CREDAI Kochi Is organizing the Kerala Property Expo, one of the biggest and finest of its kind at Kochi. The property Expo will be held at the Marine Drive, Kochi, from 6th to 8th of August, 2010, 10 am to 8 pm.
The next edition on Kerala Property Expo 2010 will take place in the middle East and Kochi during November- December 2010

The builders in Kochi are gearing up for yet another property show. The exhibition is from the 7th of August to the 9th, at the Jawaharlal Nehru International Stadium. It is expected to go down well with homebuyers, as the builders believe that the market is no longer on a downslide. A majority of the 80-member Kerala Builders Forum will be showcasing their projects.

With less than a fortnight for schools to reopen after the summer vacation, there are families scouting for flats and houses on rent in Kozhikode.

Officials transferred to the city and parents trying to live near the schools of their children make up most of the clientele for houses at this point of time. Low rent is one of their main considerations, especially in these times of economic slowdown.

The most sought after are flats with areas in the range of 600 sq.ft to 1,000 sq.ft. One- and two-bedroom flats in the city and houses on the outskirts are much in demand.

Builders hope that a stable government will be formed at the Centre after the Lok Sabha election results come out on Saturday.

Stability and proactive policies to help the real estate sector are what they expect from the new government.

The recent stock market rally has helped to win back a lot of confidence in the market. The fear of recessionary trends has receded a bit with a small momentum in the real estate sector.

There are a number of expectations from the new government, says M. D. Jairaj, president of the Kerala Builders’ Association. The first is a correction in the cost of materials, which is the only way to create a momentum in the sector. The government has not taken a strong stand in correcting the prices of steel and cement that had spiralled up during the boom time. Now, even more acutely than before, the high prices make a major dent in profits.

The buyers will have a definite edge when material costs, which make up about 25 per cent of the cost, come down. While the labour costs, which are the highest in the State, will not decrease, land prices may see fluctuation. In Kerala, land prices have seen some correction in certain areas, but there are no drastic changes. Unlike elsewhere in the country, land is scarce here, the builders say.

Though the government has undertaken a huge exercise to fix fair price values on land to ensure better revenue from land registration, the task have been pending for the past five months. As land registration has come down in the past eight months or so, a positive approach by the government can help it earn higher revenues.

Awareness of clean energy and green buildings does not seem to reach the common man in the expected way. For many, the easiest way to build a house is still using the conventional construction methods.

The Indian Institute of Architects (IIA) Kerala chapter has stepped in to change this perspective. Its Green-i programme towards this end was launched in Kochi on May 9.

Shashi Tharoor, former UN official, writer and Congress candidate for Thiruvananthapuram in the Lok Sabha elections; Oscar award winner Resul Pookutty; and singer Usha Uthup are the Green-i brand ambassadors.

Only when ordinary people understand the ideas behind green concepts will they take to the new methods, says Lalichan Zacharias, chairman of the IIA Kerala chapter.

A beginning has to be made to save energy. It may be a small thing to start with — as carpooling or using the stairs instead of the lift. “We have to make people realise that these things do matter a lot,” Mr. Zacharias says.

Kochi is among the 10 new cities for which the National Housing Bank (NHB) has completed work on a price index for residential property.

The NHBResidex, as the price index has been named, is on the lines of other price indices used in the country. With its twice-a-year updates, the NHBResidex promises planners, government and the public a better perspective on the real estate business in Kochi and its surrounding areas.

Kochi and nine other cities have been included in the index in the second phase of the ongoing and ambitious programme to bring all 63 cities covered by the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) within the purview of the property price index.

The inclusion of Kochi, along with Hyderabad, Faridabad, Patna, Ahmedabad, Chennai, Jaipur, Lucknow, Pune and Surat, in the second phase of the NHBResidex preparation, is recognition of the city’s rising prominence in the realty business in the country.

A series of stimulus packages announced by the Reserve Bank of India is expected to shrug off the gloomy picture in the real estate and financial sectors. One of the major advantages of the packages is that homebuyers can look forward to borrowing at reasonable rates.

All nationalised banks have come up with tempting offers, although they have fixed a timeframe for some of these.

Such offers are highly beneficial for the salaried class and businessmen. Borrowers have to produce either the salary certificate or Income Tax return since banks have tightened norms.

The loan is determined based on the income of the homebuyer.

The repayment capacity and security are looked into before the loan is sanctioned.

Under the stimulus package, the State Bank of India and other public sector banks have been offering loans up to Rs.5 lakh at a rate of 8.5 per cent with rate reset every five years from the date of disbursement of the first instalment.

For loans above Rs.5 lakh and up to Rs.20 lakh, the rate is 9.25 per cent.

This is also a fixed rate with reset every five years from the date of disbursement of the first instalment.

However, the customer has the option at the end of five years to convert the fixed rate into floating rate.

The rate will be that prevailing at the time of conversion. The State Bank of India has come up with a “SBI Happy-Home Loan Offer” for loans sanctioned after February 2009 and partially disbursed by April 30. The rate of interest is 8 per cent for a year.

The interest rate will be reset after one year as per the contracted rate at the time of sanction of loan depending on the fixed and floating rates, total amount and the period of loan.

A slew of infrastructure projects are on the anvil in Kochi. K.S. SUDHI goes through a few proposals.

The Cities Development Initiative Asia (CDIA) is the latest to pump in money. The initiative, assisting Asian cities to bridge the infrastructure investment gap, has offered Rs.450 crore. The money will be added to the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) aid. Kochi and Chennai have been selected in the first phase from Indian cities in the race for funds.

A CDIA team, led by Nadir Ehsan, Senior Municipal Development Specialist, was in Kochi recently. The areas in which the agency’s aid will be utilised will be finalised after a pre-feasibility study. Environment, traffic, road design and urban planning experts will carry it out. The civic authorities hope to use the aid for creating a smooth and efficient urban road transport system. They have identified “monumental flyovers” which will serve as the most functional system to solve traffic jams.
Among those to be taken up under various other infrastructure schemes are five roads projects, three railway overbridges at level crossings which hold up traffic and a premium bus service.The Kochi Corporation hopes to collaborate with the State government and the Transport Department in the Special Purpose Vehicle to be formed for managing the bus service.

An initiative from Infrastructures Kerala Ltd. (InKEL) to set up construction solutions and services parks in four key locations in the State comes at a turning point in Kerala real estate development as property developers come to grips with the unfolding recession around the world. InKEL has been launched, as its name conveys, to give a big boost to infrastructure development. The new entity has come out with big plans for better road connectivity, industrial parks and regeneration of urban areas. The plan is to bring together designers, services, materials and product providers under one roof.
InKEL will acquire around 40 hectares of land in Thiruvananthapuram, Kochi and Kozhikode initially for setting up the parks. These parks will be equipped to meet the requirements of anyone constructing a house, apartment complex or commercial complex.
The company is not satisfied with just providing supermarkets for the input needed for the construction of conventional buildings. It also plans a centre for affordable housing, using indigenous materials, techniques and designs. Green buildings too are on its agenda.

The proposed gypsum-based panel plant will require an investment of Rs.80 crore. The plant will have a capacity to produce 14 lakh square metres of the panel annually. The potential of the product is evident from the fact that the government ha s been focussing on evolving a method to provide mass housing solutions. With these, houses can be built without cement and bricks at a low cost.
These panels can be used to build walls and roofs without brick and cement. They are eco-friendly, weather-resistant, cuts building cost by 25 per cent and reduces construction time by 50 per cent.

The limited period interest sweetener announced by SBI has turned home loan market competitive, but it also raises issues. The reduced interest rate from SBI is for loans for all sizes given for a limited period up to April 30. This lower interest rate, however, will be applicable for a period of one year from the date of disbursement.
This interest rate will be reset after one year as per contracted rate at the time of sanction of loan. This will mean that the EMI (equated monthly instalment) of a home loan taker will increase from the second year as loans below Rs.20 lakh are reset at a higher four-year fixed interest rate and loans above that sum reset at the then prevailing floating interest rate.

With a golden beach nearby and a cluster of islands separated by clean, flowing water, Purakad village at Ambalappuzha in Alappuzha district is endowed with all the natural attributes to be developed as a prime tourist destination.

The State government now has unveiled plans to transform the sleepy coastal village into a showpiece destination for the information technology (IT) industry. On the cards is an ambitious project to develop the first water-theme-based IT park in the country. It will be an extension of the Infopark, Kochi.

The project, which is part of the hub-and-spoke model of IT development, will initially offer over 2 lakh sqft of built-up space including plug-and-play incubator facilities and fully developed plots. When completed, it will provide employment for nearly 10,000 IT professionals. The government has classified 33 acres of land as a Special Economic Zone for the park

Property rates have come down in some prime places. Recession has its benefits. As builders and brokers look to beat market sentiments, homebuyers should find it easy to get good deals. It is the buyers’ market now, says a land dealer.

But the irony is that people with investment interests will not buy at this time. Only those who want to build a home are interested. It is a good time to build too.

There is a definite hold on inflation, unlike in the past when the prices of building materials shot up every quarter or even month.

Enquiries about land and property are on a steady increase on web sites, says the promoter of a web site dealing in property in Kerala. Though the surge in the property business had come down, searches on the web site are increasing steadily — may be to check out any major investment opportunity or because of the fact that most of the likely investors are from the web-savvy young group.

The Kozhikode Corporation will adopt a new property tax regime for residential and commercial buildings from this year with retrospective effect from April 1, 2008. The tax system is being rationalised after 15 years.
In the existing system, property tax is calculated based on the annual rental value. The purpose of a building and its type are usually not determined. The new system takes into account the carpet area of the building.

The city has been divided into primary, secondary and tertiary zones. An area having a government or a quasi-government office, educational institution, commercial complex, market, bus station, railway station and hospital will be in the primary zone. The places surrounding a primary zone with potential to evolve into developed areas will be in the secondary zone. Areas not coming under either category will be in the tertiary zone.

The general tax rate fixed for an area in the primary zone is in the range of Rs.8 to Rs.20 a square metre (1 sq m = 10.76 sq ft) for residential buildings. Buildings in the secondary zones will get a 10 per cent concession on rates and those in the tertiary zone, 20 per cent.

Service Tax on buildings is to be exempted by the Government. Considerable reduction of Stamp Duty is also on the anvil.

New Delhi: In a pre-budget memorandum submitted to the Finance Ministry, the Confederation of Real Estate Developer's Associations of India (CREDAI) has said that on the pattern of Special Economic Zones, the government should offer exemption from Excise and Sales Tax on the building raw material, and from Stamp Duty (on first allotment) for slum area development and low cost housing projects.

The Confederation lamented that high stamp duty rates in many states were adversely affecting the housing sector. At present, the states are charging up to 15 per cent of stamp duty on the transfer of property, leading to rise in prices.

The builders' body also demanded exemption from service tax for builders developing projects on their own account.

CREDAI suggested that rental housing stock investment allowance at 20 per cent, rental income from newly constructed houses with area of each unit not exceeding 150 sqm be completely exempted from income tax for first five years and at the rate of 50 per cent for the next 5 years.

KBF expo ,Calicut on Jan 30,31 and Feb 1 at Marine Grounds, Calicut Beach

Parppidam expo at Calicut , Corporation Stadium held on Jan 24,25 and 26th.

An exhibition and interaction at Good Earth Orchard [ 24 Jan, 2009 - 26 Jan, 2009 ]
Venue : Good Earth Orchard, Kengeri

The property expo organised by Kerala Builders Forum will be held here on December 19-21 at Jawaharlal Nehru International Stadium. About 40 builders with projects all over the State are participating in the expo.

Dates: 4th 5th & 6th
Time: 10 PM - 8PM
Place: Dubai
Venue: Al Boom Village

Dates: 7th Dec.08
Time: 2 PM – 8 PM
Place: Abu Dhabi
Venue: Hotel Royal Le Meridian

The Inside Outside Mega Show (IOMS) is the largest event ever showcasing interior design, furniture and furnishings, building and construction industries. It is currently being conducted in 16 cities across India.

Kochi, Aug 25: UAE-based Lulu International Shopping Mall Group on Monday, Aug 25 announced its plan to construct a Rs 1,200 crore shopping mall in the city. Group Managing Director Yusuffali MA, while addressing the media, said the project, spread over more than 17 acres with a total built-up area of 20 lakh sq ft, would be completed by 2010.

The mall, to be constructed by renowned consultant W S Atkins of the UK, will eventually house more than 300 national and international brands of fashion, jewellery, electronics and lifestyle. It will also house a seven-theatre multiplex, family amusement centre with bowling alley and a 50,000 sq ft food court. The project also consists of a 300-room five-star hotel and a commercial tower exclusively for the airlines and aviation sector. An agreement had been signed with Marriot Hotels for running the five-star hotel, Mr Yusaffali, who hails from Kerala, said.
''This is our dream project and our plan is not to build just a shopping mall but a landmark destination for residents and tourists alike,''

The lease agreement for 11.4 acres of land, which is part of the 246 acres of land promised for the proposed SmartCity project, was signed in Thiruvananthapuram on Tuesday. The agreement was signed by Ajayakumar, Secretary, Information Technology and Fareed Abdulrahman, chief executive officer, Smart City.

Government of Kerala has published an online website to ensure transparency in land deals. The site can be accessed at [[http://www.igr.kerala.gov.in]] . This website gives one the information about the Fair Value of Land of all the villages in Kerala.

A person can zero in exactly on his/her plot to know its fair value by selecting on the screen the district, taluk, village, desam, block and ultimately, the survey number. Reports can be exported in PDF format as well.

UAE-based Holiday Group is contemplating investing Rs 1,000 crore over a period of five years in infrastructure, housing and hospitality projects in Kerala. Mr C.C. Thambi, Chairman of the Holiday Group, recently announced the commencement of the construction of a 5-star deluxe resort at Bekkal near Kasargod, which is expected to be operational by 2009. The Group is also venturing into luxury housing projects across the State and the first project will come up at Marine Drive in Kochi. The Group also plans to come up with new projects at Kadavanthra, Maradu, Kakkanad, Kalamassery and Nedumbassery.

The board of directors of Kakkanad INFOPARK has recently decided to set up three more Infoparks in the state. Two will be set up in the Alappuzha district at Cherthala and Ambalappuzha and one at Koratti in Thrissur. The new Infoparks will create 25,000 job opportunities in the IT sector. The construction work of these parks will be finished soon with a budget of around Rs 300 crore.

The Government of Kerala has decided to adopt a multiple-developer strategy for setting up the 500-acre Technocity IT township near Thiruvananthapuram in order to spread the risks associated with the project and encourage healthy competition among the developers, said Dr Ajay Kumar, Secretary-IT, Government of Kerala. The investment in land and basic infrastructure alone is expected to be around Rs. 1,500 crore. Developers can bid for parcels of land based on their requirements as currently, the plan is to offer parcels of land that are smaller than 50 acres; those that range between 50 to 100 acres; and those above 100 acres, he explained.