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Bangalore No. 1 market in India for luxury homes

Comments Off   |   April 21, 2014    05:09am   |Contributed by Indian Realty News

BANGALORE: When it comes to luxury homes — units priced above Rs 5 crore — Bangalore is setting benchmarks to emerge as the country’s top luxury home market, says a report by JLL India, an international property consultancy firm. Quality of construction, design, ventilation, floor-to- ceiling height, amenities, floor plans, building elevation and configuration aspects are among the factors fuelling Bangalore’s rise to the top, the report says. Most importantly, pricing of luxury residential properties in the country’s IT capital is seen to be far more reasonable and realistic than Mumbai and NCR, says JLL’s report, shared exclusively with TOI. “Luxury properties in Bangalore are 20% to 30% cheaper. While [...] read more »

Investor sentiment in Indian real estate sector positive

Comments Off   |   April 21, 2014    05:08am   |Contributed by Indian Realty News

Investor sentiment in the Indian real estate sector is becoming increasingly positive with the prospects getting brighter for the formation of a stable government in New Delhi in the post-poll scenario. “A change of government in New Delhi after 10 years of rule by the United Progressive Alliance led by the Congress looks almost a certainty and we hope the next government’s economic policies will be key drivers to reviving the growth in the real estate sector,” said D.K. Aggarwal, chairman of SMC Real Estate Advisors, a leading financial services provider in India. Aggarwal, who was in Dubai to take part in the Indian Property Show organised by, said [...] read more »

Real estate broking portal IndiaHomes raises $24.9M from New Enterprise Associates

Comments Off   |   April 19, 2014    03:24am   |Contributed by Indian Realty News

Gurgaon-based India World Technologies Pvt Ltd, the company that owns and operates the real estate broking portal has raised Rs 150 crore ($24.9 million) from New Enterprise Associates (NEA). Existing investors Helion Venture Partners and Foundation Capital also participated in the round. NEA led the new round with more than half of the funding, and as part of the transaction, Bala Deshpande, senior managing director, NEA India will join the company’s board. This is Helion’s third investment in IndiaHomes. The company had earlier raised Rs 120 crore from Helion and Foundation Capital in 2012. Founded by Samarjit Singh in 2009, IndiaHomes (formerly Agni Property Services Pvt Ltd) has a [...] read more »

Robert Vadra, In-Law of Sonia Gandhi of India’s Ruling Congress Party, Quickly Built Real-Estate Portfolio

Comments Off   |   April 18, 2014    09:11am   |Contributed by Indian Realty News

KOLAYAT, India—A taciturn man in a black SUV started buying up tracts of arid agricultural land around this small town in the western Indian state of Rajasthan in 2009. He would sit in the parking lot outside the one-story concrete building that houses the land office and dole out cash for sellers from the back seat, according to real-estate brokers and a local government land official. The buyer represented by the man in the SUV, according to state land records, was Robert Vadra, a member of India’s powerful Nehru-Gandhi political clan, whose Congress party leads the country today and has for much of its more-than-66-year post-colonial history. Soon after he [...] read more »

BJP’s attack on Robert Vadra hurts DLF stock; falls 12% in 3 days

Comments Off   |   April 18, 2014    09:06am   |Contributed by Indian Realty News

MUMBAI: For perhaps the first time in any general election, India Inc has featured heavily in the heated exchanges among parties, with crony capitalism emerging as one of the big poll themes, thanks especially to the Aam Aadmi Party. Among companies, India’s biggest real estate developer DLF has sustained heavy collateral damage in the crossfire because of its alleged links to Sonia Gandhi’s son-in-law Robert Vadra. BJP leader Uma Bharti was explicit, saying on April 12 that Vadra would be jailed if the NDA came to power. Although the company itself hasn,t been named in the recent comments regarding Vadra, investors have been fleeing the stock — it slid more [...] read more »

Builder arrested for cheating, forging documents

Comments Off   |   April 17, 2014    03:28am   |Contributed by Indian Realty News

The Bandra police arrested a builder on Tuesday for allegedly cheating and forging papers of a family that owned nine properties in a building. According to the complaint, on checking with the registrar’s office, the family found that only one property had been officially listed against their name. The police officers said the builder has been identified as Arun Soni (44). He will be presented before the court on Wednesday. The complainant, Bhimraj Zhaveri (50), approached the Bandra police, a week ago, claiming that he owned nine properties at the Rajab Cottage and Baksobhai Mansion buildings at Hill Road in Bandra. “Soni showed interest in the property to buy it [...] read more »

Lodha can make 25% profit margin on Thane deal: JLL

Comments Off   |   April 17, 2014    03:27am   |Contributed by Indian Realty News

Real estate developer Lodha has bought 87 acres in Thane for Rs 1,154 crore from Clariant Chemicals on Tuesday. Since the beginning of 2014, property deals worth Rs 3,000 crore have taken place. The latest one being Lodha buying 87 acres in Thane for Rs 1,154 crore on Tuesday. Ashutosh Limaye, Head – Research & Real Estate Intelligence Service (REIS), Jones Lang LaSalle India, says though the residential market sales are dropping due to high prices, but demand for land is high as it is the “most basic ingredient of development for any real estate company… and is in severe short supply”. He thinks Lodha’s Thane deal is a win-win [...] read more »

Ex-servicemen’s welfare centre hope hits hurdle

Comments Off   |   April 17, 2014    03:25am   |Contributed by Indian Realty News

NAVI MUMBAI: The 2008 proposal to construct an integrated welfare centre for ex-servicemen (ESM) of the Indian Army, Navy and Air Force has hit a hurdle over the price quoted by the City and Industrial Development Corporation (Cidco) for the plot allotted in sector 5, Kharghar to the Sainik Welfare Board, state government department. Cidco had allotted the plot to the board on December 20 at Rs 8.71 crore, which Belapur-based ex-servicemen league has calculated to be 540% more than the 2010 alloted rate of Rs 1.36 crore. The league, in a letter addressed to Cidco managing director Sanjay Bhatia on April 4, asked for an immediate solution to the [...] read more »

Recon 2014’ Real Estate Meeting from May 2

Comments Off   |   April 17, 2014    03:24am   |Contributed by Indian Realty News

‘Recon 2014’, Kerala’s first real estate convention being organised by the Kerala Realtors Association (KRA), along with the National Association of Realtors, will be held at Dream Hotel, Kochi, from May 2 to 4. The meet is intended to be a reality check with the industry covering all the stakeholders across the real estate landscape. Other than connecting major players from different segments, the  meet is expected to brainstorm about different issues facing the industry. The meet assumes significance as it comes in the wake of the industry facing a shakeout, thanks to the overall slowdown. The meet is also expected to take stock of the price situation prevailing in [...] read more »

Noida Authority seals Supertech towers

Comments Off   |   April 17, 2014    03:23am   |Contributed by Indian Realty News

Noida Authority has sealed realty firm Supertech’s two 40-storey towers with more than 800 flats following the Allahabad High Court’s order to demolish the buildings. The towers — Apex and Ceyane — have a combined 857 apartments, of which 600 were sold, and are a part of Supertech’s Emerald Court project.On April 11, the court ordered the demolition of the two buildings in Noida and the refund of money to apartment buyers in response to a petition that alleged their construction had violated the law. “The two towers have been sealed as per court direction,” a senior official of Noida Authority said. Supertech, which has suffered a major setback with [...] read more »

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