Indian Property News on 'December, 2006'

Why Just Faridabad Property?

One reason standing for the success of fast developing Faridabad can be discussed from development viewpoint. With excelling in industry, better medical facilities and better infrastructure, anyone can look forward to new Faridabad in approaching years.

Faridabad, enjoying the status of being industrial heart of Haryana, has grown enormously in the past few years, chiefly because of a large number of industries have come up in the town. Read More »

Gurgaon Property Builders to Pay a ‘Metro Cess’

Now, bringing Delhi’s Metro Rail into Gurgaon and Ghaziabad is going to cost. The Haryana and Uttar Pradesh are considering imposition of a ‘Metro Cess’ to finance several upcoming Metro projects.

The Haryana Government has thought of making its contribution by levying a tax on property developers to raise Rs.680 crore needed for development of Gurgaon’s Metro Rail, says SS Dhillon, director of town and country planning, in the Haryana Government. It would be mandatory for all property builders to pay the tax that will be a part of external development charges. Read More »

Gurgaon Sealings – A boon for residents or curse for traders?

The HUDA stepped up its drive and took action against unauthorized commercial establishment operating from residential areas in Gurgaon. The action was spread across the entire Gurgaon, with majority of the effect being seen in DLF Phase I, where the agency sealed 40 units.

369 shops were sent the legal notice for running shops from residential premises in HUDA sectors. Of this, 119 have complied with the notice whereas the rest are still continuing to do business. Despite the fact that there was such a stringent warning beforehand, none of the traders with shops in private colonies have followed it. Read More »

Signature Group to Launch Real Estate Funds

Dubai-based asset management firm, Signature Group, has announced to launch two real estate funds total over $650 million which would be listed on the Dubai International Financial Exchange (DIFX) in the first quarter of 2007. The money will be used to finance development projects in UAE and India.

Company authorities are currently holding talks regarding negotiating distribution agreements in the Gulf region and other parts of the world, says Rafat Rivzi, board director of Signature Group. Read More »

Gulf investors bullish on investing in Indian Real estate

Indian real estate has firmed its niche in the world business space encouraging global players to take a fresh view on fast flourishing India as a business and investment destination. Now, it has been succeeded in attracting Gulf investors by offering the prospects of lucrative returns, tax structuring benefits and increased security being real asset.

The Gulf companies that so far have shown inclination to add Indian property as an asset class to their investment portfolio include the names like Global Asia Real Estate, Dubai Properties, the Signature Group, the Palmon group. Read More »

Real Estate Prices Rise in Tier II and Tier III Cities

As property prices in metros see a shoot up, Tier I and Tier II cities have emerged as the most promising market for residential as well as retail developments. Now, these places experience a sharp increase in property prices which has gone along with increased demand. It has shot up by as much as 40% in the past two years which is believed to be the highest as compared to earlier hike descriptions.

The property boom in Tier II and Tier III cities is further fuelled by the factors like opening up of financial sector, rationalization of income tax and loan policies in addition with well-paid IT jobs. However, the rise in prices does not square with the earning capabilities and is being considered as an unhealthy sign in the long run. Read More »

Indian Government gives green signal to FDI Proposals

The government on Thursday gave a nod to the FDI proposals worth Rs. 4,853 crore, a major portion of which (Rs, 4,080 crore) has been allocated for the use in real estate sector.  It is certainly a merry time for both the NRIs and foreign investors who have been eyeing Indian real estate for long.

Finance Minister P. Chidambaram has approved the two sets of investments by a clutch of overseas investors to invest in commercial as well as residential property, IT parks, and special economic zones. Read More »

Bangalore Prepares to Get a Major Facelift with 5 Satellite Townships

If the Karnataka Government gets its planning right, then Bangalore is all set to witness a massive phase of development with a cluster if five privately built satellite townships spread over a total of 60,691 acres around this cyber city known as Silicon Valley of India.

The intent of the new regime in the Bangalore to develop Satellite Township is seeing majority of bidders jostling hard to grab the project which is to be created on 9684 acres of private land, in Ramanagaram constituency. Indeed, the list also includes the names of major construction consortiums such as Shanghai Urban Construction Corporation and Singapore based Jurong Construction Company. Read More »

Genpact to Develop SEZs in fast developing cities

BPO giant Genpact has announced its plans to spread its wings to the fast developing cities of Bhopal, Bhubaneshwar, and Jaipur with set-up of three special economic zones (SEZs). It has already been succeeded to get a nod from the ministry of commerce in these cities. The talks are in the final stage of negotiations with the three state governments.

Formerly called Gecis Global, Genpact has signed a lease and is all set to construct a 1 million (10 lakh) square feet facility on a 12-acre plot within the IT SEZ being developed by DLF in Silokhera, Gurgaon (Haryana). Read More »

Japan to Construct Delhi-Mumbai industrial corridor

Apart from sharing a global vision of peace and stability, India and Japan are now marking a new eon of economic prosperity, a milestone of which is the success of Delhi Metro Project.

Business relationships between these two great countries are all set to get more strengthened with development of a Delhi-Mumbai industrial corridor which will symbolize the new vivacity in economic relationships between Asia’s chief economies.

The first round of the meeting regarding signing an economic partnership agreement (EPA) will be held soon. The EPA would include discussion on different issues like trade in goods and services, investment promotion, and intellectual property rights. Read More »