June - 2011

BE Billimoria bags Rs 500 cr construction contract

Wed, Jun 29 2011

B. E. Billimoria & Co. Ltd., the specialists in high-rise construction, has bagged the contract to construct Noida based developer Supertech's flagship project, North Eye in Noida. The contract deal is finalized at Rs 500 crore, entailing construction of India's tallest residential project.

Labour crunch for real estate, more technology required: Adi Godrej

Mon, Jun 27 2011

The real estate market & the construction industry of India has been facing an acute labour crunch, which is impacting the delivery of projects and cost escalations, said Adi Godrej, the chairman of Godrej group. The sector is requiring more technology to face this challenge, he added.

Residential rentals show upward trend

Fri, Jun 24 2011

During the past 6 to 12 months, the residential housing and apartment rentals in Bangalore have taken a leap in rentals and grown by 5%-10%. The increasing job opportunities across the city have been fuelling demand for rented properties.

SEBI Orders Sahara Firms to Refund Investors

Fri, Jun 24 2011

Sahara Commodity Services Corp. Ltd., earlier known as Sahara India Real Estate Corp. Ltd., has been ordered by the SEBI to return the money as the two companies had "mobilized huge public money in the guise of private placements" without adhering to the regulatory framework.

Century real estate unveils luxury villa township in Bangalore

Wed, Jun 22 2011

Realty major Century Real Estate has rolled out the first luxury villa township Century Istana in Bangalore. The luxurious Century Istana project is spread across 68 acres at Devanahalli and the villas will be priced between Rs 2.5 and Rs 4.5 crore each.

India's Oberoi Realty eyes expansion in weak market

Tue, Jun 21 2011

The Mumbai-based property developer Oberoi Realty has been planning to expand its land holdings in key cities, as debt-laden rivals struggling with rising costs and slowing sales look to cut assets, its managing director said on Tuesday.

ICICI Venture to Raise Money for Real-Estate Fund

Mon, Jun 20 2011

ICICI Venture Funds Management, the PE arm of ICICI Bank, has been planning to raise 7.50 billion to 10 billion rupees ($167 million to $223 million) for its second real-estate fund, the India Advantage Fund Two.

Punjab government to terminate Omaxe project agreement for multi-million township at Patiala

Sat, Jun 18 2011

In a statement issued by chief minister's office, the Punjab government will terminate the agreement with realty giant Omaxe for construction of a multi-million integrated township at Patiala. The decision of agreement termination has been taken on Saturday.

Home sales may squeeze more as loan rates rises

Fri, Jun 17 2011

RBI’s move to increase interest rates on 25 basis points is likely to further suppress the home sales across country, some developers and bankers said, amid apprehensions that banks may increase home loan rates again.

HDFC sees 20 per cent annual loan growth

Thu, Jun 16 2011

India's largest mortgage lender, the Housing Development Finance Corp (HDFC) is expecting to post an average of 20 percent annual growth in new lending in coming years. Despite interest rates and competition is surging in the nation, HDFC has aimed this 20 percent annual growth.

New rule being framed for apartments: Modi

Wed, Jun 15 2011

The Deputy Chief Minister of Bihar, S K Modi has said that a new rule was being framed for regulating apartments in Bihar. "The state government has ordered framing new rules for apartments in Bihar," Modi told reporters.

'Rationalise different taxes to promote affordable housing'

Tue, Jun 14 2011

As per the survey conducted by accountancy firm Grant Thornton and CII it’s been realized that a variety of taxes, relating to real estate, should be rationalized for affordable housing projects in order to tackle the rapid pace of urbanization in the Indian cities.

'Indians most upbeat on housing, money'

Mon, Jun 13 2011

A survey conducted by a global mortgage insurer has revealed that India has emerged as the most optimistic housing market in the world, because Indian home-buyers are positive about the country's economy as well as their personal finances.

DDA bid to regularize farmhouses

Fri, Jun 10 2011

Delhi Development Authority has been planning to regularize farmhouses, even those with built-up areas beyond permissible limits, while allowing new country homes on minimum plot areas of one acre.

'Property prices in Delhi jump 28%'

Thu, Jun 9 2011

One of the real estate portals on Wednesday has notified that the realty prices in Delhi’s have shot up to 28.02 per cent in the January-March period this year in comparison to the year-ago period.

Ashiana Housing net up 19% in 2010-11 fiscal

Wed, Jun 8 2011

The real estate firm Ashiana Housing has recorded a 19 per cent rise in net profit. The firms profit grew to Rs 43.86 crore in the 2010-11 fiscal from Rs 36.77 crore in the year-ago period on higher sales.

Ansal API targets Rs 2,500 crore turnover in FY 2011-12, Lucknow township scales

Tue, Jun 7 2011

Realty major Ansal API group has been intending for a turnover of Rs 2,500 crores in the FY 2011-12. Ansal API is presently carrying a land bank of more than 9,000 acres.

Gujarat Housing Board decides to develop 600 acres to meet rising demand

Mon, Jun 6 2011

The Gujarat Housing Board is set to build housing units in the urban areas for low and middle income groups. As per the latest statement released by the Chairman of the board, the decision has been taken in view of the rising realty prices in the state.

Old Buildings in Central business districts opting for makeover

Sat, Jun 4 2011

India’s most of the old crumbling buildings have been revivified by their owner, as swanky residential complexes and retail razzmatazz have significant impacted their imaginations. The realty consultant Jones Lang LaSalle (JLL) has emphasized that if a third of the current Grade B office space stock in cities across India is retrofitted into Grade A space, an additional Rs 290 crore of revenue can be generated.

Realty Bill to up ops cost by 10-15%

Thu, Jun 2 2011

Sreedhar Reddy, president of Andhra Pradesh Realtors Association and NAR-India has said that the proposed real estate regulation Bill may lead to increase the cost of operations by 10-15 per cent. The introduction of this bill would necessitate assured quality products, and legalized property.

DLF launches 1,300 plots at Indore, expects sales of Rs 300 crore

Wed, Jun 1 2011

As part of its strategy to focus on plotted development, DLF has launched 1,300 plots at Indore. The premier real estate developer is now expecting a sales realization of about Rs 300 crore from it. The company is developing an integrated township, Garden City, spread over 192 acres.