Real Estate

Affordable housing scheme for EPFO subscribers in the works

New Delhi - The Labour Ministry is preparing a mega housing scheme to offer affordable houses to over 5 crore subscribers of retirement fund body EPFO in the backdrop of the government's mission 'Housing for all by 2022'.

The Ministry intends to collaborate with PSU banks, housing finance companies, state-owned construction firms like NBCC and authorities like DDA, PUDA, HUDA to build houses at a price to be fixed by the government.

'Bring real estate bill to Parliament for passage soon'

'Bring real estate bill to Parliament for passage soon'New Delhi : To provide relief to consumers in an "unregulated" real estate sector, a parliamentary panel has asked the Housing and Urban Poverty Alleviation (HUPA) Ministry to urgently bring the Real Estate (Regulation and Development) Bill, 2013 to Parliament for its passage.

In a report presented on Thursday in Lok Sabha, the Standing Committee on Urban Development headed by BJD MP Pinaki Misra said the Real Estate (Regulation and Development) Bill was introduced in Parliament on August
14 last year after wide consultations with all stakeholders.

DDA housing scheme 2014 draw likely on Wednesday

DDA housing scheme 2014 draw likely on WednesdayNew Delhi : The much-awaited draw for the DDA Housing Scheme 2014 has been reportedly pushed back to Wednesday (November 12) as the authority as still receiving corrections from the banks.

DDA vice chairman Balvinder Kumar is said to have told a leading daily that the draw is likely to be held on November 12.

The draw was earlier fixed for November 5, but was postponed to November 10 due to the delay in processing of the applications.

Reports said Monday that the DDA conducted a mock trial draw of about 5 lakh forms.

DDA gets over 10 lakh applications, dry run for draw today

New Delhi - DDA has received over 10 lakh applications for the flagship 'Housing Scheme 2014' and it will on Monday conduct a dry run to check its preparedness for the much-awaited draw of lots.

The tentative date for holding the draw of the lots for the new scheme was November 10, but a senior official of the housing authority on Sunday said that the exact date would be decided based on the outcome of Monday's trial.

Property prices likely to remain stable for next 6 mths: Survey

Mumbai - Even as the overall sentiment in the real estate sector has improved, buyers feel property prices across top 10 cities are likely to remain stable for the next six months, according to a recent survey.

The Housing Sentiment Index (HSI) assessed by IIM Bangalore and real estate portal Magicbricks home buyers across 10 cities -- Ahmedabad, Bangalore, Chennai, Delhi, Gurgaon, Hyderabad, Kolkata, Mumbai, Noida and Pune -- suggests that real estate prices are likely to remain stable over the next six months.

Godrej Properties adds new housing project in Mumbai

New Delhi - Realty firm Godrej Properties Ltd on Monday said it has entered into an agreement with a land owner to develop an affordable housing project near Mumbai.

The project will have 1.3 million sq ft of saleable area.

"Godrej Properties has entered into a development management agreement to develop a property situated in Badlapur, Mumbai Metropolitan Region. It will be developed as an affordable housing project," Godrej Properties said in a statement.

Godrej Properties is the real estate arm of the Godrej Group.

Goldman exits Bangalore Four Season property

Mumbai - Global private equity major Goldman Sachs has sold its entire 73 percent stake in City View Bangalore Properties to a JV floated by Blackstone and realty player Embassy Group for an undisclosed amount, exiting the project after several failed attempts since 2012.

Consultant firm J Sagar Associates, which advised Goldman, confirmed the deal but provided no details. Neither Goldman nor other PE funds could be immediately reached for comments.

City View Bangalore is building a hotel under Canada's Four Seasons brand besides apartments and offices in the garden city.

Housing Scheme 2014: DDA posts video guide for filling forms

Delhi Development AuthorityNew Delhi - The Delhi Development Authority on Friday posted an online video guide on filling up of forms for its new housing scheme and precautions to be taken for it.

Running into over six minutes, the video is available on the 'DDA Housing Scheme 2014' page on its official website www.Dda.Org.In.

The video gives details, column by column, of the steps to be used in filling the form. It also elaborates on the precautions which could be taken while filling up the form, the urban body said.

DDA had earlier uploaded a video detailing the process of conversion of property from leasehold into freehold, it said.

Tata Value Homes sells 85 houses worth Rs 40 cr on Snapdeal

Tata Value Homes sells 85 houses worth Rs 40 cr on SnapdealNew Delhi - Tata Value Homes, focused on affordable housing, has sold 85 houses worth Rs 40 crore in six days under its partnership with e-commerce major Snapdeal.

On August 28, Tata Value Homes launched an exclusive offer on Snapdeal, offering Rs 10,000 per month for a year as an assured rent (whether owners stay on premise or lease it out).

HC set asides allotment of 350 acres land to DLF in Gurgaon

HC set asides allotment of 350 acres land to DLF in GurgaonChandigarh - The Punjab and Haryana High court on Tuesday set aside Haryana government's decision to allot 350 acres of land at Wazirabad in Gurgaon to real estate developer DLF in 2010.

A division bench of the court, comprising Justice Surya Kant and Justice Amol Rattan Singh, directed Haryana government to conduct an auction of the land in question by inviting international bids within a month.

'Future of housing' may be skyscrapers containing entire cities

The-Endless-City-in-HeightLondon, August 28 : An architecture film is planning to build skyscrapers of the future which will house an entire city inside in London.

Speaking about the award-winning proposal by SURE Architecture, associate director Alina Valcarce said that the goal of the design is to conceive an open building that is effective as it is inviting and a powerful symbol in all directions while being permeated by generosity and openness, the Daily Star reported.

SC directs DLF to pay Rs 630 cr fine imposed by CCI

DLFNew Delhi : Real estate major DLF was on Wednesday directed by the Supreme Court to deposit Rs 630 crore fine slapped on it by the Competition Commission of India (CCI) for allegedly resorting to unfair business practices.

The apex court said the total ammount will be deposited within three months with its Registry pending the outcome of the appeal filed by DLF against May 19 order of Competition Appellate Tribunal's upholding the penalty of Rs 630 crore imposed by the CCI.

"We direct the appellant (DLF) to deposit the amount of Rs 630 crore in this court," a bench comprising justices Ranjana Prakash Desai and N V Ramana said in its interim order.

PNB launches housing loans at 10.25%

Punjab National BankNew Delhi - To increase business in the festival season, Punjab National Bank (PNB) Tuesday said housing loan of up to Rs 2 crore will attract 10.25 percent interest rate and also announced full waiver of processing fee and documentation charges on housing, car and two-wheeler loans.

Under the festival season bonanza offer for retail loans, housing loans of over Rs two crore will attract interest of 10.50 percent.

The festival bonanza, launched today, would contribute to the growth of GDP and with the onset of festival season, PNB said in a statement.

Now, buy affordable house online on Snapdeal

Snapdeal CEO Kunal BahlNew Delhi - Tata Value Homes, a real estate firm focussed on affordable housing, has partnered with e-commerce major Snapdeal to sell houses through the online marketplace model.

As part of the partnership, about 1,000 homes across projects in cities like Mumbai, Pune, Ahmedabad, Bangalore and Chennai will be put up for sale on Snapdeal. Ranging from 1 BHK to 3 BHK, the houses are priced between Rs 18-70 lakh.

Housing sales drop by 37% in NCR during Jan-June

Housing-sales-dropNew Delhi: Housing sales dropped by 37 percent in Delhi-NCR to nearly 28,500 units during the first six months of this year due to slowdown in the property market, real estate consultant Knight Frank said on Tuesday.

In the year-ago period, the National Capital Region (NCR) had witnessed sales of 45,300 housing units.

Launches of new homes in NCR fell by nearly 43 percent at 35,500 units during January-June 2014 as compared with the corresponding period of last year.

HDFC Fund raises $250 million for realty investments

HDFCfundNew Delhi: HDFC Property Fund, a part of financial sector conglomerate HDFC group, Friday announced the closure of USD 250 million international fund focused on investing in Indian real estate.

The fund-raising exercise has been concluded with investments from marquee international institutional investors and marks closure of HDFC's second international real estate fund, it said in a statement.

HDFC had raised an international fund of USD 800 million in 2007, which is fully deployed.

The recently closed fund will focus on investing primarily in residential property developments in major cities across India.

Parsvnath to explore raising foreign funds as govt eases rules

ParsvnathNew Delhi: Realty firm Parsvnath Developers will consider raising foreign funds in two commercial projects in the national capital that have now become FDI compliant after the government eased rules in the Budget.

At an investment of about Rs 600 crore, the company is developing a commercial project on KG Marg near Connaught Place and a shopping mall at Rohini here.

The company would also explore listing of about 12 Delhi Metro malls through Real Estate Investment Trusts (REITs) as tax sops offered in the Budget for this instrument have paved the way for its launch in the Indian market.

DLF shares slump on fresh CCI probe

DLFMumbai: Shares of realty major DLF turned weak today on the back of fair trade regulator CCI ordering a fresh probe against the company.

DLF stock was down nearly 2 per cent at Rs 215.20 at the BSE in late morning trade in an overall flat market, where the benchmark Sensex was almost unchanged at 25,367 points.

The Competition Commission of India (CCI) has ordered a probe against a DLF group company for allegedly imposing unfair and unreasonable conditions on office buyers at one of its commercial projects in Gurgaon.

DLF scrip rises 4.04 percent on healthy Q4 earnings

DLF scrip rises 4.04 percent on healthy Q4 earningsMumbai, May 30 : The scrip of India's real estate development major DLF gained 4.04 percent on back of healthy earnings in the fourth quarter of the last fiscal ended March 31.

In the initial trading hours at the Bombay Stock Exchange (BSE) the company's stocks gained as much as 4.04 percent at Rs. 212 from its previous close of Rs. 203.75.

The scrip's gain stood at 1.94 percent or 3.95 points at Rs. 207.70 around 2.00 p. m.

North India's tallest residential tower in Noida

Brys-GroupNoida, May 24 : Real estate player Brys Group plans to invest Rs. 900 crore-Rs. 1,000 crore over the next four years in a project that will be north India's tallest residential tower, Rahul Gaur, chairman-cum- managing director of the company, said here Saturday.

“We will invest around Rs. 900 crore-Rs 1,000 crore and the project will be completed by 2018. We are financing the project with both bank and our finance,” he said.

Located in Noida, Sector 150, the residential tower named "Brys Buzz", will be 81-storeyed with 111 elevators and a helipad on the top of the building.

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