real estate india

Flats/Apartments in Gurgaon

Flats in Gurgaon is the most sought after housing solution, since they offer varieties in style, living standard and, of course, prices. The wide array of flats and apartments in Gurgaon make it possible for every category of home seekers to seek affordable accommodations. The city has shown an amazing rate of property growth over the past few years and the escalating growth rate do not seem to die down in another couple of years. This is because of the many upcoming housing projects by leading builders in Gurgaon, which are expected to increase the number of available flats/apartments by 10,000 in luxury segment over the next few years.

Thus, for real estate investors, Gurgaon real estate continues to be a heaven, the value of which is likely to appreciate at a rate of 10 to 15 percent per year for the next couple of years. The major players in the realm of building construction and township planning remains DLF, Emaar MGF, Unitech, Ambience, Parsvnath, Vatika limited and Tata Housing who are coming up with plans of several high end apartments in areas like Sohna Road, Golf Course Road, Central Park 2 etc. These housing units are being developed to target the premium category of home buyers and hence, are expensively priced.

Although it costs too much to own a flat in Gurgaon, the features incorporated in it will ensure a truly lavish lifestyle and make you its proud owner. Options of 4-5 bedrooms, beautiful landscape, central air-conditioning, private escalators, spas, gyms, swimming pools, play grounds, golf course, security cameras etc are some of features that will certainly give your dwelling place a unique status. Moreover, the high rate of appreciation as well as high rental value give you an opportunity to secure financial gains for future.

Some of the major upcoming residential projects for flats and apartments in Gurgaon include Belaire by DLF, Palm Spring by Emaar MGF and Exotica by Parsvnath. Such luxury apartments with lavish specifications will cost you anything between 1.5 to 4 crore. Besides, for middle class segment, flats under the projects “New Town Heights” by DLF and “Vatika India Next” by Vatika limited offer world class dwelling experience at moderate prices. With the increasing number of flats in Gurgaon, it is also possible to rent a flat at reasonable rate.

Browse through the site www.zameen-zaidad.com to know more about flats/apartments for sale and for rent in Gurgaon.

Office space in Gurgaon

OSG currently offers over 1.5 million square foot of office space in gurgaon for rent and over 2.0 million square foot of office space for sale in gurgaon.Current availability includes office unit sizes starting from 1000 square foot office space to up to 200,000 square foot in a single unit spread over multiple floors in a single A class multistory building. Please contact us for your commercial real estate requirements using the form visit website www.zameen-zaidad.com and we will get back to you with the most suitable options for you within 1 business day including a proposal, office photographs, sitemap, location details, floor plans and all relevant details that you want to know before investing into the property. So all type commercial and residential flats are also available 2 BHK and 3 BHK flats are available in this town. Any further information visit website zameen-zaidad.com.2 BHK flat in gurgaon. And 3 BHK flat in gurgaon.

ESSAR REALTY WINS BID FOR RS 500-CRORE NAGPUR HOTEL PROJECT

ESSAR Realty Holdings—the real estate arm of the Essar group—has won the bid for building a Rs 500-crore five-star hotel, utility centre and a multiplex at the upcoming Multimodal International Hub Airport in Nagpur. The realty firm has also formed a joint venture with the US-based hospitality group Accor Hospitality to develop and manage the hotel project. A few months back, the Maharashtra Airport Development Company (MADC), the nodal agency for developing the air cargo hub in Nagpur, had invited bids for the hotel cum conventional hall project. Essar Realty bid for the project through its subsidiary company Yojna Realties. G L Raheja group promoted Raheja Constructions was the immediate bidder for the project. Essar Realty's managing director Chirag Ramakrishna said "The MADC deal would reinforce our long-term commitment to the realty business as we continue to look at more opportunities in the realty sector." The five-star hotel would be developed in a 10-acre area adjacent to the National Highway VII on the Nagpur-Wardha road. The hotel would have a capacity to house 1,000 people. It would also have a service apartment to cater to the needs of executives who stay on for long tenures. MADC's project is the second largest property deal struck by Essar Realty during the past six months. Earlier, the firm had acquired Peninsula Land's (PLL) Kurla commercial project for close to Rs 1,200 crore. Peninsula Land sold approximately 9 lakh sq ft of commercial space to Essar Realty Holdings at its upcoming Peninsula Tech Park project. The proposed Nagpur airport project with an investment of Rs 3,000 crore is to be completed in four years, adding a new dimension to India's capability of handling air cargo. Courtesy: - ET dtd: - 04^th Aug. 2008

HDFC PROPERTY VENTURES TO PICK 25% IN NITESH MALL

HDFC Property Ventures Ltd is investing $20-25 million into South India's largest central business district (CBD) mall developed by Nitesh Estates in Bangalore. The move probably marks the $900-million HDFC Property Ventures' foray into retail infrastructure in a rather tight-market environment, sources said. HDFC Property Ventures will pick up around 20-25% stake in the 6-lakh sq ft Nitesh Mall, which is being designed by Seattle-based Callison. Nitesh Mall, which is the Bangalore-headquartered real estate firm's first retail play, is estimated to be a Rs 300 crore project. The Nitesh Mall will come up on a 5.5 acre patch located in proximity to hotel Leela Palace, off the Indiranagar 100-ft road that is considered one of Bangalore's high street retail hubs, with most big brands operating their flagship stores there. When contacted Nitesh Estates' director, development, LS Vaidyanathan declined to comment on the deal. HDFC Property Ventures CEO KG Krishnamurthy could not be contacted immediately. The development comes at a time when private equity funds are believed to be staying away from real estate/retail investments on account of the weakening consumer sentiments and an economic slowdown. HDFC Property Ventures is Nitesh Estates' third PE partner. Last year, the firm attracted investments from New-York based Och Ziff Capital and Citigroup Property Investors, with the latter co-developing the Ritz-Carlton hotel in Bangalore with Nitesh.

Nitesh Estates had earlier announced that it has identified property in southern cities of Chennai, Thiruvananthapuram and Kochi for similar retails initiatives. Construction of the mall in Bangalore is expected to be completed by the end of 2009 with the project planned for luxury brands apart from a large format retailer as the anchor client.

Courtesy: ET dtd 04-08-08

Delhi Metro Sells 2 ha For Rs 220 Cr

NEW DELHI: Little known realty firm Young Builders has bought Delhi Metro’s 2-hectare land at Vishwavidyalaya metro station in North Delhi for Rs 220 crore in an auction reports Sanjeev Choudhary. It will construct a residential complex at the site. The developer has bought the land on a 90-year lease and is likely to get a developable area of 3.5 lakh sq ft, which will translate into a land acquisition cost of around Rs 6,200 per sq ft. A residential project being developed by Parsvnath Developers close to Vishwavidyalaya metro station is being sold at Rs 10,000 per sq ft.

Courtesy:-E.T. date: - 5/08/08

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IMPORTANT TIPS FOR BUYING PROPERTY

To take a decision to buy a property in one's life time is an extremely important decision as one has to drain down the whole amount of hard earned precious savings for owning suitable home. After selecting a home of one's choice, he will have to go through and check a lot of legalities and paper work. As such, one must be conversant with various legal terms and technicalities. 1. Clear Title Deed: - One must ensure and investigate the records of last 25 to 30 years from registrar's office whether the property selected is unencumbered and has a marketable clear title. It will be better if such documents are got examined by a lowyer so that there may not be any hurdle while mortgazing same for obtaining loan from bank or financial institution. 2. Property Under Construction: - When a property of one's choice is under construction, he should ensure that the builder has all the legal document viz-a-viz agreement signed between the builder and the Landlord, CLU, layout plan duly approved by the concerned authorities, environmental clearance and other necessary permissions required for construction of multi storeyed buildings etc. 3. Ready To Occupy Property: - In case of ready to move properties one must ensure that the seller has clear title and possession of property as well as right to sell the property. Also check that the building has been constructed as per approved plan, it has not been mortgaged and all dues till date for water, electricity & house tax have been paid in full. Also ensure to take all necessary original documents i.e. allotment letter, completion certificate & possession certificate etc etc obtained by the seller from the builder. 4. Payment of stamp duty for Sale Deed: - Usually stamp duty is charged as fixed by the government and is payable by the purchaser. Builder, seller and purchaser are required to be present at the registrar office at the time of registration. Also ensure proper documents are obtained after making the payment.

MATHERAN REALTY SETTING UP LOW-COST HOUSES AT KARJAT

The big worry for most people is what the house will eventually cost? At the end of, it will work out to Rs.3 Lakh. Those who opt for the monthly payment option will need to shell out Rs.2, 000 every month. It could well be termed a lottery with a difference. Anyone who has chanced to buy a lottery at some point is aware that the rewards are huge for an almost minimal charge. Matheran Realty is banking on this for its first phase of 2,000 flats, situated about 100 k.m. from Mumbai in the picturesque Karjat, this project will have apartments at 300 sq. fit. apiece. So, how will this work? The mechanism is pretty simple actually, with a person having to fill an application form which is priced at Rs.100. To make sure there is no unfair advantage, a person can fill in just one form ensuring everyone is in with an even chance. Besides, there is no question of packing and choosing since you just take the flat that comes your way. All the 2,000 apartments will be given to the winners through the lottery method. The price tag is Rs.999per sq. ft. Matheran Realty is working with UK’s Eredene Capital and Philippines’ Sterling Construction Systems (SCS). The township, called Tanaji Malasure City, is now witnessing the first phase of construction. The plans by any yardstick are gargantuan – in all, there will be 2 lakh houses with each having an area of 300-500 sq. ft. Come January 2009, the first set of owners will be ready to move into their dream home. SCS is banking on the paucity of affordable housing in Mumbai to drive its mega township. “We expect a huge response to the scheme,” says SCS president (marketing) Harinder Bhalla. There seems to be hope for those who do not get their allotments in the first phase. They will get preference when booking starts for the second phase. That effort may be worth it since the project will be home to schools, colleges, hospitals and a retail centre. The entire exercise is expected to be completed over the next 10 years. All this will be over 100 acres. Eredene Capital will fund the project to the extent of Rs.131.2 crore with SCS offering technical support. The big worry for most people is what the house will eventually cost? At the end of it, it will work out to Rs.3 lakh those who opt for the monthly payment option will need to shell out Rs.2,000, Speaking of construction technology, SCS will use prefabricated Hardiflex fibre cement Boards. This has been used with some success for housing projects in the Philippines, Australia, Jordan, Vietnam and in India. Importantly, it lowers construction cost by 15-20% and construction is much faster. With a price tag of Rs.3 lakh, this form of housing could work well for those in the Rs.8,000-1,0000 salary brackets. In terms of profitability, there is always a question mark. “Such projects are profitable though the margins may be lower than what premium property developers get, “says Park Lane Property Advisors managing director Akshaya Kumar. Others tracking the industry think that low-cost housing will have acceptable levels of production quality and succeeds in cutting down frills such as high quality paints open space and parking. Courtesy: - ET. dt. 1^St August 2008

Special Residential Zones Could Be In Offing

With real estate developers lobbying for special residential zone on the lines of special economic zones, the government has now indeed stated considering their proposal. The ministry of urban housing is of the view that earmarking of land masses in cities and their peripheries for such zones can really boost country’s housing stock, provided there are enough regulations in place. The policy makers fear it may not turn out to be a foul real estate play for developers. Also there is major hindrance to convince states in doing so, land being a state subject. Courtesy: - E.T. dt 1^st August 2008

INDIA UNDER CONSTRUCTION

Excellent Infrastructure, Special Residential, Zones, A Green And Sustainable Environment, Uniform Land Laws Across The Country, A Single Window For All NOCs And Efficient Land Records Will Change The Face Of Realty In India In 2020. Indian real estate in the past few years, has significantly transformed itself and has been through a roller caster situation – the highest of the high being the unprecedented few of FDI following the opening up of the sector, interest rates at very affordable 7 per cent. Public listings of many companies and price hike; on the other end the lowest of the low has been market capitalisation of the recently listed companies hitting unexpected lows, a 20-30 per cent price correction in the metros,Sluggish adsorption, spiraling inflation adding to the already high input costs and the worst of the lot interest rates 14 per cent. But, these are surface level fluctuations that operate on what must be described as one of the biggest opportunities in the world for construction and infrastructure development. India needs not just homes (22million of them), here is need for offices, SEZs, airports, roads, schools, hospitals, entertainment centres… the list is endless. This inherent need is an opportunity that cannot be denied. In 2020, India is slated to be an economic super power and one of the underlying assumptions is that infrastructure would be the booster rocket of growth. But, for all this to happen, some realities of the real estate business need to change. The following three things will be a reality in 2020. 100 per cent infrastructure – Real Estate projects, whether residential or commercial, will have 100 per cent infrastructure guarantees. This means that all projects would have quality access reads, water, electricity, connectivity, safety and security. Our cities are bursting at the seams and given our pace of development, the shortcomings of meeting infrastructure needs are likely to widen. Thus, the projects that are likely to succeed in the future will be those that have quality in terms of basic infrastructure. In fact, real estate development which encompasses housing, schools and colleges, hospitals, SEZs, offices, retail and industrial developments, entertainment centres and sports facilities will converge with the conventional infrastructure (of roads, water, electricity, airport, ports etc) and be seen as an integral part of infrastructure development of the nation. SRZs – Special Residential Zones must become a reality. Unless one addresses affordable housing for the teeming millions much of the expected gains may remain a dream. The SRZs are like SEZs, only the development caters to housing for the masses. SRZs are to be free of government levies and taxes, thus making homes more affordable by up to 30 per cent. This will ensure that the common man has chance of getting a roof over his head at affordable prices with the best of essential amenities. Green mantra – Green and a sustainable environment while carrying out urban development would be part of the landscape like water and electricity. This is not only because one needs to contribute to preserving our environment, but also because sustainability would translate into distinct cost advantages. Green and sustainability will be consumer driven and not necessarily developer driven. Three more things that will happen to change the face of the real estate sector by 2020 include. Land would have uniform laws through-out the nation – Currently land being a ‘state’ subject is under the jurisdiction of the local governments. There is a kaleidoscope of interwoven state, centre and local laws dealing with every parcel of land. This means that there are varying rules, regulations, standards, practices, from town to town across India. Even the simple concept of replicating ‘best practices’ from town to town across the country. In short-business is not as usual across India. Even the simple concept of replicating best practices’ across the country cannot be replicated smoothly due to a fragmented legal framework. A single window for all NOCs and clearances – There is hardly any predictability in terms of when one can get clearances or NDCs. It can take any time from three months to three years. One of the primary reasons for this is the lack of single window for all clearances and NOCs. Reducing the ‘time to market’ will reduce costs. The current unpredictability, enhance efficiency and ultimately pass on cost benefits to end users as risks of delay significantly decrease. Efficient land records – Perhaps the riskiest par of the real estate business is the lack of robust and reliable land records. If one were able to have reliable land records by 2020, one would have taken a huge step towards making the sector bereft of risk. In 1991, our then Finance Minister Manmohan Singh had concluded his maiden budget presentation with these words, “No power on earth can stop an idea whose time has come”. The time for real estate development to drive the GDP, to create employment and to take India to its rightful position in the comity of nations is here! During the next two decades the signage across our country will be “India: Under Construction.” Courtesy: - HT Estate. 26July 2008