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vprashantkumar
Member Since: 7/3/2008 4:13:54 AMLast Seen: 9/3/2008 2:33:56 AM
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Posted 9/3/2008 2:33:47 AM
Sushant Golf City, a mega township spread over 2000 acres expandable upto 6000 acres, shall truly lend Lucknow a whole new global character with its new age amenities and looks. The township offers an exclusive range of designer villas to choose from. This breathtaking range includes Olivewood Villa (Duplex), Oakwood Villa (Duplex) and Pinewood Villa (Simplex) among others. Another pride of this township is Celebrity Garden, a premium class high-rise complex offering apartments and luxurious penthouses at the most affordable price structure. Your home at Sushant Golf City is located close to a world-class golf course designed by the internationally renowned Dr. Martin Hawtree of UK. Then of course there is the Mahesh Bhupathi Tennis Academy to give your children champion tennis tips. The township shall also be Indian’s hub centre with some of the finest healthcare, education facilities, Ansal Plaza, state-of-the-art IT & Bio Tech Parks. Types of House Oakwood (Duplex) Pinewood (Simplex) Larchwood (Simplex) Olivewood (Diplex) Built-up Area (apprex.)In Sq. Mtr.* 106.28 122.00 130.00 214.00 Cost of Houses (Rs.) 18.62 Lacs 28.70 Lacs 32.90 Lacs 42.16 Lacs Initiol deposit (Rs.) 93,100 2,87,000 3,29,000 4,21,600
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Posted 9/3/2008 2:24:45 AM
The most stylishly built hi-rise Township at NH-24, Ghaziabad; Aquapolis is conveniently located from Delhi. The township is being created amidst sparkling water bodies and landscaped greenery. Come experience the enigma in a township created amongst cascading water bodies and lakes. The township is designed by the world renowned architect Chelsea West of New York. Each unit offers wide open living space, modular kitchen and balconies opening to breathtaking surroundings. The township integrates all amenities of modern living within its boundary walls including a club, jogging park, play school, shopping arcade, healthcare and more. Abundant water here can be seen not only in the form of lakes but also in form of swimming pools on the roof tops. Now that’s what we cal living in style. Fully furnished & unfurnished apartments shall be available soon, kindly contact us http://www.propertycafeteria.com.
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Posted 9/1/2008 5:25:36 AM
TATA Housing announces its first project in North India; in partnership with Raheja Developers. Raisina Residency is a premium and exclusive residential complex, located at the Golf Course Road Extension, inspired by the theme of art and culture. The master plan, landscaping and buildings have been designed by ‘AEDAS’, which is one of the top five architecture firms globally. The complex is a pre-certified Green Building under the guidance of IGBC (Indian Green Building Council) Courtesy: - ET Realty dtd:- 29th August 2008
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Posted 7/22/2008 4:20:58 AM
Parsvnath developers' ltd. has announced to construct "Knowledge City" in Haryana at Panchkula to be made ready based on publia & private partnership between entrepreneur Sabir Bhatia and Haryana Government, the name of this city will be "Parsvnath Nano City." Having 38% partnership in this 50,000 crore project, parsvnath will spend Rs 400 crores. Haryana Govt. will have 10% and sabir will have 52% partnership. This project will be completed within a period of ten years. The company will develop 5000 acres out of 11000 acres in the first phase
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Posted 7/22/2008 4:17:39 AM
Pushpanjali group has brought a residential project at birth place of Krishna in vrindaban in the name of "pushpanjali baikunth, six hundred luxury homes shall be constructed in it in an area of 110 acres. People would be able to live in luxury duplex villas alongwith all modern facilities of this project situated near the world famous iskon and bankey behari temple. Here meditation and yoga center, naturopathy, gaushala, gurukul, preaching/ satsang bhawan, musical fountain and nature’s best scenes such as peace giving thing to the heart shall be available. .
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Posted 7/19/2008 1:17:48 AM
G9 Ccolonizers and Developers Pvt Ltd is Rajasthan's fast emerging housing developer that everyone wants to be associated with. Considering the housing problems in Jaipur and Udaipur, G9 have started housing development plans in these cities. These projects have become the first choice for the people in "The Pink City" and "The City of Lakes". The project in Jaipur known as "Manokamna" aims in fulfilling the housing requirements and is getting more and more popular day after day among the people. Another project, "Manokamna Lake City" in Udaipur aims to provide similar requirements to the people there. Khetendra Sharma, one of the directors of G9, states that they have designed the projects in such a way that it meets the requirements of the upper and lower middle class families in Rajasthan. G9 provides low cost housing and helps out its buyers with easy installments or low EMI. Courtesy: TOI dtd:- July 11, 2008
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Posted 7/14/2008 3:50:37 AM
Spaze Palazo is ideally located on the 150 m peripheral road in Sector 69, Gurgaon. with a multi pronged approach, Spaze Palazo is accessible through the proposed metro rail corridor and from NH8 through a triple access on the proposed six lane Sohna Road highway and the new semi-circular peripheral link road emanating from the golf course and culminating at NH8.
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Posted 7/12/2008 3:37:46 AM
How to select or buy retail space in a mall? Ramesh Menon advises that while going in for small or big towns, one must ensure that the catchment area is good with high density of consumers having fairly good disposable income. "While selecting retail space one must keep in mind the convenience of end users. The retail space should be such located that it has good parking facilities besides easy access and exit from the main roads. There should be uncluttered and free movement of shoppers so that they can have hassle free and convenient shopping. Moreover one must ensure that the mall where the space is being taken belongs to a reputed developer and there is event-driven mall management to ensure high footfall" Shubrahnshu Pani Names five success factors for mall performance, including location, management tenant mix, pricing and marketing. Sanjay Sachdeva of APIL advises to invest in tier 2a& 3 cities for lower value and better ROI. Pani endorses his suggestion “These cities have flourishing catchment that has big potential and opportunities. In tier 2 & 3 cities, the loyalty factor is high while the rentals are low. The cost of setting up an enterprise is low and the high aspirations for brands from the metros can be cashed in upon. Sachdeva advises that it's always advantageous to invest in city center malls and within a mall it is high traffic areas near elevators escalators, multiplex, and food court that give guaranteed footfall. According to Sachdeva, there is an obvious advantage of buying space close to anchor tenant as anchor store has normally 20-year lease period with 10-year lock-in period and ensures good footfall. While deciding where to invest the tenant assumes great significance. According to Lakhotia quality of tenant determines the value of your property. If you have quality tenant, the value of your property will go up. Sachdeva adds that most of retail (0) Comments
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Posted 7/12/2008 3:32:55 AM
Many investors are in dilemma with regards to the timing of the purchase of retail space. There is an obvious choice between making investment at the time when the construction is yet to start and at the time when the mall is getting ready for completion. Subhash Lakhotia advocates that one should book the stall in an upcoming mall before the construction starts. Another investment mantra, according to Lakhotia is not to give the outlet on rent till the mall is complete. "This way one can get substantial return of 15-16 percent besides ensuring high capital appreciation. Pit falls Sanjay Sachdeva of APIL also advises to invest at the initial stage. "It makes a lot of sense as investor gets ROI as high as 11-12 percent and the value of property works out to be cheaper. But at the same time he cautions about the possible pitfalls. There are cases where mall developers start leasing out retail space to brands even before the constructions starts. The space is leased out on the basis of LOI and against one-month advance cheque. "And as the mall developers start high pitched marketing campaign, investors get taken in; little realizing that space is not leased out to brand which can withdraw any time. Moreover, since government clearances take long time malls generally overshoot their completion deadline. As such not only investor's money is blocked, there is even fear of brand shifting to other property. So the safeguard against these pitfalls is to select a mall developer with good reputation and track record of completing projects in time. Also ensure that retail space is leased out to a brand", advises Sachdeva. Menon further adds that for deciding entry strategy, one must take advice from professional real estate brokerage houses and consulting agencies with retail real estate and brand expertise. Future prospects What does future holds for retail real estate investors? Given a scenario of robust future supply in malls, would the rental yields manage to hold out? Shubrahnshu Pani is quite upbeat about the future of investing in malls. "Properly planned and executed properties will command premium prices in spite of market pressures. And as the retail boom is here to stay, investors can continue to capitalize on it in the coming years. Courtesy realty plus
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Posted 7/10/2008 3:46:53 AM
Realtor's Bid To Sidestep Proviso Snubbed India's largest real estate developer DLF has given a new definition to housing for economically weaker sections (EWS). A senior company executive recently proposed to urban development minister Jaipal Reddy—and was promptly snubbed—that servant quarters attached to high end apartments be counted as the developer's contribution towards EWS, according to a source in the government. As per the proposed guidelines, a developer must build at least 35% of dwelling units or 15% of permissible FAR (ratio of developable space to total area available for a project), whichever is higher, for EWS in all group housing projects in Delhi. As this would mean building cheap accommodation in posh colonies and losing out on revenue, DLF tried to float the 'servant quarter' proposal to get around this stipulation. The company has never been comfortable with the EWS quota. "It's not feasible to have high-end apartments and low-income group housing in the same compound. The owners of both types of houses will feel uncomfortable," a company official had earlier told ET. This mindset, however, runs counter to the government's efforts to ensure more dwelling space for members of economically weaker sections, who now find it impossible to buy a house in metros and suburbs. The realty boom of the past four years has seen housing prices climb three-fold in several markets. In just a year, DLF's net profit rose almost four times, from Rs.1, 934 crore to Rs.7, 856 crore in FY08. However, there has been little initiative by developers to cater to the needs of those who can't afford expensive houses. Private developers have mostly confined themselves to high-end apartments, which offer fat margins. Courtesy:- ET dtd:- 9th July 2008
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Posted 7/8/2008 1:19:04 AM
The Department of Telecom (DoT) will soon float a draft cabinet note for auctioning 773 acres in four cities which was once owned by VSNL. The Tatas took over VSNL in 2002 but the land was kept out of the deal and is still owned by the government and other shareholders. The sale of the land could now fetch the government between Rs.6, 000 and 10,000 crore. ET had reported in February 2008 about the Telecom Commission, the policy wing of the department of telecom (DoT), approving the government proposal to auction the surplus land. According to sources, the communications ministry aims to get cabinet clearance on this issue within the next three months and wants to have the auction by the year-end. Sources also added the same ministry was exploring the possibility of appointing an external agency to conduct the auction. The government will get 51.12% of the sale proceeds in line with the shareholding structure of the land bank. VSNL employees in form of Esops hold 1.85% while another 21% is with foreign companies (shares held by the Bank of New York as depository for ADRs). Other shareholders include foreign financial institutions (10.86%), Indian public financial institutions & mutual funds (7.9%), general public (4.92%) and other Indian corporates (3.09%). The Telecom Commission has said that the Tatas, too, were eligible to participate in the auction. Courtesy: - ET dtd: - July 5, 2008
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Posted 7/7/2008 4:47:01 AM
Real estate developers like Lodha, DLF, Unitech and Raheja have begun ramping up their presence in B-school campuses in the last two years in a move to have a more professional image. The move coincides with the growing interest of B-school graduates in the real estate sector. Says Prakash Saxena (name changed), a 2008 IIM-C student who works with a real estate developer, "What attracted me was the exposure I would get since there is a boom in real estate market. And if it doesn't work out then there is always a fall-back option." The real estate firms have sold promising careers to the students by offering competitive compensation packages. They usually hire students with prior work experience so that within two years they are ready to hold fairly senior posts. "Even with prior work experience I wasn't getting a job in the mid management at any other firm," says Atul Sharma (name changed) another IIM graduate. The compensation offered by these firms is upwards of Rs.12 lakh per annum. Lodha, one of the highest paying companies on campuses, made offers approximately in the range of Rs.16 lakh per annum. Apart from professionalising, these companies have felt a need to keep pace with growth and build organisational capabilities. Unitech has roped in McKinsey to conduct a study on the balanced ratio between professional and family work force. Says Unitech general manager for corporate planning R Nagaraju, "Although family continues to handle board level positions, senior strategic positions are being taken up by professionals. There is a higher level of delegation now at the professional level." Unitech hired around 15 students from IIMs & ISB this year. This number was similar to last year. Having had an experience with the Indian real estate majors, Bschools are now looking at luring foreign based real estate companies. Many are looking at Dubai and Singapore based real estate companies as potential recruiters. Some are already strengthening ties with existing players. Maytas Properties, for instance, will be visiting IIM Kozhikode soon to initiate campus relations. REALLY COOL Lodha, DLF, Unitech and Raheja have begun ramping up their presence in B-school campuses in the last two years They usually hire students with prior work experience so that within two years they are ready to hold fairly senior posts B-schools are looking at foreign based realty companies to make offers for more info login www.zameen-zaidad.com
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Posted 7/5/2008 5:06:24 AM
The country will require housing for 20.3 crore people by 2015 with an additional demand from 1.6 crore urban populace. However, realisation of this demand is closely related to GDP growth and interest rates. Hence, a 10% increase in the final expenditure in the construction sector increases GDP by 3%. Other risks to the home loan sector come from issues like a decrease in the loan to value ration (LTV), which is calculated by dividing the loan amount by the market value of the property. One finding indicates that a 10% decrease in the LTV raises the odds of default by 2.173%. These are some of the findings in a report by the National Institute of Bank Management (NIBM), an industry organisation, for the National Housing Bank (NHB). The survey is based on 14,000 housing loan accounts taken from across the country, allowing the NIBM to say, among other things, that they have devised a checklist for HFIs to use when disbursing instant loans to ensure lower chances of default. The central government is working on a Housing Start Up Index (HSUI), similar to the consumer price index, to project details of construction activity and its impact on prices of construction-related items like cement and steel. "We have studied the macro and micro level data, providing profiles of would-be borrowers, factors that influence house sizes, causes of default and suggested remedies. This has been possible since we have taken actual borrower account data from banks and housing finance companies," NIBM director Asish Saha said. In the context of loan default, the report notes that default is lower in cases where the house is larger in size, the monthly income is higher and the age of the borrower is lower. The survey has thrown up some unexpected insights. Default is also lower when banks or lending institutions see higher additional collateral. This has ramifications when cash transactions are involved, which is necessarily paid by the borrower and is not included in the sanctioned loan. This gives the lending institution a greater level of comfort since the borrower now has a higher exposure to that property. That greater financial involvement reduces the likelihood of default, hence offering greater comfort levels to the lending institution. "At the micro level, our findings show that a typical borrower is most likely to be a male of 40-50 years although 25% are below the age of 35 years. There is a falling trend in the average age profile, when it comes to housing demand," co-author and assistant professor, finance, Arindam Bandyopadhyay, noted. Courtesy:- ET dated:- 3rd July 2008
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Posted 7/4/2008 5:16:44 AM
After losing more than 71% of its market cap in the past six months, the country’s largest real estate developer, DLF, has announced a buyback of its shares. The company is likely to spend around Rs.500 core on the buyback which will result in around 1 crore shares (0.6% equity stake) being extinguished. “Our shares are trading at a huge discount to our NAV (net asset value – an indicator of a realty firm’s health). Today’s prices don’t reflect the internal strength of the company.” DLF CFO Ramesh Sanka told ET, adding the buyback is meant to “reward our investors”. He said the quantum and the price at which shares will be bought will be decided at the board meeting on July 10. A person close to the development, however, said the company was likely to mop up around 1 crore shares – equivalent to 0.6% stake – at an investment of around Rs.500 crore. The company is likely to buy shares over several months, stretching to a maximum of six monts, at market-determined prices. DLF’s proposed investment indicates the company is looking at an average acquisition price of Rs.500 per share, which is lower than the issue price of Rs.525. The promoter group holds 88.17% stake in DLF. As per sebi norms, promoter holding beyond 90% could trigger delisting proceedings. Therefore, the buyback option is limited to acquisition of around 3 crore shares, which will hike promoters’ stake to 90%. The DLF scrip has slid 71% from its January peak of Rs.1, 255 to reach an all-time low of Rs.350 On Wednesday. Following the buyback announcement, the share rose 14.7% to close at Rs.423 on NSE after touching an intraday high of Rs.439. Over 1 crore shares changed hands on Wednesday. Analysts feel DLF’s buyback plan will bring little relief to the flagging scrip. “We have already asked our clients to stay away from real estate. The buyback would be a good opportunity for investors to exit DLF.” Said Shailesh Kanani, a real estate analyst with Angel Broking, adding that share prices will fall again as soon as the buyback offer is over. Companies mostly use surplus cash reserves to buyback shares to shrink capital base and enhance earnings per share. But in the case of DLF, as also in the case of a few other Indian companies earlier, a buyback is being affected to put up a brave front before investors, which may not necessarily work. The global credit crisis and rising interest rates in the country have made borrowings expensive for realty firms and DLF, like its peers, is facing a major cash crunch. It had to reverse the sale of its office property to the promoter group company DAL, in March quarter after being unable to find investors for DAL. In such a situation, DLF’s Rs.500-crore investment for share buyback will only put extra burden on the company’s balance sheet. The global turmoil and domestic inflation has hit real estate firms with several realty stocks being hammered out of shape. Unitech has lost 75% while Parsvnath and Omaxe have lid over 80% each. Given the changed economic scenario, most brokerage firms have been revising downwards the NAV as well as target price of real estate firms. Courtesy: - THE ECONOMIC TIMES dt.3rd July 2008
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Posted 7/3/2008 4:16:21 AM
US Antil: Kindly clarify the limit of deduction/rebate available under Income Tax Act in following cases: Interest on housing loan under section 24(6) – Can both husband and wife claim the deduction of interest upto Rs. 1,50,000 on housing loan in joint ownership? Can husband claim the deduction of interest upto Rs.1, 50,000 housing loan in case of wife’s ownership whereas both are in service and loan is taken jointly? Payment of rent under section 10(13A) – Whether dearness pay is also to be taken into consideration in addition to basic pay while claiming the exemption of HRA in the following cases: a. Where fixed HRA is received according to slabs of basic pay (Haryana Government employees). b. Where HRA is received according to the percentage of basic pay & dearness pay (Central Government employees). In the case of joint ownership of a flat, where the housing loan is borrowed jointly, the deduction under section 24(6) in respect of interest on housing loan will be allowed to both the co-owners, if the total interest paid on housing loan for a year is more than Rs.3 lakh, each of the co-owners will be entitled to claim deduction upto Rs. 1, 50,000 on account of such interest. As per Rule 2A of the Income Tax Rules, for the purpose of computation of deduction under section 10(13A) in respect of house rent allowance, the salary includes basic pay as well as dearness allowance if the terms of employment so provide. Courtesy: - Hindustan Times – 2 July 2
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