Real Estate

  If you’re looking at investing in property or buying a second home, then Goa may still be your best option. Nature is doing for Goa, what IT did for Bangalore and Hyderabad - send land prices soaring!  This tiny coastal state, known to be the best remedy for one to distress, detox and recoup, has in recent years attracted a lot of investment for holiday homes by non-resident Goans (NRGs), NRIs and domestic buyers, mainly from north India. While the coastal belt with a good ’sea view’ is always in demand; people are also scouting for inner lands overlooking hills, rivers or valleys with proximity to the city.    Also, while land prices in the rest of the country are expected to fall due to a hike in home loan rates, it’s the opposite in Goa.                                                                  Courtesy: - ET dtd: - 5^th Sep 2008 

  The Rs.1,000-crore textiles-to-real estate major, Bombay Dyeing, will develop eight lakh sq ft of property on its surplus land in Mumbai. The company will construct a high-rise building for commercial and residential use. “We will commence construction of a high-rise tower in two months. The entire project will be sold off in the next 24 months,” Chairman Nusli Wadia told shareholders at the company’s AGM.  Although it would be difficult to fix a value for the upcoming project, real estate market sources said the company could earn a few thousand crores. However, the value will depend on the state of the real estate market, which has shown signs of weakness of late.                                                               Courtesy: - ET dtd: - 5^th Sep 2008

  Agra is the city synonymous with romance, architectural grandeur and the Taj Mahal. The city now takes a sharp turn towards the new age lifestyle with Sushant Taj City Agra, spreading over 500* plus acres. Residents shall be enjoying world class amenities and facilities. The township shall also have some of the finest schools, healthcare and shopping & entertainment facilities, never before seen in Agra. The affordable price range at which these houses are offered further makes it a proposition hard to resist. BASERA 2B/R                      128 Sq.Mtr. 153 Sq. Yd.    Booking Amount Rs.93,700/-SAVERA (Duplex) 2B/R      128 Sq.Mtr. 153 Sq. Yd.    Booking Amount Rs.1,11,950/-KAMNA (Duplex) 3B/R      210 Sq.Mtr.  251Sq. Yd.    Booking Amount Rs.1,75,800/-RACHNA 2B/R                    225 Sq.Mtr.  269Sq. Yd.    Booking Amount Rs.1,43,350/-RACHNA (Duplex) 3B/R    225 Sq.Mtr.  269Sq. Yd.    Booking Amount Rs.1,85,200/-ABHILASA 3B/R                 242 Sq.Mtr.  290 Sq. Yd.   Booking Amount Rs.1,58,400/-ABHILASA (Duplex) 4B/R 242 Sq.Mtr.  290 Sq. Yd.   Booking Amount Rs.2,29,750/- For the further information and booking you can login http://www.zameen-zaidad.com                                                                        Courtesy:-Times of India dt.30.08.2008

    The notified pioneer Engineering SEZ offers ultra-modern infrastructure for Engineering sector Export Oriented Units. It is located on NH-1, near Murthal (Sonepat) covering an area of approx 250 acres. Completing the company’s portfolio are a number of IT/ Bio Tech, SEZ’s and IT parks with area ranging from approx. 10 acres to 75 acres. These projects are being developed by the company in prime locations like Greater Noida, Gurgaon, Noida, Lucknow and Khapoli (Mumbai). These projects are being designed by renowned consultants and will have excellent facilities, infrastructure for the units. Most of them are being designed with “walk-to-work” concept.                                                                  Courtesy: - Times of India dt.30.08.2008

   2 BR, 3 BR available in  Essel Tower, Gurgaon 100 % Power Backup, Club Ready / Prime Location, Swimming Pool, Lift, Security, Power Backup, Feng Sui, Park, Gym, Water Supply, Water Storage System, Near to Market, On Main MG Road / Intercom Facility.      Area:                                Essel Tower, Gurgaon  Transportation:              Essel Tower, GurgaonType of ad:                      Individual offerType of property:         Apartments# of rooms:                     3 # of bedrooms:              2            # of baths:                      2Basic Rate:                       Amenities:                       Covered Parking, woodwork  

For the further information login http://http://www.zameen-zaidad.com/

With its commercial industrial and institutional complexes, Ansal API has also been instrumental in accelerating the economic growth of its cities and states.

The commercial projects of the company are retail landmarks in the cities that they are located in. The foremost among these is the Palam Corporate Plaza, coming up at Palam Vihar in Gurgaon. This is a commercial zone that boasts of well-planned offices and lifestyle outlets for business to take-off at supersonic speeds Palam Corporate Plaza is strategically located in one of the most promising business and residential hub of NCR.

The Sushant Corporate Plaza on the Gurgaon-Sohna Road boasts of well-planned offices and lifestyle outlets of business in the fast lane. Other such initiatives across the country include the Shushant Plaza, Jaipur, Roman Court, Kundli and Galaxy Court Panipat.

On the industrial front, Pioneer Industrial Park is making waves. It is Haryana’s first approved Industrial Township by any private developer. Located at Bilaspur Chowk, Pathredi, Gurgaon, Pioneer Industrial Park is spread around 100 acres, offering great opportunities with its Freehold Plots for Entrepreneurs and industries. These units come with special tax benefits by the Haryana Government for mega projects and SSI. The complex like all other Ansal API projects offers world class infrastructure and a productive environment.

Various plot sizes available price ranging from Rs.5,400 to Rs.10,000 per sq.ft.

                                                                          Courtesy: - Times of India dt.30.08.08

                                                                                  Courtesy:- ET dtd:- 22nd August 2008 

City-based real estate developer Peninsula Land today said it would shortly spread its wings beyond Mumbai and develop projects in Pune, Nagpur, Nashik, Goa and Hyderabad. “We now have land in the cities of Pune, Goa, Nashik, Nagpur and Hyderabad wherein development work is expected to commence shortly and the projects will be completed over a span of 3 to 5 years,” Peninsula Land Group Managing Director Mahesh Gupta said at the company’s Annual General Meeting.                                                                                  Courtesy:- ET dtd:- 22nd August 2008

   All the famous and big Indian developers have hit the brakes on fresh land acquisitions as a slide in the stock market, rise in interest rates and aggressive demands of the private equity investors have limited funding options. After five years of boom, real estate firms in India are grappling with tepid sales and cash crunches as inflated property prices and interest rates at near-decade highs scare away buyers.  The rates are real estate in India going to high. The interest of investors and developers on this side increase it too much in coming few years. Today the shares of real estate companies are go high the cause of it. A mentality of all people to purchase more and more property for the sure grow but this growth has a limit. Buy this high rate a common man to away from his small house. 

Aiming to clamp down on benami transactions, the government is set to give more teeth to the Benami Transactions (Prohibition) Act, 1988. The proposed amendments to the Act, which are being given finishing touches, seek to redefine a benami property as one belonging to a non-existent person without known sources of income.

A confiscating authority will be set up as per the provisions of the Act. The authority will be empowered to deem (or, hold) a property benami and confiscate it if the owner does not have a proven source of earning.

As per the present Act, a benami transaction means a deal in which a property is transferred to a person for a consideration paid or provided by another person. In other words, the property is not transferred in the name of the person who pays the purchase price.

A benami property could be of any kind, movable or immovable, tangible or intangible, and includes any right or interest in such property. The deeming provision will make it easier for the confiscating authority to prove a benami transaction.

Importantly, powers of the confiscating authority as well as the rules would now be a part of the Act itself, sources told ET. This is an important variation from the Act, which does not lay down detailed rules. Instead, the Act gives power to the government to make rules that would provide for a competent authority to acquire such properties, and the manner in which they have to be acquired. The Central Board of Direct Taxes, the implementing authority for the Act, was to frame the rules.

This was largely the reason why the 20-year-old Benami Act is still to come into effect, as rules to operationally it could not be framed. It was felt that the powers, which were to be derived from rules, should flow from the Act itself to make it more effective, they said.

The proposed amendments to the Act will be vetted by the law ministry before they go to the Cabinet for approval. If the suggested changes are approved, they would go a long way in curbing such transactions that are rampant in real estate.

CRUNCH TIME

Govt. set to strengthen Benami Transactions (Prohibition) Act

Changes to redefine a benami property as one belonging to a non-existent person without known sources of income

A confiscating authority will be set up as per the provisions of the Benami Act

Authority will be empowered to confiscate a benami property if the owner does not have a proven source of earning

                                                                          Courtesy:- ET dtd:- 25th August 2008