sector

Govt Likely to Permit FDI in Multi-Brand Retail in Six Metros

by Paul Joseph June 21, 2011

The government is likely to permit foreign direct investment (FDI) in multi-brand retailing only in the six big metros. The emerging consensus in the government is that the recommendation of the Department of Commerce & Industry to allow such stores in cities with over one million population is premature. The six metros in which FDI in multi-brand retailing will be permitted are Delhi, Mumbai, Kolkata, Chennai, Bangalore and Hyderabad. The decision in favour of a ‘calibrated’ liberalisation, keeping other cities out, is on account of political concerns regarding the impact of the opening up of multi-brand retailing to FDI on small retailers, reports Business Standard. The 2001 census reported over 35 cities (up from 23 in the 1991 census) with a population of over a million. The number will be higher in the 2011 census. The note prepared by the ministry of commerce for the committee of secretaries on FDI in retail has said the cities will be selected on the basis of the 2011 census. The one million cut-off would lead to inclusion of cities such as Agra, Nashik, Faridabad, Dhanbad, Indore, Vizag, Kochi, Ludhiana, Rajkot, among others. They account for 11.5 per cent of India’s population according to the 2001 census. While the move would further whittle down the policy, which already has several riders, it would enable a step by step approach to liberalising the sector. While FDI up to 51 per cent is proposed, state governments may get the power to decide if they want to allow foreign retailers to open front-end stores in their cities. The policy also says at least 50 per cent investment should be in back-end infrastructure. The minimum FDI suggested is Rs 450 crore. Also, 30 per cent manufactured products should be outsourced from small and medium enterprises, it says. The approach is based on the China model. China allowed FDI in retail in 1992, but only in six major regions and cities, and limited foreign ownership to 49 per cent. The number of foreign retailers operating large stores was limited to 50. It allowed 100 per cent FDI only in 2004. It has been able to attract huge investments in the sector without impacting either small retailers or domestic retail chains. All key ministries have supported FDI in multi-brand retailing. Kaushik Basu, chief economic advisor in the finance ministry, has said the move will curb prices.

Tagged as: delhi, gurgaon, kaushik-basu, noida, real estate, real estate developers, real estate india, recommendation, sector

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Real Estate Sector Loans Poses Concerns: RBI

by Paul Joseph June 15, 2011

The real estate sector has posed “some concerns” given the large and growing share of these loans in the credit portfolio of banks, its non-performing assets (NPAs) witnessing higher-than system level NPAs growth, and potential of greater slippages into NPAs, the Reserve Bank of India said in its Financial Stability Report. “Going forward, the asset quality in this segment may come under further pressure given the increasing interest rate environment. There is also some anecdotal evidence of increasing inventory levels in the sector even as prices continued to remain elevated,” the RBI said.

Tagged as: financial, india, property prices, real estate, reserve, sector

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Parsvnath to Launch Township on SEZ property in Gurgaon

by Paul Joseph June 1, 2011

Reading a strong demand in northern India space, real-estate major Parsvnath Developers is all set to launch township on SEZ property in Gurgaon. “The company aims to sell 6-7 msf in FY12,” said chairman Pradeep Jain in an interview with CNBC-TV18. Despite the impact of interest and price rise of property, the company sees the consumer demand staying afloat. The company felt the heat in its FY11 results announced recently. With the central bank raising interest rates in the last fiscal and inflationary pressure on raw-material costs, the company’s total revenue on a year-on-year basis was down by 30% at Rs 252 crore versus Rs 359 crore. In line with slowdown in the sector, its EBITDA fell by 24% to Rs 66.5 crore from Rs 82 crore in the last financial year.

Tagged as: consumer, delhi, faridabad, felt-the-heat, gurgaon, launch-township, pradeep-jain, pune, real estate developers, sector, total-revenue

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UP Govt Announces 12.5% Hike in Land Prices at Greater Noida

by Paul Joseph May 24, 2011

After violent farmers’ protests for enhanced land compensation, authorities of Noida, Greater Noida and Yamuna Expressway on Monday decided to hike land rates by 12.5 per cent. To compensate the loss, authorities have also hiked land allotment rates by the same percentage. This was announced by Chairman Mohinder Singh at a press conference in the evening after a board meeting of the authorities. Besides, authorities have approved for four new metro rail projects including City Centre to NH-24 via Sector 71 crossing, Sector 71 crossing to Bodaki railway station in Greater Noida via Sector 121 and Noida Extension and Kalindi Kunj to Botanical Garden. The fourth link from Sector 94 to 142 via 124 and 44 will link the Noida-Greater Noida Line to Kalindi Kunj providing a direct link to the Sarita Vihar line. An elevated road along the Shahdara drain is proposed from Sector Sector 14-14A to Kalindi Kunj via Noida Sector 95. The line would be 5.8 kilometer long and cost Rs 525 crore. Besides, the board has approved a laser park at Sector 91, a project for municipal solid waste management and other village development projects.

Tagged as: authorities, chairman, greater-noida, municipal-solid, noida, noida-extension, park-at-sector, real estate, sarita, sector

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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.

Tagged as: faridabad, gurgaon, modern, noida, office, project, proposed, real estate developers, real estate india, real estate trends, retail market in india, sector, vicinity

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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.

Tagged as: chairman, faridabad, gurgaon, noida, north, office, proposed, real estate, real estate india, retail market in india, sector

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3c Sports Village Noida

by Paul Joseph April 18, 2011 Uncategorized

After the grand success of Lotus Zing, Lotus Panache, Lotus 300 3C Group brings to you its new Residential Project Sports Village Sector 78, 79 Noida. This Project offers world class infrastructure and facilities.Sports Village are positioned on near by 7 minute drive drive from Sector 36 Metro Station, 10 minute drive from DND Flyover and more convenient. This Project offers 2, 3 and 4 Bedroom Apartments ranging in the size from 1230 – 2475 Sqft. Locations 3C’s launches his new project at sector 78-79 with the name of 3C’s SPORTS VILLAGE. International Standard academic for Golf, Cricket, Boxing, Badminton, Lawn tennis, Swimming, Athletics, Hockey, Football and Squash. 10 Min away from DND Flyway 10 Min away from Sector 18 Next to Proposed Metro Station 2 Minute away from Lotus Boulevard A 180* acers Residential Complex dedicated to sports Located at sector 78 – 79 Noida Coming Soon……….. Call for Booking

Tagged as: 3c noida, 3c sports, boxing, lotus, lotus-boulevard, project, project-sports, proposed-metro, residential, sector, sports-village, village-sector

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Logix Neo World, Noida, 9990056660

by Paul Joseph April 16, 2011 Uncategorized

Logix Neo World, Sector 150, Noida •Noida’s 1st golf-centric township – spread over 200 acres •Located on Noida-Gr. Noida Expressway, just 2 minutes from Yamuna Expressway and the proposed overhead corridor to Faridabad, 15 minutes from South Delhi, 10 minutes from Sec 18, Noida, many corporates and MNCs in the vicinity, very close to India’s first international racing track and cricket

Tagged as: 200-acres, faridabad, logix neo world, proposed, sector, south, south-delhi, spread-over, the-vicinity, very-close, vicinity

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Credai makes carpet area mention mandatory for builders

by Paul Joseph April 15, 2011 Uncategorized

New Delhi, Apr 13 (PTI) Credai, the apex realtors body, today said it has made mandatory for all members of the association to mention carpet area in their brochures and sale agreement, aiming to bring in transparency in the sector. Confederation of Real Estate Developers” Association of India (Credai), which has over 10,000 builders as member across the country, has decided that in the next six

Tagged as: all-members, apex, association, country, india, india property, mention-carpet, real estate india, realtors-body, sector, the-country, their-brochures, today-said

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PM Supports Lower Stamp Duties to Ensure Transparancy in Real Estate

by Paul Joseph March 18, 2011 Uncategorized

Terming stamp duties as a “big obstacle” in ensuring transparent transactions in real estate, Prime Minister Manmohan Singh on Friday batted for reducing such levies to check the flow of black money in the sector. “I think as far as black money in real estate is concerned, unfortunately that is a reality and one way out of this would be to lower the stamp duties,” Singh said at the India Today Conclave here. Replying to a poser on black money transactions in the real estate sector, the Prime Minister said stamp duties in the country are a “big obstacle to cleaning the mess with regard to transactions in real estate. “So that’s one way in which we can work towards a system whereby black money would be less of a menace in transactions relating to real estate.”

Tagged as: big-obstacle, black-money, check-the-flow, estate-sector, india, india-today, lower-the-stamp, manmohan-singh, poser-on-black, prime-minister, real estate, real estate developers, sector, singh-on-friday, think-as-far

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