Ahmedabad property Prices to Rise in 2007

Property prices in Ahmedabad are all set to rise in 2007 with an inflow of more than $3 Billion into Ahmedabad Real Estate.

Ahmedabad has witnessed some major infrastructure spending from the state government. The Ahmedbad Urban Development Authority has spent Rs 2,000 crores on city development. Another Rs 3,200 crores will be spent in developing the city, funded by National Urban Renewal Mission.

Land Shark, DLF which looted small investors is building a supermall in GandhiNagar near Ahmedabad. DLF is also looking for lands on the banks of river Sabarmati. 2000 more hotel rooms will eb added in the city in 2007.

The Vibrant Gujarat conference has also attracted some big IT / ITeS investments into Ahmedabad. Our survey shows that land prices on CG Road have shot up from Rs 35,000 / square yeard to Rs 50,000 per square yard in a year. Also non-resident Gujarathis are building their second home in Ahmedabad.

Tags: Ahmedabad Real Estate, Ahmedabad Properties

Shapoorji - Shukhobristi housing and IT SEZ in Bengal

Close on the heels when Tata Motors Ltd is involved in a Land Grabbing scam for their SEZ in Singur, another Tata group associate Shapoorji has announced the launch of Rs 2,500 crores housing project in West bengal near Kolkatta.
Shapoorji is building a mass housing project [Shukhobristi Housing] on a 150 acre land at Action Area III, New Town. The mass housing project will have 20,000 dwelling units. The cost of development of this project is Rs 1,500 crores and is expected to be completed by 2011.

Shapoorji Pallonji is no philanthropist, and is also grabbing land for a IT / ITeS SEZ project near Rajarhat. The development cost of this SEZ is Rs 1,000 crores. Looks like the communist leaders have sold West Bengal to powerful Parsi community in Mumbai.

Tags: Kolkatta Realty, Kolkatta Real Estate, West Bengal SEZ, SEZ India

SEZs in West Bengal - A Mess

The Special Economy Zone Policy in the communist ruled state of West Bengal is a total mess. Communist Leader and Hypocrite, Sitaram Yechury called the SEZ policy as a land bank scam and was against the eviction of farmers and other small land owners. However, his own partymen have forcefully evicted farmers in the Singur area for Tata Motors SEZ without adequate compensation and no rehabilitation plans for the displaced.

The story doesn't end there, a woman of Singur area was Rap*d and Murd*red a week ago. With leader of opposition Mamta Banerjee on an indefinite hunger strike, the situation is all set to worsen as her health detiorates.

Communist Party of India members are the BIGGEST Hypocrites in India with some speaking against the SEZ policy while other party members are misusing their power by forcibly snatching fertile green lands from poor farmers. Shame on you.

Tags: Singur SEZ, SEZ, Tata Motors, India Political

Integrated Townships near Bangalore

Bangalore Metropolitan Region Development Authority has planned 5 integrated townships around Bangalore / Bengalooru. What are integrated townships ? Places that will let you work-live-play in a smaller area though you are not far from the Cosmopolitan Air of Bangalore.

The five places chosen by BMRDA for integrated townships are,

• Bidadi
• Ramnagaram
• Sathanur
• Solur
  
• Nandagudi

The cost involved in development of these townships is approximately Rs 30, 000 crores[ $7.5 Billion] which will escalate further as the Karnataka State Government has never completed a single project in scheduled time. BMRDA has received 32 applications for development which includes corporates such as Reliance Energy, Gammon India and Shanghai Urban Construction company.

Tags: Bangalore Integrated Township, Bengaloor Real Estate, India Real Estate, Bangalore Realty

Exclusive: Bangalore Real Estate prices Crash

The realty bubble has burst in the IT corridors of Dirty and Polluted Bangalore City. I spoke to several Realtors and they have confirmed that residential prices are on a downward swing in Whitefield and areas of Kormangala. Some good locations have seen corrections upto 33% while overall the correction has been around 25%.

The Whitefield area presently commands Rs 2500 / SFT against Rs 3,000 / SFT couple of months ago. But why the sudden crash ? Whitefield has been an area of high speculation interest. Around 40% of the homes in Whitefield area were booked by speculators even before construction of the projects had begun. These projects are now completed and ready for occupancy and the early bird owners have to pay the remaining cost and get the registration done which has led them to desperately hunt for BUYERS and to their dismay their are no BUYERS which has led to unload panically at whatever cost they can. No doubt even at Rs 2,500 / SFT the early bird bookies have made Rs 500/ SFT but what is the government doing to curb speculation in real estate ?

Some quoted that the shift in IT companies towards peripheral business districts towards Sarjapur has also led to the decline for properties Whitefield and Earthquake Porn Kormanagla area. "The rentals are likely to rise in Peripheral Business Districts due to easier connectivity and rise of IT companies" said Hamilton , Director of DebenHam Tie Leung.

Real Estate activity is brisk near Devanhalli where the new international airport is coming up. Kankapura road is also seeing lot of activity because of the DeveGowda family factor who are heavily invested in that area. However, the central business district of MG Road, Brigade and Mallya Road which had seen modest increase in 2006 are likely to see an exponential rise in 2007 when UB City opens for business.

With Inputs from Business Standard, 22-Dec-2006.

Tags: Real Estate Bubble, Realty India, Bangalore Real Estate, Bangalore Property Prices

Mukesh Ambani SEZ skyrockets Jamnagar Real Estate

Mukesh Ambani's dream to build a petroleum refining SEZ at Jamnagar has led to the skyrocketting of Real Estate prices in Jamnagar.

Reliance Retail is also building a shopping malls with multiplex. Pantaloon Retail India, Niho Constructions and Crystal have lined up their shopping mall projects. Reliance is also building a highway supermall just opposite to the existing refinery complex.

Despite Gujarat earthquake, Jamnagar has witnessed constructon of high rise buildings. Reliance has also built a township for its employees 'Reliance Green'. However, other who cannot be accomodated in Reliance Green have to shed out higher rentals. Rentals in Jamnagar are comparable to South Bangalore. A 2 BHK flat costs somewhere between Rs 8,000 to Rs 10,000 / month while a 3 BHK apartment rents out between Rs 12,000 and Rs 15,000.

DLF, Parsvnath and Rahejas are on lookout for land to establish their townships but have had little luck till now with Mukesh Ambani's group buying ever piece of land on sale.

Tags: Reliance SEZ, Jamnagar Real Estate, India Real Estate, Real Estate Bubble

Ansal Properties $4 Billion Greater Noida Township

Ansal Properties and Infrastructure Ltd will build a $4.5 Billion township in Greater Noida to take advantage of the economic growth.

The township will be built on an area of 2500 acres. The township will house more than 30,000 people and have 18 hole golf course, hotels, shopping mall, service apartment and a convention center.

The company in October raised $10 Million from HDFC Ventures and another $30 Million from Citigroup. Earlier this month the company raised another $150 Million by means of qualified institutional placement.

Tags: Real Estate India, Noida Real Estate, Delhi Real Estate, Real Estate Bubble

Bangalore 3rd largest office real estate space in the world

I was wondering where the IT/ITeS and BPO companies were expanding their operations in Bangalore / Bengalooru and here are our findings.

Most office space additions in 2006 has happened in Outer Ring Road, Sarjapura, Hosur Road, Bellary Road and Electronics City. Together this forms the Bangalore Peripheral Business District. In the Downtown / Primary business district Vijay Mallya's contributions are the highest.

In 2005, Bangalore / Bengalooru witnessed absorption of 9.5 million sft of commercial and office real estate, only behind Tokyo [12.33 Million sft] and London [ 9.96 Million sft] beating all the American cities. Bangalore's commercial real estate is the fastest growing space in the world.

In the first three quarters additional 9 Million sft of office space was absorbed in Bangalore / Bengalooru and is all set to be the leader global leader by the end of 2006.

Tags: Bangalore Real Estate, Commercial Real Estate, India Real Estate, Japan London Bangalore Realty