Indian real estate news

Smart City projects to be implemented on PPP mode
April 1, 2015

Smart City projects to be implemented on PPP mode01-April-2015 Urban Development Minister Venkaiah Naidu announced that smart city project will be executed on the basis of public-private partnership (PPP), after receiving the cabinet’s approval. Naidu mentioned this during his discussion with Sweden's Minister for Infrastructure Anna Johansson. He also highlighted the ‘Housing for All' initiative and elucidated the governmental measures of improving the public transportation system. The discussion was part of the MoU between India and Sweden for cooperation in sustainable urban development....

Dosti Realty’s Thane-based project to benefit mid segment home buyers
April 1, 2015

Dosti Realty’s Thane-based project to benefit mid segment home buyers01-April-2015 Leading Mumbai-based real estate developer Dosti Group has launched Planet North in Shil-Thane with a choice of 1BHK, 2BHK and 3BHK apartments. The project offers easy accessibility to Thane, Dombivli, Kalyan and Navi Mumbai. Recreational facilities include a 30,000 sq ft clubhouse, gym, indoor swimming pool and tennis court....

Press Release

Mangalya Group announces launch of Ophira Phase-II
April 1, 2015

Mangalya Group announces launch of Ophira Phase-II01-April-2015 One of NCR’s prominent real estate developers, Mangalya Group, launched phase-II of its residential project, Ophira. The project is situated in Sector-1, Greater Noida, at a distance of 13 km from Noida City Centre metro station. Ophira will feature all amenities imperative for holistic living, such as recreation facilities, joggers’ track and gym.

Primarc Group launches Astitva in North Kolkata
April 1, 2015

Primarc Group launches Astitva in North Kolkata01-April-2015 Kolkata-based Primarc Group announced the launch of its gold-rated green project, Astitva, in Kankurgachhi in North Kolkata. Astitva features 115 residential apartments spread across three blocks. The green initiative is evident in the use of water-efficient landscaping, energy-efficient HVAC system, waste water treatment and solar PV powered street lighting, among others....

Delhi government permits property registrations in unauthorised localities
March 31, 2015

Delhi government permits property registrations in unauthorised localities31-March-2015 In a move that brought immense relief to the residents of Delhi, Chief Minister Arvind Kejriwal announced that properties in unauthorised colonies, which has been regularised by the Centre, can now be registered. He has further ordered for the finalisation of boundaries of 1,650 unauthorised colonies (out of which 800 has been regularised)....

‘Smart Cities’ is the answer to challenges of rapid urbanization
March 31, 2015

‘Smart Cities’ is the answer to challenges of rapid urbanization31-March-2015 Rapid urbanization is leading to several challenges of environment protection and resource management. Air quality is steadily decreasing, water and electricity shortage is becoming rampant, traffic clogging happens more frequently and industrial waste disposal is increasingly becoming a matter of concern. All this can be controlled through construction of smart cities, believes Hamza Achour, Marketing, Alliances & Sales Operations Manager, Smartworld....

Press Release

Colliers International India has a new Deputy Managing Director
March 31, 2015

Colliers International India has a new Deputy Managing Director31-March-2015 Realty professional firm Colliers International India announced the appointment of Saacketh Chawla as the Deputy Managing Director. Chawla has been a part of the organization since 2008 as the National Director, Project Management. He has showcased stellar performance by taking the segment to unthinkable heights. Chawla will now hold dual position of the Deputy MD and National Director. 

Press Release

Wave Infratech wins the right to name two metro stations in Noida
March 31, 2015

Wave Infratech wins the right to name two metro stations in Noida31-March-2015 Adding yet another feather to its cap, Wave Infratech wins the naming and marketing rights for Noida Sector 18 and Noida City Centre metro stations. The company also bagged exclusive rights to modify the colour scheme of the stations in conformity with the DMRC guidelines.

Press Release

Godrej Group to develop its second residential project in Bangalore
March 31, 2015

Godrej Group to develop its second residential project in Bangalore31-March-2015 Godrej Properties has announced entering a deal to develop a residential project in Whitefield, Bangalore. The project will have approximately 0.85 million sq ft of saleable area. The plot is strategically situated in proximity to the Export Promotion Industrial Park (EPIP) Zone and International Tech Business Parks. This project will be developed under a profit sharing model.

Sunil Mittal’s Bharti Realty forays into residential space with high-end smart project
March 31, 2015

Sunil Mittal’s Bharti Realty forays into residential space with high-end smart project31-March-2015 Commercial real estate firm, Bharti Realty is all set to develop luxury smart homes in Surajkund, Faridabad. To this end, the Sunil Mittal enterprise will plug in Rs 2,500 crore in what will become the group’s first residential real estate project. The 50-acre project will feature energy-efficient houses in which all electronic equipment and security facilities will be managed via technology....

Robert Vadra accuses BJP-led Haryana govt for tampering with auditor’s report
March 31, 2015

Robert Vadra accuses BJP-led Haryana govt for tampering with auditor’s report31-March-2015 Realty entrepreneur and Sonia Gandhi's son-in-law Robert Vadra has accused the Haryana government for manipulating the principal accountant general (PAG) report. Vadra’s lawyers reiterated that he had not received any “undue favors” from the Congress government. They further alleged that the state government chose to remain silent on the issue and “refused to reply to multiple notices/letters written by PAG purely for politically motivated reasons"....

Piramal Fund Management to finance luxury residential project in Mumbai
March 31, 2015

Piramal Fund Management to finance luxury residential project in Mumbai31-March-2015 A unit of Piramal Enterprises Ltd, Piramal Fund Management (PFM), announced sanctioning Rs 1,200 crore for a high-end residential project by Omkar Realtors in Mumbai. Of the total amount, Rs 400 crore will go into refinancing existing lenders and the remaining Rs 800 crore will be spaced out over a period of two years as the construction work progresses....

Buyer Alert: Exercise caution when purchasing property online
March 30, 2015

Buyer Alert: Exercise caution when purchasing property online30-March-2015 While online home sales have gained a momentum in tier-2 and tier-3 cities, jumping from 11 per cent in Dec-Jan 2013 to 30 per cent in Jan-Oct 2014, it is imperative for buyers to be cautious when buying property online. Several projects in the NCR are stuck due to the green tribunal’s ruling. “For all you know, these projects might be in no man's land," warned Pankaj Kapoor, Managing Director, Liases Foras, India....

Urban development ministry urges states to launch single window system for building permission
March 30, 2015

Urban development ministry urges states to launch single window system for building permission30-March-2015 The ministry of urban development has asked the state governments to introduce single window system for issuing building permissions in a bid to simplify processes. The ministry has even suggested that states should direct municipal corporations to launch online portals for issuance of permissions. “This is a matter of deep concern especially when we are encouraging large scale investments in real estate sector,” commented the Ministry....

Unsold inventory touches 60 per cent in Delhi-NCR; realtors bank on freebies
March 30, 2015

Unsold inventory touches 60 per cent in Delhi-NCR; realtors bank on freebies 30-March-2015 With unsold inventory ranging from 55-60 per cent, realtors in the National Capital Region (NCR) offered freebies during the Navratra season to boost sales. The freebies included buy-back policies, new payment schemes involving EMI-free deal till possession and assured returns. In Delhi-NCR, buyers generally prefer buying properties during auspicious occasions and Navratras are one of them....  

Bangalore magnetises 50 per cent of office space sale in the country
March 30, 2015

Bangalore magnetises 50 per cent of office space sale in the country30-March-2015 A report by Colliers International stated that Bangalore “accounted for 49 per cent of the country's office space absorption in 2014". The Silicon Valley of India is also the most stable property market in the country. While other major metros are looking for ways and means to offload their unsold inventory, Bangalore is drawing 1/10th of residential property sale from home buyers in Delhi-NCR, Mumbai and Kolkata....

Gurgaon Governance Conclave bridges gap between builder and buyer
March 30, 2015

Gurgaon Governance Conclave bridges gap between builder and buyer30-March-2015 Gurgaon, also known as the Millennium City, has seen immense discord between developers and buyers. To bridge the ever-increasing gap between the two Real Estate Development Council (REDCO) of Haryana organised 'Global Gurgaon Governance Conclave'. The meeting focused primarily on Gurgaon’s plotted areas, at the same time, planning the development of New Gurgaon. The conclave was attended by deputy commissioner T L Satyaprakash and leading private developers....

Global investment in Indian real estate increases by 140 per cent
March 30, 2015

Global investment in Indian real estate increases by 140 per cent30-March-2015 Overseas investment in Indian real estate industry witnessed a massive jump of 140 per cent to reach $5 billion in 2014, stated a Cushman & Wakefield research. The report also mentioned that India was among the top three nations in the world, following Serbia (which saw a whopping 610 per cent rise in investment) and Bulgaria (186.5 per cent)....