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adProperty News For August 2009

Source : The Hindu Property Plus Published On : 2009-08-01 City : Chennai

In an attempt to promote renewable energy usage across the country, the government has sanctioned a plan to develop 15 cities, including Agra, Nagpur and Chandigarh as ’Solar Cities’.

The Ministry of New and Renewable Energy (MNRE) is implementing ’Development of Solar Cities’ aimed at reducing at least 10 per cent of the projected demand of conventional energy through renewable energy installations. During the XIth Plan (2007-12), MNRE has proposed to develop 60 cities as ’Solar Cities’.

“Fifteen cities --- Agra, Nagpur and Chandigarh, have been sanctioned for development (as ’solar cities’),” MNRE Secretary Deepak Gupta told reporters here....

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Comparison of interest rates
Source : The Hindu Property Plus Published On : 2009-08-01 City : Chennai

In response to SBI’s latest reduction of SBAR (State Bank Advance Rate) of 50 basis points and offering Home Loans at attractive interest rates under hybrid loan parameters, HDFC has announced reduction of interest on new home loans by 25 to 50 basis points.

Without altering the Retail Prime Lending Rate (RPLR), which is 13.75%, the Housing Development Finance Corporation Ltd. (HDFC) has announced reduction in interest rates on fresh home loans as follows.

For floating rate home loans up to Rs 15 lakhs, the interest rate has been reduced to 8.75% against 9.25% charged earlier. For loans between Rs 15 lakhs and Rs 30 lakhs, the new rate is 9% (against 9.25% earlier) and loans above Rs 30 lakhs are priced at Rs 9.5% (against 9.75% earlier)....

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Managing a bore well to ensure long life
Source : The Hindu Property Plus Published On : 2009-08-01 City : Chennai

A bore well in every house and apartment seems to be the motto of our cities. With irregular and short water supply from city networks and no water made available for construction purpose, borewells have become a necessity for providing supplemental water.

Understanding how to manage a borewell is, therefore, very important to ensure its long life and to ensure a trouble-free service.

Ask for the log sheet from the borewell driller including soil strata information, depth of the borewell, the number of fissures met, depth of static water level, depth and type of casing installed and steady water yield based on a pump test. ...

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Residential market shows signs of improvement
Source : The Hindu Published On : 2009-08-04 City : Chennai

Bankers are eager to fund development projects

Aloysius Xavier Lopez

Even though availability of cheap money is one of the crucial factors in making housing affordable, developers are yet to make optimum use of the rising willingness among banks to fund residential projects....

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Realtors see rise in commercial inquiries
Source : Business Standard Published On : 2009-08-04 City : New Delhi

Neeraj Thakur & Raghavendra Kamath

In the past two months, property developers have reported an increased number of inquiries for their properties, indicating the economy is on its way up, clearly visible in companies’ recent quarterly results.

This upturn comes soon after an earlier stalling of demand. In February, DLF, the country’s largest property developer, said it had stalled construction on 16 million sq ft (MSF) of commercial space (retail and office) due to lack of demand....

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