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More than 10 companies line up to start REITs
Source: Hindustan Times Jul 15, 2014
In the wake of the budget proposal last week, several real estate companies and private equity funds are planning to list their commercial property portfolio through the real estate investment trusts (REITs) in the near future. These include Embassy group, DLF, RMZ Corp, Xander, Red Fort Capital among others, all of which have accumulated income generating commercial assets. ... more
Realtors hail RBI move to ease norms for affordable housing
Source: The Economic Times Jul 15, 2014
Realtors' body CREDAI today hailed the RBI's move to ease norms for banks to raise long term funds for financing affordable housing, saying this will lead to cheaper credit for such projects. In order to encourage infrastructure development and affordable housing, RBI today exempted long term bonds from mandatory regulatory norms like CRR and SLR if the money raised is used for funding of such projects. ... more
Budget 2014: Glass half full for real estate
Source: The Times of India Jul 13, 2014
As the much-awaited Union Budget 2014-15 got tabled in the parliament, the real estate sector was left in the lurch as some of its expectations were fulfilled, while some were left out. “Finance Minister Arun Jaitley’s maiden budget was a glass half empty and half full with hope. However, some expectations are left out,” says Lalit Kumar Jain, chairman, CREDAI while describing the budget. ... more
Industry reacts on Jaitley’s maiden budget
Source: The Times of India Jul 13, 2014
As Finance Minister Arun Jaitley tabled maiden budget in the parliament, the expectations of real estate industry soared high. Industry stakeholders welcomed the much anticipated Modi govt budget and desires for more “Acche Din”. Brotin Banerjee, MD & CEO, Tata Housing – “Tata Housing Development Company (THDC) welcomes the announcement of the Union Budget 2014-15. Focusing on fiscal prudence, this budget has introduced proposals that may help to kick-start investments in the real estate sector. ... more
Luxury housing catches home buyers’ fancy
Source: The Times of India Jul 13, 2014
One of the richest among immigrants today, Indians spread over 200 countries have travelled widely, assessed choices and thanks to their experiences, such tastes have enriched and encouraged local real estate developers to replicate constructional and technological improvements in the Indian scenario. ... more
Huge opportunities exist for India infra to go the greener way: Amory Lovins
Source: The Hindu Business Line Jul 13, 2014
A top US-based environment scientist outlined the importance of developing the new infrastructure in the country using green techniques. Speaking at an interactive meeting hosted by the CII Green Building Council, Amory B. Lovins, Chief Scientist and Chairman Emeritus, Rocky Mountain Institute, Colorado underlined that since most of the infrastructure in India is yet to be built, there is substantial opportunity for India to go the greener way. ... more
Realty sector looking for better days
Source: The Times of India May 30, 2014
The Union minister for Housing and Urban Poverty Al leviation, M Venkaiah Naidu, promised that the top priority of his ministry would be to set up 100 new smart and safe cities in the country. Another priority is housing for all by 2020 for which Public Private Partnership (PPP) as well as Corporate Social Responsibility (CSR) will be encouraged. ... more
How to boost the value of your property
Source: The Times of India May 30, 2014
A cleaner and healthier environment has a direct impact on property values. This is something that Magicbricks’ data analysis has consistently thrown up. Localities have witnessed as much as 20 per cent hike in values due to their healthier and greener environments. ... more
Salt Lake most preferred rental locality in Kolkata
Source: The Times of India May 30, 2014
Salt Lake, considered to be the bustling IT hub of Kolkata, has retained its top position for two consecutive quarters (Oct-Dec 2013 and Jan-Mar 2014) in the list of most preferred rental localities in the city, according to PropIndex, the quarterly research publication of Magicbricks. The locality also saw a 6 per cent rise in the rental values in the Jan-Mar 2014 quarter. ... more
Housing for all by 2022 Narendra Modi govt's motto, CSR push by private sector desirable: Venkaiah Naidu
Source: The Financial Express May 30, 2014
Highlighting the priorities of his ministry, Union Minister for Urban Development, Housing and Poverty Alleviation Venkaiah Naidu today said private sector as part of their social responsibility should go for housing for their staff. ... more
CREDAI, NAREDCO’s wish list for Modi govt
Source: The Times of India May 26, 2014
With Narendra Modi swearing-in as the Prime Minister of India today, NAREDCO and CREDAI, the national level real estate key bodies representing all stakeholders shared their wish list. ... more
57% of Indians think next 30 days good time to buy real estate
Source: The Economic Times May 26, 2014
Nearly 60 per cent of Indians think that next one month would be a good time to buy real estate with improvement in consumer sentiments following formation of a stable government, according to a survey by global research firm Ipsos. ... more
ICICI Bank announces cut in home loan rates
Source: The Times of India May 21, 2014
ICICI Bank, the largest private sector lender, has announced a 0.10 per cent reduction in home loan rates for a limited period, bringing them on par with bigger rival State Bank of India. ... more
West Bengal government gears up Rs 600-crore projects
Source: The Economic Times May 21, 2014
With the election season over, the West Bengal government is back with proposals for projects worth Rs 600 crore in gems and jewellery and food parks.State's Finance Minister Amit Mitra said after a meeting of the Cabinet Committee on industrial reconstruction that 14 plots had already been sanctioned for the purpose offering employment opportunities for nearly 20,000 people. ... more
Real estate expects industry status in Modi’s rule
Source: The Times of India May 18, 2014
The real estate sector has been yearning for the industry status for long now. After facing disappointment time and again, the sector now expects this move from the new government, which in most probabilities is going to be the NDA-led government. ... more
Tata Housing to invest Rs 450 crore on housing project at Kolkata
Source: The Economic Times May 08, 2014
Realty firm Tata Housing will invest about Rs 450 crore over the next four years to develop a new housing project in Kolkata. This is the company's second project in Kolkata, Tata Housing said in a statement. ... more
Tata Housing launches Kolkata project
Source: The Hindu Business Line May 07, 2014
Real estate firm Tata Housing Development Co on Wednesday launched its second residential project for Kolkata. Avenida is a luxury residential complex of 29-storied towers at Rajarhat on the outskirts of the city. The project is spread over 13 acres and has a total of over 700 apartments, ranging from 1080 sqft to 1,500 sqft. ... more
Now, no penalty for pre-paying your loans
Source: The Hindu Business Line May 07, 2014
Now you can pre-pay your home loans, vehicle loans or personal loans without having to worry about what your bank might charge you as penalty. The RBI has directed banks to not levy any penalty on individual borrowers pre-paying floating rate term loans. ... more
Kolkata: Rajarhat offers affordable rents
Source: The Times of India Apr 29, 2014
PropIndex, a quarterly real estate publication by Magicbricks informs that Rajarhat has climbed two slots up the ladder securing the fourth position in Jan-March ’14, in the list of preferred rental localities as compared to the last quarter. Besides this, the good news is that Rajarhat still surfaces with affordable rental accommodations starting at Rs 4500 per month. ... more
Where to invest in Kolkata: Top 3 localities
Source: The Times of India Apr 20, 2014
Kolkata is witness to a slow but steady and stable realty market but still nothing has kept the investors away from the city. Following are the three localities that figure among the top ten localities in the city, as per the emerging trends in Kolkata and Magicbricks’ quarterly report titled PropIndex. Here’s a brief tour of some of the viable options available for the potential homebuyers. ... more
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