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CHANDIGARH Real Estate

CHANDIGARH Real Estate

Chandigarh is one of the hottest destinations from all real estate perspective. It has been recently voted as the 'best city to live in' by a popular magazine. Chandigarh deserves this tag for many reasons

1. Well planned infrastructure - Chandigarh is known for its architecture, wide roads, well-spaced out lanes and ambient environment. The expansions and extensions to various sectors are always well-planned.

2. Strategic location - The city is administrative, political and cultural nerve centre for Punjab and Haryana. The city has the magnanimity of a big city but still retains the coziness of a small town. It is also the gateway to north India. It makes lot of strategic and business sense for all firms to have their outlets/offices in Chandigarh.

3. New Developments - Chandigarh is opening up to the real estate changing trends. The city had just opened Rajiv Gandhi Chandigarh Technology Park. This park, perk over an area of 111 acres, is a destination for top IT/ITES/BPO companies.

Chandigarh is known for its kothis. Traditionlly, people usually build huge, lavish, palatial houses known as kothis which are 2-3 storey tall multi-apartment structures. Now, Chandigarh is shrugging its 'uniformly-developed-city' tag to pave way for new segments like luxury homes, studio apartments and individual flats. The traditional residential sectors like 21, 22, 24 are witnessing remodeling of traditional 'kothis' into individual flats.

Also, new constructions in neighbouring areas like Panchkula, Mohali and Zirakpur are witnessing a boom in the demand for individual housing as compared to the composite 2-BHK or 3 BHK. This demand has been fuelled by the migratory population. The city's is no longer an abode of the retired army people. In fact young professionals and students from nearby areas of Punjab, Haryana, Himachal Pradesh and even Delhi flock to Chandigarh in search of better lifestyle and good infrastructure at affordable costs.

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Pune Real Estate

Pune Real Estate

 

Despite the fact that the real estate market all over is experiencing a slump, Pune real estate is going steady. While industry experts have predicted a steep decline in the real estate values, Pune seems to be confronting the forecast.

Backing the statement are the following examples. To begin with, within months of announcement of a new project by the Magarpatta Township Development and Construction Company, 5,800 apartments of 20,000 planned were fully sold out. This is in spite of the fact that the project is on the peripheries of Pune at Sinhagad Road. Same is the case with several other projects which includes the Blue Ridge Township at Hinjewadi, which has seen vigorous sales in the last few months.

Given that Pune was by no means a mainstream real estate destination it never saw a huge drop in real estate prices. The slump was there but it was for a short period of time. Reasons Pune real estate agents that there was demand but people were anticipating a fall in prices so they were waiting to buy an apartment in Pune. But on the contrary prices escalated and so the demand.

Moreover, since the IT industry drives the property demand in the city, first home sales form a major chunk of transactions happening in Pune. Inevitably, transactions as well as price escalation have been highest in the areas of Kalyani Nagar and Baner which are close by two major IT hubs in the city. Besides the IT and BPO industry, the student population continue to fuel demand for housing in Pune.

Renowned Pune real estate developers sack the view that the Pune property prices are on the move for a sharp drop. Pune real estate agents and the local industry experts don't see any recession in Pune Real Estate industry at least in the next 10 years. Pune real estate builders affirm that the demand is stable and outstripping supply.

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Sonepat

Sonepat

 

From being a "pastoral location" to "one of the most sought after areas" in Indian Real Estate, Sonepat has come a long way. The upcoming 135 km KMP Expressway is the main attraction for developers. The area between Kundli and Sonepat town falls under an industrialized zone. Atlas Cycle, Hilten Rubber, Indo Adean Fusegear, ECE, Hindustan Everest Tools and Satnam Overseas, LT Overseas (Dawat Basmati Rice), Osram, GSK's Horlicks are some well known brands that have units here.

 

Land rates have witnessed an average appreciation of almost 100 – 150 % over the last few years. Residential property rates range from Rs.10,000 to Rs15,000 per sq. yd. For apartments prices vary from Rs.1,700  to Rs.2,200 per sq. ft. Commercial properties stand at around Rs.5,000 to 7,000 per sq. ft.  

 

 

Agra

Agra

 

Agra is the city synonymous with romance, architectural grandeur and The Taj Mahal. The city now is taking a sharp turn towards the new age lifestyle with Sushant Taj City Agra spreading over 500 plus acres. The township shall also have some of the finest schools, Healthcare and shopping & entertainment facilities never seen in Agra.

Bhiwadi

Bhiwadi

 

Bhiwadi has now-a-days become a hot destination for real estate development as well as for home buyers. It is prominently located on NH-8, just beyond the border of Haryana. Big builders have come up with major projects like The Essentia, Omax City, Kajaria Greens, Cosmos Greens, Piyush City and Camellia Garden. The one time deserted area has now been converted into lush green residential and commercial lifestyle. 

 

 

Fully-Furnished 2 BHK Flats in Noida

Fully-Furnished 2 BHK Flats in Noida

 

Get the widest range for choice in all kinds of Residential and commercial properties for sale, purchase, rental or lease in the entire NCR region. 2 BHK, 3 BHK flats/ apartments in Noida, independent houses, guest houses, farmhouses, and showroom are their area of expertise.

 

SHOULD YOU PREPAY YOUR HOME LOAN?

SHOULD YOU PREPAY YOUR HOME LOAN?

 

YOU NEED TO CALCULATE THE NET COST OF A LOAN BEFORE DECIDING TO PREPAY WHEN THE RATE INCREASES,

 

The increases in home loan interest rates have upset calculations of many borrowers. Increases make a dent in the budgets of the home loan borrowers. In order to contain inflation, the Reserve Bank of India (RBI) has recently hiked the cash reserve ratio (CRR) from 8.75 to nine percent. The latest CRR hike drew out about Rs 8,500 crores from the banking system. The hike in the repot and CRR rates has led to hikes in the home loan interest rates.

  

Over the last couple of years, the interest rates on home loans have gone up by almost five percent - from seven to 12 percent. As such, the EMI installments have also gone up significantly, upsetting the budgets of people.

  

There has been a quantum jump in the number of home loan borrowers approaching banks for foreclosures and partial repayments. Many borrowers are trying to reduce the term of their loan, which have increased due to the recent interest rate hikes. These borrowers are typically the ones who have taken floating rate loans in the last 12-18 months and are now trying to make balloon payments. With interest rates on home loans rising in the last one year, consumers are now looking at other options to acquire funds for their investments.

  

Before deciding to foreclose, one needs to understand the implications - both present as well as future. It can hurt their liquidity in the short to medium terms, if they decide to foreclose their home loan accounts or make partial repayments.

  

With the increase in EMIs, many borrowers are exploring the option to pre-pay the housing loan. Before deciding whether to pre-pay or not, one should work out the net cost of the home loan. This can be done by factoring in the income tax benefit on the housing loan interest.

  

Normally, banks do not charge anything in case the loans are being repaid from one's own sources. However, in case one goes for refinancing, i.e. borrows from some other bank, then a prepayment penalty is levied.

  

The increased interest rates have put off many speculators from the real estate market. The interest rates' trend over the next few months is expected to be upwards, across the industry. On the flip side, this may actually prove beneficial for buyers as it will deter speculators from over-leveraging themselves for speculative gains.

 

                                                                                Courtesy: - ET/FT dtd: - 14th Sep 2008

READY TO MOVE IN

READY TO MOVE IN

 

THERE HAS BEEN A RISING TREND OF DEVELOPERS OFFERING FULLY FURNISHED HOMES TO ITS BUYERS, WITH ALL THE AMENITIES BEING PRESENT EVEN BEFORE THEY MOVE IN.

 

India is a developing country and with its developments, the lifestyle of its citizens is changing as well. There was a time when living in a joint family was the norm, but it's not the same anymore. Also, when someone bought a home, doing it up on your own was even more exciting then buying your home? But now times are changing. With time being a constraint for so many, today developers and builders are offering the buyer the facility to move in as soon as he purchases a home.

  

The concept of ready-to move-in homes is becoming quite popular in the city. Ready-to-move-in apartments are the new definition of luxurious living in India. These apartments or homes are fully fitted out with all the amenities required for every day living, sometimes even including the basics like furniture, which the occupant usually prefers to buy on his own and of course the modular kitchens, television and other audio-video systems, air conditioners, etc.

 

"Basically the décor is close to complete and all the occupant has to do is walk in with his personal belongings and voila - it's ready to live! To cater the burgeoning demand of the ready to-move-in homes, we have come up with a property in Noida. They are centrally air conditioned luxury apartments and penthouses with all the amenities like modular kitchen, sauna bath, steam bath, massage chairs in master bathroom, etc." explains Rohtas Goel, Chairman and Managing Director, Omaxe Ltd. The demand of such apartments and homes has only grown in the recent past and is expected to grow further in the future. These kinds of homes are particularly popular with nuclear families and even those with dual income and no kids (DINKS). Bhim Yadav, CEO of Falcon Realty Services says, "The market has been picking up over the time. These homes are gaining quite a lot of popularity amongst the nuclear families and the people from the corporate sector."

  

But how does the builder gain from it? "The developer gains a good commercial value out of these projects as the market is very receptive for such kind of projects," says Sunil Bedi, Chairman and Director, JMD Ltd. Also, from the developers point of view it takes the development capabilities of the company to the next level. They do not just bring together brick and mortar, but offer an entire style statement to the buyer which is a reflection of the developers' own perception of stylised living. The developer even gains from the profit margins that he makes from the sale of such apartments.

  

Ready-to-move-in apartments are quite popular in many areas of the National Capital Region (NCR) in Greater Noida, Gurgaon and Ghaziabad. Even colonies like Vasant Vihar and Anand Niketan where there is a large population of expatriates are witnessing an increasing number of readyto-move-in apartments. Even some places in Connaught Place and South Delhi have such ready-to-move-in homes for buyers.

  

Anshuman Magazine, the Managing Director of CB Richard Ellis says, "This might not be a trend, but it is something that is picking up because of the rise in the competition. And since everyone wants to go a step further than their competition, they are trying to give their customers much more that what they even expect. Plus, when the developers make bulk purchases, they make good profit margin while selling such apartments. But I still feel that when a person buys a home, he wants to set up his home the way he wants."

  

Even though ready-to-move-in apartments might seem that they will cost a bomb, it might not be the case. If you are looking for one, you just might find something that you are looking for. Goel says that to meet the growing demand of housing of different sections, these apartments are available in all ranges. These projects are available in different price range to suit everyone's pockets from bigger and plusher apartments to one or two bedroom apartments.

  

If you are one of those people who do not have the time to set up a home after you buy it, you now have the option of finding the best home with the best décor as well in Delhi and NCR

 

Courtesy: - ET, dtd: - 13th Sep. 2008              

 

Parsvnath launches Parsvnath City Center

Parsvnath launches Parsvnath City Center

 

Parsvnath Developers Limited (PDL), India's leading real estate company, announced the launch of Parsvnath City Center, a Commercial shopping complex, at Sonepat. The commercial shopping complex spread over an area of 16, 214 yards is strategically located in the heart of Sonepat Town, in the commercial hub and is in close vicinity to the railway station. The project is scheduled to be completed with in a short span of 30 months. "The changing life styles coupled with higher aspirations of people in the satellite towns have lead to a burgeoning demand of modern facilities of metro towns. At Parsvnath we have tried to address their needs by launching integrated township, group housing and a commercial mall. The outstanding response to our projects induced us to further add glory to the city that has shown remarkable growth in all industrial sectors. Thus we are further expanding our presence with the launch of Parsvnath City Centre," said, Mr. Pradeep Jain, Chairman, Parsvnath Developers Limited. "Sonepat is today a shining example of a bustling, modern city that has shown remarkable growth in practically all industry sectors and is blessed with lush greenery makes it an even more attractive real estate destination," Mr. Jain concluded.

 

Parsvnath City centre having 3, 70,000 sq. ft of saleable area comprises of ground plus four floors would be equipped with established and accepted brands. The project offers Shopping mall, an entertainment centre, Multiplexes and food courts equipped with acclaimed restaurants offering variety of cuisines. Currently, Parsvnath's projects in Sonepat include Parsvnath City, an integrated township having Parsvnath Preston, a group housing project and Parsvnath Mall, a commercial project.

 

                                                                 Courtesy I.R.N- 11-09-08

INDIAN REAL ESTATE PROPERTY NEWS

INDIAN REAL ESTATE PROPERTY NEWS

 

Parsvnath Developers bags redevelopment project for Mahim Bus Terminus, Mumbai

 

Mumbai, India, August  - Parsvnath Developers Ltd has announced that the Company has won another project from WEST, Mumbai to develop a plot of land at Mahim Bus Station, Mumbai for commercial and residential utilization along with remodeling of existing bus station.

 

The project would give the Company a developable area of 40,000 sq ft with a realizable value of approximately Rs 70 crore. This project is in addition to a project bagged from BEST, Mumbai for re-development into a modern bus terminus at Kurla along with modern passenger facilities and a commercial shopping complex in Mumbai.

 

The Mahim project would be on lease to the Company for a period of 60 years and would be executed within 24 to 25 months from the date of commencement of work.

Mumbai's New Corporate Destination

Mumbai's New Corporate Destination

 

As Mumbai's most expensive corporate address, the Bandra-Kurla Complex, better known as the BKC, has been making news recently, courtesy the regularity of its record-breaking property deals. With big-ticket players like ICICI, BoB, SBI, NSE and UTI making their presence felt, it is also the city's new financial nerve-centre. And this may well be just the beginning as more corporate and realty majors line up to get a piece of this prime real estate in a land-starved city.

 

Rajesh Kulkarni

I t has been more than a decade since the Maharashtra government pegged the Bandra-Kurla Complex (BKC), as Mumbai's new Central Business District (CBD), but it has taken the turn of the new millennium and the relocation of financial sectors giants like the Bank of Baroda, ICICI, National Stock Exchange, SBI, BoI, ILFS and UTI, which moved their headquarters here, for BKC to justify this title. The past year has seen this commercial hub witnessing some stupendous action on the realty front with property deals being struck at record-breaking prices.

                                                                                    Courtesy – realty plus

THE ORCHARD IN GURGAON

THE ORCHARD IN GURGAON

 

New concept of living in "THE ORCHARD", sector 71, On Golf course Sohna Link Road, Gurgaon. A Prime Location you had been waiting for to have your home, nestled in a lush green, away from pollution and on Golf Course Sohna Link Road, 20 minutes drive from International Airport and only .Well connectivity all Gurgaon addresses.

 

Note

The Basic unit price is escalation free, but subject to revision / withdrawal from time to time without notice at Company's sole discretion.

 

Prices are effective as on date.

 

Prices, terms and conditions stated herein are merely indicative with a view to acquaint the applicant and are not exhaustive.  For detailed Terms and Conditions please refer to the Buyers Agreement.

 

One covered car parking with each Apartment.

 

Stamp duty & Registration charges shall be payable along with the last installment as applicable.

 

Attractive Housing Loan options available from various financial institutions.

The company would pay penalty to its customer's @Rs.5 per sq. ft. per month for any delay in handling over the product beyond the committed period of three years from the date of execution of agreement.  Similarly, the customer would be liable to pay holding charge @Rs.5/- per sq. ft. per month, if he/she fails to take possession within 30 days (one month) from the date of issue of occupation certificate.

 Any further and detail information visit website http://www.zameen-zaidad.com 

 

 

2/3 floors available in JMD Megapolis at Gurgaoan

2/3 floors available in JMD Megapolis at Gurgaoan

 

2/3 floors available in JMD Megapolis at Gurgaoan. Colorful polished granite/marble flooring. Is a large multi-disciplinary Architectural & Engineering Consultant of International repute. Centrally air conditioned Units/other areas with year round environmental control. Sophisticated fire protection system comprising hydrants, sprinklers, automatic fire detection and alarm system.

 

Area:                               JMD, Megapolis, Gurgaoan

Transportation:              JMD, Megapolis, Gurgaoan

Type of ad:               

Type of property:

# of rooms:

# of bedrooms:

# of baths:

Basic Rate:

Amenities:               100% back-up with copper wiring distribution. Automatic fire detection and alarm system.

 

 

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2/3 floors available in JMD Megapolis at Gurgaoan

2/3 floors available in JMD Megapolis at Gurgaoan

 

2/3 floors available in JMD Megapolis at Gurgaoan. Colorful polished granite/marble flooring. Is a large multi-disciplinary Architectural & Engineering Consultant of International repute. Centrally air conditioned Units/other areas with year round environmental control. Sophisticated fire protection system comprising hydrants, sprinklers, automatic fire detection and alarm system.

 

Area:                               JMD, Megapolis, Gurgaoan

Transportation:              JMD, Megapolis, Gurgaoan

Type of ad:               

Type of property:

# of rooms:

# of bedrooms:

# of baths:

Basic Rate:

Amenities:               100% back-up with copper wiring distribution. Automatic fire detection and alarm system.

 

 

For the further information login http://http://www.zameen-zaidad.com/

*MAHARASHTRA** GOVERNEMENT OPENS DOORS TO BANKS, MFS IN MUMBAI'S IT PARKS*

*MAHARASHTRA** GOVERNEMENT OPENS DOORS TO BANKS, MFS IN MUMBAI'S IT PARKS*

 

 

 

India's hottest property market, Mumbai, could see some shakeup in the

Commercial realty space. In a significant development, the Mahrashtra

Government has decided to allow all upcoming IT parks and IT specific

buildings in the city to utilise 80 percent of the total constructed area

For financial services, besides IT and IT enabled services.

 

At present only 30 percent of the total constructed area can be given to

Financial services. In a notification issued last week, the state government

Said in order to develop Mumbai as an international financial hub and to

Generate additional employment, it has been decided that all such building

Which are eligible for additional FSI of 100 percent, can now utilise 80

 Percent of the total constructed area for financial services, apart from IT

And ITES.

 

                                                   Courtesy:- ET dtd:- 5th Sep 2008

*MUMBAI'S SURPLUS LAND TO BE DEVELOPED BY BOMBAY DYEING SAYS WADIA*

*MUMBAI'S SURPLUS LAND TO BE DEVELOPED BY BOMBAY DYEING SAYS WADIA*

 

 

 

The Rs 1,000-crore textiles-to-real estate major, Bombay Dyeing, will

develop eight lakh sq ft of property on its surplus land in Mumbai. The

company will construct a high-rise building for commercial and residential

use. "We will commence construction of a high-rise tower in two months. The

entire project will be sold off in the next 24 months," chairman Nusli Wadia

told shareholders at the company's AGM.

 

Although it would be difficult to fix a value for the upcoming project, real

Estate market sources said the company could earn a few thousand crores.

However, the value will depend on the state of the real estate market, which

Has shown signs of weakness of late.

                                                                   Courtesy:- ET dtd:- 5th Sep 2008

 

Ghaziabad – A positional advantage

Ghaziabad – A positional advantage

 

Ghaziabad, one of the satellite cities of the National Capital Region (NCR), is located in Utter Pradesh. Ghaziabad enjoys a positional advantage as it is located on the Grand Trunk road – connecting Bangladesh to Afghanistan. Moreover, its easy connectivity with the national capital and the rapidly industrializing city of Noida has given strong reasons to the local government for its development.

 

  In the last few years, the development authorities of Ghaziabad have laid special emphasis on developing the social and physical infrastructure of Ghaziabad. As a result, many companies like Coca-Cola and ITC, have set up their manufacturing units in Ghaziabad. This development has boosted the retail sector in Ghaziabad.

 

  Investment boon: Owing to the high rental and capital values of residential and commercial spaces in Delhi, investors have started directing their investments to Ghaziabad. Investors have a valid reason for doing so. Ghaziabad is not only one of the hot destinations for investments in real estate, but is also well connected to Delhi. With Metro Rail on the cards it is a very viable option for investment.

 

  Of late, Ghaziabad property market is witnessing trends that suggest that employers, residents, traders and foreign investors are finding value for their money. People are willing to buy property in Ghaziabad mainly to avoid paying much higher rates in Delhi and enjoy living away from the hustle-bustle of a metropolis and yet be in touch for functional purposes. Typically, people work in Delhi and stay in Ghaziabad.

 

  Hot localities: As Ghaziabad is part of the NCR, more and more people are attracted towards it. Localities like Vasundhara, Indirapuram, Vaishali, Shipra Suncity and Kaushambi, situates on National Highway 24, are the key areas that have been developed in recent years. These adjoining areas of Ghaziabad are witnessing tremendous growth in terms of residential property market.

 

  Kaushambi is one of the most active areas with the coming up of many townships. Offering luxury condominiums and multiplexes. The fact that Commonwealth Games will be conducted in 2010 has been able to generate a lot of action in terms of infrastructure, retail and hospitality development in and around Kaushambi.

 

  Real estate experts are of the opinion that prices of most of the prime residential properties in Indirapuram have seen a massive increase in demand in the last couple of years. Moreover, Delhi Metro Rail Corporation’s (DMRC) decision to extend the metro line to Ghaziabad has also contributed to the rise in demand in these localities. As a consequence of these developments, capital values of apartments have escalated.

 

  Prices of the properties in Ghaziabad are between Rs 2,600 and Rs 3,000 per sq ft. In Vaishali, currently a Co-operative Building Housing Society (CGHS) having 2/3/4 BHK apartments costs Rs 2,700-2,800 per sq ft whereas, it cost around Rs 2,500 per sq ft in May 2007. Prices of builder flats have dipped from Rs 3,000 in May 2007 to Rs 2,700-2,800 per sq ft. Price trends of CGHS apartments in Kaushambi and Vasundhara are almost the same as those in Vaishali. Builder flats in Kaushambi have increased from Rs 3,000 in May 2007 to Rs 3,250 per sq ft now. Real estate experts suggest that growth in Ghaziabad is anticipated to be enormous as these three cities, Delhi, Noida and Ghaziabad, are now considered as the triangle of industrialization and economic growth.

 

 

 

Residential value chart

 

     Housing Category                       Average Value in                   Average Values in

                                                    July’08 in Rs/sq ft                  May ’07 in Rs/sq ft

                        

CGHS (Co-operative Group             2700-2800                            2500

Housing Societies ) of 2/3/4/

BHK                                                 

 apartment in Vaishali

 

                                                                                                                

CGHS of 2/3/4/ BHK                        2300-3800                             3200

      apartment in Kaushambi                  

 

 

CGHS of  2/3 BHK                           2600-4300                             3000

apartment in Indirapuram                  

 

 

CGHS of 2/3/4/BHK                         2400-8000                             2750

     apartment in Vasundhara  

 

             

Builder Flats of 2/3 BHK                 2400-3200                               3000

in Vaishali                                     

 

   

Builder Flats of 2/3/4 BHK              2600-4200                                3000 

 in Kaushambi                                     

 

 

Builder Flats of 2/3 BHK                  2600-3000                               3000

 in Indirapuram                                  

 

JAYPEE GROUP PLANS OVER 1,200-ROOM HOTELS

JAYPEE GROUP PLANS OVER 1,200-ROOM HOTELS

 

Delhi-Based Jaypee Group is planning to build two hotels of over 1,200 rooms at an investment of over Rs 1,200 crore in the next two years. The hotels are a part of the group's strategy to cash in on the opportunity arising out of the Commonwealth Games and F1 Grand Prix, slated to be held in the National Capital Region in 2010.

Jaiprakash Associates ED Manoj Gaur said both hotels would be ready by the end of 2010. The group intends to build a 220-room hotel in Greater Noida, which will be ready in the first quarter of 2010. It has tied up with Six Senses Spa of Thailand to manage its spa and health club in the Greater Noida hotel. Six Senses is a resort and spa management company active in over five countries, including Thailand, Vietnam, Jordan and Spain.

The Jaypee group is also planning to build a 1,000-room hotel with Formula one championship in mind. "Spectators from across the world will come to watch the Grand Prix. We want to have the facility in place to accommodate them," says Mr Gaur. Jaypee group is developing the F1 race course in its proposed special development zone (SDZ) near Greater Noida. Taj Expressway Industrial Development Authority has allocated 2,500 acres of land to Jaypee under SDZ scheme. The SDZ scheme requires the developer to dedicate 35% of total land to a core activity, which could range from Industry, IT, institutional or Sport.

                                                                     Courtesy: - ET dtd: - 5^th Sep. 2008

 

 

 

Residential and commercial property.

  Residential and commercial property.

 

Do you own a home or commercial property that has a rather large lot compared to that of your neighbors? Does the site have an abundance of road frontage? You may be sitting on a goldmine and not even realize it. Most savvy real estate investors will dig deep into your bundle of rights and determine the highest and best use of a property before making a purchasing decision. Your property value is directly linked to those uses which are legally allowed by right, based on the zoning district in which your real estate is located.

 

How do you determine the real value of your http://www.propertycafeteria.com/main.aspx”> real estate? Contact a real estate appraiser and get an appraisal. You will want to make sure that you hire someone that can provide solid references, and if requested, a work sample to get an idea of what you can expect for your money. Most of the modern single family homes located in planned subdivisions are fairly easy to evaluate, from a highest and best use stand point. In most cases the site is already developed to its maximally productive end.

 

However, an older home located on an acre lot in a neighborhood that only requires 5,000 square feet of land to build a new home, may be sitting on several developable house lots. The value difference between a single family house on a single family house lot and a single family home situated on a site which provides excess land for additional development, can be substantial.

 

While an appraisal may tell you what the underlying zoning regulations for your neighborhood are, without a certified subdivision plan prepared by a Civil Engineer, or Certified Land Surveyor, it may be difficult for an appraiser to determine the full build-out potential of your site. The best chances you have in maximizing the value of your real estate, from an appraisal perspective, is to understand the zoning regulations which govern your http://www.propertycafeteria.com/main.aspx”>real estate, and then hire a qualified individual to inform you of your development rights. Make certain that these development rights are considered by the appraiser hired to value your property, or the broker hired to list your property for sale, otherwise you may get less than full value for your property.

 

 

 

Center shelves plan to impose 51% export floor fule on SEZs

 

Units Need To Be Only Forex Earners

 

HERE is some good news for units located in special economic zones (SEZs). The government has dropped a proposal for imposing a minimum 51 % mandatory export obligation on such units. There would be no changes in the present SEZ rules, which lay down that SEZ units need to be only net foreign exchange earners.

 

  The decision taken at a recent meeting of the empowered group of ministers (eGoM) on SEZs would come as a huge relief to investors in SEZ units, both foreign and domestic, as they would not be forced to start exporting from the first year of operations.

                                        

  “There are a number of cases, like the Nokia unit in Sriperumbudur, where investors did not export much in the first year. However, they started exporting a huge chunk of their total production subsequently. A minimum export obligation would take away this flexibility which units enjoy at the moment,” an official of the commerce department said.

 

  It was the finance ministry which has proposed that the net foreign exchange earner criteria for SEZ units –which means that each unit’s exports should be more than its imports –was not enough to ensure that substantial exports take place from the units. It said that some units could also escape by not exporting anything if their import content was low.

 

  The commerce department, however, argued that since units in SEZs get tax benefits only on the products they export, they would, on their own, want to export as much as possible. In fact, at present, more than 80% of goods produces in SEZ units are exported, the official pointed out.

 

  The proposal was debated at a number of eGoMs but no decision could be taken earlier. However, with the chairman of the Prime Minister’s Economic Advisory Council, C Rangarajan, stating earlier this year that export obligation on SEZ units was not necessary, the commerce department’s case got strengthened.

 

  “In the recent eGoM meet earlier in August, everybody agreed that it was not necessary to import an export obligation on SEZ units and the idea should be given up, “the official said.

 

  Exports from SEZ were estimated at Rs 66,638 crore in 2007-08. This was 92% higher than exports of Rs 34,615 crore from the zones in 2006-07.