March - 2010

Unitech board to discuss appointment of advisors for demerger

Wed, Mar 31 2010

India's second largest realty company has announced that its board will meet on April 6 in order to appoint the advisors. The meeting has been envisioned to explore opportunities for a potential restructuring of its businesses to unlock value for shareholders.

Any rate hike to dampen residential segment

Tue, Mar 30 2010

RBI's preventive measure to control country's inflation has been adversely affecting the demand for the residential real estate segment. The further rise in policy rates by the apex bank will increase the cost of home loans

Delhi, Mumbai most preferred by home-seekers : Survey

Tue, Mar 30 2010

A nationwide survey revealed on Monday that 62 per cent of prospective homebuyers are seeking for accommodations in Delhi and Mumbai. However, the year 2010 has been seen as one of the choicest real estate investment destinations.

Indian realty continues to reel after the big Jolt

Mon, Mar 29 2010

The conditions in Indian realty have been improving after the severe global slowdown. A good sign of recovery has been noticed in the sector’s segments. From the meteoric rise of 2007 to the crash of 2008-09, the sector is still grappling to find some ground, at least in India.

The rich, still for property

Mon, Mar 29 2010

The realty market in India is hopeful to recover property prices this year as investors' faith in investing in real estate continues. The joint report of Knight Frank, an international property consultant and Citi Private Bank reveals the investment trends for 2010.

Reddy seeks review of service tax on housing complexes

Sat, Mar 27 2010

The levy of service tax, on sale of housing projects under construction, proposed during in Union Budget for 2010-11 will seek review by The urban development ministry. The Urban development minister Jaipal Reddy has stated on Friday that "The urban development ministry feels the proposal of service tax needs review. I am recommending the review of the proposal."

Maharashtra to levy 1% VAT on homes

Sat, Mar 27 2010

The Government of Maharashtra has declared the levy of one per cent Value-Added Tax on property sale. This would be effective from April 1, 2010 in its Budget for 2010-11.

SBI to retain, tweak 8% home loan scheme after March 31: Official

Fri, Mar 26 2010

Countrys oldest and the largest lender, SBI has given hints over retaining its much-talked-about 8 per cent home loan scheme. The bank has hinted to reconsider the scheme with minor modifications in the product.

Court asks DDA for records on 2004 housing scheme

Thu, Mar 25 2010

On account of a petition for irregularities in the process of allotment of flats, the Delhi High Court has demanded a list of flat allotees under DDA’s 2004 housing scheme.

Ambience gets Sebi's nod for Rs 1,300 cr IPO

Wed, Mar 24 2010

The realty major Ambience, after getting approval from the Securities Exchange Board of India (Sebi) on the issue of Rs. 1,300 cr IPO, is quite bullish and seeking right time to hit the capital market.

Godrej to transfer stake to HDFC

Tue, Mar 23 2010

Realty major Godrej Properties Ltd has announced on Monday to transfer its state in form of equity share to the HDFC PMS for 450 million rupees. It will transfer 49 percent of its equity shares to HDFC PMS.

Realty firms do not see rate hikes denting sales

Tue, Mar 23 2010

In an opinion country's real estate developers and analysts stated that unexpected interest rate hike by RBI will have a very insignificant effect on the property sales. Whereas, they said another widely expected rate hike in April may slow down sales marginally.

DLF completes Caraf merger with arm, gets ready for DAL listing

Mon, Mar 22 2010

India's largest real estate company DLF has completed the merger of Caraf Builders & Construction, which owns investment trust DLF Assets Ltd ( DAL ). The merger took place with another offshoot DLF Cyber City.

Upmarket DDA housing project gets nod

Sat, Mar 20 2010

DDA has been given green signal by a 'green panel' to commence its housing project in the Vasant Kunj area in South Delhi, proposing construction of over 800 dwelling units.

100 years on, government reworks property registration rules

Sat, Mar 20 2010

The Government of India plans to rework on property registration rules. It plans to undertake replacement of century old Indian Stamp Act, 1899, which could make property registration process a painless affair.

Express Infrastructure in talks with leading hotel chains

Fri, Mar 19 2010

India's second-largest listed realty developer Unitech is now focusing on taking foray into non-core businesses viz. power, hotels, telecom and special economic zones, the media reported on Friday.

Parsvnath may sell BEST land to Kanakia

Thu, Mar 18 2010

The New Delhi based realty major Parsvnath Developers is on the path of signing deal with a local developer for its BEST land at Kurla. The property deal entails an investment of Rs 307 crore, sources involved with the deal said.

Express Infrastructure in talks with leading hotel chains

Thu, Mar 18 2010

Express Infrastructure, an integrated commercial-cum-hospitality complex developer, is working on a settlement with the big chains like Hyatt and Shangri-La. The deal involves managing the hotel property built by it inside the Rs.750 crore Express Avenue Complex here.

Mahindra Lifespace plans more townships

Wed, Mar 17 2010

Realty major Mahindra Lifespace plans to obtain around 4,000 acres in Chennai and Pune for developing two more business parks, says a top official on Monday. It has plans to acquire around 1,000 acres of land in Chennai and around 3,000 acres in Pune,

Withdraw service tax on realty'

Wed, Mar 17 2010

The Associated Chambers of Commerce and Industry of India has urged to the government to roll back the proposed service tax, entailing levy of tax on real estate developers at the time of construction. The industry body has stated that it would increase the tax burden on home buyers and impact the recovery of the sector.

DLF sells 1 m sq.ft in single project

Tue, Mar 16 2010

A new benchmark set on Monday by the India's leading realty company. DLF has sold one million sq.ft. in a single project New Town Heights DLF Kakkanad, in just over one year

Lodha Bellezza Phase III launched

Tue, Mar 16 2010

Realty major Lodha Group has announced on Monday the third phase of Lodha Bellezza, which is a luxury segment real estate project. The Mumbai based realty company's announcement was followed by auspicious Ugadi

EmaarMGF launches Palm Hills in Gurgaon, NCR

Tue, Mar 16 2010

Global realty major EmaarMGF has announced the launch of its new project Palm Hills in Gurgaon, NCR. The project will be initiated close to NH8 and at a prime location of Sector 77 of Gurgaon.

Road to riches

Mon, Mar 15 2010

The infrastructure sector in India, despite some near-term issues, promising rich growth opportunities, which could translate into superlative gains for investors. It’s palpable that the state of infrastructure in I2ndia is far behind from developed countries or even developing countries like China.

Realty expo in Kolkata

Thu, Mar 11 2010

The announcement has been done by the Confederation of Real Estate Developers' Association of India (CREDAI) to organize a real estate exhibition during 12 March 2010 to 15 March 2010 at the Science City Grounds in Kolkata.

Realty major BPTP plans Rs 1,500 cr IPO in early FY11

Thu, Mar 11 2010

BPTP, an Indian realty developer, has announced its plans to raise a fund of Rs 1,500 crore through an IPO during the next financial year. Kabul Chawla, The Managing Director of BPTP, has said on Wednesday that company has applied to Sebi for approval.

Binani Cement forays into realty

Wed, Mar 10 2010

Binani Cement, a part of Binani Group, has announced to take a foray in to commercial real estate development. The company will commence projects on its idle land bank in a move to reduce dependence on the cyclical nature of the cement business.

HCC plans Rs 50,000cr investment in Lavasa in a decade

Wed, Mar 10 2010

One of the realty majors Hindustan Construction Company (HCC) has given hints about its plans to invest around Rs 50,000 crore in its township project in Lavasa. The company plans to invests the whopping sum in a period of next 10-12 years, a top company official said here on Tuesday.

DLF hints at jacking up prices

Wed, Mar 10 2010

India's leading realty icon on Monday has given hints over the significant price rise in properties. The announcement has been leaded by interest rate hike by a few leading banks and the proposal presented by government to slap service tax on the realty sector.

Cost cutting : ICICI sells Prabhadevi property

Tue, Mar 9 2010

ICICI, India’s second largest bank has planned to sell some of its properties this year. This plan has been devised in order to control the growing costs. A Mumbai based 13 floor building Prabhadevi has already been sold by the bank.

Blues ahead for realty

Mon, Mar 8 2010

The increased prices set by builders and the recent budgetary proposals might play an active role in taking down the demand in realty sector in the long run.

LIC to undertake realty projects across India

Mon, Mar 8 2010

LIC of India takes foray in realty sector and it would undertake commercial and residential realty projects in the country at various places. Life Insurance Corporation of India is the second largest real estate asset holder after Railways, states T S Vijayan, the Chairman of LIC.

Emaar MGF gets Sebi nod for Rs 3,850 cr IPO

Sat, Mar 6 2010

In a revert to draft red herring prospectus ( DRHP ) filed by Realty major Emaar MGF September last year, the Securities and Exchange Board of India has given green signal to launch its Rs 3,850 crore initial public offer (IPO).

Realty companies opt for joint play to save on costs

Fri, Mar 5 2010

Some of the Indian realty companies have opted to work on join development deals with landowners instead of spending huge money in buying and holding land at expensive rates. The decision has been made on account of escalating land prices, unclear titles and a clear need to conserve cash.

Retailers get smart in realty deals

Thu, Mar 4 2010

Country's retailers in the realty sector have been getting back their bargaining power in respective deals, which is good symbol of overcome on the recession. "Retailers will no longer sign rental agreements at terms which do not make commercial sense." says Mr Arvind K. Singhal, Chairman, Technopak,,a management consultancy firm.

DLF, Indiabulls Real Estate Fall on India's Tax Plan

Wed, Mar 3 2010

India's leading realty developer DLF Ltd. and one of the prominent real estate companies Indiabulls Real Estate Ltd. have seen fall in BSE on account of government’s plan, which is to charge service tax on sale of homes under construction.

Pranab sets aside Rs 25 cr to curb home loan frauds

Tue, Mar 2 2010

Fraudulent people who raise several loans on a single property will now find it difficult to carry on with their deceit. Government has announced that The Central Electronic Registry ( CER ) will now maintain a database containing records of the mortgages. The loan borrower will thus be verified before the loan is allotted to them. The sum of Rs. 25 cr is sanctioned for this task.

Union Budget 2010 : Budget a mixed bag for real estate : E&Y

Tue, Mar 2 2010

The Union Budget 2010 has come up with both positive and negative plans for the real estate. The budget has all from high indirect taxes to relief for the under pressure Industry. These proposals might bring a positive wave of change in the sector.