Tag Archives: real estate

2020 तक आठ प्रमुख शहरों में होगी 41.56 लाख घरों की मांग, डेवलपर्स नहीं कर पाएंगे मांग के अनुरूप आपूर्ति

देश के प्रमुख आठ शहरों में घरों की मांग बहुत अधिक बढ़ने वाली है। कुशमैन एंड वेकफील्‍ड द्वारा जारी ताजा रिपोर्ट में अनुमान जताया गया है कि शहरी क्षेत्र में घरों की मांग 2020 तक 41.56 लाख यूनिट की होगी, इसके विपरीत निजी डेवलपर्स केवल 10.23 लाख यूनिट की ही आपूर्ति कर पाने में सक्षम होंगे।

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यह आठ शहर हैं- अहमदाबाद, बेंगलुरु, चेन्नई, दिल्ली-एनसीआर(एनसीटी, गाजियाबाद, फरीदाबाद, गुरुग्राम और नोएडा), हैदराबाद, कोलकाता, मुंबई औश्र पुणे।

रिपोर्ट के अनुसार 2016-2020 के दौरान प्रमुख आठ शहरों में कुल मकानों की मांग लगभग 42 लाख यूनिट रहने का अनुमान है। इसके अनुसार निजी डेवलपर्स द्वारा इस दौरान निर्माणाधीन व योजनागत 10 लाख मकानों की आपूर्ति किए जाने की उम्मीद है।

सबसे ज्‍यादा मांग दिल्‍ली-एनसीआर में रहेगी, यहां 2020 के अंत तक करीब 10 लाख यूनिट की मांग होगी।, यह भी अनुमान है कि सबसे ज्‍यादा मांग एलआईजी (15 लाख रुपए से कम) मकानों की होगी।, 2020 तक तकरीबन 19.8 लाख एलआईजी यूनिट की मांग का अनुमान है, इसमें प्राइवेट डेवलपर्स केवल 25,000 यूनिट की आपूर्ति करेंगे।, इसी प्रकार एमआईजी (15-70 लाख रुपए) मकानों की मांग 14.57 लाख युनिट की होगी, जबकि इसके विपरीत आपूर्ति केवल 6.47 लाख यूनिट की रहेगी।
कुल हाउसिंग आर्पू‍ति में 63 प्रतिशत हिस्‍ससा एमआईजी मकानों का ही होता है।

Real estate price slash down due to Modi’s crackdown on Black Money

India’s property market is balanced for further decreases as Prime Minister Narendra Modi’s turn to take action against unaccounted riches harms one of the key strategies that purchasers utilize to buy land.

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CLSA Asia-Pacific Markets, Credit Suisse Group AG and Nomura Holdings Inc are evaluating that property costs will fall further, in the wake of tumbling 20 for every penny in the previous three years. India will pull back high-section banknotes in the country’s greatest crackdown against debasement in very nearly four decades. The move is a hit to the act of putting resources into land utilizing untaxed salary, privately known as dark cash, which is normally buried in real money.

“Since dark cash assumed a part in land exchanges, this crackdown is probably going to hurt the land advertise, which is as of now reeling under high stock in top level urban areas, for example, Mumbai and Delhi,” said Sonal Varma, a business analyst at Nomura.

The S&P BSE India Realty Index, involving 11 property stocks, dove as much as 16 for every penny, the greatest drop since 2009, preceding shutting down 10 for each penny. DLF LtdBSE – 5.01 %, India’s biggest engineer, fell 17.3 for each penny while Oberoi Realty LtdBSE – 5.78 %, the second-greatest, dropped 9.7 for each penny. Indiabulls Real Estate LtdBSE 0.96 % declined 18 for each penny.

Unaccounted riches represents as much as one-fifth of the Indian economy, as indicated by Ambit Capital. Property and gold will see the greatest negative effects as these are normally viewed as the most ideal approach to convey such cash, CLSA said in a note to customers. Property costs could fall 10 for each penny to 20 for each penny while the effect ashore costs will be greater, CLSA said.

Five hundred rupee ($7.5) and 1,000 rupee bills will stop to be legitimate delicate from Wednesday, and those available for use will must be stored in banks, Modi said in an unscheduled deliver to the country. The progression by Modi, who is drawing nearer the midway sign of his term, is an endeavor to satisfy his race guarantee of checking duty avoidance and recouping unlawful wage stashed abroad. A one-time opportunity to tell the truth on unaccounted riches prompted to announcements of just around 25 billion rupees in expense a year ago, while a pay revelation program this year had met with a blended reaction.

Information gave by Mumbai-based Liases Foras Real Estate Rating and Research Pvt. demonstrate the land business represents an expansive share of illegal arrangements in the South Asian nation, with an expected 10 to 15 for each penny of exchanges finished with dark cash. Arrive costs may drop as much as 40 for each penny while extravagance home deals will drop and costs will stagnate for the following two years, as indicated by assessments from Pankaj Kapoor, organizer of Liases Foras.

“This is a general positive in the long haul,” Kapoor said in a meeting. “There will be fleeting agony yet it was a panacea that was required.”

Modi’s turn is probably going to effect land and thusly concrete and metals segments as well, Credit Suisse said in a note on Wednesday. Moneylenders that have introduction to land designers and some non-bank back organizations will likewise be hit. Banks that have loaned cash to such designers may see a spike in their non-performing resources, Credit Suisse said.

“It is difficult to gauge the amount of the cash won’t be traded, i.e., dark cash that would get to be useless,” Mumbai-based Neelkanth Mishra said in the note. “Not every last bit of it is kept in real money under the sleeping cushion, however regardless of the possibility that this was 20 for each penny, it would mean three trillion rupees of riches wrecked.”

Both promoters and buyers can terminate property deal

Both real estate promoters and buyers have the right to terminate a deal in case of default by either side of the parties, according to a newly notified Agreement for Sale rules.

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The rules specify that if the promoter fails to give ready to move in possession of an apartment or fails to complete the project as per the stipulated time, the buyer can terminate the agreement and is entitled to refund of amount paid with interest in 45 days of such termination, according to an official release.

On the other hand, if the buyer defaults on payments, then the promoter has the right to terminate the agreement and cancel the allotment made to the buyer while keeping the booking amount and interest liabilities.

However, if the buyer does not want to terminate the deal, the promoter will then have to pay him or her interest till the project is completed.

The Real Estate (Regulation & Development) Agreement for Sale Rules 2016, notified by Ministry of Housing and Urban Poverty Alleviation, are applicable to the UTs of Andaman and Nicobar Islands, Dadra and Nagar Haveli, Daman and Diu, Lakshadweep and Chandigarh.

Under these rules, a 20-page agreement has been specified in which the date of delivery of possession to buyer is to be clearly mentioned and a schedule of payment as agreed upon by both parties is to be enclosed.

“Violation of these commitments is to be treated as default, in which case, promoter and buyer can terminate the agreement,” the release said.

The Agreement to be entered into stipulates that the total price of an apartment or plot shall be escalation free except when development charges are increased by the competent authorities.

Apart from other provisions, the agreement also provides certain rights to promoters including timely payments as per the mutually agreed upon payment schedule, interest in case of delay in payments by buyer, and additional payments for increase in carpet area.

The rights of buyers include timely delivery of possession of property, refund or payment of compensation with interest in case of delays and rectification of structural defects by promoter over a period of five years from the date of issuance of occupancy certificate, the release said.

 

कोच्चि एक पसंदीदा रियल एस्टेट गंतव्य बनने के लिए: जेएलएल

कोच्चि देश शहर है, जो स्मार्ट सिटी प्रोग्राम की सूची में शामिल किया गया है में विभिन्न अवसंरचना विकास परियोजनाओं द्वारा संचालित में एक highly- को प्राथमिकता दी अचल संपत्ति गंतव्य बन जाएगा, एक रिपोर्ट कहती है।

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” कोच्चि हिट एक छह अगले भारत में अत्यधिक पसंद किया अचल संपत्ति गंतव्य बन गया है, ” जेएलएल इंडिया की एक रिपोर्ट में कहा।

रोजगार सृजन , मेट्रो रेल के लिए आईटी के विकास की तरह सभी संभावित ड्राइवरों, आधारभूत संरचना , उद्योग और व्यावसायिक विकास के लिए पोर्ट आधारित विकास, हवाई अड्डा टर्मिनल , विदेशी निवेश और पर्यटन के लिए स्मार्ट सिटी कोच्चि टैग में बल दिया है , यह जोड़ा ।

“यह अंत में आवास के लिए मांग को बढ़ा देता है और यह भारत में अगले उच्च प्राथमिकता दी अचल संपत्ति स्थलों में से एक बना देंगे ,” जेएलएल इंडिया के राष्ट्रीय निदेशक और संचालन के प्रमुख – सामरिक परामर्श एक शंकर ने कहा।

कोच्चि – जो पहले एक oversupply परिदृश्य से उबरने के लिए संघर्ष कर रहा था – इन प्रयासों से मांग की रचना की वजह से बड़े पैमाने पर पुनरुद्धार देखना होगा जेएलएल कहा।

” अचल संपत्ति की कीमतों में भी बढ़ोतरी अब शहर में आश्वासन दिया है , और यह जो वहां आवासीय , वाणिज्यिक और आतिथ्य परियोजनाओं को शुरू करने के लिए उत्सुक हैं पूरे भारत से कई रियल एस्टेट डेवलपर्स से नए हितों उकसाया गया है,” जेएलएल कहा।

इंडियाबुल्स रियल एस्टेट करेगी डिबेंचर जारी

इंडियाबुल्स रियल एस्टेट 10 लाख रुपए प्रति कुल 200 करोड़ रुपए मूल्य के डिबेंचर जारी करेगी।

2016_6image_14_15_338905535bull-llकम्पनी इन सुरक्षित प्रतिदेय गैर परिवर्तनीय डिबेंचरों को 28 सितंबर 2015 को हुई सालाना आम बैठक में मिली शेयरधारकों की मंजूरी के आधार पर जारी करेगी।

बी.एस.ई. में इंडियाबुल्स रियल एस्टेट का शेयर बुधवार के 93.55 रुपए के बंद स्तर के मुकाबले आज मामूली गिरावट के साथ 93.40 रुपए पर खुला और पूरे कारोबार के दौरान लाल रेखा से नीचे ही रहा। अंत में यह 1.20 रुपए या 1.28% की गिरावट के साथ 92.35 रुपए पर बंद हुआ। इसके अलावा पिछले 52 हफ्तों की अवधि में इंडियाबुल्स रियल एस्टेट के शेयर का उच्च स्तर 105.25 रुपए और निचला स्तर 42.25 रुपए रहा है।

Credai prompts arrangement checks before racing to purchase pads

Some alert with respect to home purchasers is vital while turning upward properties in the periphery regions, land specialists have said.

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Shantilal Kataria, president of the Confederation of Real Estate Developers Association of India (CREDAI), Pune Metro, said instances of unlawful developments happen for the most part outside Pune Municipal Corporation (PMC) limits. “There is absence of sufficient government apparatus to check illicit developments in gram panchayat territories,” he included.

Kataria said home purchasers ought to counsel a decent legal advisor and a decent planner before purchasing houses. “While purchasing a level one must check if the approval has been accommodated a specific floor and in addition the level one is procuring,” he said.

One ought to demand the report, and take a duplicate of the finishing or occupation declaration. The buyer can enquire with the PMRDA or the town-arranging division or separate powers about the assent letter, he included.

He likewise exhorted alert if credit cooperatives authorize advances, or in the event that they pass out an individual advance rather than a suitable home advance.

“The aftermath of illicit structures or developments in a city is serious. Since they are not a part of the first affirmed constructing arrangement, the whole venture is successfully rendered fundamentally unsound,” Anuj Puri, administrator and nation head of JLL India, said.

One ought to be enlightened to property prices__ they are generally lower than the present business sector rates in illicitly developed structures, or unlawfully included floors and augmentations, he said. “A much more critical line of safeguard is to just manage entrenched designers known for straightforward business hones,” he included.

Kishore Pate, head overseeing chief of Amit Enterprises, said, “Buyers ought to know that unlawful structures are regularly developed without the inputs of authorized designers and engineers. They for the most part come up short wellbeing codes.”

Advocate Vinayak Abhyankar said the estimation of pads in an illicit development is just about nil since the exchange between the developer and the purchaser is likewise not substantial.

“One needs to guarantee that one purchases in an endorsed venture before putting their whole reserve funds into a property. As a purchaser, one can likewise request a review of the endorsed arrangement, a privilege the buyer has,” he called attention to.

Financial specialists excited about a chomp of lodging pie with Hudco

The legislature claimed Housing and Urban Development Corp’s. (Hudco) first sale of stock is set to energize financial specialists as this could be the most solid substitute for them after the Housing Development Finance Corp. in the land financing part.

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Despite the fact that the organization might energize, the evaluating of the issue would be the key for financial specialists hoping to make benefits. Hudco can’t be contrasted and any of the current lodging money organizations as it is into renegotiating, not at all like giving home advances to end buyers specifically.

The state-run firm was affirmed for posting by the Cabinet on Wednesday, yet there is no other detail yet. The administration will now start dialog with venture financiers and designate troughs for the deal. The legislature will weaken 10% stake in the organization.

ET prior composed a story saying the organization may raise Rs 500-1,000 crore through IPO.

Financial specialists are deprived of much venture opportunities in lodging fund division past HDFC and littler companions, for example, DHFL and Repco Home Finance. A posting of Hudco could fill in the vacuum as its profile is likewise a considerable measure more extensive.

“Retail speculators ought to go for Hudco IPO as it is a conductor to play in the household land market,” said Sanjiv Bhasin, official VP, markets and corporate undertakings, IIFL. “They could twofold their venture returns more than three years’ opportunity. Lodging area is under-entered and holds colossal potential.”

Hudco is completely possessed by the government which does not loan to retail borrowers, but rather goes about as a renegotiate organization. It likewise finances numerous administration programs.

Fitch downsize Lodha Developers to ‘B’; viewpoint negative

Ratings office Fitch Ratings has downsized Lodha Developers’ Long-Term Issuer Default Rating to “B” from ‘B+’. Fitch has likewise minimized the long haul rating on Lodha’s $ 200 million senior unsecured notes due in 2020 to “B” from ‘B+’. The Outlook is Negative, the evaluations office said in an announcement.

This is the second minimization the realty major has gotten in the most recent two months. In May, Moody’s Investor Services additionally minimized Lodha on weaker-than-anticipated working execution.

“The downsize mirrors Lodha’s powerlessness to lessen its influence, as measured by net obligation/balanced stock, to a level suitable for its past rating. Influence had expanded to 80% by 31 December 2015 from 76% at 31 March 2015 (FYE15) and 65% at FYE14, as the organization kept on sloping up the pace of development in its property ventures notwithstanding lower-than-anticipated presales and money accumulations in the course of the last 12-year and a half,” Fitch said.

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Cranky’s had additionally minimized the long haul rating on Lodha’s $200m senior unsecured notes due in 2020. The US dollar notes are issued by Lodha Developers International Ltd, and are ensured by Lodha and some of its auxiliaries.

“The Fitch rating activity is in accordance with the rating survey by Moody’s as of late. Our organization’s nearby (Indian) obligation, of about Rs 13,000 crore, is in accordance with our business money streams and resource base esteemed at over $ 11 billion by Knight Frank in 2014. In FY 15-16, we had accumulations of over Rs 6,200 crores, conveyed right around 6,500 homes to clients and spent over Rs 3,000 crores on development. We have been India’s biggest designer for 4 successive years and hope to advance develop our business in this money related year,” said a Lodha Group representative while responding to the rating activity.

As indicated by Fitch, the Negative Outlook mirrors the uplifted liquidity chance that Lodha may confront in the transient together with the danger that influence will keep on remaining high at above 80% – if presales and money accumulations keep on underperforming our desires, or if there are huge money calls from its 40%-claimed London joint endeavor.

Among key appraisals drivers, Fitch has noticed Lodha’s missed presales targets and high influence level.

In 2015-16, Lodha pre-sold Rs 6,400 crore worth of properties, underneath Fitch’s desires of Rs 11,000 crore. Thus, money accumulations were likewise weaker than anticipated at Rs 6,200 crore. In any case, trade accumulations out 2015-16 were 15% higher than in 2014-15 in light of the fact that the development advancement of segments of real activities that were presold in earlier years were for the most part on track.

Fitch expects interest for private properties in India to stay unobtrusive, because of the critical unsold stock crosswise over most residential provincial markets. Thusly it anticipates that Lodha will pre-offer just around Rs 6000 crore-Rs 6500 crore of properties in 2016-17.

The evaluations organization anticipates that money accumulations will ascend to about Rs 8,000 crore-8,500 crore in 2016-17, in light of the fact that few of Lodha’s extensive ventures that have been generously pre-sold are on track to be conveyed to clients amid the same period. Incremental offers of such finished ventures commonly bring about a shorter money gathering cycle, Fitch said.

Fitch does not anticipate that Lodha will have the capacity to deleverage fundamentally throughout the following 12 months utilizing its inside created income. The organization has kept on loaning cash to its London joint-wander, which is in the early phases of improvement and has a high venture obligation trouble. A generous measure of the London venture obligation falls due in the following six months, for the most part in December 2016. Fitch trusts that Lodha may bolster London venture obligation developments (in spite of the fact that it has no commitment to do as such) in the event that it can’t secure seaward renegotiating, given the huge speculations it has effectively made.

Lodha’s authoritative obligation developments inflatable to over Rs 3,500 crore in 2017-18, and could essentially expand liquidity dangers if not tended to right on time, Fitch said. Be that as it may, in 2016-17 just Rs 80 crore out of Lodha’s aggregate obligation of Rs 14,400 crore at 31 December 2015 falls due, which the evaluations organization anticipate that the organization will have the capacity to meet in light of access to household credit markets which is still tasteful. The organization likewise had over Rs 1,500 crore of undrawn credit offices at 2015-16.

VVR Housing’s CMD captured for tricking 70 from Hyderabad

Panjagutta police on Monday captured a land company’s administrator and overseeing executive for professedly hoodwinking more than 70 persons to the tune of Rs 1.73 crore.

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In 2008, V Vasudeva Rao, 47, CMD of VVR Housing Pvt Ltd, Ameerpet, had begun a few land wanders in Kothur, Mahbubnagar, and sold plots to more than 70 individuals from Hyderabad for Rs 1.73 crore, police said.

The enrollment was likewise done however, they couldn’t take it as the previous proprietors of the area, who are ranchers of close-by regions, began working the area as of late. “The ranchers who sold their territory to Rao began working as he didn’t pay them the guaranteed sum,” Panjagutta SI K Gurunath said.

In view of their grumblings, police enlisted a tricking body of evidence against Rao and took him into guardianship from Vijayawada.

New law could thump errant engineers level

For some, purchasing a house is a tiring knowledge, a long lasting battle dunking into reserve funds, taking bank credits and paying compared regularly scheduled payments (EMIs). Be that as it may, imagine a scenario where something turns out badly and the venture is uncertainly deferred. Then again more awful, your cash is stuck and the manufacturer declines to reimburse? This is a standout amongst the most corrupt, darkest features of the land business where the level buyer is gotten in a mess. Also, it’s uncontrolled.

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Tragically, the framework is stacked against the buyer as determination can take years.

Legal advisor Anil Harish, a power on property laws, said, “City common courts can take eight to 10 years to settle such cases and a high court the length of two decades.”

Purchaser courts are snappier. Yet, for sums over Rs 1 crore, the complainant needs to go to Delhi to record a case in the National Consumer Forum.

His customer booked a level in a Khar developing with a constructed range of 1,200 sq ft and a floor covering territory of 900 sq ft. Later, the manufacturer pivoted and decreased the rug region. “He has paid 95% of the Rs 6 crore flat. The engineer declines to compare with him until he pays the parity sum,” said Harish.

Property expert Ashok Narang, whose family firm, L Lachhmandas and Co, has been in the land business for five decades, said he has endured as a result of a rebel manufacturer. “We booked office premises in Saki Naka in 1995 and got a distribution letter. The building was prepared for occupation in 2004 however we never got ownership because of infighting among the accomplices,” said Narang.

The Narangs moved purchaser, city common and criminal courts and got ideal requests. “The developer has tested the request in the high court now,” he said.

Specialists said when the property business sector was blasting, individuals who put resources into flats did wouldn’t fret if a task was postponed. “Costs continued expanding, so relatively few grumbled,” they said.

An individual from a financial specialist bunch, battling a manufacturer in Wakdi, Panvel, who has supposedly relinquished the venture, told TOI, “Never put resources into an under-development venture. In the event that you have as of now put resources into under-development ventures, gather contact points of interest of different financial specialists so that on the off chance that they have issues with the developer, they can all in all document a legitimate case.”

In the Panvel venture, the speculator said, “The manufacturer quit speaking with me via telephone, email and in individual, or giving any task upgrades. I don’t know how to recoup my well deserved cash from the task.”

Undertakings are postponed for some reasons, designers said. As indicated by them, a developer may all of a sudden face a money related smash because of moderate deals. “Numerous engineers raise cash from private loan specialists at galactic financing costs (as high as 36% dad) and think that its hard to reimburse,” they said.

Real estate agents additionally put the onus for deferrals on the excruciatingly moderate building consent process in bodies like the Brihanmumbai Municipal Corporation (BMC). “Government arrangements change often, bringing about exorbitant postponements,” they said.

The new Real Estate (Regulation and Development) Act (RERA) conveys would like to customers with more straightforwardness and responsibility, Harish said. The new law stipulates strict discipline for errant developers and fines for venture delays. “Purchasers will have the choice to proceed with remuneration or to exit from an undertaking that is postponed. Designers will need to store 70% of the undertaking reserves in a different record, which must be utilized for the reserved task. Redirection of assets to different undertakings was a noteworthy explanation behind venture delays,” says an introduction on RERA arranged by worldwide property specialist JLL and law office Khaitan and Co.

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