Indian Railways plan to develop a 15ha plot in central New Delhi has attracted a lot of interest, with at least 30 developers attending a pre-bid meeting on 23 January.
Thirty-six major developers registered for the event. Thirty major firms, including DLF (Ltd), Parsvnath Developers Ltd and the Mantri Group, have attended, said P.D. Sharma, member, projects, Rail Land Development Authority (RLDA).
Initial bids for the project were called earlier this month. They are scheduled to be opened on 4 February.
More : livemint.com
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Even as the real estate industry continues on its downward spiral, the Indian Railways is considering offering concessions to attract bidders for an 11-acre plot of prime land in Bandra in Mumbais western suburbs.
The agency in charge of such land sales had earlier dropped the reserve price for the plot from Rs4,628 crore to Rs3,960 crore, but analysts said the price on the property could fall an additional 15-20% below the new reserve price.
The Rail Land Development Authority—an agency set up by the railways to monetize a portion of the 43,000 acres of surplus land it holds across the country—is
Property brokers are taking advantage of the slowdown in the residential real estate market by increasing the commission they charge from developers. As house and apartment sales sag, brokers, who typically charged 2-5% of the value of the property as commission, are demanding as much as 8-9%.
The slump in sales is so dramatic that developers are willing to pay a higher commission, says Sanjay Sharma of Gurgaonscoop.com, a website on the real estate market in Gurgaon, a New Delhi suburb. Earlier, an 8-9% commission was given by weak or smaller developers… Now the trend is even developers of large luxury
Winds of change are sweeping across the real estate sector. After creaming the top end of the market for some years, reality has finally sunk in and builders are now flooding the market with affordable homes.
Ever since the government announced that state-owned banks will provide home loans up to Rs 20 lakh at not more than 9.25 per cent for the first five years, real estate developers have started working their prices around the Rs 20-lakh figure.
Dozens of real estate developers have announced homes at below Rs 25 lakh in the National Capital Region of Delhi. Till some months ago,
Indian Real-estate appreciation will depend upon location
Real-estate price of India is going up. But the escalation in prices is not linear. Not all real estate is going up in prices equally. The trick in buying real estate in India is in buying a property (especially land) at a price next to nothing when it is in remote area and very few developers eying on the same. If you are not able to do that then do not invest when a developer build apartments or shopping complex or homes in the remote areas. The reason is after the builder is done
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
