News & Updates

Image Gallery from – NAREDCO MY HOME EXPO 2015

prop-expo-naredco-1

prop-expo-naredco-9

prop-expo-naredco-8

prop-expo-naredco-7

prop-expo-naredco-6

prop-expo-naredco-5

prop-expo-naredco-4

prop-expo-naredco-3

prop-expo-naredco-2


 Images from – NAREDCO Karnataka General meeting held on Wednesday, 10th June 2015

General-meeting1 General-meeting2 General-meeting3 General-meeting4 General-meeting5 General-meeting6 General-meeting7 General-meeting8 General-meeting9 General-meeting10 General-meeting11 General-meeting12 General-meeting13 General-meeting14 General-meeting15 General-meeting16 General-meeting17 General-meeting18 General-meeting19 General-meeting20 General-meeting21 General-meeting22 General-meeting23 General-meeting24 General-meeting25 General-meeting26 General-meeting27 General-meeting28 General-meeting29 General-meeting30


Budget 2015   –  Property Prices To Rise Marginally on Hike in Service Tax : Economic Times

Budget2015_Property-EconomicTimes


India Hosts the first meeting to develop International Property Measurement Standards (IPMS)

Dear All,

India hosts the first meeting to develop International Property Measurement Standards (IPMS)

The IPMS Standard Setting Committee met with the securities market regulator, the Securities and Exchange Board of India (SEBI), the Ministry of Housing and the National Real Estate Development Council (NAREDCO) to comment and input on the final standard on International Property Measurement Standards (IPMS) for Residential Buildings. This will help to understand the best way to implement IPMS for residential buildings in the Indian market. The IPMS Standard Setting Committee is tasked by the IPMS Coalition, which includes RICS and 61 other professional organizations, to develop a uniform approach to residential property measurement globally. In India, challenges include the country’s enormous growth expectations and how this will impact on the scarcity of residential housing, and the government’s plans to invest significantly in the residential housing market. Sachin Sandhir, Global Managing Director for Emerging Business at RICS in India, said that adopting IPMS will give confidence to global investors and boost foreign investment in Indian property which in turn benefits Indian developers. RICS promotes and enforces the highest professional qualifications and standards in the development and management of land, real estate, construction and infrastructure.

IPMS Securities and Exchange Board of India Securities and Exchange Board of India (SEBI) Naredco Naredcokarnataka National Real Estate Development Council Naredco Alumni RICS India RICS

Regards,
Dharesh


Simplification of Approval Procedure for Real Estate Projects

Dear All Naredco Karnataka Members, 11th February 2015

Simplification of Approval Procedure for Real Estate Projects: Great News
It is heartening to know that the Central Govt., under the leadership of Hon’ble Prime Minister, Shri Narendra Modi and Urban Development, Housing and Urban Poverty Alleviation Minister, Shri M Venkaiah Naidu, has recognized the delays in real estate project approval as major hurdle in attracting investments and achieving the target of housing for all by 2022 and working hard to improve business environment and curtail approval time to 30 days from 90 – 600 days, because of multiplicity of approvals and NOCs from 30 – 50 different Central and State Govt. agencies.

NAREDCO has been projecting this at various forums and Shri Navin M Raheja, Chairman, NAREDCO, in the past, has made many presentations before the Hon’ble Ministers of Urban Development, Housing and Urban Poverty Alleviation and Environment, Forests and Climate Change as also before Secretaries, Urban Development, Housing and Urban Poverty Alleviation and Environment, Forests and Climate Change suggesting frame work for online simplified procedure for real estate project clearances. This was also highlighted in NAREDCO’s Annual Convention, held on 12th & 13th September 2014, where Ministers of Urban Development, Housing and Urban Poverty Alleviation, Road Transport and Highways, Environment, Forest and Climate Change, amongst others, were present. The consensus of the Convention was that a single window project clearance mechanism is the best way to curtail time and expenditure and improve business environment in real estate sector.

NAREDCO is happy to note that Hon’ble Minister of Urban Development, Housing and Urban Poverty Alleviation has discussed this issue with Ministers of Civil Aviation and Environment, Forest and Climate Change and Secretaries of Urban Development, Housing and Urban Poverty Alleviation, Civil Aviation, Culture, Defence, Environment, Forest and Climate Change and Consumer Affairs on 10th February 2015 and impressed on them the need for curtailing the time taken in project approval to a maximum of 30 days through online mechanism and minimizing clearances.

Positive response from Ministers of Urban Development, Housing and Urban Poverty Alleviation, Civil Aviation, Environment, Forest and Climate Change, Defence, Culture and Consumer Affairs is indeed a welcome step for the real estate industry. Now, developers do not have to knock the doors of various departments of Central and State Govts. for the NOCs and waist their precious time and money. The requirements of these departments will be taken care of by the Municipalities / Development Authorities on the basis of parameters supplied by them.

Also, approved / licensed pool of architects, legal practitioners, chartered accountants will vet the documents before they are submitted by the developers and that will be treated as authentic.

NAREDCO is grateful to Hon’ble Prime Minister and Minister of Urban Development & Housing and Urban Poverty Alleviation for the interest shown by them in finalising the simplified project approval procedure for real estate sector. It will go a long way in attracting investment and improving business sentiment.

National Real Estate Development Council,
Bangalore


Karnataka Real Estate News

Karnataka may follow Amaravati model to procure land – ETRealty.com
ETRealty.comKarnataka may follow Amaravati model to procure landETRealty.comA notification has been issued for the project that was conceived in 2006-07 and was to be constructed by real estate developer the DLF, which withdrew from it two years later.Neither the government nor the BMRDA has the funds to acquire over 6,336.33 …and more »

RPP Infra Projects bags new orders from Karnataka – ETRealty.com
ETRealty.comRPP Infra Projects bags new orders from KarnatakaETRealty.comCHENNAI: RPP Infra Projects, engaged in infrastructure development, has bagged new order from Karnataka State Police Housing and Infrastructure Development Corporation, worth Rs 305 million for the construction of residential quarters. The order …

Real Estate Firm Told to Pay up Rs 25 Lakh – The New Indian Express
Real Estate Firm Told to Pay up Rs 25 LakhThe New Indian ExpressBENGALURU: A resident of J P Nagar has won a legal battle against a real estate firm after three years. The firm had sold him a site in a layout but had suppressed the fact that it was a portion of land acquired by Karnataka Industrial Area Development …and more »

Corruption rampant in district administration, says Revanna – The Hindu
Corruption rampant in district administration, says RevannaThe HinduThose involved in real estate business were being looked after very well in the present dispensation. Files related to land alienation and conversion were being cleared very quickly, he said. Further, the Department of Rural Development and Panchayat …and more »

Urban elite eager to contest ZP polls to launch political career – The Hindu
Urban elite eager to contest ZP polls to launch political careerThe HinduThe urban people involved in mining, real estate business and retired bureaucrats are planning to contest the ZP and TP elections not to serve the people, but to fulfil their selfish ends, said a Congress activist from Talaguppa village in Sagar taluk …and more »

How this school dropout rose from the footpaths to helm Rs 60-cr businesses – YourStory.com
YourStory.comHow this school dropout rose from the footpaths to helm Rs 60-cr businessesYourStory.comReal estate was also booming around this time, and Raja invested in property, making and reinvesting neat sums along the way. So you see the pattern? He wanted to make money like everyone else, but what separated him from others was that instead of …

Skywalk with escalator near Manyata Business Park – The Hindu
Skywalk with escalator near Manyata Business ParkThe Hindu… communiqué, the ground breaking for the skywalk was done in November 2015 after the design for the project was approved by various civic agencies, including BDA and BBMP. The project has been funded by the Embassy Group, a real estate developer.

Congress, BJP face off again, this time on Arunachal Pradesh – Livemint
LivemintCongress, BJP face off again, this time on Arunachal PradeshLivemintThe NDA was looking to pass long-pending legislations, including the constitutional amendment to allow the goods and service tax, the bankruptcy code and the real estate bill. Senior Congress leaders met President Pranab Mukherjee and simultaneously …and more »

Home sales might be slow, but home loan takers are aplenty – ETRealty.com
ETRealty.comHome sales might be slow, but home loan takers are aplentyETRealty.comNEW DELHI: Despite a slow real estate market over the last few years, cold consumer sentiment and high unsold inventory levels, housing finance companies say there is no dearth of home loan seekers in the market. On the contrary, the housing finance …

40% women own or have share in joint property: Survey – ETRealty.com
ETRealty.com40% women own or have share in joint property: SurveyETRealty.comThe figure went up to 89.8 per cent from 71.5 per cent in Uttarakhand, in Tripura it rose to 91.7 from 77.9, Sikkim (95.3% from 93.6%), Meghalaya (91.4 % from 90.4 %), Madhya Pradesh (82.8% from 68.5%), Karnataka (80.4% from 68.6%), Goa (93.8% from …and more »