What Factors Should One Look At Before Investing In Pune

In the last two- three decades more and more people are interested to buy a property in Pune. But often people find themselves feeling jittery before purchasing a property at Pune. Fraudulent practices and mistrust in real estate in Pune has made the matter worse for people looking to buy plots / land, villa, independent house and flats in Pune. 

Before buying a flats in Pune one should do a quick background check of the builder. Research and find the right developer and real estate company. This will help you to get a great sense of security that your money is safe. Also ensure that developer of property at Pune has acquired all the necessary approvals. Don't forget to check the timelines, also make sure that they are covered well in you property in Pune sale agreement. It is advisable to research about all the extra charges such as parking charges, club membership fees and also government taxes as well as charges, as these charges might give you a headache. If you are taking a home loan to buy a property in real estate in Pune thing can become simpler as the bank will do most of the due diligence for its customers.

Before to buy house and plot in real estate in Pune make sure that you have hired a well-knowledgeable lawyer who is well versed about land as well as revenue matters. Carefully check for the title of property at Pune that is coming by way of registered documents of property in Pune. Also check that the PR card has the name of the previous owner of property at Pune. Since land investments require a huge investments one should keep the property well protected. It is advisable that you build a fence around your property at Pune to protect it against encroachment.

Correct Time to Purchase Property in Bangalore

Purchasing properties Bangalore is a good idea as currently Bangalore real estate is available at a good price and builders are also going great lengths to attract buyers to their newly launched Bangalore properties. Currently the Bangalore real estate market focuses on the middle class buyers and budget homes. This is the reason why Bangalore real estate almost never faced a slump as they target the middle class. 

With relaxation in government policies such as offering an tax exemption on home loan the government has offered tax benefit to middle class people. Also there is a renewed interest in constructing affordable properties Bangalore after the relaxation in FDI in construction.  

As per market analysis, the period is just right to Bangalore real estate. Along with the rise in property prices, the number of new constructions too has seen an escalation. The major hot-spots where real estate Bangalore is seeing an upsurge in new constructions include localities like KR Puram, Electronic City, Whitefield, Jayanagar, Sanjay Nagar, Old Madras Road and JP Nagar. Apart from this, buyers' interest is also going all up. In 2014, the absorption rate of real estate Bangalore is also escalating: a clear indication in rise of interest of end-users in new projects. The rest of the year is also expected to fare well in terms of absorption rate. If that happens, the imbalance between demand and supply shall correct. This shall make the prices fall back to their correct values.

Buy or rent residential and commercial properties Bangalore over the real estate site, Makaan.com. The property site lists lakhs of properties in India real estate from prominent builders, real estate developer and owners. Get fine-tuned results by searching and sorting on the basis of dimensions like location, budget, age, and type of property in India real estate.

Indiabulls Buys Chennai Property at 600 Crore

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One of biggest transactions has been witnessed in the Commercial property Chennai market. Indiabulls Distribution Services an arm which is owned by the Indiabulls Securities, has recently bought a commercial property at Chennai. The complex of commercial property Chennai has been purchase for Rs 600 crore. Earlier this property at Chennai was owned by India Land and Properties which is owned by a hedge fund called the Americorp. 

It is believed that the property at Chennai has been purchase at Rs 2,500 per square feet. Experts believe that the property Chennai has been purchased at a decent price. The commercial complex hosts three towers which have a built area of 2.4 million Sq. ft as well as leasable area of around 2 million sq ft. As the property is a ready one Indiabulls considers it as a good deal. The complex measures 10 acres and around 50% of the complex properties in Chennai has been leased out to companies such as Royal Bank of Scotland, Britannia Industries Limited, Ajuba, Kone Elevator, Telebuy, Covenant, IBox among others. Indiabulls is currently planning to rent out out the remaining properties in Chennai. 

The company is planning to fund the property Chennai transaction through private equity funds as well as internal accruals. Indiabulls is also planning to rename the commercial complex as One Indiabulls Park, Chennai. However, the company states that the deal has no connection whatsoever with the Indiabulls Real Estate which is the real estate arm of the Indiabulls group.

Recently several prominent high value transaction have taken place in key southern markets of Chennai, Bangalore and Hyderabad. Recently in October 2014, Flipkart a leading online retailer had entered into one of the biggest commercial property deal in India in Bangalore. This move movement in the much stagnant Chennai realestate industry.

Supertech To Offer Affordable Housing in Gurgaon

Real Estate Gurgaon at Makaan.com

People who were not able to find affordable properties in Gurgaon can now take a sigh of relief as Supertech a Noida based realty company plans to invest in Gurgaon real estate and flats in Gurgaon. The firm is looking to invest approximately Rs 2,000 crore in Gurgaon real estate in the next few years. The group plans to develop several luxury as well as affordable flats in Gurgaon. Recently Supertech has launched two projects in Gurgaon real estate . The company has acquired 400 acres of land in Gurgaon real estate. 

The group for the first time has hired a CEO, who will take care of the realtor's operations in the Millennium city. According to industry experts, this move showcases the importance the firm gives to developing proprieties in Gurgaon. The Millennium City is one of the largest and most important real estate markets in India. In the past few months the company had raised Rs 400 crore from a private equity firm Xander in order to finance its upcoming township that will offer flats in Gurgaon and affordable properties in Gurgaon. Although the company has a major presence in Noida Supertech is also now trying to set it footprints in Gurgaon. The companies also has a presence in Rudrapur, Meerut, Dehradun, Ghaziabad, Haridwar and Bengaluru.   

Currently Supertech has approximately 90 million sq. ft. land under construction in various segments such as residential, commercial as well as hospitality. The company has also recently announced a university in Uttarakhand. However a few months back Supertech faced a setback after the Supreme Court had ordered the builder to refund money of investors of it two towers in Supertech's Emerald Court located at Expressway Noida. Alongwith this the court has also directed the company to refund money to the investors with 14% interest compounded annually.

Demand For Luxury Flats In Kolkata Increases

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The real estate in Kolkata is witnessing a huge change in the house buying trend. The cultural capital was once looked as a place where one could purchase affordable properties. But now more and more people are looking to buy luxury flats in Kolkata over affordable Kolkata flats. The capital city of West Bengal houses numerous industries and it acts as a corporate and educational hub in the eastern region and so the demand for budget to mid-segment property at Kolkata has always been increasing. But now working people are showing keen interest in luxury Kolkata flats.

This change in the real estate in Kolkata can be attributed to increase in disposable income of a working couple. The buying power of people has increased as the pay scales have gone up in the past few years. Today people of Kolkata want to experience and enjoy luxury lifestyle. They are willing to show off their wealth and even developers are keen to capitalize this changing trend real estate and so they have started to launch luxury projects that are offering luxury flats in Kolkata.  

This change in Kolkata real estate is being welcome by industry players and real estate developers as they feel a new market segment has evolved in the real estate industry. But if one is planning to book quick profits in premium India properties a person will have to wait as he will have to hold a property for at least five to six years till they can earn a decent return of investment. Also investing in premium real estate in Kolkata also requires more funds. Since premium property in India are unsuitable for investment purpose as not many people show an interest to invest in the luxury sector and there is a sufficient supply of such properties in the Kolkata real estate market.

Supertech Raises 275 Crore

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A realty major Supertech has managed to raise 275 crore from popular Indiabulls Housing Finance for the construction of the company’s ongoing projects for property Noida Extension, Greater Noida properties. The real estate company is currently developing around 12 ongoing projects, most are residential property in Noida Extension, Noida and Greater Noida. The 275 crore have been raised as debt and the company can raise the amount if they require more money to construct Greater Noida properties.

The realty major was facing liquidity crunch owning to slowdown in the real estate sector. Supertech has raised the money so that the slow down does not affect construction of Greater Noida property. The real estate company has developed several Greater Noida property, Noida properties, Ghaziabad properties and property in Noida Extension. Now the company plans to expand to other markets as well. Supertech has recently entered the Gurgaon real estate market. The company has bought Rs140 acre land at Sohna in Gurgaon. According to experts the land was bought from Parsvnath, another popular realty group, for Rs 665 crore. The company has also launched a housing project in Bangalore, this project will focus on luxury properties.

Earlier in the year, Supertech had raised around Rs 400 crore from a private equity firm Xander so that it would be able to finance the its upcoming property and housing projects in Gurgaon and integrated township project in Gurgaon. Currently it is estimated that the real estate company has projects amounting to more than Rs 18,000 crores in its platter. The developer has over 90 million sqft land under construction.

Earlier the Noida-based realty company based a major blow after high court had ordered the demolision of it two 40-storyed structure for flouting land rules. The high court had asked the builder to refund money of the people who had bough flats in the two towers.

Rentals Rise in Bangalore

Buying a land, plot or flat in real estate in Bangalore is becoming unreachable and therefore more and more people are choosing to take a residential property in Bangalore on rent which lies in close proximity to their office location. The capital city of Karnataka is witnessing lack of space making it difficult for people to find a suitable residential property in Bangalore to purchase. Even though currently there are no buyers in the market the prices of Bangalore property seem to rise unfailingly. It has been seen that in the last few years people who wanted to buy a property in Bangalore at affordable prices were forced to look in suburban areas or on the city’s outskirts. But prices of Bangalore property in these suburban locality have also sky-rocketed, this has left a bad taste in the mouth of the buyer who are clueless about how to busy a suitable property Bangalore.

Fraudulent property deals, delay in possession of property in Bangalore, fake promises by dealers, have made investors wary from investing in property Bangalore. It seems that property in Bangalore can now only be afforded by the rich and affluent. This is the reason why the Bangalore property market does not invoke any interest from both end-users and the investors. Skyrocketing property prices have made Bangalore property market unsuitable for buying and therefore for many people choose to take Bangalore properties on rent. Also, traveling in Bangalore is a headache and so people prefer to pay extra money to rent a flat near their office in exchange for comfort and convenience. Since the supply of properties in Bangalore is not increasing according to the huge demand, the rentals are also now increasing and touching the roof, now only time will tell when will rentals in the capital city of Karnataka will stabilize.

Self Sustainable Properties The Way Forward

Pune properties have been a popular choice of investment for second home for people living in Maharashtra. Property for sale in Pune has seen a rise due to rise in the number of working class in the city. The city is expanding at a whopping pace. The outskirts are seeing a rapid development due to presence of IT campuses. Whats more interesting to see is the fact that more people are interested to buy a property in Pune for sale in integrated township rather than investing in standalone building.

Pune properties in integrated township offer people the opportunity to walk to work. Property in Pune for sale in township has allowed people to slow down their fast face and breathe easily. Ample open space, and various facilities has allowed people to enjoy life. Properties Pune in self sustainable township not only enhance lifestyle but they also allow people to live a balanced life.  

Property in Pune for sale in such township offer all facilities life swimming pool, gym, sauna, tennis court, health care facilities, schools, 24- hour water and power supply, enhanced security under one roof. Although buying such properties Pune can prove to be a little expensive but they are worth every penny spent. Also in the long run they offer better ROI and rental income prospects. Several developers are keen to develop integrated societies as they seen a big appetite for it.

According to the latest data there has been an increased in the number of launches of such township in the last few years. And, people are also willing to pay a little extra in return of facilities and enhanced lifestyle. Properties in self sustainable townships can be bough in various price segments. Properties can be bought in mid-segment, budget segment, affordable segment, luxury segment as well as ultra-premium segment.

Avoid These Mistakes While Buying A Chennai Property

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Property at Chennai attracts a lot of customers, some buy Chennai properties for self occupation whereas others do it as an investment purpose. Well although buying flats for sale in Chennai is a wise investment option one could make several egregious financial mistakes. Already the property rates at Chennai are reaching the sky, making financial mistake might you hard. Here are some points that one should keep in mind to avoid financial mistakes before buying flats for sale in Chennai.

Understand your budget: Know your financial consideration, you might already be paying a car EMI or school fees, understand how much can you invest. Don't exceed your budget, people often get tempted after looking a luxury Chennai properties. Also, if you are paying rent buying a ready-to-move-in property at Chennai will make much more sense. Agents and brokers who will show you Chennai properties for sale will often tempt you by saying that property investment is a one time investment but always keep your budget in mind before making a final decision.

Consider Additional expenses: There are a lot of hidden costs involved when one buys Chennai properties for sale. One has to pay brokerage charges, stamp duty, registry duty, maintenance charges. Some builders also charge floor rise, preferred location charges, club membership, parking space. One should keep in mind the additional charges one will have to pay.

Choosing Your Loan: Most of the people who are looking to buy a Chennai property, plan to take home loans. Always compare interest rates of various banks, both public and private. One can logon into various sites that compare interest rates of various financial institutions and banks. People should also carefully consider their loan tenure. Always choose to take affordable home loans so that you don't strain your budget.

Why Pune Real Estate Is Doing Well

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Pune, the cultural capital of Maharashtra and the 8th largest city of the country, has offlate seen a good appreciation of prices of properties in Pune. Proximity to the financial capital of India, good weather, presence of various corporate and IT hubs, educational and recreational facilities have helped to promote Pune real estate. Although the overall property market in the country is not performing well the city is going extremely well when compared to cities like Delhi, Bangalore and Mumbai where the prices of property have seen a huge downfall. Although Pune real estate has been affected by the downturn but the impact has not significantly reduced the price of properties in Pune. 

So let us understand the USPs of real estate in Pune that have saved it from a drastic fall in property prices

Location: Properties Pune have a location advantage, as they are in close proximity to Mumbai, India’s financial capital. 

Affordability: Properties Pune are still much more affordable when one compares the property prices of real estate of any major city of India with real estate in Pune. Be it purchasing a flat for sale in Pune or a commercial property, its much more economical to invest here than in any other major metro city of India

Low Rentals: Many corporate and offices have shifted to city owning to affordable rentals that bring down the operating cost of a company. 

Excellent infrastructure: The city offers excellent infrastructure, it has good roads which enables good connectivity. Also there is no death of entertainment, educational and recreational hubs. 

Presence of IT hub and various industries: Presence of various IT hubs and industries have made Pune an opportunity and employment hub. Many people who come to city city prefer to pay EMI’s rather than paying rent and therefore the demand of flats for sale in Pune has increased drastically.

Ghaziabad Offers Affordable Flats

Flats in Ghaziabad are the most sought after properties in the NCR area. Real estate Ghaziabad has grown tremendously due to improved connectivity. People prefer to buy Ghaziabad flats, as they are a more affordable option than buying flats in Gurgaon or Delhi. Over the years properties in Ghaziabad have seen a good appreciation after Delhi Metro line was introduced. Ghaziabad flats located near metro stations are also now commanding high rentals and are offering handsome ROI. Flats in Ghaziabad that are located near educational and business hubs are also in high demand as they fetch handsome rentals. Many students and bachelors take Ghazizbad properties on rent, that lie close to their office / colleges while staying in the city.

As the infrastructure of the city is improving many people are keen to invest in properties in Ghaziabad. Real estate Ghaziabad, is a great place to invest if you are looking to buy an affordable property in the NCR area. People who already have a home in Delhi / Gurgaon look at this destination as a place where they could invest in a property or a second home that would get them high ROI's or good rental income.

Also several people who are planning to stay in the NCR  for a longer duration are preferring to buy a property in the National Capital Region rather than staying on rent. Giving rent gets no returns, and therefore people always opt to buy an affordable property in Ghaziabad real estate. People prefer to pay EMI instead of giving rent. Often people in metropolitan cities are unable to buy an flat or a property due to extremely high prices because of which taking a loan become unfeasible. But this is not the case in the NCR area as Ghaziabad real estate offers plenty of opportunities to invest in affordable and mid-segment properties.

Kolkata Real Estate Sees A Stagnant Phase

Real estate in Kolkata has been stagnant for quite some time this can be attributed to several factors. Firstly there are no employment opportunities for the young and therefore most of the young people prefer to shift out of the city. This worrying scenario has led to stagnation in real estate in Kolkata  and reduction in rental prices.

Residential as well as commercial Kolkata properties have simply no takers. Due to unfavorable government and labour policies not many corporates are willing to shift to the city. Even though the city has a huge talent pool MNC's are unwilling to open an office in real estate at Kolkata. Most of the new constructions which were offering flats in Kolkata have also slowed down their work due to lack of demand. Real estate at Kolkata is witnessing rise in unsold inventor. It seems that almost nobody is interested to buy flats in Kolkata. 

Also there are almost no infrastructure projects coming up in the city. Metro rail work too is going on in a painstakingly slow space. Although Kolkata is called the cultural capital of India the real state of Kolkata is seeing a bad phase. Roads in the city are in a pretty bad shape, frequent traffic jams and clogged roads has made life hell for commuters. Poor infrastructure facilities and lack of initiatives by government to improve the situation has also worsened the scenario for Kolkata properties. The government does not take a keen interest to improve the opportunities offered to the youth then Kolkata will see unabated population immigration. Although the capital city of West Bengal does house many industrial units but better facilities should be offered to corporates which will incite them to open more offices in the city. Only continuous efforts from the state government can help to improve the situation in Kolkata.

Looking For An Affordable Property In Ncr? Head Towards Faridabad

If you are looking to buy an affordable property in NCR then you must head towards Faridabad. In this satellite city of Delhi one can still buy an affordable property. Faridabad offers easy accessibility to both Delhi, Noida, Greater Noida as well as Gurgaon. With the development of Faridabad-Gurgaon highway traveling between the cities has become much more simpler.  The city of Faridabad also houses reputed school, colleges and educational hubs. All these factors make Faridabad an attractive investment option, buying a property in Faridabad can therefore reap lucrative results.

Many renowned builders are offering affordable mid-segment property in Faridabad. Many integrated societies that are offering world-class facilities are being developed in the city. Buying a property in Faridabad can prove to be a wise investment decision as affordable properties means affordable EMI's. People who are paying high rents in various other satellite cities of Delhi can choose to buy a property in Faridabad and pay an affordable EMI instead of paying rent. The city is encircled  by New Delhi in North, Noida in North East, Greater Noida in East and Gurgaon in West. Therefore people living in a Faridabad property can easily accessible various parts of National Capital Region.

Not interested to buy a property? Taking a Faridabad property for sale and on rent is also an economical option. Rentals in the city too don't pinch the pocket. The city offers an affordable real estate solution to all those who are not interested to pay high rents and to the people who are interested to buy a affordable property in NCR.  Soon the Delhi metro will be launched in Faridabad and the Faridabad property prices will see a huge appreciation due to improved connectivity. It is therefore advisable to buy a property in Faridabad while it is still affordable and within reach.

Mumbai and Its Problems

Mumbai real estate is termed as one of the most expensive real estate markets across the world. Mumbai real estate is always in demand due to lack of space and unabated population migration. Lack of space has also led to increase price in rental as well as residential properties in Mumbai. Although Mumbai does not face electricity or water supply shortage, the city is plagued with several other problems.

Traffic management is extremely poor in the city. It often takes one hours to reach a destination that is just a few kilometers away. Roads have potholes which makes traveling a task in itself. During rains the situation becomes worse as the drains get clogged and the city comes to a standstill. Almost every year Mumbai witnesses a day when the city is shut down due to incessant downpour. 

Although Mumbai local trains are considered as the lifeline of the city, traveling in local trains during peak time is almost impossible. Even the first class compartments are no better. Even during non-peak hours traveling in local train is nothing less than a nightmare as people throng a train as soon as it arrives on the station.

Properties in Navi Mumbai has thrived inspite of all these limitations partly due to lack of space and partly because it is a land of opportunities and employment. The city is a dream destination for many. Many people who want to achieve something in life, come to the city to fulfill their dreams, little they realize that living in Mumbai is not easy. One has to constantly rush and run to earn their living. Cost of living is also too high in Mumbai and owning a piece of land in real estate Mumbai is just out of question. Mumbai being the financial hub of India should also scale up its infrastructural facilities that match it prowess.

Residential Properties in Navi Mumbai

Earlier, Navi Mumbai properties were bought by all those who could afford a property in Mumbai. The satellite city of Mumbai was developed in order to handle population migration. Navi Mumbai property was the saving grace for any seeker planning to buy a property in the financial hub of India. But like any other area Navi Mumbai too have seen a steep rise in property prices in the last few years.

Renewed interest from NRI's, development of infrastructure, broad roads, has attracted several people to shift their commercial properties to Navi Mumbai. Navi Mumbai properties for sale are available for much lower rentals and therefore several corporate companies are keen to shift to the city. Many people who had invested in Navi Mumbai properties some years ago have reaped huge benefits. Some people have also seen a double digit ROI. Some people had also invested in Navi Mumbai property to get a decent rental income. But with inflation and lack of space in Mumbai- Navi Mumbai is also witnessing lack of real estate space, which means the prices of Navi Mumbai property have escalated.  

Real estate investors are displaying a keen interest to invest in commercial and residential Navi Mumbai properties as the satellite city of Mumbai is witnessing some confounding developments such as development of IT parks, up-coming spacious knowledge hubs, Exhibition and Convention Centre, announcement of Navi Mumbai International Airport, SEZ, etc. Already this city is considered as a center for the steel market.

Property in Navi Mumbai attracts many as several people who are not able to buy a property in Mumbai are able to buy spacious property in the city. In the satellite city of Mumbai one can find properties in Navi Mumbai that fit into everyone's budget. From premium properties in Navi Mumbai to mid-segment housing; every person will be able to search for a suitable Navi Mumbai property for himself

Campa Cola Residents Hoping For Relief

Most of the occupants of residential properties in Mumbai in Campa Cola complex are looking to return to their homes. A few months back the people living in these properties in Mumbai were forced to vacate their home after Brihanmumbai Municipal Corporation (BMC) had started the demolition proceedings. currently people are waiting for the BMC to file a reply to their plea in the Supreme Court.

People had moved out of illegal residential properties in Mumbai after BMC had removed gas, water and electricity connection from illegal residential properties in Mumbai. Most of the people had vacated the flats and had taken a flat on rent or shifted with their families and friends. But now most of the people are planning to return to the complex. The residents have now filed a appeal with the honorable Supreme Court (SC), asking about the details of the case. They want to know why the BMC has still not found a solution to their problem. The SC had asked the civic body to evolve a solution.

The civic authority has always maintained that there can be no amicable solution to this particular issue. The civic authority was given two weeks by the honorable SC to file its reply. In the next hearing which was held on 1st September 2014, the civic authority had requested more time from the apex court. They have sought another four weeks to file a reply. The deadline given to BMC is about to end and hence people are keen to move back to their Indian properties in Mumbai.

People are trying to buy gas cylinders for cooking, use emergency light and torches during the dark and buying water from nearby slums to meet their daily basic requirements. All that these people can hope for is a quick solution offered by the BMC.

High Prices Make It Unrealistic To Buy A House In Mumbai

As compared to other cities, the real estate in Mumbai has shown an acceleration in property prices  in the last few years. With such a sky-rocketing rise in rates, the demand has not risen at the same pace. Therefore inspite of various baits offered by the builder in the form of discounts and freebies, the investors are finding it difficult to pay a whopping crore or more for a 2BHK flat in a decent locality in the financial hub of India. As a result a large chuck of property is lying unsold. Overpricing of property rates can be seen in almost all areas of Mumbai like Thane, Powai, Navi Mumbai, Goregaon, Borivili and Malad. Prices in Navi Mumbai real estate as well as flats in Mumbai have reached a new high.

The acceleration in Mumbai property prices can be attributed to many factors. On the main factor of this scarcity of land in the region. Scarcity of land has led to lesser number of project launches, this can also be due to the agonizingly slow pace at which real estate developers are able to get approvals from government authorities. Although Navi Mumbai was devloped to tackle the land shortage problem of Mumbai but due to overpopulation and concentration of people in the city, it seems that even real estate in Navi Mumbai is running short of land. Secondly, real estate developers have to endure heavy taxation, which forces them to raise the rates for projects in Mumbai accordingly.

Real estate Mumbai and Navi Mumbai properties is largely under the control of powerful brokers and industry players. This allows the brokers extort and twist the property Mumbai prices.  Strcit policing and vilgiance is required to keep this act under check so that affordable housing is available to all people in Mumbai.

SIT Reveals That Faulty Construction Caused The Collapse Of Moulivakkam Building

Real estates in Chennai was in for a shock when two buildings in Chennai had collapsed which caused the death of many innocent lives as well as loss of money and property. But investigation now reveals that the building in Moulivakkam, Chennai which collapsed on June 28 was not build according to the submitted plan. Reports indicate that structural engineers has removed crucial weight bearing  pillars in the basement of Chennai properties. These pillar which were supposed to support the Chennai property were removed in order to make a larger parking space for the residents. This means that the site engineers had deviated from the original plan that was submitted and approved by the City's civic authority Chennai Metropolitan Development Authority (CMDA).

Removing of the pillars has proved to be a big mistake as the India property Chennai collapsed and this sad incident resulted in injuring 27 people and the death of 61 people. To probe in the incident Tamil Nadu chief Minister Ms.J Jayalalithaa had announced an Special Investigation Team (SIT) to investigate the collapse of real estates Chennai. The SIT was working under supervision of S. George, Police Commissioner. The team also got expert advice from the Public Works Department(PWD), Anna University, IIT Madras. The team also conducted soil tests as well as inspection of construction materials. The investigation took a total of 50 days, and it came out with 10 key findings.
The team concluded that density of the concrete which was used for construction was unsatisfactory, steel samples were also of bad and substandard quality. The soil bearing capacity was deemed as inadequate and there was very low overall structural stability. The team also found that people who were enraged as engineers on the property sites were not qualified to do the job in real estates in Chennai.

Political Turmoil Ends And Property Prices Rise

Now that that political turmoil over the bifurcation of  Andra Pradesh has ended and Telengana has been formed the real estate in Hyderabad, India is showing positive signs of revival. It is expected that in the next few months, the demand for real estate in Hyderabad, India to increase. It can be anticipated that the demand for Hyderabad properties – both residential as well as commercial will increase. Price appreciation of Hyderabad properties is also on the cards. All these positive trends in real estate in Hyderabad can be attributed to end of political confusion and full-scale infrastructural development happening in the city. Full scale construction on outskirts of the city are a proof of this fact. Places like Outer Ring Road and localities near International Airport are witnessing surge in residential projects. Top-class real estate developers are launching both affordable as well a luxury Hyderabad properties which will cater to home buyers from all the sections of the society.

The real estate in Hyderabad has also got boost by the announcement of Hyderabad-Warangal industrial corridor and development of 158-km long Outer Ring Road. This expressway connects Shamirpet to Pedda Amberpet and offers speed and fast disposal of traffic. The development of Hyderabad Metro is another development that is accelerating the real estate prices of the city.

In West Hyderabad, the hot localities are Manikonda, Gachibowli, Gandipet, Kokapet and Tellapur. These realestate in Hyderabad properties are being developed for the middle-segment buyers. Hyderabad properties, have for a very long time seen a stagnant phase but now things are impoving. The Chief Minister of Hyderabad has also announced several new infrastructural facilities to boost the realty sector of the city. Several projects in Madinaguda, Miyapur, Madhapur, Hi-tech City are already witnessing an increase in demand of Hyderabad property and apprecaition of realty prices.

Architects Conferred With Unesco Award

Recently the Shri Sakhargad Niwasini Devi Temple complex  has been given the Unesco Asia-Pacific awards. The property in Pune has been awarded for conservation of the cultural heritage site. The complex has received the award after it was restored by the Pune-based Kimaya architects, which is headed by conservationist Kiran Kalamdani.

This award is Pune division's first UNESCO award. Fourteen projects from 10 different countries, like Afghanistan, New Zealand, Iran and Thailand were competing for the award. Kimaya architects were conferred with the award as they had spearheaded the temple complex restoration. This award is given to individuals and private organizations who have worked successfully in restoring and conserving heritage sites. The award aims at recognizing and appreciating private efforts to restore historic sites. The award aims to encourage people to undertake conservation projects to protect heritage structures.

The jury panel which include nine international conservation experts gave the award to Shri Sakhargad Niwasini Devi Temple, located in Kinhai Village, Pune in Maharashtra, after taking a look at the striking transformation the Pune Property. The property at Pune underwent remarkable transformation as this properties in Pune required some major repairs. Several analysis were done on the property at Pune so that the temple retains its original vibrancy. The award aims to highlight the hard work put in restoring a heritage site.

Apart from this properties in Pune awards of  merit were given to Exeter Farm in Australia; Wak Hai Cheng Bio in Singapore;  Frankton Boatshed, in New Zealand; Phraya Si Thammathirat Residence in Thailand.

Many structures were also given an honourable mention. These structure are Shahzada Hussain Mausoleum, in Afghanistan; Gali Surjan Singh in Pakistan; Rottnest Island World War II in Australia; Cape Inscription Lighthouse Keepers' Quarters, in Australia; Nanjing Yihe Mansions in China; De Driekleur in Indonesia and Esplanade House in Mumbai.

Mumbai Property Bought For 175 Crore By BL Jatia Group

Real estate in Mumbai is abuzz with the news of sale old Razak Haven, a three-storey dilapidated building located at Nepean Sea Road in the posh south Mumbai area. It is believed that the building has been sold for approximately Rs 175 crore. The dilapidated real estate in Mumbai property has been bought by the well known Amit Jatia belonging to the Jatia family of the renowned B L Jatia Group. Amit Jatia, 47, manages 174 McDonald food chain spanning across 17 cities in the country. He has a net worth of Rs.5, 739 crore .

The Jatias are well-known fast food tycoons in India. The are the master franchise of McDonalds. In 1995 Mr. Amit Jatia had started a 50:50 partnership McDonalds and since then he has owned the McDonalds franchise in west and south India.

The residential property in Mumbai bought by the Jatia family, is said to be almost a hundred years old. The structure is positioned in the tiny Darabsha lane at the Nepean Sea Road. According to the insiders the real estate Mumbai deal was finalized last week. It is being estimated that the family has bought the real estate Mumbai property so that they can reside in it after the redevelopment work is completed.

Currently the Jatia family lives at Breach Candy, and it is being said that the family has been look to buy a larger Mumbai property. The century-old structure Razak Haven has housed numerous owners and a few tenants. This is not the first time that a family has bought an expensive Mumbai property not as as an investment, but for the purpose of residing in it. Earlier too several promient industrialist had bought bungalows so that se could redevelop it into a comfortable abode.  Mr. M P Aggarwal who is the chairman of Sajjan India had bought Glamis Villa last year. The bungalow at Breach Candy was bought for Rs 180 crore so that Aggrawal could refurbish it in a comfortable home.

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Skyrocketing Property Prices In The City Of Dreams

Mumbai is a city of dreams that brings many people to its shores. But over the years due to rise in demand of real estate in Mumbai the prices of property in Mumbai have reached a new high. Buying flats in Mumbai, these days, has remained the sole privilege for the very affluent class, especially in the Western Sururb of the dream city. In areas like Powai, Andheri, Jogeshwari and Goregaon an unfurnished, 650 ft., 1 BHK flat can cost you anywhere between 60 lacs and 1 crore!! The prices in real estate in Mumbai has swelled too much that it can burst any time now. Areas such as Thane and Navi Mumbai that were supposed to offer the affordable housing to middle and lower-middle segments, who could afford to buy property in Mumbai, are ranking high in terms of price rates. What could be the reason behind such a catastrophic rise in rates?

The inflation that hit the Indian market recently resulted in an appreciable increase in the cost of construction materials like sand, cement, steel etc. To compensate for their invested money on these, developers started raising the rates. But they were not fair in doing so: they let the prices get appreciated too much, so much so, that the Mumbai flats gained a considerable raise in terms of prices. The greed of developers and builders, along with their nexus with political authority gave them ample freedom to appreciate the prices too much.

Seeing the hefty rates, the demand for real estate and flats in Mumbai came to an all-time low. Even the middle and upper-middle income groups started wavering from their decision to buy. In spite of the fact that the demand dwindled, the developers did not lessened the rates. Instead, to bring back the customers, they came up with offers like freebies and small discounts. But this strategy of theirs has not brought any fruitful result. As long as the prices do not get corrected, it would be difficult to see the demand get any increase.

State Government Changes Land Laws To Attract Investors

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In a decision that is expected to have far-reaching consequences on property Bangalore and industrial development, the State government has offered to simplify the age old land reforms laws. The State government has tabled The Karnataka Land Reforms as well as the Certain Other Law (Amendment) Bill, 2014. These bills will pave the path of reducing procedural delays in the government. 

In the present scenario, a non-agriculturist who has an annual income of over Rs 2 lakh is not allowed to buy agriculture land Bangalore property. But, single-window committee or the state high-level clearance committee (SHLCC), under its vested powers can allot agricultrual real estate in Bangalore for industrial development. The Agricultural property Bangalore can also be alloted for development of places of worship, educational institutions, residential Bangalore properties and many other purposes according to the section 109 under the Land Reforms Act.

After allotment of agricultural properties Bangalore the allotee , under section 109 has to meet and request the district deputy commissioner (DC) to apply for land conversion of properties Bangalore according to the section 95 of Karnataka Land Revenue Act,1964. After introduction of this new legislature, the tedious process of requesting for the DCs permission to allow the conversion of Bangalore properties will be removed.

The new legislative will also allow the State government to take back agricultural land from all those who have not utilized agricultural land for the purpose for which it was given. This means several owners of educational institutions, industrialists, developers of residential properties, people who own places of worship, would have to surrender their allocated lands if the State government if they the land sanctioned to them has not been utilized for the specified purpose within the 10 year period. The land surrendered back to the government will be put under the properties/ Land bank of the State government.


Makaan.com is a reputed property portal that lists 1 BHK, 2 BHK and 3 BHK properties in Bangalore across variable price brackets. Cheap, budget, and luxury Bangalore real estates are available for buying, selling, and hiring on rent.

Realty market in Bangalore

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Recession, no matter in whatever form it comes, always makes the future look bleak. The same thing happened when properties Bangalore realty market faced a slump. The prospects of its recovery were quiet weak. But every tunnel has light at its end. Bangalore real estate is now out of that tunnel and getting prepared itself to stand tall once again. This can be seen from the way property prices are getting appreciated here. The authorities are all set to start afresh, and government has even chalked out a plan for garnering revenues from registration of new houses. The builders are back into action: some of them have already slated their residential and commercial projects in different parts of the city.

As per market analysis, the period is just right to Bangalore real estate. Along with the rise in property prices, the number of new constructions too has seen an escalation. The major hot-spots where real estate Bangalore is seeing an upsurge in new constructions include localities like KR Puram, Electronic City, Whitefield, Jayanagar, Sanjay Nagar, Old Madras Road and JP Nagar. Apart from this, buyers' interest is also going all up. In 2014, the absorption rate of real estate Bangalore is also escalating: a clear indication in rise of interest of end-users in new projects. The rest of the year is also expected to fare well in terms of absorption rate. If that happens, the imbalance between demand and supply shall correct. This shall make the prices fall back to their correct values.

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Bangalore builder to pay for delay in flat possession

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In a landmark judgment in Bangalore realestate  Karnataka State Consumer Disputes Redressal Commission has asked a leading Bangalore realestate developer to pay a a substantial amount of cash for failing to give a possession of residential property in Bangalore within the stipulated time. The developer of realestate in Bangalore has been asked to pay an interest of 15% on the cash that was paid by the purchaser towards the sale of residential property in Bangalore.

According to the complainant the purchaser had bought residential Bangalore property . He was promised that the possession of flat in real estate in Bangalore India would be given in January 2003. He had requested the builder to merge the 2 flats of 1,150 square feet each and provide him with a larger flat which measures 2300 square feet. A sale deed was signed for the same, but when the developer of real estate in Bangalore, India failed to give him possession even in 2010, the complainant had to approach Karnataka State Consumer Disputes Redressal Forum.

The commission asserted that it is clear that the two parties had entered in a sale agreement in 2001. The complainant had paid builders of realestate in Bangalore an amount of  Rs 11.5 lakh, and the balance was to be paid in the year 2002. The purchaser had asked Rs 20 lakh as a compensation amount apart from seeking directions that the developers of real estate in Bangalore India to execute the deed. The commission has said that the delay of the property site was intentional and it has asked the builders to execute the sale deed of the 2,300 square feet property site within a month. The commission has also asked the builders to pay 15% interest on the money given by the purchaser alongwith Rs 2,000 as litigation expenses within a month. Makaan.com is India property sites that deals with real estate India. The property site lists India property and property in Ahmedabad.

Demand for Luxury Housing Increases in Pune

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The Pune real estate is seeing a paradigm shift in house buying trend. The city was looked as a place were one could buy affordable properties. But the trend now seems to have changed as more and more people are preferring luxury properties in Pune over affordable Pune property. The city house numerous IT companies and it acts as a corporate and educational hub in the western region and so the demand for affordable to mid-segment properties in Pune has always been increasing. But lately working people have started showing interest in luxury properties in Pune.

So what has led to this change, this change in the real estate Pune can be attributed to rise in disposable income of an working couple. The purchasing power of people has gone up as the pay scales have risen over the years. Today people want to experience luxury they want to show off their wealth and to capitalize on this changing trend real estate developers have also started to launch luxury properties in Pune. 

Depreciation in Rupee has only fueled this trend as NRI too are keen on investing in luxury Pune property. This change in Pune real estate is being welcome by industry players as they feel a new market segment has come up in the realty industry. But if one is looking for quick profits in luxury India properties one will have to wait as people will have to hold a property for atleast five years till they can earn a decent return of investment. Also investing in luxury real estate in Pune also requires more funds. Since luxury India properties are not suitable for investment not many people are keen to invest in this sector and there is a sufficient supply of such properties in the real estate Pune market. Makaan.com, India's fastest growing property search portal offers a complete list of commercial as well as residential properties in India which are available for buying, renting and selling.

Damaging Property Might Lead You Into Trouble

Chandigarh Property at Property

Causing damage to public or private Chandigarh property in the state of Punjab during a strike, rail or road blockade might invite punishment in the coming months. The state government is planning to come up with a bill that will allow the state to prosecute all the people who damage the Punjab state's public or private property. If one is caught damaging Punjab's public or private property including property Chandigarh he may face an imprisonment of up to one year alongwith a hefty fine.

Although the main opposition party Congress has accused the SAD-BJP coalition government of suppressing the voice and sentiments of the protesters, the current state government said that the new law is being introduced on lines of the honorable Supreme Court directions for protecting India Real Estate.

The new bill is called the Prevention of Damage to Public and Private Property Bill 2014. According to the bill any person found guilty of causing damage to public or non public property might be awarded a jail term that could extend till one year, the person may also be liable to pay a fine which might extend upto Rs 1 lakh.

The Bill also states that any person found guilty of causing damage to private and public properties including Chandigarh property by fire or any other explosive substance can be punished with a jail term not less than a year but which might extend to two years and could be liable to a pay fine of upto Rs 3 lakh.

According to the Bill, the said definition of damaging act includes strike, agitation, bandh, dharna, or demonstration, blocking of rail or road traffic by which may cause damage to any public or private property Chandigarh.

The bill also states that no court lesser to the court of Chief Judicial Magistrate can carry out the proceedings of the offense committed to damage India real estate under this Act.

Hilton to come up with 2nd hotel in Bangalore

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Hilton Worldwide, a well known name in the hospitality industry, has recently announced that it aims to open a new hotel in India. Hilton has several India properties and it also facilitates online property booking of hotels. The hospitality chain will be coming out with a new property in Bangalore which will be named as 'the Hilton Bangalore Embassy Golf Links'. This Bangalore property will developed jointly by Hilton Worldwide and a prominent real estate developer Embassy Group. The Bangalore based Embassy Group has already invested Rs 350 crore to built 247 room hotel property in Bangalore which will spread over four acres. Currently Hiton group has one Bangalore real estate which is Double Tree Suites By Hilton Bangalore.

This will the Hiton's 13th India properties and second Bangalore property. With the opening of new Bangalore hotel the total rooms operated hospitality giant has reached to 2,000 in India. Hilton Worldwide is currently also in talks with several other companies in India to expand its presence across the country in the next  few years. The company in the coming months, will also open its Double Tree hotel brand in Agra and Conrad hotel brand in Pune. Currently the hotel chain has only four out 11 brands in India, in the coming years the hospitality giant aims to improve its presence.

The Embassy Group also aims to increase its market presence in hospitality industry and so the real estate developer is also planning to buy and come out with hotel properties Bangalore. The company is in process of acquiring  Four Seasons hotel for 600 crore.

In the city one can find several 5 star hotel properties in Bangalore which offer online property India booking facility: Bengaluru Marriott Hotel Whitefield, Clarks Exotica, Crowne Plaza Bengaluru Electronics City, Four Points By Sheraton Bengaluru Whitefield, Hotel Royal Orchid, Hyatt Bangalore MG Road, ITC Royal Gardenia, Bengaluru, ITC Windsor Bengaluru, JW Marriott Hotel Bengaluru, The Lalit Ashok, etc.

Budget homes in Faridabad

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If one is looking to buy budget property in Delhi NCR one should invest in property in Faridabad. The city stands out amongst other Delhi NCR cities as a budget residential place to buy a house. The proclivity of the buyers has been largely for apartments in Delhi, Gurgaon, and Noida,; Faridabad has still not witnessed that kind of penchant that its counterparts have been through. The city carries immense potential to become the next big thing in realty circuits. Availability of infrastructure and good number of developmental land parcels are the prime reasons why one should invest in property in Faridabad. Faridabad real estate can give tough competitions to other Delhi NCR cities. The affordability factors is another factor that go in its favor.

Faridabad houses hundreds of large-scale companies like Shova, Lafarge, Imperial Auto Ltd., Birla Escorts group, Yamaha, ABB, GoodYear, NHPC Ltd, Indian Oil (R&D), Havell's, L&T, Mahindra Defence, Thomson press,etc. People can seek to invest in properties in Faridabad that lie close to industrial areas. Several new industrial projects are also coming up in the region, one can also look to invest in a flat in Faridabad near upcoming industrial projects. The city also houses several reputed colleges and educational institutes. Families with children can look to buy properties in Faridabad near popular and reputed school.

Faridabad also offer numerous tourist attraction like Dhauj Lake, Raja Nahar Singh Palace, Aravali Golf Course, Nahar Singh Cricket Stadium, Suraj Kund Tourist Complex and the crafts fair, Jharna Mandir village Mohabbtabad, Shri Parshvanath Digambar Jain Mandir, Badkhal Lake, etc. People looking to buy a second vacation home can think of investing in flats in Faridabad near these areas. 

Makaan.com is a major real estate website to buy property that features cheap houses in Faridabad and other cities. Mid-segment and luxury property in Faridabad is also featured online.

Chennai Properties Allure Investors

Chennai, the capital city of Tamil Nadu, has attracted many people to invest in Chennai real estate. Chennai real estate is booming as the city is equipped with excellent infrastructure, stronghold in software sector, upcoming metro project. The upcoming Chennai Metro that is supposed to be developed in two phases has sparked an interest in properties in Chennai. The properties in Chennai around the Metro area have already witnessed a rise of about 15% in property prices.

Over the years property at Chennai has shown a considerable appreciation but the return on investment has largely been depended on the area of the property site. Properties Chennai located at Central and South Chennai have offered high ROI's whereas North Chennai has not shown any major movement in property prices. In Central Chennai demand for residential properties Chennai has outstripped supply. In Central Chennai particularly, the demand market has performed well. Still, there are localities like GST, Oragadam, and OMR where the number of unused inventories is quiet high on account of lack of demand. The overall transactions for flats for sale in Chennai improved last year.

In South Chennai, traction has been observed in some parts like Thoraipakkam, Perungudi, and Perumbakkam. Over Perumbakkam, a number of mid and high-end realty projects have been launched. Velachery, an area with a strategic location and super-connectivity, has seen price appreciation in last several months. With the construction of several integrated projects , Semnnachery has performed quiet well. Siruseri too has seen a plethora of mid and small segment housing projects going on; the presence of Asia's largest IT Park has awarded it with the commercial and corporate importance. East Coast Road(ECR) is dotted with a number of luxury projects and is witness to a high demand for high-end bungalows.   

Makaan.com was incepted by People Group, the site offers list of properties Chennai and real estate Chennai.

Gurgaon's groundwater level drops

The demeanor of Gurgaon, on front of real estate, keeps on changing, as it happens with other cities. Right now, a lot has been happening in terms of realty market as it seems that in a few years time Gurgaon will become a dry state. The cause of distress is the city's groundwater level which is depleting at an worrying rate. The groundwater levels in the city see a reduction of more than one meter per year. This alarming situation may seriously affect the real estate of Gurgaon as it may scare future investors of Gurgaon properties.

People are blaming receding groundwater table on the MNC boom, which has caused real estate developers to make more commercial properties and flats in Gurgaon. In the last two decades India real estate sector saw major movement in real estate Gurgaon. The real estate Gurgaon witnessed
mushrooming of innumerable multi-national companies which gave rise to numerous job opportunities that led to an exponential growth in population and the failure of civic agencies to cope with the situation.

The dropping of groundwater table has therefore been attributed to rise in number of companies, shopping malls and flats in Gurgaon. A high court order in the year 2012 had strictly prohibited  setting up borewells for groundwater extraction for construction and residential usage. But still many people use illegal borewell to use groundwater. According to the honorable high court's order only civic authorities can extract borewells water.

The city is under the grip of inflation right now. The prices for properties are quiet hefty. There is a dire need to work upon the things, so that properties are within the reach of every section of society.

Makaan.com, the property India website, lists all types of flats in Gurgaon and other cities across the country. Get to know the prices tends for Gurgaon flats in major localities, on quarterly basis.

BDA property Checklist

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There is a confusion in the minds of people, who are first time property buyers, regarding the paperwork and document that one should check while investing in Bangalore real estate. Before buying any property one check check that all the documents are clear and they clearly state details of ownership and transactions:

It is important for the buyers to ensure that Bangalore Development Authority (BDA) process for developing residential lands was done by converting agricultural land into residential properties in Bangalore.

Allotment Letter: This letter is issued by the BDA to the original property owner. If the current real estate Bangalore property holder is a second or third property holder then one must check all the transfer deeds which will clearly state ownership rights in the legal papers.

Possession Letter: BDA issues possession letter in favor of the current owner.

Sale Deed: Sale Deed is a document issued by BDA that gives specific details on the execution of sale and registration of property in favor of the allottee.

Absolute Sale Deed: This document is issued after ten years from the date of the original allotment. After a period of 10 years BDA registers the property in the name of the owner.

Building Sanction Plan: This is mostly issued by the BDA, where construction of the home is set to start.

Khata Document: BDA allotted properties in Bangalore will get a Khata document which will bear all approvals.

Tax Paid receipts: Its is essential for any prospective buyer of real estate Bangalore to check all the tax receipts. It should be checked that the current property owner has all Tax Paid receipts since the day of allotment of real estate Bangalore property. The current  property holder of real estate in Bangalore is expected to pay tax regularly every year and all the tax receipts should be handed over as proof of ownership to the new buyer.

To more more information check various properties websites. Real estate websites will give out all the relevant information to prospective or first time buyers.

Rajesh Khanna's Bungalow Sold

Mumbai Real Estate

Mumbai real estate is abuzz with the news of sale of 'Aashirwad' the bungalow which was owned by the first superstar of Bollywood - Rajesh Khanna. The real estate Mumbai property is located at
Carter Road, one of the poshest area in the city which is dotted with several high profile property sites. It is believed that this Mumbai real estate property is being bought by a prominent city industrialist Mr. Shashi Kiran Shetty.

The realestate Mumbai property which is a big tourist attraction for thousands of fans of Rajesh Khanna, is believed to be fetching somewhere between Rs 90 to 95 crore. The landmark sea-facing bungalow measures around 603sq m. Sole beneficiaries from the sale of this property site will be Rajesh Khanna's two daughters, Twinkle and Rinkie Khanna. Insiders indicate that the hushed up deal is will be concluded after the mandatory 14-day notice regarding ownership claim by a outside party is over. Initially, the daughters of the late Bollywood superstar wanted to make a museum in the memory of their mega-star-father, but now it looks as if the plan has been scrapped.

According to market sources the real estate Mumbai property is being bought at a much lesser price that was expected due to small plot size. The recent uncannily reports that ' Aashirwad' is haunted might have also reduced the market value of this Mumbai real estate property. It is believed that Mr. Shetty has been vouching to buy this bungalow with a budget of around Rs 100 crore for quiet some time.

The industrialist eying Aashirwad bungalow already owns several flats in Mumbai. Mr. Shetty had also booked a luxury apartment in the ongoing construction project at Palais Royale skyscraper in Worli for about Rs 40 crore, but after the construction of the project was halted due to a legal battle, Shetty started searching for a bungalow in the vicinity.

DLF sells land to My Home Group to reduce debt

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DLF, India's largest real estate developer, is looking to sell a 30-acre land parcel in Raidurg area of Hyderabad's to a popular local real estate developer- My Home Group for Rs 550 crore. The transaction will most likely happen in the month of August and the company will utilize the money to reduce its debt.

The Delhi-based real estate developer had bought the land parcel in the year 2008 from the Andhra Pradesh Industrial Infrastructure Corporation (APIIC). Around 40% of the 350-acre IT Park was allocated for activities that included hotels, housing, commercial office buildings and shopping malls. Several other developers like My Home Industries, Salarpuria Sattva, Puravankara Projects and ITC had also invested in the Game Park project - an ambitious project to boost the real estate of Hyderabad. Properties in Hyderabad have seen a slump and therefore the state government is working hard to promote Hyderabad real estate.

Though DLF was allotted a land in Game park but the real estate developer was unable to develop it as the land fell under Archaeological Survey of India's (ASI) heritage zone. As a result, the APIIC allocated DLF another area within the Game Park which was located near the heritage zone.

DLF, a major player in real estate, has reduced its debt from over Rs 23,000 crore to Rs 18,500 crore in the last few years ago. This year the company hopes to bring the company's debt to Rs 17,500 crore by the end of the current fiscal year.

In an attempt to reduce its debt DLF has sold a number of its non-core assets. Last year the company made non-core sales of Rs 5,930 crore by selling Aman Resorts, wind energy business, insurance business and getting a refund from the government for the Dwarka project. DLF owns about 25 million sq ft of leased office property in Hyderabad, Gurgaon, Chandigarh, Kolkata and Chennai. The properties of DLF generate a rental of about Rs 1,950 crore every year that helps the company to reduce its Rs 12,000 crore debt.

At Makaan.com one can search for DLF properties and Hyderabad properties for buying, selling and renting properties across the India real estate sector. 

Chennai Corporation to review residential buildings undertaking commercial activities

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In a move to augment the property tax collection, the Chennai Corporation is planning to conduct a drive to discern all commercial buildings in Chennai which are located in residential neighborhoods of Chennai, Tamil Nadu. The corporation officials will soon initiate a drive which will allow them to get comprehensive details of each building located on a particular street with structure classification, based on its use for commercial, residential or other purposes. Over the last few years several commercial activities have mushroomed in residential property at Chennai, which has led to tax evasion.

The drive will help the civic body to map the rise of commercial structures in residential areas of Chennai. In several residential places in Chennai like T. Nagar, Anna Nagar, Egmore, Purasawalkam, Mylapore, etc. commercial activities are been undertaken; but as they are based out of residential complexes they pay a much lower property tax to the Chennai Corporation. This initiative is expected to boost the property tax revenue, in addition to this the move will also help in streamlining the property tax assessment. According to an estimation, at present there are about 12 lakh property tax assesses in the city of which about four lakh buildings do not come under correct property tax net.

Alongwith this drive the Chennai Corporation is also planning to evaluate the trade license framework for properties in Chennai which have been seen a boom in commercial activity over a period of time. It is believed that identifying illegal commercial structures is expected to take about three months as there is a shortage of employees in the Corporation.

Makaan.com is a new-age Indian real estate website that was developed to bridge the gap between buyers and sellers of property in India. At Makaan.com you can search for the widest range of property options in residential and commercial property categories.