Delhi NCR - becoming a new realty investment destination

Investing in property and real estate has been become the most popular and important trend for the people, people feel more secured while investing in the real estate sector. Property or real-estate investing or dealing has also become a major source of making money for many people or businessman.

Delhi NCR being the capital proves to provide the investment place to the new developers Tata Housing, Chintals, Shobha Developers. The projects from new developers is providing buyers to pick the best one out for themselves.

In Gurgaon, new projects by Emaar MGF, Ireo, Bestech, Unitech, The 3C Company, Vatika, Vipul, Central Park, Shobha are all coming up with premium living housing projects. These developers are constructing luxury apartments, villas, independent bungalows and duplexes with the price ranging from Rs1.5- 7 crore.

Projects launched in Delhi NCR in the year 2012 were highest in number as compared to Mumbai, Bangalore and Chennai. Delhi NCR has in the last year  emerged as the most preferred location for investors and end users because of the  high rate of appreciation and ease of resale of property.

According to a report in The Economic Times,  "yearly price appreciation in the high-end property segment has come down by 35-50 percent since 2008-09 when investors used to book returns of 15-20 percent on an average. In the last two years, price rise in this segment has plateaued, with yearly returns of only 6-7 percent across the country."

The developers find a great scope of investments as the Delhi NCR is now well connected (Delhi , Noida, Gurgaon, Indirapuram, Vaishali). And coming of metro connectivity helps the reach to the defined destination in lesser time.

India has a progressively increasing economy and tourism. Delhi NCR, for example, boasts of striking places, which are certified attractions for those hunting for the vital vacation knowledge. As an investor however, you obviously desire to know how investing in Delhi NCR Real Estate is a valuable attempt.

As far as real estate development is concerned and property prices are rising YoY, therefore from developers point of view, they are definitely benefitting in the market (12% - 15%) compared of outside developers.

The real estate in Gurgaon is surging strongly. Its improving infrastructure, business environment, coupled with the growing income and changing lifestyle of the residents are the factors encouraging real estate developers to bring more and more frenetic developments in this fast flourishing cyber city."

source:- http://www.moneycontrol.com/news/real-estate/delhi-ncr-becomingnew-realty-investment-destination_813906.html

Investment In 3 BHK Flats In Noida- A Fruitful Option

This article is about how demand for property in Noida is increasing and why 3 BHK flats in Noida are a good investment option.


With housing space shrinking in Delhi-NCR, the two satellite cities of Noida and Gurgaon have emerged as real estate hotspots in recent years. These two cities are expanding and developing rapidly. With steady growth and development, the real estate industry in Noida and Gurgaon is also making rapid strides.


Investment is real estate has proved to be a safe bet for investors even in the wake of global financial crisis. With Noida emerging as a real estate hotspot, investors are coming forward to invest in property in this satellite city.


What makes Noida a real estate hotspot: Infrastructure and connectivity are determining factors when it comes to real estate investment. Noida is close to Delhi and well-connected with the rest of the country. Roadways connectivity in Noida is strong. The three expressways – DND Expressway, Yamuna Expressway and Noida-Greater Noida Expressway ­– have well-connected Noida with Delhi and other NCR regions. The Indira Gandhi International Airport in Delhi is also located close to Noida. All these factors have contributed to the increased demand for property in Noida. Moreover, Noida has a planned infrastructure, which is improving by the day.


Noida has also become a hub for international companies which outsource IT services. With job opportunities galore in Noida, professionals from other parts of the country have moved here in search of a good career. This has created the need for more and more residential living space. Thus, residential property is in much demand in this city, besides commercial property.


Keeping the rising property demand in mind, real estate developers are leaving no stone unturned to present home seekers with living spaces that have all the facilities to make life luxurious, comfortable and stylish.


Real estate developers are losing no time to launch residential housing projects. The residential flats in Noida which have been newly built have top class amenities. The demand for a flat in Noida in high is sector 18, sector 25, sector 32 and sector 61.


More and more townships, commercial establishments and shopping malls are going to come up in Noida, More infrastructural development is on the anvil. Many tourism and entertainment projects have also been taken up. These factors further make Noida an attractive real estate investment hub.


Price of Noida property is increasing. The appreciation in property prices in Noida is 30 per cent annually.  This is indeed the right time to invest in real estate projects in Noida.


When it comes to investing in residential property in Noida, investing in 3 BHK flats is an attractive option which promises good returns. Prices of 3BHK flats start from 90 lac- 1crore.


These apartments boast of splendid amenities like 24 hour water supply, power back-up, security, gym, swimming pool, RO water system, intercom facility, fire alarm, centrally air-conditioning, Feng Shui/ Vaastu compliant, parking facility, maintenance staff, rain water harvesting system, golf course and cafeteria.


Prices of 3 BHK flats in Noida are high and are expected to increase further. Indeed, 3 BHK flats present a fruitful investment opportunity in Noida.


source:- http://www.siliconindia.com/realestate/news/-Investment-In-3-BHK-Flats-In-Noida-A-Fruitful-Option-nid-151408.html

Policy for development of industrial colonies

The Haryana Government has issued a new policy regarding grant of licenses for development of industrial colonies, cyber parks and cyber cities.
While stating this here today, an official spokesman said for development of an industrial colony, the licence would be granted by the Director, Haryana Town and Country Planning, with prior internal concurrence of the state government at the level of the minister-in-charge.

 He said outside the urbanisable zone of published development plan, such colonies would also be permitted in the agriculture zone outside urbanisable zone. He said the de-notified Special Economic Zones (SEZs) in the state with land measuring 50 acres and above, situated anywhere in the controlled areas or urban areas, except those falling in the residential land use zone of the development plan, would also be eligible for licence of industrial colonies as a one-time relaxation in the designated land use conditions.
source:- http://www.realtyfact.com/policy-for-development-of-industrial-colonies/

JLL facilitates 25 acre land deal of Rs 100 crore in Bangalore

NEW DELHI: Property consultant Jones Lang Lasalle (JLL) India today said it has facilitated a 25-acres land deal in Bangalore being purchased by L&W Construction for Rs 100 crore.

“Jones Lang LaSalle has advised on the outright purchase of 25 acres prime land at Devanhalli, Bangalore by L&W Construction Pvt Ltd from a large Bangalore-based industrial group. The transaction value was Rs 100 crore,” the consultant said in a statement.

L&W Construction, a subsidiary of Singapore’s Lee Kim Tah Woh Hup Pte Ltd, has acquired this land to develop a high-end residential project.

“This is an extremely strategic acquisition for L&W Construction Pvt Ltd, and one of Bangalore’s largest land deals of 2013 to date,” JLL India Managing Director (Land Services) Mayank Saksena said in a statement.

L&W Construction commenced operations in Bangalore in 2006 to carry out businesses in project management and construction activities. It has also diversified to undertake property development through partnership.

In developing the project, L&W Construction will draw on the extensive expertise of Lee Kim Tah Woh Hup, which is an equal joint venture firm of Lee Kim Tah Holdings and Woh Hup (Pte), two of Singapore’s oldestconstruction companies.

“The Devanahalli sub-market is defined by an impressive scale of activity on premium and luxury projects. This is largely due to the ongoing and planned infrastructure developments in these areas, with the establishment of Bangalore International Airport being one of the primary catalysts for the North Bangalore micro-market,” JLL India said.

http://economictimes.indiatimes.com/markets/real-estate/news/jll-facilitates-25-acre-land-deal-of-rs-100-crore-in-bangalore/articleshow/20911111.cms

Godrej Properties inks JV with landowner Oasis Buildhome for housing project

DELHI: Real estate firm Godrej Properties today said it has entered into an agreement with Oasis Buildhome, which owns nearly 14 acre of land in Gurgaon, to develop a premium housing project.

This would be the fourth project of Godrej Properties, which is part of realty arm of Godrej Group, in the national capital region (NCR).

In a filing to the BSE, Godrej Properties informed that it has “entered into a development agreement with Oasis Buildhome Pvt Ltd to develop a 13.76 acre property situated on Northern Periphery Road (NPR) in Sector 88A/89A, Gurgaon”.

The project would be developed as a premium residential group housing project and is expected to offer 1.2 million sq ft of saleable area, it added.

Godrej Properties is currently developing two residential projects in Gurgaon and has recently added a new project in Okhla in the national capital where it plans to undertake a premium housing project. As with most Godrej Properties projects, this project is being done as a joint venture.

“We are happy to add this new project in Gurgaon to our development portfolio. NCR is an important growthmarket for us and this is the second new project we have entered in NCR in FY14,” Godrej Properties Managing Director & CEO Pirojsha Godrej said.

The project fits well with the company’s strategy of growing its presence in India’s leading real estatemarkets, he added.

Godrej Properties is currently developing residential, commercial and township projects spread across 87.6 million square feet in 12 cities.

http://economictimes.indiatimes.com/markets/real-estate/news/godrej-properties-inks-jv-with-landowner-oasis-buildhome-for-housing-project/articleshow/21620098.cms

IIM-A Gets a New Dean from Harvard

As a sign of change, Harvard professor Ashish Nanda will take over as director of IIM Ahmedabad. He is the first academician from an overseas institute to head any of the 13 IIMs.

Nanda, an IIM-A alumnus himself, is the Robert Braucher Professor of Practice at Harvard Law School. Rakesh Basant and G Raghuram, both part of the IIM-A faculty, were shortlisted too.

Nanda has been teaching at Harvard for 13 years. An electrical engineer from IIT Delhi, he earned a postgraduate diploma in management at IIM-A in 1983, followed by a Masters degree and a PhD in economics from Harvard. He started his academic career with Harvard in 2000 as an assistant professor. Another potential change is in the salary: An IIM director currently gets around Rs 20 lakh a year, while top jobs in Ivy League colleges pay between Rs 1.5 crore and Rs 3 crore.


Read more: http://forbesindia.com/article/checkin/iima-gets-a-new-dean-from-harvard/35951/1

Unitech group company UCP in talks with Blackstone, GIC to sell SEZ

NEW DELHI: Unitech Corporate Parks, a Unitech group firm listed in London, is negotiating with the private equity firm Blackstone and Singapore's sovereign wealth fund GIC to sell its IT special economic zone (SEZ) in Gurgaon for about Rs 2,700 crore.

Unitech Corporate Park (UCP), which is listed on the AIM of the London Stock Exchange, is developing an IT SEZ 'IST Infospace Gurgaon' with leasable area of 3.6 million sq ft.

UCP holds 60 per cent in this project, while realty firm Unitech has the remaining 40 per cent stake.

"Our most advanced development G2 (IST Infospace Gurgaon) has been marketed by Jones Lang LaSalle. We have received strong interest and following a first round of offers are now engaged in negotiations with the two leading parties," UCP said in a statement while declaring its annual result.

Sources said that the two leading parties are Blackstone and GIC and the deal could be finalised by end of next month.

A Unitech spokesperson declined to comment on the development.

Apart from these two firms, investment firm Xander group, Canada's pension fund CPPIB, Kotak Group and Maple Tree had also participated in the bidding process.

UCP raised about 360 million pounds by issuing and placing its Ordinary Shares on the AIM of the London Stock Exchange in December, 2006. It had invested in six commercial projects in India in partnership with Unitech, of which five are in the national capital region and one in Kolkata.

UCP has 60 per cent stake in these 6 properties while Unitech has 40 per cent. That apart, Unitech holds 12-13 per cent stake in UCP directly.

Unitech is expected to garner Rs 1,100-1,200 crore from this deal and the amount will be used to retire debt and fund construction of projects.

"Our most advanced project G2 is approaching physical completion and has been marketed to major international investors, and we are in detailed negotiation with two. We hope this will be the first and substantial realisation of value from UCP's development programme," UCP Chairman Donald Lake said.

UCP continued to make good progress in letting space in the second half of year to 31 March 2013. The total office area leased, or subject to binding pre-lease commitments, has increased from 6 million sq ft in March 2012 to 6.61 million sq ft till July, 2013.

UCP's NAV has increased by 11 per cent to £207.9 million (58 pence per share) at 31 March 2013 compared to £187.1 million (52 pence per share) at 31 March 2012.

source:- http://economictimes.indiatimes.com/markets/real-estate/news/unitech-group-company-ucp-in-talks-with-blackstone-gic-to-sell-sez/articleshow/21937787.cms

MCD waives penalty, interest to recover property tax dues

NEW DELHI: With MCD property tax worth crores of rupees due against various government and private organisations, the civic body has now offered immunity till November 30, waiving penalty and interest on payments under a new settlement scheme to benefit thousands of residents.

"The long-awaited scheme of settling property tax arrears with immunity of penalty and waiver of interest has started from August 19 and the scheme will continue till November 30 this year," chairman of the high-powered property tax committee, North Delhi Municipal Corporation, Rajesh Bhatia said.

He said property tax worth crores of rupees is due against various government and private organisations and the department is making efforts to collect it

The chairman said that necessary directions have been issued to all property tax offices for effective implementation of this scheme and advertisements have been published in all major newspapers to inform property owners about the same.

"This scheme will benefit four types of property owners - ex-parte assessment under old rateable value system; rateable value already determined on merit; unit area method and those whose cases are pending in courts and are willing to resolve them out of court," North Delhi corporation public relations officer Yogendra Singh Mann said.

Bhatia also informed that under this scheme, property tax will be accepted only through pay-order or demand draft. Besides, if any property owner feels that his case is being dragged deliberately or is being harassed, complaint can be made directly to him, he said.

He said "a property tax settlement scheme has been brought for the first time for Unit Area System cases after its implementation in 2004. Pending property tax under unit area system can also be disposed off under this new scheme".

Mann said the scheme has been started following a feedback from citizens.

"On the basis of the feedback received from citizens, it has been found out that property owners want to pay their property tax but are not satisfied with the assessment orders passed against their properties.

"Property owners also believe that much higher amount of tax is levied on their properties and hence they choose not to pay the property tax," Mann said.

source:- 

Property prices up by 15 per cent in Delhi-NCR: Report

NEW DELHI: Property prices have increased by an average 15 per cent in the Delhi-NCR during Apri-June quarter of this fiscal against the year-ago period, according to a report.

In Delhi-NCR, Gurgaon Sector-54 saw the highest appreciation in property prices of about 87 per cent during April-June 2013 over April-June 2012, the company said in a statement.

"Delhi-NCR region continues to witness an increase in property prices with 15 per cent year-on-year property appreciation seen in Q2-13 when compared to Q2-12," it said.

The appreciation is however lower than the previous quarter, which saw 20 per cent rise in property prices.

Housing rentals in the Delhi-NCR region have also gone up by an average of 5 per cent in April-June period of 2013 when compared to the same period a year ago.

The property prices and rental rates have been progressing in Delhi-NCR over the year with Gurgaon specifically keeping up with the momentum. Noida and Faridabad are also realising the benefit in price and rentals owing to increased connectivity with Delhi and affordable housing projects.

In Delhi, the portal said that Narela & Mahavir Enclave have emerged with strong price appreciation by 44 per cent and 39 per cent, respectively.

A few localities in South Delhi continue to see a price correction in property price.

Saket in particular has seen a dip of 14 per cent in this quarter from 6 per cent decline in last quarter, followed by Defence colony and C R Park also witnessing the decline by 9 per cent and 6 per cent, respectively.

source:- http://economictimes.indiatimes.com/markets/real-estate/news/property-prices-up-by-15-per-cent-in-delhi-ncr-report/articleshow/21919142.cms

Puravankara set to launch Rs 350 crore property in Bangalore

BANGALORE: Realty major Puravankara ProjectsBSE -4.01 % today said it is set to launch Rs 350 crore property 'Purva Skydale' near Sarjapur main road, a hub for Bangalore's IT industry.

Purva Skydale is spread across 4.26 acres, and entails 314 'Maravilloso' homes, Puravankara said in a statement.

2 BHK apartments are sized between 1341 to 1371 sqft and 3 BHK between 1700 to 1929 sqft. The property is priced between Rs 4491 to 4995 per square foot, it added.

City-based Puravankara, a BSE listed company has significant presence in Bangalore, Kochi, Chennai, Coimbatore, Hyderabad, Mysore and overseas in the United Arab Emirates, Kingdom of Saudi Arabia and Sri Lanka.

The company has successfully completed 41 residential and two commercial projects encompassing 16.52 million sq ft.

Currently, it said, it has 28.04 million sq ft of projects under development with an additional 81.57 million sq ft in projected development over the next 7-10 years.

source:- http://economictimes.indiatimes.com/markets/real-estate/news/puravankara-set-to-launch-rs-350-crore-property-in-bangalore/articleshow/21938058.cms