Hindustan Construction Company (HCC) which is country’s leading construction firm has declared that it will soon strip its stake. The firm revealed the fact that it will divest its major proportion of investment, i.e. 74% of its stake in various other projects.

At present, the firm’s focus is the project called ‘247Park’. This project lies in Mumbai and this project is expected to work as a milestone for the company’s business destination. IL&FS Milestone Fund are the ones from which firm has striped stake.

The ‘247Park’ will be the hugest standalone LEED Gold certified green building in India. The total estimated value of this Park is Rs. 775 cr. The project is spread over an area of 1.8 million square feet. While Vikhroli seems to acquire a good position in the ranking of business corridors in Mumbai, this ‘247Park’ is located at the heart of Vikhroli. This project was completed in March, 2010 and in just a couple of months, its more than 85% of space has already been leased.

According to Mr. Rajgopal Nogja who is the President of HCC Real Estate Ltd., HCC has finished the project in time without compromising on the high standards of the project.

The textile capital of India Sholapur has a reason to rejoice. Sunil Mantri Group, a leading real estate development company with pan-India presence in association with Kumar Yashraj Group, a leading Sholapur-based developer, has announced its new project “The Square” with an aim to set new bench marks in the western zone.

The project will incorporate top of the line amenities, security and design aspects and is the first of its type in Sholapur that will encompass residential, commercial and retail real estate segments creating a unique neighborhood in the center of the city where residents of the city can relax, shop, and enjoy fine dining in a modern setting. The Square will be spread across 27,000 sq. meters.

The Square, a juxtaposition of Residential & Retail, constitutes flats of 2 , 2.5 and 3 bedroom configuration and more than 180 shops, a major anchor retail outlet, and a hyper mart on a total area of 2,81,000 sq feet. Situated on the main road, it gives easy accessibility, luring consumers to the premises. The Square also introduces a modern food court with fine dine facilities and a shopping arcade for a totally relaxing environment to chill out in.

Mr. Sunil Mantri, Chairman, Sunil Mantri Group said on the occasion, “Tier II and Tier III cities in India have tremendous potential. We see great opportunity in smaller cities and we are confident about the success of our Sholapur project. At The Square, we look forward to making available premium lifestyle offerings in southern Maharashtra. Our experience has lead to a greater understanding of the demands of ultra-modern living and we are committed towards creating landmarks of exemplary design, comfort and quality that benchmark the highest standards of urban living.”

The plush arrangements for the club house and modern gymnasium, box cricket, children’s play area, swimming pool and landscape grounds studded across The Square creates a self-contained world of extravagance and indulgence for all its residents and offers them all the amenities and facilities of modern living within its premises.

The Square promises to be a combination wherein nature and urban living co-exist with modern and premium amenities in the center of the city.

The 13th India Realty Expo 2010 organized by the Maharashtra Chamber of Housing Industry (MCHI) in Dubai was a great success. The exhibition held from June 3, 2010 to June 5, 2010 saw a presence of total 2847 NRI’s. The event’s success can be contributed to the fact that the exhibitors were offering ready properties or possessions between 3-6 months.

The Exhibition was inaugurated by his Excellency Mr. Naresh Mehta, Consul Commerce of India, Consulate General of India, Dubai-U.A.E on June 3, 2010.

Eighteen leading developers and builders from India including Acme Housing (India) Pvt Ltd., Akar Creations Pvt ltd., Ashiana, Delta Group, Everest Developers, Godrej Properties Ltd, Hiranandani Constructions Pvt Ltd, Kolte-Patil Developers Ltd, Marvel Realtors, Nahar Group, Nirmal Lifestyle, Nyati Group, Our Town, Pathy Housing, Prathmesh Construction Pvt Ltd, Runwal Group, Rustomjee, Uma Constructions- represented by United 4 realtors participated in the exhibition.

Mr. Sunit Mantra, President MCHI said on the occasion, “Looking at the factors such as attractive prices of Indian Real Estate as compared to Dubai coupled with a lackluster trend in local markets there, turned out a bonanza for the Indian realtors exhibiting their properties in the Dubai exhibition with investors and genuine buyers visiting in large number this year.”

The Hon. Secretary, MCHI, Mr. Deepak Goradia said, “We have seen tremendous response and turnout for the exhibition this time. Projects in Andheri, Powai, Navi Mumbai, Kandivali, Borivali, Bandra, Ghatkopar, Thane from Mumbai and other cities such as Bangalore, Goa and Pune received a lot of enquires for residential flats. Quality of visitors was good and mostly they were affluent, focused and high end consumers. Moreover visitors showed interest in 2/3 BHK flats ranging from 60 lacs to 1 cr.”

This was the 9th year of the India Realty Expo in Dubai which provides a one stop solution to all the needs of NRIs intending to purchase properties in India.

The Indian Real Estate Industry has only reasons to cheer.

Bangaluru has over the years gained immense popularity as the hub for IT industries in India. With great opportunities like world class education, working environment, living standards it is not wrong to mention it as the “The Silicon Valley of India”.

Many non-Bangaloreans now call the city their home. It is interesting to note that over 10,000 dollar millionaires and about 60,000 super rich people are currently living in the city with huge investments to make. All these have made Bangalore a hot spot for Real Estate Market, both Residential and Commercial.

Residential market has seen some significant action with many developers like Prestige and Sunil Mantri, Sobha, rolling out new projects in micro market segment. Some of the key areas in Bangalore, where the residential demand has picked up, are Sarjapur Road and Whitefield, Doddakanenahalli and, Jayanagar.

The supply is growing in line with the revived commercial real estate demand. Latest report from Cushman & Wakefield implores that the total projected supply for the current year is 12.42 million square feet of office space, more than twice the supply delivered in the year 2009.

Indian Market Research Bureau (IMRB) conducted a survey among 5 cities, amongst individuals aged between 25-39 yrs, stated that Mumbai and Bangalore are the most preferred places to live as the cities provide the best quality of life as well as the most courteous people. Bangalore is also identified as a city which is in the process of development on multiple counters – numerous projects have been initiated in areas of Infrastructure, Power, Water, and Sanitation.

All this indicates that this will be a good investment destination, hence attracting FDIs and NRIs fund flows as time goes.

The Southern Province of India has shown a demand in Real Estate properties over the last few months which is a good news for the people in the realty.

The Realty sector in Hyderabad, Andhra Pradesh has shown sudden upsurge after the recent political turmoil it went through. The demand for both, commercial as well as residential properties have registered a rise.

The trend is more evident in Tier I and tier II areas specifically; making them a high demand market.

Even the prices of the realty sector have improved as the customers feel Hyderabad is the right place for investment which has contributed to increase in the sales.

Raj Kumar, Marketing Manager in a Real Estate firm puts forth, “NRIs, Doctors and Information Technology (IT) people are coming forward for the investment and even some of the central government employees are also coming forward. As you know, now a days comparing with the facilities what we are giving on what rates we are giving, people are seeing benefits and on this basis they are coming forward for investments and showing interest.”

The sector is one of the biggest in terms of number of employees working in the country. It is anticipated that in the next decade the realty sector will grow at a rate of 30% every year. This is bound to attract foreign investors with as many as 30 bn US dollars along with a number of IT parks as well as residential townships being constructed across our country.

Real Estate Investors have one more city to eye for.

Hyderabad

Home loan is a good debt. But delay in getting the loan could prove costly. The crucial phase in buying a home is the stage where you have already made your contribution for the purchase from your savings and commit to pay the rest within a specified period. Most buyers commit to bring in the money within a few weeks as they expect to raise the loan within the period.

The risk increases if you have already sold your flat and have committed to vacate it within a few weeks. You can reduce your risk by getting your loan pre-approved by submitting your income documents. However, the pre-approval does not guarantee disbursal which hinges on a number of other requirements.

Here is the low down on what problems could arise and how to overcome these obstacles:

INSUFFICIENT INCOME
This could be a ground for rejection at the entry stage itself. If the lending institution feels that you do not meet its eligibility criterion in terms of minimum desired income level, you could be refused a home loan. Unstable or irregular income streams, too, could be a reason for the denial.

Solution: To tide over this problem, you could get your spouse (provided he / she has an income stream to show) to submit the application as the joint borrower. The chances of your loan being sanctioned will go up, along with the amount you are eligible for, as the combined higher income is a source of comfort for the lender. Moreover, both borrowers are entitled to tax deductions on repayment of home loan principal (up to Rs. 1 lakh) and interest paid (up to Rs. 1.5 lakh) under section 80 C and sector 24, respectively.

BAD CREDIT REPORT
As part of the standard loan processing, banks and housing finance companies study the loan-seeker’s credit history records maintained by credit information companies like Credit Information Bureau (India) (CIBIL). If they feel that your credit repayment track record has not been clean, your application could be put in cold storage. This is also the case with those who are paying monthly instalments on other loans.

Solution: Get a copy of your credit information report from Credit Information Bureau (India) Ltd (CIBIL) before applying for a home loan. If the details of any loan repaid in the past are not reflecting in your credit report — that is, if it continues to reflect pending dues — you can take up the matter with the lending bank concerned and resolve the issue before submitting the home loan application, to ensure hassle-free loan disbursal.

MULTIPLE LOANS
If you are already servicing loans, it could dent your perceived repayment capacity. If your assessed repayment capacity falls short of the lending institution’s criterion, you could be in for a disappointment.

Solution: Use your liquidity to extinguish personal loans even if this means having to take a home loan. A home loan is a ‘good debt’ since it is cheapest loans, it gets you tax breaks and helps create a life-long asset.

INCOMPLETE DOCUMENTATION
Loan disbursals are often delayed because of the borrowers’ inability to provide documents related to the property or those relating to his income.

Solution: Before you finalise the deal identify someone who has already availed a loan in the same building from the institution that you plan to borrow from. Also check for pending dues to the society. “Simply put, the application could be rejected in the absence of any document that proves clear title to the property. It can also be rejected if the necessary approvals for constructing the property are not in place,” says Subodh Salunke, general manager – operations, HDFC Ltd, Mumbai region. Also, if you are self employed, IT returns showing adequate income is crucial and the absence of tax document is often a cause for rejection.

UNKNOWN BUILDER
Banks are wary of giving loans to builders who have no track record and may reduce loan eligibility.

Solution: Before concluding the deal check with lenders whether there are any legal disputes pending against the builder. “There have been cases where the developer has sold one flat to 2-3 people. Once the bank comes across such fraudulent cases, the loan will not be sanctioned,” says VN Kulkarni, chief counsellor with the Bank of India-backed Abhay Credit Counselling Centre. It is best to stick to builders of repute and good track record.

GROUND RULES

Before applying for a home loan, study the list of documents required by the lending institution thoroughly, as a failure to submit all the documents in the prescribed format could lead to the application being rejected.
If you do not fit into the bank / HFCs desired customer profile in terms of the minimum income level, you should put in a joint application, with your spouse as the co-borrower to meet the eligibility criterion.
Procuring a copy of your credit report from CIBIL prior to submitting a loan request will help you get a clear picture about your credit history and its likely perception by the lending bank. It also provides you an opportunity to get your previous lender to rectify errors, if any, in the report.
If your portfolio comprises multiple loans, it could affect your repayment capacity, and thus chances of getting your home loan sanc-tioned.
Buying a flat in a project being developed by a builder with doubtful credentials could result in the bank denying the loan and / or lower the loan amount you are eligible for.

The government has permitted industrial units to move from one special economic zones (SEZ) to another after approval of the apex authority, the board of approval (BOA).

The approval to transfer units will be given on a caseto-case basis by the BOA. The board, chaired by commerce secretary, clears SEZ proposals and frames rules guiding these zones.

Permission to relocate could easily be granted to units that are yet to start their operations or units that have started sourcing inputs but not started production. BOA may take a cautious approach in cases where production and exports have started. Where production and sale of goods have started in a unit, one has to consider provisions for income tax exemptions for migration of goods.

The BoA, therefore, decided that permission would be given to units seeking transfer on a case to case basis.

Allowing SEZ units to shift base could help in business consolidation as companies with several units in different SEZs would have the option of bringing them under one roof. It would also help if for reasons of geographical proximity to a source of input or to a market, a unit owner wants to move to another SEZ.

Mumbai-based real estate developer; Usha Breco Realty Limited launched its first affordable housing project ‘Chhaya Niwas’ at Boisar near Mumbai.

For the first phase of the project, the company will be developing 300 units in 1, 1½, 2 & 2½ BHK formats. The homes will be competitively priced within a price range of Rs9-Lakh to Rs20-Lakh.

Uday Dharmadhikari, CEO, Usha Breco Realty Limited said, “Chhaya Niwas is an exclusive value housing project that will help bridge the gap between the supply and demand for affordable and qualitative housing in the Mumbai Metropolitan Region.

Chhaya Niwas will offer its customers amenities like a children’s play area, free parking space, jogging track, gymnasium & club house. In addition the project will house eco-friendly and energy efficient features like a Sewage Treatment Plant, Vermi-culture, Organized Garbage Disposal, Simplistic Service Systems, Maintenance Free Equipments and much more. As a part of the commercial offerings the complex will provide grocery outlets, a nursery school, banquet / party hall and a dispensary.

Usha Breco Realty had recently announced its strategic partnership with Premath & Associates as architects and New Consolidated Construction Company Ltd as construction partners for the Chhaya Niwas project.

The Maharashtra government may have to scrap its plan to set up helipads on the rooftop of buildings in Mumbai. The Union ministry of environment and forests (MoEF), in an affidavit, told the Bombay high court that it does not support new helipads in Mumbai.

The MoEF is of the view that while the noise rules do not specifically debar private helipads, in view of the high ambient noise levels in Mumbai in general both during day and night, such new helipads are avoidable.

The affidavit was filed in response to a PIL filed by the city-based Awaaz Foundation, which had contended that the proposal for helipads would result in noise pollution.

The Maharashtra Pollution Control Board (MPCB) had conducted tests and found that the sound of helicopters taking off and landing was 100-120 dB. This was double the norms for residential areas and silence zone areas of between 45 decibels and 55 decibels.

The state has plans to set up at least 12 helipads across the city. It had issued a directive to the BMC to amend its construction rules to allow new residential and commercial buildings to have helipads on their rooftops or on open spaces.

Number of flat purchasers in the suburbs who had booked apartments, which were granted .33 additional FSI, are in soup since the Bombay high court has ruled that these constructions are illegal. The state government and the BMC are also in trouble since together, they have collected about Rs1,000-crore from the builders towards the .33 FSI and this money now has to be returned.

A senior engineer of the building proposals department of the BMC said, “Many builders had constructed buildings assuming that the court would endorse the urban development department’s decision to grant .33 additional FSI in the suburbs. They were planning to get the area built by them beyond the commencement certificate (CC) regularised against the .33 FSI at a later stage. But the HC order has put paid to their plans.’’

The CC specifies the area that can be built-up. Several lakh sq ft of built-up area has been built by builders in the hope of the .33 FSI being upheld by the HC.

President of the Maharashtra Chamber of Housing Industry Sunil Mantri said the builders concerned now have no option but to buy TDR from the market and regularise what has now become illegal portions of their buildings. Efforts are now being made to persuade the state government to bring about a legislation during the monsoon session of the legislature to amend the Maharashtra Regional Town Planning Act to provide for the sale of FSI by the state government by charging a premium.

Ansal Housing & Construction Ltd., has launched a new project – Ansals Corporate Suites, in Ghaziabad.

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.

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.

Unitech Studio, has launched a new project – Grande, in Sector 96,97 & 98, Noida.

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.

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.

SS Group, has launched a new project – The Hibiscus, in Gurgaon.

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.

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.

K.M.Group, has launched a new project – K.M.Trade Tower, Ghaziabad.

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.

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.

Panchsheel Buildtech (P) Ltd., has launched a new project – Panchsheel Greens, in Noida Extn.

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.

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.

Arihant Infra Realtors Pvt. Ltd., has launched a new project – Arihant Arden, in GH-07 Sec.-1, Noida Extn., Gr. Noida.

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.

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.

HUDA has finally declared Faridabad Sector 56 results.

As HUDA site takes few pages to take you to the result therefore here is the direct link to check the results.

Team IPR

HUDA has declared results for its plots scheme for Palwal.

As HUDA website is down, so here is the direct link to check your results

Team IPR

Prateek Realtors India Pvt. Ltd., has launched a new project- Prateek Wisteria, Noida, Sec – 77.

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.

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.

Extocia Housing & Infrastructure Co. Pvt. Ltd., has launched a new project- Exotica Dreamville, Noida Extn, Sec.16C.

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.

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.