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Builders & Real Estate Bulls Theory Proved Wrong

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Builders & Real Estate Bulls Theory Proved Wrong

Last updated: November 1 2016
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  • Re : Builders & Real Estate Bulls Theory Proved Wrong

    charge on real estate developers to give road connectivity to new properties

    heard this news that the government has decided to impose a charge on real estate developers to give road connectivity to new properties.

    "The Road Transport and Highways Ministry, which is responsible for building roads, has held a series of meeting with real estate developers and officials from other ministries and has decided to recover Rs 250 per square meter of road that is built to connect the property."


    http://in.biz.yahoo.com/100513/50/bavl8b.html

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    • Re : Builders & Real Estate Bulls Theory Proved Wrong

      http://indiatoday.intoday.in/site/St...man+Point.html


      http://www.businessweek.com/news/201...-update2-.html

      Nariman Point is from 500 psf rental to .... 200 ...

      See how big companies cut cost .... they have left the iconic Nariman Point address to settle for less....

      Hope they not to leave Mumbai ..
      Last edited by frugality; May 16 2010, 08:44 PM.

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      • Re : Builders & Real Estate Bulls Theory Proved Wrong

        Originally posted by ziblu View Post
        heard this news that the government has decided to impose a charge on real estate developers to give road connectivity to new properties.

        "The Road Transport and Highways Ministry, which is responsible for building roads, has held a series of meeting with real estate developers and officials from other ministries and has decided to recover Rs 250 per square meter of road that is built to connect the property."


        http://in.biz.yahoo.com/100513/50/bavl8b.html
        Personally, I welcome this move. This will have 2 benefits:-
        1. Builder will buy land at a place which is feasible for the road to be constructed in terms of cost, distance & land acquisition &
        2. The builders won't be able to say that it is now the responsibility of govt to build roads & not us. Hence, for buyers, it is good move as they can now verify whether the builder has paid such amount to the govt or not based on which the buyer can take the call to buy or not to buy.
        I think, that the govt should also impose tax/levy for water pipelines. This will make the govt earn money as well eliminate the tanker mafia as well. The buyer has to pay either for pipeline or tanker, but in long run, it is better to pay for water pipeline rather than tanker.

        Originally posted by frugality View Post
        http://indiatoday.intoday.in/site/St...man+Point.html


        http://www.businessweek.com/news/201...-update2-.html

        Nariman Point is from 500 psf rental to .... 200 ...

        See how big companies cut cost .... they have left the iconic Nariman Point address to settle for less....

        Hope they not to leave Mumbai ..
        Yep, man. Reliance was the first one to shift out from South Mumbai to Nerul. The fact is companies think from head about money, but many buyers think from heart. Atleast they should know that commercial markets shows the economic fundamentals & not the residential ones.

        Even in Pune, large commercial spaces are lying vacant at prime locations/CBDs. When buyers start thinking like companies, see how builders are brought to knees.
        If you are happy, you are successful.

        Comment


        • Re : Builders & Real Estate Bulls Theory Proved Wrong

          Just some economic facts
          1. China has raised suspicion about Greece & overall EU economic revival,
          2. SBI profit has dipped 32%,
          3. DLF profit fell by 61%,
          4. Spain & Portugal may soon declare bankruptcy,
          5. US may again be hit as many cos have billions invested in these EU countries,
          6. India's inflation remains high & bankers have said that RBI will increase the interest rates soon,
          7. The tax code 2011 has been modified & what the people earning above 10L were thinking will be hit as they will now be taxed 30%. So, less savings, no further rise in purchase power due to this move by the fin min.
          If you are happy, you are successful.

          Comment


          • Re : Builders & Real Estate Bulls Theory Proved Wrong

            Originally posted by realacres View Post
            Hello Jitu,

            I would like to know how many sanctions are required before starting the project & which are the major ones. It would be helpful for us to know what builders go through before launching the project.
            Dear realacres,
            As per my understanding if title is clear and NA charges has been paid then builder needs to submit layout of the project which shows current & proposed buildings showing the amenity space. Once layout is sanctioned he proceeds for building permission which is received as Commencement Certificate. Once CC is obtained the builder can start the work and complete till 1st slab whereby he needs to carry out plinth checking for verifying duct sizes, front margin etc. Once plinth checking is done the work progress and finally the builders applies for Occupany Certificate by sumitting all relevant NOCs.
            The above procedure gives a brief idea of the sanctioning process and may involve any relevant sanctions as per the case.
            Jitendra Pethkar | Pethkar Projects

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            • Re : Builders & Real Estate Bulls Theory Proved Wrong

              Originally posted by Jitu_Sir View Post
              Dear realacres,
              As per my understanding if title is clear and NA charges has been paid then builder needs to submit layout of the project which shows current & proposed buildings showing the amenity space. Once layout is sanctioned he proceeds for building permission which is received as Commencement Certificate. Once CC is obtained the builder can start the work and complete till 1st slab whereby he needs to carry out plinth checking for verifying duct sizes, front margin etc. Once plinth checking is done the work progress and finally the builders applies for Occupany Certificate by sumitting all relevant NOCs.
              The above procedure gives a brief idea of the sanctioning process and may involve any relevant sanctions as per the case.
              Thanks Jitu for this info. So is this all, or you require permission from environment dept as well? What about road & water? Doesn't the PMC look into this aspect?
              If you are happy, you are successful.

              Comment


              • Re : Builders & Real Estate Bulls Theory Proved Wrong

                Over supply hits city hospitality industry

                Friends,

                The following one reads how many hotels are being canceled in Pune, including major ones like Leela, Oberoi, Marriot etc. All in all, 1500-2000 rooms have been canceled.

                According to confirmed reports available with the PHA and EAAP, some of the leading projects which have been called off include Leela's at Vishrantwadi, Oberoi on Nagar Road, Marriot on Airport Road , Lemon Tree near Pune Railway Station, Park Hotel at Wakdewadi and Coronot at Kalyani Nagar. Besides, several projects like Hilton at Vimannagar and those planned near Inox and Talegaon have either been indefinitely delayed or are being redesigned as residential properties.

                Read it here:-

                http://news.indiainfo.com/c-83-143717-1243842.html
                If you are happy, you are successful.

                Comment


                • Re : Builders & Real Estate Bulls Theory Proved Wrong

                  Originally posted by realacres View Post
                  Thanks Jitu for this info. So is this all, or you require permission from environment dept as well? What about road & water? Doesn't the PMC look into this aspect?
                  Dear realacres,
                  I think there is no permissions required from environment dept though 1 NOC is required from garden department while getting completion. Space for roads is to be shown in layout while verified while building permission. As regards water permission then it is obtained only after completion.
                  Jitendra Pethkar | Pethkar Projects

                  Comment


                  • Re : Builders & Real Estate Bulls Theory Proved Wrong

                    Pune retail growth affected, projects delayed

                    Nilanjana Ghosh Choudhury
                    May 16, 2010,Sun
                    Source:- 3dsyndication

                    The boom in the economy post the economic slowdown is yet to show its effects on the retail sector with Pune registering over 6 million square ft of over supply in commercial space.

                    As per an estimation done by leading real estate consultant Knight Frank, over the next few years, plans for construction of organised retail space will be delayed due to high vacancies in already constructed projects resulting in projects being delayed by over three years across the city. Projects which were scheduled to be operational in 2009-10, will now only commence by 2012-13.

                    "Retail and IT space combined Pune currently has an over supply of over 10 million square feet with SEZ alone having nearly 2.5 million square ft of vacant space. Moreover, several projects have also been called off,'' said president of National Realtors Association Ravi Verma. According to the Knight Frank 'India Organised Retail Market diagnosis and outlook in the last one-and-a-half-year, out of the total retail space in 2008-09, the construction of 1.25 million sq ft has been called off and only 1.5 million sq ft has become operational. Some of the malls whose construction has got delayed during this period include Inorbit Mall, R Mall, Down Town and Esplanade. Also two of the main mall projects in south Pune, 44 Sinew Hills by Kumar Builders and Kakade City Mall by Kakade Group both at Karvenagar have been called off.

                    The level of vacancy is the highest in central Pune (areas like Deccan, FC Road, JM Road, Senapati Bapat Road) with 37%, followed by north (Pimple Saudagar and Wakad) with 22% and east (Kalyaninagar, Hadapsar, Airport Road, Vimannagar, Ahmednagar Road and Koregaon Park) with 15% vacancy levels. South (Karvenagar, Kothrud ) and west (Baner and Aundh ) have 5 and 4% vacancy levels at present.

                    "Though the demand for residential space has picked up in the last few months, the same did not happen with retail. Falling demand coupled with builders being ready to negotiate prices at any given time is resulting in this crisis. Moreover, the problem is now going to be augmented more with additional capacity being added over the next few years,'' added Verma.
                    ----
                    This is similar to what is being seen in other cities like Mumbai. Btw, commercial spaces tell the real story of financial condition rather than residential.
                    If you are happy, you are successful.

                    Comment


                    • Re : Builders & Real Estate Bulls Theory Proved Wrong

                      Read this today in a newsletter i receive...

                      Chinese banks have had a brilliant run so far. The nation of aggressive savers has been pouring more than a third of its GDP into banks. This has made some of them the largest globally in terms of balance sheet size. The government's mandate to lend aggressively has also helped these banks grow at a scorching pace when their global peers, including some in India, were cutting down exposure to risky businesses. However, analysts in the dragon economy see red from here on. The banks' heavy exposure to real estate could wreck havoc to their asset quality. One that could transpire from home loans to personal loans, as seen in the US. About 30% correction in housing prices is all that will take the Chinese banks to acknowledge that so far they were supporting a bubble. We will not be surprised if China too follows the 'Too Big To Fail' mantra.

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