By: riathareja

riathareja — Tue, 13 May 2008 11:11:12 +0000

The turmoil in the global financial markets has cast its shadow on India’s largest real estate deal. India’s real estate developers, especially the mid-sized ones, have been facing a liquidity crunch since last year. Developers can no longer tap the external commercial borrowing route, while domestic borrowing costs have gone up on account of tight-fisted monetary policy, which is likely to harden further in days to come. In addition, the stock market has taken a beating with real estate stocks falling off their recent highs. Other sources of funding for instance, the London Stock Exchange’s Alternate Investment Market or listing real estate investment trusts abroad are also not feasible in current market conditions.
The tender that BPTP won, beating bigger players like DLF and Omaxe, has an allowed the company to seek an extension to pay the first tranche.Failure to make the payment within the extended deadline would result in the award being scrapped and a fresh tender being announced.What impact will it have on the Indian economy in general and Indian real estate sector in particular???For more view- realtydigest.blogspot.com

By: Neeraj

Neeraj — Mon, 12 May 2008 06:43:25 +0000

This was the big deal if BPTP is not able to pay that amount the goodwill be in depth level and may be the land level growth might be slow.It may be some reason due to short of money or something other reason.

Comments on: BPTP Land Deal In Trouble

By: riathareja

By: Neeraj