Published by Newsroom February 6th, 2010
in City Scape and Newsbytes.
Property-seekers might think
Delhi-NCR has the maximum appreciation potential within a year's time. However, according to the latest property index, it's the
Mumbai real estate market which beat all Indian cities in terms of price escalation over a period of 12 months.
Mumbai has bucked the economic slowdown by witnessing a whopping 24.7 per cent jump in prices between January and December 2009. During the same period, realty rates in
Delhi-NCR rose by 8.8 per cent.
But other emerging residential destinations such as
Hyderabad and
Bangalore have witnessed a fall of 7.7 and 2.2 per cent, respectively, the index added. However,
Pune market gained significantly by 9.9 per cent. The survey revealed that all these five cities —
Delhi-NCR,
Mumbai,
Pune,
Hyderabad and
Bangalore witnessed a drop in property prices in the first six months January to June due to slump in the market. But the subsequent gain came following the launch of various affordable units. These units have now achieved premium value across India.
The study said property prices increased by another 12.8 per cent nation-wide during the surveyed period of 12 months. The primary reason for the price rise in
Mumbai’s market could be attributed to expansion of the peripheral areas.
Published by Newsroom February 6th, 2010
in City Scape and Newsbytes.
Bandra, especially Bandra West, is a popular residential destination since it holds high lifestyle value, despite the fact that it faces a significant degree of traffic congestion. The upmarket location of Khar is, in many ways similar to Bandra in terms of lifestyle - a Khar address is a sought-after social calling card.
Juhu is a sea-front area with its own distinct ambience and charm. Moreover, it is exceedingly well supplied in terms of places to hang out and be seen at, further aided by the availability of high-scale entertainment facilities. Also, Juhu is close to the airport, and it has good health and educational establishments. Historically, its occupier profile has been distinctly up-market - this gives a Juhu address definite snob value.
Andheri scores high in connectivity and people who work in the many offices in this locality prefer to live in Andheri despite the serious traffic issues this area faces. Santa Cruz is a relatively quiet suburb where demand is always assured because of its proximity to the airport and the Bandra Kurla Complex. Vile Parle, which lies between Juhu and Andheri, benefits from both these areas in terms of lifestyle quotient.
Published by Newsroom February 5th, 2010
in City Scape and Newsbytes.
Bangalore: Real estate developer Prestige Group has lined up launches for the next two quarters, for which the company plans to invest over Rs 7,000 crore spread over three-four years.
Launching the high-end luxury residential project, Prestige White Meadows, at Whitefield,
Bangalore, Mr Irfan Razack, Chairman and Managing Director, Prestige Group, said that the company has several projects in the residential, commercial and retail segments to be launched in the next two quarters. The company plans to fund these projects through a combination of internal accruals, bank debt and the IPO proceeds.
On when the company plans to go public, Mr Razack said that they were waiting for regulatory approvals. "The IPO gives us more liquidity to expand." The company plans an investment of over Rs 2,000 crore across eight projects in the residential segment, out of which four are high-end luxury ones. A few would be in the affordable segment — Rs 12 lakh to Rs 25 lakh price range, he added.
Mumbai: Housing Development & Infrastructure Ltd (HDIL) launches Residency Park in Virar West, a mega residential project offering Premium lifestyles at Affordable prices. As a part of its vision for inclusive growth in the
Mumbai Metropolitan Region HDIL has developed many affordable housing projects & in continuation of this tradition, the newest offering "Residency Park", will help deliver thousands of dreams homes & lifestyles to residents of Virar & surrounding areas at affordable prices.
Located just 2 km from the Virar railway station, with the proposed government flyover easing connectivity from East to West and the National Highway, this project will have easy access to various modes of transportation & everyday necessities like schools, colleges, hospitals, shopping complexes and theaters.
This mega residential project will have over 3000 apartments; the first phase of which will house over 1500 apartments with excellent infrastructure and amenities. Its 19 wings of 7 storey each offer well planned 1, 2 and 3 BHK apartments. The complex will consists of landscaped garden with children's play area and state-of-art clubhouse with swimming pool. Besides being earth quake resistant, the complex will offer intercom system & provision for fire fighting to ensure safety & security. Generator backup will be provided for essential services in the common areas including elevators.
Published by Newsroom February 5th, 2010
in City Scape and Newsbytes.
Mumbai: Ackruti City Ltd has once again reiterated their position as India's leading real estate developers at the recently announced CNBC AWAAZ Crisil Credai Real Estate Awards 2009 at Dubai. Continuing their winning spree, the real estate giant bagged an award for the Best Overall Systems - Ackruti City Ltd - Ackruti Orchid Park.
Another feather in the company's cap came with their new project Ackruti Gold coming up at Bandra Kurla complex received the prestigious precertification under the LEED India for Core & Shell rating system. LEED India certification provides independent, third-party verification that a building project meets the highest performance standards. The LEED India plaque awarded by the Indian Green Building Council is recognition of the project achievement.
Says, Mr. Vyomesh Shah - Managing Director Ackruti City Ltd. "These honor's bear testimony to our constant effort and commitment to technology, business innovation, and globally benchmarked quality of services It is indeed a privilege to receive such recognition for our projects. At Ackruti we believe that with these awards come greater responsibilities and we will definitely endeavor to live up to them."
