Real estate in India
After the demise of Shiv Sena chief Bal Thackeray, specualtions are high regarding the control of Shiv Sena over Brihanmumbai Municipal Corporation (BMC). BMC is perceived as a mini-government within Maharashtra state and it directly controls one of the World’s most costliest properties in greater Mumbai. Developers since the past few years have been relying [...] Continue Reading »
The Allahabad high court judgment imposing stay on 802 acres of land in Noida has affected real estate development. However, the court’s ruling was a major relief for farmers. The project areas like sectors 74,79,112 and 119 in Noida will face a big back drop due to the judgment. Thousands of housing units are being developed [...] Continue Reading »
The slowdown in the economy has not affected the premium real estate spaces. A Gujarat based Torrent group recently bought a residential property, close by US Embassy, 1,124 sq yards in Chanakyapuri for Rs 111 crore, at the rate of around Rs 10,00,000 per sq yard, which is the highest recorded rate in the recent [...] Continue Reading »
Sources say that a multi-crore deal between private equity firm IL&FS Investment Managers and real estate developer Logix Group has been called off. The proposed deal was estimated to be about Rs 600 crore. As per the deal, the Logix Group would have sold four office buildings in Noida to IL&FS Investment and the listed [...] Continue Reading »
Thane has developed into the fastest growing region of Greater Mumbai with prominent developers like Lodha Group, Rustomjee, Puranik Builders, Kalpataru and Hiranandani pronouncing their presence in the region. Thane residential market turnover in 2011-12 stands at around Rs 5000 crores. The premium segment has seen the highest supply in the last two years. Thane [...] Continue Reading »
Office space demand has increased in Noida recently. The demand for small space in the category of 500-2000 sq ft has witnessed the highest demand. However, the supply of these units have been limited, leading to rise in rental values in the last six months. Supply of office units is limited in sectors 18, 124, [...] Continue Reading »
The apex body for real estate developers, the Confederation of Real Estate Developers Associations of India (CREDAI) has said that in order to reduce corruption, the proposed realty regulator should try and minimise the human interface in the process of grating the clearance and registration. Once the regulatory bill comes into force, there should only [...] 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 »
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 »
After the Reserve Bank of India’s decision to hold the rates, real estate developers say that although they welcome the reduction in cash reserve ratio (CRR), they are disappointed with the fact lending rates have remained the same. In the policy announcement, RBI cut banks’ Cash Reserve Ratio (CRR) by 25 basis points (bps), while [...] Continue Reading »
