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Showing posts with label 4 bedroom flat in dwarka delhi. Show all posts
Showing posts with label 4 bedroom flat in dwarka delhi. Show all posts

Thursday, 17 December 2015

99acres tops real estate site hits

99acres.com, a property portal, announced on Thursday that it had maintained its position as the top website in the online real estate category in terms of traffic share, as per comScore.

Traffic share is calculated either on the time spent per unique visitor or webpages viewed per unique visitor. The company clocked a traffic share of more than 42% and 45% respectively.

"The comScore numbers are a testimony of our intent of providing seamless, quick, and high quality experience for our users. We will continue to innovate and offer cutting edge solutions to improve user experience in the future as well," said Sumeet Singh, Executive VP Marketing & Corporate Communications, Info Edge India.

Bengaluru, not Mumbai is preferred real estate

Bengaluru has overtaken Mumbai as the most preferred real estate investment destination in India, according to an report jointly published by the Urban Land Institute (ULI) and PricewaterhouseCoopers (PwC). The report titled ‘Emerging trends in real estate Asia Pacific 2016’ said Bengaluru is emerging as the real estate capital of India.

The report is based on the opinions of more than 400 internationally renowned real estate professionals including investors, developers, property company representatives, lenders, brokers and consultants.

“If someone has Rs 10,000 with him, he would rather put his money in Bengaluru than in Mumbai because you get more affordable apartments at that price in Bengaluru. Also, the investor is confident of the price appreciation in Bengaluru due to the absence of speculation,” Bhairav Dalal, partner, Tax and Regulatory Services, said.

He also said the e-commerce and startup boom in Bengaluru is driving office space absorption, which in turn is resulting in residential demand as well.

Interestingly, the survey also quoted a local consultant as saying: “What we’ve seen for the first time during the last 12 months is that firms that were originally based out of Delhi, Pune or Mumbai, grew to a $ 600-700 million valuation and were in the race for a $ 1 billion valuation have been pushed by their venture capital backers to relocate to Bengaluru, because that’s where you find the critical mass to be able to ramp up your business”.

Monday, 14 December 2015

5 positives for the realty market today

Chain reaction: The recent flurry of real estate activity in Mumbai could bring some cheer to the Delhi-NCR market but much of the supply is likely to be in the affordable housing segment
UP gets ready for affordable: The state government has launched the Samajwadi Awas Yojna scheme under which it hopes to develop about three lakh units. On offer are development and land use conversion charge waivers for the developer and no stamp duty for the buyer
Haryana takes the lead: Haryana’s affordable housing policy seeks to provide 1.25 lakh units. Builders taking up state housing projects are to be exempted from licence fees and infrastructure development charges

Current unsold inventory: The unsold inventory (in various of stages of construction) for the NCR and MMR at the end of September 2015 is 1,98,000 and 1,85,000 respectively, according to estimates by Knight Frank

At close to Rs 53,000 cr, investments into real estate set to touch 7-year high

Investments into the real estate sector in 2015, at close to $8 billion or Rs 53,000 crore, are poised for a seven-year high. Much of this has come in via the private equity (PE) route and borrowings through non-convertible debentures (NCD).

The size of the inflows might seem surprising given the sector is not particularly in good shape. The residential space, in particular, has been under pressure though the commercial property piece has done reasonably well. However, less than a fifth of the PE funds raised has found its way into commercial real estate; the bulk flowing into residential ventures allowing prices to remain firm. Indeed, if developers have not dropped prices, it’s thanks to investors backing them.

Cushman and Wakefield estimates around $2.8 billion or Rs 18,700 crore had been invested by private equity players in the real estate market till end September. Add to that an estimated $4.5 billion, or Rs 30,500 crore, of NCDs — till November 2015 — and the tally is already up by 74% over last year’s Rs 17,600 crore.

Saturday, 12 December 2015

How Startups Are Making Real Estate Businesses More Efficient

Advances in information technology have generated enormous efficiencies in many industries, including manufacturing, transportation, communications, entertainment, retail and financial services. Yet in real estate, the largest industry of them all, innovation has lagged as agents and brokers have been slow to adopt new technologies.

This is because real estate is often considered a relationship business. Indeed, the markets for commercial, multifamily and residential real estate could not function without networks of human professionals who have built trust working with each other over many years.

However, real estate also is an information business, where transactions depend on the steady flow of data between buyers and sellers, and brokerages with the best data ultimately make the most money.

There is no good reason for real estate businesses to operate without the benefits of faster and more accurate data, or the efficiencies afforded by workflow automation and online collaboration.

Fortunately, things are changing. On the consumer-facing side of the business, companies like Zillow, Trulia, HomeAway and Rent.com launched as startups in the early 2000s to provide online access to home and apartment information.

Meanwhile in the B2B arena, legacy software companies such as CoStar, Yardi and RealPage have updated their platforms to be more feature-rich and user-friendly, and startups like LoopNet (now part of CoStar) have democratized commercial real estate information by providing online access to buyers and sellers of commercial real estate nationwide.

Revised real estate bill can boost buyer confidence, help with faster grievance redressal

Over the last one decade when real estate markets in India saw a dramatic rise, home buyers were mostly at the receiving end. Lately, the biggest issue facing buyers is delays in completion of projects and in some cases builders cheating them of their life savings.

In its new avatar, the real estate regulatory bill will help change the current sentiment among home buyers, boosting confidence among them, say property market experts.

The Union cabinet on Wednesday approved 20 ma .. 

Govt to make fresh bid for passage of GST, real estate bills

Government will make a fresh bid to pass crucial bills on GST and real estate in the last week of the Winter session amid signs of some thaw with Congress on the key economic reform measure.
The legislative and financial business proposed next week includes a discussion on the issue of price rise in both Houses with emphasis in Rajya Sabha on rising price of essential commodities, including foodgrains in the country.
A discussion is also likely on the issue of “growing intolerance endangering the unity and diversity of the country”.
While six bills each have been passed and introduced in Lok Sabha, the Rajya Sabha has passed only one bill.
10 Bills passed by Lok Sabha are still to be taken up in Rajya Sabha. In the Lok Sabha, government has proposed to take up nine items of legislative and financial business during next week, a statement by parliamentary affairs ministry said.
Of these, time has been allotted for seven items. A heavy agenda of 16 items is due to be taken up in Rajya Sabha which lagged behind Lok Sabha in transaction of business this week due to disruptions and forced adjournments.
Four hours have been allotted for the passage of the GST bill, three hours for real estate bill and two hours for anti-graft measure, the whistleblower bill.
Prospects of a forward movement on GST appeared in sight on Friday with the government giving some proposals to the Congress and expecting a response by Monday when Parliament meets again with just few working days left for the Winter Session to conclude.

Real Estate Bill offers a glimmer of hope for builders but it's indeed a buyers' market

The real estate stalemate that has been going on for long will perhaps clear off quickly much to the relief of the industry people as the Union Cabinet has given its green signal to the Real Estate (Regulation and Development) Bill, 2015.
A key stipulation of the Bill, to ensure timely execution of projects, will go a long way in safeguarding the interest of consumers, and in the long run, keep the real estate markets brimming with active demand.
Mumbai real estate gains in momentum. AFPAFP
Of late, the market has been dull, lacking velocity in sales and an umpteen number of projects failing to meet deadlines. The developers have been crying about procedural delays as the major factor affecting the project execution timings.
To put it bluntly, the real estate market has been stagnant. The National Capital Region (NCR) alone has a number of stalled projects because of slow demand and certain economic factors. A Knight Frank report states there are more than 6 lakh unsold units in the country, and at the current absorption rate, it will take more than 2 years to clear even if no projects are launched.
There are reports, however, of some progress. For example, residential sales in Mumbai have climbed up. Ramesh Nair, COO & International Director, JLL India says, “The aggregate of residential unit sale in Mumbai in previous four quarters has jumped up 28% when compared to the corresponding period one year ago.”
In other regions however, sales have been sluggish across the country. According to Surajit Chanda, regional head, Sobha Ltd. (Pune), sales velocity has slowed down in the city. “The market is going through stress. And buyers are taking more time to buy. Primary demand is between 30-70 lakh segment all across the country. In the premium segment, say 1 cr and above, there is certain movement, but not as is expected,” lamented Chanda.
Pinning down one of the causes of the real estate distress, Chanda remarked, “Developers have over leveraged themselves. They picked up more than they can chew.”

Friday, 11 December 2015

Revised real estate bill can boost buyer confidence, help with faster grievance redressal

Over the last one decade when real estate markets in India saw a dramatic rise, home buyers were mostly at the receiving end. Lately, the biggest issue facing buyers is delays in completion of projects and in some cases builders cheating them of their life savings.

In its new avatar, the real estate regulatory bill will help change the current sentiment among home buyers, boosting confidence among them, say property market experts.

The Union cabinet on Wednesday approved 20 ma .. 

Wednesday, 9 December 2015

Dubai Real Estate Developer Says It’s Standing By Trump

A Dubai real estate developer that is building luxury villas and golf courses in partnership with Donald Trump is standing by the billionaire presidential candidate, saying his proposal to ban Muslims from entering the U.S. will not get in the way of their business projects.

Damac Properties is partnering with Trump because his organization is “one of the premium golf course operators in the world,” said vice president Niall McLoughlin in a statement. “As such we would not comment further on Mr. Trump’s personal or political agenda, nor comment on the internal American political debate scene.”

Damac is building the Trump International Golf Club as part of a mega-development on the outskirts of Dubai. The 42 million square feet Akoya district will also feature a cluster of Trump-branded villas alongside other high-end real estate.

The project is, in many ways, Peak Trump. In its Bugatti-branded villas, owners will be able to park their supercars in glass-enclosed spaces in the living room. “Cherish your car even when you’re not driving it,” read the ads. “Your guests can sit back and admire the unique centrepiece to your home.” Those who buy a Trump-branded mansion get their very own Trump Card, which “opens doors to a host of privileges.”

But Trump’s brand, in America and abroad, has taken heavy hits as his presidential campaign embraces bigotry and xenophobia.

Sultan al-Qassemi, a Dubai-based social commentator, said that while companies like Damac are likely bound by contracts that would be difficult and expensive to cancel, “they’re certainly uncomfortable” about Trump’s comments. As for potential Trump villa buyers in Dubai, “I wonder how many will feel comfortable enough to live in a community that bears his name,” he told the BBC World Service.

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Four Seasons Los Angeles creates edible real estate for children’s cause

Four Seasons Hotel Los Angeles at Beverly Hills, CA is letting consumers take a bite out of its property with help from “Million Dollar Listing” star Josh Flagg.

The hotel’s executive pastry chef Federico Fernandez has created a chocolate replica of the property, along with 20 gingerbread mansions, with all of the edible real estate being sold to benefit Toys for Tots Foundation. The whimsical nature of this charity campaign will help remind participants of the cause they are supporting, perhaps stirring memories of their own childhoods.

Now taking bookings
The chocolate hotel and gingerbread mansions took weeks to create. The property recreation is complete with the hotel’s pool and miniature guest vehicles waiting outside the lobby.

Rooms can be “reserved” for $550, while the mansions are on the market for $5,000 per house. Interested consumers can coordinate a property sale through the front desk of the hotel.

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'360 Realtors' awarded for best real estate consultant of the year

360 Realtors was awarded the 'Best Real Estate Consultant' of the year 2015 by the Indian Realty Awards (IRA). The event is a Make in India Conclave and Glittering Award Ceremony organised by the IRA to recognize the notable projects that have created benchmarks round the year. It is a platform that provides year-round access to the best development projects, industry expert led conferences and engaging, interactive networking events.

This year, IRA has acknowledged the achievements of 360 Realtors.

"We are honoured to receive these prestigious awards from the Indian Realty Awards. They work together throughout the entire year to build quality luxury homes while providing each and every homeowner with our 5-Star customer service," said Ankit Kansal, MD, 360 Realtors.

"Thery also said that it was hard work, and they don't take short cuts. Winning the Best Real Estate Consultant of the year in 2015 reaffirms that they are heading in the right direction and their hard work is not going unnoticed. I couldn't be more proud of them," Kansal added.

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After Cars, Quikr Promotes Its Real-Estate Vertical ‘Quikr Homes’

Classifieds, a newspaper segment that is either the most read one or the most abandoned one for select Indian households; read by the needy ones and ignored by rest of the population.

The sector underwent a complete make-over ever since classifieds went online. Reports suggest that between 2002 to 2012 newspaper classified ads went down to 71%, thanks to the Internet. Now another report says that the online classifieds industry, which was worth Rs 1,800 crore in 2013, is expected to go up to Rs 4,500 crore by 2018.

No doubt the online classifieds have grown, not just in figures, but otherwise also. Now classifieds are more customer-centric - they think of your ease; accessible - just a touch away and of course divided in various platforms - verticalized.

Quikr, one of the top industry players and also the architect of verticalization, which had popularized its 'Quikr cars' lately, is now taking up another vertical, 'Quikr Homes'. With the launch of two TVCs, conceptualized by Interface Communications, Quikr has entered into real-estate market.

The smart money is getting out of real estate

Real estate investing is all about timing, and Sam Zell knows this better than anyone.

He sold his real estate firm, Equity Office, to Blackstone Group for $39 billion near the peak of the market. This was back in February 2007—only months before real estate credit markets started to spiral out of control.

He’s doing it again.

At the end of October, his real estate fund, Equity Residential, agreed to sell more than 23,000 apartment units to Starwood Capital for $5.4 billion. The sale represents over 20 percent of the Equity Residential portfolio.

The fund plans to sell another 4,700 apartment units in the near future. Most of the proceeds will be returned to investors in the form of a dividend sometime next year.

Another real estate fund managed by Zell, Equity Commonwealth, has sold 82 office properties worth $1.7 billion since February. The fund plans to raise another $1.3 billion by selling off more properties over the next few years.


Tuesday, 8 December 2015

PE funds, NBFCs join hands for big-ticket real estate deals

Private equity (PE) funds and non-banking financial companies (NBFCs) are joining hands to invest in real estate projects to hedge risk in a sluggish market and undertake big-ticket transactions.

Consortium lending, where two or more investors back a realty project or a company, is the outcome of debt or equity syndication in a sector where often a single lender or investor is unable to invest large amounts or wants to distribute risk.

Over the past two years, the realty sector has seen its worst ever slowdown, but this has not deterred PE funds and NBFCs from backing developers in need of finance.

In fact, a lot of capital is chasing a handful of good deals, leading to stiff competition among investors and more vistas for collaboration.

This year has seen quite a few such deals and sector experts say this is just the beginning.

In October, Piramal Fund Management Pvt. Ltd and Altico Capital India Pvt. Ltd co-invested Rs.720 crore in multiple projects of Century Real Estate Holdings Pvt. Ltd in Bengaluru, in one of the largest structured debt transactions.

In another instance, the Shapoorji Pallonji Group partnered with Standard Chartered Private Equity, International Finance Corporation (IFC) and the Asian Development Bank (ADB) in August to build 20,000 affordable homes across the country. The partnership will invest about $200 million in the project.

Lead investor Standard Chartered, along with IFC and ADB, will invest 70% of the $200 million, and the rest will come from Shapoorji Pallonji.

There are a number of smaller transactions adopting the collaboration route as well.

“In the long run, collaboration among investors will be more pronounced in large-ticket lending or private equity deals. It will be driven mostly by the investors’ need to manage concentration risk. There will be a separate breed of lead investors who will be in the forefront of this, who will originate, negotiate, structure large-ticket investments, underwrite all or a substantial part of these, and bring LPs (limited partners) or co-investors to subscribe to part of the investment,” said Ashish Singh, India managing director, real estate private equity, Standard Chartered.


Saturday, 5 December 2015

Real estate transactions, Dec. 6, 2015

Following are seller, buyer, property description and price of property. Note: price is an estimate based on revenue stamps that are bought from the county.

Rock Island County warranty deeds

Freeman, Carl Jr., Silvis, to Erickson, Robert D., East Moline; 2230 Merry Oaks Lane, East Moline; $165,000.

Bickett, Jonathon L. and Monica, Winnebago, Ill., to Johnston, Corey and Deborah, Moline; 331 16th Ave., Moline; $87,000.

Buckrop, Margery, Moline, to Nesbitt, Gerald and Sheila, Rock Island; 2804 25th Ave., Rock Island; $45,000.

Dowell, Christopher, Taylor Ridge, to Freyermuth, Mark, Taylor Ridge; 13818 143rd St. W., Taylor Ridge; $185,000.

Zerull, Joe and Erin, Geneseo, to Dial, Kimberly R. and Hurd, Morgan D., Moline; 1175 26th St. A, Moline; $110,500.

The Village at Deer Meadows, Moline, to Gary Hodge Inc., Moline; vacant lot, Silvis, Hampton Township; $28,000.

Kirik, Steven P. and Christina K., Bettendorf, to Perez, Anne and Tim R., Moline; 3419 49th St. and 4501 34th Ave. A, Moline; $231,675.

Ineichen, Craig J., Muscatine, to Leemans, Tom J. and Elizabeth A., Taylor Ridge; 9700 108th St. W., Taylor Ridge; $198,000.

Citifinancial Servicing, O'Fallon, Mo., to Slade, Steven and Jeannette, Bettendorf; 916 34th Ave., East Moline; $55,000.

Smith, Willis H. and Judith K., trust, Milan, to Falk, Alan and Christal, Hillsdale; 11601 3rd St., Milan; $175,000.

Vrombaut, Alan J. and Krista L., to Eads, Sarah L., Rock Island; 2441 McMillan Court, Rock Island; $67,000.

Affordable offers push festive home sales up 15%

Home sales in Indian cities jumped up to 15% during the Dussehra and Diwali festive season as direct discounts offered by developers on affordable homes found a lot of buyers. 

According to industry insiders, housing sales increased 10%-15% year on year this festive season although the resale market is still waiting for any signal of an uptick. The growth, however, comes on a low base because the housing market had a dull festive season last year. 

"Discounts were available and that did work to prompt fence sitters to act," said Pankaj Kapoor, managing director at property research firm Liases Foras. "Affordability was the most important factor that worked for some developers and projects. In Mumbai, properties launched with price tag between Rs 1-2.5 crore gained the traction, while in extended suburbs across Mumbai metropolitan region Rs 30-70 lakh price category worked," he said. 

Roanoke College poll shows sellers optimistic about real estate market

While Virginians feel good about the current real estate market, there are some concerns about its future, according to a new Roanoke College poll.

Overall, 57 percent of Virginians believe market conditions have improved since last year and just 20 percent believe that the landscape has worsened. For the past three years, polling has shown that there is usually a seasonal dip in optimism among people looking to buy or sell a home this time of year. This year, the dip was slightly less than it was in the two previous years.
 Click here!

“Additionally, 50 percent believe that conditions will improve over the next year, down two points since August,” the poll said. “Fifteen percent believe that the market will decline in the coming year, up one point from last quarter.”

Looking into 2016, sellers were more optimistic, citing low mortgage rates. Sellers were 28 percentage points more optimistic than pessimistic about next year, up slightly since August.
Buyers, the poll showed, felt positive about the current real estate market across every region in the state. However, buyers were less optimistic about next year, especially in Northern Virginia. The poll said many were concerned about rising home prices and interest rates.

The poll of 603 Virginia residents was conducted in November. It’s part of a series of polls regarding attitudes about Virginia’s overall real estate market.

Bring alcohol and real estate within GST ambit: Panel

The government panel on GST has strongly recommended to bring alcohol and real estate within the GST ambit in order to reduce black money generation. 

In the same vein, it has advocated to bring electricity and petroleum within the scope of the GST to make Indian manufacturing more competitive.

 And, it suggested higher taxes on precious metals like gold in order to wean away people from the yellow metal that increases Centre’s import bill out of proportion.

“Choices that the GST Council makes regarding exemptions/low taxation (for example, on gold and precious metals, and area-based exemptions) will be critical. The more the exemptions that are retained the higher will be the standard rate. There is no getting away from a simple and powerful reality: the broader the scope of exemptions, the less effective the GST,” it said.

 On alcohol and real estate, it said, “It would be advisable at an early stage in the future, and taking account of the experience of the GST, to consider bringing fully into the scope of the GST commodities that are proposed to be kept outside, either constitutionally or otherwise. Bringing alcohol and real estate within the scope of the GST would further the government’s objectives of improving governance and reducing black money generation. 

“Bringing electricity and petroleum within the scope of the GST could make Indian manufacturing more competitive; and eliminating the exemptions on health and education would make tax policy more consistent with social policy objectives,” the panel said.

 According to some estimates, real estate is about a tenth of the Indian economy, the extent of black money floating around in the sector is huge — many times more than what is said to be stashed away abroad.

Friday, 4 December 2015

D-Company still has a strong grip on Mumbai real estate

Gangster Dawood Ibrahim’s involvement in several redevelopment projects across Mumbai has come to light following a detailed investigation by The Hindu into the city’s underworld.

Officials who have kept a close watch on his gang say the syndicate has a highly organised system of controlling, extorting money from or taking part in many of the redevelopment projects. Technical surveillance done by Indian agencies gives credence to the statement. On rare occasions, when Indian agencies have been able to zero in on Dawood Ibrahim’s activities, there have been strong hints of his interests in the construction business — in both Mumbai and the UAE. One of Dawood’s associates told him in May 2013 that he had given 2 million (it is not clear if it is rupees or dollars) to someone after completing the documentation. The associate talks about one Abbas Bhai who has opened a real estate business in Mumbai. In turn, Dawood tells him that he has ceased his previous partnership and has now tied up with one Abid Bhai.

In a series of phone calls in early 2013, the Pakistan-based Dawood carried out detailed discussions on property purchases in Mumbai. India’s most wanted criminal told one of his UAE associates not to buy property in a particular locality.

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