DLF, India’s largest real estate company, has put on hold its plan to sell its non-core assets including ultra-luxury hotel chain Aman Resorts and wind energy business for the next three quarters, said Rajeev Talwar, MD at DLF Developers In July, the realtor had indicated that it plans to raise around `2,500 crore in the next 15-18 months by selling its non-core assets. The firm had raised around `290 crore for the quarter-ended June through sale of land parcels. “Properties assume different prices at different times. Since prices in the real estate sector have started firming up, we have deferred our divestment plan for three quarters. We will rather wait for the right market condition,” said Mr Talwar. Reasons for holding onto the two business are different. “The valuation of our wind energy business was high so we decided to wait. In case of Aman, we want to check how the travel industry fares before selling our stake in it,” he said. DLF saw improved cash flows from operations in the past few months in the backdrop of recovery in the realty space. With commencement of construction of many projects, the cash flows are expected to improve further. The builder saw its total debt increase 25% to `18,463 crore during the June quarter due to the acquisition of debt-laden DLF Assets. For DLF, the average cost of debt came down to 10.5% in June 2010 from 11.9% in December 2008. The firm said it will continue to use all free cash flows to reduce debt. Recently promoter billionaire KP Singh picked up 92% stake in its wholly-owned retail subsidiary DLF Brands through fresh issue of shares for around `92 crore, by which DLF Brands ceased to be a subsidiary of DLF.

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Abus Security Center, a wholly owned subsidiary of Abus Group of Germany plans to tap India’s booming realty and hospitality sectors. The mechanical and electronic security technology company has already tied up with Bengal Peerless Housing Development Company and Calcutta Medical and Research Institute (CMRI) for providing security solutions, said Philippe Bremicker, managing director, Abus Security Centre. “The complete security solutions market in Germany alone is estimated to be Euro 2.6 billion. Given India’s population, particularly the size of its middle class, we expect this market in India to be much larger,” he said. Abus products include video and IP cameras, digital recorders, PCI monitoring cards and wireless alarm systems. The company has tied up with Eastern Institute of Integrated Learning in Management for market research and product rollout. Bremicker said the company is starting its Indian journey from Kolkata but would soon spread wings across the country.

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BPTP has announced the launch of its new residential project — Park Arena — in Faridabad. Starting at a base price of Rs 2,750 per square feet, Park Arena is spread over approximately 10.5 acres of land, and is a sports theme based group housing offering a range of 2 BHK, 3 BHK and 4 BHK (Duplex) apartments, according to a company press release. Park Arena is located in Parklands — the signature BPTP integrated township in Faridabad spread over approximately 1,415.49 acres of land with saleable area of 57.99 million sq ft. Parklands comprises residential plots and independent floors, villas, high and low rise group housings, convenience commercial complexes, IT park, IT SEZ along with other social infrastructure like clubs, hospitals, schools, police post and places of worship. The project is in proximity to the existing NH-2 (Delhi-Agra) as well as the upcoming Faridabad-NOIDA-Ghaziabad expressway which will connect Faridabad, Noida and Ghaziabad. Commenting on the launch, Amit Raj Jain, senior vice president (marketing), BPTP Ltd, said: “As modern lifestyles change, consumers are consistently seeking newer and better experience. This reflects in every aspect of their lives, most importantly in their choice of homes. Park Arena is our latest innovative product for our customers and will usher in the concept of theme based housing in the NCR region.” Park Arena features sports shops with modern equipments, a gym, spa, indoor and outdoor pool and a health food outlet. Park Arena also features a tennis academy with tennis court, cricket nets, multiple golf putting range and basketball courts.

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Ahmedabad-based Dharmadev Infrastructure is planning to foray into commercial realty market in Mumbai. The company will come up with ‘Swaminarayan Mall’ in Malad. The company has already acquired land for the mall and is in the process of acquiring various permissions, according to a report published in DNA. “This is a commercial complex-cum-mall, which will be developed on 2 lakh square feet land,” said Umang Thakkar, chairman and managing director of Dharmadev Infrastructure. The proposed mall will be located just outside Malad station. “We want to develop it purely as a commercial centre without mixing it with entertainment and other things,” he said. One of the most important features of the mall will be parking space. The company plans to allot two floors in cellar for parking. Dharmadev Infrastructure is planning to invest around Rs 50 crore in this project. The construction work is expected to commence within two months and it will take around two years to complete the project. Comparing the real estate market in Ahmedabad and Mumbai, Thakkar said the two markets are completely different and hence, they have forayed into Mumbai’s commercial property market. “In Ahmedabad, residential sector is booming, while in Mumbai both segments, residential as well commercial, are witnessing good growth and it is likely to continue in the future too,” he said. Dharmadev Infrastructure is a well-diversified group with its presence in residential, commercial, industrial property development as well as hospitality sectors.

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Sobha Developers announced the launch of a super luxury project — Sobha Classic — on Sarjapur Road in Bangalore, that would develop 243 units across 6.9 acres. The apartments will range from 1,752 sq ft to 2,070 sq ft priced between Rs 76.71 lakh and Rs 90.10 lakh, a company press release said. The project is expected to be complete by December 2013. The project will include amenities such as a fully-equipped clubhouse with gyms for weight training and cardio, swimming pool, steam room, billiards, table tennis, carrom, jogging track, half basket ball court, rappelling wall, meditation room and two community halls (indoor and outdoor), it added.

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Increasing property prices make terra firma a super-luxurious commodity in Chennai real estate . This is factual not only for the plots or apartment and developed flats; even the commercial rates are rocketing. Chennai property is observing a 20-30% augmentation in commercial real estate rents. Most important commercial regions similar to Perambur and Pattalam, where the average space available at 300-650 sq ft for commercial property renting in Chennai property. Although in Chennai real estate, there are various regions in line of commercial space such as Royapettah, Vyasarpadi, Girugambakkam and so many. This development was simulated in other commercial regions approximating Velachery colony and Tambaram too. Here where the lease shot up to Rs 5,000-12,000 per sq ft from Rs 4,000 – 6,000 per sq ft. This has principally been activated by the constructive markets and growing trade actions that are illustrating working inhabitants to the city. To sum up, if we pay attention on the commercial value of the properties in Chennai , we find at present, standard real estate price per sq ft in Chennai for Plot is Rs 5,683 while for Offices it is Rs 8,333. Common real estate price in Chennai for Shops is Rs 9,720. Standard real estate price for Plot is Rs 17.46 Crore while for Offices it is Rs 9.73 Crore. Common real estate charge in Chennai for Shops is at about Rs 3.72 Crore. You can clear the commercial value among all properties in Chennai by seeing the chart-

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If buyer is seeking into investing their era and wealth into a hire property in Bangalore , there are handful things investors will desire to think. Create certain investors fully appreciate what they are accessing before they formulate the thrust. Do their investigation and take their era. There are numerous things to investigate in Bangalore property. Hollow out into the real estate history and discover if it has been victorious, or why preceding occupants preferred to depart. Inspect real estate management software, how renters will disburse hire, how they will accomplish preservation demands, and how much of their time running the real estate in Bangalore may obtain. Repeatedly times hire properties may be actually inexpensive but in the extensive run end up pricing buyer more time and cash on the difficulties that exterior. Era and wealth are costly as a real estate manager and those unseen dilemmas are not value either their money or time. The vicinity where the Bangalore real estate is positioned can provide investor some information. Observe if the environs have a lofty felony rate that could stay probable occupants from picking their real estate. Converse with the regional neighbors and obtain a feel for the society to observe what their opinions are about the Bangalore real estate. Properties in Bangalore in the multifamily accommodation business will sprint much enhanced through good real estate management software. Find a real estate management system that will convene the precise wants of their real estate in Bangalore.

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NEW DELHI: State-owned Allahabad Bank today said borrowers will get an interest concession of up to 1 per cent on loans during the festival season, which it hopes will attract new customers. While the interest rebate offered by the bank on housing loans under the floating rate scheme varies from 0.25 per cent to 1 per cent, new borrowers taking out loans under the fixed rate scheme will get a concession of 0.50 per cent to 1.75 per cent for a limited period, Allahabad Bank said in a statement. At present, housing loans up to Rs 50 lakh at a floating rate are available at 10.25 per cent interest for a period of 15 years, while fixed rate loans of the same maturity and amount are available at 12.5 per cent. The announcement comes days after a few banks, including Punjab National Bank, launched a festival bonanza for their customers. PNB has offered floating home loans at a fixed rate of 8.5 per cent for three years. At the same time, Allahabad Bank has also reduced the interest rate on car loans for new vehicles by 1 per cent, it said. Under normal circumstances, the Kolkata-based lender provides car loans at an interest rate between 10.5 and 11 per cent. The saral loan scheme, personal loans for doctors and pensioners and housing loans for furnishing will also get a rebate of 1 per cent, it said. The concessional offer is valid from September 1 to December 31, 2010, it said. The special festival offer will encourage customers, especially from middle and lower income groups, to avail credit at reduced interest rates to fulfill their requirements during the festival season, it said. Meanwhile, Allahabad Bank has been conferred with the national award for excellence in MSE lending for 2009-10 instituted by the Ministry of Micro, Small and Medium Enterprises (MSME). The award was received by Chairman and Managing Director J P Dua from the President of India yesterday. The award reinforces the bank’s commitment and consistent contribution to overall economic development of the country through faster growth of MSMEs and other priority sectors, Dua said. Source: http://economictimes.indiatimes.com/personal-finance/loan-centre/home-loans/Allahabad-Bank-offers-festive-season-rebate-up-to-1-on-loans/articleshow/6475075.cms Filed under: Home loans Tagged: Allahabad Bank , Home loan interest rates

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While residential properties are demanded and priced higher than commercial ones, real estate developers in Ahmedabad feel demand for the latter is likely to rise again. According to developers, factors like improved market sentiments and better economy is resulting in rise in demand for commercial properties. However, in commercial properties, while the demand for shops is likely to remain stagnant, it is the office space that is likely to see more deals in the near future in Ahmedabad. “Shopping and consumerism has yet not picked up in Ahmedabad. On the contrary, there is a growing demand for office space. Not only new offices are being demanded but the areas are also growing. Unlike in the past when most of the office space was concentrated in central business districts (CBDs) like Ashram Road and CG Road, nowadays office space buyers are preferring other areas like Prahladnagar, SG Highway, providing more scope for developers to build such properties,” says Vijay Shah of M/s Vijay Shah, a real estate development firm. As per a recent report by Jones Lang LaSalle India (JLL), while the western central micro market that includes locations like CG Road, Ashram Road, Prahladnagar, Bodakdev, Vejalpur, Vasna, Satellite, Thaltej, Sola and Science City Road has witnessed average capital values at around Rs 3,000-5,500 per sq ft, western suburbs like Bopal, Ghuma, Shela, Shilaj, and Sarkhej-Sanand Road have witnessed it around Rs 2,500-3,500 per sq ft, indicating healthy deals in these micro markets. “So far Ahmedabad saw more deals in residential while office space was limited. But now many properties are coming up on SG Highway. Enquiries with JLL for office space have also begun increasing. Recently, a multi-national IT firm which has a Pan-India presence was also looking for office space in Ahmedabad. The growing demand for commercial properties especially in office space can be attributed to both improved market sentiments as well improved quality of supply,” says Kripal Singh, manager – strategic consulting, JLL India. Even the eastern part of the city has also begun witnessing a growth in demand for commercial properties. According to Babubhai Vora, president of Ahmedabad (East) Builders’ Association (ABA), the association’s recent property show saw around 400-450 different residential and commercial schemes that were displayed receiving ample enquiries. Meanwhile, Jaxay Shah, director of Savvy Infrastructure Limited feels the rise in prices of properties by 20-30 per cent as well as post-recession optimism is likely to attract more builders towards offices spaces. Source: http://www.business-standard.com/india/news/demand-for-office-spaces-to-grow-in-ahmedabad/406624/ Filed under: Ahmedabad , Builders/ Developers , Serviced apartments/offices Tagged: Ahmedabad , Commercial Properties , Jones Lang LaSalle India

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The fortunes of Ghaziabad have seen many ups and downs in the past, quite similar to the changing fortunes in a person’s life. While it has been a big industrial town of Western UP for long and close to the national capital, it could not match the rapid progress of Gurgaon and Noida. While they latter two made huge strides in infrastructure development and in attracting industries and investments over the years, Ghaziabad is only now trying to catch up with its more famous NCR counterparts. In any case, it is still an ideal place for all those who don’t have a generous budget to buy a house. If you are a salaried person looking for a decent home, then this town will not disappoint you. There are enough options for all those who are ready to buy houses in the range of Rs 25 lakh to Rs 30 lakh. Recently, we set out on a search mission for a property that fits the bill of people with a modest budget to spare for a house. There are certain pockets in Ghaziabad where you can get a good deal in Rs 25 lakh or a little more. The only thing is that one has to be very careful while going for these properties. Obviously, the property coming that cheap has some pitfalls also. In Sector 6 Vasundhara, you can get a 2-bedroom house (around 800 sq ft) for as low as Rs 24.5 lakh. The only negative point is that these flats are builder flats. Though the agent tells us that they all come equipped with pumps, etc, we have to be extra careful before going for the kill. The locality is no doubt good. Problems that persist in the area are power cuts and water availability. One can also get a plot in Karhera village on Loni road at Rs 6,000 per sq yard. The place is not developed as yet but people who want to invest for the future use can probably look at the option. Earlier, it was the agricultural land but now the plotting has started in the village. If you want to go further down the road from Karhera on Baghpat Road around 15km you can get plots in that price range at Tronica City. However, the only problem as of now seems the distance and that these places are not developed as yet. But who has ever thought of living on NH 58 or for that matter NH 24 – so, keeping the future in mind one can go for the investment. However, the caveat is that one should properly check all the necessary papers before going for a deal. Meanwhile, in Ghaziabad, you can also consider Raj Nagar Extension for your abode. It is on NH 58 in Ghaziabad and around 10km from Indirapuram and 15km from Delhi border. Samir Jasuja of PropEquity says that Raj Nagar Extension is turning out to be a bastion of affordable housing. Over one dozen developers, including SVP, Techman, Ajnara, Landcraft, KDP, SG Estates, Ashiana, Shree Energy, Quantum, Devika, ACC, Ascent and NCC Group are developing their projects here. All these developers are working together in order to develop Raj Nagar Extension in a big way. They have also formed an association that is working collectively towards the integrated development of this area. “We wanted to make sure that the people get infrastructure when they move in here. As this area is off the main road, Meerut bypass, the need is to give it a facelift and make it look like a posh locality,” says Sunil Jindal, CEO of SVP Group. This association is also working to set up a communication centre, which will disburse information about the developments in the area. They are also working to develop a website for the area. However, Ghaziabad-based journalist Ravi Arora cautions the would be buyers of flats in Raj Nagar Extension to be very careful while taking a final call in sealing a deal. “We have seen in the past that developers make all promises only on brochures and they fail to implement them in the actual projects,” Ravi Arora concludes. Ashok Gupta, MD of Ajnara Group, says that the location of this place also makes it a soughtafter proposition. From Delhi if you are moving towards Meerut, you have to take the road on your left as soon as you cross the Hindon river. This road has been recently developed and gives you a feel of the kind of society this area will attract. Imagination gets a boost once you see work on the GD Goenka International School going at a hectich pace on this road. A girl’s hostel, a vocational college and a training institute have also been announced in the vicinity of Raj Nagar Extension. The area will be connected through a six-lane expressway connecting GT Road with NH 58, which eventually goes straight to Dehradun via Meerut. Further, the proposed flyover and road from Hindon airbase will offer express connectivity to Delhi via Wazirabad. As per the latest policy development, the proposed Delhi-Haridwar highway will also pass through Raj Nagar Extension, further enhancing connectivity of the area. Raj Nagar Extension offers houses ranging from a 1BHK for Rs 12 lakh to a 3BHK for Rs 40 lakh. Apartments are being sold at the rate of Rs 1,750-1,950 per square feet. But, there is a rider – as developers started their projects only lately, you will the delivery of your home only after two-three years. So, if you can wait for this much of time then you must consider it. Source : http://content.magicbricks.com/affordable-housing-hub-ghaziabad Filed under: Builders/ Developers , Delhi , New projects Tagged: ACC , Ajnara , Ajnara Group , Ascent , Ashiana , Devika , Ghaziabad , KDP , Landcraft , NCC Group , Quantum , SG Estates , Shree Energy , SVP , Techman

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