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Jain Group launches Dream Valley in Siliguri
Source: Financial Chronicle Mar 19, 2015
Kolkata-based Jain Group is coming up with what the developers claim is Siliguri’s first five-star residential project, called Dream Valley. “This luxurious home in Siliguri is as much a five-star resort as it is a residential complex with breathtaking views, world class amenities and a serene living atmosphere,” said Jain Group officials. ... more
Design trend: Natural and minimalist are in vogue
Source: Financial Chronicle Mar 19, 2015
The interior design segment in India is undergoing a sea change with global trends, designs and materials finding a place in our living spaces, and at the same time as the rest of the world. Indians today are well-travelled and want nothing short of the best and the latest for their abodes. ... more
Land Acquisition Bill likely to be passed this week: Minister
Source: The Hindu Business Line Mar 16, 2015
Environment Minister Prakash Javadekar today expressed confidence that the amended Land Acquisition Bill will be passed by the Rajya Sabha this week. He said two others bills, the Coal Bill and the Mines, are also likely to be passed by the Upper House next week. ... more
Home loan: RBI reduces burden on buyers, industry calls move ‘insufficient’
Source: Financial Express Mar 16, 2015
If the Budget turned out to be a non-event for the real estate sector except for benefits to Real Estate Investment Trusts (REITs), the Reserve Bank of India last week offered some relief to home buyers, especially those belonging to the low-income category and for houses that may fall in the affordable category or in Tier II and Tier III cities. ... more
Lok Sabha clears Land Acquisition Bill
Source: Business Standard Mar 11, 2015
The Lok Sabha on Tuesday cleared the contentious land acquisition Bill, along with nine amendments proposed by the government. Though these amendments convinced some National Democratic Alliance (NDA) partners to come on board, they failed to appease the Congress and most other Opposition parties, which walked out at the time of voting on the Bill. ... more
Union Budget 2015: A roof for all in India by 2022 with 24-hour power and clean water
Source: The Economic Times Mar 02, 2015
"A roof for each family in India by 2022" was the call given by the finance minister who announced a grand plan to build two crore houses in urban and four crore in rural areas by 2022. It would be led by the states and guided by the Centre. Arun Jaitley wanted each house to have 24-hour power supply, clean drinking water, a toilet, and be connected to a road. ... more
Hey NRIs - Here is how to manage loan liabilities in India
Source: MoneyControl.com Feb 18, 2015
Taking a loan in India for purchasing a residential property is not a tough task any more for NRI. They should take advantage of advancement in technology to manage their loan liabilities in India. ... more
GST- A positive development for Real Estate
Source: MoneyControl.com Feb 18, 2015
Real estate industry in India in the recent past has seen a phenomenal growth, not just in the Tier 1 cities, but even Tier 2 and Tier 3 cities and towns. The industry is in the cusp of increased regulations, with bills such as the Real Estate (Regulation and Development) Bill, pending for approval in the side lines. GST is another development that will have a significant impact on this sector. ... more
All central govt babus to file property returns twice for this year: DoPT
Source: Zee News Feb 18, 2015
All central government officials will have to file details of their assets and liabilities twice this year in the wake of implementation of the Lokpal Act. The first return under the Lokpal and Lokayuktas Act as on August 1, 2014 should be filed on or before April 30 this year, an order issued by the Department of Personnel and Training (DoPT) said. ... more
Brokers' body suggests dedicated fund for infrastructure projects
Source: The Economic Times Feb 17, 2015
In order to help mobilise money from the capital market for infrastructure sector, brokers' grouping ANMI has said the government should set up a dedicated fund for such projects and provide tax incentives on investments. ... more
As Rivals Falter, India's Economy Is Surging Ahead
Source: The New York Times Feb 17, 2015
China's economy is slowing. Brazil is struggling as commodity prices plunge. Russia, facing Western sanctions and weak oil revenue, is headed into a recession. As other big developing markets stumble, India is emerging as one of the few hopes for global growth. ... more
Transit-oriented realty gets the nod from DDA
Source: The Economic Times Feb 17, 2015
One of its most ambitious plans for vertical growth, transit-oriented development was approved by Delhi Development Authority on Monday . The policy incentivizes people living around Delhi Metro corridors for clubbing their lands and creating mixed-use, high-rise development pockets. Lakhs of Delhi's residents are expected to benefit and property rates along the Metro, already going at a premium, are expected to shoot. ... more
Singapore's GIC bets heavily on Indian realty
Source: Business Standard Jan 29, 2015
Singapore's sovereign wealth fund GIC, has bet highly on Indian real estate in the recent months. GIC, which manages assets worth $100 billion globally, has invested or committed Rs 2,500 crore in the many deals it has done in the past six months. GIC is ahead of Blackstone, another prolific global investor in Indian real estate, which has reportedly done deals worth about Rs 1,500 crore in six months. ... more
Real estate demand will come from second-time buyers: Pranay Vakil
Source: Forbes India Jan 29, 2015
Pranay Vakil, chairman at Praron Consultancy and founder of Knight Frank, is a long time observer and analyst of the brick and mortar business. So when he reassures Forbes India that, despite the five-year plateau in the market, there are still plenty of areas for growth, we stop and listen. ... more
Amazon, e-commerce rivals fuel commercial property boom in India
Source: The Star Jan 26, 2015
Internet retailer Amazon and its fast-growing local rivals are driving a boom in commercial property leasing in India as their storage needs rise, with shoppers in the country going online to buy everything from televisions to groceries. ... more
IPCs provide a helping hand to realty sector
Source: The Economic Times Jan 26, 2015
In a market still defined by significant lack of transparency, real estate consultancies play a complex and responsible role in all transactions, especially in case of high-value property assets. In large ticket sized transactions such as those involved in Grade A office spaces, there can be no margin for error. Transparency, ethics and accurate market information play an inalienable role in closing such deals. ... more
WALKING THE TALK - SECTOR BANKS ON FDI
Source: The Times of India Jan 17, 2015
To attract funds into the realty sector and achieve the objectives of faster job creation and housing for all, the NDA government has moved fast and relaxed foreign direct investment (FDI) norms. The new norms dropped the minimum 10-hectare cap for serviced housing plots and slashed the minimum floor area for construction of realty projects to 20,000 sq metres, from the earlier limit of 50,000 sq metres. ... more
INDUSTRY SPEAK - Industry gives thumbs up to Modi government
Source: The Times of India Jan 17, 2015
The industry has embraced the new FDI norms with open arms and is quite optimistic about the future. A part from other measures, the NDA government has announced some relaxations for companies using at least 30% of the total project cost to build affordable housing, to give impetus to the development of affordable housing. ... more
MoEF eases green norms for big bldgs
Source: The Times of India Jan 17, 2015
In a major simplification of rules, the building construction industry will no longer need to make trips to Delhi for environmental clearances (EC). This means a huge saving in terms of time, money and human resources spent on following up clearances for projects in Delhi. ... more
CREDAI chief says 'Yeh Dil Maangey More'
Source: The Times of India Jan 16, 2015
Hailing Reserve Bank Governor Raghuram G Rajan for announcing a cut by 25 basis points in its repo rate as a "good beginning", developers apex body CREDAI chairman and CMD of Kumar Urban Development Pvt Ltd, Lalit Kumar Jain said: "This is not enough." In fact, Jain called for a roll back of all liquidity tightening measures and easing the situation to make cost of funding for both home buyers and developers cheaper than what it is today. ... more
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