state

SBI stops lending in Noida Extn & Greater Noida, others banks go slow

by Paul Joseph July 8, 2011

NEW DELHI: There may be trouble finding a lender if you are scouting for a house in Noida Extension or even Greater Noida. Concerns over title of land are forcing banks such as State Bank of India to hold back fresh sanctions. A senior SBI executive told TOI that they were not providing any loans to projects in Noida Extension as maps for several projects were unavailable. In case of Greater

Tagged as: executive-told, forcing-banks, greater, greater noida property, india, noida, noida property, noida-extension, over-title, state, state-bank, such-as-state, trouble-finding

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Pune real estate Property

by Paul Joseph June 4, 2011 Uncategorized

Pune is metropolis in the West of India, in the state of Maharashtra and this city is approximately 160 km east of Mumbai. The metropolis lies just about 3 miles next to a river. The lap of the city is a lot older rather than another city. It has zigzag roads, several of which follow the natural rises of the hilly territory and end at the streams feeding the metropolis. As the city enlarged unequally, plenty of roads were constructed around the mid part of the metropolises, counting the chief highways which tie the metropolis to other pieces of the nation. A few of the highways connecting the city are preserved by the State of Maharashtra and are the State Highways. Pune Real Estate is also allied by two National Highways, NH50 and NH4. The highway or freeway linking property in pune to the adjoining chief city is the Mumbai Real Estate -Pune Road. This has been re-constructed some times in numerous types. It is the main piece of National Highway 4. In its modern form, it begins from the 153-year old Pune, Collage of Engineering Pune, widely famous as COEP, in the region of Shivaji Nagar close to the Sancheti Hospital. This artery passes during the peripheries of two Municipal Corporations (titled Pimpri-Chinchwad and Pune), two Cantonments (called Khadki & Dehu Road), and then begins the key Mumbai- Pune Property undo Highway widen after the Katraj-Dehu Road junction at Dehu Road. The industrial regions in the recently-incorporated township of Pimpri-Chinchwad as well lie beside this road and you can observe different large industrial units situated next to the way. High-flying institutions on this road comprise the CME or Collage of Military Engineering at Dapodi, Dehu road Ammunition Factories, the Khadki and Hindustan Antibiotics (HA) at Pimpri. Chief Industrial units are positioned in the industrial territories covered by the MIDC (Maharashtra Industrial Development Corporation). Important names amongst these are as Garware, Bajaj, Telco, Philips, Kinetic and Elpro. In the end, we can say that Pune properties are at this time very attractive and impressive real estates to impress visitors and y if you are in search of investment able properties clutch Pune for getting more profits.

Tagged as: accent, city, india, light-list, medium-grid, medium-shading, pune property, shading, state, time

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Gujarat Housing Board decides to develop 600 acres to meet rising demand

by Paul Joseph June 4, 2011 Uncategorized

In Ahmedabad Property, Having stayed inactive for nearly a decade, the Gujarat Housing Board (GHB) has at the moment jumped into act. It has firm to build up 600 acres that it holds in diverse fractions of the state. The board, which has not built a single housing unit since 2002, will afresh be building residences for the low and middle income group li8ving in urban vicinities of the state. “The method Property prices have augmented, the state government has thought it right to start building homes for the middle and low income groups of the society,” remarked Jayanti Barot, the chairman of the housing board, which has constructed1.75 lakh homes since its setting up in 1960. He remarked that the board of Gujrat was searching at different sources of income comprising the recovery of Rs 600 crore from populace it sold homes to in the past. “We as well have above 550 shops that we had leased out at nominal rates. We are searching to renew those leases too,” Mr Barot announced. Whilst GHB has constructed 1.75 lakh homes in 50 years, its compatriots in other cities have been highly vigorous. MHADA (Maharashtra Housing and Area Development Authority), which is in charge of offering reasonably priced residences solutions in bordering Maharashtra, has enlarged over 4.2 lakh Real Estate housing units since it was founded in 1977. in the same way, as stated by the 2007 figures portrayed on the website of Delhi Development Authority ( DDA )), the agency that is in charge of the expansion and housing requirements of Delhi, has chosen a total of 3,67,724 flats (counting the re-allotment of covered and canceled flats). In Gujarat, a back-of-the-envelope analysis points to an annual demand of at least 1,40,000 housing Property in Ahmedabad alone. In the previous recession or so, over 600-odd acres of terra firma going to GHB has been idling in 24 diverse urban centers of the state. This comprises over 110 acres of land in Ahmedabad, Surat (63 acres), Vadodara (73 acres) and Bhavnagar (46 acres), and Jamnagar (62 acres).

Tagged as: accent, ahmedabad, building homes, chairman, colorful-list, colorful-shading, development, gujarat, gujarat-housing, highly-vigorous, medium-list, property, shading, society, state

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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.

Tagged as: city, faridabad, gurgaon, haryana, licence, office, property, real estate, real estate india, real estate trends, registration, seller, state

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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.

Tagged as: haryana, payment, real estate developers, state

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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: delhi, faridabad, real estate, real estate india, real estate trends, state

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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: faridabad, gurgaon, investments, real estate, real estate india, said-the-major, sold-at-market, state

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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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Government May Soon come up with Reformed FDI Agenda

by Paul Joseph May 14, 2011

The government is believed to be giving final touches to the proposal for allowing foreign direct investment (FDI) in multibrand retail, in a decision to go ahead with its reform agenda. However, in order to not incite large-scale protest and opposition, it has decided to open the sector in a “calibrated manner”. The final report, being prepared by the Department of Industrial Policy and Promotion (DIPP) under the Ministry of Commerce and Industry, has got the much-needed approval from all other ministries concerned. However, DIPP is still fine-tuning the proposal, to avoid public ire. According to senior officials, the UPA government would now pursue its reform agenda more aggressively, since its alliance gained considerable foothold in the state elections. Opening multibrand retail to FDI is one such item. “It will not be done all of a sudden but in a calibrated manner. We have zeroed on some preconditions that would be made mandatory for the foreign retailers to follow. Some of them are already operating in the country (in single brand and wholesale cash and carry) for some years now and they have no issues with the conditions,” a top government official, told Business Standard. The official also said the government is soon going to convene a high-powered meeting on the issue with all the stakeholders. After the meeting, the proposal would be forwarded to the Cabinet. The government is likely to put a condition to the foreign retailers, of investing a minimum of $100 million, of which $50 million would be kept aside for supporting back-end infrastructure such as warehouse, cold-storage and transportation, among others, depending on the state governments’ decision. Retailers would not be allowed to set up shops in cities with a population of less than a million. Under the present norms, the government currently allows 51 per cent FDI in single-brand retail and 100 per cent in wholesale cash-and-carry operations. It is prohibited in multibrand. Last year, the government also removed the condition that wholesale trading made to group companies must be utilised for internal use. However, the government has not removed the clause that such sale of goods internally should not exceed 25 per cent of the total turnover of the wholesale venture.

Tagged as: business, delhi, foreign, group-companies, ministries, ministry, mumbai, noida, proposal, state

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Property prices may correct within a year, says CREDAI

by Paul Joseph April 30, 2011 Uncategorized

Image by Ravi Karandeekar via Flickr Property prices in the state, especially in capital Bhubaneswar, may witness a correction within a year because of rapid building construction which is expected to surpass the demand. “Within one year, there will be additional 40,000 houses in and around Bhubaneswar, which I feel, will be above the demand. And with supply surpassing the demand, the

Tagged as: bhubaneswar, flickr, flickr-property, india property, karandeekar, may-witness, one-year, rapid-building, state, supply-surpassing, the-state, year-because

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