Chennai
The Confederation of Real Estate Developers Associations of India (CREDAI) has put forward a plan to the Prime Minister to enable reforms in the real estate sector and help rejuvenate it. Home sales registrations continued to decline in the first half of 2012, although by only 3.4 per cent when compared to the same time [...] Continue Reading »
Due to less supply and delayed monsoon, cement costs rose to Rs 55 per bag across markets. A source said the hike will not stay long since it is due to supply shortage and onset monsoon. South has witnessed a mixed trend with Hyderabad and Bangalore seeing a correction of Rs 5 per bag, and [...] Continue Reading »
Indian realty market witnessed nosedive in the April-June quarter of 2012. Sales volume and absorption rates were low in the residential sector. High inventory and slow execution of projects, were the major concerns. The commercial real estate market experienced low office space absorption and a slight drop in rentals in the metros. Experts feel that [...] Continue Reading »
The US Consulate in Chennai is all set to open American Business Corners in Kochi and Thiruvananthapuram to provide further stimulus to the US-Kerala bilateral business relations. The American Business Corners- or ABCs- will be opened in the two cities in September to coincide with the Emerging Kerala Summit. The US consulate will participate in [...] Continue Reading »
The Chennai Corporation has made arrangements for property tax payments at counters of any of the 146 branches of three designated banks from today onwards. It was planned earlier but delayed due to technical glitches. However, the facility will be started with three banks: Indian Overseas Bank (74 branches), City Union Bank (31 branches) and [...] Continue Reading »
Assocham study reveals that the real estate industry is attracting substantial investments in seven of the 20 top well-performing states even as the property market is facing slowdown. Almost 50 percent of Haryana’s investment is being done in realty sector since December 2011. The services sector accounted for about 34 per cent of its total [...] Continue Reading »
Realty giant DLF is all set to sell at least two out of the three non-core businesses as it plans to cut its Rs 23,000 crore debt to about Rs 17,000 crore in the current fiscal. DLF Group Executive Director Rajeev Talwar revealed that the group is all set to sell its luxury hospitality chain [...] Continue Reading »
Empee Group, which is currently into the businesses of hospitality, liquor, sugar and power, is preparing to venture into the real estate sector. Initially, the focus would be on residential projects. The company would start two projects on a land bank of around 20 acre. It is planning to set up two residential projects with [...] Continue Reading »
In a recent report, Jones Lang LaSalle India (JLL) suggested that as compared to some major cities like Mumbai, NCR, Bangalore, Pune and Chennai, cities like Ahmedabad and Kolkata have an advantage due to high proximity of affordable housing projects to city center. At 15-20 km Ahmedabad and Kolkata offer the closest proximity to central [...] Continue Reading »
Germany-based global hospitality major Worldhotels is planning to expand its business in India. The company had announced its tie-up with Hyderabad-based Golkonda Hotels by planning to run 20 properties by the end of next year. Currently the firm runs 12 properties including Asiana Hotel in Chennai, The Claridges in Delhi, Pride Park Premier in Gurgaon, [...] Continue Reading »
