November - 2011

Bangalore best Indian city to live in: Global Survey

Wed, Nov 30 2011

A recent survey conducted by the global HR (human resources) consultancy major Mercer has revealed that the southern technology hub Bangalore has emerged as the best city to live in India. In this survey, Vienna has been ranked as the world's best city to live in.

Alexandria Equities plans $1-bn rollout in India

Tue, Nov 29 2011

As per the findings of investment bankers close to the US-based NYSE-listed multi-billion-dollar real estate investment trust (RIET), the Alexandria Equities has been planning to invest $1 billion in the Indian realty market. Alexandria is set to tie up with at least two major hospital chains in India.

Draft Realty Bill will lead to harassment

Fri, Nov 25 2011

Country's apex real estate body CREDAI has termed the proposed draft real estate Bill as a 'Public Amusement and Developer Harassment Bill' and suggested government to come up with a comprehensive and efficient alternative. However, the government said the proposed law is focused on 'Aam admi' without targeting the builders.

Housing prices spike in Mumbai, Chennai, Pune

Thu, Nov 24 2011

Unlike the other parts of the country where real estate prices are going down, prices of residential properties in six cities, including Pune, Chennai and Mumbai have shot up significantly, revealed the National Housing Bank (NHB).

Absorption of total commercial space in Chennai to go up 9%

Wed, Nov 23 2011

Real estate consultant Cushman and Wakefield has revealed that the absorption of total commercial space in Chennai would soar by nine per cent by this year end at 4.2 million square feet. As compared to supply of commercial space, the absorption rate is likely to go up.

US realtor Portman Holdings buys ICICI Venture's stake in local project

Tue, Nov 22 2011

Portman Holdings, the US-based realty investment company, has made its second investment in the ICICI Ventures' on-going housing project of the Pune-based Kolte Patil Developers Ltd. Earlier, Portman had invested in an SPV Bellflower Properties for a development called Margosa.

Piramal Group plans to lend $193 million to real estate in FY12

Mon, Nov 21 2011

Realty major Piramal Group has been planning to loan 7.5 billion to 10 billion rupees ($145 million to $193 million) to real estate projects in this fiscal year to March through its newly set up non-banking financial company, its chairman said on Monday.

Unitech inks sale of over 300 homes worth Rs 250 cr in Gurgaon

Sat, Nov 19 2011

Realty major Unitech has announced that it bagged the sale of over 300 housing units worth Rs 250 crore under a recently launched project at Gurgaon. Group housing project 'Crestview' is a part of the 500-acre integrated township that the company is developing in Gurgaon, Haryana.

India's infrastructure sector needs $1 trillion investment in 12th Plan

Fri, Nov 18 2011

A recent report has revealed that infrastructure sector in India will require a whopping investment of about USD 1 trillion in the 12th Five Year Plan, which is double the amount envisaged in the ongoing plan period.

Indian real estate expo tomorrow

Thu, Nov 17 2011

A team of real estate developers from the Confederation of Real Estate Developers' Associations of India (CREDAI)'s Kochi chapter are going to hold two-day property expo, along with Times of India, at Regency Hall, Doha.

Unitech sells properties worth Rs 2,088 cr

Wed, Nov 16 2011

Indian real estate company Unitech has disposed off nearly 3.71 million sq ft of area worth Rs 2,088 crore and reduced its debt by nearly Rs 400 crore in the first half of this fiscal. In a presentation, the company said that it has launched nearly 6 million sq ft between April and September period of this fiscal.

Industry leaders oppose proposed land acquisition law

Tue, Nov 15 2011

A number of India realty players have shown their resistance towards the proposed law for land acquisition. They asked the government to remove the trust deficit among various stakeholders on land-related issues. Industry leaders are of opinion that the act will bring a further setback for various industrial, infrastructure and urbanization projects.

Godrej group not cutting property prices: Chairman Adi Godrej

Mon, Nov 14 2011

The real estate arm of Godrej group has decided to not to cut down property prices, as it sees better demand ahead in residential projects. "Working capital for residential is less and demand is also better. We are not cutting prices, our prices are going up," Godrej said at the sidelines of a World Economic Forum event in Mumbai.

New accounting rules to hit realty companies top lines, aims to reduce the discretion

Fri, Nov 11 2011

Country's number of top realty players are likely to be affected by an upcoming accounting change that aims to reduce the discretion available to them on how to compute revenues. In future, it is likely that the revenue counting will be done as per accounting regulator's 'guidance note'.

Compat stays Rs 630 cr penalty on DLF

Thu, Nov 10 2011

Country's premier real estate developer has taken a sigh of relax after the Competition Appellate Tribunal (Compat) has stayed the Rs 630 crore penalty imposed by fair trade watchdog Competition Commission of India (CCI) over alleged abuse of dominant market position.

Draft real estate regulation Bill to be made public this week

Wed, Nov 9 2011

In a bid to seek comments from stakeholders this week, the central government is likely to make public the draft Real Estate Regulation and Development Bill, 2011. Thereafter, it may introduce the bill in the forthcoming winter session of Parliament.

Parsvnath ties up with Choice Hotels

Tue, Nov 8 2011

Delhi-based Parsvnath Developers Ltd. has announced that it will mark its presence in the budget hotel segment and for this it has tied up with Choice Hotels International, especially for offering 20-25 properties across the country.

LIC Housing sanctions more than Rs 100 cr in loans in 3 days

Mon, Nov 7 2011

India's famous NBFC Life Insurance Corporation has given approval Rs 100 crore toward home loans during a three-day property exhibition that concluded in the city today, a senior company official said.

Raheja Developers plans to develop tallest building in Delhi

Sat, Nov 5 2011

Real estate major Raheja Developers has been planning to build the tallest housing project in the prime location of national capital Delhi. The 54 storied tower will be built with an investment of about Rs 300 Cr in the heart of the national capital.

'Commercial realty players to disclose hypothecation'

Fri, Nov 4 2011

Country's apex bank RBI has issued a new advisory for nationwide banks necessitating them to bring in a disclosure clause under which commercial real estate players will also have to mention in their advertisements the name of the bank to which a property has been mortgaged.

DDA seals two towers in CWG Village

Thu, Nov 3 2011

Delhi Development Authority (DDA) has sealed on Monday over 60 flats in Commonwealth Games Village, majorly located into its two towers. These flats belong to developer Emaar MGF, and have already been sold.

RBI raises housing loan limit for UCBs to Rs 30 lakh

Tue, Nov 1 2011

The apex banking institution of India has raised the ceilings on individual housing loan an urban cooperative bank (UCB) can disburse to Rs 30 lakh from Rs 25 lakh. The central bank has also raised repayment period for such loans to 20 years.

Delhi cabinet likely to approve 'new' circle rates tomorrow

Mon, Oct 31 2011

The property prices in the national capital are likely to shoot up as the Delhi cabinet may give its nod to enhance circle rates by up to 200 for sale and purchase of property to improve the health of state exchequer and mitigate "flow of black money" in such transactions.