*****Real Estate Designers*****

Real Estate Designers offers totally innovative solutions for your software development, Internet programming, real estate web design and hosting needs. Our service includes domain name registration and real estate web design. Real Estate Designers provides the complete solution including design, application development and marketing.

SBI and ICICI Bank Reduces Its Rate Of Home Loans

To add more colour to the festive season, State Bank of India, has reduced interest rates on home loans by 0.5-1 per cent for different maturities. The new rates will be applicable for all new loans sanctioned on or after October 8. The scheme is valid up to December 31. Now, those seeking home loans from SBI will pay cheaper interest rates depending on loan maturities and the amount of loan. There is a further advantage for those who have their salary account with the SBI. They can avail discount and further discount if a higher margin is available. The SBI has also cut down interest rates on vehicles and personal loans. Thus, it is bonanza time for customers looking to get new homes this festival season.

source: mybangaloreproperty.com

Second Hand Flats Becoming More Popular In Chennai

Real estate is growing in all the metros but Chennai is not getting its fair share. This has led to stagnation in the residential market. Simultaneously, this has led to buyers opting for second hand flats as investment options. Mr Sanjay Chugh, VP - Transaction Mgmt Services, Jones Lang Lasalle Meghraj says, The buyer feels that if one is to go for a second-hand apartment on a resale basis there are two things: capital investment is much cheaper, also the registration cost which is slightly higher and the refurbishment cost, if they are getting at the location they are looking at it works out quite cheap.Besides this, second hand flats are 30 to 50 percent cheaper than newly constructed apartments. The profession is also quick and the banks readily finance resale flats as old as 35 years. So in a way it becomes best option for the investors. Although there is a huge demand for resale flats, experts say supply is not even 10% of demand.

source: mybangaloreproperty.com

One Of The Largest Investments Made By JP Morgan

Realty focused private equity funds are committing big money, when it comes to project financing. And so far JP Morgan's USD 360 has made its largest investment so far in an IT park in Navi Mumbai. The fund will invest Rs 100 crore or over USD 25 million in the development. It is said that JP Morgan's property fund will buy 40% in the 4.5 million sq ft IT Park and will be developed by B Raheja Group. The B Raheja Group recently received an investment of USD 45 million from US-based investment banker Wachovia, for two projects in Bangalore. And JP Morgan's realty fund has invested USD 10 million each in Hyderabad-based Modi Developers and Chennai based Arihant Foundations for middle-income group housing. The fund is also about to finalise an investment in an IT-***-residential complex in Kolkata's new town Rajarhat with Unicon Builders

source: mybangaloreproperty.com

Real Estate Biggies To Compete For Prime Plot near Kolkata

A prime 5-acre plot on the edge of EM Bypass Expressway has caught fancy of Indian real estate giants. Soon, big names including DLF, Reliance Group, Emaar MGF, Indiabulls, Bengal Ambuja Realty, and Paharpur Cooling Towers will be seen competing for it. Kolkata Municipal Corporation (KMC) will put the project to auction. The location of the property is its biggest plus. It is located opposite the Science City Infotainment Complex. Also, it is at a stone throw distance from the ITC Sonar. KMC will offer it on a 99-year long term lease through an auction. Most probably, the land will be used for development of an exclusive commercial-***-residential complex. This region is buzzing with developing commercials and there is huge demand. To add to this, the plot is on the edge of a prime expressway that passes through fast flourishing New Kolkata on the eastern border of the city. 57 corporates have bought the request for proposal (RFP) document containing the terms and conditions! of the auction. The last date to buy the RFP was 5 October whereas the last date for submission of bids is October 15. Reportedly, KMC will use 50% of the proceedings from the auction to set up an art gallery in Rajarhat.

source: mybangaloreproperty.com

Grand Nirvana Resort, The Latest Affiliation To RCI

The Grand Nirvana Resort in India joins RCI, a global leader in leisure real estate. This addition has made RCI Group, the International leader in vacation exchange, as now it has 72 affiliated resorts in India. The RCI Group is proud that Grand Nirvana, a new resort in Allepey, Kerala, has selected RCI to support its vacation exchange. Speaking on the affiliation, Radhika Shastry, Managing Director, Indian Subcontinent, Group RCI said, We are delighted to add a new affiliate in Kerala which expands our footprint in this popular tourist destination.The Grand Nirvana offers extensive amenities including a multi cuisine restaurant and a wellness spa. Another highlight of this resort is its cruising villa, a double-decked traditional Kettuvellama . Grand Nirvana Resort becomes the ultimate tourist destination as it offers wonderful overall experience.

source: mybangaloreproperty.com