2015 to be ‘good year’ for India real estate

Date : Dec 23, 2014

With policies announced this year by Prime Minister Narendra Modi set to boost the real estate market, along with long-awaited regulatory changes, 2015 is predicted to be a good year, say Anuj Puri, of JLL India India’s real estate market is set to take off in 2015 and long-awaited legal changes benefitting overseas investors could at last be ratified, predicts a leading real estate chief. With many of 2014’s changes announced by India Prime Minister Narendra Modi coming into force the following year and other legal and regulatory changes planned, the sector looks set to receive a fresh boost in 2015, says Anuj Puri, Chairman & Country Head of JLL India. Next year will see home buyers benefiting from

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Indian real estate: 2014 year in review and forecast for 2015

Date : Dec 22, 2014

New Delhi: The year 2014 has been quite fruitful for the real estate sector in terms of business sentiment, although the real effect of many of the policies and amendments announced in 2014 will take effect only in 2015. Starting from Union Budget FY 2014-15, where affordable housing was considered on par with infrastructure, to relaxation of rigidities in the Land Acquisition and Real Estate Regulatory Bill, India’s new Prime Minister has been offering the India real estate sector consistent doses of energy. The winds of change are now blowing more perceptibly. Inflation, including the house price component, has now been reduced to the lowest level in recallable history. Property buyers are back in force in most cities as

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Road to regulation: Real Estate Bill takes final shape

Date : Dec 20, 2014

In an important development towards the regulation of realty sector within the country, the Real Estate (Regulation & Development) Bill, drafted by the UPA government, which is awaiting the new government’s approval has undergone a few changes and is expected to be soon taken up by the Cabinet for approval. The two important changes proposed by the ministry of housing are — bringing down the percentage of receivables from home buyers that has to be kept in the escrow account for the purpose of construction, from 70 per cent earlier to 50 per cent now. The other is to bring the commercial segment of the real estate sector within the ambit of the Bill, which earlier was limited to regulating only the residentia

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Parl panel recommends "vertical growth" in cities like Delhi

Date : Dec 19, 2014

New Delhi: Recommending vertical growth as the way forward for cities like Delhi, a Parliamentary panel has expressed disappointment that despite the creation of numerous master plans, no Indian city has managed to stay ahead of the urbanisation curve. In its report which was presented in Lok Sabha Thursday, the Standing Committee on Urban Development headed by BJD MP Pinaki Misra, said that though urban development is a subject assigned to states, the Urban Development Ministry should hand hold and implement its plans to develop smart cities and work for renewal of 500 cities. The panel recommended for vertical development in Delhi and other cities because there is scarcity of land. The Committee observed that all ma

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Real estate development: How FAR can you go?

Date : Dec 17, 2014

New Delhi: Among the various regulations adopted in real estate development, Floor Area Ratio (FAR) is one of the most critical ones because it decides the intensity of development which is permitted in a certain area. Recently, the fact that the urban development ministry raised the FAR for residential areas in Delhi to 200 per cent made headlines news because this will lead to a significant increase in built-up areas in many parts of the city, thereby infusing critically needed residential supply. FAR regulations play a big role in any city’s real estate development profile and it is therefore important to understand the concept. FAR parameters vary from state to state and are governed by the respective city development

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NRIs shaping up Indian real estate industry

Date : Dec 15, 2014

Dubai — Luxury properties, green buildings and eco-friendly homes are gaining momentum among non-resident Indians, or NRIs, that will shape up the future of India’s real estate industry. The exhibitors, developers and participants of the Indian Property Show, or IPS, said NRIs, who also opt for the affordable housing concept, will be playing a major role in boosting the property sector as the current demand in the domestic market is weak. “Undoubtedly, there has been a slowdown in Indian market for last 12 months or so,” Nishant Singhal, director for strategy and International business at Investors Clinic, an Indian real estate consultancy with offices in Dubai, told Khaleej Times at the IPS, whi

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Ikea launches its 'Make More In India' campaign

Date : Dec 13, 2014

Ikea has embraced Indian Prime Minister Narendra Modi’s ‘Made In India’ campaign and plans to double sourcing from the country, while increasing manufacturing output in the next few years. Ikea is looking for real estate in India to open new stores and believes it will increase investment in the region from €315 million to €630 million by 2020. Ikea is calling its strategy ‘Make More In India’ as a nod to Modi’s highly publicized campaign. Sandeep Sanan, head of sourcing at Ikea South Asia, said, “We believe there is tremendous potential in India. We are looking for new suppliers who share our vision and values, are willing to grow with us and become world class suppli

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45,000 Indian properties to go on show at Dubai event

Date : Dec 10, 2014

More than 170 exhibitors are set to showcase 45,000 properties worth 24,000 crores Indian rupees ($387.2 billion) at a top property show in Dubai, UAE, starting tomorrow (December 11). The 15th edition of the Indian Property Show will run till December 13 at the Dubai World Trade Centre,  and will inaugurated by Arbaaz Khan, a leading Bollywood actor, director and producer. The organisers are expecting to be visited by about 18,000 homebuyers over the three days. The show has become a launch pad for developers over the years, said a statement. The show has promised a mix of properties in India with developers coming from Tier 1, Tier 2 and Tier 3 cities, it said. The buyers can look out for deals at the show

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Know whether to rent or buy a house in your city

Date : Dec 9, 2014

By Nitin Vyakaranam Property prices in most cities are still out of reach for many and the high interest rates on home loans only add to the misery of the common middle-class Indian. Though owning a home is a dream for many, the financially-stretched individual is caught in a perpetual dilemma of whether to keep paying the rent or sign up for an EMI. The average age of a real-estate buyer in India is close to 30 years, the youngest across various developing market markets. The society, as a whole, favours buying property and believes that the buy decision is the best to make irrespective of the ground reality. Combining this with a backdrop of expensive real estate and high interest rates, any misstep in a buy versus ren

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Sobha Limited plans significant market expansion in India

Date : Dec 8, 2014

Bangalore based real estate player Sobha Limited is eying to double its size by adding new sales of 7 million sq feet. Also, with its unique backward integration model, Sobha is strengthening its position material suppliers market. J C Sharma, vice chairman and managing director, Sobha said, "We have seen an improvement in the market sentiments post the formation of the new government. Despite this, the real estate sector is yet to be benefited by the positive change in the economic conditions. Given the current scenario, we are of the opinion that recovery is not far away for the real estate sector." The company is currently developing 50 projects covering 24 million sq ft of saleable area. It has presence in 24

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Indian Property Show to feature top line-up

Date : Dec 7, 2014

The forthcoming Indian Property Show in Dubai, UAE, has lined up an impressive array of showcase companies, including Credai Maharashtra, which will feature real estate projects from the Indian state of Maharashtra. The event will be held from December 11 to 13 at Dubai World Trade Centre. Varied properties from various cities in Maharashtra, namely Aurangabad, Kolhapur, Nagpur, Nashik, Pune, Sangli and Solapur will be promoted, a statement said. Credai Maharashtra (Confederation of Real Estate Developer's Associations of India) is the apex body of the organised real estate developers/builders across the state of Maharashtra (excluding Mumbai). Seventeen district level associations spread across the state are

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UBM India Concludes OSH India 2014 in Mumbai

Date : Dec 6, 2014

The OSH India Exhibition & Conference 2014, which is India's only event on safety, is recognised as an integral part of the industry. The two-day event hosted by UBM India at Bombay Exhibition Centre, Mumbai concluded on 28th November 2014. The second day of the event was marked by an interactive session by Mr. J. C. Sekar, Managing Director (Asia and Middle East), UL Workplace Health and Safety- Moderator, Dr. R. Rajesh, Group Medical Advisor, Reliance Industries Ltd., Mr. Ganesh Wagh, Head Safety- Health & Environment- Mahindra Automobiles Division, Mr. V. Purushothaman, Lead EHS Manager, Air conditioning and Refrigeration Products- Blue Star Ltd., Mr. Manish Singh, Interim Head-Group Health & Safety, Corporate

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