October 9, 2009 – 5:50 pm
Office rentals, which dropped 40% from their peak in the middle of 2008, stabilized across the country in the September quarter as fresh bookings for office spaces partly reduced inventories, says a report by international property consultant CB Richard Ellis.
There was no change in office rentals in some of the major office locations in the [...]
October 9, 2009 – 12:27 pm
Residential real estate prices are going up. In the last three months, prices of affordable apartments have appreciated by around 10% across the country.
Anshuman Magazine, MD – real estate consultancy firm CB Richard Ellis – South Asia, said, “With improvement in the sentiment in the economy, transactions in the affordable range of residential real estate [...]
October 8, 2009 – 11:47 am
Godrej Industries has entered into an agreement with Godrej & Boyce and Godrej Properties to form a special purpose vehicle for developing its property at Vikhroli, the company said in a communique to the BSE.
Without divulging details on the area to be developed, it said that the board of directors, through a circular resolution on [...]
October 7, 2009 – 11:17 am
Property prices across the country are 10-25% lower than their peak in early 2008. Bank rates are about 4 percentage points lower. Still, the vast majority of the exploding middle class, which aspires to own a home, is not taking the plunge. Homes are still not affordable. Affordable homes are hardly homes.
The rates may have [...]
October 6, 2009 – 11:13 am
DDA has awarded Delhi’s first slum redevelopment project, worth Rs 500 crore, to a local builder, Raheja Developers, in a move that may see more such projects in the national capital resulting in better living conditions for urban poor and thousands of crores of businesses for builders.
DDA has awarded 5.22-hectare, or 13-acre, project at Kathputli [...]
October 5, 2009 – 3:23 pm
Sahara Prime City, which aims to raise Rs 3,450 crore from an IPO, will utilize Rs 2,668 crore in the next 3 years to part-fund development of about nineteen thousand housing units across the country.
At present, Sahara Prime City is developing nine integrated townships and one residential complex in cities such as Lucknow, Indore, Nagpur, [...]
October 5, 2009 – 1:16 pm
Realty industry is all set to be lift up this Diwali. At least 12 public offerings, a slew of new projects and the return of private equity funds that had turned away proposals due to the global slowdown last year.
‘After weathering the worst funds crisis for one and half year, the realty sector has [...]
October 3, 2009 – 5:35 pm
The biennial exhibition BuildMat, sponsored by three major associations connected with the construction sector in Coimbatore, is likely to become an annual event after 2015.
To provide exposure to the latest products, the organizers have decided to invite manufacturers to directly participate in the 2011 BuildMat show.
Speaking to newspersons, Mr Praveen Chandra Prasad, Chairman, BuildMat 2011 [...]
October 3, 2009 – 5:31 pm
UK-based investment group Duet’s Indian hospitality arm Duet India Hotels is looking for more land to expand its portfolio and add more than thirteen hundred rooms by the end of this financial year.
The group plans to develop 20- 30 mid- scale and upper middle segment hotels with around five thousand rooms in the next 2-3 [...]
October 3, 2009 – 5:29 pm
Mr K Rosaiah, Andhra Pradesh Chief Minister, inaugurated the fourth International Landscape and Gardening Expo 2009. About hundred exhibitors from fifteen countries, including the US and Australia, are taking part in the event. A conference, `Plants, Places and People’, would be held at `Visvesvaraya Bhavan’ on 3rd October. It would focus on improving quality of [...]
October 1, 2009 – 12:15 pm
Property received as gifts from non-relatives on or after October 1 will attract income-tax in the hands of the donee. This new regime for taxation of gifts of property (immovable property or any other property) will come into force from Thursday. Any person who receives a property as gift on or after October 1 must [...]
September 30, 2009 – 8:00 pm
Construction company, Unity Infra projects said that it has received a contract worth Rs 54.56 crore from Amanora Park Town for construction-related works. The scope of work includes construction of six towers among others, Unity Infra projects said in a filing to the Bombay Stock Exchange. The project is scheduled to be completed in 29 [...]
September 29, 2009 – 5:38 pm
Parsvnath Developers has said its ‘overdue payments’ stood at Rs 63 crore and Rs 143 crore as on July 1 and August 31, respectively, under loan agreements and other outstanding indebtedness. The company said this in its Preliminary Placement Document filing on the NSE.
The company’s Chairman, Mr Pradeep Jain, was not available for comments, despite [...]
September 28, 2009 – 3:25 pm
Vatika Group announced that it will open the Westin Hotel in Gurgaon by March next year, seven months before the commencement of the Commonwealth Games in October next year. The opening of the Westin Hotel will help to meet the hotel room needs for the mega event next year as the city is already facing [...]
September 28, 2009 – 2:03 pm
The upward movement has begun. Not only have the sales picked up, but the prices of residential property too have increased 5-15 % in the last couple of months. With a long festive season ahead, realty experts believe property markets could see heightened activity, provided developers desist from increasing prices of residential space any further.
Aditi [...]
September 26, 2009 – 4:43 pm
The Maharashtra Chamber of Housing Industry (MCHI) will organize an exhibition `Property 2009′ at MMRDA Grounds, Bandra Kurla Complex, from October 1st to 4th. Over 75 real estate developers will showcase their projects in Mumbai and suburban areas such as Thane and Navi Mumbai, besides Pune. State Bank of India is the co-organizer of [...]
September 26, 2009 – 12:00 pm
Knight Frank has introduced a real estate guidebook for India. The book provides information needed to invest in real estate market. Mr Pranay Vakil, Chairman-Knight Frank India, said, “We felt the need for a single credible source of information for which we brought together the best minds of the industry in business. This book [...]
September 25, 2009 – 1:01 pm
Knight Frank India said that prices in the residential property segment are likely to decline in a short time. Knight Frank India Chairman Pranay Vakil said, “We feel prices of residential segment may go down over a period of time”. Further he added that the residential segment may see a robust demand in [...]
September 25, 2009 – 1:00 pm
The Reserve Bank of India instructed banks to meticulously assess the inherent group risk on borrowal accounts coming under the real estate category.
This caution comes in the wake of the RBI’s findings that some of the companies operating in the sector have significant exposure in the form of advances, investments etc., to their subsidiaries and [...]
September 24, 2009 – 11:53 am
Lodha Developers Ltd. has been selected as one of the India’s top ten builders on the basis of a survey conducted by Construction World, India’s premier magazine for the construction sector.
The survey was conducted over a period of 4 months among a spectrum of handpicked audience comprising industry professionals from across India.
Mr. Abhisheck Lodha, Director, [...]
September 24, 2009 – 11:14 am
Century Real Estate is the latest to join the affordable housing bandwagon. It has come up with ‘Century Indus’ project that offers apartments in the Rs 20-30 lakh category.
Mr P. Ravindra Pai, MD, Century Group said, Acquiring land at historical rates has helped the company make the project affordable.
The company has a land bank of [...]
September 23, 2009 – 4:15 pm
In yet another big ticket realty deal in Chennai, India Cements has acquired the ICICI Bank owned large commercial space in the upmarket Santhome High Road in the city reflecting the uptick in the property market. Sources close to the transaction said that ICL has struck the deal for Rs 63 crore.
ICICI Bank had put [...]
September 22, 2009 – 4:59 pm
People who borrow money from banks to buy homes at floating rates of interest are set to benefit as banks are expected to change the way they price such loans.
The Reserve Bank of India is preparing to ban lending below the prime lending rate, the benchmark rate for all floating rate bank loans.
Sub-PLR lending came [...]
September 22, 2009 – 3:59 pm
Rentals of retail spaces in NCR and Mumbai have decreased by up to 15% in the first half of this year over the past six months on account of low demand and high base effect of last year.
According to global real estate consultant CBRE, rentals in the NCR have corrected by about 10% in the [...]
September 22, 2009 – 3:58 pm
The increased supply of ‘affordable’ housing and the demand for it has improved volumes for developers, but this has also meant that the rise in values has been significantly less.
Balakrishna Hegde, former president of CREDAI, Bangalore, points out that while volume demand is up by 50% to 60%, the rise in value has only been [...]
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