Pune
Sobha Developers, Bangalore-based real estate company, has given a new sales guidance for the year of $363 million (Rs 2,000 crore) for this fiscal. For the same period last year, the developer managed sales of $309 million (Rs 1,700 crore). In the second quarter of FY12, the realtor launched Sobha West Hill in Coimbatore. It [...] Continue Reading »
Eight Indian companies have made it to Fortune magazine‘s 2012 list of world’s 500 largest companies with Indian Oil and Reliance Industries finding a place in the top 100. With an annual revenue of $86,016 million, Indian Oil has cornered the 83rd spot up from 98th place last year. Mukesh Ambani-led Reliance Industries is the [...] Continue Reading »
The high power expert committee (HPEC) in its report to the union government has recommended that the property tax system in the country should be rationalized. Property tax should be retained as a general benefit tax, and its components such as water tax and sewerage tax should be replaced by appropriate ‘user charges’, recommended the committee. It also recommended [...] Continue Reading »
Foreign investors are funding Indian real estate market after the release of Press note 2 in 2005 which opened up construction and development for Foreign direct investment (FDI). Many investors who had invested at that time, largely in residential sector, are now heading towards maturity and are withdrawing their prime investments. According to a report [...] Continue Reading »
The office space absorption in Hyderabad grew 5 % while overall office space absorption across top eight cities of the country plummeted 21% to 13.4 million sft as compared to 16.9 million sft in the first half of 2011, according to a study by global real estate consultancy firm Cushman & Wakefield. This steep drop in office [...] Continue Reading »
The real estate sector has been lying low due to lesser cash inflow in both the commercial and residential segments, hoping that there will be a change in liquidity levels soon. The macro-economic factors such as high interest rates, high land costs, etc. which have a direct effect on the sector, seem not to improve [...] Continue Reading »
The Pune real estate sector is witnessing a fast track growth as it has undergone a constant transformation over the last few decades – from a simple, rural community to a military base, and on to one of the most sought-after cities for property. With the city becoming more industrialized, the market for residential, business [...] Continue Reading »
Godrej Properties Ltd (GPL) has formed a residential development platform with Rs 770 crore of equity commitment. The platform mainly aims towards the development of the middle-income residential space in Mumbai, Delhi NCR and Bangalore, apart from looking for opportunities in Chennai and Pune. GPL would contribute 29 per cent in the investment platform while [...] Continue Reading »
XRBIA Developers, the former Eiffel Developers & Realtors Ltd., has recently revealed the first-of-its-kind affordable housing brand XRBIA for pan India. Hafeez Contractor, a 61 year old renowned architect, has developed a revolutionary new design for affordable housing. An exact full size model of the actual house was shown during an occasion. XRBIA – Connoting [...] Continue Reading »
Real estate market experts feel that property prices may come down, but however, it depends on the holding power of the builders. The real estate sales volume has dropped down in six of the major cities in India. Mumbai Metropolitan Region (MMR) witnessed 50 per cent drop, Gurgaon 45 per cent, Hyderabad 34 per cent, [...] Continue Reading »
