Property Transactions Set to Go Costlier

CREDAI Bengal Chapter has said that new property tax will make property transactions costlier. It will adversely affect property transactions as well as the realty sector.

KOLKATA: The state government of Bengal has proposed new tax on property transactions. This was presented in the Finance Bill 2013.  Continue reading

Chris Gayle Signs To Endorse A Realty Firm

The West Indian Cricketer Chris Gayle will endorse Agrani Homes, a Patna based real estate firm. The cricketer has signed the endorsement agreement.

PATNA: The name of Chris Gayle is absolutely popular among all who love cricket. Doubtlessly, he is one of the most favorite players in the IPL 2013 too. His popularity reached new bounds when he scored a mammoth 175 from just 66 balls. Continue reading

Actis Plans To Exit Its First Realty Fund

The global private equity firm Actis is planning to exit its first and only PERE fund in India. Actis had invested $25 million in a residential and retail project in Bangalore.

The private equity firm Actis is pondering over exiting its private equity in real estate (PERE) fund from India.  The private equity firm had invested $25 million in Bangalore for the development of a residential and retail project. Continue reading

DLF Sells Shares to Meet SEBI’s Guidelines

The largest real estate developer DLF will raise Rs.2000 Cr through selling its shares. The realty major plans to sell out over 81 million shares.

The largest real estate developer DLF will sell around 81 million shares to raise a fund worth Rs.2000 Cr. The shares will be sold under the institutional placement program. Continue reading

NH Bungalow, Renovated Home Of Imran Khan

To show his great love and respect towards his late grandfather Nasir Hussain, Bollywood star Imran Khan has named his home NH bungalow.

Imran Khan has recently got a new home, actually he renovated his ancestral home. However the Bollywood actor has surprised all who thought that it would be named after him, by naming it after his late grandfather Nasir Hussain. His new house is thus called NH bungalow, a bungalow which is a loving tribute to the late filmmaker. Continue reading

Realty Investment Fell Sharply, ASSOCHAM

Realty investment in India has fallen sharply, reported ASSOCHAM, the apex body of industry.

Last year India received total investments worth Rs.122 lakh crore. Realty investment was only Rs.42,000 Cr. This is far below the amount received in the year-before. Continue reading

Realty Investment in the Last Fiscal, Gujarat Tops

According to a report by the Associated Chambers of Commerce and Industry of India (ASSOCHAM), Gujarat received the largest realty investment in the last fiscal year.

AHMADABAD: Gujarat is one of the most sought after locations for realty investment. The report of the Associated Chambers of Commerce and Industry of India proves this. Continue reading

Kingfisher Airlines Likely to Lose Its Realty Assets

A legal notice has been sent to the Kingfisher Airlines Ltd by its lenders, stating that they will snatch the realty assets if the loans are not repaid.

For attaining loans from banks and other lenders, Kingfisher Airlines Ltd has submitted its realty assets as collateral. State Bank of India is the largest lender to the airlines. Continue reading

Blackstone Lay Luring Eye On Express Tower

Blackstone, the PE giant, has showed its interest in grabbing the Express Tower in Mumbai.

With assets worth $210 billion, Blackstone is the largest private equity firm. The group has various investments in India.  While most of their PERE investments are in the residential sector, now they are planning to invest some money in the commercial segment. Continue reading

Home Sales Witness No Signs Of Improvement

There are no signs of improvement for home sales. The sluggishness has affected home sales across the country.

Various freebies and discounts are offered by the developers. Though these were expected to improve the sentiments of home buyers, weak home sales prove that these offers have no impact on the sluggish realty market. Continue reading

Aishwarya and Abhishek Buy Home to Gift their daughter

The super Bollywood couples Aishwarya Rai Bachchan and Abhishek Bachchan have bought a holiday home in Dubai. The holiday home was bought for Rs.54 Cr with the purpose to gift their daughter, Aaradhya.

Bollywood’s super couple Aishwarya Rai and Abhishek Bachchan have bought a holiday home in Dubai. The holiday home was bought for Rs.54 Cr. The holiday home is bought to be gifted to Aaradhya, their fifteen-month old daughter. Continue reading

Coaching centers boost realty market in Kota

Realty market in Kota receives a great boost from the coaching centers in the city. Students, who are flocking to Kota for getting coaching for IITs and Medical entrance, demand mainly 1 BHK and studio apartments.

JAIPUR: Kota is known for its IIT and medical entrance coaching centers. For getting proper training, students from the neighboring states are also flocking to the city. This has in turn boosted the realty market here. Continue reading

RBI Slightly Cut Rates, Developers Seek More

RBI decided to cut the key policy rates by 0.25%. Welcoming the rate cut, realtors said that this will boost the sector.

Finally the Reserve Bank of India cut the key policy rates. While welcoming the decision of RBI, realtors said that it would boost the sector. RBI cut the repo rate (the rate at which banks borrow from the RBI) by a mere 0.25%.

RBI slightly cut the key rates.

RBI slightly cut the key rates.

Commenting on the rate cut, realtors said that the interest would have gone down if the reduction rate was further lowered. A further reduction would necessarily boost the home sales. Home loans will be lowered. This will boost the sentiments of the buyers.

Along with the buyers, the builders also will benefit from further rate cuts. If the repo rates are further revised, it will bring the EMIs down.

Speaking on the issue, former CREDAI chief Lalit Kumar Jain said that the common house buyers will benefit from the reduction of repo rate.

The Central Bank of India today cut the repo rate, short-term lending rate, by a mere 0.25%.  After the reduction now the repo rate stands at 7.25.

Developers seek more rate cuts from RBI.

Developers seek more rate cuts from RBI.

The RBI decision was met with mixed response. DLF, one the largest developers in India, said that the rate cut will hardly have any impact on the realty sector. The realty major said that the reduction is too small to leave an impact on the sector.

Rajeev Talwar, Executive Director of DLF Group, demanded further reduction. He opined that only a further reduction will boost both economy as well as realty. Mr. Talwar stated that the rate cut is very so small that it is insufficient to boost either economy or realty.

Sachin Sandhir of RICS (Royal Institution of Chartered Surveyors) also expressed a similar view. He too said only further rate cuts can boost realty sector.

Assotech MD Sanjeev Srivastva said that the move will boost the sector. He hopes that the rate cut by RBI will be passed on to the customers by the financial institutions.

ECB Norms Likely To Be Relaxed to Boost Affordable Housing

The officials of the finance ministry and of RBI will hold a meeting this week to discuss about relaxing the norms for external commercial borrowing (ECB). The relaxation may boost the affordable housing projects.

To discuss about how to imply relaxation on the norms related to external commercial borrowing (ECB), officials from both Finance ministry and the Reserve Bank of India, may meet this week. Continue reading

Glimpse of Most Expensive Homes in India

Billionaire-business men and top celebrities own some of the most expensive homes in India. This article tells you how these homes are counted among the most expensive homes.

While owning a home remains a dream for the majority of the people in India, the billionaires and the Bollywood celebs are buying homes worth millions or even billions. Here we go through some of the most expensive homes in India. Continue reading

Supreme Court Halts Proceedings On Saharas’ Pleas

After hearing the request of the Securities and Exchange Board of India; the Supreme Court has asked SAT and Allahabad HC to halt all proceedings on the pleas filed by Sahara firms.

The Supreme Court, after hearing the request filed by Securities and Exchange Board of India, halted Allahabad High Court and the Securities Appellate Tribunal from hearing all the pleas filed by SHIC, SIREC and Subrata Roy. Continue reading

New Launches in Mumbai, Offered At Low Rates

Affected by the weak home sales, some top Mumbai Developers have cut down the prices for their new launches.

A few days after the news came out that the property prices have shot up in many of the cities including Delhi, Bangalore, etc., some Mumbai developers said that they have cut down the prices for new launches. Continue reading

Bharti Walmart to Fix Deal with Century Group

Bharti Walmart plans to set up its first cash & carry store in Bangalore. The Indian wing of US based retail major, is reported to be in final talks with Century Real Estate for the purpose.

Bharti Walmart prefers to set up its first cash and carry store in Bangalore. The firm is the Indian wing of American retail major has entered into final talks with Bangalore based Century Real Estate Holdings. Continue reading

Bollywood Actress Files Case Against Realty Firm

Sagarika Ghatge, the Bollywood actress who came to the limelight of film industry with Chak De! India, has recently filed a case against a realty firm.

Sagarika Ghatge, the Bollywood actress who came to the limelight of film industry with Chak De! India, has recently filed a case against a realty firm. She alleged that her photos were used by the firm for the promotion of its projects. Earlier she had endorsement deal with the same firm. However the deal ended in mid 2011. Continue reading

Home Prices Sees Rise Despite Weak Home Sales

Home prices in Mumbai rose in the last quarter. Meanwhile the period was noted for lower home sales as well.

MUMBAI: Home sales are down. The real estate market is sluggish. Yet the home prices are not affected by them. It seems that the home prices are not aware of the weak home sales. Continue reading

Meydan, Lodha to Jointly Develop $5.7b Project

Dubai based Meydan Group and Mumbai based Lodha Developers Ltd will jointly develop a residential project at an estimated cost $5.7 billion.

Dubai based Meydan Group plans to develop a project in Dubai’s Mohammad Bin Rashid City. The project will be launched in conglomeration with Indian developer Lodha Group. Continue reading

Water Shortage Affects Realty Construction

Water is necessary for realty construction. The water shortage thus affects it adversely.

As the summer is approaching, water shortage has become one of the main keywords in the headlines. We know that people are affected. Are the people alone affected? No, many industries are also affected with it. Continue reading

Sahara Grabs another Piece of Bangalore Land for Rs.149 Cr

With the plan to construct a commercial and hotel project in Bangalore, Sahara has bought a plot here at a price of Rs.149 Cr.

BANGALORE: Even when the group is stepping on hot live-coals spread by the Securities and Exchange Board of India, and the order of Supreme Court, Sahara has no change, no fear. Continue reading

Housing Projects for Seniors, Bangalore Tops The List

There are seven housing projects for seniors in Bangalore. The city is far ahead to the others like Chennai and Pune which has three each such projects.

Bangalore is one of the prime IT hubs in India. It is known for its IT development. Temperate climate, end-user oriented residential sector, stable property prices, etc. were some of the most used adjectives for Bangalore city. Adding to all these is the top position for developing most number of housing projects for the ‘seniors.’ Continue reading