iPropertySolutions's blog

Today a leading newspaper carried an advertisement on their front page from a builder claiming that they are going to shed a light on the truth and are digging out the fact how the projects from another leading builder are charging Rs 5800/sqft for Plinth Area using hidden costs like Common Areas etc while they charge only Rs 2370/Sq ft for Plinth Area exclusively.

The Real Estate Times on Monday revamped its website making it more user-friendly, with addition of a wide range of features, including fast loading, advanced map search, market place, movers & shakers, new projects, commercial/residential listings, dynamic pricing trends, etc. The new-look RET website is part of the ongoing enhancements at Solution Point including 2letservice.com.

MARG Ltd; (formerly MARG Constructions Limited) announced the launch of its mega infrastructure project – “MARG Swarnabhoomi”. Strategically located off the high growth East Coast Road, MARG Swarnabhoomi is designed as global standard model city. Spread over more than 1000 acres, this city includes two notified Special Economic Zones for “Multi Services” and “Engineering sector including auto ancillaries”. Epitomizing the name Swarnabhoomi, this new land of prosperity is projected to create an economy of US$ 1 billion over the next 5 years through a self sustaining business model.

Indian real estate sector is under pressure as as lending to developers is drying up, per recent PTI release. Banks are analyzing mortgage borrowers much more closely before lending. Conditions are at their worst ever level and project financing has dried up and Banks are waiting for pre-commitments of 30-40% of developments before approving finance. There are many other concerns e.g. requirement for promoters to disclose their equity stake pledges and the possible equity holder dilution which may come about due to strict bank lending policies to real estate developers.

Lunar month of Kartika with a bright new moon marks Diwali – the festival of lights to worship Maha Lakshmi for balanced wealth. As recent financial turmoil taught many of us with wide spread panic, fear of job losses and economic downturn, our Lakshmi may now be a little tightfisted about circulating money back to the riches, snatching from the capitalists is not far away (to avoid clotting), as we hear even in US election rhetoric, to say the least. In fact, I would be happy to see few more European Secret Banks like UBS, Icelandic Banks, etc.