For now, the next few quarters could be the acid test for the sector. The stock prices of many real estate companies are under duress. DLF’s offer for a share buyback comes at a time when the stock price has been adversely hit. While one could argue that the overall sentiment is on a low, the fall in these stocks has hit the investor really hard.
At such high price levels for property, the buyer is taking his time which does not augur well for the developers. It is precisely for this reason that the uncertainty has stepped in.
HDFC’s Karnad admits that there are some pockets in India where prices need to correct further. “However, today, the real estate sector is going through a stage of over-pessimism,” she argues.
The story of the aspiring Indian middle class is hard to ignore and that could be urge to own a home could still make sure there is a healthy level of demand. Overall, the impact of a global slowdown on India is slowly being felt. It may affect Indian realty sector in coming time. However, NRIs affections towards Indian properties will not likely to be vanish in near future.
Sobha Developers Ltd leading real estate company said on 02nd July it has sold forty percent stake in an forthcoming Bangalore project to Dubai’s Pan Atlantic LLC for ten million dollar.
Sobha plans to develop a 1.7-million-sq ft residential township at the plot in south Bangalore. A senior company official said the present value of the land is estimated at 1.05 billion rupees. Read More »
By manish
|
Posted in Property News
|
Also tagged High Interest Rates, India Real Estate, Indian real estate, Lehman Brothers, Mumbai Market, Parsvnath, Private Equity Deals, projects, Real Estate Fund, Real Estate Sector, Saffron, Sobha
|
DUBAI:, A leading Indian public sector bank Bank of Baroda, has signed a memorandum of understanding with Dubai-based real estate company Dubai Properties for funding buyers of the latter’s products in the United Arab Emirates (UAE).
In a statement Dubai Properties declared that the contract has been signed between Bank of Baroda chief executive for Gulf operations A. K. Gupta and Dubai Properties chief executive M. S. Binbrek.
Bank of Baroda is the lone Indian bank providing complete banking services in the UAE.
It has 6 branches, in Dubai, Deira, Sharjah, Abu Dhabi, Al Ain and Ras Al Khaimah and an electronic banking service Unit at Jebel Ali near here. In Oman, the bank has three branches and in Bahrain one.
Deepika Padukone is now a brand ambassador of a foreign real estate company. Dubai-based realty development cum brokerage firm, Aspire Real Estate, has announced Deepika Padukone to be their brand ambassador and new face of their company. Aspire is highlighting its Dh5.5 billion portfolio of real estate developments at prestigious locations within Dubai. Read More »
