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

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

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

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

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

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
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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

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

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