August - 2011

Unitech plans to sell assets such as land, IT parks and SEZs to pay off its Rs 5,300-cr debt

Wed, Aug 31 2011

India's second largest realty company has decided to sell non-core assets such as Land, IT Parks and SEZs in a bid to pay off debts to the tune of Rs. 5,300 crore. To sell off its four SEZs and one IT park, the realty major has started talks with different PE funds as well as overseas real estate investment.

Eiffel Group enters into agreement with IREF

Tue, Aug 30 2011

Eiffel Group has sought funding from India Realty Excellence Fund (IREF) for developing one of its largest plotted development projects at Karjat (Maharashtra). For this, the Eiffel Group has entered into an agreement with IREF.

Indian realty sector to face tough time in next 12 months: Jones Lang LaSalle

Mon, Aug 29 2011

The leading real estate consultant Jones Lang LaSalle has said that Indian realty sector to face tough time in next 12 months. This is majorly due to US and European debt crisis that is affecting sentiments across the world. Thus, developers would face liquidity crunch, low sales and pressure on margins.

Delhi housing plan 2021: DDA on track

Fri, Aug 26 2011

In a bid to fulfill the dreams of thousands of homebuyers who do not have a permanent address in the national capital, the Delhi Development Authority has earmarked on channelizing Delhi's 27,628.9 hectares of available land into J, K1, K2, M, N, L, O, P1 and P2 zones.

Mid-level realty companies reel under rate burden

Thu, Aug 25 2011

The consistently increasing burden of interest rates has necessitated Mid-level realty companies to trim their exposure to construction stocks. A number of institutional investors expect that higher interest rate is likely to put pressure on their bottomlines at least for the next two quarters.

Samsung C&T to be contractor for Oberoi's high rise project

Wed, Aug 24 2011

Realty major Oberoi Realty has joined hands with Samsung C&T Corporation for developing iconic high rise mixed use project in Worli. The company has appointed Samsung C&T Corporation as its general contractor for its Worli project.

Indostar Seals Maiden Realty Deals

Tue, Aug 23 2011

Indostar Capital Finance Ltd, one of country's major Non-banking financial company (NBFC), has taken foray into realty sector by signing maiden real estate deals for lending around 1.5 billion Indian rupees ($32.8 million) to two Mumbai-based developers.

Buyers considering legal action on realty cos after CCI ruling on DLF

Mon, Aug 22 2011

Indian real estate buyers that are majorly hit delays in project and sudden change in building plans have been planning to seek legal action either through courts or the CCI on the realty developers. The change in attitude of home buyers has been majorly attributed to CCI's recent order against DLF Group.

Real estate still best bet despite global turmoil

Sat, Aug 20 2011

Amid the widespread economical slowdown, the demand for housing sector is likely to remain stable in the country, however the realty prices are sure to go up as it has seen in the last couple of years. Anuj Puri, chairman and country head of Jones Lang LaSalle India, says that mid-income residential real estate makes a lot of investment sense.

ICICI Bank surprises with new home loan offering, rate for first two years fixed at 10.75%

Fri, Aug 19 2011

Giving momentum to old home loan market share competition, the ICICI Bank has surprised the borrowers with new home loan offering. Now, ICICI will offer rate for the first two years fixed at 10.75%.

'HC slams DDA for over 30-year delay in allotment of plots '

Thu, Aug 18 2011

Delhi High Court has slammed the DDA for the allotment delay caused regarding a housing scheme started in 1981. The announcement came in light of the petitions filed by the applicants on behalf of around 25,000 home seekers.

DLF fined Rs 630 crore by CCI for unfair practices; work on 'The Belaire' project started without approvals

Wed, Aug 17 2011

Country's largest real estate developer DLF has been fined for Rs 630 crore by the anti-monopoly watchdog Competition Commission of India (CCI). CCI accused that the Gurgaon-based firm has used unfair practices, abuse of market dominance and "brutal disregard of consumer right"

'Singapore Indians on land buying spree'

Tue, Aug 16 2011

NRIs in Singapore are pouring their hard-earned money in buying Indian properties. Working as IT managers, doctors, bankers, engineers, researchers; these NRIs have high disposable incomes and are eying the properties at prime locations in India.

High loan rates dent housing property markets in Pb, Chd

Fri, Aug 12 2011

The realty prices in Punjab, Haryana and Chandigarh have dipped up to 15 percent in the last couple of months. The downfall has been majorly attributable to soaring lending rates that has deeply hit the otherwise booming real estate market.

Land acquisition draft bill to escalate housing prices: CREDAI

Thu, Aug 11 2011

The apex real estate body of India CREDAI has expressed that housing prices would take leap if the proposed land acquisition draft bill takes its effect. It said that the purchase of private land should not be covered under the proposed land acquisition bill.

EIH plans realty along with hotel projects

Wed, Aug 10 2011

Hospitality major East India Hotels (EIH) is soon going to take foray into developing realty projects. With an aim to achieve cost efficiency in its future hotel projects, EIH has been embarking on developing hotels across different locations.

Real estate sector stares at long-term impact

Tue, Aug 9 2011

The Indian realty market is unlikely to get under the immediate effect of the latest US economic turmoil. Realty experts feel that it's only the sentiment that would become negative in the short term. In the long run, however, the commercial property space might face the heat.

Srei to raise $500 million overseas venture capital fund

Mon, Aug 8 2011

Srei Infrastructure Finance Limited has been soon going to raise a $500 million venture capital fund from global investors. One of company's spokesperson has said that the raised funds will be deployed in domestic projects.

Godrej Properties to develop Jet Airways's BKC land in Mumbai

Sat, Aug 6 2011

The airlines company Jet Airways has signed as deal with realty major Godrej Properties to develop one of the two plots owned by it. The plots are located in the premium Bandra-Kurla Complex (BKC) Central Business District (cbd).

Mumbai-based realty cos prosper without being over-leveraged

Fri, Aug 5 2011

Where a number of India's real estate companies have been exploring options to reduce their debt burden, few Mumbai based companies including Oberoi Realty, Hiranandani and Peninsula Land, have very low, or zero, debt on their books.

HDFC raises home loan rates by 50 basis points

Thu, Aug 4 2011

India's mortgage major Housing Development Finance Company (HDFC) has announced to increase the home loan rate by 50 basis points, which will exercise an extra burden of increased EMI by 0.50% percent on the existing home loan borrowers.

DLF plans to sell Gurgaon plot for Rs 400 cr; Tata Realty & M3M Developers in race to buy

Wed, Aug 3 2011

DLF, the premier real estate developer of India, has been looking to dispose off a 27.4-acre plot of land in Gurgaon that is expected to bring fortune worth Rs 400 crore. Tata Realty & M3M Developers are likely to buy the said piece of land.

Real estate market ready for correction

Tue, Aug 2 2011

A recent a housing index has revealed that a correction in property prices has been taking place after a year of upswing that crimped home sales across the country. National Housing Bank's residential housing price index has tracked the downfall in the property rates over the previous three months.

DLF sells 400 plots worth Rs 700 crore

Mon, Aug 1 2011

India's premier real estate developer DLF has realized a whopping sum of Rs. 700 crore from the sale of 400 plots, located at Gurgaon region. Each unit of plot was sizing from 300 sq yard to 500 sq yard, which the company sold at a basic selling price of Rs 40,000 per sq yard.

Government may approve benami property act changes today to fight against black money

Sat, Jul 30 2011

The Indian government is likely to bring in amendments to the law on benami property. Such amendments to the Benami Transaction (Prohibition Act) will empower government to confiscate any property that is declared as benami, or held in the name of a person who has not paid the consideration for the property.