Realty News
A net profit of Rs. 370 crore for the quarter ended March 31, up 17.03% y-o-y, was posted by LIC housing on Monday. Compared to Rs.1,023.21 crore last year, net profit for FY14 stood at R1,317.19 crore, an increase of 29%. Net interest margins (NIM) for the entire year were at 2.25%, an increase of [...] Continue Reading »
Hotel Leela venture is in talks with sovereign wealth funds of Abu Dhabi, Qatar and Malaysia to sell off its two main properties situated in Delhi and Chennai for around Rs 1,850 crore. The two properties will be hive off into separate entities by the firm which owns, operates and manages hotels, palaces and resorts. [...] Continue Reading »
Two most important tunnel projects to cut the distance between twin capital cities of Jammu and Srinagar on Jammu-Srinagar National Highway would be completed in 2016. On Banihal-Qazigund tunnel and Chenani-Nashri tunnel projects work are in progress. By June 2016 and May 2016 respectively, these projects are likely to be completed. National Highway Authority of [...] Continue Reading »
In Jaipur, Jagatpura is an upcoming real estate activity hub. Its proximity to the airport and its accessibility is the primary attractive asset. Its connectivity with the commercial and residential hubs of the main city also works in its favour. With a host of hotel projects and residential projects under development, Jagatpura has been witnessing [...] Continue Reading »
An objection is filed against Lafarge Suma Cement’s ,land acquisition and limestone quarrying operation close to villages of Shella and Tynger in Meghalaya is been assessed by the compliance advisor/ombudsman (CAO). According to an independent recourse mechanism for projects supported by the World Bank Group i.e. CAO, last year in January, a complaint was filed [...] Continue Reading »
The BJP manifesto made at least three promises of direct interest to real estate developers. The party promises to put up 100 new cities, develop a national land use policy and nationally roll out a low-cost housing plan. For investors in property and for the sector as a whole, the promise to upgrade infrastructure and [...] Continue Reading »
Unitech, Real Estate Company, is set to deliver at least six million sq ft of developed area this financial year by increasing its construction spending, a jump from its rate of four million sq ft annually in the past few years. Prior to 2009, when the economy started slowing, the company had nine million sq [...] Continue Reading »
In as many as 23 states, MoFPI has approved a total of 40 mega food park projects in various stages of implementation. Under the Mega Food Park scheme of the Union ministry of Food Processing Industries (MoFPI), a state PSU, The Odisha Agro Industries Corporation Limited (OAIC) is eager to set up a mega food [...] Continue Reading »
Santacruz-Chembur Link Road (SCLR), India’s first double-decker flyover, undertaken under the Mumbai Urban Transport Project (MUTP) of MMRDA, will give much-needed east-west connectivity in Mumbai. The 6.45 km six-lane road was thrown open to commuters last week, opening from Vakola Junction on Western Express Highway (WEH) and extending up to Amar Mahal Junction near the [...] Continue Reading »
The residential segment of the real estate market, defies the price determining demand-supply mechanism. The Fitch group’s research arm, India Ratings and Research Pvt. Ltd. recently came up with a report titled “2014 Outlook: Real Estate Sector”. It has been said in the report that the prices of residential units have risen continuously since financial [...] Continue Reading »
