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Saturday, May 31, 2014
Salman to start real estate business in Mumbai
After tasting immense success with his NGO 'Being Human', Salman Khan has now decided to go commercial with his next venture. Reports have it that he will be constructing a preview theatre and a shopping complex in Bandra.
His father Salim Khan recently revealed that they are planning to develop a property in Bandra where they will be making a commercial complex with many stores and showrooms, in addition to their own preview theatre. He said that this theatre will hold significant importance as there is no preview theatre in Bandra.
On the professional front, Salman Khan is presently busy with his film projects, which includes Sajid Nadiadwala's Kick and Sooraj Barjatya's Prem Ratan Dhan Payo.
with thanks : bollywoodhungama : LINK
Still Searching for a Dream Home?
CHENNAI: Looking for a home? The right piece of property from the right builder at the right location and at the right price? The CBRE Prop Fair 2014, a three-day mega property exhibition that began at the Chennai Trade Center on Friday, may be your ideal destination.
The fair has reputed property development firms, funding institutions and construction majors showcasing an exhaustive range of housing projects to suit all budgets.
The mega exhibition, organised by CBRE (the world’s largest commercial real estate services and investment firm) also provides expert advice, options and solutions to clients in the residential segment.
Over 80 of the city’s top real estate companies are participating and more than 250 housing projects are for the pick to house hunters.
The fair will be on from 10 am to 8 pm over the weekend.
with thanks : newindianexpress : LINK
Friday, May 30, 2014
Flats sold in 2005 in Sector 53 not delivered: Buyers
GURGAON: Homebuyers in Parsvanath Developers' flagship project in Gurgaon have accused the developer of delaying possession, alleging flats in four of 15 towers sold by the builder in 2005 have not been delivered till date though construction began in the 2009-10 financial year.
Located on the Main Sector Road in Sector 53, opposite the golf course, construction on the project, Exotica, started in 2005 and bookings started the same year. Exotica Condominium Owners' Association (ECOA) chief Amit Bansal told TOI on Thursday according to the sale deed, buyers were to get possession of the property within 36 months, allowing a maximum delay of a further six months. However, the ECOA alleged four towers (D4, D5, D6 and B1) in the residential project were yet to be delivered to the owners.
Earlier this month, the National Consumer Disputes Redressal Commission (NCDRC) had ruled against Parsvnath Developers in a similar case where the developer had delayed the possession of flats in its Parsvnath Privilege complex in Greater Noida. The NCDRC ordered the developer to return money with with 18% interest to buyers Subhash Mahajan and Abhishek Kumar Dwivedi, who had filed the petition for the delay. It also ordered compensation of Rs 7 lakh within 90 days to each of the buyers for causing them mental agony, failing which the rate of interest would rise to 24%.
Bansal said the ECOA will approach the NCDRC in a day or two. TOI contacted Parsvnath Developers, but a spokesperson for the company said it was not currently in a position to comment on the issue.
With Thanks : Times of India : LINK : for detailed news.
Wednesday, May 28, 2014
Tuesday, May 27, 2014
Bangalore is new hot spot for Dubai-based NRI property investments
Amongst UAE based Indians, Bangalore takes the second spot with 24.35 per cent preferring to invest in residential property in the coming months. Chennai and Pune take third place with almost equal percentage of people preferring these cities; Delhi assumes 4th position followed by Cochin, Navi Mumbai, Hyderabad, Gurgaon and Hyderabad.
"Bangalore's property market bucked the trend in other metros with many new launches, good demand and resilient prices. Sector experts predict that residential property in the city will remain a good bet for 2014, too. Bangalore is the third-largest real estate investment hub for High Net worth Individuals (HNIs) and tops the list in terms of investments from Non Resident Indians (NRIs) looking at settling down in India in the future. With a high net-worth individuals population of about 10,000 -- the third highest in the country after Delhi and Mumbai -- Bangalore's super-luxury segment is also worth watching", commented Sunil Jaiswal, CEO Sumansa Exhibitions, organisors of Indian Property Show, the most popular and much acclaimed show of Indian Properties in Dubai to be held from 12-14th June 2014 at Dubai World Trade Centre.
Key facts from the Survey:
31 per cent NRIs looking for properties in the price range of 76 lakhs and above, mid segment range of 26-75 lakhs at 52.57 per cent
Demand for high end segment (1 crore plus) at 16 per cent, Bangalore a leading real estate hub for luxury home investments.
Residential Apartments are all time favourite with 77.17 per cent interested in buying one, compared with villas or commercial property.
Highest number of buyers in the age group of 36-50 years at 67 per cent
72 per cent buyers aim for immediate purchase within next 6 months.
More than 14,700 NRIs from across UAE participated in the survey which was conducted to understand the reason of buying property in India, preferred cities for investments, type of property, time frame, budget and finances planned etc.
with thanks : cpifinancial : LINK
Sunday, May 25, 2014
Noida to get north India’s tallest residential tower
Noida: Real Estate player Brys Group plans to invest Rs.900 crore-Rs.1,000 crore over the next four years in a project that will be north India’s tallest residential tower, Rahul Gaur, chairman-cum- managing director of the company, said here on Saturday.
“We will invest around Rs.900 crore-Rs 1,000 crore and the project will be completed by 2018. We are financing the project with both bank and our finance,” he said.
Located in Noida, Sector 150, the residential tower named “Brys Buzz”, will be 81-storeyed with 111 elevators and a helipad on the top of the building.
“We have got all clearances like fire, environment, height, pollution, sanction plan. Arabian Construction Company is building this tower and seismic consideration is part of the building,” Gaur said.
“There will be 291 units in the building, out of which 65 units are already booked,” Navneet Gaur, director, Brys Group, said, adding that 80 percent of the bookings were domestic.
For international clients, the company has an office in Dubai and it is looking at clients from London, Los Angeles, Australia and Canada.
with thanks : MizoNews : LINK
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