Indian Property News
Green roles & responsibilities
Getting Green means becoming more conscious about our roles and responsibilities in our contribution to changing natural environment. Use of technologies for development which help maintain safe and healthy environment, with a long-term perspective of preserving nature for future generation is Green. There are certain parameters defined by different agencies, which allow natural systems to prevail in manmade environments and constructions following these parameters can be certified as Green Buildings.
It has been more than a decade since the time green revolution in building construction gathered pace, but it is only recently, that we find a few buildings around us certifying themselves to be Green. Some ‘Go Green’ to get a cutting edge in market over other projects, some for tax incentives offered by government, and some largely for a growing environment concern. Read More>>
Sunday, May 11, 2008 India Realestate
NRIs prop realty sector
There is not much activity in the realty sector as property prices are going overboard. The realty firms are also in the doldrums as their construction costs are going up. As if this were not enough, the vibrant middle and upper middle class are also waiting in the wings for the right moment to take the plunge for their dream house. In this rather dull period, the large NRI community, especially the Malayali and the Punjabi, are on a rampage. If the recent study of Assocham on the real estate scene in India is any indication, the large Malayali and Punjabi NRI community is on a home-purchase spree. Some of them are also into buying commercial space. This point of the survey looks very convincing as these two communities migrated to others parts of the world in droves, in the past.
People from the land of five rivers have been migrating for almost one hundred years, and, the quiet Malayalis have also shown to the world that they are second to none when it comes to going abroad for greener pastures. Of course, that does not mean that NRIs from other states are not purchasing houses in either their home towns or other parts of the country. Read More>>
Sunday, May 11, 2008 India Realestate
Levy of stamp duty
The provisions regarding levying, collection and payment of stamp duty are contained in the Indian Stamp Act 1899. Under the Stamp Act, certain documents need to be legitimised by paying applicable stamp duty on them. The proceeds of stamp duty leviable in any financial year are assigned to the State. As the revenue from stamp duty is assigned to the State in which they are collected, each State Government has prescribed by rule that stamps purchased in the particular State alone should be used for instruments executed in it. The basic purpose of the Indian Stamp Act 1899 is to raise revenues for the Government. However, over a period of time, a stamped document is considered much more authentic and reliable than an un-stamped document as it is considered to be ratified.
Stamp duty is a State subject and hence would vary from State to State. The stamp duty in many States is paid as per the market value of property as assessed by the stamp office. Read More>>
Sunday, May 11, 2008 India Realestate
Wanted: One-bedroom FLAT
There was a time when DDA and GDA used to make one-bedroom flats in a big way. Such one-bedroom flats can be seen in many parts of the capital, as well as in Ghaziabad. Thousand of people live in them with their families. However, nowadays, despite demand in the market - and there are enough people who are keen to buy such flats - the prestigious real estate firms have almost stopped making one-bedroom houses. One has to really make an extra effort to find whether any well-known builder is still constructing such flats.
This trend can easily be seen in whole of NCR. Those who know the real estate world closely will tell you that many aspiring flat owners cannot buy houses due to the high cost of two-, three- and four-bedroom flats. Due to this very reason, many of them drop the idea of buying a flat. If they are offered a singlebedroom house, costing up to Rs 18-20 lakhs, they can buy that easily with the help of a home loan. It is really baffling to say the least, that builders have more or less stopped making single-bedroom flats despite the huge demand. Read More>>
Sunday, May 11, 2008 India Realestate
Suburb environs look good for investors
Two developments this week are significant for property investors. The first, of course, is the fact that there was no upward revision in the prime lending rates along with the Reserve Bank of India’s credit policy. The second was the extension of the tax holiday for the IT sector till 2009-10. These have a bearing on the property market, especially for property investors. To begin with, the hike in the cash reserve ratio (CRR) by a quarter percentage point, to take it to 8.25 percent, to draw around Rs 8,000 crores out of the system, is not likely to impact home loan interest rates. The banks are flush with funds and the keen competition will see them hold prime lending rates and consequently home loan interest rates, while absorbing the hike in CRR. This move was necessitated by the rising inflation levels. The inflation rate was close to 7.5 percent this week.
Home loan borrowers, for both self-occupation and investment reasons, will find this a welcome sign. With the tax sops available, property is an attractive investment as the effective rate on home loans comes down. In the light of turbulent stock markets, the property sector will see some investments coming its way. The stable interest rates of home loans is a major draw for those holding surplus funds and looking for investment avenues to park it in. Read More>>
Sunday, May 11, 2008 India Realestate
Living room decor
To decorate a small living room is a very challenging task and you have to take care of each and every point. This article will give tips to decorate your living room during summers. At first, you have to give spacious look to your small living room just by painting cool colours on the walls of the room such as lighter shade of purple, pink, blue, green. Lighter colours on the walls always give a spacious and cool look to any room. And, your room looks more spacious if you paint the ceiling of the small living room in a colour lighter than the walls. For your small living room choose colours from one family. If you are using lighter shade of green on the ceiling, then choose a little dark shade on the rest of the walls. You can create interest in the room by using a combination of glossy and matte paints — of course, of the same colour. Use matte paint on the walls while glossy paint on doors and window trims. Allow natural light to come inside the room.
Choose curtains of soft fabric as they allow air to pass through. Curtains with soft fabric add elegance in your living room. For giving height to the room you can hang curtains right from the ceiling. The shade of curtain can be the colour of your ceiling, or can be a little darker shade to that of the wall colour. But, remember, it should not be very dark. You can choose mix and match curtains, but it should go well with the colour of the walls. Use neutral shade rug on the floor as it perfectly blends with any type of decor. Read More>>
Sunday, May 11, 2008 India Realestate
A new hot spot
The Karnal Business Centre (KBC) in CHD City at Karnal is fast emerging as the latest hot spot of business activities and real estate development. CHD Developers Ltd, the mastermind behind the project, will soon announce the launch of KBC, which is part of its mega project called CHD City. According to chairman-cum-managing director of CHD Developers Ltd, R K Mittal, the location of the KBC makes it one of the prime commercial centres and hence the launch of the shop-cum-office (SCO) or commercial plots is going to be a gold rush.
The upcoming Karnal Business Centre has great potential and it wont be an exaggeration to say that the rates there would be touching Rs 100,000 per yard very soon, says Mittal. Read More>>
Sunday, May 11, 2008 India Realestate
DLF, Indiabulls bring back S’pore REIT listing from cold
It’s destination Singapore once again for realty majors Indiabulls and DLF Assets. After deferring their decision earlier this year, the two companies are once again planning to list their real estate investment trusts or REITs.
Indian realty giants are headed to Singapore again. Both Indiabulls and DLF Assets will tap the Singapore market for their REITs, after having deferred their plans earlier this year due to market volatility. Read More>>
Sunday, May 11, 2008 India Realestate
Floor Rates for NCR Realty may Rise 30%
Get ready to shell out more stamp duty while buying real estate in the National Capital Region (NCR). The NCR board is likely to hike the minimum floor area rates (circle rates) for property transactions in and around the Capital by 20-30%. The new minimum rates are expected to make it easier for people to buy houses by entitling them to bigger home loans, besides generating more revenues for the government.
A circle rate is the floor price at which property transactions are registered, and quoting a lower price is not allowed. Therefore, higher circle rates mean more transparent transactions. Read More>>
Sunday, May 11, 2008 India Realestate
Dubai’s Deyaar drops Project with India’s Ansal
Deyaar, a Dubai property developer at the centre of an investigation into alleged embezzlement, said it had agreed to drop plans to develop a real estate project in India. In November, Deyaar, Dubai’s second-largest property developer by market value, said it expected to finalize a $5 billion agreement to build a township near Delhi with India’s Ansal Properties and Infrastructure Ltd.
An initial agreement with Ansal to work together had been cancelled by mutual consent, Deyaar said on Wednesday in a statement on the Dubai bourse website. It did not explain why. Read More>>
Sunday, May 11, 2008 India Realestate
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