Jones Lang LaSalle India
A New York-based not-for-profit venture fund, Acumen Fund plans to make its first investment in the low-income housing space in India. Karuna Jain, a senior portfolio associate of Acumen Fund informed that the fund plans to invest up to $8 million (nearly Rs.50 crore) in India in 2014, of which around $2 million will be [...] Continue Reading »
The Union Cabinet’s nod to the Real Estate Regulatory Bill has made buyers feel happy and secure; on the flipside, some of its provisions have left the developers panicking. Views of MHUPA Ajay Maken, minister of housing & urban poverty alleviation, said that the bill provides for a uniform regulatory environment to protect consumer interests [...] Continue Reading »
Despite the real estate market in small cities and towns witnessing a revival, developers are concerned as these areas had faced the maximum heat of economic slowdown. Astrum Homes was planning to develop mid-income housing projects in smaller cities in 2013. Now the company has extended its launches by 2015. The company was set up [...] Continue Reading »
With release of Union Budget 2013, the Finance Minister announced the introduction of one percent Tax Deducted at Source (TDS) on immovable property transfer exceeding Rs 50 lakhs. Agricultural land is exempted from this. This means that if a person has a property (house or plot) which is sold for more than Rs 50 lakhs [...] Continue Reading »
Pune- Residential real estate sector of Pune is likely to witness stronger demand in 2013 owing to increasing interests among IT/ITeS and manufacturing sector employees, NRIs and Mumbai-based investors, according to global property consultant firm. The average value appreciation of residential projects in Pune is expected to be higher in the coming year. In the [...] Continue Reading »
Bangalore- Whitefield and outer ring road, particularly the stretch of K R Puram-Marathahalli- Sarjapur Road, are emerging as the top commercial real estate destinations of the city, reports Jones Lang LaSalle India. The Central Business District (CBD), Koramangala and Bannerghatta Road mostly remained stable throughout 2012. Owing to fast developing IT corridors of Bangalore, adequate [...] Continue Reading »
The real estate market in India is expected to pick up in the second half of 2013 as the country’s economic front witnessed some improvement. The developers are planning to give some pre-launch benefits to attract home buyers and at the same time, they are also planning to cut short on amenities and facilities of [...] Continue Reading »
Bangalore- Varthur located in East Bangalore, is becoming a hot residential real estate destination for buyers owing to its proximity to major IT hubs of the city. Proximity to ITPL, Whitefield, Outer Ring Road (ORR), Sarjapur Road and being in the vicinity of several IT companies have opened the area to residential development. The area [...] Continue Reading »
While the government of India forcing leading real estate developers to cater to the needs of buyers of economically weaker section (EWS) through developing affordable housing projects, the developers are concerned about the loss of incentives for being in the business of building affordable houses. Developers claim that there is no difference in the amount [...] Continue Reading »
Confederation of Real Estate Developers’ Association of India (CREDAI) has asked its members to clear the inventory of unsold housing stock by reducing the prices. The Finance Minister P Chidambaram has given few suggestions in order to clear the unsold stock which was accepted by the developers too. The members across the country have been [...] Continue Reading »
