Indian Property News on 'January, 2007'

Private Builders to Develop Residential Townships in Delhi

The Group of Ministers cleared Delhi’s Draft Master Plan 2021 earlier this week and the good news for real estate developers is that they will be allowed to build residential apartments and townships on 27,000 hectares of land to be made available soon.

This is a landmark decision, considering the Delhi Development Authority has so far enjoyed the monopoly of acquiring land in the capital for development. Read More »

DLF appoints four creative agencies in its roster

DLF, the Delhi-based real estate major, now plans to go national. Towards this end, it has added three creative agencies - FCB-Ulka, Capital Advertising and Lintas Personal - to its roster, while retaining the incumbent agency, Percept H. The four agencies will handle different projects for the company. Media duties will be handled by Percept Media, sources close to the development have told agencyfaqs!

When DLF started reviewing its creative and media duties in October 2006, seven agencies participated in the pitch. The company has allocated a media budget of Rs 25 crore, and this could increase in the future. The four agencies have been awarded business for one year, after which the creative and media duties will be reviewed. it is learnt that the company had given the agencies a brief to reposition DLF as a national brand and as a real estate company with innovative excellence and size. Read More »

Noida’s Real Estate Graph – What turn will it take?

Noida, NCR’s flourishing IT and residential hub shot into the limelight on December 29, 2006 with the serial killings case in Nithari, one of the township’s adjoining villages. Horrified and shaken, Indians are yet to recover from the macabre tales that made headlines for days.

The gory stories emerging from Nithari have brought to light the apathy, unaccountability and sheer brazenness of the police force. The role of the police in controlling crime, and maintaining vigil to provide a secure environment has always been in question, but firm and severe measures have to be taken now to prevent similar incidents in future. Local NGOs like the Manav Sewa Samiti have brought up issues of security and civic conditions in Noida with the authorities. Read More »

FDI Flow – to touch $ 8 billion in 2007

The Institute of International Finance (IIF) report on emerging markets tabled earlier this week observed the positive impact of major mergers and acquisitions by corporate giants overseas on FDI in India.

The IIF expects FDI in India to rise to $8 billion in 2007 from $6.5 billion in the last year. Mergers and acquisitions by corporate majors shore up increased investment in growing markets, and India is well poised to avail of their investment plans. Read More »

No Tax Sops for Non-Premium Housing?

Real estate developers may have to dig deeper into their pockets if the Government withdraws the income tax benefits they are currently enjoying under Section 80-1B (10) of the Income tax Act. This is likely to be enforced from the next fiscal year, 2007.

Property developers in Mumbai and Delhi enjoy tax exemptions on profits on residential property up to 1000 sq.ft in area, and up to 1500 sq.ft. in other cities. March 31, 2007 is likely to be the deadline for availing this benefit. Read More »

Your own Slice of Paradise!

Having a holiday home is not just the perquisite of the rich and famous any more. A study of real estate in Goa would reveal a plethora of apartments being bought up by young corporate executives who love the thrills that this seaside town provides.

Goa is a favourite holiday resort for youngsters with its beaches, yuppie culture, cafes and seafood joints. Holiday-makers make as often as four trips a year. With hotel rates shooting sky high -25% since 2005 - investment in property in Goa becomes a more lucrative option for many, as it offers very good appreciation. Read More »

Professionalism and Clarity – Need of the Hour for Indian Real Estate

The Indian property market is slated to leap frog to $102 billion by the year 2010 from its current figure of $14 billion, says Shyam Prasad Reddy, managing Director and Chief Executive Officer of Indu Projects Limited.

Reddy was participating in a panel discussion organized jointly by Ernst and Young Private Limited and the students of the Real Estate Club and the Wadhwani Centre for Entrepreneurship Development at the Indian School of Business on “Indian Real Estate – the Research Imperative”. Read More »

SEZs play developmental role in Indian economy, affirms Kamal Nath

Special Economic Zones carry multiple benefits of creating jobs, augmenting exports, building infrastructure of international standards and bringing in foreign investment. Kamal Nath, Union Minister of Commerce stressed on the advantages SEZs have at the awards ceremony of the Export Promotion Council for Export Oriented Units (EOUs) on 19th January, 2007

The SEZs will witness rapid growth in labor-intensive manufacturing and services. The minister estimated investment from SEZ developers to touch $60 billion (almost 300,000 crore) by 2012 if all SEZ approved projects are implemented. By the end of the year the minister expects a domestic investment of Rs.75, 000 crore, and an FDI of Rs. 25, 000 in SEZs alone. Read More »

Bio-IT Park coming up in Vaddodara

Mumbai based real estate developer Akurti Nirman Ltd. is coming up with a Bio tech Park in Savli, Vaddodara. Spread over 708 acres of land and being set up at an investment of a whopping amount, the park will largely focus on organic and agri-products.

Holding 66% equity stake in the concerned project, Akruti Nirman spearheads Chatterjee Group as well as the Gujarat government, each of them which hold 23% and 11% respectively. As per the information provided by the industry sources, this famous real estate player is seeking contribution from different companies to set up facilities at the park. Read More »

Landbanking – A new arena in Real Estate

The real estate is unfolding new areas of business as it matures into a full-blown organized industry. With developers on a massive land acquisition search across the country for their projects, acquiring land from local farmers or owners is a major challenge for them. Even the state governments find this to be the most ticklish of issues.

However local landlords are coming to the rescue of these developers. In a position to wield more power with landowners and farmers in their area, the bigger landlords are mopping up land in their vicinity and selling it off to the developers who are not familiar with the territory. Such landbankers, as they are known, even decide which developer will enter a particular territory. Read More »