As per the report, by the Times of India newspaper, the primary beneficiaries were about 100 private and state companies that were handed contracts for 155 coal fields between 2004 and 2009 without going through a competitive bidding process. The report said that $210 billion — five times India’s annual defence budget — was a […]
Tag: Real Estate
Booking Moolah
December 17, 2010 – 4:02 pm
There is a practice of some large- and mid-sized developers accepting cheques for booking amount, without disclosing the rates per square feet and creating urgency amongst customers. In a recent case of a launch of a project by a big realty player, the initial rate at the time of launch was Rs 6,000 per sq […]
The METRO Effect
December 13, 2010 – 6:38 pm
As the Delhi metro rail moves to the various parts of the national capital region, easing the day to day life of locals in the capital, market watchers term it as a perfect opportunity to expand its real estate business. Most of the people are seeking rental accommodation close to metro stations, which is making life […]
INDIA REALTY EXPO – DUBAI 2010
December 3, 2010 – 11:39 am
The much acclaimed bi-annual India realty exhibition is going to be held in Dubai from 9th to 11th of December 2010, at Renaissance Dubai Hotel, deira, with the motto of “Your dream home in India now comes with a guarantee”, a great platform for Indian developers and HFIs trying to reach out to affluent Gulf […]
Loan Scam Backwash
December 2, 2010 – 4:38 pm
After the loan scam was unearthed last week, realty developers and companies providing home loan are finding it difficult to raise money from retail investors through corporate fixed deposits, despite offering coupon rates close to the maximum permissible limit of 12.50%. The retail investors have become very cautious of the investments they make in the […]
Real Estate Awards 2010 by Franchise India Holdings Ltd.
November 22, 2010 – 11:26 am
India’s most prestigious awards dedicated to the estate industry, to celebrate excellence and brilliance with key industry representatives at “Real Estate Awards” presented by Franchise India Holdings Limited is scheduled to be held on December 2, 2010 at Hotel Ashok, New Delhi. The Real Estate Awards 2010 are given to practices which have consistently achieved […]
Wonder of Connectivity
April 18, 2010 – 8:58 am
Development of new connectivity can add immense value to an area. It not only provides opportunity to the developers to do more business but it also provides new options to end users. Best of all, it helps in containing the price rise of real estate in the main districts of a town. The newly built […]
The TCI Demerger
March 18, 2010 – 6:31 pm
India’s leading integrated supply chain and logistics solutions provider Transport Corporation of India Ltd announced on Wednesday that its board has approved the demerger of its real estate & warehousing undertaking into a new company named TCI Developers Limited (TDL) which will be effective from April 1. The company emailed a press statement saying the […]
Nyati Group enters hospitality business
October 9, 2009 – 5:51 pm
Pune-based real estate developer Mr Nitin Nyati has made a foray into the hospitality segment with the launch of the Corinthians Boutique Hotel. Mr Nitin Nyati, Chairman-Nyati Group, said, “Entering the hospitality business was a logical extension of our existing Club business. After market research and analysis, we decided to create a destination hotel.” The […]
Debt clearance likely to use up a quarter of realty IPOs
October 9, 2009 – 5:50 pm
Nearly a quarter of the Rs 11,665 crore funding that five real-estate companies plan to raise through IPOs will be used to re- and pre-pay debt. Emaar MGF Land, Ambience Ltd, Lodha Developers and Kumar Urban Development have earmarked a part of the IPO proceeds for loan repayment. Sahara Prime City plans to invest the […]
Interest rates on home loans decline further
October 8, 2009 – 2:25 pm
An interest rate war is brewing in the home loans this festive season. Development Credit Bank (DCB) and GIC Housing offering home loans below the psychological 8%. DCB, which recently entered the segment, is offering home loans at 7.95% for loans up to Rs 5 crore at fixed interest rate for the first year and […]
Looking for SEBI norms for REITs
October 7, 2009 – 1:34 pm
PE investors in real estate projects are waiting for SEBI’s REIT Regulations so that they get an exit option once their investments mature. In the absence of REIT regulations, PE investors are unable to unlock the investments made in realty projects in the last 4-5 years. An estimated 3 – 4 billion dollars investments mostly […]
Checklist for NRIs Willing To Invest In Real Estate
October 5, 2009 – 5:40 pm
1. Doing a bit of research on the track record of builder can help. 2. For any real estate purchase it is preferable to make visits to the sites before buying them. This exercise is worth it not only because we are committing a large amount of money but also because reversing the decision proves […]
A Model real estate bill by housing ministry
October 5, 2009 – 5:30 pm
For promoting a planned and healthy real estate development of colonies and apartments in big cities, Union Housing and Urban Poverty Alleviation Ministry has drafted a bill and invited suggestions from experts. Kumari Selja-Housing and Urban Poverty Alleviation Minister- said, “The government has taken a major initiative in the shape of a model Real Estate […]
Gujarat Realtor Radhe Moves Toward South
October 5, 2009 – 3:23 pm
With “green shoots” becoming a byword for the ‘receding recession’, a new pattern may be emerging in the realty sector of South India — sell-out properties lock, stock and barrel, or reduce financial burden by signing up a joint venture wherever possible. This may lead to consolidation in a sector seen as rather unorganized. The […]
Realty player RE/MAX in Gujarat
October 1, 2009 – 2:05 pm
Real estate brokerage firm RE/MAX has commenced its Gujarat operations and plans to set up one thousand offices across India in the next five years, according to Mr Samir Chopra, Director. He said, “At present we are in Kerala, Tamil Nadu, Karnataka, Pune, Chandigarh, New Delhi and NCR. We will first go into the big […]
RJ Corp – GMR JV
September 29, 2009 – 5:36 pm
Ravi Jaipuria-owned Devyani International has inked a 60:40 JV with GMR to set up multiple food retail outlets at the Delhi International Airport. The details of the JV are still being worked out. The 250 crore rupees DIL, which is the Indian franchisee of global food retail chains Pizza Hut, KFC and coffee chain Costa […]
Omaxe may raise prices
September 29, 2009 – 5:12 pm
Real estate developer Omaxe Ltd may raise prices this financial year and plans to launch four new projects over the next two months on rising demand, its chairman said. Mr. Rohtas Goel said, “Demand might be robust. I will increase prices very soon, in single digits within this year”. The firm will invest fifteen billion […]
Real Estate Looking Forward
September 29, 2009 – 1:11 pm
The reactions to real estate market are mixed. The looking up of this market in the US economy has raised some hopes in the Indian markets too. Various real estate companies have expressed that the market is looking up, and is likely to improve in the coming days, but some companies are skeptical and want […]
Vijaya Bank looking at business from NRI accounts
September 28, 2009 – 2:01 pm
Vijaya Bank has prepared a blueprint for taking its business from NRI accounts to five thousand crore rupees by 2011. At present, NRI accounts contribute almost thirteen hundred crore rupees to its consolidated business volume. Vijaya Bank Chairman and MD Albert Tauro said, “We are working on ‘Mission NRI 5000’ to grow to five thousand […]
Developers show anger for new bill
September 26, 2009 – 5:01 pm
A draft bill on real estate regulator that will protect the interest of home buyers by ensuring a transparent and healthy real estate sector has drawn the anger of developers. According to Mr. Kumar Gera, Chief-CREDAI, “The government is trying to play nanny to the home purchaser”. According to the new bill, a builder will […]
Gayatri Projects to pay 40 percent divident
September 26, 2009 – 4:43 pm
Gayatri Projects approved a 40% dividend on its equity shares at the company’s twentyth annual general meting. The company also approved a resolution to increase the overall borrowing powers up to three thousand five hundred crore rupees, as per the statement made to the stock exchanges.
Lancor MD picks up more stake
September 23, 2009 – 1:42 pm
Lancor Holdings’ MD, Mr R.V. Shekar, has informed the stock exchanges that he is acquiring up to 5% of the equity shares in the company at current market price. According to the information, Mr Shekar has acquired 1.23 lakh shares representing 0.61% stake for a total value of Rs 1.08 crore last week. This translates […]
Punjab and Sind Bank, Hudco tie up
September 21, 2009 – 4:07 pm
Punjab and Sind Bank has announced that it has entered into an MoU with Hudco under the scheme of Interest Subsidy for Housing the Urban Poor. Loan amounts from Rs 1 lakh to Rs 1.60 lakh will be made available by the bank. A subsidised rate of interest of 5% will be charged for the […]
Raymond to enter realty
September 18, 2009 – 4:35 pm
Textile company Raymond plans to move towards realty sector. The initial project would be to develop the surplus land of 15-20 acres in Thane, where its factory is located. Mr Gautam Singhania, Chairman and Managing Director, Raymond, said in a press conference that the primary focus would be in the residential segment and funding would […]
