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adProperty News For August 2009

Most property project delays in ghaziabad, gurgaon: study
Source : Business Standard Published On : 2009-08-01 City : Mumbai
Ghaziabad and Gurgaon the satellite towns in the National Capital Region (NCR), led in terms of the highest proportion of property projects delayed in the country, which were scheduled for completion in 2008 and onwards, a new study has found.

Both these suburbs have 71 per cent of projects delayed, as against the total number of projects scheduled for completion in 2008 and onwards, a study by real estate research firm Prop Equity said. ...
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Dlf to launch 16 m sqft residential space this fiscal
Source : The Economic Times Published On : 2009-08-01 City : New Delhi
Our Bureau NEW DELHI

DLF, India’s largest property firm, plans to launch 16 million sqft of residential space in the current fiscal, even as the company continues to have a cautious outlook. DLF has been able to reduce its debt by over Rs 2,000 crore and has received another Rs 2,000 crore from group company DAL in June quarter giving indication that cash situation at the company may be fast improving.

“We are being a bit more cautious than rest of our colleagues...We will launch not just for selling but for adding value and making reasonable profit,” DLF vice-chairman Rajiv Singh told analysts in a post-earnings conference call, adding that he didn’t think the sector was “completely out of the woods”.

Mr Singh said he saw “reasonable revival in demand” not just for low-cost or mid-income, but also for high-end homes. The company would launch 8 million sqft each in mid-income and luxury housing segments across cities this fiscal.

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Home loans sanctioned at a fair
Source : The Hindu Published On : 2009-08-03 City : Chennai

Staff Reporter

Indian Bank on Sunday organised a home loan fair at four locations in the city. In-principle sanctions of home loans worth Rs. 31 crore were given to 195 customers who participated in the fair.The fair was organized by 24 branches of the Indian Bank in Alwarpet, Anna Salai, Velachery and Vadapalani.

“There is an increase in the number of home loan seekers,” said R. Panneer Selvam, Assistant General Manager of Anna Salai Branch. The average home loan amount has reduced to Rs.15 lakh. ...

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Focus on energy-friendly flats
Source : The Hindu Property Plus Published On : 2009-08-01 City : Chennai

The process of evaluating and certifying a commercial building in India for its energy efficiency has been around for a while, but it was only commercial buildings that utilised it as part of their social commitment and as a good business model.

The need to extend such a green certification program exclusively for residential development was long felt. But it was only in 2008, the Indian Green Building Council (IGBC) launched certification for Green Homes. Since then about 50 multi-family apartments/villa projects nation-wide have registered to obtain the certification, of which only four are in Chennai.

According to Mr. Ajit Chordia, Director of Olympia, Opaline located in Navalur on OMR is the first residential project in Chennai to be registered with IGBC for the green rating, continuing Olympia’s commitment to sustainability already seen in the commercial sector. ...

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

Home furnishing is one of the fastest growing sectors with a 40 per cent rise every year. Thanks to the emergence of architects and interior designers, the aptitude for creative display is growing.

“This is what gives the industry the required boost,” says market analyst Amit Bhagwan. “Home fashion and lifestyle trends are akin to the four seasons.

Nothing is constant, just as fashion. We believe that interior thoughts, ideas and colours introduced each season have to be one of its kinds to adapt to global trends. India’s strength lies in its professional designers who bring in lakhs of new ideas in designs every year,” explains Amit....

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