Indian Property News on 'March, 2007'

Where is Indian Real Estate lacking?

Indian real estate is raising the bar of performance a notch higher each day. But the industry is known to be unorganized and is dominated by a handful of players and supply of manpower.  There is definitely a lack of required professionals; one, at the first line supervisory and project manager level; and two, at the workmen or entry level.

The shortage is more acute at higher level. Actually, there are few people with the kind of professionalism needed to stay in step with the growing number of real estate projects. They are the prime targets for poachers both in domestic and international market.  The economic boom has caught India when it was unprepared and everybody is competing for the limited supply of skills. Read More »

Real Estate Academy for Developers to Come Up in Pune

Pune’s property developers are soon to establish a Real Estate Academy for Developers (READ). The move is taken to stay in step to fulfill the requirement of qualified and trained professionals to manage the growth.

The Promoters and Builders Association of Pune (PBAP) is looking forward to set up a real estate project worth Rs.1.48 crore. The institute would use its own capital and has its own faculty. The institute will nurture the future leaders of Indian real estate sector. Read More »

DLF Enters JV with UAE Co Nakheel

India’s prominent real estate developer, DLF and Nakheel, a large builder from the UAE, signed a 50:50 joint venture for two integrated townships which would come up over an area of 40,000 acres in India. The project will use a handsome investment of USD10 billion.

Nakheel is a private enterprise that operates under the umbrella of Dubai World. At present, the company has 17 major construction projects worth more than $30 billion. Nakheel’s portfolio comprises of a number of projects in UAE such as The Palms, Dubai Waterfront and The World. Read More »

Timely Payment with Timely Allocation of Land, Says Parsvnath

Parsvnath Developers, one of the leading real estate development companies in India, is to be considering the issue of payment of a whopping Rs 100 crore to the Chandigarh Housing Board (CHB) after the controversial issue of less allocation of land to them for the development of a residential project at the IT Park. This may put execution of the project on hold.

CHB officials would provide some alternate land plots to property developers. The issue is under the consideration of the board. However, the developer cannot delay the payment of installment, says a senior CHB official. Read More »

Increasing Real Estate Projects in India

A substantial increase has been seen in the number of real estate projects in India which have shown a mark appreciation from around Rs 30-60 crore, to between Rs 500-2,500 crore at present day.

Apart from the 200% growth in the past few years, real estate projects including commercial, residential, and retail is likely to reach sky high. This is one of the leading factors accountable for increasing property prices across the board. The first phase of the 2,504 acre hi Tech Township by Ansal Properties and Infrastructure Limited in Greater Noida, is estimated at Rs 20,000 crore.

However, such exclusive real estate projects are an addition to the prevailing projects ranging from Rs 500 crore to Rs 2,500 crore. Unitech, a leading property developer in India, is making an investment of Rs 2,500 crore in a mega integrated residential project, also in Greater Noida. Read More »

Nandigram Issue to Affect the Real Estate Growth

The newest real estate trend in India, which talks about construction of special economic zone (SEZ), has proved itself a catalyst in boosting the economic growth of the country. And, the Nandigram (West Bengal) debacle has come up with some serious issues. The most important of all is to put aside the common interests of common man for the mere sake of profitability.

Likewise, the property developers must see to safeguarding the interests of industrialization and economic liberalization from limited profiteering angles. The real estate industry must look towards the implication of more important parameters on the development of SEZs in addition to the prevailing ones. The whole issue is far too vague. Read More »

After Delhi, Bangalore to be the Next Maximum City

The Garden city of India, Bangalore is to witness amazing developments in its residential sector. Real estate developers are known to have fastened their seat belts to offer exclusivity to prospective buyers in the city.

With a European style villa, skyscraping residential complex having a single apartment on each floor, and an apartment with its own helipad, the days are not far enough when Bangalore will be counted among the most sought after cities in the world. Read More »

SEBI Tightens IPO Norms for Real Estate Companies

The stock market regulator has tightened the disclosure norms for real estate companies raising money through shares thereby putting an end to unsubstantiated claims regarding the extent and valuation of these companies’ land banks.

The Securities and Exchange Board of India (Sebi) has also made it compulsory for all initial public offering (IPO) to be rated by the agencies and the grading of IPO will come into effect immediately. Read More »

An Introduction to HUDA

The Haryana Urban Development Body (HUDA), a statutory body of Haryana Government, was constituted to promote development of urban states with the prime authority to manage, sell and dispose off the lands/properties to the best advantage of the states and government.

Apart from undertaking construction works, the authority is also committed to make available developed land to for providing houses to economically weaker sections of society. With the efforts taken up by the HUDA, Haryana is today standing on the threshold of development. The cyber city of the state, Gurgaon, is a prime example that serves as a role model for a number of other upcoming cities. Read More »

A View on Delhi Hotel Industry

Driven by an increase in number of leisure and business travelers, hotel industry is likely to zoom away in near future. With an array of hotel projects across the metropolitan cities like Mumbai, Delhi, Chennai, and Bangalore, hotel rooms in India are likely to grow even beyond their current highs.

Catering to the demanding requirements of its increasing tourists, Delhi has a multitude of luxurious hotels offering top notch hospitality and leaves an everlasting impression on the visitors’ minds. Hotels in New Delhi are better known for their royal treatment of guests and worlds class services. Read More »