INDIABULS Launched a Best Project CENTRUM PARK

INDIABULS Launched a Best Project CENTRUM PARK in best and beautiful location Sec- 103, Dwarka Gurgaon Expressway, Gurgaon.It’s Residential apartment. It’s suitable for each and every investor or buyer for investment.

Overview:-

Gurgaon, once one of the satellite cities of Delhi/NCR, has emerged as an inseparable extension of the capital itself and has witnessed tremendous growth in terms of roads, transportation, housing and entertainment due to unbound investments by domestic and foreign investors. Minutes away from International & Domestic Airport, Centrum Park is located near the major upcoming developments like 150m Dwarka-Gurgaon Expressway & Medicity. It’s a licensed project with 2BHK, 2BHK + Study, 3BHK, 3BHK + Study, 4BHK & Penthouse equipped with lush green gardens, ample parking space, playground for kids, club facility, 24X7 water supply, power back-up, medical support & daily needs store. The affordable option is coming with no preferential location charges for early movers & minimal usage area wastage in the project.


Facilities and Features:-

? Affordable Prices
? Excellent connectivity
10 M- Airports
25 M- CP
30 M – Railway Station
? Metro connectivity
? High Visibility Project
? Beautifully and immensely landscaped
? Excellent Location
? Very lower price.


Scheme: -

First 200 bookings has no plc charges & inaugural discount of 150/- per sq.ft


We are Bhardwaj Buildtech Pvt Ltd / Aditya Estate.
We are Real Estate Consultants and we provide Best deals for property and
real estate in India.
Zameen-Zaidad.com is India’s fastest & online Property Service provider.

We now focus our efforts on the following areas:

1. We assist investors to purchasing best land, Building,Floor,Villa, Shops, Hotels etc

2. We have an extensive network of contacts in All over India and acts as consultants to source the property or partner for your business.

3. Look Up

• Apartments & Flats
• Individual Houses
• Bungalows
• Villas
• Residential Plots
• Lands
• Commercial Spaces
• Industrial Space
• Agricultural Land
• Farm House

4. No Brokerage from Clients/Buyers.
5. Free Advertisements in out portal.
6. We provide Best Property Services.
7. Our Service.

• Apartments:-Elegant and bright apartment
• Location and Proximity:-Best locations.
• Amenities:- Unique Amenties
• Features: - Very Unique features
• Price: - Affordable Prices
• Discount: - Suitable Discounts
• Offers:- Many offers by our side
• Schemes: - Occasional Schemes


For first class housing, Shopping malls, Apartments, Farmhouses, penthouse, villas etc. Aditya Group have made a holistic contribution to elevate modern lifestyles by their sincere efforts in Real Estate Business.
Our team experts and professionals from the fields of Management, Finance, Marketing and IT with an exposure to global standards. We feel proud mentioning our companies Services & turnovers
Bhardwaj Buildtech Pvt Ltd is a young and growing company with its expert Team members and promoters like Mr. Rakesh Bhardwaj (Director) having experience of more than 30 years in real estate. With an achievement of handling Residential and commercial Projects today he is fulfilling and turning dreams of modern citizens by providing them Ultra Modern Services.
Under his guidance company has achieved its targets successfully.

Please use the enquiry form when you require additional information or simply email us directly to [e-mail] for any further assistance

BOOKING FOR GULMOHAR WOODS OPEN

Falcon Realty Services Private Limited (FRSPL) opened bookings for Gulmohar Woods, its

affordable housing project with apartments available for as little as Rs 5.5 lakh.

Gulmohar Woods is the first project to be developed s a part of
href="http://www.zameen-zaidad.com/"> Global EcoCity on the NH-8 in Delhi – NCR.

The company has announced a flexible and convenient payment scheme that allows buyers

to pay only Rs 51, 000 at the time of booking.

Spread over 35 acres, Global Eco City has
executive homes, weekend homes, home for

all and premium villas.

Courtesy:- HT dt:-- 04-04-09

HOME LOAN TRUTHS

With falling property prices,
home financing offers have increased. But, there is a word of caution: One must keep the borrowing component low to avoid high leverage

Home buyers have their plate full, at least in terms of financing options. A recent addition to the offer list is Canara Bank’s new home loan scheme. ET Intelligence Group takes a look at some of the public sector bank schemes to check which of these involve the minimum outflow. After the stimulus package’s blanket offer (five-year fixed 9.25% interest rate for loans up to Rs 20 lakh taken till 30 June 2009), there are other equally luring offers. Be it the largest public sector bank SBI, or the likes of LIC Housing Finance, Bank of Baroda or Union Bank, every bank is vying for the same customer. However, there is a word of caution; one must keep the borrowing component low to avoid high leverage.

CANARA BANK’S NEW HOME LOAN

This scheme is applicable for home loans up to Rs 30 lakh. The interest rate will be 8.25% in the first year and 9.25% for the next four years. Thereafter, the benchmark prime lending rate (BPLR) will be applicable, less 2.5%, subject to a minimum of 10%.

For loans above Rs 30 lakh and up to Rs 1 crore, the rate of interest will be 9% for the first year, 9.75% for the next four years and BPLR less 2% subject to a minimum of 10.50%. These rates are only available for the new borrowers and up to December 31, 2009. The maximum loan tenure that can be allowed under this scheme is 25 years. The loan to value ratio would be 80%.

SBI had earlier unveiled its Happy Home offer. This scheme specified an interest rate of 8% for the first year, a discount of almost 200-250 basis points to the prevailing market rate. However, after the first year, it would be marked to-market.

OUTFLOW

The EMI for Rs 30 lakh loan would be Rs 29,104 in the first year, at an interest rate of 8.25%. For the next four years, the EMI would be Rs 30,783, calculated at 9.25%, resulting in increased outflow of Rs 1,679. But assuming that the minimum rate applicable after the fifth year would be 10% as per rules, the EMI payable would be Rs 31,774. This would be a marginal increase of 3.2%, which would not be heavy on the pocket.

A borrower would be protected against the rising interest rate regime, at least for the first five years. However, on the flip side, one would end up paying a higher EMI amount in case the interest rates decline during the first five years.

THE BEST OPTION

A cursory glance at the scheduled interest rates gives the impression that this is the cheapest home loan scheme, but it is not the case. A comparative analysis shows that the interest outgo of other public sector bank schemes is higher than LIC Housing or Bank of Baroda. However, the interest outflow is lesser compared to SBI’s offer. Nonetheless, each bank has its own payment schedule (whether the repayment will first be towards interest or principal). A customer must, therefore, undertake thorough analysis on his own before opting for a scheme. Happy home buying.

Courtesy:- ET dt:- 13-04-09

MUMBAI’S COMMERCIAL REALTY SET TO SEE OVERSUPPLY

For the first time in last five years,
Mumbai’s commercial real estate market

is headed for an oversupply with a total of 16.02 million sq ft of new commercial

office space expected to enter the market in 2009. Demand though has been dipping

steadily. According to property consultancy Jones Lang LaSalle Meghraj (JLLM), the

demand for office space has dropped 60-80% compared to the peak period from late 2005

to early 2008. Some parts of the city had seen rental appreciation of over 100% in the

period on the back of big demand from the Banking, Financial Services and Insurance

(BFSI) and IT/ITeS sectors. “Rentals are set to go down a further 20-25% in Mumbai

owing to the mismatch in supply and demand. BFSI which generated the most demand for

the Mumbai market has been hit the most in the recent times,” says Vivek Dahiya, CEO

of property consultancy GenReal.

A JLL-M report ‘The Slope of Descent’ says: “The BFSI and IT/ITES sectors - the two

most prominent office space occupiers in the country, have been adversely affected in

the economic downturn. The BFSI sector suffered globally with the collapse of major US

and UK banks resulting in many financial corporates putting their expansion plans on

hold. BFSI demand for office space in India’s business districts fell in 2008, and it

is projected to remain sluggish in the short term.”

The mismatch for many years has been on the supply side, which has been reversed now.

Throughout 2006-08, Mumbai trived on new companies coming in. A number of
investment banks, management

consultancies, private equity firms and others who entered the Indian market

wanted to take up space in Mumbai, mostly south Mumbai. “The only demand that is there

in the market today is from the non-BSFI corporate segment,” says Kaustuv Roy,

executive director at Cushman & Wakefield.

The first quarter of 2009 saw a total supply of 2.47 million sq ft of new space in

Mumbai of which the total absorption of space is only 35%. The total absorption was

only 896,454 sq ft. Rentals have been steadily falling in most major micro-markets of

Mumbai.

Rentals in Nariman Point are down 13% compared to last quarter and about 30% down

compared to a year ago. Worli, Lower Parel, Bandra Kurla Comlex and Andheri-Kurla are

the worst hit with rentals coming down by 38%, 39%, 27% and 33%, respectively, over

the last one year.

This is the best time for businesses to relocate to locations that offer lower rentals

and bring down their operating cost. “There is some leasing activity going on but only

for the price conscious which is mainly for relocation. The business expansion demand

has completely dried out in the city,” says Aniruddh Wahal, national head, strategic

occupier services at JLL-M.

Courtesy:- ET dt:- 17-04-09

For details visit www.zameen-zaidad.com

# UNITECH PLANS $250MN QIP ISSUE TO PART-PAY DEBT

Unitech Ltd, the country second-biggest real estate developer, plans to raise as much as $250 million (Rs 1,250 cr) through private placement of shares to qualified institutions, company officials said, to repay part of its debt of over Rs 8,000 cr

The New Delhi-based developer plans to raise the funds by the end of this month, a company official, said declining to be identified. The company is planning to reduce Rs 1,000 cr of debt on its books by June this year.

Unitech Managing Director Sanjay Chandra and key officials of the company have been in Mumbai over the past couple of days to gauge investor sentiment. The
real estate company has hired UBS and IDFC as arrangers for issue. A Unitech spokesperson declined to comment.

Unitech’s move comes after the developer withdrew its application with the Foreign Investment Promotion Board (FIPB) in February to raise Rs 5,000 cr fro the sale of securities. A year earlier, the company planned to raise Rs 7,500 cr through a qualified institutional placement or QIP.

The recent rally in the stock market seems to have encouraged Unitech to revive its QIP plan. The company’s stock has climbed 70 per cent since March 9, while the benchmark Sensitive Index has risen 32 per cent. The company’s stock rose more than 14 per cent in the past two trading sessions and closed at Rs 42.05 on Thursday.

"With markets recovering from its lows,
Unitech has started working on the issue,’’ said an investment banker who declined to be identified. “The dilution cold be as much as 1/6th of the market cap.’’

If this QIP goes through, it will be the first such placement in as many as eight months after the Securities and Exchange Board of India changed QIP norms. Last August, the Sebi had amended pricing norms for QIPs by allowing companies to fix the price based on the average price of two weeks. Earlier, companies had to fix the price based on six-month average prices. Not a single QIP issue, however, has hit the market since then.

QIP deals, which were struck during the bill run at hefty premiums, have now turned sour because of the sharp fall in the valuations of listed companies.

The mark-to-market (MTM) value of QIP deals raised between March 2006 and March 2009 has fallen 73.47 per cent to $1.75 billion (about Rs 8,841 cr) from $6.58 billion (about Rs 33,245 cr), according to data from SMC Capital.

Courtesy:- BS dt:- 10-04-09

TOP ENROPEON FUND MAY INVEST RS 300 CR IN SOBHA DEVELOPERS

Redevco, one of Europe's largest real estate investment and development firms, with a

$10 billion portfolio, is understood to be looking at investing around Rs 300 crore in

various projects of Bangalore-based
Sobha Developers .

Redevco, part of the diversified Cafro Holdings, which is into private equity, retail,

financial services and renewable energy, in addition to
Indian real estate

have been slowing over the past three quarters and this deal is expected to be a major

one. While Redevco said it had nothing to comment, Sobha has been maintaining that it

is in talks with various funds and nothing has been finalised.

Over the past two quarters, Sobha has been aggressively looking at three options to

reduce its debt burden of close to Rs 1,900 crore, a leverage of 1.6 times.

The company, which has Infosys as one of its major clients, is looking to raise around

Rs 850 cr by selling around 200 acres of its 3,000 acre land bank, offloading up to 49

per cent stake through special purpose vehicles and to offload up to 25 per cent stake

at the enterprise level.

Sobha is understood to have identified around 150 acres of land on which projects can

be implemented through special purpose vehicles by divesting stakes.

The company is also engaged with around 12 banks and financial institutions to

restructure around Rs 850 cr of debt that will be due for payment during the next 18

months.

Banking sources indicate Sobha has been able to get a nod for a part of that sum and

talks are also on with mutual funds to roll over Rs 350 cr of debt

Courtesy:- BS dt:- 17-04-09

BANKS REJIG LOAN REPAYMENTS TO HELP JOB-LOSS VICTIMS RETAIN THEIR HOUSES

Banks are taking a considerate view on
home loan repayment by borrowers who have lost their jobs, thereby helping them retain their homes.

Although the March 31 deadline set by Reseve Bank of India for receiving loan restructuring applications has expired, banks continue to consider such proposals from home loan borrowers.

The relief offered by banks, include granting EMI holidays to borrowers faced with job losses and pay cuts. “We are open to such restructuring proposals, including EMI holidays, even now and are mulling other options,” confirmed a senior official with a leading private bank, on the condition of anonymity. “We
restructure loans bsed on our internal guidelines and regulatory requirements. Decisions are taken based on the merits of the case,” added Ravi Subramanian, head, consumer assets, HSBC India.

Once the borrower approaches the bank, spelling out the difficulties in repaying the loan, it works out a mutually agreeable repayment solution. Debt restructuring packages include extending the loan tenure, waiver of part interest or allowing an EMI holiday to help overcome a temporary crunch.

However, banks take pains to ensure the authenticity of the distressed borrowers’ claims and grant relief on a case-to-case basis.

“If the borrower cant pay three EMIs (three monthly instalments), the bank will restructure the loan in a way that the interest accrued for that period is added to the outstanding principal amount. The repayment schedule is worked on the ne principal amount. But we check the borrower’s rating with CIBIL and his/her repayment behaviour with other banks before arriving at any such decision,” said Sujan Sinha, senior vice-president for retail banking, Axis Bank. “We intend to cross-check with the borrower’s employer to ascertain whether a job loss/ pay cut has actually occurred and that the borrower is not taking advantage of the restructuring option being available now. We also ask the borrowers for a copy of the official letter which mentions the pay cut/retrenchment, if required,” added another bank official.

As a consequence of this empathy on part of the banks and increase in awareness among borrowers, the resolution rate at credit counselling centres has gone up. “In several cases, we have seen that banks do
reschedule loans if they are convinced that the borrower’s predicament is genuine,” informed Madan Mohan, credit counsellor at the ICICI Bank-supported Disha Financial Counselling.

And it’s not just the borrowers who stand to gain from this arrangement. Accepting such proposals would enable banks to cut down on litigation and recovery-related expenses. “Logically, banks do not stand to lose if they have to wait fr even six months because the process of seizing the mortgaged asset, putting it up on sale and realising the proceeds would be equally time consuming,” pointed out VN Kulkarni of the Bank of India-backed Abhay Credit Counselling centre.

Courtesy:- ET dt:- 17-04-09

HOME LOAN CHECKLIST

While choosing a home loan option to buy a house, there are a few important aspects you need to go into. Ashish Gupta elaborates

Scheme of loan

Whether the loan is a fixed or floating rate one. As is common knowledge, in case of floating rate loans, the interest rate will move up or down with each rvision in the benchmark rate of the bank. In case of a fixed rate loan, the interest rate may remain fixed for either a given period of time or entire tenure of the loan.

Rate benchmark

In case it's a floating rate loan, what the rate is benchmarked against is important. Usually, floating rates are determined with reference to the prime lending rate PLR), fixed at the time of taking the loan plus a mark-up. If your home loan is at a spread of one percent to the PLR, which is say 10 percent, you will pay an interest rate of 11 percent per annum.

How often the bank changes the benchmark rae should be checked. Banks periodically revise the PLR to which the
home loan interest rate is pegged. The lending rates may not be automatically adjusted to the revised PLRs.

If one has opted for a fixed rate loan, it is to be checked whether the interest is fixed for a part of the tenure or the entire tenure. Do check the reset clauses. The bank normaly reserves the right to revise the interest rates upwards or downwards, once in three or five years, even on a fixed rate loan.

Charges

Also check whether the loan can be prepaid, and if so, what the charges are. It may be a fied fee, a percentage of the loan outstanding, or a percentage of the loan amount. Further, there may be a restriction on the number of prepayments you can make during the tenure of the loan.

Check what the other charges you will be required to pay to get the home loan are. There could be a fee for processing, services, and administration. These could be levied as a flat fee or a fixed percentage of your loan amount on sanction.

Loan amount

The maximum
loan amount offeed by a bank is important to find out if it can finance the amount you are looking for. Some banks have set limits for maximum amounts they lend for particular purposes. This becomes all the more important because this is a long-term decision.

LTV ratio

You should also check the maximum permissible loanto-value (LTV) ratio. The maximum loan you would get with regard to the value of the house needs to be checked. It may be worthwhile to see if a co-applicant is allowed. Some banks insist on only certain relationships as applicnt and co-applicant. Some insist on a personal guarantor as an additional security.

Courtesy:- FT dt:- 05-04-09

DEMAND PULL

There is cautious optimism among the buyers after a drop in prices. After a significant drop in interest rates, a further 10-15% drop (depending on location) in prices is believed to be luring buyers. With the average home loan size hovering at Rs 15 lakh, according to the largest home financing company HDFC and the ticket size for a 2BHK ranging from Rs 45-80 lakh, there is a big disconnect. The developers have finally realized that neglect of the strong middle class was a big blunder. And their focus has now shifted towards the affordable housing sector. This could bring buyer confidence back into the market.

STOCK MUSINGS

It might be good time for the
home buyers, but the situation is not the same for investors of real estate companies. The stock market has taken a beating and the real estate stocks have been hammered beyond recognition. There are no visible signs of recovery, at last in the next 12 months. This has left the investors in a lurch. However, tough times like these call for tough decisions.

As we all know, the demand has dried up, be it in the residential segment, retail or commercial. Many companies have committed huge funds towards ambitious projects. The completion of those projects, however, appears to be a bleak possibility. This would affect the companies’ cash flows and have a bearing on revenues as well. In fact, some developers are diverting the limited funds to complete the low-margin affordable residential projects. Realising the potential demand in this category, some developers have even launched new projects. Despite the huge demand, this is a volume game with lowmargins. The business model of companies is therefore shifting from high-margin luxury apartments or villas to thin-margin mid market housing, thereby reducing the overall profit margins of the group company.

It is advisable for real estate sector has become organized recently, there needs to be clarity on the area (carpet or built-up) at which prices should be quoted. The stamp duty and registration charges have to be rationalized inline with the drop in prices. Multiple state laws, single window clearances and title clearances are other reforms that must be introduced to boost the country’s second-largest employment generating sector.

Courtesy:- Et dtd:- 16-03-09

AFTER DLF UNITECH HAS RESTIVE CUSTOMERS TO SOOTHE

Unitech Ltd, the country’s secnd-largest realty player, has to handle customer ire at one of its premium housing projects in the suburban city of Gurgaon

This comes right after DLF, the largest property developer, brought out a range of measures to soothe restive customrs at a couple of other housing projects at Gurgaon.

The Unitech customer ire is due to alleged delay in completion of World Spa, apartments and villas that carry an average price tag of over Rs 1 cr per unit. “The property was scheduled for delivery in the second half of 2006. Two years later, more than half has no yet been delivered, with no completion date in sight. And the complex is far from finished,” complained a customer.

Customers said their mails and pleas to Unitech had been ignored. World Spa has over 350 apartments in two projecs — Spa East and Spa West. While there are 159 apartments in five towers in the East, the Spa West has six towers that house 208 apartments. Customers say Unitech has collected over Rs 450 cr, constituting 90 per cent of the payment.

Unitech officials, however, deny the charges and say the project is on track. “The release of World Spa has started and all six towers in Spa East have been ofered for possession. One tower in Spa West has also been released. The rest of the towers will be released progressively in the next few months,” said a spokesperson.

Company officials said the delay in Spa West was caused by customers’ demand for structural changes. “The West towers are structurally complete and finishing touches need some more months. The delay happned after a group of buyers approached us in 2007, asking for major changes in the project. We tried to incorporate the changes, hence the delay,” said the officials.

Unitech added the payments were “construction linked”, which suggested that 90 per cent payment would mean that 95 per cent of the project was complete. The company is planning to meet the customers during the week to clear their apprehensions.

The customers are yet to be convinced. They are hinting at beginning with peaceful public demonstrations to “sensitise” Unitech.

Customers complain that cash-strapped realty majors are delaying the completion of residential projects after taking hefty advance payments. To address such feelings, DLF is in the process of announcing project-specific “relief packages” — including pice cuts — for its customers

Courtesy:- BS dt:- 01-04-09

BBI The Solution Of Real Estate

We are Bhardwaj Buildtech Pvt Ltd / Aditya Estate.
We are Real Estate Consultants and we

provide Best deals for property and real estate in India.
Zameen-Zaidad.com is India’s fastest & online Property Service provider.

We now focus our efforts on the following areas:

1. We assist investors to purchasing best land, Building,Floor,Villa, Shops,

Hotels etc

2. We have an extensive network of contacts in All over India and acts as

consultants to source the property or partner for your business.

3. Look Up

• Apartments & Flats
• Individual Houses
• Bungalows
• Villas
• Residential Plots
• Lands
• Commercial Spaces
• Industrial Space
• Agricultural Land
• Farm House

4. No Brokerage from Clients/Buyers.
5. Free Advertisements in out portal.
6. We provide Best Property Services.
7. Our Service.

• Apartments:-Elegant and bright apartment
• Location and Proximity:-Best locations.
• Amenities:- Unique Amenties
• Features: - Very Unique features
• Price: - Affordable Prices
• Discount: - Suitable Discounts
• Offers:- Many offers by our side
• Schemes: - Occasional Schemes
8. Keywords

Property, Luxury apartments, Super Luxury

Apartments, Presidential Villas, Super Luxury Villas, Integrated Township, Dream

series, Duplex Houses, Premium Houses, studio apartments, residential apartments,

Residential Township , Plots (Township), Commercial office, Commercial Retail,

Commercial shops, upcoming projects, on going projects, resale projects, Modular

Kitchen, Bathtub in MBDR, Wardrobe in all Bedrooms, Electrical Fixtures, Wall Hung LCD

TV in Drawing Room, Sink Door, Switches of Legrand Mosaic make or equivalent,

Highlighter Wall in Each Bedroom, air-conditioner, PLC, IFMS, EEC, FFC , HIG, LIG,

RCG, PBI, IFSF, CMC, ECC, EDC, STP, LR, CM, PBU, RGS, Accommodation, Floors/Tower,

Area of Flats/Plots, Rate of TLP/CLP, Rate of Flexi Plan, Rate of Cash Down Plan,

Booking Amount, Loan Facility, Golf Course facing/Front Lake Facing, Pool Facing, Park

facing, Road Facing , Corner Facing, Club Membership, Stilt Parking , Open Parking,

Covered Parking , Power Backup, Fire Fighting (FFC), EIC(EEC), IDC, MMS/AMS,

Maintance Charge, Replated Gas System, Additional Charges, Other Charges, One time

Security/Lease Rent, Assured Rent (per month) , Possession, Status, Any Scheme


For first class housing, Shopping malls, Apartments, Farmhouses, penthouse, villas

etc. Aditya Group have made a holistic contribution to elevate modern lifestyles by

their sincere efforts in Real Estate Business.
Our team experts and professionals from the fields of Management, Finance, Marketing

and IT with an exposure to global standards. We feel proud mentioning our companies

Services & turnovers
Bhardwaj Buildtech Pvt Ltd is a young

and growing company with its expert Team members and promoters like Mr. Rakesh

Bhardwaj (Director) having experience of more than 30 years in real estate. With an

achievement of handling Residential and commercial Projects today he is fulfilling and

turning dreams of modern citizens by providing them Ultra Modern Services.
Under his guidance company has achieved its targets successfully.

Please use the enquiry form when you require additional information or simply email us

directly to [e-mail] for any further assistance

#

ACCOUNTING FOR AFFORDABILITY

Sensible planning and construction can cut housing costs drastically. Amit ramani explains how it can be done.

The good news today is that this is the ideal time for developers to recognize the need for affordable and midrange housing with an emphasis on quality. This will not only help them survive the current slowdown, but will also ease the dearth of low cost, affordable units.

The opportunities

The opportunities and issues of affordable,
low cost housing in India are mainly related to the tremendous shortfall of housing for middle and lower—income groups as a majority of developers are involved in high-end housing. According to the 10th Five Year Plan, there is a shortage of 22.4 million dwelling units. Thus, over the next 10 to 15 years, 80 to 90 million housing units will have to be constructed with a majority of them catering to middle and lower income groups.

Architects, too, while catering to the aspect of affordability, should promote good practice in the design and construction of residential dwellings. Increased emphasis on sustainable housing in terms of:

1. Social sustainability: Universally designed, safe and secure;
2. Environmental sustain ability: Resource-efficient in waste, water and energy; and
3. Economic sustainability: Cost-efficient over time. Efforts are required to make housing affordable without compromising on the prospective residents' quality of life. From every perspective, shifting the focus to affordable housing now is a winning idea.

Courtesy:- HT dt:- 04-04-09

OLD AND HOME ALONE

The aged and single, living all alone in big houses, are an easy target for unscrupulous tenants, says
Sarthak

Tripti (name changed) has been living all alone in her spacious East of Kailash house. After the recent demise of her husband, this 76-year-old lady is looking for a tenant for her first floor house. Before leaving for England, her married son, who came to attend the last rites of his father, told several realtors in the area to look for a “tenant for our first floor house, who has a small family. Like one or two kids, and who can also provide some medical aid to my mother as when she is not well. Those who can drive her car, at least occasionally, will be preferred.”

Interestingly enough, for sheer numbers, old ladies outnumbers old men living alone in their big houses in posh localities in the capital. Their kids either live in some other city or abroad. If we talk about ladies alone, there are many instances when they have not married at all, and in their ripe age, they are left as the sole guardian of their houses, which they got in inheritance.

Kajol Makhijani of Mak Realtors says finding right tenants for such weak and weary ladies is a huge task for them. They take extra effort in order to find the right person who can occupy the house. “While we see and ensure that the prospective tenant has the right credential, we also make our own enquiry to see if he or she create trouble for their former landlords,” says Kajol.

Realtors say that in almost all the private localities of the capital, one can easily find a large number of old couple, as well as single men or women, living all alone. It goes with out saying that all types of shady characters try to gab the properties of these people, and sadly, many of them have lost their lives at the hands of these elements.

Anu Gupta of South Delhi based DGS Realtors says that it is wrong to believe that senior citizens are under constant threat only from outsiders. The fact of he matter is, in many instances, they have badly suffered at the hands of their own close relatives or so called friends. Giving a shocking example of former DU teacher, Prof Lotika Sarkar, Anu Gupta says that as Lotika is very old and alone, her tenants tried to fudge ownership papers of her posh South Delhi colony house, which is worth crores. The aim was to grab her house. But for timely exposure by the Times of India, the house of Lotika Sarkar would have been grabbed by those who claimed to be her well-wishers. “Keeping this in mind, as and when senior citizens requests us to find tenant for his or her house, we take extra precaution in order to ascertain the background of the possible tenant.” Many Realtors says they do not rush into these things an bid their time for the right person. When they feel they have found the right candidate, only then do they make their next move and introduce him or her to their clients. There are many senior citizens who prefer to let a part of their houses to single women only. They somehow think that workingwomen will not create problems for them at any stage. East Delhi-based realtor, Pramod Kumar Chopra, says he has recently found a tenant for his Nirman Vihar client. The lady was looking for a workingwoman who could also take her to doctor, at least once or twice a month. She was ready to give her house on lower rent than the prevailing market rates.

Courtesy:- TOI dtd:- 28-03-09

#

Ashish Gupta outlines some instances when the rent paid is allowed as a deduction

while arriving at total taxable income

An individual is allowed a deduction on the rent he pays for
the house occupied by

him. The relevant provisions are contained under Section 80GG of the Income Tax

Act. In commuting the total income of an assesses, he is allowed a deduction on the

expenditure incurred towards payment of rent for any furnished or unfurnished

accommodation occupied by him. The residence should be rented for his own use only.

In order to avail this deduction, the assesses should be self-employed or a salaried

employee. The deduction is not restricted to salaried employees only as is the case

with house rent allowance (HRA). Further, he should not have received a HRA at any

time during the previous year. In case he had received a HRA during any part of the

previous year, the deduction under Section 80GG is not available to him. The assesses

should file a declaration in Form 10BA furnishing the expenditure incurred by him

towards the payment of rent.

However, the Income Tax

Department may prescribe other conditions or limitations, regarding the area or

place in which the accommodation is situated, after taking into account other relevant

considerations.

Normally, most salaried employees get HRA and accordingly the deduction on rent paid

is governed by the provisions related to HRA under the Income Tax Act. The biggest

advantage of this deduction is that it is available even to self employed people who

stay in rented accommodation.

Amount of deduction is limited to the least of these amounts:

 Rs 2,000 per month
 25 percent of total income for the year (excluding long-term capital gains and some

specified incomes, before allowing deduction for any expenditure under this Section)
 Expenditure incurred in excess of 10 percent of total income towards rent

(excluding long-term capital gains and some specified incomes, before allowing

deduction for any expenditure under this Section)

The deduction will not be available to an assesses in case a residential accommodation

is owned by him, his spouse or minor child, at the place where he ordinarily resides

or carries on his business. Also, the deduction will not be available to an assesses

in case a residential accommodation is owned by him at any other place, provided this

accommodation is occupied by the assesses, and the concession available for a

self-occupied house has been claimed by him under Section 23 for this property. In

such a case, no deduction will be allowed on the rent paid, even if the person does

not own any residential

accommodation at the place where he ordinarily resides or carries on his

business.

These provisions enable self-employed people and others not in receipt of HRA to claim

deduction on the rental expenses incurred.

Courtesy:- FT dt:- 05-04-09

BHIWADI BECKONS

Bhiwadi is offering quality properties at never-before prices, even as it emerges as the next industrial hub, leaving all other places of the NCR far behind.

With the present fall in real estate prices, residential property on the periphery of National Capital Region of Delhi is available at a never-before price, at least in the recent past. In fact, this can be used as an investment opportunity as well, if one wants to invest keeping a minimum three-year horizon in mind. It is hard to imagine one can buy a house for Rs 16 to Rs 25 lakh in the NCR. Yes, apartments are available in that range in Bhiwadi, which is emerging as the next industrial hub, leaving all other places of the NCR far behind. Over the last couple of years, the quiet town has undergone a sea change to emerge as the third largest industrial centre of India. Today, it is home to a number of world-class global industries.

“The prime reasons in making Bhiwadi a promising industrial destination are - a direct approach to NH-8 and the consequent connection with the 8-lane road to Gurgaon on the one side and Jaipur on the other; a link to the Japans corridor intersection of Delhi-Mumbai Industrial Corridor; a 55-minute drive from Indira Gandhi International Airport, and its proximity to significant places like Gurgaon, IMT-Manesar, Bawal, Alwar, Neemrana, and Delhi in particular” says Bhiwadi Development Association chairman Om Gupta, who is also CMD of Ashiana Housing.

Apart from the strategic location of Bhiwadi, the other aspects that are enticing corporates to settle for this place are low property rates, strong infrastructure, low cost of living, low population density and low pollution levels, Gupta adds.

Bhiwadi already boasts of big multinational companies like Pepsi, Honda Siel (manufacturer of Honda cars), Orient Craft, Asahi, Hero Honda, Bausch & Lomb, United Breweries, Ray-Ban, Saint Gobain, Federal Moghul, Gillette, Sakata Ink, and Ocap Chassis, among others. Other major industries in the city include Relaxo Footwear, Lakhani Footwear, Jaguar Ltd, Harvest Foods Limited, Kajaria Ceramic Ltd, and SEZ of Mahindra and Mahindra.

These companies have acquired large area of land in the township and have made huge investment, employing thousands of people. aint Gobain alone has taken up 140 acre of land and has invested Rs 1,000 cr to create 2,500 jobs. Honda car is spread across 700 acre with Rs 2,500 cr investment and has created 5,000 jobs. Orient Craft has created 14,000 jobs while Jaguar has generated 1,000 jobs. Another Delhi-based company, SRF Ltd, employs 500 people in the city. Nahar Group has 2,000 employees and, Shree Cement has made an investment of Rs 200 cross. Also, renowned companies like Adlabs and SRS cinemas have made Bhiwadi their destination.

Such a huge employment is bound to create demand for residential units in the townships. At present, people travel from Delhi, Gurgaon and Manesar to work in the township. But, as high-quality residential units with good social infrastructure come up in the city itself, people will prefer living in the township itself. A number of world-class schools and hospitals are being developed in the area, to meet the requirements of the townships.

The rate of population
growth in Bhiwadi also guarantees good opportunities for real estate, retail and hospitality industries. It is one of the most planed cities in India, which sets it apart from other industrial cities, says Gupta. Developed by government and private collaboration on bare land, residential and commercial areas are clearly demarcated making the development absolutely hassle-free. Bhiwadi Development Authority (BDA) is expecting government aid in terms of development of water supply system and proper solid wastage disposal.

Again, the government has signed a MOU for an investment of approximately Rs 30,000 cr to promote the growth of this industrial township. The road from Bhiwadi to Alwar is being upgraded to a four-lane highway.

Some of the notable real estate developers in the area are Parsvnath Developers, Omaxe, Ashiana Housing, MVL Coral, Piyush Group, MTech Developers, Trehan Home Developers, Kajaria Infrastructure and Kingfisher, among others that have come forth to meet the demand for world-class housing and office space in Bhiwadi.

Infrastructure compatible with global standards and loaded with modern amenities like wi-fi, lifts, 24x7 security, CCTV cameras, ample parking and world-class design and aesthetics reflect in every construction. Bhiwadi has state-of-the-art hyper malls providing a solid footing to international brands. From 5-star hotel chain Clearings that arrived Bhiwadi, the Rajasthan Housing Board has created the necessary infrastructure by way of schools, hospitals, banks, transportation, water supply and telecommunications networks.

Perfect for a modern lifestyle,
property in
Bhiwadi is available at much lower prices than almost all other regions in the NCR. Reinforcing the fact, Om Gupta says, “We want to provide a high-class society to middle-income group with a nominal investment.”

The present going rate of residential units in the area is Rs 1,350 per sq ft to Rs 1,500 per sq ft. However, some of the premium segment housing is available for Rs 2,000 per sq ft. Courtesy:- TOI dt:- 04-04-2009

#

Delhi Development Authority (DDA) has agreed to lend Rs100 crore to cash-strapped
href="http://www.zameen-zaidad.com/Retail%20Space.aspx"> realty firm Emaar MGF to

ensure the Commonwealth Games Village project is completed on time, a DDA official

said.

But the development agency is willing to consider lending more later, he added. DDA

would extend the Rs100-crore loan if Emaar MGF offers apartment worth the same value

either as collateral of for outright sale to the government-run body. The village will

have 1,168 apartments to accommodate 8,500 athletes likely to participate in the

Commonwealth Games.

DDA has setup a committee to decide on the value of apartment in the village. The

panel is expected to submit the valuation report in two weeks. Following this, DDA

will decide if it wants to buy these apartments or give a loan using them as security.

It will be difficult for DDA to justify buying apartments at a steep price because it

will have to sell them later. DDA is known to sell apartment at 30-40% discount to

market rate.

Emaar MGF has been insisting DDA to buy apartment because the purchase can

bring in some cash to the developer, whereas a loan will have to be repaid in a

failing market.

A DDA spokeman said: “We are yet to take a final decision, But DDA will do all

that is required to facilitate the timely competition of Commonwealth Games Village.”

Three months ago, Emaar MGF had requested DDA for
Rs300-crore

loan, saying it would not be able to meet the deadline of April 2010 due to a cash

crunch.

Emaar MGF had bagged the project in 2007 after bidding Rs321 crore for it.

According to its contract with DDA, Emaar MGF can sell two third of the total

apartments. The balance will be handed over to DDA for free. The village located on

the bank of river Yamuna in east Delhi, is almost 45% complete.


A booming realty

market, good location and high-quality features had encouraged Emaar MGF to price

the project aggressively.

With a price tag ranging from Rs1.8-4.8 crore, apartment in the athletes

village are being offered by Emaar MGF for an average price of Rs 13,000 per sq ft.

But, a combination of global and local economic factors have badly impacted

the property market and sent prices crashing. Buyers are staying away, waiting for a

price cut similar to those in some projects is belonging to country’s largest realty

company DLF.

DLF will shortly launch a housing project in Delhi, around 7 km from Cannaught

Place, almost the same distance as Emaar MGF’s village. But DLF’s project is likely to

be priced at almost half Emaar’s rate.

Emaar MGF officials say the company will not lower prices to induce buying as

the project is already competitively priced. Around 260 Apartments have been very sold

so far and last four months have been very bad, they added.

#

Real estate services firm Jones Lang LaSalle expects its India business to led growth in Asia as demand for
office space continues from the still rapidly growing services sector, its chief executive said on Saturday.

“In India, demand for services is fairly robust as the It, BPO and KPO segments grow nicely, Perhaps, demand might grow even more steeply once the confidence comes back to the market,” Colin Dyer, also Jones Lang’s president, told Reuters in an interview.

Chicago-based Jones Lang LaSalle, with revenue of $2.7 billion in 2008, expects the India business to contribute 6-7 percent of worldwide revenue in three years, up from 3-4 percent currently.

Growth in India, Asia’s third-largest economy, is expected to slow down to 7 percent in 2008/09, hit by the global economic downturn. The services sector, despite recent hiccups, is however set to grow at nearly 10 percent in the period.

India’s Real estate sector has been hit by high property prices and lack of finance, leading to a slump in sales after five years of boom.

Parsvnath goes slow on hotel expansion

New Delhi-based Parsvnath developers is going slow on hotel expansion to conserve cash in the business, a top company official has said.

Parsvnath had planned to open 100 hotels in seven years with about 10,000 rooms Now, the company is not buying a land for hotels apart from what it has for its 20 hotels projects, of which six are under ay.

“We will not buy new land for now. We are focusing on six projects and will start the other 14 in due course of time,” said Parsvnath Chaiman Pradeep Jain.

Most real estate developers, like DLF, Unitech and others, are scaling down or slowing hotel plane due to the current slowdown in the property sector and the cash crunch. While property prices have dropped as much as 50 from their peak in 2008 in metros and sales have declined 70 percent compared with last year, banks have tightened lending to property developers.

According to experts 20-30 percent of the room capacity planned by 2010 would be deferred by at two to three years.

DLF, the country’s largest property developer, is said to be pushing back its hotel plans by 12-18 months due to the tough credit environment, while Unitech, another New Delhi-based developer, has sold its Gurgaon hotels to reduce its debt burden.

Even hotels chains are passing through a rough patch with occupancies falling 58 percent in January 2009 average room rates reclining 14 percent in the month.

Analysts expect Parsvnath’s balance sheet to be under pressure in the current quarter and the next financial year due to decline in execution, high receivables and overall slowdown in the property market.

The company’s consolidated third-quarter profit fell 95 percent to Rs5.42 crore and sales dropped 80 percent to 90.52 crore. In the fourth quarter, on a year-on-yea basis, analysts expect revenues and net profit drop further.

The company’s execution slowed in every quarter of the current financial year. The company has an executed space of 1.3 million sq ft in Q3 of FY09, compared with 2.2 million in 2. Receivable from buyers went up to Rs 1,496 crore by the end of the December quarter, from Rs 1346 crore in the September quarter.

“Developers cannot launch new projects when sales are slow and cash is hard to come by,” said an analysts with a Mumbai-based brokerage firm.

Parsvnath is developinf six hotels in
Mohali, Shirdi, Hydrabad, Lakhnow, Ahmedabad, and expect to start the rollout by the second half of 2009. the company is in the process of getting approvals for 14 other projects, which are expected to start in the next 12 months.

Jain said the company was looking at diluting stakes in individual hotel projects and dropped its earlier plan to dilute stake in the entire portfolio.
“today, there are no takers for consolidated assets. That is why we are looking at divesting stakes in individual projects,” said Jain.

The government has decided to provide Rs100 for liquidity support to Emaar-MGF, the developer of the Commonwealth Games village project, as against the developer’s demand for Rs300 crore.

The Ministry of Urban Development plans to ask the Delhi Development Authority (DDA) to buy the flats in the village to provide liquidity to the company. The DDA is expected to sell the flats after the prices revive.

Cash-strapped Emaar-MGF had sought Rs300 crore liquidity support from the government as it wasn’t able to sell the houses in the project.

“After analyzing the project’s funding requirements, we have decided that the company should be given Rs100 crore, against which the DDA will buy some flats. However, the number of flats id still to be decided by our committee as it is working on the issue.” Said M Ramachandran, secretary, Minister of Urban Development.

The committee, set up by the Ministry of Urban Development, is analyzing the actual price of the apartments. The developers has quoted Rs 12.750 per sq ft.

The Market price of flats in the area has fallen by 20-30 percent and the government would not like to pay an amount higher than the current market price.

Emaar MGF, under a private-public partnership with the DDA, had won the contract to develop 1,168 flats. The company had hopped to sell 70 percent(778) of these and to use the cash to finance the construction.

The Commonwealth Games Village site is being built to house the 8,500 odd athletes and those who accompany them.

Ramachandran said the project was on schedule, with almost 42 percent of the work done. The project would be completed by April2010, a few months before the Games, he added.

An Emaar MGF spokeswoman declined to comment on the development.

MVL'S AFFORDABLE HOUSES IN BHIWADI

MVL Limited recently launched the first

affordable housing project, ‘MVL Indihomes’ in Bhiwadi. It is on the Bhiwadi-Alwar

Road and comes with an attractive price tag of Rs. 9.38 lakh (all inclusive, no other

charges) for an apartment size of 800 sq ft coupled with freebies like power back-up,

parking and first year maintenance charges.

The civil construction (excavation) commenced on the same day with a mandate to

complete the first phase of ‘MVL Indihomes’ in 24 months.

Courtesy: - HT dtd: - 07-03-09

BANK ON LAND

Buying land may not be an idea that will appeal to everyone, but it is a good option given the falling property rates


“Buy land, there not making it anymore”

SO said the famous playwright Mark Twain, and it holds true till date. Land values are known to appreciate more than 40-50 times, though, over a long period. However, investors get bogged down by the procedure and legal formalities involved in the buying a plot of land. ET Intelligence Group takes you through some of the nitty-gritty of investing in land.

Invest in non-agricultural land:

A common perception is that buying land could be time consuming and an expensive affair. Not only in the initial phase but also the cost involved in maintaining a purchased plot is a Herculean task. Moreover, there is not much clarity on the title and the regulation process is quite tedious. The solution to this lies in buying non-agricultural (NA) land directly from the local authority. However, this comes with a condition that it must be developed within a specified time limit. On the other hand, NA land situated at the fringes of city limits can also e bought from private developers. Thus it will save the buyer from the hassles of getting various approvals.

Tax benefits:

It is believed that no tax benefits accrue in buying land as against buying a house. It is true that unlike a loan taken to acquire a property, the interest payable on a loan taken to buy plot of land is tax deductible only if that land is used for generating income. In any case the principal is not eligible for any benefit. However this interest can be capitalised and added to the cost of acquisition of the plot. This would help in reducing the capital gain tax liability at the time of sale of the plot.

Not just for the Richie rich: One does not need tones of cash to buy land. Small investments worth Rs 5-10 lakh in a good location would also be sufficient to give worthwhile returns (in 10-15 years). Banks also provide financing facility for buying land from statutory bodies or reputed developers. However, interest rates are higher by about 1-2% as compared to regular home loans and also the tenure is restricted to a maximum of seven to 10 years.

Liquidity: Since non-agricultural land is not easily saleable, the investor’s liquidity gets restricted. Land can however e used as collateral for securing credit from financing institutions. Though it does not provide any merit to the business proposal, it does take care of the cash crunch situation.

Encroachment:

The most common fear is the encroachment of the property or the zoning changes. The ideal way out for this is to buy in clearly demarcated NA plot schemes. Not only are chances of infringement low, but also quick redressed is possible as a large number of people are involved in these schemes.

Payment:

Transaction of such types involves a lot of cash as sellers may demand cash payment. It could lead to a lot of legal hassles later on.

Transaction costs:

High stamp duty (up to 10-15%) charges and different rates applicable across various states nullify the gains unless investment is spread over a long duration. However, this downside is small when compared o the gain potential.

Though it is not a Herculean task to identify any property that fulfills the above tests, it is advisable to keep the following guidelines in mind.

Location is the key rule:

One should go looking in either outskirt of large cities or in suburbs of upcoming central business districts. It could even be in one’s native lace. One should visit the place frequently to keep a track on the local development besides providing a cultural/social connection. One could also look at investing in a group, as it will help to get rules implemented (if needed). The horizon should not be less than 10 years to get the maximum benefit.

As it has been proven that such downturns are the best times to get the maximum benefits, if you are looking at investing in this timeless investment avenue, now is the time. Happy Land Buying

Courtesy:- Et dtd:- 16-03-09

#

Construction (P) Ltd. (BLGC) has recently expanded its horizon, it will now construct

and promote properties under its own

name as well. Operating under a renewed brand identity, BLGC maiden offering is a

prime commercial space in the heart of South Delhi, BLGC Square. Located in Okhla

Phase I Community Centre, a prime location, BLGC Square is a 36,000 sq ft commercial

complex spread across G+3 floors. The project boasts of an enviable neighborhood that

includes an upcoming 5-star hotel, a designated central green zone and a multi-level

parking lot within 100 meters, and provides facilities such as police station, fire

station and a health centre within the community centre itself. It is slated to be

ready for fit-outs in June this year. Following the BLGC Square will be the BLGC

Euphoria, an ultra luxury housing complex in

Noida, which will be ready for possession by October 2009 and a mid segment

housing complex in Gurgaon that will be launched b the year-end.

Courtesy: - HT dtd: - 07-03-09