April - 2010

Tata Housing to launch 10 new residential projects

Thu, Apr 29 2010

India's well-known realtor Tata Housing is going to launch 10 new residential projects shortly in different cities Chennai, Mumbai, Pune, Ahmedabad, Kolkata and Bangalore. The projects will include both the luxury and affordable homes. The total investment on these projects is around Rs. 1200 crore.

Noida land rates hiked by 10 per cent

Thu, Apr 29 2010

Noida Board at its 167th meeting announced a 10 percent hike in the land rates residential, commercial, industrial and institutional. Also, the board approved the budget of 2010 - 11 that includes various major development projects.

Fitch places four Indian Real Estate Companies on RWP

Wed, Apr 28 2010

India's real estate ratings Fitch has placed four renowned real estate companies Unitech Ltd, Parsvnath Developers Limited , Omaxe Ltd, and Ansal Properties & Infrastructure Limited on Rating Watch Positive (RWP). This indicates improvement in the industry fundamentals and marks its growth.

Office space rentals in India seen stable in 2010

Tue, Apr 27 2010

A recent survey conducted by real estate consulting firm C.B. Richard Ellis has revealed that rents for office space are seen stable in 2010 on account of increased spending by IT and ITES firms

Green lobby hits DDA complex

Tue, Apr 27 2010

A green panel has signaled to DDA to rework on its Rs 1578 Crore mega residential complex plan to ensure survival of the waterbodies. Keeping the ecological concerns in mind the State Level Expert Appraisal Committee ( SEAC ) had refused to give nod to the plan for construction of 33,116 housing units.

Integrated commercial complexes taking roots in India

Mon, Apr 26 2010

The demand for integrated commercial complexes is rising in India. Integrated residential complexes are already a hit among people so now the trend of commercial complexes is emerging. Such complexes offer space for 5-star Hotels and Offices. These projects are considered to be highly lucrative both for the developers and the customers.

After common man, now rich man is Tatas' target

Mon, Apr 26 2010

Tata one of India's renowned business houses is now ready to launch residential apartments for ultra rich segment. The Tata Housing Development Company is offering luxurious houses ranging from Rs. 3 crore to Rs 7 crore. The company has long been serving the interests of middle and low segments of the society but has now shifted to affluent ones.

DLF buys PE stake in DLF Assets for $696 mn

Sat, Apr 24 2010

DLF Ltd. one of the India's largest Real Estate companies invested in a convertible preference shares from SC Asia Pte Ltd. The company bought shares worth Rs. $696 million for DLF Assets, a group company. The deal has served as a boon for the DLF Assets.

Panel soon to advise Govt on Floor Space Index policy

Fri, Apr 23 2010

In a bid to consider the vertical growth of buildings in the city, The Maharashtra Government has decided to set up a committee, which will advice it on revising the Floor Space Index ( FSI ) policy for Mumbai.

RBI squeezes Banks, but home loans safe for now

Thu, Apr 22 2010

Country's home loan borrowers and prospective car buyers can now revel in to unaffected lending rate from a quarter percentage point hike in signal rates by the Reserve Bank of India ( RBI ).

Realtors see no adverse impact on demand

Wed, Apr 21 2010

Country's realty players are believing that housing demand would not be negatively affected by RBI's decision to tighten the monetary policy as the rates of home loans would remain intact of this change.

Mumbai property prices may see further upside: JLLM

Tue, Apr 20 2010

The latest real estate report released by Jones Lang LaSalle Meghraj (JLLM) says that prices for residential housing may see significant rise on account of increased sales and growing investor sentiments.

Real estate loans fall sharply due to "definition" change

Tue, Apr 20 2010

Country's apex bank RBI has revealed that fall in credit to real estate was due to the definitional change to the concept of "lending to real estate sector" effected in September 2009.

Study under way to help boost property deal revenue in Karnataka

Mon, Apr 19 2010

The government of Karnataka has held its breath for finding out bottlenecks, affecting registration of immovable properties. For this, it has tied up with a global real estate services company and sought results that will help boost its revenue from property transactions.

Remax scouting for franchisee partners

Sat, Apr 17 2010

Remax, the real estate brokerage firm of Denver (USA), takes foray into Indian market with its franchisee model. The firm is scouting for partners, however it has announced to launch it operations unit in Andhra Pradesh through a franchisee partner with base in Hyderabad.

Realty cos not ready for IFRS switch

Fri, Apr 16 2010

Certain Indian realty companies are opposing the proposed International Financial Reporting Standards (IFRS) and seeking exemption from adopting it. The standard entails reporting financial returns according to its stringent revenue recognition norms

Builders body voices concern over service tax issue

Thu, Apr 15 2010

After hearing the concerns of country's real estate developers over service tax levy on the construction of residential and commercial complexes, the Confederation of Real Estate Developers' Associations of India (CREDAI) has submitted a representation to the Ministry of Finance.

Godrej to give prime 35-acre land in Mumbai for development

Wed, Apr 14 2010

Mumbai's biggest landowner Godrej Group has announced its plans to launch a prime 35-acre chunk in Vikhroli by the end of the year. This could be one of the largest sprawls of unencumbered real estate coming into the market in the recent past.

Singapore a REIT listing magnet for India firms

Tue, Apr 13 2010

Singapore's first real estate trust offering has lured India's leading realty companies. The Indian realty icons like DLF and Unitech may revive their Singapore IPO plans, banking sources said. However, the Embassy Group has boosted its plans to raise funds in the city state.

Mumbai property expo no longer a crowd puller

Mon, Apr 12 2010

The much-hyped annual property expo, launched by Maharashtra Chamber of Housing Industry, has failed to garner realty buyers. Only a dozen of buyers were ambling across the sprawling exhibition area on Saturday afternoon.

Emaar bets big on a high return India

Fri, Apr 9 2010

One of the senior officials of Emaar Properties has announced on Thursday that it will continue to focus on India as it offers the best investment opportunities across the 16 countries in which the real estate developer

Commercial property back in reckoning

Thu, Apr 8 2010

A fleet of real estate specialists has revealed the comeback of commercial property in India. The growing demand on account improving market conditions after the global meltdown of 2008-09 has given momentum to both office and retail space

Unitech eyes demerger

Wed, Apr 7 2010

Country's second largest realty player Unitech has announced on Tuesday that it has appointed Ernst & Young and two other advisors, who will explore opportunities for potential restructuring of its businesses to unlock value for shareholders.

Buyers file FIR against DLF over refund refusal

Tue, Apr 6 2010

DLF a renowned and India's largest builder is stuck into a muddle as a group of buyers have lodged a complaint against it. The FIR states that the DLF group hasn't paid the refund of Rs. 300 crore that was promised by them but the company's officials deny the case.

Delhi still prefers independent houses

Tue, Apr 6 2010

The latest survey revealed that Delhites still prefer independent houses over multistoried buildings. 73.60% of people live in independent houses as compared to 14.81% living in flats.

Eyeing 'new office space'

Mon, Apr 5 2010

The newly built office spaces, which are high-on-amenity, have been garnering attention in Kolkata. As a consequence of fire havoc in the CBD, businesses are focusing to leave age-old buildings and set up in buildings with new facilities & high levels of safety infrastructure.

Bangalore realty expo to showcase 18,000 properties

Fri, Apr 2 2010

Being bullish over the commercial property consumption in the coming two years, the Confederation of Real Estate Developers' Associations of India (CREDAI), Karnataka has announced the two-day realty expo, which will start from April 3.

Changes in taxation of income from house property

Fri, Apr 2 2010

The proposals submitted to seek amendments in Direct Tax Code may likely to change the mode of taxation of income from house property. The proposals entail simplification of taxable income and elimination of any scope for litigation, hence it will comprise a new scheme for computation of 'income from house property.

Higher property prices put off buyers

Fri, Apr 2 2010

The growing demand for real estate in India has given momentum to the real estate prices. However, the realty gurus are expecting a downfall in the volumes of property transactions, as compared to the recent past.

India wants cheaper homes

Fri, Apr 2 2010

Though a number of luxury housing projects have been launched these day, Indian are mostly interested in buying houses worth Rs 20-50 lakh, a new survey revealed on Thursday.

India Raheja Universal plans $188.5 mln IPO-sources

Thu, Apr 1 2010

Indian real estate player Raheja Universal has revealed its plans to raise about Rs 8.5 billion ($188.5 million) through an initial public offering of shares. The firm has already filed initial papers to the stock market regulator SEBI.

Omaxe to raise Rs 800 cr

Thu, Apr 1 2010

Realty major Omaxe has stated on Wednesday its plans to raise a sum of Rs. 800 crore through private placement of shares and stake sale at projects level. The funds would be majorly utilized to repay part of its debt.