Gurgaon Property News, Gurgaon Apartments, Dlf Gurgaon Builders

The property market is like no other in one, unique way – most people buy second-hand. For example, there are over 4.5 million Victorian and Edwardian properties in the UK, many of which can claim dozens of owners over the past 160 years. And they remain popular despite the downturn – 150,000 will be bought and sold this year alone.

And the rest of Britain’s 21 million second-hand homes hail from the many other property booms Britain has witnessed including medieval, Georgian, Elizabethan and more recently during the 50s, 60s and 70s.

So given our love of ‘period homes’ why do 100,000-plus people a year choose to buy a new home? Research by the New Homes Marketing Board, to tie in with New Homes Month 2010 during September, has tried to find out why.

The main reason is that – the research says – many buyers love a home that’s untouched by other people’s designs, lifestyle or dirt – so ‘untouched, new and fresh’.

Next, buyers also feel that new homes are priced to sell and so negotiation the final price is easier and there are more deals available, including moving-in incentives such as ‘stamp duty paid’.

But as green concerns heighten among homeowners, a new property’s energy efficiency when compared to older homes is also becoming a selling point – something that, ten years ago, was mentioned less in new homes brochures.

One surprising attraction of new builds is that they come with factory-fresh kitchens and bathrooms, rooms that buyers of older homes often have to redecorate after they’ve moved in.

“The economic downturn has brought new home prices in line with the second-hand market, so there is not even a ‘brand new’ premium any more – despite the fact that new homes are packed with lots more extra features than most older ones,” says David Pretty of the New Homes Marketing Board.source-http://www.findaproperty.com/displaystory.aspx?edid=00&salerent=0&storyid=23631

With the ‘bribe-for-loan’ scam casting a shadow over builders’ access to bank lending, real estate funds and private equity (PE) players now sense a business opportunity.

They are actively scouting the deal street for bargains, hoping that the loan scam will put more equity transactions on the table and prompt “realistic” valuations in deal signing. Real estate private equity fund Red Fort Capital says it plans to be aggressive and step up investment activities in India, as more and more developers eye the PE route for funding projects in coming months.

Another realty fund, Fire Capital, is rolling up its sleeves to deploy nearly $100 million into the real estate market, and expects to snap up 5-10 deals in the next one year.

“The main sources of capital for real estate industry are bank funding and capital markets. With those two options now seen slowing down, it is inevitable that they will look more towards PE for funding,” Mr Subhash Bedi, Managing Director of Red Fort Capital, said. “We are known to be bullish on the real estate sector.

So as a result, when others become more cautious , we get more aggressive in funding. In this market, we are stepping up our investment activities,” Mr Bedi pointed out.

Fire Capital Fund CEO, Mr O.M. Chaudhary, also agrees that bank loan scam will tip the scale in favour of private equity deals. “From a PE standpoint, it means more deals will come our way than before,” he said.

A senior official of a dedicated real estate fund, who did not wish to be named, felt that the scam-triggered scrutiny of loan disbursements would turn valuations “more realistic” in the sector, and allow PE players to drive a harder bargain.

But Mr Chaudhary opines that despite the bargaining power, he would be careful not to push for terms that are unsustainable. “We do not want to negotiate deals which do not give builders a chance to do well. Also we would not like to do too many deals as the execution can then become a challenge,” he added.

However, Mr Abhijeet Bhalla, Managing Director with Millennium Spire Asset Management, adds a word of caution. “While it is true that any liquidity pressure in the market will throw up more opportunities for PE, it may be just too early to comment on how much of it will materialise into actual funding,” he points out.http://www.indianrealtynews.com/real-estate-india/loan-scam-may-encourage-pe-funding-in-real-estate.html

When I finally arrive at the home, I want to have completed all of my work ahead of time. I want to walk in the door fully prepared with the expectation of success. My belief is you establish a flow to your actual presentation and stick with it. Don’t change the structure or allow your client to do so.

If they want to talk about something out of order, ask them politely if you could go over that later in a certain segment of the presentation where you normally address that concern. You are trying to deflect the objections to later (or never) and keep your rhythm and flow of the presentation.

Many of you are reading this and saying, “I don’t want to operate that way. I don’t feel comfortable doing a ‘canned’ presentation.” I am not talking about a “canned” presentation but a planned presentation. The first segment must be to inform the client of the timeframe this presentation will take. Just employing this one technique will shorten your over-an-hour-presentation to forty-five minutes. If they know you will take forty-five minutes, that’s what it will take.

Then move to reviewing the qualifying questions. Remember to ask both decision makers if they both agree with your notes from the other day when you qualified them. This technique clarifies the goals and objectives and builds trust because you cared enough to ask, record their responses, and make certain that you got it right. You are also engaging the person who didn’t get a change to talk with you earlier. They are 50% of the decision as well!

Once you confirm the questions and understand their needs and expectations, you are ready for the crucial stage of the presentation. You are going to share with them why they should hire you. This segment, for most agents, drones on much too long. All we need to do is have about four to six key benefits of why someone should hire us. The ones you select to give them should align with what they said they expect from you in the qualifying questions stage. Remember, they told you exactly how to sell them.source- http://realtytimes.com/rtpages/20101203_structure.htm

Residential project in Mohali, a real estate arm of Godrej Group , on Thursday said it would develop a residential housing project at Mohali in Punjab, which could involve a capital outlay of Rs 450 crore. Besides, the company would also focus on several cities, including NCR , Mumbai , Bangalore , Pune, Chennai and Chandigarh for developing a slew of residential projects in line with its plans to cash in on the growing demand for housing from urban sector.

“We are looking to develop a residential project in Mohali with a minimum land of 20-25 acres…we are in talks with certain land owners here for (entering into a) joint venture in this project,” the company’s MD Milind Korde told reporters here today. Though investment is not a constraint for the company for the upcoming project at Mohali, yet the estimated capital outlay in this project may be around Rs 450 crore, including the land cost, he said.

GPL is already in the process of developing its first Rs 400 crore commercial project in Chandigarh, which will be spread over 4.04 acres with a development size of 6.80 lakh square feet. “This project is going to complete by September next year,” he said. Company’s focus towards growing real estate sector of northern region could also be gauged that it has set up a 3,500 square feet office here which will take care of its projects in northern region.

GPL, having presence in 11 cities across country, is developing 83 million square feet of area which would be done in a span of next 8 to 10 years. “After a gap of three years, we will develop 10 million square feet of area each year,” he said. Godrej Properties is also keen on redevelopment of real estate projects particularly in Mumbai.

“We will go into redevelopment of areas like old buildings, cooperatives society houses and slum area in Mumbai,” he said. The company’s other projects are in Gujarat, Managalore, Kochi, Chennai, Gurgaon, Pune, Bangalore, Hyderabad. Source- http://www.indianrealtynews.com/real-estate-india/godrej-properties-to-develop-residential-project-at-mohali.html

The Gurgaon Real Estate Report provides industry professionals and strategists, corporate analysts, real estate associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on India’s Real Estate industry.

Of all the countries whose real estate sectors are reviewed by BMI, few are experiencing economic conditions quite as promising for real estate companies as gurgaon,noida,India. Thanks in part to a favourable monsoon, economic growth is accelerating. Lending by banks is increasing. Investment in infrastructure will, or at least should, facilitate urban development.

BMI interviewed in-country sources at the beginning of 2010 and again in the middle of the year. In early 2010 in spite of widespread optimism about the prospects for 2011-2012 it was clear that India’s developers faced difficulties. Across the five cities where they interviewed in-country sources Mumbai, Gurgaon, Chennai, Hyderabad and Bangalore rentals slumped in 2009. In some cases this was because of the perceived risk of a recession in India (or, in the case of Bangalore, a real recession in the export markets served by businesses in that city). In other cases, contradictory government policies posed additional problems.

With real estate and financial services stocks battered on Dalal Street, several companies have been forced to review their capital-raising plans. At least one public sector bank, which was working on sale of shares to institutional investors, has put its plans on hold till sentiment improves.

But the worst hit would be real estate players, several of whom had lined up initial public offers (IPOs). The list included Emaar MGF, which had deferred its issue earlier, Embassy Projects and Lavasa Corp that has also received a showcause notice from the environment ministry. Raheja Universal, BPTP, Ambience, Lodha Developers and Kumar Universal were also planning share sales.

“The current controversy has adversely affected investor sentiment for certain sectors and until things settle down, investors are likely to be cautious,” said Pratik Gupta, head of equities at Deutsche Bank. JP Morgan India investment banking head Rohit Chatterjee said in the short term, investors are likely to stay away from finance and realty stocks. Drugmaker Claris Lifesciences, which was in the market to raise Rs 300 crore, had to lower the price band to Rs 228-235 from the earlier Rs 278-293 in view of the choppy markets. Poor response also forced the company to extend the issue closing date, originally scheduled to end on Friday, to December 2.

Investor worry was in evidence on Friday with the BSE Sensex closing 184 points down at 19,136, led by a 4.68% decline in real estate stocks. This is the lowest closing level in 11 weeks. During the day, the Sensex dropped below the 19,000-mark as investors were worried about the future of the sector and tightening of lending to realty companies.

The fall was led by Unitech, which is also under the lens in the 2G telecom scam, declining by 4.8%, while DLF, the country’s largest real estate developer, recouped most of the losses and closed 1.7% down. Shares of Hindustan Construction, the promoter of Lavasa, crashed 19%.

In the afternoon, financial services secretary R Gopalan tried to play down the fears saying there was no directive to cut down lending. During the week, the Sensex declined by 2.3% with the loan probe by CBI affecting sentiment since Wednesday. Among the financial services companies under the CBI scanner, LIC Housing Finance closed 12% lower at Rs 931.15, while Central Bank dropped 10% to close at Rs 188.40. Investment bankers said the overall India story remained intact but appetite for real estate and banking stocks had taken a hit. This was apparent in the widening of spreads on credit default swaps for Indian stocks seeing the biggest jump since June. An increase in the spreads indicates that global investors are worried about the prospects of Indian stocks.

“Overseas institutional investors are very worried. There main fear is about the possibility of more murkiness in the real estate sector,” a senior executive at a leading foreign bank said. Bankers said the inability of developers to tap the stock market could affect them severely as banks are expected to tighten flow of loans to the sector.

Even before the scandal broke out, RBI had tightened norms for lending to the sector fearing that a bubble was building up. “There may be some cash flow problems for some of the companies in the short term given that IPOs are tough and banks are tightening lending norms,” said a banker.source-http://www.indianrealtynews.com/real-estate-india/real-estate-companies-reconsider-capital-raising-plans.html