over-the-last

Mumbai flat rented for Rs 1.65 L a month

by Paul Joseph July 22, 2011 Uncategorized

In Mumbai Real Estate- An apartment in Worli, counting at about 1,100 square feet, was leased by a chief corporation for a monthly rental of Rs 165,000. The region is single of the most-favorite residential places for rental units owing to the detail that it is situated centrally, offering access to found new business districts and is also well capable with social and civic infrastructure. Given the benefits and increasing demand from business and end-users for rental accommodation, rental values in this location has observed an augment of about 4% over the last year and is probable to remain stable with an upward bias. Given the realty that residential property market is responsive to rapid price changes, we suppose the market to hold stable. In Chennai Property – A housing unit on East Coast Road was leased by a person for a monthly rental of Rs 1,10,000. Extend over a region of Rs 4,500 square feet, the residential properthttp://www.blogger.com/img/blank.gify is fully furnished and offers all essential white goods, fixtures and furniture. The Chennai bazaar has observed a growth in rental property demand because of a large arrival of professionals from further than the city. Consequently, the rentals markets have been observing rapid grow in values, ranging from 7% to 22%, over a 1 quarter. East Coast Road is particularly in spotlight as it offers its homes unabated access to the sea coast and the tranquility of living further than the centre of the city, aside from being near to newer office locations. Hyderabad real estate– A housing unit calculating about 1,770 square feet was sold for a total value of Rs 51,45,000. Piece of a villa-style gated development; the residence is situated in Secunderabad and offers standard services for example gymnasium, clubhouse, swimming pool, 24X7 security, banquet hall and et cetera. The region was usually observed as peripheral to the key city of Hyderabad property , but in current times, owing to its skill to offer large residential plots for development, the area has started to gain prominence.

Tagged as: chennai property, coast-road, hyderabad real estate, monthly-rental, mumbai-real, over-the-last, property-market, residential places, the-tranquility

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Soham Group Targets Affordable Housing Segment; To Invest Rs 1000cr in Next 2-3 Years

by Paul Joseph April 18, 2011 Uncategorized

Real estate developer Soham Group has announced plans to invest around Rs 1,000-crore over the next 2-3 years for launching affordable housing projects. The company has lined up 25 projects to be developed in the coming years, which will be primarily in Mumbai Metropolitan Region including Thane. “A paradigm shift has been observed in the real estate market over the last few years. Apart from luxury homes, there has been a great demand for affordable houses. Considering this an opportunity for players like us, we have planned to invest around Rs 1,000-crore over the next 2-3 years,” Soham Group’s chairman, Chaitanya Parekh, told PTI. “At present, we are focusing on developing projects in the Mumbai Metropolitan Region. However, our associate companies including Pruksa Luxora and Luxora Properties will be developing projects in other parts of Maharashtra,” he said. Soham has formed a joint venture with Pruksa Real Estate, a realty major with significant presence in the property market of Thailand, to develop around five township projects in Maharashtra in its first round of operations. The company has also tied up with Mirah Group to build high-end iconic towers and luxury townships mainly beyond Thane and in Tier II cities of Maharashtra. On its fund raising plans Parekh said, “The Group’s solid financial backing consists of foreign direct equity investments (FDI) from the Bank of Scotland and Aanya Investment Management, a private equity firm.” He said the company may come out with an IPO later.

Tagged as: associate, mirah-group, over-the-last, pune, real estate, real estate developers, real estate india, real estate trends

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Mumbai Commercial Market Showing Signs of Recovery

by Paul Joseph February 7, 2011 Uncategorized

The commercial real estate market in Mumbai is finally bouncing back after a prolonged recession-induced slump. According to a recent report by property consultants Knight Frank, the commercial market in Mumbai is showing signs of revival and enquiries are on the rise. The first three quarters of financial year 2010-11 witnessed more transaction of office space at 6.83 million sq ft than the entire last fiscal, which saw only 6.68 million sq ft uptake of commercial realty space. “The postponement of expansion plans by many BFSI (Banking, Financial Services and Insurance) and IT/ITES companies, which are the principal drivers for commercial office demand in Mumbai further, affected the overall office market,” says the report. It is only recently that commercial rentals have started stabilising after nose-diving from July 2009 to December 2010 due to a feeble demand for the excess supply. Lately, some pockets in Mumbai have shown an improvement in absorption by the BFSI and IT/ITES sector, which accounted for more than 60 per cent of the transactions for the last two years. The total office space transaction during the first three quarters of this year saw 27 per cent from BFSI sector, a steep decline from its share of 41 per cent during last year. On the other hand, the IT/ITES sector had a share of 37 per cent of transacted office space this year as against only 20 per cent last year. “During the slowdown, the IT sector had hit rock bottom. Over the last two quarters since the economy both in India and globally started moving upward, IT firms like IBM, Infosys have started recruiting. The sectoral growth may plateau eventually, but the firms know that this is the right time to expand,” said Samantak Das, National Head for Research at Knight Frank (India). Over the last year, Accenture, Syntel, Wipro and L&T Infotech have taken up huge office space in peripheral location projects like Mindspace Airoli and Millennium Business.

Tagged as: delhi, financial, india, mumbai, over-the-last, per-cent, real estate, real estate india, year

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Real Estate Index Up by 5%

by Paul Joseph February 2, 2011

Shares of real estate developers were trading higher with the real estate index up nearly 5 percent on bargain buying after falling sharply over the last one week, three dealers said. Funds had cut down exposure to the sector after the Indian central bank increased interest rates, said an analyst with a local brokerage. Last week, India’s central bank raised interest rates by a quarter of a percentage point — its seventh rate increase in less than a year — to clamp down on resurgent inflation. At 2.39 p.m., the BSE realty index was up 3.99 percent, outperforming the benchmark index which was up 1.02 percent. Shares of DLF , Unitech, Housing Development and Infrastructure and Indiabulls Real Estate were up 3-7 percent.

Tagged as: delhi, gurgaon, india, indiabulls, noida, over-the-last, pune, real estate, real estate india, real estate trends

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Pune Witnesses Great Resurgence in Commercial Real Estate Demand

by Paul Joseph October 11, 2010 Uncategorized

Sanjay Bajaj, Local Director – Markets, Jones Lang LaSalle India said, “Far ahead of what market pundits have been predicting, the Pune commercial real estate market is already witnessing a great resurgence in demand. The clients I have been in discussion with over the last quarter and definitely interested in growing their portfolios once again, and a few of them have some really impressive growth plans. Today’s scenario is a far cry from that of 2009, when the demand for commercial real estate in Pune clearly reflected the weak global market sentiments – absorption levels stood at approximately 1.8 million sq.ft. In sharp contrast, this point of 2010 already shows absorption levels as high 2.3 million sq.ft., and our market researchers are confident that this figure is likely to rise to 3.0 million sq.ft by the end of the year.Too good to be true? I would have thought so myself, but the evidence is in – Pune office space is back with a bang.”

Tagged as: commercial-real, delhi, mumbai, over-the-last, real estate developers, real estate india

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Property Prices Mumbai at an all Time High

by Paul Joseph October 1, 2010

With property prices soaring to dizzying heights in the country’s financial capital, aspiring home-buyers have to be much more than a crorepati to buy a flat in Mumbai, where the average cost of a roof over one’s head is now at an all-time high of Rs 1.91 crore. According to figures put together by the real estate research agency Liases Foras, the weighted average cost of a flat in Mumbai at 1.91 crore has leapt by 49 percent over the last one year. The weighted average cost is the total capital value of all flats divided by the total inventory in each city. In comparison, five other cities like Bangalore, Hyderabad, Chennai, Pune and the National Capital Region (NCR) have witnessed either a drop in rates or a negligible increase. An average flat in these places is relatively affordable at Rs 35 to Rs 50 lakh. Pankaj Kapoor, CEO of Liases Foras said that most cities have maintained an equilibrium in pricing, “Of all the cities, Mumbai is the only one where the prices have escalated so much that no segment can afford it. Most developers here are not bothered about end user sale. If the sale of flats in Mumbai for April to June last year is compared to the same period this year, there is a 50 percent decline this time around,” said Kapoor. Mumbai’s nearest contender is Gurgaon also a highly speculative market with an weighted average flat price of Rs 97 lakh but unlike Mumbai this price has remained unchanged over the last year. Also, unlike Mumbai which has well-defined boundaries with no scope for expanding further, most other cities still have enough new land supply along the periphery helping keep the prices under control. For instance Noida, which has seen the highest price correction, has a lot of new land that has opened up for development recently. Chennai is the most healthy market which has not allowed speculation to come into play at all and has been a purely end-user market. Kapoor states that though developers in Mumbai have started feeling the pinch of cash crunch which will ultimately lead to bursting of the bubble, the bull-run is expected till the time the rush of real estate IPOs continue. Of the dozen such IPO that are expected to be launched in near future, a majority are from Mumbai. “The correction will happen only if one or two IPO fail to do well,” said Kapoor. The backbreaking hike in home prices is all the more stark when seen in relation to the per capita income in Mumbai which is Rs 1.28 lakh as per the Economic Survey of Maharashtra (2009-10). This means that the average cost of a flat in the city is about 100 times more than the average income each Mumbaikar makes annually. According to a 2009 Task Force report prepared by a central government appointed committee, affordable housing has been defined as when the cost of a house doesn’t exceed five times the household gross annual income.

Tagged as: average, country, economic, gurgaon, national, over-the-last, price, real estate, real estate developers, real estate india, total

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Mahindra and Mahindra’s Real Estate Arm Clocks 39 Pc Rise in Net Profit

by Paul Joseph July 27, 2010

Mahindra and Mahindra’s real estate development arm, Mahindra Lifespaces, clocked a 39 per cent rise in net profits to Rs 14.48-crore in Q1 of FY 11, driven largely by good performance in the residential segment. The company’s net profit in the corresponding period last year was Rs 10.42-crore. The operating income of the company also registered a 44 per cent increase, rising to Rs 67.93-crore as compared to Rs 47.26-crore the year before. “The growth in the commercial real estate has been subdued over the last year, but we have concentrated on residential real estate to compensate for it which has led us to good numbers,” company Chairman, Arun Nanda, said addressing shareholders at the firm’s annual general meeting here. Consolidated sales of residential units stood at Rs 92-crore in the April-June quarter as against Rs 21-crore the previous year. To further consolidate its hold on the residential market, the company has recently bought a 10-acre land parcel in Hyderabad which has a potential of 1 million square feet, Nanda said. On the integrated townships front–under which the company develops a mix of commercial and residential property–the company has begun acquisition process for a 3,000-acre world city near Pune and 1,000-acre world city in Chennai near the port to focus on manufacturing units, Nanda said.

Tagged as: banking and finance, chairman, commercial, over-the-last, real estate companies, real estate india

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Confident Bangalore Real Estate Developers coming up with New Projects

by Paul Joseph July 9, 2010

Rising purchasing power and higher wages in the information technology (IT) sector is making real estate firms in Bangalore confident of launching new projects after a lull in the past few years, according to a DNA, Bangalore report. The city developers — Sobha Developers, Puravankara and the Brigade Group — which had not launched any new projects over the last one-and-a-half year, are planning to launch a combined 34 msf in the current fiscal. Baaskaran Subramanian, CFO, Sobha Developers, said the trend is driven by higher transaction volumes being registered by city’s builders, which had reduced the number of unsold inventory with them. “With the improving affordability, our existing unsold stock has come down drastically. Besides, we have also cleaned up our balance-sheet by reducing debt and thereby improving cash flow. We feel we can go ahead with new projects now,” he said. Sobha Developers’ transaction volume jumped 150 per cent in the first quarter of the fiscal 2011 over the same period last year. On the other hand, its unsold inventory dwindled by 0.625 msf in the last 3 months. Ashish Puravankara, director, Puravankara Projects Ltd, claims his company’s sales to have shot up in double digits over the last 4-6 months. Saurabh Kumar and Gunjan Prithyani, analysts with JP Morgan, said that Bangalore was the “only market, which is showing growth.”

Tagged as: bangalore, dna, existing, over-the-last, puravankara, real estate, real estate developers, transaction

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Bangalore realtors ride high on affordability

by Paul Joseph July 9, 2010

Rising purchasing power and higher wages in the information technology (IT) sector is making real estate firms in Bangalore confident of launching new projects after a lull in the past few years, according to a DNA, Bangalore report. The city developers — Sobha Developers, Puravankara and the Brigade Group — which had not launched any new projects over the last one-and-a-half year, are planning to launch a combined 34 msf in the current fiscal. Baaskaran Subramanian, CFO, Sobha Developers, said the trend is driven by higher transaction volumes being registered by city’s builders, which had reduced the number of unsold inventory with them. “With the improving affordability, our existing unsold stock has come down drastically. Besides, we have also cleaned up our balance-sheet by reducing debt and thereby improving cash flow. We feel we can go ahead with new projects now,” he said. Sobha Developers’ transaction volume jumped 150 per cent in the first quarter of the fiscal 2011 over the same period last year. On the other hand, its unsold inventory dwindled by 0.625 msf in the last 3 months. Ashish Puravankara, director, Puravankara Projects Ltd, claims his company’s sales to have shot up in double digits over the last 4-6 months. Saurabh Kumar and Gunjan Prithyani, analysts with JP Morgan, said that Bangalore was the “only market, which is showing growth.” Source : http://www.realtyplusmag.com/rpnewsletter/fullstory.asp?news_id=9270&cat_id=3 Filed under: Bangalore , Builders/ Developers , New projects Tagged: Bangalore , Brigade group , Puravankara , Sobha Developers

Tagged as: bangalore, builders/ developers, developers, new-projects, over-the-last, puravankara

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Emaar MGF group came with new exciting project

by Paul Joseph June 9, 2010

Emaar MGF The Views Sector 105 Mohali offers 2 & 3 bedroom apartments and 4 bedroom penthouses at affordable price with all modern world class facilities including parks, secured gated community, multi tier 24/7 securities, power back up, Club house with swimming pool and many more. Emaar MGF The Views is exclusively configured around gracefully landscaped gardens and parklands. Stylish and exciting, the apartment towers provide an outstanding surroundings for present day living. Emaar MGF Land Limited is a joint venture between Emaar Properties PJSC of Dubai and MGF Development Limited of India. Emaar is one of the world’s foremost real estate companies with operations in 16 countries. MGF has over the last 10 years established itself as one of the key players in retail real estate development in Northern India. Affinity Solutions Pvt. Ltd an associate of all the leading brands of Indian Real Estate market with more than 10 yrs of experience in real estate services handling the entire project in NCR/Delhi. We understand the value of your time and money so provide the best services in Real Estate market with our unique portfolio management services. Source: http://www.sbwire.com Filed under: Builders/ Developers , Delhi , New projects Tagged: Delhi , Emaar MGF , NCR

Tagged as: builders/ developers, delhi, emaar mgf, indian, new-projects, over-the-last, swimming-pool, time, unique

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