builders/ developers

Omkar Realtors to redevelop Bhoiwada project

by Paul Joseph September 16, 2010 Uncategorized

The project aims at bettering not only the residents, but also the surrounding landscape with broad roads being developed, structured designs & modern amenities being offered Omkar Realtors and Developers Pvt. Ltd. , Mumbai’s leading real estate company, have started on their mission of redeveloping Bhoiwada (in Parel, Central Mumbai) and giving it a complete makeover. The project aims at bettering not only the residents, but also the surrounding landscape with broad roads being developed, structured designs & modern amenities being offered. Also asset value creation from land that lay dormant so far will be utilized. The project will empower people & residences as employment opportunities are created with the development of a community centre. With Omkar coming as a ray of hope that will brighten the lives of many, all residents are looking forward to the bhoomi poojan ceremony to be held shortly. The ceremony will be a well attended affair with the presence of dignitaries and shall be blessed by Param Pujya Bhaiyyuji Maharaj. This will be the first step towards the upliftment of Bhoiwada and all residents are looking forward to welcoming and jointly participating towards marking the ceremony as the turning point of their lives. Source: http://www.indiainfoline.com/Markets/News/Omkar-Realtors-to-redevelop-Bhoiwada-project/4931838989 Filed under: Builders/ Developers , Mumbai , New projects Tagged: Mumbai , Omkar Realtors & Developers Pvt Ltd , Redevelopement Project

Tagged as: builders/ developers, city-trends, developers, development, mumbai, new-projects, project

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DLF May Start Apartment Sales at Its First Mumbai Project Before December

by Paul Joseph September 16, 2010 Uncategorized

DLF Ltd., India’s biggest developer, may start selling residential apartments at its first project in Mumbai by December, said Saurabh Chawla, executive director for finance. The New Delhi-based company plans to develop 4 million square feet (371,612 square meters) of homes on former textile mill land in Lower Parel in central Mumbai, and may start offering the apartments this year, Chawla said. “We are waiting for all our approvals and will launch the project only when we receive all the sanctions,” Chawla said in an interview in New Delhi yesterday. “It should happen sometime by the end of the third quarter” of this financial year ending March 31. Lower Parel has emerged as an office district after defunct textile mill land was sold for commercial development. High-end residential projects such as Lodha Developers Ltd.’s World One, which claims to be India’s tallest residential tower, are being built in the area. DLF may earn as much as $2 billion from the project by selling apartments for more than 20,000 rupees ($431) a square foot, CLSA Asia-Pacific Markets estimated in a note to clients dated Aug. 25. The rush of developers to the area signals there may be an oversupply, analysts Suhas Harinarayanan, Suman Memani and Arun Aggarwal at Religare Capital Markets Ltd., said in a June note. “Lower Parel is likely to see a supply of over 10 million square feet in the next 3 to 4 years, making it an over-supply zone ” the analysts said. DLF, whose main developments are in Gurgaon near New Delhi, expects to reduce its net debt levels by 40 billion rupees to 145 billion rupees in the year ending March 31, Chawla said. DLF will earn annuity and rental income of about 18 billion rupees in the period, he said. The developer also is seeking to sell a stake in the luxury Aman Resorts chain to a strategic partner and expects to complete the transaction this financial year, Chawla said. Source:http://www.bloomberg.com/news/2010-09-16/dlf-may-start-selling-apartments-at-its-first-mumbai-project-by-december.html Filed under: Builders/ Developers , Mumbai , New projects Tagged: DLF Ltd , Mumbai

Tagged as: apartments, builders/ developers, financial, luxury, mumbai, new-projects, project

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Developers test luxury housing market potential in small cities

by Paul Joseph September 15, 2010 Uncategorized

As sales of high-end homes in large cities hit a low, developers are targeting small cities and towns Mangalore is suddenly hot property. Godrej Properties Ltd launched a luxury residential project in the city in August, each of its 245 apartments priced at Rs.80 lakh to Rs.1 crore. Raheja Universal Ltd is building a sea-front property in Mangalore in a similar price bracket. And Godrej Avalon and Raheja Waterfront are among half a dozen luxury housing projects coming up in the coastal city. “We are introducing the high-end, gated community concept in Mangalore and it’s a way to test the market and then shape up projects in other cities,” said an executive at Raheja Universal who asked not to be identified. “These aren’t very large projects, have a shorter gestation period of three to five years, and hence, are less risky.” Developers are testing luxury housing projects in small cities and towns as sales of high-end homes in large cities such as New Delhi and Mumbai have hit a low this year, largely owing to a steep rise in prices and low appetite. Luxury home sales in Delhi and Mumbai have declined since March as prices shot up by 30-40% in these markets following the rebound in the realty sector, say analysts. Pankaj Kapoor, chief executive of Liases Foras, a real estate research firm, said the average cost per apartment in Mumbai and Greater Mumbai is Rs.2 crore, and about Rs.1.97 crore in Gurgaon, a prime Delhi suburb. At least 10 developers including DLF Ltd, Tata Housing Development Co. Ltd, Omaxe Ltd and Orbit Corp. Ltd are looking to launch residences priced at Rs.1-5 crore in small cities traditionally known for budget homes or customized villas. “Having milked the luxury segment in tier I cities such as Mumbai and Delhi, developers are experimenting with smaller cities, where premium housing is still a new concept,” said Gulam Zia, national director, research and advisory services, Knight Frank India Pvt. Ltd. According to Knight Frank’s Zia, the homebuyer in smaller cities is more discerning and developers need to offer interesting value propositions to sell apartments at a premium. Aurangabad, for example, which in April saw at least 100 Mercedes-Benz cars being sold in a single day, will soon have a golf city—essentially houses along a golf course. Aurangabad is some 350km from Mumbai in Maharashtra. Some developers say sales in small cities are being driven by actual homebuyers and not so much by investors. “The demand is genuine. We are sure the Mangalore project will do well for the good location, right project size and also because supply is thin,” said Pirojsha Godrej, executive director, Godrej Properties. But developers such as Omaxe believe a chunk of the potential in small property markets comes from investors in the form of non-resident Indians. Omaxe has projects coming up in Rohtak, Baddi, Indore, Derabssi, Mullanpur and Rudrapur—all smaller cities. Shirin Bagga, an economist with research firm Boston Analytics, cautions that while small cities and towns may offer attractive opportunities for luxury projects, developers have a herd mentality and tend to rush into these markets without much thought. “Real estate firms need to go into this more slowly with the right product mix,” she said. Source: http://www.livemint.com/2010/09/14210909/Developers-test-luxury-housing.html?atype=tp Filed under: Builders/ Developers , Delhi , Mumbai , New projects Tagged: Luxury housing , Mangalore , Mumbai , New Delhi

Tagged as: builders/ developers, city, delhi, housing, knight-frank, mangalore, mumbai, new-projects, real estate

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DLF plans ultra-luxurious housing projects for the elite

by Paul Joseph September 15, 2010

DLF soon shall launch luxurious housing projects for its high end clients in Shimla, Kasauli and Goa. Sama homes as this new project series is named, shall purely be on invitation to the very elite in the society to maintain a like-minded profile of residents. On the similar name, the company shall develop 170 villas, 100 apartments and hotels across Shimla, Kasauli and Goa at an investment of Rs 500 crore under the names Samatara-Shimla, Samavana-Kasauli and Samaraya-Goa. Sama homes would be designed by Mohit Gujral, who is renowned for combining luxury with functionality, and the project would be set in lush green forests in Shimla and Kasauli, and by the sea in Goa. The hotel and villas at Kasauli would be managed by global hospitality chain Hilton, while the company is in talks with some Asian hotel chain for managing villas and hotels at Goa, sources said. Though the company has not fixed the price of villas and apartments so far, it is likely to be in the vicinity of Rs 3 crore for the Sama homes in Shimla. Source: http://www.accommodationtimes.com/real-estate-news/dlf-plans-ultra-luxurious-housing-projects-for-the-elite/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+AccommodationTimes+%28Accommodation+Times%29 Filed under: Builders/ Developers , Goa , New projects Tagged: DLF Plans , Goa , Kasauli , Shimla

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Alliance to build residential, commercial projects in Chennai

by Paul Joseph September 13, 2010

CHENNAI: Expecting a steady demand, Bangalore-based real estate developer Alliance has shifted focus to Chennai and is looking at developing projects of five acres or less to grow big in the city. “The city has a healthy mix of industries unlike Bangalore, Hyderabad which are software focused. The market will be good for us as there will be a steady demand from the people,” Chairman and Managing Director Manoj Namburu told IANS here. Besides Bangalore and Chennai, Alliance operates in three other cities- Mysore, Coimbatore and Hyderabad. “Earlier we decided not to promote projects on less than five acres. However, to reach the top in the Chennai’s real estate development market we have now decided to reverse that strategy,” he said. The group is targeting to develop around 3,500 residential apartments here. It also has plans to build commercial projects like business parks and malls. “We will rent out the commercial space so that it gives us a steady revenue stream,” Namburu said. Asked about the group financials, he claimed Alliance has around Rs.5,000 crore worth of projects and a land bank of 65 acres across the five cities it operates. Source: http://economictimes.indiatimes.com/markets/real-estate/news-/Alliance-to-build-residential-commercial-projects-in-Chennai/articleshow/6523960.cms Filed under: Builders/ Developers , Chennai , New projects Tagged: Alliance Group , Chennai

Tagged as: bangalore-based, builders/ developers, chennai, cities, commercial, new-projects, real estate

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Lodha Developers launches Lodha Supremus at Kanjur Marg

by Paul Joseph September 13, 2010 Uncategorized

These offices are designed and targeted specifically at the business community at Kanjurmarg which is primarily into high growth business segments such as IT / ITES, Import & Export and Textiles. Lodha Developers, real estate developer launches Lodha Supremus at Central Business District of Kanjurmarg, the first ‘Grade A’ boutique offices in Mumbai suburbs for growing businesses. These offices are designed and targeted specifically at the business community at Kanjurmarg which is primarily into high growth business segments such as IT / ITES, Import & Export and Textiles. On the occasion of the launch, R Karthik, Chief Marketing Officer, Lodha Developers Ltd said, “Lodha Supremus is the first ‘Grade A’ office development catering primarily to growing business like IT, Advertising, Manufacturing. Such companies desire a business address that that exudes stature and further enhances their image and business growth. With its contemporary façade, best in class facilities and professionally managed security, parking and maintenance, Lodha Supremus is specially devised to meet the needs of growing businesses.” Lodha Supremus at Kanjurmarg is the third such project by Lodha Developers following the overwhelming response to its previous launches – Lodha Supremus at Worli Naka and Upper Worli. Both projects are sold 90% and 40% respectively. Commenting on the success of Lodha Supremus, Mr. R Karthik said, “With India’s growing economy, this is one of the faster developing segments with a business potential of 10 to 20 lac square feet.” Lodha Supremus at Kanjurmarg boasts of an excellent location. It is located adjacent to Kanjurmarg railway station, off the 8-lane Jogeshwari-Vikhroli Link Road, very close to the Eastern Express highway, and business hubs of Powai, Mulund and Ghatkopaar. Lodha Supremus is easy to reach by road and rail, from virtually any part of the city – north, south, central and even Navi Mumbai. Its unique location quickly connects it to both, the Eastern and Western Express Highways. And with the completion of the first phase of the Metro rail, Lodha Supremus will have excellent rail connectivity to the western suburbs too. Not surprisingly the elite of the corporate world – HDFC Bank, Sandoz, Aker Solutions, Hafele, Sharekhan and other large corporations – are already located in the neighborhood. It has a unique floor plan. Each floor has a flexible plan that can accommodate offices ranging in size from 2000 sq. ft. to 4000 sq. ft. The total development potential for the project is 2.5 lac square feet. This office development project will provide world class facilities including club house, ample parking, best in class infrastructure, 100% DG backup amongst others. To summarize, centrally located, intelligently designed, world class in aesthetics and amenities and with flexible office sizes, Lodha Supremus at Kanjurmarg offers growing businesses an unmatched opportunity. Source:http://www.indiainfoline.com/Markets/News/Lodha-Developers-launches-Lodha-Supremus-at-Kanjur-Marg/4926822824 Filed under: Builders/ Developers , Mumbai , New projects Tagged: Kanjur Marg , Lodha Builders & Developers , Mumbai

Tagged as: builders/ developers, business, developers, lodha, office, real estate

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Why buyers prefer ready-to-move-in houses?

by Paul Joseph September 13, 2010 Uncategorized

Buyer and investors want to play it safe these days. What with the downturn hangover still persisting, plus the fact that even reputed builders deliver project at a minimum six to seven months past the promised delivery date, the perception of the current buyer is to invest in ready-to-move-in rather than launched (on paper) projects. According to Jeevan Khanna, who is exploring options for a second home for investment purpose in Delhi NCR, “In the current market scenario, I would not invest in any project which is either under construction or planned on paper, irrespective of the builder behind it. At this moment, I would rather invest in a project that is ready to move in, even though it may offer a lesser return. The projects which are under construction are bound to suffer delays because of the liquidity available in the market.” Ask real estate consultants about buyers’ perception in the just-launched projects or projects under construction and they reiterate that ready to move in properties win favour easily than projects under construction. According to a Gurgaon based broker, “Financiers are going for projects under construction whereas end users are only headed for either ready-to-move-in or 80% constructed projects – the latter too only with top builders. Even with them, it’s a given that there will be some delay in the project. In general, even though the values may have escalated, the market sentiment remains skeptical.” The broker adds that the final price at which a deal is closed for ready-to-move-in apartments depends on the urgency to sell by the seller. If there is an immediate need to encash that asset and the seller is quoting Rs 4,100/sq ft, he may even end up settling for Rs 4,000/sq ft whereas, if he is in no hurry he may well negotiate at even Rs 4,600/sq ft. Cost is transparent and spelt out in beginning The other reason for the preference for ready-to-move-in property is attributed to the cost being transparent and spelt out in the beginning. The consumer can visit the property and determine the viability of investment as well as avail tax exemption in a ready flat. However, developers argue that if a project under construction offers an escalation-free price for the apartment, penalty clause for delayed delivery by the developer and construction-linked payment plan then the buyer gets a distinct price advantage as compared to a ready-to-move-in property. Rajeev Rai, vice-president of Assotech , says: “Buyers mostly decide on the basis of what will be the monthly payout in the form of EMI vis-a-vis the monthly rent being paid to the landlord. If the buyer is convinced about the developer’s ability and financial capacity to deliver an under-construction property as per schedule, he will definitely wait for the project to get completed. If the buyer is convinced with the considerable construction progress on a periodic basis, his perception about the developer remains positive.” Buyers view projects under construction with skepticism There is no doubt that the buyers view projects under construction with skepticism . As pointed out by Debobroto Banerjee, working with a leading multinational in Gurgaon: “Given that all the major property developers are going bust and are scrambling to get money to finish their projects, is there any foolproof manner to assess their financial ability and, more importantly, commitment to complete the project and within schedule?” He analyses that even though in a ready-to-move-in property, the flip side is, that the property may be priced over a similar property under construction . “Also , it may offer lesser flexibility to make structural changes to suit one’s choice; still, I am inclined towards it primarily because of the current situation where there is increased uncertainty on projects eventually getting finished on time, if at all. At least, one is assured of possession and there is clarity on the total amount one is paying and you can work my finances accordingly.” So, ready-to-move-in property win favour hands down with the actual buyer even though he has to shell out a premium for being sure of the exact unit, the exact cost and the exact location Source:http://economictimes.indiatimes.com/quickiearticleshow/6536159.cms Filed under: Builders/ Developers , New projects Tagged: Delhi NCR , Real estate in india

Tagged as: builders/ developers, buyer, current, developer, financial, market, new-projects, project, property, real estate in india, seller

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Manjeera launches major mixed-use project in Hyderabad

by Paul Joseph September 8, 2010 Uncategorized

Manjeera Constructions Ltd, on Monday, unveiled plans to develop a Rs 600-crore 1.8 million square feet of office, commercial cum residential mixed use project, on the busy Kukatpally-Hitec City corridor in Hyderabad. The project, Manjeera Trinity, is being part funded through foreign direct investment (FDI), made by Trinity Capital in to the project. Trinity Capital has infused Rs 80 crore as its equity, picking up about 49 per cent stake in the project. “We have achieved financial closure for the project. Of the Rs 600 crore, the project will have an equity component of Rs 150 crore and the rest will be through debt. As we take up the project, we will also secure advances from the potential buyers,” said G Yoganand, chairman, Manjeera Constructions. Addressing a press conference to announce the company plans, Yoganand said that of the 1.8 million sq ft of built-up space, about 9,00,000 sq ft will comprise commercial space developed on a 19-floor tower, another 4,50,000 sq ft would be commercial space for malls and multiplexes and the rest will be in the form of luxury living spaces. “We have passed through a tough phase of the real estate business and there are signs of revival. There is a shortage of quality commercial space at strategic locations. Enquiries for commercial space from prospective buyers show that there is demand to lap up properties at good locations. The property we have acquired from the AP Housing Board in 2006 is well placed to cater to such demand,” he said. “The company has so far developed about three million sq ft of built-up space, spanning residential, commercial and hospitality projects. We have another five million sq ft of space in pipeline, including Trinity project,” he said. The company has also launched a ‘Price Guard’ scheme, that protects buyers from the downward slide of prices beyond 5 per cent. It is also offering property management services through PropServ, for its customers in India and abroad. Source: http://www.realtyplusmag.com/rpnewsletter/fullstory.asp?news_id=10104&cat_id=1 Filed under: Builders/ Developers , Hyderabad , New projects Tagged: Hyderabad , Manjeera Constructions Ltd

Tagged as: builders/ developers, city-trends, constructions, estate-business, housing, hyderabad, new-projects, project

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Spaze offers Commercial and Residential spaces in Gurgaon

by Paul Joseph September 8, 2010 Uncategorized

Gurgaon is a city that has been growing leaps and bounds over the years, and has not realized its full potential yet. And, with the growing prospects for development and advancements like the metro rails making headway into the city. Gurgaon has been the center of attention for the past few years, and it doesn’t seem to be slowing down anytime soon. The boundless potential for growth that this city holds is evident, and being appreciated by one and all. Fittingly, it has been christened the Millennium City by the people, who are coming in hordes to grab a piece of the excellent opportunities it offers. The tremendous prospects of this city are extended to the commercial as well as the residential sectors, with excellent real estate Gurgaon infrastructures for both. Spaze Towers Pvt. Ltd. is a leading organization engaged in the field of real estate Gurgaon development, with many successful projects under its belt. It has also commissioned successful ventures that were aimed at the growth of retail, hospitality, IT & housing sectors. The objective of these projects is to provide world class amenities to the masses at the most cost effective prices without making compromises on the quality. And, with the overall infrastructure of the city developing day by day, it’s no wonder that this city has become a favored destination for many companies. From a commercial viewpoint, Gurgaon is the most important destination for all foreign and domestic organizations. Numerous MNCs have set up camp in this city and, quite obviously, require commercial property, and they have Spaze to their rescue. Spaze Corporate Parkk, Spazedge, Platinum Tower, Palazo, Business Park & Boulevard have been constructed keeping in mind the trade oriented requirements of firms. Even for companies looking for IT office space, Spaze has a project, called the Spaze Techpark, an IT Park, which is highly popular with the organizations. And, for those looking to search apartments in Gurgaon and redefine how people see living as, then the firm offers them Spaze Privy, which are state of the art homes in the most strategic location. These AC apartments are designed by international designers and are equipped with amenities like: • 100% power backup • 24 hour surveillance system • Multilevel security • Clubhouse • Swimming pool • Recreation centre • Modern elevators Both types of real estates, new apartments and office, are an excellent investment options and offer complete value for money. Whether you use it for your own requirements or give homes and office for rent, this investment would be an avenue for the wise. With the metro connecting the city with the major centers like New Delhi, Noida and, soon, Faridabad, the opportunities for this city will only grow, thereby providing assured return property. Source: http://www.i-newswire.com/spaze-offers-commercial-and-residential/58323 Filed under: Builders/ Developers , Delhi , New projects , Noida Tagged: Commercial Properties , Faridabad , New Delhi , Noida , Residential Properties , Spaze

Tagged as: builders/ developers, business, city, city-trends, delhi, new-projects

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