Tag Archives: Real Estate Sector

New Incentivised Schemes for Affordable Housing in Offing

January 14, 2009 – 3:46 pm

In its upcoming mid-term appraisal, the Planning Commission is likely to introduce couple of new schemes for real estate sector so that it acquires a priority status at times of meltdown and provide for “affordable housing”.
Announcing this at the ASSOCHAM National Conclave on Threat Before Real Estate Sector – What are Solutions? held here today, [...]

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SEZ growth may follow down track

January 9, 2009 – 12:58 am

The adverse effects of the Satyam fiasco are not only going to be felt by the IT industry. Even the real estate sector is worried.
If global clients and investors in the IT domain decide that India is not the best place to dabble in for the moment, then there is going to be an enormous [...]

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Perfect time to innovate real estate

January 5, 2009 – 4:27 am

After a long run, Indian real estate sector has begun to show signs of slump. In fact, the present changes that Indian economy and real estate sector is going through can also been seen as the test of the resilience of the economy and our real estate sector.
In fact, real estate sector is a vital [...]

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Marutham Group opens first venture in city

December 25, 2008 – 2:46 am

Marutham Group, the new name in the city’s real estate sector, opened its first venture, Marutham Gateway. The group, based in Chennai, has opened its new venture just opposite to the railway station at Pettah here.
The project comes with a number of features. The two and three-bedroom apartments offer maximum use of space and light.
The [...]

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Realty stocks continue to haunt investors

December 24, 2008 – 6:02 am

Fears of slowdown, delay in project execution and delivery and plunging profit margins continue to haunt investors who have put their money in realty stocks. According to real estate sector report by Religare Securities, there has been a noticeable decline in enquiry numbers for residential property over the past few months.
While terming all real estate [...]

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Assocham ask RBI to increase cap

December 11, 2008 – 2:17 am

ASSOCHAM ask RBI to increase the cap on priority sector home loans from Rs 20 lakhs to Rs 40 lakh. The industry body asks RBI to raise the limit in at least the metro cities including Delhi, Mumbai, Chennai and Kolkata as the property prices are increasing at a faster pace in these places.
Assocham stated [...]

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IL&FS realty fund mops up 895 million dollars

December 10, 2008 – 1:38 am

IL&FS real estate fund has mopped up $895 million (Rs 43,855 crore), promising overseas investors a return as high as 25%. The fund, called the IL&FS India Reality Fund 2, closed on Monday. Nearly 50% of the investment in the fund has come from US-based investors. The money has been raised at a time when [...]

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Real-Estate Sector does not see boost in Government’s Package

December 8, 2008 – 2:07 am

The real-estate sector does not see any boost in government’s package. The 4% Cenvat reduction on all non-petroleum products will bring down steel prices by Rs 1,000 to Rs 1,500 which in turn may lower prices in the real-estate sector where steel is a basic input. But real-estate industry today passionately said that the stimulus [...]

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RICS to set up institute for real estate in India

December 5, 2008 – 6:06 am

U.K.-based Royal Institution of Chartered Surveyors (RICS), a leading organization of its kind in the world for professionals in property, land, construction, and related environmental issues, on Thursday announced its entry into India and setting up of an institute for the real estate sector in the country.
Over one lakh property professionals working in the major [...]

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RBI makes recast of realty loans tougher

November 20, 2008 – 8:06 am

India’s struggling real estate sector is set to come under further pressure in the coming weeks as the Reserve Bank of India (RBI) has made it tougher for banks to ‘restructure’ loans, forcing them to cut house prices or risk being starved of bank funding. Banks often resort to restructuring loans — a practice aimed [...]

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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 to [...]

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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 largest [...]

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Realty stocks battered, Unitech down by over 51%

October 25, 2008 – 2:48 am

Real estate sector was the biggest loser in today’s stock market plunge, led by country’s second largest firm Unitech that witnessed a sharp fall of over 51%.
The realty index witnessed a 24.4% decline, which is more than double the benchmark index Sensex fall of nearly 11%. The index has fallen by 31 per cent in [...]

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Mahindra Lifespaces Mulls Entering Affordable Housing Segment

September 25, 2008 – 11:14 pm

Mahindra Group’s real estate arm Mahindra Lifespaces is likely to join the ‘affordable’ housing bandwagon in a year, aiming the middle-income group.
“We are looking at opportunities to enter into the affordable housing sector, but it is still at the discussion stage. It may take one year to concertise the plan,” Mahindra Lifespaces Managing Director and [...]

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Real Estate And Construction

August 29, 2008 – 2:19 am

As India continues its scorching pace of economic growth, many sectors that were not historically favoured by the government are gaining prominence. One such sector is real estate, which has a large employment generation potential and is a significant source of tax revenue. Additionally, this sector has attracted a large amount of foreign investment in [...]

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Ten Billion Dollar Ready To Make India Entry Through FVCIs

August 27, 2008 – 2:54 am

Lack of clarity over foreign venture capital investments (FVCIs) in India has led to 83 applications from foreign venture capital firms piling up with the Reserve Bank of India for approval.
Of these, about 28 venture funds (non-real estate funds) which have sought approval have committed close to $10 billion to India, according to lawyers involved [...]

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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 [...]

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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 in [...]

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Lots Of Projects In Chembur

August 19, 2008 – 5:00 am

The huge project is being developed and executed in Chembur, Mumbai by GA Builders, an “RNA Corp Group” company that would provide “New Homes” to more than 1950 tenants, according to a media release. The Subhash Nagar Colony, built by MHADA, is about 55 years old and comprises 57 buildings that house 36 members each. [...]

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TCI To Foray Into Real Estate Sector

August 18, 2008 – 2:33 am

Transport Corporation of India, so far engaged in movement of cargo over land and sea, is planning to venture into the real estate sector with pan-India presence.
“We plan to get into the real estate sector as we have land bank all over the country,” TCI Executive Director Vineet Agarwal said.
The company has 200 properties and [...]

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Prospect Of Real Estate In Jharkhand

August 11, 2008 – 12:45 am

Situated on the eastern part of Jharkhand, Dhanbad is fast rising, as a center of real estate business after Ranchi and Jamshedpur. It has a cosmopolitan culture as people from different parts of the country, mostly Gujarat and South India, have settled here because of the presence of Bharat Coking Coal (BCCL). This is the [...]

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Slowdown In The Real Estate Due To Slowdown Of The Economy

August 6, 2008 – 4:23 am

The general economic slowdown has started impacting the commercial real estate sector as was obvious by slower uptake during the April-June period of the year.
During the period, commercial real estate demand was only at 9.74 million square feet as against the supply of 18.07 million sq.ft, commercial real estate services firm Cushman & Wakefield (C&W) [...]

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REMF Cleared By Finance Ministry

July 29, 2008 – 11:36 pm

The cloud on real estate mutual funds (REMF) has lifted. The finance ministry has brushed aside RBI’s concerns of REMFs violating foreign direct investment (FDI) norms in the realty sector. North Block has said the central bank’s concern stating that REMF scheme notified by Sebi in April contradicted FDI norms was unwarranted.
The finance ministry view [...]

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Will Slowdown Stop The Journey Of Realty?

July 21, 2008 – 4:55 am

Today, there is talk of a slowdown as buyers are taking just a little longer to decide if they want to go ahead and take that decision now. Pranay Vakil, chairman, Knight Frank said, “Without a doubt, interest rates have made a difference. After all, the monthly outgo will increase”.
Taking a closer look at what’s [...]

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Problem With FDI In Real Estate

July 14, 2008 – 6:05 am

Before the globally-popular real estate mutual funds (REMF) take off here, RBI has raised a red flag. It has argued that the funds would lead to circumvention of foreign direct investment (FDI) in real estate that places limitations on foreign investors.

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