Indian Property News on 'June, 2007'

JLL-Meghraj’s Initiative to Make ‘BIG’ in Indian Realty

Jones Lang LaSalle Meghraj, the company which has recently bagged status of being the largest real estate service firm, has come up with a three pronged strategy for Indian realty.

The firm is preparing itself to offer significant services covering the crucial segments of real estate – commercial, residential, retail and hospitality to developers in tier II and tier III cities. Read More »

Home Loans to Secure Over Earthquake Resistant Structures Only, says NDMA

Now, people borrowing home loans will have to ensure their home to be earthquake resistant, as per the new guidelines released by the National Disaster Management Authority (NDMA). Such a decision has been taken by the authority to strengthen collateral security. It will also prevent the borrower against parking fund into substandard properties.

Banks have been asked to consider the fulfillment of seismic safety before lending home loan for construction of multistoried buildings. NDMA has already sent copies containing new guidelines to the Ministry of Finance (MoF), which will forward it to the Reserve Bank of India for insurance. Read More »

Builders Line Up For Serviced Apartments in NCR

So far, serviced apartments have been a rising trend in Gurgaon real estate. Following in foot steps is NCR which would soon be sharing the same in wake of builders lining up to game for serviced apartments in the region.

The move has been decided to cater to shortage of accommodation with an eye on the tourist inflows to be generated by the Commonwealth Games. The race for the development for serviced apartments in NCR will include the prominent names such as DLF, Parsvnath, Ansals, TDI, and Vatika. Read More »

Wadia Group to Form JV with Simon Global

The Wadia Group has recently entered into a 50:50 joint venture with Simon Global Ltd. to make it BIG in Indian retail sector. Both the companies will develop exclusive shopping centers in India, informs an official close to the deal who did not wish to be identified. However, no formal announcement regarding the venture has been made yet.

The Wadia Group, one of the oldest companies of corporate India, has plans to develop 8-10 luxury malls over the next 10 years. These shopping centers would feature world class brands, restaurants, and entertainment zones among others. Read More »

Investors Bullish on Indian Retail Sector

Consumers are largely inclining towards contemporary style exclusive goods and retail models. India, China, and Russia have been sought after as the most lucrative destinations to invest in retail sector.

Retailers are looking forward to smaller cities as a common hunting ground, says the data showcased by a study of retail investment attractiveness among 30 upcoming property markets. Read More »

GIC in Joint Venture with Runwal Group

The GIC Real Estate, a property investment arm of the Government of Singapore has recently signed a joint venture agreement with Mumbai based property developer Runwal group to develop a commercial property in Ghatkopar, a suburb located in Central Mumbai.

The project will involve an investment of Rs 250 crore. Read More »

Cut on Regularisation Costs Bring Relief for Delhi Traders

Urban Development Minister Jaipal Reddy on Wednesday announced to reduce the conversion charges to be paid by traders for operating commercial units in residential areas of Delhi.

A notification to this effect will be issued today. Read More »

Banks Inclining More Towards Personal Loans

Banks are fast shifting their focus from secured loans to unsecured loans in the wake of stringent liquidity conditions. Credit cards and other personal loans fall under the category of unsecured loans whereas the home improvement loans are secured loan as they are provided against the borrower’s valuable possession.

Since January, a sharp fall has been observed in number of customers for home loans. But bankers feel confident about potential of unsecured personal loans. The slump in home loan customer acquisition is attributed to banks no longer pushing home loans forcefully. Read More »

Noor Capital to Tap Indian Real Estate

Noor Capital, an Abu Dhabi based private Joint Stock Company investment house, is bullish to invest in Indian real estate. Staying in step with the same motto, the firm has set up a real estate fund to invest in Indian real estate.

The proposed fund will pick up equity on a project basis in different FDI compliant residential and commercial realty projects in India. The firm has not revealed anything regarding the amount but the sources say it to be close to $500 million. Read More »

Circle Rates in Delhi Push Demand for Property in NCR

The Delhi Cabinet’s move of making the circle rates official has annoyed the real estate investors who had planned to invest in Delhi property market.

With this, the prospects of investments in the National Capital Region and other suburbs brighten. Read More »