Rustomjee Paramount, Khar

Rustomjee Paramount, Khar

NEW DELHI: India’s eight major cities saw launch of 1.32 lakh homes during January-September 2013, up by five per cent from the year-ago period, according to global real estate consultant Cushman & Wakefield.

These eight cities — Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, NCR and Pune — had witnessed launch of 125,590 residential units during the corresponding period of 2012.

As many as 31,434 units were launched in affordable segment, while 75,529 and 24,032 homes were introduced in the middle-income and high-end segments, respectively. Nearly 1,100 luxury homes were also launched.

Read more: New home launches up by 5% in January-September: Cushman & Wakefield

Afternoon: Consumer-Friendly Real Estate Bill To Come Up In Parliament

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The government is all set to introduce a buyer friendly real estate legislation which aims the consumers and bring transparency in the sector in the Monsoon Session of Parliament.

The Monsoon Session of Parliament will begin on August 5 and the Bill, after its introduction, is likely to be reffered to the Standing Committee of Parliament for examination.

The Hindu Business Line: Curbs on property investment abroad may boost premium segment in India

Rustomjee Paramount

Rustomjee Paramount

In its bid to control the outflow of capital from the country, RBI slashed the annual cap on automatic outflows from $200,000 to $75,000 for an individual. Along with it, a ban has been imposed on overseas real estate purchases with immediate effect. (Above) A bird’s-eye-view of South Mumbai real estate.

RBI curbs on overseas property investments to protect the rupee seems to be good news for Indian real estate as capital which otherwise would have been diverted abroad will now stay in the country.

Read More: Curbs on property investment abroad may boost premium segment in India

Times Property: Housing for all – A distant dream?

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It is important to minimize costs for construction of low-income housing whilst balancing the amenities provided, while at the same time ensuring the safety and serviceability of the built structure during its lifecycle.

”For developers constructing in far-flung suburbs, the government must develop civic infrastructure and ensure better connectivity through roads and railways, as this will lead to an influx of people.” Said Abhishek Kapoor, CEO, Rustomjee Urbania.

Hindu Business Line: Bank Seek Priority Sector Tag For Loans To Affordable Home Builders

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The Reserve Bank Of India is examining a plea by banks to recognize loans given to builders/developers of affordable housing projects as priority sector lending.
Strong demand on housing will have a beneficial impact, creating demand for steel, cement and credit, at a time when the economy is on the midst of a slowdown.

Indian Express: Inclusive Housing Needs The Right Policy

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When metros are planning to bring in new thoughts for utilizing inner city space, it is necessary to move out of state-controlled projects. Marja Hoek-Smit, director, International Housing Finance Program at The Wharton School, University of Pennsylvania says the solution bring in both developers and those for whom the houses are being built into the equation.

Mid-Day: The Dollar Effect

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India offers a wide range of real estate options for various budgets, with improved quality and features of properties. Currently the larger cities like Mumbai are witnessing a slump in sales forcing the developers to offer good deals. “There is a possibility of two-fold benefits for the NRI investors – the current weakening of Indian rupee is expected to be short-lived phenomenon, and once the Rupee starts appreciating, the investor will get more dollars for the same investment in rupees. Secondly over the mid-long terms (three-five years), property prices in India will appreciate considerably, thus giving good returns to investments,” said Mr. Om Ahuja, CEO – Residential Services, Jones Lang LaSalle India.

Mumbai top property choice for Indian expats based in UAE

Rustomjee Summit at Borivali (E)

Rustomjee Summit at Borivali (E)

Mumbai has been revealed as the favourite spot for Indian expats in the UAE to buy property, despite the city’s soaring home prices, according to a new survey.

Thirty one per cent of Indians in the UAE said that Mumbai was their preferred destination for property investment in India, the results of the Indian Property Show survey released yesterday revealed. About 14,000 Indian expats in the UAE participated in the survey.

“Despite being the ‘highly unaffordable’ place, even for the upper middle income group back home, Mumbai has become a top choice for non-resident Indians [NRIs] in the UAE for investment in the real estate sector,” said Sunil Jaiswal, the chief executive of Sumansa Exhibitions, which organises the Indian Property Show, to be held in Dubai this month. Home prices in Mumbai have increased by 66 per cent over the past four years, according to a recent report by Jones Lang LaSalle.

Read more: Mumbai top property choice for Indian expats based in UAE

For information on projects by Rustomjee, please visit: www.rustomjee.com

NDTV Profit: NRI guide to property investment in India

Rustomjee Paramount

Rustomjee Paramount

NRIs have always been opportunistic in terms of investment avenues and returns. The government regularly comes up with new schemes to attract more and more investments from abroad. Real estate is one of the sectors which always grabs the attention of non-residents.

The Reserve Bank of India has also given permission to all non-residents who possess Indian passports as well as people of Indian origin to put their money in the real estate sector (residential as well as commercial property). The number of NRIs investing in real estate is increasing fast as the value of the rupee is depreciating and real estate offers better returns. A place in the homeland usually gives a sentimental support and sense of security, which is the other reason of investment in real estate by NRIs.

Read more: NRI guide to property investment in India

Magicbricks.com – The right time to buy property was yesterday: Rustomjee

Rustomjee Ozone

Rustomjee Ozone, Goregaon (W)

Rustomjee is an established name in Mumbai real estate. The city is expanding outwards and new areas are emerging as realty hotspots. Abhishek Kapoor, CEO, Rustomjee, shares his views on the city’s real estate, the challenges and prospects and the company’s projects and insight on the best property investment in Mumbai.

Some of our upcoming residential projects are Rustomjee Oriana and Rustomjee Seasons (in BKC Annex), Le Reve and Rustomjee Paramount, both in Khar (W), Rustomjee Elements and Elita (in Upper Juhu), Rustomjee Meridian, Kandivali (W), Rustomjee Summit, Borivali (E), Rustomjee Evershine Global City, Virar (W) and Rustomjee Urbania, Thane (W). On the commercial front, the two projects are Rustomjee Central Park, Andheri (E) and Sangam in Santacruz (W).

Read more: The right time to buy property was yesterday: Rustomjee