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Showing posts with label varanasi residential land. Show all posts
Showing posts with label varanasi residential land. Show all posts

Saturday, 12 December 2015

Plum Island’s Pink House Inspires a Real Estate Fantasy

Several years ago, I called a real estate agent in my hometown, Newburyport, Mass., with (as one tends to bring to agents) a fantasy. I wanted to buy the Pink House.

I had first glimpsed this house as a child, from the back seat of the family station wagon en route to the beach. The foursquare single-family home sat alone on the road out to Plum Island, overlooking a vast flat landscape of pristine salt marsh. The sight unnerved me and became a mainstay of my nightmares: A lonely, unloved thing looming against a howling sky, its cupola a leering, all-seeing eye.

Over time, my unease had mellowed to familiarity, then affection, which deepened upon hearing its rumored back story: In 1925, a wife agreed to divorce her husband on the condition he build her an exact duplicate of the home they shared in town.

Because she didn’t specify where the house should go, he built it where it would cause her the most unhappiness: by itself, far from everything, no fresh running water (only salt). There’s a term for this: “spite house.”

Real Estate Pros Try Their Hand At Purple Prose In Selling The Priciest Homes

Some real estate agents are now trying a different method in getting the priciest homes out of their inventory, and it's not home staging, nor offering crazy incentives, Stefanos Chen of The Wall Street Journal reports.

Real estate website realtor.com conducted a listings language analysis and found out that the property's price tag greatly affects the listing's property description. The analysis has shown that the pricier the home, the more flowery verbiage are used to describe the property, and that luxury agents are penning purple prose to close deals.

"Majestically poised along the shimmering Gulf of Mexico," were the introductory words for a 222-word property description for a $10.9 million beach home in Sarasota, Fla. It also cites the "unique harmony" of this "haven of serenity" suitable for "undisturbed reflection."

Using a 1970's algorithm used for school-grade levels called Flesch-Kincaid scale, the Fla. Listing scored at the 12th-grade reading level.

Premier agent spotlight: Bill Baldwin believes in strength of city, real estate market

Bill Baldwin is a firm believer in the strength of Houston both economically and as a viable place to live.
As the local real estate market is realigning from the soaring prices in 2013-2014, there is uncertainty in the minds of buyers and sellers.
"Houston is not just an oil town. The city has become economically diverse with medical research, information technology, aerospace and manufacturing, all of which are producing a number of jobs and stabilizing our economy," Baldwin said.
The market has been headed toward stabilization since the end of last year.
Baldwin is not worried about the market in the long term.

He has been in real estate long enough to know that the market will have its ups and downs.
"Newer real estate agents have only known the great market of the past couple years. Yet, a changing market is part of real estate. The stabilization we are seeing now was bound to happen. Knowing how to advise our clients and navigate through is part of the real value of a Realtor," Baldwin said.
Baldwin is confident in what Houston has to offer. He sees a city full of great neighborhoods, a strong sense of community with a broad and diverse range of attractions.

Friday, 11 December 2015

Washington’s top real estate developer is painting murals in your neighborhood. Is it art or marketing? Or both?

It has long been an act of rebels, activists and, indeed, criminals to plaster the walls of a city with a can of spray paint. And it remains the pursuit of outsiders who do their work out of sight or in the dead of night.

Even for those who made a name for themselves in street art, such as Britain’s mischievous and scathing graffiti legend Banksy, the reward has often been to see one’s work quickly scrubbed or painted over by authorities.

Locally, there is an aggressive new commercial campaign to promote street artists and muralists. One painted a 65-foot portrait of F. Scott Fitzgerald, with a silhouette of his wife, Zelda, on the side of an apartment building. Another spray-painted an abstract array of bright polka dots and stripes on a brick wall in Rosslyn. A third blanketed the wall of a parking garage at the National Cancer Institute with images of the United States and Native Americans.

A group of painters is making over drab corners of the Washington area with large-scale murals, each bringing their own talent and inspiration to a genre popularized in the United States by graffiti artists. But all the new pieces share the same origin: the anonymous gray office building on Willard Avenue in Chevy Chase, Md.

Aditya Birla Real Estate Fund looking to raise Rs1,000 crore

Aditya Birla Real Estate Fund has invested about Rs.90 crore in buying apartments in Signia Isles, a luxury residential project of Sunteck Realty Ltd in Mumbai’s Bandra-Kurla Complex, according to two people familiar with the development.

With this, the Rs.1,100 crore fund has deployed its entire corpus across 13 transactions.

Having invested its maiden real estate fund, Aditya Birla Real Estate Fund, part of Aditya Birla Financial Services Group, is planning to go ahead and start raising its second fund early next year that will invest in residential projects. It is aiming to raise about Rs.1,000 crore.

Sunteck Realty is developing three luxury residential projects in Bandra-Kurla Complex—Signature Island, Signia Pearl and Signia Isles. Prices in Signia Isles are about Rs.42,000-45,000 a sq ft. Earlier this year, the Mumbai-based developer acquired another plot of land in the area to develop a premium commercial office project through a joint development model.

“Sales have been good in Signia Isles and we are planning to start delivery of the apartments in the project by mid-2016,” said Kamal Khetan, chairman and managing director, Sunteck Realty.

The investment has been made in the form of equity through non-convertible debentures (NCDs).

An Aditya Birla spokesperson declined to comment.

With the Sunteck Realty deal, Aditya Birla Real Estate Fund has done five transactions that involve bulk buying of apartments, said one of the people mentioned above. Both of them declined to be named.

In March, realty firm Ozone Group raised Rs.150 crore from the fund for its Metrozone project in Chennai, by selling residential stock in the project in a bulk-buying deal. It also bought stock worth Rs.85 crore in a suburban Mumbai project being developed by Radius Developers in a structured equity transaction.

Wednesday, 9 December 2015

How News Corp Aims To Increase Its Digital Real Estate Services Revenues

The Digital Real Estate Services segment accounts for more than 35% of News Corp‘s valuation, in our estimation, and this segment derives revenues by selling online advertising services on its residential real estate and commercial property sites. The company is looking to grow in the property and home services category in Australia and a step towards this goal was its acquisition of 25% stake in tradie search site hipages, which helps people find electricians, plumbers and other home related services. While this is a small stake in a start up, it can complement News Corp’s residential real estate advertising business and is an indication of a larger strategy of increasing focus on the digital real estate business. A major acquisition of iProperty by News Corp’s REA, ((News Corp owned REA acquires iProperty for $414M, medianama.com, November 2015)) which is likely to be completed by the first quarter of 2016, could be the key driver of global revenues for this segment.

In September 2014, News Corp acquired Move, Inc., the company that operates the widely used realtor.com in the U.S. Given Move’s content advantage, the company felt that it was well-positioned to capitalize on the fast growing U.S. online real estate sector. News Corp’s Digital Real Estate business saw a 71% increase in its top line for Q1 FY 2016, including revenues realized through Move Inc. We expect revenues of this segment to increase from nearly $0.65 billion in 2015 to more than $1 billion by the end of our forecast period. The company is looking for avenues to grow this revenue aggressively and the latest investment in hipages seems to be part of this strategy. In addition to Australia (News Corp has a 61.6% stake in REA Group Limited operator of the Australian residential property website, realestate.com.au) and the U.S. (acquisition of Move, Inc.), the company is looking to expand its digital real estate business globally. In November 2014, News Corp acquired a 25% stake in the parent company of PropTiger.com, a digital real estate marketing platform in India, for $30 million. The Indian Real Estate market is expected to reach $180 billion by 2020, and the acquisition of PropTiger.com has given News Corp entry into this growing market.

Property for sale in Varanasi Property rates in Varanasi Residential projects in Varanasi

Tuesday, 8 December 2015

Real Estate Advice: Stylish Home Organization Tips from Designers

When it comes to designing and organizing the home to be stylish, people tend to get stressed. Especially for homes with big families, organizing a home stylishly is difficult. However, everything is easier if people listen to the bits of advice that designers give out freely. 

Elle Decor listed some pieces of stylish home organization tips for every household that are very much achievable. These interior designers belted out useful tricks they usually rely on in keeping homes organized and stylish at the same time. 

1. Tiffany LeBlanc encourages people to "Use the kitchen for family time - don't let it be a "drop spot" for paperwork, mail and kids homework. Designate another area for that day-to-day stuff and enjoy a clutter free space with your family."

2. According to Susanna Salk, "It's all about the editing: the less stuff you have, the less stuff you have to mess up. Make sure that every single thing in every single room is only what you love or only what you need."

3. "Make sure that every non-decorative item has a place to be stored. Additionally, the storage location should be in close proximity to the space that it will be used in and easy to access and put away, "Lori Margolis explains.

How to Start a Career In Real Estate: 4 Beginner's Tips

Many still ask if investing in real estate is worth the time and effort and the financial risks. Real estate generates a positive flow of resources. As in the case of rental properties income can flow steadily. Not to mention, property values tend to increase with inflation, according to USA News.  Real estate is also a great personal investment because unlike other commodities, real estate appreciates over time. Think of how much that property you buy now is worth 10 or 20 years from now. Moreover, think of how much rental income you can get in that span of time as well. So investing in real estate is worth it, and with wise decision making skills and a good start, you can even make a career out of it. There are things  to bear in mind when starting a career in real estate.

Which Celebs Won Big (and Which Ones Bombed) in 2015 Real Estate?

Let’s be honest, we will (almost certainly) never set foot inside the homes of Katy Perry or Brad Pitt. So realtor.com® offers the next best thing: the deep, inside scoop on celebrity housing! With 2015 coming to a close, we thought we’d take a look at celebs who made winning real estate moves this year, as well as those who foundered.

Country music-turned-pop star Taylor Swift is also a budding property mogul with an ever-expanding portfolio of properties. With massive crash pads in her hometown of Nashville, TN; Beverly Hills, CA; Manhattan, NY (Peter Jackson’s old penthouse); and other places, her holdings reportedly total $70 million. Not bad for a 25-year-old!

In July, rapper 50 Cent filed for bankruptcy; but two months later, he was flaunting new digs in Africa. Meanwhile he’s been trying to unload a 21-bedroom, 25-bathroom behemoth in Farmington, CT, since 2007. Initial asking price: $18.5 million. List price this year? $8.5 million. And still no takers. We’ve asked this before, but could it be the stripper poles?
Winner: Kim Kardashian

Kim Kardashian has racked up quite the real estate miniature empire. Even her 9,000-square-foot “starter home” with Kanye West in Beverly Hills was extraordinary—and renovated to even greater heights with four now-infamous gold-plated toilets. Bought for $10.75 million, the home went on the market in November for $20 million. That’s quite a markup, so if they get even close to that they’ll be doubling their money.

Big data a big deal in commercial real estate, says CrediFi

And what’s more, said Ely Razin, CEO of CrediFi, which provides the first source of hard data about the industry, his Jerusalem-based start-up consists largely of immigrants from the US and other English-speaking countries,


“Israel is usually known for its strong tech skills, and as a big data company, we have our share of data geeks,” Razin told The Times of Israel. “But to make this work as an Israeli company, we needed a lot of people who were experts in the commercial real estate, and we were able to find them among Western immigrants to Israel.”

CrediFi is an idea that has long been needed, said Razin.

“The commercial real estate market is worth trillions, but until this year there has not been a central depository of objective information about buildings, investors, landowners, and other essential, basic information an investor needs to make a good deal. That kind of data has long been around for the stock market and other investment markets – why not for commercial real estate?”

Razin is very familiar with those other sources of data. A former top executive at Thompson Reuters, he was recruited two years ago to help develop CrediFi. “The idea was puzzling to me, because it was hard to imagine that there was no automated source of information about this market – but an extensive study we conducted indicated that that was indeed the case.”


Merging landlords see growing profit on rentals

It was supposed to be a short-term play. Investors would buy thousands of bargain-basement single-family homes during the foreclosure crisis, rent them for a few years and then sell them off and be done.

That's what the critics thought anyway, but that is not how this still-nascent class of real estate is playing out. Instead, the big players are consolidating, which could make the stocks of those left standing potentially more attractive.

The announcement last week of a merger between Arizona-based American Residential Properties, which owns 8,938 rental homes, and California-based American Homes 4 Rent, which owns 38,377, was the third such deal in the asset class this year. The combined company will own and manage homes in 22 states and is projected to have an equity market capitalization of $5.5 billion based on closing prices as of Dec. 2.

Monday, 7 December 2015

Real estate brokers might have sabotaged city’s master plan

A Facebook post by a town planning official in the wake of Chennai floods has reignited debates on real reasons that led to cancellation of master plan in 2014 which also holds real estate mafia for forcing a freeze on it. In the post, town planner Baiju K, who was associated with the preparation of master plan, rues about the manner in which conservation of green strips so vital to flood control was done away with following the cancellation of master plan and how city could repeat a Chennai-like ordeal in case of heavy showers. 

The master plan had proposed Green to planned development as a guideline for conserving the water retention areas, water carrying canals and the remaining low lying land. According to the official, the low-lying lands were in the hands of real estate brokers which they advanced for cheaper rate and they didn't want any external body to take control over that. 

"What followed was an organized and ill-motivated agitation which finally succeeded in ensuring a freeze on the published master plan by the government. This was the opportunity wanted by the real estate brokers and within no time they subdivided the low-lying lands and sold them," the official writes on Facebook. 

Baiju even adds that the permits given by the corporation after freezing the master plan speaks volumes about it. "I am sad to say that planning failed before political and money power," he said.

Saturday, 5 December 2015

About Real Estate: ‘Bubble wrap’ can help cut home-utility costs

Those bubble-filled sheets of plastic that are commonly used to protect fragile items can protect against high energy bills, too.

DEAR MR MYERS: Have you ever heard of using “bubble wrap” that’s used to wrap fragile items on windows instead, in order to save on energy costs? If so, does it really work?

ANSWER: Yes, most energy-saving experts say that bubble wrap — those sheets of plastic packing material covered with small air cushions to protect easily breakable goods — can help to slash a homeowner’s monthly heating bills.

The catch is that the windows have to be selected carefully, and the bubble wrap has to be applied appropriately.

Bubble wraps are practical only in lesser-used areas, such as windows in an attic, basement or garage. After all, you wouldn’t want to look out of your kitchen or living-room window on a sunny day and see nothing but a sheet of pimpled plastic.

Clean the window first. Then mist it with water and put the wrap on the pane, with the bubble side against the glass. The air bubbles help to block cold air from coming inside, cutting the heat loss from an uninsulated window in half.

Because there’s no glue involved, you can simply peel the plastic off when the weather warms.

Poorly insulated windows are among the biggest energy-wasting items in a home, experts say, even though many homeowners don’t even know that they have such a problem.

To test your windows, place a lit incense stick near the glass. If smoke from the stick moves, you have a leak. Seal it with an inexpensive tube of caulking.

Rarely-used fireplaces also are often-overlooked energy goblins, because a sizable portion of the warm air generated by a home’s furnace disappears up the chimney. If you have a fireplace that you don’t use very often, you can buy a small “chimney balloon” that keeps the furnace’s warm air from escaping.

Real estate boom in Kakinada

The district headquarters city of Kakinada, which earned the name as education hub for decades, is now in the forefront for smart city status. Three cities viz Kakinada, Vizag  and Tirupati have been listed by Union Urban Development Ministry among the 100 cities across the country. As per the guidelines, 20 cities will get this tag, every year basing on the merits of project report. In this aspect, the cities in the lists face stiff competition among themselves. 

Under this scenario, the wide publicity on smart city status by both government agencies as well as private parties including realtors created real estate boom in Kakinada and surrounding areas.  As per the details available, the Urban Development Ministry will provide Rs 100 crore to the selected cities under this category and the rest of the funds for development will have to be mobilised by the respective civic bodies under PPP programme.   A realtor and former Kakinada  Rural  Mandal Parishad president VY Dasu said that the price of one square yard  in Kakinada city has gone up to Rs 50,000 from the earlier Rs 30,000  - 35,000 after the extensive publicity on smart city status.

YSR Congress Party leader and former sarpanch of Turangi panchayat  in Kakinada city suburbs, Adduri Phanish Ravi Raj Kumar said that the sudden boom had promoted many relaters to opt for unauthorised sale of agriculture land as house plots without valid conventions in Kakinada rural particularly in Kovvur, Turangi and Ganganapalli villages.  Due to this sudden rush to purchase a piece of house site, the price of one square yard crossed Rs 15,000 from the earlier Rs 8,000 -10,000 in the areas he said. 

Read Full Story: Real estate boom in Kakinada

Vizag's first FDI real estate project gets underway

Work on the first FDI real estate project in the city, named Celest, got underway here on Saturday at Gajuwaka, with the performance of "Bhumi puja".

According to Monish Row, Director, the project was awarded to the 90-year-old construction major, Simplex Infrastructure. "We want to give quality housing to the people at affordable prices," he said.

Of the 250 flats to be built in the first phase at the seven-acre site beside the highway, 90 per cent had been sold, he said. It would be a gated community with vaastu-compliant houses.

The project is being taken up by the real estate arm of SRS, a global investment firm. "We are working with SRS projects in other Indian cities too. We are happy to take up this major project," said Gautam Kar, senior General Manager of Simplex Infra.

Monday, 30 November 2015

Real Estate News: Chinese Investments Flooding U.S. Real Estate Market

Canyon Lake Ranch, a place 35 miles northwest of Dalas that used to be known for outdoor activities such as camping and water skiing has been transformed into a zoo of dangerous animals. However, the ranch will soon be transformed into a subdivision with 99 small mansions that are designed for Chinese buyers who are mostly from the Mainland, China.



Chinese people have been investing globally despite the current stock market crash in China. According to the New York Times, these individuals are eager to invest anywhere except their home country. In fact, Chinese investors have been purchasing real estates in London, Vancouver and Australia.

The same scenario applies to United States. Chinese investors are, according to Time, spending their billions into projects in the US such as those the real estate industry. They are said to be buying luxury condos in Manhattan and mansions in Silicon Valley.

The influx of Chinese home buyers in the US greatly affects the affordability and availability of housing in dense areas such as San Francisco and Manhattan. Although they still remain a small fraction of overall market for expensive properties, it cannot be argued that it does play a role in the trends of the market.

Real estate companies and brokers have been developing products and services catered to Chinese customers, too. In fact, a Chinese real estate site, Leju, already has listed American homes by US real estate search website, Zillow, in their database.

Israeli real estate developer Gazit-Globe Q3 loss widens

Nov 30 Gazit-Globe, Israel's largest real estate investment company, posted a wider net loss in the third quarter due to one-off items, including for the reorganisation of its Canadian subsidiary FCR.

Gazit-Globe posted on Monday a loss of 92 million shekels ($23.7 million) compared with a loss of 13 million a year earlier. Other one-time items included a mortgage prepayment penalty at its ProMed medical office subsidiary.

Rental income grew 29 percent to 1.55 billion shekels, while net operating income rose 27 percent to 1.07 billion shekels, helped by the consolidation of its Atrium European Real Estate subsidiary and the acquisition by its Citycon subsidiary of Norwegian real estate firm Sektor Gruppen.

Gazit-Globe said it would pay a dividend of 0.46 shekel a share for the third quarter, the same as in the second quarter.

Gazit-Globe operates in the United States through Equity One and in Canada through First Capital Reality Inc . It is the largest shareholder in Finland's Citycon , controls shopping mall developer and is expanding in Brazil.

Friday, 27 November 2015

San Francisco Real Estate Giant Douglas Shorenstein Dies At 60

Douglas Shorenstein who is known as the second-generation leader of one of San Francisco’s real estate, died of cancer at his home.

The 60-year-old real estate tycoon owns Shorenstein Properties that has sponsored 11 closed-end real estate investment funds of $7.9 billion in almost 60 million square feet of property over the last 20 years.

Prior to joining the real estate company that was founded by his father Walter Shorenstein in 1983, he was an attorney at the law firm Shearman & Sterling in New York. When he became executive officer in 1995, the firm branched out wherein they develop both old and new properties like the global headquarters of Twitter.

The company owns iconic structures including San Francisco’s Bank of America Building at 555 California, Chicago’s John Hancock Tower, Hamilton Square in Washington, D.C., Park Avenue Tower in New York, and 1201 Third Avenue in Seattle.

Aside from that, he was also well known for his philanthropic contributions like his investment in Aim High, which is a “Bay Area nonprofit that provides no-cost summer academic programs in San Francisco, Oakland, Marin County and San Mateo County,” Biz Journals wrote.

“Education is an organization in transition where our involvement would make a real difference in the neighborhoods where we were doing business and where our employees could participate as volunteers or clients of the service,” Shorenstein told the Business Times back in 2011.

Shorenstein also did many remarkable decisions during his leadership of the Shorenstein Properties like how he invested heavily in tech-friendly warehouse-style buildings such as the Western Furniture Exchange and Merchandise Mart in San Francisco.

He is also remembered as generous, kind and “had this unbelievable instinctive intelligence for real estate,” Len Baker, a partner with financial consultants Sutter Hill Ventures and board member of Shorenstein Properties said.

How retailers are spinning real estate assets into investing gold

Canadians have had a front-row seat to the alchemy involved in turning retailers’ real estate assets into investing gold. Empire Co. Ltd., the parent company of Sobeys, and Canadian Tire Corp. were among the first chains to stoke their share prices by spinning off store properties into publicly traded real estate investment trusts (REITs). This past winter, Hudson’s Bay Co. governor Richard Baker concluded two big deals to spin off U.S. and Canadian real estate and raise more than $1 billion in cash.

It’s now a motif for investors in retailers: Capture the swollen value of properties by selling them, then lease back the stores. Among the U.S. chains that have done it recently are Sears Holdings Corp., Bon-Ton Stores Inc. and Darden Restaurants Inc., owner of the Olive Garden.


Here, however, is a tip for investors intrigued by the idea: Be careful. It’s hard to separate the value of the buildings from the value of the business of selling stuff.

Macy’s is a fine example. The company has 885 stores and it owns about 575 of them. This past summer, analysts at the investment firm Cowen & Co. estimated that Macy’s properties were worth about $19 billion on an enterprise value basis, which includes the equity and debt in those holdings. (All currency in U.S. dollars.) They pegged the enterprise value of the entire company at about $30 billion. Flowing those numbers through to Macy’s common shares, the analysts concluded that there was a potential upside of 24% in the share price.

A backdoor listing to disrupt the real estate market

The latest junior explorer to transform itself by offering a 'backdoor' listing to a non-mining firm hopes to disrupt the housing market by offering an alternative to traditional real estate agents.

Backdoor listings, or reverse takeovers, have become something of a fad for resource companies over the past two years as investor appetite for highly speculative explorers evaporated.

MinRex Resources, a junior gold explorer with its main project area east of Geraldton in Western Australia and another in Tasmania, had the misfortune of timing its own IPO for November 2011, when the signs were already mounting that the peak in the mining boom had passed.

“MinRex has been looking at various other corporate opportunities for the last few years,” executive director Simon Durack says in an interview.

While some options were in the mining sector, Durack was finally convinced by the opportunity to take a slice of the transaction costs in the real estate market by undercutting agents.

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