Month: January 2014

TMC MP’s firm buys 2 mn sq ft in Kolkata township project

In one of the biggest land deals in Kolkata, Alchemist Township India Ltd has purchased 2 million sq ft of prime residential land from the Hiland Group at the Calcutta Riverside, a satellite township development of 262 acres on the banks of the Hooghly river.

Alchemist Township India Ltd is an arm of the Alchemist Group, promoted by KD Singh, who is currently Trinamool Congress MP in the Rajya Sabha. Alchemist Township India has earmarked approximately Rs 600 crore for this project.

“Alchemist will be the only outside entity to acquire land for residential development in our project. We have found a lot of synergy with them and are satisfied that they will both contribute to and derive optimum value from this partnership,” said Sumit Dabriwala, managing director of Hiland Group.

The deal has been facilitated by Jones Lang LaSalle India, who was the transaction partner for both the companies.

Mayank Saksena, managing director-land services, Jones Lang LaSalle India said, “Calcutta Riverside is a prime township project that has a very healthy mix of market drivers, including a 25-acre IT Park, various commercial establishments, world-class physical infrastructure and advanced lifestyle features such as a golf course.” Alchemist Township India Ltd is reported to be planning to develop golf-course facing apartments and group housing in the two plots they have acquired.

In May this year, the company bought 20 acres of land from the Bengal Durgapur Aerotropolis Projects Ltd at Durgapur. According to media reports, the deal amount was around 50 crore.

Source: The Indian Express

Tata Housing buys 20 acres land in Bangalore for new projects

Tata Group realty firm Tata Housing has entered into an agreement with Alstom T&D India to buy its manufacturing unit spread across 20 acres in Bangalore for 120 crores.

“The agreement with Alstom T&D India was a part of the expansion strategy of the company,” the company said in a statement.

Tata Housing is a subsidiary of Tata Sons, which holds 99.86 per cent stake in the realty firm. It has 70 million sq ft of area under various stages of planning and execution and an additional 19 million sq ft in the pipeline.

Commenting on the agreement, Tata Housing spokesperson said, “As part of our long term strategy, we are looking at expanding our presence in the fast growing city of Bangalore.

“We are witnessing phenomenal growth in North Bangalore as its commercial and residential market is growing exponentially. With Bangalore, being credited as the 10th most favoured prop investment destination by Asia Pacific, we are planning to launch an ultra-luxury project on this land to cater to the increasing aspiration of ‘higher living’ in the city,” said the spokesperson.

Bangalore, known as the Silicon Valley of India has emerged to be one of the fastest-growing cities. The presence of IT and BPO companies in the city has created an active demand for commercial and residential properties in Bangalore. The city with good social infrastructure, close vicinity to international airport, increasing metro lines, excellent educational institutes and constantly upgrading physical infrastructure is attracting lot of investment from HNIs and NRIs.

Tata Housing has presence in Mumbai, Lonavala, Talegaon, Pune, Ahmedabad, Goa, Gurgaon, Chandigarh, Bengaluru, Chennai, Kolkata and Bhubaneswar.

The company is now in the process of expanding footprints to other parts of India across tier I and II cities. It has ventured into foreign markets such as Maldives and is actively exploring other markets, including Sri Lanka and other South Asian countries. (With PTI inputs)

Source: The Financial Express

Growth of kolkata real estate market

Since independence, the city of joy Kolkata has been growing; both in size and in terms of population. From incorporating different people to different businesses, growth has been quite consistent. But very recently the talk of the town is certainly the boom of real estate industry in Kolkata. The city is expanding like never before; and these days the buzz is high around all those skyscrapers, shopping malls, cinema hubs, multiplexes etc in and around Kolkata. Some years’ back we have seen cities like Mumbai or outskirts of Delhi and even Bangalore were growing but the hype that is happening around the real estate market in Kolkata of late, is something that has never been seen in Indian market thus far.

From those glittery malls to the newly build high-rises in various parts of Rajarhat, New Town etc places, Kolkata real estate has become such a hotshot that real estate tycoons from various parts of India are going gaga over the city now. Apart from the big commercial properties, residential properties too are in great demand. People; NRI’s, bongs who wants to come back from various parts of the globe, big celebs etc all are trying their hands in searching a soothing, serene, posh location in or around the city.

You may found it strange but truth is that Kolkata is getting bigger and better with time. And in upcoming years, it only promises more. Kolkata’s latest outskirts like; Garia, Topsia, Chinar Park or New Town etc are the new hot properties around Kolkata. Especially places like Rajarhat, New Town have emerged as the most favoured places for the big property developers. Thus now you would find high-priced and luxurious housing complexes in Shrachi Rosedale Garden or in Chinar Park etc. Spreading across a long stretch of 16 acres, Shrachi Rosedale Garden is undoubtedly one of the finest residential properties to be sought after in the city of joy in current times. These sort of residential
a actually have been able to cuddle an array of services which were not that easy to see in earlier scenario. Today if you have money and if you are willing to spend then you would virtually get hundreds of options too.

With more companies coming in and around the IT hubs like Salt Lake sector V & Rajarhjat, the future seems to be sparkling for the real estate builders for sure. Anyways, when you can find all the important amenities of life like; school, station, airport, market etc within your short reach, then no wonder to see people becoming more eager to buy these properties like ever. So you just need to pick the right one for yourself as per your choice and then it’s time to indulge yourself in luxury my friends. Come and discover Kolkata.

Source: Electron Style

Narendrapur: Realty Hotspot in South Kolkata

Kolkata is one of the best locations of India which witnessing a huge growth across all sectors, especially the real estate sector which has rapidly changed the face of Kolkata as one of the top most metropolitan cities of the country. Kolkata real estate has plunged in all parts of the city but south and south central Kolkata has observed sky rocketing price trends and it certainly is ever increasing. Rajarhat Township and Eastern Metropolitan Bypass are also experiencing good growth compared to other parts of the city. Many new parts in and around the city have emerged as new real estate hubs in Kolkata. Kolkata real estate market is swelling with huge demand and transactional activities which has been looked as great growth prospect in the city’s real estate.

Narendrapur, located near Dhalai bridge-EM bypass is one of the most sought after residential real estate destination which is developing rapidly in Kolkata. Kolkata property market is growing swiftly with noticeable price appreciation across the city. Rising demand of properties in central areas and scarcity of land parcels in these regions has shifted the real estate market of Kolkata to its fringes which has given rise to the outskirts areas like Narendrapur.

Real estate scenario

Affordable property prices are the major driving factor of Narendrapur along with smooth connectivity and decent infrastructure which helped region to establish foundation of the real estate market at Narendrapur. Although the region has great opportunities for affordable housing, it also has great appreciation for luxury residential real estate. Many projects in this locality offer premium luxury apartments and houses in the affordable price range which is much lower compared to the other prominent parts of the city. With growing real estate growth and development in the region, it has observed price appreciation of about 10 to 15 per cent in the past six months and the highest demand was observed for new supply instead of resale sector in the region. Narendrapur region has shown a huge growth in the past three years with a clear growth of about 25 per cent owing to the infrastructure developments, good connectivity and affordable prices. Numerous developers are considering the region as new realty hotspot in Kolkata as an alternative to the high value property areas in central Kolkata.

Connectivity and infrastructure

The region has great connectivity as it comes in the vicinity of Dhalai Bridge in the southern fringes of the Kolkata. It is well connected with almost all parts of the central Kolkata and other prominent locations of Kolkata. The proposed under construction metro rail have huge future connectivity prospects in the region which will boost the real estate prices of this locality to the skies. The Eastern Metropolitan Bypass Road which will connect to Baruipur will also be the best future catalyst in the region’s real estate market. The proposed developments in the region are already attracting numerous developers in the region to set up their projects offering all sorts of housing units.

Narendrapur is located approximately 20 km from Howrah Bridge station and about 15 km from Sonarpur which are the prominent destination in Kolkata. An array of commercial developments was observed in the region in the past few months. Narendrapur’s strategic location on Kolkata fringes with decent connecting has worked as catalyst in the exponential growth in the real estate of this region. Narendrapur houses some of the prominent schools, colleges, hospitals, entertainment and shopping outlets providing basic social infrastructure facilities in the region.

Factors like good connectivity, affordable prices and availability of land has led to surge in the real estate market of the city. Many developers are coming up with residential project offering range of housing units which will be ready for possession by 2014. Some of the active developers in Narendrapur are Rajwada Group, City space, Shree Ganeshaya Infraprojects Ltd., Mayfair Group and Sugam Homes etc. Alongside Narendrapur, many other new areas have recently gained momentum in the real estate market of Kolkata these regions include Naktala, EM bypass etc.

Source: Bharat Estates

The rates of the real estate property in Kolkata not very much high

Kolkata the state capital of West Bengal is one of the most favored places to live in India. Having various historical monuments, Kolkata is a city in India that stands for the city of dreams in the eastern part of India. Geographically located at the western coast of the Hugli River, Kolkata is the fifth largest post in the Country. Kolkata has been shaped well by the British and the French people in the recent centuries. Today Kolkata is known for its remarkable history and politics.

Kolkata plays a Communist Side of Politics. There is more happy people than any other city in India. This is why the city is called the City of Joy. The monuments that were developed in the British rule, are giving it a name of the City of Palaces. Today Kolkata is an Education hub, having most respectable and reputed colleges in its womb.

Kolkata is the first Indian city to have a metro rail route and is honored with as a metropolitan city. A large number of Bengali and other Indians are keen to buy a property in Kolkata as it the city that offers more employments than any other city in the state. Even if Kolkata is the state capital of one of the largest states in India, it is comparatively a lesser expensive city.

Even the rates of the real estate property in Kolkata is not very much high. Other metropolitan cities in the country do not exactly offer a buyer friendly real estate market. Specially the Northern areas of Kolkata, the real part of the state comprises of historical heritage and monuments and Multi storied old residences of the city.

And now the property tax in the city has been reduced by the mayor of the city. And this makes Kolkata a prospect destination to own a residence. A circular was issued last month regarding this news. The circular said: They are providing a separate statement showing outstanding dues or zero outstanding dues along with tax bills for 2012-13. This new settlement will reduce the harassment of taxpayers with respect to the higher AMC
There will also be an option for the Kolkata people to get a NOC (No Outstanding Certificate) by the Kolkata Municipal Department.

And now after the announcement of the CRR deduction by the RBI, home loans are expected to get cheaper. This may also boost the demand of the real estate property in Kolkata.

Kolkata being a coastal area offers a nice climate around the year. One can always find cool places to hang out in the city.

Kolkata is the second most populated city in the country. The demand of the real estate property has been radical and a quite stable. But with the launch of various residential and commercial developments at affordable rates, this demand may rise. Almost every day, companies announce their projects to be developed.

Source: Real Estate Sonepat Property in Sonepat