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Slowdown Force Developers To Look For Affordable Housing Between 16 lakh to Rs 30 lakh in NCR To beat slowdown in the economy, which has affected the demand for premium segment houses, developers have shifted focus to affordable apartments in the range of Rs 16 lakh to Rs 30 lakh in the National Capital Region of Delhi. This, combined with fall in interest rates, has lowered the cost of ownership of a house considerably. The current trend has given a good opportunity to middle-income endusers to buy a house. Developers have also launched a number of projects in the affordable price range in areas like Indirapuram, Vasundhara, Vaishali, Crossings Republik on National Highway 24, Raj Nagar Extension on NH-58 in Ghaziabad, Nahar Paar area in Faridabad, Greater Noida and Gurgaon. In Raj Nagar Extension on NH-58, in particular, condominiums have been launched where two-bedrooms apartment of 1,000 sq ft are being offered in the price range of Rs 16 to Rs 20 lakh. At the current home loan rat

When it comes to selling residential projects in a downturn, the promise of `timely completion of project' has become as good a bait, as any other -- affordability, complementary club membership or swimming pools.With the slowdown in sales and cash crunch delaying real estate projects, some builders have started pitching `on time completion' as their Unique Selling Proposition -- a commitment that until recently was taken for granted. According to Mr Sanjay Verma, Executive Managing Director (South Asia), Cushman & Wakefield, this new positioning is a response to restore consumer confidence. "The biggest fear of a real estate buyer today is protection of his capital invested into a project, and its completion," he says.A case in point is the recent marketing campaign unleashed by Crossings Republik which declares that despite the "tough times" and "slump in global economy", its project has been running on schedule. Another ad campaign, by Purva

Hindon To Bloom Soon:A two Km Stretch Along River Being Covered With 15 Varieties Of Flowers The Dull and drab land along the Hindon will soon be a blooming paradise. It is slated to become a new tourist hub in the area. So if you haven't visited the ghat of the Hindon for a very long time, do so now. The two-kilometre stretch along the Hindon is being covered with 15 varieties of flowers. Once in full bloom, 5,000 such flowers will simply make the place beautiful. Earlier, the land along the river was lying waste. The decision was taken after the Municipal Corporation of Ghaziabad (MCG) took note of the residents' request to develop the place as a tourist spot.Beginning March, work will start on plantation. Saplings of hibiscus, bougainvillea, cypress vine, dahlia, floss flower, globe amaranth, gourds, marigolds, morning glory petunias, , rose moss and sunflower will be planted from time to time. "The valley has been planned in such a manner that it will have flowers bloo

Saviour joins the league of big seven with 200 crores in Crossings Republik Saviour Builder's new project GREENISLE spread over an area of six acres is the new age city .housing. Real estate developer Saviour Builders plans to invest up to Rs200 crore to construct this splendid housing. "We will invest about Rs 200 crores in developing this new age global city in NCR and this will be built keeping in mind the global standards. The company would fund the project through a mix of debt and equity. The source of funds for the project are banks and other financial institutions", said the Director Mr. Sanjay Rastogi. Saviour Builder’s new project GREENISLE spread over an area of six acres is the new age city .housing. Real estate developer Saviour Builders plans to invest up to Rs200 crore to construct this splendid housing. “We will invest about Rs 200 crores in developing this new age global city in NCR and this will be built keeping in mind the global standards. The company

Major Realty Cos To Announce New Discount Schemes In Markets Faced With Slowdown With DLF Group, one of the largest property developers in India, slashing prices in micro markets such as Bangalore and Chennai, it seems that other developers too will follow soon. SundayET has learnt that many A and B grade developers across the country are planning to announce new discount schemes in markets faced with slowdown. Besides, many are also planning to offer interest free instalments to consumers which will help boost falling sales. This scheme will be different from earlier construction-linked plans. Developers will use it only for new and up-coming projects. How it works is that on a Rs 40 lakh home the developer will ask the consumer to pay Rs 1.5 lakh bi-monthly for 30 months and rest at the time of possession. Meanwhile, in many projects, the developers are already offering a 15-20% discount on down payment both in the residential and commercial sector. According to a developer, the new

Realty Sector Holds Potential For Investors Good bargains, lower interest rates, and tax benefits make property a good investment avenue Unlike earlier, investors in real estate today are in a dilemma when it comes to the question of where to put their funds. But even in the current scenario, there are opportunities for shrewd investors in real estate. Though the options are limited, the potential continues to remain high. A significant feature is that investors can leverage investments in real estate during exigencies as short-term financing is possible with many options. While investors in real estate can raise mortgage finance and loans against future rental income to meet any contingencies, those pursuing higher education abroad can liquidate and repatriate up to two residential units. With the annual repatriation limit up to $1 million per calendar year, NRIs and persons of Indian origin (PIO) can remit funds out of balances held in NRO accounts through authorised foreign exchang