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

Following in State Bank of India's (SBI's) footsteps, other state-run banks may also come out with scheme offering home loan at a fixed rate of 8%. The Indian Banks' Association (IBA) would review the response of borrowers towards the SBI scheme after three weeks and if it finds that there has been a good response, other banks will follow suit, according to a top IBA official. "We would review the consumer's response (towards the scheme) and then take a decision accordingly," IBA chairman T S Narayanasamy told ET on the sidelines of a meeting here on Monday. Mr Narayanasamy is also the chairman of Bank of India (BoI). He said the review would be conducted after the completion of three weeks of the launch of the scheme.Last week, SBI had announced that it would offer home loans at a flat rate of 8% to all borrowers and would freeze this rate for one year. The chairman of one of the major banks, who asked not to be named, said SBI can afford to lend at such chea...

There are still buyers for the super luxury home segment in Pune. Developers claim that despite depressed market conditions, this niche segment continues to attract investors. However, some of them have had to bring down rates to lure customers. Marvel Realtors, automated super luxury homes maker says that sales have picked up in the last one and half months due to correction in rates and banks easing lending. "Initially, buyers were holding decisions. With some correction in rat,es, they feel they are getting value for money. We have offered discounts of 10% to 15% less, than what we were selling at peak season rates," Vishwa-jeet Jhavar, CEO, Marvel Realtors said. Marvel has sold around Rs 20 crore worth properties in the past one and half months. "The first phase of Marvel Diva of around 3 lakh square feet is ready for possession by May 2009 and we sold 2.40 lakh square feet. These flats are in the range of Rs 80 lakh to Rs 5 crore," Jhavar said. The super 1uxury...

PROPERTY developers building residential complexes will not have to pay service tax on sale of apartments now, as the tax department has cleared the ambiguity on taxability of these companies. The Central Board of Excise and Customs (CBEC) in a circular has said construction service provided by a builder to a person buying the apartment till the execution of sale deed would not attract service tax. Usually, developers enter into an 'agreement to sell' with the buyer of the property. But the property remains under the ownership of the developer and it is only after the completion of the construction and full payment of the agreed sum that a sale deed is executed and ownership of the property transferred to the buyer. "Therefore, any service provided by such seller in connection with the construction of residential complex till the execution of such sale deed would be in the nature of 'self-service' and consequently will not attract service tax," the circular sa...

Ahmedabad: After Lavasa hill city near Pune, construction and infrastructure major Hindustan Construction Company (HCC) is cementing plans to built a waterfront city at Dholera with an investment of Rs 40,000 crore. The company has already inked an MoU with Gujarat Infrastructure Development Board to develop the city over 4000 acres in Dholera Special Investment Region (SIR) located at the Gulf of Cambay about 129 km from Ahmedabad. Dholera is in the influence area of the Delhi-Mumbai Industrial Corridor (DMIC). HCC chairman and managing director Ajit Gulabchand, who also made an announcement to the effect at the Vibrant Gujarat Global Investors' Summit 2009, said that project would involve creation of a economically self-sustaining city with tourism, hospitality, leisure, education and research at its core and would have an employment generation potential of 50,000 jobs. "The concept of new urbanism is gaining momentum globally and we are happy to initiate this modern and sus...

Indian real estate market a safe bet, say consultants Cash invested in the Indian real estate market "is safe", a property consultancy firm has insisted.Affinity Solutions said putting money into property was one of the most secure ways of protecting against the global recession.People now have become "quite sceptical" over investing and dealing with shares, meaning real estate was now seen as safer, the company added.Affinity specialises in helping investors buy and sell in Indian cities like Noida, greater Noida and Gurgaon.Company director A K Jain said:"One of the important reasons why people choose to invest in real estate over stock markets is that real estate is tangible - you can touch it."The recent crash of the Indian stock market is also thought to be the main reason behind changed investor attitudes, the company added.Confidence in Indian property was further boosted this week by real estate advisers Investment Square, which unveiled two "...

The booming real estate market in the country has prompted industry players to introduce a slew of innovative products to people willing to pay. From real estate developers to real estate fund managers, from banks to housing finance companies, it's a party time for all. But behind those euphoric times, some banks, with operations in India and outside, are offering innovative products to non-resident Indians (NRIs), which could turn tricky in case Indian real estate market falls into a trough, sources said. It involves the foreign and Indian operations of the same bank, the NRI and his friends, relatives and associates based in India. To start with, NRI, with the help of his friends and others, establishes an Indian company that could do business in the real estate sector. Now the bank in India gives some loan to the company to buy land in India. On the other hand, the NRI keeps a fixed deposit with the wealth management division or private banking arm of the same bank's oversea...

Pune: City based Vascon Engineers announced on Saturday a Rs 165 crore residential project, where it wants to build high-end homes of sizes 2500 sq ft and more. The first phase of the project, Willows, is nearing completion and will be delivered in the next six months, R. Va-sudevan, MD, Vascon said. The project will have 80 flats of 2500 sq ft each and 8 penthouses with area of 600 sq ft. The pricing for the project is Rs 4250 per sq ft, he informed. Asked whether the time was right to launch such a luxury residential project in a market stagnated by low demand, Vasudevan said the project is in such a niche that has not lost any demand, the demand for high end real estate is intact, though that for the 1200 sq ft-1600 sq ft bracket has suffered, he said. Each house in Willows has been priced at about Rs 1.2 crore. Vasudevan said the company will announce mid next year the second phase of the project which will comprise three towers of 25 stories each. "We are waiting for the fine...

California based INC Developers has entered the heavily slowed Indian real estate market with a super luxurious apartments scheme worth Rs 100 crore, which it would jointly develop in Pune with Amar builders over next 24 months. The super luxurious apartments with 6,500 square foot size each, would be priced between Rs 5 crore and Rs 6 crore. INC Developers, incorporated three years back in California, have completed more than 30 residential projects worth more than $ 400 million. The newly announced project titled 'Manhattan' is its first entry in the Indian real estate sector. Speaking to reporters, INC Developers executive director Jay Kinra said, "Although the Indian real estate mar-ket has slowed down, it will have a temporary effect. And we are building super luxurious apartments, which would be sold very easily." The Manhattan project would have 18 apartments altogether, which would be customised as per the needs of the buyers. "We have already sold ffour ...

To Invest $1 B In 5 Yrs, Forms Team For India Ops THE global economic slump and downturn in the real estate hasn't deterred Morgan Stanley Real Estate from going ahead with its India plan. It's planning to invest an additional $1 billion over the next five years and has recently formed a large team for Indian operations. These investment plans the company had earlier invested about $750 million in the Indiacome despite views that India could see fewer commercial investment transactions in the near term. There is an opportunity to develop asset management expertise in real estate to help grow the property industry, said Morgan Stanley Real Estate in India interim head Sean Williams, who is also MD of Morgan Stanley Capital KK. The company has formed a 12-member team for this purpose and has also appointed Naresh Naik to head the asset management division. "Infrastructure is key to support new residential, industrial and retail facilities. Limited institutional ownership of ...

As we all know the recent US Real Estate meltdown where lot of people are finding difficult to pay their EMI's on loan taken from various landers ie. financial institutions including banks and loosing their properties even though paid EMI's before. the stress will be enormous to cop alone with the current situation and everyone will be asking how to escape this crisis? who can give advise or suggestions? There is helping hands for them introduced by http://www.youwalkaway.com/ which is trying to come out with package & ideas to save people from loosing their homes in US and able to stressed out from mortgage payments. The Site http://www.youwalkaway.com/ is quite useful is providing alternate solutions for following points: A) if you are in trouble to sell your house in current difficult real estate market. B) The current real estate steep fall which has shrunk the value of your property.And many In technical terms the site provides solutions as: 1. Forensic Loan Document...

Moreover to keep you posted N.I.B.M. ROAD would be soon having Himesh Reshamiya Music Academy , International Hotel Chains, International Wine lounge , Sports Bar and lot many DEVELOPMENTS WITHIN THE VICINITY…..

Foreign direct investment (FDI) in India increased 259 percent in September to $2.56 billion, compared to the same month last year, wit h Mauritius being the largest investorFDI for the same month last year stood at $713 million.The FDI inflows during April-September stood at $17.21 billion, a growth of 137 percent over $7.25 billion witnessed in the same period last year, an official statement said. The services sector attracted the highest foreign investment at $2.34 billion. Construction activities including roads and highways attracted $1.64 billion, followed by housing and real estate at $1.62 billion, and computer hardware and software at $1.36 billion. The top investing countries in terms of FDI during April to August have been Mauritius having invested $5.27 billion, Singapore at $1.72 billion, the US at $1.15 billion and the Netherlands at $580 million. Source: indianrealtynews

i have been wondering from last one year to co-relate real estate and sensex (stock exchange) which are both major choices for investment as people's general views that sensex is falling sharply so the real estate will be also. that made me think more how people are relating the both investment instruments which have quite a big differance in basics and fundamentals. i would really like to share my all blog readers about it and that'y putting my point of view for further discussion: About Sensex: the stock market is treaded with the valuation of piece of paper which has print value of Rs. 10 per share majorly of various companies and people buys it on the market value 0f 100 multiplications, now i have a question that if any one holds share bought at market value and keeps it and see sensex goes up and feels that price of share has risen to extent where there is huge increament in price but at that point also if someone keep holding it and expact return then let me tell you the...

The Times Of India Group has announced the winter edition of Pune's most prestigious property exhibition, The Times Property Showcase. The exhibition will be held on November 22 and 23, 2008 at the Hotel Le Meridien, RBM Road in Pune. The expo has been conceptualised with the aim of providing a transaction focused platform to the top builders and developers in Pune. Select projects spread over the entire city suiting the needs of today's discerning home buyers and investors will be showcased at this landmark exhibition. The exhibition will offer the perfect environment for leading promoters, builders and developers in Pune to display exclusive residences as well as high-end commercial spaces and reach out to then-niche customer in this proactive forum. The exhibitor will get the opportunity to have a direct one to one interaction with potential property buyers and investors in Pune. The Times Property showcase will be the perfect opportunity for you to check out premium project...

Pune will soon acquire the status of being a metropolitan city in India. According to an Assocham report on 'The 7th emerging metro city in India' it owes its upgradation to a fast development pace in the area of infrastructural facilities, friendly business environment, education avenues and employment opportunities. Contributing factors include the high real estate prices and a large population base as compared to other upcoming cities. The study was carried out in four tier II cities including Pune, Ahmedabad, Lucknow and Chandigarh ranking them on eight parameters necessary for a metro city. They included social infrastructure, infrastructure availability, real estate cost and availability, transportation facility (connectivity), presence of quality educational institutes, employment opportunity, facility of financial services and business environment. Pune occupied first position overall though it needs to improve on transportation, social infrastructure and financial serv...

This will be little bit surprising to read my subject line in current market scenario however it is true that this is a right time for NRI's to invest in properties in india as the major factor will be Exchange rate of Rupee against the foreign currencies which has touched the peek and already given the way to get discount indirectly for buying any property in a of depreciating rupee for about 10% and along with the Real Estate developers are giving lot of soaps to their property to sell.

This is with reference to my previous article about Massive Development near about NIBM Area and very improved existing connectivity of roads with the centre location of city i.e. MG Road and Railway station. The Proof to this is that recently the Road coming from MG Road to NIBM from Golibar Maidan side have been converted to one way to check traffic jams and the traffic has been succesfully routed through other roads coming from MG Road Pul Gate Busstand and Command hospital towards NIBM. My reason to draw all readers attention is that it really show great potential for sustainability of growth for future real estate developments in NIBM area. if we have many roads parallely to connect Central location of city then the growth will never get any setback, On the contrary, the today's hot spot like Koregaon and Kalyani nagar are already terribly suffering from regular traffic jams as there is no other alternate roads available to solve the problem now. Hope you will consider this ma...

Source: The Hindu Business Line Fall-out of Cash Reserve Ratio cut Kolkata, Oct. 13 While banks do not anticipate an immediate decrease in lending rates after the 150 basis-point cut in Cash Reserve Ratio by the Reserve Bank of India, real estate developers expect the measure to soften home loan rates for its consumers. Demand for real estate property has decreased by nearly 25-30 per cent in the country over the last 18 months, when home loan rates soared from an average of 7 per cent to as high as 12-13 per cent. "The home loan rate in India is among the highest in the world and we expect it to be reduced by at least 100 basis points after the cut in CRR," said Mr Pradip Kumar Chopra, Chairman, PS Group. Mr Abhijit Das, Regional Executive Director, JLL Meghraj, said, "The recent move by RBI is expected to enhance liquidity to the primary and secondary real estate funding, while arresting further de-growth in real estate investments in the country." SUSPENDING LOAN...

Wherever you throw the look and find a new shade of green. This is Teak County. Being true to its name, the site has a thick plantation of Teak woods. Keeping its natural greenery untouched, we just added the luxury to the project. A Farm House plots project, where you can build your home as per your choice or you can even choose us to build it for you. Full of opulence and modernity wrapped in the natural green terrains. Take a plunge in sheer marvels spread on sprawling 120 acres. Location: This Farm House project is located on 3 Km from Pune - Banglore Highway which goes towards to Mahabaleshwar, will hardly take driving time of 25 - 30 minutes from NIBM as it is just 22 Km away from NIBM, the ideal location to enjoy weekends and vacation holidays, the project is surrounded scenic beauty of hills looks like a heaven valley. FARM HOUSE LAND UNIT SIZE : 10,000 SQFT.With Optional 1BHK, 2 BHK or 3 BHK Bunglow Construction. Amenities: 1) Internal tar roads with street lights 2) Waterline...

Source: The Economic Times PIOs May Get To Buy Property In India Without RBI Approval Visa THERE'S good news for the people of Indian origin (PIO). The government is planning to allow them to buy property in India without mandatory RBI approval and without the hassles of producing a valid visa. The current Foreign Exchange Management Act (FEMA) guidelines are also being amended to remove a 'gender bias' where non-residents whose mothers or grandmothers were citizens of India will also be allowed to buy real estate in the country. The existing rules permit only those PIOs to buy property in India whose father or grandfather were Indian citizens. The proposal mooted by the ministry of overseas Indian affairs seeks to make buying of real estate by over-seas Indians hassle-free and comes as a breather for real estate firms who can now expect more buyers from abroad at a time when domestic demand is low. Current laws restrict investments by PIOs in real estate, causing delays ex...