Mumbai may be second to Delhi in unsold homes, but it will take longer to sell them. Real estate developers in the financial capital must wait over three years to clear 1.13 lakh units or 120 million sq ft as high prices deter potential buyers, shows a study released by Liases Foras, a real estate […]
Tag: Real Estate Developers
Palm Hills in Gurgaon
March 12, 2010 – 12:30 pm
One of India`s leading real estate developers, Emaar MGF Land, announced the launch of a new mid-income housing project `Palm Hills` in Gurgaon in NCR. It will be located on NH8 with the prime location in Sector 77, Gurgaon. The total investment will be Rs 500 crore as said by sources on an area spread […]
Developers Unable to meet Retail Space Target
January 7, 2009 – 4:57 am
DLF, Parsvnath and other real estate developers have lagged behind by 54% in their target to open retail space even as retailers’ vacancy climbed to 16% last year. Cash-strapped real estate developers failed to deliver eleven million square feet of retail space in 2008, according to a study released by Cushman & Wakefield. Out of […]
Uttaranchal deserves foreign investment
January 3, 2009 – 3:08 am
Real estate of Uttaranchal is fighting for sufficient foreign investments for its development. The real estate in Dehradun is growing at a pace. It has opportunities in industry, tourism, commerce and investment. The state is crowded with lots of real estate builders, who has various township projects for state. Though, commercial and residential properties in […]
Is dream home affordable?
December 19, 2008 – 5:57 am
With PSU banks finally offering attractive interest rates for home loans below Rs 20 lakh, the assumption was that it would spur demand in smaller towns where housing is cheaper. As getting a Rs 20 lakh home loan just got cheaper at a 9.5% interest rate, buyers flock and builders revel, a welcome break after […]
Realtors may cut prices by 30%
December 10, 2008 – 6:33 am
DLF, Unitech and other real estate developers may lower prices by 30% by mid-2009 to nudge buyers out of their “wait and watch” stance, according to experts. The price cut, if implemented by the country’s builders will also push sales higher, especially of the affordable category, property consultants said. ”Many developers will come down on […]
Realtors say, Just in time
December 8, 2008 – 5:59 am
Real estate companies have welcomed the government’s move to ask banks to announce a separate package for borrowers of home loans in the affordable housing segment as part of the overall stimulus plan to revive demand in the economy. “We welcome various measures announced today by the government in its economic stimulus package. These measures […]
DELHI TO DEVELOP SLUM AREAS SOON: REDDY
November 28, 2008 – 5:19 am
Union urban development minister Jaipal Reddy said that the government will soon make available slum lands in New Delhi for re-development. The government will follow the Mumbai model where land is auctioned to the real estate developers for building flats. Certain number of flats will be reserved for the slum dwellers at a minimal price. […]
Realty Sector demands ‘stimulus package’
November 12, 2008 – 7:08 am
National Real Estate Development Council (Naredco) and the Confederation of Real Estate Developers’ Associations of India (Credai) has petitioned the Government to ease foreign direct investment and external commercial borrowing norms and formulate a policy for rescheduling of term or construction loans to facilitate the roll-over of existing debt. The request has also to be […]
Home loan sales reviving
November 11, 2008 – 1:44 am
Bankers believe their strained home loan portfolios will see relief in the coming quarters, with interest rate cuts coming into force. “We expect our home loan offtake to increase by 22 per cent y-o-y next quarter with the fall in interest rates,” said B.R. Pai, General Manager, Syndicate Bank. The bank, which has sixty-five hundred […]
Capital won’t be issue for big realtors
November 8, 2008 – 1:29 am
Fund-starved realtors may heave a sigh of relief. Banks are now considering loans to this sector on case-to-case basis, especially for those facing genuine liquidity problems. The move follows Prime Minister Manmohan Singh’s assurance to the industry that liquidity should not be a problem for companies having good fundamentals. Leading bankers have started asking developers […]
Real Estate sector is in dire straits
November 1, 2008 – 3:27 am
The tight liquidity condition and the rise in interest rates have affected realty sector hard. Because of the RBI’s policy of discouraging banks in lending to real estate developers, the fund flow to the sector has dwindled. This might even force a number of units to close down. The construction sector, which is the second […]
Bigger Players Are Looking For Trained Agents
August 25, 2008 – 7:50 am
With the city’s real estate market being dominated by smaller and unheard of players whose actions could fright away prospective buyers, the bigger players are joining hands to give a professional touch to the realty business. “We need to bring in additional people who are properly trained agents. This can be achieved by having a […]
First Engineering SEZ In Haryana By Raheja Developers
August 21, 2008 – 5:08 am
Real estate developers Ansal API and Raheja Developers are attempting to tide over the gloom in the real estate sector by pursuing their special economic zone (SEZ) plans. While Ansal has announced plans for six infotech SEZs across three states, Raheja is setting up north India’s first engineering SEZ in Haryana. While Ansal will pump […]
Realty Gloom Reflects Stock Price
July 11, 2008 – 6:36 am
The gloom over the realty sector is reflected in the stock prices of many companies. BSE Realty Index has been the worst performer so far in 2008, having shed more than 68.5% from its January peak. Analysts expect further erosion in valuations of realty stocks with the sector facing a slowdown, input costs rising, and […]
Binani Plans To Tie Up With Real Estate Majors
July 7, 2008 – 2:32 am
Binani Cement, the flagship company of the Rs 1,700-crore Binani group, is considering long-term bulk cement supply contract with real estate developers including Raheja and Hiranandani. The initiative, if it fructifies, will be the first in the industry and other cement companies may follow suit. Binani Cement’s managing director Vinod Juneja confirmed the discussions between […]
Rate Hike To Delay Realty Projects
June 26, 2008 – 1:00 am
Real estate developers see further slump in demand and price correction due to RBI’s move to raise interest rate. Caught between slow demand and rising cost of capital and construction, developers are deferring launch of new projects. Some even fear that ongoing projects may get delayed. Indiabulls’ group spokesperson Gagan Banga said, “Interest rate hike […]
Increase In Prices For Karnataka Real Estate Property
May 23, 2008 – 1:14 am
Real estate developers in Karnataka have decided to raise home prices by 3-8% from June 10, citing steep increases in the cost of construction materials and higher labour rates. The price hike was “inevitable” because steel was dearer by 24% compared to its January level and cement prices were up 56% from the beginning of […]
Omaxe To Invest Rs 8000 Crore To Build 10 Lakh Low-Cost Houses
May 15, 2008 – 4:55 am
After low-cost airlines, budget hotels, cheap cell phones, low-cost computers et al, it’s now time for branded low-cost houses. Delhi-based real estate major Omaxe is planning to invest Rs 8,000 crore in next five years in affordable housing projects. The company has floated a subsidiary National Affordable Housing and Infrastructure which will be building the […]
Dlf Starting a new project near Panchkula
April 19, 2008 – 6:31 am
Delhi-based DLF group would shortly have its presence felt in the border of Chandigarh as the company is coming up with their DLF Garden City Project near Panchkula for which the company is eyeing two hundred acres. Out of the two hundred acres, the company is said to have acquired thirty four acres with rest […]
Multiple FDI projects may give relief to realty players
April 1, 2008 – 7:02 am
Real estate companies, who are bound by strict conditions for bringing in foreign direct investment (FDI), can now look forward to a breather. Companies developing several projects simultaneously are likely to get a waiver on meeting FDI conditions on some if majority of the projects are FDI-compliant. Realty companies are subjected to conditions such as […]
Exodus Boosts Pune Realty Prices
March 7, 2008 – 4:54 am
The building sector in Pune and neighbouring areas is in terrible straits. The mass exodus of migrant workers from UP and Bihar, following alleged threats from Raj Thackeray’s Maharashtra Navnirman Sena, has forced builders to invoke the force majeure clause to escape liabilities of delays and cost overruns.
ETA Star to venture into Indian hospitality
March 7, 2008 – 12:00 am
Dubai-based property developer, ETA Star Properties, plans to foray into the Indian hospitality industry with two properties at Bengaluru and a property in Chennai, respectively. The group has assigned an investment of two billion Dirham for its current phase of development in India. The properties developed by ETA Star Properties will be managed by their […]
Budget ’08: Industry Analysis
March 5, 2008 – 4:35 am
Everyone has expectations from the Budget and it is reasonable to accept that the Finance Minister cannot please everyone. The Budget speech reflects the absence of any significant tax changes impacting the real estate sector. It was widely anticipated that the Finance Minister will clarify taxation aspects in relation to Real Estate Investment Trusts, or […]
