Real Estate News No 20

LIC Housing 'Examining' Opportunities in Singapore, Malaysia

CHENNAI: LIC Housing Finance these days said its 'examining' opportunities within the Singapore and Malaysian markets because it seeks to expand its overseas presence.

"We have gotten demands from Singapore and Malaysia. We’ll examine it...", LIC Director and Chief govt V K Sharma told reporters here.

The company within the last 2 years had discovered offices within the Kuwait and Dubai market, he said adding that workplaces were converted into 'representative' office.

Sharma, who inaugurated the fifteenth edition of housing expo "Ungal Illam 2012", said southern region was major contributor for the corporate accounting for a complete business of Rs 4,800 crore.

"Southern region is one in all our strengths. Quite 20 per cent of our business comes from this region... it's regarding Rs 4,800 crore of the Rs 20,000 crore...(registered last year)..", he said.

Noting that the market has become volatile with shortage of provide and demand, he said, "there is acute shortage of reasonable homes.. the demand has not decelerated, the provision has decelerated.. this is often making a peculiar state of affairs..."

"In the business (real estate) market, there's a transparent cut slowdown...", he said, adding that the costs of land in tier II and III cities have gone up substantially within the last 3 years.

"If there would are an honest variety of provide, then the competition pressure would have kept the costs low...that is not there...", he said.

"Our total asset size is Rs 65,000 crore, out of that our retail loan is 97 per cent and also the remaining 3 per cent is for the builders, he said. Of course, it offers a pressure on our margin. We tend to are attempting to create it up", he said.

About the expo, he said regarding 200 builders are taking part within the three-day event.

He said LIC Housing Finance is hoping to grow at 20 per cent this year and has set a disbursal target of Rs twenty 2,000.

Real Estate News No 19

Haryana State Industrial and Infrastructure Development Corporation Finalises Plot Allotments for 51 Comes

CHANDIGARH: Haryana State Industrial and InfrastructureDevelopment Corporation ( HSIIDC) has finalised plot allotments for 51 projects.

This would catalyse investments of nearly Rs 3,000 crore and generate direct employment opportunities for quite 20,000 persons, an officer spokesman said here these days.

The 33 projects to be set-up at IMT Faridabad with capital investments in far more than Rs 2,000 crore, can generate direct employment avenues for quite 16,000 people.

IMT Faridabad, that is strategically located, is being developed over a district of 1,784 acres, he said.

Development works to the tune of Rs 310.56 crore are allotted and therefore the work at web site is in full swing and is probably going to be completed by April 2013.

Nearly thirty five per cent of infrastructure development work has already been completed.

Plot allotments for 8 project to be set-up at Growth Centre Bawal, Rewari, involving capital outlay of quite Rs 650 crore and employment generation potential for quite 2,500 persons, have additionally been finalised, he added.

Besides IMT Faridabad and G C Bawal, allotments for fixing prestigious comes at another estates - IMT Manesar, Industrial Estate Kundli, Industrial Estate Barwala, Industrial Estate Panipat, Industrial Estate Karnaland Gurgaon, have additionally been finalised, he said.

The comes sanctioned for plot allotment encompass numerous fields like automobile parts, footwear, surgical product, home appliances, high-fashion clothes, IT  & ITES, printing press, fertilisers, among others.

These come, largely in producing sector, would provide boost to economy of the region and generate immense employment opportunities, he said.

Sona Okegawa Precision Forgings of Sona cluster would started growth project at Growth Centre Bawal on ten acre plot with project investment of Rs 136 crore.

Multi Kenzai Steels Pvt Ltd is fixing a project for manufacture of Solar Panel Framing system at G C Bawal on plot space of 4.5 acres, he said.

The project to be set-up in joint-venture with Ohmi Industries of Japan would involve capital investment of Rs 47.28 crore, he said.

Real Estate News No 18

SEBI Bars NGHI Developers from Collecting Cash from Investors

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MUMBAI: Capital market regulator SEBI these days barred NGHI Developers and its promoters from collecting public cash and accessing the securities market.

"NGHI Developers India Ltd shall immediately stop collecting cash, directly or indirectly, from investors underneath the plans or schemes offered by it...or launch any such any plans or themes within the nature of a 'collective investment scheme," Sebi said in its order.

It has come back to its notice that the Jaipur-based company was soliciting funds from public for purpose of developing plots of land through its plans.

However, on prima facie it appeared that NGHI is expounded to a different company -- Nicer Green Forests Ltd -- that is underneath the regulator's probe.

It was found that the corporate is permitting 'Nicer Green' substitute the certificates issued to Nicer Green's investors with the bonds of NGHI, Sebi said.

It seems that NGHI is getting used by Pipal Singh and Bakshish Singh, administrators of NGHI, as a vehicle to subvert the SEBI order against Nicer inexperienced, it said.

"NGHI has additionally been prima facie found to be launching 'collective investment schemes' in violation of the provisions of the SEBI Act, 1992," it added.

"NGHI, its promoters and administrators are prohibited from shopping for, selling or otherwise dealing within the securities and are restrained from accessing the securities market, directly or indirectly," it said.

Sebi directed NGHI that the cash collected from investors underneath varied schemes ought to be deposited during a separate checking account among a amount of 3 days from the date of the order.

Real Estate News No 17

Revenue Sharing Partnership Between Landowners and Builders on The Increase

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NEW DELHI: Businessman Vijay Gupta has accumulated such a lot land in Gurgaon over the years that he's left with 1,500 acre even once selling huge tracts to builders because the Delhi's suburb has grown into a worldwide business hub. Finding it tough to dump the land, Gupta has joined hands with builders and given them the rights to create the property on his land on a revenue share basis.

Gupta is simply one of many land aggregators who have turned developers.

"Land homeowners see an upside in holding on to their land and doing such joint developments instead of selling. Returns are higher this fashion," says Anckur Srivasttava, chairman of GenReal Property Advisers.

Gupta, chairman of Orris Infrastructure, recently bound with the Noida-based the 3C Company for a 48-acre parcel of land in Gurgaon. Since Gupta had already taken approvals and permissions to create a gaggle housing project on the land, his partner is in a very position to launch the project in only four-five months. If 3C had bought land on its own, it might have taken a minimum of a year or a lot of to kick-start the project.

Gurgaon-based Sidharth Chauhan of Sidhartha Developers, Sharab Reddy of the Triangle cluster in Bangalore and Prashant Solomon of Chintels in Gurgaon are tying up such agreements with developers to maximise their returns.

"Land costs have shot through the roof, thus developers do not see worth in shopping for land outright," says Sidharth Chauhan, who has been consolidating land for over a decade and is currently developing properties on his own likewise. Within the past, he has additionally aggregated land for Adani's SEZ in Gurgaon.

"Most developers nowadays are already leveraged to the hilt and cannot invest to shop for land nowadays. Joint Development Agreements(JDA) are the sole answer for them," says Amit Bhagat, CEO of raise Property Investment Advisors.

Home sales have dropped by quite 50 per cent over the past year and a 0.5 and banks have turned cautious whereas lending to the world. This has pushed developers into a liquidity crunch, creating it tough for them to shop for land, when they have to launch newer comes so as to sustain their money flows. Many developers have additionally taken huge quantity of debt for construction and different activities.

Real Estate News No 16

Greater Noida Master Plan: Reasonable Housing to Economically Weaker Sections

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NOIDA: The Master arrange 2021 earlier provided for less than 5% housing for EWS and LIG classes, however currently the authority has increased it to 20-25%. The choice was taken when considering the actual fact that larger Noida being an industrial township can got to fulfill the long run demand for reasonable housing units for workers operating in industries.

Apart from housing, the revised master arrange has marked sites and locations for solid waste disposal, Sewage Treatment Plants (STP), expressways, Metro, railway station and bus terminals on the land-use arrange.

The Authority, in its earlier Master arrange, had proposed for development of larger Noida with a projected population density of 54 persons per hectare, but this proposal was turned down by the design board. This projected population density varied with what’s laid down within the NCR Regional arranges 2021.

Making changes to the land-use arrange of larger Noida Authority, the NCRPB has deleted the realm demarcated as proposed future urban sable areas adjacent to larger Noida within the earlier master arrange. "The locations for high-tech cities shown on the land-use arrange have additionally been deleted," said the official.

To ensure sustainable development within the larger Noida region, the design board has directed the Authority to arrange an Environmental Master Arrange. This arranges can get to be an integral a part of Master arrange 2021. To take care of optimum inexperienced cowl, the design board had instructed the Authority to take care of minimum inexperienced space in larger Noida at 16% Factor Questionnaire of total urbanisable space. 

The authority, that had earlier additionally included 'institutional inexperienceds' below the ambit of total green cowl, can currently make sure that this class is excluded in calculating total inexperienced cowl of larger Noida. Out of a complete urbanisable space of 22,255 hectares, the minimum inexperienced space to be maintained by the Authority is 3,580 hectares. This inexperienced cowl are preserved and guarded and not subjected to any land-use amendment within the future.

In the earlier master arrange, larger Noida Authority had included industries engaged in production of sulphuric acid, nitric acid, caustic soda and pesticides among the list of permissible industries. Upon directions from the board, the Authority has deleted the names of those polluting industries from the list of industries that may be established within the region.

Real Estate News No 15

Future Capital Sells Myra Mall Management Company to Providence Academy

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MUMBAI: Future Capital has announced the sale of its wholly-owned subsidiary Myra Mall Management Company to Jaydev ModyownedProvidence instructional Academy. in a very statement to BSE, Future Capital said that the purchaser has acquired all the assets and liabilities of Myra Mall for an enterprise price of Rs 98 crore.

The sale comes amidst reports that the govt has deferred the clearance of Warburg Pincus' purchase of Future Capital, saying the Indian finance company should 1st hive off its wholly-owned land subsidiary.

ET had reported on Tuesday that FIPB had told Future Capital that it cannot induct an overseas investor within the holding company if it continues to possess a downstream arm engaged in land activity. Indian rules don't allow foreign investment in land. However, foreign investors will invest in construction comes subject to strict riders.

Real Estate News No 14

Groffr's Founders Sandeep Reddy and Vikhayat Srivastava Says Group Buying Gets Better Discount in Real Estate

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NEW DELHI: cluster shopping for could be a nice plan to urge an honest value on any product. And if that product happens to be once during a lifetime reasonably big-ticket purchase, sort of a house, a gaggle of consumers will bounce back discounts than people. With this vision in mind, Sandeep Reddy and Vikhayat Srivastava co-founded Groffr in July 2010.

Says Reddy, "We saw a chance to urge a far better deal for a gaggle of property consumers. Once you have got a gaggle of 3, five, eight or a lot of individuals, you'll negotiate higher with the builders."

Potential consumers of latest housing comes finish up at the location groffr.com, type teams to shop for during a specific housing project. Groffr, the name derived from 'group offer', then approaches the builder on behalf of the cluster of consumers to urge discounts. Says Reddy, "it's a win-win for each, the buyer, who gets a far better deal and therefore the seller, whose inventory moves quick."

Indian Angel Network place in concerning $1 million to fund the start-up and currently it's expanding horizons to incorporate rating of realty brokers and use Facebook as a platform to assist individuals rent a flat. Says Reddy, "group shopping for is feasible in new comes however not for individual homes up for re-sale. Those that have interacted with us and are shopping for individual homes or flats communicate their expertise with broker’s basis that we tend to rate them-five star or 3 star." Once groffr. Comgets a rating of a broker, it drives business to the broker and shares half the brokerage for deals concluded.

The other half, renting, is essentially driven by brokers, where people or families could approach brokers to rent a house. Groffr is targeting people (like students) using Facebook to assist realizes flat mates!