Tata Avenida, Rajarhat– Kolkata’s Special Residential Property From Tata Housing

The long awaited Tata Avenida is the new residential complex launched by Tata Housing in the busy locality of Rajarhat, New Town in Kolkata.

Location Advantage

Tata Avenida was designed to provide a contemporary living with complete satisfaction for the residents of this project. It is located in the popular Rajarhat Newtown area which is filled with shopping malls, hotels and educational intuitions. The strategic location of this project is to provide all the facilities to the residents within their reach. The fast developing locality has emerged as the hub for residential and IT complexes which provides better appreciation for the properties in Tata Avenida.

Project Details

The project is developed in a vast land area of 13 acres and the details were as follows:

The project stretches to 13 acres of land with 4 phase of construction.
Tata Avenida has 4 towers offering 2 and 3 BHK apartments in varying sizes.
The 2 BHK apartment units vary in size from 1080 sq ft to 1255 sq ft of area.
The 3 BHK units measure 1500 sq ft of living space.
The cost of the apartment starts at Rs. 65 lakhs and vary according to the size of the apartments.
The possession date for the project is given as Feb 2017.
Special Amenities

The project offers all the amenities present in a luxury home such as the art gallery, festival pavilion, tea bar, cycle track, novelty store, book club, pet park, jogging track, chemist shop, vegetable store, ATM, stationery shop, cricket area, crèche, kids’ play area, laundry and many more.

The project offers spacious residential apartments with all the amenities required for a luxury living in the heart of the Newtown. The location, infrastructural development, quality building specifications and luxurious amenities will offer better returns for the property.

Source: Sulekha.com

Sentiments still riding high, though investors remain cautiously optimistic

Knight Frank India in association with the Federation of Indian Chambers of Commerce & Industry (FICCI) today released the fourth set of findings of its flagship report – the Real Estate Sentiment Index for Q3 2014 (July – September). The latest edition of the report captures the sentiments of the supply side stakeholders on the current real estate market conditions and gives a view into the near future.

– The Union Budget 2014-15 has laid considerable emphasis on the real estate sector and this has infused a positive sentiment for the future

– Although the current sentiment score merely breached the 50 mark in Q2 2014 (April – June), results for this quarter (July – September) has risen to 63 which is attributable to the stakeholders’ positive perception regarding the economy, residential sales and price appreciation compared to six months back

– The future sentiment score of the developers has surged to 73 in Q3 2014, up by 4 points from the previous quarter

The above findings of the FICCI – Knight Frank Sentiment index specifically highlight the sentiments of the supply side stakeholders which may not have a direct impact on actual transactions.

Following is a Knight Frank India view on the present market scenario with regard to the residential and office markets.

In case of residential sector, the festive season has not brought in the expected cheer to the real estate sector, with markets reporting “not so-encouraging” sales over the past two weeks. Unlike the boom years, stakeholders this year had resisted the temptation to launch new projects in the season, focusing instead on reducing the inventory that has piled up over the past few quarters. Markets like NCR and Mumbai have not even seen regular investments coming their way and seem to be waiting for the new government to execute reforms which may help improve the situation. Keeping in view the current situation we expect at least 6-8 months before actual transactions begin picking up. Though stakeholders are hopeful that this will change before the said time period, but if the current signs in the market are anything to go by, it’s still a long way ahead.

The office market on other hand, performance has been in line with our expectations with uptake happening across all regions. Relocation and consolidation of office spaces has been the major drivers of this segment with majority of the contribution coming from the outsourcing industry. Unlike the residential segment, vacancy levels within premium office buildings across prime locations have been constantly reducing with chances of a further drop in the near future.

As per our first round of survey for the FICCI-Knight Frank sentiment index during October – December 2013 sentiments were slightly negative for the office market until June 2014, in reality this sector has performed better, both in terms of new office completion and leasing volumes during the same period.

It remains to be seen if the sentiments continue to show a positive outlook in the coming quarters as we begin to experience actual economic revival and the implementation of policies.

Source: Knight frank

Commercial real estate: The perfect choice for investment

Bangalore – Investment in real estate is considered to be the best form of investment for any asset. The returns are highest and it is an asset which cannot be stolen. With this view, Indian market has always been driven to buy property more than invest in deposits, gold or any other form. The Indian mind set of investment in real estate has been inclined more towards residential due to the fact that there is an option of second home for buyers. Although most reports, experts and statistics are against this fact. Developers and experts from the sector express that commercial property as an investment motive is way better than residential.

For any investor, there are two most important things; initial cost of acquisition and return on investment. A good residential property may be lesser in pricebut is unable to yield higher returns. For instance, an average cost of a good 2 BHK unit in a good project in NCR will be around 30 – 35 lakhs and would fetch a rental of 25 – 30 thousand. Whereas, a 600 sq. ft. commercial property at a good location will cost around 40 – 50 lakhs and will provide a return of around 75 thousand monthly. This goes to show that the returns are higher in commercial properties over residential properties, even if cost is taken proportionally to the return.

M. K. Gupta, Chairman, KPDK Buildtech says “In commercial real estate it is more common for investors to pool their capital together and syndicate deals, you will also find that smaller private equity firms and finance companies are more inclined to do joint venture projects and provide the needed capital to complete the deal if the deal makes sense. So as a commercial real estate investor you have the potential to raise capital for a deal from the same traditional sources as residential real estate i.e. Traditional Financing and Hard Money, but in addition to that you can have access to capital through smaller private equity firms, hedge funds, private REITs, investment groups, etc.”.

Today, the trend of development has also started to drift a bit. As more and more buyers are interested in buying commercial property for investment, development in NCR is gaining momentum for commercial projects. Almost every region in NCR today has several commercial projects located in key places and offers various commercial spaces, some with assured returns as well. The concept of assured returns began with commercial real estate which ensures a buyer to buy and start earning. Therefore, a buyer earns before possession and also multiplies through capital appreciation with time. KushagrAnsal, Director, Ansal Housing says “There are three very prominent things with commercial real estate. One, the commercial real estate is valued differently. The income that a piece of commercial real estate produces is directly related to its usable square footage.

This isn’t always the case with residential. Secondly, commercial property helps diversify risk. For example, if you own an apartment building and you lose one of your 10 tenants, you only lose one-tenth of the income for that property, instead of the entire rent as you would if you lost a tenant in a single-family house. Finally, the cash flow is often greater with commercial real estate. The yield is often higher per square foot and on an initial investment basis than it is in residential. If you lease or rent a multi-unit commercialproperty, you have more tenants to generate income than you do with a single-family dwelling.

Source: The Economic Times

Bangalore attracts more private equity money investment

The real estate market in Bangalore attracted the maximum private equity (PE) investment in the country in the first half of 2014, beating the national capital Delhi as well as the commercial capital Mumbai, according to property consultancy firm Cushman & Wakefield.

Led by high demand for office spaces as well as steady demand for residential property, the city’s real estate market saw PE investments jump nearly 20 times yearon-year to Rs 2,005 crore. The city had received PE investments worth Rs 103 crore in the first six months of 2013.

While Mumbai received investments worth Rs 1,140 crore, Delhi-NCR got Rs 490 crore and Chennai Rs 200 crore during the same period. “Availability of investible leased office assets and stable yields kept the interest levels high,” said Sanjay Dutt, executive managing director, South Asia, at Cushman & Wakefield.

“The share in overall PE investments is expected to remain significant in the coming years for Bangalore,” he said, adding “Most of these assets have high occupancy rate and provide stable yields of approximately 9 per cent, making them highly attractive to investors.” Piramal Fund Management has just concluded a non-convertible debenture of Rs 100 crore with Century Real Estate Holdings against two projects in Bangalore. The deal was preceded by Tata Capital investing Rs 470 crore for about 15 per cent stake and a board seat in Shriram Properties and Vaswani Group raising Rs 100 crore from J P Morgan.

“It is easier to underwrite projects as the ticket size is reasonable in Bangalore,” said Khushru Jijina, managing director at Piramal Fund Management. “We close almost one or two transaction every month but there is reverse challenge of velocity that one has to be careful about.” Piramal Fund is looking to invest Rs 300-400 crore per deal in Bangalore compared with Rs 100 crore earlier.

Red Fort Capital is targeting midincome projects between Rs 60 lakh and Rs 4 core in Bangalore.

“While Mumbai and NCR is a high value and margin market, Bangalore is the most stable with demand driven by end users. The churn in capital is also faster as compared to other markets,” said Jasmeet Chhabra, managing director, Red Fort Capital.

Other funds looking for transaction opportunities in Bangalore include Milestone Capital Advisors, Motilal Oswal Private Equity, Xander, Shapoorji Pallonji and Blackstone. “We will invest 30-40 per cent of our total fund outlay in Bangalore market and are evaluating multiple transaction for our new Rs 500-crore fund that will be launched in coming months,” said Navin Kumar, ED, fund raising & investor relations, at Milestone Capital Advisors.
Source: The Economic Times

Latest Real Estate Projects in Kolkata

Uniworld at New Town, Rajarhat spans 100 acres and is expected to be completed by 2010-11. 3 phases of the project have already been launched.

The South City Pinnacle in Salt Lake the other very good option as NRI Commercial Projects serves the growing demand for office space and is equipped with a food court and a gymnasium supported by a multi-level parking facility.

The PS Group has a string of commercial and residential properties under planning and construction in Kolkata, offering the latest comforts in living.

Genexx Valley on Diamond Harbour Road promoted by Paharpur Cooling Towers is one of the large townships coming up in the city, the rates of which have appreciated by almost 75 % in a year’s time. 2000 flats in 33 blocks on 20 acres will enjoy several firsts in community living, with a library, open air amphitheatre, crèche, twin swimming pools, boating facilities and community halls of different capacities within the complex.

Source: NRI Reality News