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 [...]
By Rajani
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Posted in Real Estate News
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Also tagged Affordable Housing, Asset Class, Bandwagon, Chief Executive Officer, Gap, Housing Shortage, Income Group, Income Groups, Indu Projects, Inflation, Managing Director, Margins, Omaxe Ltd, Planning Commission, Private Developers, Puravankara, Real Estate Sector, Shortfall, Shriram Properties
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August 23, 2008 – 2:14 am
Foreign fund house Merrill Lynch Capital Markets has consolidated its stake in real estate major Ansal Properties and infrastructure to nearly 6%.
Merrill Lynch Capital Markets Espana SA SV has acquired as much as 11.63 lakh equity shares representing 1.03% stake in Ansal Properties through secondary market purchase route. Prior to this transaction the foreign fund [...]
By Rajani
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Posted in Real Estate News
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Also tagged Acquisition, Ansal Properties, BSE, Capital Markets, Commercial Zone, Crore Rupees, Espana, Infrastructure, Merrill Lynch, Merrill Lynch Capital, Residential Zone, Share Price, Stake., Sv
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An old Mumbai neighborhood has made it to the list of the World’s ten most expensive addresses.
A survey conducted by Wealth Bulletin, a UK based online news service has named Altamount Road, as the tenth most expensive street address in the world and the residents believe the honor is fully justified.
Falguni Patode,Resident,Altamount Road, said, “No [...]
By Rajani
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Posted in Real Estate News
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Also tagged Addresses, Business Families, Distinction, Frank Knight, Greenery, Mukesh Ambani, News Service, Old Business, Parking Space, Pranay, Quaint Neighborhood, Residential Areas, Skyscraper, Square Feet, Street Address, Survey, Tatas, World Charm
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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) [...]
By manish
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Posted in Real Estate News
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Also tagged April, Chennai, Commercial Real Estate, Consumers, Corporations, Cushman Wakefield, Economic Slowdown, Economy, Ncr, Real Estate Sector, Real Estate Services, Rental Values
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Tech Mahindra announced a capex plan of Rs. 638 crore ($150 million) for next three years, 60% of which will go as investments in physical infrastructure such as buildings and real estate while 40% will be used for enhancing technology.
The company plans to open new centres in Belfast (Ireland), Milton Keynes (UK), Chandigarh and Kolkata.
Private equity firm ICICI Venture, a division of ICICI Bank on 4th July said it has arrived at an agreement with Tishman Speyer to sell its stake in their real estate joint venture to the US firm.
ICICI Venture will sell its 50 % stake in TSI Ventures India Pvt Ltd, a real estate JV company, [...]
State Bank of India is likely to report an improvement in its asset quality when it presents its first quarter results. According to top SBI sources, the bank has recovered bad loans worth around two thousand crore rupees during April-June 2008.
Top SBI executives, when contacted, refused to comment. SBI managing director S K Bhattacharya said, [...]
By Rajani
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Posted in Real Estate News
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Also tagged Asset Quality, Bank Of India, Commercial, Credit Quality, Debt, Investments, Loan Management, Retail Loans, S K Bhattacharya, State Bank, State Bank Of India
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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 [...]
By Rajani
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Posted in Real Estate News
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Also tagged Blackstone Group, Capital, Commercial, Debt, Emmar Properties, Finance, Goldman Sachs, Lee Kim Tah, Morgan Stanley, Property Investors, Real Estate Developers, Realty Market, Realty Stocks, Religare Securities, salim group
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Unity Infraproject has announced it’s FY08 results. Unity Infra project’s profit after tax (PAT) for FY2008 stood at Rs 600 million, up 42% from Rs 423 million in FY2007. EPS for FY2008 was Rs 44.9 versusRs 32.9 in FY2007, a growth of 36%.
Out of the current order book, 56% pertains to government and 44% to [...]
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