143,311+ Members
   Get Started   Latest Posts Search Today's Posts Mark Forums Read
IREF® Real Estate in India - Property Discussion
IREF® - Indian Real Estate Forum > Real Estate Open House > General Real Estate Discussion > Indian Real Estate News
Like Tree56Likes

Reply
 
LinkBack Thread Tools Search this Thread
Old September 28 2012, 11:48 AM   #3471
Veteran Member
 
Join Date: May 2011
Posts: 1,067
Likes Received: 71
Likes Given: 46
My Mood: Cool
Default Residential market demand rises in affordable segment; tanks at high-end

 
Old September 28 2012, 11:55 AM   #3472
Veteran Member
 
Join Date: May 2011
Posts: 1,067
Likes Received: 71
Likes Given: 46
My Mood: Cool
Default Urban housing shortage pegged at 18.87 million

Our Bureau
Rising incomes, loans help bring down numbers from 11th Plan period
Mumbai, Sept 24:
A technical group set up by the Housing Ministry to estimate the urban housing shortage at the start of the 12th Plan Year has pegged the number at 18.87 million. It was 24.7 million at the beginning of the 11th Plan.
Bank funding, rise in per capita income and programmes of the Centre and States have been credited for the decline in the numbers.
The committee, under the chairmanship of Amitabh Kundu, Professor of Economics, JNU, submitted its final report to the Ministry last Saturday.
The report categorised the shortage as households living in non-serviceable katcha homes at 0.99 million, those in obsolescent houses at 2.27 million, people living in congested homes requiring new houses at 14.99 million, and those in homeless condition at 0.53 million.
The report said that the maximum shortage exists for the economically weaker section/lower income group whose need was unable to get translated into demand due to affordability issues.
The report recognised that eliminating housing shortage in the 12{+t}{+h} Plan, over and above maintaining the current rate of construction, would be a challenging task, even with the total involvement and cooperation of the private sector.
Alternative Strategy

Therefore, the committee suggested alternative and complementary strategies such as housing to be made a part of the infrastructure sector or be declared an industry. This is to boost construction activity , it said.
Second, the committee wanted to bring in vacant houses into the housing market through taxation and policy incentives.
For households with congestion, it said they must be enabled to create extra space or build extra rooms through support from public agencies.
The committee also recommended shifting to new units people living in houses built more than 80 years ago.
The report also noted the rapid increase in vacant houses, fierce competition among private builders and aggressive advertisements to woo prospective buyers. Almost all buyers of new housing stock already live in acceptable dwelling units and either plan to shift from rented to self-owned houses or are only attempting to improve their living conditions by going to a bigger house.
shanker.s@thehindu.co.in
Source:Business Line : News / Real Estate : Urban housing shortage pegged at 18.87 million
 
Old September 29 2012, 07:06 AM   #3473
Ex-Moderator
 
fritolay_ps's Avatar
 
Join Date: Mar 2010
Location: Singapore
Posts: 12,721
Likes Received: 1682
Likes Given: 763
My Mood: Amused
Default

THAT’S A PRETTY HEFTY PENALTY


Noida residents with unregistered properties have been crying foul over huge fines imposed on them by the Authority, says

Can registering an apartment cost three times more than its purchase price? Strangely enough, the answer is yes for the 3500plus flat-owners living in cooperative and welfare housing societies in Noida who have yet to get their properties registered. They have been directed by the Noida Authority to pay up for homes they had bought in the ’80s to 2000 and not registered. The amount as penalty, calculated on the basis of the current circle rates, is in most cases almost three times that of the properties bought at much lower prices.

B S Sandhu, who was allotted his 180 square metre flat in 1982 for R2.5 lakh, has been asked to pay R3 lakh as penalty and R4.5 lakh as stamp duty for registration, which adds up to a whopping R7.5 lakh. Payment immediately after purchase at 5% of the cost of the flat would have come to just R12,500.

People who have been affected object to the Noida Authority’s decision to charge penalty from 1995 (see box) and calculation of the stamp duty on the basis of prevailing circle rates. They argue that the issue of registration of flats was under litigation first in the Allahabad High Court and then in the Supreme Court from 2000 to 2010 and during this period the Authority was not ready to sign the tripartite deed for registration (with Noida Authority as first party, housing society as second and the flat owner as third party).

Those who had not got their properties registered had been granted six months from July 27, 2011 to January 25, 2012, by the Supreme Court to execute the tripartite deed. No penalty would have been charged for this period. “We clarify that if the tripartite deed is not executed within the period of six months, the law or instructions would take their own course and Noida would be entitled to levy such charge as it was entitled to,” the Supreme Court order had stated.


“The court hasn’t said that penalty would be charged from 1995. The Noida Authority is implementing the order in an arbitrary manner. When I had approached it several times between 2000 and 2010 to sign a tripartite deed, why did the Noida Authority refuse, saying that the issue was in court?,” asks Col (retd) Kesar Singh Sanghera, a 61-year-old resident of Sector 34.

Members of various RWAs also say they would prefer it if penalty is charged after January 25, 2012. Where’s the certificate? There’s another reason for the anger of more than 1000 flat owners of various some co-operative societies in Sector 62 . They blame Noida for not delivering the completion certificates and having an ‘ambiguous stand’ on the resale of apartments.

According to SM Singh, president, Sector 62 RWA, “There are co-operative group housing societies which have been waiting for completion certificates since 2000 and the Authority has been indifferent to their demands. In the absence of that, no tripartite deed can be executed. Now if they give the completion certificate today, why should the flat owners pay the penalty from 2000?”

Residents who bought flats in the secondary market say that they have written several times to the Authority to clarify its stand on resale of flats to enable them to execute the tripartite deed. “We didn’t hear anything from them. Now they are asking for penalty,” complaints SM Singh.




HT
 
Old September 29 2012, 07:07 AM   #3474
Ex-Moderator
 
fritolay_ps's Avatar
 
Join Date: Mar 2010
Location: Singapore
Posts: 12,721
Likes Received: 1682
Likes Given: 763
My Mood: Amused
Default

NCR RESIDENTIAL REALTY ON TOP

The NCR is one of the most stable,and the largest,residential markets in the country.A K TIWARY writes


The NCRs residential market remains one of the most stable markets in India,despite being in the news for all the wrong reasons be it a threat of an oversupply situation,the huge project delays,lack of affordable housing or the ugly land acquisition issues.
It is also the largest residential market in the country by sheer volume of residential units launched.Currently,it has higher number of units at the launch,construction or delivery stage than all the other five metropolitan cities of Mumbai,Chennai,Bangalore,Kolkata and Hyderabad put together.
Some of the reasons for this are good connectivity,planned infrastructure and availability of skilled manpower,which have become a pull factor not only for international but also domestic companies.
The development authorities have also played an important role by taking up new infrastructure projects that have led to tremendous development.Primarily,it is the IT and ITeS,manufacturing, units and Banking,Financial Services and Insurance (BFSI) industries,which have been driving the demand for office space in the region and have pushed residential demand to a great extent.
Gurgaons residential development is taking place in
particular pockets.A major chunk of residential supply lies on the Northern Peripheral Road (NPR),a stretch on the Dwarka Expressway.This area is known as New Gurgaon with residential land use governed by the Gurgaon Master Plan 2021.
The expressway is in close proximity to the commercial and industrial areas of Manesar.Most of the projects in this location are multistorey buildings and fall in the midsegment category.Along with the NPR,some other locations in Gurgaon that have seen major residential supply are the Golf Course Extension and the Gurgaon-Sohna Road.
Due to the limited availability of large land parcels in Noida,group-housing developments have been restricted to newer locations in Sectors 44,50,51,52,62,74,77 and the residential sectors like 93,94,137,143,150 and 168 on the Noida-Greater Noida Expressway.
Greater Noida West,earlier known as Noida Extension,has also emerged as another important residential market,with a number of residential projects coming up in Sectors 1,16B,16C,Tech Zone 4,Zeta I and the Yamuna Expressway.
In Faridabad,locations like Old Faridabad Road and residential sectors on the NH-2 and the Surajkund Road have seen a good residential supply in the last few years.However,newer locations like Neharpar and Sectors 70-89 have also seen a number of project launches,ranging from affordable to high-end residential units.
Ghaziabad,which is one of the big industrial towns in the region,has seen bulk residential supply in Indirapuram,Sahibabad,Vaishali,Vasundhara,Raj Nagar Extension and the NH-24 (Crossings Republik).Most of the projects in these locations are affordable and mid-segment.

Market picks up


Despite the global economic slowdown,the NCR did not see a steep fall in project launches last year.
Ghaziabad has contributed to nearly 34% of the number of project launches in the financial year 2012,followed by Gurgaon and Noida.Nearly 86,000 residential units have entered the market in the financial year 2012.
Pc0571000
QUICK BITES


SOME OF THE REASONS FOR THIS ARE GOOD CONNECTIVITY,PLANNED INFRASTRUCTURE AND AVAILABILITY OF SKILLED MANPOWER,WHICH HAVE BECOME A PULL FACTOR NOT ONLY FOR INTERNATIONAL BUT ALSO DOMESTIC COMPANIES

Pc0570800

TOI
 
Old September 29 2012, 09:08 AM   #3475
Ex-Moderator
 
fritolay_ps's Avatar
 
Join Date: Mar 2010
Location: Singapore
Posts: 12,721
Likes Received: 1682
Likes Given: 763
My Mood: Amused
Default

नाइट सफारी पर प्रेजेंटेंशन अगले हफ्ते

ग्रेटर नोएडा
यमुना एक्सप्रेस-वे के किनारे 260 एकड़ एरिया में बनने वाली नाइट सफारी प्रोजेक्ट पर अगले हफ्ते लखनऊ में प्रेजेंटेंशन होगा। इसमें ग्रेटर नोएडा अथॉरिटी के प्लानिंग और प्रोजेक्ट डिपार्टमेंट से जुडे़ अधिकारी भी शामिल हांेगे। प्रेजंेटेंशन की तैयारी को लेकर ग्रेटर नोएडा अथॉरिटी में शुक्रवार को अहम मीटिंग हुई। एसीईओ हरीश वर्मा ने बताया कि शासन के निर्देश पर नाइट सफारी प्रोजेक्ट का काम तेज हो गया है। बता दें कि मुर्शदपुर गांव के पास 260 हेक्टेयर में नाइस सफारी बनाई जाएगी। अथॉरिटी ने इसके लिए जमीन रिजर्व कर दी है। इसे पीपीपी मॉडल पर बनाया जाना है। बर्नाड हैरीसन को प्रोजेक्ट कंसलटेंट नियुक्त किया गया है। कंसलटेंट तय हो जाने के बाद शासन ने पहल शुरू कर दी है।




Navbharat times
 
Old September 29 2012, 11:05 PM   #3476
 
 
MANOJa's Avatar
 
Join Date: Jul 2010
Posts: 39,312
Likes Received: 3844
Likes Given: 1191
My Mood: Sick
Default CBRE voted top realty advisor

CBRE Group, Inc. has been named as the top global real estate advisor and consultancy firm in the 2012 Euromoney Real Estate Awards. This is the fifth time in eight years that CBRE has won the prestigious award.

Euromoney, a leading international finance publication, annually surveys its readers-corporate and financial-decision makers in more than 160 countries-to identify the best advisors, developers and banks in the real estate market on a global, regional and individual country basis.

After being declared the Top Global Real Estate Advisor 2012, and Top Real Estate Advisor for India 2012, Anshuman Magazine, CMD, CBRE, South Asia Pvt. Ltd., said, “Receiving this award globally for a record fifth time clearly demonstrates the faith our clients repose in us across the world. The fact that our clients have voted us as the top real estate advisor in India as well is a great validation of our ability to successfully deliver results, and provide the cutting edge advise and service they expect from us as the market leaders.”

In addition to winning the overall Global Real Estate Advisor and Consultancy award, CBRE won global awards in the Valuation, Agency/Leasing and Research categories. The firm was also voted number-one advisor and consultancy firm in North America, Western Europe, Central and Eastern Europe, as well as in 18 individual countries. Overall, CBRE won 65 individual awards.








-TNS
__________________
ModpicPlease Read IREF Rules FAQ's
 
Old September 30 2012, 09:16 AM   #3477
 
 
MANOJa's Avatar
 
Join Date: Jul 2010
Posts: 39,312
Likes Received: 3844
Likes Given: 1191
My Mood: Sick
Default Greater Noida-Ghaziabad link to be ready soon

GREATER NOIDA: Work on completing the 22km link road between Greater Noida's Zeta sector and NH24 is likely to start next week as Greater Noida Authority (GNA) and Ghaziabad Development Authority (GDA) claim to have cleared the remaining encroachments on the way. A 1.5km portion of the alignment has been pending for almost nine years now due to various reasons.

GDA on Friday said it would relocate the 50-odd farmer families who have their residential plots on the road alignment to land provided by GNA in Chipiyana village, Greater Noida, in the next 10 days. GNA had allotted 7.71 acres to GDA in July for rehabilitating the affected families.

The 130m wide signal-free road, when completed, will cut down travel time between Greater Noida and Ghaziabad to just 20 minutes. The road begins at the New Holland factory in Greater Noida and meets NH24 at the Vijay Nagar bypass in Ghaziabad. It will be extended later to the Meerut highway.

GNA CEO Rama Raman told TOI that most of the 22km road is ready. However, work could not start on the 1.5km stretch as the abadi land of Bahrampur Akbarpur and Chak Birampur villages lay on it. While GNA managed to settle the issue with the villagers, GDA did not have land to relocate them.





Greater Noida-Ghaziabad link to be ready soon - The Times of India
 
Old October 2 2012, 09:15 AM   #3478
 
 
MANOJa's Avatar
 
Join Date: Jul 2010
Posts: 39,312
Likes Received: 3844
Likes Given: 1191
My Mood: Sick
Default Uttar Pradesh-National Capital Region back to dark ages

NOIDA: After getting a brief respite from outages during the monsoon months, residents of Noida, Greater Noida and Ghaziabad have been reeling under a massive power crisis for the last three days. Those living in cooperative group housing societies and highrises in the three cities have been left completely dependent on alternate sources of power, mostly through diesel-run generator sets. However, running up huge bills at the end of the month by availing each unit of power at higher rates from their backup systems stares them in the face yet again.

The distribution utilities of Noida and Ghaziabad said that an emergency power rostering system has been put in place since the last three days as per directions from Lucknow. The rostering system, according to discoms, has been put in place to tackle a fall in supply due to less power generation at the Anpara thermal power station. The Greater Noida discom said that an application made to Uttar Pradesh Power Corporation Limited (UPPCL) for a meagre 30MW of additional electricity has not been granted.

However, officials at the Anpara power station maintained that the plant is fully functional with an average generation of around 97% of its full capacity. Sources at the Uttar Pradesh Vidyut Utpadan Nigam Limited (UPVUNL), and also at UPPCL, said that a severe cash crunch has resulted in an unprecedented power crisis all across the state.

"Lack of funds with the power corporation has left it high and dry. Though power can be purchased from multiple sources under the open-access regime, the corporation is unable to do so due to lack of revenue," said an UPPCL official.

The All India Power Engineers' Federation (AIPEF) has blamed the UPPCL for adhering to a wrong energy policy and mismanagement of its financial resources which has pushed banks and financial institutions to stop lending to the corporation. According to the federation, UPPCL procures around 2,500MW of power from the state-run power generators and around 1,500MW from private power generation companies in UP. Around 4,000MW power is bought from the central government while an additional 1,500MW is purchased from various trading companies.

"Over the past several years, the corporation has resorted to excessive power purchase from private companies at exorbitant rates," said Shailendra Dubey, secretary-general of AIPEF. "If the state had begun operating more public sector power generation companies with the same money, the financial crisis could have been averted," added Dubey.

Residents dependent upon invertors and personal generators have also resorted to scant use of electrical devices, including TVs and computers. Students and businessmen have suffered too due to intermittent outages continuing through the day severely affecting their daily routines.

"In this season, when there is no extra consumption of electricity through the use of ACs and coolers, we are facing rampant power cuts unlike the summer months when load is high," said Sanjay Gupta, a resident of Sector 41 of Noida. "Officials have failed to give us satisfactory explanation as to why there are so many outages when consumption is low," he added.










Uttar Pradesh-National Capital Region back to dark ages - The Times of India
 
Old October 2 2012, 07:17 PM   #3479
 
 
MANOJa's Avatar
 
Join Date: Jul 2010
Posts: 39,312
Likes Received: 3844
Likes Given: 1191
My Mood: Sick
Default Vijay Mallya raises Rs 525 crore against Bangalore Kingfisher Towers

BANGALORE: Its official now. Vijay Mallya, chairman of the cash-strapped Kingfisher Airlines, has turned to his ancestral property Kingfisher Towers-Residences at UB City, situated in the heart of Bangalore, to raise Rs 525 crore.

In an August 27 filing to the stock exchanges, titled 'audited financial report for March 31,2012', United Breweries Holdings (UBHL), the investment arm of the UB Group and to which Mallya's ancestral property is attached, stated that "the company has borrowed Rs 525 crore against this property development, and sale proceeds of completed units would be part utilized to repay such loan".

However, the company did not state from whom and when it raised the money.

Sources close to the development confirmed to TOI that the money has been raised from HDFC, which already has an exposure to Mallya's 1.1-million sq ft mixed-use commercial development UB City, located adjacent to his ancestral home. HDFC's exposure is by way of a rental monetization package, from which Mallya raised Rs 100 to Rs 125 crore. UB City is also attached to UBHL's real estate assets.

When contacted, a UB group spokesperson said, "The UB Group has had long standing relationships with HDFC, and the entire erstwhile brewery land has historically been lying with HDFC. UB Holdings has availed facilities for its general purposes against this security. Individual end uses cannot be identified."

In October last year, TOI had first reported that Mallya might turn to his ancestral property to raise around Rs 600 crore.

Further, UBHL's annual report for the year 2011-12 states that the company sold commercial space measuring 43,822.61 sq ft of saleable super built-up commercial area in UB City. However, the exact amount of funds raised by this transaction were not mentioned.

Kingfisher Towers-Residences at UB City is a 55:45 joint venture between Mallya and Bangalore-based realty major Prestige Group. According to the filing by UBHL, the company owns 4.18 lakh sq ft of super built-up area in the project.

In April this year, Kingfisher Towers recorded the highest residential capital value in the city after an apartment in the upcoming luxury project sold for Rs 33,000 per sq ft. At that price point, Mallya's share of Kingfisher Towers is valued at close to Rs 1,500 crore.

TOI was unable to ascertain whether Mallya's fund-raising exercise from Kingfisher Towers was done to help his ailing airline business. However, at the Kingfisher Airline's AGM held last week in Bangalore, Mallya informed shareholders that the promoters have infused Rs 1,154 crore into the airline since April 2012.









Vijay Mallya raises Rs 525 crore against Bangalore Kingfisher Towers - The Economic Times
 
Old October 2 2012, 07:18 PM   #3480
 
 
MANOJa's Avatar
 
Join Date: Jul 2010
Posts: 39,312
Likes Received: 3844
Likes Given: 1191
My Mood: Sick
Default Everstone ties up with Jones Lang LaSalle India for retail asset management

Everstone has tied-up with Jones Lang LaSalle India for providing retail property management services to four shopping malls at Pune, Kochi, Vadodara and Ahmedabad.

Under this arrangement, Jones Lang LaSalle India will provide end-to-end services - from ensuring optimal year-round occupancy to creating and maintaining a superior retailer and customer experience. The mandate marks the introduction on Jones Lang LaSalle's globally proven Retail Asset Management services module in India

"We are ramping up our business in the real estate domain. Jones Lang LaSalle India will bring in global best practices which should enhance retailer and customer experience and ensure strong mall occupancies," says Dhanpal Jhaveri, Partner and CEO - Everstone Capital Advisors.

"This tie-up is a benchmark on the real estate market, as it is the first time that a private equity fund has entrusted its entire shopping centre management portfolio to a real estate consulting firm in India," says Anuj Puri, Chairman & Country Head, Jones Lang LaSalle India. "Our Retail Asset Management services platform is a tried and tested vertical globally. It has been specially designed to ensure optimal year-round occupancy and seamless operations - thereby vastly enhancing the overall mall business proposition."

The tie-up for retail property management services will commence from October 1, 2012. Under this unique arrangement, the firm will provide complete leasing services as well as take responsibility for operations, customer experience, marketing, property and financial management, for the following shopping malls having total gross leasable area of 1.91 million sq. ft.





Everstone ties up with Jones Lang LaSalle India for retail asset management - The Economic Times
 
Reply
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Join IREF Now!    
Related Threads
Best way to buy property in Indian Real Estate?
Indian real estate goes global!!!
Indian real estate
Indian real estate goes global


Tags
estate, news, property, real, update
"..", ".."India