Indian Real Estate Market

It’s been said that the future lies in building and living in inclusive cities, integrated townships and self-sustaining environments. And this is what would lead to a lot of new trends, technologies, regulations for the realty sector in the coming year. Hope remains afloat in the form that after a spate of interest hikes in home loan rates by Reserve Bank of India (RBI) last year, 2012 would not witness any further drastic rise. “It’s important for the economy to break free of the vicious impact of inflationary pressures and countermeasures taken by the RBI. Home loan rates need to ease out, and the home buyers should feel assured of a stable equated monthly installments (EMI) outflow,” says Manoj John, Vice-President, Corporate Planning and Strategy, RNA Corp. Similarly, Dhaval Ajmera, Director, Ajmera Realty and Infra India, points out that it’s fortunate that this time the RBI has not increased the repo rate. “We expect the home loan rate should come down at an affordable limit,”

Real Estate Industry in India had a mixed experience in the year 2011. It had been both sweet and sour for developers and builders — sweet, in the sense that a number of affordable and luxurious housing projects were launched. On one side, it faced low during land acquisition in Gr.Noida,  then launch of skyscrapers in Delhi NCR especially in the millennium city Gurgaon was really a high point.  Land-related issues, along with the developers’ and buyers’ rights, and initiatives for amendments to the land acquisition laws and real estate regulation bill have also been taken up. The flip side was the uncertainty over forthcoming projects due to land acquisition rows, especially in Noida and Greater Noida, and that the initiative for a real estate regulator is yet to bear fruit. The apprehension of a worldwide recession has also cast a shadow on the realty market. However, Gurgaon witnessed quite a strong appreciation during the year. Prices in Dwarka Expressway almost doubled from Rs

Builders will have to register themselves before launching housing projects, stick to the approved plans and refund money to homebuyers in case they default, after the government brings in a new law aimed at bringing in more accountability and transparency in land and home transactions. The Real Estate (Regulation and Development) Bill, 2011, which is expected to be tabled in Parliament during the upcoming winter session, will also pave the way for the setting up of the Real Estate Regulatory Authority, an industry watchdog that will keep a lease on land sharks and fly-by-night operators. Union minister for housing and urban poverty alleviation, Kumari Selja, on Friday unveiled a new draft bill for public consultation. The draft has also recommended that builders set up a separate escrow account to compulsorily deposit 70% of the funds received from buyers and to ensure that these funds are used for that real estate project only. An earlier draft had proposed that the developers wo

     The proposed Real Estate Regulation Bill will bring more transparency into real estate industry and from a buyer's or investor's point of view, it provides for sufficient safeguards. Disclosure of detailed information about projects will create awareness and curtail pre-launch hoopla.      The draft proposes a two-tier grievance red-ressal system, a state regulator and an appellate tribunal at the Centre. At present, the only option open to buyers is to move the civil courts, a time consuming process.      However, builders say the bill does not provide any protection to them in case buyers default or create unnecessary litigations in a court of law. So, the central-level regulatory authority should have an arbitrator's power and a stakeholder should first approach this authority before going for any litigation against anyone, real estate developers and builders say.      The bill is set to be brought before Parliament in the forthcoming winter session. The draft

All About VSR 114 AVENUE, Commercial Project in Sector 114 Gurgaon, Contact - 9811845382, Alok Upadhayay VSR Infratech, a part of the SLV Group which is a multi-dimensional portfolio of companies, which operate in various business domains across the India has launched the first commercial project on Dwarka Expressway with the name of   114 Avenue. The foundation of the Group was laid by Late Shri Sham Swara in the year of 1986 who was a visionary entrepreneur of his time. The rein of the Group was taken over by Mr. Vishal Swara in the year 1989. Under his dynamic leadership qualities the Group achieved the pinnacle of the success. The core businesses of the Group are Security Solutions, Mall/Integrated Facilities Management, Real Estate Development and Service Apartments. Projects of VSR INFRATECH Taksila heights, Gurgaon         Industrial project of 130 Acres at Manesar   5 Lac sq.ft of Mixed use commercial development at sector 114, Gurgaon   Cyber Park on