Chief Minister to head HMDA

HYDERABAD: Chief Minister Y.S. Rajasekhar Reddy will head the newly constituted Hyderabad Metropolitan Development Authority as its Chairman.

The Government issued G.O. No. 571 to this effect on Monday. While Minister for Municipal Administration and Urban Development is the Vice Chairman, Metropolitan Commissioner is the Convener. The GHMC Mayor, secretaries of all key departments like MA & UD, Revenue, Industry and Commerce, Transport and R&B, Environment and Forest, Panchayat Raj, Home, Finance, representative of Metropolitan Planning Committee, VC and MDs of Transco, APIIC, APSRTC, GHMC Commissioner, GM of South Central Railway, Chief General Manager of BSNL are the members.
Members

Another G.O. 573 was issued on Monday constituting the Executive Committee of the HMDA with Metropolitan Commissioner as Chairman and GHMC Commissioner, MD of Metro Water Supply and Sewerage board, MD, APIIC, VC and Housing Commissioner, APHB, VC and MD, APSRTC as the members besides the Collectors of Hyderabad, Ranga Reddy, Medak, Nalgonda and Mahbubnagar.
To nominate experts

The Government would also nominate experts in engineering, urban planning, estate and land management, secretary to MDA as members. Meanwhile another G.O. 572 stated that with the constitution of HMDA, HUDA, Hyderabad Airport Development Authority, Cyberabad Development Authority and Buddha Purnima Project Authority cease to exist as authorities and become functional units of HMDA. The officers and employees of these authorities would be deemed officers and employees of HMDA.

However the rules, regulations issued by these authorities under AP Urban Areas (Development) Act shall continue to be applicable even under HMDA till HMDA rules are approved by the Government.

Chance discovery of fake land documents racket

HYDERABAD: Investigation into a robbery brought to the fore an alleged organised crime involving illegal sale of land using fabricated documents in the city on Monday.

The Tappachabutra police on Sunday picked up Raheem and Sarwar, real estate businessmen, who allegedly robbed a woman Shabana Parveena on August 11, of Rs. 7.5 lakh at knifepoint. Two of their associates, Amjad and Yaseen, are still at large.

During investigations, the duo told police that they did not rob Ms. Parveena but took away their share of money pertaining to an illegal land sale transaction involving the woman and her husband Samad.

“Further inquiries revealed that the couple and the four accused were members of the same gang resorting to illegal sale of lands,” the Inspector J. Narsaiah told a press conference.

Residents of Masab Tank, the wife and husband would get details of vacant lands in and around the city from the four persons. The couple would engage labourers and undertake cleaning and digging work at the open lands. “If the original land owner turns up, they would flee the place. But they used to claim the land as their own in case no one raised objection,” the Inspector explained.

Mr. Samad would make fictitious documents in his name with the help of one Ismail and get the land registered in his wife’s name through gift deed. Later, Mr. Raheem, Mr. Sarwar, Mr. Amjad and Mr. Yaseen would find a buyer for the property and Ms. Parveena would register the land.

They had been indulging in this for the past year but disputes arose among them while sharing the money secured after registering a land on August 11.

They threatened Ms. Parveena with a knife while she was carrying home Rs. 7.5 lakh, and took away the money. Mr. Narsaiah said the Rajendranagar police were informed of the fraud as the lands sold by the gang were located in their jurisdiction.

Kakinada SEZ: Patkar threatens stir by NGOs

HYDERABAD: Narmada Bachao Andolan leader Medha Patkar has warned that voluntary organisations across the country will begin an agitation if illegal acquisition of land for the Special Economic Zone (SEZ) at Kakinada did not stop.

Inaugurating a five-day dharna camp against SEZs being organised by the National Alliance of People’s Movements, of which she is the national convener, here on Monday, Ms. Patkar said the Kakinada SEZ was just a beginning of the take over of the 972 km long coast of the State. A whole corporate lobby, including the petrochemical and petroleum industry led by the Ambanis, had set its sight on the corridor.

She said the proposal to sell to the industry 1,500 acres of cultivable land near Kakinada had forced the NGOs to take up the cause of evacuees, most of whom were from Scheduled Castes.

The corporates were shown undue and unconstitutional favours at the cost of land owners.
Plea to Governor

Ms. Patkar sought the intervention of Governor N.D. Tiwari in inclusion of 805 villages of nine districts in Schedule V.

She appealed to the Governor to invoke his constitutional powers to see that the demand which was pending for the last 28 years was met.
Movements weakened

Human rights activist K. Balagopal regretted that the people’s movements had weakened in the State as the supporters joined various political parties. The party led by film star Chiranjeevi was their latest craze.
Tata Motors

Talking to media persons on the Singur imbroglio later, Ms. Patkar said the Tata Motors was welcome to shift its Nano project out of West Bengal.

The protest against the project would continue wherever it was proposed to be set up in agricultural lands.

The project could come up in fallow lands as in the case of Hind Motors, she added.

International airport to be equipped with hi-tech facility

HYDERABAD: The Rajiv Gandhi International Airport at Shamshabad will soon have a state-of-the-art maintenance, repair and overhaul (MRO) facility for providing maintenance to narrow and wide-bodied aircraft.

GMR Hyderabad International Airport Limited has signed a memorandum of understanding with Malaysia Airlines for setting up the MRO facility. A majority of the aircraft are being sent Malaysia and other overseas MRO providers for heavy maintenance works.

As part of the MoU, the engineering and maintenance wing of the Malaysia Airlines will provide certifications, technical and management expertise in addition to operations and maintenance know-how. It had commenced training for the first batch of 70 Indian trainees already.

Commenting on the MoU, Malaysia Airlines executive director/CFO Tengku Azmil said, this was their first foray into the Indian aircraft maintenance market .

GMR Group chairman Kiran Kumar Grandhi and other officers said the MRO centre would handle all types of aircraft from light jets to super-jumbos like the A380.

Reliance Big TV DTH launched

HYDERABAD: Consumers in the State will now have a wider choice of Direct to Home service providers with Reliance Big TV launching its service across 491 cities on Thursday.

‘Big TV’ comes with 200 plus channels with eight transponders at its disposal, latest technology and several new features to enhance the TV viewing experience of consumers, Chief Executive Officer Arun Kapoor said here on Thursday.

Addressing mediapersons, Mr. Kapoor said the company would offer over 300 channels by the middle of next year and would also provide features like Picture-in-Picture to enable viewers to watch 12 TV channels at the same time. The DTH service is available at 6,517 outlets in the State including 83 exclusive Reliance branded outlets. At present available in 6,500 towns in the country, it would reach 10,000 towns by March, 2009, he said.

Predicting huge growth potential for DTH sector, he said the company had infrastructure in place to serve over five million new customers every year. The initial subscription would be about Rs. 1,990 for ‘South Starter Pack’ with 147 channels and Rs. 2,100 for ‘South Popular Pack’ of 150 channels.

9 lakh acres of forest land to be distributed

KHAMMAM: Nine lakh acres of forest land would be distributed to tribal communities in line with the Scheduled Tribes and Other Traditional Forest Dwelling Castes ( Recognition of forest rights ) Act, 2006, according to Minister for Tribal Welfare D. S. Redya Naik here on Thursday.

Reviewing the implementation of the Remote and Interior Area Development (RIAD) Programme with the district officials here he said over three lakh claims received in the State were under consideration of the forest rights committees constituted at the various levels for the implementation of the act in the State.

He said some 62,637 claims were received in the 350 forest villages staking claim for 2.53 lakh acres in Khammam district and the claims were all processed by 367 forest rights committees. In all 1, 570 claims pertaining to 4,700 acres of land were already approved by the committees.

In all 144 surveyors, 350 mobilisers and 32 other personnel were involved in the exercise taken up for processing the claims in the district.

He wanted the officials to gear up for completing the process latest by October 30.

He said the Government had allocated Rs. 20 crore for processing the claims and distributing the forest land to the tribal communities and other traditional forest dwellers.

He explained that 137 villages and 516 habitations were identified in Khammam for providing basic amenities under the RIAD.

Khammam would get a share of Rs. 2 crore out of Rs. 87 crore allocated by the government for implementation of RIAD in the State. He reviewed the progress of the RIAD activities taken up by the various departments in the district on Thursday.

He wanted the officials to step up the pace of the programme implementation in the district.

Collector Shashibhusan Kumar, Conservator of Forests S. M. Selva Raj, ITDA Project Officer Budhaprakash Jyothi were among those who took part in the review.

Chief Minister lays foundation stone for Spices Park

YADLAPADU/ NARSARAOPET: Chief Minister Y.S. Rajasekhara Reddy on Thursday laid the foundation stone for a Spices Park at Mydavolu village in Yadlapadu mandal. Union Minister of State for Commerce Jairam Ramesh was present.

The Spices Park would come up on a 125-acre site, making it the largest of the six parks coming across the country. It would have facilities for mass drying of Chilli, besides processing, drying and pulverizing of other spices.

Speaking on the occasion, Dr. Reddy termed the park a boon to the farmers of the region who had been cultivating chilli and turmeric for many years. The spices laboratory which would also come up in this region would provide the technical and scientific assistance to the farmers. He assured the farmers, who had given away land for the park, jobs in the Government.

Union Minister of State for Commerce Jairam Ramesh said that the park being built at a cost of Rs.85 crores would be completed within two years. The Commerce Ministry would provide Rs.25 crore, while the remaining amount would be pooled through investments from four private companies. He said that four private companies had already evinced interest in setting up facilities and land had been allotted to them. Guntur M.P Rayapati Sambasiva Rao, Ministers M. Venkata Ramana Rao, M. Hanumantha Rao, Chilakaluripet MLA Marri Rajasekhar, MLAs and MLCs were present.

Mr. Reddy arrived an hour behind the schedule from Rajahmundry as overcast conditions prevailing throughout the day kept the officials on tenterhooks. The Chief Minister landed at Narsaraopet one and a half hours behind the schedule. With the helipad at the K.B.R College soaked due to the overnight heavy rain, officials made emergency landing arrangements on the Guntur Road.

Later, inaugurating the Rajiv Arogyasri Health Insurance and a mega medical camp held on the grounds of P.N.C & K.R College grounds at Narsaraopet, the Chief Minister said that the State Government would soon introduce `104’ telemedicine services across the State. People living in villages, located at least 3 k.m away from the nearest Primary Health Centres, could avail themselves of this facility. The `hospital on wheels’ would visit every village at least once a month and screen the patients. Health Minister Galla Aruana Kumari, Civil Supplies Minister Kasu Krishna Reddy and Rajiv Arogyasri Trust C.E.O A. Babu were present.

Twenty-two more FOBs for city

HYDERABAD: Twenty-two more Foot Over Bridges (FOBs) are likely to dot the city in the coming days as also new bus shelters, said Minister for Backward Class Welfare M. Mukesh Goud here on Wednesday.

Mr. Goud accompanied by Secunderabad MP Anjan Kumar Yadav formally opened two (FOBs) at Ameerpet and Khairtabad built at a cost of Rs. 25 lakh each. Interestingly, people were already using them for sometime now and both structures will have to be removed and shifted elsewhere later as they fall into the metro rail line one corridor between Miyapur and L.B.Nagar.

The duo on a whirlwind tour also opened water fountains at Indira Park set up at a cost of Rs. 30 lakh and a modern bus shelter at Gandhi Hospital which also has a digital display of information of services. Automatic parking system too was inaugurated at Basheerbagh.

Additional Commissioner (Advertisements) G. Vani Mohan informed that 500 locations within the core city area were chosen for construction of modern bus shelters on a design, finance, build, maintain and transfer mode with each costing Rs. 5 to Rs. 7 lakh with seating and dust bin provision, ATM, bus and train reservations.

Each shelter will have a digital display with GIS/GPS technology and tracking of information of buses arrivals for every 30 seconds interval. Another 642 existing ordinary shelters too are to be converted into modern shelters under the public private partnership mode with advertisement rights.

She further stated that while 50 new FOBs were being planned, tenders were finalised for 22 and location hunting was on for 28 others with escalators and elevators. Automated parking system was being tried out on four roads and the charges are Rs.10 for a car and Rs. 5 for a two-wheeler for an hour.

At Indira Park, activists of the striking A.P. Major Gram Panchayat Sarpanches Forum whose protest camp was across the road, laid siege to the Minister’s vehicle and did not allow him to move till he visited their camp.

They alleged that despite the Chief Minister’s promise to pay Rs. 350 crore bills for streetlights, officials were not relenting.

Other demands include enhancing their status to a ‘C’ grade municipality, sanctioning sanitary inspector posts and more funds in tune with the 74th amendment made by Rajiv Gandhi whose name the government chants all the time. Mr. Goud assured to take up the matter with the Chief Minister Dr. Y.S. Rajasekhara Reddy.

GMR signs MoU with Malaysian airline

HYDERABAD: The GMR Hyderabad International Airport Limited has signed a memorandum of understanding with Malaysian Airlines on establishing a world class Maintenance, Repair and Overhaul (MRO) facility to provide maintenance services on narrow and wide body aircraft at the Rajiv Gandhi International Airport, Shamshabad.

According to a statement issued here on Wednesday, the Malaysian Airlines was represented by Executive Director/ Chief Financial Officer, Tengku Azmil Zahruddin and the GMR Group by the Chairman-Airports, Kiran Kumar Grandhi.

“The timing of the partnership, representing MAS E&M’s first foray into the Indian aircraft maintenance market is prefect as the Indian market is experiencing strong aircraft growth,” Mr.Azmil said.

All the narrow and wide body aircrafts require maintenance but the current MRO providers here were unable to cope with the requirements, he said adding that at present, most of the aircraft are sent to Malaysia and other MRO providers overseas for heavy maintenance.

The MRO centre will be able to handle all types of aircraft from light jets to super-jumbos such as the A380.

Project to connect temples with Tirumala

HYDERABAD: The State is all set to have an exclusive tourism project, aimed at unleashing a new tourism potential by connecting 23 ancient temples in Nellore and Chittoor districts with temple of Tirupati. The Department of Tourism will take up the project Heritage Circuit Project with a financial assistance of Rs. 32 crore from the Centre.

Infrastructure and other facilities, so vital for tourism, will be developed in these pilgrim centres, informed Kanthi Singh, Union Minister of State for Tourism and Culture on Wednesday. The Minister was speaking after inaugurating the fifth batch of MBA Tourism and Hospitality Management programme at the National Institute of Tourism and Hospitality Management (NITHM) here.

Ms. Singh said the much delayed Southern Splendour project, a tourist circuit train service connecting the South Indian states, has reached its finalisation stage. The project was delayed due to protracted talks with other southern States, said Principal Secretary of Tourism, Lakshmi Parthasarathy. While Karnataka withdrew from the project in favour of its own tourist express service, Orissa and Pondicherry have agreed to join as new partners. “The project is estimated to cost nearly Rs. 60 crore,” said Ms. Parthasarathy. The State is implementing nine tourism projects in 2007-08 with assistance of Rs. 262 crore from the Centre, she added

Ms. Singh appreciated the role of NITHM in training the well-nurtured human resources for tourism sector.

Girls hostel land issue takes a new twist

ADILABAD: The contentious issue related to allocation of land for the pre matriculation minority girls hostel in town has taken a new twist with department of Intermediate Education taking umbrage over the manner in which Adilabad Revenue department handled the issue.

The land in question is part of the Government Junior College for girls close to the District Collectorate that was allocated to the Development Officer of Minority Welfare department for construction of the proposed hostel.

The prudence of Revenue authorities in allocating a piece of land that was already in possession of another government wing has come to be questioned. It is also being pointed out that authorities have contravened the land alienation regulations by according ‘advance possession’ of the land to the concerned department August 16.

The three acres of land was allocated to the Girls Junior College in 1996. Meanwhile, several student organisations have planned protests on the issue for Thursday.

Chandanagar turns into a residential hub

Chandanagar has emerged as a major residential hub of business executives, IT professionals and employees of various organisations. Most of them are fed up with the hustle and bustle of city life and prefer to settle down in Chandanagar, which is relatively quiet. At the same time it also has connectivity to Hitec city, Gachhibowli, Hyderabad Central University, Patancheru, IDA Bollaram and Zaheerabad.

The MMTS railway station has become an added advantage for Chandanagar, which comes under the jurisdiction of the Greater Hyderabad Municipal Corporation-Serlingampally circle. With demand for flats and individual houses going up, construction activity has picked up in the area. For those who work in various industries located in Ramachandrapuram and Zaheerabad, Chandanagar is the right place to have their dream homes.

"Though the cost of construction material is skyrocketing, per square feet cost is still between Rs 2,400 and Rs 2,800 here," says Mrs M. Vijaya Laxmi, managing partner of Prem Constructions. "Even young software engineers whose monthly income is around Rs 40,000 can afford to own houses here." Some builders feel that high rents in the area have also interested property buyers. "The monthly rent for a two-bedroom flat is between Rs 8,000 to Rs 12,000," says Mr Chinna Raghava Rao, managing director of Vijaya Raghava Constructions. "And the demand is growing with the establishment of several companies in nearby localities."

Those who give out the newly purchased flats on rent will also be able to pay back their bank loans quickly. "We have recently purchased a house in Chandanagar after carefully analysing the advantages," says Ms P.K. Sai Rekha, an executive of the National Institute of Smart Government. "I'm happy with the social infrastructure. Moreover, there is no water scarcity here." Mr M. Muralidhar, who is employed with a private organisation in Khairatabad, says that he is able to travel easily because of the MMTS connectivity from Chandanagar. "It helps me avoid traffic congestion and sound pollution and I can also unwind after reaching home in the evenings," says Mr Muralidhar.

Bangalore Highway becomes realty hub

Bangalore National Highway 7 is now witnessing real estate boom with the proposal of Hyderabad Metropolitan Development Authority. HMDA, which is going to oversee planned growth in outskirts will formally come into being in a couple of weeks.It will replace the existing Huda. HMDA will cover an area of 6,856 sq. km spread over five districts such as Hyderabad, Ranga Reddy, Mahabubnagar, Medak and Nalgonda on the lines of National Capital Region of Delhi. Realtors are expecting huge construction activity in and around Kottur and Shadnagar of Mahabubnagar district in the next two years as state government is very keen on developing this area to de-congest the core the city.Realtors say Bangalore NH-7 is the right place for investment with the proposal of textile park, apparel park, aero hub, star hotels, IT parks and industrial estates.

Connectivity to ORR project is an added advantage for this Bangalore route. Suchirindia, Jaimata Di Villas Private Limited, JSR Real Estates, Vintage Avenue Private Limited, HemaEstates and several other Hyderabad real estate companies have already taken up various projects, anticipating future growth in the route. Suchirindia chief executive officer Lion Dr Y. Kiron says, "There is overwhelming response to our projects like TimberLeaf gated community in which 125 villas are being constructed near international airport. We feel Bangalore Highway is the future destination for real estate companies." Jaimata Di Villas executive director Mr Murali Retineni says: "After careful assessment, we have chosen Bangalore highway route for the construction of integrated townships in Shadnagar-Kottur area," he added.

Some real estate firms are keen on developing layouts after obtaining permissions from Huda and DTCP. According to realtors, per sq. yard is ranging from Rs 2,000 to Rs 10,000 in majority of the ventures. JSR Real Estates India Private Limited MD Mr Narayana Jadappalli says: "As per our assessment, the buyers of the plots will get good returns in just two years." "We fixed Rs 3,800 per sq. yard to benefit the investors of middle class sections also," he added. JSR Real Estates has developed ventures like Sri Sai Haritha Residencia and Sri Sai Lakshmi Residencia near Shamshabad airport. Hema Estates MD Mr J. Kishore says, "We have developed Dhathrri Township near Kottur JP Darga since it has better connectivity. Four lane road will always stimulate economic activity and provide employment to lakhs of people."Vintage Avenue Private Limited chairman and MD N.Venkateswara Rao anticipates, "Shamshabad, Shadnagar, Kottur and surrounding areas will be developed as another city very shortly as several new projects are being planned by both government and private companies." We started several ventures like Vintage Classic, Vintage Flora and Vintage Olympia in Bangalore Highway after studying the development plans of the government," he added. Even realty majors like DLF has also acquired more than 500 acres of land in Bangalore Highway.

Luxury realty bucks the southward trend

The rich and well-heeled are immune to inflation. Or, so real estate developers in the country would have us believe, citing the pace at which ultra-luxury residential properties are flying off the shelves.

Non-residents homing in thick and fast

Amber Maheshwari, director of real estate consulting firm DTZ, said, "There has been no slowdown in demand for the Rs 2.5 crore-plus homes. People who can afford these homes are from the affluent segments that are not impacted by inflation or higher interest rates."

Low-cost housing, of a high quality

That should be music to the ears of real estate developers catering to the premium luxury segment, for the margins these projects earn are way over those managed by the mid- and lower segment residential projects.

In sharp contrast, mid-segment projects, priced below Rs 1 crore, have seen a slump in both prices and demand. Real estate consultants blame this on the economic conditions, which are eroding the disposable incomes of people.According to a recent study by real estate consultancy Asipac in eight major cities, the average price in the luxury segment has actually increased by 5% to 10% compared with a dip in the prices of mid-segment apartments in the first half of 2008.Amit Bagaria, chairman, Asipac said, "Luxury homes from reputed and established developers have done quite well, and prices are on an upward trend."

A source said NRIs are the biggest drivers for this increase in demand for luxury homes. NRI sales have picked up by 10-15% this quarter.Luxury realty bucks the southward trend Prakash Gurbaxani, CEO and MD, QVC Realty said, "NRIs are investing in Indian realty as they see good value in the Indian realty space going forward."QVC Realty will pump in Rs 1,000 crore in four new projects in the luxury segment - two in Gurgaon and one each in Chikmaglur and Bangalore. It will develop eight million sq ft of area by 2012, with each house priced between Rs 1.64 crore and Rs 4 crore.

"Our focus is on the luxury segment. We have no plans to enter the mid-sized apartment segment now as there is surplus supply there," added Gurbaxani.Another big-ticket project Casa Estebana is being developed by the Koncept Ambience Group in Hyderabad. These are Spanish villas of 8,000-16,000 sq ft each, whose prices have appreciated by 41% in the past 16 months to Rs 7-19 crore. Around 65% of the villas have been sold, and the first phase is slated for completion by September 2009.

Koncept is developing five luxury residential projects in various parts of the country.Lanco Infratech's Rs 8,000-crore mixed-development project, Lanco Hills in Hyderabad, has also allotted 4.5 million sq ft for luxury apartments.S Pochendar, CEO of Lanco Hills, said, "The group plans to invest some Rs 10,000 crore in the next 3-4 years to launch luxury homes in other cities like Chennai."

Several other luxury housing projects, with home prices of Rs 2 crore and above, are in the pipeline. These include Emaar MGF's Boulder Hills (Hyderabad), Prestige Group's Prestige Golfshire (Bangalore) and Jaypee's luxury residential project in Greater Noida.Gated communities have also become very popular in Pune, and are fast gaining popularity in Chennai and Kolkata, too. Still, not everyone's convinced the luxury homes are flying off the shelves as fast as the developers claim.Sailesh Kanani, a research analyst with Angel Broking, said, "The premium products are not being able to sell as expected."

Hyderabad Real Estate Market News

Real estate market news in Hyderabad brings you up to date information vis-à-vis any development in the domain of local real estate market. You are also supplied with the information on the current status of development work at major construction sites. Moreover, the knowledge of present market trend in Hyderabad Properties a must for real estate investor seeking viable avenues for promising returns.

Hyderabad is a potential real estate market with various property investment opportunities. Builders and developers in India have marked Hyderabad as a major real estate ground with some of their most ambitious residential and commercial projects drafted for the city of Pearls. The Hyderabad real estate market news gives you updates on the upcoming housing, retail or commercial projects of the various housing companies and also the builders in Hyderabad.

Being a major IT hub of India, Hyderabad is witnessing emergence of numerous integrated townships, Business Technology Parks, IT Parks , corporate office complexes, shopping and leisure zones etc. A follow up of each real estate developments is available through the real estate market news available through various media like TV, radio and now the Internet. Online Hyderabad real estate market news websites have gained much popularity owing to the popularity of Hyderabad city as a potential investment destination.

Deadline for land regularisation set for Aug. 31

The deadline for regularising encroachments on government land will end on August 31 and there will be no further extensions, chief commissioner of land administration (CCLA) Deepak Kumar Panwar said here on Monday. Addressing a press conference, he said applicants can pay the penal amount in four instalments. The commissioner said 98,000 applications for regularisation have been received since February 2008 after the regularisation GO was issued. He said another lakh applications were expected in the next 20 days and this scheme would fetch about Rs 250 crore revenue to the government towards penal amount. Panwar said the applications could be submitted at the mandal revenue offices, revenue divisional offices and collectorates. "Of the total, 67,000 applications were received only in Hyderabad and RangaReddy districts,'' he added. The GO would be applicable for un-assigned land occupants and people who occupied governmentland prior to December 31, 2003. He said unlike earlier schemes, only six types of documents like electricity bill, telephone bills, registration document, water bills would be accepted as evidence for occupation. Panwar said the existing disputed land would also be cleared if persons come forward for withdrawal of court cases. Bulk applications cannot be accepted and only individual and cooperative society applications would be accepted, the CCLA chief said. He said below 80 square yards land occupied by below poverty line families would be regularised at free of cost without alienation.

Elevated expressway to be completed by May 2009

The heavy downpour that brought the city to a standstill last week also ended up affecting the progress of the P. V. Narasimha Rao Elevated Expressway which when ready is expected to provide a smooth connectivity to the International Airport at Shamshabad.Originally scheduled to be operational by October this year, work on the 11.5 km long project was delayed for several reasons and presently is expected to be completed by May 2009. With the connectivity in the form of elevated expressway not ready and work in progress along the stretch, the access to and from the airport has been a troubled experience for commuters.

The Hyderabad Urban Development Authority (HUDA) officials admit that the rains did affect the work on the expressway adding, "The planning goes haywire with such rains". Since concreting work is involved, the kind of downpour experienced last week brings the work to a halt.At many points along the worksites, the rains ended up accumulating as pools causing obstructions not only to the road users but also the progress of work. However, the HUDA officials express confidence on keeping the construction work going on to meet the new deadline. The delay, officials say, happened due to various factors from land acquisition to shifting of statues and some utilities such as telecom, water and electricity.

Of the 328 foundations, 125 are still to be done, but that is not seen as a critical task. "The critical task is associated with casting of segments and erecting them," points out HUDA Chief Engineer Vivek Deshmukh. The work on segments is going at a casting yard and transfer and setting them up too is a job that calls for extreme caution. "They weigh about 80 tonnes and need to be handled carefully. Lifting the heavy segments demand critical care and we have to take into cognisance several factors including the safety of those moving around," he said.Even for the rest of the pier work, some intervention is needed from electricity and water department in the form of shifting cabling and pipelines. Mr. Deshmukh however, does not see them as really hampering the work at present and expect those things to be taken up in time. "We are hopeful of meeting the May 2009 deadline," he assures.

Trump launches $1b Indian hedge fund

Donald Trump Jr. - the son of the brash American real estate tycoon and reality-TV star - appeared at the high-profile Cityscape India 2007 real estate conference in Mumbai to give a speech on the subcontinent's booming property market. Trump, the executive vice president of development and acquisitions at New York-based Trump Organization USA LLC, said India's red-hot economy has fueled demand for more residential development, particularly luxury housing, but also hotels and resorts for the country's flourishing tourism industry. Before he departed, Trump indicated his desire to invest in India's real estate sector, and hinted that he wouldn't wait long to do so. "We feel it is now time to invest in Indian realty projects as the quality has moved up and we see emergence of some high-end developers with a product level that will support our brand," he said in his speech.

It appears that time is now: Trump announced in late July that he intends to set up a hedge fund worth up to $1 billion to invest in Indian real estate. Accordingly, the privately held fund would initially target property in Mumbai and also include an Indian family as investors. Thirty year-old Trump did not give specific details about the fund, such as how he plans to raise the money, or where the first investment would be made. But in an interview with New York-based media company Bloomberg LP, he did say that it would start conservatively and expand as the opportunities presented themselves."The fund will be for acquisitions of real estate in the high end and across the spectrum," Trump said. "We'll start it off relatively small and grow it as we get more familiar with the Indian market. Our entry has to be in Mumbai, and that's where everything is going on right now in terms of the high-end real estate. That's the place where one is going to achieve the highest prices per square foot. It sets the tone for all of the other future developments."Trump eschews investing in India's smaller and less-affluent cities - he stated publicly at Cityscape India 2007 that he has no intention of entering the middle- or low-income segment because "the best is in the high-end sector." When asked at the conference which cities Trump Organization would consider for business deals, Trump responded, "Certainly, the city I'm standing on (Mumbai), Delhi, Hyderabad and Bangalore, where the IT sector has witnessed a boom."

FAST FACTS

Trump Organization USA announced plans to launch a $1 billion hedge fund to invest in Indian real estate. Donald Trump Jr.'s interest in the Indian real estate market was sparked in 2007 when he visited the subcontinent for the Cityscape real-estate conference in Mumbai.

Quote: "We'll start it off relatively small and grow it as we get more familiar with the Indian market," Trump Jr. said. India's personal wealth has exploded in recent years. According to the World Wealth Report 2008, issued June 24 by New York-based financial giant Merrill Lynch & Co. and Paris-based consulting firm Cap Gemini SA, the number of Indians with financial assets in excess of $1 million grew by nearly 23 percent in 2007 alone, surpassing China's 20 percent growth and Brazil's 19 percent increase."India led the world in [high-net-wealth individuals] population growth at 22.7 percent, driven by market capitalization growth of 118 percent and real [gross domestic product] growth of 7.9 percent. Although India's real GDP growth decelerated from 9.4 percent in 2006, current levels are considered more stable and sustainable. India's two largest exchanges - the Bombay Stock Exchange and the National Stock Exchange - ranked among the world's top 12 exchanges by end of 2007, boosted by initial public offering markets and heightened international interest," the report stated. In an effort to tap this local wealth, Trump Organization is moving forward with plans to build a luxury residential and hotel project in Mumbai, announced last year. The company picked this west-central coastal city of 13 million because of its

status as an international center of commerce and India's commercial and entertainment center: Mumbai generates some 5 percent of India's gross domestic product and accounts for nearly one-quarter of its industrial output. It is also home to such important financial institutions as the Reserve Bank of India, the Bombay Stock Exchange, the National Stock Exchange of India and the corporate headquarters of many of India's largest companies and numerous multinational corporations.Yet, Trump will also be entering India at a time when rising inflation has nudged borrowing costs to their highest levels since 2002, effectively curbing the country's five-year property boom and sending valuations for many projects downward. Nationwide, inflation rose 11.98 percent in the year ending July 19, which prompted the Reserve Bank of India to issue new policies aimed at curbing the trend. Still, interest rates on home loans have continued to creep upward by 1-to-1.5 percentage points, from around 10.5 percent to 12 percent annually. Many analysts expect inflation to remain at current levels, if not higher.

"We expect headline inflation to possibly cross 13 percent levels. With inflation likely to remain in the double-digit range for the next few months and supply-side measures not really being effective in bringing inflation down, we expect the Reserve Bank of India to continue to raise rates to temper demand-side pressure," Citigroup India economists Rohini Malkani and Anushka Shah said in a July research note.The younger Trump's plans to launch the $1 billion Indian real estate fund reflects Trump Organization's push to expand globally. The privately held company - which does business in a variety of real estate sectors, including residential properties, hotels, office, golf clubs, as well as gaming and merchandising entertainment - plans to develop a pair of mixed-use projects in Istanbul, Turkey, and Dubai. The Istanbul project, which Trump Organization announced in April, will

consist of two towers and a luxury shopping center, while in Dubai, the company has partnered with local developer Al Nakheel Properties to build the $600 million, 62-story Palm Trump International Hotel & Tower on the trunk of the Palm Jumeirah.One of the world's most recognizable manmade landmarks, Palm Jumeirah, an artificial island shaped like a palm tree off the Dubai coast. It was built by Nakheel and is owned by the Emirate government. Trump Organization already has properties in Dominion Republic, Seoul, Toronto, Panama, and Mexico.If the company succeeds with its plans for India, it will joint various other real estate and financial-services firms that in recent years have invested vast sums of money in the Indian property market. The list includes:

*Lehman Brothers Real Estate Partners LP, which recently invested $175 million in a Mumbai real estate development that is being built by Gurgaon-based construction firm Unitech Ltd., and is in talks with Unitech to invest an additional $525 million in the project.

*RREEF India Advisors Pvt. Ltd., an India-specific alternative-investments business launched in April by Deutsche Bank AG's New York-based alt-investments subsidiary, RREEF Alternative Investments. Headquartered in Mumbai, RREEF India Advisors plans to invest $1 billion in Indian real estate and infrastructure projects over the next three years, beginning with a 31-acre, $400 million mixed-use development outside of Hyderabad.

*JPMorgan Chase & Co., which acquired a 4-percent stake in New Delhi-based real estate developer BPTP Ltd. earlier this month for $60 million. The New York-based financial giant previously invested in Lodha Group, a Mumbai-based commercial real estate developer.

Indu Projects receives USD 77 mn from Credit Suisse

Infrastructure major Indu Projects on Thursday said it has received an investment of USD 77 mn from Swiss banking major Credit Suisse.This is the first tranche of an overall investment of USD 113 mn, a company release said here."This substantial investment will help us create value by expanding our presence within India. It is also an important step in our diversification, wherein we plan to utilise our partner's global reach," the company's Chairman and Managing Director, Syam Prasad Reddy, said.

This investment bolsters Credit Suisse's long-term commitment to India. We see this as a tremendous opportunity to participate in the strong growth of the country's real estate and infrastructure sectors," Credit Suisse Managing Director and Head of Real Estate Finance, Asia Pacific, Samir Nayar said.Avendus Capital was the sole advisor to this transaction.The Indu Group, with a sizeable presence in the south and west of the country, has a diversified business in the area of core infrastructure with several irrigation, road, railway and BOT (build, operate and transfer) projects under its belt.The firm plans to enter contract coal mining and build agro-food parks and rural transformation centres.

Desirable environs

Genome Valley, the first state-of-the-art biotech cluster for life science research, training and manufacturing activities, is a major draw for those looking to buy a plot near Shamirpet. More than 100 biotech companies will give the location an edge with the sector poised to find roots here.

While ICICI Knowledge Park is located on a 200 acre site, S. P. Biotech Park spreads over 300 acres and the third phase of the Biotech Park is on 414 acres. Near this phase, the Desire Estates and Properties is offering residential plots that are expected to cater to the future demand for residential needs in the area.

Spread over 21 acres in serene environs is the Desire Supreme. The amenities include development as DTCP norms, ‘vaastu’ compliance, black top roads, open spaces, club house, children’s park and avenue plantation. The Desire Estates and Properties (Ph. 9246156109) plots are on offer at Rs.1,800 per sq. yd.

HUDA changes plot sale norms in Hyderabad

The Hyderabad Urban Development Authority has been forced to revert to its earlier mandate of forming layouts and auction individual plots to people. With big developers showing no interest in buying land in bulk from HUDA, the Chief Minister, Dr Y.S. Rajasekhar Reddy, directed the agency to develop layouts on its own. Official sources said a decision in this regard was taken at a high-level meeting on resource mobilisation on Tuesday. The move is likely to provide some relief to people as they can buy plots at rates cheaper than the ones developed by private agencies. The slump in the real estate market had its worst effect on the state’s plans to mobilise funds by selling its land in July. Though Rs 715 crore was realised out of the targeted Rs 790 crore, HUDA contributed Rs 500 crore by mortgaging its land.

The Andhra Pradesh Industrial Infrastructure Corporation, for the first time, fell Rs 200 crore short of its target of Rs 300 crore while the AP Housing Board’s contribution was also not up to the target. Sources said the principal secretary (finance), Mr I.Y.R. Krishna Rao, suggested the formation of layouts and development of infrastructure besides sale of these plots through auctions. The Chief Minister is believed to have suggested that the size of each plot could be between 500 sq. yds and 1000 sq. yds. The Chief Minister also expressed displeasure over the fact that the agencies repeatedly showed court cases as an excuse for the slowdown in sales. He asked the officials to engage efficient lawyers as standing counsel and end litigation as soon as possible.

Desirable environs

Genome Valley, the first state-of-the-art biotech cluster for life science research, training and manufacturing activities, is a major draw for those looking to buy a plot near Shamirpet. More than 100 biotech companies will give the location an edge with the sector poised to find roots here.

While ICICI Knowledge Park is located on a 200 acre site, S. P. Biotech Park spreads over 300 acres and the third phase of the Biotech Park is on 414 acres. Near this phase, the Desire Estates and Properties is offering residential plots that are expected to cater to the future demand for residential needs in the area.

Spread over 21 acres in serene environs is the Desire Supreme. The amenities include development as DTCP norms, ‘vaastu’ compliance, black top roads, open spaces, club house, children’s park and avenue plantation. The Desire Estates and Properties (Ph. 9246156109) plots are on offer at Rs.1,800 per sq. yd.

Cosy corner to curl up

If you’re a bookworm, you probably have lots of books. And students are bound to have lots of them. Despite the fact that we have entered the era of digital books, for many of us, flipping pages physically and the inhaling the smell of a book means a lot. For some, book-reading is a hobby; for others it’s almost obsessive.

For bookworms, the space where they are reading the book matters as much as what book they are reading. Creating a cosy little book corner in your homes doesn’t really require much. An ideal room for a book lover would be one with high ceiling to accommodate big shelves. Also the room has to have good ventilation, so that your books don’t smell musty and old. “Humidity is perhaps the biggest enemy for any book collector or lover,” says Sunil Kumar, an architect. It is necessary to make sure that the books are stored in a dry place and the shelves are placed accordingly, he says. Too much heat can dry out the pages causing stiffness in them. Some types of paper can crumble with too much stiffness.
Proper lighting

In the reading room, one should plan the lights very carefully as the intensity affects the eyes. Sufficient lighting is the most important factor to be considered while creating a book corner. There should be proper facility for natural lighting to seep in. “Light should enter from all sides allowing the reader to move around the room,” says Sunil. In other words, wherever you go with your book in hand, the light should follow! For maximum pleasure of reading and for easier concentration, reading lamps should have proper quality and quantity of illumination and light should fall comfortably on the open page.

The kind of furniture you chose to place in a book corner completely depends on your taste and space availability. A divan will be comfortable for the reader, as he can choose to take a short nap after reading a bit. If you have a French window, then a small mattress on the floor with bolsters on each side will make a good reading space. This also saves you from spending on expensive furniture. A simple cane rocking chair would also be a good option. Bean bags and overstuffed couches are also popular additions and make for comfortable reading.

Again depending on the space you have, select your shelves. Choose from recessed, free-standing and hanging shelves depending on your personal preferences. Only make sure that the books are within reach and in a dust-free environment.

HUDA changes plot sale norms in Hyderabad

The Hyderabad Urban Development Authority has been forced to revert to its earlier mandate of forming layouts and auction individual plots to people. With big developers showing no interest in buying land in bulk from HUDA, the Chief Minister, Dr Y.S. Rajasekhar Reddy, directed the agency to develop layouts on its own. Official sources said a decision in this regard was taken at a high-level meeting on resource mobilisation on Tuesday. The move is likely to provide some relief to people as they can buy plots at rates cheaper than the ones developed by private agencies. The slump in the real estate market had its worst effect on the state’s plans to mobilise funds by selling its land in July. Though Rs 715 crore was realised out of the targeted Rs 790 crore, HUDA contributed Rs 500 crore by mortgaging its land.

The Andhra Pradesh Industrial Infrastructure Corporation, for the first time, fell Rs 200 crore short of its target of Rs 300 crore while the AP Housing Board’s contribution was also not up to the target. Sources said the principal secretary (finance), Mr I.Y.R. Krishna Rao, suggested the formation of layouts and development of infrastructure besides sale of these plots through auctions. The Chief Minister is believed to have suggested that the size of each plot could be between 500 sq. yds and 1000 sq. yds. The Chief Minister also expressed displeasure over the fact that the agencies repeatedly showed court cases as an excuse for the slowdown in sales. He asked the officials to engage efficient lawyers as standing counsel and end litigation as soon as possible.

Credit Suisse invests $100m in real estate in Hyderabad

In one of the largest private equity deals in the real estate sector this year, financial services major Credit Suisse has invested $100 million (about Rs 430 crore) in Hyderabad-based Indu Projects for a minority stake.

Indu Projects is a leading name in the construction and real estate sector in Andhra Pradesh in which, about two years ago, Citigroup's private equity arm had invested about $50 million.Since the stock markets went into a tailspin at the beginning of the year with real estate companies among the worst hit deals in the sector have dried up. In this deal, Credit Suisse invested directly in the company, and not through a special purpose vehicle in one or more projects which is more common in this sector now, sources said.Indu Projects, an eight-year-old company, is promoted by Shyam Reddy, who was earlier associated with IVRCL Projects, also a construction and real estate major. Indu Projects is currentlyassociated with, among others, the construction of an IT park in Hyderabad, a real estate project in Pune and also with construction of a Tata Power project.

The company also executes government contracts and is planning to foray into power sector in a big way.Sources said this is among a series of investments made by Credit Suisse with the deal team comprised of industry veterans Hemang Raja, Gaurav Kumar, Nikhil Bhatia and Sameer Nair. Avendus was the investment bankers to the transaction. Real estate consultancy major Jones Lang LaSalle are the advisors to the company on its several real estate projects.Industry players said post the recent debacle in the stock market, private equity/venture capital funds evaluating real estate companies for investments are looking at firms with good management, clear land bank, and strong execution and development capabilities. But there are very few companies that make the cut, a person associated with the Credit Suisse-Indu Projects deal said........

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Gayatri Infra gets Rs 200cr funding

Australian firm AMP Capital Investors will be investing Rs 200 crore in Gayatri Infra Ventures Ltd, a fully owned subsidiary of Hyderabad-based infrastructure company Gayatri Projects Limited (GPL).

The first instalment of Rs 100 crore will give AMP a 29 per cent stake in GIVL. "We will use it to fund existing projects as well as future bids and concessions undertaken by GIVL," said Mr T.V. Sanddep Reddy, director, Gayatri Projects.

GIVL is a player in the transportation infrastructure sector and is into construction, operation and maintenance of roads, highways, bridges and tunnels. Apart from this, GIVL also wants to make downstream investments in other companies working on similar projects.

"We have already invested Rs 125 crore in GIVL," said Mr Reddy. "AMP would bring in an additional Rs 100 crore. Apart from this, we are planning to invest Rs 400 crore as equity." He added that AMP would be putting in another Rs100 crore if and when the need arose. AMP manages funds in excess of $104 billion (Australian Dollars). It will be investing in GIVL from its $750 million Asian Giants Infrastructure Fund meant for projects in India and China......

Land regularisation: deadline stays

The State government has ruled out extension of deadline for regularisation of encroachments in unassigned government lands beyond August 31.

It was earlier stretched from June 1 to August 31 and Chief Minister Y.S. Rajasekhara Reddy was firm in his stand that no further extension be granted, said D.K. Panwar, Chief Commissioner of Land Administration (CCLA).

He told a press conference here on Monday that 98,000 applications were so far received by Collectors in districts seeking regularisation of lands in pursuance of an order issued by the government in February. The order specified the new policy of the government about transfer of rights to certain categories of occupants of unassigned government lands. The cut-off date for occupation was fixed at December 31, 2003.

He expected the number of applications to go up to 1.5 lakh by August 31. Of the applications received, he said 78,705 were for regularisation of lands up to 250 sq.yds, 7,750 for lands measuring 250 to 500 sq.yds and 2,474 for lands above 500 sq.yds.

There were 67,000 applicants in Ranga Reddy and Hyderabad districts together. Ranga Reddy alone accounted for 52,074 applications seeking regularisation of 2,139 acres.
Court litigations

Mr. Panwar also said that 55 to 60 per cent of requests related to lands up to 80 sq.yds. There were no court litigations in this category of holdings as the occupants were slum dwellers or other weaker sections. There were a lot of litigations with respect to higher land holdings owing to multiple claims over the property.

The CCLA expected the process of regularisation to be completed within three months.

Urban Ceiling lands: date extended

The Government has extended the last date for regularising occupation of the Urban Ceiling lands to August 30. K. Ratna Prabha, principal secretary (Revenue) said here on Tuesday that out of the lands taken over by the Government under Urban Land (Ceiling & Regulation ) Act of 1976, an extent of 4,9312 acres had been found occupied by third parties (other than the Government and the original owners).

DLF to set up mega agri hub at Moosapet

The state government on Tuesday allotted 24.5 acres of prime land at Moosapet village in Balanagar mandal of RR district to DLF Building India Ltd on a 33-year lease for setting up an integrated mega agriculture hub. The proposed agriculture centre, near Metro Cash and Carry, would generate 20,000 jobs in agriculture-related activities, 20,000 jobs in information technology and related industries, and another 10,000 jobs in retail and service sector, apart from providing 1.5 lakh jobs indirectly by way of permanent or casual employment in trade and agriculture, support services, construction facilities and facility management. The proposed complex would have an agricultural distribution centre, farmer training facility centre, agriculture complex, poultry & dairy input centre, and output storage & marketing centre for agri products.

Maytas Infra speeds up on bagging Hyderabad metro rail project

Maytas Infra rose 3.91% to Rs 424 at 13:21 IST on BSE after a consortium of the company undertaking the development of the Hyderabad metro rail project entered into a concession agreement with the state government.

The company announced this during market hours today, 11 August 2008.

Meanwhile, the BSE Sensex was up 274.12 points, or 1.81%, to 15,441.94 on strong cues from global equities. A slide in oil prices to their lowest level in three months powered a rally in US stocks on Friday, 8 August 2008.

On BSE, 27,654 shares were traded in the counter. The scrip had an average daily volume of 12,530 shares in the past one quarter.

The stock hit a high of Rs 431.80 and a low of Rs 414.50 so far during the day. The stock had hit a 52-week high of Rs 1,144.25 on 19 November 2007 and a 52-week low of Rs 375.05 on 20 June 2008.

The mid-cap scrip had outperformed the market over the past one month till 8 August 2008, falling 8.1% compared to the Sensex’s return of 13.62%. It had also outperformed the market in the past one quarter, declining 41.04% compared to Sensex’s decline of 11.2%.

The company has an equity capital of Rs 58.85 crore. Face value per share is Rs 10.

The current price of Rs 424 discounts its Q1 June 2008 annualised EPS of Rs 13.63, by a PE multiple of 31.1.

The metro project cost as per the government of Andhra Pradesh estimate is about Rs 12,000 crore. A consortium of Maytas Infra, Nava Bharat Ventures, Italian-Thai Development Public Company and Infrastructure Leasing & Financial Services (NMII Consortium) had emerged as the lowest bidder for the project. The project has to be completed over a five and half year of development period.

Maytas Infra is a Hyderabad-based construction and infrastructure development company. Its business includes undertaking construction contracts and infrastructure development involving identifying, sourcing, developing, and operating projects in infrastructure sectors.

The company had reported a net profit of Rs 20.05 crore on sales of Rs 383.92 crore in Q1 June 2008. Figures for the corresponding previous year period were not available.

Emaar Luxury Villas In Hyderabad Flourish

Luxury villas are coming up in large numbers in the suburbs of Hyderabad. More than 25 such ventures are underway in various locations, from Shankarpalli to Shamshabad and from Medchal to Manikonda. ...Luxury villas at the 531-acre 'Boulder Hills Golf' and 'Country Club' complexes built by Emaar MFG Land Ltd are being sold at prices ranging from Rs 8 crore ...Emaar MFG, a joint venture between Dubai-based Emaar group and Delhi-based MGF Ltd, claims that the USP of the complex is the 192-acre 18-hole golf course built according to international standards...

The Property Registration in India

Property Registration in India ensures the ownership rights to the person in whose name the property is registered. The entire process of land registry or house registry can be quite a nuisance if you do not have a real estate attorney briefing you about the legal formalities and documentation procedures to be followed. You will find many private service lawyers or government attorneys who can advice you on the legal matters. One place to get info on these would be our website Indiahousing.com where we give you listings of top home registration attorneys in India and other would be the registration and attorneys directory available at the local registry and revenue office.

All kinds of property registration and firm registration in India are done at the Sub Registrars office that also holds all records of any previously registered property in India .

The exact process includes 6 steps:

Step 1: Search the Property Registration

The property location, legal ownership document, date of purchase of the title, property transfer and inheritance issues, if transferred the legal authority of the transferee, clearance certificate from urban land ceilings authorities, payment of all dues like property taxes, electricity and water bills and any previous alterations in the property registration are the points that require careful scanning. This entire process can cost up to Rs. 10,000 and take 5-7 days to complete.

Step 2: House Registration Agreement

This process takes place at the Local Stamp Duty Office and takes around 7 days to complete. The fee involved is Rs. 100.

Step 3: Preparation of Property Sale Deed

This is done by an authorized house registration attorney on behalf of the purchaser. The final deed is printed out on a green paper with stamp duty stamp affixed on it. This involves a fee of 1% of the property value and might take 7 days again.

Step 4: Final Registration

The house registry or land registry is then stamped, executed, and finally registered in the presence of seller, buyer and two witnesses at the office of the SUB Registrar of Assurances at 5% market value of the property as Stamp Duty. This process takes just 2 days to complete.

Step 5: Submission of Documents

The completed home registry is then submitted to the Reader of the Sub Registrar of Assurances for scrutiny. Then at the payment of 1% of the transaction value or Rs. 30,000 whichever is less, the documents are presented before the Sub Registrar. The seller then hands over possession of the property to the buyer. The documents are handed over to the buyer within 30 minutes of submission of the payments receipt.

Step 6: Mutation of The Title of The Property

The purchaser now has to apply to the local Municipal Authority to get the title of the concerned property mutated in his favor with all the relevant documents that your Real estate attorney would guide you about. The Municipal Authority then assigns the property value for levying property tax and then issue a letter of mutation in favor of the purchaser.

Home Loans in India, Housing Loans

Home loans in India have made people Buy Property in India in spite of the skyrocketing prices. Today, we find considerable Real Estate Investment in India, either in the field of Residential Property in India or Commercial Properties in India. Home Loans in India are disbursed by many Banks as Loan Banking is on of the most important function of the Financial Services in India. Property Dealers and Real Estate Consultants in India usually recommend that we undertake appropriate Home Loan or Mortgage Loan Counseling so that we can Buy Apartment in India at an affordable Mortgage Rate.Purchasing the home of your dreams is not an easy task. Especially when you plan to buy a home on loan. Home loan means that you buy a house on installments. In simpler terms when you want to own a home and cant afford to pay the amount in lump sum, you can pay it in monthly installments with an interest rate.
The interest rates of home loans are expected to go down even further according to analysts who foresee a cut down in the rates by the RBI in the wake of the decision taken by US Federal Reserve to cut its rates by a significant margin.

There are number of companies offer Cheap home loans at a low interest rate. You can avail loan against existing house for renovation or expansion etc. There are many nationalized banks that offer finance for affordable housing.India Housing has put together a comprehensive data to provide you with the cheapest Home Loans available in the market. We have listed all the important housing finance institutes and some of the top home finance banks providing lowest interest rates.

Modular Kitchen Designs

Modular Kitchen Designs have revolutionized the Kitchen Décor all over the world. Such vibrancy makes Kitchen vulnerable to it becoming a messy place, if care is not taken. It has been very rightly claimed that if one who can organize kitchen can organize life easily. Designs of Modular Kitchen look organized as well as offer ample storage by optimizing the available space.Modular Kitchen Designs help us assimilate aesthetics and functionality in our kitchen. It must be remembered that kitchen is that place in our Home that is meant for the most important activity i.e. cooking. Interior Designers claim that if the Kitchen Décor is not pleasant, then the entire culinary act can seem an ordeal. The merits of Modular Kitchen Designs lie in the fact that they make cooking a celebration. This is because subtle nuances of environmental psychology are taken into consideration while designing Modular Kitchens.
Creativity and design has a great role to play in beautifying the most important place of expression in our home. Kitchens allow the cook to express the culinary skills and are any gourmet's paradise. The style and elegance is achieved in Kitchen Décor within the parameters of convenience and ease. An ideal kitchen should not be just stylish, but also make cooking, grinding, frying easy. And Modular Kitchens give us that convenience and at the same time, modish features make it a great place to work.

Modular Kitchens are called so because they are made of modules that are put together to form the Kitchen Design. Modular Kitchen Cabinets are designed in a way that it suits the Size, Length and Breadth of our kitchen. In fact, as the important Kitchen Accessories like ventilators, chimneys, sink etc are inbuilt; we do not have to worry about installing them later.
Kitchen Décor and Renovation Experts opine that Modular Kitchens have countless the boons. Firstly, they are easy to dismantle and in case we have to move our residence, we can carry all the modules and modular kitchen cabinets in a box and install it our new kitchen. Secondly, as per our budget we can purchase the Modular Kitchen Cabinets and keep on adding pieces later as and when possible. Thirdly, from the cleanliness point of view, cleaning Modular Kitchens is a very easy and timesaving task. Fourthly, in case of repairs at any point, we can dismantle that particular module and have it mended.

Thus the above, mentioned are some of the beneficial features of Modular Kitchens. In fact, these days many people in India and abroad are opting for Modular Designs for their home. Since both, the husband and wife go out to work; the time that is spent in the kitchen is very less. And the urge to have a maintenance-free Kitchen can get a respite by installing modular kitchens ion our homes. Indiahousing.com offers some links that provide Modular Kitchen Designs and concepts.

Modular Kitchens in Hyderabad

Modular Kitchens in Hyderabad have been widely appreciated as are gradually replacing the traditional Kitchens. With new high-end apartments on the rise in Hyderabad, Modular Kitchens are gaining popularity. Modular Kitchens are called so because they come in modules that can be dismantled easily. They are made up of Modular Kitchen Cabinets with ample storage In Hyderabad, were IT professionals generally live in flats or in houses on rent, with limited space. That makes costly renovations out of question. These are the reasons Modular Kitchens have become popular Hyderabad. Interior Designers opine that by installing Modular Kitchens, we can optimize the available space completely. Although, the concept is of European origin, Modular Kitchens in Hyderabad are customized and designed to suit lifestyle conditions.
For instance, if you use blenders, grinders or microwaves extensively, then they can be placed at a convenient height. At the same time, to protect our Kitchen from the omnipotent dust, we can have dustproof fiber on our Modular Kitchen Cabinets. Many ultra-modern Modular Kitchens come with Shelves that can be rotated 360 degree. The Modular Carousals that display Space Management are available in Modular Furniture Showrooms in Hyderabad. The best part is that Modular Kitchens are available in various colors and patterns. All you have to do is select the color and the size, and place an order. It does not take more than two days to have that dream kitchen in your home. Modular Kitchen Designs make the entire experience of cooking elegant and hassle free. Having incorporated the elements of Ergonomics, Modular Kitchens aim to make cooking an enjoyable task. In order to make your cooking a celebration, Indiahousing.com has a comprehensive directory to offer on Modular Kitchens in Hyderabad.

Hyderabad Real Estate Market

Hyderabad is a potential real estate market with various property investment opportunities. Builders and developers in India have marked Hyderabad as a major real estate ground with some of their most ambitious residential and commercial projects drafted for the city of Pearls. The Hyderabad real estate market news gives you updates on the upcoming housing, retail or commercial projects of the various housing companies and also the builders in Hyderabad.

Being a major IT hub of India, Hyderabad is witnessing emergence of numerous integrated townships, Business Technology Parks, IT Parks , corporate office complexes, shopping and leisure zones etc. A follow up of each real estate developments is available through the real estate market news available through various media like TV, radio and now the Internet. Online Hyderabad real estate market news websites have gained much popularity owing to the popularity of Hyderabad city as a potential investment destination.

Apartments in Hyderabad

Hyderabad has a booming real estate market. The city of Hyderabad is growing by leaps and bounds and so are the apartments. This write-up provides you information about the type of apartments available in Hyderabad.

Apartments are generaly referred to as BHK which stands for Bedroom, Hall and kitchen. Besides apartments there are Bungalows, Penthouses, Row houses and Villas.

The various kinds of apartments in Hyderabad are:
1. BHK- 400 to 700 square feet
2. BHK-800 to 1300 square feet
3. BHK-900 to 3000 square feet
4. BHK-1300 to 4000 square feet

The prices of apartments in Hyderabad shot up after the software and BPO companies set up shop in the city. In many areas like the Hitec City area, apartments are going for as much as Rs.3500/Sft.

But in many parts of the city apartments rates have been fluctuating between Rs 2500 to 3200/sft. The prices of apartments are quite high in Hitec City, Banjara and Jubilee Hills areas.

The prices of apartments depend on their distance from the city centre. As compared to the prices in the main areas of the city, the prices of apartments are quite low in the outskirts of the city.

However, along Express Highway from Hitec city to Airport and at Shamshabad, property rates are quite high. Some other upcoming areas are Kompalli and Medchal.

The Shamshabad area is really a hit in the property market and many new apartments are being constructed there at a tremendous speed. Demand along the Srisailam Highway is also picking up. The government of Andhra Pradesh is also trying to get the SEZ proposals in the state cleared by the Central government, which will lead to a further escalation in the prices of apartments.

HYDERABAD REAL ESTATE

From the city of Charminar, Hyderabad has transformed itself into the new and happening IT city. Hyderabad has never had it so good as far as real estate is concerned. Hyderabad real estate prices in fact have never been this high in the last decade. This is an indication of the city's booming economy. Hyderabad has grown to be a favorite hub for investors which have not only provided quality infrastructure for property investments but have also added attractions like special economic zones, industrial parks, IT campuses, and a new international airport to its credit. With the development of a township with state-of-the-art facilities called HITEC City in Hyderabad, the place has emerged as one of best places for property investments.

Along with the increase in the number of IT companies in Hyderabad, the city is also witnessing an equivalent increase in its real estate prices. Real estate prices generally fluctuate because of three factors: the demand-supply ratio, location of the property and the opinion of the buyer. Real Estate industry in Hyderabad has fared positively on all the three counts. In the last three years, Hyderabad has seen an extraordinary demand for land. The growth of the IT industry has increased demand for both office spaces for the companies and residences for their employees. Demand for land has clearly exceeded its supply because of this. All this economic development in its industrial sector has resulted in a boom in Hyderabad real estate market for both residential and commercial space. Real Estate developers in Hyderabad are cashing on this boom. Sensing the flow of the industry a number of Real Estate Construction companies have come up in Hyderabad which resulted in development of large number of housing societies in Hyderabad, India.

Besides this, with plans for the International Airport, Fab City, Outer Ring Road and Greater Hyderabad all gradually taking concrete shape, land values in areas close to these have seen a sharp rise in prices, resulting in sudden spurt in Real Estate prices in Hyderabad. Jubilee Hills and Banjara Hills, one of the prime locations and home to celebrated personalities are the hottest areas where houses in are priced in the range of Rs 50 lakh - Rs 2.5 crore.

Some of the well-known real estate developers in Hyderabad:


Rank Team Construction Pvt. Ltd.
Jahnavi Infrastructure Pvt. Ltd.
Shathabdhi Township
Sri Sriniwasa Mansani Constructions
SRR Projects Pvt. Ltd.

Land regularisation: deadline stays

The State government has ruled out extension of deadline for regularisation of encroachments in unassigned government lands beyond August 31.

It was earlier stretched from June 1 to August 31 and Chief Minister Y.S. Rajasekhara Reddy was firm in his stand that no further extension be granted, said D.K. Panwar, Chief Commissioner of Land Administration (CCLA).

He told a press conference here on Monday that 98,000 applications were so far received by Collectors in districts seeking regularisation of lands in pursuance of an order issued by the government in February. The order specified the new policy of the government about transfer of rights to certain categories of occupants of unassigned government lands. The cut-off date for occupation was fixed at December 31, 2003.

He expected the number of applications to go up to 1.5 lakh by August 31. Of the applications received, he said 78,705 were for regularisation of lands up to 250 sq.yds, 7,750 for lands measuring 250 to 500 sq.yds and 2,474 for lands above 500 sq.yds.

There were 67,000 applicants in Ranga Reddy and Hyderabad districts together. Ranga Reddy alone accounted for 52,074 applications seeking regularisation of 2,139 acres.
Court litigations

Mr. Panwar also said that 55 to 60 per cent of requests related to lands up to 80 sq.yds. There were no court litigations in this category of holdings as the occupants were slum dwellers or other weaker sections. There were a lot of litigations with respect to higher land holdings owing to multiple claims over the property.

The CCLA expected the process of regularisation to be completed within three months.

Foreign Direct Investment(FDI) in real estates and retail and development of SEZs

Hyderabad's metamorphosis has pushed up property prices be it a commercial establishment or residential complex However, certain areas like A.S.Rao nagar, Lalaguda and Tarnaka etc in Secunderabad are reasonably priced and well within the reach of the common man. But will the overall boom in the real estate sustain? This is a question bothering many a investor and buyer. A lot of talk has been floating around the news media lately about the "bubble" theory of real estate, that is, the theory that the real estate market values have reached unsustainable levels and they will burst like a bubble. As Deepak Parekh chairman, HDFC dismisses this boom as a ‘bubble' waiting to burst. ‘‘This is not driven by people buying for self occupation,'' he says, ‘‘It's ridiculous and definitely not affordable. Nowhere in the world do property rates go up on this scale. Prices are going up everyday. It's a fraud.'' When the bubble bursts, housing prices tumble, which causes the real estate market to collapse, often followed by a recession in that area.

Most of the other metroes and even smaller cities like Manglore, Chandigarh, Mysore are witnessing a sudden spurt in real estate prices. One reason can be that few IT companies have relocated and some are in the process of shifting from metroes to smaller cities where traffic hassles, infrastructure problem and attrition rates are low.

IT outsourcing to India - Analysis of cities – a report released by Gartner Inc. predicts that by 2010, Hyderabad and Chennai will replace Bangalore and Mumbai as the favoured Indian destinations for IT outsourcing. The study has categorized and evaluated the cities into four tiers based on various factors including infrastructure, skills availability, skills retention, access, cost of living, political support and quality of life.

The report also stated that certain drivers enable these cities as favorable destinations for outsourcing. These include improving infrastructure, overall skills availability, good quality educational institutions and active political support.

Commenting on the report, Partha Iyengar, vice president, Gartner, said: "Bangalore and Mumbai will soon cease to be the default centers for offshoring. Ready availability of skilled labor force with lower attrition rates in cities like Chennai, Hyderabad and Pune will lead to companies setting up centers there instead."

Hyderabad rates almost at par with Mumbai in all factors evaluated, but has scored much higher on 'cost of life' and 'quality of living' where Mumbai has received the lowest ratings.

The improving infrastructure in Hyderabad has enabled the city to top the ratings in the infrastructure category.. It can be safely concluded that Hyderabad definitely offers good value for money to investors and end users alike.

Unlike developed countries like China and United State, the real estate sector in India has failed to garner due importance from the government. The recent budget has proved this yet again by not addressing vital issues like Foreign Direct Investment(FDI) in real estates and retail and development of SEZs. The real estate in our country which generates 30 percent of the employment in our country holds tremendous potential to boost our economy if given due importance.

The government move to replace HUDA with Hyderabad Metropolitan Development Authority (HMDA)

The government move to replace HUDA with Hyderabad Metropolitan Development Authority (HMDA) by increasing the area under its jurisdiction to 6,852 sq km with the merger of parts of five adjoining districts will further boost the growth.

Hyderabad's expansion is not just confined to western suburbs like HITEC City, Madhapur and Gachibowli, which saw tremendous activity over the last one decade,areas near the upcoming international airport, Fab City, Hardware Park and those on Warangal and Vijayawada highways are also turning into hotspots.

Riding on the wave of increasing demand for office/retail space, real estate developers and investors are increasingly seeking opportunities to extend their goodwill and existing relationships with key tenants across India. Being an industry where local practices, laws and dynamics are the route to success, these developers are increasingly partnering with local governments for development of local infrastructure, be it in the form of IT parks or residential townships or SEZs.

C Shekar Reddy, president, builders forum and promoter of CSR Real Estates, Hyderabad, affirms the obvious trend: that except for a few players, the majority of real estate people are small potatoes and as yet, simply cannot handle the rules and regulations of other states, inevitable when taking up big commercial projects.

Also, local builders find it difficult to enter other states due to their lack of brand equity and that all-important market perception called "goodwill" across India, earned in their respective state over a period of time, he observes.

Within Hyderabad , the local players are having a field day cashing on the real estate boom with apartments and townships emerging in every nook and corner of the city. Singapore city is one such venture nestled in the far-flung Ghatkesar route on the warangal highway. The newly laid four lane road leads you to this fast emerging self contained city where residents have started taking possession of their dream homes. The urge to escape from the hustle and bustle of the city life has prompted many localities and residents of other cities to relocate here. The drive in the countryside atmosphere is laced with mushrooming petrol pumps, real estate ventures and hectic construction activity that indicate the rapid development on this highway.

"It is the place to invest as the rates are still affordable by commoners. The advantages are that the city is near when compared to other stretches and it is supported by excellent transport facilities," Mr. Kamalakar points out.

The prices start from Rs. 8,000 to Rs. 7,000 per square yard on the main road at Medipally and gradually decrease as one moves ahead. At Ghatkesar, the same piece on the main road is available at Rs. 2,500 per sq yard. However, if one is willing to look at places half a km from the main road, pieces of land are available at Rs. 700 per sq yard.

Development on this route is visible all over with many ventures coming up rapidly in the areas nearby Singapore City.

There are two reasons for investing here. Prices are still affordable and are likely to shoot up given the road expansion work going on as part of the Prime Minister's Golden Quadrangular Road Project. The road has been developed till Singapore City. Assured of green space given the reserved forest area between Medipally and Nampally, the stretch is turning out to be preferred destination for employees.

Hyderabad real estate boom

Hyderabad real estate is booming and how! Hyderabad, synonymous with rich history, culture and architecture is touted as a unique place where north India meets south India both geographically and culturally. With a good infrastructure in place and a ‘heir apparent' status of the IT city tag, Hyderabad's soaring in popularity not only as a tech savy or global city as President Bush terms it, but for its unprecedented growth in the real estate sector. The fast changing skyline of Hyderabad with swanky commercial establishments and flyovers spread across the nodal areas of the city has provided the much needed face lift to Hyderabad which was once considered by many as a ‘dull place to live in'.

In the last 3-4 years, Hyderabad is striving hard to take the mantle of the global city tag from Bangalore what with t he development of a township with state-of-the-art facilities called HITEC (Hyderabad Information Technology Engineering Consultancy)City prompted several Information Technology(IT) and Information Technology Enabled Services(ITES) companies to setup operations in the city. An aggressive promotion of growth in this area has led civic boosters to call the city 'Cyberabad'. This unparalleled IT boom has sent real estate prices skyrocketing in Hyderabad. With more and more IT companies making a beeline to the Andhra Pradesh capital and the city bagging the prestigious $3-billion Fab City project, Hyderabad has started growing by leaps and bounds.

President George Bush's recent visit to the city further goes to prove that Hyderabad is the new face of globalization and modernity. Hyderabad's giant strides is not just limited to the IT sector per se. A brief visit to this city which was once home to the richest man in the world confirms the fact that it has successfully blend the old world charm and the trappings of modernization with subtle ingenuity. Better quality of life, Industry friendly government, low crime rate, quick availability of connectivity, shorter commuting distance within the city as compared to other metros has attracted investors and common man alike.

The new international airport scheduled to be ready by 2008 along with fabcity, the outer ring road with satellite townships and the proposed mass rapid transit system will usurp Hyderabad as the most sought out destination for real estate developers. “The market has never been so good” is a sentiment echoed by most of the city based investors and real estate developers. The jump in Hyderabad's real estate prices not only in and around HITEC city but in other pockets of the city like Begumpet, Malkajgiri and certain areas in Secunderabad bears witness to the fact that the overall development in the pearl city has gained momentum. The city based GVK and GMR group ascertain the role played by Hyderabad Urban Development Authority(HUDA), who were quick enough to realize the tremendous potential the real estate industry has and the impact it can have on the economy if given due importance. True to its ideals, HUDA recently succeeded in raising substantial amount by bidding the prime land near the road leading to HITEC CITY. A total of 21 bidders participated in what was described as the mother of all auctions. The Rs.50 million ($1.12 million) earnest money deposit (EMD) sought for participation in the auction was the highest in the city so far.

The GVK and GMR, which bagged the contracts for the modernisation of the Mumbai and Delhi airports, Dubai-based Emmar, Bangalore-based Prestige, the Mumbai-based Rahejas, Hyatt and Reliance were among the prominent real estate developers and corporates who participated in the bidding.

'The city has enormous potential for growth and that is why so many prominent builders and firms evinced keen interest in the bid,' said HUDA vice chairman Jayesh Ranjan. “Hyderabad is emerging as a key market in India's growth story and the land is worth the price we are paying,” said Kishore Goeti, director, investment, ICICI Venture, which has 60 percent stake in the project. Maytas and Nagarjuna Construction together hold the remaining 40 percent. Assured of several relaxations in building norms by HUDA, the consortium plans to build a five-star hotel and shopping malls on the prime land.

Greater Hyderabad Real Estate Market - 2007

* Analyzes the structure and composition of the Greater Hyderabad Real Estate Market - 2007
* Contains comprehensive data to fuel an investment opportunity
* Examines market structure and user needs

An in-depth look at the components of the Greater Hyderabad Real Estate Market prepares you for qualitative and quantitative analyses of opportunities in Hyderabad and surrounding municipalities.

Detailed charts and tables illustrate market segmentation, key developers within segments and other vital market data, while other sections of the report analyze competitive strategies of key builders/developers. A vital reference for all builders/developers, Greater Hyderabad Real Estate Market - 2007 is also an informationpacked resource for organizations considering a substantial investment in Greater Hyderabad Real Estate Market. From market structure and strategies, the report goes on to an analytical review of current market participants and their product offerings.

Special developer reports based on in-depth questionnaires/interviews with top Hyderabad Real Estate Market executives present the marketing strategies of key builders/developers who are reshaping Hyderabad Real Estate Market.

Real Estate in Hyderabad

One of the side-effects of visiting india regularly is that i got caught up in all the realestate related excitement in india. Indian cities , especially Hyderabad and Bangalore, have this boom town feel where everyone is excited to make a deal, try new things out and move up fast :)

I recently put a down payment for a house in a venture called “MapleTown” in an area called Bandlaguda. The pricing was reasonable and most of all i had faith in the realty company. Anyway, those same builders are now selling some more lands/plots near shamshabad (where the new intl airport is expected). Here is the blurb from the marketing executive - Mohammed.

This is Mohammed here from Radha Realtors Pvt. Ltd. After the stupendous success of our Housing Project MAPLE TOWN now we are Launching our new project OXY-GEN CITY at KANDUKUR on Srisailam Highway. OXY-GEN CITY is a 700 acre Integrated Township first of its kind in Hyderabad City with Independent Duplex Villas, Residential plots, 60 acre 9 hole golf course, 30 acre Cricket stadium, 20 acre International School, 33 acre theme park (Ocean Park), 20 acre Medico Tourism Project, 2 Club Houses, Helipad, Bowling alleys, Commercial Spaces, 100ft, 60ft & 40ft roads, 1.5 acre Road Junctions and Many more.

OXY-GEN CITY is located about 4 kms to MUCHERLA I.T. Park, 15 Kms from OUTER RING ROAD, FAB CITY, NANO TECH PARK & HARDWARE PARK and surrounded by SEZ’s ( Special Economic Zones) . OXY-GEN CITY accommodates about 300 King Sized Villas and 3500 Residential Plots. Each Independent Villa is Centrally air conditioned in 1200 sq.yds of land, 4300 sft of built up area with own private swimming pool. Residential Plots ranging from 500 - 1200 sq.yds. Please find the Location Map & Layout copy of OXY-GEN CITY as an attachment.

Registration rates hiked

Prices of land and apartments have increased by 10 per cent to 30 per cent following the government’s decision to raise registration charges. The new rates came into effect from August 1. This will fetch the state exchequer Rs 230 crore. The government has also formulated a plan to raise another Rs 31 crore by rectifying anomalies in the existing market values. However, builders have complained that the new rates would lead to a slowdown in the sector. The government earned only Rs 22.25 crore through registration of properties in the city and its outskirts in April-May 2008 as against the target of Rs 33 crore.

Officials felt that unless market values were revised, the government will not be able to achieve the statewide revenue target of Rs 5,050 crore this year. Last year, the target was Rs 4,800 crore but earnings fell short by Rs 1,000 crore. Registration charges are usually revised twice every year in February and August. This time, the government has not spared even under construction apartments. It also fixed different charges for commercial and residential properties in same locality. In Hyderabad, for instance, commercial and residential complexes in Banjara Hills, Jubilee Hills and Begumpet have to pay different registration charges.

In Banjara Hills, registration charges per square yard for commercial purposes were Rs 53,000, which have now been increased to Rs 60,000. For residential buildings in the same area, the charges have been raised from Rs 30,000 to Rs 32,000. In Begumpet, the registration charges increased from Rs 38,000 to Rs 45,000 per square yard and in Narayanguda, they have touched Rs 24,000 from the earlier Rs 22,000.
In Venkateshwara colony/Journalists Colony, the charges increased from Rs 30,000 to Rs 32,000 and in Qutbullapur, the charges increased from Rs 3,500 to Rs 5,000 for commercial structures. In Shamshabad, in areas far from the airport, the registration charges were increased from Rs 1,800 to Rs 2,000 for residential purposes and Rs 6,000 to Rs 7,000 for commercial purposes.

In Hyderabad, construction charges for apartments on ground floors and first and second floors were raised from Rs 540 per sq. feet to Rs 550 per sq. feet. For those above the third floor, the charges were raised from Rs 580 to Rs 600. This will be in addition to registration charges. Registration charges in suburbs which fall in Ranga Reddy limits were also raised by 15 per cent. In areas such as Kukatpally and Hitech city, the government has decided to restrict the increase to 100 per cent. Builders in the city have urged the government to roll back the increase as they will put additional burden on buyers, who are bearing the increased home loan interest rates.

“The cost of land has gone up substantially and it has also led to a subsequent hike in service tax and VAT.” Says Mr Anand Reddy, managing director of PBEL Property Development (India) Ltd, a multi-national construction firm. “The buyer of a building ends up paying more towards taxes than registration charges.” Other builders said the cumulative effect of the hike in interest rate on housing loans, service tax and VAT would drive away middle class buyers and lead to the collapse of the construction industry.
“Even financial institutions extending loans for building have begun to charge heavy interest rates,” Mr K. Ravinder Reddy, chairman and managing director of Janapriya Engineers Syndicate says.

State clears buildings on surplus farm land

The state government is planning to amend the Land Reforms (ceiling on agriculture) Act 1973 to sell land declared as agricultural surplus. An ordinance is being readied by officials in a hurry to incorporate the sales clause in the Act. Sources told this correspondent that the decision to promulgate the ordinance was taken at a high level meeting held by the Chief Minister, Dr Y.S. Rajasekhar Reddy, a few days ago.

As per section 14 of the Act, land taken over from rich landlords will be distributed to the poor on a lease basis. The ownership rights shall always rest with the government. Sources added that the sales clause was being added to benefit developers, who took up projects in Hyderabad. Outskirts in agricultural surplus land which the government had either auctioned or gave away under the joint venture mode.

"If the Act remains unchanged, it will prohibit developers from selling the property after completing the projects," said sources. On some land given away by the AP Housing Board, developers have spent about Rs 350 crore as development fee or revenue share to the government when the project is under the joint venture mode. The projects include commercial complexes, residential gated communities and Special Economic Zones. The catch is that any amendment to this Act, which is included in the ninth schedule of the Constitution of India, requires Presidential assent.

This is no place for policing

Keep searching for possible reasons and they are many. Why has real estate activity that was in full bloom, suddenly begin to wilt?

The sharp and unprecedented rise in property prices, the unexpected spiral of interest rates on home loans, scarcity of land- are all causes cited as contributing to real estate activity stagnating. There is a strange lull and developers and builders do not hesitate in adding to the cause-list the recent policies of the government, as one more cause.

The recent events that included government orders asking for handing over a slice of property to be developed to the Hyderabad Urban Development Authority (HUDA) and earmarking another bit for housing the economically weaker sections, middle-income and low income groups, were seen as villains that hit the last nail. The industry went up in arms with protests over the proviso.
Altered stipulations

However, the orders were modified few days ago and the government came out with slightly changed stipulations. Interestingly, it makes a mention of ‘having regard to the recent slump in the real estate sector’ for amending the rules. While making it mandatory for a layout development to come on a minimum of four hectares, it seeks 10 per cent open spaces to be set apart for recreation and community purposes.

The new set of GOs make a stipulation on 5 per cent of area to be given to HUDA free of cost and the condition applies only to sites located outside Greater Hyderabad Municipal Corporation limits. And now an option is also appended stating that developer can pay 1.5 times the basic value of such land to the HUDA in lieu of the condition.

On earmarking space for EWS and LIG, the modified orders comes out with an option to the developer to develop the minimum required number of these plots within 5 km radius of the site. This is, if the developer does not find it feasible to provide these spaces within the site itself. Near similar modified provisions have been added to regulations on Group Housing Projects. And servant quarters can be reckoned as EWS housing requirement in the group housing schemes. Incentives to encourage social housing mix in the projects and to augment supply of the EWS and LIG housing, the orders speak of incentives to developers. These include no fees and others charges for the EWS plots or dwelling units, only 25 per cent of them to levied for LIG plots or units and automatic conversion of land use from conservation to residential in case of the developer opting for alternative lands for EWS/LIG housing.
Easing of norms

Will these measures help the real estate industry recover quickly and get booming again? The developers however, are not very sure. While not completely excited at what they describe as ‘little bit of tinkering’ of regulations, the developers and builders want a more relaxed atmosphere to prevail for them to operate in the city and suburbs.

With conditions such as these, investors from outside would be apprehensive in bringing their money here, observed one.

Then, there are issues of construction material shortage and rise in their costs, home loan interests going up and of course the inflation factor.

Ad hoc policies end up creating unease for the industry and precious time that could have propelled it, gets lost, complains another. “Also, for some months, it was a speculation-driven market which has vanished. The real home buyers are there now,” observes Anand Reddy, Executive Director, PBEL.

Land sharks lie in wait

What can be more frustrating than investing some money on a piece of land in Hyderabad and later coming to know that the same plot is registered in the names of three others. What more, when you cannot find the owner and the mediator who egged you to get into the deal.

Hyderabadi fraudsters excel in the art of deception. But their game continues as long as the buyer is ignorant of certain facts. If any prospective buyer is careful enough, he can see through the game and protect his money.

Worried over the way in which citizens are being taken for a ride by the real estate fraudsters, the Hyderabad and Cyberabad police have been sounding alerts on the modus operandi being employed by the fraudsters in land deals.

Here is a broad classification of different methods employed to cheat the gullible in land deals:
Fake Documents:

This is one of the most common methods of cheating. There have been several cases in and around Hyderabad of fraudsters availing loans on fake documents of lands owned by others.

The typical modus operandi is that if someone is proposing to sell open plots, real estate agents collect photostat copies of documents promising that they would get customers after showing the documents.

In some cases, some of them got fake sale deeds made and mortgaged them with banks to avail huge loans. The agents would get their accomplices to impersonate the real owner, who would not be aware of the transaction. The bank authorities and the real owner would come to know the truth only after the instalments are not paid and the former land with attachment notices.

Lesson: Never hand over photostat copies of sale deeds to people of dubious character.
Double mortgage

There could be some tricky land owners who would offer reasonable prices for the plots owned by them. In some cases, before people got their euphoria of becoming owners of plots, banks representatives landed up at the site with attachment notices. Reason, before the sale the plot was mortgaged not just to one bank to two more. The seller of the plot would obviously not be found anywhere for the next two years. And even if the mediator is traced, he would be of no use.

Lesson: Verify the ownership particulars from Sub Registrar Office.
Multiple GPA

The most commonly employed methods of cheating. The land plots are sold by showing what appears to be a genuine general power of attorney.

There have been instances when people who purchased the plots went there to take up some construction activity and soon two or three persons claiming ownership would turn up.

After lengthy arguments and an imminent police intervention, they realise that the owner had given GPAs to different people before selling the plot to other three.

Lesson: Do not lose your money due to your laxity in approaching the Sub-Registrar Office about the ownership.