Carrefour Plans to come up with 4-5 Retail Stores in India by end-2010
Carrefour, the world’s second largest retailer, has secured four properties in four cities across India and plans to set up 4 to 5 cash-and-carry stores by the end of 2010.
The French retail giant has signed for properties averaging about 100,000 square feet each in New Delhi, Bangalore, Chennai and Hyderabad and is in the process of signing up a fifth property in Mumbai.
Real estate financing in India has changed significantly over the past 50 years for both developers and buyers. Real estate developers have seen the universe of funding agencies expanding from unorganised moneylenders to the entire gamut of funding sources, including loans from banks and housing finance institutions (HFIs), private equity, public equity offerings, bonds, and debentures. Buyers have seen the shift from own resource-funded home purchases to bank-funded mortgage finance.
State Bank of India (SBI) will increase by ten-fold its loan limit to individuals planning to buy land to build a house as the country’s largest lender makes a greater push into the housing segment. The bank has finalised a proposal under which it will lend Rs 10 crore for buying land for housing against the earlier cap of Rs 1 crore.
RE/MAX a forerunner in realty sector providing management solutions for their Indian operations announced on Monday, May 3 that they are going to open an advanced Real Estate Management platform in the country. For this they have entered in partnership with Gryphtech a major provider of enterprise software applications, solutions and services.
Property Card Will Be Only Ownership Proof -Times of India
Urban property owners in five major cities in Karnataka — Mysore, Shimoga, Hubli-Dharwad, Bellary, and Mangalore — will move from `presumed’ to `certified’ ownership of property, courtesy the Urban Property Ownership Records (UPOR) project.
This will promote trust in transactions and security of property title and will improve investment options for the citizens.
The final property card will be issued with photograph of property owner on it. Read More
Roads To The Future- The Hindu
Three stretches on the city’s outskirts are on the way to becoming real estate hotspots. These three stretches are hot topics in Chennai’s realty circles.
The road has also benefited from the development of social infrastructure facilities such as colleges, schools and hospitals. Access to similar facilities in nearby OMR and GST road is another attractive factor. Industry watchers feel that the completion of the Outer Ring Road will provide a further developmental fillip.
For many years, realty talk has centered around the OMR. Those in the business now believe that the buzz in the future will be around these three roads. Read More
Property Outlook For Delhi, Mumbai Promising- The Hindu
Leading international property consultancy Knight Frank and Citi Private Bank unveiled their latest research study worldwide “Wealth Report 2010” offering a global view on the performance of prime residential property markets with the focus on the Asia-Pacific.
Commenting on the prime property market in India, Pranab Datta, Vice Chairman and MD, Knight Frank India said, “There are growing prime markets in every city of India. But, South Mumbai and South New Delhi are the markets which are highest in terms of prices followed by Bangalore, Chennai and Hyderabad. We anticipate that the prices especially in cities such as Mumbai and Delhi will return to the peak levels of 2008 in 2010.” Read More
Saving, Brick By Brick – The Hindu
A garment entrepreneur-turned contractor A. Sellappan (57), from near Coimbatore, has come up with a new building material —interlocking building blocks — that he says can cut construction costs significantly. Read More
The Outlook For 2010 – Deccan Chronicle
As we all know, the outlook for the home loan industry largely depends on the parent industry – the real estate industry.
According to the consultancy firm, Ernst & Young, “The recession-hit Indian real estate sector is crawling towards recovery with the return of end users as well as institutional investors in the market. Read More
Union Budget 2010: Developers eye savings, demand boost
The real estate sector received a shot in the arm on Friday after the 2010-11 budget proposed a slew of tax concessions and measures that could boost demand for the sector, sending their shares soaring. To see the full article click here.
Kolkata leads in home price rise, Bangalore sees crash
Revival in housing prices is sharper in Tier 2 cities of India than in the big metros, though the latter have seen appreciation in the value of their housing stock. While the slowdown knocked the stuffing out of the residential housing market in 2007, after a couple of painful years, prices are beginning to look up in most cities, the exceptions being Bangalore, Hyderabad, Jaipur and Kochi. To see the full article click here.
‘Affordable Housing’, a book on Solution for Housing Laws released
‘Affordable Housing’ research work of Senior Advocate Arun Mohan was launched by Kumari Selja, Minister of Housing & Urban Poverty Alleviation and Tourism, GoI on Saturday. To see the full article click here.
Union Budget 2010: Your dream home hit a building block
There’s one provision in the Budget that may come as a flat shock for aspiring home owners. The FM has introduced a service tax that may raise prices of new apartments by around 3.5%. To see the full article click here.
Price rise: Opposition united, government admits no easy solution
From the front, Leader of Opposition Sushma Swaraj on Thursday tore into the UPA government on price rise and demanded a Joint Parliamentary Committee probe into “scams” that she said had resulted in “galloping prices of essential food items like wheat, rice, pulses and sugar”.To see the full article click here.
Bangalore realty sector fails to benefit from low-cost housing
Bangalore’s real estate market continues to groan under the burden of unsold property and sluggish demand, even as a revival in property sales in other cities has encouraged developers to launch a slew of projects. To see the full article click here.
Residential property prices may rise by 10 per cent
Residential property prices are likely to rise by up to 10 per cent in the next six months as demand has picked up. The country has seen and upswing in demand for both affordable and the premium housing segments. To read the full article click here.
15 per cent drop in real estate prices
Chennai real estate is now on a downward slide. Market studies have shown that prices of land, apartments and particularly that of IT buildings, have come down by about 15 per cent confirmed by Builders and promoters. To read the full article click here.
Real estate players feel stimulus packages must continue
The real estate sector is at crossroads. On a revival path after it went through tough times owing to economic slowdown in the country, the revival, though, is mainly on account of stimulus packages given by government to the economy. To read the full article click here.
Realty prices may inch up on demand pick-up
Home prices may remain firm or inch up slightly in metros such as Delhi and Mumbai and their suburbs despite an expected rise in interest rates as demand picks up once again on the back of renewed activity on the employment front, says the bankers and realty players. To read the full article click here.
End the waiting, real estate developers tell consumers
The global economic slowdown began to make itself felt in the Indian housing market, prices and off take have both fallen by at least 35 per cent. To read the full article click here.
Realty cos eye infrastructure push, easier taxes
India’s realty firms, recovering from a slump that saw prices drop 25-30 percent, hope tax sops are extended to boost construction of affordable homes, but eye more benefits from an anticipated push to infrastructure and easier income tax regime, players and analysts said. To read the full article click here.
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