Five ways to check a builder’s reputation

Date : May 13, 2014

If you are planning to buy a property under construction, don't just go by the brochure claims. A lot depends on the builder's competence and resources. ET lists some checks before you finalise a project. 1. Ground report You can conduct a quick Internet search by keying in the company name since customer forums, blogs, news reports, property sites, etc, typically have a lot of information. However, it is still a good idea to go in for field research. Talk to customers who bought units in old projects as well as local brokers. The current market price of the past projects in comparison to peers in the same locality is also an indicator of the builder's standing. You should check the credentials of the contracto

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Real estate industry awaits policy action from next government

Date : May 12, 2014

Like most other business sectors, the Indian real estate market holds its breath for a stronger and more determined government. The perception which is currently driving market sentiments is that market momentum can either accelerate, remain unchanged or decelerate depending on which party is voted into power. Speaking purely from the viewpoint of market sentiment, there is some validity to this perception. However, the fact is that the true benefits of political stability and proactive reforms — if these indeed ensue — will not be visible or tangible for quite a while after the new government takes over. Even if the next government proves to be ‘real estate friendly’, it has its work cut out. There are

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Embassy, Blackstone JV buys VTV for Rs 1,200 crore

Date : May 4, 2014

BANGALORE: Embassy Office Parks has formally announced the acquisition of the 106-acre Vrindavan Tech Village (VTV) in Bangalore and has renamed the property Embassy TechVillage. This deal was first reported by TOI in December 2012. Embassy Office Parks is an equally owned joint venture between Bangalore-based Embassy Group and global private equity giant Blackstone, which was formed two-years ago. The JV has acquired controlling stake of 60% in Embassy TechVillage with full management rights and board control for approximately Rs 1,200 crore. New Delhi-based Garg family, the promoters of the project, continue to hold 40% stake. The project, which has 1.9 million sq ft of leased office space, carries an enterpri

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Facebook fast becoming a business tool in India

Date : May 3, 2014

Social media site is now essential for young entrepreneurs. India became the world's second largest user of Facebook in April, with more than 100 million users. Increasingly, young Indians are also turning to Facebook as a business platform and not just as a social tool. Mobile phone Facebook use grew more than threefold in the last year, according to Sandeep Raja, divisional manager of Airtel. "Real estate prices in India are zooming, so setting up shop for a small marketer is next to impossible. Social media as a sales platform is investment-free," Raja said. "Young entrepreneurs are finding it easy to tap markets through Facebook and sales are made on the move thanks to mobile phones. We are seeing

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PE players bet on India's affordable and low-income housing sector

Date : May 2, 2014

BANGALORE | KOLKATA: India's affordable and low-income housing sector, which is short of millions of homes, is set for expansion with the segment finding favour with real estate-focused private equity funds. New York-based not-forprofit venture fund Acumen is looking to invest in this space in 2014, while Mumbai-based PE fund Avenue Venture Partners has tied up with Pune's Vastushodh Projects to invest in their affordable housing projects. Another PE fund, Brick Eagle Capital Advisory, plans to incubate companies to fill gaps in the affordable-housing ecosystem. India has a shortfall of about 22 million homes, of which 5-6 million are in the affordable housing segment. "Affordable housing is recession-proof an

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India Inc expectations 20 yr high from new govt: ASSOCHAM survey

Date : May 1, 2014

The level of expectations from the new government set to take office next month has risen to an all-time high, never seen in the last two decades from India Inc. They are setting different sets of agenda for the new Prime Minister - from revival of economic growth to fixing inflation and bringing down interest rates and unemployment within few months of taking over, an ASSOCHAM CEO survey has indicated. The expectation level is soaring by the day among different segments of the economy- stock markets, industry, trade, multilateral institutions and foreign investors. Heads of the diplomatic missions are also pinning their excessive hopes on the next government as they would like to reinforce their economic ties with India. Ho

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Private equity in Indian real estate on the rise

Date : Apr 30, 2014

An optimistic economic scenario and a booming property sector have investors queuing up to for a slice of the market Image Credit: Gulf News Archives Towering triumphs: Luxury properties such as this one in Pune have helped inject hundreds of thousands of rupees into India’s real estate through the private equity route in the past few months The continuous boom in the Indian real estate market and the consistent high returns on investment over the past few years have not only made it a preferred choice of investment for investors, but even made realty equity a profitable venture. Both institutional as well as individual investors are keen on a share of the Indian realty pie, and now even in

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India to spawn 500,000 jobs in 2 yrs: CBRE

Date : Apr 29, 2014

The prospects of landing a good job are set to go up, according to global real estate consultants CB Richard Ellis. Over 500,000 jobs are likely to be generated in India over the next two years, the bulk of them in Bangalore, Delhi-NCR and Mumbai, the company has said, basing its forecast on planned office space requirements by companies. Anshuman Magazine, chairman and managing director of  CBRE south Asia, said 70-80 million square feet of fresh commercial office space would be ready for possession by 2015, most of these being IT/ITeS spaces.  “Assuming about 60 to 65% absorption levels for this upcoming office space, approximately 400-500,000 employment opportunities may be realistically anticipated within

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Godrej Properties looking to enter Noida real estate mkt

Date : Apr 28, 2014

Godrej Properties has a strategy to develop real estate projects through joint ventures with land owners is keen on entering the Noida real estate market and is looking for a partner to develop a housing project, according to a top official at the company. The real estate arm of the Godrej group is developing 3 premium housing projects in Gurgaon in joint venture with land owners and has already tied up for a residential project in Okhla, Delhi Godrej Properties has a strategy to develop real estate projects through joint ventures with land owners. "Mumbai, Delhi-NCR and Bangalore are our major markets. We are looking at more projects in Delhi-NCR," Godrej Properties Managing Director and CEO Pirojsha Go

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TopTrends in IT trends in Real Estate sector

Date : Apr 27, 2014

The top IT trends that Real Estate Sector is witnessing are Big Data Management, ERP and Business networking solutions. The top IT trends that Real Estate Sector is witnessing are Big Data Management, ERP and Business networking solutions. Big Data which was a concept few years back is now a reality. Understanding Big Data fundamentals has now become even more important for organizations that are aiming to automate their business processes and are capturing every client interaction events. India has lately seen huge surge in adoption of ERP systems across Industries that too in SME segments. A report from Gartner published in August 2013 says ” SaaS based ERP is going to grow by 28 per cent CAGR in India for next Five

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IIFA Expo glitters with clothing, jewelry, food, real estate

Date : Apr 26, 2014

Real estate developers from India aimed to draw in investors. Two food stalls offered samosas and all things masala. UNICEF drew attention to children's issues. But most prominent at the IIFA Expo at the Tampa Convention Center on Thursday were the Indian clothes, bright and glittering. Mother and daughter Carol and Kelly Binding wandered through the 40 or so stalls mesmerized by wares retailers brought from mostly Atlanta but also Tampa, Chicago, New Jersey and even as far as New Delhi. "We just came here to learn about what the different outfits are and about the different kinds of saris and where you'd wear them," Carol Binding said. "Everything's so colorful." But as far as buying

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Bangalore fast emerging as top-ranking luxury home market: JLL

Date : Apr 25, 2014

A major factor driving real estate consumption in Bangalore is the consistency of job creation, which surpasses all other Indian cities, says the report BS Reporter  |  Bangalore  April 22, 2014 Last Updated at 18:40 IST     A new report from real estate consultancy firm -- JLL India, has said Bangalore is fast emerging as a top-ranking luxury homes market. The report authored by Om Ahuja, CEO, Residential Services, JLL, said that few cities can match Bangalore's real estate power. The Garden City of India has long since progressed from being the country's most preferred retirement destination to becoming its Information Technology capital -- a city of entrepr

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