Sunday, November 18, 2012

Wildlife getting hit by realty plans in Noida

The forest department of Gautum Budh Nagar has sent a notice to around 50 realty projects within its area of 10km of Okhla Bird Sanctuary, saying first get a clearance from the standing committee of National Board of Wildlife (NBWL).

The notice is being issued based on 2006 Supreme Courts’ judgment that all the cases are environmental clearance by Union Ministry of environment and forests (MoEF).  All the clearance is mentioned in Environment Impact Assessment guidelines issued by the minister. Officials of forests department said as per list of projects mandated of clearance a notice has be issued to building and construction projects with built up areas between 20,000 and 1.5 lakh sq meter township and area development of more than 50 hectares. The ministry has declared the land near or around sanctuaries or parks as Eco-sensitive zone. Any activities near it would be regulatory nature.





Posted: 16 Nov 2012 11:10 PM PST
By Accommodation Times Bureau


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Monday, November 5, 2012

Noida is no more affordable

Earlier Noida was understood as the destination for affordable housing but it is not the case anymore. This region has witnessed price appreciation of around 50%.  Noida is slowly transforming into a hub of luxury and high-end projects to give a stiff competition to the neighbouring city of Gurgaon in Haryana. The Noida and Greater Noida authorities have decided to brand the twin cities in the luxury segment with various developers coming up with high class residential and commercial towers in the region.

The chairman of the three authorities of Noida, Greater Noida and Yamuna Expressway, Rakesh Bahadur, said that till now Gurgaon was considered the costliest in Delhi-NCR despite the township lacking in terms of necessary infrastructure and facilities. “Now, Gurgaon will have only one USP, which is close proximity to the airport. As builders are coming up with projects developed by world class agencies, in the next five years, Noida will beat Gurgaon in all respects,” Bahadur said.

High-end buyers are shifting their base from Gurgaon to Noida. World renowned Italian couturier Giorgio Armani is likely to design an exclusive flat in the Supernova project.The cost of one designer flat with an area of 4,000-5,000 sq feet will be around Rs 10 crore. For starters, Raj Kundra has decided to purchase a flat for his wife, Shilpa Shetty, in Supernova. Supertech has also tied up with Leela hotels group to open the first 7-star hotel in Noida.





Posted: 03 Nov 2012 04:09 AM PDT
By Accommodation Times Bureau


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Thursday, November 1, 2012

Private Equity Funds: In favour of customers

A new trend has started in realty where the funds are preferred from the private equity players. Realty requires a constant cash flow to keep it going. Such deals have been happening more in the residential real estate sector. The private players are investing in projects for shorter duration. Such investments are beneficial for the customers indirectly, since the developers will utilise the amount for their benefits.

The investors are very cautious while investing in real estate and prefer shorter investment. They are just to invest with guaranteed cash flow. The investors may exit when their returns are not expected by the stipulated time. In real estate sector, in the first half of 2012, 50% of the funds were invested by the private players.

The investors who invested during the boom period didn’t have exits whilst the slack period. But pertaining to the current scenario, despite inflation and cash crunch, investors have witnessed good sales. Many realty players have been turning back to private players and offering better returns, up to 30% annually.







Posted: 29 Oct 2012 05:33 AM PDT
By Accommodation Times Burea


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Private Equity investment drops by 15% in realty

According to the global property consultant Cushman and Wakefield reports the private equity investments in the realty sector declined by 15% in the first three quarters of 2012. The consultant blamed that the drop in PE investments is because uncertain investments in the country among others.

Sanjay Dutt, MD, Cushman and Wakefield said, ‘’the Indian real estate sector has seen a drop of 15% in PE investments in the first three quarter of the calendar year 2012 compared to a year ago’’. During the first three quarters of previous year, the real estate industry had attracted investment worth Rs.4, 110 crore.

Giving us the reason for this fall he say,’’ it is mainly because lot of concerns on the government policy front conjugated with uncertainties, valuation focus on the venerable funds.

He however believes that this shortfall can be made up in coming quarter on working of recent policy, new market strategies, opportunities in booming markets like NCR, Mumbai, Pune, Bengaluru, and Chennai.  According to the reports, the total of private equity transaction till date is 23 marginally lower then last year. The residential segment has seen maximum PE investment of the total private equity investments increasing by 9%. Mumbai is the first preferred destination for private equity followed by Bengaluru and the NCR.



Posted: 31 Oct 2012 01:36 AM PDT
By Accommodation Times Bureau

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