budget session which is likely to be held on February 22, the Haryana government plans to discuss a bill which has proposed the constitution of a regulatory authority for the real estate sector.

National: DLF plans to raise funds by selling shares to institutional buyers

Vishnu Swaroop - 05-Feb-2013
Indian real estate conglomerate DLF plans to raise around Rs. 2,100 Cr. by selling about 8.1 Cr. shares to competent institutional buyers who are also called institutional placement programme (IPP). This is anticipated to take place by April.

Mumbai: Mukesh Ambani plans to launch township in Navi Mumbai

Atul Kumar Singh - 01-Feb-2013
Mukesh Ambani and his close friend Anand Jain have planned to launch a residential townships in Navi Mumbai in next four months. They boast it to be one of the biggest in this region.

National: New Markets open for Hiranandani brothers

Mahboob Alam - 31- Jan-2013
The reputed Hiranandani Construction Pvt. Ltd. with a strong real estate footing in Mumbai looks to explore new territories with the two Hiranandani brothers, the elder sibling Niranjan Hiranandani who is the Co-founder and Managing Director of the Hiranandani Group and his younger brother Surendra Hiranandani. While Hiranandani senior has invested in land in Pune and Ahmedabad while Hiranandani Junior, who is the founder and managing director of his own firm, the House of Hiranandani (HOH) is prepared to launch his first redevelopment project in Mumbai. HOH which primarily has a strong bearing in Bangalore and Chennai has a number of new launches in its pipeline. This includes a high end residential project in Bangalore and additional phases to existing projects in Chennai.

Bangalore: Within a fortnight, 100 units of New Haven sold

Neelam Batra - 31- Jan-2013
As per The Economic Times, representatives of Tata Housing‘s subsidiary namely Smart Value Homes Limited (SVHL) announced the sale of 100 property units after a fortnight of the launch of its latest project, New Haven in Bangalore.

Mumbai: RBI’s step is good for business: developers

Gaurav Gupta - 30- Jan-2013
As soon as it was announced that as per the directive of representatives of the Reserve Bank of India, there would be a reduction of the repo rate by 25 basic points, several developers shared their optimism about this measure favouring sales of real estate developments. This is because it would now become easier for investors to take less expensive home loans.

Gurgaon: DLF to launch new projects soon

Vishnu Swaroop - 30- Jan-2013
As per an interview which was published in Money Control, Ashok Tyagi, CFO – DLF has confirmed that the realty giant plans to launch a number of projects in the New Gurgaon Region as well as Phase V of the Golf Course region. This is considering that demand of projects in these regions is high. The developer’s last launch in Gurgaon, namely DLF Sky Court was rather well received.

National: Scheme supporting affordable housing might be approved soon

Atul Kumar Singh - 30-Jan-2013
As per Rajiv Rin Yojna up to 5% interest subsidy will be set aside for affordable housing loan. This scheme is anticipated to get approval by February end.

Gurgaon: Haryana issues guidelines regarding sale, purchase of property

Mahboob Alam - 29-Jan-2013
The Haryana Revenue and Disaster Management Department issued guidelines regarding purchase and sale of property in unofficial colonies.

Mumbai: Sale of property to redeem funds

Neelam Batra - 29- Jan-2013
Following the footsteps of Dlf, real Estate giant, GOL Offshore, an offshore oilfield service, plans to redeem as much as Rs 200 Crore Foreign Currency Convertible Bonds (FCCBs). The latter are due in April 2013.

Mumbai: Blue Moon by Lodha – a success story for Mumbai Real Estate

Garima Goswamy - 29- Jan-2013
As per a representative of Lodha Group, the developer has received nearly 1300 applications from prospective investors for its project Blue Moon. As per an official statement by the representative, “We sold over 1,300 applications for the Blue Moon residential project at Worli in central part of the city, representing a sale value of nearly Rs 6,000 crore.”

National: Indian real estate market expects $4-5 billion foreign inflows: Jones Lang LaSalle

Preeti Aggarwal - 29- Jan-2013
Jones Lang LaSalle, global real estate consultancy giant, analyzed that in the next few years Indian real estate market is expected to get investment of around $ 4-5 billion from overseas investors. Though the experience of early foreign investors who invested in 2006-07 was not good, for many reasons, looking at the robust economic growth rate of the country, investors find Indian realty sector a good investment option.

Mumbai: Correction in property prices by around 1%

Vishnu Swaroop - 28- Jan-2013
Real estate experts anticipate good news for home buyers. According to survey report of Liases Foras, a real estate firm, in last quarter residential property prices in Mumbai and its suburbs have gone down by around 1%. The prominent areas where prices have gone down include Navi Mumbai’s Palm beach road and metro region South Mumbai. These are areas which have reached saturation points in terms of prices of residential property. In comparison, other metro cities such as Bangalore, National Capital Region, Chennai etc. have shown reverse trend.

Noida: Industrial growth anticipation in Noida and Greater Noida

Gaurav Gupta - 28-Jan-2013
Akhilesh Yadav, Uttar Pradesh Chief Minister, contented about the changes in investment scenario in the state during his speech at the Confederation of Indian Industry (CII) Partnership Summit 2013.

National: India all set to host first-of-its-kind luxury real estate show

Atul Kumar Singh - 25-Jan-2013
India is all set to host the first-of-its-kind Real Estate Luxury Show named RLS India 2013. Starting on March 9, it will take place at Four Seasons, Mumbai.

Nodia: Development of 12,000 affordable homes on Greater Noida and Yamuna Expressway

Neelam Batra - 25-Jan-2013
Authorities sanctioned a layout plan for development of 12,000 flats on Greater Nodia and Yamuna expressway to promote affordable housing.

Mumbai: Office realty analysis and forecast for this year

Preeti Aggarwal - 25-Jan-2013
Office absorption trends in the year 2012 were not very satisfactory, which was around 6.8 million square feet as compare to 9.8 million square feet in 2011. Sector which supported the demand of office space were basically Pharma and Media.

NCR: IIFL Realty invests in Faridabad after Gurgaon and Mumbai

Vishnu Swaroop - 24-Jan-2013
IIFL Realty, invested Rs. 75 Cr. out of a total fund of Rs 700 Cr. from IIFL Domestic Series 1 for a developmental project of plots in Faridabad to be developed by Assotech Ltd.

National: Indiabulls Real Estate profits stand out

Mahboob Alam - 24-Jan-2013
In the last quarter of 2012, Indiabulls Real Estate Limited has done really well with a total sales of Rs 1201 Crores. Times of India have quoted some figures with respect to the company’s sales.

Gurgaon: Carlson Rezidor plans a chain of hotels, to begin with Gurgaon

Gaurav Gupta - 24-Jan-2013
Carlson Rezidor, an Internatioanal hospitality major, plans to establish nearly 44 new properties across India by the end of 2015.

Mumbai: Panwel and Ulwe anticipated to be hot property investment destinations in Navi Mumbai

Atul Kumar Singh - 23-Jan-2013
The proposed Navi Mumbai International Airport at Kopra-Panvel area has made Panvel, Kharghar, Ulwe and Kalamboli some of the most promising property investment destinations in Navi Mumbai.

Delhi/NCR: Delhi housing goes vertical with triple floor area ratio

Neelam Batra - 23-Jan-2013
By tripling the Floor Aria Ratio (FAR) from 200 to 600, Delhi Development Authority (DDA) may go vertical. As per the government officials this is done to cope with increasing housing shortage in the city.

Bangalore: Land Prices to rise in tier II cities

Vishnu Swaroop - 22-Jan-2013
Property prices in tier II cities around Karnataka have augmented by ten-times over the past few years. This is due to increased interest of developers and end users in properties in secondary cities.

National: Housing ministry suggestions favour affordable housing

Mahboob Alam - 22-Jan-2013
A correspondent from The Economic Times recently interviewed a senior official of the housing ministry. As per this official, the housing ministry has asked for an year’s extension to avail the benefit of Tax exemption under Section 80 IB (10) of the Income Tax Act 1961 exclusively for developers of affordable housing projects.

Gurgaon: FIR lodged against builder

Atul Kumar Singh - 21-Jan-2013

Hindustan Times reported that the Gurgaon police have filed the First Investigation Report (FIR) against two officials of Pal Infrastructure Pvt. Ltd.

Mumbai: Piramal Enterprises to invest Rs 250 Cr in two projects

Garima Goswamy - 21-Jan-2013
As per Economic Times, the Indiareit Fund Advisors, Piramal Enterprises’ real estate private equity branch plans to invest as much as Rs 250 Crore in two projects in the next month.

NEFOMA wants implementation of UP Apartment Act 2010

Gaurav Gupta - 21-Jan-2013
On 20 January, the Noida Extension Flat Owners and Members’ Association (NEFOMA) held a meeting discussed their concerns regarding the lack of regulation in the real estate sector. The association demands quick implementation of the Uttar Padesh (Promotion of Construction, Ownership and Maintenance) Rules 2010.

National: Plans to establish Land Authority of India to monetize unused land

Preeti Aggarwal - 19-Jan-2013
The government has proposed a plan to establish a Land Authority of India in order to monetize unused government land. The Land Authority of India will take over the unused and underutilized land. It is anticipated that monetization of the land will fetch approximately Rs. 1 lakh crore.

Delhi/NCR: Stable office demand anticipated in 2013

Atul Kumar Singh - 19-Jan-2013
Demand of office space in Delhi is anticipated to be stable for 2013. Though there will be improvements in retail demand, commercial buyers shifted attention to more cost effective options. Cautious approach of buyers will bring stability in office demand.

Gurgaon: Residents Welfare Associations to handle admin work

Neelam Batra - 18-Jan-2013
The Department of Town and Country Planning (DTCP) directed real estate developers to transfer administration work to All Residents Welfare Associations (RWA). The latest instructions are given to save the interest and rights of home buyers.

National: Housing policy improvement required in India

Vishnu Swaroop - 18-Jan-2013
According to the Confederation of Real Estate Developers Association of India (CREDAI) housing policy of India should be improved for real estate development in the country.

Mumbai: Maharashtra government proposes new laws to regulate real estate

Mahboob Alam - 18-Jan-2013
In order to guard interest of home buyers from covetousness of real estate developers, the state and central government proposes new realty laws. Doubting the success of the new rules, consumer activists comment that existing laws are good enough to protect interest of buyers. They just needed to be implemented properly.

National: Real Estate Regulatory Authority Bill Likely to be Introduced in Budget Session

Preeti Aggarwal - 17-Jan-2013
The government proposed a Real Estate Regulatory Authority Bill that compels builders to sell the property on the bases of carpet area instead of using some ambiguous terms such as “super built-up” area. The bill is likely to be launched in Budget session of the Parliament.

Mumbai: Property buyers can now get property registration documents online

Atul Kumar Singh - 17-Jan-2013
Property buyers now don’t need to visit registration offices to get property documents and to get hard copies of transactions. They can now save their precious time with free downloading of property registration documents.

National: India Ratings Revises Real Estate Sector Outlook to Negative-to-Stable

Neelam Batra - 17-Jan-2013
India Ratings revised realty sector outlook to negative-to-stable for 2013 from negative in 2012. On Wednesday India Ratings & Research announced that signs of stability are noticed. Demand is still muted with low EBITDA margins, causing weak credit metrics for real estate companies.

National: Will homes be affordable with pre-launch payment schemes?

Vishnu Swaroop - 16-Jan-2013
Following improvements in Indian economic environment, Indian realty market is expected to get better in second half of 2013. According to experts this improvement can be there only if developers offer pre-launch benefits and offer adequate number of amenities, if not many.

Mumbai: First Price cuts are rolled out

Gaurav Gupta - 16-Jan-2013
Mumbai real estate industry announced first price cut after holding on to high prices for four years. Some of the top builders have cut prices by around Rs, 2,250 to Rs. 5,000 while some have introduced flexible pricing policy for single project. Though, all the builders have not bring down their prices, they are now ready to at least negotiate with buyers.

Mumbai: Industrial policy helps unlock land for housing projects in Thane-Navi Mumbai

Gaurav Gupta - 16-Jan-2013
As per official data, the state government is expected to unlock nearly 8,000 acres of land in Thane-Navi Mumbai area as per a new industrial policy for housing projects. From a total of 124 special economic zones cross the state, corporate firms are required to unlock 40% of their land. This will amount to nearly 35,000 acres in Mumbai.

Mumbai: Hotel rates revise in South Mumbai as demand for hotels increase in North Mumbai

Garima Goswamy - 15- Jan-2013
According to a report by the Federation of Hotels and Restaurant Association of India (FHRAI), a sharp fall in the requirement for hotel room at night has decreased in South and Central Mumbai as a number of corporates have shifted their operations in the new age Bandra Kurla Complex and other novel commercial spaces in Andheri.Moreover, the supply of new hotel rooms have increased in the Northern part of Mumbai.

National: Demand for serviced and virtual spaces prompt Imperial Servcorp to expand

Atul Kumar Singh - 15-Jan-2013
Plans of expansion of serviced office spaces for Small and Medium Enterprises (SMEs) in cities including Gurgaon, Pune and Bangalore are been made by Imperial Servcorp. Established in 1997, this company is a collaboration of India’s K Raheja Corp the Australian multinational Serve Corp. Packages of serviced and virtual office spaces are being offered at Bandra Kurla Complex in Mumbai and Mind Space in Hyderabad.

National: State give priority for environmental clearance for green projects

Preeti Aggarwal - 15-Jan-2013
Gone are the times when Green projects used to only sold only due to location specificity only. Now, as the contemporary urban Indian has become conscientious of one's health as well as sensitive to the issues of environmental importance, several developers are banking on the concept of green buildings to sell its projects.

Mumbai: Good news for real estate sector in India

Mahboob Alam - 14- Jan-2013
Faster approvals of real estate projects may augment sales this year. As per financial forecasts of six brokerages, real estate companies are expected to see about 14% sales appreciation and a 16% hike in net profit by the third quarter of 2013.

NOIDA: Water requirement might increase property rates

Neelam Batra - 14- Jan-2013
In light of the restriction of ground water supply in Noida and Greater Noida, increase in the time of construction or an increased property prices is anticipated in the near future.

Gurgaon: Several FIRs lodged against fraudster in multiple cases of property fraud

Gaurav Gupta - 14- Jan-2013
On 11 January two cases were filed by the Gurgaon police against Nirmal Vijay, a resident of Sushant Lok, Gurgaon to dupe two persons of Rs 1 Crore for selling them both the same plot in Pioneer Park. He also cheated four more people off Rs. 3 Crore 30 Lakh.

Gurgaon: Digitalisation of land records to check cases of property fraud

Vishnu Swaroop - 12-Jan-2013
For the first time, details regarding land in Gurgaon can be verified online on www.jamabandi.nic.in. As per media reports, there is an ongoing process of computarization under which PC Meena, the Deputy Commissioner plans to integrate the Haryana Registration Information System (HARIS) and the Haryana Land Record Information System (HALRIS) by March 31, 2013.

Noida: Authorities meet to plan further development

Vishnu Swaroop - 12- Jan-2013
On 11 Jan, in a joint board meeting of the authorities of Noida, Greater Noida and Yamuna Expressway several development projects got approved.

Gurgaon: Information about property tax with revised circle rates

Preeti Aggarwal - 11-Jan-2013
It will come as a relief to the residents of Gurgaon that the administrative body, Municipal Corporation of Gurgaon has decided to extend the deadline to pay property tax from 31 December 2012 to 30 June 2013.

Chennai: SARE Homes and ICICI offer special schemes

Atul Kumar Singh - 11-Jan-2013
Recently, SARE Homes has signed a Memodandum of Understanding (MoU) with ICICI Bank. As per this MoU, a special scheme is being offered to homeseekers and investors with respect to two of SARE Home’s upcoming projects, namely SARE Crescent ParC, a 112 acres township on the Old Mahabalipuram Road in Chennai and SARE MeadowVille, a serene residential setup at Kolathur GST, Chennai.

Delhi/NCR: Sales graph grows in spite of gradual price rise

Vishnu Swaroop - 10-Jan-2013
Reduction in key policy rate and increased demand of property shows expectation of a noteworthy growth in sales. However, even if the price of the properties may grow by 10-15%, sales graph will still go up.

Mumbai: Properties on rent in high demand in Cuffe Parade

Garima Goswamy - 09 -Jan-2013
As per a report by a real estate brokerage firm, rentals in multiple storeyed apartments have gone up by 14% in areas like Cuffe Parade in Mumbai. Mostly buyers and tenants are urban professionals including businessmen, experts from the stock market,lawyers, bankers and professionals affiliated to other financial institutions.

Gurgaon: Retail spaces in Gurgaon, an alternative to South Delhi Markets

Mahboob Alam - 09 -Jan-2013

Due to high rental rates as well as scarcity of proper parking spaces, popular markets in South Delhi including Khan market or shops in Defence Colony are losing out on clientele. Bad drainage facility, lack of seating area in common spaces, unkempt parks in Defence Colony and Greater Kailash Part 1 Market, broken footpaths are all adding to consumers’ woos. In comparison, retail experience offered in Gurgaon malls, including Sahara Mall, Metropolis Mall, DLF DT City Centre Mall etc is deemed much more significant even for window shoppers due to central air conditioning, climate control systems, seating arrangements, complete power backup etc, let alone regular shoppers.

Decrease in new launches in 2012

Mahboob Alam - 09 -Jan-2013
As per a report by Knight Frank (India), in the previous years in the real estate market a 30 % decline of new launches was observed. One of the main reasons for such a decrease is being attributed to higher mortgage rates and lower bank credits. In 2010 and 2011, while the gap between the launch and absorption number of property units was 82,000 and 94,000, in the year 2012, it reduced to a mere 32,000 units.

Gurgaon: Sale of same property multiple times gets couple arrested

Neelam Batra - 09 -Jan-2013
As per media reports, recently a couple have been arrested for the case of property fraud. They allegedly tried to sell House No. 551 in Sector 45, Gurgaon to at least six persons. The fraud came to light following the complaint of Narender Kumar, a resident of Gadoli Kalan village, who had been duped off Rs 6.5 million.

National: Committee to plan faster approvals for real estate projects

Vishnu Swaroop - 08- Jan-2013
A committee led by Dharendra Kumar, the former Competition Commissioner of India is trying to get a procedure in place to speed up the process of getting the requisite approvals for real estate projects. The committee will assist in structuring policy guidelines which will be followed by all states.

Ghaziabad: GDA should favour high rise development

Atul Kumar Singh - 08-Jan-2013
In the National Capital Delhi, while the concept of high rise buildings is becoming popular in some areas like Noida and Gurgaon, places like Ghaziabad are lagging behind. In an interview to Amit Kumar from the Hindustan Times, R K Arora, Chairman and Managing Director (MD) of Supertech, conceded to the fact that the Ghaziabad Developing Authority does not have a policy for group housing which would be favourable for the development of high rise residential towers.

Delhi: Real estate prices to increase, transaction of 312 colonies on private land allowed

Mahboob Alam - 07-Jan-2013
The Lieutenant Governor’s office recently cleared a proposal according to which the revenue department of the Delhi Government will be able to carry out transaction of around 312 colonies built on private land.In 2008, the government had restricted sale and purchase of such land. Now that the proposal has been cleared, real estate prices are expected to rise in Delhi.

Mumbai: Lodha to allot high end apartments automatically by IPO

Garima Goswamy - 07-Jan-2013
With an initial public offer for buying premium apartments in its 17.5 acres project in Mumbai, the Lodha Group will be recognized the first private developer to initiate this kind of a draw for a high end residential project using an automated algorithm system.

Gurgaon: Around 1500 high-rises expected in 5 years

Preeti Aggarwal - 07- Jan-2013
With around 1.100 high-rise buildings in place and about 1,500 expected high-rises, Gurgaon has come into the list of Indian cities marking vertical growth. In next five years the millennium city is expected to have around 1,500 multi-storey buildings. In all likelihood, it will catch up with the vertical development as witnessed in Mumbai.

Navi Mumbai: Property Expo to start from Jan 11

Neelam Batra - 07- Jan-2013
The 13th Mega Property Expo will take place between Jan 11 to Jan 14 in Navi Mumbai. Here it is anticipated that approximately 125 developers will launch their projects here. Over 10 financial institutions will take part in this event. Promotion for the same has been done by the Builders’ Association of Navi Mumbai (BANM), organizers’ of the property show at a war footing.


Mumbai: HDFC to buy office space worth Rs 220 Cr in Lower Parel

Mahboob Alam - 05-Jan-2013
As per media reports, HDFC Bank is in talks with Alok Realtors to buy a gigantic office space of approximately 1,30,000 sq. ft. of commercial space on four floors of Peninsula Business Park which is set in Lower Parel, Mumbai. This deal might cost about Rs 220 Cr as the bank may have to pay Rs 17,000 per sq. ft.

Noida: Investors to profit from PG and hostel businesses

Atul Kumar Singh - 05-Jan-2013
With increasing rates of rental properties in Noida and Greater Noida due to an increase in the population of students and young working professionals, paying guest accommodation and hostel are becoming extremely popular.

Delhi: Colonies built on ASI protected land to be regularized

Vishnu Swaroop - 04-Jan-2013
Delhi government is ready with regularization plan on colonies built on ASI, forest and ridge area. According to the new policy around 48 colonies built on ASI land will be regularized. Around 80-90 colonies from a list a list of 197 colonies built on forest and ridge land will see first regularization.

Gurgaon: Court removes a road block in favour of Dwarka Expressway

Vishnu Swaroop - 02-Jan-2013
Recently, the Punjab and the Haryana High courts rejected the petition filed by an owner of a manufacturing unit of cosmetics whose land lay on the way of the proposed Dwarka Expressway.

Top 5 real estate deals in 2012

Garima Goswamy - 01 -Jan-2013
As per some reports, the Real Estate market did not fare as expected in the year 2012. However, some realty transactions made the year for real estate market quite lucrative. Some very expensive buys were made in the real estate sector in India in 2012.

Gurgaon: MCG plans to open a new CFC in New Gurgaon

Garima Goswamy - 01 -Jan-2013
The Municipal Corporation of Gurgaon (MCG) has announced its plans to open a new citizen facility centre in New Gurgaon. Towards this end, Vijay Singh Dahiya, the MCG Commissioner has written a letter to Praveen Kumar, an administrator of Haryana Urban Development Authority (HUDA). Dhaniya believes that any building which is not been used in the HUDA sectors will suffice for such a centre.

Mumbai: Reduction of property tax on offices in South Mumbai

Mahboob Alam - 31- Dec-2012
As the Brihanmumbai Municipal Corporation have revised the system to calculate property tax for offices from Colaba upto Mahim or Sion, people will pay relatively less amount of property tax. Previously the tax was calculated on the rateable value based system. Now it will be based on the capital value.

Mumbai: Developers postpone rental charges for office spaces

Mahmood Alam - 31- Dec-2012
With an attempt to ensure that commercial office spaces are occupied or remain occupied some developers are offering an option to tenants of commercial splaces not to pay rent till the lease expires in the previous place.

Gurgaon: Improvement of public transport in 2013

Vishnu Swaroop - 28-Dec-2012
Public transport facility in Gurgaon is going to see improvement as authorities plan to increase the percentage of bus routes from 12 to 30% by March 2013.

National: Real Estate Awards 2012 by CNBC Awaaz

Neelam Batra - 28 -Dec-2012
Over the past few years, CNBC Awaaz has taken the initiative to host Real Estate Awards. This year too, at the Real Estate Awards 2012, nearly 8000 projects were evaluated across 12 cities before a decision was made with respect to who achieved excellence this year in varied aspect of real estate.

Gurgaon: MCG ties with banks to assist residents to pay house tax

Neelam Batra - 28 -Dec-2012
In an attempt to make the process of payment of house tax more efficient and user friendly, the Municipal Corporation of Gurgaon has tied up with a few banks such as the Oriental Bank of Commerce.

Gurgaon: MCG plans to construct elevated corridor on sohna Road

Garima Goswamy - 27- Dec-2012
Sohna Road is going to see a new elevated corridor. The responsibility to construct this 2kms long flyover between Vatika City and Badshahpur Market is with the local civic body, the Municipal Corporation of Gurgaon (MCG). As per an official by Jan 11, 2013, MCG will select the company which will be expected to deliver the first feasibility report by Feb 15.

NOIDA: Link Road work to resume, farmers call off protests

Atul Kumar Singh - 26-Dec-2012
According to the Greater NOIDA Authority, the development of the right lane link Road to Noida is now unobstructed. This announcement was made after a meeting between the authority with a group of protesting farmers of Greater NOIDA (West).

Mumbai: HC rules in favour of Mahindra and Mahindra

Mahboob Alam - 26-Dec-2012
A petition was filed by Zenith Metaplast Pvt. Ltd. in a Bombay High Court. The company sought for the approval of being alloted a 3 acres plot in Nasik. Moreover, the petition also requested the cancellation of the alotment of adjacent plots, one covering 17 acres to Mahindra and Mahindra and the other covering six acres to a Nasik based industrialist Abhay Kulkarni. The court has taken a decision in the favour of Mahindra and Mahindra as well as the industrialist.

Mumbai: Godrej to redevelop a private society

Mahboob Alam - 26- Dec-2012
As per a notice on the Bombay Stock Exchange, Godrej Properties or more specifically, its wholly owned subsidiary called Godrej Projects Development Pvt. Ltd. (GDPL) has signed a development agreement to redevelop the Kamgar Swa Sadan Co-operative Housing Society on Curry Road, Mumbai. GDPL has entered into a partnership with Ratnaraj Blessing Milestone for the same.

Gurgaon: DLF Country and Golf Club wins an international award

Neelam Batra - 26- Dec-2012
At the Asian Golf Monthly Awards held recently at the Empire Hotel and Country Club in Brunei, DLF Golf Club and Country Club emerged as winners for these were awarded as the best course award in India.

Noida: ACC partners with Supertech

Neelam Batra - 21-Dec-2012
On 20 Dec 2012, the representatives from Supertech announced that the company had awarded a Rs 650 Cr contract to UAE’s Arabian Construction Company (ACC) to build a 80 floors iconic tower in Noida. Ani Ray, the Managing Director of ACC India, mentioned in media reports that this is the first standalone contract for the company.

Mumbai: Developers might legally sell parking spaces

Atul Kumar Singh - 20-Dec-2012
The proposed Maharashtra Housing (Regulation and Development) Bill includes some clauses regarding legalizing the sale of parking spaces. This entails that the total price of the flat shall include price of the limited common areas and facilities while parking space should be shown separately, to be paid by the flat’s owner.

NCR: DLF sells Aman Resorts for Rs 1600 Cr

Garima Goswamy - 20-Dec-2012
In order to reduce its longstanding debt, DLF Global Hospitality has decided to sell Aman Resorts for Rs1,600 Cr to Adrian Zecha, the Indonasian hotelier who is in-charge of Silverlink, the controlling entity of Aman Resorts.

Gurgaon: PepsiCo to consolidate its offices on Golf Course Extension Road

Gaurav Gupta - 18-Dec-2012
PepsiCo, food and beverage giant has leased out 1,50,000 sq. ft. office space in Golf Course Extension Road, Gurgaon. The company has five offices in Gurgaon spread over an area of 70, 000 sq. ft. and plans to move its workforce from these offices to a commercial complex which will be developed by Pioneer Urban in the coming two to three years.

National: Luxury residential projects in demand, revive Indian real estate market

Garima Goswamy - 17-Dec-2012
Despite financial and economic crises across the globe, the Indian residential market has been relatively stable. A contributing factor towards this end within residential sector has been luxury residential projects.

Haryana: Manesar an emerging industrial real estate hub

Gaurav Gupta - 17-Dec-2012
IMT Manesar has been projected as the epicenter for investors in Northern India. It is anticipate that this area will incur as much as Rs. 1,00,000 crore besides Rs 10,000 crores revenue to Haryana exchequer. Moreover, it is further anticipated that real estate development will help generate about 15 Lac skilled and unskilled jobs by the year 2020.

Mumbai: Lodha acquires Washington House in South Mumbai

Garima Goswamy - 17-Dec-2012
Having acquired the Washington House, a US Consulate building in Altamount Road within South Mumbai for about Rs 341.82 Cr, Lodha Group plans to build a nearly 30 storeys skyscraper offering residential apartments with a sea view. The project is anticipated to be launched in March 2013.

National: Land acquisition bill gets clearance by cabinet

Garima Goswamy - 15-Dec-2012
On 13 Dec 2012, the Land Acquisition Bull was cleared by the Cabinet of ministers. It makes it necessary to get consent of 80% of people for a private project to acquire a particular piece of land. With respect to Public-Private Partnership (PPP) there is a similar mandate but of 70%.

National: Indian Property Show at Dubai World Trade Centre

Gaurav Gupta - 15-Dec-2012
This week, starting from 13 Dec to 15 Dec 2012, the 11th Indian Property Show has been taking place in the Dubai World Trade Centre between 11:00AM and 8:00PM

National: Real estate market see a high due to residential sector

Garima Goswamy - 14-Dec-2012
There has been an increase in capital values in most micro markets with respect to residential real estate projects across major cities including Chennai, National Capital Region and Mumbai.

Gurgaon: MCG notices to residents regarding property tax

Garima Goswamy - 14-Dec-2012
Since the formulation of the Municipal Corporation of Gurgaon, residents living in self-occupied houses were exempted to pay property tax till 2010. However, residents who have rented out their accommodation(s) will have to pay property tax, from 2008-09 as well as for 2009-10. This exemption is not applicable for the year 2010-11. For this reason, notices have been sent by MCG to Gurgaon Residents.

Mumbai: Peddar Road flyover will ease traffic congestion

Garima Goswamy - 14-Dec-2012
Environmental clearance has been granted for the project of Peddar Road flyover from the Union Ministry of Environment and forests. This will bring relief from traffic congestion at Haji Ali. The flyover is proposed to be built between Lala Lajpatrai College and Wilson College in Mumbai.

National: Tata Housing to hold alternate grounds in Maldives

Garima Goswamy - 10-Dec-2012
As per the Times of India, Tata Housing is not going to move out of Maldives to undertake its real estate project. This speculation was made because there has been a conflict between the reputed Mumbai based real estate developer and the government of Maldives.

Gurgaon: Mumbai based Oberoi Realty plans projects in NCR

Garima Goswamy - 6-Dec-2012
Oberoi Realty has decided to follow the footsteps of other Mumbai based developers to set up real estate projects in the National Capital Delhi.

Gurgaon: TATA Primanti sold out in Phase II

Garima Goswamy - 6-Dec-2012
On 5 Dec 2012, it was reported that Tata Housing, a Mumbai based leading real estate development company, sold apartments in the Phase II of its project TATA Primanti in its entirety in just two days post its launch.

Mumbai: Government takes back 66 acres land from Jolly Brothers

Garima Goswamy - 4-Dec-2012
On 3 Dec 2012, the revenue department cancelled the allotment of a 66 acre plot which costs nearly Rs 3,000 Cr. near Kanjurmarg station from Jolly Brothers, a group of developers. This was done on account of violation of lease conditions and utilization of a property which was initially allotted for industrial purposes for residential purposes. The land was allotted in June 1995.

Gurgaon:Dwarka Expressway work to speed up, HUDA to allot land on Sec 110A

Garima Goswamy - 4-Dec-2012
With an attempt to speed up development of the Dwarka Expressway, the Haryana Urban Development Authority (HUDA) plans to allot alternative plots to residents whose houses are coming in the way of the road in Sector 110A, Gurgaon.

NOIDA: A convention centre to come up in Greater NOIDA

Garima Goswamy - 4-Dec-2012
On the lines of Delhi’s India Habitat Centre and Vigyan Bhawan, Greater NOIDA will have a mega convention facility on 25 acres of land in Knowledge Park II area, which is an education hub.

Noida: Supertech signs Mary Kom for setting a boxing academy

Garima Goswamy - 26-Nov-2012
Recently, a trend has caught on in real estate development of sports' personality endosing real estate projects. Homestead has signed up top tennis player Maria Sharapova to endorse one of its upcoming projects. The developer is also doing good after signing Micheal Schumacher for a premium project in Gurgaon.

National: Rajiv Awas Yogana, part of Real Estate Regulation Bill

Garima Goswamy - 7-Nov-2012
The Real Estate Regulation Bill 2012, pending since 2009 is likely to be discussed in the Winter session of the parliament. This was confirmed by Ajay Maken, Union Housing and Urban Poverty Alleviation Minister, at the inauguration of the 14th World Innovation Summit & Expo on Power & Construction in Mumbai.

National: CREDAI resents proposal for reservation for EWS

Garima Goswamy - 7-Nov-2012
The Confederation of Real Estate Developers’ Associations of India (CREDAI) expressed resentment amongst developers regarding a proposal made by Ajay Maken, the Union Minister for Housing and Poverty Alleviation.

National: Canadian NRI billionaire plans to be real estate developer

Garima Goswamy - 7-Nov-2012
Recently a Canada based Bob Dhillon, CEO of real estate firm Mainstreet Equity Corp, has announced that he is looking at Haryana and adjoining areas of Chandigarh for development of a township. Given the right circumstances, an investment of 25 to 100 USD shall be made.

Chennai: CREDAI seeks Govt approval for multiple level parking

Garima Goswamy - 7-Nov-2012
In a press conference held on 6 Nov, Sandeep Mehta, CREDAI President said that should the government approve for multiple level parking in apartments, such a step would relieve parking space pressure besides enhancing the architectural aesthetic in the city of Chennai.

Gurgaon: Mayor promises six lane roads

Garima Goswamy - 7-Nov-2012
On 5 November 2012, after inspecting a usually congested stretch, Vimal Yadav, Mayor promised to undertake some significant infrastructural changes.

National: Banks organize property exhibitions

Garima Goswamy - 4-Nov-2012
On 2 November 2012, MCHI-CREDAI’s 20th Real Estate and Housing Finance Exhibition was inaugurated by Jairam Sridharan, Senior VP and Head – Consumer Lending and Payments, Axis Bank and Sunil V. Shaligram, General Manager and Head – Project Finance and Technical Services HDFC Ltd at Mumbai Metropolitan Region Development Authority (MMRDA) Grounds in Bandra Kurla Complex, Mumbai.

National: Celebrate Diwali with auspicious property purchases

Garima Goswamy - 3-Nov-2012
Favista Real Estate has previewed several real estate opportunities that investors can opt for during this Diwali season.

National: Real Estate to expand India-Oman ties

Garima Goswamy - 3-Nov-2012
On 2 Nov 2012, at the Indian Ocean Rim Association for Regional Cooperation (IOR-ARC), New Delhi Amita Sarkar, a senior member of the Confederation of Indian Industry stated that there is a possibility to strengthen India-Oman ties via investments in the Indian real estate industry.

National: Railway to lease 3,700 acres to generate revenues.

Garima Goswamy - 2-Nov-2012
According to AK Gupta, member of Real Estate and Urban Planning, Rail Land Development Authority, as many as 52 cities have been identified where surplus land is available.

National: Reduce Human Interface in Real Estate Regulation Bill, says CREDAI

Garima Goswamy - 2-Nov-2012
Following up on the Draft of Real Estate Regulation Bill, Confederation of Real Estate Developers Associations of India (CREDAI) has suggested that human interface ought to be kept at the minimum for the process of granting clearances and registration. The concern is primarily because each level of human interface unfortunately adds to the possibility of paying money on account of the corrupt practices many government officials are infamous for in India.

NOIDA: To Promote Affordable Housing or High End Luxurious Living?

Garima Goswamy - 2-Nov-2012
So far, affordable housing options has been quite popular in NOIDA and Greater NOIDA area. However, it is believed that this might change as a number of developers have trying to create a market of high end residential projects in these locations. Some such projects include Supertech Supernova and Curio City.

National: New Residential launches in this festive season

Garima Goswamy - 1-Nov-2012
The third quarter of 2012 has seen a number of new launches during this festive season.

National: RBI & Finance Ministry to finalize external commercial housing, says Maken

Garima Goswamy - 1-Nov-2012
Both the Central Bank, the Reserve Bank of India and the Finance Ministry has given the requisite approval needed to earmark approximately a billion USD for external commercial borrowing of low cost housing. Those projects which plan to have on offer housing units of less than 60 sq. m. of carpet area will be considered eligible for external commercial borrowing.

National: RBI proposes norms for realty firms with FDI

Garima Goswamy - 1-Nov-2012
The Reserve Bank of India (RBI) has proposed that the minimal capitalization requirement for any construction and real estate company with more than 75 per cent of foreign holding should be increased from five million dollars to ten million dollars. This move will be justified if the particular real estate firms are treated as a completely owned subsidiary of the foreign company.

NOIDA: Supertech partners with Leela for INR450 crores

Garima Goswamy - 1-Nov-2012
On 31 October 2012, the Chairman and Managing Director, Supertech RK Arora announced that Supertech Supernova will be done in collaboration with Leela hospitality chain.

National: Developers disappointed as RBI makes no rate cuts

Garima Goswamy - 31-Oct-2012
On 30 October 2012, with an attempt to combat inflation, the Reserve Bank of India kept the key interest rates unchanged but reduced the cash reserve ratio from 4.75 per cent to 4.25 per cent. However there was no cut in interest rates.

National: Jones Lang La-Salle to raise realty funds worth INR300 crores

Garima Goswamy - 31-Oct-2012
Jones Lang La-Salle (JLL) India, an ace property consultancy recently set up JLL Segregated Funds Group which aims to raise funds to invest in the Indian realty market. It is about to raise fund worth INR300 crores soon.

National: At the fifth GIREM Leadership Award, Tata Housing bags 'Company of the year'

Garima Goswamy - 31-Oct-2012
At the fifth GIREM (Global Initiative for Restructuring Environment and Management) Leadership Awards which took place at New Delhi, Tata Housing got recognizes as Company of the Year. It also won awards for the Shubh Griha project as the Best Integrated Township and the Best Marketing Campaign for the Promont project in Bangalore.

Mumbai: Realty company barred from selling disputed land in Andheri (West)

Garima Goswamy - 31-Oct-2012
As per a court order, Mumbai based Ozo Media Estate Property has been barred from selling property located at Shah Industrial Estate, Veera Desai Road in Andheri (West), Mumbai.

National: Decrease in private equity realty investments in India

Garima Goswamy - 30-Oct-2012
As per a report by real estate consultancy Cushman and Wakefield, there has been a decrease of around 15 percent in private equity investments in the first three quarters of 2012 in comparison to 2011. However, despite the fall, Mumbai remains to be the favourite when it comes to private equity investment. It is closely followed by Bangalore and NCR.

Mumbai: Growth in real estate with many new launches

Garima Goswamy - 30-Oct-2012
This season some prominent pre-launches have got good business to the real estate market in Mumbai. For instance, as many as 400 bookings have been confirmed last month for a project which bought two developers L&T and Omkar together in Bhoiwada, Parel.

Mumbai: SALT to monitor BMC's development work

Garima Goswamy - 30-Oct-2012
A Social Audit Local Team or SALT is to comprise of a group of five to six volunteers to actively participate and monitor the development work of Brihanmumbai Municipal Corporation (BMC) via a software programme. They can scrutinize work orders and audit road repairs.

Mumbai: Andheri Plot costs INR 205 crores to Mahindra Group

Garima Goswamy - 30-Oct-2012
Mahindra Lifespaces of the Mahindra Group has made a land deal worth INR205 crores with Nycomed Phama Pvt. Ltd. A formal agreement is to be signed between the two in the coming weeks.

Gurgaon: CCI argues small time developer unlikely to abuse dominant position

Garima Goswamy - 30-Oct-2012
In an interesting case a petition regarding abuse of dominant position by a private developer, namely Dwarkadhir Projects, was dismissed by the Competition Commission of India (CCI). The cause of dismissal was that the developer in question did not share a dominant position in the real estate sector. And so, it is unlikely that this position was abused.

Bangalore: Bharatiya City launched

Garima Goswamy - 30-Oct-2012
An integrated township of about 125 acres has been launched in Bangalore called Bharatiya City. It also has a IT SEZ component in it.

National: Finance Minister asks Banks to suggest real estate developers to lower property prices

Garima Goswamy - 29-Oct-2012
A meeting took place on 27 October 2012 between P Chidambaram, the newly appointed Finance Minister and chiefs of various banks. In the meeting Chidambaram has asked banks to monitor that developers complete their respective projects on time and lower the rates of apartments which are ready for possession but not being sold. As per his analysis, a huge amount of capital is being locked due to unsold inventories.

NOIDA: Traffic relief since two lanes of Greater-NH24 link road opened

Garima Goswamy - 29-Oct-2012
Traffic congestion has been reduced in NOIDA since 26 October 2012 after The Greater NOIDA Authority and Ghaziabad Development Authority have opened two lanes of roads between Holland Factory in Greater Noida and NH-24 for vehicular movement.

Gurgaon: Kingdom of Dreams in lease trouble by HUDA

Garima Goswamy - 29-Oct-2012
There is a possibility of termination of the contract between HUDA with the Great Indian Nautanki Company due to non payment issues. The amount of the dues may exceed INR12 crores.

Gurgaon: HUDA proposes to make Rainwater Harvesting System mandatory

Garima Goswamy - 29-Oct-2012
The Haryana Urban Development Authority (HUDA) plans to make rainwater harvesting system mandatory in Gurgaon. A HUDA official claims that such a proposal has been made to the state government. This initiative has been inspired by the measures adopted in Tamil Nadu, particularly after examining the amendments to Building Rules set by the Tamil Nadu Government which were enforced in 2003.

Gurgaon: Property dealer cheats man off INR30 lakhs

Garima Goswamy - 29-Oct-2012
Recently, an FIR citing charges of cheating and fraud has been lodged against a small time property dealer, Mahentra Pal Singh for cheating Ashok Kumar Chikkara, a resident of Delhi off INR30,00,000. The victim was given fictitious documents of a plot by the accused.

Mumbai: UDRI to provide updates about Development Plan 2014

Garima Goswamy - 27-Oct-2012
A newsletter entitled 'Mumbai Bol' will be sent by the Urban Research Institute (UDRI) to update all citizens' groups and residents' associations regarding Mumbai's Development Plan 2014.

Mumbai: Display paperwork to help maintain records of state government plots

Garima Goswamy - 27-Oct-2012
In order to help the government maintain its record of land granted by the state government on rent or on sale, there is a possibility that lessees and occupants of such plots will be asked to display documents validating such contracts in public view.

National: Land Deals between Vadra and DLF unfair?

Garima Goswamy - 26-Oct-2012
The statement made by social activist Arvind Kejriwal that ‘the Haryana Government is DLF’s Agent’ seems to implicate dealings between DLF and Robert Vadra was based on ulterior motives. Arvind Kejriwal alleges that Vadra bought property which was worth INR 35 crore in Gurgaon below market rate and made huge profits. It is also alleged that DLF complied such a deal to gain political favours from Sonia Gandhi's son-in-law.

National: Cabinet will discuss the Draft of Real Estate Regulation Bill

Garima Goswamy - 26-Oct-2012
Today the Housing Ministry is believed to take a draft of a real estate bill to the Cabinet Ministers. It is called the Regulation and Development Bill 2012 and is bound to be the reason for a lot of debate in the winter session this year.

Gurgaon: Government fails to provide affordable homes

Garima Goswamy - 25-Oct-2012
The President, Gurgaon Citizens' Council, expressed annoyance at the Haryana Government for not fulfilling its promise to provide affordable homes to the lower and middle income group category.

Mumbai: BKC plot development norms might not be revised

Garima Goswamy - 25-Oct-2012
On 22 October, in a meeting in Bandra Kurla Complex Chief Minister Prithviraj Chavan had considered revising norms whereby builders will not be asked to pay a penalty of 10 percent of the auctioned amount per year for three years in case they do not complete their project within four years. However, post allegations that this move would have favoured some companies like Reliance India Limited, the CM has put a stay on it.

Mumbai: PR Developers launch Woodwind in Andheri (East)

Garima Goswamy - 25-Oct-2012
October 2012 saw the auspicious launch of Woodwind by PR Developers in Andheri (East), Mumbai. Booking are open for 2BHK apartments covering an area of 1,190 sq. ft. placed on first to fourth floors of the seven storeyed structure. The project offers a number of prospects for an urban working population. As the name suggests, Woodwind by PR Developers promises to offer urban dwellers a combination of dense green trees in an area where the wind will breeze through its exteriors. This will please its residents, inviting them to start their day in a healthy and refreshing manner.

Gurgaon: BPTP Visionnaire Homes launched

Garima Goswamy - 24-Oct-2012
Recently BPTP announced the launch of BPTP Visionnaire Homes. These homes will be designed in a way to provide a luxurious lifestyle in villas. BPTP has undertaken this project in collaboration with Italian design genius of IPE Cavalli Furnishings.

NOIDA: The tallest one standing

Garima Goswamy - 24-Oct-2012
Brys Group has plans to build a 300m tall residential tower in NOIDA. This will probably house flats which will be sold at INR 9 crore a unit. Although the group insists that it will be the tallest building in NCR, let alone NOIDA, this seems suspect. This is because Supertech had already announced plans for constructing a 300m tall building too called Spire in Supertech Supernova.

India: Banks might fund partially completed housing projects

Gaurav Gupta - 26-Sept-2012
Taking up the recommendation of the Financial Services Secretary, D K Mittal, banks will have to work out schemes to fund partially completed real estate projects in small towns. This development took place this week when he was presiding over a joint meeting of the Indian Bankers’ Association (IBA) and the Confederation of Real Estate Developers’ Association of India(CREDAI).

Mumbai: Suite ‘up’ with higher FSI to affordable homes

Gaurav Gupta - 26-Sept-2012
On 21 September 2012, Chief Minister of Maharashtra, Prithviraj Chavan, announced that the Maharashtra Government will increase the Floor Space Index (FSI). This will allow developers to built taller skyscrapers. According to Chavan, who also happens to lead the Urban Development Ministry, this will help in providing affordable homes and also reduce congestion in cities like Mumbai. This news is likely to benefit realty developers who have upcoming projects in Pune and Navi Mumbai, where scope of realty development is immense.

Gurgaon: Subvention schemes beneficial to all concerned parties

Gaurav Gupta - 26-Sept-2012
This Diwali there might not be many new realty launches in Gurgaon. However, a lot of realty developers have decided to use a 20: 80 offer as a marketing tool to enhance realty sales. According to such 'subvention schemes' buyers are expected to pay a lower percentage of the basic cost at the time of investment and the higher percentage at the time of possession. Currently, Indiabulls and Unitech are providing such schemes. The duration of such schemes depend on the discretion of developers.

NOIDA: Skepticism about ‘Waves Infratech City Center’ removed

Gaurav Gupta - 26-Sept-2012
Since quite a few months, there has been marked skepticism amongst investors and home buyers, who were keen to invest in Waves Infratech’s upcoming project ‘Wave City Center’. This was mainly due to a petition of approximately 94 farmers, who believed that the allotment of land to the realty developer was unfair. However, on 24 September 2012, after the Supreme Court rejected this petition, the development will take place without any hassles.

Gurgaon: Premium realty destination

The Economic Times - 18-Sept-2012
According to a report, the National Capital Region (NCR) will have a total demand of nearly 10.2 lakh sq. ft. of residential units, 249 lakh sq. ft. of office space and 66.6 lakh sq. ft. of retail spaces by 2013. Forthcoming world-class projects, proximity and good connectivity to Delhi are a few factors contributing factors of why Gurgaon is registering the fastest growth in the real estate sector in the country.

National: Russian Realty Firm to invest in Punjab

Zee News - 13-Sept-2012
On 12 September 2012, it was announced that Russia-based realty firm CMI Development offered to invest in infrastructure and real-estate in Punjab, India.

Gurgaon: Godrej Properties sells 695 flats in one day in Gurgaon

Economic Times - 13-Sept-2012
On 11 September 2012, the Mumbai-based real estate developer, Godrej Property had launched the 21- acre housing project in Gurgaon comprising 1,200 flats with an investment of up to Rs 600 crore. On 12 September 2012, in a statement, has sold the first phase of its housing project comprising 695 flats in Gurgaon in one day.

Gurgaon: Residential associations want Pune Model to ensure 24hours power

Times of India - 13-Sept-2012
Most resident welfare associations of Gurgaon have welcomed the Dakshin Haryana Bijli Vitran Nigam (DHBVN) move to introduce the "Pune model" to ensure 24X7 power supply in the city. On 11 September 2012, DHBVN asked the officials in operation circle of Gurgaon to identify private colonies and group housings societies with single source connections.DLF City Residents Welfare Association has asked the discom to start the system from DLF city as pilot project.

Gurgaon: Restoration of partially demolished buildings on MG Road, Gurgaon

Financial Express - 12-Sept-2012
In March 2012, the Lieutenant Governor’s Office issued directions for the restoration of building numbers 1, 2, 10 and 13 on MG Road in Guraon which were partially demolished by the Municipal Corporation of Delhi in 2006. At that time, the civic body had said that these structures were constructed without the requisite building sanction.

Mumbai:DB Realty appoints a CEO for the first time

http://articles.economictimes.indiatimes.com/2012-09-09/news/33697722_1_d-b-realty-indiabulls-real-estate-vinod-goenka - 12-Sept-2012
According to a press release, property developer DB Realty has appointed Vipul Bansal as its Chief Executive Officer with immediate effect. The new CEO will oversee real estate and hospitality verticals of DB Group.

China, India may lead retail real estate investment by 2020

First Post - 12-Sep-2012
On 12 September 2012, Jones Lang LaSalle released a report entitled 'Redefining Retail Investment: Global Real Estate Futures' China and India ranked highest in the global real estate market. By 2020, Asia Pacific is forecasted to account for 26 percent of global retail investment volumes, up from 22 percent currently and from only 11percent in the mid-2000s.

Prozone CSC to list on BSE, NSE as independent entity

Economic Times - 11-Sep-2012
On 11 September 2012, Real estate player Prozone CSC, which was earlier a subsidiary of Provogue India Ltd, announced that the company will be listed on NSE and BSE on 12 September 2012 as an independent entity.

First real-estate web channel Propex TV launched in India

Money Control - 10-Sep-2012
Propex TV, claimed to be the India's first real-estate web channel, has started its operations in Malayalam. The web channel can be accessed through a specially developed application, which can be downloaded on Android platforms. The group proposes to make it available on devices using other operating systems like Iphone, Window, Blackberry too.

Sahara India arm launches low-cost housing scheme

The Times Of India - 11-Jun-2012
Sahara Infrastructure and Housing, the real estate arm of Sahara India Pariwar, on Sunday launched the group's first low-cost housing project in India. To be branded as Swapna City, houses built as part of the project will cost between Rs 5.5 lakh and Rs 12 lakh and will come up across 366 Tier-II and Tier-III cities in India. Houses built under this project will range from 285 square feet studio apartments to one and two bedroom sets.

Sahara launches 10 township projects across Tier-2 and 3 cities

The Economic Times - 11-Jun-2012
Sahara India has launched 10 integrated township projects across Tier-II and -III cities in the country spread over 900 acres. It has also launched a new affordable housing brand called Sahara Swapna City that will be built on smaller land parcels across 360 cities.

NRI real estate investments rise in Mumbai every time the dollar appreciates

The Economic Times - 10-Jun-2012
With the dollar appreciating in value compared to the rupee, more NRIs are looking forward to investing in real estate in India. Since Mumbai is a booming realty market, NRIs have always considered it to be a safe bet to invest in the city.

New policy on black money in real estate sector inadequate

The Economic Times - 09-Jun-2012
The government is considering a number of measures to check the menace of black or unaccounted money in the economy, as the real estate sector is considered more vulnerable to it. However, experts say that these measures may cause a lot of problems for homebuyers if they are not implemented properly.

Most developers in India raised prices in 2011-12, owing to a rise in construction costs

Business Standard - 06-Jun-2012
Even as global housing prices recorded growth of a mere 0.9 per cent in 2011-12, India saw 12 per cent growth in the same period, according to a Knight Frank report. India ranks third in the global price index, while Brazil tops the list with 23.9 per cent growth. Estonia, which recorded 13.9 per cent growth in residential real estate prices, was second in the list.

India No. 3 in world in realty price rise

The Times Of India - 06-Jun-2012
Even as first-time buyers are exhausting their savings to buy a home, realty rates in India are going through the roof. Property prices increased by 12%, propelling India to third position among 53 countries where prices have appreciated in the past year.

India sees 3rd highest rise in housing prices in January-March quarter

The Economic Times - 05-Jun-2012
India witnessed the third highest rise of 12 per cent globally in housing prices in January- March quarter of 2012 over the year-ago period, according to consultant Knight Frank. Housing prices in India, however, declined by 0.9 per cent when compared with the previous quarter.

Mumbai property prices would go up by 15-20% in 2012

The Economic Times - 29-May-2012
Potential home buyers who have been waiting for a long time for the property rates to correct, would have to wait for some more time as the prices in Mumbai is expected to go up by at least 15 to 20 percent.

Vision India plans Rs 1,750-cr realty projects

Business Standard - 29-May-2012
Chennai-based Vision India Real Estate is planning to launch two projects with a total cost of Rs 1,750 crore. The company will invest around Rs 300 crore, apart from the land cost, which will be funded primarily through foreign direct investment (FDI), according to a top official of the company.

Rupee depreciation makes real estate attractive to NRI

The Times Of India - 28-May-2012
The depreciating rupee may be a concern for the economy, but builders here are laughing all the way to the bank. The real estate here which was reeling under pressure due to high interest costs and inflation is suddenly active again from the past couple of weeks with a slew of new projects being launched.

Residential property prices in city rise: Study

The Times Of India - 28-May-2012
Pune: Prices of houses in the city are on the rise. They have gone up 16 per cent in the first three months of the current year when compared to the corresponding period last fiscal. Reports indicate that the market has factored in the higher burden of interest on home loans.

NCR is the largest residential market

The Economic Times - 26-May-2012
The NCR is the largest residential market in the country by sheer volume of residential units launched. Currently, it has more units than the combined tally of the other five metropolitan cities of Mumbai, Chennai, Bangalore, Kolkata and Hyderabad.

For stability, NRIs turn towards realty

The Indian Express - 26-May-2012
Recently an acquaintance, a fund manager by profession, relocated to India to set-up a domestic private equity fund. He had invested in a Mumbai residential property strategically located close to the primary business district and an international school. This investment, done a few years back, helped him crystallise his plans for relocation to India and start his venture without spending time in finding the right location, house and school.

Blackstone in talks with Unitech for Rs 3,000 crore deal for SEZs and IT park in Kolkata

The Times Of India - 23-May-2012
US private equity firm Blackstone is in talks with real estate developer Unitech to buy its two special economic zones in Gurgaon and Noida and an IT park in Kolkata in a deal worth over Rs 3,000 crore. A senior executive at Unitech confirmed the development and said that Blackstone is carrying out due diligence on the properties, which are part of AIM-listed Unitech Corporate Parks.

Realty share in FDI slumps to 1.94% between Apr'09 and Dec'11

ZeeBiz - 22-May-2012
Owing to global financial crisis, the foreign direct investment (FDI) in the real estate sector between April 2009 and December 2011 (Q1 FY10 and Q3 FY12) declined by a drastic 92 percent, a recent survey says. According to a survey by consultancy firm Knight Frank, FDI in real estate declined by 92 percent and its share in total FDI shrunk from 16.83 percent to 1.94 percent during this period.

Real estate developers plan strike in October

Business Line - 19-May-2012
Developers in the country may go on strike in October if the Government does not listen to their demands. The Chairman of the Mangalore chapter of CREDAI (Confederation of Real Estate Developers’ Association of India), Mr P.M.A. Razak, said this at the inauguration of a property fair in Mangalore on Saturday.

Real estate ideal for investors looking for high returns and no risk

Economic Times - 19-May-2012
The stock markets tanking and the rupee depreciating against the dollar seem to be daily headlines of late. While the stock and currency markets rock, taking cues from global and domestic macroeconomic developments, the residential property markets seem set on a buoyant note.

Weak rupee makes real estate investments cheaper for the NRIs

Economic Times - 18-May-2012
The depreciating rupee has positively influenced the demand from NRIs for residential properties in various cities across India, especially in Mumbai. The rupee has been touching new lows everyday. Even today, the rupee touched 54.82 per dollar in early trades.

Emaar-MGF targets delivery of old projects in FY13

Business Standard - 18-May-2012
Emaar-MGF, a joint venture between Dubai-based real estate developer Emaar Properties and India’s MGF Development Ltd, is looking at fast completion of its existing projects in the current financial year rather than launching new projects.

Covering private builders under Land Bill to hit infra sector

Zee News - 17-May-2012
National Real Estate Development Council on Thursday opposed the Land Acquisition Bill saying it should not be applicable to private builders as it will impact development of infrastructure across the country.

Ansal Properties & Infrastructure plans to expand townships in Lucknow, Greater Noida

Economic Times - 16-May-2012
Real estate developer Ansal Properties & Infrastructure today said it plans to expand its two big townships in Lucknow and Greater Noida by a total of about 4,000 acres, for which it has sought permission from the Uttar Pradesh government.

Supertech to raise Rs 3,000 cr via pvt equity this fiscal

Business Standard - 16-May-2012
The company announced foray in Gurgaon with a housing project to be developed in a jv with an investment of Rs 400 crore in three years. Realty firm Supertech today said it plans to raise about Rs 3,000 crore in the current fiscal through private equity for funding its various projects.

Four day realty expo from May 18

The Times of India - 16-May-2012
Builders' Association of India (BAI), in association with Confederation of Real EstateDevelopers' Associations of India (CREDAI, Mysore centre), will organize MYREALTY-2012 'The Great Property Show' at Maharaja grounds here from May 18 to 21.

Mumbai Land Prices Set to Extend 15% Decline, Oberoi Realty Says

Bloomberg - 12-May-2012
Mumbai land prices, India’s most expensive, may extend their 15 percent decline this year as high borrowing costs force indebted developers to sell real estate, Oberoi Realty Ltd. (OBER) Chairman Vikas Oberoi said.

Sales in NCR residential real estate market go up

The Economic Times - 12-May-2012
Market shows a positive outlook as sales have picked up in the fourth quarter of 2011-12, says global consultancy firm Knight Frank in its latest report on residential real estate market in the National Capital Region of Delhi. According to the report, Delhi's residential market might see some appreciation in capital value, despite the slowdown in the economy. However, it says, prices in the suburban micro markets of theNCR are expected to remain stable over the next few quarters.

Housing demand to remain stagnant till economy improves

Business Standard - 10-May-2012
Housing demand is expected to remain subdued in short-to-medium term despite cut in key policy rates by RBI, global property consultant CBRE has said. "While the recent rate cut by the RBI has helped generate positive sentiments in the market, stagnancy in demand will continue in the short to medium term unless there is an overall improvement in the economic scenario," CBRE South Asia Chairman and Managing Director Anshuman Magazine said.

Competition Commission of India pulls up DLF for allotment cancellation

Times Of India - 10-May-2012
The Competition Commission of India (CCI) has pulled up real estate major DLF Ltd in a recent order for cancelling the allotment of an apartment of a member of DLF's Park Place RWA, stating that it was in "direct contravention" of its stay order of September 2010.

Cognizant raises investment in real estate infra by $200 m

The Hindu Businessline - 09-May-2012
Cognizant Technology Solutions has increased its real estate infrastructure expansion in India by nearly $200 million. The US-based company, which has large offshore presence in India, has revised its investment plan to a total of $700 million in real estate from 2011 through 2015.

Real estate in Delhi-NCR is a bubble about to pop

FirstPost - 04-May-2012
Two days ago, property consultant Knight Frank termed NCR (the National Capital Region of Delhi) as the largest residential market in India, with around 5 lakh houses under construction that are slated to be ready for possession by next year.

DLF, Haryana Urban Development Authority to build 16-lane corridor to make life easier for Gurgaon commuters

The Economic Times - 03-May-2012
A 16-lane dedicated corridor in Gurgaon will link DLF's Gateway Tower in Cyber City to the Golf Course Road, offering some relief from crumbling infrastructure in Delhi's suburb.

Delhi sells its homes faster than Mumbai

First Post - 03-May-2012
Mumbai may be second to Delhi in unsold homes, but it will take longer to sell them. Real estate developers in the financial capital must wait over three years to clear 1.13 lakh units or 120 million sq ft as high prices deter potential buyers, shows a study released by Liases Foras, a real estate rating and research consultant.

Home loan growth falls, bank credit growth at 17%

Indian Express - 01-May-2012
With interest rates remaining high and real estate prices rising further, the growth in housing loans declined to 12.1 per cent in fiscal 2011-12 from 15 per cent in the previous year. The growth rate in non-food bank credit was also down at 17 per cent during the year as compared with 20.6 per cent in the previous year, the Reserve Bank of India said.

Realty firms spread wings

Business Standard - 30-Apr-2012
Real estate companies are looking beyond brick and mortar. Signalling a new phase of diversification, developers are venturing into film production, Bollywood music, TV documentaries and even the food business.

Avalon to invest Rs 400 cr on four housing projects

Zee News - 29-Apr-2012
Realty Company Avalon Group will invest about Rs 400 crore oer the next three years to develop four housing projects in North India. The Gurgaon-based company is coming up with these four projects, comprising nearly 3,000 apartments, at Bhiwadi, Dharuhera and Vrindavan.

RBI ups housing loan limit to R 10 lakh for weaker sections

Indian Express - 28-Apr-2012
RBI ups housing loan limit to Rs 10 lakh for weaker sections .In bid to promote housing for low income groups in major cities, the Reserve Bank of India has doubled the limit for home loans to Rs 10 lakh for consideration under priority sector lending.

Dream of affordable homes gathers dust in Maharashtra

Zee News - 25-Apr-2012
An ambitious plan to construct 500,000 affordable homes in Mumbai, Thane and Raigad districts of Maharashtra is gathering dust due to "inaction and policy paralysis" on the part of the state government, a top realtors' body alleged here Wednesday.

Walton Street returns to Indian real estate, to put Rs 100 cr in Noida project

The Economic Times - 25-Apr-2012
At a time when foreign private equity (PE) investors are a bit wary of the Indian property market, Chicago-based PE real estate investment firm Walton Street Capital is making a comeback.

Citigroup's Rs 985 cr office space buyout biggest commercial property deal

The Economic Times - 25-Apr-2012
In a dismal real estate market, US banking giant Citigroup on Tuesday closed the biggest commercial property deal. Citi bought six floors of office space in Mumbai's Bandra Kurla Complex for Rs 985 crore to house its India headquarters, from a consortium led by the Purnendu Chatterjee Group.

RBI's big rate cut won't spur housing market

The Economic Times - 22-Apr-2012
Prospective home buyers in India are unlikely to even blink, let alone give a thought, to hinging their purchase decision on the 50 basis points (bps) rate cut announced by the Reserve Bank of India on Thursday. The cut translates to a 3.2% decrease in a homebuyer's equated monthly installment (EMI), which isn't motivation enough to turn people from squirrels to squanderers. Besides, the rate easing comes after a 375 bps increase between March, 2010 and October, 2011.

Government sets up a panel to help realty projects work faster

The Economic Times - 20-Apr-2012
The government has set up a committee to streamline the approval procedures for real estate projects in the country, a move that will help fast-track projects and cut cost overruns for builders and buyers. he panel, headed by the former chairman of the Competition Commission of India, will help evolve a systematic approach through which all cities can develop a fast track, single-window clearance mechanism for real estate projects.

Chennai Realty Company targets Jains, Marwaris for high-end project

The Economic Times - 19-Apr-2012
In the last few months, Gurgaon has lived up to its status of a global city and brought to the fore, a severe lack of civic, security and infrastructure. The city is now one of the best urban locales to work and live in the country.

RBI rate cut may not impact real estate prices

The Economic Times - 19-Apr-2012
Sale of flats in Mumbai will continue to remain sluggish even after the Reserve Bank of India on Tuesday reduced by 50 basis points its repo rate. "The interest cut won't make homes affordable as property prices are already high and are unlikely to come down given the high input costs," said a property consultant.

Gurgaon lives up to its reputation as one of best urban locales to work

The Economic Times - 19-Apr-2012
In the last few months, Gurgaon has lived up to its status of a global city and brought to the fore, a severe lack of civic, security and infrastructure. The city is now one of the best urban locales to work and live in the country.

Subroto Roy’s Sahara front runners for Parsvnath’s Delhi land, offers Rs 600 cr

The Economic Times - 18-Apr-2012
Subroto Roy's Sahara Group is the front runner for buying Parsvnath's land in Delhi, sources with direct involvement said. Sahara has offered to pay Rs 600 cr for the 1.8 acre prime commercial land near Cannaught Place. Sources indicate that Parsvnath Developers are expecting Rs 700 crores for the property and are in negotiations with the Sahara Group.

Realty firms likely to have fared marginally better in Mar quarter

Livemint - 17-Apr-2012
Real estate firms are expected to have performed better in the quarter ended March (Q4) than in the preceding three months as they improved execution of projects and sales bookings, likely pointing to a turn of fortunes in the year ahead. But concerns remain over debt and cash flows.

Should an infrastructure project propel you to buy a house ?

The Economic Times - 16-Apr-2012
In 2007, the central government approved a plan to build an international airport at Navi Mumbai. A savvy Pervinder Singh Sidhu, 36, quickly snapped up a house in the area just a few days after the announcement.

Almost 50% investment proposals are damp squibs

Daily News & Analysis - 15-Apr-2012
Although the state attracted investment proposals worth `10 lakh crore in the form of 1,624 live projects in the past couple of years, a whopping 43% of these turned out to be non-starters.

Noida realtors shift focus to Gurgaon

Hindustan Times - 14-Apr-2012
Many Noida-based developers are buying licensed land in Gurgaon not from villagers, but directly from the ‘secondary’ market as part of their expansion strategy.

Earth Iconic launched in Gurgaon

Open PR - 13-Apr-2012
Earth Infrastructures Ltd. has recently launched it’s yet another ambitious project called Earth Iconic at Sector-71 in Gurgaon. Spread across 3.75 acres of prime landscape and set within the increasingly popular concept of commercial mixed land use, Earth Iconic offers retail shops, entertainment zone, food courts, studio apartments and unfurnished office spaces as one facility.

Unitech comes up with Gardens Galleria

MyDigitalFC - 11-Apr-2012
Unitech, one of the India’s leading integrated developers of large-scale real estate projects, has launched Gardens Galleria in Noida. It is part of Unitech’s existing 147 acres entertainment-cum-retail destination in Noida. Gardens Galleria, designed by US-based firm Callihon, is spread over 8.36 acres, is strategically positioned adjacent to sector -18, Noida and Film City.

Bangalore is all about office... office

Daily News & Analysis - 10-Apr-2012
While demand for residential space was mostly sluggish in 2011, demand for office and retail space remained healthy in Bangalore.

DoubleTree by Hilton opens new property in Gurgaon

TravelBiz Monitor - 09-Apr-2012
Hilton Worldwide recently opened a new DoubleTree by Hilton property in Gurgaon. The DoubleTree by Hilton Gurgaon - New Delhi NCR offers a combination of guest services, amenities and technology.

Builders plan countrywide strike

Hindustan Times - 09-Apr-2012
Builders across the country have decided to strike to protest against the delays in approvals for construction projects. According to the confederation of real estate developers association of India (CREDAI), it will be a day-long strike, and the agitation will be intensified if the demands are not met.

DLF announces entry in real estate market of Lucknow

The Economic Times - 08-Apr-2012
Real estate biggie, DLF Ltd announced its maiden project in Lucknow which will entail an investment of Rs 350 crore over the next 2-3 years. Announcing their entry in the real estate market of the rapidly growing state capital with a 248 acre Gardencity residential township, Director DLF Ltd, Ananta Singh Raghuvanshi said that the response to the project has been way beyond their expectations which has given them the confidence to launch more such projects and increase their investment in the state.

Ready homes find more buyers than under-construction flats

The Economic Times - 07-Apr-2012
According to a recent report by research firm PropEquity, residential projects in the top three real estate markets in India are facing massive execution delays - around 45% of all projects that were launched prior to 2008 in these three markets are still under construction. "Buyers today are putting a bigger emphasis on timely completion of projects.

Circle rates hiked by as much as 15%

The Times of India - 03-Apr-2012
In order to bring down the gap between the "white" and "black" money paid while purchasing a property, the Gurgaon administration has enhanced the collector rates (or circle rates) for registration of property by up to 15%, effective from this financial year. Collector rates are the minimum floor rate one needs to pay in order to register a property.

Raheja Developers plans Rs 1,000 crore investment on new township

The Economic Times - 1-Apr-2012
Raheja Developers is planning to build an integrated township at Sohna near Gurgaon that could entail an investment of about Rs 1,000 crore over the next three years. The project has been planned over an area of 108 acres that will be expandable up to 250 acres.

1 in 5 city properties lying vacant

The Times of India - 30-Mar-2012
On the one hand, thousands of people aspire to have a house of their own, while on the other hand, about one-fifth of houses in the city are lying vacant. According to Census 2011, more than 18% of houses in Gurgaon are neither occupied by owners nor by tenants, higher than the number of such houses in other parts of the NCR at about 15%.

Govt coffers brim as real estate generates Rs 1,700 crore revenue

The Times of India - 30-Mar-2012
The real estate sector has turned out to be a lucrative proposition for Gautam Budh Nagar. The department of stamps and registration of the district has collected over Rs 1,700 crore as revenue from properties registered in the financial year 2011-12 in Noida, Greater Noida and Yamuna Expressway.

Realty in Bangalore to see 25% growth

IBN Live - 28-Mar-2012
The real estate sector in Bangalore has grown to a large extent in the past one year. In the year ahead, the city’s realty is expected to grow by 25 per cent, estimates the Karnataka Chapter of the Consortium of Real Estate Developers’ Associations of India (CREDAI).

Raheja Developers to invest Rs 300 crore in group housing project at Dharuhera

The Economic Times - 28-Mar-2012
Raheja Developers are going to invest about Rs 300 crore in a group housing project at Dharuhera in Haryana over the next 4-5 years. The project, Oma, will have 640 apartments and will be one of the tallest buildings in the area with 40 storeys.

Illegal structures in Haryana sectors: Change of Land Use certificates for owners

The Times Of India - 28-Mar-2012
In a major relief to thousands of owners of illegal structures existing within sectors of urban estates and approved colonies, Haryana government on Tuesday announced to give Change of Land Use (CLU) certificates to owners.

Real estate tops Private Equity (PE) chart in Feb

Livemint - 26-Mar-2012
The second month of 2012 saw $922.7 million of private equity (PE) investments in Indian companies across 51 deals, 58% higher than the investments of $583.8 million across 24 deals in the same month last year.

Builders offer 30% bait for unsold commercial properties

DNA India - 26-Mar-2012
Trying to wade through the sluggish real estate market, developers have started coming up with various offers to lure buyers and dispose of commercial properties in the city.

Real estate stocks slump on reports of duty hike for Mumbai property

The Economic Times - 26-Mar-2012
Shares in real-estate companies with sizeable exposure to Mumbai fell on Monday after newspaper Times of India reported the state government of Maharashtra was planning to increase stamp duties in the city by as much as 160 times for residential and commercial properties.

UP housing board to raise property rates

The Economic Times - 26-Mar-2012
New houses and plots offered by the UP Housing and Development Board (UPHDB) in Ghaziabad and Loni may cost nearly 20% more with the state government agency planning to jack up prices in the new financial year.

Competition panel to aid home buyers

Hindustan Times - 25-Mar-2012
Property buyers now have a friendly watchdog. The Competition Commission of India (CCI), whose job is to ensure fair competition between corporate entities, plans to take steps to create rules to stop realestate developers from abusing their dominant positions at the cost of customers.

SARE Homes (South Asian Real Estate) launches Petioles

Indian Realty News - 24-Mar-2012
SARE Homes (South Asian Real Estate), recently launched Petioles privacy apartments with Gurgaon’s first luxury private Sky Deck in Sector 92. Developed on a 48-acre integrated township, Petioles consists of 4 BHK and 4 BHK + servant room apartments in 2,040 - 2,226 sq. ft area.

Assotech to go pan-India with serviced apartments

Business Line - 23-Mar-2012
Delhi-based real estate player Assotech Realty has said it will take pan-India stride by opening serviced residence in 25 major cities across India.

Property is now cheaper

The Times Of India - 22-Mar-2012
Home buyers, struggling to keep pace with high interest rates and input costs, can breathe a little easy with this budget. The stamp duty has been reduced from 6% to 5% on sale deeds. The registration charge of 1%, however, remains.

Kotak Realty to invest Rs 120 crore in Parsvnath Developers

The Economic Times - 22-Mar-2012
Parsvnath Developers is raising Rs 120 crore from Kotak Realty Fund for a new 100-acre integrated township project on Sohna Road in Gurgaon. Kotak Realty fund will get a 20% stake in the special purpose vehicle that will develop the yet unnamed project, more than one person in the know of the deal said.

Housing prices rise most in India

The Economic Times - 21-Mar-2012
Housing prices in India witnessed the steepest rise in the world in the last 10 years since 2001. "House prices in India have increased by 284% in real terms, after allowing for inflation - equivalent to an average annual rise of 14%," said Lloyds TSB International Global Housing Market Review.

Election results: UP real estate projects set to take off

Business Today - 21-Mar-2012
The regime change in Uttar Pradesh is expected to ring in a change in the fortunes of key real estate and infrastructure companies, which had been pushed into the slow lane during the Mayawati rule. Sahara India Parivar, promoted by Subrata Roy, is likely to bounce back due to its proximity to the Samajwadi Party (SP).

Budget 2012: Property prices to rise by 2% as excise, service tax go up

The Economic Times - 20-Mar-2012
Property prices will rise by a minimum of two per cent immediately due to the hike in excise duty and service tax in the Budget, National Real Estate Development Council today said. "Property prices are surely going to rise. Now we have to see who will raise how much. However, it will increase by at least two per cent," National Real Estate Development Council (NAREDCO) President Navin M Raheja told reporters here.

Budget imposes 1% TDS on property sales

Business Standard - 18-Mar-2012
Tightening screws on black money in the realty market, the government has proposed 1% TDS (tax deduction at source) on transfer of immovable property if the sale value exceeds Rs 50 lakh in urban centres and Rs 20 lakh in other areas.

Union Budget 2012-13: Now buying or building of a house to cost more

The Economic Times - 17-Mar-2012
Purchase or construction of a house would now cost more due to expected rise in prices of key raw materials cement and steel and a hike in service tax by 2 per cent, realty players said.

India property expo in Doha begins tomorrow

Business Line - 16-Mar-2012
Indian developers are all geared up to offer NRI investors a wide choice of properties ranging from Rs 1.5 lakh to Rs 15 crore across India at an exhibition starting tomorrow.

Buyers hope Pranab will make housing within their budget

Hindustan Times - 16-Mar-2012
With affordable housing in Gurgaon becoming out of bounds, scores of homebuyers and realtors are hoping that Friday’s Union Budget will offer some relief.

Pvt investors prop up realty market

The Economic Times - 16-Mar-2012
Real estate developers are now living by a new credo: when the going gets tough, rope in private liquidity investors. Such investors’ backing is not only helping developers tide over a sluggish market, it is also reducing the ‘risks’ for the end buyer.

Union Budget 2012-13: Industry status & affordable housing a priority say Realty players

The Economic Times - 16-Mar-2012
With the real estate sector of the economy coming under repeated credit pressures owing to high interest rates for borrowing, the Union Budget 2012 to be presented by the Finance Minister Pranab Mukherjee is being looked at to provide relief in terms of policy reforms.

Better home loans and tax cuts, ask realtors

IBN Live - 15-Mar-2012
Chennai realtors are expecting the Union government to enhance the income tax exemption for up to Rs 3 lakh paid as interest on housing loans in a year from the existing Rs 1.5 lakh, to boost the real estate market. The market, which was struggling last financial year, has picked up and we expect the government to enhance the income tax exemption limit, says Siva Krishnan, head of residential services (Chennai), Jones Lang LaSalle India.

Realtors unhappy with no changes in policy rates

Business Standard - 15-Mar-2012
Real estate developers today expressed disappointment over the RBI's decision to keep key policy rates unchanged and sought a cut in interest rate to boost housing demand.

Govt must reduce home loan rates, say real estate developers

The Times Of India - 15-Mar-2012
The Confederation of Real Estate Developers Association of India (CREDAI), the apex body for private real estate developers in the country, has said the Centre must take measures in the Union budget to reduce interest rates on home loans.

Malls, infotech parks & MNCs may soon be levied higher property tax

The Times of India - 13-Mar-2012
Mayor Saidai S Duraisamy presented his first budget on Monday without hiking property tax rates but hinted that commercial space such as buildings housing multinational firms and IT companies may have to pay more from the next financial year.

ASK Property Investment Advisors invests Rs 40 cr in Pune project

The Economic Times - 12-Mar-2012
ASK Property Investment Advisors, the real estate arm of the ASK Group, today said that it has invested Rs 40 crore in realty developer Paranjape Schemes' project in Pune. The investment, in a Rs 150 crore worth project, is a part of Rs 340 crore raised through the ASK Real Estate Special Opportunities Portfolio 1 in 2009, a company statement said here.

CCI accuses DLF of imposing unfair conditions on Magnolia flat owners in Gurgaon

The Economic Times - 12-Mar-2012
Anti-monopoly watchdog CCI has again accused India's largest real estate firm DLF of abusing its dominant market position and imposing unfair conditions on home buyers, this time in its high-end residential project Magnolia in Gurgaon.

Budget 2012: Realty sector seeks relaxation in FDI, ECB norms

The Economic Times - 04-Mar-2012
Realty sector, facing severe credit crunch due to higher interest rates that had forced the developers to scrap new launches, expects the Union Budget to relax the norms for repatriation of foreign direct investment (FDI) and external commercial borrowings (ECBs) for the sector.

Mumbai property prices could be slashed

India Today - 27-Feb-2012
A large pipeline of project launches, following changes in Development Control Regulations (DCR) in Mumbai could trigger a fall in property prices in the coming months, say experts.

DLF expects Rs 700 cr sales realisation from housing project

The Economic Times - 27-Feb-2012
Realty giant DLF will soon launch a luxury housing project in Gurgaon with an expected sales realisation of about Rs 700 crore. According to sources, the company will offer 562 premium apartments in the project 'Regal Gardens', which is spread over 11 acres. The project is part of the 450-acre integrated township 'Garden City' in Gurgaon.

Budget 2012: Realty players want industry status for the sector

The Economic Times - 27-Feb-2012
Property consultants and real estate developers have demanded industry status to the realty sector in the forthcoming Budget. They have also sought incentives to promote affordable housing segment and an increase in the tax exemption on home loans

Budget 2012: NRIs look for transparency in real estate deals

The Economic Times - 27-Feb-2012
The recent depreciation in the rupee provided a great opportunity for Non Resident Indians (NRIs) who were looking at remitting funds to India for investment. Having sent in their greenbacks, the next obvious thing to do was to invest the funds smartly.

NRI investments in real estate rise

IBN Live - 26-Feb-2012
Property prices in the city continue to soar above the reach of? ‘aam aadmi’ in the city. But Non Resident Indians have made the most of this, as their investment interests in real estate in Bangalore has risen in the last few years. Speaking after the inauguration of the State Bank of India (SBI) and Consortium of Real Estate Developers of India (CREDAI) realty expo in the city, organisers said that ‘outsiders’ were investing more and more into properties here, as it? was a better option than many other cities in the country.

Indian realty to surge

Khaleej Times - 26-Feb-2012
Real estate projects in India are expected to surge in the price range of up to Rs10 million this year to satisfy the growing demand for decent housing.

77% housing projects in NCR delayed: Study

The Times Of India - 25-Feb-2012
One-third of the housing projects in Mumbai and Bangalore and over two-third in National Capital Region will be unable to complete work on time mainly due to a severe fund squeeze, according to a survey released on Friday.

Indiareit to raise $500m offshore development fund: CEO

Mydigitalfc - 24-Feb-2012
Indian real estate fund Indiareit Fund Advisors, a unit of drugmaker Piramal Healthcare, is planning to raise $500 million via an offshore fund to invest in Indian development projects, the company's top executive said on Friday.

DLF sells 350 flats for Rs 500 cr in luxury housing project at Gurgaon

The Economic Times - 22-Feb-2012
DLF, the country's largest realty firm, has sold 350 flats worth about Rs 500 crore in a luxury housing project at Gurgaon. The housing project 'The Primus', which is part of a 450 acre integrated township - DLF Garden City, was launched yesterday and all the flats were sold on the same day.

Orris to invest Rs 500 cr in four realty projects

Zeenews - 22-Feb-2012
Real estate developer Orris Infrastructure will invest up to Rs 500 crore on four projects, including two townships, in the National Capital Region over the next 5-7 years. "We are planning to expand our business aggressively in the next decade. As part of that strategy, we have planned about 10 new projects in the NCR in the next 5-7 years," Orris Infrastructure Managing Director Amit Gupta told reporters.

Govt may allow residential projects along expressways

The Times Of India - 21-Feb-2012
The highways ministry is considering to link the development of capital intensive expressway projects with real estate development in their vicinity. The ministry has mooted the proposal to allow residential and commercial complexes to come up close to the expressway alignment and the first such model could be tried on the Delhi-Jaipur stretch.

Adani Group to buy two-acre plot in Andheri for Rs 300 crore

The Economic Times - 20-Feb-2012
The Adani Group is acquiring a prime two-acre plot in Andheri suburb of Mumbai and additional development rights on it for Rs 300 crore.

Kamrup Housing to invest Rs 220 crore in two new projects

The Economic Times - 19-Feb-2012
Real estate developer Kamrup Housing Projects will invest about Rs 220 crore to develop two housing projects in Guwahati and Greater Noida over the next 3-4 years.

Budget 2012: More tax benefits will push real estate sector up

The Economic Times - 18-Feb-2012
The Union Budget for 2012-13 is around the corner. The Union Budget is scheduled to be tabled on March 16. The realty sector is hoping for something in the Budget that will stimulate more demand. According to industry watchers, the limits and exemptions should be harmonised with the rising interest rates and property prices.

SARE Homes launches 'Green ParC - II' in Sector 92, Gurgaon

The Economic Times - 17-Feb-2012
After successfully launching multiple projects in India, selling more than 3,500 apartments, handing over first possession on time, and creating significant monetary appreciation for its customers, investors and other stakeholders, SARE Homes (South Asian Real Estate), is delighted to announce the launch of 'Green ParC - II'

People living close to Metro corridors may end up paying more tax

The Economic Times - 14-Feb-2012
People living close to Metro corridors in the country could soon end up paying more tax with the Centre asking state governments to explore the option of imposing dedicated tax as part of innovative methods to finance such modern transport projects.

DLF may sell 2 Noida plots to Bharti Realty for Rs 250 crore

The Economic Times - 14-Feb-2012
India's biggest real estate firm DLF is close to selling two 25-acre plots of land in Noida to Bharti Realty, the realty arm of Bharti Enterprises, for 250 crore. The two plots of land in sector-144 of Noida have permissions to build IT parks under the IT park scheme of Noida and the buyer can build close to 2.5-3 million sq ft of office space on each of the two plots, said two persons close to the development, who did not wish to be named.

Real estate continues to be one of the most profitable avenues to invest

The Economic Times - 11-Feb-2012
Real estate continues to be one of the most vibrant and profitable avenues to invest in the country. Anuj Puri, the chairman and country head of global consultancy firm Jones Lang LaSalle India, says that investment in residential projects is currently the preferred route for investors, since the demand for homes in the metros and Tier II cities is virtually limitless.

Haryana Govt. planning to develop NCR like Gurgaon, Faridabad, Sonepat

The Economic Times - 09-Feb-2012
The Haryana government is planning to develop NCR like Gurgaon, Faridabad, Bahadurgarh and Sonepat under it sub-regional plan the National Capital Region (NCR). On this Monday Chief Minister Bhupinder Singh Hooda has declared in the second meeting of the National Development Council (NDC) Sub-Committee on Urbanisation.

Sun Apollo buys 50 pct in Assotech's Gurgaon project for 75 cr rupees

Reuters India - 07-Feb-2012
Sun-Apollo India Real Estate Fund has made its second investment in as many months by betting on a residential project of Assotech Limited, a Noida-based real estate company. Sun Apollo has invested Rs 75 crore to pick up a 50 per cent stake in the company's residential project in Gurgaon.

Kotak Realty Fund invests in Orris Infrastructure; SNG and Dua advise

Bar & Bench - 06-Feb-2012
Kotak India Real Estate Fund IV has invested Rs. 80 crore ($ 16.34 million) in Gurgaon-based Orris Infrastructure for its group housing project. SNG & Partners advised Kotak India Real Estate Fund with a team led by Partner Amit Aggarwal along with Senior Associate Devyani Dhawan.

Apartment developers cut corners to boost cash flows

Hindustan Times - 05-Feb-2012
As volumes in the real estate sector refuse to pick up, some apartment developers have slashed the average saleable area in Mumbai apartments. As a result, you now have homes that on the face of it look cheaper than the going rates in a particular area, but then in effect the size of the apartments have also shrunk.

RBI asks banks not to overstate value of realty

Hindustan Times - 03-Feb-2012
The Reserve Bank of India (RBI) on Friday came hard on banks for overstating realisable value of real estate properties they finance by including charges such as stamp duty and other levies. The RBI said the banks should not include these charges in the cost of the housing property they finance so that the effectiveness of loan to value (LTV) norms are not diluted.

Unitech to invest Rs 4,000 cr to develop over dozen malls

Zeenews India - 31-Jan-2012
Anticipating increase in demand for space following opening up of FDI further in retail sector, realty major Unitech will invest up to Rs 4,000 crore to develop 13 shopping malls over the next four years.

Rupee drop makes realty attractive for NRIs

The Times Of India - 18-Jan-2012
Many NRIs are teaming up with like-minded buyers on real estate group buying sites to shop for flats in India. The cheaper rupee and deep discounts offered by developers through these portals has triggered a substantial jump in property-related enquiries from NRIs in the US, UK and the Middle East in the last three months.

Finally, flat buyers will also be owners

Indian Express - 16-Jan-2012
High Court tells authorities to execute deed of apartment, make sale and transfer of flats easier. To ensure that apartment buyers do not have to struggle to sell their property, obtain loan on it or leave it to their children as legally recognised legacy, the Delhi High Court has set the ball rolling to guarantee buyers exclusive ownership rights.

Why residential property prices never fell in cities

The Economic Times - 16-Jan-2012
The last time Bharat Sharma went looking for a house that fit his budget of Rs 40 lakh was in January 2011. Prices were high then and so were interest rates. The same month, he came across reports about a possible correction in property prices in the next one year.

Delhi slips to 15th position as a real estate investment destination

The Economic Times - 16-Jan-2012
Growing economic and inflationary pressures saw Delhi and Mumbai slip from their third and fifth place in last year's list of real estate investment opportunities to 15th and 12th position respectively in 2012, said a real estate investment forecast Emerging Trends in Real Estate Asia Pacific 2012, which is jointly published by the Urban Land Institute (ULI) and PwC.

Delhi, Mumbai slip in APAC realty rankings, Bangalore holds on

The Economic Times - 16-Jan-2012
The report, titled, 'Emerging Trends in Real Estate Asia-Pacific 2012', found Delhi and Mumbai dropped from fifth and third place in last year's list of real estate investment prospects to 12th and 15th position, respectively, in 2012.

Gurgaon now looks to its periphery

Indian Express - 14-Jan-2012
Gurgaon realty has always been centred on the Golf Course road and the M-G road. The attraction offered by the former is the mixed development of high specifications both in residential and commercial segment while the latter has been popular on account of the malls and also for its connectivity to the NH-8.

Weak rupee tempts NRI to look at real estate

Business Today - 06-Jan-2012
Non-Resident Indians (NRIs) have started taking keen interest in the real estate sector back home following significant appreciation of the dollar vis-a-vis the rupee, a top official of housing finance company said on Friday.
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