real estate india

WORKING FROM HOME

A HOME OFFICE IS THE EMERGING TREND TODAY. WITH TIME BEING A LUXURY, MANY ARE OPTING TO SPEND ON A FULL-FLEDGED HOME OFFICE.

With new houses mushrooming every day and commuting becoming the bane of our lives, coupled with high levels of noise pollution, the concept of home offices are becoming increasingly popular. Whereas America has had this concept for decades, it was earlier meant for women working part time where they could fulfill the dual demands of running a home as well as their careers. No longer is this true, Jyoti Aggarwal a financial analyst for Wall Street mostly runs her office from her Manhattan apartment, whereas Neera Raj a full time realtor has a beautifully appointed home office in her New Jersey mansion. The same is true here as well. Many executives, COOs, designers, architects run their office from home. Not only does it give them flexible work hours, but those who operate from their corporate offices can come home early enjoy a workout at a local gym and get back to work with their shoes off in the leisure of their home offices.These spaces are not meagerly done up to work as a make shift back office, in fact detailed planning and execution goes into these specifically demarcated areas.

In a lot of cases these spaces are modern and functional while others have beautifully laid out carpeting, chandeliers, mahogany desks and of course the laptop, with a seating of a comfortable sofa set, coffee tables to match for those meetings conducted at home even on a weekend.

Jagdeep Rangargh, head of Stork Group of Companies, has a lovely home office in his DLF home and he completely enjoys working from there. Complete with wooden flooring, a desk and his computer, he manages his entire group of companies even though he travels around the world for his business meetings. His wife Poonam reveals that many a Sundays, he works from here and is also able to catch up on a game of golf, while he can come home early and work late into the night whenever he wants. Lined with a complete library, this is where Poonam catches up with most of her reading while Jagdeep works.

Aashish Thakur, head of Ashwin Enterprises has a modern and functional home office in the basement of his house. Done up in light wood, the basement has been divided into portions as work stations with glass doors separating them. The other part is his wife Anjali’s, who runs her design business from there. Interiors and furniture is their concern and a home office in their Phase-III home is definitely an advantage, apart from his main office.

Courtesy: - ET Realty dtd:- 29th August 2008

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3/4 bedroom apartments available in The Nile - Omaxe, Gurgaon

3/4 bedroom apartments available in The Nile - Omaxe, Gurgaon. Jacuzzi bathtub & cubical shower in bathroom attached to master bedroom Fans & decorative light fitting in all rooms Modular kitchen cabinets Swimming Pool, Club with all facilities like gymnasium, Sauna bath, Jacuzzi bath, indoor & outdoor games in the complex. Children’s playground and an exquisitely landscaped central park. Earthquake resistance structure and Vaastu friendly layout.

Area:                      

Transportation:                 Gurgaon at Sohna – Gurgaon Highway

Type of property:               Apartments

Type of ad:                        Individual offer

# of rooms:                         4

# of bedrooms:                   3

# of baths:                             3

Basic rate:                             

Amenities:                             High tech security & Fire fighting systems , Power Back-Up

For the further information login http://http://www.zameen-zaidad.com/

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RUSH OF APARTMENTS SPELLS FURTHER TROUBLE FOR PRIVATE REALTY FIRMS

If the sale of over 600,000 application forms for the 5,020 apartments on offer by the Delhi Development Authority (DDA) is any indication, private developers in the national capital region are in for tougher times ahead, as investors are betting on their chances for higher returns from the cheaper DDA flats. On an average, a DDA flat is on offer at half the price of apartments being developed by private developers.

“Customers are calling us to find out the resale value of DDA flats, which they may be alloted. The profit that a customer will make on the resale would range between Rs 35 lakh and 50 lakh for a three-bedroom apartment of 1,614 square feet in the west Delhi locality of Pitampura”, said a property broker based in the area.

The resale value of a 900 sq feet DDA apartment in Pitampura is pegged at between Rs 60 lakh and Rs 65 lakh.

Last month, the DDA announced a housing scheme in which it has put on offer 5,020 one-, two- and three-bedroom apartments all over Delhi. The last time DDA had put flats on sale was in 2006, when it sold nearly 3,818 apartments across the city.

The fresh supply of apartments from DDA is equivalent to the total number of apartments offered by the top five private developers in the current year .

The DDA apartments are coming into the market at a time when private developers are finding it tough to sell the apartments due to buyers baulking at the interest cost on home loans, which range above 13 per cent. In addition, the situation will become tougher if the expected supply of nearly 1,200 cooperative group housing society apartments in various pockets of Delhi, primarily the western locality of Dwarka, comes into the market. According to some reports, the long delayed allotment process may happen by the end of this year.

In the three-bedroom apartment category, DDA is offering 625 apartments at an average price of Rs 3,170 per sq ft.

In the two-bedroomhttp://www.zameen-zaidad.com/search-property.aspxhttp://www.zameen-zaidad.com/search-property.aspxhttp://www.zameen-zaidad.com/search-property.aspx category, as many as 889 apartments are on sale at an average price of Rs 2,909 per sq ft.

In contrast, the average per sq ft price offered by private developers ranges between Rs 3,500 and Rs 5,000 for mid-end apartments. At this price, DDA apartments are cheaper than those of a private developer, especially in the mid-end segment, a broker pointed out. Of course, buyers do not get the same facilities or quality in DDA apartments that private developers offer in theirs.

“The mid-end segment market will certainly shift towards the DDA apartments since they are available at a much lower cost with high resale value. But the premium segment will remain unaffected as the customer for this segment will never go for DDA flats,” said Shveta Jain, associate director residential, Cushman and Wakefield.

There is another plus point that may attract buyers to DDA apartments — its apartments are ready for delivery. The authority charges a registration amount of around Rs 1,50,000 from applicants, with assured possession in around three months after the draw of lots is conducted (around Diwali this year for the latest offer). The delivery period of private properties is much higher at an average of 36 months from launch, with buyers required to either pay upfront or given the option of staggered payments.

Courtesy:- BS dtd:- 28^th August 2008

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Supertech Limited. Indirapuram

2/3 BHK Flat available in Supertech Icon of Supertech Limited. Indirapuram- Sufficient green spaces, Private balconies with all bedrooms, Internet broad band connectivity. Ample parking space.Hi - tech security & fire fighting systems-Modern high speed lifts, Multipurpose hall, Power backup & round the clock water supply,

Welcome to SUPERTECH ICON. Marking a new beginning in your life. Add to it the basic amenities like schools, multiplexes, clinics, parks, shopping complexes and malls within easy reach and you will get a cherished lifestyle.

Area:                             

Transportation:            Indirapuram,Ghaziabad NH-24

Type of ad:                      Parsvnath Exotica, Sector 53, Golf Course   Road, Diagonally Opposite to DLF, Golf   Course, Gurgaon

Type of property:        

# of rooms:                  

# of bedrooms:           

# of baths:                    2

Basic Rate:                    Rs/- sq.ft.

Amenities:                     Basement, Lift, Parking(Covered Open)

For the further information login http://http://www.zameen-zaidad.com/

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2/3 BHK Flat available in Supertech Icon of Supertech Limited. Indirapuram- Sufficient green spaces, Private balconies with all bedrooms, Internet broad band connectivity. Ample parking space.Hi - tech security & fire fighting systems-Modern high speed lifts, Multipurpose hall, Power backup & round the clock water supply,

Welcome to SUPERTECH ICON. Marking a new beginning in your life. Add to it the basic amenities like schools, multiplexes, clinics, parks, shopping complexes and malls within easy reach and you will get a cherished lifestyle.

Area:                              Uttar Pradesh › Indirapuram Ghazi bad

Transportation:            Indirapuram,Ghaziabad NH-24

Type of ad:                    Individual - Offer

Type of property:         Flat

# of rooms:                   3

# of bedrooms:            3

# of baths:                    2

Basic Rate:                    Rs.2700/- sq.ft.

Amenities:                     Basement, Lift, Parking(Covered Open)

For the further information login http://http://www.zameen-zaidad.com/

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2/3 BHK Flat available in Orange County

2/3 BHK Flat available in Orange County of Meriton Group, Indirapuram- Sufficient green spaces, Private balconies with all bedrooms, Internet broad band connectivity. Ample parking space.Hi - tech security & fire fighting systems-Modern high speed lifts, Multipurpose hall, Power backup & round the clock water supply, Gardenia Square is such a beautiful place that fulfills your every dream and desire.

Orange County has a strategic advantage in terms of close proximity to Delhi. You can have the best of ultra modern lifestyle and yet be close to Delhi in more ways than one. In fact Orange County gives you the best of both the worlds. 

Area:                              Uttar Pradesh › Indirapuram Ghazi bad

Transportation:            Indirapuram,Ghaziabad NH-24

Type of ad:                    Individual - Offer

Type of property:         Flat

# of rooms:                   3

# of bedrooms:            3

# of baths:                    2

Basic Rate:                    Rs.3600/- sq.ft.

Amenities:                     Basement, Lift, Parking(Covered Open)

For the further information login http://http://www.zameen-zaidad.com/

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TO INVEST RS 2,000 CR IN 2 YEARS; FOUR PROJECTS IN BANGALORE, HYDERABAD

Citigroup-backed Golden Gate Properties plans to invest close to Rs 2,000 crore over two years in affordable housing projects, a senior official said. The projects will be funded primarily through customer sales, apart from banks loans to the tune of Rs 500 and equity, Golden Gate managing director K Pratap said.

The Bangalore-based developer on Thursday announced plans to start construction on four township projects in Bangalore and Hyderabad, all grouped under the brand name Commune. A significant portion of each development will comprise low-cost housing units with an area of 995-1122 sq ft.

“A large section of society is unable to own homes owing to spiraling real estate costs. The Commune has been conceived to fulfill this need-gap. The starting price for the affordable housing units will be around Rs 19 lakh. These properties will be on a par with premium developments in terms of quality, treatment and amenities,” he said.

Citigroup has invested Rs 150 crore in Golden Gate and Deutsche Bank $70 million. Golden Gate plans to expand to several southern cities with affordable housing projects.

Earlier this week, Bangalore’s Puravanakara Group also outlined plans to develop low-cost housing. The Housing Ministry estimates the shortage of homes in India at 24.71 million, most of it among economically weaker sections and low-income groups. Golden Gate’s first project, comprising 2,500 apartments on 30 acres, is located some four km off the road link to Mysore while the second will come up in the Sarjapur area on the city’s periphery on 100 acres.

In Hyderabad, the company has acquired land in Tallapur and Secundrabad. “Each project will be developed in a phased manner. The Bangalore model will be replicated across cities with some modifications to suit local tastes,” he said. The company hopes to drive down costs by acquiring land on the outskirts of cities and using modern construction techniques to bring down labour count by 75%.

                                                                         Courtesy: - ET dtd: - 23rd August 2008

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NRIS INVESTING IN PROPERTY IN INDIA

With economies all over the world going through a depression, and the domestic economy showing prospects of bouncing back, NRIs are looking at property investments here

At a time when the US and European economies are spiraling downwards, the domestic economy in general is looking up, despite the current slowdown. Not surprisingly, the NRIs are investing in various sectors, including real estate. Several real estate projects across India have garnered approximately 10-20 percent participation from NRIs. The return on investment provided by real estate here has been found to be more attractive than that offered by developed nations. Also, the simplified process of investments has reversed the equation and many NRIs have been consistently investing in properties.

Rajesh Goenka, chairman and CEO, Axiom Estates, says, “They are the most affluent lot among real estate buyers in India, showing interest in buying large chunks of land in their home country. They are not affected by the current slowdown, as they take a long-range view of the whole scenario. They have faith in the domestic economy, and firmly believe that the prices will appreciate by at least 10 to 15 percent every year. They see the downturn as an opportunity to invest in large chunks of land or even developed areas which they get at a good discount from even the top developers.”

He adds, “According to our assessment, the interest from NRIs has increased almost by 20-25 percent every quarter, which is almost two to two-anda-half times in the last two to three years. Interestingly, not just investors from the Gulf countries, but even from UK and USA have shown interest.”

Raminder Grover, Managing Director, Homebay Residential, Jones Lang Lasalle Meghraj says, “Many NRIs in the US and UK are not as confident as before of sanctity of their employment, while others are disturbed by negative economic patterns across developed countries. They see greater potential for India overcoming the current economic setbacks. Sentimental attachment to their country of origin is another reason.”

NRIs can expect appreciations anywhere upwards of 15 percent per annum and rental yields of 4-6 percent on property here.

There are different types of NRIs, as Akshaya Kumar, Managing Director, Parklane Property Advisors, puts it. “The Gulf NRI is one who is bound to return. NRIs are looking for decent returns, and might think of holding property here, while investors from UK and US are pure investors. NRIs mostly have an affinity to the areas they come from,” he says.

Bangalore, Pune, Mumbai, Indore, Baroda, Chandigarh, Gurgaon, Kolkata and Goa seem to draw the highest number of serious inquiries. So do second home destinations and extended suburbs. Those with business aspirations are investing wherever IT/ITeS is making its presence felt. Mostly all sectors including residential, commercial, and retail have seen good NRI investments.

As opposed to earlier times when an NRI had to struggle with various rules, income tax and other issues, these days the NRI is being welcomed with open arms, and this has elicited an extraordinary response. Today, NRIs enjoy high returns, easy repatriation with no tax on sale proceeds, and easy loans. There are several realtors, financers and other organisations specialising in easy financing and mortgages for NRIs and high net worth individuals.

Courtesy: - TOI dtd: - 23rd August 2008

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DEVELOPERS OFFERING DISCOUNTS, FREEBIES TO BUYERS

Developers today are offering discounts, freebies and value add items. This includes discounts in values, freebies in amenities like discounted parking space or lifetime club membership, value adds like providing interiors and ready-to move homes at little discounted rate.

Discounts would mean reduction in the upfront money the customer would be paying to the developer.

Discount in parking spaces would mean anything between Rs 10,000 to Rs 20,000. Values add interiors will include goods like fans, wardrobes and so on. Ram Yadav, head of a finance company says, “It all depends on how you position your project. Builders are trying to put together all these three elements for their customers, but again, it is not across the board.”

                                                                Courtesy:- ET dtd:- 22nd August 2008

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MORE AFFORDABLE HOUSING COMING UP IN THE NEAR FUTURE

Realty major Puravankara Projects will invest Rs 8000 crore for its foray into affordable housing through its wholly owned subsidiary, Provident Housing and Infrastructure Limited.

In the first phase, the affordable housing project will cover Bangalore, Chennai, Hyderabad, Coimbatore, and Mysore where 64,500 homes with a total built-up area of 59.80 million square feet will be constructed over the next five years.

The funding for these projects will be through construction debt and customer advances amounting to Rs 6500 crore, with internal accruals and equity sourcing the remaining Rs 1500 crore which will be utilized for land acquisitions.

                                               Courtesy:- ET dtd:- 22nd August 2008

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