Gurgaon real estate,real estate prices in gurgaon

Buy a home or a property is most important part of life and generally one can imagine about it once in a life. Earlier there were not many opportunities in Indian real estate market and only few people were working on property field but within last few years Indian real estate sector has been expending their boundaries from India to abroad and a new real estate market with a various possibilities has been emerging in India.

Now Indian real estate has became an organized sector and have its own concept. Real estate members started thinking globally, targeting not only Indian investors but also foreigner investors through their modern technologies, new style, good market value, reasonable prices and various opportunities.

Boom on property business are pressuring other associated business to change their strategy and policies in favor of real estate market. Bankers understand requirement of a new type of investors, who want to invest in real estate market. They are providing home loan to customers on lower interest and under lots of schemes, also providing customers subsidy on home loan. Government is launching various programs to attract property buyers and appreciating investors to invest in India.

Property or real state sector contains a better money growth than other sectors, and on other hand, risk factor is minimum here. Real estate India, due to this reason is one of the biggest growing sectors of world.

Buy a property in India is also suitable for investors due to emerging new renting system. After buying a house, one can easily get a well paying renter.

Source:http://www.ezinearticles.com/?Indian-Real-Estate-Boom&id=421954

A stagnant property market, tightening of lending by banks and failure to raise money through public equities are forcing real estate developers to look for alternative options to raise money.

India’s benchmark Realty Index lost more than half its value this year. With the heat being turned on, realtors of all sizes are pursuing different finance routes. Big players are looking at private equity funds to complete pending projects, while small developers are turning to the larger construction companies to sell theirs.

“This is really a tough time for the realty industry,” Naveen Raheja, chairman of the Delhi-based Raheja Developers told IANS. “On the one hand developers are hit by a cash crunch and, on the other, sales are dropping.”

According to property consultant firm KnightFrank India, despite huge demand, the volume of commercial property sales has dropped 30 percent and home sales by 60-80 percent in the past two months following rising interest rates.

And the worst hit are the small developers who have acquired land at exorbitant prices and now have no funds.

“Small developers are under pressure now. Selling incomplete projects to big developers is the only viable option for many of them,” said a senior official with KnightFrank India.

Bigger real estate firms such as Parsvnath, Raheja, Omaxe, Shobha Developers and Hiranandani have received many such offers from smaller developers.

“With sales dropping and property prices going for major correction, the venture has become less profitable,” Parsvnath Developers chairman Pradeep Jain told IANS.

“So those who joined the realty bandwagon expecting big returns are now opting out”, he added. “Many small developers have approached us.”

Adds Raheja, whose company has received such offers, “But we are not in a hurry. We are treading carefully and taking only those projects that we can complete on time”, he said.

A small developer preferring anonymity, as he wanted to protect his project, admitted his source of funds has dried up.

“Selling our projects to big players is the only option but they are becoming very choosy even when we are offering discounts as high as 30 percent,” he said.

But the bigger developers face an equal shortage of funds. They have now begun raising funds through inter-corporate deposits (ICDs) and non-convertible debentures (NCDs) on interest rates in excess of 18 percent to meet their fund requirements.

The vice president of a large real estate firm said his firm too has taken loans on high interest rates as protecting the brand name was more important than profits at the moment.

But the situation could worsen should the Reserve Bank of India (RBI) announce a further hike in repo rate - the interest rate on which the central bank lends to commercial banks - following the unabated rise in inflation, now at a 13-year high of 11.89 percent.

Source:http://sify.com/finance/fullstory.php?id=14715308

Buoyed by a vibrant real estate market, investors in Britain are increasingly preferring India for investment seeking higher returns on the back of a slowdown in Britain’s realty market.

Navyroof.Com, a company that highlights investment opportunities in the most upcoming areas of India to the UK investors, Managing Director Andrew Fassnidge said : “All the economic indicators project a bright, sustainable future for India.

In the last two years alone, property prices in India increased by 70 per cent.” India is also seen as an attractive destination due to the Indian government recently relaxing rules for foreign investment in the housing sector.

Merrill Lynch consultants have predicted a 700 per cent increase in the Indian property market by 2015. Meanwhile, except in several areas in London, property prices all over Britain have recorded at least a two per cent drop in the last year due to the credit crunch and a further fall in prices is predicted.

British citizens of Indian-origin are increasingly investing in places such as Gujarat, Gurgaon, Bangalore, Chandigarh, Pune and Jaipur. In order to guide NRIs for purchasing property, Indian builders and property agents often organise exhibitions here.

The latest to organise exhibitions is the Housing Development Finance Corporation (HDFC), which would organised a two-day show called “India Homes Fair” here from June 28.
About 18 eighteen leading developers, including Ansal, Unitech, from India will showcase flats and villas at the event.

Renu Sud Karnad, joint managing Director of HDFC, said: “Home buying is a tedious process … As pioneers in housing finance, we have well understood this need and have thus organised this exclusive event to guide our NRI customers so that they take an informed decision.”

source:http://www.business-standard.com/common/storypage_c_online.php?leftnm=10&bKeyFlag=IN&autono=40555

Look up in the sky, its a bird, its a plane, its a… really weird looking skyscraper

A new and bizarre building is coming to the skyscraper bejeweled landscape of Dubai.  In Dubai, home to one of the world’s most impressive skylines and many of the world’s tallest skyscrapers (Emirates Towers, the Burj Dubai, the Palm Islands and the world’s tallest, and most expensive hotel, the Burj Al Arab), big buildings are not unusual.  However, the dynamic tower is anything but your average big building.

Architects from the New York-based architect David Fisher’s Dynamic Group have announced plans for the new tower in Dubai.  The tower will be 420 m tall at its time of completion making it among the tallest projects in the world it will also be 80 stories tall.

While those stats are impressive but not unusual, the construction approach is where things start to get weird.  First the building is composed of a series of prefabricated units.  Between each floor are arrays of wind turbines.  The energy from these turbines is used to allow each unit to rotate on whim, creating an organic design in motion.

Explains Fischer, “You can adjust the shape the way you like every given moment.  It’s not a piece of architecture somebody designed today and that’s it. It remains forever. It’s designed by life, shaped by time.”

If the tower’s unique design attracts you, perhaps the sky-high price tag may turn you off.  If you want to buy an apartment in the tower, you will pay $3,000 per square foot, making the apartments range from $4M USD to $40M USD.

The tower will be completed in 2010 according to plans.  Those looking to experience the rotating design may soon find it coming to their own content.  Fischer claims to be in advanced talks to place a second similar tower in Moscow, Russia, and says he plans to put one in New York.  He also claims Canada, Europe and South Korea have all expressed interest in the design.

Some are critical of Fischer’s plans.  While he is a well-respected architect, he has never built a skyscraper before.  They wonder if his Roarkian quest can really succeed, despite his experienced staff of engineers and architects from the United Kingdom and India.

Fischer has received a development license from Dubai, but is being secretive about the construction site.  The Moscow mayor’s office says it is considering the project and that no official decision has been made.

The architecture style of Fischer is truly radical — he advertises prefabricated architecture as the “future of architecture”.  Prefab architecture allows for faster, more environmentally friendly construction, allowing a floor to be put up in only 7 days, much faster than normal.

He said that the method will allow him to cut the construction crew from the typical 2,000 or more members to a modest 600 workers and 80 technicians.  Fischer states on the Dynamic website, “It is unbelievable that real estate and construction, which is the leading sector of the world economy, is also the most primitive.”

“Most workers throughout the world still regularly use trowels that was first used by the Egyptians and then by the Romans. Buildings should not be different than any other product, and from now on they will be manufactured in a production facility.”

The new project should provide an intriguing look at one vision of the future of architecture.  If it succeeds, it will be one more crown jewel for Dubai, which has the world’s largest mall, the world’s largest snow park, and soon to the be the world’s largest hotel (and temporarily the world’s largest building) when the Burj is complete in 2009.  Dubai has strong oil profits, large international investment, and strong immigration to thank for this good fortune.

Source:http://www.dailytech.com/New+Dubai+Skyscraper+Will+Shift+Shape+Dynamically/article12217.htm

There was nothing better to validate the attractiveness of the infrastructure and real estate sectors in India than a slew of announcements made by private equity players on Monday.While two funds committed themselves for a longer term play in the Indian real estate infrastructure space, another global fund made its first real estate investment in India.

Going by that, and already announced plans from other private equity majors, real estate infrastructure could be as hot a sector this year as it was last year, the global credit squeeze notwithstanding.

Data from Grant Thornton reveal that of the $19.03 billion worth of private equity deals done in India in 2007, $6.76 billion or 35.5% was accounted for by the real estate infrastructure sector.

On Monday, Deutsche Bank, announcing the India launch of RREEF Alternative Investments (RAI), its global asset management platform for investing in real estate, infrastructure and private equity funds, also said it is committed to investing $1 billion in Indian real estate and infrastructure sectors over the next three years.

Meanwhile, local player Axis Private Equity announced the first closure of its Axis Infrastructure Fund at Rs 600 crore ($150 million), saying that the eventual target will be Rs 2,000-2,400 crore ($500-600 million).

Then there was Blackstone, which manages real estate assets worth $132 billion globally, which announced its first real estate deal in India.

It said it picked up a minority stake in Bangalore-based Synergy Property Development Services for $18 million.

Why this rush towards Indian real estate and infrastructure?

According to estimates from ICICI Securities, the Indian real estate market is worth $57 billion, and is expected to grow at a compounded annual rate of 13% to touch $105 billion by 2012. This would require investments worth $85 billion across the residential, commercial, retail and hospitality sectors. On infrastructure, the Indian government has forecast the need to spend $492 billion over the XIth five-year plan ending 2012.

As such, the investment climate for this sector has been hot, and funds, both domestic and global, have been queuing up for a slice of the action.

While 3i recently closed a $1.2 billion India-dedicated infrastructure fund, others such as IDFC Private Equity, the State Bank of India-Macquarie Bank combine and the Blackstone-Citigroup-IDFC combine are raising close to $8 billion among them to play this sector with an India focus.

For the record, Blackstone’s investment in Synergy has been done from one of its international funds, Blackstone Real Estate Partners International II.

“We could also launch an India-dedicated fund in the future, but the strategy will unfold as the markets unfold,” said Kurt W. Roeloffs, managing director and CEO (Asia Pacific) for RAI.

For its 60% stake in Nagarjuna Constructions-promoted NCC Urban Infrastructure, also announced on Monday, and the January 2008 deal in which it bought a stake in Bangalore-based Golden Gate Properties for $70 million, RAI sourced capital from its global pool.

As of December 31, 2007, RAI had total assets under management of $90.5 billion in infrastructure and real estate, with 15% of that being in the Asia-Pacific region. Although officially launched on Monday, RAI has been scouting for opportunities in India ever since Kishore Gotety, formerly head of ICICI Venture’s real estate division, was hired by the group in September 2007.

“India is a particularly attractive emerging real estate and infrastructure market for our high return-oriented offshore clients. We have plans to investors over $1 billion in India across these sectors over the next 3 years,” said Roeloffs.

Source:http://sify.com/finance/fullstory.php?id=14658164

Realty firm Prozone Enterprises’s step down subsidiary will divest a 27 per cent stake to Triangle India Real Estate Fund LLC for an amount of Rs 457 crore (around USD 114 million).

Triangle India Real Estate Fund LLC, co-promoted by South Africa-based Old Mutual Investment Group Property Investment (OMIGPI) and city-based ICS Reality, has entered into an agreement to invest Rs 457 crore for a 27 per cent stake in a step down subsidiary of Prozone Enterprises Pvt Ltd, Provogue India said in a filing to the Bombay Stock Exchange.

The downstream subsidiary of Prozone Enterprises Pvt Ltd (Prozone-Liberty), holds stake in four projects that are being developed in Aurangabad, Indore, Nagpur and Jaipur covering around 1.6 million sq ft.

Besides, the stepdown subsidiary has acquired five per cent additional stake in its Aurangabad Project and now holds a majority stake in it.

Prozone Enterprises is a joint venture between retail major Provogue India and London-based Liberty International PLC.

Liberty International PLC is a UK FTSE 100 listed property company, with assets of over GBP 10.8 billion. It owns nine of the top 21 regional mixed use centers in the UK and are amongst the 20 largest REIT’s in the world.

Prozone-Liberty has set up six international and domestic subsidiaries as SPVs for carrying on its business like — Prozone Liberty International Ltd, Prozone International Ltd, Prozone Overseas Pte Ltd, Alliance Mall Developers Co Pvt Ltd, Royal Mall Pvt Ltd and Standard Mall Pvt Ltd.
Source:http://www.financialexpress.com/news/Triangle-India-to-invest-Rs-457-cr-in-Provogue-India–s-arm/291062/

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And, that is the undeniable verdict of a Price Waterhouse Coopers study conducted on the investment environment in terms of Indian real estate. Ever since the Government of India gave its stamp of approval to 100% foreign direct investment (FDI) in housing and real estate, NRIs, overseas real estate developers, hoteliers, and others have been tracking a path to the sub-continent. Sensing the business potential for developing serviced plots, constructing residential / commercial complexes, business centres / offices, mini-townships, investments in infrastructure facilities e.g. roads, bridges, manufacture of building materials, etc., FDI is flooding in to take advantage of the tremendous real estate opportunities.

Indian Real Estate: Growing Potential

The increasing demand for Indian real estate has not only generated employment, it has also been instrumental in the growth of steel, cement, bricks and other related industries. Estimated to be in the region of US $12-billion, real estate development in India is growing by as much as 30% each year. Already, eighty percent of Indian real estate has been developed for residential space, and 20% comprises of shopping malls, office space, hospitals and hotels. Fuelled largely due to off-shoring / outsourcing of BPOs, call centres, high-end technology consulting and software development and programming firms, real estate growth in India has great investment prospectives.

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