Indian Property News on 'August, 2007'

Real Estate Contours of Free India

The emergence of Indian property market after Independence Day gives the true scenario of ups and downs in the Indian Economy. The contours go like this: 1950s – Government to become a monopoly provider, 1960s – shortages and inferior quality during the 1960s, 1970s, and 1980s. Finally, the government lost its hold on the economy, and gave the control in hands of private sector in 1990s. Now, staying in step with good supply, property prices in Indian metros are going through the roof, thereby crippling already suffering consumers.

At the time of Independence Day, India’s population stood at 35 crore, of which, just 14 per cent lived in urban areas. With increasing urbanization, the pressure on urban housing and infrastructure also increased. The government then decided to regulate the economy by itself. Read More »

Indian Realty Cos Will Lead Others in Asia

There is no harm to existing large real estate stocks from the rush of initial public offerings (IPOs) in the sector, say industry experts.

As opposed to this, large property developers in India are bullish on to push their financial growth than their counterparts in the Asia Pacific region for the next few years.

Stocks of realty majors such as DLF, Parsvnath Developers Ltd, Anant Raj Industries Ltd, Ansal Properties Ltd, Sobha Developers, Unitech Ltd, and others are likely to perform better than those in other prime Asian markets like China, Hong Kong, Singapore, and Malaysia, says top property developers in the Asia Pacific region report compiled by JP Morgan, one of the world’s leading investment banks. Read More »

FIIs Hold High Stakes In Real Estate Cos

The booming property market has been an apple of eye for foreign investors as they have raised their stake in several prominent construction companies listed on the bourses.

In addition, Indian real estate stocks are believed to be the most expensive in the world.

Holding pattern of FIIs in 22 major realty companies show that most of them have raised a stake in the April-June quarter as compared to the previous three month period. Read More »

‘Filing Building Plans’ To Be An Online Provision

The Capital will soon introduce a provision of filing building plans and getting them approved online.

The government is fast stepping up its efforts to bring in a public friendly transparent system to reduce the problems faced by Delhiites in registration of construction plans. Such steps will help to eradicate the malaise, says Delhi Mayor Arti Mehra.

The introduction of online filing of property taxes by the MCD earlier this year turned out to be a huge success. More than 1.5 lakh assesses chose to file their income tax returns online. Read More »

‘Goa SEZs’ Hang in Limbo

With an expected proliferation of IT companies in Goa, the state authority has sought permission to set up 15 Special Economic Zones (SEZs). Of this, the Centre has given a nod for seven of them. Although, Goa has got the approval but still has to decide on the procedure of acquiring land.

Land is a factor that appears hard to come by in Goa. Around 40% of the state’s land come under forest zones, and hence, cannot be considered for commercial purpose. On the other hand, the available prospective land is abided by stringent rules framed during the Portuguese rule. Read More »

Under Construction Properties in Delhi, NCR Fetch High Price

At present, there are several under construction properties in Delhi, of which, many are likely to be up for possession latest by 2010. Therefore, one has to be highly careful while investing in properties that could land in trouble with the law.

The best way to invest in real estate is to seek professional assistance of a property consultant who can offer you multiple options in a wide geographical area rather than a specific spread, says Rajiv Garg, a resident of Ashok Vihar. Read More »

Saffron To Raise Rs 300 Crore For Domestic Realty Fund

Saffron Asset Advisors, a UK based real estate asset management company plans to raise Rs 300 crore for a domestic realty fund and offshore sector specific funds in logistics, hospitality, health care, and infrastructure.

It is also pondering upon to float a $100 million hospitality fund and a $200 million health care fund which will make investments in various assets, informs Ajoy Veer Kapoor, Managing Director, Saffron Asset Advisors. Read More »

Paint Majors To Bring Further Boost In Indian Realty

New entrants in Indian real estate are the renowned paint companies which are extremely bullish on India.

The country has attracted the interests of the Japanese pain major, Nippon, which says to invest around Rs 80 crore to set up an array of manufacturing facilities in Gurgaon and a 25 acre unit in Chennai.

Indeed, the sector will see the investments from the world’s largest supplier of paints and coatings, Akzo Nobel which may acquire ICI Paints globally for $16 billion. The Dutch giant is has moved a step closer to tap Indian realty. Read More »

Need For Transparency in Real Estate

Transparency is the key to take Indian real estate to the next level. This underlines a need for a federal regulator which will enable to bring best practices with a promise to be clued on to INNOVATION.

Indian property market has come of age and fast attracting interests of global realty players and investors from all over the world. The contribution of these big companies and their bullishness to set a substantial presence has given a major boost to growth of the sector. Read More »

Dwarka Real Estate Sees Big Time Growth

Dwarka has certainly undergone a paradigm shift in the past couple of years with frentic real estate developments in city. With high rise apartments and planned townships, the city is witnessing a new trend in lifestyle living. Besides apartments, the concept of integrated township is also ushering in Dwarka with many prominent players busy developing exclusive projects here.

The rate of residential property in Dwarka has doubled within two years. No good residential property is available for less than Rs 70 lakh now. Metro has emerged as a matter of major convenience for the residents here. With Metro having started, it has become easier to get to any part of Delhi, says Asha Malhotra, a resident. Read More »