India Likely to Have Housing Index Soon
Source: News Published in Media
Like her sisters across the seven seas, India, too, could have her own housing starts index.A technical advisory group (TAG) set up by the Reserve Bank of India(RBI) has recommended the creation of a Housing Start-up Index (HSUI)to be based on newly-built residential units in urban India andcompiled on a quarterly basis. The central bank is like ....read more
Floor-wise registration likely to increase property prices in Haryana
Real estate business is likely to take off again in Haryana following the state government decision to allow floor-wise registration of the houses falling under municipal limits, Huda sectors and Town and Country Planning licensed areas.Besides making people in Gurgaon, Faridabad and Panchkula the legal owners of their part of the house, the move will also help the state earn r ....read more
SEZs get one more year to start working
March 12, 2009
Special economic zones (SEZs) now have a four-year breather to startoperations. The government has liberalised the norms and is granting aone-year extension to incomplete SEZs over and above the stipulatedthree-year period. The United Progressive Alliance (UPA) governmentcreated SEZs as tax havens for the exporting community under the SEZAct that came into eff ....read more
New Delhi railway station project hit by slowdown
March 18, 2009
The slowdown appears to have taken its toll on the Rs 9,000 crore NewDelhi railway station modernisation project. For its revised request for qualification (RFQ) invitation, theRailways received only eight bids for the project. In the first half of2008, the Railways had received 13 bids for the project. The 2008 tender was cancelled because there was confusion ....read more
Escrow in Real Estate- Comments by Ramesh Menon (Founding Director- Certes)
Only the relevant portion is produced here:
1. Do you think the realty developers should have an escrow account for their projects (especially residential) ? – In the best interest of the consumers, each developer should have a project specific escrow account, to ensure that the payments made by the buyers against their specific property is utilized towards the developm ....read more
Certes participates in HR Summit
Certes team participated in the HR Summit held in Epicentre, Gurgaon on 5th March 09. Summit Topic: ROLE OF HR IN THE DOWNTURNSome snipets of the Summit
Certes Executive playing Mentor role
Certes Executive in Audience
Organizers welcoming
Speakers in Summit
Audience in Summit
Round table discussionTopics covered in the Summit:1. Maintaining employees mo ....read more
Dedicated Power plants for NCR
The Centre proposes to set up two ultra mega power projects of 4,000 mega watt each to provide dedicated power supply to the NCR coz power shortages may short circuit the multi-billion dollar economic activities planned by the government in the National Capital Region (NCR) surrounding India's capital – Delhi. The ministry of urban development has sent a letter to the minist ....read more
Gurgaon, Mumbai residential mkts likely to see oversupply
Source: Economic Times
12th April 09
The residential sector, which has already seen a 15-20% price correction in markets across the country this year, is going to witness a significant residential supply over the next 12 to 18 months in two key markets Mumbai and Gurgaon (NCR). The direct implication of the over supply will be that the rentals will come down drastically wh ....read more
Ramesh Menon stepped into realty four years back
Article in Realty Plus magazineEdition: November 2005Breaking New Grounds
Ramesh Menon, Strategy and Communication head of Gurgaon-based real estate consultancy firm, ‘Homz ‘R’ Us’, believes in bringing the corporate culture into this largely unorganized sector.
A boss sends one of his sales persons to an island to sell shoes. The man comes back worn out and proclaims that s ....read more
Small is beautiful for realtors
Source: The Economic Times
Bangalore Builders Are Now Focusing On Govt Staff And Those With Secure Jobs
BANGALORE'S upscale and high-end builders are talking the Nano language and revisiting the drawing board to chase the new target market: sarkari babus and professionals in sectors promising job security.
Bangalore's realty market, which has mirrored the IT outsourdng story ....read more
Liquidity forces Hospitality assets on Sale
Inputs of Ajay Dabas (Founding partner- Certes Realty Ltd.) to a print media dailyDated: 13th April 09
A large number of developers have opted to to sell off their hotel projects, land assets or other commercial projects in order to raise funds. The list includes the realty biggies like the DLF, Unitech, Parsvnath as well as other smaller developers.
Most developers, ....read more
Hudco plans Rs 14,700 cr. sanction for housing sector
Date: 30th April 09The housing and Urban Development Corporation (Hudco), the government-run institution that caters to housing and urban infrastructure requirements plans to release Rs 6,800 Cr. in this fiscal year, plan is to sanction Rs 14,700 Cr. in 2009- 2010. Memorandum of understanding (MoU) has been signed with the ministry of housing and urban poverty alleviation for ....read more
DELHI MASTER PLAN MPD -2021 WINS ISOCARP AWARD
The blueprint of the Delhi master plan MPD 2021 submitted by the DDA to International society of City and regional planners (ISOCARP) has been selected to be awarded recognition for the master planning for Delhi Megapolis, for the coming years. It has won the coveted "2008 ISOCARP Award for Excellence for Master Plan for Delhi 2021?.
The proposal submitted by DDA is one amongs ....read more
South Asian University In South Delhi soon
Moving towards the setting up of another world class University in Delhi, the DDA has already started putting the wheels in motion.
In a public notice dated 11.04.09, the DDA has proposed modification of the Delhi master plan 2021 document, and has invited suggestions and objections. The DDA communiqué says- “ It is proposed to change the land use of an area measuring 100 acre ....read more
Delhi Master Plan -2021 reviewed
Mr. Jaipal Reddy, Minister for Urban Developement reviewed the Delhi Master Plan (MPD-2021). Image showing Mr. Reddy reviewing the Master plan of Delhi-2021
This indicates the progress in MPD-2021
....read more
Realty Plus Conference on Facility Management in New Delhi
Source: Realty PlusJuly 31, 2009
After the grand success of real estate conclave and awards in January 2009, Realty Plus, India’s leading real estate magazine, is organising a facility management (FM) conference at Hotel Taj Ambassador in New Delhi today.
Realty Plus Business Facility Management Conference (RPBFMC) would bring facility managers of leading Indian companies, pr ....read more
“Never mind. Suffer for some more time” – says Supreme court
By Ruchika Bhardwaj
The title of this article is not supposed to scare, but to point out the objectivity with which the highest courts are tackling the many relevant, as well as frivolous cases filed in the Supreme court, related to the Delhi Master Plan MPD 2021.
During last week, a three Judge bench of Justice B Sudershan Reddy, P Sathasivam & G S Singhvi declined t ....read more
DDA wants private players to develop houses
The Delhi Development Authority now wants private players to take over development work in the Capital. Struggling with a shrinking land pool and rising housing requirements, the hurdles in acquiring vacant or agricultural land and disputes over determining and paying compensation after acquisition, DDA has sent a plan to this effect to the Union Urban Development Ministry. Sen ....read more
Real Estate regulator in India – A Perspective
I entered the realty industry on a promise, in 2005. As someone with a prolonged stint in the corporate world, I was always impressed with the numbers, esp. the size of the market, the employment & innovation opportunities, the healthy growth rate, the pent-up demand and the investment opportunities.
However, the last 5 years haven’t been exactly as it was planned, both ....read more
Little bit of sunshine
Source: Financial Chronicle
June 24 2009 10:27 hrs IST
Affordable housing has given residential segment a leg up but commercial property developers are still not out of the woods.
The demand for affordable residential units may have witnessed an uptrend in the recent past, but commercial real estate refuses to show signs of revival.
“The demand in the residential sector may ....read more
HSIIDC plans logistic park along Mumbai corridor
August 26, 2009Haryana state industrial and infrastructure development corporation (HSIIDC) has signed a memorandum of understanding (MoU) with Dedicated Freight Corridor Corporation of India Limited (DFCCIL) for setting up a multi-logistic park along the Delhi-Mumbai industrial corridor, reports Financial Express.
The endeavour will provide logistics support to various compa ....read more
HSIIDC plans logistic park along Mumbai corridor
August 26, 2009Haryana state industrial and infrastructure development corporation (HSIIDC) has signed a memorandum of understanding (MoU) with Dedicated Freight Corridor Corporation of India Limited (DFCCIL) for setting up a multi-logistic park along the Delhi-Mumbai industrial corridor, reports Financial Express.
The endeavour will provide logistics support to various compa ....read more
Stop patronising illegal constructions, SC tells authorities
Source: ETDated: 27th Aug. 09
EXPRESSING serious concern over mushrooming illegal constructions, the Supreme Court has asked the government to stop giving support to builders and companies to check the chaotic situation across the country. The court said that the actions of the political parties, overriding judicial orders on illegal constructions, have caused irreparable dama ....read more
Urban village shops back but Hope is at Stake
Source: TOIDated: 28th August 09
They have been desealed and enjoy immunity till December even as they wait for an official reprieve.
The bright lights are back in the heritage bazaars of Delhi. A year after MCD started desealing shops in the commercial areas of urban villages, the shutters are being lifted as shops reopen in new avatars. While Olive has opened its doors once ....read more
Realty players return to land acquisitions
Source: Realty PlusSeptember 01, 2009Following a slew of new launches in the affordable housing segment in the past few months, real estate developers in the country are once again showing interest in land acquisition. They are now also expecting "some price escalations" for residential properties, with easier liquidity and overall positive market environment in the second half ....read more
Real estate regulator Bill tabling likely at winter meet
September 11, 2009The draft for the ambitious real estate regulation bill, aimed at facilitating growth and promoting a transparent, efficient and competitive real estate market in the country, is being fine-tuned by the government. The final draft bill is expected to be ready for submission by the winter session of Parliament, reports DNA.
According to the report, the govern ....read more
Shri Veerappa Moily & Ramesh Menon to address at GIREM on 17th September
....read more
Property prices up on Delhi metro route: study
Source: Realty PlusDecember 07, 2009
Real estate values have reached new heights along Metro routes in Delhi, a study has found, revealing that a Metro station in the locality pushes up prices by at least 22 per cent. At the Urban Mobility Conference held in New Delhi, professor H M Shivanand Swamy of the Centre for Environment Planning and Technology (CEPT) in Ahmedabad said ....read more
Realty developers avoid tier II, III cities, prefer Delhi
Source: Indian ExpressDated: Nov 13, 2009
With price corrections and softening of interest rates setting in, real-estate developers are keen on investing in Tier I cities, or metros such as Delhi, Mumbai and Bangalore. Almost all realty developers are focusing back on Tier I cities as they believe that as of now, expanding to medium and small cities is on shaky ground. Some i ....read more
Dipp plan to drop FDI realty lock-in rejected
Curb Guards Against Speculation, Capital Flight, Dept toldSource: Economic TimesDated: 19th Jan. 2010
The finance ministry has rejected a proposal by the Department of Industrial Policy and Promotion (Dipp) that had suggested dropping the mandatory three-year lock-in for foreign direct investment in the real estate sector, affecting the prospects of the sector raising funds fr ....read more
Pact for new airport on Jaipur-Delhi highway
Source: TOIDated: 24th Jan. 2010
Rajasthan Aviation Infrastructure India Private Limited (RAIPL) signed a partnership agreement with Fraport AG (Frankfurt Airport Services Worldwide, Germany) on Saturday. RAIPL is building an aerotropolis project (airport) on Jaipur-Delhi highway.
Fraport is a full-service provider in the airport management field and owns the Frankfurt airpo ....read more
Metro to connect CP with Gurgaon in July
Source: Times of IndiaDated: 25th May 10
NEW DELHI: The countdown has begun. As Delhi Metro Rail Corporation (DMRC) gives the final touches to the Gurgaon section before the line opens in a few weeks, the Central Secretariat-Qutub link, which will connect Gurgaon to the heart of the capital, is also progressing very fast.
Before the section becomes operational in July, severa ....read more
DLF slashes rates by up to Rs 13 lakh; others likely to follow suit
February 25, 2009
In a move that may put pressure on other players to follow suit, DLF,India’s largest property developer, announced a reduction of up to Rs13 lakh in the prices of flats at its new residential project inChennai. This is the third city, after Bangalore and Hyderabad, whereresidential projects with reduced price tags have been announced in thelast few weeks. Fur ....read more
MCD extends benefit of liberalised building norms to Lal Dora
The Municipal Corporation of Delhi said it has extended the benefitof liberalised building norms to the Lal Dora and extended Lal Doraareas in the capital in keeping with the Master Plan-2021.
“Since MPD-2021 has revised the development control norms forresidential plotted development, MCD has extended the benefit ofliberalised norms to the areas falling within Lal Dora and ....read more
Govt. asked DDA to build 40,000 houses every year
DDA first built flats in 1967, since then it has sold just about 4 lacs
flats. More than 5 Lacs applications were received for just 5000 falts.
Delhi’s housing shortage is projected to touch 24 lacs units by 2021,
Looking at the shortage, DDA is asked by center to make budgetary
provisions for that and construct 40,000 houses a year, starting next
year.
....read more
Co-op banks’ limit for housing loans raised
August 17, 2009
State and central co-operative banks can now provide housing loans up to Rs 20 lakh to their customers.
In a notification issued by the Reserve Bank of India on Thursday, the central bank allowed State and central co-operative banks to provide housing loans of up to Rs 20 lakh, up from Rs 5 lakh permitted before.
The RBI has also raised the limit of State and ....read more
Some unauthorised colonies to get lucky in Delhi
Date" 13th Aug. 09
Does it get luckier than this? Is this the human side of the Delhi government, or it’s “majboori” or the way forward by rewarding the wrong, and entangling the right in all things legal.
The much awaited MPD 2021 is yet not off the block, towards development, but, the various interest groups have surfaced to express legal & human interest stories to defer d ....read more
Developers check out
Apr 22 2009 15:43 hrs IST
DLF, Omaxe, Unitech and Parsvnath have put ambitious hotel projects on the block but prospective buyers find valuations too high.
A couple of years ago the key words for a developer were ‘acquisition’ and ‘project launch’; today, they are ‘cash crunch’ and ‘distress sales’. Following the prolonged economic slowdown, more and more developers are selli ....read more
Affordability Trap
Source: Finacial ChronicleDated: 17th Sep. 09Dream homes for many may turn a nightmare as several projects could be delayed in the absence of mandatory government clearances before the great economic doom caught up with the markets in general and the real estate sector in particular, life for developers was relatively cushy. High-priced houses were being hawked as if there was ....read more
DDA denotifies colonies in South-west-east Delhi
At a meeting chaired by the Lieutenant Governor of Delhi, the Delhi development Authority (DDA) decided to denotify several areas of South, West & East Delhi. As per reports received through PTI, this move would pave the way for civic agencies like MCD to extend their services to these areas. Some of the areas listed for denotification include colonies like Masoodpur, Mahipalpu ....read more
RUB DELHI - 17 new pleasure points
Dated: 8th Dec. 09
Nancy Singh
For long, Delhi has been grappling with snarls and jams at the various railway crossings in the city. There are 17 Railway under bridges (RUB) at various stages of construction in Delhi today. Finally, the quandary of under OR over bridges seems to be solved.
While reviewing the traffic scenario, the Delhi Urban development & Finance ....read more
Unitech Withdraws $700m FCCB
Source: Economic TimesDated: 20th Jan. 2010
Department Of Economic Affairs Had Refused To Give Waiver From Three-Year Lock-In Must For Such BondsUNITECH, India’s second-largest real estate company, has withdrawn its proposal to raise $700 million (Rs 3,200 crore) through foreign currency convertible bonds (FCCBs). The Indian realty segment was hit bad by the recent financial s ....read more
Plan panel convenes meet on PPP in state highways on Monday
Source: Economic TimesDated: 4th July 10NEW DELHI: The Planning Commission will host a one-day conference here on Monday to attract public-private partnerships (PPP) for developing state highways. The conference would be attended by Planning Commission Deputy Chairman Montek Singh Ahluwalia, Road Transport and Highways Minister Kamal Nath and ICICI Bank CEO and Managing Directo ....read more
Expressway work finally set to start
Source: Hindustan TimesDated: 30th July 10
The proposed 150-metre wide and 18-km-long Northern Peripheral Road (NPR) Expressway is finally set to take off. The expressway was stuck in a legal wrangle between the government and the people whose houses needed to be demolished to construct it. The Haryana government has formally approved a budget of Rs 132 crore for the project t ....read more
FAR raised, Noida set to grow taller, greener
More Flats Soon As Ratio Up From 2.5 To 3Source: Times of IndiaDated: 2nd Sep 10
Noida: Noida is set to grow vertically, and if all goes to plan, get a greener and more resident-friendly look. The New Okhla Industrial Development Authority (Noida) has increased the floor-area ratio (FAR) — the ratio between total built-up area and area of land on which the building is construc ....read more
Metro all set to land at IGI by Sept-end
Dated: 13th Sep. 10Source: TNN
NEW DELHI: The much-awaited Airport Express Line is all set to be opened for public use by September end. Trial runs on the 20-km long stretch have finally started with trains being run at an all-time high speed of 135 kmph, which is the fastest for any Metro in the country. The trial runs mark the completion of construction of the Line as all ....read more
Gurgaon will soon get its own Airport Metro line
Source: Times of IndiaDated: 7th Oct. 10
GURGAON: After Delhi, Gurgaon could be the next city in India to get a high-speed Metro connectivity to the international airport. The Express Metro will run between IFFCO Chowk and the integrated domestic and international airport in the Capital.
DMRC spokesman Anuj Dayal said that a feasibility study and preparation of a detailed pr ....read more
Re/Max in talks with banks to forge joint venture entity
NEW DELHI: Real estate brokerage firm Re/Max India on Friday said it is in discussion with a public sector bank and two private sector lenders to forge a joint venture entity in the largely unorganised space.
"We are talking to a public sector bank and two private sector banks to enter into a joint venture initiative," Re/Max India Director Sam Chopra told media here. Chopra ....read more
1L plots in Gurgaon, only 55% occupied
Source: Times of IndiaDated: 15th Dec. 10
In a door-to-door survey carried out by the Gurgaon district administration for its voter's list updates, it was found that as many as 45 per cent plots across old and new Gurgaon (existing 57 sectors) remain unoccupied.
These vacant plots, according to the administration, include even those which have been handed over two decades ag ....read more
Govt clears plan for 60 solar cities
Source: Financial ChronicleJan 26 2011Rs 100 crore has been allocated for the schemeThe Centre will kick off an ambitious scheme to develop 60 solar cities in two years. It will be done in collaboration with city corporations, municipalities and district councils. A token amount of Rs 100 crore has already been allocated for developing the solar cities aimed at reducing demand ....read more
Land acquisition policy drafted
June 01, 2011Prime minister Manmohan Singh-led UPA government has drafted an ambitious pro-farmer policy to halt their exploitation. This is due to taking the protest by farmers in several parts of the country over inadequate compensation for their land seriously."In consultation with a section of state governments and a study of the dispute raised by farmers, we have drafted ....read more
Residents Fight Together Against Northern Peripheral Road (NPR)
By akansha, Section Gurgaon News Dated:26th June 2011The residents of Sai Kunj in Choma village have joined in the ongoing legal battle against the state government in connection with the land acquisition for the Northern Peripheral Road (NPR).The litigants had moved court against the state governments decision to acquire this colony to be developed as HUDA Sector 110-A in orde ....read more
RIL, Citigroup, HDFC, Philips move out of CP, Delhi
Source: Financial Chronicle13th April 09Slowdown has another victim. An area that was once the address to flaunt on your business card is now struggling to attract business. New Delhi’s central business district, Connaught Place (CP), is seeing an exodus.Companies are leaving CP for cheaper destinations such as Gurgaon and Noida, blaming high rentals and poor upkeep of the buil ....read more
Two new Power plants to be set up in North West Delhi
Source: Hindustan TimesDated: 20th June 09Delhi continues to reel under long power cuts, decks cleared for 1400 MW plant near Mundka
After months of deliberation, the Delhi Development Authority has finally allotted land to BSES, the private electricity distributor, to make a 1400-MW power plant in West Delhi. The DDA's technical committee, in its latest meeting two weeks ag ....read more
Raheja bags 500 cr Delhi slum project
Source: ET BureauDated: 6 Oct 2009
Raheja Developers, in a move that may see more such projects in the national capital resulting in better living conditions for urban poor and thousands of crores of businesses for builders. DDA has awarded 5.22-hectare , or 13-acre , project at Kathputli Colony near Shadipur Depot in west Delhi to Raheja Developers for Rs 6.11 crore, a DDA s ....read more
AFFORDABLE HOUSING - Now, a flat in Gurgaon for less than Rs 16 lakh
Source: HTDated: 24/08/09
Here is a great opportunity for those who could not afford their dream house in Gurgaon because of the sky-high prices being offered by private developers. Under its new `Low-Cost and Affordable Housing policy', the Haryana government has not only allowed private developers to construct a greater number of apartments per acre of land, but also has fix ....read more
RIL's Haryana SEZ watered down
Source: Realty PlusJuly 20, 2010
The original concept of a 25,000-acre set of two Special Economic Zones (SEZ) proposed by Reliance Industries Ltd (RIL) in Haryana four years ago has been amended, with watered-down features. Reliance's request for a change in the concept of the project following its failure to aggregate sufficient land in Gurgaon and Jhajjar, and due to the ec ....read more
Haryana changes flat registration norms
Source: Realty PlusDated: August 16, 2010
The urban local bodies department of Haryana has come out with new guidelines for registration of independent floors within the area of municipal corporations or councils or committees of the state.
Urban local bodies minister Mahender Pratap Singh said the registration of independent floor would be allowed in case of the residenti ....read more