Seminar on "How to make more money in real estate."

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  • - Monday 20th March 2017

    "We have already delivered around 25 million sqft and nearly 70 million sqft is under various stages of construction across our three segments -- residential, commercial and retail. We will be adding few more projects in the next few months, so we feel that in FY18, our total portfolio will touch 100 million sqft," Tata Housing Head (Marketing) Rajeeb Dash told PTI.
    The company has projects in major metros, including Mumbai, Delhi NCR, Bengaluru and Kolkata, among others.
    The company is also expecting to grow by 20-25 per cent at the topline in the next fiscal, Dash said.
    "The development manager role may play a big thing in this situation. Lot of developers will take branded players like us as a partner. We are getting a few proposals and we are evaluating them. But we will take only those projects that have received all clearances and also if they are financially sound," he said.
    "We have projects in Goa, Kasauli, Talegaon and Lonavala. In Goa, we have delivered the first project and we are doing a second one. We are exploring other new markets as well," he added.

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  • - Monday 20th March 2017

    The Mumbai Metropolitan Region Development Authority (MMRDA) is no longer the special planning authority for the Gorai-Manori, Uttan, Pali, Chowk, Tarodi, and Dongari areas. While Gorai-Manori is within BMC limits, the others are in the jurisdiction of the Mira-Bhayandar municipal corporation.

    The East Indian enclaves were identified as a tourism development zone (TDZ) and the MMRDA was appointed to prepare the development plan (DP) for the area, which it did. Locals came out in large numbers opposing the plan. According to the draft, industrial development was to be allowed on land parcels of 10 hectares (25 acres) or above in areas classified as green zone I. Moreover, 15-metre-tall buildings (three to four floors) were to be allowed in such zones. The locals even set up an environment protection committee to oppose the plan.

    A notification issued by the state urban development department states the plan stood sanctioned by the government. But the MMRDA's plan is to be revalidated by the two civic corporations, though, as per the notification, any changes in development permissions are to be carried out in consultation with the MMRDA.

     

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  • - Monday 20th March 2017

    Supertech has engaged consultants to raise about Rs 1,000 crore through external commercial borrowing (ECB) to fund the development of 40,000 affordable homes planned over the next four years, its Chairman R K Arora said.
    " We are changing building plans of our existing projects in Greater Noida, Yamuna Expressway, Gurgaon, Meerut and Dehradun to launch low-cost homes," Arora told ."We will raise about 25 per cent of the total investment. Rest can be funded through internal accruals and advances from customers," Arora said.
    The affordable housing projects would meet the criteria laid in the Prime Minister's AwasYojna (PMAY) so that prospective buyers could get the loan subsidy up to 4 per cent, he added.
    Supertech is fighting a legal battle in the Supreme Court related to its housing project in Noida. In April 2014, the Allahabad High Court had ordered to demolish the company's two 40-storey towers in a housing project.
    The realty firm challenged the high court order in the apex court. The two towers -- Apex and Ceyane -- have in total 857 apartments, of which about 600 flats were sold. 

     

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  • - Saturday 18th March 2017

    The MIDC has already served notices to eight industries in Satpur and Ambad industrial estates, asking them to stop commercial use of the industrial plots.
    MIDC said, “We noticed some industries have been using industrial plots for commercial purposes which is not allowed. Hence, we have decided to take action against them.”
    An official added, “During a survey, we identified eight industries using industrial plots for commercial purposes. We served them notices asking them to stop commercial use of the plots.”
    AnchorThe official said defaulters are expected to stop commercial use of the plot within 15 days after the receipt of the notices. “We will take action against them if they did not respond to notices. Out of eight industrialists, six are from Ambad industrial estate, while two are from Satpur industrial estate of the MIDC,” he said.
    The MIDC has already started a survey in its industrial estates to find out how many industries are operational and how many are sick. Moreover, some industries have constructed buildings and also obtained Building Completion Certificates (BCC), but they have not started operations

    The MIDC has already served notices to eight industries in Satpur and Ambad industrial estates, asking them to stop commercial use of the industrial plots.
    MIDC said, “We noticed some industries have been using industrial plots for commercial purposes which is not allowed. Hence, we have decided to take action against them.”
    An official added, “During a survey, we identified eight industries using industrial plots for commercial purposes. We served them notices asking them to stop commercial use of the plots.”
    AnchorThe official said defaulters are expected to stop commercial use of the plot within 15 days after the receipt of the notices. “We will take action against them if they did not respond to notices. Out of eight industrialists, six are from Ambad industrial estate, while two are from Satpur industrial estate of the MIDC,” he said.
    The MIDC has already started a survey in its industrial estates to find out how many industries are operational and how many are sick. Moreover, some industries have constructed buildings and also obtained Building Completion Certificates (BCC), but they have not started operations

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  • - Saturday 18th March 2017

    Construction of hotels, eateries, parking lots are part of the redevelopment plan for Jammu station while opening of malls, restaurants, and multiplex are being considered at Faridabad station.
    Jammu has great potential for more hotel rooms to cater to the growing demand of ever increasing pilgrims coming to visit Vaishno Devi shrine.
    According to the plan, the selected developers are expected to pay railways about Rs 75 crore for Jammu and Rs 70 crore for Faridabad.
    Railways has offered 23 stations including Jammu and Faridabad stations to be redeveloped with private participation in the first phase.
    There are a total of 407 stations on offer for private players in the mega redevelopment plan. Habibagunj and Gandhinagar stations have already been handed over for redevelopment.
    "Representatives of seven developers today participated in the pre-bid conference here. They had some queries which was addressed in the meeting," said a senior Northern Railway official.

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  • - Saturday 18th March 2017

    Talking about the growth, Gurmit said that the plumbing industry witnessed a 30% growth last year except for the last two months. “Cash crunch impacted the industry severely. The growth rate would have been higher if not for demonetisation,” he adds.
    Though the real estate sector has been impacted by demonetisation, it is the allied industry such as plumbing, construction material, etc that been hit the most. Usage of cash transactions on a day-to-day basis was high in these sectors which almost halted.
    Gurmit expects that it will still take few months for things to come back to pre-demonetisation state.
    Indian Plumbing Association currently present in 15 cities will be adding 3 new chapters by the end of this year. There are also plans to develop plumbing laboratories in few of these chapters.

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  • - Saturday 18th March 2017

    Aspiring property moguls take note - the town of Tiller, Oregon, is for sale, asking price just $3.5 million. For an extra $350,000, you can have the old school too.
    The town about 225 miles (362 km) south of Portland originally went up for sale in 2015, but that did not include the building that used to house the school, said Garrett Zoller, the owner of Land and Wildlife, the real estate firm selling the 250-acre (100-hectare) town.
    The current deal, at a reduced price, includes six houses and an apartment, industrial and commercial lots, and a building that once housed a gas station and general store. Adding the school, on an adjacent parcel, swing sets and all, would set a buyer back about $3.85 million.
    Daydreamers aside, a complete town could also be an opportunity for a developer, Zoller said, since part of the town has already been divided for a 13-acre (5-hectare) subdivision.
    He said he had fielded calls from would-be buyers ranging from Chinese investors to people interested in starting medical facilities and hemp-growing operations.

     

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  • - Saturday 18th March 2017

    Realty developer IndiabullsReal Estate is planning raise Rs 100 crore through issue of Non-Convertible Debentures (NCDs), the company said in a regulatory filing.
    The NCD issue with tenor of 13 months will open on March 22, the company said in a BSE notice.
    The issue of secured, redeemable, non-convertible debentures of face value Rs 10 lakh each will be done a private placement basis. The company had received shareholders approval for the same in September 2016 through a special resolution at its Annual General Meeting then.

     

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  • - Friday 17th March 2017

    The guidelines propose a steeper hike for registration of flats than open plots. Over 150 colonies in Bhopal are expected to be impacted by the rise in property registration fee.
    The fee for registering a flat has been increased by 5% to 20% — the steepest in three years. Until 2014, collector rate for all floors of an apartment varied, but later there was a flat rate for every floor. This in effect, led to a near 25% increase in collector rate of many properties.
    AnchorTuesday was the final day for receiving objections or suggestions for the proposed collector rate guidelines for Bhopal. Once cleared by the district evaluation committee, the new guidelines will come into effect after approval from the state government.
    The colonies likely to be impacted are concentrated around Budhwara in the heart of the walled city, Sehore-Indore Road, Kotra Sultanabad, Nehru Nagar and BawadiyaKalan.

     

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  • - Friday 17th March 2017

    The volatility in the real estate market is driving real estate portals to focus on other revenue systems. Portals such as Magicbricks, Indiaproperty and QuikrHomes are either streamlining or expanding their non-advertising components for a steady growth in near future.
    Currently, ad-listings by builders accounts for nearly 60 per cent of the revenue of these portals but the general sluggishness, demonetisation, RERA and various other factors has impacted this revenue stream. 
    Ganesh Vasudevan, CEO of Indiaproperty.com claims that they recognized the need to evolve beyond vanilla ad listings in 2013, and have since built an ecosystem of products and services on both the buy and sell sides of the residential real estate marketplace. “These tools are add-ons to listings and significantly enhance marketing ROI for the developer, and help us garner a larger share of the developers marketing wallet,” adds Vasudevan.
    Magicbricks expects the non-advertising component to rise to 20% of their toplines next year.

     

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  • - Friday 17th March 2017

    A Delhi Court on Thursday refused to pass any order on the city police' plea demanding that real estate barons SushilAnsal and GopalAnsal, convicted in the Uphaar fire tragedy case, be asked to obtain judicial permission before leaving the country.

    During the hearing, the counsel appearing for Association for Victims of Uphaar Tragedy alleged that the Ansals were trying to flee the country.

    The  matter had been posted for further hearing to April 15.

    The police had earlier this month moved the court seeking an order against the Ansal brothers.

    The apex court had recently asked GopalAnsal to complete his remaining one-year jail term in the 20-year-old case while his elder brother SushilAnsal got relief from incarceration with a prison term already undergone by him in view of age- related complications.

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  • - Friday 17th March 2017

    The councilapproved the state GST (SGST) and the union territory GST (UTGST) bills.The bills will now have to be cleared by Parliament and state assemblies. The GST Council has approved rules and regulations on registration, payments, refund, invoice and returns, but these may require minor corrections, Jaitley said. The council will meet again on March 31 to approve regulations on composition, valuation, input tax credit and transitions. After this approval, issue of assigning tax slabs to various commodities would be up for approval. After thus is done, GST can be implemented.

    Tax experts too cheered the move.
    “Clearance of the model GST law is a warning bell for those who have not yet commenced their preparations for introduction of GST. It will be too short a time for the industry for preparation if the states are not passing GST law latest by the second half of April.”
    The tax reform will subsume central and state levies such as excise duty, additional duties of customs, service tax, value added tax, central sales tax, entry tax, octroi and luxury tax.

     

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  • - Thursday 16th March 2017

    The ranking, released on Tuesday, comes at time when the central government’s smart city mission to develop 100 cities with better quality of life is nearing its second anniversary.
    In its bid to sensitise city managers and local administration to take proactive steps the Union government is also launching the “liveability index” for all the cities in India.
    Singapore topped the list of cities in Asia offering the highest quality of life and infrastructure, though globally it ranked 25. According to the survey, Vienna in Austria has been ranked as the world’s best place to live for the eighth year in a row. Baghdad has been found as the worst city to live.
    Mercer’s survey helps companies and organisations determine compensation and hardship allowances for international staff. It uses different criteria such as political stability, health care, education, crime, recreation and transport while ranking the cities.

     

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  • - Thursday 16th March 2017

    The council is likely to approve the state GST (SGST) and the union territory GST (UTGST) bills, and the government expected to seek cabinet approval for the other bills approved by the council earlier.
    The favourable verdict in four states — UP, Uttarakhand, Manipur and Goa — is expected to bolster the Centre’s position further.
    Sources said the government was working on a plan to ensure that the bills got parliamentary approval in the ongoing session. State legislatures will also need to approve the SGST legislation.
    Earlier this month, the council approved two key legislations, the central GST (CGST) and integrated GST (IGST). The GST council, a panel comprising Union and state finance ministers, also agreed to cap the levy at 40%, while sticking to the earlier slabs of 5, 12, 18 and 28%.
    The CGST legislation will empower the Centre to levy tax on goods and services once central excise and service tax are subsumed. SGST will let states levy tax after VAT and other levies are subsumed in GST.

     

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  • - Thursday 16th March 2017

    SBI and CREDAI have entered into anMoU to jointly conduct various initiatives towards 'Housing for All' initiative in the next 3 years. Each of them will leverage its individual strengths and collaborate in areas which will be beneficial to the sector and the consumers at large.

    Under this MoU, SBI will be a national partner for all CREDAI activities and both will jointly work together for various marketing activities like conclaves, seminars, exhibitions, campaigns and CSR activities as well.
    "The CREDAI SBI MOU is meant to mobilise the credibility of CREDAI members and the reach of the largest bank in India to cater to both home loans and construction finance requirements of the real estate sector," said GeetambarAnand, President, CREDAI. " We believe that availability of finance at lower rates would help fulfil CREDAI's objective of making housing more affordable."

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  • - Wednesday 15th March 2017

    LokSabha on Tuesday passed the Enemy Property (Amendment and Validation) Bill, 2016, which denies inheritance rights to heirs of individuals who left the country for Pakistan and China, completing the process after RajyaSabha gave its assent to the long pending legislation last week.
    The amendment was necessitated by the claim made by the Raja of Mahmudabad of Uttar Pradesh on properties belonging to his father which were declared enemy property and seized by the government of India following partition.
    LokSabha had to pass a fresh bill to approve the amendments introduced by the upper House on the recommendations of the select committee which considered the legislation. 
    Home minister Rajnath Singh said the purpose of the bill was to clarify the rules that inheritance law would not apply to enemy property a question which first arose in 2010. The government had passed an ordinance to enforce the law.
    Singh denied the contention of some MPs that the bill was against “natural justice” and “human rights”, stating that Pakistan had seized the properties of Indian citizens and it was only natural that the property of those who migrated to Pakistan was not returned.

     

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  • - Wednesday 15th March 2017

    "L&T Realty Ltd, a wholly-owned subsidiary of Larsen &Tourbo Ltd, has executed a share purchase agreement for selling its entire stake in L&T South City Projects Pvt Ltd to Pragnya group," the construction firm said in a BSE filing.

    L&T Realty owns 51 % stake in L&T South City Projects Pvt Ltd, which is engaged in the development of a 92-acre residential township at Siruseri, Chennai.

    On the rationale for sale, L&T said that it was "limited scalability of the business in the project for L&T Realty Ltd".

    Pragnya group is an investment firm with a specific focus on fund management, property development and asset management.

    The group currently has presence in India, Sri Lanka and Africa and has been investing in these markets for over 14 years.

    The group has been involved with L&T South City Projects Pvt Ltd and the development of the 92-acre residential township in Chennai since its inception.

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  • - Tuesday 14th March 2017

    According to Cushman and Wakefield, Pune, overall launches rose by 14% to 18,700 units in 2016, with the ticket sizes in value housing and mid segment rising slightly, as these segmentsin Pune market were comparatively more resilient to the ongoing slowdown in sales, as compared to other markets.
    According to the report, launches rose 20% in the value housing segment to 8,600 units with stable demand driven by end-users. In the value housing segment, average ticket size too rose 10% in 2016 to Rs 30 lakhs, led by higher launch prices of some projects in the city. 
    Ticket size in the high-end segment has taken a hit with launches falling a massive 88% and the average ticket size almost halving. During the year, the average ticket size too almost halved to Rs 1.1 crore as developers significantly rationalized unitsize to 1,400 sf from 2,600 sf last year. Only 3 projects were launched during the year in locations of Mulshi and Pashan as developers saw the impact of slowing sales in this segment.

     

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  • - Tuesday 14th March 2017

    The fear is that the thin capitalisation introduced in the budget combined with the Real Estate (Regulation and Development) Act (RERA) would mean an increased tax and other legal liabilities beginning April this year.
    Thin capitalisation will not allow companies to claim tax deduction for interest paid on foreign debt above 30% of their EBITDA (earnings before interest, tax, depreciation and amortisation). Experts say the most hit would be real estate and infrastructure companies that have large chunk of international debt at project level or in their special purpose vehicles (SPVs). The government is expected to categorise investments through non-convertible debentures (NCDs) and the dividend paid on that also as debt.
    The fear is also that under RERA investors can be labelled a developer and may have to face strict penalties for any violation of rules by the projects they fund. The responsibility of compliance under the RERA is on the promoter. 

     

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  • - Tuesday 14th March 2017

    Claiming that sand prices have increased due to acute shortage of river sand, a civil engineers forum on Monday sought the Tamil Nadu government's intervention to tide over the crisis.
    "Against the daily demand of around 2.8 lakh CFT for the city, approximately 52,500 CFT of sand is only available. Usually, we get sand delivered within a day, but the gap has now increased to five days," he added.
    He said only five out of 25 sand quarries are operational now.
    He said the real estate sector had been hit by demonetisation. "First, ban on registration of unapproved plots came as a blow for the construction sector, which was followed by demonetisation. Presently, scarcity for sand has added fuel to it," he said.
    Venkatachalam sought the government to directly engage in marketing sand mined from riverbeds as it would fetch twice the revenue of what the state-owned TASMAC is generating.

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  • - Friday 10th March 2017

    Karnataka's smart cities project is on track. With special purpose vehicles (SPVs) for four of the six cities set up and work on incorporating the SPVs of other two cities in the final stages of completion, the Karnataka Urban Infrastructure Development Corporation (KUIDFC), the nodal agency for the project in the state, is now focusing on ensuring that project management consultants are in place to guide the boards of respective SPVs discharge their mandate.
    KUIDFC is now focusing on appointing project management consultants (PMCs) for the SPVs so that detailed project reports can be prepared and work on their implementation as per plans drawn up by the respective cities in their smart cities bids initiated, he said. While PMCs have been appointed for Belagavi and Davangere, this process for other cities is on as technical bids are being evaluated, Ponnuraj said.
    Each of these smart cities will receive Rs 200 crore funds every year - Rs 100 crore each from central and state governments - for five years to implement the smart cities solutions decided by the stakeholders in the cities as per priorities drawn by them.

     

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