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Monday, November 23, 2009
Wednesday, November 4, 2009
Bumpy road ahead for realty sector
The bear hug over the realty sector continued as the sector ended the trading last week as one of the top losers with a loss of 15.38 percent. In the week ended on October 30, 2009, the realty sector traded in the range of 4502.63 and 3827.14 points.
Among those which lead the fall were Indiabulls Real Estate with 18.30 percent, DLF dropped by 16.24 percent, Unitech was down by 12.78 percent, while Omaxe lost 14.41 percent and HDIL closed 14.30 percent lower.The RBI's recent move to curb lending to real estate sector has also helped investors to be away from investing in the realty stocks. Ashish Jagnani of Citigroup said, "RBI's recent policy measure to raise provisioning norms from 0.4 percent to one percent for commercial real estate loans has signaled caution and an uptick in borrowing costs. This has already dampened sentiment, and could act as an overhang on stocks. While the sector is down an average around six percent over last 15 days, with most stocks still trading close to NAVs (net asset values).
We believe new IPOs (initial public offering) will offer much more choice - hence see near-term downside/underperformance risks for existing listed players."The RBI move has come at a time when things were slowly falling in place for the big developers. A fund manager with a mutual fund said, 'We believe access to capital will remain a big challenge to these companies. But, since most of the big players have raised funds through QIP placements, the next issue would be that of liquidity. We prefer a wait and watch approach."
The recovery in the real estate sector is likely to continue at uniform pace for a few more quarters before it translates into more robust growth in revenues and profits. In the last two quarters, real estate companies have noticed a recovery, as prices recovered and buyers started coming back. Analysts are convinced that the market has bottomed out and that prices will steadily improve. But changes in the product mix to more affordable homes and stricter funding norms may lead to some bumps on the road to recovery.
Source:http://www.siliconindia.com
Among those which lead the fall were Indiabulls Real Estate with 18.30 percent, DLF dropped by 16.24 percent, Unitech was down by 12.78 percent, while Omaxe lost 14.41 percent and HDIL closed 14.30 percent lower.The RBI's recent move to curb lending to real estate sector has also helped investors to be away from investing in the realty stocks. Ashish Jagnani of Citigroup said, "RBI's recent policy measure to raise provisioning norms from 0.4 percent to one percent for commercial real estate loans has signaled caution and an uptick in borrowing costs. This has already dampened sentiment, and could act as an overhang on stocks. While the sector is down an average around six percent over last 15 days, with most stocks still trading close to NAVs (net asset values).
We believe new IPOs (initial public offering) will offer much more choice - hence see near-term downside/underperformance risks for existing listed players."The RBI move has come at a time when things were slowly falling in place for the big developers. A fund manager with a mutual fund said, 'We believe access to capital will remain a big challenge to these companies. But, since most of the big players have raised funds through QIP placements, the next issue would be that of liquidity. We prefer a wait and watch approach."
The recovery in the real estate sector is likely to continue at uniform pace for a few more quarters before it translates into more robust growth in revenues and profits. In the last two quarters, real estate companies have noticed a recovery, as prices recovered and buyers started coming back. Analysts are convinced that the market has bottomed out and that prices will steadily improve. But changes in the product mix to more affordable homes and stricter funding norms may lead to some bumps on the road to recovery.
Source:http://www.siliconindia.com
Tuesday, October 20, 2009
How to buy a home first time
Buying a home is not a easy task as there are various frauds in this real estate market so must know the steps required in buying a home and this will become more important when you are the first time buyer.Buying a home requires a series of steps that optimally occur in a certain order. Deviating from the normal order or skipping steps works sometimes, but understanding the logic of the normal process is a useful context for any purchase transaction.
you are already clear as to what you are looking for, a search of the available listings within your price range in various cities will quickly familiarize you with the tradeoffs. In one place you will get a larger house with desirable views, in another the better schools but the houses will be smaller, and so forth. You may want to find a group of houses that look promising and drive by these houses or go to open houses. After a few weekends of driving around, most people find that their preferences have become clear.
you are already clear as to what you are looking for, a search of the available listings within your price range in various cities will quickly familiarize you with the tradeoffs. In one place you will get a larger house with desirable views, in another the better schools but the houses will be smaller, and so forth. You may want to find a group of houses that look promising and drive by these houses or go to open houses. After a few weekends of driving around, most people find that their preferences have become clear.
Tuesday, September 22, 2009
Purchase Gurgaon Property - A Good Decision For All
The Real estate in Gurgaon city going to touch the height of sky due to shifting of so many people from other parts of the country and off course from Delhi too, to this city. Gurgaon is preferring specially by the IT people cause so many MNCs are situated here and the employees who are working in those MNCs wants to reside near to their office. Gurgaon is a perfect place for those who like to live in a city having less amount of rush and good modernity.
Taking decision to purchase Gurgaon property could be a good decision for any individual. Its infrastructure always attracts the people to stay here. Gurgaon is specially preferred by the working IT professional who are working in MNCs situated at Gurgaon. This city also contains lots of good residential Flats, Bungalows available for sale. One can also establish his office by selecting a nice area which will be best suited for his business.
Metro work has been about to complete in Gurgaon it will give better traveling facilities to Gurgaon people by using which they can reach to their destinations in few minutes rather than wasting their lots of hour by getting stuck in Traffic jams. Metro will not only make their life easy, but will also save lots of their time to which they can utilize with their families and friends.
Taking decision to purchase Gurgaon property could be a good decision for any individual. Its infrastructure always attracts the people to stay here. Gurgaon is specially preferred by the working IT professional who are working in MNCs situated at Gurgaon. This city also contains lots of good residential Flats, Bungalows available for sale. One can also establish his office by selecting a nice area which will be best suited for his business.
Metro work has been about to complete in Gurgaon it will give better traveling facilities to Gurgaon people by using which they can reach to their destinations in few minutes rather than wasting their lots of hour by getting stuck in Traffic jams. Metro will not only make their life easy, but will also save lots of their time to which they can utilize with their families and friends.
Thursday, August 27, 2009
Real estate transferred billions from private to public investors
The final lesson of the last real estate cycle is in: Private real estate investment managers drove real estate values to dizzying heights and as those private buyers offered more than properties were worth, the publicly traded REITs sold them. The result was "an enormous transfer of wealth from private to public investors," Brad Case, NAREIT's vice president for research and industry information, wrote. Now that values have fallen 25% to 39%, REITs are in a position to buy back those same properties at deeply discounted prices.
Source:http://www.smartbrief.com/news/nareit/storyDetails.jsp?issueid=330C7296-A708-4275-B736-EB7CF6186F19
Source:http://www.smartbrief.com/news/nareit/storyDetails.jsp?issueid=330C7296-A708-4275-B736-EB7CF6186F19
Monday, August 10, 2009
Realtors rebuild hopes on rising home sales
After a long hiatus, home sales are finally back on track. Sales of major real estate developers have more than trebled in the June quarter compared to the preceding three months, amid growing expectations that the good times will continue to roll.
Consider this: DLF, the country’s largest real estate developer by market value, has sold 2,500 apartments in the first quarter of the current fiscal, compared to nearly 600 in the quarter ended March 2009. In the preceding quarter, DLF had sold just about 120 apartments.Unitech, the country’s second largest property developer, went a step further and sold 5,000 units in the first quarter, compared to 300 to 400 apartments in the preceding quarter.
Delhi-based Parsvnath Developers did 100-odd transactions against 25 to 30 in the previous quarters, and Omaxe reported sales of 700 units, compared to 200 in the same period.“After a few difficult quarters last fiscal, we have seen a fairly good first quarter of the current fiscal. The economy on the whole has been showing signs of recovery, and activity in real estate has picked up,’’ DLF Vice-Chairman Rajiv Singh said.
Almost all of them are convinced that the future looks bright. While DLF’s Singh aid he expected the market to improve, a Unitech spokesperson said the market would pick up in the second quarter, though demand would be mainly for affordable products.
“It is a good time to bargain-pick now,” said Ravi Ramu, director of Bangalore-based Puravankara Projects.
That the first-quarter sales are no flash in the pan is reflected in the fact that developers have lined up around 60 million square feet of new launches this year, more than double last fiscal’s bookings.DLF plans to launch 8 to 9 million sq ft of city centre projects in Chennai, Kochi, Delhi and Gurgaon and 5 to 8 million sq ft of mid-income housing projects in the National Capital Region and southern cities. Unitech has launched buildings covering 15 million sq ft since April and plans to launch an additional 15 million by March 2010.
Apart from lower interest rates and affordable housing, the reduction in the number of fence-sitters has helped in a major way. ICICI Bank Chief Financial Officer N S Kannan said buyers had been postponing their purchase decisions in the hope that prices would fall further.
Source:http://www.business-standard.com/india/news/realtors-rebuild-hopesrising-home-sales/366216/
Consider this: DLF, the country’s largest real estate developer by market value, has sold 2,500 apartments in the first quarter of the current fiscal, compared to nearly 600 in the quarter ended March 2009. In the preceding quarter, DLF had sold just about 120 apartments.Unitech, the country’s second largest property developer, went a step further and sold 5,000 units in the first quarter, compared to 300 to 400 apartments in the preceding quarter.
Delhi-based Parsvnath Developers did 100-odd transactions against 25 to 30 in the previous quarters, and Omaxe reported sales of 700 units, compared to 200 in the same period.“After a few difficult quarters last fiscal, we have seen a fairly good first quarter of the current fiscal. The economy on the whole has been showing signs of recovery, and activity in real estate has picked up,’’ DLF Vice-Chairman Rajiv Singh said.
Almost all of them are convinced that the future looks bright. While DLF’s Singh aid he expected the market to improve, a Unitech spokesperson said the market would pick up in the second quarter, though demand would be mainly for affordable products.
“It is a good time to bargain-pick now,” said Ravi Ramu, director of Bangalore-based Puravankara Projects.
That the first-quarter sales are no flash in the pan is reflected in the fact that developers have lined up around 60 million square feet of new launches this year, more than double last fiscal’s bookings.DLF plans to launch 8 to 9 million sq ft of city centre projects in Chennai, Kochi, Delhi and Gurgaon and 5 to 8 million sq ft of mid-income housing projects in the National Capital Region and southern cities. Unitech has launched buildings covering 15 million sq ft since April and plans to launch an additional 15 million by March 2010.
Apart from lower interest rates and affordable housing, the reduction in the number of fence-sitters has helped in a major way. ICICI Bank Chief Financial Officer N S Kannan said buyers had been postponing their purchase decisions in the hope that prices would fall further.
Source:http://www.business-standard.com/india/news/realtors-rebuild-hopesrising-home-sales/366216/
Monday, August 3, 2009
Jaypee results shine in the cesspool of realty downturn
The Jaypee group has closed the quarter with Rs 211686 lakh of total income for the quarter ended June 30, 2009. Net profit for the period was Rs 49118 lakh.The company has as usual beaten expectations. It is expected it will do better in times to come.
There was a time when your dream house was being offered with a free Mercedes car or a gleaming beamer, or even a few 22 carat gold coins as freebies. In some cases, even a small spare as a wee bit apartment was being thrown into the deal for customers looking at premium bungalows located in the lap of nature.
The real estate sector was totally unprepared when the slowdown hit them as every single participant of this industry was supremely confident of it growing all the time and that too more than 200 per cent every month. A few newspapers such as FINANCIAL TIMES had predicted that the real estate industry is likely to crash but nobody was listening.
Therefore, when the slowdown happened nobody had prepared for it. Some of the innovations were really cheesy. Some builders had begun shifting from the premium housing sector and were launching projects in the more affordable range for middleclass buyers. Were these the signs that realty prices will never rise like rockets in the future?
Source:http://economictimes.indiatimes.com/Features/Financial-Times/Jaypee-results-shine-in-the-cesspool-of-realty-downturn/articleshow/4847340.cms
There was a time when your dream house was being offered with a free Mercedes car or a gleaming beamer, or even a few 22 carat gold coins as freebies. In some cases, even a small spare as a wee bit apartment was being thrown into the deal for customers looking at premium bungalows located in the lap of nature.
The real estate sector was totally unprepared when the slowdown hit them as every single participant of this industry was supremely confident of it growing all the time and that too more than 200 per cent every month. A few newspapers such as FINANCIAL TIMES had predicted that the real estate industry is likely to crash but nobody was listening.
Therefore, when the slowdown happened nobody had prepared for it. Some of the innovations were really cheesy. Some builders had begun shifting from the premium housing sector and were launching projects in the more affordable range for middleclass buyers. Were these the signs that realty prices will never rise like rockets in the future?
Source:http://economictimes.indiatimes.com/Features/Financial-Times/Jaypee-results-shine-in-the-cesspool-of-realty-downturn/articleshow/4847340.cms
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