Tata Realty targets Rs 30,000 crore projects by 2015

CHENNAI: Tata Realty and Infrastructure Ltd (TRIL) is targeting an order book of Rs 30,000 crore by 2015, building logistics parks, roads, airports, rapid transport systems, a top company official said Thurs day. A wholly owned subsidiary of Tata Sons, the Rs 900-crore equity-based TRIL is currently executing around Rs 8,000 crore worth of realty projects. "We will soon start developmental work for logistics parks in Chennai, Kolkata and Delhi out of the 14 locations identified. Each of the three parks will measure around 25 acres and the total project outlay will be around Rs 200 crore," managing director Sanjay G Ubale told reporteRs in Chennai. He said TRIL would also set up a logistics park at Guwahati and soon announce the foreign partner who would bring in the technology. The company has budgeted Rs 1,400 crore for building 14 logistics parks with some cities having multiple parks. TRIL is now executing the Pune-Sholapur road project with an outlay of Rs 1,500 crore. It has floated a subsidiary to execute road projects investing $122.5 million and private equity firm Actis putting in $77.5 million. "Our target is to do $2 billion worth of road projects in four yeaRs time frame," said Ubale. Planning to bid for two greenfield airport projects at Nagpur and Pune, he said the company will be building a private airport at steel city Jamshedpur. In the area of urban transportation, TRIL is in the process finalising the joint venture partner for mono rail business and would start bidding for projects in Bangalore, Delhi, Mumbai and Ahmedabad, Ubale said. Seeing the rush from corporates to set up units in SEZs before Dec 2011, TRIL has tweaked its strategy to lease out space to multiple companies at its upcoming Ramanujam IT SEZ here, instead of leasing out to a single player. "It is a derisking strategy. As and when a company wants to expand we would provide the needed space. The probability of some tenants expanding operations is higher when their number is higher than hoping on couple of big tenants to expand," he said. According to him, the Rs 3500-crore, 4.5 million square feet project will be completed in three phases. The fiRs t phase of 700,000 sq ft will be ready by this December and by next March another facility of similar size will be completed. The project consists of IT SEZ, high end residential apartments and serviced apartments, convention centre and retail complex. Ubale said the company will soon announce another residential apartment project in Chennai involving an outlay of Rs 600 crore. The company is also building three SEZs for group company Tata Consultancy Services in Gujarat, Maharashtra and Kolkata.

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NRI realty investments drop by over 50%

The NRI season is now at its fag end. Despite undertaking tours to the US, the UK and Middle East and doling out freebies and discounts, realtors have been unable to catch the attention of this cash-rich community.

The result: NRI investments in India-based properties dropped by over 50% this season, with the four metro cities and “NRI-heavy” mirco markets in states like Gujarat and Kerala being among the worst hit.

“Compared to last year, the drop in NRI interest in India-based properties has been almost 50% in all sectors. The metros showed a sharp drop in demand, largely owing to the steep prices”, says Sanjay Dutt, CEO - business, Jones Lang LaSalle Meghraj (JLLM), a global real-estate consultancy firm. “Very few luxury homes have been sold as compared to last year”, he adds.

At a time when the domestic demand in micro-markets in Tier-I, II and III cities began to slump in the third quarter of this financial year, the developers were hopeful that the demand from the NRIs will pep up the sentiments in the realty markets.

Source: EconomicTimes.IndiaTimes.com

Find bargain real estate online

The national foreclosure rate is at its highest point in years and is expected to climb. But, despite the downturn in the housing market, real estate sites are going strong.Maybe you're looking to pick up a bargain. Or maybe you want to know how market changes are affecting your home's value. Real estate sites can help.

Finding a house
Your first stop should be Realtor.com. This is the National Association of Realtors' official site. Realtor.com provides access to the MLS (Multiple Listing Service) for free. You'll see houses listed for sale in your area.

But, if you want to find foreclosures, you'll need to dig deeper. Your city or county's website probably lists foreclosures. You'll find details on houses involved in foreclosure proceedings.
If your city or county's website doesn't list foreclosures, there are alternatives. RealtyTrac.com, Foreclosures.com and BargainNetwork.com list foreclosures and other bargains.

The sites offer seven-day free trials. After that, RealtyTrac and Foreclosures.com charge about $50 monthly. BargainNetwork charges about $10 per week.

You should also visit HomeSales.gov. It lists homes that the U.S. government is selling via auction. Many of these are HUD homes.

Determining a house's value

If you find a house you like, you'll need to determine its value. Yahoo Real Estate (realestate.yahoo.com) helps you calculate the value of a house.

Simply enter an address to see a house's value range. You'll see a list of recently sold houses in the neighborhood. You'll also see the date the houses sold, along with the houses' sizes.

Zillow.com's Zestimate is the site's calculation of the value of a house. Like Yahoo's site, it lists comparable recently sold houses. You can also compare the houses' price per square foot.
You'll see the price for which a house last sold. But pay close attention to Zillow's charts. These show how a house's value has changed over the past one to 10 years.

Staying current

Even if you're not buying or selling a home, it's important to stay up-to-date. Fortunately, real estate sites provide innovative ways to do that.

At Trulia.com, you can search for houses in your area and save the searches or sign up for e-mail alerts. You'll be notified when new listings match your criteria. Or, you can find out when similar houses are sold.

The alerts are designed to help buyers find new listings as soon as possible, but homeowners can use the alerts to keep current on the market.

Zillow provides a wealth of information on the housing market. For example, it offers a heat map. The map shows you values in square feet for particular neighborhoods. At a glance, you can see how your neighborhood stacks up.

Zillow also offers a comprehensive real estate guide. You can find answers to questions about mortgages, refinancing and more. There's also information on remodeling and working with contractors.

Of course, everything has a price. So check out Zillow's "Make me move" feature. With it you list your home on the site. Then enter the price that you're willing to accept for your house. Someone might make you an offer! You're not obligated to accept an offer.

When buying or selling a house, websites are a good starting point. However, no website can replace the expertise a real estate agent provides. A real estate agent can help you navigate the buying and selling process.

Source:\\usatoday

Real Estate developers catering to specific needs of Chandigarh buyers

Real estate developers are now catering to the specific needs of upmarket buyers, including non-residents, providing accommodation that spells class, elegance and luxury. he search for that ideal accommodation that spells fine living brings Jalandhar-based industrialists Simardeep and Gundeep Singh to Mohali, where there are superb options for possessing a 'dream home'.

Designed to Andalusian, Mediterranean and Spanish architecture specifications, the villas here are a perfect blend of style and form. The interiors are the epitome of elegance and quality lifestyle.

"Several construction companies have been providing magnificent real estate options including mansions and condos. Earlier, people went abroad to adopt a posh lifestyle. Now, with everything is available in India, people will stop moving abroad," said Gundeep.

Recently, Real estate major, Ansal properties and Infrastructure announced the launch of its high-end vertical township - Orchard County.

Deepak Sachdeva, COO, Punjab, Ansal Api, said: "The number of NRIs from Punjab is very high. These people when they travel abroad, they come across such international concepts that are an inspiration to have similar facilities and set-ups back home."

In addition to town houses and villas, the Mohali Hills project launched in 2007, includes convenient shopping malls, landscaped gardens and recreational centers.

on the 'Street of Dreams' project of Emaar MGF, a joint venture between Emaar Properties of Dubai and MGF Development Limited of India, the Mohali Hills is an ambitious integrated township constructed over an area of about 3000 acres.

Carrying a price tag of over 25,000 US dollars, these villas are a step towards unveiling a truly international lifestyle for the residents of Punjab and adjoining areas.

The project also includes apartments in two, three and four bedroom sizes and penthouses.
"If you look at how India has come up since 1991 to what it is today and look at what it might be in the next 16 years, India is incredible. We want to be beyond the top of the wave and offer appropriate lifestyle propositions to Indians," said William Rattazzi, CEO, Emaar-MGF.

It is not just Mohali which is on the list, as real estate developers have plans to move towards Ludhiana, Amritsar and Jalandhar.

So, the NRIs belonging to Doaba region can plan for a villa or a penthouse in their hometown.

Source:// thecheers.org