Real estate in India
Jones Lang LaSalle has released its half yearly review of Indian office real estate. The findings of the first half of 2012(1H12) data reveals quiet activity during the period compared to 1H11. In 1H12, the top seven cities of India together recorded a 35 per cent dip in office absorption compared to 1H11. The shrinkage [...] Continue Reading »
A recent survey was carried out by real estate research firm Jones Lang LaSalle (JLL) on affordable housing in seven cities – Mumbai, New Delhi, Kolkata, Chennai, Pune, Ahmedabad and Bangalore. The survey shows that Mumbai tops six other cities in the country for the number of upcoming affordable housing projects. Around 15 projects are [...] Continue Reading »
Real estate firm Kumar Urban Development announced that it will invest Rs 250 core to construct shopping complexes in Pune. The plan involves developing 6-7 shopping complexes in Pune which would consist of 450 shops. According to the management sources, the construction would start soon and be completed in the following 18 months. The Pune-based [...] Continue Reading »
Kotak Realty Fund is withdrawing its investment from Lalith Gangadhar Constructions Private Ltd. According to sources, Kotak is selling its 49 per cent stake for Rs. 53 Cr to the promoters. Promoted by Girish Puravankara, Lalith Gangadhar Constructions is engaged in real estate development, real estate marketing, facility management and project management activities. Kotak has [...] Continue Reading »
At a time when real estate sector is riding on a low tide, developers Prestige Estates have been able to register a rise in their profit. Prestige Estates’ net profit has risen 35.4 per cent to Rs 49.3 crore in the April to June quarter. Turnover stood at Rs 246.4 crore, down by 6 per [...] Continue Reading »
The heat of mall culture across national capital region (NCR) seems to be gradually cooling off. As per Cushman & Wakefield’s (Q&W) recent report on the national retail real estate market, the region has been witnessing the highest ever deferment of new floor space additions and vacancy levels within its malls. The region has observed [...] Continue Reading »
While reports pointed out an increase in office rentals, a study by real estate consultancy Jones Lang LaSalle (JLL) shows that there has been a 35 per cent dip in office space absorption in seven major cities, as of June 30, 2012. The report states that the supply fell by 52 per cent during the [...] Continue Reading »
The realtors welcome the move by Reserve Bank of India (RBI) to cut the Statutory Liquidity Ratio (SLR) by one percentage point from 24 per cent to 23 per cent. The real estate sector, which is struggling due to the combined effects of diving demand, huge debt and piling inventory, is hopeful of positive effect [...] Continue Reading »
The Center has finalized a central law to regulate India’s growing real estate sector and prevent realtors from targeting property buyers through unfair practices. The law ministry has cleared the draft of the Real Estate (Regulation & Development) Bill, proposed by the housing and urban poverty alleviation ministry. The bill proposes the setting up of [...] Continue Reading »
Many real estate projects in Mumbai‘s western suburbs have been halted in recent times due to the sluggish demand and new Development Control Rules (DCR). Brihanmumbai Municipal Corporation (BMC) recently came up with a list of delayed projects in Mumbai and the western suburbs accounted for 202 of the 326 stalled projects in the city. [...] Continue Reading »
