property Investment property Advisor -property Age

Located at the heart of TDI City, Kundli, Kingsbury Prime are spacious apartments with great interiors that are offset by a grand panoramic view of the picture-perfect ortdoors. With a host of world class amenities and facilities Kingsbury Prime will be the most coveted addess of the future.

This towering edifice of luxury apartments is a lavish compliment to a way of life that is as natural to you as cream rising to the top. Be prepared to be pampered, spoilt and realize that just about everything has been put together to under live your exclusivity. That’s what will inspire you to make Kingsbury Prime your address.

It’s class all the way. Class that says you have been able to perfect the jinee art of indulgence.

Diversified business group ITC is planning to develop properties across the country depending on the demand and land availability, the group’s hotels division Senior Executive Vice-President Pawan Verma said.

ITC (hotels division) is keen in development of properties across the country, depending on the demand and the availability of land (on its own),” Verma told reporters here.

In association with its wholly-owned subsidiary Fortune Park Hotels, ITC had already taken up property development work at Bangalore and Coimbatore.

Courtesy:- BS dtd:- 24^th Dec 2008

Ansal Buildwell’s Florence Residency at Sushant Lok II & III – South of Delhi – offers a choice of well designed living spaces, spread over three independent floors. It offers the prospective buyers a choice of three bedroom apartments at the ground, first and at the second floor.

                        Courtesy:- Times Property dtd:- 20th Dec. 2008

ISRAEL’S leading construction company U Dori Group is picking up a 50% stake in residential project joint venture (JV) with Hyderabad-based Surana Group for Rs 125 crore, a person involved in the transaction said on condition of anonymity.

The U Dori Group will invest in Bhagyanagar Properties and Scientia Infocom—the two real estate arms of Surana Group — for setting up a residential group housing and construction development project in Hyderabad. The Israeli company will invest either on its own or through its subsidiaries Dori Global or Gazit Globe.

The two Surana group companies have a land bank of 25 acre in Hyderabad for setting up a group housing society.

Dori Global is the international real estate development division of U Dori Group that is into developing residential projects in Eastern Europe. Gazit Globe is also a Tel Avivlisted real estate company which is engaged in acquisition, development and management of income producing properties across the globe. Surana Group is a Hyderabad-based conglomerate engaged in manufacturing telecom products, copper products, power cables apart from its interests in real estate and power sectors.

The Surana Group will eventually merge Bhagyanagar Properties and Scientia Infocom to create a special purpose vehicle that would act as a JV between the Surana Group and U Dori, the person added.

The subsidiary companies are in the process of obtaining necessary approvals such as lay-out plans, land use change, payment of external developmental charge from state government and concerned municipal bodies. Bhagyanagar India, a Rs 200-crore BSE-listed company of Surana Group, will give an irrevocable bank guarantee against the amount of Rs 125 crore being pumped in by the Israeli company.

According to the agreement between the two parties, in the event all approvals are not obtained by the Surana subsidiaries in a year, the U Dori Group will have an option to either give a grace period of 12 months for obtaining the approvals or walk out of the project by selling its shareholding in the JV company.

Courtesy:- ET dtd:- 19th Dec. 2008

Unitech ltd plans to invest Rs. 2,500 crore to launch 10,000 residential units in the Rs. 30-50 lakh category by the next fiscal. The company would launch affordable housing projects in Gurgaon, Noida, Greater Noida, Kolkata and Chennai, where it has land banks. “We are in apposition to launch a number of projects, “said Ramesh Chandra, chairman, Unitech.

Courtesy:- HT dtd:- 19th Dec. 2008

BPTP introduces for the first time in Parklands Faridabad, a ground +3 floors residential project, Park Floors. Ideally located and well connected to Delhi and NCR , this development will surprise you with its reasonable pricing and comprehensive facilities. The floors have ample open space and more importantly, are completely registrable. The floors are all yours.

• Starting at 19.85 lakhs* only.
• Registrable freehold floors.
• Well connected to Delhi and NCR.
• At Parklands, Faridabad.
Specifications
PROJECT PARK FLOORS
SITE PARKLANDS, FARIDABAD
Wall Finish Internal
Liviing/Dining/Bed Rooms Painted in pleasing shades of Oil Bound Distemper
Lobbies Selected Marble/Granite Cladding
External Facade of Towers Textured Paint Finish
Flooring Liviing/Dining Porcelain Vitrified Tiles
Bed Rooms Vitrified Tiles
Balcony Anti Skid Ceramic Tiles
Lobby Selected Granite/Marble
Kitchen Flooring Ceramic Tiles
Dado Ceramic Titles above working platform, rest Oil Bound Distemper
Toilets Platform Granite Counter with single bowl stainless steel sink with drain board
Dado Selected Ceramic Titles
Floorings Ceramic Tiles
Fittings Granite/Marble Counter, white sanitary fixtures & contemprory styled CP Fittings.
Windows Windows Aluminium / UPVC
Doors Doors Seasoned hardwood frames with painted board shutters.
Facilities Electrical Conduit Copper electrical wiring for all light and power points
100 % Power Backup 3 KV 2BR/4 KVA 3 BR

Any further info log on to http://www.zameen-zaidad.com/

Bptp limited, one of the fastest rowing real estate companies in India, performed the ‘Bhoomipujan’ of its prestigious commercial project, Centra One at Sector 61, Gurgaon. Kabul Chawla, Managing Director, BPTP Limited said, “BPTP sees growing potential in Gurgaon which has become a hub of commercial and retail ventures due to its close proximity to Delhi. Prime locations have always been a key factor in all our projects and Centra One is yet another example.” Centra One, a high-tech business complex strategically located on the Golf Course Road Extension in Sector 61, Gurgaon is designed by world renowned architects Cervera and Pioz from Spain, Spread across 3,675 acres, it encompasses a dedicated expanse of offices and retail with world class amenities like Multi-Cuisine Specialty Food Court, Lounge Bars, Cafeteria, Swimming Pool, and Health Centers, Gymnasium and Spa

                  Courtesy:- ET Realty dtd:- 12th Dec. 2008

As soon as a society is formed, the co-operative societies should ensure to get the mentioned documents from the builder

Co-operative societies should ensure that they get the following documents from the builder, soon after the society is formed. These should be handed over to the managing committee members by the builder. Ledger abstract of the property i.e. 7/12 abstract Order issued by the competent authority as per the provisions of the Urban Land Ceiling Act Registered Development Agreement executed by the developer with the land owners Copies of the Power of Attorney given by the owners in favour of the developers along with the copy of the registration receipt Intimation of disapproval from the Bombay Municipal Corporation Authorities Occupation Certificate Building Completion Certificate Approved plan of the building Chain of documents through which the vendor acquired the right, title and interest in the property Non-agricultural assessment order Nonagricultural tax paid receipts Title Clearance Certificate from the vendor’s advocate Search report for the last 30 years with the search fees paid receipts Original documents of title to the property Architectural and structural drawing of the property. (This file should include electricity power supply, cables layout, water supply connection, underground tank to overhead pump drawings, sewerage and drainage drawings) File of deposit receipts like electricity, water and deposits to municipal authorities, Name and address of all the contractors with the unpaid bills, advance paid to the contractor appointed by the builder whose contracts have not yet expired with regard to the building being managed by the developer till handing over the charge of the affairs of the building. File of various contracts as well as for warranty of various goods like water pump, lift contract, Separate files for water bills, property tax bills, electricity bills, telephone bills Co-operative Societies registration files which shall contain various applications, forms, undertakings, bye-laws, details of the bank account opened in the name of the bank Audited statements of accounts for the amount collected by the builder, List of incomplete works, List of parking stilt as well as open parking allotted by builder.

Courtesy:- ET Realty dtd:- 12th Dec. 2008

The blood bath in the real estate sector is now clearly getting reflected in the balance sheet of leading developers. The recent results of major real estate companies have revealed that bottomlines have indeed been hit badly. While DLF’s earnings in Q2 Financial Year 2009 came down by 4% as compared to the same quarter last year, Unitech’s earnings came down by 12% as compared to last time. Ditto is the case with other real estate companies such as Parsvnath, Ansals and Omaxe.

This has clearly made things worse for the sector which was already facing a major cash crunch and is an indication of the current slump haunting the real estate market. So are realty players ready for a change of strategy? Says Vipin Aggarwal, executive director, Omaxe Group: “We will be concentrating more on affordable housing for people. There has been less demand for high and even middle-end products. Gradually, land costs will also decrease. Affordability, undoubtedly, is the need of the hour.”

Many real players are changing their focus and business strategies. Even real estate major Unitech has changed its product portfolio and included more mid-income housing projects to push up sales. In fact investment in the real estate sector remained subdued in the second quarter amid global economic slowdown, which has cast its shadow on the property markets across the world, as per global real estate consultant C B Richard Ellis’ (CBRE) Asia Pacific Investment Market Report for the second quarter of 2008. The property markets around the world, particularly Asian markets have been affected by slowing economic growth and unsettled capital markets.

Rajeev Talwar, group executive director, DLF feels that a breather is necessary for the sector. “There have been a whole lot of changes in the global economy across various sectors. As far as real estate is concerned, the home loan rates need to be reduced. Also this sector should be treated as urban infrastructure on par with other sectors. Financing real estate liberally is also needed.”

Agrees Pradeep Jain, Chairman Parsvnath Developers Ltd: “In the last one year, the inflationary trend has increased the input costs, thereby putting pressure on margins. Global slowdown and financial crisis in US and European countries has put pressure on liquidity in India as well. This has resulted in increase in interest cost further affecting all the industries including real estate sector.”

However, Shobhit Agarwal, Jt. MD - Capital Markets of global real estate consultancy Jones Lang LaSalle Meghraj says that the mixed results of different real estate companies indicate that there is a slowdown in absorption in the market rather than a slump. “Demand for real estate asset classes like residential is still strong but the consumer is no more willing to accept irrational pricing. Hence, a correction of prices along with reduction in home loan rates, is most likely to boost up absorption.”

Shobhit adds that developers now seem to be focussing more on mid-income housing, enhancing self-liquidity by offering incentives and are lobbying with the Government and banks to catalyze debt funding to the sector at lower interest rates.

                                                                Courtesy November 10, 2008 Indian realty News

The government of India issued a warning on illegal land sales to foreigners in the country, especially in the state of Goa. Located in the western part of India, Goa is known for its seaside views and inexpensive housing, which attract many foreigners. The statement by the Ministry of Finance said that it has come to the notice of the Central Government that foreign nationals are buying immovable property illegally in some parts of the country, particularly in Goa, which has raised concerns.

All, including the authorities concerned in the State Governments, are hereby advised to be extra vigilant in such matters and satisfy themselves about the eligibility under the Foreign Exchange Management Act before registering a sale or purchase of immovable property in India. The enquiries may include both the intending buyers and sellers. The relevant travel documents and the nature of visa may also be verified before registering such sale / purchase.

                                                                Courtesy November 10, 2008 Indian realty News