India - global real estate invester's preferred market

According to a survey conducted by the Association of Foreign Investors in Real Estate (AFIRE) , India is one of the most preferred property market among foreign investors globally.

This report is from
January/February 2008 (AFIRE) news letter. India is preferred by 16.7 per cent of the respondents favoring the country as the most fancied place for real estate investments. In the survey , Although the US was named the top ranking country, China and India placed a strong second and third. Compared to 2006, China had the biggest improvement in investor’s perceptions, moving seven percentage points, while India slipped by almost two points. To be read along the lines is JP Morgan (One of the largest investment banks in US) plans to invest 1500 Crores in real estate projects in india.

You can read the full report here

Parking Spots rising costs

An interesting article about the cost of parking lots in mumbai. It seems that a parking spaces in mumbai are as expensive as a flat / apartment in cochin.. Another article about 25 floor parking planned in mumabi
It wouldnt be long before we see an article like this parking spot for $225000 or an ad like this Outdoor Parking spot for sale for cochin and other major cities in kerala.

Storage areas and parking spots in the city is a multi billion revenue business in developed countires. Parking is a big problem in most cities in kerala. It is not uncommon for people to choose a store / area to shop just for the reason that it is easy to find parking around. That 5 cent or 10 cent second plot (plot behind the roadside plot) you have, could worth much more in next 5 years.. especialy when tata nano hit the road ....

Real estate market to grow ~6.5 times by 2015: report

Indian Express Reports that Indian real estate market, growing at 30 per cent, is likely to touch $90 billion by 2015 from $14 billion at present. According to the report

IT and ITeS, banking and financial services have in particular created a huge demand for office space. IT and ITeS alone is expected to require 150 million sq ft across urban India by 2010. The year 2006-07 witnessed organised retail growing at a pace of 25-30 per cent.

Read it here

Watch Dog for Housing Builders

Real Estate fraud is booming like never before, and con artists are finding new and ingenious ways to fleece unsuspecting property investors. We have heard of so called, 'leading builders' being involved in land encroachment to real estate agents cheatings buyers.

Looks like Govt and the builders association itself is stepping up to provide some protection to the consumers (and thus protect their bussiness :) ). Every buyer has to understand that , a legal check is the non-negotiable part of purchase.

Interesting facts about Kochi real estate

A freelance writer Resmi Jaimon , analyzing some facts about real estate scene at Kochi. The author is "a regular contributor of The Hindu's Property Plus & Metro Plus; Rediff; Information Technology; and a couple of other publications"

It is an intersting read.. Kochi Real estate facts

Another article about real estate projects at kakkanad

About Real Estate Prices in Kerala

An article about the price increase in property investments in the last few years. The numbers illustarted in the article might look like exaggrated. Infact they are not.. I guess every one of us knows some or the other guy made a fortune out of some land they inherited or bought for peanuts 5+years ago.. I remeber reading some where , the minimum(yes, minimum!) profit per year, in any land investment in cochin area have been 60% for the last several years.

Despite of our Govt and Kerala Media keep repeating 'land mafia', I sincierly think it is not just some 'land mafia' driving all the prices up in kerala. Some thing Kerala media , govt and many people fail to notice is that this is a growth that is reflected in every city in India .. Every part of india! While I agree there are some players in this field doing and trying foul plays, driving up the prices, it cannot be just that.. As per Wikipedia India " is the third largest in terms of purchasing power parity. India is the second fastest growing major economy in the world, with a GDP growth rate of 9.4% for the fiscal year 2006–2007"

Some happenings in the last few years...

• Ambani is buliding the most expensive home in the world
• Tata motors is buying 2 leading luxury auto brands in the world Jaguar and Land Rover
• Lakshmi Mittal, is world's largest steelmaker ....
• 14 new billionaires from India join world's richest people list,in the last year...

and the list goes on....

Indias projected GDP growth is 8+% in this year also.. When every business in India is booming, would it refelect in kerala ?.. Is it sensible to say , keralas land prices are all controlled by some 'land mafia' ?

Cochin Cyber city issue - Minister K P Rajendran Interview

All the talks are about why HMT kalamassery land should not have sold to HDIL for cyber city project. All the media and opposition (within govt and the UDF)parties are after the blood of the industrial and revenue minister. Yes, since there was attempt to encroach the goverment land,it should be enquired and the conspirators must be brought to justice..

But what did HDIL do wrong ?.. how about some talks on establishing Cyber city else where? How about some talks on offering HDIL other options? Neither goverment nor the opposition [the so called ambassadors of vikasanam] seem to be interested in it. Needless to mention about kerala media! They are real parasites....