June - 2010

Teaser rates on home loans to go as base rate debuts

Wed, Jun 30 2010

A host of India's leading lenders, who had lent teaser rates on mortgages through special schemes in order to give rise offtake of loans, have decided to withdraw such schemes on Wednesday. From July 1, banks would be working on a new system of pricing loans.

Realty developers sign deals for IT space

Tue, Jun 29 2010

The great comeback of IT and ITES industry in Andhra Pradesh has given boost to the office space demand in the state. Some of top realty developers like Rahejas and Divyasree have signed up deal with big IT companies for more than 32 lakh sq ft of office space.

Arvind Mills in joint venture to develop residential projects

Tue, Jun 29 2010

Arvind Mills has announced to commence work on a Rs 225 crore residential project in Ahmedabad, in a joint venture with B. Safal Group. The company owns a land bank of 600 acres in and around Ahmedabad.

India ranks 13 in housing sector, China tops

Tue, Jun 29 2010

Improvements seen in the global housing market has significantly affected India, as it stands at the 13th rank on the globe scale, in terms of price rise in the residential sector for the year ending March, said property consultancy firm Knight Frank.

Realty companies tracking learning curve

Tue, Jun 29 2010

In order to ride growth in the $80-billion-plus industry, the leading infrastructure and real estate companies viz. GMR and Hindustan Construction Company have taken foray in setting up campuses for universities and higher education institutes.

Buying a house in a metro still best bet

Mon, Jun 28 2010

The data released by Residex, a residential property price index by the National Housing Bank, to evaluate price rise in the metro cities of country have revealed that buying houses in a metro still best bet.

Office space absorption to rise by 23mn sq ft. rentals to fall

Mon, Jun 28 2010

As per a report by realty consultant Jones Lang LaSalle Meghraj (JLLM), it has been found that the strong recovery in global economies as well as increasing software and services export have given boost to office space demand, especially from IT/ITES sector in the first half of 2010.

Maharashtra may raise FSI in Mumbai suburbs

Sat, Jun 26 2010

In a bid to hike the floor space index (FSI) in the certain suburbs of Mumbai, the Maharashtra Government has been seeking revision in the to the Mumbai Regional Town Planning Act.

Need for pvt participation in providing affordable housing

Sat, Jun 26 2010

In an effort to provide affordable housing to slum dwellers in the city, the Maharashtra government has evoked private companies to actively participate in giving shape to the efforts.

ICICI Bank sees 20 pc rise in FY11 home loan demand

Fri, Jun 25 2010

One of India's private sector bank, ICICI has been expecting a steep rise of 20% in the home loan demand in financial year 2011, the chief executive of the bank's housing finance unit said on Friday.

Forged rent receipt can cost job: HC

Thu, Jun 24 2010

In strict words, the Delhi High Court has held that any forgery vis-a-vis rent receipt can cost an employee his job. The person misleading with such cases can be dismissed from service even in the absence of any rules.

Higher FSI rules may not mean more affordable housing

Wed, Jun 23 2010

The affordability of Affordable Housing would no more be a phenomenon as State Government order to raise the Floor Space Index is likely to landowners intentions to raise prices or seek greater share of the sale proceeds in the case of joint development.

1-BHK flats in Mumbai's old Khar society sold for Rs 4.5 crore

Tue, Jun 22 2010

Each family in the Khar housing society has been gifted by a whopping sum by a builder for their mid-sized flats. Mumbai-based Parinee Developers has been buying off their flats, hence it has shelled out between Rs 4 crore to Rs 4.5 crore for a one-BHK flat and Rs 5 crore to Rs 5.5 crore for a two and-a-half-BHK.

Property dealers in city woo investors with cars

Tue, Jun 22 2010

In order get out of the slump of close to two years, real estate companies who have blocked their money are wooing clients with freebies. For this, a property dealers' exhibition was held in which 13 real estate dealers from the north India participated.

Realty cos line up for OM Metals Bandra property

Sat, Jun 19 2010

A number of major realty companies have been approaching Om Metals Infraprojects, which is a hydro-mechanical engineering services company, to be a parts of its plans to develop a prime property at Bandra in Mumbai's western suburb, a top official says.

Delhi and Mumbai have best living standards: Survey

Fri, Jun 18 2010

The results, brought in to notice by a survey, revealed that the Delhi and Mumbai have the best living standards in the country. On the contrary, the two districts of Orissa i.e. Rayagada and Kandhamal are at the lowest ebb.

Crumbling mansions into hotels?

Fri, Jun 18 2010

Apex Heritage Hotel India Body has hinted that many of mansions, made with Indo-Portuguese architecture style, have been loosing their grace and require instant action for preservation and renovation.

DTC cheers home loan borrowers

Thu, Jun 17 2010

The proposal made by government to keep the income tax exemption for up to Rs 1.5 lakh as interest on housing loans in a year, has brought smiles to many home loan borrowers

Delhi property prices set to rise

Wed, Jun 16 2010

Delhi government has finally completed its homework to revise the circle rates for sale and purchase of properties in the Delhi. The move will surely affect the price lever in the realty sector to a significant level.

Mumbai property prices to rise

Wed, Jun 16 2010

After the High Court decision on FSI (floor space index), the real estate rates of suburbs in Mumbai have soared high. The price hike that is witnessed is of 1.33 that was 1 earlier.

Realty firms told to recast target-linked FDI deals

Mon, Jun 14 2010

The Reserve Bank of India has directed a number of companies, mostly dealing in realty sector, to streamline the deals they have cut with foreign investors.

Real estate projects boost cement sales in May

Thu, Jun 10 2010

The sale of cement has seen steep rise during may on account of increased demand from infrastructure projects ahead of the monsoon. There has also been greater offtake from large real estate projects.

Karna poor to get 2L houses

Thu, Jun 10 2010

The poor across the state of Karnataka will be gifted by state government with 2L houses by the April 2011. State Minister for Housing Katta Subramanya Naidu has said that the government of Karnataka has set an objective of distributing two lakh houses and as many house sites to the poor in state.

Lodha Group plans Rs 2K-cr tallest residential tower at Mumbai's Worli

Wed, Jun 9 2010

Lodha Developers, one of country leading realty players, is planning to build world tallest residential building, approx 1,450-feet with an investment of Rs. 2,000 crore in central Mumbai. Project WorldOne will come up at Upper Worli on a 17-acre plot, by 2014.

Property prices up 54%

Wed, Jun 9 2010

A study conducted by one of realty portals revealed that that property prices in ncr have risen by up to 54 per cent, during the first quarter of 2010. The price rise is majorly advocated by higher demand in the real estate sector in the region.

Sops for affordable housing

Wed, Jun 9 2010

In order to provide relaxations to the lower and middle income group housing, the Department of Municipal Administration and Urban Development (MA&UD) has issued an order, entailing a fix amount of concession to affordable housing units with built up space of up to 1200 sq.ft.

Complete home solutions might give brokers a run for their money

Tue, Jun 8 2010

A Mumbai based home solutions firm deals to open over 100 franchisees for establishing real estate service outlets has spurred competition amid real estate brokers in Mumbai. The franchisee outlets would be opened up across 100 locations in the city.

Redevelopment in crowded Mumbai a fillip for realty

Tue, Jun 8 2010

On account of Greater clarity in rules and thriving demand for more houses in land-starved cities, realty developers and builders have been staring at growing opportunities in redevelopment after a 2-year market slump and recession.

CCI plans 'suo motu' probe on realtors to check malpractices

Mon, Jun 7 2010

The Competition Commission of India has planned to suo motu inquire the wrongdoer builders and developers in the realty sector. The commission’s initiative, to check unbridled malpractices in the realty sector, will go side by side with its function of looking into specific complaints against market leader DLF.

Land allotment in 48 hours arbitrary: SC

Fri, Jun 4 2010

Dejected by Punjab Government resolution over issuing a residential plot for an influential woman within just 48 hours, SC has held that such impromptu allotments of land to individuals is arbitrary, unreasonable and unconstitutional.

Tishman Speyer looking to expand operations in India

Thu, Jun 3 2010

Tishman Speyer, which is counted among world's topmost real estate developers, has disclosed its first property in India. Also, the firm has announced its plans to further expand their projects in Delhi and Mumbai

Builders threaten stir, wants dues Cleared

Wed, Jun 2 2010

In a plead against clearance of pending dues totalling about Rs 5,000 crore, the Builders Association of India, Andhra Pradesh Chapter, has warned Andhra Pradesh Government. It has also urged that any fail in the clearance process will lead them to launch an agitation.

Court cracks down on builders

Wed, Jun 2 2010

In order to protect the rights of Apartments Owners in the capital, The Delhi High Court has issued directions to the NCT government to strictly implement the law dealing. Court has asked government to lay down guidelines to curb violation of the legislation by promoters and builders.

Foreign funds raise stake in Indiabulls Real Estate to 5 pc

Tue, Jun 1 2010

One of India's well-known Real Estate group Indiabulls Real Estate Ltd. told press that the famous foreign investors Dauphine Mauritius Investment Ltd and Copthall Mauritius Investments Ltd. have increased 5 per cent stake in their firm. The transaction took place through an open market.

SE Investments plans low-cost housing company

Mon, May 31 2010

SE Investments today said it would float a subsidiary targeting low-income clients. The company, which is a leading player in the micro finance space, aims to float a separate subsidiary in the next one month and plans to approach the National Housing Bank soon for necessary approval. It would initially launch operations in four states-- UP, Rajasthan, Gujarat and Delhi.