With the foreign direct investment policy of the central government, the realty developers were expecting foreign retailers to set up their outlets and stores in India. Developers thought they could find some takers for their vacant spaces in their shopping mall projects. Continue reading
BANGALORE: High rise apartments had become a necessity in Mumbai and other top cities where there is no sufficient space for development. Till recently, there weren’t many high rise apartments in Bangalore mainly because there was sufficient land for developing projects. Continue reading
A farmhouse with all luxury amenities and facilities are being developed in Kanthitar. What makes this farmhouse more special is that this farmhouse belongs to M S Dhoni, the captain of Indian Cricket Team. Continue reading
Gurgaon was once considered as one of the most suitable locations in the NCR to live on. Now the recent reports show that the city is affected by various issues like power shortage, water scarcity and other sanitation troubles. Continue reading
Mumbai, the city which remained the top home destination in India, has always enjoyed higher property rates. According to some recent reports, over the last four years, the property rates in the city have gone up by 66 percent. Continue reading
Though the real estate has been booming in the country for a long while, it was not seen in any of the Northeast States like Assam. Now, the situation is changing. Many of the Northeast cities like Guwahati have become hot spot for realty. Continue reading
Foreign retailers across the globe are flowing to India now. The rising population in India in fact prompts them to set up stores in the Subcontinent. The rising income level is another factor which prompts them to set up more stores here. Continue reading
Katrina Kaif owned an old apartment which according to her was not as comfortable as it should be. Further it had various other problems like leakage and so on. Thus she has been on a house-hunt for a while. Continue reading
MUMBAI: The real estate wing of Godrej Group, Godrej Properties, has announced its plan to raise a fund worth Rs.700 Cr. The fund will be fully utilized for developing its new projects. Godrej Properties plans to raise the fund through rights issue.
Aiming growth and for developing more number of realty projects, Godrej Properties plans to raise Rs.700 Cr through rights issue. Continue reading
MUMBAI: The Maharashtra Chamber of Housing Industry (MCHI) has requested Prithviraj Chavan, the State CM, to appoint two expert panels for clearing the real estate projects.
MCHI asked for two panels which will be formed of five experts and structural engineers. MCHI has also asked the state CM to disperse the high-rise committee. Continue reading
DELHI: In 2012, private equity firms invested Rs.700 Cr in the Delhi-NCR. Overall, India received Rs.19,000 Cr in 2012. PE firms contributed one third of the total investments. The remaining investments were received through institutional sales.
Cushman & Wakefield reported that PE investments in India rose by seven percent in the year 2012-13. Over Rs.6200 Cr was invested in India by the PE firms. Continue reading
KOLKATA: The state government of Bengal has proposed new tax on property transactions. This was presented in the Finance Bill 2013. Continue reading
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
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
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
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
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
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
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
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
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
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
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
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.
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.
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.
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