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Media Information
Demand For Housing Sector Gains Momentum

Published & Updated as on - 2010-03-26

If realtors' sales figures in the first few months of this year are anything to go by, demand for housing is picking up at all price levels, and is almost back to pre-slowdown levels. In fact, projects are being sold within days of launch. Realty major, Emaar MGF sold 650 flats, priced Rs 48-80 lakhs, in its Palm Hills project in Gurgaon within a day of its launch. Last month, DLF announced that they sold out 1,200 units of independent floors, priced Rs 30-60 lakhs, in its Panchkula Valley housing project near Chandigarh within a week of launch. Supertech Ltd, a Noida-based company, sold 500 flats in its Eco Village project in Noida Extension in three days. Though the foundation stone of the project has still not be laid, the company has already sold one-third part of the first phase in the project.

Source: 13 March 2010 Business Standard.

Gurgaon, Mumbai Top Destinations For Housing

Gurgaon and Mumbai have emerged as the topmost destinations for residential investment in the country. According to the fourth quarter Asia Pacific Property Digest by global real estate consultant Jones Lang LaSalle, both have seen a huge infusion of commercial and retail space owing to residential demand, which in turn was spurred by a growth in employment opportunities. The residential market in both the regions saw a price correction of 25-30% from their highest values which presented opportunities to end-users and investors alike. In spite of being hit hard by the recent downturn, the residential sector has emerged as the sole bright spot for individual investors, the digest ranked Noida, Pune, Bangalore, Chennai, Hyderabad and Kolkata behind Gurgaon and Mumbai.

Source: 19 March 2010 The Financial Express.

Cost Of Affordable Homes Up By 32%

If you're searching for a house in Mumbai, you may have missed that ideal window. After plunging by as much as 30 per cent, bottoming out in early 2009, realty prices are now rising faster in Mumbai than in any other city in India, as per a recent study. Affordable houses that cost between Rs 5 lakh and Rs 30 lakh have seen the biggest jump - 32 per cent in six months. The study has been conducted by real estate research agency PropEquity.

Source: 17 March 2010 Hindustan Times.

Hindustan Construction Plans To Buy Swiss Real Estate Firm

Hindustan Construction Co. said that it agreed to acquire a 66% stake in Swiss real estate developer Karl Steiner AG for about $33 million in cash to gain a foothold in Europe and the Middle-East. The deal will also help the company expand into the fast-growing buildings construction segment in India.

15 March 2010 The Wall Street Journal.

Unitech To Build 5 Msf/Yr In Mumbai

Unitech Ltd, along with its joint venture partners in Mumbai, is planning to build 4-5 million square feet (msf) of properties in Mumbai from the next fiscal, according to a source familiar with the development. The realtor, which at once heavily relying on luxury projects in the National Capital Region, has shifted focus on developing Mumbai's slum rehabilitation projects to push up its operating margins. It is expecting about 20-25% of its total sales to come from the city by the fiscal 2012. The company has already invested Rs 850 crore in two joint ventures, Shivalik Ventures and Unitech-Omkar, and would also invest Rs 150-200 crore as the development progresses.

Source: 17 March 2010 DNA.

Anant Raj To Develop Residential Projects Again

After focusing on the commercial property space for years, Anant Raj Industries, infrastructure development and construction firm, wants to launch its residential project in Manesar, Haryana. The company is going to launch the project by April-end with total 'developable' space of one million square feet and total revenue generation of Rs 200-250 crore in the next one year. The size of the project would be of 4.5 million sq ft, and the realtor would offer 575 flats in the first phase with a price range of Rs 32-42 lakh. The unit sizes would be in the range of 1,650-2,000 sq ft. According to an analyst, Anant Raj recently purchased 12 acres in Manesar and 10 acres in Sonepat for Rs 45 crore and Rs 15 crore, respectively. In addition to that, the company is looking to launch its South Delhi premium residential project in the next two months with 80 luxury apartments spread over 0.2 million sq ft, with a revenue generation of over Rs 500 crore.

Source: 18 March 2010 DNA

New Trend In The Realty Market - Flats On Sale Before Project Launch

Rising real estate prices has forced realtors to resort to the old method of pre-launch sales, which they say will help them gauge the market and raise money for their projects. In a pre-launch sale, bookings of the property are done before the formal launch of a project. Pre-launch sales are usually targeted at investors, who book flats only to make profits. Developers also offer these buyers heavy discounts. A.A. Estates Private Limited, which is building 391 luxury flats at Sunder Nagar, Kalina, in Mumbai has also had a pre-sale launch. Other than that, Hicon Builders at Bandra, Patel Builders, Kandivli, and Karnani Developers at Khar have had pre-launch sales in the past few months in Mumbai.

Source: 16 March 2010 Hindustan Times

Mahindra Lifespace To Build Business Parks In Chennai And Pune

Mahindra Lifespaces Developers Ltd is in the process of acquiring around 4,000 acres in Chennai and Pune, where it plans to come up with two more business parks, a top official said. The developer is acquiring around 1,000 acres of land in Chennai and around 3,000 acres in Pune, Ms Anita Arjundas, Managing Director and Chief Executive of the company, said. The firm already has two business parks of about 4,000 acres under its commercial segment.

Source: 17 March 2010

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