Haryana Chief Minister Bhupinder Singh Hooda’s close relatives have acquired a large number of real estate properties in the state. Many of these real estate dealings point to politicians deep relations with the real estate giants.
Bhupinder Singh Hooda’s son-in-law prepares to play a game of brain in the real estate sector.
Haryana, being a fertile land for real estate, is always sought after by the real estate builders. Many relatives of Haryana Chief Minister Bhupinder Singh Hooda run companies in the state.
Havelock Developers Pvt Ltd is one among the many. It came in to life in 2007 as a fully owned sub-firm of Unitech builders. Havelock obtained land parcels in many parts of Gurgaon. The firm own land parcels in Gurgaon’s Fazilpur and Badshahpur areas.
Havelock obtained unsecured loans of Rs.6.7 Cr from Unitech, one of the largest real estate builders of the company. Well before the loan tenure came to end in March 31, 2008, Havelock’s ownerships were transferred to Anjali and Kunal Bhadoo, Haryana Chief Minister Bhupinder Singh Hooda’s daughter and son-in-law. The transfer took place in September. Continue reading
Sahara India hunts for global iconic properties. And the firm lays its eyes on Air India’s landmark headquarters at Nariman Point in Mumbai.
Air India shakes its head in negation to Sahara’s bid.
Debt- driven Air India has recently disclosed its plan to lease/ monetize its real estate assets to cut off its debts. The national carriers was planning to lease out 20 floors of its headquarters at Nariman Point while keeping the top three floors for its own office purposes.
Air India expects to generate around Rs.50 Cr yearly by leasing out 16 lakh sq. ft. in the tower. Lucknow – based Sahara group approached Air India with its plan to lease out the entire area for 30 years. The sources close to Air India however said that the bid was not accepted as it did not wish to lease out the HQ in Mumbai for a longer period. Air India plans to lease the HQ building for shorter period. Continue reading
High net- worth individuals (HNIs) have excess money. Yet they find no proper place to invest it as the real estate market fails to give them higher returns. For them real estate investment has become unsafe.
Real estate investment? HNIs turns highly cautious about their investment on real estate properties .
High net- worth individuals (HNIs) always look for income generating assets. They are least bothered about the fluctuations in the economy. High net- worth individuals’ (HNIs) real estate investment was always well- known. As any others they also preferred real estate investment to all other forms of investment. Continue reading
MNCs often resort to divest their real estate properties in the prime locations to overcome their financial crises.
Real estate divestment : best means for bigger corporates to cut off their debts.
Many Indian Corporates and MNCs fell in debt due to sluggish market and economic recession. This sluggish market situation forces many of the Indian corporate to divest their prime real estate assets.
Mounting debt has become a serious issue and problem for the Indian Corporates and MNCs. Many of them are left without any choice than to divest their real estate assets especially which are in the prime areas. Some of them resort to leasing and other monetization methods. Continue reading
Union Cabinet recently passed the Land Acquisition Bill. The land acquisition bill ensures more right to the farmers. Real estate experts opine that the bill will cause residential prices to go up.
Residential Prices set to go up with Land Acquisition Bill.
Union Cabinet voted in favor of land acquisition bill. The bill will force the housing prices to go up, report real estate analysts. As per the land acquisition bill the land owners’ consent has become mandatory for all private projects.
The year 2012 witnessed a decreasing price appreciation for the residential sector. This year with the approval of land acquisition bill the situation is going to be worsened. Experts are of the opinion that the bill will necessitate price – hike. In fact the value appreciation will be improved. Continue reading
Real estate builders have taken out the final resort to sell out their unsold properties. Most of them rely onto freebies to induce the clients mainly UAE NRIs.
Real estate builders try to induce home buyers with many exciting freebies.
Real estate builders have offered vast number very exciting prizes to the home buyers. The prizes include luxury cars, expensive bikes and discounts up to Rs1 million. All these are offered to the non- resident Indians (NRIs) residing in the UAE.
Dubai property show has been turning out as a platform for the real estate developers to induce the UAE NRIs. The property show has been noted as this year there are a record number of participants. Over 90 real estate developers are expected to participate in this. Continue reading
Chinese largest real estate firm Dalian Wanda Group has entered into ties with Anil Ambani’s Reliance Group. Both groups will jointly develop some real estate projects in Mumbai and Hyderabad.
Anil Ambani sets for another race along with the Chinese real estate Giant.
Any Chinese real estate firm, for the first time, has real estate investment in India. Anil Ambani’s Reliance Group will offer the land. The Chinese real estate firm will construct and develop the land.
The first joint real estate project will be launched in Navi Mumbai. Anil Ambani’s Reliance Group has land parcels in Navi Mumbai and Hyderabad. The group officials disclosed their plans to build integrated township projects in India. These two projects will combine an area of about 20 million sq. ft. Continue reading
Real estate investors are already refunded, claimed Sahara firms. Subrata Roy, the chairman of Sahara groups, claimed that Sahara real estate firms have already refunded the amount.
Sahara Claims that they have refunded their OFCD real estate investors.
A December 9 advertisement showed that both Sahara firms – Sahara India Real Estate and Sahara Housing Investment – have paid SEBI Rs.2,620 Cr. The real estate firms have paid an additional Rs.2500 Cr as well in defense in form of buffer amount.
Last week Supreme Court has granted more time to both Sahara group firms to refund. The SC has given 3 months’ time to refund. As per the SC order the Sahara real estate firms are to pay the entire amount back in two installments. They are given the time up to February first week. Continue reading
In a severe move against the land intruders, The Noida Authority freed nearly 90 acres of government land. The estimated real estate market value of this land falls around Rs.10,000 Cr.
Noida Authority seized back 90 acres of intruded prime real estate land.
Noida Authority on Thursday trampled nearly 90 acres of land from three major sectors in Noida. This act of the Noida Authority was seen as their move to toughen its attitude against land intruders.
The Authority further stated that it will pull down all illegal constructions in Noida. It warned the real estate builders who have illegal constructions. Continue reading
Real estate India expects to get rid of the sluggishness. The year 2012 was really a sluggish year for the real estate builders.
Real estate India regained pace of construction. It is said to boost real estate India.
Real estate India is expected of gaining a boost from the retail FDI policy. The increased demand for retail spaces prompts the real estate players to construct more commercial projects. This in fact leads to real estate boom in the country.
Commercial real estate prices have risen sharply in India, especially in its big cities. Yet quality retail spaces available for rent are minimal. Thus the real estate experts predict a boom in construction. This will be all the more boosted by the entry of foreign multi-brand retailers. Continue reading
CREDAI, the apex confederation of real estate builders said that the real estate reforms must be consumer friendly.
Consumer Friendly Real Estate Reforms turn the need of the hour to provide “Home for All.”
CREDAI has appealed to all the parliament members (MPs) to bring in reforms which are consumer friendly. The apex body of the real estate developers further asked them to consider the large number of stalled projects. Continue reading
Indian Property Show Dubai- 2012 is expected to be the biggest ever. It is said to have a record number of participants this year. Indian Property Show will be held on 13, 14 and 15 of December at Dubai World Trade Centre.
Indian Property Show Dubai -2012 is poised to be the biggest ever. There is a record number of participants this year. Indian Property Show will begin on 13th of December and end on 15th. The gates will be open to the visitors from morning 11:00 am to 8:00 pm evening on all three days of the Indian Property Show Dubai. Continue reading
Real estate sector is about to gain a small boost from the Finance Ministry. Finance Ministry plans to support the real estate sector by helping the real estate builders to secure bank loans.
Residential Sector Thrives Again
Real estate sector will be boosted as the Finance Ministry plans to offer bank loans to the builders who have stalled projects at hand. The decision is expected to be made within a couple of weeks.
Latest RBI data show that the bank credit to the residential sector has grown by mere 12.1 % on year on year basis. This, in fact, is lower than the 15.9 % aggregate growth rate of bank credit. Continue reading
Supreme Court granted some more time to Sahara to pay off the fine. SC asked SEBI, the market regulator of Securities and Exchange, to accept the extension application of Sahara Real Estate Firms.
Dance time comes back to Sahara
Sahara Real Estate Firms finally had some breath of relaxation. Accepting Sahara’s plea, SC asked SEBI to accept their application for more time to pay off the amount.
Sahara Real Estate Firms were ordered to refund the money collected through debentures. Nearly 3-Crore investors are said to have investment in these firms. Continue reading
Real estate sector signaled the bouncing back. Real estate sector has been undergoing a sluggish momentum which the sector has overcome now.
Real estate majors like Supertech and Ansal API have announced their new real estate launches worth Rs.8,000 Cr. The realty majors plan to invest the amount for a period of 4 years.
Meanwhile some real estate builders are looking for options to cut the debts off by divesting their properties. Yet this is not the case for the coming years. Real estate experts opine that the coming years will be booming years for real estate sector. Continue reading
Adani Realty has announced its tie up with M2K. Delhi-based M2K Group and Adani Realty will jointly develop a premium housing project- Oyster Grande Gurgaon.
Adani Realty, Adani Group’s real estate wing has revealed its plan to launch its latest residential project in Gurgaon. Adani Realty will be launching this housing project in collaboration with M2K.
Adani Realty and M2K will have equal shares on this residential project. According to the available information, the estimated investment for this residential project is about Rs.1000-Crore. The 40 acre sprawling Oyster Grande is to be set on Dwarka Expressway. Continue reading
Blackstone Group LP is on the verge to launch its new real estate fund in Asia. Blackstone Group considers this as their plan to seize the Asian real estate market.
Blackstone plans to raise another real estate fund to be launched in Asia. World’s largest private real estate firm’s CEO Schwarzman disclosed their plans to become the largest buyers of commercial real estate in India. He also had laid his eyes on Australian real estate market as well. Continue reading
Indian government’s decision to allow more retail FDI (Foreign Direct Investment) was passed in the Lok Sabha. New retail FDI bill gives some rays of hope to troubling mall owners.
The approval of more Foreign Direct Investment (FDI) in retail policy by the Lok Sabha (LS) fills some hopes to the mall owners. They expect to reduce the vacant space as the foreigners will have permission to run shops in India.
With the shopping-mall development boom there has been excess of retail space in all major cities of India. This was comparatively higher in New Delhi and Mumbai. The situation left the mall owners to struggle with the excess of retail space which remain vacant. Continue reading
There has been a fall in the real estate housing sector in 2012. Housing segment significantly slowed down in the top seven cities of India, reports JLL.
With the minimal rise of capital value by 1-3 % the housing segment loses value appreciation in all the major cities of India, reported real estate consultant Jones Lang LaSalle India (JLL). Continue reading
Real estate investment firm is in talks with struggling Nokia which plans of selling its head office building. The real estate investment firm is about buy the Nokia building for a sum of Rs.1218-Crore.
Real estate investment firm Exilion has hit the top headings as it is about to purchase Nokia head building at Espoo, in Finland. Nokia, one of the leading handset makers, said that the group is in talks with real estate investment firm Exilion over their selling of its head office building in Espoo. Continue reading
The Supreme Court of India severely criticized Sahara Groups for not refunding Rs. 27,000-Crore to its investors. SC further ordered the Sahara Groups to refund the amount to the investors within a week.
Sahara India Real Estate Corporation Ltd (SIRECL) and Sahara Housing Investment Corporation Ltd (SHICL) were given a fine of Rs. 27,000-Crore. The group was ordered to refund the amount collected from nearly 3-Crore investors. The Supreme Court found out that the order is not yet accomplished by Sahara Groups. Continue reading
CREDAI- Real estate developers’ apex confederation asked its members to ease property prices. The real estate developers’ apex body advised its members to lower property prices for selling them off.
CREDAI national head Mr. Lalit Kumar Jain said that the real estate developers consider selling of their unsold properties at a lower rate. P Chidambaram, the Finance Minister of India, placed the suggestion in front of real estate developers.
P Chidambaram suggested the Real estate developers to consider the amount of unsold properties. He pointed out that there exist a vast number of real estate properties which remain unsold. Continue reading
Real Estate Firm Bombay Realty, a wing of Wadia Group, plans to present its The Island City Center project in Dubai Indian Property Show.
Wadia Group plans to present its Island City Center project in the Indian Property Show. The Property show will be held in Dubai from December 13 to 15. Wadia Group expects to gain some business dealings with NRIs – (non- resident Indians) who reside in Dubai.
Wadia Group’s real estate wing Bombay Realty will launch its latest residential project titled Island City Center (ICC) in Mumbai. The real estate township project will be located in Dadar. Continue reading
Real estate is in high demand for construction laborers. Labor shortage in the real estate sector creates higher trouble to the real estate developers.
Real estate developers find it difficult to finish their projects on time without having sufficient laborers. The real estate sector has become the second best employment -provider in India after the Information Technology. However some reports say that a few real estate developers offers cash advances to the laborers for getting them on to the work site. Continue reading
CREDAI urged the Bengal government to repeal urban land ceiling act. The apex body of real estate developers said that this has become a serious issue which blocks the real estate constructions.
Real estate developers’ confederation – CREDAI harshly blamed the Mamata Banerjee government to implement Urban Land (Ceiling and Regulation) Act (ULCA) in Bengal. The apex real estate developers’ confederation pointed out that Bengal is one of the few Indian states to have ULCA. Continue reading