With a budget of Rs 80 lakh, you get regular 1,000 sq ft apartments in many parts of south Delhi, such as in Chittaranjan Park and Kalkaji. You could get similar apartments, perhaps larger, in central Delhi areas like Rajendra Place and Karol Bagh. North Delhi areas can offer you not only these apartments, but also let you have them fully furnished for this amount. In east Delhi too, the 1,500 sq ft apartment is yours for the taking in many parts.

In most of Indirapulram, Vaishali, or Vasundhara, you will have to buy more than one property to find something that fits your budget.

This budget, however, is just right for netting some of the class A properties in the NCR. While this budget still does not cover some of the really high profile properties of Gurgaon, it is a budget that you can proudly go house hunting with.

More : expressestates.in

Delhi-based real estate firm BPTP has bagged the countrys largest land deal worth Rs 5,006 crore, beating Indias largest real estate firm DLF. Kabul Chawla-promoted BPTP won the bid for the 95-acre plot in Noidas sector 94. While BPTP and its three subsidiaries offered Rs 1.3 lakh per sq metre, DLF offered Rs 1.17 lakh per sq metre and Omaxe, Rs 80,000 per sq metre.

The fourth bidder, Ansal API, didnt meet the technical criteria. Though the deal is big in absolute terms, its not the most expensive. Last year, Wadhawan Group won the bid for a 7,107 sq metre commercial plot at the Bandra-Kurla Complex (Mumbai) at Rs 5.04 lakh per sq metre. BPTP will fund the acquisition purely through internal accruals.

Bajaj Auto may Spin-off ITS 2-wheeler finance biz

Bajaj Auto Finance may spin-off its two-wheeler financing business as a subsidiary of Bajaj Auto, following the official demerger of the groups auto and finance businesses. While Bajaj Auto MD Rajiv Bajaj was keen on retaining the two-wheeler financing portfolio within Bajaj Auto as it can use an in-house financing business to push up sales and market share, there were concerns over whether the move would take away too much from the finance company, which is younger brother Sanjeevs turf. However, the proposal has now more or less been accepted in-principle and will happen once the demerger is complete.

More : economictimes.indiatimes.com

The Delhi Consumer Commission has directed real estate major Ansal Properties and Industries Ltd to pay a flat applicant Rs 55 lakh, including Rs 30 lakh advance received by it, for denying him possession of his dream home for over a decade.

Ansal Properties and Industries Ltd has unjustifiably retained the amount of Rs 30 lakh or so for a long 10 years without having refunded the same to the complainant, Commission president Justice J D Kapoor said, holding the construction company guilty for deficiency in service.

Slapping a fine of Rs 25 lakh on the company, the Commission came down heavily on it for denying the flats possession to Satish Prasad, a south Delhi resident, on account of non-payment of conversion charges of of Rs 70,950.

More : economictimes.indiatimes.com

Indias developers will begin to lower prices after commercial capital Mumbai failed to attract bids at a land auction for the first time in 13 years, signaling a dip in property demand, Credit Suisse said.

Mumbais metropolitan authority received no bids for the sale of two of five plots at Bandra-Kurla Complex, and sold another site to the sole bidder yesterday. The citys development authority collected 13.2 billion rupees ($326 million) from the sale, 31 percent lower than the minimum 19 billion it expected.

A global equity sell-off and the subprime crisis in the U.S. have reduced investor appetite for real estate stocks and may herald an end to a four-year property rally. Prices of offices in Mumbai have risen more than three times in the past four years, according to Cushman & Wakefield Inc. data, as the economy averaged 8.6 percent annual economic growth during that time.

More : bloomberg.com

Vishal Retail set up shop in 01 as a discount retailer and focuses on tier-II and III cities. It is likely to gain from the consumption growth in India. We had recommended the stock when the company came out with its IPO, and the stock is attractively priced at current levels too.

Business:

Vishal Retail focuses on the lower middle-income group. Besides apparels, it offers a wide range of household merchandise and consumer goods like footwear, toys, watches, toiletries and grocery. To expand its offerings, the company is now experimenting with small formats. It has also opened restaurants in its stores to grab a higher share of customers wallets.

As on December 31, 07, the company had 93 retail stores across 63 cities, covering a total area of 2.1 million sq ft. The company owns apparel-manufacturing units in Gurgaon and Dehradun. It has 29 warehouses in eight key cities, spread over 1,053,066 sq ft. Vishal Retail plans to manufacture at least 25% of its requirement for apparels at its existing facilities.

More : economictimes.indiatimes.com

There is a slowdown in the sales of residential projects. But the house-hunter is still cribbing. His complaint is that the dip in sales is not reflecting in prices.

The villain heres the office-space segment. Surging prices in this segment is putting the real-estate developer under no pressure to change the pricing matrix in the residential segment.

Shailesh Kanani, research analyst, Angel Broking, acknowledges that sales in residential projects are going down.

More : sify.com

Real estate is expensive, but when a project quotes at 10 times the prevailing price for apartments, and asks at least 2 times the per sq ft rate, you have to ask the person selling this property, just what are you trying to do? The person to ask this question is Raj Singh Gehlot, CMD, Ambience Group. He started out as a chartered accountant, and became one of the first persons to initiate boutique construction in India with his project Lagoon at the Ambience Island in Gurgaon. He is at it again with Caitriona, the latest project in the Island. He spoke to Our correspondent about his projects, and the current realty market. Excerpts:

What is the target audience for Lagoon and Caitriona projects at the Ambience Island?
Gurgaon is a suburban development. It has come up very well commercially and a lot of people go there to work. It has so many industrial, IT, and ITeS units. Most of the CEOs and high officials of these units live in Delhi areas like Shanti Niketan or West End. I want to change that concept. The suburb is quite in the night after the working population has left, there is total peace here. The senior management should be able to live here and have all the amenities that they expect and are used to in their current colonies.

The people living here should also have a value for their address. The address on your envelop matters. We want to take this project to a level where the address also has a value.

More : expressestates.in

Fancy drinking freshly brewed beer under open skies? Well, how about a beer street inside a mall? With the Haryana government recently allowing setting up of micro beer brewery pubs, a first for any state in the country, the Rs 2,000-crore Rockman Group is all set to unveil the countrys first Beer Garden (actually two), in Gurgaon in the next three-four months with an investment of over Rs 100 crore.

The Rockman Group has entered into a joint venture with the Lowenbrau Buttenheim International Division (independent of InBev and Ravi Jaipuria joint venture) to set up these beer gardens which will serve fresh non-pasteurised beer.

To be spread over 6,000 sq ft (inside and mall) and 6,000 sq yards for the open area, the first two Rockman Gardens will be located in Ambience Mall, Gurgaon and Delhi-Gurgaon Expressway.

More : economictimes.indiatimes.com

Adventity BPO India Pvt Ltd., a Mumbai-based end-to-end knowledge and business process outsourcing (BPO) company, opened its seventh global delivery centre in the DLF building in Chennai. The company planned to open two more delivery centres in Chennai by this year-end.

The Union Minister for Communication and Information Technology, A. Raja, inaugurated the facility here on Saturday.

Addressing presspersons, Kumar Subramanian, Chief Executive Officer, said the centre would have an office space of 33,000 sq. ft. The company would soon be taking another 67,000 sq ft office space in the same DLF building in Chennai. It also planned to set up a centre at Old Mahabalipuram Road near Chennai. All the three centres would have a total seating capacity for 15,000 people. The company would double its headcount from 2,000 to 4,000 by the year-end in Chennai. Similarly, it also proposed to increase its staff strength from 4,000 to 8,000 across all delivery centres.

More : hindu.com

A bid worth Rs.50 billion for a single commercial plot in Noida seems to have set a new real estate record Tuesday.

BPTP, a real estate developer, shattered past records for a single bid for a commercial plot measuring 95 acres, situated in sector-94 here.

According to an official communication, the New Okhla Industrial Development Authority (NOIDA) floated auction bids for the plot in February 2008. It received four bids and March 03, 2008, the bids were assigned to a consultant to study the technical feasibility and financial viability of the bids.

More : mangalorean.com