May - 2011

Godrej Properties launches YouTube channel

Tue, May 31 2011

Realty major Godrej Properties, the real estate development arm of Godrej Group, takes foray into YouTube Channel with an aim to offer viewers an easy access to videos of its upcoming and ongoing projects pan-India.

DLF earns Rs 6,658 cr from 10 mn sq ft sales in FY11

Mon, May 30 2011

India premier real estate developer DLF has sold 10 million square feet area worth Rs 6,658 crore in the housing segment during the last fiscal. This revenue is lower by 20 per cent than that sold in the previous year.

Ansal Properties hopes to sell 18-19 million sq ft in FY12

Sat, May 28 2011

Realty major Ansal Properties that has realized about Rs 1000 a sq ft by selling 22 million sq ft in FY11 now expects to sell properties tuning to 18-19 million sq ft during FY12, said Dinesh Gupta (chief operating officer).

JP Morgan invests $30 mn in Parsvnath project

Fri, May 27 2011

Financial services firm JP Morgan has made an investment of $30 million in Parsvnath Developers' residential project La Tropicana coming up in the Civil Lines area of New Delhi. JP Morgan will also make an additional funding for Parsvnath through its local NBFC in India.

DLF to hike prices to offset rising raw material costs

Thu, May 26 2011

In a bid to minimise the impact of rising input costs, India’s premier real estate developer DLF increase the prices of its properties in selective locations. DLF’s net profit has fallen down 19 per cent in the fourth quarter of 2010-11 and the increase in prices is majorly attributed to the downfall in profit.

Commercial realty takes a hit in Mumbai

Wed, May 25 2011

The demand for office and commercial space has seen a steep downfall in the India's business capital Mumbai. The demand has fallen more than half since last year. According to a Knight Frank India report, "office traction at a glance", demand for commercial real estate is slowing.

India poised for $5 bln wave of PE exits from property-Nomura

Mon, May 23 2011

The Delhi’s GDP has got a major contribution from real estate services amounting to more than 1 lakh crore for 2010-11. Delhi's total GDP was accounted 2.58 lakh crore for 2010-11 in which real estate services have added a dominant part.

India poised for $5 bln wave of PE exits from property-Nomura

Sat, May 21 2011

As per a Nomura report, country’s private equity investors are going to withdraw roughly $5 billion worth of Indian real estate investments in the next two or three years. The move by PE investors will add pressure to the sector, struggling with access to capital and falling property prices.

Real estate headed for a significant correction

Fri, May 20 2011

The Indian overpriced realty market is likely to come down to earth with a thud. Country’s developers have been trying hard to sell off costly property but still not getting the buyers. Furthermore, finding themselves squeezed out of the market by rising mortgage costs and inflated property prices.

Real estate player Alpha G eyeing Tier-II and Tier-III cities

Thu, May 19 2011

FDI funded real estate player - Alpha G:Corp Development Private Ltd has been eying Tier II and Tier III cities of North India to develop commercial, residential and mixed-use development projects over the next 5 years.

Kotak Realty Funds to raise 600 cr via 4th realty fund

Wed, May 18 2011

Kotak Realty Funds Group has been planning to raise Rs 600 cr via 4th realty fund, which is soon going to be launched. The funds would be primarily yielded from domestic market and invest predominantly in residential properties across India.

Delhi property registration fee hiked

Tue, May 17 2011

The Delhi government has taken a decision to increase the registration fee for properties valued above Rs 50 lakh. With this move, owning a house in the city will be a costlier affair for the people.

Real-Estate Firms Turn to Non Banks for Capital

Mon, May 16 2011

Since the most banks have shut their doors for real estate sector, country’s a number of realty firms are now eyeing non-banking finance companies for loans to pay for land, construction and pre-development of projects.

Hiranandani Group to invest up to Rs 3,000 cr in a year

Mon, May 16 2011

With prime emphasis on developing residential complexes and commercial spaces, the realty major Hiranandani Group has been planning to invest Rs 2,000-3,000 crore in the next one year.

Tishman to buy land in Gurgaon project from Emaar MGF for Rs 220 cr

Fri, May 13 2011

The global realty builder Emaar MGF has announced to part out its 104-acre Emerald Hills Township in Gurgaon and sell a share of 5 acre to Tishman Speyer for $50 million (Rs. 220 crore).

Israeli Firm to Invest in Real-Estate Projects

Wed, May 11 2011

The Israel based firm Elbit Imaging and its subsidiary Plaza Centers NV have been planning to introduce fresh investments of at least $500 million to develop real-estate projects in India. The Tel Aviv-based developer of malls wants to build a diversified real-estate portfolio in India, consisting of residential, office and retail projects.

PEA may launch Real Estate Index

Tue, May 10 2011

P E Analytics, the New Delhi-based research firm, has been planning to launch Real Estate Price Index in alliance with a leading commodity exchange. The data and analytics enable clients to spot market trends and maximise risk-adjusted returns.

PE Analytics plans to launch real estate price index

Mon, May 9 2011

PE Analytics, the Delhi based research firm, has been preparing to launch a real estate price index in partnership with a leading commodity exchange. The data and analytics enable clients to spot market trends and maximize risk-adjusted returns.

Tata Housing bags the coveted CNBC Awaaz Crisil CREDAI Real Estate Award 2011

Fri, May 6 2011

As an Integrated Sub Urban Developer, the TATA Housing Development Co. has bagged CNBC Awaaz Crisil CREDAI Real Estate Award 2011. The award was handed over by the Minister for Urban Development, Mr. Kamal Nath.

Commercial property investments to top $440 billion in 2011

Thu, May 5 2011

The leading real estate consultancy company Jones Lang LaSalle has stated that global commercial property investments are set to exceed $440 billion this year. This will be the highest since 2007.

IndusInd Bank to sell HDFC home loan products

Wed, May 4 2011

The private sector IndusInd Bank has announced on Wednesday that it will sell HDFC Ltd's home loans across more than 300 branches of its branches. IndusInd also revealed that the processing, disbursement and servicing function will rest with HDFC bank only.

RBI hike: Home buyers to pay 'penalty'

Tue, May 3 2011

The real estate body CREDAI has revealed that housing prices could go up as RBI has raised the short-term lending rates to realty developers. The RBI's decision to hike key rates - lending (repo) and borrowing (reverse repo) rates by 50 basis points to 7.25 per cent and 6.25 per cent respectively - will raise the cost of home, auto and other loans.

I-T Department purchases real estate worth Rs 2,500 crore in a year

Mon, May 2 2011

In a bid to service the nationwide taxpayers by spreading its establishment across the country, the Income Tax Department has made huge investment in the real estate during previous year. I-T Department has acquired high-worth properties worth about 2,500 crore in more than 20 cities in the last year alone.