DELHI, HARYANA, BENGAL PLAN TO INSURE LAND TITLE - 04/28/08 06:23 AM
Delhi, Haryana, West Bengal, AP and Orissa are planning to insure land titles in their respective states. Land title insurance is an indemnity insurance against financial loss from defects in title to real property and from the invalidity or unenforceability of mortgage liens. It is meant to protect an owner's or lenders financial interest in real property against loss due to title defects, liens or other matters.
A one-time premium in this regard will be shared by the state governments and the primary lending institutions to provide land title insurance. According to industry analysts, many land deals fall through and … (2 comments)
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RLYS TO SEEK BIDS FOR DEVELOPING VACANT LAND - 04/26/08 08:13 AM
Indian Railways plans to invite bids from real estate developers to set up commercial complexes on its vacant land, as part of efforts to increase revenue. In a written reply to Parliament, minister of state for railways R Velu also said private investment would be sought to modernise 26 major stations. The ministry has set up Rail Land Development Authority for commercial development of vacant railway land for generating revenue. "As per current thinking, railway land is to be given to developers for commercial development through transparent bidding process on long term lease basis for development work without any budgetary resources," … (0 comments)
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THE LAND BANK AGAIN, AND THE BENEFICIARY'S SHREE PRECOATED - 04/26/08 01:57 AM
The counter of Shree Precoated is witnessing sustained investment-based buying by investors. The buzz is that the company is going to register good numbers. Analysts say the company is expected to report a PAT of about Rs 240-250 crore on revenue of Rs 2,000 crore for FY2007-08. The company is looking to develop its 67 acres Kanjuurmarg property, which it had acquired for Rs 42 crore about 30 years ago. The current market value is estimated to be about Rs 4,000 crore. The total cost of the project would be to the tune of Rs 5,000 crore and would generate a … (0 comments)
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Tidco, DLF Ink MoU for ITS Zone - 04/25/08 12:33 AM
Chennai the Tamil Nadu Indusstrial Development Corporation (Tidco)and New Delhi-based real estate developer DLF Building India signed a memorandum of understanding (Mou) in Chennai on Wednesday to develop an IT SEZ at suburban Taramani at a cost of Rs1,500 crore. According to a state government release on Wednesday, the new SEZ will generate employment opportunities for Rs 45,000 people directly, while another 10,000 jobs will be created indirectly. The new SEZ is expected to come up in an area of 45 lakh sq. ft. The first phase of the constructon work on the scond phase (over 20 lakh sq ft) would … (0 comments)
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'SPRINGDALE' EXECPTIONALLY DESIGNED ITALIAN HOMES IN WAGHOLI, PUNE - 04/25/08 12:32 AM
Inspired by the architecture of the land that gave the world its greatest works of art. From Michelangelo's frescos to Leonardo da Vinci's unrivalled Mona Lisa.
IDEB presents exceptionally designed Italian homes on the Pune-Ahmed Nagar Highway. The only residential enclave in Wagholi, one of Pune's fastest developing locality and soon to be a major IT hub.
Merely a hop away from Ranjagaon Industrial City Estate and a whisper away from MIDC's proposed SEZ. Yet housed in a cocoon of lush green open spaces. A haven in the name of home. A true bella figura in the Italian order.
Springdale is a FAR cry … (0 comments)
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MLD TO INVEST $4.5 B IN RESIDENTIAL PROJECTS - 04/23/08 05:12 AM
Mahindra Lifespace Developers (MLD), the real estate arm of $4.5-billion Mahindra Group, would invest close to Rs 800 crore in its six upcoming residential projects in Mumbai, Pune, Chennai, Delhi and NCR over the next 2-3 years, reports Pramugdha Mamgain from New Delhi. With the launch of its residential project in Faridabad recently, the company entered the real estate market of North India. The real estate firm is targeting a turnover of Rs 1,000 crore in the next five years against Rs 163 crore in 2006-07. So far, the company has completed projects in Mumbai, Pune and Chennai and is now … (1 comments)
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L&T GETS LAND FOR RS 3500 CR MUMBAI PROJECT - 04/22/08 06:21 AM
The property division of engineering and construction company Larsen & Toubro was on monday given possession of the land for commercial complex of seawoods Darave railway Station at Navi Mumbai the venture with the ity and industrial development corporation of maharshtra cideco, o ver 40 acres is estimated at the 3500 cr is to be develk9oped over thre yesra. This involes developing between foru and ive million saft of commercial space of office complexeds shopping malls star-hotels, multiplexes and service apartments. l&t baged the development rights for rs 1,809 crore in feb this year, outbidding other biggies such as DLF and … (0 comments)
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LEGAL OPINION SAFEGUARDS FROM DISPUTES - 04/21/08 05:35 AM
ISSUES THAT A LEGAL OPINION COVERS IN PROPERTY TRANSACTIONS
Getting a legal opinion is important during acquisition of any property. This is an integral part of the property acquisition process. The purchase of property is a complicated process. This is compounded by the fact that each State has its own systems of acquisition and transfer of property. The land records are generally in the local language. Going through the property documents is not easy.
You need to go through a host of documents to trace out the ownership of the property. Although the purchaser can do an initial review of the … (1 comments)
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PROPERTY DOCUMENTS YOU NEED TO CHECK - 04/19/08 05:41 AM
Documentation is an essential and complicated part of a property acquisition process. Different states have different requirements. There are many laws that govern the process. However, you should have a checklist of documents to be verified before deciding on purchasing a house. These documents should be scrutinised before giving any advance to the seller. It is always advisable to have these documents vouched by a legal expert.
Here are some documents you need to have checked:
Purchase of freehold residential plot or house
The main documents to be verified in such a case are:
Copy of the sale deed through which … (1 comments)
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CITI REALTY ARM TO BUY 10% STAKE IN GOLDEN GATE FOR RS 400 CRORE - 04/18/08 02:52 AM
Citigroup's real estate arm is set to invest around Rs 400 crore ($100 million) in Bangalore-headquartered Golden Gate Properties for about 10% stake, sources said. The deal is expected to value the tier-II real estate firm at a little over $1 billion. This marks Citigroup's back-to-back deals in the domestic real estate space in the last fortnight. Early last week, the global financial giant unveiled $160 million play in Delhi-based BPTP.
Golden Gate is primarily into residential market with about 20,000 units under development totaling 23 million sq ft across southern cities such as Bangalore, Chennai and Hyderabad. The company also … (0 comments)
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GROWTH OF INDUSTRIAL RENT HIGHEST IN MUMBAI - 04/16/08 07:32 AM
Mumbai has witnessed the world's highest (94.4%) increase in rentals of industrial space in 2007 from Rs 18 per sq ft per month to Rs 35 per sq ft per month ($10.88 per sq ft per annum). With this, the financial capital of the country leaped 11 positions to be 26th most expensive industrial locations in the world, said a global report on industrial space by real estate consultancy firm Cushman and Wakefield.
The rise in rentals of industrial space at Ranjangaon in Pune and IMT Manesar in the National Capital Region is fourth and sixth highest in the world. In … (0 comments)
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LODHA LAUNCHES LUXURY RESIDENCES - 04/16/08 12:38 AM
While there is talk of a demand crunch hitting the real estate industry developers still see prospects ahead, men for luxury Projects. Mumbai-based developer Lodha Group has launched luxury residences branded Lodha Marina at Mumbai's harbour zone of Sewri. With close proximity to Worli, Prabhadovi and Lower Parel, easy connectivity to 'Nariman Point, and Bandra-Kurla Complex business districts, Lodha Marina is positioned at the higher and of the market.
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UNITY BAGS TWO ORDERS WORTH RS.221 - 04/15/08 07:16 AM
Unity Infra-projects Limited has bugged Live orders worth Rs 221.85 Crore to build a mall-hotel-multiplex project at Pune for Vamona Developers Pvt. Ltd. at an estimated value of Rs 133.89 crure. In Hyderabad, Unity is building five towers with a basement and a podium at Kondapur for Kondapur Tower Pvt Ltd. The contract is worth about Rs 88.26 Crore.
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HIRCO\'S CHENNAI PROJECT REPORTS ROBUST REVENUES - 04/15/08 03:59 AM
Hirco PLC, the investment vehicle of Mumbai-based Hiranandani Developers, has announced that sales of residential units in Phase 1 of its Hiranandoni Palace Gardens township development in Chennai continue to be robust both in terms of volume of units sold and the level of pricing achieved. As of March 31, sales revenues have been received on proximately 15.62.820 square feet at on overage price of RS 3,906 per square foot.
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OMAXE INCREASES AD BUDGET TO RS 100 CRORE - 04/15/08 12:45 AM
Relieving its budget allocation for the financial year 2008-UH Delhi-based realty player Omaxe Ltd. has outlined its new budget amount for the New Year. The developer plans to push up its ad spend to Rs 100 crore from Rs 80 crore. Hath print and electronic media will be covered by the budget, which could be aimed at boosting demand amid a period of correction in the industry and inflationary pressures in the economy
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CLERIDGS HOTELS - 04/14/08 06:15 AM
Cleridges will construct 1500 New Rooms at a cost of Rs.200 crore Group CONDERING TO OPEN HOTELS AT SEVEN PLACES with the entry into foreign markets and planning to expand in few cities of the country, cleridges Hotel Pvt. Ltd. will ad 1500 new rooms in its Hotel by investing Rs 1200 crore within next five years. Cleridges Hotel MD and CEO Peter J.Letgrb told the correspondent here "for investing in property we have a capital of 30 crore dollars. We are planning to open hotels at seven places so that the number of rooms may become from 1000 to 1500.
Letgeb … (1 comments)
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SKY-HIGH PROPERTY PRICES - 04/14/08 01:13 AM
PROPERTY PRICES have shot through the roof on MG Road.
For two small shops of 6000 square feet each, shopkeepers now pay something between Rs 1.5 and Rs 2 lakh per month. According to the tenants, there has been an increase of 10-15 percent in the property rates here once the Metro line is ready; landlords say property pries will rise further.
"We did not get any rents for about two years. Now that desealing has taken place, it is natural that property prices are going up," said Vijender Kumar Lohia. But the landlords are also worried about the future.
"What if the shops … (0 comments)
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LEHMAN BUYS 40% IN IT PARK - 04/12/08 12:39 AM
Global investor Lehman Brother has picked up a 40 per cent stake in the upcoming IT Park project of property developer Peninsula Land (PLL) in Hyderabad. Lehman is expected to hold the remaining 50 crore into the project. PLL is expected to hold the remaining 60 per cent.
The initial cost of the project, including land, is Rs 125 crore and the development cost is nearly Rs 1,400 crore. The company is planning to fund the project through debt and draw more funds from Lehman if required, sources said.
… (0 comments)
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CITI ARM PLANS $160M BPTP INVESTMENT - 04/11/08 02:49 AM
Hong Kong-based Citi Property Investment, the real estate investment arm of Citibank, is investing $160 million (Rs 650 crore) in Delhi based realty major BPTP to develop four special economic zones in Noida, Greater Noida, Faridabad and Gurgaon, BPTP sources said.
According to sources, a special purpose vehicle has been formed for the purpose. Citi Property Investment holds 40 per cent in the SPV, while the remaining 60 per cent is with BPTP. However, this is not Citi Property Investment's first investment in BPTP. In 2007, the Citi arm picked up 5.89 per cent in the company for Rs 322.50 crore. … (0 comments)
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SYSTEMA TO INVEST UP TO $200 M IN REALITY SECTOR - 04/10/08 05:51 AM
MOSCOW: Eyeing huge potential in India's construction and reality market ahead of the 2010 Commonwealth Games, Russian Conglomerate Systema on Tuesday announced plans to develop hotel offices and residential complexes in major cities with an initial investment of $10-200 million. The Russian giant has partnered with Syam Group, which has dievested 51% stake in its telecom enture in faour of Sistema, said Yevgeny Kolodkin, vicepresident (strategy and business development) of Sistema's construction subsidiary. The Systema- Shyam JV would be developing a 22-acre plot in Gurgaon , on the outskirts of Delhi, he said, adding that the land bank is owned by … (0 comments)
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EMAAR WILL ESTABLISH FOUR HOTELS AT A COST OF 40 CRORE DOLLARS - 04/10/08 05:48 AM
Dubai Based company EMAAR properties shall establish, in association with Mario International inc., four hotels by investing more than 40 crore dollars.The company informed that these hotels shall be established in New Delhi, Amritsar , Hyderabad and Kolkata . The construction of these hotels is expected to complete by 2010. In all 912 rooms will be constructed in these hotels.
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TIVOLI GROUP LAUNCHED HOLIDAY VILLAGE, SPREAD IN 8 ACRE - 04/10/08 02:25 AM
Tivoli Group has Launched Holiday village at Dharuhera near Gurgaon.This project is spread over in an area of 8 acre, and it will consist night club and a mini golf course along will modern amenities. It will provide 536 residential units which will comprise villas, studio apartment and penthouses; their price will be from Rs. 26 lac to Rs. 1.10 crore.
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LAND IN GREATER NOIDA JUST GOT COSTLIER, BY 50-60 P.C. - 04/09/08 05:43 AM
For many people the dream of owning property in Greater Noida might end up being just a dream. Land rates in Greater Noida, declared one of the cleanest and greenest urban areas in the country, have been hiked by 50 to 60 per cent.
Greater Noida and Taj Expressway Authority Chairman Lalit Srivastava said, "Greater Noida land rates have been hiked by 50 to 60 per cent in view of hike in land compensation. Residential land rates have been hiked from Rs 6,500 to Rs 10,500 per square metre."
Besides, Srivastava announced major rehauling of Noida and Greater Noida for Commonwealth … (1 comments)
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APARTMENT COMPLEXES ARE MUSHROOMING IN KOLKATA - 04/07/08 08:15 AM
The tastes and preferences of a Kolkatan are changing fast. Ten years ago, an apartment in the city was something that they would die for. Today; a discerning customer is looking for what he will get other than the space trapped between four walls.
Customers now prefer 'self-sufficient' housing complexes rather than stand-alone apartments in the heart of the city As a consequence housing complexes are now mushrooming all around the city and have turned barren land into prime locations. 'Ideal villas' of Rajarhat, Kolkata West, Uniworld City, and Calcutta Riverside are all examples of the above.
These projects, in addition to … (0 comments)
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UNION BANK LAUNCHES REVERSE MORTGAGE PLAN - 04/07/08 01:44 AM
Pune: Union Bank of India on Friday launched its reverse mortgage scheme for senior citizens. The scheme will enable senior citizens to obtain a monthly payment by mortgaging their residential property. Under the title "Union Reverse Mortgage Scheme", the bank will offer benefits to people aged above 60 years. The loan drawn against mortgaged property will have fixed interest rate of 10 per cent per annum. The same will be revised after every five years.
Courtesy: Busi. Standard April 7, 2008
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PARSVNATH INAUGURATES LUXUARY TOWNSHIP PRIDE ASIA - 04/05/08 12:45 AM
Delhi's real estate firms Parsvnath Developers Ltd. (PDL) have announced inauguration of their 123 acre luxury township Pride Asia in Changiarh. This project is being developed by PDL in association with Chandigarh Housing Board.
Company has claimed that after a period of three years, the actual cost of this project will become 10 crore dollars. This project is situated in gorgeous environment between Sukhna Lake, Golf Course and an under construction Five Star Hotel having Shivalik Hills behind it. It has 38.5 lac sq.ft. Residential and 2.7 lac sq.ft. Commercial saleable area.
Pride Asia is a part of Rajiv Gandhi Chandigarh Technology Park … (0 comments)
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YATRA CAPITAL INVESTS IN TWO PROJECTS IN BANGLORE - 04/04/08 05:49 AM
ANNOUNCING ITS 10th and 11th investment in Indian real estate sector, European fund Yatra Capital has invested 28 million euros in two new joint venture projects in Banglore.
The venture fund has million euros in palladium Constructions Pvt. Ltd, for a 30 per cent stake in a mixed- use development and 10.15 million euros in Platinum Hospitality Services Pvt. Ltd for a 30 per cent stake in a hospitality project. Yatra's joint venture partner in both developments is The Phoenix Mills Ltd.
With these investments, Yatra has so far committed 146.34 million euros of the 220 million euros of the capital raised.
Courtesy … (0 comments)
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FIRST- HAND PROPERTY ON EASIER TERMS - 04/04/08 02:32 AM
Buying a newly built home? You could consider purchasing property up to for re- sale in the secondary market. You could get early possession and even a cheaper deal than offered by developers in new project.
The trend will continue for the next 12 to 24 months until the inventory of unsold investor- owned flats remains on the market. Moreover, developers over the next 12 to 24 months will reduce their prices until the re-sale and fresh sale price converge.
Courtesy HT---31 March 2008
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PARSVNATH TO INVEST RS 40 CRORE FOR MALLS - 04/03/08 07:43 AM
Parsvnath Developers, a real estate company which is setting up a special economic zone (SEZ), has launched the construction of a mall-cum-multiplex in the city's fashionable Rajpur Road. The company will invest Rs 40 crore for developing of the complex, said the company's officials. Parsvnath Eleganza is the first such mall-cum-multiplex being developed in Dehra Dun. Eleganza, located at the prime location of Rajpur Road, the mall comes with an added advantage of a 4-screen multiplex within the complex. The mall is spread in a sizeable area of 1.5 lakh sq.ft with fully air-conditioned and 100 per cent power backup, claimed … (0 comments)
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HUL May Partner a Developer - 04/02/08 05:59 AM
Sources said HUL could look at partnering with a developer. The company is understood to have held talks with international developers such as Ascendas and Tishmen Speyer, which is in India through a JV with ICICI. Ascendas has developed a few IT parks in this part of the world.
This is not the first time HUL is looking to partner with builders to develop properties. In 1998, the firm had signed an agreement with Tata Housing to develop some land into commercial and residential properties.
HUL wants a centralized business plan for its prime real estate properties across the country. The value of … (1 comments)
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GET SET FOR ‘CELEBRITY’ REAL ESTATE - 04/02/08 12:44 AM
Would you like to have an office in Boris Becker Tower or rent Space in a business park named after Formula 1 world champion Micheal Schumacher? Or is another racer, Niki Lauda's Twin Tower more up your avenue?
What about matching your office address with your residential one by living in an apartment designed by Ivana Trump (the ex-wife of hotelier Donald Trump) or ace golfer Greg Norman?
Don't be surprised if this how some prime real estate is sold in times to come in the country. A trend that is making waves across the world of late ---especially in the United Arab … (1 comments)
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Land craft in Ghaziabad & Land Records Management System. - 04/01/08 12:22 AM
Land Developers are going to construct township in Ghaziabad named "Golf Link". This announcement was made recently on the occasion of Land craft open Golf tournament in Army golf club. During this tournament, Lt. General M.L. Naidu, Dy chief of Army and Land craft Director Manu Gupta gave a green signal to this project at NH-24. All modern facilities like condominium, commercial centre, school, hospital and swimming pool shall be provided in this project.
http://www.zameen-zaidad.com/
Spec system Ltd. has prepared new software to maintain all records related to land. It has been named as "Specadester land Records Management System". Spec System's MD KC … (0 comments)
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