industry

Small steps towards transparency in 2011

by Paul Joseph December 29, 2011 Uncategorized

The government seems to have woken up to the crisis in the real estate market by introducing a couple of draft Bills and some regulations. However, it still has a long way to go To not get defrauded of your money you saved up for a house, to own a house free of title disputes or to get a clean deal are simple rights that any homebuyer would like to exercise. Unfortunately, in the largely

Tagged as: article, china, copyright, crisis, friends, gadget, government, india, indian, industry, infrastructure, real estate

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Housing Sector will face Funding Gap of USD 70 billion in Next 5 Years: CREDAI

by Paul Joseph July 25, 2011

The Confederation of Real Estate Developers’ Association of India (CREDAI), an apex body of organised real estate developers in the country, has estimated that the sector will face a funding gap to the tune of USD 70 billion over the next five years. CREDAI President Lalit KumarJain said such a situation might create hurdles for the industry to grow if the Reserve Bank of India is not “proactive”. “The housing that is required in the current Five-Year Plan is 24.6 million and it is 37 million in the next Five-Year Plan. We require USD 3.2 trillion (to meet the target). Funding gap in housing will be around USD 70 billion in the next five years. The USD 70 billion is among the current developers only,” Jain told PTI. He was speaking ahead of the third edition of theNational Association of Realtors (NAR)-India Convention 2011, a two-day convention and exposition set to begin here today. “Foreign investments do not solve the problem. They are very costly and cannot be affordable. There has to be generation of funds internally and RBI has to be proactive on this issue,” Jain added. He said any FDI into the country would expect a 30 per cent return on investment, which is not possible in real estate projects and hence not advisable. The RBI only allows real estate companies to tap external commercial borrowings (ECBs) for township projects spread over a minimum 100 acres of land, Jain said, adding that small players cannot go for ECBs.

Tagged as: current, industry, meet-the-target, projects-spread, property prices, pune, real estate, real estate developers

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Property fluctuation in India

by Paul Joseph June 23, 2011 Uncategorized

The development of the realty industry in India has observed a wonderful change. It has become an in truth money-making industry by reason of globalization of Indian industries. India real estate is the large size colonized country in the earth. The want for refuge for such a bulky population has as well contributed in the stretched scope of this industry. Later than the introduction of the policy of liberalization, globalization, privatization the Indian companies has completed an optimistic impact in the worldwide marketplace. The highest companies of the globe desire to step their root in India also. The requirement for land to such a mammoth population and the industries has developed the real estate business. Along with the new data’s Indian market is on the 9th position in the middle of the world bazaars. The Indian property market is increasing at the price of 30% per annum continuously. The employment and investment in the real estate business of India has gone to the subsequently level within the last decade. The favorable policies of the government of India have as well sustained the property market in India . The places near to the metro cities are flattering the major investment points for the realty companies of India. The introduction of particular financial regions commonly well-known as SEZ by the government of India has also resulted in the development of real estate market in those rustic vicinities which were former oblivious about it. The overseas property companies are immensely concerned in the property market of India since there is mammoth capacity in Indian markets . The requirements of the populace have changed along with the change in culture. The malls and flat culture has occurred in the minds of Indians. The wants for terra firma for such malls and other contemporary commercial complex has elevated the stipulate of big terrains in metro cities over and above in rural vicinities.

Tagged as: contemporary, earth, globalization of indian, india, indian companies, industries, industry, money-making industry, real, real estate, real estate business., realty, realty industry in india, rural vicinities

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Real Estate Agent Arrested for Occupying Properties of NRIs

by Paul Joseph May 23, 2011 Uncategorized

Police have arrested a 46-year-old businessman, currently on bail in a cheating case, for allegedly usurping properties belonging to non-resident Indians through forged documents. Dheeraj Singh, who owns D S Industry and Himland Real Estate Pvt Ltd in Punjab, was arrested from Chandigarh, police said. The arrest came after Surinder Malhotra complained to police that Singh and his brother Ram Niwas had forcefully taken into possession a property in Green Park belonging to Raj Rani, who is presently residing in the UK. During the course of investigation, the team visited the alleged property several times but the same was found locked. It was also found that electric connection there was obtained on forged documents by accused Ram Niwas. “A copy of Receipt-cum-Possession Letter was also obtained from the Saket Court which revealed that signatures of one witness and landlady were forged. Intensive search to locate accused Dheeraj Singh and Ram Niwas was made and it was found that both had earlier been arrested in December 2010 for cheating crores of rupees of Punjab National Bank, Chandigarh branch, in connivance with the bank officials,” said Chhaya Sharma, Deputy Commissioner of Police, South. Both accused had been released on bail from Bural Jail in Chandigarh, she said. During interrogation, Singh disclosed that his wife Mamta Chaudhary also runs a company in the name of Asia Himalaya Overseas in Punjab. Sharma said the accused used to visit foreign countries, especially UK and befriend Indians there either by staying with them or by making contracts with them on the pretext of his companies. “He used to collect information about their properties in India. After getting complete details of the properties, he selects vulnerable victim like old NRIs who rarely visit India but having opulence properties in India,” she said. After that he along with co-accused prepares forged documents of the targeted property of NRI and usurps the same. Singh is highly qualified and well versed in computer. Recently, he undertook the project of developing the land and constructing the flats at Baddi, an industrial area in Himachal Pradesh and collected huge amount from the NRIs for this projects.

Tagged as: chandigarh, chhaya-sharma, deputy, from-the-saket, green, himland-real, india, industry, project, properties, punjab-national, real estate, real estate developers, wife

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Real Estate Most Preferred Choice for Investors in Haryana: Assocham

by Paul Joseph May 20, 2011

With Gurgaon, Sonepat , Faridabad and Panchkula humming with commercial and residential building activities, the real estate emerged as the most favourite sector for investors in Haryana in 2010, an Assocham study said. Of the total investment of Rs 4.3 lakh crore under implementation, real estate accounted for Rs 2.4 lakh crore, it said. “Real estate industry got the lion’s share of 56 per cent of the total live investments,” the industry body said in its strategy paper on investment in the state. It said Rs 2.4 lakh crore were invested in major cities like Gurgaon, Manesar and Faridabad. “Bulk of investments were in Gurgaon, which is a critical hub of 500 companies with their back end operations here,” Chairman of Assocham’s northern region development council Lalit Khaitan said. Besides Gurgaon, private builders are active in developing and selling real estate in the NCR towns of Sonepat, Faridabad and Bahadurgarh. Panchkula near Chandigarh is also witnessing real estate boom. He said the state government needs to come up with policies keeping in mind issues like sanitation, environment and civic maintenance, so that the investments remain attractive in the long run. Services and electricity were the other destinations of investment, it said. “Services and electricity attracted 25.2 and 13.5 per cent investment, respectively,” the paper said. The overall investments grew by 20.3 per cent over last year’s Rs 3.5 lakh crore, it added. Khaitan said the major problem in the growth of the state is power. He said: “Power and land acquisition are among major impediments. Acquisition of land should be between buyer and seller. The land must be sold at market price and it should not be an agricultural land”.

Tagged as: besides-gurgaon, delhi, industry, lalit-khaitan, like-sanitation, northern-region, property prices, real estate, real estate india, real estate trends, said-the-state, sold-at-market, state, total

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Govt to Take Decision on FDI in Multi-Brand Retail Soon: Confirms Scindia

by Paul Joseph May 19, 2011

The government is expected to take a decision in the next three months on allowing foreign direct investment in multi-brand retail, a long pending issue, a new National Manufacturing Policy creating an investor friendly environment is also likely, Minister of State for Commerce and Industry Jyotiraditya Scindia said today. “We are committed to the issue on FDI in retail…I think over the next quarter you will see a decision and an announcement on both the issues,” Scindia said at Export Promotion Council for EOUs and SEZs award function here. A cabinet note on FDI in multi-brand retail has already been circulated by the Department of Industrial Policy and Promotion (DIPP), which had earlier come out with a discussion paper on the politically sensitive issue. According to sources, the government would allow the foreign retail giants with riders which include a minimum investment of USD 100 million, half of which must go to the back-end infrastructure like cold storage, soil testing labs and seed farming. At present, India allows FDI only in single brand retail chains like Nike , Louis Vuitton with a cap of 51 per cent. It also permits 100 per cent overseas investment in wholesale cash-and-carry format. Several of the big chains like Wal-Mart and Carrefour have set up their joint ventures in India, waiting for their full-scale entry into the multi-brand retailing. The proposed manufacturing policy aims to help attract overseas investments besides increasing the share of manufacturing in the economy. India aims at increasing the share of manufacturing sector, which contributes over 80 per cent in the country’’s overall industrial production, from 16-17 per cent to 25-26 per cent of the gross domestic product by 2020. On concerns over imposition of minimum alternative tax on special economic zones, Scindia said: “We are in discussion with the finance ministry. We hope to have a sympathetic hearing, so that we can ensure that there is a stable policy regime going forward”. On the exporters demand for the continuation of tax benefit scheme -DEPB, he said “we will ensure that…exporters are incentivised to be able to reach our target of USD 500 billion by 2013-14″. The Duty Entitlement Pass Book (DEPB) scheme for exporters would end on June 30.

Tagged as: continuation, government, hyderabad, industry, kolkata, real estate, said-at-export

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EWDL Plans to Raise Rs 500 crore through IPO

by Paul Joseph May 19, 2011

Indore-based Entertainment World Developers Ltd (EWDL), a leading mall developer in tier-II and III cities, plans to raise up to Rs 500 crore through an initial public offering (IPO) in the first quarter of FY13. The company has already filed a red herring draft prospectus (DHRP) with the markets regulator and will use the proceeds to develop more malls in smaller cities and towns, where demand for organised retail is growing rapidly. “We plan to hit the capital markets in the first quarter of the next fiscal. We have recently filed the DHRP, but we plan to have the public issue next year, by which time the company will attain a scale in terms of revenues and number of malls. We are looking at a 30 per cent dilution (of stake),” EWDL managing director Manish Kalani, said. The merchant bankers to the issue are ICICI Securities, Kotak Bank and Edelwiss, he said. The proceeds will be used for construction of ongoing projects and to buy back some of the convertible debt issued by a unit to funds run by ICICI Venture and Mumbai-based high-street mall developer Phoenix Mills, which owns a 40.3 per cent stake in the company. EWDL, which is also developing residential townships in smaller cities, plans to open 10 more malls by the end of this fiscal. Of these, five malls are under various stages of development and will open this calender year, EWDL CEO Arif Sheikh said. “We are doing extremely well in smaller cities due to our first-mover advantage and secondly, due to the 100 per cent lease model. The model is yielding good bottom-line for our retailers, whereas in the sale model, it adds to the top-line,” Sheikh said. EWDL is the only retail real estate developer in India that works on a 100 per cent lease model, meaning they only lease out and don’t sell the space, he added. The new malls will come up in Raipur, Jabalpur, Bhillai, Indore and Chandigarh with a total area under operation of 25 lakh square feet. At present, EWDL has three shopping malls, two in Indore and one in Nanded, with total area of 15 lakh square feet. The company devotes around 30-40 per cent of its total space in a mall for an entertainment and gaming zone, Sheikh said, adding that an area of around 1 lakh square feet has been used to set up a roller coaster in the upcoming mall in Raipur. With anchor retailers such as Big Bazaar, Max and Pantaloons, EWDL ties up with regional brands rather than national or international ones in smaller cities, which according them, is another reason why their malls have a good IRR of 27 per cent against the industry average of 19 per cent. The group is eyeing a consolidated revenue of Rs 700 crore in FY12 as against Rs 400 crore in FY11. It also plans to double its mall portfolio in the next 5 years.

Tagged as: convertible, entertainment, india, industry, manish-kalani, property prices, sheikh, space

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PPL Retains to Residential Projects

by Paul Joseph May 16, 2011 Uncategorized

Puravankara Projects Ltd. will take a call on incoming the hospitality sector in 6-8 months and which segment to target would depend on the city and the site’s location, according to a top company official. “The company possessed properties in city centres that were suitable for hospitality projects. However, the organisation has put them on hold since its focus now was on residential projects ,” said the Joint managing director, PPL. While granting that the endless rising of the home loan interest rates may have a near-term impact on the industry, he did not expect it to discourage buyers from investing in home purchases particularly in the South. Puravankara, Joint managing Director, was speaking at a press conference to announce the upcoming project in Coimbatore . The company was asked, are they looking to expand in other regions in the county rather than being a South-focused player? Ashish said, PPL was ‘more an opportunity-driven’ company and it moved into southern cities because of the opportunities they provided. He added that the company would like to strengthen its presence in the South first. It has a joint venture project in Kolkata and also in Colombo.

Tagged as: city, director, from-investing, industry, organisation, projects, property news, said-the-joint, south-focused, southern-cities, strengthen-its

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Real Estate Developer to Retain Focus on Residential Segment

by Paul Joseph May 14, 2011

Puravankara Projects Ltd (PPL) will take a call on entering the hospitality sector in 6-8 months and which segment to target would depend on the city and the site’s location, according to a top company official. “The company owned properties in city centres that were suitable for hospitality projects. However, the company has ‘put them on hold’ since its focus now was on residential projects,” said Ashish Puravankara, joint managing director, PPL. While conceding that the continuous rising of the home loan interest rates may have a near-term impact on the industry, he did not expect it to deter buyers from investing in home purchases particularly in the South. Puravankara was speaking at a press conference to announce the launch of a project in Coimbatore. Asked if the company was looking to expand in other regions in the county rather than being a South-focused player, Ashish said, PPL was ‘more an opportunity-driven’ (company) and it moved into southern cities because of the opportunities they provided. He added that the company would like to consolidate its presence in the South first. It has a joint venture project in Kolkata and also in Colombo.

Tagged as: bangalore, chennai, city, continuous, from-investing, home-purchases, hospitality, hyderabad, industry, opportunities, real estate, south, south-focused, southern-cities

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Investor Clinic Not Fraud

by Paul Joseph May 13, 2011 Uncategorized

Real Estate business needs lots of  investigation before investing money into it. Certain companies, some projects, some builders are fraud, and sometimes our luck is fraud. We need a trustworthy agent who is legaly certified and is not a fraud. Investors clinic is an ISO 9001:2000 certified company, which has gained a huge respect in the industry with esteemed patrons and lots of awards, one award Times Research Service Excellence Award 2010 is honored to Investors clinic by respected Kapil Dev in 2010. Investors clinic also achieved an award by Buildecon Publisher for the Best Property Consultants in Delhi/NCR . Investors clinic deals with legal and genuine builders with all approved projects only to avoid any case of fraud deal. Investors clinic believe “customer is king and one can never hoax with King.” Surprisingly, Investors clinic found some wrong and fake comments on some mediums, which are confusing as Investors clinic fraud. Investor clinic is genuine customer handler and immediately started contacting the contacts given on those mediums to solve their problem. Honey Katiyal personally look into the matter to find the complaints and try to rectify the problems. However, none of the e-mail id or phone number were correct. Investors clinic tried other ways out to contact them but, not to surprise, all complaints were fake. This is a clear justification on its own that Investors clinic is not fraud but those who are trying to insult and defame it as fraud are themselves frauds. May be Investor clinic’s smart growth, with thousands of satisfied customers, has made its competitors to do such actions and squel Investors clinic fraud. If these fake people will continue to do such a cheap tricks, then Investors clinic may have to consider taking a legal action against these frauds. In real estate business , the first reputed name comes is “Investors clinic” who are geniune.

Tagged as: business-needs, clinic-believe, complaints, consider-taking, honey-katiyal, industry, investors, its-competitors, personally-look, problems, property news, real estate, times-research

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