March - 2011

Mumbai realty robust despite small fall in flat sales in Feb

Mon, Mar 28 2011

The real estate market of Mumbai has been consistently soaring despite a minor blip in February when flat sales clocked a 2.40 per cent decline. Nonetheless a marginal decline in flat registrations at 16,341 in February as against 16,743 registrations in the year-ago period, the realty market in the city has been maintaining growth pace.

Demand for home loans has declined, says SBI

Fri, Mar 25 2011

India’s largest government sector bank, State Bank of India (SBI) is like to reveal a decline in the year-on-year growth in home loans in the current fiscal, according to a top official of the bank, who did not wish to be named.

Comm property to see robust demand in 2011 first half: Survey

Tue, Mar 22 2011

A survey on Real Estate industry has revealed that the demand for commercial space in the country is likely to soar in the first half of 2011 on account of robust manufacturing activities.

Dutch co FMO to invest Rs 250 cr in Pune realty project

Mon, Mar 21 2011

FMO, the Netherlands-based financial institution, has announced to deploy $55 million (or 250 crore) as investment in a Pune realty project of Kumar Urban Development. The investment will take place through compulsory convertible debentures.

Lower stamp duties can check corruption in real estate: PM

Sat, Mar 19 2011

In a bid to check the flow of black money in the real estate sector, the Prime Minister Manmohan Singh has taken initiative for help reduce stamp duties. He termed stamp duties as a "big obstacle" in ensuring transparent transactions in real estate.

Home, auto loans set to get costlier as RBI hikes key rates

Fri, Mar 18 2011

The apex banking institution Reserve Bank of India (RBI) has raised the key policy rates by 25 basis points on Thursday, making the home loans, auto loans and loans to businesses more costly. Now, owning a dream house or a swanky set of wheels will be a costlier affair for the denizens.

MCD says will allow floor-wise sanction of building plans

Thu, Mar 17 2011

In wake of growing percentage of nuclear families, the Municipal Corporation of Delhi (MCD) has decided to allow floor-wise sanctioning of buildings. MCD has taken this decision after observing that more and more families turning nuclear and dividing their houses into individual floors.

Parsvnath Developers to sell stake in SPV to PE fund for over Rs 100-150 cr

Wed, Mar 16 2011

The Delhi based real estate major Parsvnath Developers is about to sell stake in its Parsvnath City project in Sonepat for Rs 100 - 150 cr, one of concerned persons of development revealed. Parsvnath is in talks with 2 Private Equity (PE) firms for the stake sale in the SPV.

Real estate most corrupt sector: KPMG

Tue, Mar 15 2011

As per a survey conducted by KPMG, the Indian realty sector tops the list of the most corrupted sectors in India, followed by telecommunications and social development sectors. Half of the respondents, included in survey, are of the view that real estate, construction and telecommunication sectors are most prone to corruption.

Home and auto loans are set to get pricier

Mon, Mar 14 2011

The home and auto loan borrowers may have to bear extra burden of higher interest rates, as country’s various economists are looking ahead to policy interest rate hike by 0.25 per cent. The apex bank is expected to hike rates in its mid-quarter credit policy review on Thursday.

India, China among highest taxpayers in the world for commercial property

Thu, Mar 10 2011

A study conducted by Taxand, an independent global tax advisory, ranks Indian taxpayer on 3rd position in the world when it comes to selling commercial property, after Norway and Malta. This study included 23 countries, where incidence of taxation for various categories of real estate was measured.

Solid demand for swanky homes in Hyderabad

Wed, Mar 9 2011

Where affordable housing is facing crisis even after slashing prices by 30 to 40 per cent, the premium realty segment of Hyderabad that has witnessed a jump in sales over the last few months. The soaring demand in luxury housing has encouraged developers to hike their property prices by a good 15-20%.

Kotak Realty in largest RE fund exit

Tue, Mar 8 2011

In country’s one of the largest RE fund exits, the Real estate major Kotak India Real Estate Fund I has announced the sale of Peepul Tree Properties Private Limited (Peepul Tree Properties). Kotak sold this fund in consideration of Rs. 525-crore (USD 117-million) to Tata Realty Initiatives Fund 1.

Rs 125 crore housing project for senior citizens

Mon, Mar 7 2011

M R and Associates and Promoters India Ltd., one of the Coimbatore based realty promoters has launched a Rs 125 crore housing project at Puluvapatti, on the outskirts of the city for senior citizens. The project will be inclusive of 120 apartments, 60 each in one block, with two and three bedroom facilities, and 30 individual villas on five acres.

Office costs to grow driven by India, China demand

Sat, Mar 5 2011

The period between 2011 to 2015 will see a rise of 2.5 per cent on average in the Global occupancy costs for prime offices, due to increasing demand for floor space in the dynamo economies of China and India, a survey showed on Thursday.

Asian property folio growth to beat US

Sat, Mar 5 2011

A survey has revealed that the real estate portfolios of global countries will grow the most in Asia by 2013 due to towering economies of China and India. The Global Corporate Real Estate Survey by Jones Lang LaSalle and Thomson Reuters found respondents believed growth would be strongest in Asia Pacific.

HDFC hikes home loan rates again

Thu, Mar 3 2011

India’s largest mortgage finance company HDFC has increased the benchmark rates for the second time in less than four weeks. This move will make home loans a costlier affair for the borrowers. HDFC has increased the retail prime lending rate (RPLR) on housing loans by 25 basis points (bps).

Tata Housing to invest about Rs 3,000 cr on afforable houses

Wed, Mar 2 2011

Tata Housing Development Company is planning to intensify the development of affordable homes across the country. It has announced about launching 7-8 more projects in the segment, by investing up to Rs 3,000 crore next fiscal.

Cement prices may go up Rs 10-12 a bag

Tue, Mar 1 2011

A reshuffle in the excise duty on cement, announced in the budget session of 2011, is likely to push up the retail prices of cement by Rs 10 to 12 a bag. This hike will add to the cost of construction.

CII for increase in flow of capital in housing segment

Tue, Nov 30 1999

The Confederation of Indian Industry (CII) has stated that there is need to improve the infrastructure and increase in flow of capital in the housing segment on account of increase in the land prices.