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News Home The new investment mantra in real estate is satellite cities Date : Oct 23, 2014 New Delhi: Rapid urbanization has thrown up many complicated challenges for home owners as well as city planners. While most of the debate tends to revolve around how to improve living conditions in the core urban areas, real estate developers in many cities like Pune, Mumbai and Bangalore are now coming up with an entirely new solution – the creation of entirely new satellite mega-cities. These satellite cities, which are based on the integrated township model but on a much larger scale, offer urban dwellers the possibility of living in an environment of tailored infrastructure and with a vastly increased comfort and convenience quotient. The recently launched Pride World City in Pune’s new Un'real' estate? Buying houses still a distant dream for many Date : Oct 22, 2014 Reema Sharma The burgeoning price of real estate continues to keep Indian realty far from reality for many. Housing loans might have made buying a house easier but the difference between household incomes and rising property prices is widening with each passing day. Therefore, if a middle-class salaried person wants to book a house on loan, saving for the initial down-payment becomes a decisive factor. For instance, in the last three years, prices in Delhi NCR have almost doubled, however, industry-wide increase in salary has, on an average, gone up by only 15 percent. With a stable government at the Centre, business sentiments have also become buoyant and it is expected that housing prices will further flare up, thereby Govt’s ambitious ‘smart cities’ project could pinch your pocket Date : Oct 21, 2014 With an initial development cost estimate of Rs. 35,000 crore a year, the government’s ambitious ‘100 smart cities’ project will not come cheap. And the funds will in all likelihood come out of your pocket. A first blueprint, or concept note, prepared by the urban development ministry proposes a host of measures for raising funds from the public — such as a green tax on fuel sold to private vehicles as well as on commercial vehicles; a betterment tax (surcharge on stamp duty on sales transaction, property tax); and an urban tax on purchase of new vehicles, both private and commercial. The government hopes to earn Rs. 39,000 crore from these, and may pitch in with an additional amount (see bo Flipkart closes India’s largest ever office leasing deal, signs up for a 3 million sq ft campus Date : Oct 20, 2014 NEW DELHI: Flipkart has closed India's largest office space leasing deal by signing up for a 3 million sq ft custom built campus in Bangalore with local builder Embassy group. The first phase of the new campus for Flipkart, which recently raised $1 billion in fresh funding, will be delivered by Embassy by early next year as an incubation facility for over 2,400 seats. The first campus at Embassy Tech Village on the Outer Ring Road in Bangalore will be delivered in January 2017 as a plug and play office. One million sq ft of office space seats between 10,000-12,000 people. An Embassy official confirmed the deal. Flipkart could not be reached for a comment. Juggy Marwaha, managing director, south India for JLL, Investment Trusts, says Sebi official Date : Oct 19, 2014 Tax incentives are key to the success of Real Estate Investment Trusts (Reits) and Infrastructure Investment Trusts (InvITs), a senior Sebi official has said. In September, market watchdog Sebi had notified the norms for listing of business trust structures, Reits and InvITs, that would help attract more funds in a transparent manner into realty and infrastructure sectors. Both the structures, norms of which were approved by the regulator in August, would get tax incentives. "Countries like Singapore and Hong Kong had launched Reits but did not give any tax incentives because of which they did not kick off well. The whole Reits structure is motivated by tax benefit. If it is given, then it will work or else it wil Banned: Property tycoon KP Singh, who built India's first 'smart' city Date : Oct 18, 2014 (Reuters) - It was, by his own account, a chance encounter with a scion of the Gandhi political dynasty that turned former soldier Kushal Pal Singh into the man who built a city from nothing and made billions in the process. Singh was toppled from his spot as India's richest property developer this week, when his company DLF Ltd (DLF.NS) was hit with an unprecedented three-year ban from capital markets, accused by the regulator of failing to disclose key information at the time of its record-breaking 2007 market listing. Investors wiped more than $1.3 billion off the indebted company's market value after the decision. Village boy-turned-visionary developer, Singh may be largely unknown outside India. But as th Wells Fargo Donates $100,000 for J&K Flood Relief Efforts in India Date : Oct 17, 2014 SAN FRANCISCO--(BUSINESSWIRE)-- Wells Fargo & Company (NYSE:WFC - News) is donating $100,000 to United Way Worldwide to help with flood relief efforts in the state of Jammu and Kashmir (J&K) in northern India. Floods struck the region in September, killing at least 300 people, submerging hundreds of villages, and triggering landslides. Additionally, to make it as convenient as possible for customers to transfer money to India and help friends and family, Wells Fargo is waiving ExpressSend® remittance fees to India through October 31, 2014. “Flooding of this magnitude has not been seen in this area for quite some time,” said Tim Hanlon, head of Strategic Philanthropy and Partnerships for Wells Fargo. &ldqu Chennai residential market proves to be the most resilient in India Date : Oct 16, 2014 The Chennai residential market is one of the steadiest in India and has proved its resilience just after the global economic downturn which was one of the toughest periods for the country’s property market. Between 2008 and 2009 it remained relatively stable in terms of sales volume and price, compared to cities like Mumbai, NCR, Bengaluru and Hyderabad, according to a new analysis from international real estate firm Knight Frank. It explains that new infrastructure projects begun during the second half of 2014 including the building of the Outer Ring Road (ORR) and the Chennai Metro Rail, will lead to the emergence of new residential property growth corridors like Kuthambakkam, Chembarambakkam and Poonamallee along th Things to remember while buying a new property This Diwali Date : Oct 15, 2014 Buying a property is definitely a high point in life, be it for yourself or just for investment. Most of us are extremely excited during this process as it is a sign of progress. A lot of people invest in property during Diwali, what with the builders laying out a red carpet for investors with make-believe deals and discounts that sound great. However, while we are all happy and excited about this new move, it's always better to be sure when buying real estate. Here are some things to watch out for and never ignore while buying a property. Don't go for anything that sounds unbelievable How often have you heard this saying —'There's no such thing as a free lunch'? Remember everything comes at a Hiranandani Group Bags the Top Real Estate Developers Awards by Bloomberg TV Date : Oct 14, 2014 Mumbai, Maharashtra, India Bloomberg TV India along with knowledge partner JLL, announced the top real estate developers for both residential and commercial projects across in major cities. The list of ‘Top Ten real estate companies in Mumbai’ in the residential segment was headed by Hiranandani Developers. In a ‘double-win’, the ‘top ten’ in the office spaces segment for Mumbai was also lead by Hiranandani Developers. Niranjan Hiranandani, MD, Hiranandani Developers said, “We are delighted to top both segments, residential and office spaces, in Mumbai. It enhances our commitment to the company’s philosophy of “creating tomorrow” for “today&rsqu Fewer billionaires in India this year Date : Oct 13, 2014 Mumbai ranks fourth among the Top 10 Asian cities India has the sixth-largest population of billionaires worldwide, but the number of ultra-wealthy individuals that fit into this bracket witnessed a dip in 2014. According to the new Billionaires Census 2014 by wealth research and advisory firm Wealth-X and financial services provider UBS, the number of billionaires in India fell by 2.9 per cent to 100 in 2014 from 103 in 2013. What’s more, the combined wealth of the Indian billionaires club fell from $180 billion to $175 billion. India is preceded in the Top 10 rankings by the US, China, the UK, Germany and Russia, but has more billionaires than Switzerland, Hong Kong, Brazil and Saudi Arabia. However, the combined Good time to buy commercial property Date : Oct 12, 2014 Since prices are at rock bottom, you will get capital appreciation on the property value. These also offer higher rental yields than residential property For those looking to invest in real estate, commercial property is a better option than residential at this point of time, from the investment perspective. Given the oversupply in the commercial real estate space, prices are currently at rock bottom, as compared to residential property. In Central Mumbai, for instance, a commercial property is quoting at Rs 18,000 per sq feet, while the residential property in the same premises is quoting at Rs 28,000 per sq feet. Apart from Kolkata and Hyderabad, most of the leading cities are seeing the same trend. Delhi NCR has the high |
  
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