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High End Residential Flat Rentals in India

Published: September 2, 2011

NCR

An apartment admeasuring 5,700 sq ft in Gurgaon was leased out at Rs 290,000 per month. The apartment, set in one of the high-end residential projects, has the advantage of being situated at an easy driving distance from commercial centres, secondary business districts and is also near the international airport.
The average rental value for high-end [...]

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No Boom Expected in Real Estate, Sector will Witness Robust Growth despite Slowdown

Published: August 17, 2011

The real estate sector is expected to remain robust despite the global slowdown , but it’ll not witness the kind of price appreciation it has seen in the past. Anuj Puri, chairman & country head, Jones Lang LaSalle India, says mid-income residential real estate seems a good investment option. For long-term investors, the residential real [...]

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Developers & Buyers Relieved as Farmers and Noida Authority Agree on Settlement

Published: August 1, 2011

Sunday’s settlement with farmers in Noida by the Noida Authority should help revive consumer confidence and sales of homes, that had taken a knock after the protests in Greater Noida spilled over there. The farmers have agreed to call off their agitation. “This will immediately restore consumer confidence in Noida,” Shakti Nath, CMD, Logix Group, [...]

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IREO Launches Integrated Township Project “IREO – Fiveriver” in Panchkula

Published: July 23, 2011

Ireo, the private equity fund dedicated to the Indian real estate sector, has announced the launch of its new integrated township project “IREO – Fiveriver”. Spread over a sprawling 200 acres, the project is located in Panchkula, on the outskirts of Chandigarh.
Ireo Fiveriver has a unique mix of recreational and wellness facilities catering to multiple [...]

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Mumbai’s residential market at its lowest since 2007: Knight Frank

Published: July 18, 2011

Real-estate sale volumes in Mumbai, one of the strongest residential market in the country, have plummeted more than 70% since its 2007 heydays, says a recent report by global property consultant Knight Frank.
A drop in transaction volumes has hit the Central Mumbai market the hardest as the quantum of unsold inventory makes up over 40% [...]

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Gurgaon Based Developer AlphaG: Corp Launches phase III of GurgaonOne 84

Published: July 15, 2011

Alpha G:Corp Development (Alpha G:Corp), a Gurgaon-based real estate developer and a partner of Morgan Stanley, has launched phase III of its residential project, GurgaonOne 84. To be built at a cost of Rs 290 crore, the project is spread over 12.5 acres in Sector 84, Gurgaon, which is termed as New Gurgaon.
The CEO and [...]

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Mumbai Ranked as the Most Favoured Development Market in Asia Pacific Region

Published: July 11, 2011

Mumbai is ranked third as the most promising investment market, and the first as the most favoured development market, in the recent Emerging Trends in Real Estate Asia Pacific 2011, a real estate forecast jointly published by the Urban Land Institute (ULI) and Pricewaterhouse-Coopers (PwC). “Projections for Mumbai in 2011 look good, as the city’s [...]

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Pune Based Kumar Urban Development Ltd Looking to Launch Residential/ Commercial Properties in Pune&Mumbai

Published: July 1, 2011

As part of its expansion plans, Pune-based Kumar Urban Development Ltd (KUL) is looking to launch seven residential and three commercial projects with a total developable area covering 2-2.2 million square feet in the coming two quarters of this fiscal. The new projects will include two high-end residential and two commercial projects at Pune and [...]

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Proposed Real Estate Regulation Bill May be Delayed

Published: June 28, 2011

The proposed Real Estate Regulation Bill may be delayed. The ministry of housing and poverty alleviation, which was set to table the draft bill during the Monsoon session of Parliament, is yet to get the law ministry’s opinion on it. The draft Bill was sent to the law ministry for vetting nearly two months ago. [...]

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Mumbai-Based Acron Infra Projects Developing Residential Complex at Pune

Published: June 25, 2011

Mumbai-based Acron Infra Projects is developing a large residential complex at Karvenagar in the heart of Pune, a three-hour drive from the metropolis of Mumbai.
“We are building a large, affordable residential complex with a total of 2,800 apartments spread over a 24-acre green campus in the heart of the city at Karvenagar,” Amar J Britto, [...]

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Mantri Developer Announces New Residential Project in Chennnai

Published: June 22, 2011

After the success of its first residential project in Chennai – Mantri Synergy, Mantri Developers announced the launch of their new project named Mantri Navaratna. Located at Chromepet, Mantri Navaratna comprises nine aesthetically designed apartment towers planned in accordance to principles of contemporary architecture that endeavor to be a reflection of a modern lifestyle.
Speaking on [...]

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Delhi-NCR Observe 20 to 27% Hike in Real Estate Prices

Published: June 13, 2011

Real estate prices in some localities of the national capital skyrocketed by 20 to 27 percent in the first quarter of the current fiscal as compared to the corresponding period of 2010-11, an industry report said Wednesday. “Property prices for Delhi have seen escalation if we compare per square feet prices of quarter (Q)1-11 over [...]

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10-15% Fall Expected in Mumbai Property Rates by year End: Experts

Published: June 2, 2011

Property prices in India’s financial capital Mumbai have surged 40 percent in less than two years, even surpassing peaks reached in 2008. Homes in Mumbai’s prime locations, for example, can cost up to $2,000 a square feet. But warning signs have emerged to suggest that a correction might be around the corner. Real estate firm [...]

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DLF launches 1,300 plots at Indore, expects sales of Rs 300 crore

Published: May 31, 2011

As part of the company’s strategy to focus on plotted development, the country’s largest realty firm DLF today launched 1,300 plots at Indore, expecting a sales realisation of about Rs 300 crore from it.
The company is developing an integrated township, Garden City , spread over 192 acres. In the first phase, it had launched 500 [...]

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Mumbai Based Patel Realty Plans to Launch Projects worth Rs 300 cr

Published: May 27, 2011

Patel Realty India Ltd, a wholly-owned subsidiary of Mumbai-based publicly-held Patel Engineering Group, plans to launch 3-3.5 million sq ft of projects valued around Rs 300 crore during the present financial year across the country. Presently, around 7 million sq ft of real estate space is under construction across verticals like residential, commercial and retail [...]

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Fall in Office and Commercial Space Demand in Mumbai

Published: May 26, 2011

Mumbai, India’s business capital, is witnessing a fall in demand for office and commercial space with transactions down by more than half since last year. Swanky office space in the heart of Mumbai, but it seems there are few takers. According to a Knight Frank India report, “office traction at a glance”, demand for commercial [...]

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UP Govt Announces 12.5% Hike in Land Prices at Greater Noida

Published: May 24, 2011

After violent farmers’ protests for enhanced land compensation, authorities  of  Noida, Greater Noida and Yamuna Expressway on Monday decided to hike land rates by 12.5 per cent. To compensate the loss, authorities have also hiked land allotment rates by the same percentage. This was announced by Chairman Mohinder Singh at a press conference in the [...]

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Tata Housing to Launch Luxury Residential Project in Gurgaon at an Investment of Rs 2000 crore

Published: May 18, 2011

Tata Housing Development Company Ltd today said it will invest Rs 2,000 crore in the next three years to build a luxury housing project in Gurgaon and also announced its plans to foray into the overseas market this fiscal. The Mumbai-based realty firm, a subsidiary of Tata Sons, said it is exploring the option of [...]

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Kolkata Based Developer ‘Eden Group’ Plans 7-8 New Projects at an Investment of Rs 250cr

Published: May 5, 2011

Eden Group, one of the leading real estate developers from Kolkata, is planning to launch 7-8 new projects within the next one year with a total developable area of over 1 million square feet. All these projects will be launched in and around Kolkata with a total investment of Rs 250 crore, including the land [...]

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Piramal Realty Ltd Plans 5 Residential Projects in Mumbai

Published: May 4, 2011

Piramal Group chairman Ajay Piramal’s newest venture, Piramal Realty Ltd, will kick off with five residential projects in Mumbai at an estimated investment of about Rs. 1,500 crore. The company will develop about 30 million sq. ft through land acquisitions funded from its own sources, without any borrowing, managing director Khushru Jijina said. “We are [...]

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Adani Realty Forays Into Delhi-NCR, Inks JV with M2K

Published: May 3, 2011

Adani Realty Business and Delhi-based realtor M2K Group will jointly develop residential projects on 41 acres of plot the latter owns in Gurgaon, near Delhi, marking Adani’s foray into the Delhi-NCR.
The real estate arm of the ports-to-edible oil Adani group will develop two projects on separate parcels of land. The projects will cost 1,500 crore [...]

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Did Not Get a Flat in DDA Draw? Explore Options in The NCR

Published: April 30, 2011

Those who did not find their names in the recent DDA draw might be feeling a little low as they may not be able to purchase a house in the capital with no DDA scheme in the near future. Experts, though, say that there is no point in cursing fate - they aver that it [...]

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Bangalore to Witness Robust Commercial & Retail Space Demand

Published: April 26, 2011

Bangalore is likely to witness a robust demand in commercial and retail space in the present calender year on the back of higher economic activity. According to a study of real estate research firm Jones Lang LaSalle India, the city is likely to absorb about 7.1 million sq ft of office space by 2011 against [...]

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Developers Find a Way Around SC Ruling on Parking Spaces

Published: April 25, 2011

A Supreme Court ruling in 2010 may have prohibited developers from selling parking areas as independent units to flat buyers ‘ but developers seem to have found a way around it.
Developers are now offering car parking charges as part of the sale agreement value . This trend was noticed during the recently concluded property fair [...]

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M3M Ropes in L&T to Build 7–Star Luxury Residence ‘M3M Golf Estate’ in Gurgaon

Published: April 18, 2011

M3M India Ltd has appointed Larsen & Toubro, one of the leading construction firms, for building their finest 7-star luxury residence — M3M Golf Estate in Gurgaon. The project will also be constructed by L&T in association with LERA International, which is one of the world’s leading consulting firms, providing modern and innovative structural engineering [...]

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Residential Prices Slated to Decline in Delhi-NCR and Mumbai

Published: April 14, 2011

Weighed down by a piling up inventory as customers stay away, property prices in India’s key markets are slated to decline, while in other cities the trend is likely to be divergent . Apart from the fall in affordability of customers, due to a rise in property prices and interest rates, the other reason is [...]

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Residential Property Prices to Dip as Buyers Stay Away

Published: April 13, 2011

Weighed down by a piling up inventory as customers stay away, property prices in India’s key markets are slated to decline, while in other cities the trend is likely to be divergent.
Apart from the fall in affordability of customers, due to a rise in property prices and interest rates, the other reason is developers’ fund [...]

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Prestige Group to launch Premium Residential Project in Hyderabad

Published: April 7, 2011

Bangalore-based Prestige group, which has completed several high-end residential projects in the city, has started work on its first residential project in Hy¬derabad. The company hopes to ma¬intain its brand image with the “Royal Woods” project slated to be completed by 2013.
The premium residential enclave is located off the outer ring road near Kismatpur on [...]

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New Norms Slow Down Property Registration

Published: April 6, 2011

Registration of property transactions has witnessed a steep decline in the capital after the state government made it mandatory to produce a building sanction plan and structural safety certificate as a prerequisite to any form of registry. In nearly all districts, the sub registrar offices have seen the number of registrations come down sharply. Some [...]

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Commercial Space Demand in India to Touch 160 mn sq ft By ‘14

Published: April 5, 2011

Demand for commercial office space across the seven major cities in India is estimated at around 160 mn sq ft by 2014, a latest study by multi-national real-estate services firm Cushman and Wakefield Research (CWR) has revealed.
The quantum of demand will mainly be concentrated in the metropolitan centres of Bangalore, Mumbai and National Capital Region [...]

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Sobha Developer to Launch Projects in NCR and Chennai

Published: April 4, 2011

As Sobha Developers prepares to launch projects in new markets such as the National Capital Region (NCR) and Chennai, it could look at monetising more land to raise funds, according to reports. J C Sharma, managing director of Sobha Developers said that finances for the new project launches have already been tied up but the [...]

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Sanghvi Group comes up with Affordable Housing Project in Mumbai

Published: March 31, 2011

Acknowledging the need for ‘affordable and qualitative housing’ in the extended suburb of Mumbai Metropolitan Region (MMR) real estate firm Sanghvi Group has identified Kalyan, Shahapur, Vasind and Asangaon as an affordable residential destination. Keeping this in mind the Group launched Sanghvi Paradise, an affordable mega township project at Asangaon. Spread across nine acres of [...]

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Mumbai Real Estate Sector can witness Oversupply in 2012-13: Jones Lang LaSalle

Published: March 30, 2011

Mumbai’s residential market is predicted to witness a glut in 2012-13 owing to steady new launches at a time when sales are extremely slow, according to real estate consultancy Jones Lang LaSalle. “The overall sentiments of the market and the consistent rate of new project launches in Mumbai give a clear indication of an impending [...]

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Is it a Good Time to Buy Into Real Estate Sector?

Published: March 29, 2011

A ‘wild child’ in corporate governance norms, the realty sector’s performance, of late, has not been quite up to the mark. What has triggered the correction is a surge in borrowing costs and higher prices. The alleged involvement of some of the companies in a wave of scams has only fed to the negative sentiment. [...]

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Mumbai Realty Robust Despite Small Fall in Flat Sales in Feb

Published: March 28, 2011

Mumbai’s real estate market continues to be robust despite a minor blip in February when flat sales clocked a 2.40 per cent decline, a leading industry body said.
The city reported a marginal decline in flat registrations at 16,341 in February as against 16,743 registrations in the year-ago period, data from the Maharashtra Chamber of Housing [...]

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Slowdown Hits Mumbai Residential Real Estate Market

Published: March 26, 2011

After a one-year period starting in the third quarter of 2009, which saw a strong recovery with a record 40%-plus increase in prices, the Mumbai residential real estate market has been seeing a slowdown over the past two quarters across various micro markets.
The past six months have seen the return of negotiability in asking prices, [...]

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CII For Increase in Flow of Capital in Housing Segment

Published: March 24, 2011

Given the increase in the land prices, the Confederation of Indian Industry (CII) today said there was a need to improve the infrastructure and increase in flow of capital in the housing segment.
“The only way where land can be available is improving the infrastructure…more young people have started to purchase houses and keeping that in [...]

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Chennai Based True Value Homes to Develop 12 Projects at an Investment of Rs 800cr

Published: March 23, 2011

Chennai-based real estate developer, True Value Homes India Pvt Ltd (TVH), has announced plans to invest Rs 800 crore over the next three years to develop around 12 projects, majority of which will be in the residential segment. The investment would be from internal accruals and debt.
The company has so far developed six million sq [...]

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Rules that Simplify Property Buying for NRIs in India

Published: March 21, 2011

It makes sense for non-resident Indians (NRIs) and persons of Indian origin (PIOs) to invest in property in India. A NRI is a person who is not resident in India. According to the Foreign Exchange Management Act (FEMA), ‘person resident in India’ includes a person residing in India for more than 182 days during the [...]

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Mumbai Real Estate Continues to Remain Stagnant Amidst High Property Prices

Published: March 18, 2011

The real estate market in Mumbai continues to remain stagnant as sale transactions are at an all-time low due to the high property prices. Traditionally, property sales in the city go up between February and April, with March recording the highest number of transactions. But, this year even that does not seem to be happening.
As [...]

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Delhi Govt To Start Allotment of 10,000 Low-cost Flats

Published: March 14, 2011

Delhi government will soon start allotment process of nearly 10,000 low-cost flats to slum dwellers in the city.
Industries Minister Ramakant Goswami today said the government’s infrastructure agency Delhi State Industrial and Infrastructure Development Corporation (DSIIDC) has completed construction of 9,660 houses which will soon be handed over to Delhi Urban Shelter Improvement Board (DUSIB) for [...]

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Realty Exhibition Brings Indian Property to Dubai

Published: March 10, 2011

Times Realty India 2011 , a two-day exhibition being held in Dubai on the realty sector of India, will witness participation from some of the biggest organisations in the property industry from India.
The exhibition, being held on March 11-12 here, aims to attract the non-resident Indian (NRI) community living in the UAE to invest in [...]

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Solid Demand for Swanky Homes in Hyderabad

Published: March 9, 2011

The sale of the ailing middle class housing schemes in the city could have dropped to an all time low with most projects finding no takers even after a 30-40 per cent slash in price. Doing well, however, is the premium realty segment of Hyderabad that has witnessed a jump in sales over the last [...]

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Rs 1 Crore Bid for Two-Bedroom Flat in Chandigarh

Published: March 8, 2011

A salaried person’s dream to own a house in Chandigarh may be almost over with city residents willing to shell out as much as Rs 1 crore (twice the actual cost) to own a two-bedroom (MIG) flat here.
Undoubtedly, when the sealed bids for 10% ‘assured allotment flats’ of Chandigarh Housing Board (CHB) were opened on [...]

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Tata Housing to Invest About Rs 3,000 Crore On Affordable Houses

Published: March 4, 2011

Tata Housing Development Company today said it would invest up to Rs 3,000 crore next fiscal to develop affordable homes across the country.
The company already has five projects in the affordable segment and plans to launch 7-8 more projects next fiscal.
Tata Housing has formed a subsidiary Smart Value Homes to develop affordable houses in the [...]

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Affordable Housing in Non-Metros To Get A Boost

Published: February 28, 2011

Low cost and affordable housing in non-metro regions is set to receive a boost following the finance minister in his budget speech announcing measures including the hike in housing loan limit for interest subvention.
In the Union Budget for 2011-2012, the existing scheme of 1% interest subvention has now been extended to Rs 15 lakh for [...]

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Mumbai Office Market, Sixth Most Expensive Globally - Survey

Published: February 24, 2011

Mumbai has been ranked as the sixth-most expensive office market in the world, according to a global survey by property services firm Cushman & Wakefield.
With office rentals in its main business district averaging $114 a square foot per year, Mumbai ranks behind Hong Kong , London, Tokyo, Rio de Janiero and New York, the report [...]

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Real Estate Remains the Most Preferred Investment Option

Published: February 23, 2011

Around 75% young Chandigarh residents employed in public sector undertakings, working in multinational corporations or having different types of businesses or professions prefer to invest in real estate. This was revealed in an Associated Chambers of Commerce and Industry (ASSOCHAM) survey titled “Latest Investment Trends Among Urban Professionals”, which was carried out in five cities. [...]

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DLF to Launch Luxury Residential Project “DLF Kings Court” Tomorrow

Published: February 21, 2011

The country’s largest realty firm, DLF, plans to launch one of the costliest residential projects here this week offering 38 luxury housing units at a price range of Rs 15-25 crore. The company will launch on Tuesday a super luxury residential project ‘DLF King’s Court‘, which is spread over 2.3 acres of land at Greater [...]

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Sunil Mantri Group Announces Residential Project in Mumbai

Published: February 17, 2011

Sunil Mantri Group, a developer of residential and commercial spaces across 14 cities in India, has announced the launch of its landmark residential project Mantri Serene, nestled against the backdrop of the Aarey hills in Goregoan (East), Mumbai. Spread across over 2 acres, the premium residential community is designed as a green haven that offers [...]

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Land Registration Rates Doubled in Delhi

Published: February 10, 2011

Circle rates, the minimum value of any piece of land or immovable property for registration, doubled in Delhi yesterday. First fixed in 2007, they’ve been revised for the first time. Developers and analysts were split on whether this would take property prices up significantly in the capital. While some developers indicated these could increase 10 [...]

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Mumbai Commercial Market Showing Signs of Recovery

Published: February 7, 2011

The commercial real estate market in Mumbai is finally bouncing back after a prolonged recession-induced slump. According to a recent report by property consultants Knight Frank, the commercial market in Mumbai is showing signs of revival and enquiries are on the rise. The first three quarters of financial year 2010-11 witnessed more transaction of office [...]

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Union Budget 2011-2012 Will Give Indian Real Estate The Break

Published: January 25, 2011

The Indian real estate sector has always been one of the mainstays of the country’s economy. At some level, every Indian is connected with it; in some way or the other, it affects every citizen of this country.
It is time that the Government takes practical cognizance of the vitally important role the real estate sector [...]

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SBI Begins Home Loan Utsav at Bangalore

Published: January 21, 2011

State Bank of India (SBI) is organizing a three day event called SBI Utsav at the bank’s local head office on St Mark’s Road in Bangalore. The second edition of the loan utsav will be flagged off on Friday. The event is powered by the Times Red Cell.
The bank will showcase a bouquet of home [...]

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US Based Developer Donald Trump Plans Luxury Residential Tower in Mumbai

Published: January 18, 2011

US billionaire real estate developer Donald Trump is entering the Indian property market with a luxury residential tower in Mumbai, more than two years after announcing plans to expand in the south Asian nation. Trump, who has joined with Mumbai developer Rohan Lifescapes Pvt for his first venture in the country, expects to start marketing [...]

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17 Acres of Prime Gurgaon Land to be auctioned by Aricent Technologies

Published: January 14, 2011

After Gurgaon One, western part of the city might see rise of another multi-storey building in the same vicinity. Jawala Mills, decades-old defunct textile mill on Old Delhi Road is slated to be sold by mid-February. The 17 acres of land was first purchased by IT major Aricent Technologies in early 2000s as tech firm [...]

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Booking of Third Phase of ‘Godrej Garden City’ Starts

Published: January 11, 2011

Godrej Properties Ltd has announced that it is opening bookings for phase III in its project in Ahmedabad, Godrej Garden City. Phase III of Godrej Garden City will offer contemporary 2 and 3 BHK apartments in sizes ranging from 1,100-1,350 square feet. Godrej Garden City, spread over 250 acres, is located within the Ahmedabad Municipal [...]

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Delhi Police Recovers 1000cr From Large Scale Real Estate Frauds

Published: January 7, 2011

The economic slowdown resulted in large-scale frauds in the capital’s real estate sector and investigations led to recovery of over Rs 1,000 crores, Delhi Police said on Thursday. “A slow down in real estate sector led to large scale frauds with innocent investors wherein major builder companies defaulted on their commitments thereby causing huge losses [...]

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Receding Housing Demand May Hamper Real Estate Recovery

Published: January 5, 2011

The demand for residential properties, a major revenue source for most real estate companies, is receding. An expected increase in borrowing rates and the near-peak realty prices may reduce the demand further. This will affect most realty firms that had started showing signs of recovery in the recent quarters. This explains why the 29-stock ET [...]

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Real Estate Market Back to Pre-crisis Peak in 2010

Published: December 31, 2010

A fast-growing economy fired up the real estate market after almost a year-and-a-half of property gloom, with prices touching the pre-crisis peak and companies announcing structures that will pierce the sky.
The property party would have been perfect had it not been for the service tax slapped on under-construction buildings and as expected, the burden was [...]

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Mumbai Realtors Likely to Cut Prices

Published: December 29, 2010

Mumbai developers may cut record- high home prices to revive flagging sales after banks curbed credit to the sector, according to IIFL.
Registrations for home sales, leases and property transfers fell 15% this quarter from the three months ended September 30, the brokerage said in a note yesterday. “Selective price cuts” are expected in the quarter [...]

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DDA Scheme Brings Home Prices Down

Published: December 24, 2010

DDA housing scheme is has come a boon for aspiring home buyers as it has forced even small developers in the National Capital Region (NCR) to dole out hefty discounts and freebies like cars, LCD TVs and international holiday packages to woo buyers.
The DDA housing scheme 2010 has a total of 18,235 flats on offer, [...]

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Housing prices in Mumbai, Delhi matching 2008 level: JLL

Published: December 20, 2010

Global property consultant Jones Lang LaSalle on Sunday cautioned that housing prices in Delhi-NCR and Mumbai have reached the peak level of 2008 and any further rise in the rates will adversely affect the demand. It said the prices in the rest of the country may firm up by about 10-15% next year to touch [...]

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Gurgaon Based Developer Orris Launches Commercial Complex at New Gurgaon

Published: December 11, 2010

Orris Infrastructure, a Gurgaon-based real estate developer, has launched a new age commercial complex ‘Business Square’ in Sector 82A, New Gurgaon. The project, which is spread over an area of 9.5 acres, has three towers that will offer office space and also includes a convention centre, 5-star and business hotel, according to the company.
A 5-star [...]

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Tata Housing Subsidiary Announces Launch of Hill Township at Thane

Published: December 9, 2010

Smart Value Homes, a 100 per cent subsidiary of Tata Housing Development Company, has announced the launch of New Haven — a hill township at Vasind in Thane district, Maharashtra. Spread across 33-acres, the new project would offer 1,252 apartments, including 2 BHK and 3 BHK homes starting from Rs 15-30 lakh, according to a [...]

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India Real Estate Stocks Affected As Bribery Case Widens

Published: November 27, 2010

India’s top crime investigation agency issued notices to a total of 21 companies as it intensified its probe into a bribes-for-loans racket but ruled out that this is a case of corporate fraud, an agency official said Friday.
“It is not a fraud case…it is primarily a case of bribery and corruption,” said Balwinder Singh, special [...]

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Indian Bankers Arrested in Bribery Case

Published: November 26, 2010

Indian authorities Wednesday arrested several senior bankers, alleging they took huge bribes to issue corporate loans, the latest in a series of corruption scandals that have rattled the country in recent weeks.
The Central Bureau of Investigation, a crime-investigation agency, arrested eight people: four senior bankers at state-controlled lenders, three from a financial services firm, and [...]

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Zamanzar.com hits 4 lakh active listings milestone

Published: November 24, 2010

Zamanzar.com, among the top 10 Indian real estate portals according to Alexa traffic rank, just reached 400,000 active property listings online just before turning 3 years old on November 8th, 2010. The portal is seeing tremendous year on year growth in all real estate sectors - residential, commercial, sale, and rental.  Monthly online visitors and [...]

Posted under Indian Real Estate, Zamanzar

Real Estate Firm Jaypee Greens Announces Launch of “Kassia” at Noida

Published: November 18, 2010

Real estate firm Jaypee Greens has announced the launch of ‘Kassia’, the personal suites at Jaypee Greens, Sports City near Greater Noida. The Kassia suites are available in 1-4 bedroom options and will showcase tropical lifestyle with innovative architecture and landscaping. The Kassia suites will feature a unique architectural design that helps to maintain privacy, [...]

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Property Price Correction Expected in Mumbai and Delhi

Published: November 9, 2010

Property prices in Mumbai and New Delhi are set to decline by almost 15 to 20 per cent in the next couple of months, according to an Indian real estate consultancy.
“A correction is likely to happen in Mumbai and New Delhi property prices. We believe the fall could be in the range of 15 to [...]

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PBEL to Develop Housing-cum-Commercial Township Project in Chennai

Published: November 2, 2010

PBEL Property Development (India) Ltd on Wednesday outlined plans to develop an integrated housing-cum-commercial township project in Chennai along Old Mahabalipuram Road. PBEL is a venture between Property and Building Corporation Ltd (PBC), a subsidiary of Israeli conglomerate IBD group, Electra Real Estate Ltd, a subsidiary of Elco Holdings Israel, and Hyderabad-based Incor, with the [...]

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Office Space Rentals Firming Up

Published: October 28, 2010

Rentals for office space in top Indian cities are firming up due to increased demand, as per an industry study that suggests revival in one of the few real estate segments yet to come out of a slowdown.
There has been moderate quarterly rise in office rentals across Grade A projects in the central business districts [...]

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Signature homes making a lifestyle statement

Published: October 14, 2010

Home buyers are on a shopping spree to buy talk-of-the-town homes. Driven by rebound in consumer sentiment and growing millionaire population, signature homes are making a lifestyle statement.
The new breed of luxury homes offers home theatre lounge, private elevators, Poggenpohl kitchens, home office, plunge pools, sundecks and all the five-star amenities that flaunt affluence. The [...]

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Circle rate hike may trigger 5-20% rise in Gurgaon realty prices

Published: October 11, 2010

In its bid to bridge the gap between real estate prices and existing sector rates, the Gurgaon district administration has jacked up the circle rates for the second time on Sunday. The revised rate will result in a 5-20% increase in circle rates of properties in Gurgaon from Monday.
The revised rates, according to property experts, [...]

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Godrej’s realty arm to develop 1.35-acre plot in Chembur

Published: October 7, 2010

Godrej Properties has signed a development agreement for a 1.35-acre plot in Chembur . The property, which is on the Sion-Trombay Highway, has development potential of around 1,50,000 sq ft, the company said in a media statement.
Godrej Properties will be undertaking the project through a joint venture with land-owner Bombay Footwear. Almost 85% of the [...]

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Realty Major Vigneshwara to invest Rs 1,600 cr in Gurgaon Based Projects

Published: October 4, 2010

Infrastructure and realty major Vigneshwara Developers is planning to invest around Rs 1,600 crore into various projects in Gurgaon by 2013. The company that has joined hands with Commonwealth Games 2010, Delhi as official real estate licensee, has projects worth Rs 450 crore under construction as on date. Talking to FE Vigneshwara’s managing director Sunil [...]

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A Real(ty) Risk For India’s Banks

Published: September 28, 2010

India’s real-estate developers are propping up apartment prices. The country’s banks are giving them a hand—at significant risk.
Bank lending to the real-estate sector has grown at a compound annual growth rate of 40% since 2006. That is nearly twice the rate of overall credit growth, amounting to an exposure of $21 billion as of the [...]

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Ansal API to invest Rs 4,500 cr in hi-tech city in UP

Published: September 20, 2010

Realty firm Ansal Properties and Infrastructure (Ansal API) plans to invest about Rs 4,500 crore to develop the second phase of its 2,500 acre hi-tech city adjoining Greater Noida.
According to sources, the company would soon launch the second phase of its integrated township ‘Megapolis’ at Dadri covering 650 acre of area where it would offer [...]

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Three-year lock-in for FDI in realty ‘not restrictive’

Published: September 17, 2010

The Commerce and Industry Minister, Mr Anand Sharma, said on Thursday that the three-year lock-in period for Foreign Direct Investment (FDI) in the real estate sector is not “too restrictive.”
The comments assume significance as the real estate industry has long been asking for the dilution of FDI lock-in clause.
“I do not see the three-year lock-in [...]

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Sobha Developers to Start $107 Million Luxury Home Project in New Delhi Suburb

Published: August 23, 2010

Sobha Developers Ltd., the best performing stock on the Bombay Stock Exchange Realty Index this year, plans to start a 5 billion rupee ($107 million) project in a New Delhi suburb to build luxury homes as the economy expands. “We are entering the golden era in real estate now,” J.C. Sharma, managing director of the [...]

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Maharashtra :You can get only one house under goernment quota in state

Published: August 20, 2010

People who have bought flats under the Maharashtra government’s discretionary quota — which comes cheaper than the market rates—won’tbe able to purchase another house under the same quota again.
The state took the decision last week in the wake of the controversy over some legislators applying for flats in Mumbai despite having bought homes under the [...]

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Things to Keep in Mind Before Buying a Home

Published: August 19, 2010

Of all the dreams that a person dreams in his lifetime, the most desired is the one for owning a house. It is much more than just a real estate purchase or an investment opportunity. Every individual aspires to have a private space that he can call as home. People spend lots of time and money [...]

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Haryana comes up with New Guidelines for Flat Registration

Published: August 16, 2010

The urban local bodies department of Haryana has come out with new guidelines for registration of independent floors within the area of municipal corporations or councils or committees of the state.
Urban local bodies minister Mahender Pratap Singh said the registration of independent floor would be allowed in case of the residential buildings situated in approved [...]

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Mumbai Sees Biggest Real Estate Deal

Published: August 10, 2010

India’s biggest real estate deal took place yesterday evening, with the National Textile Corporation (NTC) limited selling eight acres of Bharat Mills at Worli, for a whopping 1505 crore, meaning a single acre went for 188 crore. The highest bidder was Indiabulls, who won with a difference of 2 crore as Lodha had bid 1503 [...]

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Commercial Real Estate Faces the Problem of Supply Overhang

Published: August 6, 2010

India’s realty sector is likely to face the problem of plenty with office rental space set to outstrip demand resulting in a further drop in rentals, according to a report released on Tuesday. “With the forecast growth of net completions expected to outpace that of net absorption, a significant supply overhang is expected to remain [...]

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Credai Kochi to Organise Kerala Property Expo 2010 from August 6-8

Published: August 4, 2010

Kochi is organising the new edition of Kerala Property Expo 2010 on August 6-8 at Marine Drive, Kochi. One of the biggest and finest of property shows in Kerala, the Property Expo seeks to offer a unique platform for Kerala’s property developers and builders.
During the exhibition, a host of developers in Kerala would showcase a [...]

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Chennai-Based Developer Sterling Springdale comes up with Pool Villas in Chennai

Published: July 27, 2010

The Chennai-based developer Sterling Springdale Properties has come out with an exciting project offering independent pool villas amidst lush greenery less than an hour’s drive from the city. The project is being promoted as a good opportunity to invest in a farmhouse. The company is targeting the high-end executives working in and around the Sriperumbudur [...]

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Govt Drafts a New Law to Guarantee Land Titles

Published: May 27, 2010

To bring uniformity across the country and replace the existing deeds system fraught with litigation due to inaccuracies in property records, the Rural Development Ministry has drafted a model law to usher in a system of conclusive property titles with title guarantees through registration of immovable properties.
The Department of Land Resources under the Ministry has [...]

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DLF to Launch Mumbai’s Largest Luxury Housing Project

Published: May 26, 2010

DLF, the country’s largest real estate company, is planning to launch its Lower Parel high-end housing project soon, said sources in the know. Touted as Mumbai’s ‘largest luxury residential project’, the project is expected to have three towers with 1,000 apartments and one of the largest parking lots in the city. The apartments are likely [...]

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10 to 20 Percent Decline Expected in Mumbai and NCR Delhi Real Estate Bookings

Published: May 17, 2010

Real estate prices for new bookings in Mumbai and NCR Delhi are expected to be 10 to 20 per cent lower than prevailing market rates feel analysts as developers are still bogged down by unsold inventory in projects in these areas.
Though absorption of unsold flats have gone up in the last six months due to [...]

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Ansal API to invest Rs 1,500 crore in Haryana on realty projects

Published: May 5, 2010

Realty major Ansal Properties & Infrastructure Ltd plans to invest about Rs 1,500 crore over the next three years on expansion of its existing integrated townships and to develop a group housing project in Haryana.
“We have either completed or in the process of completion of our four townships projects at Sonepat, Karnal, Panipat and Kurushetra. [...]

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Residential Prices in Mumbai going Sky-high once Again

Published: April 28, 2010

Apartments at Ashok Towers in the Parel area of Mumbai command a price of Rs 28,000-29,000 a sq ft. This is higher than what developers were charging at the peak of the property market boom during 2007-08. The prices then were Rs 25,000-26,000 a sq ft. During the slowdown in 2008-09, the rates had come [...]

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Office space rentals in India seen stable in 2010

Published: April 26, 2010

Rents for office space are seen stable in 2010 as increased spending by IT and ITES firms absorbs space put out over the last few quarters, a recent survey by real estate consulting firm C.B. Richard Ellis showed.
The market for commercial space in major Indian cities has seen a boost in demand in the March [...]

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Best Location in Pune to Buy Commercial Property

Published: April 26, 2010

The ‘Queen of Deccan’-Pune is located at the western margins of the Deccan Plateau, quite near to Mumbai. Pune has a very pleasant climate and a well developed urban area that spans about 700 sq Km. Of late, Pune has emerged as a big center for IT & automobile companies and numerous prestigious educational institutions [...]

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JLLM Predicts More Rise in Mumbai Residential housing prices

Published: April 22, 2010

Residential housing prices in Mumbai are expected to move further upside as sales increase and investor sentiments strengthen, a recent real estate report by Jones Lang LaSalle Meghraj (JLLM) said. “Demand for commercial spaces is improving and will continue to do so until the end of 2010. This will translate in to a large number [...]

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Ahmedabad, Pune Overshadow Delhi, Mumbai in Investment Segment

Published: April 14, 2010

Unlike other major cities like Mumbai, Delhi, Chennai and Bengaluru, real estate demand in Ahmedabad and Pune is higher in investment segments, said a real estate survey released by ICICI Securities, the largest integrated securities firm. The survey was conducted across eight Indian cities including Mumbai, Delhi/NCR, Bengaluru, Chennai, Kolkata, Ahmedabad, Hyderabad and Pune among [...]

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Crisil Report Predicts Stability in Property Rates

Published: April 10, 2010

A Crisil research report on residential property prices of India’s 10 biggest cities says prices will remain more or less stable with a moderate dip in prices in Mumbai and a marginal (2 per cent) rise in the National Capital Region (NCR) in 2010.
According to the report, the average capital appreciation in the 10 cities [...]

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Five lakh affordable homes planned in Mumbai, adjoining areas

Published: April 7, 2010

Maharashtra Chamber of Housing Industry (MCHI) has embarked on an ambitious plan of facilitating the creation of five lakh affordable houses by 2015 in co-ordination with the State Government.
The total investment will be around Rs 15,000 crore and more than 500 builders will participate in the project.
“We are closely working with the State Government and [...]

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SBI Increases Interest Rates on Home Loan

Published: April 5, 2010

State Bank of India (SBI), the largest bank in India and one of the leading players in the housing finance market, has raised interest rates on home loans. Although the bank will continue with its 8% teaser rate — which the SBI had introduced more than a year ago — for the first year, it [...]

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DLF to Launch Two Housing Projects in Mumbai

Published: April 1, 2010

DLF, the largest real estate developer in the country by market capitalisation, is looking to launch two housing projects in Mumbai at a price range of between Rs 15,000 and 25,000 per square feet as it expects the residential segment in the region to outpace the retail and commercial markets. The company will launch a [...]

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