Dewan Housing Finance Corporation (DHFL) has hiked retail prime lending rate (RPLR) for its existing customers by 50 basis point. The increase will be effective from July 1, 2008. DHFL has also revised its interest rates for new customers who wish to avail home loans.

                                           Courtesy:- ET dated:- 3^rd July 2008

City-Based realty major Sobha Developers (SDL) on Wednesday informed the bourses that it has sold a 40% stake in an upcoming Bangalore project to a Dubai-based firm, Pan Atlantic, for $10 million (Rs 43.3 crore).

SDL sold the stake in a proposed project to develop a 1.7-million-sq ft residential township at Hosahalli in south Bangalore. The present value of the land is estimated at Rs 105 crore and forms the basis for the valuation of the deal, a statement said. "A special purpose vehicle has been formed to develop the residential township. The company expects a sales realisation of Rs 600 crore from the project," it said.

Sobha sees construction starting by the end of this year. t the end of April, the company had constructed some 20 million sq ft. and has 35 projects ongoing. It has developed 50 residential and commercial projects while the contracting division has built an additional 111 projects. As the `preferred' builder for IT major Infosys Technologies, it has about 12 million sq ft under construction for the company.

House is a necessary for each of us for the living. It’s not valuable that its own or rented but every man have a dream to live on his house who are living in rented house. But it is not so simple because there are many requirement for purchase a house first of all we have sufficient money after it the place where we want to purchase our house is suite us or not and the locality and business purpose or job area. Here we indicate some small but important point which made strong house purchasing.

1.       We must have sufficient money to purchase our dream house.

2.       The location, locality and the transportation on that place is also running on good condition & the future of that’s area also.

3.       Before buying the house we can realize that the place & locality suite us because house is that thing which is too difficult to purchase by a normal class man In one time  if by any cause or bad circumstances made to us to change the house then our earning & the capital both are effected by this.

4.       If we decided to purchase the house then first of all we can contact with the real estate consultant who are registered by Indian Government because there are many consultant are available and they are cheating many peoples.

5.       And the last there is one of the most important point is if you are making your mind to purchase your own house and you don’t have sufficient money then you have take loan from the bank for your dream house but you must decide the registered bank with less interest from other banks.

The 8-lane Expressway connecting Noida - Greater Noida to Agra promises to put the property in these twin real estate hotspots of NCR, on fast track.

Special economic zones (SEZs), hotels, and commercial and residential complexes coming up on the Noida-Greater Noida Expressway offer great scope for strong and sustained growth for all real estate segments. There are 40 sectors along the expressway that have been divided into four zones under the Noida Master plan 2021 to ensure balanced development amidst population explosion. Of the total length which is around 23 kms. three kilometers of the expressway fall under Greater Noida and the rest in Noida. The 321 hectares of Greater Noida land, which is within one km of the expressway, has been a major source of attraction for realtors, IT companies and educational institutions among others. The authorities have also planned development projects on each side of the expressway in phases to give a boost to IT & ITeS services. The impact of all these developments is clearly visible in the increasing demand for land by IT companies, triggering real estate boom in these satellite townships. "In less than two years, land prices along the expressway have jumped from Rs 15,000 per square yard to Rs 22,000-Rs 32,000 per square yard ," says Dr. Ashok K. Chauhan, founder-chairman of Amity University that happens to be a major institutional landmark on the expressway. The expressway is likely to emerge as a hot IT destination on the strength of its proximity to New Delhi and availability of quality urban infrastructure including housing. One factor that makes it an attractive destination for InfoTech is the land scarcity in the national capital leading to high prices, thus making establishment of large campuses there unviable. Explains Dr. B.P. Dhaka, COO and spokesperson of Parsvnath Developers Ltd., "With the expressway to Greater Noida offering an uncongested, pollution-free environment with world-class facilities , Noida today boasts of contemporary, efficient, and comprehensive infrastructure".

There are a host of high profile projects that have been planned by the Noida Authority including a world class sports complex with an approximate budget of Rs 50 crores with all facilities like a multipurpose indoor stadium, a stadium for athletics, a football field, cricket stadium, bowling alley and much more. Officials have hinted that Noida might host a couple of events during 2010 Commonwealth Games. Moreover, it will soon have another world class 18-hole golf course costing about Rs 37 crores. The Authority has finally agreed to have it developed over 180 acres in Sector 101 falling in Zone 3 of the Noida Greater Noida Expressway.

At the same time, Greater Noida Industrial Development Authority (GNIDA) is planning to build an IT park in the city to meet the specific infrastructure requirements of the IT industry. The park will be fully integrated, self-contained and designed to offer ready-to-use office space of international quality and social infrastructure for the IT and ITeS industries.

Noida Authority earned a whopping Rs 90 crores from SEZs in the last financial year. The IT SEZs alone promise immense opportunities. The multipurpose SEZs spread over 2,500 acres of land along the expressway are to be divided into industrial, residential, commercial and recreational facilities.

Dr. Dhaka elaborates: "Increasing commercial activity in the area has prompted big companies to open their offices in Noida. Also, a number of manufacturing units have been set up thereby fueling the demand for working professionals". The 9 IT companies, each acquiring 25-acre plots on the Noida-Greater Noida Expressway in Sectors 143 and 144, will constitute the main business area here.

Keeping in view the projected fast development along the expressway, several sub-stations, including two 220 KV stations, have been planned and Rs 500 crores earmarked for the project. "We are also considering setting up of power generation plants solely for the twin cities,." says P. C. Gupta, Deputy Chief Executive Officer, GNIDA. "For providing better connectivity, a mono-rail project on circuitous route via the expressway has been planned at a cost of Rs 3,300 crores. Another rail link from Tuglaqabad to Greater Noida via the expressway is also envisaged, for which Indian Railways has given its approval," he adds.

According to Gupta, a sewer network is being laid in advance along the expressway and a Master Plan 2021 for water and sewer has also been prepared. "Our efforts are to provide infrastructure prior to development," he remarks. Three flyovers are under construction, and are expected to be ready in 10 months. The entire stretch of the expressway will soon be wi-fi enabled. With these massive development plans, the property prospects there are quite bright, I rate it after Gurgaon.

Courtesy Realty plus

Buying a home can be a long, complicated and frightening process, and it is important to be prepared. Knowledge is power when it comes to negotiating the difficult world of home prices, interest rates and mortgage loans. For a first time home buyer, there are many factors to consider before you buy. The more information you can gather before you start shopping, the better off you will be.

Look Beyond the Price

When it comes to securing a quality mortgage loan, it is important to look beyond the interest rate to the true cost of the loan, both now and in the future. Read the paperwork, including the fine print, carefully, especially if the interest rate is below market rates. Upon closer inspection you may find that the interest rate is guaranteed for only a short period of time, or that it is subject to rise sharply in the future. Your mortgage loan may be the most important contract you will ever sign, and it is essential that you understand your rights and your responsibilities before signing on the dotted line.

In many cases it will make sense to hire a lawyer to review the mortgage paperwork for you. Many communities provide some sort of first time homebuyer program designed to help renters become homeowners, and these organizations may be able to provide the legal advice you need at a price you can afford.

Every Situation is Unique

Every homebuyer will have a different set of circumstances, and it is important for the lender to consider those factors. Some homeowners may plan to move in a year or two, and they may be able to benefit from a variable rate mortgage. Others will plan to remain in their home for decades, and those home buyers may benefit from the stability of a fixed rate mortgage and its predictable and stable monthly payment.

It is also important for those buying a first home to factor in the additional costs of the mortgage when deciding how much they can afford to pay. Things like closing costs and the high price of private mortgage insurance can drive up costs and eat into funds that would otherwise be available for home improvements, furnishings and other essentials. In some cases sellers may be willing to pay some of the closing costs, and some lenders will be able to negotiate those closing costs downward. The key is to ask those questions before the closing date arrives, and to be prepared to search for a better deal if necessary.

First time buyers should also be on the lookout for any hidden fees. These small nuisance fees can add up to hundreds of dollars on closing day, so be sure to scour your paperwork for any such fees. If you are unsure about the legitimacy of any charge be sure to ask for a valid explanation. Again, an experienced real estate attorney can provide valuable insight into which fees are reasonable and which are out of bounds.

And of course first time home buyers should not lose sight of the home itself in the quest for the perfect mortgage. Any defects should be pointed out to the seller well before the closing is to take place. The costs of every needed repair should be carefully negotiated prior to the purchase, and buyers should always follow up to make sure that all requested repairs have been made. A home is a major purchase, and it is important to make sure that everything has been taken care of before moving in.

                                      Courtesy Real estate ABC.com