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Why Land Rate in Alibag (or Alibaug) is Sky Rocketing?

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“TIMETO INVEST IN ALIBAG (OR ALIBAUG) IS NOW” The name conjures up images of pristine, windy beaches; lush greenery; and the preferred weekend home destination of the rich and the famous. However, in In recent years, this scenic coastal town close to Mumbai has become an increasingly essential real estate investment for the rich and who’s who of Mumbai, seeking a lifestyle living. Alibag has emerged as a second-home destination for those who wish to escape Mumbai and the destination of a dream house that can build its own “Sapno Ka Mahal”. Alibag (or Alibaug) has transformed from being a hugely popular weekend getaway for day-trippers from Mumbai; to a ‘must-have’ retreat for HNIs , Industrialists and Film Stars ; and now a vacation home for middle-high income home buyers looking to invest in a leisure destination that is still relatively affordable. One of Alibag (or Alibaug)’s biggest advantages is its proximity to Mumbai – most travellers opt for the 3-hour drive from Mumbai, thoug...
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WHY VIRAT INVESTED IN BHUTANI MY POD AND SUGGESTED SACHIN INVEST TOO?

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  Bhutani MY POD to give approx. 4x return in next 3 years on strong demand and keen interest from a Co-Working MNC. Why invest in Co-working space. · The advantages of BHUTANI coworking spaces are cost efficiency, greater flexibility, and networking opportunities. The sector is seeing a dramatic surge in demand in NCR. — Praphull Chandan Jha, Founder, Epoch Indian Advisor. · Statista reports that coworking spaces are estimated to account for about 10 million square feet in 2020 compared to 1.5 million square feet in 2017. · The workplace of the future is set to disrupt the commercial real estate segment, which will provide an experience that is safe and smart,” Founder and CEO Amit Ramani. Awfis Co-working. · Many companies, depending on the nature of businesses, reduced their dependence on the utilization of office premises and resources, and started considering flexible working schedules based on rostered days of work. It allowed us to support businesses as they reconsider thei...
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Canara Bank to auction 2,000 borrower properties this week

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Canara Bank Mumbai on Wednesday said it is organizing an auction of 2,000 borrower properties in its possession on Friday. The property being auctioned includes residential flats, apartments, independent houses, industrial lands, commercial complexes, office spaces, and vacant lands. The property will be sold through an e-auction under the provisions of the Sarfaesi Act, an official statement said. Typically, a bank takes possession of a property that is kept as security while borrowing in the event of non-payment. Under the Sarfaesi Act, the bank has the ability to recover its dues by selling the securities. The properties being put up for auction are spread across cities, including Delhi, Mumbai, Kolkata, Bengaluru, and Chennai, and also other semi-urban pockets, the statement said. The statement said the bank has so far sold 1,450 properties valued at Rs 886 crore during the current financial year under provisions of the same Sarfaesi Act. Bidders can participate from anywhere and c...
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KARNATAKA GOVERNMENT PLANS NEW ASSET MONETIZATION POLICY

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The government of Karnataka has its eyes on encroached parcels of land to replenish its cash reserves. To date, the government has cleared encroachments and reclaimed land to the extent of 2.7 lakh acres. The eviction process is on for another 1.3 lakh acres of land. Due to the pressure by the legislative to provide more momentum to the process, the government is working on a policy to mop up non-tax revenue through asset monetization. 16,159 acres of land in Bengaluru Urban district alone is readily available for monetization, in the legislative assembly last week an acre of land in Bengaluru sells for roughly Rs 30 crore. Naveen Raj Singh, regional commissioner (Bengaluru division) and director of Karnataka Public Lands Corporation Limited (KPLC) said “Discussions are on to formulate guidelines for the implementation of the new asset monetization plan. A policy is expected to be announced shortly,”. At a going rate of Rs 30 crore per acre, land in Bengaluru alone is worth Rs 4.8 lakh...
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India slips to 56th rank globally basis on-year housing price growth

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India moves down to 56th rank in global home price index dipping down by 13 spots in the quarter ending report of 2020. Against its 43rd rank a year ago, India saw a decline of 3-6% year-on-year in home prices, leading to a drop in global position in Global Housing Price Index. The Global Housing Price Index tracks the movement that occurs in residential prices across 56 countries and territories worldwide using official statistics. In the 12-month percentage change for the period Q4 2019-Q4 2020. Turkey continues to lead the annual rankings with price up by 30.3%on year, followed by New Zealand at 18.6% and Slovakia at 16%. India was the weakest-performing country during the fourth quarter of 2020, with a decline of 3.6% in home prices, followed by Morocco with a drop of 3.3%. The report highlighted that 89% of countries and territories saw prices increase in 2020, with several emerging markets performing strongly, including Turkey, which leads the index for the fourth consecutive qua...
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GOA: 5 lakh sq. meter of SEZ land to be e-auctioned by GIDC

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The Goa Industrial Development Corporation finding it hard to identify a consultant to auction the land repossessed from promoters of SEZ has finally decided to try and auction off around 5 lakh sqm of industrial land at Verna through the e-auction process. The e-auction could be executed through the e-auction platform of the National Informatics Centre or public sector bank as per the proposal submitted to the state government. Also, the five-member committee which was appointed for selecting a consultant for marketing the SEZ land has now been asked to oversee the e-auction process. An official said, “The GIDC does not have its own e-auction platform. We have given the documents to see if their platforms can be designed as per the parameters required by us for the e-auction,”. For this e-auction process, NIC and two other PSU banks have already given the GIDC a presentation on how e-auction can be held. The GIDC is paying a steep monthly installment of close to Rs 4 crore to repay th...
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Rainwater harvesting made mandatory in all new buildings in Jharkhand

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  On Friday the state cabinet of Jharkhand amended the law and made it mandatory for all new buildings to install rainwater harvesting structures. The cabinet also approved a proposed amendment in the law that will enable the construction of high-rise buildings in plots that measure less than 1,000 square meters (10,000 square feet). The ministerial council also approved a proposal whereby employees of the state government can avail of post-retirement and death benefits of the new pension scheme in retrospective effect from December 1, 2004. In another important decision, the cabinet approved the appointment of the Kolkata-based National Council of Science Museums (NSCM) which will be responsible for drafting a detailed project report regarding the development of the Regional Science center Ranchi Ranchi’s Chiraundi into a Science City. For preparing this detailed project report the NSCM will be paid a sum of Rs 29.5 lakh. The cabinet also approved a proposal to revise the cost of ...
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Amazon, Flipkart lease 1.1 million sq ft warehousing space from Xander

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Two top E-commerce players in India, Amazon India, and Walmart lnc owned Flipkart has leased around 1.1 million square feet of warehousing space in Mumbai Metropolitan Region from Xander Group for a tenure of 20 years. Xander Investment Management (XIM) Singapore-based firm had contacted these warehousing facilities in December 2019 for more than Rs 300 crore in the Bhiwandi micro-market, one of the largest warehousing hub in Asia. One of the person said that “Flipkart and Amazon have separately entered into a long-term lease with Xander. The tenure of this is for a period beyond 20 years. They have individually leased an area of around 5-6 lakh sq ft each,” Flipkart has already occupied around 80% of its area and is expected to occupy the balance in the upcoming 4 months. When it comes it its counterpart Amazon it has occupied around 60% area and the balance is likely to be operationalized in April this year. Amazon spokesperson said, “At Amazon, we are committed to invest in our fulf...
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BMC collects Rs 415 crore property tax in 1 day

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BMC (Brihanmumbai Municipal Corporation) is trying hard to meet its target for collecting property tax before the end of the financial year. On Monday the BMC collected Rs 415 crore of outstanding property tax due in a single day. With this collection, the BMC’s total tax collection from property tax has reached over Rs 3500 crore. The civic body has been continuously collecting over Rs 100 crore per day right from starting of February month and in March the BMC has already collected around 1,100 crores from property tax defaulters. The municipal corporation has a total outstanding property tax of close to Rs 20,000 crore, and for this purposed the civic body has not only begun attaching the property of defaulters but has also begun auctioning properties. The civic body is facing a severe cash crunch this year owing to the Covid-19 pandemic and slew of discounts to builders and contractors. It was said by the officials that the previous target of 20,000 crore was revised due to pandemi...
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Home loan rates cut by key lender to push housing sale

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Home loan interest rate record low level as leading financiers including the State Bank of India (SBI), Housing Development Finance Corporation (HDFC), ICICI Bank, and Kotak Mahindra Bank are expected to boost the current housing sales momentum further. HDFC the countries largest private mortgage lender reduced the interest rate on its home loan to 6.75% from 6.8%. The reduction in rates was done just after the State Bank of India and Kotak Mahindra Bank announced rate cuts. Pritam Chivukula, Secretary, CREDAI-MCHI, and Co-Founder, said “The benign interest rates environment will continue for some time and it is unlikely that interest rates will fall further from the current levels. For the next few days, the buyers can swoop in on good deals on the back of rock-bottom interest rates on home loans, stamp duty relaxation, offers, and the availability of choices from good developers. We can already see that the demand for residential properties has picked up now as people are beginning t...
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SOBHA CITY

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Location - Sector 108, Gurgaon, Gurugram, Haryana, India Developer - SOBHA Group Project Type - Residential Project Offers-  Residential (Apartments / Flats) Investment  -Starting 1.5Cr* Sobha City, a 39 acres luxurious development is set in the middle of the tranquil territory of Sector 108 Gurgaon. A development where living finds a new way and starts luxury living.  SILENT FEATURES · 0.6 acres of resort-style lakelet with an island deck & toddler’s pool · 0.25 acres of Camping ground · Over an acre of dedicated party lawn · 8.5 acres of an urban park · 60m long Olympic size swimming pool · 2 oval clubhouses OVERVIEW   Towers 22    Floors 24    Units 1728   Total Project Area 39.375 acres (159.34K sq.m.)   Open Area 85 %   AMENITIES Gymnasium Swimming Pool Children's play area Club House Sports Facility 24 X 7 Security Jogging Track Power Backup Indoor Games Car Par...
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CCI projects to deliver 700 house units in April completed with SWAMIH funding

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CCI Projects Pvt Ltd a Mumbai-based real estate company residential project "Rivali Park" is among the first project in the country to have received funding for stuck projects under the government-sponsored Rs 25,000 crore SWAMIH Fund. The project was sanctioned Rs 180 crores by the fund as the last mile funding for the completion of the project that comprises six buildings spread across 7 acres. Two towers in the initial phase have already been handed over to buyers. The total land parcel is spread across 14 acres. Rohan Khatau, director, CCI Projects Pvt Ltd said, “All the six buildings are complete. The completion of the project by April will benefit around 600+ homebuyers,”. He also added, “An amount of Rs 180 crore was a conservative estimate that we arrived at together as we did not want an aggressive business plan on collection and sales. We were not too sure about cash flows and therefore a conservative estimate of Rs 180 crore was drawn up and Rs 117 crore have been...
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Institutional Investments in Indian real estate to increase by 14.6% : Reports

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According to reports by Colliers International India, Intuitional investment in Indian real estate will grow by 14.6% to Rs 396 billion in 2021 from Rs 346 billion from the last year 2020. The Intuitional investments in the year 2020 had witnessed a drop of 23% from 2019. Piyush Gupta, managing director, Capital Markets & Investment Services (India) of the company said "The investment climate in India is very buoyant with global investors’ interest in real assets getting stronger. With global interest rates at historic lows and positive net yields in India, the country has emerged among the preferred destinations for investments in real estate,". Between 2018 and 2020 time duration commercial office assets accounted for over 55% of total Indian real estate inflow and an average annual supply of 35 million sq. ft entered the top six Indian cities ie. Bengaluru, Chennai, Delhi NCR, Hyderabad, Mumbai, and Pune, with the majority being snapped up by institutional investors. E...
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