free web site traffic and promotion

Tuesday, 22 March 2016

FAR revision not for residential projects: Noida



Noida Development Authority on Wednesday said private builders cannot increase floor area ratio (FAR) of any apartments of the city. The Authority clarified that the proposed FAR was for industrial and institutional units, and not for residential projects.

The decision has been taken in a meeting with home buyers, who had objected to increase in FAR. Additional Chief Executive Officer PK Aggarwal gave verbal assurance to buyers on Wednesday that the FAR in housing will not be increased. Authority would issue advertisements in this regard to clear the misgivings.

The decision is an outcome of home buyers’ strong protest against the Noida Authority. Revealing detail to The Pioneer, president of Unitech Unihomes Buyer Association and Founder of NCR Home Buyer Group Navneet Sarin said that Noida Authority has invited objection from public against the increased FAR on February 2 this year. Following which as many as 500 homebuyers from several sectors have registered their grievance with Noida Authority.

Noida Authority called them and convened a joint meeting at Noida Authority office. There were around 30 representatives of different housing apartments who were present during the meeting.

A home buyer, Alok Trivedi said private developers should not be given permission to increase FAR. He said that if a realtor is given permission for increasing FAR, he uses that extra space to erect buildings and sell it to other buyers. It always causes problems as they generally occupy the areas that were earmarked for common usages.

Sarin, who is lawyer by profession, said that the increasing of FAR in existing projects is not legal. If it is increased, it is against the norms of UP Apartment Act 2010 Section 4 (4). “ACEO PK Aggarwal assured home buyers that the advertisement (which NOIDA has issued in newspaper for FAR) does not apply to group housing society but the objections were sought from buyers. Home buyers have asked authority to issue a clarification advertisement in the same newspapers in which the previous one was given. Aggarwal has accepted the same,” he added.

After listening to their grievances, Agrawal has assured them that proposed increase of FAR is for industry units and it won’t be applicable for residential projects.


Resource: http://www.dailypioneer.com

Residential projects targeting middle class winning in Egyptian market: Aqarmap founder



Emad Al-Masoudi, the founder of real estate search engine Aqarmap, expressed his optimism in an interview with Daily News Egypt regarding the construction sector and discusses what is needed to overcome challenges confronting the market.

As a search engine, Aqarmap allows users to search thousands of properties from real estate companies and private owners.

Aqarmap features properties from 35 companies, including Amar, Peter Home, and Abraj Misr. The search engine receives 1m visitors per month.

The real estate market has faced many challenges over the past five years. How can the sector restore its growth and activity?

The real estate sector does not need any further incentives. All I think it needs is more security, stability, and visibility in the market. For example, the tourism real estate sector in Red Sea cities that targets only foreigners and not Egyptians is suffering; buyers and investors from Russia, Italy, Germany, the UK, and other European countries were snapping up real estate units as vacation homes in Egypt. Nowadays, this segment of the market is almost non-existent due to the security situation. Security and stability of the market are the only way to make this segment return to the Egyptian market, bringing more hard currency that is desperately needed in this difficult time.

How did Aqarmap succeed in overcoming the previous recession from which we are still suffering the repercussions?

There is no doubt that the most difficult years in my company’s history were 2012 and 2013 as Aqarmap was still in its founding phase. The Egyptian market was suffering from security threats and economic turmoil, and this turmoil further increased the difficulty of building the company and its expansion. We passed through this period like many other companies: we relied on long-term policy and sustainability, looking to achieve our goals further into the future rather than a shorter timeline which was no longer appropriate. I believe the Egyptian market is a large and promising market.

Do you think the Egyptian real estate market price index will continue to rise by 20-30% annually?

There is a correlation between the increase in real estate prices and the value of Egyptian pound, and we expect real estate prices to increase rapidly if the Egyptian pound value continues to decline against the US dollar.

Do you think the current Egyptian property prices are suitable?

This issue is relative and depends on the buyer status and the targeted segment. So the price of luxury property is considered suitable for its target of Egyptians working in multinational companies, whereas medium-level property price remains relatively high for its target demographic: those working in public and private sector companies in Egypt. As for economic housing, unfortunately the price is too high for its target demographic who suffer from a lack of financial resources and financing options.

Which segment was considered the most in demand during the last period? Do you think the demand for luxury housing will decline?

Medium-level housing is the most in demand currently; in fact, the demand exceeds supply which has caused an increase in prices. Regarding luxury housing, the demand is proportional to supply, so the price of luxury housing is stable and will not decline.

As for the economic housing segment, demand notably exceeds supply, so the prices are often beyond the reach of the average buyer in this demographic.

What is the best investment opportunity in Egypt, and how can one take advantage of it?

Residential projects that target the middle-class are a winner in the Egyptian market, whether these projects are in Cairo, Alexandria, or in other governorates.

Do you think Egyptian laws help to achieve the greatest sales or create obstacles?
The Egyptian Investment Law is smooth, practical, and helped us to work in the market easily. However the recent changes in banking transactions regarding the US dollar have created some obstacles, but we are working to find practical solutions to solve these obstacles.

Do you intend to establish a real estate development company or to be listed in the Egyptian stock exchange in the future?

We do not plan to establish neither a real estate development company nor a real estate marketing company; we are providing an advertising platform for real estate development and marketing. We do not have any plans to be listed in the stock market at this time.


Resource: http://www.dailynewsegypt.com

Puravankara Projects to launch residential project in Pune

Puravankara Projects today announced its foray back into the Western Region with a proposed development of 30 acres in Mundhwa, Pune. Purva Silversands, the first phase of development across 20 acres is being launched as a unique Integrated Lifestyle District with a design theme that the city of Pune has hitherto not seen before. Purva Silversands is an iconic residential development with the best in class facilities, providing a resort type lifestyle to homebuyers in Pune. The project has been designed to bring the beach to their doorsteps, with a promise to experience "Life like it's a holiday". fine luxurious homes around a sprawling manmade lagoon with a wave pool, snorkelling pool, koi pond, hammocks, palm trees combined with cafes, restaurants and boutique shopping make Purva Silversands a unique lifeStyle destination, and one of the most attractive investment opportunities in the region.

Having started the 40 year journey of Puravankara in Mumbai back then, Mr. Ravi Puravankara, Chairman, Puravankara Projects Ltd expressed "Our foray bock into the Western Region is a "Home Coming” for us. We aspire to make a difference in the western cities with our unique theme based projects that offer a lifestyle living. Our first project Purvo Silversands is planned In the city of Pune which is ranked amongst the 50 fastest growing urban cities in the world. A thriving job market, high rental growth and the Government's thrust on Improving Infrastructure makes Pune a very promising market, with on immense need for high quality homes.”

This unique property offers a variety of lifestyle residential apartments - 1,2,3, 4 8HK (apartments, Penthouses, Garden apartments, along with a Cafe's, Restaurants and Boutique shopping overlooking the river promenade amidst lush landscapes.

Puravankara has opened the bookings at an attractive base price of Rs. 4995 per sq foot making it one of the most sought after real estate investments in Pune.

Ashlsh Puravankara, Managing Director, Puravankara Projects Ltd commented, "Our intelligent designs focuses on spacious well-crafted apartments set In on Integrated Lifestyle District. Situated in eastern Pune, Mundhwa hos been strategically chosen for this project as it is emerging as a prime resident/al location for the business district of Kharadi. Mundhwa hos a judicial mix of residential, business, leisure and support services. Upcoming Infrastructural developments have given the required Impetus, for Real Estate in this region to flourish.


REsource: http://www.indiainfoline.com

Friday, 18 March 2016

Best Apartments: The Pointe Apartments

The Pointe Apartments are situated among the rolling hills in Fairfield with a lovely view of the city.

Daily Republic readers chose the apartment complex because of consistent customer service, according to Donna Rivera, business manager for The Pointe Apartments.

In addition, they have a unique concierge program called Club Woodmonte.

“The program is built around making living here easy as possible,” she said.
Among the many helpful possibilities offered are gift-wrapping, complementary hooks for hanging photographs and mail pickup when tenants are on vacation, to name just a few things.

“No other complex does this,” said Rivera.

The complex was built in 1989 with 296 units. The units are one bedroom and two bedrooms with four different floor plans. Amenities include two outdoor pools and one indoor pool. The apartments are pet-friendly.


Resource: http://www.dailyrepublic.com

Are Micro-Apartments a Good Solution to the Affordable-Housing Crisis?

uring a recent tour of Carmel Place, New York City’s new micro-apartment complex, Ammr Vandal, project manager for nArchitects, explained how design can generate a sense of roominess in even the smallest spaces. We were standing in the building’s three-hundred-and-two-square-foot second-floor model unit, one of its “mid-size” micros. The other apartments range from two hundred and sixty to three hundred and sixty square feet, all of them featuring a full bath and a compact but complete kitchen. High ceilings are essential, Vandal said, as is lots of natural light; every unit at Carmel Place, which is in midtown Manhattan’s Kips Bay neighborhood, has a large window that opens to a Juliet balcony. Vandal’s firm also designed the entry areas to be distinct from the living space. “How do you make something feel bigger? By making it smaller, by dividing it up,” she said. Even the light reflecting off the glass-tile backsplash in the kitchen was meant to play a part in extending the space.

The complex was conceived out of adAPT NYC, a design competition hosted in 2012 by Michael Bloomberg, then the Mayor. The aim was to pilot a new type of housing for the city’s growing number of small households. Micro-apartments and tricked-out tiny houses have become trendy elsewhere in the U.S., but Carmel Place has been controversial in advance of its opening this spring, partly because, in New York, small living quarters have historically gone hand in hand with substandard conditions. In 1987, the city passed a law forbidding the construction of apartments smaller than four hundred square feet, but Bloomberg waived the rule for Carmel Place’s fifty-five units, prompting criticism from those who feared that cramped quarters would once again become normal. “It’s important that it’s illegal to live in a place that small,” the writer Fran Lebowitz said, in a memorable rant at McNally Jackson Bookstore, in Soho, soon after the design competition launched. “It’s important because laws show the values of the country, of the city. So we say, we have a value: our value is that people shouldn’t live in a shoebox. It’s not good for human beings.” Historical examples to support her case abound. In New York during the nineteenth and early twentieth centuries, numerous immigrants squeezed into dark tenement buildings, and a family of four might have occupied only two hundred and fifty square feet. In the nineteen-seventies and eighties, single-room occupancies (or S.R.O.s), once a reputable form of accommodation for newcomers, became mismanaged and fell into varying degrees of squalor.

Enter Carmel Place, where everything seems to be stainless steel or glossy white. The unit that I toured was outfitted with custom-made furniture, including a knee-high coffee table that sweeps open to become a waist-high dining table, and a couch designed to collapse below a stylish Murphy bed. The furniture is part of what Tobias Oriwol, the project developer for the builder, Monadnock Development, highlighted as the complex’s “hotel-style experiences.” Also included are weekly cleaning and an app-based butler service called Ollie (short for “all-inclusive”), which can arrange pickup or delivery of dry cleaning and groceries.

The amenities may make Lebowitz’s concerns about the apartments’ confines seem rather misplaced—should we really get worked up about a small living space when it comes with a butler? The carefully managed, market-friendly optics at Carmel Place aren’t geared only toward relatively well-off renters, though. They’re part of a larger strategy by city officials to leverage the trendiness of tiny into a new affordable-housing model. In cities like Boston and Washington, “micro-luxury” developments, as we might call them, have typically been marketed to young, single professionals who want to live in the center of the city. But, like many new rental constructions in New York, Carmel Place will include designated affordable units—fourteen of them—which don’t come with Ollie or custom-built furniture. These apartments will rent for either nine hundred and fifty dollars or fourteen hundred and ninety dollars, depending on the renter’s income. By comparison, the market-rate units will rent for twenty-four hundred and forty dollars to twenty-nine hundred and ten dollars—which includes Ollie, Wi-fi, cable, and, in some cases, furniture. (These market-rate units boast some of the highest prices per square foot in Manhattan.) The building will also include eight Ollie-equipped, furnished units for homeless veterans, funded by Section 8 vouchers. That the other low-income units won’t have these luxury amenities lends some weight to Lebowitz’s critique.

It’s apparent that New Yorkers at the lower end of the income spectrum are in desperate need of affordable housing. According to the latest America’s Rental Housing report, which is published biannually by the Joint Center for Housing Studies of Harvard University, renters in the New York-Newark-Jersey City metro area increasingly suffer from disproportionally high housing costs. Nearly half of renters in these cities with annual salaries between forty-five thousand and seventy-five thousand dollars are “cost-burdened” (meaning they spend more than thirty per cent of their incomes on housing), as are three-quarters of renters who earn thirty thousand to forty-five thousand dollars annually. Similarly, a new study from the Brookings Institute on urban income inequality reports that income inequality has worsened in many cities over the past nine years, and that a relationship exists between inequality and housing affordability; the more unequal the city, the more expensive housing is for low-income families.
As a result, cities have been experimenting with less expensive micro-units. In Providence, architects have converted an empty mall into forty-eight micro-apartments that start at five hundred and fifty dollars a month. In Austin, a designer has come up with Kasita, a building of movable two-hundred-square-foot pods, which he envisions as a new type of affordable housing. New York City officials, too, emphasized affordability, not luxury, when they first pitched adAPT NYC. Robert Steele, the Deputy Mayor of Economic Development, called the project a “new model for development of affordable housing.” Bloomberg put it this way: “People from all over the world want to live in New York City, and we must develop a new, scalable housing model that is safe, affordable, and innovative to meet their needs.”

So why, then, did New York end up with a building oriented around micro-luxury, rather than going entirely micro-affordable? The question seems especially pertinent because the city donated the nearly five-thousand-square-foot parcel of land on which Carmel Place sits. I asked Ingrid Gould Ellen, the director of the Furman Center for Real Estate and Urban Policy at New York University, to offer some insight into the city’s approach. While micro-apartments are “a potentially important source of dedicated affordable housing,” Ellen told me, “you could make an argument not to start there.” She cited the early backlash against the idea, and the city’s history with S.R.O.s, in which a safe option gradually became a symbol of urban blight. “The S.R.O. model became stigmatized,” she said. “If micro-units become a form of low-income housing only, it becomes stigmatized.” In other words, going that route might have risked damaging the micro brand among those who seek both market-rate and low-income housing. The observation subtly underscored the importance of optics when it comes to small apartments. An affordable “shoebox,” as it were, was much more likely to be controversial than an expensive one.

In theory, the tension between low-income and high-end micro-units could be resolved by design. Both the luxury and the affordable-housing apartments at Carmel seem, at first glance, to be united by the idea that, in a city where space is extremely limited, proper design intervention can, like magic, create new space. The thought is seductive. In the model unit, every corner has been trimmed of excess, and the living spaces do feel larger and airier than their square footage suggests. But the luxury extras complicate the equation. As I toured the model unit, the futuristic furniture seemed less like a high-end indulgence and more like an essential ingredient. Moreover, despite the design elements and amenities, the model units seemed best-suited to young singles who work long hours and have the means to eat and socialize outside of their homes, or to professionals with houses outside the city who need a place in town a few nights a week. But what about inhabitants who can’t afford to make the city an extension of their living space? “We don’t know the answer to that question,” Ellen told me, before adding, “I don’t think there is any evidence out there that people are harmed living in spaces smaller than four hundred square feet.”

There are also questions about whether such apartments are a sound approach to addressing the affordability crisis. “It might not really work,” Alan Berube, Deputy Director and Senior Fellow at Brookings, told me. Low-income renters are most often families with children who need larger apartments, he said, adding, “More supply is better, but we shouldn’t kid ourselves that micro-apartments alleviate the burdens low-income renters are facing.”

In New York, officials see it differently. “We have more seniors and single-person households than at any time in our history, which is why we are taking a hard look at offering more flexibility in the size of affordable housing that is built,” Melissa Grace, the spokesperson for the Department of Housing and Preservation, wrote in an e-mail. Last fall, the city introduced new zoning regulations that would, among other things, remove the four-hundred-square-foot minimum. The measures, which will come before the City Council in March, would retain density regulations that prevent another entire building of micro-units, but would lay groundwork for micro-apartments to be incorporated into market-rate and low-income multi-family buildings.

The demand appears to be there. To determine who gets Carmel Place’s fourteen subsidized units, the city held a lottery in the fall. Over the past few years, such lotteries have seen record application numbers. In 2014, nearly fifty-nine thousand people applied for a hundred and five low-income apartments in Greenpoint, Brooklyn, and nearly ninety-three thousand people entered a lottery for nine hundred and twenty-five middle-income units at Hunter’s Point South, in Queens. People didn’t seem to be dissuaded by Carmel Place’s comparably small apartments—sixty thousand people applied. In a city where many pay half of their income or more on rent, about a thousand dollars a month for a brand-new room of one’s own—or a shoebox of one’s own, as Fran Lebowitz might put it—seems, on its face, like a phenomenal deal. A few tenants will soon find out whether that’s the case.

Resource: http://www.newyorker.com

Which Markets are Best For Building Apartments This Year?

Analyst Rick Wilson of Axiometrics will be giving his take on good places to build apartments in a webinar on Thursday, March 24, at 2 p.m., Eastern Time.

Wilson will also be sharing his thoughts on markets that will be attracting jobs and younger households, whether apartments should be built in the suburbs or urban areas, and where he sees rents heading.

He’ll also share his three- and five-year forecasts to help with planning for real estate professionals who specialize in apartments.

The webinar is free and is sponsored by AppFolio, providers of web-based property management software. REALTOR® Magazine believes the market forecasts will be useful to its readers and is passing along information about the webinar, but its promotional efforts do not constitute an endorsement of the content.

Resource: http://speakingofrealestate.blogs.realtor.org

Will these apartments have the best views in Liverpool?

 Work to build luxury apartments opposite The Three Graces has begun - potentially offering the best views in the city .

The Strand Plaza development, set within the UNESCO World Heritage site, has been sold to local developers Primesite who are in charge of the project.

The existing building, situated on The Strand, will be transformed to house a number of one and two bedroom apartments and is one of the last plots on the strand to be redeveloped.

Bobbie Johnson, director of Primeside Developments said: “They say if you can’t beat them join them… and while you’ll never beat the three graces, at Strand Plaza you really do join them. The site could not have a better uninterrupted view of our stunning flagship architecture.

“Being Liverpool born and bred, I’m delighted that we are delivering a residential scheme that is smack bang in the middle of everything that our city has to offer and as a company we are proud to be a part of it.

“The apartments will live up to their location in terms of quality which is only bettered by the changing view outside. The city is going through yet another incredibly exciting time and any resident of Strand Plaza will be there to see every minute of it.”

Resource: http://www.liverpoolecho.co.uk