November - 2010

Realty firms under competition watchdog scanner

Tue, Nov 30 2010

As a result of multi-crore housing finance scam, the Competition Commission of India (CCI) has taken initiative to scan the competitive behavior country’s realty firms. CCI is examining 11 complaints against a few real estate firms relating to anti-competitive behavior, it said.

Realty may see 15% correction in 2011: Analysts

Mon, Nov 29 2010

There are greater possibilities of price rise in adjacent areas of cities like Mumbai, Delhi, Kolkata, Hyderabad, Pune, and Ahmedabad, predict realty experts. The prices around these cities are likely to rise by as much as 10-15%.

Developers fear scam will lead to freeze on loans

Sat, Nov 27 2010

The developers in Indian real estate sector are now worried about the availability of loans, which is going to be hit by ‘loan-for-bribe' scam. The Confederation of Real Estate Developers' Association of India (CREDAI) has said that presentation of ‘loan-for-bribe' as scam would lead to drastic reduction in credit for real estate companies.

Property prices may crash as loan scam hits funding

Fri, Nov 26 2010

The recent loan scam is likely to affect the property prices. As per the FMs directive, the banks are going cautious while lending in real estate sector, which will necessitate builders to cut down prices for improving cash position of buyers.

‘Office space sale brisk in Hyderabad'

Thu, Nov 25 2010

One of the observations found that the demand for office space has been increasing in Hyderabad, whereas the home buyers are being caution while going in for property buy due to political uncertainty in Andhra Pradesh.

Amend rules to follow carpet area norms, say builders

Wed, Nov 24 2010

The Maharashtra Chamber of Housing Industry has sought the approval of state government for amending Development Control Regulations so as to enable them to follow carpet area norms in sale of apartments.

Tulip Infratech to invest Rs 1,600 cr on housing project

Tue, Nov 23 2010

Realty major Tulip Infratech has announced its plans to invest a whopping sum of Rs 1,600 to build a housing project in Gurgaon. The investment will take place over the next four years.

Meet on real estate, urban infrastructure on Nov 24

Mon, Nov 22 2010

Girem Hyderabad Smart Future City, a summit for real estate and urban development, will be organized on 24th November and emphasize the need of smart cities and address some key issues relating to urban development, such as transportation and logistics.

Babus deprive public, corner 600 CWG flats

Sat, Nov 20 2010

As per the decision taken by Central Government, the 600 CWG Village flats will distributed to various government departments and PSUs and only 100 flats will be sold off to the general public at market rates.

Govt looks to make 'benami' transactions ban more effective

Fri, Nov 19 2010

The Lok Sabha is informed by Law Minister M Veerappa Moily that the government aims to consolidate and amend a law for prohibiting 'benami' transactions. For this, the government has started process of consolidating and amending the Benami Transaction (Prohibition) Act, 1988.

Commercial property sees resurgence in demand

Thu, Nov 18 2010

The commercial segment of Indian real estate sector is seeing surge in demand due to optimistic outlook. The research conducted by Jones Lang La Salle India reveals that corporate clients were quite aggressive during the Q1 2010 in securing space.

New high: Worli flat goes for record Rs 1.07 L/sq ft

Wed, Nov 17 2010

The sale of Worli (Mumbai) based flat has given a new high to India’s real estate sector. A closed-door auction held for an apartment, fetched Rs 1.07 L/sq ft. and the deal set a national record as well.

Parsvnath Developers Q2 net down 19%

Tue, Nov 16 2010

Showing considerable decline from its performance a year ago, Parsvnath Developers has managed to achieve profits of only Rs 49.77 crore in the quarter of September. Last year the figures stood at Rs 61.43 crore but the consolidated profits have in turn jumped from Rs. 173.07 to Rs 197.96 crore.

Unitech sells 4.99 mn sq ft area worth Rs 2,312 cr in H1

Mon, Nov 15 2010

Real estate giant Unitech Ltd. has surpassed competition by selling approximately 5 million sq ft area in the first half of the fiscal year. Even in the face of heavy rains and an acute labor shortage, the realty firm has managed to rake in profits worth Rs 2,312 crore through the residential and non-residential segments.

Parsvnath bags Delhi plot for Rs 1,651 cr

Fri, Nov 12 2010

In an auction for one of the prime realty plots in Delhi, the realty major Parsvnath Developers has cracked a lucrative deal with India Railways. Parsvnath Developers has bagged 38 acres of plot for Rs 1,651.51 crore in the vicinity of Sarai Rohilla railway station.

Illegal colonies, rural areas may escape tax net

Thu, Nov 11 2010

MCD has announced that the property owners belonging to the illegal colonies and rural areas are exempt from paying house tax. This rule is only applicable for self-owned properties having less than 200 sq m area. Such owners are liable to pay the property tax.

Allotment of Wave Hi-Tech City project begins

Wed, Nov 10 2010

Wave Infratech Pvt Ltd has started the allotment of the first batch of applicants for its Wave Hi-Tech City, a high-tech township in Ghaziabad. The allotment process is slated to end by April’11.

Vizag builders protest against steep hike in cement prices

Tue, Nov 9 2010

The local builders of Visakhapatnam have objected the steep rise in the cement prices during the past few months and expressed that government should take necessary action to regulate the prices for lessening its negative impact on the growth of the economy.

You may soon check legal status of land

Mon, Nov 8 2010

Those wishing to buy property in Mumbai will soon rejoice. Bombay High Court will in near future come out with a policy declaring that the property records will carry information about the legal issues attached to that property. The buyers can then relax and purchase a property without being troubled.

Sobha eyes Gurgaon project launch by March next

Sat, Nov 6 2010

The Bangalore-based realty company Sobha Developers is eyeing the 1st phase of its Gurgaon project, which it intends to begin by the end of this fiscal. Earlier, the project has been put on hold due to recession in 2008.

RBI measures to check price rise in high-end housing: Unitech

Thu, Nov 4 2010

The regulatory measures taken by Reserve Bank of India for housing segment will check speculation and price rise in the high-end properties and they will have least impact on mid-income segment, says India's second largest realty firm Unitech.

RBI measures unlikely to have adverse impact on realty

Wed, Nov 3 2010

The measurements announced by RBI on Tuesday for tightening home loan regulations are unlikely at affect the real estate sector adversely. Yet, the rising capital values could impact the market.

Residential property prices firming up: RBI

Tue, Nov 2 2010

The property rates in the residential segments are experiencing unprecedented growth in major metros as per the second quarter review released by Reserve Bank of India. The report states that while in Delhi the prices have skyrocketed; Mumbai has hit a stationary phase compared to the last fiscal.

Realty prices to go up in next 2 months: Godrej Properties

Mon, Nov 1 2010

Observing a stupendous demand in the nationwide realty market, the realty major Godrej Properties has said that prices in cities other than Mumbai and Delhi are possibly to increase in coming two months.