Friday, April 18, 2008

Landlords Can Evict Shop Tenants: SC

The Supreme Court has given a judgment that changes a 50-year-old law and would help landlords evict tenants in prime commercial zones like Connaught Place, Karol Bagh, South Extension and Walled City who, in most cases, have been paying a few hundred rupees as rent for decades.

The rent law — Delhi Rent Control Act, 1958 — was a handicap for the landlord as he could seek eviction of the tenant only from residential premises, that too provided he proved this was required for his personal need.

Tough times for Indian Real Estate Companies

Subsequent to the US sub-prime crisis, Indian real estate companies have shed almost 35 per cent of their market capitalization, reports say. Most of the listed real estate companies are currently valued at a rate 65-75 per cent less than the value they were holding prior to the meltdown in the US market.

Earlier, it had been said that the developing countries of Brazil, Russia, India and China won’t be affected much of US sub-prime crisis, however things have started turning sour just a few weeks down the line.

The story does not end here. The Indian Real Estate industry is likely to be in a much difficult phase with the recent hike in Cash Reserve Ratio (CRR)…

Sunday, April 6, 2008

Hitech City in Kochi

Sobha Developers is developing--Hitech City in Kochi--its most ambitious township project, so far. The Rs 5,000 crore project covering about 450 acres is estimated to be completed in eight years time. And given that the high-tech island is aiming to be a knowledge hub, that is exactly the kind of profile they are also planning to attract. From industries, IT parks, biotech companies to hospitals, apartments, hotels and swanky malls – the hub is set on the lines of a mini-city. Those who really have deep pockets can afford an apartment that will offer them a sea-side view.

Gurgaon Real Estate: Great Plans Ahead

The biggest irony of the real estate development story in Gurgaon is the surmounting pressure on the support infrastructure of the city. However, the builders have found their way out and have started the journey of becoming self sufficient in terms of power and water. Some of the upcoming townships will now have rain harvesting plants, water treatment techniques and even the facility of 100 per cent power generation within the township itself.

Developers like DLF, Unitech and Ansal have reportedly laid plans to have power-generation plants for their townships, and more emphasis will be given on non-conventional energy resources like solar power. Great plans indeed.