September - 2011

Over 95% home loans are floating: RBI

Fri, Sep 30 2011

Since the home loan market is comprising 95% borrowers with floating interest rates RBI has appointed banking ombudsman that has been receiving a number of complaints from borrowers on the mounting credit risks as a result of increasing interest rates. Further, RBI is expected to instruct banks to not recover pre-payment charges on floating rate home loans.

Private realtors asked to focus on affordable housing

Wed, Sep 28 2011

The Ministry of Housing and Urban Poverty Alleviation has asked the private realty company to participate in creating affordable housing stock and help in making India slum-free. The private sector should be encouraged to create affordable housing stock and help tackle the problem of slums.

Tatas launch Rs 2,000-cr rental housing project near Mumbai

Mon, Sep 26 2011

In a bid to develop a rental housing project near the metropolis, the Tata Housing Development Company has partnered with Mumbai Metropolitan Region Development Authority (MMRDA). For this, Tata Housing will invest whopping Rs 2,000-crore.

Realty regulator Bill by winter session, says govt

Fri, Sep 23 2011

With the Indian realty market hit by multiple housing loan scams and adverse judgments by the Competition Commission of India (CCI) against certain realty companies, the central government has embarked on preparing a comprehensive Bill on a regulator for the real estate sector.

DLF, 3C likely to sell Noida IT park to IDFC for Rs 500 cr

Thu, Sep 22 2011

The premier Indian realty developer DLF, along with green building developer The 3C Company, has been planning to dispose off their IT park in Noida to Infrastructure Development Finance Company (IDFC) for about Rs 500 crore.

HDIL to sell 5 million square feet land near Mumbai

Wed, Sep 21 2011

With the land parcels tuning to area around 5 million sq ft in Virar near Mumbai, the realty developer Housing Development and Infrastructure Ltd. has created sensations amid realty buyers. The developer expects to raise Rs 650 crore through the sale in the next few weeks to repay its debt.

GMADA hands out 20,000 Eco-City brochures

Tue, Sep 20 2011

The Greater Mohali Area Development Authority (GMADA) has rolled out the first lot of 20,000 brochures for its upcoming Eco-City. While the authorities have fixed the cost of the brochure at Rs 500, the same application, if filled online, can be hand free of cost.

High prices to force home loan growth dip: National Housing Bank

Mon, Sep 19 2011

National Housing Bank (NHB), the sole watchdog of housing finance in the country, has expressed that demand for home loans is likely to go down in the next few months due to high property prices. The prime reason behind the scenario is that the buyers feel there is no way of getting properties at a reasonable price, (and) they are postponing their purchases.

Land Acquisition Bill: Will new land law hurt realty sector?

Sat, Sep 17 2011

A majority of country's realty firms believe that the new land policy cleared by Union Cabinet is likely to increase gap between demand and supply. This could also affect the cost of setting up the industrial establishments, infrastructural projects and townships.

DDA likely to build over 60,000 flats

Fri, Sep 16 2011

Delhi Development Authority has been planning to build over 60,000 flats across different location in the national capital. DDA could use new technologies to construct these flats. The development is likely to include about 20,000 lower income group flats and over 4,000 lower category flats.

Religare Finvest ups stake in Parsvnath to 5.27 pc

Thu, Sep 15 2011

The financing focused NBFC Religare Finvest has increased its stake in realty firm Parsvnath Developers to 5.27 per cent from 4.5 per cent earlier. The firm has now reached to 2,29,41,954 shares in the company from earlier 1,96,20,632 shares.

PE investment in real estate down 20% in April-August

Wed, Sep 14 2011

The Indian realty market has been hit by decreased private equity investment. The PE investment fallen down by 20.2 per cent to $ 831 million (about Rs. 3,740 crore) in the first five months this fiscal due to sluggish demand.

Provogue India To Demerge Realty Biz

Tue, Sep 13 2011

In a bid to boost more liquidity, especially for its strategic and private equity investors, the Provogue (India) Ltd is planning to restructure its business by demerging its real estate business. Earlier, Provogue had raised funds for its real estate business from the UK-based Capital Shopping Centres Group.

Zandu Realty enter into agreement with realty developer Sheth Corporation

Mon, Sep 12 2011

The Mumbai-based realty developer Zandu Realty has partnered with another Mumbai-based realty developer Sheth Corporation to construct, build and develop residential housing complex on its land parcel at Dadar in central Mumbai. For this, the firm has signed a contract with Seth Corporation.

Puravankara Projects launches 20/80 deferred payment scheme

Fri, Sep 9 2011

In a breakthrough offer the Bangalore-based realty developer Puravankara Projects has launched a 20/80 deferred payment scheme that will allow customers to pay 20% of total cost of the apartment initially and rest only at the time of possession.

Land Acquisition bill to increase land, housing prices: CREDAI

Thu, Sep 8 2011

Country's apex real estate body has urged the legislators that the land acquired by private companies should not be covered under the land acquisition bill. Such acquisition would lead to a sharp rise in land cost and affordable housing would become impossible.

DLF to challenge CCI order in Competition Appellate Tribunal

Wed, Sep 7 2011

Real estate developer DLF has announced that it will move to the Competition Appellate Tribunal by early next week, to appeal against the Competition Commission of India's (CCI) order imposing a Rs 630-crore penalty on the firm.

Housing prices firm up across cities;Bhopal posts 34% increase, Delhi 17%

Tue, Sep 6 2011

The consistently soaring house prices across the Indian real estate, during the April-June quarter, has discouraged the homebuyers and demand for the properties has dipped significantly. A survey by the National Housing Bank (NHB) has notified Bhopal as the gainers.

CREDAI opposes proposal to form regulator for realty sector

Mon, Sep 5 2011

Country's apex real estate body CREDAI has shown its disparate views over constitution of a regulatory body for the real estate sector, saying that it would become a "breeding ground for corruption" if implemented.

Wave Infrastructure pays about Rs 375 cr for registry of Noida land

Sat, Sep 3 2011

Realty major Wave Infrastructure has announced that it paid about Rs 375 crore as stamp duty for registration of about 151 acres of land in Noida. The deal of 151 acres land was cracked by realty developer for a consideration of whopping Rs 6,570 crore.

Forbes ranks Ashiana Housing in 'Asia's best under a billion' companies

Fri, Sep 2 2011

The Delhi based Ashiana Housing Ltd. is the only real estate company from India to figure in 'Asia's Best Under A Billion list of companies compiled by the Forbes magazine for 2011. The list from Forbes exhibits the 200 top-performing small and midsize enterprises having revenues under $1 billion.

Soaring input prices hurting Punjab realty sector, says Assocham

Thu, Sep 1 2011

The Associated Chambers of Commerce and Industry of India (assocham) has notified that the construction projects across Punjab real sector have been getting delayed and even getting cancelled due to upsurge in the prices of input material like cement and shortage of skilled manpower.