Foreign retailers likely to postpone India Entry, JLL

Asia Pacific Property Digest, the quarterly report of JLL India, states that the foreign retailers may postpone their India Entry by one or two years.

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

High Rise Apartments To Offer New Skyline To Bangalore

Bangalore now has more numbers of high rise apartments. They are providing a new skyline to the high-tech city.

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

Dhoni Constructing New Farmhouse In Kanthitar

Indian cricket team captain M S Dhoni is constructing a new farmhouse in Kanthitar where he has been gifted one acre of land.

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

Power Shortage, Water Scarcity Hit Gurgaon

Gurgaon, one of the most prominent cities in the NCR, is now facing acute power shortage. Scarcity of water adds multiplies the troubles of the city-residents.

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

Property Rates Jump By 66% In Mumbai, Report

In the last four years, Mumbai saw property rates rising by 66 percent. Property rates shot up in the city mainly due to the scarcity of land and limited supply.

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

Guwahati Witnessing Real Estate Boom Now

Real estate sector across the country is booming and so is now in Guwahati. The city known as the gateway to Northeast Region is now witnessing the boom of real estate.

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 To Demand More, CBRE

According to the report of CBRE, foreign retailers are set to demand for more retail space in India. According to the report Mumbai and Delhi are the two most favorite destinations of the foreign retailers.

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 Now Owns Her Dream Home In Bandra

Bollywood-throb Katrina Kaif now owns a home in Bandra, Mumbai. She has converted this old home to her dream home after renovating it.

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

Godrej Properties to Raise Rs.700 Cr, Targets Growth

Godrej Properties, the real estate wing of Godrej Group, has announced its plan to raise Rs.700 Cr. The fund will be raised through rights issue.

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

MCHI Demands Expert Panels To Clear Projects

The Maharashtra Chamber of Housing Industry (MCHI) requested the state CM Prithviraj Chavan to form two expert panels for the clearance of projects.

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

PE Firms Invest Rs.700 Cr In NCR Real Estate

Delhi-NCR received Rs.700 Cr PE investments, reported property consultant firm Cushman & Wakefield. However PE firms showed least interest in Gurgaon.

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

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