Wave Inc., has launched a new project – Wave 1st Silver Tower, in Sec-18, Noida.

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Kanball Infrastructure (P) Ltd., has launched a new project – Kanball 3G in Sector 77, Noida.

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Purvanchal Projects (P) Ltd., has launched a new project – Purvanchal Royal Park in Sector 137, Noida.

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The collective reviews and ratings from multiple users carry more weight than builder’s claims and help the potential buyers in selecting the right property.

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The realty market in India is flourishing these days. Not just the domestic real estate developers but also the investors from all across the world; especially the NRIs are attracted to this Indian real estate market. If this continues, it is then expected that very soon the realty market will overtake the other industrial sectors in terms of contribution to GDP growth.

Currently, the major constituents of the Indian housing industry are the affordable houses which target especially the low income groups and economically weaker class. In the field of medium and luxury housing, in next few years, it is expected to see a remarkable growth since this segment has huge prospects for further developments. The hiring of expat employees by the MNCs and then providing them with luxury housing benefits is one of the reasons for the development of this sector. Also, the demand for luxury housing by NRIs is acting as a catalyst in the growth of this sector in India.

RNCOS presented a report called “Indian Housing Sector Analysis” in which it gave exhaustive information and objective analysis about the growth of Indian housing industry. The current and past market performance, market structure and factors critical to the success of the Indian housing industry are also covered in this report.

Based on the relation between the past market growth and growth in base drivers, such as government support, long-term interest rates, disposable personal income, household size, contribution by housing finance industry, GDP growth, growing industrialization and competitive structure, a forecast is been made in this report about the Indian realty market.

It is never easy to find answers for the questions like how to buy a house, which option is best for me, or whom to rent my house, etc. Although these questions are important to one, but people forget the most basic question which is ‘when to buy?’.

Someone has rightly said “Never bite off more than how much you can chew”. One must always be realistic and look forward to a house according to his own budget.

The financial planners advice you to have a thumb rule that never go for a property for which the EMI loan amount exceeds 40% of your take home. You must be careful enough and make sure that the return on investment pitch given to you by the broker or the builder doesn’t fool you.

Next, the reverse mortgage schemes offered by the financial institutions can be of great use in the latter years of life if so required. At any point of time, one must not give a thought to how much money he can save in the long run if a house is purchased.

Another area which one must consider is that the decreasing interest rates and the increasing real estate rates are not always a nice combination. Thus, one must be careful enough while selecting his dream home.

Finally, especially for the individuals who are on the drive of establishing themselves, the financial advisers suggest not to have heavy loan burdens as it may hinder their growth.

Ahmedabad happens to be one of the 11 countries for which the reserve bank of India would prepare one index for commercial and one for residential properties. This is done to curtail speculations and expected realty bubble burst in the coming years. The RBI report on asset price monitoring system (ASMS) advised to formulate these indices two months back.

Many different countries such as Canada, France, us refer to these indices for realty prices.

The report says, RBI should start compiling a realty index and update it every quarter. To begin with, the report has proposed Mumbai and Delhi where property prices have skyrocketed to record levels. After these cities RBI would add 10 other cities which include Greater Chandigarh, Hyderabad, Chennai, Bhubaneswar, Pune, Jaipur, Kolkata, Lucknow, Bangalore and Bhopal.

The real estate price index once devised would become the primary index that could be perused by investors to gauge the performance of companies that are listed in the realty sector. The index can also help the investor analyze how real estate is performed in comparison to stocks and bonds. It can also provide information on the risk involved in a particular investment and returns that can be achieved from it.

The ASMS report has defined the deficiencies this indices would help overcome.

One of the world’s largest Real Estate franchising networks RE/MAX has formed an alliance with a Bhopal based firm, Vision Advisory Services. Re/max proudly boasts off more than seven thousand open offices in 74 countries. This is the first time a company as big as RE/MAX has taken a step towards building a network of Real Estate community on a national level.

The director of Vision Advisory Service, Pradeep Karambelkar said, “We look forward to being a vibrant part of the RE/MAX community and playing an important role in the real estate transactions in Bhopal.”

Vision Advisory Services focuses on ethical and transparent business practices, customer-first-attitude, research-based value investing, implementation of cutting-edge technology and respect for professionalism which has enabled them to create an impact in over 40 cities till date.

Vision Advisory Bhopal has been awarded with many felicitations by almost all major bigwigs of the Investment Industry. Vision advisory well supported by top notch professionals having expertise in well diversified financial services in the areas of Life and General Insurance, Financial Education, Training Manpower, Stock Broking, Real Estate, Mutual Funds and Resource Management.

It’s a first of a kind initiative taken by RE/MAX India which aims to bring organizing and professionalism in the unorganized real estate market of the country. RE/MAX India is also planning to open Franchisees in major towns and regions of the country.

Inno GeoCity’; a residential project, is launched by Inno Real Estate in Oragadam near Chennai. This firm is a division of Inno while Inno is a , a global investment group focussed on Indian real estate with operations in India, Middle East and Europe.

On Monday, Rajamannar Ramaswamy, the Group Managing Director said that GeoCity is the first own development project of Inno. Till now, they just used to fund other projects and they have already six Indian projects with a total gross development value (GDV) of Rs. 2,600 cr.

Sajid Sathak, the Managing Director said that Geocity, which is spread over an area of 131 acres would be a self-contained township and that it would have a GDV of Rs. 750 cr. 4,000 residential units would be available for buyers plus amenities such as shopping mall, school and medical facilities would be there.

The first phase of GeoCity will consist of 1,000 units and would complete within 1.5 years.

The houses would fall in any of the three categories; Row House I, Row House II and twin house. The cost of houses would fall in the range of Rs. 17 lakhs to Rs. 22 lakh.

It is an acknowledged fact that in the last one decade Pune has seen an enviable escalation in realty. The rise in construction activity has been widely attributed to Pune new face as the emerging IT hub of India following at the heels of over crowded Bangalore and beating Hyderabad that has recently been overwhelmed with the Telengana issue.

Pune is the safest, most stable and most rapidly progressing realty market, says Mr Shashank Paranjape, Managing Director of Paranjape Schemes, a city-based developer.

From 2001 onwards, the city witnessed a phenomenal growth. But it was only in 2003-04 that the Pune realty market actually took off, explains Mr Satish Magar, promoter of mega township Magarpatta and Chairman, Pune chapter of Confederation of Real Estate Developers Associations of India.

While IT is still the major driving force behind the real estate market, the demand and growth has also been fuelled by other industries. Pune also has more favourable conditions for living as Mumbai and Navi Mumbai are now largely unaffordable and saturated,” he says. According to Mr Magar, Pune has four growth engines IT, auto, educational and migration. “Migration to Pune from rural Maharashtra is on the rise due to the excellent demand for skilled and unskilled labour, leading to the growth of the city, he emphasises.

While the global economic slowdown of 2008-09 had some impact on the Indian economy, Pune realty market remained virtually unscathed. According to a study commissioned by PropEquity on The Performance of the Indian Residential Market, Pune real estate market remained steady throughout the period from the second quarter of 2008 till the fourth quarter of 2009.

Recession leads to re-invention

Mr Magar attributes this to the essence of the market. “Pune is not an investor driven market. The prices had never escalated beyond comprehension that is why the correction was also minimal, only about 10-15 per cent.”

According to Mr K.P. Baney, Managing Director, Devi Construction Company, the deeper impact of the recession was felt by the commercial sector. Demand dropped down by about 90 per cent in this sector, he says. As a result of the recession, however, most developers and builders across the city re-invented their projects to suit the lowered affordability index of the buyer who was the ubiquitous IT professional who felt the deepest impact of the global economic slowdown.

During the peak of real estate growth, aspirations were for a larger house. Two-bedroom apartments were from 1200-1500 sq ft in some areas. During recession, many builders cut prices of apartments by offering smaller sized tenements.

“Small affordable houses were and are more in demand. Pune real estate prices are always at 13-16 per cent of prices in Mumbai. So Mumbai builders suffered more, money wise, than Pune builders. However, Pune builders are used to working on lower margins,” admits Mr Baney. The mantra became affordable apartments, smaller, more compact and devoid of frills.

According to PropEquity report, the affordable range of apartments under Rs 30 lakh went up in the second quarter of 2009 by about 5,000 units while the mid-segment Rs 30-75 lakh grew marginally. The study also states that the prices of affordable housing have stabilised from Rs 2,600 per square foot to approximately Rs 2,300 sq ft during the recessionary period.

Growth Trajectory

According to a recent study, it is estimated that Pune will host a population of one crore in 20 years, and will be the sixth largest city in India. Its GDP will be third in the country after NCR National Capital Region and Bangalore.

With such an optimistic growth trajectory, Pune realty market is poised for growth, opines Mr Magar. According to him, almost 40,000 dwelling units will be added to the city landscape in this financial year, but demand will be higher than the supply.

While PropEquity study reveals a drastic rise in unsold inventory in the first quarter of 2010, Mr Paranjape is quick to respond. Most unabsorbed stock belongs to unrealistic sites or developers of disrepute. Most of us do have any unsold stock, he clarifies. Mr Baney opines: In city, and in reasonably good locations, there seems to be no unsold stock of residential accommodation. May be, flats being constructed in outskirts, or where infrastructure facilities are lacking, there may be unsold stocks. But generally the conditions are not that bad.

Ahmedabad

The state’s Urban Development Department’s is drafting a policy whereby all new buildings, residential and commercial, coming up in the city will have to pay extra money for the parking space well in advance or at the time of construction. This means people will have to shell out more for parking their vehicles in the parking space of a building. Money collected from the parking fees will be used to solve parking problems in other areas.

According to sources, five sectors like mall, multiplex, hotel, hospitals and institutional buildings will be initially targeted. Once the plan succeeds, it will be applied to commercial buildings. The reason behind choosing this sector is that people are already being charged when they park their vehicles at these buildings. Five new polices have been framed by the department. Two of which are already in place.

First is the parking policy and the other is a slum development policy. Chief Minister Narendra Modi was presented the draft policy in May 2010. But decision in this regard is yet to be taken. Urban Development Minister Nitin Patel said, “We have been successful in implementing the policy of residential townships. Collection of parking fees from new buildings was also discussed. Once the department proposes it, we will think over it.”

Sources said, “Out of 172 villages, 68 villages have been merged in AUDA from February 13, 2009. This was announced a few days after the Nano plant came to Sanand. The government wants to focus on 43 villages in and around Sanand and has signed an MoU with Japan to make these villages eco-friendly zones. An attempt to charge parking fees will be made here first.”

AUDA has already prepared a development plan (DP) of 1,295 square km, which covers 104 villages. But they are yet to frame a DP for the remaining 595 square km. They have been asked to prepare DP of this area in six months. They want to make a parking facility that will ease the traffic and parking woes, the sources said. There is no parking discipline in current building policies.

Mumbai

Travelling on the old Mumbai-Pune and Mumbai-Goa highway is set to get faster by a minimum of 35 minutes. A 2-km flyover coming up on the main highway will not only save you from traffic snarls near Panvel ST bus depot, but take you to Goa end of Panvel in just five minutes. Another 1.8-km flyover, being built between Khanda Colony and New Panvel over a railway line, will ease traffic movement in this crowded suburb.

The flyover on the old Mumbai-Pune Highway (NH-4) is being built by the Maharashtra State Road Development Corporation Limited (MSRDCL) and is expected to be complete by the end of the next year. The construction of the flyover is being funded by the Mumbai Metropolitan Region Development Authority (MMRDA). It is estimated to cost around Rs. 140 crore.

Work on the flyover started in August 2009. “Resettlement of a few hutment dwellers and ensuring that traffic is not disrupted during construction are some of the challenges we faced,” said MSRDC superintending engineer M D Koli. He expressed optimism about flyover work being completed within the stipulated time. Nearly 40% of the work on both the flyovers, including digging and construction of pillars, has already been completed.

The second flyover is being constructed between ST bus depot in Panvel and Garden hotel near Vashi Naka. The project is estimated to be complete by February 2012. The flyover is being built by the City and Industrial Development Corporation of Maharashtra Ltd (Cidco), with help from the railways. The project also includes increasing the width of the road and construction of an underground passage for pedestrians. A single-pillar construction, the flyover will have four lanes dedicated to Mumbai-Pune or Mumbai-Goa traffic. There will be two lanes on either side leading to the city.

New Delhi

A day after it was thrown open to public, Metro’s Gurgaon-Qutub line recorded a marginal increase in ridership — up from 36,182 on June 21 to 38,700 on June 22, 2010. Keeping in mind the rush, DMRC introduced a new train on the route. “With the addition of another train now, the total number of train trips in a day on this stretch has increased from 179 to 211. We expect the ridership to go up,” said a DMRC spokesperson.

While the Millennium City celebrated its first comfortable and fast public transport system, the Metro also triggered traffic jams outside stations where cars jostled to find parking space. Huge rush was reported from roads leading to Metro stations in Gurgaon on June 22. MG Road and Sikanderpur witnessed jams during peak hours.

The jams, cops said, resulted from lack of sufficient feeder buses which forced commuters to take their vehicles to Metro stations. “The roads leading to Metro stations were heavily clogged in the morning and evening peak hours and we had to struggle hard to regulate traffic movement,” said a traffic cop stationed near MG Road police station.

Amid chaos, residents said that their dream of having Metro in the city had come true but facilities are not up to the mark. “The parking lot at MG Road Metro station is very small and the stretch too is very congested. Due to this, reaching the station is a tedious task. The authorities should immediately widen the stretch and start feeder bus service to all five stations,” said R S Rathee, president, Gurgaon citizens council. “What will happen when the Metro reaches Central Secretariat? The authorities are not prepared to handle the rush,” he said.

Meanwhile, a large number of Delhiites made use of the Metro to reach their offices in Gurgaon. The footfall at Qutub Minar Metro station was 11,700 on June 22. But unlike Dwarka-Noida line, very few people are patronising this section. DMRC sold only 500 smart cards on the first day whereas close to 2,787 were sold on the opening day of Dwarka-Noida line. “We expect more rush once this stretch is connected to Central Secretariat,” said a DMRC spokesperson.

Mumbai

The city took a huge step towards improved commuter connectivity on June 21 when the first monorail rake for the metropolis was launched and tested in Rawang, Malaysia, where the 15 four-car rakes are being built. The sleek, blue-and-white rake will be shipped to Mumbai in early July and is expected to begin carrying commuters between Chembur and Wadala in December.

After that, Scomi, which has its plant north of Kuala Lumpur, has promised to ship 14 more rakes at the rate of one a month to Mumbai. The Chembur-Wadala monorail would be extended to Jacob Circle (Saat Rasta) in May 2011 and is expected to ease the rush on other mass-transit systems in the city. By 2016, the entire line is expected to carry 1.25 lakh commuters a day and by 2031 it could carry 3 lakh passengers a day. The monorail will use 18 stations and improve connectivity between the eastern suburbs and central Mumbai.

The MMRDA plans to develop Wadala, which will have the main monorail depot, along the lines of the Bandra Kurla Complex. Mumbai’s first monorail rake was inaugurated by Mumbai Metropolitan Region Development Authority (MMRDA) commissioner Ratnakar Gaikwad. Speaking on the occasion, Gaikwad thanked the Scomi group for delivering the rakes on time, but pulled up the Larsen & Toubro (L&T) group for delays.

Gaikwad said the standards for the curved beams, being made by L&T as part of the civil works for the project, are yet to be fully met. He said the monorail project has about 40% curved beams. “We want 100% precision levels in this and we will not tolerate 99.9% precision. This issue needs to be sorted out in the next 10 days,” Gaikwad added. State urban development secretary T C Benjamin said L&T has been told about the need for perfection.

MMRDA officials said the civil works comprised mainly straight beams and curved beams. While there was no problem with the straight ones, the MMRDA’s consultants want 100% perfection in the curved beams for smooth and hassle-free movement of the rakes. Gaikwad confirmed that Phase-1 would start by December and Phase-2 by May 2011.

“Even a day’s delay can mean a fine of Rs. 50 lakh to the contractor,” he warned. The MMRDA had earlier planned to deviate from its path at Jacob Circle due to terrorist Ajmal Kasab being imprisoned at Arthur Road jail. But Gaikwad said the MMRDA met the police chief and there was no problem with the route. The Chembur-Jacob circle route will have 15 rakes, each having a carrying capacity of nearly 600 people.

Gaikwad said that plans for monorail connectivity between Thane-Bhiwandi and Kalyan are almost finalised. “Since the Chembur-Saat Rasta monorail was the first of its kind, the MMRDA decided to fund the Rs. 2,460-crore project, but the Thane-Bhiwandi-Kalyan line will be on a Public Private Partnership basis,” he added. The MMRDA also plans to construct a monorail between Lokhandwala Complex and SEEPZ.

Mumbai

In a bonanza for residents of a Khar housing society, a builder has been buying off their mid-sized flats, paying each family between Rs. 4 crore and Rs. 5.5 crore. Mumbai-based Parinee Developers claims to have shelled out this huge amount for a one-BHK flat and Rs. 5 crore to Rs. 5.5 crore for a two and-a-half-BHK in the three-decade-old Bharatiya Bhavan Cooperative Housing Society (located at the corner of 17th Road in Khar west).

Parinee plans to demolish the buildings and set up a high-end residential tower. However, there is a word of caution from real estate experts. They warn these huge amounts may send wrong signals in the redevelopment market, unnecessarily create hype and raise expectations of other housing societies in the area. However, Parinee said it is paying this astronomical price only because the society has utilised barely 40% of its floor space index (FSI).

The developer has already bought out 20 of the 37 flats in the society and said it is negotiating with the remaining flat owners. “We are finalising the purchase of the remaining 17 flats. Our acquisition cost for all the flats is around Rs. 200 crore,” said a spokesperson for the developer.

The society has six buildings, each ground plus two floors, spread over an area of 5,570 square yards (over an acre) with ample open spaces and car parking. The one-BHKs have a carpet area of between 580 to 625 sq. ft. while the two BHKs are between 800 to 900 sq. ft. in size.

The Bharatiya Bhavan CGHS in Khar (west) has been on the block for the past four years. In 2007, the society had invited sealed bids from various developers and a Navi Mumbai-based builder, APA, had offered Rs. 180 crore to the society. There were several other leading builders in the fray, including Tata Housing, Wadhwa Group, Naman Developers and Acme.

However, the builder subsequently withdrew the offer due to recession and also because of infighting between two groups of flat owners. Some residents thought that APA’s offer was not enough. The fight culminated in a legal battle — Parinee Developer now claims it has helped resolve the issue between the two groups. In 2006-07, a slew of housing societies in the suburbs had received phenomenal offers from developers if they agreed to redevelop their properties. While some builders wanted flat owners to move out permanently by paying them off handsomely, others agreed to rehouse them in new and larger flats in the redeveloped property.

A real estate expert has a word of advice for housing society residents, “Don’t get greedy. Stick to only prominent developers who have delivered in the past.” The expert further said some unknown builders in the past had offered astronomical prices to housing societies, even outbidding the big guns in the industry. These shady builders are just fronts for some politicians who want to roll their black money in real estate. Housing societies should stay miles away from such builders, he warned.

Logix Group, has launched a new project – BlossomCounty, in Sector-137, Noida.

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The collective reviews and ratings from multiple users carry more weight than builder’s claims and help the potential buyers in selecting the right property.

Therefore, before you decide to buy this projects (only at http://www.indianpropertyreview.com/) property, Read Reviews and Ratings on this project at http://www.indianpropertyreview.com/

You can also find research reports on various which provide detailed analysis & information to help you take an informed decision.

Shikhar, has launched a new project – Pine Greens Apartments, Bhimtal (Nainital).

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The collective reviews and ratings from multiple users carry more weight than builder’s claims and help the potential buyers in selecting the right property.

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Spirit Infratech Pvt. Ltd., has launched a new project – Blessings, Amritsar.

Should you buy this property? Is this the right property for you?

The collective reviews and ratings from multiple users carry more weight than builder’s claims and help the potential buyers in selecting the right property.

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Khazanah Nasional Bhd, the government’s investment arm, is said to have bought ultra-luxury resort chain Amanresorts from India’s largest real estate company DLF.

The Economic Times of India reported that Khazanah may pay between US$300 million to US$350 million (RM981 million to RM1.14 billion) for the 97 per cent stake owned by DLF.

The remaining 3 per cent is owned by Indonesian hotelier and founder of Amanresorts, Adrian Zecha.

Adrian Zecha is also the founder of General Hotel Management (GHM), which in Malaysia manages The Datai in Langkawi and The Chedi chain elsewhere.

Khazanah in a statement issued to Bernama yesterday said that Khazanah and its related companies are in talks with various parties, including Amanresorts, on possible projects.

However, it added that an article in the press on “Khazanah to buy major stake in Amanresorts” was purely speculative and misleading. “Khazanah as a principle does not comment on speculation,” it said.

The press article, which quoted people familiar with the matter, said DLF is being advised by Goldman Sachs and JP Morgan. DLF’s spokesperson also said that it was not able to comment on market speculation.

In 2007, Khazanah entered into heads of agreement that included Amanresorts Ltd to develop an Amanresort in the Iskandar Development Region.

It was stated that the resort will be the first hotel that Amanresorts will be designing, building and operating in Malaysia and the property was expected to be completed some time in 2009. However, it is understood that the property is not ready.

Since then, talk has emerged that an Amanresort may be located in Desaru, Johor. Khazanah spokesperson Asuki declined to comment on this, stating that it was speculation.

According to Amanresorts’ website, it owns and manages 24 small luxury resorts worldwide. Its first flagship resort Amanpuri opened in Phuket in 1988.

Amanresorts has resorts in Bhutan, Cambodia, China, France, Indonesia, the Philippines and the US, to name a few.

It was reported that DLF in May had stated it is looking to sell Amanresorts to cut its debt. However, the report in India pointed out that Amanresort’s New Delhi property may not be part of the deal.

Analysis of the growth in real estate sector in last few years was performed. It revealed some very interesting statistics of the growth. The facts go like this:

In 2007, the office sector experienced highest demand. Grade A office space of about 32 million sq ft leased out in that year. But after that, it has been a decline throughout. In 2008, it reduced to 28 million and a further decrease to 21 million in 2009. However, now a growth back to 28-29 million is seen. Although it is less than what was in 2007, but still is complementary. This demand majorly comes from infrastructure companies, from Indian corporate who wish to merge, from pharmaceutical etc and it is at pace in Bangalore, Delhi and Mumbai.

After the office space, we move on to the residential sector, where once again these three cities are putting their landmarks. Even on the account of increasing prices, these cities have managed to go through a rise in demand. In cities like Mumbai where the pricing went through a downfall of around 25-30%, it has once again come back with the demand as well as pricing. However, the situation is not the same in the other regions of India as far as residential sector is concerned.

Next comes the retail sector. This sector has not seen much growth. Although the demand from some new Indian corporate, the existing retailers and many foreign retailers, this sector still seems to be gloomy for now.

It is never easy to find answers for the questions like how to buy a house, which option is best for me, or whom to rent my house, etc. Although these questions are important to one, but people forget the most basic question which is ‘when to buy?’.

Someone has rightly said “Never bite off more than how much you can chew”. One must always be realistic and look forward to a house according to his own budget.

The financial planners advice you to have a thumb rule that never go for a property for which the EMI loan amount exceeds 40% of your take home. You must be careful enough and make sure that the return on investment pitch given to you by the broker or the builder doesn’t fool you.

Next, the reverse mortgage schemes offered by the financial institutions can be of great use in the latter years of life if so required. At any point of time, one must not give a thought to how much money he can save in the long run if a house is purchased.

Another area which one must consider is that the decreasing interest rates and the increasing real estate rates are not always a nice combination. Thus, one must be careful enough while selecting his dream home.

Finally, especially for the individuals who are on the drive of establishing themselves, the financial advisers suggest not to have heavy loan burdens as it may hinder their growth.