Uncategorized
Builders are tapping domestic PEs and NBFC to raise cash as banks turn wary of financing construction projects. Under a receivable financing deal, which is generally for 12-18 months, money generated through installments paid by home buyers is put in an escrow account by the builder and used only for repayment to the lender and [...] Continue Reading »
Gone are the days when owning a house in the hills was mostly looked from an investment point of view; today a large majority of home buyers are ready to move into the hills and are looking at these destinations for residing purpose in the near future. Hill stations in India are increasingly becoming attractive [...] Continue Reading »
India’s largest real estate company, DLF steps up the disposal of non-core assets to pay down debt of almost $5 billion. It will sell its shareholding in two IT SEZs in Pune and Noida, for a combined value of Rs1300 crore. The transactions have not yet closed. Two partners, Ackruti City and The 3C Company, [...] Continue Reading »
Floor Space Index (FSI) is the ratio of buildable area to the total area of the plot. In a bid to keep prices in check, the Mumbai state government to hike the base floor space index (FSI) in the suburbs. At present, an FSI of 1 is permitted on suburban plots. Besides this, developers are [...] Continue Reading »
The Uttar Pradesh Housing and Development Board (UPHDB) has issued notice to the co-operative housing societies in Noida and Greater Noida that lack proper documents. The UP housing board has set the deadline of July 23 as the last date for these societies to submit documentary proofs that would establish that they exist and are [...] Continue Reading »
According to a research report by Crisil Research, large builders like DLF, Unitech, Parsvnath, Omaxe, Ansals and Emaar MGF have already diversified into smaller cities of the country. The cities like Bhopal, Bhubaneswar, Coimbatore, Indore, Jaipur, Lucknow, Nagpur, Surat, Vadodara and Visakhapatnam are expected to add 354 million sq ft of residential development in the [...] Continue Reading »
Mahindra Partners, a private equity arm of the Mahindra group, has conceptualized a $293.7 or Rs 13,217 house (not including land cost) that could be explored for global commercial application. A team from Mahindra Partners had submitted an entry and has now been invited to the US for a prototype workshop. With Nano home in [...] Continue Reading »
According to RBI data, the growth in outstanding credit of banks, under priority sector housing loans, halved to 6.80 per cent in April, against 11.90 per cent in the year-ago period. SBI, the country’s largest public sector bank, expects a moderation in the growth in home loans. Close to 30 per cent of the home [...] Continue Reading »
The Reserve Bank of India (RBI) decision to raise key policy rates by 25 basis points can dent sales of homes in the country. Over the last six months, builders have been witnessing a decline in registrations for homes and the latest round of hike is seen adding to their worries. Over the last 15 [...] Continue Reading »
Land worth 40 crore at Vilasiya village were sold on fake power of attorney. Ashok Patel, resident of Usmanpura, had bought 67 bigha land at Vilasiya village from Zahir Fazal Siddiqui, a resident of Mumbai, in February 2011. When Patel went for registration of the land, he realized that he was cheated. Patel on Sunday [...] Continue Reading »
