|
News & Events
| CREDAI PROPERTY SHOW 2011 |
| 16/12/2011 |
|
The Kerala Property Show organised by the Confederation of Real Estate Developers Association, Kochi, was jointly inaugurated by MLAs Benny Behanan and Hibi Eden at the International Stadium in Kaloor on Friday.
The show exhibitors’ directory-2011 was released by Hibi Eden by giving a copy to John Thomas, secretary, CREDAI, Kochi. M V Antony, president, CREDAI, Kochi, welcomed the gathering. Abdul Azeez, chairman, CREDAI Kerala, gave the presidential address.
V Sunil Kumar, chairman, exhibition committee proposed a vote of thanks.? The five-day show is on from 10 am to 8 pm and will end on December 20
|
| No Metro for Metro man’s hometown |
| 17/11/2011 |
|
Metro Man E Sreedharan’s home Kerala may not figure on the Metro rail map. Three main stakeholders of the project — Railways, Finance Ministry and Planning Commission — have shot down the revised blueprint of the proposal at a recent meeting in New Delhi citing various constraints.
“At a high-level meeting on November 8, the trio questioned the justification of the Kerala Government’s demand for the project. They questioned the viability of the project noting that there were not sufficient passengers to ensure break-even point for the 25 kilometre long metro railways connecting Alwaye to Pettah in Kochi,” sources in the Urban Development Ministry told The Pioneer.
As per the Centre’s latest decision for Metro rail projects, attention has to be focused on cities with population of 20 lakh and more. But Census 2011 puts Kochi’s population at somewhere between 10.3 lakh and 10.4 lakh.
“Moreover, Planning Commission and the Finance Ministry were keen that the project should be under the Public-private sector mode and not as a joint venture as demanded by the State Government,” the sources said.
They further said that representatives from the Kerala Urban Development Ministry, however, were adamant that it was not possible to go for PPP as the private companies were not coming forward for investment in the Rs 4,910 crore-project.
Little scope for developing real estate in the region was the main reason attributed for the lukewarm response from the private developers.
|
| WORLD ENVIRONMENT DAY 2010 |
| 02/06/2010 |
|
The World Environment Day is celebrated every year, on June 5.It is intended to spread awareness on the importance of protecting the environment that will make make our planet a better place to live.June 5 was the daythat United Nations Conference on the human Environment began,way back in 1972 and it is commemorated each year in a different city.
It is one of the principal vehicle through which the United Nations stimulates worldwide awareness of the environment and enhanes political attention and action.By now, the relevance of the day to enhance political action in order to safe gaurd the environment has been realised by all.
This year the theme adopted in connection with the world environment day is 'Many Species, One Planet, One Future'.As part of the 2010 International Year of Biodiversity programme, this year's event is focussing on the incredible diversity of life on Earth.The city fo Kigali in Rwanda is this years Global host.
|
| Building Rule amendments set to be changed |
| 20/03/2010 |
|
The amendments to the Kerala Municipal building Rules will be changed.The complaints of builders and architects against these notified in the December 2009, have been taken note of, officials say.
The norms of the visitors car parking are likely to be relaxed.Another issue is the road frontage requirements for projects with different capacities.The builders argue that they are ready to spread out developments but the outskirts lack the infrastructure for major projects.The officials however say that builders and architects have raised unnecessary fears on the percieved ambiguity on various norms.
The amendments were brought about according to the rules in various states such as Andhra Pradesh and Karnataka, but these have not been received well here in kerala by builders and architects.While builders argue that space is scarce in the state and vertical development is the way ahead, an official says that there should be no compromise on safety norms.
|
| ABAD BUILDERS nominated for CNBC Awaaz CRISIL Real Estate Awards 2009 |
| 20/01/2010 |
|
ABAD OLYMPUS has been nominated for the prestigious CNBC Awaaz CRISIL CREDAI REAL ESTATE AWARDS 2009 for best residential project (South Region) & for the most transparent system.
Making Abad builders the only developer from Kerala to be nominated for this much sought after recognition.Last year, ABAD's 'Rainbow Retreat'Garden Villas at Irimpanam had been nominated for the best residential category.
|
| Builders see bright prospects for 2010 |
| 28/12/2009 |
|
The prospects for 2010 look bright as per builders.As the heady prices of the boom period came down,people heaved a sigh of relief.It was good as the market correction was necessary.
Some important lessons that the builders have learned is the pricing of the property.There is more demand for the houses in the 800 to 1500 Sqft area that cost between 20 to 35 lakhs.The recession has brought down the prices to an affordable level which are expected to continue into the next year.
The recessionary trend has been good in the sense that there is more stability in pricing compared to the boom period when the prices have gone sky high.
Courtesy : HINDU - 26th Dec 2009
|
| PROPERTY EXPO ON IN KOCHI |
| 19/12/2009 |
Forty Five builders are participating in this years property expo conducted by CREDAI kerala division.Five home finance companies are having the presence showing the vibrancy in current market.
The builders believe that the tough times are ending and its right time to invest as the crisis is expected to give way for next price hikes by mid 2010.Najeeb Zacharia, President CREDAI Kochi was confident that the market os definitely better now and the recent gloom brought about by Dubai World's debt is not going to affect the property market here.
|
| IDBI joins the Home loan rate war with 8.25% scheme offer till Jan 2010 |
| 18/12/2009 |
|
The leading state owned finance company IDBI has come up with a new scheme for floating rate loan.The borrowers will be charged 8.25% for initial two years and there after floating rate at that period will be applicable.
The should help the small ticket volumes to get a boost with financial Year ending around the corner.With the heavy cuts and fabulous offers in the market from builder's this is expected to help boost the business on a mutually beneficial terms.
|
| Home loan rates dive |
| 19/09/2009 |
For those planning to take a loan to buy their house, there is good news. Several banks have slashed home loan rates recently. Again.
Bank of India has come up with a festive offer called Star Home Loan, which can be availed till December 31. For a loan of up to Rs 50 lakh, the rate of interest will be 8.50 per cent in the first year and 9.25 per cent in the second.
For loans of Rs 5 lakh-1.5 crore, the interest in the first year will be 9.75 per cent and 10.50 in the second. From the third year, the then floating rate of the bank will be applicable in both the cases.
Union Bank of India has launched a special festive offer on home loans. As per the offer, for home loans up to Rs 50 lakh, the bank will charge a fixed rate of 8.50 per cent for the first three years. From the fourth year, the interest will be a floating rate linked to the benchmark prime lending rate of the bank for all tenures.
Says R.K. Nikra, chief manager, "The offer will be effective from September 1 September till October 31."
A few days before the UBI offer, ICICI Bank launched a special offer for all new home loans. As per the new offer, the bank will charge an interest rate of 8.75 per cent for loans up to Rs 20 lakh. For loans of Rs 20 lakh - 50 lakh, the new interest rate is 9.25 per cent.
Borrowing above Rs 50 lakh will attract 9.75 per cent interest rate. Effective from August 20, the scheme is available only for a limited period of time, said an ICICI spokesperson. Apart from the special offer, ICICI Bank's home loan interest rates are in the range of 9.25-11 per cent.
Both theses offers came within weeks of the State Bank of India (SBI) cutting rates by 50 - 75 bps on high-value home loans. Earlier, SBI had launched a new home loan scheme offering 8 per cent for 1 - 5 years, depending on the amount, with zero processing fees, as against an average of about 10 per cent charged by others.
Among other players who have cut home loan rates are Punjab National Bank , housing finance majors LIC Housing Finance and HDFC.
|
| Cheers for Home loan Buyers.. |
| 19/09/2009 |
The government on Thursday sought to bring cheer to the common man even as the country faces the prospect of a slowdown in the economy due to inadequate monsoons and external financial crises.
The Union Cabinet announced interest rate subsidy of one per cent for housing loans up to Rs 10 lakh (Rs 1 million) and earmarked Rs 1,000 crore (Rs 10 billion) for the scheme.
The subsidy of one per cent will be available for first 12 EMIs (equated monthly installments) on loans up to Rs 10 lakh for houses not costing more than Rs 20 lakh (Rs 2 million), Information and Broadcasting Minister Ambika Soni said after a meeting of the Cabinet.
The Cabinet approved the scheme for providing interest rate subsidy on houses in pursuance with the announcement made by Finance Minister Pranab Mukherjee while replying to the debate on the budget for 2009-10 in July.
The interest subsidy will be routed through the commercial banks and the housing finance companies registered with the National Housing Bank, the minister said.
|
|
|
