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Quote of the Day

"If you have to forecast, forecast often."

Edgar R. Fiedler








 




 
Featured Property Articles

Basics of Landscape Design
George W. Vanderbilt knew exactly how to design the ultimate landscape at Biltmore Estate in Asheville, NC--hire Frederick Law Olmsted, the father of landscape architecture in America to do it. While it's unlikely that the average homeowner has the ...

Real Estate Terms – From Pre-approval Letter To Townhouse
When buying or selling a property, it always helps to have a basic understanding of real estate terms. In this on going series of articles, we take a look at definitions starting with “Pre-Approval Letter.” 1) Pre-Approval Lender Letter – a writing from ...

Smart Home Networking
Leviton Integrated Networks takes the concept of structured cabling, as practiced in demanding commercial applications, and combines it with multimedia. This blending accommodates the convergence of telephone communications, computer and Internet ...




Real Estate - Blessing To The Economy
 
Real Estate is a real blessing to the economic growth of any country. It contributes about 30% to Indian GDP both directly and directly. The last five years has shown a great rise in the real estate business. Real Estate in places like Chandigarh, panchkula, mohali has shown a tremendous growth. Real estate has a direct linkage to various other industries like steel, wood, cement etc.The growth in real estate means a simultaneous growth in all these above mentioned sectors which leads to the complete growth of the community which extends to the country as a whole. Real estate also has indirect influence on the other very important sectors like travel and tourism, infrastructure, trade and heritage of that area. Today big companies like wipro, infosys, IBM etc are expanding their business round the globe and the favorite destination these days in India is chandiagrh, mohali, panchkula in north India.

According to the tenth five year plan, there is a gap of 30 million units between the demand and supply of housing which is quite a big gap and bridging this gap requires the investment of around 1,75,000 crore.There is huge dwelling requirement in urban as well as rural areas. It is estimated 19 million homes are required in urban areas in India. No doubt there is boom in


real estate but the supply is still not meeting the demand. Various reforms need to be done in real estate business like there is a huge need in changing the regulations relating to land, validation, property taxes, validation of stamp duty structure etc.The real estate industry needs to be made a little disciplined. The environment needs to be created to establish real estate a good investment option. Government is taking steps to reform the industry but still needs a lot to be done. Government has shown its remarkable contribution by reducing home loan to almost half in the past five years.

Real estate no doubt has professional people but the number is very low which needs to be increased to see significant growth in the industry. The real estate industry needs to be more transparent and organized which is improved in the past few years but it still needs little more. But this industry has a great potential and will grow many folds in the coming years.






Property News

Former Lee home to be restored - The Chronicle Herald
HONG KONG (AP) — The Hong Kong government has agreed to preserve a former home of late martial arts legend Bruce Lee and turn it into a tourist attraction, an official said Wednesday. The house where Lee lived from 1972 to 1973 is currently used as ...

Iowa Lawmakers To Focus On Budget, Flood Recovery - KELOLAND TV
Democratic legislative leaders say a budget crunch and demands of funding flood recovery efforts will likely draw most attention during the upcoming legislative session. Speaking Wednesday at a news conference, the Democrats who run the House and ...

Michael Jackson to sit on throne, back in Bel Air - Times Herald-Record
The King of Pop is back — in town, that is. Michael Jackson has signed a yearlong lease on a mansion in the swanky Bel Air area of the city, a spokesman for the singer said Wednesday. Jackson has been staying in the estate for about a month, said ...

Jonathan Davis: Reality check for consumers on rate cut - yorkshirepost
THE Bank of England interest rate has been slashed from five per cent in September 2008 to, now, 1.5 per cent. No doubt the eternal optimists (banks, estate agents, mortgage brokers, property developers, car dealers, furniture showrooms etc) will say ...

Foreign investors unlikely to shun India - Express India
CB-CID is probing Satyam fiasco: Andhra ... Ramalinga Raju's village still blesses h... Satyam employees send out resumes, marke... Raju likely to be arrested on Friday Mumbai Foreign investors are unlikely to shun India in the wake of a fraud ...