More Stories
Home Buyers May Have To Wait... Rates Unlikely To Fall - The Economic Times - 22-Aug-2016

Prospective home and car buyers who were holding their breath might as well exhale as interest rates are unlikely to fall anytime soon.

Designated RBI Governor Urjit Patel is seen by many as much as an inflation hawk as outgoing Governor Raghuram Rajan and is likely to continue with his predecessor's hawkish stance.

It was the committee headed by Deputy Governor Urjit Patel that recommended the 2 per cent to 6 per cent inflation target range and also suggested that inte ..

Read more....

Home buyers may have to wait... rates unlikely to fall


(image)


Designated RBI Governor Urjit Patel is seen by many as much as an inflation hawk as outgoing Governor Raghuram Rajan and is likely to continue with his predecessor's hawkish stance.

Creating Effective Customer Experiences In The Tech Era - Financial Chronicle - 22-Aug-2016

In this era of digital media, everyone talks in terms of technology, but it still means a lot to discuss other normal customer issues like emotion, stories and responsiveness. It is never old fashioned in that sense, as customers are human beings themselves. Many organisations today talk of creating customer experiences, but to a majority of them it is still about wishing the customers on their birthdays and anniversaries! Is that customer experience management?

In the last column, it was discussed how each customer has a different experience need because of the technology explosion. In a similar way, the customer story is an interesting way to manage customer experiences in the B2B industry. Stories create a reverse path to buying. It is all about identifying and making use of the salient emotive drivers that will result in a gratifying customer experience. This can indeed be shared across for positive brand emotions.

Read More...

Affordable Housing Segment Growing Across India - Livemint - 22-Aug-2016

The affordable housing sector has seen a massive surge of close to 100% (double) in new launches in the first half of 2016 (H1 2016), as against the same time last year, according to a report by real estate consultancy Cushman & Wakefield. The total number of affordable housing (up to Rs.70 lakh for Mumbai and Delhi; Rs.20 lakh to Rs.50 lakh for rest of India) units launched in H1 2016, in the top eight cites, were recorded at over 17,000 units; while the total units launched in these locations were recorded at 60,000 in H1 2016, registering an increase of nearly 17% year-on-year (y-o-y).

Affordable housing segment growing across India: report


(image)


The highest supply of affordable housing was recorded in Pune at 4,170 units, followed closely by Bengaluru at 4,155 units

In terms of volume, however, mid–ranged housing (Rs.70 lakh to Rs.2 crore for Mumbai and Delhi; Rs.50 to Rs.1.2 crore rest of India) saw the highest number of launches at 36,267 units in key markets, recording 10% increase y-o-y in H1 2016.

Read More...

Livemint


'Residential Real Estate Q2 Sentiment Improves' - Financial Express - 20-Aug-2016

The real estate market, which has shown signs of recovery earlier this year, has witnessed an improvement in sentiment during the second quarter of this year.

According to a joint study conducted by property consultant Knight Frank and FICCI, office markets across the top six cities of the country including Bengaluru, Delhi-NCR, Mumbai and Pune, witnessed good traction in the first two quarters of 2016.

More than 60% of the respondents believe that leasing volumes are going to improve further in the next six months.

The real estate sentiment index is based on a quarterly survey of key supply-side stakeholders, which include developers, private equity funds, banks and non-bank financial companies (NBFCs).

Read More...

Piramal Realty Awards Rs 700-Cr Contract To L&T - Financial Express - 20-Aug-2016

Piramal Group's real estate firm Piramal Realty has awarded Rs 700-crore contract to L&T Group for construction of its housing project in Mumbai.

Piramal Realty firm awards Rs 700-cr contract to L&T


(image)


Piramal Group’s real estate firm Piramal Realty has awarded Rs 700-crore contract to L&T Group for construction of its housing project in Mumbai.

The Mumbai-based realty firm is developing a project in Byculla – Piramal Aranya – with the total investment pegged at Rs 4,450 crore, including land, and project development and execution costs, the company said in a statement today.

"Piramal Realty has awarded engineering and construction company Larsen & Toubro (L&T) Construction with the contract for the core and shell civil work for Piramal Aranya. Covering nearly four million sq ft of construction area, the contract is worth over Rs 700 crores," the statement said.

Read More...

MCG Was Aware Of Illegal Aravali Colony: Ex-Official - Times of India - 20-Aug-2016

MCG was aware of the unauthorised settlement of 1,200 hutments in the Aravaliforest area, which was discovered by the chief minister's flying squad on Thursday, as early as March, a former civic official has claimed. Even DHBVN knew about the power theft by the encroachers, he told TOI.

MCG was aware of illegal Aravali colony: Ex-official


(image)




"I had informed a joint commissioner-level official of the corporation about the encroachment in March this year, but no action was taken. The MCG's enforcement wing and the power discom were also aware about the illegal settlement and power theft, but they too did not take any action," the former MCG official said, on condition of anonymity.


Read More...

Govt To Bring Out Low-Cost Housing Scheme For EPFO Subscribe -The Indian Express - 22-Aug-2016

The Labour Ministry will come out with a scheme to provide low-cost housing for retirement fund body Employees' Provident Fund Organisation (EPFO) subscribers, Union Minister Bandaru Dattatreya said on Sunday.

Govt to bring out low cost housing scheme to encourage Provident Fund membership


(video)


Union Minister Bandaru Dattatreya said six regional conferences of labour departments of state governments will be soon held which will focus and review on enforcement of labour laws among others.

"To further encourage members to continue their PF membership throughout their working life we are actively considering a proposal to assist PF members in getting a house by pledging their present and future PF accumulations. The members would be free to procure a house wherever they want," Dattatreya, the Union Minister of State for Labour and Employment told reporters here.

Read More...

एमार एमजीएफ बिल्डर का रुख तय करेगा आवंटियों की राह - दैनिक जागरण - 22-Aug-2016

पिछले सात साल से आशियाने के इंतजार में बैठे आवंटियों ने एमार एमजीएफ के खिलाफ आगे की रणनीति को लेकर डीएलएफ फेज पांच स्थित क्लब में रविवार को बैठक का आयोजन किया। बैठक में तय हुआ कि पहले बिल्डर, अधिकारी एवं आवंटियों की बैठक में क्या होता है, देखा जाए। यदि बैठक में बिल्डर का जवाब गोलमोल रहा तो कोर्ट का दरवाजा खटखटाया जाएगा।

एमार एमजीएफ बिल्डर का रुख तय करेगा आवंटियों की राह 14547542


(image)


संवाद सहयोगी न्यू गुड़गांव : पिछले सात साल से आशियाने के इंतजार में बैठे आवंटियों ने एमार एमजीएफ के ख

आवंटी एसपी मल्होत्रा, उमेश सपरा ने बताया कि कुछ दिन पहले ग्रीवेंस कमेटी की बैठक में भी इस मामले को प्रमुखता से उठाया गया था। बैठक में नगर एवं योजनाकार विभाग के अतिरिक्त मुख्य सचिव पी राघवेन्द्र राव भी उपस्थित थे। तय हुआ था कि अगले 20 दिनों के अंदर बिल्डर, आवंटी व नगर एवं योजनाकार विभाग के आला अधिकारियों के बीच ट्राई पार्टी बैठक कर बिल्डर पर जल्द से जल्द लोगों के आशियानों को देने के लिए दबाव बनाया जाएगा। पहले बैठक का नतीजा देख लेते हैं फिर आगे की रणनीति तय की जाएगी।

Read More...

RERA Rules Silent On A Pressing Issue - The Indian Express - 20-Aug-2016

Prime Minister Narendra Modi's recent Independence Day speech on how his government's Real Estate (Regulation and Development) Act provides succour to beleaguered home-buyers may be a little too high on rhetoric. The recently-issued RERA rules, while being strictly applicable to new project launches, are riddled with loopholes that let builders who have delayed ongoing projects wriggle away easily.

RERA rules silent on a pressing issue


(image)


The recently-issued RERA rules, while being strictly applicable to new project launches, are riddled with loopholes that let builders who have delayed ongoing projects wriggle away easily.

Following pressure from consumer groups, the Union government has now agreed to revisit some of the provisions so as to make it mandatory for all ongoing projects to give complete disclosure of, among other things, changes made in their plans over the years, originally promised time period for handover of project, the total amount collected from home-buyers as well as the amount the builder is left with.

Read More...

MCG Plans 3-Km Nature Trail In City - Hindustan Times - 20-AUg-2016

The Municipal Corporation of Gurgaon (MCG) is to develop a three-kilometrelong nature trail at an isolated rocky area near DLF Phase 1. The corporation's technical committee has approved the proposal and tenders will be floated next month. The project is expected to be completed by early 2017.

The trail will start near Silver Oaks apartments on Gurgaon-Faridabad Road, pass through an old temple, by the Le Meridien Hotel and then conclude at Guru Dronacharya Metro Station on MG Road. It is expected to be a 45 minute to one hour journey.

Read More...

Govt Delves Into Etailers' GST Grouse - The Economic Times - 22-Aug-2016

The government is looking into the biggest concern of online retailers with the goods and services tax (GST) — rules relating to returned goods that have at times even reached as high as half their sales.

The draft GST law does not provide for credit on tax paid on returned goods, potentially imposing double taxes on sellers — tax paid on returned goods and again when replacements are provided. GST may be put in place as early as April 1.

The industry also fears return ..

Read more...

Government delves into etailers’ concerns on GST


(image)


The industry also fears return of the permit raj, with the law allowing states to seek additional documents from transporters carrying goods exceeding Rs 50,000.

Don't Wait, Buy A House Within Your Budget - Business Standard - 22-Aug-2016

Advice for ones sitting on the fence perpetually: It makes sense to buy your first property even if it isn't in the perfect location or of the right size.

Banker couple Ashesh Bharti (31) and his wife Priyanka (29) have been going through the same dilemma for some time. While Priyanka wants to buy the house right away, Ashesh feels it's better to save and buy one that would meet all their needs. "If we stretch ourselves, we can afford a house that costs Rs 1.4 crore now. The best we can get, in this budget is a two-bedroom property in the distant suburbs of Mumbai. The way our careers have progressed, in the next 7-10 years we should be able to buy a three-bedroom flat in a better location," says Ashesh. Priyanka, on the other hand, believes they should purchase one now and upgrade to a bigger property by selling this one at a later date.

Experts believe in most cases buying a house one can afford at present can work out to be a better option. Later, the buyer can sell it to buy a bigger house or one at a preferred locality.

Read More...

Don't wait, buy a house within your budget


(image)


It will bring down the cost of a second house because of tax benefits and price appreciation

Builders Team Up Beat Slowdown - Financial Express - 22-Aug-2016

In a bid to cope with stress in residential real estate, Unitech is understood to have teamed up with Godrej Properties, which would help it complete a project in the national capital region. In another alliance, Pune-based developer, Lotus Group has inked two deals with Godrej Properties and Tata Housing. Rohan Lifespaces, meanwhile, has joined hands with Mumbai-based Radius Developers for a project on Hughes Road, Mumbai.

Here’s how Unitech, Godrej Properties, others are looking to beat property market slowdown


(image)


In a bid to cope with stress in residential real estate, Unitech is understood to have teamed up with Godrej Properties, which would help it complete a project in the national capital region.

While partnerships between developers were being forged even a year back the increasing cash burn is changing the nature of the alliances. Earlier, joint development agreements (JDA) were typically signed between builders and land-owners — essentially those players that had bought prime plots but hadn't monetised them yet.

Read More...

Who Pays If Builders Don't Have The Money? - HT Estates - 20-Aug-2016

The Supreme Court (SC) this week directed Unitech to deposit ` 15 crore by September to pay homebuyers invested in its Gurgaon residential project since 2009. The company was ordered to deposit ` 5 crore in the court's registry within two weeks and ` 10 crore by the end of September to pay back 38 buyers. It also fixed October 4 to decide on amount to be paid to buyers by Unitech for delay in interest payment. ABHAY UPADHYAY, national convenor, Fight for RERA

Read More...

Reasons: Sentiment, Delayed Reforms, And Of Course Price - The Indian Express - 20-Aug-2016

The latest Reserve Bank of India (RBI) data revealed that the annual rate of increase in its House Price Index (HPI) (which measures home price levels across the nation) fell drastically to 5.2 per cent in Q42015-16 from 9.7 per cent in the previous quarter and 17.5 per cent over the quarter ended March 2015.

Sentiment, delayed reforms, and of course price


(image)


While the RBI data indicates a moderation in the pace of growth in prices, data from Knight Frank (India) reveals that housing prices in the country’s top eight cities have remained stagnant for the last eight quarters.

While the RBI data indicates a moderation in the pace of growth in prices, data from Knight Frank (India) reveals that housing prices in the country's top eight cities have remained stagnant for the last eight quarters. Our data also reveals that the housing demand has stayed muted for several quarters in a row. At the all-India level (eight top cities — Mumbai, NCR, Bengaluru, Pune, Chennai, Hyderabad, Kolkata and Ahmedabad), the fulfilled demand for housing units tapered to around 2,63,700 in 2015 from 3,68,560 in 2011. In top metros such as Mumbai and NCR, the absorption levels have come down by 35 per cent and 50 per cent, respectively, during this period. The unsold inventory in the top eight cities in H22015 make up over 6,91,000 housing units in different stages of construction.

Read More...

Global Funds Take JV Route For Re-Entry In India Realty - Business Standard - 22-Aug-2016

Some of the biggest global investors such as Morgan Stanley, Macquarie and Ivanhoe Cambridge (an arm of Canada's CDPQ) are re-entering Indian real estate after a long gap. These three investors are looking to forge joint ventures worth Rs 4,000 crore. These investors, along with others such as Goldman Sachs, Citigroup, Merrill Lynch, Credit Suisse, Lehman Brothers and Deutsche Bank, had either exited Indian real estate or became dormant after the global financial crisis of 2008, as they sought to clean their balance sheets and concentrate on home markets. Now, with reforms taking ...

Global funds take JV route for re-entry in India realty


(image)


Morgan Stanley is in active discussions with Oberoi Realty to form a Rs 1,000-crore JV to invest in the latter's malls in Mumbai

Read More...

Allotment Of Flat Without OC Is Illegal - Business Standard - 22-Aug-2016

Avadhut Co-operative Housing Society had entrusted the redevelopment of its society property to Kamla Ankur Developers. One of the free sale flats in this project was sold to Chaya Bavadekar. According to the agreement for sale on January 20, 2011, flat number 703 was to be sold to Bavadekar for Rs 1,82,40,000, and possession was to be given by March 31, 2012.

On receipt of the entire amount, the builder asked Bavadekar on January 17, 2013, to take possession of the flat for fit-out. However, since the occupancy certificate (OC) was not obtained from the Mumbai Municipal Corporation, Bavadekar could not occupy the flat. Contending the builder had failed to give legal possession of the flat, Bavadekar filed a complaint before the National Commission, seeking a direction to the builder to obtain the OC and for award of compensation.

Read More...

Allotment of flat without OC is illegal


(image)


The builder must get occupancy certificate on time. In case of any delay, the builder must compensate the buyer with rent for that period

नहीं सुधर रही सड़कों की हालत - दैनिक जागरण - 20-Aug-2016

बारिश के बाद सड़कों पर हुए गड्ढ़ों को भरने का कार्य नहीं शुरू होने के कारण लोगों को परेशानी हो रही है। शहर की कई मुख्य सड़कों सहित कई कालोनियों की सड़कें टूट चुकी है। हालांकि कई जगहों पर नगर निगम ने गड्ढ़ों को भरा है, लेकिन अभी भी कई सड़कें जर्जर हालत में हैं। खासतौर पर न्यू गुड़गांव के सेक्टर 39, 40, 46 की सड़कें पूरी तरह टूट चुकी हैं। करीब दो माह से टूटी सड़कों के कारण लोग परेशान हैं। पुराने गुड़गांव की सड़कों की भी यही स्थिति है। गड्ढों में हो रहे जलभराव के कारण परेशानी ज्यादा बढ़ गई है। सेक्टर 39 और 40 की मुख्य सड़कों पर तालाब जैसे हालात बने हुए हैं। सड़कें टूटी होने के कारण ट्रैफिक जाम भी हो रहा है। इसके साथ ही हादसा होने का डर भी बना रहता है। कई दुपहिया वाहन चालक भी गड्ढ़ों के कारण चोटिल हो चुके हैं। उधर, नगर निगम के अधिकारियों का कहना है कि जल्द सड़कों की मरम्मत शुरू किया जाएगा।

Read More...

More posts are loading...