Realty News
HDFC Portfolio Management Services (PMS), a division of HDFC Asset Management, has sold its 50 per cent stake in property developer Runwal Group‘s project in Mulund suburb of Mumbai for 250 crore. HDFC PMS‘ exit from this project is one of the largest realty fund exits in terms of returns. With 250-crore exit, HDFC PMS [...] Continue Reading »
US-based American Real Estate plans to open three multi- specialty hospitals and small clinics in Maharashtra, Gujarat and Madhya Pradesh. The real estate firm is looking to set up 500 bed hospitals each in Gujarat, Maharashtra and Madhya Pradesh. The firm has already identified land near Surat in Gujarat and Indore in Madhya Pradesh for [...] Continue Reading »
National President of the Confederation of Real Estate Developers Association of India (CREDAI) – Lalit Kumar Jain has asserted that reforms are necessary to boost the struggling realty sector. He says that there is a shortage of 31 million houses in India of which 26 million are in the economically weak and low income group [...] Continue Reading »
Everstone has tied-up with Jones Lang LaSalle India for providing retail property management services to four shopping malls at Pune, Kochi, Vadodara and Ahmedabad. The agreement bears significance as this is the first time that a private equity (PE) fund has entrusted its entire shopping centre management portfolio to a real estate consulting firm in [...] Continue Reading »
As Kolkata gears up for new Metro routes, real estate is expected to spur along the new Metro links. Kolkata Metro is expanding its operations connecting the main city with suburbs and the airport. The new metro will connect the Salt Lake to Howarah in just 30 minutes and will enhance the accessibility. There are [...] Continue Reading »
Indian arm of AIG‘s global real-estate business has served a legal notice on Bangalore-based developer RMZ Corp. The notice came due to failure to let AIG exit its investment in a stalled joint venture in Hyderabad. AIG Global Real Estate India Advisors had invested Rs 350-crore in the mall project, which got delayed due to [...] Continue Reading »
North Bangalore’s luxury property market is attracting both Non-resident Indians (NRIs) and domestic buyers. Despite North Bangalore being away from central areas, the zone has witnessed number of launches in the high end category.Availability of land at cheaper rates is one of the main reasons behind luxury projects being launched in North Bangalore. The property [...] Continue Reading »
Experts say that the present slowdown in the economy can be turned to a projected growth with a revival in the real estate sector. When India’s economic growth had slowed down to 6.7 per cent in 2008-09 from 9.3 per cent in the previous year, the revival of the real estate sector with a growth in [...] Continue Reading »
Orders were given by the Mayor of Allahabad, Abhilasha Gupta to extend the date of concession in house tax till October 31. The date of filing objection to the house tax was also extended till October 15. The orders were passed after complaints made by people and corporators stating that most of them haven’t got [...] Continue Reading »
The Nagpur Municipal Corporation (NMC) general body has passed the proposal to implement the new property tax system based on the capital value of properties. The assessment value has been fixed at 0.1 per cent of the capital value. The final report will be submitted to the general body after forming an all party committee [...] Continue Reading »
