good City= good transport = good society

What I have always felt is that our job is not just building Building's but building a Society & a Society is build only by our attitude as well actions towards the social cause!

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"??????? ???????? ???????? ?????? ???" ?? ????? ???????????? ?????? ????????? ??????? ?????? ??? ????. ?? ????? ???? ????? ??? ?. ??? ?????? ???????? ????? ???????? ????? ??? ????. ??????? ??????????? ??? ??????????? ????? ?????????? ????? ?? ????? ???? ???? ???? ??? ????. ?. ???? ????????? ??????? ??? ???? ?????????? ?????, ????? ??? ?????????? ??? ?? ??????? ?????? ????. ?.????????? ?????? ??? ???? ???? ?? ??????????? ??????? ???????? ????????? ?????? ???? ??? ?????, ?? ????????? ????????? ???? ??????????? ?? ??? ??????? ????. ?. ????????? ?????? ???????? ???????????????? ?????. ?? ???????? ???????? ????????? ????? ?????? ???? ??? ????, ??? ??????????? ?? ?????????? ???? ???? ????. ?? ???????????? ????????? ?????? ?????? ??????????, ??????? ??? ????????? ??? ????. ?? ????? ??????? ???????? ???????? ????? ?????? ????? ??? ????. ???? ??????? ??? ???????? ?????? ???????? ????????? ????? ??? ????. (???? ?? ?????? ???) ?. ????????? ?????? ???????? ???? ????????????? ?????? ????????? ???????? ????????? ???? ???????? ??????? ?????????? ??? ????? ????? ????. ??. ??????????? ?????? ???????? ???????? ???????? ??? ???????? ?????, ???? ???? ?????????? ?????????? ?????? ?????? ??? ??????/????? ???????? ?????? ????????? ??? ?? ??? ??? ????. ??. ????????? ?????? ?????????????? ???? ???? ??? ???? ?? ?????????? ?????????? ?????? ???? ??? ????. ?????????? ?????????? ?????? ??? ???? ?????? ?? ???? ??? ????. ??. ???????? ????????? ??? ???????? ??? ????? ???????? ???????? ????????? ?? ??? ??? ?? ?????. ?????????? ?????? ??? ??? ????. ??? ???????? ???? ???? ??? ????? ????, ????? ???????? ???? ?????? ??? ???? ??? ?? ??? ????? ??? ???????? ???????? ????. ?????? ?????? ?????? ?? ???? ??????? ???. ???????? ??? ??????? ????????? ?????? ??????????? ???? ??????? ?????? ????? ?????????????? ?????? ????. ?????? ???????????? ????? ???????? ??? ??? ???? ??? ??????? ????? ??????? ??? ??????? ???? ??? ????. ??????? ??????? ??? ??? ???? ?????? ?????. ??????? ????? ??? ?????????? ?????? ?????? ?????? ???? ??? ?? ?????? ?????? ???????? ??? ???. ????? ????? ??? ???? ?? ?????????? ??? ???????????? ??????????? ?????????? ???? ???? ????? ???? ??????? ????? ??????????? ???-?????? ?????????? ??????? ??? ??????? ?????? ????? ??? ????? ??? ?????????? ??????? ????? ???????? ???? ??????????? ?????????? ?????? ????? ??????? ?????????? ?????? ???! ???? ?? ???????? ?? ?? ???????? ?? ???? ???????? ????? ??? ? ?? ???? ?????? ?????? ???? ????? ??? ????? ??????? ??? ?????? ?? ???? ???????? ???? ???????? ???? ???? ?????? ??????? ?????? ??? ???? ???????? ?????????? ???????? ????? ??? . ?? ???? ????? ????????? ?????? ??? ?? ???? ???? ????????? ??????????? ??? ???? ?? ?? ??? ?????????? ?????? ???????? ?????? ???? ???? ?????? ??? ???. ????? ????????? ?????? ???????? ?? ????? ??????????? ???????? ??? ??? ?? ?????? ?????? ????. ?? ?????? ?????? ???? ???????? ???? ????? ???? ???? ???? ???? ?? ??? ?????? ????????? ?????? ???? ?????? ????? ???? ?????? ??? ???????? ?????? ??????????????????? ?? ????? ??????? ???? ?? ?? ??????? ??? ???? . ?? ?????? ??? ?? ??????? ??????? ???? ?????, ???? ??????? ???? ??????? ???? ??? ?????? ??? ???? ! ??? ?????? ????? ??? ??? ???????? ????????? ?????? ????????? ????? ???, ?? ???? ???? ????????????? ???? ?? ????? ???????? ??? ????????? ?????? ???! ???? ???????? ??????? ?????????? ???????-???? ?????, ??????????, ????

Cut in home loan interest rates will spur demand in the housing sector

http://m.economictimes.com/markets/real-estate/realty-trends/cut-in-home-loan-interest-rates-will-spur-demand-in-the-housing-sector/articleshow/16599026.cms

Cut in home loan interest rates will spur demand in the housing sector

A huge impetus to the real estate sector could help arrest the present slowdown in the economy to a projected growth rate of around 6% in 2012-13 as against 6.5% in 2011-12 and 8.4% in 2010-11 , real estate experts say.

In 2008-9 also, when India's growth had slowed down to 6.7%, from 9.3% in the previous year, the revival of the real estate sector due to launch of houses in the affordable segments led to a turnaround in the economy , which saw a growth rate of 8.4% in 2009-10 .

Lalit Kumar Jain, president of real estate developers ' body Credai, says that a revival in the real estate sector will have a positive impact on 250 industries. Jain, who is demanding that real estate sector not be meted stepmotherly treatment by the government, says that if the sector is given what it deserves, it will help revive the economic growth in the country.

As the home loans given by banks to homebuyers are backed by solid collaterals, the chances of default by borrowers are very low.

But still, as the banks are discouraged by the RBI in giving home loans, they charge high interest rates, in the region of around 10%. Jain says that whatever non-performing assets have been created in the homeloan sector, it is mainly due to delay in the payment of instalments. But, overall, there are hardly any cases where banks could not recover their money in the housing sector. Jain says that, therefore, banks should charge an interest rate of 7% on home loan. In fact, as the net loss due to non-performing assets in the home-loan segment is almost nil, banks should lend at the rate equivalent to cost of funds including the administrative charge. If home loan is brought to 7%, there will be a spurt in demand in the housing sector, which will help revive the economy. In fact, if interest rate on home loan is brought down to 7% from the present level of around 10%, an individual's borrowing capacity will go up.

If the interest rates fall by around 3 percentage points, an individual's borrowing capacity will go up by almost by 25%. That means, with the same EMI, he can borrow almost 25% more at 7% interest rate than he could have borrowed at 10% rate of interest.

Getamber Anand, officiating president of Credai, NCR, says: "An interest rate cut will trigger a boom in the real estate market and is sorely needed to support this sector. This has the potential to kick-start nearly 300 affiliate industries, which can contribute to the IIP. To aggressively kick-start this sector and uplift the sentiments of the retail customer, this rate needs to be brought down to a single-digit figure."

Real estate prices and rentals rise considerably in Pimpri-Chinchwad

Real estate prices and rentals rise considerably in Pimpri-Chinchwad

PIMPRI-CHINCHWAD: As areas under PCMC witness marked improvement in infrastructure, real estate prices across all sectors in the region have risen considerably. In the same league, the number of properties going on rent have also seen a considerable appreciation.

Industry observers in the realty sector say that on an average, properties on rent increased 50 percent in the past five years, while rentals are still appreciating. Moreover, availability of affordable properties when compared to neighbourhood localities is another key contributor to the boom in Pimpri-Chinchwad residential property sector.

THE PERFECT DESTINATION

As per a recent study conducted by 99acres.com, a real estate website, Pimpri-Chinchwad's advantage is being a prominent automobile hub in western India. This — along with a strong presence of IT companies in Hinjewadi — make areas like Wakad, Pimple Nilakh and Pimple Saudagar a perfect option for senior management professionals. On the other hand, Ravet, Talegaon, Moshi and Akurdi offer affordable and low cost housing for all categories of people.

Vineet Singh, business head of 99acres.com said, "Areas like Wakad, Pimple Saudagar, Spine Road and Pradhikaran have witnessed the highest rental appreciation in Pimpri-Chinchwad. People working in the nearby auto and IT hubs prefer to stay close by. The picture five years back was totally different. Most infrastructure projects were still taking shape."

PROPERTY BOOM

Singh also maintains that on an average the property values has seen a hike of 10-12 percent this year. "The convenient location near the emerging Mumbai-Pune growth corridors has come into the limelight and attracted buyers and investors not only from Pune, but from Mumbai and other cities as well," he said.

Anil Pharande, chairman of real estate developers, Pharande Spaces also agreed with rising rentals. He said that most areas that are well connected to Hinjewadi IT Park, the MIDC manufacturing belt and the upcoming International Convention Centre are witnessing rental appreciation.

Pharande added, "The highest demand for rental properties is for studio apartments and 1 and 2 BHK flats. These demands stem from a migrant workers."

He added further, "Three and 4 BHK flats are in demand by a smaller a section of people comprising top-management employees. Property prices and rentals are dictated by demand and infrastructure development, both of which are quite high in this region. Many investors are purchasing flats in order to rent them out because of the increasing demand for rental properties," he said.

Shrinking homes

http://m.indianexpress.com/news/%22homes-no-bigger-than-a-bus%22/989700/

Homes no bigger than a bus - Indian Express Mobile

Yeh kamra toh shuru hone se pehle hi khatam ho gaya, bhai!” This piece of wit from the sidekick ‘Circuit

’, of Bollywood blockbuster ‘Munnabhai MBBS’ fame, is being played out in the affordable housing sector today, where real estate developers are offering homes that measure a mere 250 square feet. “Which is, as big as a bus!” said a real-estate expert who did not want to be named. Affordable, but how liveable?

In order to make the dwelling more affordable, reducing the saleable area is one of the several measures that are being adopted by real-estate developers who have entered the market in the National Capital Region, Mumbai, Ahmedabad, Kolkata, Pune, Bangalore and Chennai.

As a result, affordable houses have shrunk by at least 40 per cent of the sizes that existed a decade ago, say real-estate experts.

“According to our estimates, the sizes of affordable houses in Gujarat has shrunk by at least 40 per cent in the last decade,” says Nirav Kothary, head of industrial real-estate division at Jones Lang LaSalle (JLL), a global property consultant.

A recent report titled ‘Affordable Housing in India’ from JLL clearly states, “In order to reduce costs and improve affordability for the buyer, developers have adopted several measures. This includes units having reduced saleable areas of 250-350 square feet for one room-kitchen, and 400-500 square feet for one bedroom-hall-kitchen formats.” Experts describe these homes as being no bigger than a state transport bus operating in the state.

Real-estate developers say that the rising cost of land in urban centres is the main cause behind the shrinkage in the sizes of affordable houses. While experts believe that smaller housing units are an apt answer for India’s housing problems, a research study conducted by the Hyderabad-based Indian School of Business (ISB) in 2011, points out that families feel “uncomfortable” to live in houses that are smaller than 700 square feet.

Even large affordable housing players like Tata Housing are offering units as small as 293 square feet (carpet area) and in Ahmedabad it costs Rs 8 lakh.

In the period 2009-12, affordable housing projects priced between Rs 5-10 lakh have been sold on an “application model” due to huge demand, with multiple takers for the same unit, says JLL.

Thriving market, new suburbs

Increasing land prices have also pushed affordable housing projects away from city centres. Mumbai and NCR have affordable housing projects located 65-75 km away from the city centre. On the other hand, Ahmedabad and Kolkata provide better proximity, with projects located at a distance of 15-20 kms. Bangalore, Pune and Chennai also have projects after a distance of 25-30 km from the city centre, states the JLL report.

The shortage of land has been exacerbated artificially by poorly conceived central, state and municipal regulations. As a result, land prices in India are much higher than intrinsic levels that can support mass real-estate developments.

Mumbai is currently leading the affordable housing sector, with over 15 projects. Karjat, Palghar and Boisar in the neighbouring Thane and Raigad districts are the popular locations for homes at that price point. In Ahmedabad, the localities of Narol and Vatva have multiple ongoing projects.

Apart from Tata Housing the other players are Value Budget Housing Corporation, Foliage, DBS Affordable Homes and Nirman Group. Other big players such as HDIL and Usha Breco Realty have been successful while Mahindra Lifespaces, TVS Housing and S Raheja have announced future developments targeting this segment are.

“There cannot be houses as small as 250 square feet,” says Umang Thakkar, CMD Dharmadev Infrastructure which is currently building 10,000 affordable housing apartments in various areas of Ahmedabad and start at 600 square feet.

Thakkar who has been in the affordable housing business for the last 20 years feels that rising prices of land and the changing lifestyles of people have caused houses to shrink. “The prices of land have risen several fold over the last few years. Moreover, people no longer live in joint families. There are more number of singles and migrants who prefer smaller houses,” says Thakkar.

In order to ensure low construction cost, the building structure is typically low-rise with Ground+ four floors, without a lift. “The low-rise structure and adoption of technologies such as aluminium formwork and building information modelling enables developers to complete the project within a short period of 18-24 months, thus decreasing the collective time and better returns,” the JLL report states.

THE AFFORDABILITY GAME

To make the housing project more affordable for the buyer, developers are adopting the following measures:
Limited options: Units offered are mostly one room-kitchen and one-bedroom-hall-kitchen formats
Reduced areas: Units have reduced saleable areas of 250-350 square feet for one-room-kitchen and 400-500 square feet for one-bedroom-hall-kitchen.
Low construction cost: Structure is typically low-rise with ground+3 or ground+4 floors, without lift.

Shorter period of construction: The low-rise structure and adoption of technologies such as aluminium formwork and building information modelling enables developers to compete the project within a short period of 18-24 months, thus decreasing the collection time and improve returns.

Policy paralysis hit realty sector in big way: CREDAI

Policy paralysis hit realty sector in big way: CREDAI

NEW DELHI: Realtor's body CREDAI today said the government's policy paralysis has severely impacted the real estate sector which is facing stagnation in growth.

"The economy

is in a bad shape and there is an all round despair. We have been witnessing a widespread criticism -- in India and abroad -- and policy paralysis has impacted the real estate industry in a big way," CREDAI National President Lalit Kumar Jain said in a statement.

Jain said the government needs to appreciate the fact that realty sector supports over 250 other industries, contributes 11 per cent to GDP and is the largest employment generator after agriculture.

CREDAI, the apex body of real estate developers from across the country, has convened its governing council meeting in Delhi tomorrow to take stock of the housing scenario in the country, the statement said.

The meeting assumes significance in view of the fact that real estate has been experiencing stagnation in its growth despite the housing shortage touching 26 million, it added.

Jain said the CREDAI's governing council would chalk out a plan and then announce it.

Real estate sector is witnessing slowdown in demand due to high interest rates on home loans since last couple of years and economic slowdown in global as well as domestic market.

Almost all the developers have reported decline in net profit from last several quarters.

Article: Numerous religious beliefs drive the Indian realty sector

Numerous religious beliefs drive the Indian realty sector


A saying goes that the best investment on earth is earth. In the words of Charles Dudley Warner : "No man but feels more of a man in the world if he have a bit of ground that he

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can call his own. However small it is on the surface, it is four thousand miles deep; and that is a very handsome property . To own a bit of ground, to scratch it with a hoe, to plant seeds and watch, their renewal of life, this is the commonest delight of the race, the most satisfactory thing a man can do."

Especially true for Indians, for whom home ownership has the most positive and uplifting effect. How the face beams with a megawatt smile when they start talking about their own home... 'sadi kothi' (my house)!

A house is not just a house - it stands for safety, security and there is great deal of pride in ownership of this unique asset for an Indian. Owning a house is a keystone in financial and emotional security. You aren't buying a space to eat and sleep. It is where you go after a hard day on the job - it is your 'safe haven' .

India, with its unique social landscape, is driven by numerous religious beliefs and, for most people, they are sacrosanct.

To approach the Indian market one has to be mindful about these social realities. One significant trend is of buying during Navaratra and Diwali. In Indian real estate industry, it is common knowledge that one third of the annual sales happen during Diwali.

On an average, the festive season stokes up real estate transactions by 25-35 %. On the contrary the "Shraadh" period typifies stalemate and a complete lull in the industry . This period is utilized for marketing and research activities to set the ground for sales during festive season starting from Dussehra to Diwali.

The real estate market operates on trust, rather than it being a plain commercial deal. People find brokers, more from word or mouth and references and bestow full trust on these agents. Brokers have a great deal of influence on the decision-making process and house hunting of a common man; hunting a house without a broker is akin to fighting a legal battle without a lawyer.
Even though things are changing now, and investors keep a keen eye on the internet platforms that provide reams of data on every locality and project, the final call, however, is made with the 'trustworthy' brokers. The New Age broker is becoming much more professional with even the term 'brokerage' rechristened as 'transactions' !

The other important emotional driver during house purchase is the family. "Family is the real engine or driving force of Indian real estate market. Strong family ties play a pivotal role; even today, if a person is buying a house, he consults his full family before a final decision," says Sonika Khurana, Planning Head, Vardhman Estate & Developer (P) Ltd.

An individual may zero in upon a property , but a final call happens only with consensus of family members. The stamp of approval of elders is seen as a must.

Family often lends financial support, without any 'interest' and, at times, without any expectation of return of their money . How else would one imagine people at the beginning of their career in their early thirties buying homes in metros; bank loans notwithstanding, it cannot be without the support of their family. So whether it is parents, in-laws , siblings - all have a role to play in that home purchase.
Some prefer to buy house in proximity to their extended families. And even those who, due to professional and sundry other reasons, are living in another city or country, are very keen and particular about the 'safety' and 'security' of their parents. "I am looking for a flat for my parents aged 70 and 65 in Gurgaon . I am keen on a place for them which has constant power, water and most importantly , tight security," says Amol Mehta, a US-based NRI.

Rajeev Talwar, the managing director of DLF Universal Ltd, says: "A majority of customers are senior people - in their middle ages and beyond, since only at that time can one have this kind of affordability . One of the major reasons they come to this elite community of DLF apartments, besides exclusivity, is safety and security - something that their children , especially if they are living elsewhere , are very particular."

Vastu compliance and east-facing property are other beliefs that drive the choice of customers. "People usually prefer eastfacing property. As the Sun rises in the east, this direction symbolizes life," Sonica says, adding, "According to vastu principles, the main entrance of a house opening up to the east or the north is considered best."
In fact, there is a new emerging trend of hiring 'astro' architects. Neeta Sinha, an 'astro' architect, has a clientele who are a veritable who's who of Bollywood and the corporate world (like Amitabh Bachchan, Shah Rukh Khan, Kirron Kher, Karan Johar, Punj Lloyd, Kotak Mahindra, ICICI Ventures, Cox & Kings, among others).

http://articles.economictimes.indiatimes.com/2012-07-14/news/32675068_1_festive-season-real-estate-indian-realty-sector

Maharashtra Bill to set up real estate watchdog - Indian Express Mobile

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