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adProperty News For May 2010

My sunny apartment
Source : The New Indian Express Published On : 2010-05-01 City : Chennai

Marg Limited, India leading diversified infrastructure Development Company, has launched its high-tech Savithanjali near Kelambakkam, on the Old Mahabalipuram Road OMR, to make its customers feel the necessity of possessing apartments of enduring value. Savithanjali will have 702 apartments ranging from 2 BHK, 2 BHK + Study, to 3 BHK from 1000 sq. ft onwards, all of which have been designed to offer ventilation on four sides, guaranteeing abundant sunlight, fresh air and utmost privacy .

Indeed, Savithanjali comes with a wide range of techs mart amenities like video door phone, sensor lighting, MARG Savithanjali will include outdoor children play area, club house, library, health club, Jacuzzi, swimming pool, tennis and squash courts, landscape gar dens, amphitheatre, creche, jogging track, table tennis, foot ball, carom, chess, snooker table, aerobics room and a Laundromat mood lighting, programmed foot lamps and CCTV systems. Other amenities include piped gas, telephone broadband DTH Intercom, 24x7 generator backup for common lighting and pumps, 24/7 security, lift facility, lighting arrestor and car parking facility .

S Ramakrishnan, CEO, MARG Properties, said, through the launch of Savithanjali project, we are glad to expand the portfolio of offerings under our real estate arm -MARG Properties. The project will comprise state-of-the-art tech smart features and top notch amenities to further enhance the lifestyle of its customers....

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Affordable living
Source : The New Indian Express Published On : 2010-05-01 City : Chennai

The Puravankara Projects Group consolidated net profit for the year ended March 31, 2010 was Rs 145.32 crore with revenues of Rs 478.36 crore. The net profit margin for the year at 30.38 per cent is above industry levels and has been achieved despite acute market pressures on profitability. Gross profit margins have sustained over the 42 per cent level whilst selling, general and administrative expenses are lower than the previous year despite the launching of affordable housing business by the group.

Encouraged by the performance and results of the year, the Board of Directors has recommended a dividend of 20 per cent i.e. Re 1 per share on a par value of Rs 5.

Consolidated net profit for the quarter ended March 31, 2010 was Rs 43.73 crore, representing a rise of 200 per cent over the corresponding quarter last year. Net profit margins this quarter was over 35 per cent supported by gross profit margins of above 36 per cent....

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Bangalore commercial real estate owners looking to lure tenants
Source : Indian Realty News Published On : 2010-05-01 City : Mumbai

With corporates, especially in the IT sector, looking to expand again, commercial space-owners in Bangalore, badly beaten by the real estate market crash, are competing with each other to attract good clients.

Space-owners are now bending over backwards to get a good client, and consequently, a lot of hard options are now available for tenants, says Prakrut Mehta, national director office and industrial agencies, Knight Frank India, a real estate consultancy firm.

These hard options have, in fact, become a way of life, he adds. Shrinivas Rao, CEO Asia Pacific, Vestian Workplace Services, says that most landlords are coming up with innovative propositions to attract tenants....

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Hefty prices lead to 50% decline in mumbai property sales
Source : Indian Realty News Published On : 2010-05-01 City : mumbai

City developers, who witnessed a revival of sales at hefty prices in the past six months, are now up against buyer resistance. With demand dropping like a stone, the sale of residential flats across segments has nosedived, property experts said. The drop is as high as 50% in some segments.

Says Pranay Vakil, chairman, Knight Frank, property consultants: It is a different dilemma. On the one hand, demand for land has begun. On the other, demand for residential prices is slowing down. The number is big, compared to last October November.

Those two months saw many flats being sold even as developers increased prices to almost the peak levels of 2008. Sandeep Sadh of Mumbai Property Exchange says it is a weird situation. “In South Mumbai, where there are no new constructions, people are deferring buying due to high prices even in resale flats....

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Home loan borrowers can relax
Source : The Hindu Published On : 2010-05-01 City : Chennai

There has been much speculation on interest rates, prior to the announcement of the credit policy by the Reserve Bank of India on April 20.

While the increase in the repo and the reverse repo rates and the cash reserve ratio were on expected lines, what came as a pleasant surprise, or what should keep borrowers happy, is the status quo on the lending rate front? Most banks have indicated that the borrowing rate will not see a sharp swing in the near term owing to the comfortable liquidity position.

On the face of it, the trend might push the central bank to usher in another round of rate hike as has been debated by many analysts....

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