zameenkaushar2009.blogr.com - Blog (RSS 2.0)

PLAN YOUR FINANCE

zameenkaushar2009 — Sat, 12 Sep 2009 07:51:05 +0200

Vikas Agarwal has some tips to help you plan your finances to manage cyclical trends in interest rates

The current market conditions are good for those looking at <a href= “http://www.zameen-zaidad.com/”> investing in a house </a>. The property prices have corrected over the last few quarters due to the global economic slowdown. Many good deals are available in the market now. Also, many new housing projects are being launched by developers, targeting middle income buyers. The pricing of these properties is attractive and affordable. In conjunction with better property prices, the availability of housing loans at <a href= “http://www.zameen-zaidad.com/”> attractive interest rates </a> makes the investment a good value proposition for those who want to own a home.

Analysts believe there are many factors that indicate a rise in property prices as well as home loan interest rates in the medium to long term. The economic conditions are improving and demand is picking up in the property market which is expected to drive the property rates upwards.

Similarly, higher fiscal deficit, higher demand and higher inflation rate will force the Reserve Bank of India (RBI) to tighten the monetary conditions in the medium term. However, currently, the banks are sitting on a pile of cash and the demand in the retail loan segment is not as much. Many banks are planning to come out with <a href= “http://www.zameen-zaidad.com/”> attractive home loan schemes </a> to attract homebuyers during the coming festival season. Therefore, those looking at investing in property should move now for a good deal in both property and home loan.

Due to the effect of globalisation and aggressive marketing in the home loan market, there is a lot of volatility and cyclical trends in interest rates. Analysts believe they will go up in the next few quarters. Therefore, it is important to put some financial planning in place now. Banks do not revise (upwards or downwards) the EMIs immediately when the rates change. Usually, they first look at an increase/decrease in the loan tenure. In case the interest rates go beyond a point where the EMI will not cover the interest portion or the loan tenure goes beyond the retirement age of the borrower, they call for an increase in the EMIs.

Here’s how you can build a corpus that can be used to make a part repayment of the loan or fund higher EMIs in specific periods:

Invest in equity-based instruments

Analysts advise investing in equity-based <a href= “http://www.zameen-zaidad.com/”> investment instruments to build </a> a corpus over a long term, as equitybased instruments gives positive returns in the long term after factoring in the inflation rate. The global economy is slowly coming out of recession. Therefore, say analysts, the stock markets will remain bullish in the medium to long term.

Those planning to buy a house can look at investing in a systematic investment plan (SIP) of a good equity mutual fund. This will help in creating a corpus over a medium to long term.

Invest in gold

<a href= “http://www.zameen-zaidad.com/”> Investing in gold is another way </a> to build a corpus. The best way to invest in gold is to buy gold exchange-traded funds or pure gold bars. Historically, gold has yielded high returns over a long term and investments in gold do not have much downside risks.

VPF contributions

The salaried employees can look at depositing some extra money into their provident fund account through voluntary contributions. One can withdraw up to 36 times his monthly salary from the provident fund after completing 10 years of service, to make a repayment on his housing loan. In case of a need, withdrawal of the extra amount contributed as voluntary provident fund can be an option to make a part repayment of the loan and reduce the EMI to manageable levels.

Loan-cum-savings account

Many banks offer a loancum-savings account product. Under this scheme, the borrower can park his additional funds in the savings account and get the benefit of the same interest rate as is being charged on the housing loan. This account is handy in building a corpus where the borrower is not sure of committing a dedicated amount every month.

Courtesy:- TOI dt:- 05-09-2009

IIDL AT YOUR ‘SERVICE’

zameenkaushar2009 — Sat, 12 Sep 2009 07:49:43 +0200

IFCI Infrastructure Development Ltd ( IIDL), a subsidiary of the country, IFCI Ltd, signed a Management Contract with the internationally renowned Fraser Hospitality Pvt Ltd to manage its ‘ serviced Apartments’ property named ‘Fraser Suites’, being Developed at Mayur Vihar, New Delhi.

The 9 story, 90-unit property ,being developed by IFCI Infrastructure Developed Ltd, ( IIDL), is scheduled to be completed by end-March2010.The eco-friendly, Ultra-modern Property sets new benchmarks in ecological design. The superstructure , based on the Vaastu Energy Grid for passive bio-climatic solar architecture aims at optimising solar advantage through the use of solar heating .

Courtesy:-HT dt:-05-09-2009

GRAND VENEZIA IS LAUNCH A NEW PROJECT IN...

zameenkaushar2009 — Tue, 08 Sep 2009 11:56:42 +0200

Grand Venezia is poised to be a truly international mall, a brand name in itself.
Whether it's a stroll along a cobblestone walkway, or a relaxing ride in an authentic Italian gondola, The Venetian Mall offers a shopping experience like no other. Enjoy world class dining, shopping and elegance in an atmosphere of sophistication and refinement. Enjoy all that life has to offer... indulge in the uniqueness of Grand Venezia Mall! Grand Venezia will be a whole newmeaning with an irresistible offer no other leisure destination can match.

Amenities

A SHOPPING EXTRAVAGANZA

The fun of shopping! As you glide through the moonlit canals of Grand Venezia Shopping Mall, your Gondolier gently serenades you with romantic Indian and Western classic songs and music. This instrumental collection of favorite Indian and Western love songs will take you there through the strings of the mandolin, the chords of the accordion, and the sweeping notes of the violin. Romance yourself around the world with this elegant shopping mall.

Entertainment

Grand Venezia offers an action packed entertainment zone that has enough excitement for adults and kids alike. Whereas lifestyle clubs, hi-tech virtual games and a bowling alley will ensure that adults have a ball of a time; there will also be a special kids zone, surrounded by live cartoon characters, happy meals and fun shows. Grand Venezia Mall will also poised to be the hub of cultural events and entertainment. An open amphitheatre will provide a platform for hosting cultural events, brand promotions, product launches, movie screenings and live shows.
One can also enjoy the latest in entertainment at Multiplex having a capacity of more than 1000 se

Investment

A golden opportunity to make world's best brands your tenant...
Assured Returns
Grand Venezia offers you an undisputed advantage in terms of high returns on investment. It has the features which no other property in India can match. Leasing, Renting or Ownership, whichever the option you have in mind, your investment is bound to generate maximum benefits, right from day one. Giving you an advantage that anybody else would find hard to match.
High Appreciation Value
Grand Venezia is located in the sunrise destination of Greater Noida, where property values have steadily risen and continue to do so. Which makes Grand Venezia, the current and future hotspot with high appreciation value. In fact, owing to the spectacular theme based structuring of the mall, making it the first of its kind in India, it will become the most sought-after destination, causing property values to soar beyond limits.

For more info log on to http://www.zameen-zaidad.com

MINT TOWERS GURGAON - III

zameenkaushar2009 — Tue, 08 Sep 2009 11:55:12 +0200

Mint Towers, a part of Eden Heights Gurgaon, are being developing by GPL Infrastructure. Mint Towers are affordable and efficiently planned. Other features of Mint Towers are - Faster Construction, Spacious Bed-Rooms (11x14 & 10x13), Three side Open Apartments, Airy & Well lit flats, 100% Power Back-up, 24x7 Security, Tennis & Basket Ball Courts, Spacious Club Facility, Connectivity to proposed Metro Station & Ideally located in vicinity of National Capital. These Towers host limited edition, affordable, efficiently planned 2 Bedroom + Study Apartments. Specially designed & priced keeping in mind the needs of the young corporate individuals. Part of an 11 acre township with world class facilities at Eden Heights, strategically located just off the Southern Periphery Road, Sector 70, Sohna Road, Gurgaon.
Some of the Key Factors, which make the apartments at Mint Towers different from the other offerings at present times are:

Construction in Full Swing
Sample Apartment Ready
Compact Size of 1050 sq.ft. (2 Bedrooms + Study)
Amazingly Efficient Floor Plan (Bedroom Sizes: 11x14 & 10x13)
Three Side Open apartments, to make sure all apartments are Airy & Well Lit.
All Facilities that one would expect in any good community.
Well planned landscaping within the Community.
Wi-Fi Ready Apartments
24 x 7 Security
100% Power BackUp
Large Size Club within the community with world class facilities.
Tennis Courts
Basket Ball Courts.
Connectivity to Proposed Metro Station
Affordable Prices to encourage actual users to make the most of it.

Please feel free to browse through the various links provided on the left hand panel to find the desired information. If you have any questions, please feel free to call our professionals on the numbers mentioned.
Our executives are standing by to answer any queries that you may have. You may also choose to send us a quick query through the query box on the right hand side and be assured of a quick response.
We surely look forward to having you to Live Easy @ Mint Towers.

Our Company is on the approved list of leading banks/financial institutions for grant of home loans. We have got an able team to process home loan proposals. Interested persons for Mint Towers, Gurgaon can contact our executives on mobile no 91-9650398325, 9810445860, 9911158601 or email at – info@zameen-zaidad.com

For more info log on to http://www.zameen-zaidad.com

WHEN & WHERE TO BUY, SELL AND INVEST IN...

zameenkaushar2009 — Sat, 05 Sep 2009 12:09:48 +0200

Prudent buyer of house property is one who looks after the current market conditions and the prevalent bank rate of interest on home loans. Following are the points to be taken care of for buying, selling or investing in house property :

Prevalent Market Conditions - When there is more availability of dwelling units in the market, one should go for buying or investing in house properties. If more number of houses are available, one can make choice of size and location of the house property. Under such scenario, the price to be paid for buying the house will be reasonable owing to competition among the builders and developers for selling their products.
Business Place/Working Place – The house property should be purchased in the vicinity of the business/working place to save the time in journey to and from house to business/working place. When less time is spent in journey, more time can be devoted to business/office works. This will enhance the business prospects or efficiency in office work.
Approved Real Estate Agents – While going for buying the house property, one should enquire the details of projects from the govt approved real estate agents or from those real estate agents which are having long standing in the market to get the genuine deal and to avoid any future complicacies.
Credible Builders and Developers – One should purchase the house property from the reputed and credit-worthy builder/developer to have good quality product. Even if some more price is to be paid for buying the house property, one should opt for the quality product. Price should not be compromised for bad quality product.
Prevalent Bank Interest Rate – When bank interest rate on home loans are low, only then one should go for buying the house property while availing home loan to have overall lesser cost of the house property.
High Price Market – To sell the house property one should wait for high price market to get the best price.

On observing the above-said aspects, one will pay less for buying the house property and will get more on selling the property.

For more info log on to http://www.zameen-zaidad.com

http://www.propertycafeteria.com

CHEAPER HOMES DO THE TRICK

zameenkaushar2009 — Fri, 28 Aug 2009 09:56:30 +0200

Locals demand affordable apartments, NRIs focus on premium segment

The Realty sector is alive and kicking in the temple town of Thrissur, considered the cultural capital of Kerala. Despite the economic downturn, sales of flats and villas have not been hit as much as in several other places in the country.

After tiding over the recessionary phase, the builders are now drawing up plans for new projects in and around Thrissur, including Guruvayur, which is around 25 km from the city. Guruvayur is famous for the Sri Krishna Temple and has devotees from all over the country flocking to it.

Thrissur is home to three banks — Catholic Syrian Bank, Dhanalakshmi Bank and South Indian Bank and several private chit fund companies. It is also the hub of gold jewellery manufacturing in the state. Many prominent jewellers have their roots in Thrissur.

The suburban areas of Thrissur are also fast developing. A new IT park, a branch of Kochi Infopark, is coming up at Koratty, half an hour drive from the city. It also has the advantage of proximity to Cochin International Airport, which is 20 km away from Koratty.

The demand for premium apartments (above Rs 60 lakh) is mostly from NRIs who want to settle in Thrissur. The local demand is for cheaper apartments — ranging from Rs 20-25 lakh. As compared to 2008, the square foot rates have shown a rise.

The builders argue that the rate increase is more due to rise in the cost of raw materials. According to Mr Varghese, vice-president (marketing) of Skyline Builders, the cost of cement, steel and the wages of labourers have increased over the last one year. “Last year, before the slowdown, our average rates in Thrissur were Rs 1,450 per sq ft. Now it is around Rs 1,000 higher,” he said. Skyline completed two projects during 2008. In the last 20 years it has completed 14 projects. Mr Varghese said land cost has more or less stabilised after the boom period in 2008. “Instead of buying land at fancy prices, we market our projects in such a way that it becomes a destination for the buyers. Our apartment project at Gosayikunnu on the outskirts of Thrissur was sold that way,” he said.

Last year, during the recessionary phase, several builders adopted measures such as downsizing the apartment size to create demand. Shobha Developers was one prominent builder to adopt the strategy for its 600-apartment complex at Puzhakkal on the way to Guruvayur.

Without raising the sq ft rates, Shobha Builders reduced the size of the apartments, which naturally reduced the prices for the apartments. The size of the proposed flats was reduced from 4,000 and 3,000 sq ft to 2,000 and 2,500 sqft. However, the square ft rate remained at Rs 3,000. The company sources said this resulted in higher sales during the time of recession. The company has sold around 25 flats by adopting this strategy. It has so far sold 40% of its project. The prime location in Thrissur remains the Swaraj Round, its main road. Any project within 1-2 km of the round commands a premium price. Other locations have sprung up in the fast developing city, which are getting good prices. Thrissur Builders, which have around 20 projects in Thrissur, has four ongoing projects at several locations. The projects in the area near North bus stand and Viyyur are getting higher prices now. According to Joshey, marketing officer of Thrissur Builders, the demand now is for cheaper apartments. ``Our apartment projects at West Fort and Kanimangalam have prices in the range of Rs 20 to 25 lakh. The rates hover around Rs 2000 per sq ft,’’ he said. The company’s villas coming up at Olari are priced higher at Rs 3000 per sq ft.

Many builders are setting up projects in Guruvayur. Earlier, the customers used to book the flat without even looking at the project. That has changed now and most of the people now come and see the construction before booking. Shantimadom Builders has several villas in Guruvayur.

Courtesy:- ET dt:- 23-08-09

DLF BAGS GURGAON LAND FOR RS 1,750 CR

zameenkaushar2009 — Fri, 28 Aug 2009 09:54:53 +0200

DLF, the country’s largest realty firm, today bagged a 350-acre plot for Rs 1,750 crore in Haryana for developing a recreation and leisure project, making it one of the costliest land deals in recent times.

“The letter of acceptance has been issued to the successful bidder (DLF) after getting the approval from the state government,” Haryana State Industrial & Infrastructure Development Corporation Ltd (HSIIDC) Deputy General Manager Priya Sardana said.

Earlier this week, DLF emerged as the sole bidder for the 350-acre project after the bids of other parties — Unitech and Malaysia-based Consortium comprising Country Heights, Country Club of South Africa and Rajarhat IT Park — did not qualify on technical grounds.

The qualified bidder, DLF, had quoted its bid at Rs 12,000 per sq mt against the reserve price of Rs 11,978 per sq mt for the project.

Earlier, BPTP had bagged a 95-acre plot in Noida for Rs 5,006 crore in 2008, but later surrendered because of inability to arrange funds for the payment.

DLF had acquired 38 acres in the heart of Delhi for Rs 1,675 crore. Unitech had bagged 1,750 acres in Vizag for Rs 3,350 crore, while the company won 340 acres in Noida at Rs 1,582 crore in 2006.

HSIIDC had invited competitive bids in January this year for allotment of 350 acres of prime land on freehold basis, at village Wazirabad in Gurgaon, for setting up of a recreation and leisure project comprising commercial and residential buildings and golf courses.

The corporation reinvited the bids after the sole bidder at that time — DLF — pointed out certain difficulties in project implementation.

In the second round of bidding, Unitech was disqualified as its partner was found ineligible for developing the project, while the bid of the third party did not qualify as the net worth of the Malaysia-based company Country Heights was less than the required amount of Rs 500 crore.

Courtesy:- BS dt:- 21-08-09

Lodha Developers on fund-raising spree

zameenkaushar2009 — Fri, 21 Aug 2009 11:52:43 +0200

Former Old Lane Fund Partners Buy 26% Stake in Dombivli Project For $25 Million

Mumbai-based Lodha Developers is tying up funds from private equities (PE) at the project level ahead of its Rs 2,500-Rs 3,000 crore planned initial public offer (IPO).

Few former Old Lane Fund partners have made a $25-million investment for 26% stake in the group’s 115-acre housing and office complex in suburban Dombivli in Mumbai.

The investment values the project, which falls under its CASA brand for mid-income housing, at Rs 460 crore (Rs 4 crore per acre).

“In terms of this , the residential rates for our Dombivalli project will range between Rs 2500-Rs 3000 per sq foot. We are also in continuous talks with various funds who are interested in investments at the project level,” said Abhisheck Lodha, director, Lodha Group.

None of the PE investors from Old Lane, who have formed a new $400 million for realty and infrastructure, were available for comment.

With the latest private equity deal, Lodha Developers now has private equity investments to the tune of $600 million in various special purpose vehicles from the likes of Duetsche Bank, HDFC Realty’s international fund and ICICI Ventures. “The IPO may improve the valuations of the Lodha’s Hyderabad project in which the fund has invested resulting in higher prices for the sale of residential units in the complex,” says senior fund manager at HDFC Realty.

An official in the Lodha group, who did not wish to be named, said the company is expecting a valuation of up to Rs 20,000 crore at the time of tapping the capital markets.

But analysts say a lot will depend on whether the appetite for real estate returns among investors. Now the IPO which is expected to hit the market by late October-November, could provide an exit route particularly for Duetsche Bank since the deal was structured around convertible debentures. Servicing these investments was looking difficult, as a slump in the property market had receded the hopes of meeting the pre-decided returns on them. The company has appointed Enam Securities and JP Morgan as its merchant bankers.

Courtesy:- ET dt:- 20-08-09

MINI INDIA IN THREE ROOMS

zameenkaushar2009 — Fri, 21 Aug 2009 11:51:18 +0200

A story of how five DU students, of different faiths, managed to locate a rented flat and live there in harmony, Bhavya Nayna Channan

As soon as the DU cutoff lists were out in July, this bunch of friends, all boarding school boys from Darjeeling, began work on that most vital thing, next in importance only to taking admission -- house hunting in this big, bad city, where brokers can make wolves weep.

The boys -- Ashwini Darnal (Hindu, from Darjeeling), Ritesh Agarwal (Marwari, from Rajasthan), Faizal Alam (Muslim, from UP), Ben Kipgen (Christian, from Manipur) and Atisha Penjore Bhutia (Tibetan Buddhist) had been studying in St. Joseph's (North Point) Darjeeling since Class III, so they all wanted to stay together in Delhi. They first found accommodation as paying guests, two guys sharing one room.

Initially, peace prevailed - the landlord was good to them and everything was going according to the agreement. But trouble started soon enough. There was - harassment over electricity and water bills, and even the neighbors began to com plain about their late-night studies and habit of watching l football matches.

The boys decided to move - out and rent a flat. "The bro kers really took advantage of the situation," says Ashwini. Places that cost Rs 10,000 to rent were shown to them as 18-grand-a-month flats. Worse still, each locality had several brokers who all rat tiled off different rates, leaving the boys' heads spinning with confusion.

With a total budget of Rs 20,000, inclusive of everything (ration, cook, maid, electricity and water bills), they finally managed to rent a three-bedroom flat in Vijaynagar, a student-friendly locality. All facilities were available at reasonable rates, and most of the colleges were located close by. It was as close to perfect as it gets, despite teething troubles with the cook and the maid.

The boys have appointed Alam as the `flat accountant'. He looks after all the expenses of the little group and sees to it that everyone puts in their share. Agarwal looks after the cleanliness and maintenance of the flat. The others help with getting provisions and look after various other needs of this `household'. Since the cook is of the same age as the boys, they are good friends with him and he understands their needs.

With a neat system in place, the boys have been able to stay within their budget of Rs 4,000 a month each, aside from spending on fridge, TV and basic furniture.

They call this flat "a mini India". Says Alam, "We are proud to be together and helpful to each other." In their free time, they sometimes cook, drink beer and party. A Playstation in the flat and extra-curricular activities in college take care of recreation. Their motto has been `sursum corcla', meaning `lift up your hearts'. "We've learnt this from school and apply it in our flat," says Ritesh.

One advice from this `veteran' group to other students is that those who live in a rented flat should keep their eyes and ears open and not be too trusting of strangers.

Courtesy:- HT dt:- 15-08-09

TOP RETAILERS TEAM UP TO FIGHT SLOWDOWN

zameenkaushar2009 — Wed, 19 Aug 2009 10:38:40 +0200

Cut-throat competition in India's organised retail industry seems to have given way to harmony, with top players such as the Future Group, Aditya Birla Retail, Spencer's and Reliance Retail coming together to cut operational costs and improve margins. The retailers have formed a rainbow coalition that will align their sourcing operations and share private labels, logistics, warehouses and hiring details on a transactional payment basis, said top executives with some of the largest players in the sector. The move mirrors a similar step taken by manufacturing firms in the late 90s to share markets and cut costs.

Courtesy:- ET dt:- 14-08-09

INCHING UPWARDS

zameenkaushar2009 — Wed, 19 Aug 2009 10:36:17 +0200

Office real estate is making steady recovery after hitting an all time low during the market slowdown. ET Realty gives a low down, Namrata Kohli

Call it recession or an oversupplied market (in terms of office space), or the general negative sentiment prevailing in the market - office real estate hit an all time low with values nearly bottoming out as compared to its peak around 8-12 months ago - in fact, the commercial real estate values dropped by an average of 25% in all markets and touched 50% in some.

The transactions were few and far between as majority of the corporates postponed their business expansion plan and were downsizing - as most were not sure if they would be able to sustain themselves, leave alone embark upon any expansion plans, while those who were earlier looking at expansion/relocation fell in a wait-and-watch mode, in anticipation of further correction.

Giving a sense of the depreciation in commercial real estate values, specifically office space, Arjun Kumar, director of AsiaPac International India says, "Commercial and IT space has witnessed almost 40-50% correction compared to rates 6-8 months ago, across NCR." He quotes the lease rent in Gurgaon for warm shell as anything between Rs 60-75/sq ft/month and Noida (on the expressway and Sector 62) as Rs 45-55/sq ft/month while one can get a steal at Sectors 63, 64 (which are primarily industrial sector but IT/ITeS are allowed to operate) at Rs 25-30/sq ft/month for warm shell space, and here additional space is being added almost every day.

Delhi CBD (Connaught Place) also witnessed correction of 40-50%. Says Kumar, "One can have space here between Rs 100-175/sq ft/month depending on the building (A or B Grade) and mainten a n c e , upkeep of the respective buildings. In South Delhi, Saket and Jasola District Centre in particular, have been witnessing almost 30-45% correction in lease rent as well as capital value. The lease rent being quoted in Jasola is Rs 140-175/sq ft/month wherein capital value is anything between Rs 11,000-13,000/sq ft for commercial office space."

Apart from the values dropping, there has been a substantial drop in transactions. If at all transactions were happening, they were restricted to the suburbs such as Gurgaon's Udyog Vihar, as well as builder sectors and Noida - on the expressway, Sector 62, 63, 64. Says a broker, "The companies which are sure of their business plan and think that market will improve sooner or later are moving forward with their plans, especially, the major Indian corporates, which are catering to the domestic market. These include primarily telecom and software companies."

What is the exact situation in Delhi CBD and secondary micromarkets - Samantha Jerath of Jerath Properties says office transactions have slowed down, undoubtedly. "But it will be wrong to say the values have come down by 50%. This is because even though a rate of Rs 350/sq ft/month was quoted earlier, no actual transactions were recorded at the value. The highest was Rs 250 and I would say office space values in CP have come down from Rs 175-250/sq ft/month to Rs 120-150/sq ft/month. In secondary micromarkets, it has depreciated from Rs 175/sq ft/month to around Rs 110/sq ft/month. There has been correction at least to the tune of 20-25% in the entire Delhi NCR region."

But the good news is that revival is on its way in commercial real estate. Says Anurag Bhatnagar, associate director at DTZ, an international property consulting firm, "Commercial real estate was suffering from lack of transactions till Q4 '08, but Q1 and Q2 '09 have witnessed absorption of a million sq ft each. Rentals across Delhi NCR had already corrected by 10-20% in Q4 '08 from peak asking rates in Q2 '08. Values corrected further marginally, by 4-5% across all micromarkets from Q1 to Q2 '09."

So far, companies with expansion plans stayed on the sidelines anticipating bottoming out of the market. Citing the reason for lack of transactions, Mathur says lack of absorption/transactions till Q1 '09 was due to the general negative sentiment in the market, the cut on global-IT spend for companies and the delayed decision making process. During this period, companies adopted various strategies like renegotiation of contracts along rationalization of their current space layout resulting in higher efficiency. Q1 2009 witnessed a revival in demand with companies closing out deals due to good rates due to broader market being close to bottom. Q2 2009 again maintained the absorption levels of Q1 2009, primarily due to companies getting corrected rates in various micromarkets. Delhi witnessed the lowest number of transactions in office space in the last one year, while the maximum transaction in office space took place in Gurgaon in Delhi NCR. Gurgaon witnessed majority of the absorption due to availability of Grade A office space in prime areas, available at attractive rates.

Courtesy:- ET dt:- 14-08-09

NOIDA READIES FOR Y2K+10

zameenkaushar2009 — Thu, 13 Aug 2009 09:15:36 +0200

In view of the 2010 Commonwealth Games in the national capital, Noida is gearing up to improve its infrastructure. Mohinder Singh, chief executive officer of Greater Noida Industrial Development Authority (GNIDA), in a conversation with A K Tiwary

What is Noida doing to spruce up its basic infrastructure to meet challenges of hosting the 2010 Commonwealth Games ?

We have planned a number of flyovers and underpasses, on the basis of a RITES traffic study for Master Plan (MP) 2021. They are being constructed along various routes, T-junctions and crossings across all sectors for smooth flow of traffic. Some of these are coming up at Sector 60, 61’s T-junction; Sector 51, 52, 71 and 72 crossing; Sector 32, 35 and 38 a crossing; Kalindi Kunj Sector 94’s T-junction and Sector 62 Khoda and NH-24 T-junction.

Despite all these, the authority has a lot more plans for territorial advantages like privatized power and reliable water supply, which will be in place very soon. The Metro work from Connaught Place to City Centre via Mayur Vihar Phase 1, Akshardham and New Ashok Nagar is already done and trial runs are in progress. To handle the multiplicity of vehicles on road, we are trying to systemize traffic controls.

Rickshaws and carriage autos (Maxi cabs) will be allotted a different route to avoid congestion. We are strengthening transportation by constructing 150 new bus stops and plying adequate number of city buses, which will be monitored through GPS (global positioning system) tracking. Volvo-type buses will also be soon introduced. To free bumper-to-bumper traffic, widening of internal roads that connect various sectors and sectors to main roads, are being taken up.

Demands for industrial and residential space in the suburbs has already triggered a phenomenal growth. What is the authority doing to put in place support infrastructure?

A number of industrial, institutional, commercial and residential schemes have been launched to meet the demand, in the past few months. For commercial plots, tenders have been invited. To meet the power demand, GNIDA is all set to install two power stations, one a 220 KV and another 330 KV power station. The authority has asked UPPCL (Uttar Pradesh Power Corporation Limited) to increase the power loading to requirement. Meanwhile, both Noida and Greater Noida will have a new 400 KV power substation. To increase the power load a 220 KV substation in Noida and two 120 KV and 132 KV substations in Greater Noida are being installed. As far as 24x7 water supply is concerned, we are already committed to supply 100 cusecs Ganga water from Upper Ganga Canal (Dehri dam). For this an MoU has already been signed with Jal Nigam. The concerned departments are looking after the day-to-day maintenance of sectors

What are your plans to make Noida a preferred destination for thousands of families who wish to partake of all the advantages of a metropolitan city?

Noida authority is committed to providing all the facilities that are normally associated with a major metropolis. Noida will become an ideal city with a full complement of infrastructure befitting a metropolis in time for the 2010 Commonwealth Games. Today, this emerging sub-city is known as an institutional, industrial and IT hub. Many MNCs and domestic companies are coming up every year. GNIDA has earmarked ample land for developmental works to which will attract MNCs and a number of proposals have already been received from MNCs. Some proposals have already been finalized and others are in the pipeline. South Korean, German and Thai-based companies are keen to set shop here.

What are you doing to keep pace with the mission of changing the very face of this smart city?

Builders and developers are competing in the real estate market here and the authority has allotted a lot of institutional, residential, group housing and commercial plots; sites for a number of hotels and institutions have also been earmarked. Appu Ghar in Sector 18 is the largest shopping-cum-entertainment and amusement centre, and is already operational. The coming of The Spice, Shopprix, and other malls, lifestyle of residents has transformed like never before. Now, Noida authority is developing new sectors like 76, 78, 79, 101, 102, 104, 107 in a very innovative way. This is a reason behind the fast development in the suburbs and the improvements seen day by day.

Undoubtedly, the city is competing well in the NCR. People from Delhi prefer to shift and settle here because better facilities and job opportunities. Infact, these days it has become an industrial hub because of MNCs and foreign investors flocking the place.

With the worldwide financial crisis, what is the authority doing to meet demand and supply in the realty sector?

A lot of initiatives are being taken up. To meet the demand and supply we have not reduced the price of the land and others given the great relaxation like density, which has been increased to 1,600/hectare. The FAR has also been increased to 2.57.

And coverage area has also been increased from 25% to 30% in up to 10 acre, and for more than 10 acre, the coverage area will be 40%. One of the major relaxations is that now there is no height restriction. I think developers and builders will be get benefited by these major initiatives to meet the demand and supply in the housing segments.

And what about the much awaited project, Sports City?

Noida Authority plans to develop a world-class Sports City spread over 311 hectare across Sectors 76, 78, 79, 101, 102, 104, and 107. We hope to make it a landmark project with state-of-the-art design backed by top architectural consultancy.

Courtesy:- TOI dt:- 08-08-09

REFINEMENT GRACE & BEAUTY TAKE THE SHAPE...

zameenkaushar2009 — Thu, 13 Aug 2009 09:14:15 +0200

A home is where you unwind, enjoy and amuse yourself. It’s also a place where you world comes alive. And where your dreams are born. Therefore, we have designed homes that are rich in refinement, grace and beauty. These apartments spell comfort in tasteful interiors, opulent look and have luxuries that make them a joy to live in. and the location is equally great! Exotica Eastern Court are located in Crossings Republic, which is India’s first global city.

· Parking facility

· Golf course

· Sports Stadium

· Shopping Complexes

· Malls clubs

· Amphitheatre

· Lake hospitals

· Schools

· 100% power back-up

· 24 securities

· Fire fighting system

· Situated strategically in Crossings Republic

· State-of-the-art architectural designs

Courtesy:- TOI dt:- 08-08-09

GOVT SHOULD APPOINT REAL ESTATE REGULATO...

zameenkaushar2009 — Mon, 10 Aug 2009 14:55:51 +0200

Industry body Assocham today said the government should appoint a real estate regulator to help expedite the redressal of consumer grievances. “There is a need for an efficient and focused regulatory body to overlook functioning of the real estate sector in order to insure the industry development and safeguard of consumer interests in line with international benchmark,” the chamber said.

The real estate regulator would ensure that the consumer grievances against developers, development authorities, real estate agents and financial institutions are addressed without any delay, it said.

Courtesy:- ET Realty dt:- 07-08-09

A TIME TO LEARN!

zameenkaushar2009 — Mon, 10 Aug 2009 14:55:10 +0200

Recession was necessary in our overindulgent times, and has done a great deal of good to the real estate sector in India. The end user has benefited the most during this period. ET Realty argues

Arti Khanna, a senior executive with a leading MNC, equates recession with the medicine that people initially complain 'is bitter', but in the end, come out far healthier and are better off for it. More cautious spending and greater saving by consumers, more prudence by lenders, shift in focus from premium to lower- and mid-end segment of housing by developers, is exactly what our economy needed for its long-term health and recession is having the desired impact.

Arti reminisces how they saw bad times during the dot-com bubble in 2001, and yet how the younger generation continues to be over indulgent, leading a hedonistic way of life and not paying heed to saving money. Arti says, "In many ways it brings the much needed discipline to people's way of life, while for corporates across various sectors, there are many positive ripple effects - for instance it allows people to analyse and identify their core competencies. It also helps in rebuilding focus, pruning tangential activities to achieve cost controls, which help in creating more effective systems and processes. And, it forces people to come up with innovative ways of handling problems, something mandatory for survival."

Among the three most affected - end users, investors, developers - surely, the end user has benefited the most during this period.

The end user has benefited as, finally, the supply chain started addressing the real demand in market - mid-end and affordable housing. Earlier, developers in their greed to garner higher profit margins, focused primarily on premium housing. But now, suddenly, the supply is shifting where the demand is. Even well known developers like Unitech, DLF, Raheja, Jaypee and Omaxe, primarily engaged in raising high-end homes, have begun talking of affordable options.

Recession has also been a time to introspect for everybody. "It has been a good learning experience, though not a pleasant one," says Samir Chopra, CMD of RE/MAX India, (RE/MAX is a global network of real estate agents operating in 70 countries). "There have been things to learn, relearn and unlearn for all the three - end users, investors and developers. Consumers have become more vigilant in transactions, and they are more thorough about both the market situation and their own needs. They are beginning to learn how to investigate and research before spending their lifelong savings. Investors have also become more conscious. They are more careful about spending huge sums of money in development and are looking for other avenues for investment in the real estate sector. They have become more delivery oriented, innovative and price conscious in this volatile market. They have learnt from the difficult times, reduced prices, and learnt to make more beneficial offers to consumers."

While at a superficial level investors may seem to be winners with recession giving them an opportunity to pick investments at more realistic prices, recession has also seen them investing less. According to investor Shalabh Bhasin, director of Kshitij Portfolio Services Pvt Ltd, "The recession period has seen me investing less in property market because the previous prices where unduly inflated and even now it can't be said with surety that the prices have bottomed out. Also, most of the investors were already stuck with loads of investment at higher prices, so there was not enough liquidity for further purchases."

Citing examples, he says he had invested in Parsvnath Panchkula flats at Rs 3,250/sq ft and Parsvnath Dharuhera flats at Rs 1,800/sq ft, but there is no buyer in these projects and three years on, the builder is yet to start construction. But on the upside, the investor is now carefully assessing a project and is no longer fooled by lucrative promos and advertising of the property.

As for developers, on the face of it, they may seem to be the biggest losers with the fund flow nearly stopping and sales drying up. But recession has been a blessing in disguise as it has forced them to innovate to cut costs, improve sales and raise funds. Recession has seen developers changing their product and strategies.

According to Mohammad Asif, chief operating officer of High Street Capital, "The shift in strategy is in terms of market focus, product size, pricing and promotion. In residential sector, they have started focusing more on affordable and mass housing. Today's market is customer driven and developers are offering suitable payment plans and other freebies like sharing of stamp duty and housing loan EMI burden to ensure transactions. In commercial segment, the decline in demand from IT/ITeS sector has forced them to look at other business sectors such as logistics, biotechnology, hardware, pharmaceuticals, tourism and education. In the retail segment, instead of fixed rentals, revenue sharing model is becoming a common practice. Developers have also been forced to work out an optimal tenantmix strategy and work on new project design to reduce operating costs. In hospitality sector, the focus now is more on budget hotels and services apartments."

Overall, recession has been a time to innovate. In a price sensitive market, the effort has to be to reduce cost, and to achieve this, both the construction cost and land cost have to come down.

Courtesy:- ET Realty dt:- 07-08-09