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Top 3 areas in Kolkata with new housing stock
Source: The Times of India Jul 03, 2015
Are you contemplating to invest in Kolkata? Unsure about the locality? Wondering whether you should invest in the city? It seems to be a good time to invest in the city. Localities such as Garia, Behala and Tollygunge are offering the highest number of new residential projects. Not just a lot of options, the budget range and configuration of residential units is also varied. Buyers and investors have the luxury of preference of new and under-construction projects. According to the data with Magicbricks, the above mentioned localities offer over 40 new projects housing apartments, house and villas.Here’s a summary of what you can expect in: ... more
Things have started to gain momentum
Source: Financial Chronicle Jul 03, 2015
The year started on a cautious note as the real estate industry in India continued to suffer from oversupply, low absorption levels and rise in unsold inventory along with high prices. The business confidence of the sector slightly improved with the home buyers preferring to invest in larger homes across cities.The improvement in economic conditions along with government policies and initiatives towards increasing the purchasing capacity of the individuals will most likely pave the way for faster growth in the coming months. ... more
West Bengal govt's policy for theme townships
Source: The Times of India Jul 01, 2015
The state government has come up with the terms and conditions for developers and investors to follow for setting up theme based townships. The proposed theme based townships will be developed based on the new 'Township Policy' that encourages developing theme based townships with special focus on economic activities as well as providing housing for all. ... more
Centre plans to give Rs 25,000-30,000 crore for road development to West Bengal
Source: The Economic Times Jun 25, 2015
Centre is planning to give Rs 25,000-30,000 crore bonanza for road infrastructure to West Bengal. 'We want to give another Rs 25,000-30,000 crore to West Bengal for new highways,' Union minister for Roads and Transport Nitin Gadkari said today at an event at Biodiesel dispensing unit at Haldia Dock Complex. ... more
'Housing for all by 2022' scheme gets approval
Source: The Hindu Business Line Jun 18, 2015
The Government has paved the way for the launch of 'housing for all by 2022' scheme aimed at the urban poor. A decision to this effect was taken by the Union Cabinet on Wednesday. ... more
The 'view' that sells properties
Source: The Times Of India Apr 24, 2015
One of the renowned developers in East Coast Road (ECR), Chennai is asking between Rs 70 lakh and Rs 1 crore for 2 and 3BHK apartments with a sea-view while another developer in Bangur Nagar, Mumbai is demanding around Rs 80 lakh for 1BHK flats with a sea-view. ... more
Solar panels to give green cover to govt buildings in Kolkata
Source: The Times Of India Apr 24, 2015
The state government has decided to install rooftop solar panels in as many government buildings as possible across the state so that at least one fourth of the total power demand of these buildings can be met through the alternative route. ... more
India Infoline Housing Finance cuts home loan interest rate by 25 bps to 9.90%
Source: The Financial Express Apr 16, 2015
Private sector housing finance company India Infoline Housing Finance Ltd (IIHFL) has cut the interest rate on its home loans by 25 basis points to 9.90%, from 10.15% earlier. The reduced rates will be applicable with immediate effect. ... more
Tata Housing likely to invest Rs 2,000 cr on new projects in 2015
Source: Hindustan Times Apr 16, 2015
Banking on falling interest rates and a reviving economy to boost a thus-far sluggish housing market, Tata Housing Development Company (THDC)plans to launch at least 10-12 new properties this year, up from about seven in 2014. ... more
Kolkata: Where to find home in your budget
Source: The Times Of India Apr 14, 2015
Majority of the buyers in Kolkata were looking for properties worth Rs 20-40 lakh during the Jan-Mar 2015 quarter, according to the data available with Magicbricks. Its supply however remained low across the city. But home buyers need not be disappointed as Magicbricks brings you the list of localities which have availability of properties within the said budget. ... more
Government plans two immersed tunnels through sea, river in Andaman & West Bengal
Source: The Economic Times Apr 14, 2015
India may get the first two immersed tunnels through sea and river in the next few years. The shipping ministry has envisaged these projects — one between Kakdwip and Sagar island in West Bengal and the other connecting Chatham and Bamboo Flat in Andaman Nicobar islands. ... more
Why you should invest in a second home?
Source: The Times Of India Apr 13, 2015
There is no doubt in the fact that real estate price appreciation is not just beating the inflationary pressure but is also offering the buyer good returns provided that the location and policies favor the realty eco-system. ... more
Guidelines to NRIs for buying property in India
Source: The Times Of India Apr 13, 2015
Thrilled by the steps taken by the central government, there are many Non Resident Indians (NRIs) or Person of Indian Origins (PIO) who are looking to invest in the real estate market of India. However, many remain unaware of the procedures and implications related to property purchase. ... more
Kolkata: Where to invest Rs 43L to earn Rs 2L per year
Source: The Times Of India Apr 10, 2015
If you are an investor looking to earn healthy rental returns in Kolkata, then investing in Tollygunge and Narendrapur can be a viable choice for you. According to the data available with Magicbricks, these localities are currently offering some of the highest rental returns in the city. ... more
Industry welcomes Real Estate Regulatory Bill
Source: The Times Of India Apr 09, 2015
Manoj Gaur, MD Gaursons India Ltd. & President CREDAI Western UP: We welcome the nod on the Real Estate bill from the cabinet as it will send out the positive signs. This bill will help in keeping a check on the developers who are indulge in the malpractices which is effecting the image of the sector among the buyers and investors as well. It would have been much appreciated if the Real Estate Regulatory Authority was granted limited controlling authority. However, we will propose our inputs to the government which can be added in the bill to make it more effective from the buyers and developers point of view? ... more
Good news for home buyers! Nod for amendments to Real Estate Bill
Source: The Times Of India Apr 09, 2015
The Union Cabinet has approved the Real Estate Development and Regulation Bill along with certain key amendments that will make way for setting up of a regulator for the sector. The Bill and a uniform regulatory mechanism across the country are aimed at protecting property buyers' interest by bringing in much-needed transparency and accountability into the sector. ... more
Jadavpur witness a consistent rise in rental values
Source: The Times Of India Apr 09, 2015
Are you looking to earn regular rental income? Try investing in the buy-to-let properties of Jadavpur. The locality not only promises a regular flow of income but a consequent rise of rental income as well. According to the data available with Magicbricks, rental values in the area have been consistently rising for the last nine months. Take a look! ... more
Home loan rate of 8-9% can trigger real housing recovery: Credai
Source: The Economic Times Apr 09, 2015
Reducing home loan rates to 8-9% can improve buyer sentiment and trigger a recovery in the housing sector, Getamber Anand, the newly elected president of industry body Confederation of Real Estate Developers Association of India (CREDAI), has said. "Single-digit home loan rates coupled with the festive season will surely bring fence-sitters to the market and boost housing demand from October this year," Anand said on Tuesday. ... more
Kolkata No. 3 in super-rich count
Source: The Times Of India Apr 05, 2015
Kolkata is now home to India's third highest chunk of millionaires - with net assets of $1 million or more. Just days after TOI revealed that Kolkata has recorded a higher percentage increase in the number of super rich - worth $10 million - higher than Asia Pacific heavy weights like Tokyo, Seoul, Singapore and Hong Kong, a fresh wealth analysis of India's cities has revealed that Kolkata has more millionaires that Hyderabad, Bangalore, Chennai and Pune. ... more
Primarc’s green residency in Kolkata
Source: Financial Chronicle Apr 02, 2015
Kolkata headquartered Primarc Group, jointly with MCK group, is coming up with eastern India’s first gold rated green residential building, called Astitva, at Kankurgachhi in north Kolkata. The residential complex is being built on a total land area of 9,870 square metres with a built-up area of 25,681 square metres. Astitva will house 115 residential apartments spread across three towers (B+G+XVI). The overall cost of the project is Rs 120 crore, divided between equity (15 per cent), inter corporate deposit (5 per cent), sales advances (80 per cent). ... more
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