Mumbai
ASK Property Investment Advisors, the real estate private equity (PE) arm of diversified financial services company ASK Group, has invested Rs 100 crore in a Mumbai-based residential project in Mulund, being developed by Rajesh Builders. Raj Altezza Project will be completed in two phases and will occupy 400 units in total. The cost of the [...] Continue Reading »
The dipping rupee value in the past few months has brought a lot of cheer to Non Resident Indians. The Indian real estate market has now turned sluggish and the depreciating rupee adds more power to NRIs dollars and leads them to acquire properties at cheaper rate. Anuj Puri, chairman & country head, Jones Lang [...] Continue Reading »
Wealthy investors are buying key commercial lands and renting it out to earn a fixed rate of interest. There is constant demand for such prime business spaces and builders get high income by renting them out. Wealth managers are of the opinion that rich investors are booking important business spaces or buying out pre-leased commercial [...] Continue Reading »
Though the present real estate market of India is witnessing a downtrend, it has not stopped the listed companies from shelling out attractive dividends for the fiscal year 2012. According to an analysis, 26 listed companies – most having a 50% or more promoter holding – recommended an aggregate dividend of Rs 722 crore during [...] Continue Reading »
An empty four-storey building collapsed following a heavy rainfall in Mumbai. The building Gopal Bhavan, is situated in Mamlatdar Wadi in suburban Malad. Luckily, there were none living in the apartment as the residents had already been evacuated following the declaration of the structure as ‘dangerous‘ by Brihanmumbai Municipal Corporation (BMC). Sources say that five [...] Continue Reading »
Eastern Financiers is buoyant on LIC Housing Finance. It recommends buying rating on the stock with a target of Rs 329 in its July 2, 2012 research report. LIC Housing Finance (LICHF), promoted by LIC of India, is one of the largest players in the nation’s housing loan segment.In addition of having a widespread network [...] Continue Reading »
The state government of Maharashtra has rejected Mhada’s proposal of allowing flat owners to lease out their houses within the five-years lock-in period. The state expressed its opinion that by allowing this move, people looking at low-cost houses as an investment opportunity will be encouraged. Meanwhile, it will be unfair to those who are homeless. [...] Continue Reading »
The former Chief Minister of Maharashtra, Ashok Chavan, on Saturday passed the blame to Union Science and Technology Minister, Vilasrao Deshmukh, for granting permission to the Adarsh housing society. Mr. Chavan said that Mr. Deshmukh, the then Chief Minister, had allotted the government land, regardless of the land valuation. He also blamed Finance Department suspecting [...] Continue Reading »
The Indian developers mainly target luxury, high-end and upper-mid housing segment. Meanwhile the housing requirements of the lower middle-income and lower income groups that are grossly neglected in India. There is an ever-growing housing shortage since the cities fall short of planned housing for low-income group. According to the report by real estate services firm [...] Continue Reading »
Mumbai land prices have grown higher and higher along with the time. Underhand and shady land dealings are a part of Mumbai real estate industry. A Madhya Pradesh government-owned company had sold a prime eight-acre plot for Rs 1.75 crore to a little-known builder a decade ago. The same land, when it was resold to [...] Continue Reading »
