Realty News
Recently, Japan has revealed that it is looking forward to play a major role in developing India’s infrastructure mainly focusing on the construction sector. Currently, there are about 900 companies who have invested in India specifically in the manufacturing sector. There are only a few companies who have invested in infrastructure space. It is seen [...] Continue Reading »
In a recent announcement by the real estate firm Supertech, it was stated that they have merged with the hospitality chain The Leela Palace, Hotel and Resorts for the management of its luxury hotel in Noida which has been planned to develop with an investment of Rs 450 crore. The hotel containing 250 rooms is [...] Continue Reading »
Developers in Dubai are planning to come up with a replica of Taj Mahal worth one billion USD. The replica will be named as Taj Arabia and will be four times bigger than the original monument with one million sq ft of retail space including a 300 room hotel. Link Global, the firm behind the [...] Continue Reading »
IDBI Bank has decided to reduce home loan interest rates for loans above Rs 30 lakh by 25 base points. A 10.50% base rate will be applicable on loans up to Rs 75 lakh, while loans above Rs 75 lakh, the pricing would be 25 bps plus the base rate. The home loan interest saver products [...] Continue Reading »
Due to the slowing economy, banks want to cut the risk weights on home loans to revive the housing sector. Indian Banks’ Association committee on housing described that if the risk weights are lowered, there will be more funds for the banks to lend. This move enable banks to give loans up to 85 per [...] Continue Reading »
Sources reveal that Maharashtra chief minister Prithviraj Chavan is not in favour of extending the deadline for paying value added tax (VAT) or reducing the tax rate on flat purchases. As the order of paying VAT has been handled by the high court, the chief minister does not want to extend the deadline or reduce [...] Continue Reading »
Within the next two years, Indian Railways is planning to lease land parcels, which is 1,500 hectare (3,700) to earn more than Rs 5,500 crore, according to an official. Around 52 cities where there are surplus land parcels that can be leased out, said an authority. The commercial development of surplus land is undertaken by [...] Continue Reading »
Portman Holdings is planning to raise third party funds to invest in Indian real estate. The fund worth is estimated at $300 million. The company will raise these funds in overseas markets in the first half of 2013. It then plans to deploy the entire corpus in the next 30 months once the fund raising [...] Continue Reading »
Many developers are rolling out special offers ahead of Diwali at the Maharashtra Chamber of Housing Industry’s (MCHI) on-going property exhibition at Mumbai Metropolitan Region Development Authority (MMRDA) grounds. Free parking space, club membership offers, removing stamp duty-registration and maintenance charges are some of the primary offers, while the most lucrative offer continues to be a [...] Continue Reading »
Lodha Developers have completed the acquisition of 17-acre land in Mumbai from realty major DLF for Rs 2,725 crores. In August, DLF had announced sale of the land parcel to Lodha Developers for about Rs 2,700 crore and it has been termed the largest realty deal so far this year. DLF had bought the land [...] Continue Reading »
