Consultation India - Pune, Mumbai Real Estate/ Properties Investment, Property Management Services

Source: The Asian Age DUBAI-BASED LIMITLESS Holdings, part of the Dubai World group, has acquired a 50 per cent stake in DLF's ambitious Bidadi Knowledge City project in Karnataka. Limitless Holdings is an real estate developer that handles activities including feasibility studies, conceptualisation, planning, execution and property management of development projects. The project is being positioned as New Bangalore, spread over an area of 9,178 acres. It will entail an investment of over Rs 60,000 crore, the largest ever by a private sector company in the world.

Source: Economic Times. DUBAI: UAE Property major Emaar Properties has said that it will reconsider its initial public offering (IPO) in India "when the time is right" though the company is bullish about the Indian real estate market. In February, Emaar MGF withdrew its IPO for lack of adequate response. The company wanted to raise around Rs 6,500 crore on the initial price band of Rs 610-690. This was twice revised to Rs 530-630 and the closing date extended to February 11 from February 6. "India will be one of our largest operations and we have long-term plans there. The economy is doing well and we see a bullish story for the next 20 to 25 years," chairman Mohamed Ali Alabbar told the annual general meeting (AGM) of the company. "We would go to public at the right time. We are cash rich and we may even double our size," he was quoted as saying by the Emirates Business daily. Alabbar said the Indian and Morocco operations had contributed between Rs 1,64...

Source: The Economic Times Rajesh Unnikrishnan MUMBAI CUSHMAN & Wakefield. one of the world's largest property consultancy firms, said the real estate downturn in the US could continue and that India, China and the Middle-East will become even more attractive as these markets offer huge opportunities for investment. The US-based property consultant also said that more financial institutions in the US and Europe are likely to face financial problems in the coming weeks. In an interview with ET, John C Cushman III, chainnan of the board, Cushman & Wakefield said: "More bad news could come. We are facing new challenges everyday. Though there is a debate on whether this is a recession or not, in the coming months more bad things are waiting to happen." He said, as a consequence, global attention will be on the real estate market in India and China as these markets are offering huge investment opportunities. "India, with a GDP growth rate of 8% compared to less th...

Source: DNA Residential sales have declined in major cities, but prices are not falling yet Pooja Sarkar & Vivek Seal. Mumbai/New Delhi There is a slowdown in the sales of residential projects. But the house-hunter is still cribbing. His complaint is that the dip in sales is not reflecting in prices. The villain here's the office-space segment. Surging prices in this segment is putting the real-estate developer under no pressure to change the pricing matrix in the residential segment. Shailesh Kanani, research analyst, Angel Broking, acknowledges that sales in residential projects are going down. "There's definitely a fall in residential sales. It has gone down 60-70% in Mumbai," he said. In Delhi, it has fallen by 50-70% on a year-on-year basis. Sales are also declining in cities like Hyderabad, Chennai and Bangalore, but to a lower extent, two analysts told DNA Money. But real-estate developers are not worried. Says Amitabh Bhattacharya, senior vice-president, O...

Source: The Economic Times Land Owners To Be Authorised To Raise Rent At Regular Intervals; Forceful Occupation & Sub-Letting Not To Be Allowed Rajat Guha NEW DELHI THE Centre is planning to amend the archaic rent control rules in a way the property owners also have a reson to smile. In the new revised rent control ACT, the land owners would be authorised to increase rent at certain intervals. A forceful occupation of the property will not be allowed. Tenants who have been sub-letting the property also will not be allowed to do so under the new law. Urban development minister Jaipal Reddy recently said the ministry would soon bring out a new regulation. "The rent control laws are very tricky and sensitive issues. They have to be sensibly dealt with. We are finalising the modalities for the revised law. for which we are in active dis-cussions with all concerned parties," a source in the Nirman Bhawan said. According to sources, the new revised Rent Control Bill is likely t...

Source: The Hindu Business Line To develop business district; payment to be made over 8 years New Delhi, March 11 In what is being billed as one of the largest land deals in the country, real estate company BPTP Group on Tuesday snapped up 95 acres of prime commercial land at Noida for Rs 5,006 crore. The land was auctioned by the Noida Authority. BPTP, which outbid three well-known developers DLF, Omaxe, and Ansal Properties and Infrastructure Ltd, to clinch the land along the Noida and Greater Noida expressway, plans to build a commercial destination that will have offices, hotel and retail space. BPTP quoted Rs 1.30 lakh per sq. m against the reserve price of Rs 77,000 per sqm. "We are very excited. This is an ambitious project. India lacks large, planned commercial district with modern concepts and quality facilities. Delhi does not have a proper business district. We will make this commercial complex a world-class destination," Mr Kabul Chawla, Managing Director and prom...

Source: DNA The President of India has recently approved several amendments in the Maharashtra Ownership of Flats Act Vinod Sampat. Mumbai On 25th February, 2008, the President of India approved several amendments in the Maharashtra Ownership of Flats (Regulation of the promotion of construction, sale, management and transfer) Act, 2005. The highlights of the amendments along with the specific section are as follows: • Builder/s will have to execute the conveyance. • Power is given to the District Deputy Registrar to act as Competent Authority: Section 5A • Power is given to Competent Authority for registration of Co-operative Society under the provisions of Maharashtra Co-operative Societies Act, 1960: Section 10(1) • It is the duty of the promoter (builder) to file with the competent authority within the prescribed period, a copy of the conveyance executed by him: Section 11(2) • If the promoter fails to execute the conveyance in favour of the co-operative society, company or as...

Source: The Hindu Home they say is where the heart is, but if one goes by all the activity in the real estate market it would be hard to keep one's heart in one place. A few years back, buying a house, flat or even a plot would simply mean that one was getting a roof over ones head. This was satisfying a very basic need, that of housing. Fast-forward to today and housing is no longer just about a roof, it's everything to do with lifestyle, building com-munities, being socially connected, making good investments etc. The real estate market has become many things and today it is a prime source of investment. The recent economic boom and the growth in the IT and BPO sectors have seen a rise in affluence levels across the board. The return of the Indian Diaspora from greener pastures has resulted in the quality of homes going up. Gated communities, villas and large format flats have now become the norm. It wouldn't be right to assume that real estate has become only about luxur...

Source: The Times of India There are no indications that investor activity has overtaken genuine buyer activity in the market, says Anuj Puri MYTH 1: There is a 'bubble' in the Indian real estate market, and it will burst soon. Fact: There is no evidence of a 'bubble'. When a bubble develops in any market, it is because prices for that particular commodity or asset have gone through the roof and beyond affordability. This is far from the case in Indian real estate. The residen�tial sector is led by endusers and it is they who dic�tate the state of the market. Neither is there a sig�nificant correlation between the state of the stock market and that of the property market. There are no indications that investor activity has overtaken genuine buyer activity. In residential, the propor�tion is approximately 80% end users and 20% in�vestors. In the commercial sector, the proportion is almost 100% end users who are taking property on lease. There are instances of overheating...