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19-May-2012

Karnataka Housing Board famously known as KHB recently recovered an unaccounted property of worth over Rs 1000 crore. This property came to limelight when a land audit is conducted across various properties in Karnataka. This audit also revealed the fact that over 18,000 properties are not register under assets register. Responding to this issue housing minister B Somanna said that these newly identified assets would be made available to the public through auction. All these unregistered properties are mainly located outside the Bangalore region. Government ...
#Karnataka#Issue Housing Minister#Karnataka Housing Board#Central Government#Bangalore

19-May-2012

India’s biggest insurance company LIC housing finance ltd., is recently in bangalore news. It has achieved a fund of Rs 250 crore for its real estate equity fund. LIC housing finance started in this real estate equity fund launched in the last year, the fund has target size of Rs 500 crore. So far the company has able to raise Rs 250 crore from institutional investors like banks and corporates. The company is planning to complete the fund raising by this June end. LIC housing finance is planning to invest this equity fund in mid-income housing ...
#IndiaReit Fund#Real Estate Fund#Bangalore#Finance#India

19-May-2012

One of the most prestigious projects started by Karnataka state government is Sakaala. Sakaala which guarantees delivery of government services in a stipulated time. But people in Karnataka are not completely aware of the services that they get from this project. Urban development minister of Karnataka S Suresh Kumar announced it that soon the Sakaala services are go online in a month’s time. According to a survey report conducted by government sources, it is revealed that the overall pace of citizens availing these services is much lesser than ...
#Real Estate Analysts#Urban Development Minister#Bangalore#Karnataka#Further Government

19-May-2012

Brigade Enterprises one of the top developing firms in Bangalore announced its quarterly results for the quarter ended march 31, 2012. The results are not very promising, they have seen a downfall of around 70 percent to Rs 8 crore. The company recorded net profit of Rs 27 crore during the corresponding period of the previous year. Even though the company seen a downfall in its profit but the total revenue of the company is increased by 29 percent, which stood at Rs 132 crore against Rs 102 crore in the last year. Net sales of the company stood at Rs 104.8 ...
#Bangalore#Brigade Enterprises#Vice President

19-May-2012

Sobha developers reported its quarter results of the quarter ended March 31 2012 and shown tremendous results. It shown a profit of Rs 94 Crore, compared to a profit of Rs 40.2 Crore in the corresponding period last year. Going into detailed repost the company posted that its consolidated revenue increased by 64% year-on-year to Rs. 524 Crore, of which real estate contributed Rs. 392 Crore, while the rest of the revenue came from the construction contracts. Also, the company as increased its average price realisation to Rs 5,380 per sq ft. It is almost 20% higher when ...
#Sobha Developers#Director Of The Real Estate Firm#Ravi Menon#Co-Chairman#Vice-Chairman

19-May-2012

Sobha Developers, one of the most fast developing developers in Bangalore is set a target of Rs. 2000 crore in sales booking of the fiscal year 2012-13, up by 18 percent from 2011-12. However, this growth is lass compared to last year’s growth. The company’s Bangalore division posted a growth 50 percent in the sales booking at s 1701 crore in the year 2011-12 fiscal against Rs 1133 crore in the previous fiscal 2010-11. This year’s target is planned to achieve by selling the new volume of 3.75 million square feet. Decline in the interest ...
#Sobha Developers#Ravi Menon#Founder Chairman#Vice-Chairman#Bangalore

19-May-2012

In the late 80’s and early 90’s Bangalorian used to call Koramangala as a ‘land of mosquitoes’. Now it is no more called as ‘land of mosquitoes’, thanks to Bangalore real estate properties for changing the complete status of Koramangala within 10 years of span. The total area of Koramangala is spread over 1800 acres in eight blocks is became hot cake of real estate property in the Bangalore. The main reason for this drastic change is the construction of Raheja Arcade by Raheja Developers. Soon after the Forum mall ...
#Raheja Arcade#Real Estate Property#Real Estate Consulting#Cushman & Wakefield#Forum Mall

19-May-2012

Bangalore realty market seen a tremendous raise in property prices over the past four months. According to the survey conducted on a group of buyers and sellers,  it is known that over the past four months prices of bangalore properties has been raised by 4.5 percent, which is huge in the recent times after recession. This is increase is observed for the period between December 2011 and April 2012. This is survey is conducted on 100 projects, it also observed that some of these projects prices are raised by more than 5 ...
#Bangalore#Maiden Heights

19-May-2012

With the help of private participation, Karnataka state government has decide to develop a film city soon for the development of film Industry in Karnataka. The state government is planning to dedicate a land of 302 acres at Hesaraghatta for the development of film city and decided to invite Expression of Interest (Eol) for the same. According to the sources this film city project includes a theme park and a golf resort. In fact, this proposal of developing a film city is not a new one, way back in the year 1970 this project has been on the cards since then due to lack ...
#Karnataka#State Government

19-May-2012

A new project called UPOR (Urban Property Owner Record) is soon going to be implemented in Bangalore. It already got approval from the state government. UPOR has been formulated on the Scotland model. This project is also called as City Survey, under this project property cards and land titles are given to the owners of properties after conducting a survey. Apart from providing titles to property owners, this also helps trace encroachments, especially of the government lands. UPOR is implemented by department of Survey Settlement and Land Records. It is ...
#Record#Bangalore#Scotland#State Government

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