Risks associated with property transactions in India could reduce with at least three insurers submitting details of the property title insurance products they wish to launch to insurance regulator Insurance Regulatory Development Authority, or Irda.
People familiar with the submissions said ICICI Lombard General Insurance Co. Ltd, National Insurance Co. Ltd, or NIC, and HDFC Standard Life Insurance Co. had filed details of their products with Irda as any company wishing to launch an insurance product here is required to. Executives at ICICI Lombard and NIC confirmed the submissions. Executives at HDFC Standard Life Insurance could not be reached for comment.
The spokespersons for two other insurers, Iffco Tokio Ge-neral Insurance and Oriental Insurance Co. Ltd, said these two firms are also working on title insurance products.
More : livemint.com
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UK-based real estate developer Dandara is looking at Indian corporates and business community to invest in properties being developed by the firm in London, Manchester and Glasgow.
The attractive scheme offered by Dandara ensures that an Indian buys a new flat at Rs 20 lakh only and the remaining cost of the flat is recovered through leasing out the property over 15 years.
Dandara has already signed 67 such deals with Indians based in Mumbai, Bangalore, New Delhi and other big cities. Out of this, 27 deals have been signed with different corporates and executives.
More : business-standard.com
This sure is a double whammy for the plush South Delhi residents. With the insurance companies bringing in a free tariff regime from January 2007, residents of areas that see maximum car thefts will end up paying more for insurance.
The insurance will also go up if you own a car that is seen as theft-prone.
And going by the statistics, people living in the posh South Delhi colonies and owning a small car are set to pay the most.
The area that tops the chart when it comes to car thefts is Lajpat Nagar. A total of 170 cars
Grappling with a slowdown across segments, the Indian property market is heading towards the next phase of consolidation. Liquidity crunch in the real estate market is beginning to drive many mid-sized and small developers to scrounge for cover.
Many want to liquidate their land and incomplete projects by selling them to bigger developers or private equity players even at lower valuations. Whats forcing them to take this step is a stagnant market, with property rates undergoing major correction in some cities. Around 15 deals in real estate sector have fallen through in the past two months with investors developing a
Home truth No 1: Your dream home is waiting for you... only, its price might have more zeroes than you thought. The recent sale of a bungalow on Man Singh Road, for instance, netted around Rs 150 crore -- the highest in Delhi. "Dress-tag conscious people always prefer posh colonies over suburban ones due to their central location, peaceful ambience and proximity to clubs, bureaucratic colonies, government offices and good schools. Also, easy accessibility to the domestic and international airports and good infrastructural facilities make them a preferred location," says the spokesperson for real estate service firm Cushman and Wakefield.
Worried that property prices may cool down? With India tipped to become the most sought after real estate market among emerging economies, you may not really have to fasten your safety belts just yet. In fact, just 10 land deals in India over the past 12 months were valued at over a whopping Rs 15,000 cr. Evidence enough to prove that reports citing office rentals in Delhi and Mumbai being costlier than more developed real estate markets such as New York City, Dubai and Singapore, are not off the mark.
While realty giants such as DLF, Unitech and Hiranandani Developers
