Corporate giants to enter the market : Accommodationtimes.com

ACCOMMODATION
TIMES
Fortnightly on A to Z of Real Estate

Workshop on 80IB
of Income Tax and Accounting
Standards for Real Estate Thursday 18th January 2007

Bombay High court has given an interim order in favour of developers in the forest issue. Stay has been lifted for Petitioning development. ; Ahmedabad: The city is emerging into a major commercial hub. Improved infrastructure in the old city as well as on the out skirt is giving all the advantage to have better sale of properties. Recent campaign by the builder to promote city properties overseas got tremendous response and the rates are all time high after NRIs are pumping in the funds. Residential rates are ranging between Rs.650/- to Rs. 1350/- per sq.ft. in posh locations. Commercial is going steady since lot of space still left out to be occupied. Lease rentals are rising and more MNCs are likely to come in the market. ……Amritsar: The city of Golden Temple is enjoying rich harvest in the property field. Funds from rural Punjab is coming in the city and builders are busy selling properties on planning stage. Local demand also emerging into a strong real estate market. Large properties are not available on options. Residential rates are ranging between Rs.700/- to Rs.3000/- per sq.ft. in posh locations. Commercial premises are also in demand. Huge malls and commercial complexes will soon be part of the city's skyline……..Bangalore: The market is up again. NRIs and IT professionals came in the city for job are having good purchasing power. Residential rates are touching highest point. Flats are not readily available for choice. Residential rates are likely to go further up by 10% within 3 months. Great time ahead. Commercial premises are having great market. Closed projects are opening up for next phase…..Bhopal :State government is serious about improving the infrastructure in the city. Massive plans are on anvil. The city has become hub of commercial activities in the region. Residential rates are rising and will soon be creating history. Commercial premises will have to wait for some time now, because demand for large spaces still not in fashion in the city……Cochin: After getting centre government's attention, the city is booming. Special package to improve city's port and allied infrastructure is boosting the real estate development in the city. Commercial premises and warehouse are much in demand. Residential rates are still stagnated……Coimbatore: Textile market in the city is coming to a mature stage. Cottage industries for knitting and dying are getting good export jobs. Purchasing power of the city is increasing. Residential rates are touching new heights. Commercial remises and malls are in the business. Good time ahead……Kolkata: The city has transformed into an international destination. Trade from Bangladesh and far east countries are booming. Honey, woods, paper and other allied industries are getting very good business. NRIs and people working in other states are pouring in the money into real estate. Although the residential rates are still stagnated and hardly any improvement but commercial premises are getting good demand…..Chennai: The city is now a junction for trade and major export port. Aftermath of tsunami, the city's landscape is getting sea change. Premium properties near sea are in the market for distress sale. Hotel industry is looking at land northward of the city. Water is still major factor for city's real estate development. Residential rates are all time low. Commercial premises are still having somewhat hopes. The city is a decade back city again as far as the trend is concerned…….Delhi: Booming. The national capital is all set to go for a big innings. Massive construction activities are in offing. The malls and commercial premises are in the market more then residential accommodation. Proper Delhi and CBD are still dearer as far as residential accommodation is concern. Budget homes are available on the out skirt, Noida, Gurgaon and Muradabad.. NCR region is all set for land grabbing and huge sale of primary market if in offing…..Hyderabad: Cyberabad alias Hyderabad is loosing its charm among IT professionals and firms. Lack of proper infrastructure and language problem is the major factor for such trend. Residential accommodations are going in for rentals only. Outright sale is restricted with corporate only. Local demand is only 5% of the total sale. Commercial premises are still dearer. It may start falling any day……Indore: The city is promising big returns to its investors. Investors and speculators are active in the real estate market. Residential rates are increasing and marginally higher then the actual rates. Commercial rates are having no trend. Some of the reputed names are selling it much higher then the market rates, rest are waiting for the takers…… Mumbai: The city is gearing towards a confused market. Land and FSI are being sold to builder on actual ready stock market rates with inflation in mind which is still to come. Investors and speculators are playing big game in primary market. Housing finance institutions are also pumping in huge funds to acquire old properties for redevelopment. Rates for residential and commercial accommodation are historically high. NPA from banks already in the market and will correct the rates in next six months. ….. Pune: Bullish market is vibrant. NRIs and IT sector is all set to take it further up. Projects with branded builders are giving huge profits for investors. Demand for residential accommodation is still not up but, new infrastructure for commercial premises are getting international attention. Reputed names from Mumbai are already in for capitalizing market trend.

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GOVERNMENT CONTEMPLATING NATIONAL RURAL HOUSING POLICY : The Government is contemplating to formulate a National Rural Housing Policy which is presently in the preliminary stage. The Development Alternatives (an NGO), have suggested a frame-work for a rural habitat policy for India. The National Housing Bank have also given suggestions on financing the rural housing sector. These suggestions are being examined and will suitably be incorporated in the draft Rural Housing Policy.This was stated by the Minister of Rural Development, Dr. Raghuvansh Prasad Singh in a written reply in Lok Sabha today.

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