Unitech
Close on the heels of real estate firm Unitech recently reported consolidated loss of Rs 51.55 crore for the January-March quarter, the shares of the company plunged by over 3 percent on Thursday. As an apparent result of the consolidated loss posted by Unitech, the company’s scrip closed at Rs 27 on Thursday, underscoring a [...] Continue Reading »
On Wednesday, shares of real estate firms fell by up to 9 percent; thanks to selling pressure. While the benchmark index – the S&P BSE Sensex – witnessed a 0.22 percent plunge, some sectoral indices cracked almost 5.3 percent. The top loser among the sectoral indices was the S&P BSE Realty index. Prior to the [...] Continue Reading »
Around 50 home buyers, comprising businessmen, IT professionals and MNC employees, protested against Unitech in Gurgaon South City Area. The company failed to keep its promise to hand over flats within the time frame. The protestors had booked flat in Sunbreeze Apartment Project at Sector 69.The project was to be completed in 2012. Of the [...] Continue Reading »
In the past three years, real estate has been one of the worst hit industries. It has suffered due to various reasons — land prices have stagnated, housing demand has stagnated, commercial demand has shrunk, interest rates have gone up. Access to capital for real estate firms has been restricted by RBI and other factor [...] Continue Reading »
Unitech, Real Estate Company, is set to deliver at least six million sq ft of developed area this financial year by increasing its construction spending, a jump from its rate of four million sq ft annually in the past few years. Prior to 2009, when the economy started slowing, the company had nine million sq [...] Continue Reading »
While the benchmark Sensex — which has hit several all-time highs — has risen just 3.6 per cent, in the past month, the BSE realty index rose around 12 per cent. In the last one month, the realty stocks have been rising on the hope of revival of the economy. HDIL rose around 53 per [...] Continue Reading »
IL&FS Engineering and Construction Company Limited have received a Letter of Intent (LoI) from Ireo Private Limited for construction of its luxury residential project ‘Gurgaon Hills’ located at Sec-02, Gurgaon, Haryana. The Rs 175.80-crore contract is to be completed in 39 months. The ‘Gurgoan Hills’ luxury residential project has Six Towers (20 to 26 Storey) [...] Continue Reading »
Reality major Unitech has signed a deal with Aricent and Fidelity to lease about one million square feet in Gurgaon Infospace Tikri special economic zone (SEZ). The deal is estimated to be worth between Rs. 1,000 crore and Rs. 1,100 crore. Three million sq ft of the total 3.3 million available space at the building [...] Continue Reading »
Being developed in association by mortgage regulator National Housing Bank and Indian Banks’ Association Greenfield housing projects will soon come under a new rating system. The whole idea of rating intended to encourage lenders to give loans at discounted rates to individuals buying units in projects rated highly by NHB-IBA. It will in turn encourage [...] Continue Reading »
As part of its strategy to repay debt, realty major Unitech has recently sold around 10 acres of land in Bangalore and Mysore for about Rs 100-130 crore. Unitech currently has debt of about Rs 6,200 crore, including Rs 150-200 crore from Life Insurance Corporation of India (LIC). It has been reported that the LIC [...] Continue Reading »
