Aquila Heights-Tata Housing Project - Triggering Bangalore Real Estate
Bangalore real estate is all set to add a new chapter in its profile by re-framing the infrastructural design of the city. The IT triggered city is soon to revolutionize the real estate industry by constructing the tallest building. Tata Housing Development Co. Ltd is coming with their new residential project which is going to be a tallest grade A building.
A 32 Storey residential apartment is planned to be constructed at HMT near Jalahalli. The project is named as Aquila Heights is luxury apartment housing for the elite class of people. With this news Bangalore real estate markets already experienced some activity. Bangalore properties are witnessing some price hike as the residential values across the nearby localities are appreciated.
The project spreading over 6.3 acres of land is designed by Singapore based architects Ong and Ong Ltd. The structural design is such that approximately 89% area is left as open space. The project is estimated to complete by 2010. Huge amount of investments are being made by the investors and foreign investments can also be seen.
The luxury apartment is designed to facilitate the premium class and is featured with the all comfortable as well as lavish amenities. Features such as TV monitored lobby, video doors phones, outdoor fitness area, boom gate, space for billiards, badminton, gym, table tennis, kids playing area, swimming pool etc. Interiors of the apartment is constructed to give a superior finish and to give a perfection touch. Use of vitrified tiles on the floor, acrylic paint, aluminum glazed windows etc are the few parameters taken in account.
Bangalore Real Estate Builders are saying that investment in Aquila height is going fetch high returns in coming years as the project is related to the sense of pride to live in the tallest building in Bangalore. With all this Bangalore property is again ready to set an infrastructural trend in the country.
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NRI realty investments drop by over 50%
The NRI season is now at its fag end. Despite undertaking tours to the US, the UK and Middle East and doling out freebies and discounts, realtors have been unable to catch the attention of this cash-rich community.
The result: NRI investments in India-based properties dropped by over 50% this season, with the four metro cities and “NRI-heavy” mirco markets in states like Gujarat and Kerala being among the worst hit.
“Compared to last year, the drop in NRI interest in India-based properties has been almost 50% in all sectors. The metros showed a sharp drop in demand, largely owing to the steep prices”, says Sanjay Dutt, CEO - business, Jones Lang LaSalle Meghraj (JLLM), a global real estate consultancy firm. “Very few luxury homes have been sold as compared to last year”, he adds.
At a time when the domestic demand in micro-markets in Tier-I, II and III cities began to slump in the third quarter of this financial year, the developers were hopeful that the demand from the NRIs will pep up the sentiments in the realty markets.
However, the global slowdown and the resulting slump froze the bullish sentiments among NRIs. “Though a far-from-spectacular number of transactions have indeed taken place this season, generalised job insecurity and a desire to conserve available cash among IT employees abroad has curbed investment demand for high-end properties, Mr Dutt said adding that the response was “significantly muted” from the NRI community this season.
The sharp corrections seen in some larger cities has also led to an “acute wait-and-watch attitude among NRIs who - just like everyone else - are now very price sensitive”, he explained.
Source:Economics Times
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Tatas, Birlas to Invest in Real Estate
Two of India’s large business houses, the Birlas and the Tatas, are looking at real estate as a major investment area, albeit in different ways.
While the Birlas, through a financial services arm, are offering real estate as an alternative investment option to clients, the Tatas are planning to develop surplus land held by group companies. The Tatas may also invest in the sector part of funds raised through recent public offerings.
These moves come at a time when real estate prices are correcting and low demand for projects has prompted large developers to default on financial commitments and project deadlines.
Aditya Birla Management director Ajay Srinivasan, who also heads the financial services business, said the conglomerate is merely gearing up for the future. “We are now putting a team in place and want to be ready when the time is right, ” he told ET.
The financial services arm of the group is setting up a real estate and private equity arm for its wealth management units. To be headed by Sashi Kumar, the real estate business would be managed through Birla Sun Life Asset Management. The Birlas plan to subsequently launch two real estate funds, one offshore and the other local, for the sector.
Although funds will be raised overseas as well, the investment destinations will be in India and can include distressed real estate assets. Tata Housing Development, a real estate player, has already said that it plans to leverage its tie-ups with banks by developing properties on surplus land owned by other Tata group companies.
Tata Housing is now identifying excess landbanks owned by companies such as TCS, Voltas, Rallis India, Tata Motors, Tata Coffee and Tata Tea. Tata Capital, the financial services arm of the Tatas, is scheduled to close a largely successful non-convertible debenture issue on Tuesday; it has so far raised Rs 2, 300 crore against a targeted Rs 1, 500 crore. Although Tata Capital has said that it won’t lend to group companies, it has proposed to invest in most asset classes.
Anticipating a large value erosion in the realty space, Indian corporates are planning to float new funds to acquire assets in the domestic property market. Real estate funds such as Saffron Advisors have either floated or are in the process of floating funds with corpus ranging between Rs 500 crore and Rs 1, 000 crore.
“As far as Indian realty is concerned, for the right projects, funds are still available, ” said Saffron Advisors MD Ajoy Kapoor. “Conservative European investors, after conducting extensive due diligence and research, are more comfortable with investing in Indian real estate, provided they are able to align with right partners, ” he added.
A few months ago, Munich-based retail aggregator Deutsche Capital Management underwrote $20 million for Saffron India Real Estate Fund I, an India-focussed real estate fund. DCM is raising a specific fund for investing in Indian real estate through Saffron Advisors.
Tough lending norms, unfavourable primary market and global financial worries have affected fund flow into the Indian property market. Real estate deals have fallen and fancy valuations by developers are being corrected to a large extent.
Source: Economics Times
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Seven Interview Questions to Ask a Buyer Agent
Seven Interview Questions to Ask a Buyer Agent
By [http://ezinearticles.com/?expert=Joshua_Ferris]Joshua Ferris
Not all that long ago the concept of buyer agency (a real estate agent representing the buyer only in a transaction) was relatively uncommon to the real estate industry because, at the time, most agents represented the sellers of property or both parties.
Buyers of real property were in need of a real estate professional to represent their needs exclusively and buyer agency was born. Fast forward to today, there are tens of thousands of agents who represent buyers in real estate transactions so here are seven questions to help you find the right buyer agent for you.
How many homes have you sold in the past year? - The real estate industry is home to over one million practicing professionals and each agent can choose whether to work part-time or full time.
Sometimes you have an agent who may be licensed to help friends and family sell real estate and other times you have the full time professional who assists in the buying and selling of dozens of properties each year. Find out how many properties your buyer agent has participated in the sale of over the past 12 months to get a better idea of how much experience they have in today's real estate market.
How many times have you represented the buyer only in a home sale over the past year? - The representation ratio is as important to the agent's ability to help you as their overall sales experience. Ask your buyer agent how many times they have represented the buyer only in a real estate transaction because buyer representation and seller representation are two very different concepts.
What area do you sell the most homes? - When you begin looking for a home you will need to narrow down where your ideal living areas will be. Using an agent with extensive knowledge of the area you're most interested in will aid you in finding the right home much faster. There are many real estate agents who specialize in one county, city or even one town!
What's the most you have negotiated off a home's price in the past 12 months? - Part of being a buyer agent is negotiating the best price possible for your buyer client. When interviewing your buyer agent you should know what their most recent successes have been for other buyers because there's a very real chance you will see similar results.
There are agents who constantly push for the maximum possible price reduction before you purchase a home and there are also agents who will be happy if you buy a home at asking price without negotiating at all. It's your money and future so knowing their negotiating success is crucial to your investment.
What type of incentives are being offered by builders and homeowners right now? - During down markets you will find a lot of home builders and sometimes even homeowners who offer incentives to entice you to purchase their home. Incentives can range from the seller paying closing costs and HOA fees to car leases and free appliances.
Do you have a network of contacts that I can use to make my buying process easier? - Who your buyer agent knows really does matter. What happens if you need a new home inspector at the last minute? Having a solid network of contacts will help streamline your home buying process making it much less stressful for you.
How quickly can I expect a response from you? - A big concern for home buyers is what is going to happen once you do start the home buying process. Will your agent be available by phone, text or email? Will you have to wait three days for a response? These are important questions to ask before you choose your buyer agent.
Knowing more about your buyer agent will make you much more comfortable about working with the agent and give you a better relationship to candidly discuss aspects of home buying like sale price, contingencies and what to expect throughout the transaction.
Joshua Ferris is an associate real estate broker in Orange County NY and specializes in both [http://housemeetsowner.com/orange-county-new-york/monroe/]Monroe New York and [http://housemeetsowner.com/orange-county-new-york/newburgh/]Newburgh New York real estate.
Article Source: http://EzineArticles.com/?expert=Joshua_Ferris http://EzineArticles.com/?Seven-Interview-Questions-to-Ask-a-Buyer-Agent&id=1805235
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Chennai Real Estate - Forging Ahead
India's real estate development is expected to grow at a pace of 30 per cent annually. This has a direct impact on the mega cities, especially the four metropolitans that provide real estate opportunities to grow manifold. Chennai real estate cannot be far behind.
There has been a huge demand for real estate in Chennai amongst the commercial and residential properties. In recent years, the city of Chennai has experienced a complete turnaround in its all-round infrastructure. The combined initiatives of the Government of Tamil Nadu and the Central Government are paying rich dividends in terms of approval of real estate projects related to infrastructural upgradations in Chennai.
Tata Realty and Infrastructure Ltd (TRIL) announced an agreement with Tamil Nadu Industrial Development Corporation (TIDCO) to jointly develop an IT special economic zone (SEZ). TRIL is a new enterprise of Tata Sons Ltd, the holding company of the Tata Group.
The SEZ will be implemented in two phases - the first phase of 2.30 million square feet will be ready by end-2009 and the remaining 1.70 million would be completed by 2011. TRIL has embarked on several projects for real estate and infrastructure development.
Located on a 25-acre plot in Taramani, the SEZ will include a five-star hotel or service apartments, an international convention centre and help generate direct employment for 40, 000 people and indirect employment to another 15, 000. Chennai real estate most certainly contributes in boosting economy of the state.
Not only Chennai Real Estate is developing rapidly along side the government of Tamil Nadu but also foreign developers are showing valuable interest in the Chennai real estate. For instance, the Lee Kim Tah Township development in Siruseri, near Chennai, reflects the success of Singapore companies who have forged successful partnerships with their Indian real estate counterparts.
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