No frills, Simple homes reads the banner hanging in the Delhi headquarters of Unitech, Indias leading property developer.
Its a mantra that has been taken up by realtors across the country with a new-found passion for affordable housing that owes little to their social conscience and everything to their bottom line.
The global economic downturn ended a four-year property boom in India that had largely been driven by the luxury housing segment and saw a near three-fold increase in residential prices in major cities.
Now developers are turning their attention to middle and lower income buyers and low-cost housing that offers lower profit margins but enjoys much greater demand.
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They are calling it Diwali madness but it is a sign of the times - property developers in India are offering massive discounts as the markets suffer from the global finance crisis.
Everywhere you look there are offers. Posters declare – discount bonanza - and the deeper you delve the better the bargain.
Offers include free covered parking spaces, exemptions from preferential location charges, discounts on the rate per square feet of the property, paid interest and holidays.
Some developers are also offering to pay stamp duty and registration fees which can account for between 4 and 10% of the cost of buying
Everywhere you look there are offers. Posters declare - discount bonanza - and the deeper you delve the better the bargain.
Offers include free covered parking spaces, exemptions from preferential location charges, discounts on the rate per square feet of the property, paid interest and holidays.
Some developers are also offering to pay stamp duty and registration fees which can account for between four and 10 per cent of the cost of buying a property. Then there are offers to pay electric bills for a set period.
More : themovechannel.com
An Indian property developer is planning to start work on 65 million sq ft of new homes across the country.
Central Park has already established itself as a major developer in India’s National Capital Region or NCR, which covers Delhi and surrounding regions.
It is now instigating a plan to become one of the biggest property developers in the country and revealed it is now backed by Ashmore Associates, a UK investment firm which has taken a stake in the company.
More : offplanpropertyexchange.com
Property developers in Gujarat are devising ways to tap the lucrative `Non Residential Gujarati market to get them to invest in the State.
One such effort was made at the recently concluded World Gujarati Conference organised in New Jersey by the Gujarat Institute of Housing and Estate Developers (GIHED), in association with the Association of Indian Americans in North America (AIANA).
Prominent members of the Gujarati community, many of them potential buyers, attended the event and were shown the possibilities of investment in their native State by a delegation of developers from Gujarat. Though actual transactions were not many , participants
DHFL Property Services Ltd, a 100% subsidiary of housing finance company Dewan Housing Finance Corporation Ltd (DHFL), is paving the way for urbanization of rural India in association with regional builders and developers.
The company has tied up with various builders across rural and semi-urban India to market affordable projects under its low-cost housing schemes for low-wage earners. The company will initially market schemes in the suburban areas of Mumbai, Chennai, Ahmedabad and Hyderabad, the company said.
DHFL Property Services will market 2,400 houses in Vatsalya Developers Dream City project in Boisar. The flat size would range between 380 sq
