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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
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
Industry reacts on RBI rate cut
Source: The Times of India Jan 16, 2015
Nayan A Shah, CEO & Managing Director, Mayfair Group- It is a very positive sign that Dr. Raghuram Rajan has initiated, It is First rate Cut after 2013, This will induce Banks to offer New Home loans at the rate below 10 % after a gap of around 4 Years which shall act as confidence building move for new home buyers. Also lending rates by Banks to Real Estate Developers. This Shows the confidence in the Economy and that now inflationary pressure is within control and now on more growth can be seen. Overall, it is a very positive news for economy and growth oriented and confidence boosting and shall all the sectors across Economy. ... more
RBI signals turn in rate cycle with repo cut, hint of more
Source: The Hindu Business Line Jan 16, 2015
The Reserve Bank of India (RBI) on Thursday sprang a surprise, trimming the repo rate by 25 basis points, signalling a turn in the rate cycle. However, not all banks were sure they would be cutting lending rates soon given how a lower yield could hurt margins at a time when cheaper credit was not expected to stimulate demand in the near future. ... more
CESC planning for a 150-crore real estate venture
Source: Business Standard Jan 15, 2015
CESC is also planning to develop an residential cum commercial complex at Haldia with an investment of Rs 150 crore. This would be first ever venture of into residential complex by CESC. ... more
Real estate sector to see a turnaround in 2015
Source: Jan 14, 2015
A cut in interest rates is round the corner, which should boost the demand for real estate. A government with the strong mandate has already initiated a series of reforms which should create a positive environment for growth. ... more
Office space leasing grows 11 percent in 2014
Source: The Economic Times Jan 13, 2015
Office space leasing increased by 11 per cent last year to nearly 30 million sq ft in seven major cities on higher demand from corporates looking for expansion, according to property consultant JLL India. These seven cities are - Delhi, Mumbai, Bangalore, Chennai, Pune, Hyderabad and Kolkata. ... more
Real Estate Regulation Bill in the offing: Venkaiah Naidu
Source: The Hindu Business Line Dec 27, 2014
The NDA Government is planning to introduce a comprehensive Real Estate Regulation Bill to protect the interests of the buyers as well as to regulate the industry, according to the Union Minister for Urban Development, M Venkaiah Naidu. He was speaking at the silver jubilee function of the Visakhapatnam chapter of the Confederation of Real Estate Developers' Associations of India (Credai) here on Thursday evening. He said, however, the industry need not be worried over the move, as "the Government is only contemplating regulation, not strangulation, of the industry. In fact, it is best if the industry regulates itself through organisations like Credai by adhering to a self-imposed code of conduct. It will obviate the need for Government intervention." ... more
Sector bets big on Year 2015
Source: The Times of India Dec 27, 2014
Hopes Centre will bring quick reforms: reduce time taken for approvals, remove bottlenecks in the supply of raw material Given the positive sentiments that prevail in the economy-and these are translating into increased demand for office space-there is expectation that the residential sector will see an upward momentum in 2015. ... more
Kolkata buyers prefer apartments over standalone houses
Source: The Times of India Dec 02, 2014
When it comes to buying a house across India, apartments are known to be the most preferred property type. Kolkata property buyers are no different. Over the standalones available in large numbers in Jadavpur locality, the home buyers here prefer apartments. “There is a considerable supply of standalone buildings in Jadavpur, but right from enquiries to the final transaction, the buyers are moving towards well developed apartments in a complex/gated community,” says Anish Biswas, consultant, Transventor Management Services Pvt Ltd. ... more
Real estate v/s stocks, gold: Which is right for you?
Source: The Times of India Dec 02, 2014
With many options of INVESTMENT available in the market, real estate buyers and investors would like to know which is better - real estate or stocks or mutual funds or investing in the yellow metal. Which would you prefer for your FINANCIALportfolio? What should you keep in mind before investing? Each type of investment has its pros and cons. There are several aspects of each that make them unique investments in their own way. To advise and guide you on the same, Magicbricks organised GuruTalk - a live chat session with Kalyan Chakrabarti, managing director, Red Fort Capital. The topic of the session was ‘Real estate V/s other investment options, in today’s market’. ... more
Reserve Bank of India eases rules for low-cost home loans
Source: The Economic Times Dec 01, 2014
The Reserve Bank of India has eased norms to fund low-cost housing by permitting banks to extend loans against long-term infrastructure bonds. The Reserve Bank of India however barred lenders from providing loans against long-term infrastructure bonds issued by other banks. ... more
Ministry may end 3-year lock-in for foreign investors in construction
Source: The Economic Times Nov 25, 2014
Overseas investors could get a free run in the construction and development sector with the government considering removal of the three-year lock-in for the overseas investments. The housing ministry's latest proposal is now being examined by stakeholder ministries, including the Department of Industrial Policy and Promotion (DIPP). ... more
Interest subvention scheme for housing sector soon: Venkaiah Naidu
Source: The Economic Times Nov 25, 2014
The government will soon launch an interest subvention scheme in the housing sector that will meet part of the buyer's home loan burden, Union urban development minister M Venkaiah Naidu said on Monday. Speaking at the annual Confederation of Real Estate Developers' Associations of India (CREDAI) Conclave, Naidu said the scheme will benefit home buyers in the middle and lower income groups besides those belonging to the economically weaker section (EWS) category. ... more
Real Estate Bill to be reality soon: Venkaiah
Source: The Hindu Business Line Nov 25, 2014
The Real Estate Development and Regulation Bill is in the final stage of consultation after talks with various stakeholders, Urban Development Minister M Venkaiah Naidu said on Monday. “I have gone through the draft yesterday. Once the Cabinet approves the Bill, I am hoping for early clearance. If not this Winter session, then by Budget session of Parliament, the Bill will be a reality,” he said. ... more
Tollygunge gains preference among buyers!Tollygunge gains preference among buyers!
Source: The Times of India Nov 17, 2014
Tollygunge, a locality famous for golf clubs, has been included in the list of top ten preferred localities for sale, as per the latest PropIndex (Jul-Sep 2014), the India Apartment Index by Magicbricks. While it was a consistent name in the list of top ten preferred localities for rent for the last nine months, this is the first time it has entered the sale list as well, during the same quarter. Currently, the locality is offering comparatively affordable capital values and high rental returns, attracting both end-users and investors. ... more
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