REAL ESTATE
 



A construction worker at a building site in New Delhi. The year 2006 promises to be a booming period for the realty sector with the government allowing 100 per cent foreign direct investment in the construction and development sector. Indian realtors ready for foreign ‘invasion’
With global players eyeing the Indian realty market, only professionally managed real estate firms will be able to face the competition, asserts S. Satyanarayanan


A construction worker at a building site in New Delhi. The year 2006 promises to be a booming period for the realty sector with the government allowing 100 per cent foreign direct investment in the construction and development sector. — AFP photo

S.K. JainREAL TALK
'Tier II, Tier III cities to drive realty growth’

The future in the real estate  sector belongs to the Tier II and Tier III towns with population up to 1 million as they are going to drive the growth in this sector in the next three to five years, feels Mr S.K. Jain, Managing Director of the real estate marketing network — jaaydaad.com.

GMADA: Old wine in new bottle
The course of state-driven urban development has changed forever. Since it has virtually become impossible for government agencies to acquire land for various development works, including to meet the housing needs, the consumer is now left with no choice but to approach private promoters and builders for their housing needs. Also those developing land are buying it directly from the owners..

Eco-friendly homes on rise in Bangalore
Amidst the high pollution levels which are the bane of living in any metro city, Bangalore offers a ray of hope to people who want to stay in environment-friendly homes. A small number of builders are offering eco-homes to people who care for the environment and want to live in eco-friendly homes.


An eco-friendly home that uses sun-dried solid composite bricks for the interiors
An eco-friendly home that uses sun-dried solid composite bricks for the interiors.

HUDA to tee off into prohibited zone
HUDA has decided to set up a golf club and recreational centre in the prohibited zone around the Defence Ammunition Depot in Gurgaon, says Ravi S. Singh

TAX tips
RBI nod must for NRIs under FEMA for sale/transfer of agri land

Q. I and my husband are NRIs settled in USA. We had purchased agricultural land near Kandala village which falls under Dharamagarh village in erstwhile Ropar district. This is very close to Jagatpura near Sectors 48. The 10-marla agricultural land, within 16 km periphery of Punjab and UT, was bought on 19.04.1999. Can we legally hold the land? If not, then why not? What remedial action can be taken on our part if we can’t hold the land?

Satyam forays into realty development
An artist’s sketch of the Jubilee Hills Park View and the Club House The first residential venture of Maytas Properties, which is being promoted by Satyam Computer Services, is a sell-out barely a month after it opened to public.

An artist’s sketch of the Jubilee Hills Park View and the Club House

Trident row: Farmers up in arms against Punjab Govt
The land acquired by the Trident Group in Sangherra village near Barnala. The acquisition of 376 acres of land in a “forcible manner” by the Punjab Government for Abhishek Industries Limited, known as Trident Group, in Dhaula, Fatehgarh Chhanna and Sangherra (near Barnala) has not only raised the ire of farmers of the state against the Amarinder government but also put brakes on the further acquisition of land of the farmers by the government for its dream mega projects to be set up by the big industrial houses in the state.

The land acquired by the Trident Group in Sangherra village near Barnala. — Photo by Kulbir Beera

TOWERING CHALLENGE

A drawing of a model of the tower “Phare” at the suburban Paris business district La Defense, designed by US architect Thom Mayne. The 300-m tall structure will be one of the highest buildings in Paris, rivalling the Eiffel Tower, which is 324-m tall.
A drawing of a model of the tower “Phare” at the suburban Paris business district La Defense, designed by US architect Thom Mayne. The 300-m tall structure will be one of the highest buildings in Paris, rivalling the Eiffel Tower, which is 324-m tall. — AFP Photo

Mumbai buildings set to touch the sky
A recent order by the HC has allowed unrestricted vertical growth of redevelopment projects, says
Shiv Kumar

Practice by unauthorised architects on rise
Much hue and cry is raised by voluntary social organisations as well as the media about unqualified medical practitioners or quacks playing with the health of residents, especially in rural areas, slum dwellings and other backward localities. However, one hardly sees any reports about the unauthorised persons practising as architects in practically all parts of the country.

Indians among top real estate investors in Dubai
Indians are among the top investors in the booming real estate market here, a government official said. Therefore, to tap the growing Indian interest, the Department of Tourism and Commerce Marketing (DTCM) here, in conjunction with the Dubai Properties Group will organise Dubai real estate road shows, conferences and exhibitions in India and Saudi Arabia in 2007.

Buzz on Bourses
Sobha IPO oversubscribed 108 times

Riding high on the robust response from institutional investors, initial public offer of Sobha Developers was oversubscribed 108 times on its last day of offer on Thursday.


 

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