Tata Housing, Neptune launch luxury residential project Eleve in Mumbai

Tata Housing has launched a premium new housing project called Eleve in Mumbai. The project, which will offer 2BHK, 2.5BHK and 3BHK units starting at Rs. 1.4 crore, is being built in collaboration with the city-based realtor Neptune group and is spread across 22 acres of land. Located in Bhandup, ‘Eleve’ will have access to the Eastern Freeway, Tata Housing said. “Eleve, located in the heart of the region, will not only deliver the quality and living standards associated with all Tata Housing projects, but promises to be a lucrative…

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Shapoorji Pallonji unveils plans for mega luxury housing project in Bangalore

While many real estate majors have started going slow owing to huge unsold inventories, Shapoorji Pallonji Real Estate has just announced the launch of a huge residential project in Bangalore. The project, known as Phase 2 of the luxurious ParkWest project in Bengaluru, involves 11 high-rise towers and outstanding amenities spread across a sprawling area of 47 acres. The project will also include a Bio-diversity Park over 7 acres and a Clubhouse over 4 acres. The list of amenities includes an Aerobics Pod, Amphitheatre, Barbeque Pavilions, Basketball Courts, Butterfly Park,…

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Poddar Developers waives off stamp duty and registration charges

West India focused Poddar Developers said it will pay stamp duty and registration charges on behalf of their customers in this festive season in a move that will translate to a saving of 5-6% for the buyers. The offer is available on three affordable housing projects – Poddar Evergreen in Badlapur, Poddar Aspire in Kalyan and Poddar Navjeevan in Atgaon. The locations close to Mumbai and are served by local trains. “These apartments are built with the best branded fittings, modern amenities like club house, cricket pitch, gardens etc. Further…

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Real estate prices decline in North India, rise in South, West – report

A report by magicbricks.com has revealed that real estate prices are seeing a downtrend in North India, while continuing to rise in the West and the South. Real estate prices increased in markets such as Bangalore and Hyderabad. “The southern region comprising of Bengaluru (6%), Hyderabad (4%) and Chennai (1%) was the best performer followed by the western region with Mumbai (3%), Pune (3%) and Ahmedabad (0%),” the report said. In contrast, “except for Gurgaon (0%), the City Index for other cities in North India (Delhi, Noida, and Ghaziabad) declined…

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Puravankara announces plans for Hyderabad, sees real estate prices rising

Puravankara, one of South India’s biggest real estate companies, has set its sights on Hyderabad, one of the few cities in India where real estate prices are still largely affordable. Bangalore, Puravanakara’s home market, as well as Delhi and Mumbai, have seen prices increase so much over the last few years that demand has been hit. “We are very confident of the Hyderabad Real estate market and its high potential for appreciation,” said Ashish Puravankara, Managing Director, Puravankara Projects. “The Real estate prices have been increasing gradually and are very…

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Hiranandani offers to pay your rent while they get flats ready

Real estate player House of Hiranandani is offering to pay the rent of its customers who book a flat at its high-end Egattur project in Chennai for 18 months after booking. In addition, the customer will have to pay only 25% upfront at the time of booking, it said. “The remaining 75% can be paid at the time of possession and in the interim we will pay rent to our customers,” House of Hiranandani said. This is the latest offer from developers trying to revive interest in a slow real…

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Housing.com gets a new Chief Business Officer

Housing.com, which recently fired its founder and CEO Rahul Yadav, said it had appointed Jason Kothari as its Chief Business Officer and member of the Operating Committee to drive its overall strategy and growth in India. Jason, together with iCEO & COO Rishabh Gupta, will be reporting to the Operating Committee and the Board, the company said. Prior to Housing.com, Jason was the co-founder & CEO of Valiant Entertainment, where he successfully led the acquisition and turnaround of former $65 million unit of video game company Acclaim Entertainment, which owns…

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Real Estate sector disappointed with status-quo by RBI

Even as many voices said that the Reserve Bank of India is unlikely to cut interest rates further this year, the real estate sector — though disappointed by today’s actions — is holding out hope that it will do so in coming months. On the RBI’s decision not to cut rates during its third monetary review today, the sector was pragmatic. “This policy is on the expected line from the Apex Bank,” said Manoj Gaur, President, CREDAI NCR. “In recent months, financial markets have experienced high turbulence due to the…

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Godrej properties Q1 PAT up, total income down

Godrej Properties announced its first quarter results, reporting a 21% increase in net profit to Rs 55 cr. Total income fell to Rs 263 crore compared to 363 crore, while EBITDA increased by 7% to INR 81 crore from INR 75 crore. EPS amounted to INR 2.76 as compared to INR 2.29. Total booking value during the quarter was at Rs 1,251 Cr vs Rs 824 crore last year, same quarter. It also achieved highest ever deliveries in a single quarter – 1.72 million sq. ft. The quarter saw total…

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Sobha launches ultra-luxurious residential tower project in South Bangalore

Real Estate player Sobha Limited has launched a new ridge-top project in Bangalore called ‘Sobha Clovelly’, which the developer calls ’boutique homes’. The apartments stand tall along a geographical ridge, thus capitalizing on the beautiful vistas of the city’s skyline. “This new project will certainly be a trend-setter in Bengaluru’s real estate market and an apt one for customers looking to move beyond apartment-style structures and explore newer ways of modern living. Given its unique futuristic aspect and high focus on luxury, boutique homes are positioned to attract those who…

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Great Online Home Festival generates sales of Rs 300 cr

Great Online Homes Festival (GOHF), co-organized by Magicbricks, Google and Group M, generated property sales worth Rs 300 cr and more than 500 bookings, organizers said. A total 9 million page views and 4000 coupons were generated, Magicbricks said. Speaking on the occasion, Mr Sudhir Pai – CEO, Magicbricks, said, “The successful conclusion of GOHF marks an important milestone for the Indian real estate sector. We are overwhelmed by the record-breaking response from customers, which signals a paradigm shift in the customer psyche so far as the decision of online…

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HDFC Q1 Consolidated profit up 18%

Housing Development Finance Corporation Limited (HDFC) reported profit after tax stood at Rs 1,361 crore as for the April-June quarter compared to Rs 1,345 crore in the previous year. The consolidated profit after tax stood at Rs 2,204 crore as compared to Rs 1,873 crore in the corresponding quarter last year, representing a growth of 18%. HDFC is one of India’s biggest financiers of real estate. It has been able to report good growth in recent years due to a boom in real estate prices, and activity, in the country….

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Housing.com bags 5 awards from CMO Asia

Housing.com has won five awards at the prestigious National Award for Marketing Excellence hosted by CMO Asia for its ‘Look Up’ campaign. Housing.com swept awards across five key categories including “Brand Excellence in e-commerce and Internet Business Sector”, “Emerging Brand Award” and “Best New Brand, Product and Service Launch”. Housing.com’s ‘Look Up’ was also awarded “Marketing Campaign of the Year” and “Best Use of Social Media”. The “Look Up” campaign was launched earlier this year and brought a new brand identity to the company along with a new logo and…

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Tata Housing offers free Jet Privilege Miles for NRI buyers

Tata Housing is offering 72,000 – 10,00,000 Jet Privilege Miles to non-resident Indians who purchase any flat from the company undeer its “happy returns” scheme. NRIs contribute between 15-20 percent of Tata Housing’s total sales and this has been increasing since the last few years, the company said. “We expect this to increase to 25-30 per cent in the next 3-4 years.” The scheme was announced along with the inauguration of their international office in Dubai. “This offer is applicable to any customer living outside of India with a valid…

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Hiranandani offers incentives on Bangalore projects at Devanahalli, Bannerghatta

House of Hiranandani, a real estate player in India, has come up with special offers on its Bangalore properties located in Banerghatta and Devanahalli. It is waiving floor-rise charges at the Banerghatta project and offering lenient financing schemes for its cottages at Devanahalli. “Customers will not have to pay any floor rise for higher floors. The offer provides scope for capital appreciation to the buyers from the day of booking as they stand to save up to 7% on the total cost of the house,” House of Hiranandani said. “This…

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Wave Infratech to sell flats via Snapdeal, Housing.com

Wave Infratech said it would offer properties under its Wave City Center and Wave City on Snapdeal.com “As a first in the online selling space, Wave Infratech would be offering a host of products – Irenia, Vasilia, Livork Studios at Wave City Center and Wave Executive Floors, Wave Floors Premium and Dream Homes at Wave City on India’s largest ecommerce marketplace – Snapdeal,” it said. The offers are exclusively available to NRI customers from the USA, the UK, Singapore and the Middle East. Wave Infratech would be offering selected products…

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Brigade Group sells 27 flats in 3 days via GOHF

Brigade Group, one of the leading developers of South India, saw 27 of their flats booked online as part of the Great Online Homes Festival (GOHF) organised by Magicbricks, GroupM and Google. GOHF, the ten daylong festival from 18-27th July 2015, is the largest property festival till date in India. With properties worth Rs. 3000 crore and participation from more than 110 developers, GOHF is the biggest platform for the online property buyer, the classifieds firm said. “The ten day long online property festival has received tremendous response from the…

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Indian Real Estate Bubble is starting to burst – Report

The Indian Real Estate sector is starting to unravel with prices having fallen 7-18% in India’s large cities over the past year, Ambit Capital said in a report. “In Delhi, our meetings with businessmen who live in south Delhi suggest that prices in this prime part of Delhi are down 20-25% over the past year and transaction volumes have fallen sharply. “In the smaller cities, the situation seems to be worse, with our contacts in Jaipur, Rajkot and Lucknow also pointing to a 15- 20% YoY correction and sellers saying…

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No revival for NCR Real Estate market despite price correction – Survey

The NCR residential market is stuck with an estimated inventory of 1,70,000 units while another 90,000 dwelling units under-construction are likely to be delayed for hand-over, reveals the ASSOCHAM recent survey. “A large inventory is piling up despite prices correcting by over 20 per cent in the last one year, while there is a huge fall in the new projects being launched by developers who are hard-pressed for cash,” the paper noted with concern. The increase in inventory level is because of the falling demand from actual users as also…

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Godrej Properties sells Puravankara Bangalore plot to Shubh Properties

Godrej Properties Ltd said it has transferred majority ownership in a special purpose unit developing an 18-acre plot in Kanakapura to Shubh Properties Cooperatief U.A. — a joint venture between APG Groep N.V., Sparinvest Property Investors and Godrej Properties Ltd.. The plot was acquired by Godrej Properties (in association with Dutch pension services provider APG) earlier this month from Puravankara. The stake transferred is to the extent of 74.90%. It has been given in Godrej Home Constructions Private Ltd — a specal purpose vehicle of Godrej Properties Ltd — which…

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