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

Source: AME INFO United Arab Emirates: Tuesday, June 24 - 2008 at 08:00 Marwan Bin Galita, chief executive of Dubai Real Estate Regulatory Agency (Rera), said there is no direct link between property ownership and residence visas in the emirate, reported Gulf News. Noting that it is 'not a must' that those who buy a property can get a residence visa, he said that even if an investment company applies for a residence visa for a buyer, the residency department could reject it.

Source: The Economic Times Dominic Whiting SINGAPORE I N THE property world, the momentum appears to be with Asia. Funds designed to buy offices in Tokyo or build homes in China and India are sucking up money from Western investors eager to enter a region so far only grazed by the global credit crunch. But is the easy money to be made elsewhere? Maybe in the ravaged London market in the United States in a few months if price declines slow, or even in undervalued Asian property stocks rather than in bricks and mortar? At this week's Reuters Global Real Estate Summit, fund managers ING Real Estate and LaSalle Investment Managers, the property arm of British insurer Prudential and Dubai's ETA Star Property Developers all said they were raising new funds this year to invest in Asia. Hailing strong regional growth and a more mature investment landscape in Asia, where the advent of real estate investment trusts (REITs) has brought more transparency to the murky world of property deve...

Source: The Financial Express At least 68 million Indians will require independent housing by 2015 and add to the housing demand of nation due to age-demographic effect. Inthecase of urbanpopu-lation, the additional need for housing would be 31 million, a report on the 'Study of Residential Housing Demand in India prepared by the Nation-al Institute of Bank Management (NIBM) for National Housing Bank (NHB) said. NIBM has forecasted additional demandforhousingfor 2012-13 at around 6.79 million, a figure that has been projected by the 11th Planning Commission. Studying the linkages between housing demand and other sectors like steel and cement production, NIBM has estimated a 10 % increase in realised demand for houses (proxied by number of loans disbursed by HFCs and banks) resulting in a 4.59 % increase in steel produc-tionand 4.67% in cement production. A typical borrower, according to the study, would most likely to be a male in the age group of 40-50, a significant 25% were belo...

Source: The Economic Times Properties in the metros are literally going out of the reach of common people, the latest is to invest in affordable houses on the periphery, and later on encash these assets to purchase another house in the city. ET Realty explores the idea of buying property in the peripherals. M eet the new home buyer, who is actually a medium-term investor with a long-term end-user perspective first, an investor on the outskirts of the city, and later, a buyer in the city. Take a look at the case of Sanjit Baijal, a guy in his late twenties who works with a retail company. He wanted to own a house in Delhi itself. Anything which can be called a decent accommodation comes for nothing less than Rs 50 lakhs, whereas, he had only Rs 15 lakhs to spare. The result- he explored options in this range and combed the projects across Delhi NCR. The projects in affordable range were all on the periphery of Delhi, further away from the suburbs. He finally invested at the Ansal Town p...

Emaar MGF Land, a joint venture between Dubai's Emaar Properties and India's MGF, is to develop 31 million square feet of area in 10 locations in South India with a planned investment of $3bn. The first of these developments to be launched is Boulder Hills Golf & Country Club, a leisure and residential community in Hyderabad. The $1.4bn project features an 18-hole championship golf course, luxury residences, large format retail facility, luxury & boutique hotels and IT park.

Source: The Times of India Mumbai: Small flat-owners across Mumbai could expect greater relief in their property tax assessments. All party MLAs on Tuesday proposed that no changes will be made in the tax structure for flats with an area up to 500 sq ft for an initial five-year period. Put simply, lakhs of middle-class residents in chawls in the island city and those living in old buildings in suburban Mumbai could be spared any increase in the property tax which would shortly be levied on the basis of the market value of a property as against its rental value. The proposal was discussed at the joint select committee meeting of the state legislature which met on Tuesday to seek an all-party consensus to shift to the capital value system of determining property tax while protecting the interests of the middle-class. At present, property tax is calculated on the basis of the rents determined in 1940. Minister of state for urban development Rajesh Tope chaired the meet. While the MLAs una...

Source: Business Standard SIDDHARTH ZARABI New Delhi, 18 May S etting a new benchmark for apartments in the super-luxury segment in the national capital region, a local developer is offering 7,672 square feet of super area at a basic prices ranging between Rs 13,500 and Rs 14,750 per square foot (sq ft), the highest in the region. The property is attracting keen interest in the market and analysts said it indicates the market for luxury properties remains strong as ever. The 240-apartment property is being developed by Ambience Infrastructure Pvt. Ltd, a company promoted by Raj Singh Gehlot. Located 800 metres from the toll gate on the Delhi-Jaipur expressway of national highway 8, the 150-acre site borders the vast Rajokri greens. The smallest apartment in the Ambience project - The Caitriona - has a basic sale price of Rs 9 crore, while the largest carries a basic tag of Rs 11.31 crore. There are others charges that buyers have to bear: for preferential location, an open terrace with...

Source: Hindustan Times Hussain Sajwani, founder and chairman, DAMAC Holding speaks to Nuzhat Aziz on DAMAC's recent venture in India and the investment opportunities in Dubai DAMAC Properties has recently tied up with 60 agents in India across metros and tier I cities. What is going to be the strategy and how will DAMAC sell regional properties to the Indian investors? India is one of the fastest growing markets in the world. The purchasing power has also gone up accordingly If you look at the recent developments with regard to real estate industry alone in India, the picture is quite positive and that has also grown due to the buying power of the consumers in India. We are currently in the feasibility study stage and will share more details as things unfold. Are there any particular cities that DAMAC will focus on? Which are they and why? We are currently looking at Tier 1 and Tier 2 cities. We are in the evaluation phase. However, we feel that the growth is more or less uniform ...

Source: The Times of India Taking a lifestyle plunge in your swimming pool on the 40th floor brings the ultimate outdoors, indoors . What does it take to make this aquatic statement? reports What makes the exclusive penthouse a coveted segment of premium real estate? Several things. It could be a rooftop terrace or a private clubhouse or your very own swimming pool in your high rise pad. "It translates into a lifestyle experience with the added advantage of privacy," says Vinod Thakkar, CEO of real estate Square Feet "A swimming pool at ground level puts every swimmer vulnerable to peeping toms. A pool on the terrace is off-limits to anyone looking out the windows," he explains. Putting another spin to it is real estate professional Sunil Bajaj. "In space starved Mumbai, real estate requirements at times can be quite complicated. You need to have maximum open space on ground level for car parking, this means you have to move the garden and swimming pool 'up...

Why Invest in Nagpur? Nagpur stands second in the overall tally of most developing cities of India as per Knight-Frank report. 4,00,000 (Four Hundred Thousand) employment is estimated to be generated. The city has shifted from Tier III to Tier II status. Mind blowing appreciation of 500% in the land prices of Nagpur in the year 2006-2007.Around 20 to 30% shrewd NRI investors are already proud owners of this land. MIHAN CITY NAGPUR:- The MIHAN (Multimodal International Cargo Hub Airport at Nagpur) + IT Park + Health City + SEZs project rising over 4055 acres.- Multi Million Doller Investments and land purchasees in Nagpur: - FDI: Rs. 1500 Cr. - Ascendas: US$ 185 m. - HCL: Rs 500 Cr. Satyam & Maytas: 1018 acres - KSL Group: Rs. 450 Cr. - Mantri Realty: Rs 2350 Cr. - Gati Ltd: Rs. 100 Cr. - Jagdamba Realtors: Rs. 2000 Cr. - CIDCO & NMC: Rs. 5895 Cr. - NDF Govt: Rs. 5000 Cr. - L&T: 120 acre. - Wipro: 117 acre. - DLF:150 acre. SAHARA City-106 acre - Rahejas. - H...

Source: The Times of India The proposed International Cargo hub (MIHAN) has made Nagpur a real estate hotspot, says Shilpa Sachdev It is one of the fastest growing Tier III cities in India and believed to be India's future IT and Aviation city Nagpur is India's second capital and third big city in Maharashtra. It is famous for its oranges and hence is known as the 'Orange city'. Recent developments have fuelled the growth of real estate in Nagpur. One of them is the proposed Multi-modal International Hub Airport that has suddenly spurred the interest of investors in commercial and residential spaces in the city Located in the centre of India, Nagpur is a strategic location for the Multi-modal International Hub Airport. Boeing's maintenance base is another development that has added to the real estate growth in the city The upmarket zones of the city include areas like Dharampeth, Ramdaspeth, Gokulpeth, Ramnagar, ShivajiNagar, Byramjee town, Gandhinagar and Ravi Naga...

Source: Economic Times. The Union Budget, may not have done wonders for the real estate developers but has certainly proved to be a blessing in disguise for the industry with both the movers (builders) and shakers (buyers) sounding equally enthusiastic about it. To explore this Budget bonanza which the real estate sector is about to witness, Times Property takes a look at the new tax breaks on spending and investment avenues of the potential home buyers. A city based young couple, which together fetches an annual income of Rs 10 lakh per annum sound really enthusiastic about the entire tax break provision. Shikha, who works in a bank herself is happy about the fact that her additional spending power would not only make her feel liberated to shop but also help them save better for the prospective property that she and her husband will soon be buying in the Hazratganj area. She expands, “Rishi, my husband and I had zeroed down on a house last year itself, but since we didn’t have the pa...

Nagpur is South east asia's and India'sone and only cargo hub cum hub airport which willtransform it into a world trade city. The combined investments committed as of date invarious projects is more thanRs.50,000crores.Additionally,Nagpur MunicipalCorporation is pumping another 6000crores intodeveloping the metro city infrastructure. MIHAN project will give direct employment to close to1,50000 people and indirect employment to another4,50,000 people.The various SEZ's in butibori willprovide equal amount of Employment. All these adds up to a huge population migration intothe city resulting in current housing demand of500,000 new homes. Nagpur is expected to have a population of close to75lakhs by 2015 when majority of the projects will beon or nearing completion. All this is putting pressure on land prices which isslated to rise @100% plus for the next 4-5yearsatleast. Nagpur, the center of India is fast becoming the center of attraction for global investments due to the fol...

Source: Hindustan Times This week, we try to dispel some myths regarding commercial real estate by answering some frequently asked questions. How well is commercial space doing vis-a-vis the other real estate sectors? The market for office space in India has witnessed a compounded annual growth in excess of 30 per cent over the past seven to eight years. The growth has been highest in the met-ros, and there is an overall annual addition of approximately 58 million square feet of office space. Is commercial space the primary driver? Does retail count in it? For all practical purposes, retail counts as commercial space - meaning that it is used for commercial purposes, and that a different set of parameters from those that apply to residential space comes into play. However, the IT and IT-enabled services industry does lay claim to a pretty significant chunk of the overall demand. Retail, in the form of shopping malls and multiplexes falls in a comparable league. There is also a huge dem...

Source:The Times of India New Delhi: Home loan rates alone do not affect activities in the real estate sector; the performance of the stock market also has a direct bearing on property prices. So, while high home loan rates have hit the real estate sector in the past one year, properties in tony areas like south Delhi and south Mumbai have appreciated by up to 85% during this period. In the last six months alone, rates here have gone up by 15 % to 47 %. Besides increased demand in the posh areas during the stock market boom, the limited supply also contributed to the high price. During the period of stock market boom till around two months ago, there was a rush of cash-rich investors willing to buy houses for over Rs 5 crore. Though the subsequent market crash has led to decreased demand for ul-tra-delux apartments, limited supplies and absence of distress sellers have meant that prices continue to rise. Said Amit Bhagat, head of ICICI Properties, in the past two months, hardly any dea...

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...