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Sunday, June 22, 2014

House prices rise up to 7% in 12 major cities: National Housing Bank index

New Delhi  

The real estate market in Mumbai has shown a price increase after a gap of three quarters, according to the National Housing Bank's Residex survey, that tracks property values across Indian cities.

Mumbai saw an increase of 3.2 per cent, while Delhi recorded growth of 1.5 per cent in the January to March quarter this year. Both these cities are among the top real estate markets in the country. Delhi, however, has been showing an increase since the last two quarters.

House prices have increased by up to 7.1 per cent in 12 major cities, National Housing Bank said on Thursday.

Prices witnessed an increase ranging from 1.3 per cent in Bhopal to 7.1 per cent in Surat in comparison to that in the previous quarter of October-December, 2013, the quarterly update of NHB Residex said.

Prices, however, fell in 12 other cities, ranging from -0.6 per cent in Vijayawada to -5.7 per cent in Patna.

Indices for Faridabad and Kochi remained stagnant.

Ahmedabad saw a price rise of 6.1 per cent, Chennai 5.8 per cent and Kolkata 5.1 per cent.

Lucknow saw 4.9 per cent rise, Raipur 4.4 per cent, Mumbai 3.2 per cent, Nagpur 2.9 per cent, Dehradun 2.7 per cent, Hyderabad 2.2 per cent, Delhi 1.5 per cent and Bhopal 1.3 per cent.

Cities which witnessed a decline include, Jaipur (-3.8 per cent), Guwahati (-3.75 per cent), Bangalore (-3.6 per cent), Meerut (-3.5 per cent), Bhubaneswar (-3.47 per cent) and Ludhiana (-3.3 per cent).

Prices fell in Chandigarh by -2.7 per cent, Coimbatore (-1.7 per cent), Indore (-1.6 per cent), Pune (-1.3 per cent) and Vijayawada (-0.6 per cent).

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

Home buyers have high expectations from Narendra Modi govt: Study

India has seen a decisive electoral mandate after a long gap leading to formation of a stable government at the Centre. While the industrial sector is excited about the positive outcome, there is talk of improvement in sentiment in real estate as well.
Buyers who were till now sitting on the sidelines, hesitating to invest their money in property, waiting for the economy to revive, are now showing a turnaround in sentiment, shows a study by The research conducted last month involving 1,400 home buyers, in cities like Mumbai, Delhi NCR, Bangalore, Chennai, Pune, and more, indicated this trend - when asked whether the new government's arrival would have a positive impact on real estate sector, 80% of the respondents answered in affirmatively.
As far as a drop in property price and interest rates on home loans is concerned, while 26% of home buyers are expecting a drop of over 10% in coming 12 months, 19% of the buyers expect prices to go up. Expectations of low interest rates on home loans are relatively high with 68% of home buyers believe that it will fall from the present levels.
Presently interest rates range from 10-14% depending on the cost of the fund for lenders. It has been speculated that government will announce measures in the forthcoming Budget that it will lower the interest rate burden on prospective buyers. This can be done by either giving industry status to some identified segment within real estate or by including home loans in the priority sector lending for banks.
with thanks : Financial Express : LINK : for detailed news story with graphics.

Saturday, June 7, 2014

Another Web Portal by B S Vohra :  Please log on to view details of various Residential & Commercial Apartments ( with 12 % Assured returns ), Flats, Shops, Offices etc being offered by various Builders & developers.

Another Blog by B S Vohra is on top rankings now. Flourishing Property : is the Blog offering latest information on the Property trends in Indian market with the latest news. Please feel free to subscribe the blog if you have any plans to buy , sell, rent the property. Just log on to the blog. On the right side, there is a Tab asking to Subscribe Free News Letter. Just enter your mail ID & click on the subscribe button. You will be asked a code to type to check that you are human. After that you will get a verification mail. Just open the mail & click on the confirmation / verification link. Thats all.

dna property show begins in Pune city today

Friday, June 6, 2014

What A Government That Means Business Can Do For Real Estate

New Delhi: The dust has settled on the elections drama and the BJP is now firmly in the driver’s seat. By and large, this is being seen as the best possible news for the Indian real estate sector - and rightly so. Narendra Modi has the business mind-set, background and also determination which are called for to bring India’s entire economy back on track. What the real estate sector now awaits is his policy approach to the issue of housing in India.
Now, as the country stands poised on the verge of a major change in economic climate, it is a good time to reflect on why boosting the housing sector is so important for the country. Economists typically measure economic health on various different parameters, including Gross Domestic Product (GDP), the momentum of the manufacturing sector, inflation rate, etc. However, in India, the appetite for home ownership can and must be included as an important variable.
The health of the economy influences people’s desire to either invest or hold on to their money. Since real estate is an investable asset class, forward momentum in the real estate sector depends heavily on economic climate. In fact, real estate is also a priority investment route in India, because the desire to own homes is extremely high in this country. It is also an extremely important vertical from an economic viewpoint, because the transacting of real estate generates massive revenue for the government. This revenue can, in turn, be used for the creation of infrastructure, reducing national debt and generally uplifting the country.
These aspects are extremely important from the point of view of the country’s ability to attract more investments from abroad. The Modi government is quite aware of this fact, and - in the interest of overall economic growth - is likely to remove all or most of the policy roadblocks that have been preventing the velocity of the housing sector in India. 

with thanks : IndiaTV : LINK : for detailed news.

Thursday, June 5, 2014

World Environment Day ?

Worried over the Tag of the Most Polluted City of the world, we want to ask a question from the 'Central Pollution Control Board', that, " Is Delhi on the verge of a Respiratory / Cancerous Disaster  ? ".


B S Vohra
East Delhi RWAs Joint Front-Federation
Voice of Delhi RWAs

Many big names of NDA eye Lutyens Delhi as new home; new MPs scout around for accommodation

NEW DELHI: The sudden influx of new parliamentarians, some of them wealthy businessmen, has led to a steep rise in demand for pricey homes in the Capital's posh localities, especially the prized Lutyens Bungalow Zone. 

Realtors who broker such big deals say they have been getting frequent queries from representatives of wealthy MPs, especially from Andhra, Odisha and Maharashtra, engaged in businesses such as mines, infrastructure, hotels and transportation. They want a base in the Capi .. 

Plus, given the substantial mandate, many of them are looking at a stay of at least 10 years. "With Prime Minister Narendra Modi looking set for a long haul in Delhi, it seems many MPs from his party, BJP, have set out for a residency of at least a decade," one broker said. 

Many big names of NDA eye Lutyens Delhi as new home; new MPs scout around for accommodation

The representatives of a politician from south India surveyed LBZ properties about two weeks ago. "I tried to push for it, but they did not reveal the name of the politician," said a broker. 

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

Builders Go the Eco-friendly Way

KOCHI: The real estate sector in the city is out to find a balance between environmental issues and development and the green building concept is a step towards it. Though customers rarely give a thought to it, many builders have already switched over to green mode. Experts in the field point out that the state government will soon impose stringent guidelines regarding green building methods.
“Now builders are shifting to the green concept right from the designing of the project. Efficient use and conservation of water and energy, recycling of water, installation of solar panels and judicious use of natural light are the major highlights of the concept. The builders are already into rain water harvesting and sewage treatment,” said Najeeb Zackeria, managing director, Abad Builders.
Industry sources said Kochi is the ideal place to begin such a change as it is home to a number of real estate projects. A total of 700 projects with a total area of 774 lakh sqft are in place in the real estate sector in the city, which stretches from Aluva to West Kochi region.
As many as two lakh people reside in flats in the region and the density is more in Kakkanad, Aluva, Tripunithura and Edappally.
“Since a single domestic connection is being provided to an apartment project, the builders now rely on ground water and water supplied through tanker lorries.
Recycled water is used for gardening and washing of cars. More builders will soon shift to green building concept,” said  A C Joseph, director, AC CITY Builders and Developers.
As part of its social initiative, CREDAI Kochi is also planning to set up bio-medical and e-waste processing facilities.

with thanks : newindianexpress : LINK

Wednesday, June 4, 2014

Rent and property prices in Delhi set to soar as government prepares to revise circle rates to include 'luxury' category

Be prepared to shell out more for buying or renting property in the Capital. Property prices are set to reach new heights as the Delhi government is all set to revise circle rates across various categories. 

But the catch lies in the fact that some of the areas which fell in Category A earlier will now see a new classification – 'A1'. 

"Colonies and areas with similar market rates will see re-categorisation now. Right now, there is still some ambiguity between some areas in Categories C and D as well as A and B. 

Circle rates: With the new revision, property prices in localities like Golf Links will shoot up
Circle rates: With the new revision, property prices in localities like Golf Links will shoot up

"So, the classification will be clearer this time," a senior Delhi government official said. 

At present, the colonies that fall under Category A such as Vasant Vihar, Friends Colony, Shanti Niketan, and Maharani Bagh pay uniform circle rates. 
The circle rate is the minimum valuation at which properties have to be registered with the government.

with thanks : Daily Mail : LINK : for detailed news.

Vikram Bakshi's Noida plot seized

NEW DELHI: The Housing and Urban Development Corporation (HUDCO) on Tuesday seized an 18,600 square metres property in Noida, belonging to a flagship company of Vikram Bakshi, who is locked in a bitter takeover battle with McDonald's for control of Connaught Plaza Restaurants (CPRL).

Bakshi's company Ascot Hotels & Resorts failed to repay a loan of Rs 80 crore to the government-backed lender, HUDCO officials alleged. According to HUDCO officials, a term loan of Rs 80 crore was sanctioned to Ascot Hotels & Resorts with Bakshi and his wife as guarantors for the construction of a club-cum-banquet hall at sector 62 in Noida.

Subsequently, HUDCO disbursed Rs 62.38 crore. Notices issued by HUDCO to the borrowers/guarantors state that the latter defaulted persistently even after assuring to repay. Bakshi's company said they have been repaying the loan and said HUDCO's stance had hurt the project.

with thanks : Times of India : LINK : for detailed news.

4 mistakes you must avoid as a home buyer

Buying a home is big decision financially and emotionally. At time the emotions and excitement overtakes the sensible decision making process and we make mistakes. Knowing what to expect goes a long way in helping to avoid mistakes.
Supriya and Anmol are newlyweds and are on the lookout for a dream home. The young couple have a precise picture of what they are looking for and have a few lakhs saved up for a down payment – for the rest they plan on taking a home loan. They have been asking family and friends for advice and researching online too. They now think they have enough information to go ahead and apply for the home loan. What they do not realise is that there are some rookie mistakes they are making which will prove to be quite expensive.

Why you should pre pay your home loan
Not knowing your Cibil credit score
Your Cibil credit score is the basis on which the bank will be making its lending decisions. Seeing the view from the other end of the spectrum can help you realise the credit mistakes you have made in the past and you could take the time to correct them before applying for a home loan. A CIBIL score of 750 and above is ideal from the viewpoint of a lender.
Overstretching your budget

Often your dream home might not be one you can actually afford even with the aid of a home loan. While the bank might be willing to lend the required amount to you, the fact remains that you have to repay the loan via EMIs month after month. For a larger loan you will either have a higher EMI or a longer period. A higher EMI is a better option as you pay a lower interest over the years but it takes away a large portion of your disposable income month after month leaving little space for luxuries or unexpected expenses. It could be a path leading to temporary high interest loans and defaults – ending up with a poorer credit score.

with thanks : Yahoo News : LINK : for detailed news.

Tuesday, June 3, 2014

Earth Titanium : Details on

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12% Assured returns on Commercial property. : A Property Web Portal

Flourishing Property is a Real Estate portal, about Property in India. It includes a Directory of Real Estate industry i.e. details of Real estate companies in india  such as  Builders directory, Directory of Real estate agents and a Directory of Property dealers. Builders & Developers may feel free to mail us details of their New projects in any part of India.
Builders Associations, Home builders associations, Associations of Real estate agents & property dealers associations from any part of India, Overseas, may contact us for a Free Banner listing on our web portal for any of the Events & Exhibitions related to Buildings & Constructions.
Flourishing Property Free News Letter offers latest news related to the Real estate, Property, Infrastructure, Rules & Regulations, market trends, etc. etc. Please log on to our Flourishing Property Blog. You can subscribe our Real Estate News Letter absolutely Free.
Register with us for any of your requirements i.e. a Commercial or Residential property. It may be a New house, an Apartment, Kothi, Bungalow, Flat, Farm house, Pent house or an Office & Factory. Collaboration agreement of your dream home can be arranged in Delhi with a reliable builder, at most suitable terms. Please feel free to contact us any time.

Please log on to :

Home Smart

It is said that 'a woman makes a house a home'. While women make most of the decisions regarding their homes in their various avatars as wives, daughters, etc., the one role that is less heard of in the society is that of woman real estate broker. So if you are a woman armed with an MBA coupled with a commerce or law degree and are looking to set up a venture, then real estate broking could be your calling.
Most realty professionals believe that the fairer sex has an edge over men where selling properties are concerned. "Women have a flair for looking into the nitty grittes of a property. The natural instinct aids us in helping our clients in picking up the right home," explains Shalini Kumar, partner, Sq.Ft. Realtors, who entered the profession by chance.
"Women are excellent at managing egos,don't we do it at home all the time?" quips Sneha Pathak, another broker and member of South MetroCity Association of Realtors (SMART). Pathak entered the profession 14 years ago, when "only three other women where in the industry". Even today the male to female ratio in the industry is quite skewed, says Pathak. "Among the 30 odd members in SMART only seven are women."
Raj Shah, owner of Square Feet Realty Consultants, says he wants more women to be a part of this industry. "They are naturally able to connect on issues of family details with regards to children etc..when this is used from a broker perpective it helps in zeroing down on the appropriate property," says Shah.
with thanks : DNA : LINK : for detailed news.

Residents' association protests land price hike

NOIDA: The Federation of Noida Residents' Welfare Associations (FONRWA) on Monday protested the 10.5% hike in residential land prices by the Noida Authority.

N P Singh, president of FONRWA, said, "The land in Noida is either sold out or belongs to farmers. So what land does the authority propose to increase the prices of? When they don't have land to sell or buy, they have no right to increase the rates. It's just a ploy to make Noida an expensive city for homebuyers and make money at the expense of its residents," said Singh.

According to Singh, the proposed increase will also affect transfer, registry and stamp duty charges, burning a bigger hole in the homebuyer's pocket. "The common man is already burdened by buying a residential property. How will he arrange the funds to meet such an increase in property prices?" asked Singh.

His views were echoed by Noida industries since the authority also increased the rates of industrial land. "We are certainly not happy with the hike in industrial land rates," said Vipin Malhan president, Noida Entrepreneurs' Association.

with thanks : Times of India : LINK : for detailed news.

Buying a house in Noida becomes costlier affair as land allotment rate goes up

Buying a house or any residential property in Noida will now be a costlier affair, as the Noida and Yamuna Expressway authorities decided to hike the land allotment rate up to 10-12% at a board meeting on Monday.
"We have increased the land allotment rate up to 10% in Noida in all categories, except for commercial properties. Rates of commercial property in Noida will not be increased because we want to correct the rates.
"Land allotment rates will be hiked up to 12% in Yamuna expressway area. The rates are unchanged in Greater Noida because they saw an increase in February this year," said Rama Raman, chairperson of Noida, Greater Noida and Yamuna Expressway authorities.    
The new rates came into effect on Monday.
According to officials, land allotment rates will be increased in all categories - including residential, group housing, institutional and industrial, while commercial plots will not see any increase.

"The hike was unavoidable because of the prevailing financial circumstances," said a senior Noida authority official.
The Noida authority had increased the rates in May, 2013, by up to 9-12 % on the previous occasion.

with thanks : Hindustan Times : LINK : for detailed news.

New Noida Building Norms, BOON for Buyers : Hindustan Times

Sunday, June 1, 2014

Is Apartment Living Right for Your Retirement ?

Apartment Buildings Real Estate
When Rita and Craig Christensen decided that it was time to downsize, they didn't sell their single-family home and use the money to buy into a seniors housing facility or purchase a condo. They instead chose to rent in a new apartment development in downtown Wheaton, Illinois, a western suburb of Chicago.
The Christensens, who are about seven years from retiring, don't plan on moving from their apartment unit once they leave the workforce. There are too many things to do in their new neighborhood.

The couple's apartment sits a three-block walk from a train that connects to downtown Chicago. It's across the street from Wheaton's public library. A wine bar is a block away, as are shops and restaurants. There's even a farmers market every Saturday morning that the couple can see as they stand on their balcony.

"We really take advantage of what is going on downtown," Rita Christensen says. "This will be our first summer living here. It really is an ideal location. There's even a miniature-golf course across the street that my grandson likes."

The Virtues of Apartments for Retirees
The Christensens aren't alone. Urban apartment living is a real option for seniors who want to ditch their snow shovels and lawnmowers when they retire and take advantage of all that cities can offer. These retirees may want to be able to walk to the movies, or take public transportation to evening dinners without having to drive busy suburban roads.
with thanks : foxbusiness : LINK : for detailed news story.

Manteca’s new homes must save water

Editor, Manteca Bulletin,

More home building is being proposed. The Bulletin informed us recently that our water table is receding at a rapid rate, due to drought conditions that have prevailed for a number of years. It is beyond any comprehensible explanation as to why this city would approve more homes while we lack sufficient water for these homes.

The approval of more homes will drastically affect this city’s water supply. I remind anyone reading this, that it’s your water supply I am talking about protecting as well. I am 77 years old and I have been a resident of California for almost 58 years. I have been through many droughts in California. I attended a council meeting that featured a hydro engineer that was delivering results of his study on our water supply. He told the council that he could guarantee a plentiful supply of water for the next 20 years — over five years has transpired since that report was given. This was based on the growth rate at that time. It is apparent to me that this engineer’s report was inaccurate for our wells are receding rapidly.

Here is something for the city to consider for new homes: Require developers to contribute to the water conservation effort as well. I suggest a two-part plan for all new homes to be more compliant to water conservation. All new homes should be equipped with instant on demand water heaters. Currently every home in this valley is equipped with a water heater that is generally has a 50-gallon capacity. Every time the water goes below the set temperature, it draws more water in that needs heating. The instant on-demand heater comes on when the demand is needed and shuts off when it’s not.

This eliminates the huge demand of storing water and constantly pulling from the water source. The second suggestion was, to reroute water pipes through insulated walls, to avoid the rapid cooling effect that occurs by running plumbing through concrete. This would retain residual heating in water for a greater period of time. Every person owning a home has experienced long waiting periods for water.

Tank-less water heaters have been the principal appliance in Europe for years. It is a highly efficient alternative to the wasteful tank system.

with thanks : Fleener J. Richards, Manteca : LINK