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Source: INRnews.com The information provided below has been compiled by www.99acres.com
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Realty Prices Likely To Increase By 20% In Q4
Realty prices of both residential and commercial property are likely to go up 15-20% in the next quarter, across Indian cities, according to top builders and international property consultants. They feel that it is due to hike in land cost, infrastructure cost and a rise in demand for homes by 10% to 15% across Indian cities. Industry experts believe that the hike in real estate prices will come at a time when the Reserve Bank of India (RBI) is likely to hike interest rates on home loans by 25 to 50 basis points in the next quarter.
13 Nov 2009 The Financial Express
Realty prices of both residential and commercial property are likely to go up 15-20% in the next quarter, across Indian cities, according to top builders and international property consultants. They feel that it is due to hike in land cost, infrastructure cost and a rise in demand for homes by 10% to 15% across Indian cities. Industry experts believe that the hike in real estate prices will come at a time when the Reserve Bank of India (RBI) is likely to hike interest rates on home loans by 25 to 50 basis points in the next quarter.
13 Nov 2009 The Financial Express
Delhi Continues To Be The Preferred Choice Of Developers And Investors
The National Capital, Delhi, continues to be the preferred choice of developers and investors in the realty sector, followed by Mumbai. This has been revealed by the findings of a FICCI-Ernst & Young report. According to the report, some important factors that have helped Delhi retain this rank are the fast paced improvements in physical infrastructure such as the functional metro railway, modernisation of the international airport, road widening projects, and dedicated efforts to make the ring roads signal free. The growth of Gurgaon and Noida has also contributed to the business environment index, as stated in the report. However, Mumbai scores better on the business environment index although the pace of infrastructure development in Mumbai has been slower, pushing the city down by a notch.
13 Nov 2009 The Financial Express
The National Capital, Delhi, continues to be the preferred choice of developers and investors in the realty sector, followed by Mumbai. This has been revealed by the findings of a FICCI-Ernst & Young report. According to the report, some important factors that have helped Delhi retain this rank are the fast paced improvements in physical infrastructure such as the functional metro railway, modernisation of the international airport, road widening projects, and dedicated efforts to make the ring roads signal free. The growth of Gurgaon and Noida has also contributed to the business environment index, as stated in the report. However, Mumbai scores better on the business environment index although the pace of infrastructure development in Mumbai has been slower, pushing the city down by a notch.
13 Nov 2009 The Financial Express
No Boom In The Housing Sector Yet: Assocham
Industry body, Assocham said that profitability of realty majors declined by 56 per cent in the first half of 2009-10, which contradicts concerns over formation of a housing bubble in the country. "Financial performance of realty majors during the first half of current fiscal shows a grim picture of the sector with a decline of 56 per cent in net profit, dampened by 51 per cent rise in financial charges and interest cost," it said. The total income of biggies in the business declined by an average of 40 per cent in line with the fall in net profit while the total expenses of sector registered an average decline of 35 per cent despite an increase of 51 per cent in interest cost. And as far as the commercial property is concerned, the study said the demand for commercial property is likely to remain in doldrums for remaining period of 2009-10 unless business confidence improves considerably.
10 Nov 2009 rediff.com
Industry body, Assocham said that profitability of realty majors declined by 56 per cent in the first half of 2009-10, which contradicts concerns over formation of a housing bubble in the country. "Financial performance of realty majors during the first half of current fiscal shows a grim picture of the sector with a decline of 56 per cent in net profit, dampened by 51 per cent rise in financial charges and interest cost," it said. The total income of biggies in the business declined by an average of 40 per cent in line with the fall in net profit while the total expenses of sector registered an average decline of 35 per cent despite an increase of 51 per cent in interest cost. And as far as the commercial property is concerned, the study said the demand for commercial property is likely to remain in doldrums for remaining period of 2009-10 unless business confidence improves considerably.
10 Nov 2009 rediff.com
Right To Shelter Needs To Be A Fundamental Right
Rajya Sabha member of the parliament, Mr. NK Singh said that India needs a constitutional amendment to make the right to shelter a fundamental right while stating that the country would face shortages of 28 million affordable houses by 2010. He said that the country should look for a constitutional amendment for the right to shelter as the scale of the problem is very large and is going to intensify.
10 Nov 2009 rediff.com
Rajya Sabha member of the parliament, Mr. NK Singh said that India needs a constitutional amendment to make the right to shelter a fundamental right while stating that the country would face shortages of 28 million affordable houses by 2010. He said that the country should look for a constitutional amendment for the right to shelter as the scale of the problem is very large and is going to intensify.
10 Nov 2009 rediff.com
Lodha Developers Plans To Come Up With IPO In December
Lodha Developers is planning to launch an initial public offering to raise up to Rs 30 billion ($640 million) in December, encouraged by a revival in demand for homes, said a top company official. The Mumbai-based realtor, which focuses on high-end residential apartments in and around the city, will use the proceeds for retiring debt, to fund fresh land acquisitions and for working capital for on going projects.
11 Nov 2009 DNA
Lodha Developers is planning to launch an initial public offering to raise up to Rs 30 billion ($640 million) in December, encouraged by a revival in demand for homes, said a top company official. The Mumbai-based realtor, which focuses on high-end residential apartments in and around the city, will use the proceeds for retiring debt, to fund fresh land acquisitions and for working capital for on going projects.
11 Nov 2009 DNA
SBI's 8% Home Loan Offer Extended Till March 2010
Here's good news for buyers who are looking to cobble together funds to buy an attractive property. State Bank of India has decided to extend its 8 per cent home loan scheme till March 31, 2010, just a day before it was due to expire. This measure is sure to further intensify the already heated competition in the home loan segment.
11 Nov 2009 indianrealtynews.com
Here's good news for buyers who are looking to cobble together funds to buy an attractive property. State Bank of India has decided to extend its 8 per cent home loan scheme till March 31, 2010, just a day before it was due to expire. This measure is sure to further intensify the already heated competition in the home loan segment.
11 Nov 2009 indianrealtynews.com
Indiareit To Raise Domestic Real Estate Fund of Rs 500 Crore
Indiareit Fund Advisors Pvt Ltd is planning to pick up a stake in a residential project of Pune-based realty major Panchshil. Mr. Ramesh T Jogani, chief executive officer and managing director of Indiareit, said, "The company is currently raising a domestic real estate fund of Rs 500 crore. The scheme, which was opened in the first week of November with a ticket size of Rs 50 lakh, will have its initial closure by end-January. Indiareit is the process of identifying three real estate projects in Pune, Mumbai and Bangalore to utilise this fund." The company will invest around Rs 150 crore of the Rs 500-crore domestic corpus in a real estate project promoted by Panchshil in Pune through a special purpose vehicle (SPV).
11 Nov 2009 indianrealtynews.com
Indiareit Fund Advisors Pvt Ltd is planning to pick up a stake in a residential project of Pune-based realty major Panchshil. Mr. Ramesh T Jogani, chief executive officer and managing director of Indiareit, said, "The company is currently raising a domestic real estate fund of Rs 500 crore. The scheme, which was opened in the first week of November with a ticket size of Rs 50 lakh, will have its initial closure by end-January. Indiareit is the process of identifying three real estate projects in Pune, Mumbai and Bangalore to utilise this fund." The company will invest around Rs 150 crore of the Rs 500-crore domestic corpus in a real estate project promoted by Panchshil in Pune through a special purpose vehicle (SPV).
11 Nov 2009 indianrealtynews.com
Competition In The Realty Sector Getting More And More Intense
With top builders witnessing actual sales conversion of residential apartments in the metro cities during the first seven months of the current financial year, the competition has started becoming intense in the real estate market. Encouraged by the response, builders have started charting fresh strategies to increase the number of residential projects. Mr. Abhisheck Lodha, director, Lodha Group, said, "We have sold 4,500 units of residential apartments (around 50 lakh sqft) during the past seven months. During the third and fourth quarters, we hope to sell an additional 5,500 units. Prices, at present, are such that buyers find it attractive. People have buying power and the real buyer is coming to the market." Amid revival in the realty market, the demand for projects launched by major realtors has been much stronger compared to the peak witnessed in 2007. As per industry experts, 30% of the demand is for residential projects in the price bracket of Rs 5-15 lakh, 26% is between Rs 15 and Rs 25 lakh and 22% is in the range of Rs 25-40 lakh. Around 12% of the buyers go for apartments priced between Rs 35 and Rs 50 lakh, while a mere 6% are willing to pay over Rs 50 lakh.
13 Nov 2009 The Financial Express
With top builders witnessing actual sales conversion of residential apartments in the metro cities during the first seven months of the current financial year, the competition has started becoming intense in the real estate market. Encouraged by the response, builders have started charting fresh strategies to increase the number of residential projects. Mr. Abhisheck Lodha, director, Lodha Group, said, "We have sold 4,500 units of residential apartments (around 50 lakh sqft) during the past seven months. During the third and fourth quarters, we hope to sell an additional 5,500 units. Prices, at present, are such that buyers find it attractive. People have buying power and the real buyer is coming to the market." Amid revival in the realty market, the demand for projects launched by major realtors has been much stronger compared to the peak witnessed in 2007. As per industry experts, 30% of the demand is for residential projects in the price bracket of Rs 5-15 lakh, 26% is between Rs 15 and Rs 25 lakh and 22% is in the range of Rs 25-40 lakh. Around 12% of the buyers go for apartments priced between Rs 35 and Rs 50 lakh, while a mere 6% are willing to pay over Rs 50 lakh.
13 Nov 2009 The Financial Express
Home Buyers Excited And Cautious At The Same Time
According to real estate consultants, the residential property market has firmed up in the last few weeks and consumer demand has picked up. But they are cautious - if builders start jacking up rates, there will be resistance. "The residential market, including the premium segment, has rebounded quicker than expected. We are seeing 2007-level prices again and a robust demand for houses in the $1 million range (under Rs 5 crore)," said Mr. Anuj Puri, chairman of Jones Lang LaSalle Meghraj (JLLM). However, a real estate source said that in the premium segment, buyers were not interested in properties priced over Rs 25,000 a sq ft.
11 Nov 2009 indianrealtynews.com
According to real estate consultants, the residential property market has firmed up in the last few weeks and consumer demand has picked up. But they are cautious - if builders start jacking up rates, there will be resistance. "The residential market, including the premium segment, has rebounded quicker than expected. We are seeing 2007-level prices again and a robust demand for houses in the $1 million range (under Rs 5 crore)," said Mr. Anuj Puri, chairman of Jones Lang LaSalle Meghraj (JLLM). However, a real estate source said that in the premium segment, buyers were not interested in properties priced over Rs 25,000 a sq ft.
11 Nov 2009 indianrealtynews.com
Jaypee Greens Launches India's First Sports City
Jaypee Greens has announced the launch of India's first Sports City on the Yamuna Expressway in Gautam Budh Nagar. Sports City is positioned for everyone who acknowledges luxurious surroundings and spaces equipped with sports and recreational facilities. The project will be self contained with every essential element of urban living in style and comfort. It will have Motor Race Track spread over more than 875 acres. Besides that, there will be state-of-the-art international standard sports stadiums for all major outdoor and indoor games, including an ICC standard cricket stadium with accommodating capacity of over a lakh spectators, along with exquisite hotels, restaurants and recreational facilities spread all over the sports zone. It will have various Residential Districts which would be developed by the company in phases. The first would be the Country Homes, with sizes varying from 200 to 4000 sq mts, which will be followed by Lake District with high, mid and lower end apartments.
10 Nov 2009 indianrealtynews.com
Jaypee Greens has announced the launch of India's first Sports City on the Yamuna Expressway in Gautam Budh Nagar. Sports City is positioned for everyone who acknowledges luxurious surroundings and spaces equipped with sports and recreational facilities. The project will be self contained with every essential element of urban living in style and comfort. It will have Motor Race Track spread over more than 875 acres. Besides that, there will be state-of-the-art international standard sports stadiums for all major outdoor and indoor games, including an ICC standard cricket stadium with accommodating capacity of over a lakh spectators, along with exquisite hotels, restaurants and recreational facilities spread all over the sports zone. It will have various Residential Districts which would be developed by the company in phases. The first would be the Country Homes, with sizes varying from 200 to 4000 sq mts, which will be followed by Lake District with high, mid and lower end apartments.
10 Nov 2009 indianrealtynews.com
Developers Attracted By Hi-Tech Townships
A wave of technological innovation seems to attract the real estate sector. These days, High-tech townships, which promise an advanced lifestyle for residents, are catching the attention of many developers. Developers such as Omaxe, the 3C Company and The Chadha Group are offering such technologically advanced townships. The Chadha Group will be developing Wave Hi-Tech city, a high-tech township in Ghaziabad, which is expected to come up in four years. This hi-tech township will have features such as a pollution-free transport system, high security, scientific disposal of solid waste and wi-fi connectivity throughout the city. While such townships score high on technological features and benefits to residents, some feel that their success will to a large extent depend on employment opportunities available in the vicinity as well as the public transportation system.
9 Nov 2009 indianrealtynews.com
A wave of technological innovation seems to attract the real estate sector. These days, High-tech townships, which promise an advanced lifestyle for residents, are catching the attention of many developers. Developers such as Omaxe, the 3C Company and The Chadha Group are offering such technologically advanced townships. The Chadha Group will be developing Wave Hi-Tech city, a high-tech township in Ghaziabad, which is expected to come up in four years. This hi-tech township will have features such as a pollution-free transport system, high security, scientific disposal of solid waste and wi-fi connectivity throughout the city. While such townships score high on technological features and benefits to residents, some feel that their success will to a large extent depend on employment opportunities available in the vicinity as well as the public transportation system.
9 Nov 2009 indianrealtynews.com
Residential Markets Of Chennai And Hyderabad Stabilise
According to international property consultants, Cushman & Wakefield Capital, values across major high-end and mid-end segment properties in Chennai and Hyderabad stabilised in the third quarter 2009. These two cities also saw cautious project launches along with a gradual shift to ensure delivery and promotion of previously launched projects to maintain its stable price trend.
9 Nov 2009 DNA
According to international property consultants, Cushman & Wakefield Capital, values across major high-end and mid-end segment properties in Chennai and Hyderabad stabilised in the third quarter 2009. These two cities also saw cautious project launches along with a gradual shift to ensure delivery and promotion of previously launched projects to maintain its stable price trend.
9 Nov 2009 DNA
Developers In Bangalore To Shift Focus On Middle, Upper Middle Segments
The real estate sector in Bangalore is slowly picking up after a year-long lull and is ready to focus on the middle and upper middle segments, where it envisages huge potential. Customizing their offerings, builders in the city are looking forward to capture these segments, which are witnessing increasing demand. Mantri Developers Pvt Ltd, "the recession for all practical purposes is over as far as the real estate sector in the city is concerned". The firm is looking at the upper middle class and high-end segments and sees a rise in demand in both, more so in the upper middle category. Mr. Shahwar Pasha, assistant general manager, business development, Prestige Group, said, "It is the end-user, the actual buyer who is ready to buy now." The Group, which was earlier targeting only the luxury market (Rs75 lakh-Rs6 crore) is now looking at the middle and upper middle segment as enquiries are for affordable homes.
11 Nov 2009 DNA
The real estate sector in Bangalore is slowly picking up after a year-long lull and is ready to focus on the middle and upper middle segments, where it envisages huge potential. Customizing their offerings, builders in the city are looking forward to capture these segments, which are witnessing increasing demand. Mantri Developers Pvt Ltd, "the recession for all practical purposes is over as far as the real estate sector in the city is concerned". The firm is looking at the upper middle class and high-end segments and sees a rise in demand in both, more so in the upper middle category. Mr. Shahwar Pasha, assistant general manager, business development, Prestige Group, said, "It is the end-user, the actual buyer who is ready to buy now." The Group, which was earlier targeting only the luxury market (Rs75 lakh-Rs6 crore) is now looking at the middle and upper middle segment as enquiries are for affordable homes.
11 Nov 2009 DNA
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