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Wednesday, April 30, 2014

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Ability of Indian companies to generate profit declines

In FY13, every rupee of investment yielded only  Rs 1.06 worth of revenue for India Inc, down from Rs 1.20 in March 2008 at the height of the economic boom. The bad news doesn’t end only at the steady decline in revenue yield for companies, led by mainly those in construction and infra, realty, metals and mining, telecom and the power sector. The infrastructure and real estate boom proved too costly for Indian companies.

The ability of companies to generate profits has also declined, with return on capital employed declining to 11.2 per cent in 2012-13 from around 18.5 per cent in 2007-08. The same is the story on other financial parameters. Operating margin declined by 430 basis points, while return on net worth nearly halved to 12 per cent in FY13, from 22.7 per cent in FY08.

The analysis is based on 621 companies that are part of either the BSE 500 index or BSE Midcap or BSE Smallcap. They cover 90 per cent of all non-banking, non-financial companies by market capitalisation. The assets include net worth and borrowings comprising deferred tax liabilities and other non-debt liabilities.

In the past five years, the combined revenues for the sample of companies nearly doubled to Rs 47.9 lakh crore at the end of FY13 from Rs 22.5 lakh crore in FY08, growing at a compounded annual rate (CAGR) of 16.3 per cent. Their assets during the period grew at a CAGR of 18.6 per cent and expanded by 2.3x to Rs 46.4 lakh crore at the end of FY13. The surge was largely funded through borrowings, with net debt (excluding cash & equivalent) growing at a CAGR of 35 per cent during the period and nearly quadrupling during the period.

with thanks : Business Standard : LINK : for detailed news.

China city loosens property rules amid market cooling

(Reuters) - A Chinese city has slightly loosened regulations on house buying as it looks to boost the local economy, the latest sign of the impact of a cooling in property prices on the broader economy.
House prices in China rose at double-digit rates in most cities last year, but the pace of gains have slowed since the start of the year as central government measures to rein in price gains took effect.
Residents of an economic zone near the city of Nanning in the southern Guangxi province will be given the right to buy property in the city, according to an article on the official Xinhua news agency's affiliated XinhuaNet website.
The article, citing a document from the Nanning city housing department, said residents of the zone would have the same rights to buy property as city dwellers.
An official of the housing department told Reuters that the document was minutes from a recent meeting, but could not confirm the content.

As prices cool, speculation about a relaxation of policy has swirled in some markets.
with thanks : REUTERS : LINK : for detailed news.

Tuesday, April 29, 2014

Kudos! Good venture!! Excellent idea!!! More timely and expected to be helpful guide. Useful tips and guidance may also be extended. 

T.K. Balu

New home launches up by 43% in Jan-March: Cushman

NEW DELHI: Over 55,000 housing units were launched in January-March period in top eight cities of the country, up by 43 per cent from the previous quarter. 

Global property consultant Cushman & Wakefield said in its latest report that 55,438 units were launched in the first quarter of 2014 calendar year in the eight major cities of the country against 38,898 units in the previous quarter. 

These eight cities are -- Delhi-NCR, Mumbai, Chennai, Kolkata, Bangalore, Hyderabad,  Pune and Ahmedabad. 

"There has been a 43 per cent increase in Q1 2014 new residential unit launches from the previous quarter. The total estimated unit launches were recorded at 55,500 units across major eight cities of India with Bengaluru recording the largest number of units launched, an increase of 22 per cent from the previous quarter," C&W said in a statement. 

Mumbai and Bengaluru together constituted around 50 per cent of the total unit launches in Q1 2014. 

Barring NCR and Ahmedabad, all other cities saw a rise in total units launched in Q1 2014 over the previous quarter. NCR saw the sharpest decline in launches of new residential units with a drop of 18 per cent over the previous quarter. 

With thanks : Economic Times : LINK : for detailed news.

Monday, April 28, 2014

Earth Infrastructure Ltd projects in Noida, Greater Noida, Gurgaon !

Business Associates :
Vohra Real Estate Consultants

Godrej Properties looking to enter Noida real estate mkt

The real estate arm of the Godrej group is developing 3 premium housing projects in Gurgaon in joint venture with land owners and has already tied up for a residential project in Okhla, Delhi.

Godrej Properties has a strategy to develop real estate projects through joint ventures with land owners.

"Mumbai, Delhi-NCR and Bangalore are our major markets. We are looking at more projects in Delhi-NCR," Godrej Properties Managing Director and CEO Pirojsha Godrej told PTI when asked about expansion plan in the national capital region.

Godrej Properties Ltd is keen on entering the Noida real estate market and is looking for a partner to develop a housing project, according to a top official at the company.

On plans to enter Noida market, he said: "We do not have presence in Noida which is a key market in Delhi-NCR. We are looking to add projects in this market as well."

The company is in talks with a few potential partners for developing a housing project in Noida, he said, adding "it is a good time to add new projects as real estate market is facing slowdown".

Asked as to when the company would launch Delhi project, Godrej said: "It will be in next fiscal. We are waiting for the approvals to start the project."

In June 2013, Godrej Properties had announced its foray into the Delhi property market by signing a development agreement with Southend Infrastructure for 5-acre luxury group housing project at Okhla.

The company is performing well despite the slowdown in real estate market, Godrej said, adding that it will launch more projects than last fiscal when it launched 10 new projects or new phase of existing projects.

He said the company will continue with the strategy to add projects through JVs and won't opt for outright land purchase.

On the overall realty market, he said: "Residential is bit slow at the moment. NCR in the last six month was the slowest."

with thanks : Business Standard : LINK : for detailed news.

Sunday, April 27, 2014

Mary-Kate Olsen buys $13.5 million home

New York: Fashion designer Mary-Kate Olsen's search for a private property has reportedly come to an end with a purchase of a house worth $13.5 million.
The 27-year-old is said to have purchased the property with her fiance Olivier Sarkozy in Turtle Bay, Manhattan, reports
According to the New York Post newspaper's Page Six column, the couple has settled on a mansion with a private garage, a ballroom, five bedrooms, an elevator and artist's studio. It is thought to be ideal for the actress-turned-fashion designer, following recent reports she was keen on a more private, secluded home with her fiance.
She was unhappy with the East 10th Street townhouse she and Olivier bought in New York City in 2012 because it didn't feel secure enough, and sold the property despite never moving in.
with thanks : DNA : LINK

Friday, April 25, 2014

NRIs : Subscribe for the latest information of real estate for Investments in India !

Please subscribe the Flourishing Property News Letter ( absolutely Free ) with the latest news from the Real Estate sector. Please log on to our Flourishing Property Web Blog :  On the right side, there is a button : Subscribe News Letter. Please fill your ID & click OK. You will be given a code to Enter & click. After that, you will get a mail in your inbox for verification. Plz open the mail & click on the Verification link & you are subscribed. Enjoy reading the latest news from the real estate sector.

Best regards,

B S Vohra

Post-Election Expectations of the Realty Sector from the Government !

with thanks : Property Panorama April 2014 

Citizen Matters releases latest guidebook: Buying Property in Bengaluru

It is everyone's dream to own a home and live in it. In rapidly urbanising Indian cities, especially Bangalore, without the right homework, chasing that dream can result in far more stress than expected.
A range of documents is needed at various stages to proceed with a property deal. Regulations, rules, documents, and a maze of procedures can stump you or complicate matters if you are not well prepared. Many of us are unfamiliar with what is required until we actually face such a situation. We are also prone to commit mistakes if we do not ask the right questions at the right time.
Having a lawyer does help, but the more aware we are as citizens and consumers, the better it is, given the lakhs and crores of rupees involved in buying, selling, or investing in property.
Many of us are also investing in properties in the city from outside through our representatives and relatives. Even in such cases, to make good on our investments, it is best to be aware of the relevant details ahead ofThe interconnection between politics and corruption is widespread throughout the world, as you will know. In India, land management is at the centre of much of the obscurity, inefficiency, and corruption we see in government services and approvals to citizens and real estate developers alike. There are many cases of fraud which come to light from time to time.

with thanks : citizenmatters : LINK

Man duped senior citizen of Rs 1.35 lakh by selling him already sold property

Nagpur News : 35-year-old Rajesh Sonkusre, who claimed him to be owner of Ohm Namah Shivay Housing agency, duped a senior citizen by allegedly selling him already sold property with bogus land papers.  Accused Sonkusre, a resident of Vajpayee Nagar, Kalamna, had even taken Rs 1.35 lakh from the complainant.
Indora resident Shalikram Chimankar, 62, claimed in his police complaint that Sonkusre had told him owner of a private housing agency and had finalised a deal of selling him two plots. Later Chimankar learnt that Sonkusre had already sold those two plots to other buyer and still has finalised the deal with him.
Chimankar told police that Sonkusre had even handed over him bogus documents of those plots and took the cash Rs 1.35 lakh. Chimankari immediately reported the matter to police after he learnt about the fraud. Police are yet to arrest Sonkusre.

with thanks : Nagpur Times : LINK

Thursday, April 24, 2014

Flourishing Property News Letter : Free Subscription : Subscribe it now !

Dear Sir,

Please subscribe the Flourishing Property News Letter ( absolutely Free ) with the latest news from the Real Estate sector. Please log on to our Flourishing Property Web Blog :  On the right side, there is a button : Subscribe News Letter. Please fill your ID & click OK. You will be given a code to Enter & click. After that, you will get a mail in your inbox for verification. Plz open the mail & click on the Verification link & you are subscribed. Enjoy reading the latest news from the real estate sector.

Best regards
B S Vohra

Govt Must Focus on Infrastructure'

Real estate body CREDAI on Wednesday said that a new stable government at the Centre would need to focus on infrastructure development in its budget as opposed to the people-oriented budget that was presented this year.
In a press conference to announce their realty expo to be held on April 26 and 27, state CREDAI president R Nagaraj said, “The real estate sector supports close to 220 different types of industry. If the new government supports this sector, GDPgrowth can shoot up from the current 5 per cent approximate.” He added that the association expected the budget by the new government to be different.
“After the IT boom in the city, automobile and engineering companies are the next big investors. We see an increase in jobs and consequently in demand for housing as well,” Nagaraj said. The expo will be held at the State Bank of India campus on St Mark’s Road. Around 90 builders are expected to showcase their projects at the expo.

with thanks : newindianexpress : LINK

New President for CREDAI Chennai

The Confederation of Real Estate Developers’ Association of India’s (CREDAI) Chennai chapter inducted Ajit Kumar Chordia as its new president amid much fanfare at Hotel Hyatt Regency here, in the presence of CREDAI’s India president Shekhar Reddy, recently.
Speaking at the induction ceremony, Reddy congratulated the newly-elected president and the team saying that the conclusion of the elections would give a more focused direction to the real estate industry.
“We anticipate that the new government will give a major thrust to the realty sector. The best way to do it is to declare it as an infrastructure sector. We also expect that the government will institute a simple, transparent, fast, online approval mechanism. The system has been tardy and tortuous making the real estate projects costly as delays cost enormously to the ultimate consumer,” he said.
Meanwhile, the newly inducted president said there were several challenges that the industry itself had to face in the coming months.
He said the real estate business had reached a level of maturity and size, and needed  to keep pace with technology and hone the skills of peers to ensuring a competitive edge.

with thanks : new indianexpress : LINK

Indiabulls Real Estate standalone quarterly earnings fall 19.78%

Indiabulls Real estate announced a sharp drop in standalone net profit for the quarter ended March 2014.  During the quarter, the profit of the company declined 19.78% to Rs 416.72 million from Rs 519.45 million  in the same quarter previous year.

Net sales for the quarter declined 20.54% to Rs 3,276.07 million, compared with Rs 4,122.97 million for the prior year period.

Earnings per share for the quarter stood at Rs 0.98, registering 16.24% decline over previous year period.

Quarterly Results - Standalone (Rs in mn)
As atMar - 14Mar - 13%Change
Net Sales3,276.074,122.97(20.54)
Net Profit416.72519.45(19.78)
Basic EPS0.981.17(16.24)

Shares of the company gained Rs 1.45, or 2.36%, to trade at  Rs 63.00.  The total volume of shares traded  was  1,347,078 at the BSE (3.30 p.m., Wednesday).

Indiabulls Real Estate Limited   (Q,N,C,F)*

with thanks : myiris : LINK

Aishwarya Rai Bachchan among UNHWI investors to secure UAE property

Aishwarya Rai Bachchan is one of many ultra-high-net-worth individuals (UNHWI) who are securing property in Dubai, it has been revealed.
Reports are that about 26 percent of the private wealth of the UHNWI's is spent on properties in the Middle East, and which includes film stars from India like Aishwarya Rai Bachchan and Shah Rukh Khan, Gulf News reported.
According to new analysis from international real estate adviser Savills, the worth of UNHWI's property holdings in Dubai was about to raise as the rich rushed to claim real estate in the city, and now accounts for around a fifth of the invested wealth of the nearly 200,000 UHNWIs in the world.
The average value of UHNWI real estate holdings in the city is 8 million dollars, as compared compared to 32 million dollars in Hong Kong, 28 million dollars in London and 9 million dollars in New York.

with thanks : Business Standard : LINK

Wednesday, April 23, 2014

Flourishing Property Online News Letter :

Flourishing real estate & property for your Flourishing future. Read the latest news on Real Estate on this Free News Letter. Plz Subscribe it now ! 

Child-friendly homes coming soon in Kharadi

Pune: One of the leading real estate developers in the city, Gera Development, has launched child-centric homes called 'song of joy', which will offer children-friendly homes in the Kharadi area. Residents can pick from range of academic and recreational options for music, dance, chess, tennis, cricket and personality development.

In addition to these, the developers have also made provisions for an Art studio, Gurukul, dance studio, yoga room, gaming room, swimming pool, skate board park. The project will be launched at the end of May, and will be ready by August 2016. Cost of property will start at Rs 6000 per square metre.

"We have realised that now-a-days, families are usually very ambitious when it comes to their child's future. But if both the parents are working, they can't pay much attention to their kid's development. Keeping this in mind, we have attempted to provide homes with convenience, safety and development of their children all at one place." said Rohit Gera, managing director of Gera Developments.

with thanks : DNAINDIA : LINK

30 Indian builders to showcase properties in US

Thiruvananthapuram: A 15-day property show is being held in the US at which 30 builders  from India will showcase  their latest projects.A real estate business group based in the US told IANS over phone that the eighth annual edition of the India Property Show would be held in Edison, New Jersey, Houston, Sunnyvale and Seattle from May 31 to June 15.

Riya Sunny of the Revista Global group, said: “Builders are coming in from across India. We help them sell their properties  in the US and the Middle east  by organising property shows. Unlike earlier years, we expect to get a few builders from Kerala.”

with thanks : MIZONEWS : LINK

Delhi ranked 21st in shopping centre development

Delhi-NCR ranks 21st in the global list of cities with the maximum shopping centre space under construction in 2014, according to property consultant CBRE.
India continues to see a wave of new shopping mall development despite some developers pushing back completion dates due to financing issues, CBRE said in a statement.
"New Delhi is ranked 21, Hyderabad 23, and Bangalore 31, among global cities with the maximum shopping centre space under construction in 2014," the consultant said quoting from CBRE Research's latest report 'Global Viewpoint'.
It said 39 million sq m etre of shopping space is under construction across world's major cities and out of that India accounts for nearly 1.5 million sq metre.
Around 5,00,000 sq metre of new retail space is under construction in New Delhi. The largest two projects, DLF Mall of India at Noida (204,385 sq metre) and Logix City Centre Mall (1,11,483 sq metre) are both located in Noida.

with thanks : financialexpress : LINK : for detailed news.

Tuesday, April 22, 2014

Earth Infra on Earth Day !

with thanks : Hindustan Times

Indians top foreign investors list in Dubai

According to Dubai Land Department (DLD), 111 nationalities secured property deals in the first quarter of 2014.
Indians were at the top spot for international investment, both in terms of the number of investors (2,414) and the amount of expenditure (USD 1.6 billion or 5.895 billion dirhams), according to the data.
British ranked the second, making 3.145 billion dirham’s worth of investments, followed by Pakistanis with investments totaling 2.410 billion dirham’s.
Emiratis were ranked as the highest among all investors in terms of the value of investments, said Sultan Butti Bin Mejren, director general of DLD.
"Diverse array of nationalities putting their money into Dubai's property sector confirms the city's attraction for real estate investment, especially when compared to other property markets in the region," he said.
According to DLD, real estate sector's investments totalled USD 9.5 billion during the first quarter of 2014, which represents a 57 per cent increase over the same period last year.

with thanks : Jagran Post : LINK : for detailed news.

Monday, April 21, 2014

‘Recon 2014’ Real Estate Meeting from May 2

‘Recon 2014’, Kerala’s first real estate convention being organised by the Kerala Realtors Association (KRA), along with the National Association of Realtors, will be held at Dream Hotel, Kochi, from May 2 to 4. The meet is intended to be a reality check with the industry covering all the stakeholders across the real estate landscape.
Other than connecting major players from different segments, the  meet is expected to brainstorm about different issues facing the industry. The meet assumes significance as it comes in the wake of the industry facing a shakeout, thanks to the overall slowdown. The meet is also expected to take stock of the price situation prevailing in the state. Industry insiders had cited the ruling ‘high prices’ as one of the major reasons for the woes currently facing industry.
The industry has been feeling the need to launch an index tracking the real estate prices on  the lines of S&P Case Shiller 20-City Composite Home Price Index, which tracks the price movements in the 20-major metropolitan cities in the US.
The National Housing Bank had launched NHB Residex way back in 2007. Its coverage has been confined to major cities such as Bangalore, Bhopal, Delhi, Kolkata and Mumbai.

with thanks : newindianexpress : Link : for detailed news.

Dubai faces 500,000 construction workers' shortage

Dubai: With the real estate sector in the Gulf Arab emirate Dubai showing no let-up in expanding, the construction sector here is all set to witness a shortage of 500,000 workers by 2015, a media report said here Saturday.

According to a survey initiated by the Dubai international academic city (DIAC) and conducted by consultancy Deloitte, construction firms and developers face a shortfall of 500,000 workers across all career levels and divisions as massive public and private projects fuel an unprecedented real estate boom in the sheikhdom, reported Xinhua citing the Gulf News daily.

The study showed that building and construction project management skills are most lacking among senior levels, according to 43 percent of the companies surveyed.

Likewise, 54 percent of the companies believe that design engineering skills are lacking among mid-level professionals, followed by civil engineering skills, said the report.

Dubai's winning bid to host the World Expo in 2020 also boosted the construction sector, with average rents having risen by 23 percent during the first quarter of 2014, according to real estate consultancy Jones Lang LaSalle.

with thanks : IANS : Zee News : LINK : for detailed news.

Bikini-Clad Models As Props In China's Real Estate Market

By Michelle FlorCruz - Every month, the agents at a small real estate office in Ningbo, China -- a booming coastal city south of Shanghai -- gather to discuss their so-called “trouble projects,” meaning developments needing an extra push to fill vacancies.  

Bikini-Clad Models As Props In China's Real Estate Market

In Ningbo, as in many medium-sized Chinese cities, more and more projects are looking like trouble, threatening the health of developers, the banks that have financed their undertakings and, perhaps, the state of the economy in the world's most populous nation. The situation has gotten so intense that real estate agents are going to extraordinary lengths to persuade people to buy.

with thanks : investing : LINK : for detailed news.

Chinese real estate hit by slowest growth in six quarters

China's growth is down to the weakest pace in six quarters, pulling down property construction, as leaders came under pressure to stick to their commitment to keep credit reined in. Meanwhile risks of a deeper slowdown increased.

Gross domestic product was up 7.4 per cent in the January-to-March period from a year earlier, according to the statistics bureau as  against the 7.3 per cent median estimate in a Bloomberg News survey of analysts. Industrial production as also fixed-asset investment lagged projections.

with thanks : domain-b : link : for detailed news.

Office space leasing jumps three-fold in Delhi-NCR: C&W

New Delhi: Office space leasing in the Delhi-NCR region jumped more than three-fold to nearly 1.5 million sq ft during the January-March period, mainly due to higher absorption by IT firms in Gurgaon, says a report by property consultant Cushman & Wakefield.

Net absorption during the first quarter of this calendar year rose sharply to 1.48 million sq ft from 4,63,900 sq ft in the corresponding period of the previous year.

"The net absorption was recorded at 1.48 million sq ft, significantly higher compared to the same quarter last year; driven by IT-ITeS occupiers, followed by consulting and engineering," C&W said in latest quarterly office market report (Jan?Mar 2014).

Net absorption does not include lease renewals and relocations to same sized office spaces.

The majority of the net absorption was observed in the sub-markets of Gurgaon, followed by Delhi. Additionally, nearly1 million sq ft of space was pre-committed in the first quarter of 2014 by IT-ITeS and BFSI (banking, financial services and insurance) occupiers in Gurgaon.

However, supply of office space in the NCR region dropped by 22 percent to 1.72 million sq ft.

"The weighted average rental values across sub-markets weakened marginally, primarily due to increased availabilities in properties quoting lower rents," C&W said.

PTI : 
with thanks : Zee News : LINK : for detailed news.