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A realty report released by Pune-based Gera Developers, which surveyed 1685 projects across the city, indicates that till end of December 2011, there were 178,775 apartments at various stages of construction, of which around 20 per cent (36,124) were unsold. The comparable percentage in June 2011 was 22 per cent.
According to the Pune Realty Report 2012, the maximum number of unsold apartments – 58 per cent – is in the sub-1000 sq ft range, while 81 per cent of the stock is in the less-than-Rs 50 lakh cost bracket. The survey, which covers 20 micro-markets across the city, shows that the average price per sq ft ranges from Rs 2199 in Chakan to Rs 4961 in Baner. It also indicates 11.63 per cent appreciation since June 2011 in the average price per sq ft across the city.
The report places the highest number of new launches in Wagholi (3125), followed by Sinhagad Road, while the IT hub Hinjewadi ranks penultimate with 702 new units. Summarising the Pune market scenario, Mr Rohit Gera, Managing Director, Gera Developers, says, “It is evident home buying hasn't come down and the real estate sector is supported by active demand participation.”
Xylem India's pump industry products
Xylem India has expanded its building services offering with two new packaged system products for pump industry. The HVAC and Fire Skid Systems are designed to help facilities limit energy consumption, lower lifecycle operating costs, and enhance reliability.
The primary-secondary and primary variable technology deployed in the HVAC and the Fire Skid systems can deliver energy savings of 25-30 per cent, apart from the saving on piping, civil engineering and installation costs.
With water and energy conservation becoming mandatory, Xylem's system is well-suited to support eco-commercial buildings. The company's Bell & Gossett and Lowara brands provide energy-efficient systems for commercial buildings.
Xylem has introduced a packaged Bell & Gossett HVAC skid system specifically designed for chilled water systems in a commercial building. The system will minimise installation time, reduce material costs and improve the quality of assembly. Xylem is also introducing its Lowara Fire Fighting Skid System. Suited for local fire TAC requirements, it includes pumps, valves, switches, controls, tank, and engine, mounted on a single baseframe.
Arthveda funds with Care Ratings
Care Ratings will rate some of the projects in which Arthveda Fund Management Pvt Ltd has invested in Tier-II and III towns, according to a press release from Arthveda. ArthVeda decided to opt for rating to enhance investor confidence. The rating isn't meant as pre-transaction advice to the AMC, but to provide additional transparency to the fund.
This will benefit ArthVeda's development partners by streamlining their projects, while fund managers will also be able to monitor investments efficiently. As part of the agreement between the fund and the rating agency, Care will also provide research reports on some of the cities that its fund would invest in.
ArthVeda, a subsidiary of Dewan Housing Finance Co, was established in 2005, and was earlier known as DHFL Venture Capital India Pvt. Ltd. ArthVeda's first fund, Dream Fund 1, focused on commercial and residential real estate and has exited six of 13 investments with IRR ranging between 20 and 45 per cent. Arthveda's second real estate fund, ArthVeda STAR Fund of Rs 200 crore, with a greenshoe option of Rs 100 crore, invests in greenfield residential projects. The investment will be spread across 30-35 projects in Tier II/III cities across India with a ticket size of Rs 5 crore to Rs 20 crore.
DLF's scheme for government staff
DLF has announced a special concession scheme for government and defence staff purchasing residential units in its projects, according to a press release from the developer.
The discounts range from 3 to 5 per cent on residential developments in Jalandhar, Panchkula, New Chandigarh, Bangalore, Chennai, Shimla and Kochi. DLF is creating nine premium residential developments across these seven cities.
From a case-to-case basis, discount value varies from Rs 1 lakh to Rs 20 lakh. The offer is valid only on direct bookings from January 21 to March 15, 2012.
The release, quoting Mr Mohit Gujral, Vice-Chairman and Managing Director, DLF India Ltd, said, “This special rebate for the people in the service of the nation is DLF's tribute to their services. The scheme aims at encouraging end-users to be a part of these ongoing developments.”
The projects on which the scheme is applicable are: DLF valley, Panchkula; Hyde Park Estate, New Chandigarh; Park Place, Jalandhar; Samatara, Shimla; Commanders Court, Chennai; Gardencity, Chennai; Maiden Heights, Bangalore; Riverside, Kochi; New Town Heights, Kochi.
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