Indian Property News on 'August, 2007'

Kalpataru Properties bags CNBC Awaaz-CRISIL Real Estate Award

Kalpataru Properties Pvt Ltd. bagged the award for both the Best Residential Property and Best Organization Structure at the CNBC Awaaz – Crisil Real Estate Awards 2007, which held at Taj Landsend on August 16, 2007.

Hundreds of property developers sent in their nominations from across India for different categories. Entries were further sorted out under different categories such as retail, commercial and residential sectors from across the country. Read More »

Noida Raises Circle Rates

The recent rise of around 40-45% in circle rates for land in Noida can bring down the number of land transactions in the city, thereby crippling the already suffering property sellers there.

Recently, Noida has announced an increase in its own sector rates, which is believed to be the only reason for the hike in circle rates by the district administration, says a revenue department official. Read More »

Stock Market Witnesses a Slide

Real estate and banking stocks took a slide on Tuesday as the key stock indices fell to their lowest since 15 May 2007.  The BSE Bankex sees the biggest fall and was down 4.41% and wiped off the gains of the State Bank of India and ICICI bank.

The prominent builders including DLF Ltd, Indiabulls Real Estate, and Parsvnath Developers lost, taking the BSE Realty Index down by 4.59%. Read More »

Vipul Plans Rs 2000 cr Investment in Smaller Cities

Vipul Infrastructure Developers Limited, the eighth largest builder in India by market capitalization, is planning to expand its operation in tier-II and tier-III cities with an investment of a whopping Rs 2,000 crore.

The company will initially step into the cities including Chandigarh, Ludhiana, Mohali, Bhubaneswar, and Nagpur. At present, Vipul Ltd. is working on residential and commercial projects in Gurgaon. Read More »

Property Prices Stabilize in Mumbai

Mumbai real estate has been showing the signs of sluggishness for the past couple of months. The property prices in the city are not coming down but the rate of increase is lower. It is as low as five per cent in Vashi, Goregaon, and Thane.

However, exceptions are always there. This time they include Worli, Parel in Central Mumbai which have emerged as retail hotspots. Here, increase in prices is believed to be going through the roof. No flat was available for less than Rs 14,000 per sq ft in 2006 and it is Rs 23,000 per sq ft. in 2007. Read More »

Parsvnath Mulls to Tap Overseas Real Estate

Parsvnath Developers Ltd. draws plans to step into the international property market by setting up offshore companies in different countries to start with exclusive real estate projects overseas.

These offshore companies will come under the ambit of Parsvnath, says Pradeep Jain, Chairman, Parsvnath Developers. Read More »

DLF to Push a Price War in Chennai

Indian real estate giant DLF is all set to bring a property rush in Chennai. The company will soon introduce a residential project in Chennai’s IT hub, Mahabalipuram at half of the price quoted by other renowned builders.

DLF has purchased two 60-acre chunks of land to construct 4,000 and 5,000 housing units, including apartments, exclusive villas, and row houses. The prices for these housing segments will start from Rs 2,700 per sq ft. against market price of Rs 3,500 per sq ft. Read More »

It is all about ‘Luxe Living’ buddy!

Delhi, the Capital City is better known for its business environment, shopping bazaars and stand alone houses. While the preference of other metros are standing vertical, the denizens of Delhi seem to satiate themselves with either duplex or stand alone houses. However, the living trend is somewhat different in cities like Mumbai where living in expensive apartments has always been a matter of pride. Following in footsteps are the suburbs such as Gurgaon and Noida where real apartment action is taking place.

The craze for owning an exclusive apartment in these locations can easily be seen. A complete apartment block in Noida, each with the cost of Rs 4 crore was booked within days. Apart from offering the ultimate comfort and security, such apartments are more a status symbol and are nowadays forming delight cup of high earning couples. Read More »

A Glimpse at Realty Projects by Big Realty Players

Starting with the glazing cyber city of Gurgaon, the real estate projects can always be seen in their prime here.

K. Raheja’s Initiative

Richs who are looking for the right living space will soon have some attractive options from Raheja Developers. The company has launched a new residential project in Sector 108, Gurgaon. The project is believed to be the first project to be launched in the newly notified residential sectors of Gurgaon.

To come over an area of 10.67 acres, the proposed residential space would feature 2, 3, and 4 BHK as well as exclusive penthouses and row houses. Adding to value of lifestyle, these houses will undoubtedly come with massive price tags, with the basic rate of Rs 2,375 per sq ft. The project will come up at the Delhi border near Najafgarh. Its proximity to the IGI Airport and the proposed Ring Road of Gurgaon will be a matter of major convenience to the residents. Read More »

Rajasthan Govt. To Introduce Online Realty Deeds

Rajasthan Government has brought a new buzzword ‘Demat’ for Indian Real Estate. In an effort to bring greater transparency in the sector, the government has started a process in support with an NGO on urban governance Janaagraha, to dematerialize the sale deeds before linking to local municipal bodies.

Once dematerialized, all realty deeds will reflect the genuineness of the land titles, payment of property tax and other dues. The process will also safeguard the rights of property buyers. There is more to it. The government is also considering pushing for online real estate sales with the use of demat accounts. Read More »