April-June quarter
Real estate major Unitech Ltd registered decrease in sales by 31 per cent in Q1 as compared to the year-ago period. While the company sold properties worth Rs 701 crore during the first quarter of this fiscal, they had registered a sales booking of Rs 1,020 crore during April-June quarter of last fiscal. Unitech sold [...] Continue Reading »
Residential property sales across Bangalore have dropped up to 40 per cent in April-June quarter as compared to the peak of Q4 2012. The city’s realty markets, where real estate sales are largely driven by IT clientele (60-65 per cent), have been going through a sluggish period. According to Karvy Institutional Research, a brokerage firm, [...] Continue Reading »
Economic slowdown in the country has even hit tax collection in the April-June quarter. Only 6.77 per cent growth in gross direct tax collection has been recorded in the quarter while the target for the year was 15 per cent. The gross tax collection for the quarter was over Rs 1.11 lakh crore as against [...] Continue Reading »
Recession hitting the job markets also had a bad impact on commercial spaces! Due to the current economic scenario, demand for office spaces in metro and major cities in the country has gone down drastically. In April-June quarter, the demand was 10.5 million sq ft area and in July-September quarter, it has fallen down to [...] Continue Reading »
