Gurgaon Property News

Home Loans Up Again

With interest rates on home loans curving up, EMIs will no longer be as easy to pay as they used to be. HDFC has set the ball rolling. HDFC chairman, Mr Deepak Parekh has said that it will increase the lending rate by 50 basis points or 0.5 pct, from April. Just last month it had hiked the rate by 50 basis points. For those who have already taken, say, a 20-year loan of Rs 1 lakh, the EMI at 7 pct is Rs 775. If the EMI remains unchanged, the repayment period will increase to nearly 22 years at 7.5 pct, to 24 years and 8 months at 8 pct, to 28 years and 11 months at 8.5 pct and a little over 38 years at 9 pct. However, some bankers believe that this increase is a temporary phenomenon and once liquidity improves, the rate will come down. 

Gurgaon Property News

Ansal Group Plans A $2.3 bn Township

Ansal Properties Group is planning to build a $2.3 bn integrated township near New Delhi. The real estate major while announcing its partnership venture, Faber Star Facilities Management Pvt Ltd with Malaysian Faber Group, Berhad to offer healthcare support and facility management to medical institutions in India said that it was in an advanced stage of securing necessary approvals. Mr Anil Kumar, chief executive officer, Ansal, said that their order book stood at more than Rs150 bn, with 75-80 pct of that for integrated townships or residential colonies in second-tier cities.

Gurgaon Property News

Media Videotech Buys 4 Realty Firms

In a bid to consolidate its land holdings around New Delhi, the realty division of Media Videotech has spent Rs 67 crore in acquiring four realty companies with big land holdings in the National Capital Region (NCR). The companies that are being acquired are Acacia Buildwell, VAlerian Property Developers and Beechtree Buildcon. These acquisitions will allow the compnay to gain control of Rs 200 crore, 4 lakh sq ft IT park project in Gurgaon. The company has also acquired another realty company, Smart Buildwell for a consideration of Rs 22 crore in an all cash deal. With this acquisition, Media Videotech will gain control of a Rs 160 crore residential township in Bhiwadi in the NCR, with a total saleable floor space of 1 mn sq ft. The housing project is at a prime location on the Bhiwadi-Alwar Road and will be targeted towards those working in and around Gurgaon as the demand for residential apartments in this region has risen sharply. 

Gurgaon Property News

Timeshare

If you are interested in owning property in your favorite region of the country but aren't ready or able to buy a home on your own, consider purchasing an India timeshare. These properties, which are shared in terms of cost and usage among multiple owners, make it possible for individuals to own their own little piece of India without incurring the massive costs of sole property ownership. Perhaps you are interested in securing large and well-appointed lodgings on your trip to India but aren't yet ready to buy a vacation property. You can often rent timeshare for a fraction of what you might pay to rent a hotel room on a nightly basis.

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