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New Delhi, March 30, 2017: Staycity Aparthotels’ Marseille and Lyon properties have together achieved high occupancy figures and exceeded budget expectations in their first month of trading.

“We are delighted with the response we’ve had to both Lyon and Marseille,” said Staycity CEO Tom Walsh. “The early success of both these properties reinforces our commitment to further expansion in France and demonstrates the growing demand for aparthotels from both leisure and business travellers,” he added.

The 108-apartment Staycity Centre Vieux Port opened at the beginning of February in Marseille’s popular old port area, just a minute’s walk from Colbert Hotel de Region Metro. The property will see occupancy for March reach over 80% with forward bookings for April expected to exceed this.

Staycity Lyon Rue Garibaldi, the 144-apartment purpose-built building that opened in early March, is also likely to be ahead of budget expectations in its first few weeks of trading. Staycity Lyon offers both studios and one-bed apartments in the Lyon 7 district, within walking distance of the city’s historic old centre and 10-minutes from the main business hub and train station.

Staycity already operates a property in the popular 10th district of Paris, minutes from the Gare de L’Est transport hub, and is expected to add further properties in France over the next 18 months.

The company has over 3,000 apartments across 10 European cities including Birmingham, Dublin, Birmingham, York, Edinburgh and London. Later this year Staycity will open in Manchester as well as unveiling its new premium brand at The Strand in London.

Staycity Aparthotels intends to expand to 15,000 apartments by 2022, reinforcing its position as one of the leading aparthotel operators. Earlier this month Markus Beike was appointed as development director for Germany & CEE, with a focus on expanding the brand in Germany, Austria and Eastern Europe. www.staycity.com.

Corporate Comm India(CCI Newswire)

 
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Mumbai, March 30, 2017: The latest trends in housing demographics continue to increase demand for homes in the affordable housing sector. By 2022, demand for an additional 90 million housing units is predicted.Urbanization, population growth and decreasing average household sizes represent the main forces behind the growing demand, with the real estate sector predicted to increase by 11.2% per year till 2020.

Government interventions are now encouraging the supply of housing in the affordable market segment through the Pradhan MantriAwasYojna (PMAY) scheme, which provides a subsidy of Rs. 2.4 lacs to home buyers purchasing residences below 60 sq. meters.

Xrbia, having supplied 3776 houses in 2016 alone is responding these incentives. Having established a base in the Mumbai Metropolitan Region and Pune Region, the company is on its way to reach a target of US $1 billion in sales by the end of 2017. Having sold 8,776 houses in the last 3 months, Xrbia is aiming to launch 24 projects in this year, amounting to 50,000 houses worth Rs.10,000 crores.

Xrbia further stands out in the sector for its innovative “No-Income-Proof” home loan scheme. This scheme enables applicants to apply for finance without income proof documents, and is backed by 20 housing finance companies, thereby extending opportunities for home ownership to the informal sector in India.

In a recent research report, Prop Equity, a leading real estate data and analytics platform covering 40 cities in India, confirmed Xrbia’s position as the affordable market leader, “Xrbia has emerged as the leading Real Estate Developer in the Affordable Housing Segment (i.e. under Rs. 25 lacs) across India in terms of units sold, selling approximately 2900 apartments between April 2016 to Dec 2016.”

Established affordable real estate providers have been slow to respond to the increase in demand in the below 20 lacs market space, causing demand to far outstrip supply in quickly urbanizing locations. In the Pune and Mumbai and Metropolitan Region, for example, demand for houses belowRs. 20 lacs outstrips supply by approximately 35%.

With demand for an additional 90 million housing units projected by 2020, the growth in the real estate market will be driven by the affordable housing sector. Indeed, recognizing the potential in the affordable housing market, other real estate developers are gradually entering this market space. As supply gradually increases, Xrbiapredicts that developers will increasingly compete on buyer’s growing preferences for flexible housing finance and integrated infrastructure.

Corporate Comm India(CCI Newswire)

 
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  • ·Leading real estate industry body aims to seek government’s support in framing state policies 
  • ·This is the 9 chapter of NAREDCO

New Delhi, March 25, 2017: Real estate industry body, Naredco has launched its 9th chapter in Punjab with an aim to seek government’s support on regulatory issues and propel the state’s real estate towards growth.

NAREDCO (National Real Estate Development Council), the apex national body for the Real Estate Industry which works under the aegis of Ministry of Housing & Urban Poverty Alleviation.

NAREDCO already has a presence across 8 states in the country including Delhi, Maharashtra and Karnataka capturing some of the prime real estate metros. The newly launched chapter has membership from 15-20 leading and local development firms.

Commenting on the launch of Punjab chapter, Mr. Parveen Jain President NAREDCO said, “The launch of Punjab chapter reinforces the need for the group of development firms to come together to raise local issues and regulatory concerns through a national platform. The Punjab chapter aims to help resolve local issues, initiate dialogue with the state as well as the national government to remove the uncertainties of the state’s real estate sector. We continue to get tremendous support from local as well as national level development firms in implementing the very objective of the chapter.”

Punjab’s real estate has seen correction in prices post demonetisation. The state’s market has transformed into a buyer’s arena as people are now preferring greater transparency in property transactions. Punjab is also one of the states in the country to have placed an interim Real Estate Regulatory Authority post framing the rules of a Real Estate (regulation and development) Act.

State offers some good options of real estate investments. Cities such as Amritsar, Ludhiana, Jalandhar, Mohali & Chandigarh offers good investment potential.

Corporate Comm India(CCI Newswire)

 
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New Delhi, March 24, 2017: With the new government at the centre, we are presently in the era of implementation of series of radical and transformational reforms and introduction of bills which aim at increased transparency, elimination of corruption and growth of digitalization. In the days ahead, we will see the Indian real estate sector to be still more transparent and credible with only organised and well self-governed players on the ground. But, at the same time the sector will be very attractive and rewarding to invest.

In the last decade developers with good governance, trust and transparency have redefined the lending mix and the pattern of funding to the real estate sector. The Indian real estate sector had seen a total funding of $5.4 billion in 2016 as against $3.8 billion five years ago. Of this, Private Equity accounts for 75% of total funding today. And, 70% of PE funding in the sector are by overseas investors.

Surely, with reduction in number of organised developers in the days to come with RERA, demonetisation and other reforms, and the good established players and brands not opting for expensive debt opportunities, PE participation will have a bigger role to play. More so with great the great investment opportunities the real estate sector unfold with Government laying thrust for affordable housing and Housing for all with private participation in a big way.

By substantially increasing their risk appetite, I am sure, PE funds with their pressure to deploy the funds mobilized and at the same time with the desire to play safe will be attracted by organised developers on the ground. No doubt, this situation will cast pressure on both entrepreneur and investors to perform as each one carry their own risk with thin margins. But this is good for the industry as well as for the investors.

Corporate Comm India(CCI Newswire)

 
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New Delhi, March 24, 2017: 2016 has been a turbulent year for real estate. The industry faced headwinds in terms of slow sales which was then followed by a reduction in project launches. Interest rates that were expected to come down stayed stubbornly high. The passing of the Real Estate Regulatory Act (RERA) added more confusion to the industry. This is been a year when judicial intervention for non - delivery by developers has been at its highest.

The demonetization move by the government has further added challenges to the industry. Unsubstantiated comments and wild predictions of price falls have led many customers to defer their home purchase decisions. This too has added further stress to the developers.

Demonetization will lead to a negative impact on those developers who currently follow a business model where they sell with a large cash component. Customers in this segment will be severely affected and as such their real estate purchases too will be impacted. There may be some downward pressure on prices as these developers are forced to sell their inventory at discounted rates to generate cash flow.

As we have already seen there is only a small impact where customers are purchasing from reputed developers paying full check towards their purchases.

Looking forward one expects that the government will take actions to back up the move of demonetization. This may further create some amount of issues for some developers. However, the much awaited reduction in interest rates as well as benefits expected in the budget should help revive the industry over the next few months.

With the elimination of black money from the industry that is likely to happen, as well as the implementation of the RERA a large number of fly by night operators will be forced to leave the sector leaving the industry in the hands of professional developers with a long term vision for the industry and clear customer focus. This will ultimately be in the interest of the home buyer in the medium to long term.

The most important question for customers however is whether to purchase from developers where there are deep discounts being offered. If the developer is in a shortage of funds crisis then it does not make sense for customers to buy even at discounts from such developers. This is a time when customers must be extremely cautious about where they choose to make the investments.

On an overall basis I do not see a major crash in prices as was predicted earlier however there may be some specific project level discounts offered by developers to tide over the current market conditions.

Gera Developments 2016 highlights

Gera Developments continues to see sales and progress of construction across projects. We believe customers are becoming more discerning and this shows up in the faith shown in us during these uncertain times.

Despite the volatility faced by the realty sector, the company is poised to see a year with the highest revenues till date.

Gera’s commercial brand ‘IMPERIUM’ has seen overwhelming response in both Pune and Goa. While Gera’s IMPERIUM GRAND is 90% sold, Gera’s IMPERIUM STAR has also notched up sales of over 70% in Goa. What has really provided a fillip is the sales achieved during the pre-launch stages of Gera’s IMPERIUM RISE in Hinjewadi in Pune with approximately 50% of the project already sold out with the development at the basement stage.

Gera Developments has also had remarkable success in the residential space with its ‘Trademarked’ offering, ‘ChildCentricHomes’ Gera’s Song of Joy, Phase 1 having been sold out. At Bavdhan, where Gera Developments has its luxurious hi-end residential offering, Gera’s Isle Royale, Phase 2 has been launched due to encouraging customer demand. Though the sales in the luxury segment continue to be near zero across the market, the fact that sales at Isle Royale continue to take place is testimony to the product and brand.

As a derivative of our core philosophy, ‘OUTDO’ and community creation, Gera Developments has achieved an extraordinary reception for the launch of its community initiative, LINT (Learning Inspiration Networking Training) for its commercial customers of the ‘IMPERIUM’ brand in Goa.

Known for transparency in the Pune realty market, the mobile application has simplified and provided hassle-free interaction with customers hugely enhancing the experience especially in tracking safety and quality to name a few.

Over the last 47 years, Gera developments has been accepted as a stable and reliable brand by key stakeholders having gone through various economic challenges in the country. The company already meets most norms of the RERA before the act has come into force and has been providing 5-year warranty consisting of preventive maintenance and repairs, since last the 12 years.

As we reflect on our delivery during the past year 2016 celebrating our sustained achievement of an A+ credit rating, we look forward to 2017 with the necessity for continuous improvement being the starting point. All of this is best driven and encapsulated in one word OUTDO, our belief system.

Corporate Comm India(CCI Newswire)

 
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New Delhi, March 23, 2017: Ministry of Housing and Urban Poverty Alleviation has sanctioned 3,128 more affordable houses for the benefit of urban poor in Puducherry, 924 for Telangana and 2,655 for Himachal Pradesh under the Prime Minister’s Awas Yojana (Urban).

The Ministry approved 1,24,521 affordable houses for urban poor yesterday taking the total number of such houses being constructed under PMAY(Urban) with an approved investment of Rs.95,671 cr so far. Central assistance of Rs.27,766 cr has been approved for construction of these houses.

Noting that housing mission in urban areas is gaining momentum, Minister of HUPA Shri M.Venkaiah Naidu has directed the ministry officials to ensure that necessary measures were taken by the respective city and state governments for building houses for urban poor in quick time.

Puducherry has been sanctioned 3,128 houses in four towns under Beneficiary Led Construction (BLC) component of PMAY (Urban) at a total project cost of Rs.131 cr for which central assistance of Rs.47 cr has been approved. With this, total number of houses sanctioned for Puducherry has increased to 3,848.

Puducherry city has got 2,093 houses followed by Karaikal-592, Yanam-358 and Mahe-85 houses.

In Telanagana, Siddipet has been sanctioned enhancement of 924 houses under BLC component at a total cost of about Rs.14 crores for which central assistance of Rs.14 cr has been approved. With this, total number of houses sanctioned for the State under PMAY(Urban) has gone up to 81,405.

Himachal Pradesh has been sanctioned 2,655 houses for 12 towns at a total project cost of Rs.102 cr for which central assistance of Rs.40 cr has been approved. With this, total number of houses sanctioned for the State under PMAY(Urban) has increased to 4,569 so far.

In Himachal Pradesh, Nalagarh has been sanctioned 531 houses followed by Nahan-289, Dharamshala-227, Una-217, Mandi-174, Shimla-61, Chaba-57, Bilaspur-37, Solan-27, Baddi-25, Kullu-9 and Parwana-1.

Under BLC component of PMAY (Urban), the beneficiaries are provided central assistance of Rs.1.50 lakh each for construction of a pucca house on their own land or for improvements in existing house.

In addition, Karnataka was sanctioned 31,424 houses, Madhya Pradesh -27,475, Bihar-25,221, Jharkhand-20,099, Kerala-11,480 and Odisha-2,115 houses under PMAY(Urban).

Pradhan Mantri Awas Yojana(Urban) was launched by Prime Minister Shri Narendra Modi on June 25, 2015 with the objective of enabling all poor urban households own a pucca house with necessary basic amenities.

 

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