Sterling Urban Developments, a joint venture floated by HDFC Property Fund (a subsidiary of Housing Development Finance Corporation) with Bangalore based Sterling Developers, will take up development of 150 acres at Bangalore's Whitefield suburb at a cost of Rs 4,000 crore. The project, 'Sterling Villa Grande', will see a total built-up area of 20 million square feet to be executed in phases.

HERE ARE SOME TIPS ON HOW TO NEGOTIATE A PROPERTY DEAL WITH YOUR AGENT

Don't reveal your emotions: Be polite, but if you let the seller know what you are really thinking, it doesn't matter what you do -- he knows he's got you hooked.

Be a "loan approved" buyer: A pre-approved buyer is almost as strong as a cash buyer. "If you are certain of your ability to obtain the necessary financing, you may even want to remove all financing contingencies except appraisal so that you are exactly like a cash buyer," says broker Vikram Chopra.

Offer the seller a higher deposit: Sometimes, deals are done on the basis of upfront deposits that show a genuine willingness on the part of the buyer. But don't overdo it-the idea is to get a fair deal, not a desperate one.

Be flexible about dates: When the seller wants more or less time on a closure, if you give him what he needs, you can almost always assure yourself of some price concession. You may even offer to close the deal and allow the seller to "lease back" the property from you for a short time if that improves the elbow room for the deal, says Rajeev Agnihotri, senior business analyst at zameen-zaidad.com

Hide your closing costs: Though this does not necessarily work every time, sometimes a seller who feels he has received his "selling price" may agree to pay some of the buyer's closing costs as part of the transaction

Ask for seller concessions: From free appliances or add-ons like carpets, or a paint allowance that decreases service costs, you get yourself something in addition to the negotiated price

Courtesy:- HT dtd.05-05-08

TDI Hotels and Resorts Ltd., a group company of TDI Infrastructure Ltd, signed an Operating, Marketing and Technical Services Agreement with Fortune Park Hotels Ltd, a subsidiary of ITC Ltd, in a glittering ceremony at ITC, Maurya, in New Delhi today . The agreement was signed by Ravinder Taneja, Vice Chairman, TDI Infrastructure Ltd and Pawan Verma, Senior Executive Vice President (Operations), ITC Ltd (Hotels Division). The 100 room hotel, ‘Fortune Select Hotel', is to come up near the TDI Kundli Township, in Sonepat District on NH 1. The hotel would commence operations in 24 months and will serve the needs of NCR and the KundliSonepat belt. This is the first of the many hotels, TDI Hotels and Resorts are going to build in their various townships.

Courtesy:- HT dtd.03-05-08

WITH REALTY PRICES TOUCHING THE ROOF IN ALMOST EVERY METRO, THOSE ASPIRING TO PURCHASE PROPERTY HAVE ONLY ONE OPTION - TO INVEST IN TIER III TOWNS WHERE THE COST DOES NOT PINCH

With development taking place all over India and a high price index to match, people are finding it difficult to buy property that suits their budget. Property in Tier I cities is beyond a buyers' reach. The only choice then left is to consider Tier III cities where real estate prices are still affordable and the prospects of appreciation are high.

At present, Tier III cities are believed to offer a cost advantage of 15-30 percent over Tier I and II cities. Of the leading Tier III cities, the townships that are likely to see huge growth in the coming years include Dharuhera, Zirakpur, Moradabad, Rishikesh, Haridwar, Vrindavan, Mathura and Yamuna Nagar.

Investors are condsdering Tier III cities as a viable business option. Realty surveys indicate that the growth of these cities will soon grab the attention of technology sector players as well. Ahmedabad, Chandigarh, Indore, Kolkata and Nagpur are some Tier III cities which are best positioned to emerge as major IT centres for offshore activities over the next five years, according to a recent Jones Lang LaSalle report titled 'India The Next IT Offshoring Location. Tier III Cities'. Here's a brief look at these townships.

                                                                                                                                                    Courtesy: HT. dtd- 26-04-08

Dharuhera: Located on NH-8 and close to places such as Rewari and Bawal, Dharuhera is poised to witness a lot of activity over the next few years. (One of the reasons for the rise of Bawal was to end the congestion in industrial areas like Gurgaon and Faridabad). Despite the opening up of industries worth Rs. 3000 crores in Bawal, a car plant of Honda Sel in Khuskhera, the Kundli-Manesar-Palwal (KMP) Expressway, a SEZ (Reliance), the Japanese corridor, a railway corridor etc, prices here hover between Rs. 8,000 per sq. yd. and Rs. 14,000 per sq yard. On the outskirts of Dharuhera towards Jaipur prices are Rs. 6,000 per sq. yd.

                                                                                                                    Courtesy: HT. dtd- 26-04-08

Zirakpur: Following in Gurgaon's footsteps, this township is strategically located on the main highways: Chandigarh-Ambala and Zirakpur-Patiala. The Punjab Urban Planning & Development Authority (PUDA) has recently passed the Zirakpur Master Plan and this has attracted developers to the area. Real estate companies like Paras Buildtech, Jaipuria, Pearls Infrastructure, Silvercity, Emgreen, Opera, Orbit are developing their projects in the area. Prices in Zirakpur hover around Rs. 2200 per sq.ft.

                                                                                                  Courtesy: HT. dtd- 26-04-08

Mumbai: Realty Company Mantri Realty is betting big on south India and plans to foray into Chennai in Tamil Nadu and Belgaum in Karnataka with high- end residential townships. “We foresee a tremendous potential in Chennai in Tamil Nadu and Beglaum is just beginning to take- off. We are very bullish on both these new

Destination, “told the Mumbai- based company’s Chairman Sunil Mantri.

The company, which has committed and investment of Rs 1, 700 crore over the next three years in the south, is already present in a big way in Karnataka and Andhra  Pradesh with a land- bank of 600 acres and 100 acres respectively. “We are also contemplating building an IT SEZ over 25 acres in on of the campuses, “ Mantri said.

                                                                                                                                                                                        E.T 31-03-2008