The Uttar Pradesh government’s proposal to increase circle rates in Noida is in complete contrast to what has been recently witnessed in Gurgaon, Haryana and is also being currently evaluated by Delhi. The proposal, which is currently open for public opinion until July 25, 2016, involves increasing the circle rates ranging from 15% to 25%. This, along with the proposed increase in the stamp duty in Noida from 5% to 7%, will further lead to a rise in the acquisition cost of real estate at a time when the industry demand is already muted.
The Minister for Urban Development & Housing (UDH) and Local Self Government (LSG), Rajpal Singh Shekhawat recently approved online the building plans of two commercial projects in Jaipur. This was for the first time that such projects received online approval ever since the user-friendly ‘Building Plan Approval System’ (BPAS) was initiated by the Rajasthan Government on 6 June. These projects are located at Bhiwadi and Udaipur.
Tata Housing, one of the fastest growing real estate developers in India, recently announced its accomplishment of selling over 200 units at its upcoming project “La Vida”, in a record time of 10 days. Strategically located off Dwarka expressway in sector 113, La Vida offers spacious 2, 2.5 & 3 BHK residences at a special starting price of Rs. 1.08 crore.
JNB Group and BridgeStreet Global Hospitality, one of the leading solution providers of international serviced apartment experiences, announce new partnerships with three of India’s leading real estate developers; IDI, AIPL and CHD. This collaboration will provide quality assurance, marketing and global sales benefits for guests, developers and investors.
Piramal Fund Management (PFM), one of the largest real estate focused fund and funding platforms and part of Piramal Enterprises, has invested Rs. 425 cr in a Central Mumbai project being developed by Lodha Group. Lodha Group is India’s largest real estate developer by sales for four consecutive years.
ASK Property Investment Advisors (ASKPIA), the real-estate private equity arm of a renowned diversified financial services firm ASK Group recently announced its sixth exit. The exit of Rs.270 cr is from ASK PIA’s second domestic fund ‘ASK Real Estate Special Opportunities Fund’, in the ATS Infrastructures’ Gurgaon project ‘ATS Tangerine’located on Sector 99A close to the emerging growth corridor of Dwarka-Gurgaon expressway. ASK Group had invested Rs. 147 crs with ATS Group in July 2013 and in less than three years; the same has fetched an IRR of 25% and a multiple of 1.82.
Unishire, Bangalore-based real estate developer, recently announced the launch of its unique ‘Your Home Your Offer’, city’s first offer- customisation, by home-buyer themselves. The one-of-its kind offer gives home-buyers a chance to create personalised offers based on their needs and requirement. The unique offer can be availed at http://www.yourhomeyouroffer.com/, website that was also unveiled on today for customers to experience and avail.
KDP Infrastructure Pvt. Ltd. has launched its new premium luxury project ‘Coral Ridge’. The project is strategically located in the prime location, near Raj Nagar Extension, in close vicinity of the upcoming International Cricket stadium which would be one of the USP of this project. This project would see an investment of Rs.250 cr for its development which would be undertaken in phases.
UBM India recently announced the 4th edition of the Concrete Show India (19th -21st May 2016) at the Bombay Convention and Exhibition Center, the only show exclusively dedicated to the concrete industry, covering key sectors like roads and highways, housing, airports, ports, power, rail, dams & bridges.
Vatika Group is the first real estate developer to install solar panels at its projects. This installation is being carried out by Enviro. Through this and numerous other efforts the realty major is trying to reduce its carbon footprint and give impetus to the use of green energy. This is a key initiative by the group for the production of green energy requires a lot of initial investments. Vatika Group has invested a total of Rs 75, 00,000 for the installation of solar panels and equipments at Vatika Business Park. Within the next six months the group intends to invest further towards strengthening of this project and intends to multiply its capacity 10 times.