office

3 Women Accused of Real Estate Fraud worth over Rs 700 crores

by Paul Joseph June 15, 2011

Three women from a family have allegedly emerged as scamsters in a real estate fraud in excess of Rs700 crore with nearly 1,500 investors duped. On June 7, 2011, the Economic Offences Wing (EoW) of Delhi Police arrested Madhu Singh, managing director of AJS Builders. Madhu, in collusion with her mother-in-law Kailash Rani and sister-in-law Geeta Singh, had floated a fake easy installment residential apartments scheme, the police said. At present, 338 investors have filed complaints against the company for cheating and criminal conspiracy. The company had allegedly collected more than Rs700 crore from 1,500 investors in three projects on the pretext of providing them flats in a time-bound manner. Geeta Singh, one of the directors in the company, was declared proclaimed on October 16, 2010 for evading arrest. Meanwhile, Kailash Rani has not been arrested as she is very old and is ailing in the hospital. Several advertisements were allegedly published in national newspapers for the proposed construction at Sector 62 in Gurgaon during 2006-07. “She lured us stating it’s an affordable construction project in the memory of her late husband. She took advantage of her widowhood and convinced investors to shell out R10 lakh and more for the future construction,” claimed retired brigadier APS Gujral, one of the investors from Gurgaon. The EoW on Monday produced Madhu before a metropolitan magistrate after completion of her five-day police custody. The police sought her further custodial interrogation, as many computers from her office were missing. “We believe there is lot of crucial data, in connection with this scam, stored in some of her office computers. Her custodial interrogation is required to affect their recovery,” said the police in court. The counsel for the complainants said even three years after she had floated the residential scheme, not a single flat has been allotted. The court extended Madhu’s custody for three days, as it was convinced by police arguments. AJS Builders was carrying out three different projects in Indirapuram, Gurgaon and Gannaur in Sonepat, where it had promised investors of developing residential colonies.

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3 Women Accused of Real Estate Fraud worth over Rs 700 crores

by Paul Joseph June 15, 2011

Three women from a family have allegedly emerged as scamsters in a real estate fraud in excess of Rs700 crore with nearly 1,500 investors duped. On June 7, 2011, the Economic Offences Wing (EoW) of Delhi Police arrested Madhu Singh, managing director of AJS Builders. Madhu, in collusion with her mother-in-law Kailash Rani and sister-in-law Geeta Singh, had floated a fake easy installment residential apartments scheme, the police said. At present, 338 investors have filed complaints against the company for cheating and criminal conspiracy. The company had allegedly collected more than Rs700 crore from 1,500 investors in three projects on the pretext of providing them flats in a time-bound manner. Geeta Singh, one of the directors in the company, was declared proclaimed on October 16, 2010 for evading arrest. Meanwhile, Kailash Rani has not been arrested as she is very old and is ailing in the hospital. Several advertisements were allegedly published in national newspapers for the proposed construction at Sector 62 in Gurgaon during 2006-07. “She lured us stating it’s an affordable construction project in the memory of her late husband. She took advantage of her widowhood and convinced investors to shell out R10 lakh and more for the future construction,” claimed retired brigadier APS Gujral, one of the investors from Gurgaon. The EoW on Monday produced Madhu before a metropolitan magistrate after completion of her five-day police custody. The police sought her further custodial interrogation, as many computers from her office were missing. “We believe there is lot of crucial data, in connection with this scam, stored in some of her office computers. Her custodial interrogation is required to affect their recovery,” said the police in court. The counsel for the complainants said even three years after she had floated the residential scheme, not a single flat has been allotted. The court extended Madhu’s custody for three days, as it was convinced by police arguments. AJS Builders was carrying out three different projects in Indirapuram, Gurgaon and Gannaur in Sonepat, where it had promised investors of developing residential colonies.

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Gurgaon Tops Registered Real Estate Agents List in Haryana

by Paul Joseph May 25, 2011

With 903 registered property dealers, Gurgaon has topped the list of districts in Haryana since the state started the registration of real estate agents. The registration of the dealers was started to make such intermediaries in the property business more accountable and responsible. Responding to a review meeting by the revenue secretary Naresh Gulati through video conferencing, Gurgaon deputy commissioner P C Meena said that the district administration has started a survey for identifying property dealers operating without a valid licence. Sources in the district revenue department said that the number of agents registered falls far below the actual number of real estate consultants operating in the city. Gurgaon has a growing number of property dealers because of the booming real estate market. The city offers several options for housing and commercial space for those who are shifting here for employment or business. Gulati has asked all the DCs to keep a watch on the property dealers and get them enrolled with the state authority. He said that individuals have to pay a licence fee of Rs 25,000 for registration while in case of any organization, company or society the fee is Rs 50,000. The licence is valid for five years and thereafter it has to be renewed. For individuals, the renewal fee is Rs 5,000 while for any organizations, company or society it is Rs 10,000. The revenue secretary said that the application for obtaining property dealers licence should be enclosed with a proof of residence, four photographs, thumb impression, undertaking of solvency certificate, character certificate, two guarantors about his genuineness and address of the premises of his business accompanied by the treasury challan of the payment of the prescribed fees. The licence shall stand automatically cancelled in cases of bankruptcy, insolvency or lunacy. The property dealer will have to display the signboard bearing the registered licence number in the office, said a government release. The norms restrict any state or Central government employee or those in the public sector undertaking to apply for the licence. As per norms, the licence holder shall get only 1% commission on the agreed consideration value paid by the seller and purchaser of the property that is half percent by each of them on finalization of the deal. The secretary also reviewed the computerization of land records and asked the DCs to expedite work and upload the jamabandies and mutations after integrating the Haryana Land Records Information System (HALRIS) and Haryana Registration Information System (HARIS). By integrating these systems, the mutation will be automatically updated during the sale or purchase of any real estate.

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Supertech Launches Retail cum Office Complex Christened “E Square” at Noida

by Paul Joseph May 20, 2011

Supertech Limited, a leading real estate developer launched “E Square”, a premium new age retail cum office complex situated in Sector 96, Expressway Noida. The project is strategically located in terms of convenience and comfort with world class facilities for the inhabitants of the residential sectors in the vicinity. E Square is spread over an area of around 7724 sq. mtrs. of land and the project will be built up on 5.5 lacs sq. ft. of the total area with G+UG Floor+24 floors. The project will be a mix of retail and upscale offices and entertainment zone. The size of the office spaces will range between 520 sq. ft. to 15000 sq. ft. The price of the plots is approx. ‘ 7300 per sq. ft. Located amidst the residential and IT hub of Noida, the project is just 10 minutes drive from Delhi and walking distance from the proposed Metro Station. Artistically designed, the project will offer world class infrastructural facilities like 100% power backup, 24 x 7 security, high speed elevators, multi-level basement parking to accommodate around 600 vehicles and wi-fi enabled fast internet access, fire safety equipments as per international standards. The project will also have a beautiful double height lobby and a roof top garden. The construction of E Square will start shortly and is expected to be completed within 24 months. According to Mr. RK Arora, Chairman & Managing Director, Supertech Limited, “There is a lot of infrastructural development taking place on Expressway Noida and a good quality office-cum-retail complex is the need of the hour. Hence we came up with E Square, which will offer premium office space with an integrated retail and entertainment zone. It will be an ideal destination for all MNCs and Corporates and also for the residents in the vicinity”. “The project will also enjoy the locational advantage as it is just 10 minutes drive from Delhi via DND, 5 minutes from Sector 18 Noida and walking distance from the proposed metro station:, added, Mr. Arora. Supertech Limited; an ISO 9001:2000 certified company, has successfully completed 22 years in real estate business and today it has revolutionized the real estate arena. With more than 50 thousand customer’s base, Supertech is celebrating this joyous achievement by honoring its valued customers thereby addressing each and every resident as ‘Citizen Supertech’. Supertech Group is scaling new heights every day because of its engineering techniques, innovative designing, architectural finesse, quality and timely completion of the projects undertaken. The Group has been involved in building the modern and finest residential, commercial complexes, townships, IT Parks and hotels. Amongst the recently launched projects, North India’ tallest residential tower, ‘North Eye’ at Sector 74, Noida, environmental friendly affordable project ‘Eco-Village at Noida Extension, Eco-centric development project ‘Eco Citi’ at Sector 137 (Noida), architectural masterpieces like ‘Emerald Court’ at Sector 93, Noida, High End Residential Project ‘34 Pavilion’ with 7 star living facilities at Sector-34 Noida, beach side expandable villas and high-rise apartments ‘Upcountry’ at Yamuna Expressway, affordable luxury homes ‘Cape Town’ at Sec-74, Noida and ‘Oxford Square’ comprises of Independent floors at Noida Extension.

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Supertech Launches Retail cum Office Complex Christened “E Square” at Noida

by Paul Joseph May 20, 2011

Supertech Limited, a leading real estate developer launched “E Square”, a premium new age retail cum office complex situated in Sector 96, Expressway Noida. The project is strategically located in terms of convenience and comfort with world class facilities for the inhabitants of the residential sectors in the vicinity. E Square is spread over an area of around 7724 sq. mtrs. of land and the project will be built up on 5.5 lacs sq. ft. of the total area with G+UG Floor+24 floors. The project will be a mix of retail and upscale offices and entertainment zone. The size of the office spaces will range between 520 sq. ft. to 15000 sq. ft. The price of the plots is approx. ‘ 7300 per sq. ft. Located amidst the residential and IT hub of Noida, the project is just 10 minutes drive from Delhi and walking distance from the proposed Metro Station. Artistically designed, the project will offer world class infrastructural facilities like 100% power backup, 24 x 7 security, high speed elevators, multi-level basement parking to accommodate around 600 vehicles and wi-fi enabled fast internet access, fire safety equipments as per international standards. The project will also have a beautiful double height lobby and a roof top garden. The construction of E Square will start shortly and is expected to be completed within 24 months. According to Mr. RK Arora, Chairman & Managing Director, Supertech Limited, “There is a lot of infrastructural development taking place on Expressway Noida and a good quality office-cum-retail complex is the need of the hour. Hence we came up with E Square, which will offer premium office space with an integrated retail and entertainment zone. It will be an ideal destination for all MNCs and Corporates and also for the residents in the vicinity”. “The project will also enjoy the locational advantage as it is just 10 minutes drive from Delhi via DND, 5 minutes from Sector 18 Noida and walking distance from the proposed metro station:, added, Mr. Arora. Supertech Limited; an ISO 9001:2000 certified company, has successfully completed 22 years in real estate business and today it has revolutionized the real estate arena. With more than 50 thousand customer’s base, Supertech is celebrating this joyous achievement by honoring its valued customers thereby addressing each and every resident as ‘Citizen Supertech’. Supertech Group is scaling new heights every day because of its engineering techniques, innovative designing, architectural finesse, quality and timely completion of the projects undertaken. The Group has been involved in building the modern and finest residential, commercial complexes, townships, IT Parks and hotels. Amongst the recently launched projects, North India’ tallest residential tower, ‘North Eye’ at Sector 74, Noida, environmental friendly affordable project ‘Eco-Village at Noida Extension, Eco-centric development project ‘Eco Citi’ at Sector 137 (Noida), architectural masterpieces like ‘Emerald Court’ at Sector 93, Noida, High End Residential Project ‘34 Pavilion’ with 7 star living facilities at Sector-34 Noida, beach side expandable villas and high-rise apartments ‘Upcountry’ at Yamuna Expressway, affordable luxury homes ‘Cape Town’ at Sec-74, Noida and ‘Oxford Square’ comprises of Independent floors at Noida Extension.

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Supertech Launches Retail cum Office Complex Christened “E Square” at Noida

by Paul Joseph May 20, 2011

Supertech Limited, a leading real estate developer launched “E Square”, a premium new age retail cum office complex situated in Sector 96, Expressway Noida. The project is strategically located in terms of convenience and comfort with world class facilities for the inhabitants of the residential sectors in the vicinity. E Square is spread over an area of around 7724 sq. mtrs. of land and the project will be built up on 5.5 lacs sq. ft. of the total area with G+UG Floor+24 floors. The project will be a mix of retail and upscale offices and entertainment zone. The size of the office spaces will range between 520 sq. ft. to 15000 sq. ft. The price of the plots is approx. ‘ 7300 per sq. ft. Located amidst the residential and IT hub of Noida, the project is just 10 minutes drive from Delhi and walking distance from the proposed Metro Station. Artistically designed, the project will offer world class infrastructural facilities like 100% power backup, 24 x 7 security, high speed elevators, multi-level basement parking to accommodate around 600 vehicles and wi-fi enabled fast internet access, fire safety equipments as per international standards. The project will also have a beautiful double height lobby and a roof top garden. The construction of E Square will start shortly and is expected to be completed within 24 months. According to Mr. RK Arora, Chairman & Managing Director, Supertech Limited, “There is a lot of infrastructural development taking place on Expressway Noida and a good quality office-cum-retail complex is the need of the hour. Hence we came up with E Square, which will offer premium office space with an integrated retail and entertainment zone. It will be an ideal destination for all MNCs and Corporates and also for the residents in the vicinity”. “The project will also enjoy the locational advantage as it is just 10 minutes drive from Delhi via DND, 5 minutes from Sector 18 Noida and walking distance from the proposed metro station:, added, Mr. Arora. Supertech Limited; an ISO 9001:2000 certified company, has successfully completed 22 years in real estate business and today it has revolutionized the real estate arena. With more than 50 thousand customer’s base, Supertech is celebrating this joyous achievement by honoring its valued customers thereby addressing each and every resident as ‘Citizen Supertech’. Supertech Group is scaling new heights every day because of its engineering techniques, innovative designing, architectural finesse, quality and timely completion of the projects undertaken. The Group has been involved in building the modern and finest residential, commercial complexes, townships, IT Parks and hotels. Amongst the recently launched projects, North India’ tallest residential tower, ‘North Eye’ at Sector 74, Noida, environmental friendly affordable project ‘Eco-Village at Noida Extension, Eco-centric development project ‘Eco Citi’ at Sector 137 (Noida), architectural masterpieces like ‘Emerald Court’ at Sector 93, Noida, High End Residential Project ‘34 Pavilion’ with 7 star living facilities at Sector-34 Noida, beach side expandable villas and high-rise apartments ‘Upcountry’ at Yamuna Expressway, affordable luxury homes ‘Cape Town’ at Sec-74, Noida and ‘Oxford Square’ comprises of Independent floors at Noida Extension.

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Supertech Launches Retail cum Office Complex Christened “E Square” at Noida

by Paul Joseph May 20, 2011

Supertech Limited, a leading real estate developer launched “E Square”, a premium new age retail cum office complex situated in Sector 96, Expressway Noida. The project is strategically located in terms of convenience and comfort with world class facilities for the inhabitants of the residential sectors in the vicinity. E Square is spread over an area of around 7724 sq. mtrs. of land and the project will be built up on 5.5 lacs sq. ft. of the total area with G+UG Floor+24 floors. The project will be a mix of retail and upscale offices and entertainment zone. The size of the office spaces will range between 520 sq. ft. to 15000 sq. ft. The price of the plots is approx. ‘ 7300 per sq. ft. Located amidst the residential and IT hub of Noida, the project is just 10 minutes drive from Delhi and walking distance from the proposed Metro Station. Artistically designed, the project will offer world class infrastructural facilities like 100% power backup, 24 x 7 security, high speed elevators, multi-level basement parking to accommodate around 600 vehicles and wi-fi enabled fast internet access, fire safety equipments as per international standards. The project will also have a beautiful double height lobby and a roof top garden. The construction of E Square will start shortly and is expected to be completed within 24 months. According to Mr. RK Arora, Chairman & Managing Director, Supertech Limited, “There is a lot of infrastructural development taking place on Expressway Noida and a good quality office-cum-retail complex is the need of the hour. Hence we came up with E Square, which will offer premium office space with an integrated retail and entertainment zone. It will be an ideal destination for all MNCs and Corporates and also for the residents in the vicinity”. “The project will also enjoy the locational advantage as it is just 10 minutes drive from Delhi via DND, 5 minutes from Sector 18 Noida and walking distance from the proposed metro station:, added, Mr. Arora. Supertech Limited; an ISO 9001:2000 certified company, has successfully completed 22 years in real estate business and today it has revolutionized the real estate arena. With more than 50 thousand customer’s base, Supertech is celebrating this joyous achievement by honoring its valued customers thereby addressing each and every resident as ‘Citizen Supertech’. Supertech Group is scaling new heights every day because of its engineering techniques, innovative designing, architectural finesse, quality and timely completion of the projects undertaken. The Group has been involved in building the modern and finest residential, commercial complexes, townships, IT Parks and hotels. Amongst the recently launched projects, North India’ tallest residential tower, ‘North Eye’ at Sector 74, Noida, environmental friendly affordable project ‘Eco-Village at Noida Extension, Eco-centric development project ‘Eco Citi’ at Sector 137 (Noida), architectural masterpieces like ‘Emerald Court’ at Sector 93, Noida, High End Residential Project ‘34 Pavilion’ with 7 star living facilities at Sector-34 Noida, beach side expandable villas and high-rise apartments ‘Upcountry’ at Yamuna Expressway, affordable luxury homes ‘Cape Town’ at Sec-74, Noida and ‘Oxford Square’ comprises of Independent floors at Noida Extension.

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Demand of the Mumbai Realty will be rise as long as interest rates remain

by Paul Joseph December 7, 2010 Uncategorized

There is this investor whose case is a classic example. He had invested in some property in Lower Parel a couple of years ago. This has enjoyed a return of 70 per cent in two years by a rental yield of 12 per cent annually. Currently, the investors for the Mumbai properties are the HNIs and much institutional money would flow into the sector. With the coming up malls due to the inflation in the retail market and also with the upswing in the commercial establishment’s arena there has been a boost in the construction activities in many areas of the metropolitan city. This has, in turn, led to the investment opportunities in the retail, commercial and the real estate sectors. Lower Parel and Bandra Kurla complexes have seen a swell in the office construction work. In the Naiman Point and the Andheri East locations, there has been a spurt in the recent months. The rate of occupancy is 95 per cent and it is considered to be quite high. There is a new trend in Mumbai , considering letting out of apartments and commercial areas very recently. People invest in the buildings only for the sake of lending it to a tenant paying a high amount of money as rent. Pre-leased real estate with tenants of high profile is the most favored option in real estate investment in Mumba i, these days. The properties that fall under the high end category are experiencing an upsurge due to factors like greater affordability, facilities for double income and also rising deplorable income. The demand for Mumbai property will further escalate as long as the interest rates on housing loans remain within means.

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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

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Demand for office spaces to grow in Ahmedabad

by Paul Joseph September 2, 2010

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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