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| Saturday, September 04, 2010 |
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What to look for in a Location hire?
By shootfactoryuk @ 10:50 AM :: 9 Views ::
0 Comments ::  :: Property
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Location hire is not just about the location in terms of its geographical proximity but also the type of location, its looks and facilities. It is important to find a location that meets the identity of the client who is looking to use the location.
In addition it would be beneficial if the location is proximal and convenient to the catered audiences. The asthetics of the location is important for the brand and designers. Choosing an event management team would ensure greater price and quality options. But don't forget to have a set of people for contingency management as occasions are always demanding and no matter how hard one tries to make things perfect, there might be loose ends.
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| Friday, September 03, 2010 |
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| Friday, September 03, 2010 |
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| Tuesday, August 31, 2010 |
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Commercial Real Estate Outlook Optimistic
By siagour @ 7:13 AM :: 5 Views ::
0 Comments ::  :: Property
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Once hailed as the growth engine of the real estate industry, commercial realty suddenly became a liability for developers and the ready prime projects had no takers, during the recent economic slowdown.
With a shortfall in demand and liquidity crunch, ‘affordable housing’ gained importance and the focus of even commercial realtors took a shift. Many of the upcoming commercial property projects came to a standstill and instead, more affordable housing projects were launched.
While office spaces remained unoccupied, the retailers in malls bargained hard to renegotiate prices and to include minimum guarantee clauses in the agreement, or enter into revenue sharing agreements.
As per a report by real estate consultancy firm, Cushman & Wakefield, the year 2009 ended with a 29 per cent decline in space absorption, compared to the previous year. The total absorption of commercial space across major Indian cities stood at 26.3 million sq ft in 2009, compared to 37 million sq ft in 2008. Mall supply during 2009 fell short by 60 per cent, as only 5.7 million sq ft of space was delivered across major cities in India. The report points out that the poor demand from retailers forced developers to defer the expected mall supply of around nine million sq ft.
Of the proposed 44 malls at the beginning of the first quarter (January-March), about 18 were delivered by the year-end. The overall vacancy rate for the major cities as of December, 2009, was 17 per cent, compared with a 16.7 per cent vacancy rate in December, 2008.
Mumbai had the largest share of mall supply, in 2009, at 1.8 million sq ft, followed by Hyderabad (1.1 million sq ft) and the National Capital Region (NCR) (0.9 million sq ft). Bangalore saw the highest mall supply deferment, with 80 per cent less mall supply than what was expected. This slowdown in mall construction reflected a negative growth indicator, for the commercial property in the area.
However, the projection for the year 2010 and ahead, suggests that the worst for commercial real estate could be over. According to a report by the DTZ, a real estate services group which undertook a study to examine how this recovery will come about and analyse what this means for the future, the recovery appears visible and inevitable . The research report, called ‘The Second Coming’, says that major office markets in India will revive by Q2, 2010, with increased interest from tenants and a downward correction in rentals taking place.
This projected indication of recovery has given commercial realtors in India a much-needed relief, after having weathered a liquidity crunch, slackening demand, piling inventory and falling rentals, for over a year.
Many of them believe that the pace and scale of market recovery will be led by the tier-I cities of Delhi-NCR, Mumbai and Bengaluru. Tier-II cities, such as Kolkata and Chennai, will see a gradual recovery in the later part of 2010, while the Pune market is unlikely to see any major changes.
Please visit:- http://www.magicbricks.com/bricks/city/Commercial_Mumbai_real_estate
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| Tuesday, August 31, 2010 |
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Real Estate in Bangalore seeing Commercial Development
By siagour @ 7:12 AM :: 5 Views ::
0 Comments :: :: Property
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The stretch of the area from the Hebbal flyover upto Devanahalli is abuzz with plans for many commercial projects. The recent Global Investors’ Meet, brought this area into focus. Many industries have evinced keen interest in the three industrial parks that are coming up on 3,000 acres of land in this region and will be ready to occupy by the end of this year.
The widening of the Bellary Road and future connectivity through the planned Peripheral Ring Road (PRR) has also made this area a sought-after one. The PRR is aimed to connect Tumkur Road, Hosur Road, Mysore Road, Magadi Road, Bellary Road, Old Madras Road, and improve accessibility to Devanahalli. This is also spurring interest in residential options around these areas.
According to findings from real estate firms, there are certain locations like north Bangalore that are buzzing with activity. This is because of infrastructure developments like the new international airport, the metro project, flyovers, underpasses and road widening activities, which are encouraging developers who anticipate a growth in demand. “Presently, real estate in North Bangalore is undergoing rapid transformation due to commercialization. Also, it is noticeable that the region has significant residential real estate activity, along with commercial developments.
The availability of land parcels for commercial development is one of the main factors driving development of Real Estate in North Bangalore. The demand is growing with no corresponding supply in the pipeline, apart from the existing tech park here. Other significant factors are the proximity to the airport, road projects and upcoming residential and hospitality developments.
Over 3,000 acres of land, hardware, IT/BT and aerospace parks will be coming up near the international airport. There is also provision to develop residential facility for people working in those industrial plants in about 250-300 acres of land. Some of the leading developers of Bangalore and Karnataka Housing Board (KHB) have been provided land. 100 acres have been allotted to the KHB and 25 acres to private developers. Some of the projects have already been approved and some are under consideration. While 90 percent of the space will be allocated for industrial and commercial activities, 10 percent of the space is reserved for housing.
There are land parcels in excess of 10 acres available in this micro market. The commercial development in Nelamangala and the Greater Peenya project coming up will also have a significant bearing on the development in this region, owing to the connectivity factor. Commuting from Nelamangala has been drastically reduced via the Outer Ring Road and NH 207 that will speed up the commute to Devanahalli.
Along with this, development of infrastructure is taking high priority in this area. For example, there are plans to look at the proposed high speed rail link to the International A i r p o r t , Mono Rail, and development of ring roads on public - private partnership model.
A 4 km-elevated highway will come up between the Hebbal flyover and Yelahanka bypass. There will also be flyovers at Yelahanka bypass and Vidyanagar, two pedestrian underpasses, one vehicular underpass, and a cattle crossing. Totally, there will be 26 bus bays till the airport.
Along with connectivity, the KIADB’s Hardware Park, Aerospace Park, and the ITIR planned here will give a push to residential development around. Localities around Yelahanka, Jalahalli, Doddaballapur Road, and IVC Road along with the BDA’s Dr Shivaram Karanth Layout are some of the areas that will benefit from better connectivity.
Better connectivity will serve residential catchment areas around Hebbal-ORR, Hennur-Banaswadi Road, and Yelahanka-Doddaballapur Road.
For more information visit:- Real Estate in North Bangalore
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| Tuesday, August 31, 2010 |
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Faridabad: Real Estate looking up
By siagour @ 7:11 AM :: 4 Views ::
0 Comments :: :: Property
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Divided into sectors, Faridabad is a well planned city with due regard to government regulations. With Supreme Court’s intervention in commercial and residential activities on roads between Sector 7 and 10, the city expected a boost to the planned development until the downturn. The global slowdown hampered growth of the city with lesser transactions, resulting in a drop in prices, along with a scarcity of funds for development.
Though the market went into a slump, affordable housing, however, kept abreast with market demand in Faridabad. Many real estate developers have launched affordable housing projects in the city to fulfill end user demand. Omaxe, Shiv Sai Infrastructure, Pal Group, BPTP, Triveni Group, RPS, and Ferrous Infrastructure are some of the developers who have launched group housing projects throughout Faridabad. These projects are slated to be completed by 2011. The residential units in these projects come in a price range between Rs 5 lakh and Rs 30 lakh.
Market trend:
A 2BHK CGHS (Cooperative Group Housing Societies) flat’s cost is in the range of Rs 2,600-3,200 per sq ft and the rental value of the same is Rs 5,000-10,000 per month. Haryana Housing board colonies offer a 2BHK flat for Rs 2,500-3,500 per sq ft with their rental value being Rs 5,000-10,000 per month.
The residential real estate market of Faridabad saw a steep drop in the number of transactions in Q4 2008-2009, with transactions dropping by 80-90%, compared to Q2 2008-2009.
The post-recession market is showing some positive signs. With reduction in the interest rates for home loans and the opening of various affordable housing options, property transactions have resumed in the city. Besides, with the Metro project on a roll, property rates are expected to increase further. But there are hardly any buyers in the market.
Apartments are in greater demand compared to plots. Second-sale houses have also taken a back seat, as a number of new projects are being launched every day offering lifestyle homes at affordable prices, reveal market sources.
City forward:
With Metro getting the green light to enter Faridabad, property rates that fell due to the slowdown are now expected to attract prospective buyers.
With the opening of the six-lane Faridabad Bridge, over Agra and Gurgaon canals, a spurt in property prices is expected. A number of private developers such as Ansals BPTP, ERA and Omaxe are coming up with projects near the bridge in Sectors 75 to 89. Moreover, the facility would connect the old city to the upcoming townships in the suburbs, spread over nearly 2,000 acre of land.
Conclusion:
The residential sector has witnessed fluctuations with the downturn and a lack of investor interest, but this little depression is everywhere. The commercial sector of Faridabad has certainly not seen any drastic side effects. Instead, it is backing the residential market along with infrastructure initiatives.
Developers are foraying into Faridabad with new projects. With Triveni Infrastructures having launched five new projects in Faridabad, and some of them fully booked, the city still appears to be a hotspot for developers.
For more information visit:- Real Estate.Magicbricks.com
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| Tuesday, August 31, 2010 |
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Dharuhera - Riding the affordable housing wave
By siagour @ 7:09 AM :: 6 Views ::
0 Comments :: :: Property
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Dharuhera has emerged as a promising destination as far as property in the National Capital Region (NCR) is concerned. As Gurgaon reaches a saturation point in terms of the population it can accommodate, development of infrastructure, residential and commercial real estate, in the adjoining locations are being sought by state authorities as well as private developers to meet the seemingly insatiable need for housing here. Further, development of transport links like the National Highway 8 (NH have ensured a significant reduction in travel time, so much so that executives working in Gurgaon may reside at Dharuhera and not lose sleep over the commute to their workplace.
Dharuhera is situated in the Rewari district of Haryana and is fast emerging as an industrial hub of Haryana. Hero Honda, Lumax and SAB Miller are among the major industries located here. The level of infrastructural and industrial development being higher than most neighbouring areas, a number of Indian corporates and MNCs are making a beeline for Dharuhera. Commercial expansion will naturally entail real estate development - to provide accommodation for those employed in these industries. Moreover, the demand would be for affordable housing options priced under Rs 50 lakh. This is being cashed in by a number of developers like Vipul Group, Bestech and Parsvnath who have launched affordable housing projects in Dharuhera.
The Vipul Group’s “Vipul Gardens” is an affordable group-housing project strategically located on NH 8. This project was launched in early 2010 and is expected to take approximately 30 months to complete. It offers 1, 2 and 3 bedroom apartments in a price range of Rs 15-35 lakh. According to Dipankar Chaudhury, marketing manager of the Vipul Group, “The response so far has been decent considering that the project is still in its early stages and gives reason to be optimistic about the future.” The target end users for Vipul Gardens comprise people employed in the neighbouring industrial areas of Bhiwadi and Rewari, in addition to those working in Dharuhera itself. Moreover, the commercial hub of Industrial Model Township (IMT) Manesar, 24km away, is expected to provide ample clientele for this project.
The Parsvnath Group launched “Parsvnath City”, an integrated township in Dharuhera, comprising three residential projects - Parsvnath Pleasant, Parsvnath Elite Villas and Parsvnath Elite Floors - all expected to be completed within the next two years. While all three projects have residential options available at sub-Rs 50 lakh range, Elite Floors is being tagged as the flagship affordable housing project offering builder floor apartments within a price range of Rs 17-23 lakh. These are G+2 storey apartments covering 240, 300 and 400 square yards. Parsvnath Pleasant and Elite Villas are airconditioned luxury housing options priced at Rs 40 lakh and above.
Bestech City is an integrated township launched by Bestech Developers at Dharuhera on NH 8. Its major residential project is “Bestech Park View Delight”, which comprises 2, 2+study and 3 bedroom multistorey apartments with a starting price range of Rs 18-22 lakh. In addition, Bestech City offers within the township facilities like a nursery and primary school, nursing home, among other.
Residential development in Dharuhera is being driven by the affordable housing bandwagon. While distance from the more developed regions of Delhi and Gurgaon may work against it, the availability of low-cost housing options is expected to bring in the masses due to the rapidly rising property values in Delhi and Gurgaon. The proposed widening and expansion of the NH 8 bodes well for the upcoming residential projects in this locality as it will further cut travel time. Thus, Dharuhera is a locality to watch out for in the next two years, by when most of the current projects are expected to be complete.
For more information visit:- Delhi Real EstateMagicbricks.com
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| Tuesday, August 31, 2010 |
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Affordable housing emerging around city
By siagour @ 7:08 AM :: 4 Views ::
0 Comments :: :: Property
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The gradual economic growth is expected to change India’s income pyramid by creating a sizeable chunk of the middle income segment. This segment is expected to be the primary driver of affordable housing, according to industry analysts.
A KPMG Advisory on affordable housing points out that private developers have been aggressively pursuing affordable housing post the economic slump of 2008. Developers have realized the opportunity and need for affordable housing, and have taken several steps to tap the potential.
Demand from middle income segment
A Knight Frank research on affordable housing estimates that the middle income population in Bangalore will require approximately 3.27 lakh housing units by 2011, which assuming an average unit size of 800 sqft translates to approximately 262 million sqft of residential space.
Approximately, 80 percent of this total middle income housing requirement will be accounted for by the Rs 3-5 lakh income segment. As per survey results, this income group prefers property prices in the range of Rs 13-18 lakhs.
Affordable housing on outskirts
Gauging the rising demand for smaller, yet affordable homes with premium facilities, established builders in the city have announced projects on the outskirts offering homes in the price range between Rs.19 lakhs and Rs.40 lakhs. Improved connectivity linking these far-flung locations to the city centre as well as the development of social infrastructure is creating attractive housing options for homebuyers.
Five major residential BDA layouts have been planned around the city along the planned Peripheral Ring Road (PRR). The five layouts comprise Dr Shivarama Karanth Layout, D Devaraj Urs Layout, S Nijalingappa Layout, K C Reddy Layout and Nadaprabhu Kempegowda Layout. Once completed, these layouts together will cater to housing needs of one lakh people.
Areas where there is industrial activity are a good bet for affordable housing units. This is primarily because of the vast number of those employed in the industries here which make a potential market. Just the way the IT parks propelled a walk-to-work culture, having affordable homes close to the places of work on the outskirts can make this concept work for a different segment of the employed too.
North
Singularly driven by the six lane road to the international airport, this zone is waking up to hectic real estate activity. Peenya, Jalahalli, Yelahanka, Sahakarnagar, BEML Circle, Devanahalli, and Doddaballapur Road will see affordable housing options in the range of Rs 20-25 lakhs. The widened Doddaballapur Main Road and the Hennur-Banaswadi Road are potential locations for affordable housing options in the next two to three years given the availability of large land parcels here. Areas around Devanahalli up to Doddaballapur Road, about 40 km from the city centre, have options in the price bracket of up to Rs 20 lakhs. The upcoming hardware, logistics and warehousing, textile, IT and non-IT SEZs are slated to drive the boom for affordable residences. The Shivarama Karanth Layout has been earmarked along Phase I of the PRR.
South
The Sarjapur Main Road leading to Sarjapur Village, and the Sarjapur ORR, is where most of the affordable residential property activity is centered around. The emergence of quality social infrastructure, with malls and international schools, has created a mix of both luxury and affordable residential options in the vicinities along these roads. The option of owning a budget apartment is also available in localities near Kanakapura Road, Bannerghatta Road, Hosur Road, Anekal, Jigani, Begur, and Electronics City in the price range of Rs 25-40 lakhs.D Devaraj Urs Layout, S Nijalingappa Layout and K C Reddy Layout have been planned along Phase I of the PRR.
East
In the east, the Hoskote Industrial stretch on NH-207 is fast-emerging as a budget home belt. With Hoskote becoming a prime logistics and warehousing hotbed, this locality is expected to reign in more employment. Whitefield and Kadugudi are gradually having a spurt in budget residential clusters with established developers homing in on these locations.
West
Mysore Road, Rajarajeshwarinagar, Kengeri, and Magadi Road have people opting for affordable homes. Along the improved Tumkur Road stretch new industries are setting up bases and hence will fuel the need for budget housing for those employed here. The Kempegowda Layout is slated to be a model one and will be self-sustained having both residential and commercial establishments. All amenities like parks, roads, playgrounds etc as well as educational institutions and healthcare facilities will feature in the layout making it on par with any other township. It is touted to be one of the biggest layouts and will span across 4,814 acres, including 12 villages between Magadi Road and Mysore Road on Phase II of the PRR.
For more information visit:- Magicbricks.com
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| Tuesday, August 31, 2010 |
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Realty Sector puts recession behind
By siagour @ 7:07 AM :: 4 Views ::
0 Comments :: :: Property
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A good indicator of an uptick in the economy is the increased demand for residential and commercial property. That Bangalore is back to humming is evident from the fact that after a long lull, property transactions have picked up considerably in the city. Ditto for the state.
State revenue from stamps and registration in the first four months of this fiscal (April-July 2010) shot up in Urban Bangalore by 68% to Rs 770 crore. With demand from the IT sector looking up, Bangalore now contributes a whopping 70% to the total state revenue from stamps and registration. The available statistics already indicate a sharp increase in revenue and documents registered, compared to April-July 2009. If the trend continues, property rates may also go up across the city in the near future.
Revenue collection in July touched the highest since April this year, with Bangalore (Urban) exceeding its target in July by almost 33%. Its total revenue of Rs 770-crore since April has also exceeded the overall target of Rs 747 crore set till July. High-value properties get a thumbs up. There is every indication that the realty sector has overcome recession and is looking up. Individual figures for document registrations across five zones of Bangalore (Urban) under the district registrars also increased by 6,521 viz-a-viz July 2009.“More properties are being registered in Bangalore Urban. One of the main reasons is that it is the IT hub. There has been no downward trend so far,’’ said official sources in the department of stamps and registration in Bangalore.
Across Karnataka
Revenue across the state has also increased considerably since April, with a total collection of Rs 1,172.56 crore, which is above target and Rs 415.45 crore more than what was collected during the same time last year. Interestingly, collections have peaked despite a considerable dip in the number of documents being registered.
Realty Talk
There’s an increase in property transactions in the city, perhaps because people see this as the right time to encash. Every year, 8-9% price growth must happen but in the past 2-3 years, it hasn’t happened. With increasing demand, we think prices might go up. During recession, buying/selling properties had stopped for a while. There’s also a growing demand for medium-end properties (Rs 1,500-2,500/sqft) than high-end ones. People are also looking for reputed builders in this sector.
For more information visit:- Magicbricks.com
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| Tuesday, August 31, 2010 |
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Metro Pushes up property rates in Gurgaon
By siagour @ 7:06 AM :: 5 Views ::
0 Comments :: :: Property
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The Gurgaon real estate market has witnessed rising property rates to the tune of almost 30% since the downturn of 2008. This was at a time when it was raining affordable properties in other parts of the NCR. So what makes Gurgaon so exclusive and preferred?
Gurgaon has been a preferred destination for a whole lot of people who are employed in the city or even beyond. It has certain unique characteristics. For instance, there are super-premium luxury apartments coming up along the Golf Course Road where values are rising and demand is present. However, for those seeking more affordable options, Sohna Road offers options for the upper-middle class and the lower end of the luxury housing.
CHD has focused on this segment and created a residential housing complex that is ‘master-planned’ meticulously. There is even a transport consultant who has planned the traffic to be underground so that the serenity of the development is maintained. “Gurgaon is an independent town where manager and CEOs live side by side enjoying the same common facilities.
The CEO staying in an “Aralias” and a manager staying in the cooperative group housing societies in Sector 56, have the same hospital, hotel, educational and recreational facilities. The luxuries of life are available to all, the average level of education is high and there is a commonality of thought. You don’t find people fighting on the streets, there are more people joining the queue in malls, etc, and the lifestyle quality is uniform.” This is probably the biggest attribute of Gurgaon, a certain class of living because of the very nature of the city, which grew out a premium commercial real estate boom.
This is just the point. With the exit of investors from the market since the downturn, all projects are attracting end users who want speed of construction, occupancy rates and social infrastructure to match. Features like green buildings are acceptable if they also result in long-term savings as well. As a result, there is greater offtake of projects that promise timely delivery and construction-linked payments.
The advent of the Metro has definitely given a boost to the growth of Gurgaon’s real estate. Places where the Metro has been announced have already seen a jump in values. Also the enhancement of the sector road infrastructure has been another boost. With the Metro walking the talk, citizens are more inclined to believe the commitment of the authorities in keeping to the sector roads schedule as well.
The only problem with the area is the growing traffic congestion with increased occupancy. A few initiatives in public transport have begun in places such as the Netaji Subhash Marg and along the MG road. But these are still few and far between and have not impacted the use of private vehicles significantly.
The extension of the Metro line from Gurgaon to Central Secretariat shortly is expected to provide an added impetus to the development of the city and the prospects of residential property.
For more information visit:- Magicbricks.com
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