July 2010

Real Estate Collaborates With Education Industry

by Paul Joseph July 2, 2010

n Realty and Infrastructure firms like GMR and Hindustan Construction Company, HCC have announced to set up university campuses and other educational institutes within India. They mainly aim to ride high on the huge returning education industry. The education industry in India is worth more than 10 bn US dollars with continuous growth rate. Because the Real Estate market is on a low these days developers are looking at alternate assets such as education. Partnerships of such kind are increasing day by day in every other township or SEZ as educational institutes bring more revenue. Chintan Patel, Associate Director, Transaction Advisory Services, E&Y said, “Access to social infrastructure such as schools and colleges serve as attractive features that make it easier for a developer to sell projects.” Further he had to say that partnerships between a developer and international institution benefits society and develops retail, office and residential spaces around. The tie ups usually work on build-and-rent business model. While a developer acquires the land and builds the infrastructure for the educational facility, the institute runs the school or college. It either pays rent or works on a revenue-share model. The companies which are laying out plans in education are HCC who have bought 500 acres for institutes at Lavasa, its hill city project close to Pune, Maharashtra.It has tied up with Symbiosis, Bangalore-based Christ University, Institute of International Business Relations of Germany, Switzerland-based hospitality Management Institute Ecole Hoteliere de Lausanne and Educomp, and more. Global infrastructure player GMR, too, has collaborated with Canada-based Schulich School of Business to build a campus in Shamsabad, Andhra Pradesh, The Company will construct the physical infrastructure for the institute, and in return, earn management fee on the maintenance of residences and hostel facilities.

Tagged as: bangalore-based, education, management, property news, university

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SBI extends home loan schemes

by Paul Joseph July 1, 2010

State Bank of India (SBI) has decided to extend its flagship home loan schemes: SBI Advantage Home Loans and SBI Easy Home Loans, and car loan schemes: SBI Advantage Car Loan and SBI Ezee Car Loan, and leave their terms unchanged following the transition to the Base Rate system with effect from July 1. “The rates will be valid till September 30, unless the Base Rate is revised in the meantime,” SBI said in a release here. For home loans, the rate is 8 per cent per annum fixed for the first year and 9 per cent fixed for the second and third years irrespective of the loan amount. From the fourth year onwards, the rate is linked to the Base Rate and the effective rate is 9.25 per cent for loans up to Rs. 50 lakh and 9.75 per cent for loans above Rs. 50 lakh at present, it said. For loans for new cars, the interest rate is 8 per cent fixed for the first year, 10 per cent fixed for the second and third years. Thereafter, the rates are linked to the Base Rate and the effective rate at present is 11.25 per cent for the fourth and fifth years and 11.5 per cent for sixth and seventh years for Ezee Car Loans with limits up to Rs. 5 lakh. For loans above Rs. 5 lakh under Advantage Car Loans, the floating rate is 25 basis points less than that for Ezee Car Loans. Meanwhile LIC Housing Finance Ltd (LICHFL) announced three lending products on Wednesday. These are: Floating rate: For home loan borrowers preferring floating rates ab-initio the special offer rates for new customers for loans up to Rs. 1.50 crore will be 8.75 per cent. Earlier, the special offer rates for loans above Rs. 75 lakh and up to Rs. 1.50 crore were priced at 9.75 per cent. New Fix-O-Floaty: For home loan borrowers opting for short-term fixed rate, the new Fix-O-Floaty offers loans at a competitive rate of 8.90 per cent fixed up to March 31, 2012, for loans up to Rs. 1.50 crore and thereafter on floating basis. The earlier rate of interest for loans above Rs. 75 lakh and up to Rs. 1.50 crore was 9.90 per cent. Advantage 5: LICHFL has brought out a product called ‘Advantage 5′ where under the lending rates are fixed at 9.25 per cent for five years and thereafter on floating basis. Source : http://www.thehindu.com/business/companies/article493819.ece Filed under: Home loans Tagged: Home loans , SBI

Tagged as: base, fourth, home-loans, housing-finance, lending, loans, sbi

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Understanding the base rate regime

by Paul Joseph July 1, 2010

Starting July 1, all banks in India will be moving to a “base rate” regime. What does this mean for you and how does it affect your existing borrowings? Here we help clarify some of these questions. What is the base rate? When you borrow money to buy a house or car or electrical appliance, there is an interest rate that you have to pay to the lender. The base rate is the minimum rate that a bank will lend money at. Think of it as a floor below which RBI will not allow banks to lend to you. Previously, banks used to price the loans they offered you on a complicated system called benchmark prime lending rate (BPLR). Each bank has its own BPLR methodology which made it difficult for borrowers to compare rates across banks. Now, with the base rate in place, it will be easier for all of us to compare across banks and to get a more transparent sense of how the interest rate for the loan is being arrived at. Is my interest rate going to be cheaper? Will my EMI change? The most important thing to keep in mind is that the cost of money is not changing, i.e., if your car loan cost about 12% or home loan cost 9%, this rate of interest charged to you will be no different going forward. Its just that the method used to arrive at this will be more clear to you. So, interest rates aren’t coming down as a result of this base rate implementation. Following on from this, your EMI on an existing loan is also not going to change. You will continue to pay whatever you were paying up to last month in future months as well. Should I change to a bank with a lower base rate? Like we said above, the cost of money is not changing. Most banks will continue to charge you a very similar rate of interest as they did before. Just because one bank has a base rate of 7.5% and another has a rate of 8% does not mean you should switch to the bank with the lower rate. On top of this base rate will be added an additional amount of interest that they bank will charge you to cover its cost of doing business with you, and some compensation for the risk its taking in lending to you. So, after all these additions, its unlikely that the lending rate that a bank will be charging to you will be any different to the rate being charged by your current bank. You will see no major advantage to shifting from one bank to another. How does the base rate affect my pre-existing loan? Nothing is going to change for existing loans. They will continue as is. Like we mentioned above, interest rates aren’t changing in the economy. However, when your loan comes up for renewal, then it will be priced using the base rate formula. Will the base rate remain fixed forever? No, the RBI has given guidelines to banks to adjust their base rates depending upon the prevailing market conditions and interest rate policies. Expect to see banks update their base rates every few months if that is required. Banks will then communicate this to all their clients Source : http://in.reuters.com/article/idINIndia-49797020100701 Filed under: Home loans Tagged: Base Rate , Home loans

Tagged as: clients, home-loans, india, interest-rate, rate

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LIC Housing Finance announces three lending Products

by Paul Joseph July 1, 2010

For Home Loan borrowers preferring Floating rates ab-initio the Special Offer Rates for new customers for loans upto Rs. 1.50 crs will be 8.75%. Considering the changed market environment of Home Loan Space, LIC Housing Finance Limited  has announced three different products with varied options to enable the customers to choose the appropriate one. Floating Rate:  For Home Loan borrowers preferring Floating rates ab-initio the Special Offer Rates for new customers for loans upto Rs. 1.50 crs will be 8.75%.  Earlier the Special Offer Rates for Loans above Rs. 75 lacs upto Rs. 1.50 Crs were priced at 9.75% New Fix – O – Floaty:  For Home Loan borrowers opting for short term fixed rate, the new Fix – O – Floaty offers loans at a competitive rate of 8.90% fixed upto 31.03.2012 for loans upto Rs. 1.50 Crs. and thereafter on floating basis.  The earlier rate of interest for loans above Rs. 75 lacs upto Rs. 1.50 Crs was 9.90% Advantage 5  In the emerging market scenario movement of interest is unpredictable and many customers may look for fixed lending rate for a considerable long period.  LICHFL has brought out a unique product called ‘Advantage 5’ where under the lending rates are fixed at 9.25% for 5 years and thereafter on floating basis. The rates will be effective w.e.f 1st July 2010 till further review. Source : http://www.indiainfoline.com/Markets/News/LIC-Housing-Finance-announces-three-lending-Products/4872399378 Filed under: Home loans Tagged: Home loans , LIC Housing

Tagged as: home-loans, housing, housing-finance, lending

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Purva Skywood – Puravankara Skywood Bangalore

by Paul Joseph July 1, 2010

PURAVANKARA GROUP one of the top most real estate builders in India was established in 1975. The group has more then 30 years of expertise in real estate development in India. Puravankara Groups operations cover Bangalore, Kochi, Chennai, Coimbatore, Hyderabad, Mysore, Colombo and the United Arab Emirates (U.A.E). There are many project already running very successfully in the Bangalore like Purva High land, purva fountain square and may more.  Now Puravankara Group is coming up with luxury apartment at Sarajpur Road, Bangalore that is Purva Skywood Bangalore. This is a high rise luxury Apartments having the choice of 2, 3 and 4 BHK with the area ranging form 1309 sqft to 2340 sqft. and spread over 13 acres of land Price for Purva Skywood starts from Rs.38,22,280. Features of Purva Skywood There are almost all amenities like a world class life style like Gymnasium, swimming pool, landscape garden, outdoor children’s play area, meditation room, party hall, pets corner, Jacuzzi, steam & sauna, jogging track, aerobic room, amphitheatre, skating rink, cricket pitch, indoor and outdoor games facilites are available with this hot project. Location of Purva Skywood Purva Skywood is located off sarjarpur road, kudlu/harlur, only 4kms from ORR Junction. Price and size details of Purva Skywood Type—————Size (sq.ft.)—Price (INR) 2 BR-2T————1309————3822280 2 BR-2T————1330————3883600 3 BR-3T————1690————4934800 3 BR-3T————1867————5451640 4 BR-5T-1SR——2340————6832800 Source : http://www.stockmarketsreview.com/realestate/2010/06/29/purva-skywood-puravankara-skywood-bangalore-call-uk-020-8090-4217/ Filed under: Bangalore , Builders/ Developers , New projects Tagged: Bangalore , Puravankara Group

Tagged as: apartments, bangalore, builders/ developers, city-trends, new-projects, real estate

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Bangalore’s realty sector booming bigtime!

by Paul Joseph July 1, 2010

According to a report by the retail estate research firm, Cushman & Wakefield, Bangalore is the top real estate destination for commercial and industrial sectors. The real estate market in Bangalore is all set to boom once again! Real estate was the worst hit due to global economic recession, but now slowly things are getting back to normal. With India’s economic recovery well under way, the real estate market is also beginning to stabilize. According to a report by the retail estate research firm, Cushman & Wakefield, Bangalore is the top real estate destination for commercial and industrial sectors. It has become third preference for residential and hospitality sectors in India for real estate investment. The report reinforces the result by adding that Bangalore may witness the demand of 34 million sq. ft. for office space in the next three years. The realty sector is anticipated to grow at the rate of 30 percent annually over the next decade, which will attract foreign investment worth $30 billion, with a number of IT parks and residential townships being constructed across the city, real estate agents feel that this is the right time to invest as the prices aren’t too high. The report suggests a revival of demand in commercial real estate by corporates and multinationals. “Market is improving as of now because of these developments in the IT sector, so this is the right time to invest and to buy. Even the IT and ITes industries are considering expansion plans and evaluating opportunities available in Bangalore property market,” Said Anil Muthanna, a real estate agent. The population of Bangalore has increased by 35% in last seven years and is estimated to near 10 million in next two years. Due to the large scale migration and with more and more job seekers coming to Bangalore; this has opened avenues for many real estate developers to build residential and commercial properties across the city. “The biggest positive outcome of the slowdown is the sobering down of price levels. The market is tilting to becoming more buyer friendly. There was a point of time when you just couldn’t think of owning a luxurious two bedroom apartment in Bangalore but the prices have sobered down, but there is a good chance that prices will resurrect and hit the roof again,” Explains Anil. Properties priced between Rs 40 lakh and Rs 60 lakh are doing extremely well. And despite a 10% revision in price most of the builders are seeing good sales. In fact, all the property developers have commenced with their plans of expansion in Bangalore for growing residential and commercial needs. Prices had hit rock bottom last year due to slackening demand of property but according to sources it will not reduce any further now as these segments hold huge potential. Real estate builders are now developing projects for both high-end and upper middle class segments. The property market of Bangalore is expected to be vibrant by the end of this year by most of the real estate developers. Source : http://www.mybangalore.com/article/0610/bangalores-realty-sector-booming-bigtime.html Filed under: Bangalore , Builders/ Developers , New projects Tagged: Cushman & Wakefield , Real estate in bangalore

Tagged as: across-the-city, bangalore, builders/ developers, city, india, new-projects, plans, prices, real estate, retail

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Lakshmi Vilas Bank to enter home loan biz

by Paul Joseph July 1, 2010

MUMBAI: Lakshmi Vilas Bank (LVB) on Wednesday said it plans to float a housing finance subsidiary to undertake the home loan business and also raise around Rs 400 crore to fuel expansion. The bank plans to raise the funds either through a qualified institutional placement (QIP) or an ADR/GDR, either at one go or in tranches. “We plan to enter the housing finance business and also raise around Rs 400 crore for which we have obtained enabling resolutions from our Board,” the bank’s Managing Director & CEO, Mr K S R Anjaneyulu, told PTI here. With the bank growing rapidly, it would be needed funds to fuel expansion as also its branch network, he said. “Looking at the significant expansion in branch network as well as strong growth in business, LVB will require more capital to grow. That is why after having raised funds through a rights issue in December 2009, we plan to raise further capital in the cu rrent fiscal,” Mr Anjaneyulu said. The lender has already applied for 35 branch licences for which it is awaiting RBI approval, he said. At present, the old generation bank has a branch network of 274 pan—India and over 178 ATMs. – PTI Source : http://www.thehindubusinessline.com/businessline/blnus/17301875.htm Filed under: Home loans Tagged: Home loans , Lakshmi Vilas

Tagged as: bank, home-loans, housing, housing-finance

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dlf samatara shimla investinnest.com

by Paul Joseph July 1, 2010

Samatara-An exquisite , super luxury project nestled in the serenity of Shimla is designed by India’s renowned architect, Mr. Mohit Gujral. It is an exclusive development of just 24 villas spanning over 1.6 acres of thick and pristine cedar woods with picture perfect setting. The site, 6000 feet (approx.) above the sea level is your own mountain oasis with each town house providing a breathtaking view of the hills and the wilderness of the forest. The development, merely 3 KM from Shimla lift offers an un-spoilt urban sprawl connected by a motorable road. The development is with in the municipal limits of Shimla and therefore no sec 118 approval is required for Non Himachali’s to buy. Samatara is the only gated development in Shimla. * To Register, please download and fill Personal Information Healthcare Centre, Shopping Complex for Convenient Shopping, Gymnasium, Tennis Courts, Swimming Pool, Club House., A well planned spacious and covered car Parking, 100% Power Back-Up, 24 hours purified water supply, Hassle Free Property Management Service, Broadband Internet & EPBAX System(Optional), World Class Multi Level Club, Landscaped Courts and Lawns DLF Developer: DLF has a 60-year history of service excellence. Since it was founded in 1946, it has been responsible for the development of 21 urban colonies aggregating 5,816 acres, as well as an entire integrated 3,000-acre township – DLF City. DLF Homes provides a wide range of products including condominiums, duplexes, row hoses and apartments of varying sizes, with a focus on the higher end of the market. DLF has already developed 54 million sq. ft with plans of developing another 300 million sq. ft of projects across the country Call of InvestInNest.com for booking

Tagged as: country, development, india, personal, power, shopping, swimming, swimming-pool, tennis

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