October - 2011

Pre-closure charge on housing loans set to go

Sat, Oct 29 2011

Whereas RBI's recent move to increase the repo rate is likely to make home loan interest rates dearer, has The National Housing Board (NHB) has given sops to home loan borrowers by issuing directive to housing-finance companies that they should not impose a prepayment levy or penalty on pre-closure of housing loans.

Soaring Indian realty ambitions belie rocky foundations

Thu, Oct 27 2011

In the words of many real estate insiders, the growth of the Indian Real Estate sector is set to slow down in the coming times. High interest rates, rising costs of building material and labor coupled with a sales crash are being considered the major reasons for the same.

RBI hikes repo rate by 25 basis points; home, auto loans likely to get costlier

Tue, Oct 25 2011

Country's apex bank RBI has increased the repo rate by 25 basis points to 8.5 per cent. Now, home loan and auto loan borrowings are likely go dearer. The rate hike is the 13th since early 2010.

63 DDA plots up for grabs in Nov

Mon, Oct 24 2011

The Delhi Development Authority (DDA) has announced to auction sixty-three residential plots in Delhi. The plots will be up for grabs on freehold basis in areas like Panchsheel Park, Vasant Kunj, Friends Colony, etc.

Mumbai suburbs to get addl FSI: Chavan

Fri, Oct 21 2011

The Maharashtra state government has been planning to offer an additional 0.33 FSI (floor space index) to the realty developers in Mumbai suburbs for a premium. "We have decided to provide additional 0.33 FSI to the developers in the suburbs on payment of a premium, said Mr. Prithviraj Chavan (Maharashtra Chief Minister).

Realty promotors buy shares of their companies

Thu, Oct 20 2011

A number of country's realty promoters have now started buying the shares of their companies that is majorly due to steep fall in valuations. Promoters are also bullish over a turnaround in the property market which ahs been stagnating for more than a year.

Real estate developer Akshaya plans to strengthen its presence in south India

Wed, Oct 19 2011

Realty Major Akshaya has been planning to strengthen its presence in south India. The developer has prepared plans for next 5 to 10 years with prime emphasis on taking foray into new verticals like developing commercial properties, Information Technology parks, health care and schools.

Delhi property: Govt proposes 50-200% increase in circle rates

Tue, Oct 18 2011

In a bid to crack down on the black market, the Delhi government has been planning to bring in another hike in circle rates. A draft proposal by the revenue department suggests a hike of 50% to 200% across different categories of colonies.

Oberoi Realty overtakes Unitech as 2nd most valued realty firm

Mon, Oct 17 2011

Realty major Oberoi Realty has pipped India's second largest realty company Unitech in terms of market capitalization. Oberoi Realty's market cap now stands at Rs 7,372.12 crore, higher than Unitech's Rs 7,149.92 crore.

Wadias, Piramals, Godrejs, Lalbhais and Tatas plan to develop their land bank instead of selling them

Sat, Oct 15 2011

A number of India's industry players like Wadias, Piramals, Godrejs, Lalbhais and Tatas are now planning to make their realty portfolio richer by unlocking revenue potential in large tracts of land held by them over generations. These business houses are turning real estate into their core business.

Home loan borrowers to pay 15% more in EMIs

Thu, Oct 13 2011

A recent report by CRISIL has revealed that country's home loan borrowers will have to bear an additional annual burden of about Rs 6,000 crore. This is attributable to increase in equated monthly installments (EMIs) due to rising interest rates and reset of teaser loans.

Office space supply to exceed demand by 2015, says Cushman & Wakefield and Global Real Estate Institute report

Wed, Oct 12 2011

Cushman & Wakefield and Global Real Estate Institute have highlighted that the office space market in India's top seven cities will see total supply of nearly 243 million sq ft by 2015 and this would be 17% higher than estimated demand.

Banks dole out more sops to get loans going

Tue, Oct 11 2011

Already hit by consecutive increases in the home loan interest rates by RBI, a number of banks have now started lining up round of concessions in a bid to get the festive season to finally reflect in their loan books.

Premium realtor Jaycee Homes eyes low-cost housing foray

Mon, Oct 10 2011

Real estate developer Jaycee Homes has revealed its plans of taking foray into the affordable housing segment. The premium property developer will develop around 2 million square feet of land holdings in the Mumbai region over the next four years to capitalize on demand, a top company official said.

Sale deed must for selling property: SC

Mon, Oct 10 2011

Country's apex court has held that all the property sales will be held invalid unless the transaction is by way of a sale deed duly stamped and registered. The move has been meant as a blow to “land mafia” and the black money menace.

Indian realty FDI may slow, says Cushman head

Fri, Oct 7 2011

One of the senior officials of Cushman and Wakefield has revealed that FDI in Indian realty sector is likely to go down as capital waiting to be deployed in the sector gets increasingly cautious, resulting in fewer investment deals in the realty segment that has seen property prices go past the peak of 2008, prior to the global economic slowdown.

Godrej Properties in development pact with Godrej & Boyce

Wed, Oct 5 2011

Realty company Godrej Properties has partnered with Godrej & Boyce (G&B). The two have signed agreement, effecting Godrej Properties to manage development of the group-owned land in suburban Mumbai.

Bombay Dyeing on path to transform into realty company

Tue, Oct 4 2011

The textiles major Bombay Dyeing, after seeing dwindling revenues over period of time, has now been expecting to generate over half of its revenue from the realty business during this financial year and three quarters in five years.

Mahindra plans affordable houses up to Rs 10 lakh

Mon, Oct 3 2011

The Mahindra group has been planning to take foray into affordable housing segment of country's real estate market with homes priced up to Rs 10 lakh across many cities in the country.

Omaxe gets shareholders approval to raise Rs 600 crore

Sat, Oct 1 2011

Realty major Omaxe has got green signal from its shareholders for raising additional funds of Rs 600 crore. The decision was taken in at annual general meeting, where shareholders approved "raising of additional long term funds up to Rs 600 crore.