Archive for December, 2011

Real Estate 2012: Predictions & Outlook

ET: Why the property prices never fell in cities

Hot Indian property destinations for NRIs in 2012

Deepa Venkatraghvan Dec 23, 2011, 08.20PM IST

The Non Resident Indian (NRI) might as well remember 2011 as the year of the 'lazy investor'. For NRIs have gained 18% since August 2011, simply by remitting money to India; no effort at all. But as we approach 2012, NRIs must take stock of how best to use their remittances. The traditional favorite has always been real estate. But in this volatile market, how great an investment is it? Is this a good time to buy property in India? What kind of property is a good bet? Let's try to find answers.

Commercial property Read more…

Mumbai vs Delhi: Which is better city?

Planned cities: Why Delhi is hotter property than Mumbai

by Sunainaa Chadha Jul 2, 2012

Despite the global economic slowdown, strong demand from the IT space as against financial services has helped NCR (National Capital Region) overtake Mumbai as the largest commercial market in India with nearly 85 million (8.5 crore) square feet of office space under operation, of which Gurgaon and Noida have contributed nearly 89 percent  of the upcoming office supply, a latest report by property research firm Knight Frank pointed out.

So what is it that makes Delhi more attractive than Mumbai for corporates?

Improved infrastructure, open spaces, good transport connection, low-cost housing , a metropolitan lifestyle in areas around offices and cheaper land.

Good infra and connectivity key to rise in office absorption in Delhi

Delhi commercial realty is completely IT-driven, which are not only expanding but also consolidating operations  by renting large spaces in areas like Gurgaon and New Delhi,  Santosh Kumar, CEO Operations at realty firm Jones Land LaSalle India told Firstpost. Gurgaon’s biggest advantage is its proximity to the airport, smooth connectivity to New Delhi and land costing between Rs 65-100 a square foot, which is what IT companies can afford, he explained.

Delhi commercial realty is completely IT-driven, which are not only expanding but also consolidating operations by renting large spaces in areas like Gurgaon and New Delhi

Moreover, apart from Gurgaon, companies are seen shifting office space to Noida too. This is because rentals are nearly 50 percent lower in Greater Noida compared to Gurgaon. This has been the biggest pull factor for companies looking to set up big campuses here. “Good connectivity, planned infrastructure and ample affordable housing options for employees are some of the key contributing factors to the growing commercial developments in Greater Noida. The proposed metro will further boost the real estate development in this region,” said Samanthak Das, national research head at Knight Frank in its latest report.

Cheaper land, easier payment options for builders in Noida

Secondly, land in Noida is government-controlled which is then auctioned off for construction. This makes it easier for developers too as they can pay for the auctioned land in installments, said Kumar.

While Capgemini, Ingersoll Rand took up place in IT SEZ buildings in Gurgaon, Google signed up a deal in a non IT stand alone building in Gurgaon. Hewitt and United Health Group preferred Noida over other micro-markets.

Mumbai, on the other hand is an expanding city with diminishing space.  As an Outlook report pointed out “MMRDA built the Bandra Kurla Complex but did not factor in transport connections. Planning when it happened, was piecemeal, sectoral and driven by vested interests.”

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NRIs Investment in Property Appreciates as Rupee Depreciates

Residential market will remain cautious over short-term: Ravi Saund
Source: IRIS (12-JAN-12)

In an exclusive interview with Myiris.com, Ravi Saund , chief operating officer, CHD Developers, says “Real estate segment has become a lucrative investment option for NRIs.“

While the real estate prices in the world are sinking, the real estate investment in India is ringing. What factors NRIs should consider before investing in Indian real estate?

With the depreciating rupee, the Indian Real estate segment has become a lucrative investment option for NRI`s.  There are several key aspects that a buyer should consider while making his investment decision. These aspects fundamentally remain the same for both residential and commercial projects. If the project has to be evaluated for investment I would lay down dimensions on which a buyer should think.

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Ghaziabad Metro Ph II: Dilshad Garden to Arthala via Mohan Nagar status

Ghaziabad-Metro-Vaishali-Arthala-New-Route

Map-Ghaziabad Metro Ph 2: Dilshad Garden-Mohan Nagar-Arthala

Dilshad Garden-Arthala Metro Cleared

UP govt clears budget for Metro from Dilshad Garden to New Bus Terminal in Ghaziabad

IANS  Lucknow, March 1, 2013 | UPDATED 17:42 IST

For the millions who live in Ghaziabad, adjoining the national capital, the wait for a Metro ride into New Delhi just got shorter – the enhanced cost of the second phase of the Metro project has been cleared by Uttar Pradesh government.

Sources in the state government Friday confirmed that the state cabinet has given a green signal to "additional funds", superseding the earlier allocation for the second phase of the Metro rail project.

The fate of the ambitious project, set to decongest the national capital region and facilitate easy commuting, has been hanging precariously for the past few years, owing to change of guard in the state.
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New Airport @ Meerut or Jewar: Ajit Singh Becomes Aviation Minister

Update: 19 Dec 2011

International Airport at Meerut (in all likelihood)

The new Aviation Minister seems to have decided that Meerut is his choice for an international airport. During discussions with his party leaders on 18 Dec 11, he assured that the international flights will start from Meerut. However, since the matter is related to UP govt, it will not be possible for the Central Aviation Minister to do anything for some time (until they have a govt in the state). Keep tuned for more
अन्तरराष्ट्रीय हवाई उड़ान अब मेरठ से भी

इनसाइड स्टोरी Monday, 19 December 2011 13:16

मेरठ।। नव नियुक्त केन्द्रीय नागरिक उड्डयन मंत्री चौधरी अजित सिंह ने कहा है की मेरठ से अन्तरराष्ट्रीय हवाई उड़ान भरी जायेगी। उप्र नागरिक उड्डयन विभाग के निदेशक देवेन्द्र स्वरूप से जब इस बाबत बात हुई तो उन्होंने कहा कि जेवर में अन्तरराष्ट्रीय एयरपोर्ट का प्रोजेक्ट तैयार है।

दो हजार हेक्टेयर वाले इस प्रोजेक्ट में एनओसी के लिए केन्द्रीय नागरिक उड्डयन मंत्रालय से अनुमति मांगी है। पर अभी तक वहां से अनुमति नही मिली है। मेरठ समेत 16 स्थानों पर हवाई पट्टी भी हैं। ऐसे में यदि केन्द्र सरकार जेवर अन्तरराष्ट्रीय एयरपोर्ट के लिए हरी झंडी देती है तो दिल्ली हवाई अड्डे का लोड कम होगा। Read more…