January - 2011

Real estate developers body to host 2-day conference

Mon, Jan 31 2011

Southcon 2011, a conference for developing interaction between member organizations of four southern states, will be hosted by The Confederation of the Real Estate Developers Association of India (CREDAI) on February 4 in Bangalore.

Home loan foreclosure fees hurt clients, competition: CCI probe

Sat, Jan 29 2011

As the Competition Commission of India (CCI) is favoring the scrapping of foreclosure charges on housing loans, country’s home borrowers have got another chance to cheer. CCI feels the foreclosure charges on housing loans as constraint on competition in the banking industry.

Vigneshwara Developers to build technology park for HSIIDC

Thu, Jan 27 2011

The emerging realty player Vigneshwara Developers has embarked on a contract with Haryana State Industrial & Infrastructure Development Corporation (HSIIDC), which necessitate it to develop a ten-acre business-cum-technology park for the body. The construction will take place within the 150-acre technology corridor at Manesar in Gurgaon.

Housing rates in Delhi, Mumbai may fall

Mon, Jan 24 2011

Depending upon the increment in key rates of RBI’s upcoming monetary policy review, the housing prices may see steep decline in Mumbai and Delhi-NCR. Property consultant Jones Lang LaSalle has reported that house prices may go down by 20% sooner than expected, if RBI raises the key rates.

SBI home loan utsav from today

Sat, Jan 22 2011

The State Bank of India (SBI) has organized a three day event called SBI Utsav, which will exhibit its bouquet of home loan products. The event is joined by around 60 real estate developers/builders and auto dealers.

India to court private, foreign arms to build cities

Fri, Jan 21 2011

In a bid to boost the development of its rapidly expanding cities, India will now focus on reaching out to private and foreign investors. It will venture into public-private partnerships (PPPs) to help build its swiftly growing cities.

Global property investments to hit $380 bn in 2011

Thu, Jan 20 2011

Real estate pundits have forecasted that the global realty market will see a rise of 20 percent this year in the investment. This rise will take the investment figure to $380 billion. This scenario is led by a sharp rebound in the United States, with total volumes still about half the market's 2007 peak, a report said.

SBI plays 'priority' card to avoid higher teaser loan provisioning

Wed, Jan 19 2011

In a bid to comfort borrowers, country’s pioneer teaser loan provided has urged the apex bank to waive the higher provisioning requirement for home loans and auto loans. RBI had mandated higher provisioning for teaser loans – which offered lower rates in the initial years and higher in the subsequent ones.

Illegal colonies: No penalty on owners, yet

Tue, Jan 18 2011

Delhi government’s decision, on finalizing development charges and recovering land cost from residents of over 1,600 unauthorized colonies, has again been deferred on account of sharp differences among ministers on the issue.

Ansal sells properties worth Rs 1,714 cr in Apr-Dec 2010

Mon, Jan 17 2011

Real estate major Ansal Properties and Infrastructure Ltd has bagged Rs 1,714 crore by selling its properties during the first nine months of this fiscal. With this, the firm’s sales realizations have improved by 24 per cent compared to the year-ago period.

Godrej Properties expects to double sales in FY11

Fri, Jan 14 2011

Realty major Godrej Properties is bullish over its sales during this fiscal year. The company is expecting its sale to rise double than it was standing from a year ago, a senior official said on Friday.

Home loan interest rates likely to go up

Thu, Jan 13 2011

After observing deterioration of bank asset portfolios, which occurred during this financial year, the apex banking institution has taken a corrective measure to tighten up the real estate lending norms, both for retail customers and developers.

Parsvnath raises Rs 100 cr via equity sale in Ghaziabad proj

Wed, Jan 12 2011

India rapidly grooming realty firm Parsvnath Developers has revealed that it has raised Rs 100 crore by selling 49.9 per cent stake in a housing project at Ghaziabad to private equity (PE) firm Sun Apollo.

SBI to lend only to reputed builders

Mon, Jan 10 2011

India’s significant commercial banking body SBI has decided to fund only to reputed builders, whose projects have got all the clearance from civil and legal authorities. The step from SBI has resulted on account of increasing cost of construction material and RBIs strict dealing with commercial real estate.

Last date of paying property tax extended

Fri, Jan 7 2011

NDMC, has announced extended the last date of payment of property tax for 2010-2011, with rebate. Earlier the last day of property tax was 31 Dec 2010, which is extended to 31 Jan 2011. Now property tax payers may pay their property tax till 31 Jan 2011, with rebate.

Property prices to rise in next one year, then correct: NHB

Thu, Jan 6 2011

In wake of USD 500 million loan for low cost housing from World Bank, the The National Housing Board (NHB) has said that property prices would rise in the next one year. NHB expects that this rise will dampen the impact on demand and will result in correction of prices.

Kotak Realty sells residential plot to Homex for 130 crore

Wed, Jan 5 2011

The real estate firm Kotak Realty Funds Group has disposed off its 20 acre residential plot in Old Mahabalipuram Road in Chennai for Rs. 130 crore. The plot has been sold to Homex, a Mexican pre-fabricated affordable housing company.

Gurgaon, Mumbai housing markets may see correction in 2011: C&W

Mon, Jan 3 2011

Realty expert Cushman and Wakefield has indicated that housing market of the Gurgaon and parts of Mumbai may see some correction in values. As per C&W, the new sources of supply, entered in realty market, are likely to improve the value.

Demand to slow down in residential realty segment: study

Tue, Nov 30 1999

The rating agency Fitch has revealed a study according to which the absorption rate of residential segment in the realty market is likely to slowdown in the near future. Fitch has held responsible strong increase in unit prices, witnessed in the second half of calendar year 2010 (H2CY10).