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Ikea to open 25 stores in India
Source: Business Standard Oct 08, 2015
Swedish home furnishing brand Ikea has drawn up a long-term plan to open 25 stores in the country. ... more
Depreciating rupee, appreciating NRI realty market
Source: Financial Chronicle Oct 08, 2015
NRI's are taking maximum advantage of the current scenario as the cost of buying property in India has come down by 20-25 per cent ... more
Eden launches first FDI funded project in Kolkata
Source: Financial Chronicle Oct 01, 2015
Buoyed by the success of the first phase, Eden Real Estates is coming up with the second phase (phase-II) of Eden City Maheshtala, the first FDI-funded real estate project in Kolkata. ... more
Why festive season is the ideal time to buy a home
Source: The Times of India Oct 01, 2015
Experts believe that the real estate sector has a lot of unsold inventory in the luxury space but not in the affordable housing space where there is a major supply shortfall.Experts believe that the real estate sector has a lot of unsold inventory in the luxury space but not in the affordable housing space where there is a major supply shortfall. ... more
Internet is changing the ways of real estate operation
Source: Financial Chronicle Oct 01, 2015
Technology has made everyone shift from traditional ways of living and working. With various advancements that keep taking place every now and then, all major industries like banking and real estate are now focusing on a strong online presence to cater to the needs of their customers. ... more
UK team to help New Town prepare Smart City plan
Source: The Hindu Business Line Oct 01, 2015
The UK's Future Cities Catapult (FCC), which is a centre of excellence on urban innovation, has started a three-month project to help New Town prepare a road map for its bid for the Smart Cities project. ... more
Finance ministry to compile list of projects for foreign governments
Source: The Economic Times Oct 01, 2015
Narendra Modi government's version of the project monitoring group set up by its predecessor to get stalled infrastructure development moving again. ... more
West Bengal keen to reclaim unused land
Source: The Times of India Sep 10, 2015
Jalpaiguri has the highest number of land-locked closed industries, about 16,000 acres as per a recent government survey followed by Nadia and North 24-Parganas. The state government plans to unlock these huge tracts of land to develop alternative industries across the state. The group of ministers has been formed recently to work out as to how the land could be freed from closed industries and utilised for developing alternative industry units with an objective to develop more employment opportunities before the next assembly elections. ... more
US companies may partners with West Bengal for smart cities
Source: The Times of India Sep 10, 2015
With four smart cities coming up in Bengal, US based multinationals like HP, Cisco and Otis have shown interest in partnering with the state. According to sources, these companies are actively looking into technological collaboration with the state government agencies to get the proposed smart cities rolling. ... more
Rajarhat green buildings to house govt offices
Source: The Times of India Aug 29, 2015
In a bid to develop Rajarhat New Town as a green and smart city, the Housing Infrastructure Development Corporation (Hidco) will set up two new utility buildings in the township that will be developed as green buildings. The new buildings will be set up following specifications recommended by the green building technical committee of the state urban development department. Two utility buildings have already been constructed in the township. Each of the new buildings will have an area of 1,500 square metres. ... more
4 municipalities get smart city clearance
Source: The Times of India Aug 29, 2015
The Centre has cleared the names of four municipalities — Salt Lake, New Town, Haldia and Durgapur — to be developed as smart cities on 27th August. Under the smart city scheme, 100 cities will be developed. State urban development secretary Debashis Sen said, "We came to know from Delhi that our proposal was approved and now we are selecting consultants for developing the smart cities. The consultants will design the smart city plan and the cities will get 20% of the project money right after approval. ... more
Source: The Times of India Aug 29, 2015
People in their middle age, who have not managed to buy a house until now, can now get a long-term loan with ICICI Bank introducing a product for this segment.This has been made possible with the help of a guarantee from a company promoted by National Housing Bank and US insurer Genworth Financial. Unlike standard loans which are not available beyond the retirement date of a borrower, ICICI Bank's Extraa Home Loans al lows home loans that are re payable up to 67 years of age. ICICI Bank has tied up with the newly promoted India Mortgage Guaran tee Corpora tion (IMGC), which will guarantee the repayment of the loan. The fee for the guarantee, around 1% of the loan amount, will be built into the EMIs. Now, bor rowers up to 37 years of age can avail of a 30-year loan. ... more
Kolkata home buyers need affordable properties
Source: The Times of India Aug 27, 2015
Kolkata home buyers are looking for affordable properties, reveals the latest edition of the Housing Sentiment Index (HSI), Apr-Jun 2015, a joint initiative by IIM-B and Magicbricks. As per the report, respondents have favoured the Rs 20-40 lakh and below Rs 20 lakh categories as the most preferred price range at 37 per cent and 28 per cent, respectively. Interestingly, both these categories have noted a dip in sentiments, which means buyers in Kolkata are expecting property prices to fall further. Take a look at the affordable properties of Kolkata. ... more
Now get e-sanction of building plans in Kolkata in 45 days
Source: The Times of India Aug 25, 2015
The long awaited initiative to sanction building plans online has now become a reality in Kolkata with Mayor Sovan Chatterjee launching the initiative on 19th August.Online sanctioning of plans is expected to reduce the time taken to sanction a building's plan. With this initiative the existing time to acquire approval for building plan would be reduced from the existing limit of 3 months to 45 days. Three applicants have already received online sanctions for buildings in Swinhoe Lane and Canal Road (south) on 19th August. ... more
KMC revives Bypass land-sale plan
Source: The Times of India Aug 25, 2015
The Kolkata Municipal Corporation (KMC) will undertake a re-tender process to sell a huge chunk of land off Eastern Metropolitan Bypass. The KMC authorities in August 2014 had invited a tender for the sale of the land behind Silver Spring but had to retreat as there was hardly any bidder. ... more
Affordable homes offer $11.8 billion opportunity for builders
Source: The Times of India Aug 25, 2015
Affordable home segment presents a business opportunity worth USD 11.8 billion for developers across seven major cities of the country, according to property consultant Cushman and Wakefield. Cushman and Wakefield (C&W) has pegged the demand for affordable housing at 5,35,400 units across Delhi-NCR, Mumbai (MMR), Bengaluru, Chennai, Hyderabad, Kolkata and Pune. ... more
Tips for NRIs seeking to invest in Indian real estate
Source: Financial Chronicle Aug 23, 2015
Non-resident Indians (NRIs) and persons of Indian origin (PIOs) are entitled to investing in residential real estate in the country, as per guidelines issued by the Reserve Bank of India. According to the ministry of overseas Indian affairs, Indias constitute the second-largest Diaspora in the world after the Chinese settled overseas. ... more
New supply hits Kolkata’s Rajarhat and neighboring
Source: The Times of India Aug 05, 2015
Rajarhat a neighbourhood locality to Kolkata city, is known to be a fast growing and well-planned city state. The satellite city is highly preferred in real estate terms. It has been experiencing investments from people of the state capital and other areas of West Bengal. ... more
Digital Rush
Source: Financial Chronicle Jul 23, 2015
Call it generational advantage. There was a time, not too long ago, when the Indian consumer shopped for the very barest necessities, groceries, food items and the little conveniences of life, on the mobile phone. That itself represented a change from the days of mom-pop stores, where the basics were ordered on the landline. Then came the purchase of fashion and electronic goodies on the mobile, which was a further improvement. ... more
Prices falling, sector hopeful for revival
Source: The Times of India Jul 03, 2015
For the past half-decade, the real estate sector had been reeling heavily under the severe pressure of decreasing demand, slowdown in economy and soaring property prices across the country, primarily in metro regions such as Delhi/NCR, Bengaluru, Kolkata, Mumbai and others.It was just a matter of time when the saturation would be reached and customers will start disappearing from the market. Indian realty sector had really started to witness such a scenario where the demand for property was actually hanging by a thread and customers were unable to buy a property due to unaffordable prices and economical dampness. ... more
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