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Ghaziabad Based Project “Hi-tech City” in spotlight for acquisition of 8,700 acres of Land

by Paul Joseph July 22, 2011 Uncategorized

Fingers are now being raised at acquisition of 8,700 acres, spanning 18 villages in Ghaziabad, for a “hi-tech city” even as the Uttar Pradesh government faces flak for acquiring agricultural land for private builders in Greater Noida. This time, the land being acquired is for a modern township, the licence for which had been granted by the Ghaziabad Development Authority (GDA) to the Uppal Chadha and Sun City groups. The 8,700 acres comprise land owned by farmers and the government. The government land, also called community land or Gram Sabha land, is controlled by panchayats Former GDA member, Rajendra Tyagi alleges that around 450 acres of Government land has been illegally transferred to builders by GDA for the project against the rulings of the Allahabad High Court and the Supreme Court. “The Allahabad High Court had clearly stated in its October 1, 2007, order in the case of Crossings Republik that Government land cannot be resumed for private purposes under Section 117(6) of the UP Zamindari Abolition and Land Reforms Act, 1950,” Tyagi said. “The High Court, in its final order in the same case, had quashed the commissioner’s notification for resumption of Government land to transfer it to a private builder,” Tyagi added. Further, a Supreme Court order on January 28 declared that transfer of village community land for private and commercial use is illegal and directed the states to evict the encroachers, he said. “This amounts to a gross contempt of the orders not only of the high court but the Supreme Court too,” Tyagi said, adding, “We would soon approach the court on the issue”. According to him, village community land was transferred to the Hi-Tech builders at just Rs 1,100 per square metre which was then sold off to buyers at Rs 18,700 per square metre, while the integrated builders were selling the same priced land at Rs 35,000 per square metre. The administration is paying Rs 1,000 per square metre compensation to the farmers while an equal amount is being paid to them as “motivational fund”, which Tyagi says is not taken into account in the official records.

Tagged as: allahabad, commissioner, delhi, encroachers, faridabad, ghaziabad, home-loans, integrated, noida, real estate, real estate developers, time, tyagi, uttar-pradesh

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Now Pune edging out Hyderabad in realty race

by Paul Joseph July 9, 2011 Uncategorized

In Hyderabad, after Bangalore real estate and Chennai property , it’s Pune that appears to be beating Hyderabad in the real estate race. With ‘T’ agitations going off in the metropolis however, investors taken with putting their wealth on property in Hyderabad are currently turning to the Maratha terra firma in the hope of superior returns. In addition spelling fate for the one time booming sector are cash-rich investors and developers from external the state who are rapid falling Hyderabad property from their radar thanks to recurrent disruptions. Single in the midst of them is a Dubai-based group that was anticipated to invest an enormous Rs 100 crore in the local bazaar this year. The firm has at the present backtracked on its choice, sources remarked. While it relics to be observed if this large investor as well heads for Pune property , realtors here remark that they are certainly losing business to the tier-II city, which was one time mode behind it in the real estate market. And aside from Hyderabad’s pitiable industry ratings, which are at the moment on parity with little towns as Vadodara , it is Pune’s imposing IT development, affordable property prices and stable political atmosphere that’s pulling investors to its shores. In fact marketplace analysts from the metropolis utter that every corporate firms on development mode are at this time vying for space in Pune real estate as next to Hyderabad real estate. And realtors directly blame the government for this shift. They regret that it is the government’s incapability to take a decisive choice on the Telangana matter that has trusted property in Hyderabad ‘s one time thriving real estate story towards the graveyard.

Tagged as: bangalore real estate, chennai property, decisive-choice, every-corporate, government, hyderabad, investors-taken, maratha, metropolis, property in hyderabad, pune property, real, telangana, terra firma, time

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Supreme Court to Hear Sahara Plea against Sebi Order Tomorrow

by Paul Joseph July 8, 2011 Uncategorized

The Supreme Court will tomorrow hear the Sahara group firm’s plea against the SEBI order to return the money, along with 15 per cent interest, collected from investors through its Optionally Fully Convertible Debentures (OFCD) scheme. The plea would be heard by a three-member bench headed by Chief Justice S H Kapadia. Earlier on June 27, a vacation bench of the apex court, comprising Justices P Sathasivam and A K Patnaik, had declined to hear the plea of Sahara India Real Estate Corp and asked to list it before the Chief Justice, who has been hearing the case. Following the orders of the Supreme Court, the Security and Exchange Board of India (SEBI) had on June 23 directed the two Sahara group firms — Sahara India Real Estate Corporation and Sahara Housing Investment Corporation — to refund the money, along with 15 per cent interest, raised through OFCD scheme for violating regulatory norms. As per Sebi order, the two companies, promoter Subrata Roy Sahara and directors Vandana Bhargava, Ravi Shankar Dubey and Ashok Roy Choudhary jointly and severally, shall refund the money. Besides, the regulator has also restrained the entities from accessing the securities market for raising funds, till the time payments are made to the satisfaction of the SEBI. However, on May 12, the apex court had said that the Sebi directive would not take effect till its further order. During the last hearing on May 12, the apex court had asked Sebi to proceed with its probe into Sahara group’s OFCD scheme by observing that investors may not have any knowledge about these products and might feel cheated like in the Harshad Mehta scam. The court had also allowed the Allahabad High Court to proceed with its hearing, where the Sahara group has challenged SEBI’s direction to give details of its investors.

Tagged as: chief, delhi, exchange-board, india, investment, noida, real estate developers, real estate india, sahara-housing, sebi, supreme-court, time

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WordPress for webOS: A New Way to Blog

by Paul Joseph July 1, 2011 Uncategorized

It’s a new way to blog, on a new type of platform. Today we’re excited to share a glimpse of the future for all the WordPress mobile apps. Drumroll please! I give you WordPress for webOS , available as a download for the HP TouchPad with support for more webOS 3.0 devices coming in the future. Here’s the run-down: It’s the first official WordPress app to have a full featured WYSIWYG ( what’s this? ) post editor. The app has been translated to all languages available on the TouchPad. It uses a “Sliding Panels” interface, which takes full advantage of the larger screen of the TouchPad and makes for fast and easy blog management on the go. Check out the video below to learn more! Of course the app also features everything else you’ve come to expect from a WordPress app. You can manage posts and pages, as well as add new ones. Moderation is built right in, and you can even reply directly to comments. If a comment comes in and you’re working on something else with your TouchPad at the time, you’ll get notified about it. Peruse the Stats panel for in-depth information on what your visitors like the most about your site. Another neat thing about this app is its use of “Cards”. This is a webOS invention that lets you stack screens belonging to the WordPress app in a single pile, making it very easy to, for instance, write a post while keeping the main window open. In fact, if you tap an email address in a comment, a compose email card will be stacked together with those of the app. Learn more about WordPress for webOS at webos.wordpress.org and follow @WPwebOS on Twitter for the latest news! Are you rocking a TouchPad? You can download WordPress for webOS directly on your device using the HP App Catalog. Just search for “WordPress”. Visiting on a device? Follow this link to download . Get involved! Just like all the other official WordPress apps, WordPress for webOS is an Open Source project that craves your mad programming skills. Head on over to the development section to learn more. Huge thanks to Beau Collins for some major webOS pwnage. We’d also like to thank our partners at HP for making all of this possible. So, what’s your favorite invention in WordPress for webOS? Comment detail view with a few comments pending moderation. Compose card using the WYSIWYG editor. Post detail view. The main sliding panel is collapsed. Stacked cards and notifications example.

Tagged as: access-the-app, app, development, download-word, info-at-webos, mobile, sliding-panels, source, time, touch, touchpad, video, webos, wordpress for webos, wordpress mobile

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Mantri Developer Announces New Residential Project in Chennnai

by Paul Joseph June 22, 2011

After the success of its first residential project in Chennai – Mantri Synergy, Mantri Developers announced the launch of their new project named Mantri Navaratna. Located at Chromepet, Mantri Navaratna comprises nine aesthetically designed apartment towers planned in accordance to principles of contemporary architecture that endeavor to be a reflection of a modern lifestyle. Speaking on the occasion of the launch, Sushil Mantri, chairman & managing director, Mantri Developers Pvt Ltd, said, “At Mantri Developers we always strive create a legacy of excellence for our discerning customers. Today, the need of the time is energy efficiency which is on the priority list for all home improvement work these days and Mantri Navratna endeavors to provide homeowners with energy efficient measures that will not only save costs for customers but also contribute towards saving our planet. ” Mantri Navaratna offers a diverse choice of apartments in the range of 1, 1.5, 2, 2.5 and 3 BHK with each unit designed to receive maximum sunlight and ventilation. The project offers a total no of 272 apartments with stilt + 4 floors with a price starting from Rs.22 lacs onwards. Another key highlight of the project would be the strategic locational advantage as Mantri Navaratna is centrally located with excellent connectivity to the Chennai international airport, railway station, bus-stop and is in close proximity to the Old Mahabalipuram Road, IT SEZ at Porur and CBD Chennai. The project offers buyers a range of amenities that include a well equipped gym, landscaped gardens with paved garden walk, jogging trail, children’s play area and an outdoor exercise area. Also understanding their responsibility towards environment, Mantri Navaratna will have recycled water utilisation and rain water harvesting.

Tagged as: bangalore, close-proximity, mantri-navaratna, mantri-navratna, property prices, strategic, time

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Mantri Developer Announces New Residential Project in Chennnai

by Paul Joseph June 22, 2011

After the success of its first residential project in Chennai – Mantri Synergy, Mantri Developers announced the launch of their new project named Mantri Navaratna. Located at Chromepet, Mantri Navaratna comprises nine aesthetically designed apartment towers planned in accordance to principles of contemporary architecture that endeavor to be a reflection of a modern lifestyle. Speaking on the occasion of the launch, Sushil Mantri, chairman & managing director, Mantri Developers Pvt Ltd, said, “At Mantri Developers we always strive create a legacy of excellence for our discerning customers. Today, the need of the time is energy efficiency which is on the priority list for all home improvement work these days and Mantri Navratna endeavors to provide homeowners with energy efficient measures that will not only save costs for customers but also contribute towards saving our planet. ” Mantri Navaratna offers a diverse choice of apartments in the range of 1, 1.5, 2, 2.5 and 3 BHK with each unit designed to receive maximum sunlight and ventilation. The project offers a total no of 272 apartments with stilt + 4 floors with a price starting from Rs.22 lacs onwards. Another key highlight of the project would be the strategic locational advantage as Mantri Navaratna is centrally located with excellent connectivity to the Chennai international airport, railway station, bus-stop and is in close proximity to the Old Mahabalipuram Road, IT SEZ at Porur and CBD Chennai. The project offers buyers a range of amenities that include a well equipped gym, landscaped gardens with paved garden walk, jogging trail, children’s play area and an outdoor exercise area. Also understanding their responsibility towards environment, Mantri Navaratna will have recycled water utilisation and rain water harvesting.

Tagged as: chennai, discerning, hyderabad, launch, mahabalipuram, mantri-developers, project, project-offers, property prices, railway-station, real estate, receive-maximum, time

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250 Indian Projects to feature at Dubai Expo

by Paul Joseph June 6, 2011 Uncategorized

Dubai: More than 250 projects worth $2200 million will feature at an upcoming Indian real estate show in Dubai. The eighth edition of the Indian Property show is scheduled from June 16 to 18 at Dubai World Trade Centre. Organised by Sumansa Exhibitions, the show is expected to generate business worth $58 million, a statement said. Seventy per cent of the projects at the exhibition are residential while 30 per cent offer commercial and retail space, it added. Visitors will be able to look at a spectrum of properties available, different investment options, financing sources, Vaastu consultations and sorting out legal queries. “The Indian property show connects buyers and developers at an opportune time, with the Rupee slated to be strong against the dollar and demand for property at a high, we will again witness rise in property prices in India in near future and hence this is a right time for the investors to buy the property,” said Sunil Jaiswal, CEO Sumansa Exhibitions. “Also those keen to expand their financial portfolios with real estate as a hedge against rising inflation and those looking to maximize their ROI should definitely visit Indian Property Show.” “Buoyant with the response we received last time, we decided of making this show biannual this year. Investors, buyers and Developers all have encouraged us to hold the show again after 6 months. The last show saw more than 17000 visitors; we expect a similar response this time as well,” he added. The exhibition also features property and investment seminars by property industry gurus, international fund managers, and legal advisers. This year the seminars aim to guide the buyers on the booming real estate markets within India along with the benefits of investing now. Anuj Malik, sales head, GCC for Unitech , one of the prime exhibitors at Indian Property Show, said: “ The global meltdown, unrest in few parts and job uncertainty may have also prompted the NRI’s in UAE to buy property in India. Catching up on these trends Indian realtors is going that extra mile to make homes that fulfill individual’s aspirations and are still affordable.” “We are participating in the upcoming Indian Property Show with aggressive pricing of INR17 lacs ($38,000) onwards and providing all options such as first time buy, second home, investment option, budget homes & holiday homes.” Ajay Sachdewa, regional head-Dubai & GCC, HDFC, a leading India-based bank, said: “Through this exhibition we plan to meet potential customers and we foresee a strong demand as Indian property market has revived very quickly as compared to other markets in the world.” “This is due to strong RBI policies, Government planning and healthy credit history. HDFC has made it easier for the Gulf based NRI’s to apply for a loan to HDFC – India.” “HDFC through its office in Dubai and all the GCC countries through Service Associates, now offers advisory services in real estate finance to the Middle East based Non-Resident Indians who wish to acquire homes in India. These offices will coordinate the entire loan process in India,” he added.

Tagged as: dubai, financial, government, india-catching, indian, markets, middle-east, real estate, real estate india, time, uae, year

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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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Realty Sales Affected in Summers

by Paul Joseph May 24, 2011 Uncategorized

Summer indicates a calmness for the real estate sector as transaction volumes take a downward leap. The trend is clear seeing that estate project launches have been the least during the second quarter from 01st April 2011 to 30th June 2011. As many as 46,093 high rise apartments were launched between January 2005 till December 2010. Of these, the highest launches were during the third quarter (July to September) when over 41% highrise homes were announced in the city. In contrast, the lowest launches came in the second quarter when the launch of only 5,448 apartments that is 11.82 % were launched. When asked why home buyers postpone purchases, real estate analysts blames it on the roasting heat and summer vacations. “It is true that transaction volumes are lesser during the summer months. This is a time when the weather is not inspiring for buyers . Moreover, since summer vacations are the longest, many families go out of town for holidays. People wait for the Navratras and Diwali as they consider this time to be auspicious which falling in the third and fourth quarters respectively. Also, as the weather is acute, many people feel this is not an appropriate time to shift into a new home. Also, since children are already into their new academic year, parents do not want to make a change. According to the launch figures, the next highest number of launches of 13,814 apartments comes in the first quarter. Also, over 16 per cent announces were seen in the last quarter from October to December. The phase from January to March is the time for financial closures and, hence, it boosts transaction volumes. On the other hand, the winter months see a large inflow of non-resident Indians arriving back in India to visit relatives. The transaction volumes at this time are mainly due to NRI purchases .

Tagged as: analysts-blames, been-the-least, city, india, launch, navratras, property news, real estate, rise-apartments, since-children, summer, time, weather, winter

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Realty Feels the Heat: Sales Affected in Summers

by Paul Joseph May 23, 2011 Uncategorized

Summer spells a lull for the real estate sector as transaction volumes take a downward plunge. The trend is clear considering that estate project launches have been the least during the second quarter from April 1 to June 30. As many as 46,093 high rise apartments were launched between January 2005 till December 2010. Of these, the highest launches were during the third quarter (July to September) when over 41% highrise homes were launched in the city. In contrast, the lowest launches came in the second quarter when the launch of only 5,448 apartments (11.82 %) were announced. When asked why home buyers defer purchases, real estate analysts blame it on the scorching heat and summer vacations. “It is true that transaction volumes are lesser during the summer months. This is a time when the weather is not encouraging for buyers. Moreover, since summer vacations are the longest, many families leave town to beat the heat. People wait for the Navratras and Diwali (which falling in the third and fourth quarters respectively) as they consider this time to be auspicious,” said Santosh Kumar CEO (operations), Jones Lang LaSalle, India. Despite figures indicating a clear trend, builders are hesitant to acknowledge the fact. Ravi Saund head (business development) of CHD Developers, said, “As the weather is severe, many people feel this is not an appropriate time to shift into a new home. Also, since children are already into their new academic year, parents do not want to make a change. Also, customers prefer not to venture out to look at property in such weather.” According to the launch figures, the next highest number of launches of 13,814 apartments comes in the first quarter. Also, over 16 % launches were seen in the last quarter from October to December. “The phase from January to March is the time for financial closures and, hence, it boosts transaction volumes. On the other hand, the winter months see a large influx of non-resident Indians arriving back in India to visit relatives. The transaction volumes at this time (winter months) are mainly due to NRI purchases,” said Dr Sanjay Sharma, MD, QuBREX.

Tagged as: bangalore, been-the-least, chennai, kolkata, navratras, noida, real estate trends, retail market in india, santosh-kumar, time

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