Bharat Rakshak

Hari Seldon wrote:Am r2i of recent vintage. Back in bhagyanagaram, found a decent job back on desi shores. Won't say re-adjustment isn't dicey. city i grew up in is so different now, can hardly recognise but bits and pieces of it here and there as voices calling from far away.
.........

Looking for a sufficient (1500 sqft odd) 3BR flat from a reputed developer a little outside the happening itvity sector even.

Hari Seldon wrote:Did lookup Mantri. Not far from where am currently perched, mussay.

BTW, soooo like the idea of a beer-biryani meet. Was there for the last hyd meet last yr sometime. Was hoping to send out feelers for another hyd meet later this yr (after mid-nov, when I will have some breathing space from work). But should you call for a meet sooner, pls lemme know, will show up pakka-ich.

John Snow wrote:Any NRI holding land in India will come to know that he is holding "Former Land'

Swamy G garu there is road from Medchal Highway connecting Military prision in tirmalgherry road. On this way you will find Military Dairy Farm opposite to that we had Godrej Co perative housing society Land of 11.5 acres illegally occupied by Cong I goondas, we went upto SC we won but we cant physically go there...

I spent Rs 85,000 of my provident fund for about 600 sq yds in 1984. Now I am NRI owning Former Land.

...

But on the brighter side I have a paper registered to me , which I offer to anybody for 85000

SwamyG wrote:to whomsoever-interested, I am going with a flat in Ramky Towers. I was thinking of a plot with Obili Group; but after YSR's death I decided to play it a little safe.

surya: The GPA route is available.

Raghavendra Kamath & B Krishna Mohan / Mumbai/hyderabad September 22, 2009, 0:11 IST

The sales brochure offers you the opportunity to own Mumbai’s first managed private residences with a “lifestyle elevated up to the sky”. At Rs 28,000 per square foot plus other charges, Indiabulls Sky is also promising a 65-storey “marvel with opulent apartments, timeless luxury and impeccable butler service”. Indiabulls Real Estate, which has sold one-third of the apartments since the Lower Parel project was launched in the last one month, now says it will be selective in selling the remaining apartments to create a “classy neighbourhood”.

Apartments boasting the tags luxury and super-luxury — the two words forgotten in the real estate world in the last two years — are back with a bang over the last three months. What has brought back buyers this time is the fact that prices are much more reasonable than in 2006-07, when the same kind of apartment would have had an asking price at least 30 per cent higher.

Orbit Terraces, a luxury housing project by realty developer Orbit Corporation, also in Lower Parel, saw around 300 buyers making enquiries for 75 to 80 apartments when it was launched last week. The apartments in the project, which include duplexes with attached terraces, cost Rs 3.3 crore to Rs 6.6 crore for apartments ranging from 1,500 sq ft to 3,000 sq ft.

A host of other developers are also cashing in on what they call the new-found confidence among buyers. Take Mumbai-based Lodha Developers. The company, which used to sell two or three luxury apartments a month in south Mumbai till December last year, now sells 15 to 20 units a month, a top company official says. It has several projects such as Lodha Bellisimo, Lodha Primero, Chateau Paradise, among others, in South Mumbai.

And despite raising prices at the Lodha Primero project in Mumbai’s Mahalaxmi area 30 per cent, the developer has been able to sell 90 per cent of the apartments in the last one month.

"The luxury market was hit hard during the downturn. But sales have definitely picked up since March as the economy is on an upswing,'' says R Karthik, senior vice-president of marketing at Lodha Developers.

The rush for super-luxury isn’t restricted to the country’s commercial capital. In Hyderabad, for example, at least eight builders are developing multiple projects, under which each villa or a bungalow is priced around Rs 4 crore.

Sunish Tom, head of Dun and Bradstreet (D&B) Information Services India events and promotions, says there is a huge demand for exclusive, custom-built luxury houses.

D&B recently conducted Millionaire Homes 2009 in Hyderabad, a platform to introduce prospective buyers to property developers. At least 2,000 people have expressed an interest in evaluating luxury properties. Similar events have already been held at Chennai and Bangalore.

Ravi Sharma, deputy general manager (sales) of Lodha Group, which sold its luxury properties by invitation, says the company has identified 5,000 high net worth individuals in Hyderabad. “We do customer profiling before extending an invitation,'' he said.

The group sold 108 units of the 120 built in Phase I, due delivery in July 2011. Each unit was priced between Rs 2.5 crore and Rs 3 crore. The group plans to begin its second phase in four months. “There is demand for luxury homes. Most buyers want to stay in them and not see them as mere investment channels,'' Sharma said.

What defines luxury is changing rapidly. “Golf is the USP for us. There is a huge appetite for this kind of project,”' said Masood, managing director, Dax Properties, a subsidiary of Country Side.

Dax is coming up with a golf-centric villa project at Shadnagar (on the Bangalore highway), about 50 km from Hyderabad, covering 300 acres. It will have villas and villa plots ranging from 5,000 sq ft to 15,000 sq ft. In all, it plans to construct 1,000 villas in three phases including 250 villas in the first phase.

“The project is approved and the construction will start shortly,'' says Masood, adding that the project cost will be around Rs 500 crore.

Vipul Bansal, joint managing director of Indiabulls Real Estate, says the luxury segment was largely insulated from the economic slowdown. “The main reason for buyers staying away was that there was hardly any stock of high-end products in places such as south Mumbai,'' he says.

But analysts say the segment is seeing traction once again only because of aggressive pricing by developers. "Basically, it’s a question of keeping something on the table for buyers who need the comfort that they are buying a property that has scope for a 30 to 40 per cent increase after two or three years,'' says Raminder Grover, chief executive of Homebay Residential, a unit of Jones Lang LaSalle Meghraj, an international property consultant.

Some developers agree. "Though sentiment and pricing have improved, if you increase prices by 10 to 15 per cent, products cannot be sold as easily as you sell them today,'' says Ramashraya Yadav, head of finance at Orbit Corp.

According to Aditi Vijayakar, director of residential services at Cushman & Wakefield, a real estate consultancy firm, self employed people and businessman form the major chunk of new home buyers. That may not be surprising, since increments for salaried people are still subdued in Indian companies.

Buoyed by the new-found demand, many developers are planning new luxury launches. Orbit is planning one in Lower Parel during Diwali and another one in Andheri after Diwali, while Lodha is planning two more luxury projects in Mumbai shortly.

kayzee wrote:Did he mention completion by aug with a 3 month grace period?

SwamyG wrote:

kayzee wrote:Did he mention completion by aug with a 3 month grace period?

For me it was 4 month grace period. After that they start paying us rent at about Rs10 per sq ft.

Rishirishi wrote:My parents are thinking to rent out a flat in Noida, 3/4 bedroom, 5th floor with double lift, pool and 24 hour electricity water backup "best" society in sector 50 . They asked me to place an ad in the internet , they will only consider corporate rentout. My question is?

How is it renting out to corporations?
Wich sites are good to post the plat on, to find customers?

Is it smart to rent out the flat at all?

shyamd wrote:Supposedly from 2011, loads of big bankers in yindoostan predict that real estate is going to be huge. So lots of big players are positioning themselves at the moment, buying up loads of land etc in cities also areas outside the cities.

vera_k wrote:There's the #2 alright. But India has no death tax and waives off capital gains if proceeds from prior real estate sales are reinvested into real estate. So there's a perfect recipe for a Ponzi scheme right there.

waives off capital gains if proceeds from prior real estate sales are reinvested into real estate.

vera_k wrote:There's the #2 alright. But India has no death tax and waives off capital gains if proceeds from prior real estate sales are reinvested into real estate. So there's a perfect recipe for a Ponzi scheme right there.

Vipul wrote:Badeji, A lot of No 2 income is invested in such premium construction types. I have heard such dealings take place even in companies which tout 100% check payment.