October 8, 2009 – 12:18 pm
Real estate could be the lynchpin for the equity markets and a failure of a large IPO could start a correction in the market.
Mr Deepak Parekh, Chairman-HDFC Bank, said, “If a large real estate IPO fails, it could have a serious repercussion on the market”.
Mr Parekh stated that many of the recent IPOs have been [...]
October 7, 2009 – 6:22 pm
Indiabulls Power is likely to fix a price band of Rs 42-45 per share for its proposed IPO, which is expected to start on 12th of October.
The price band of the Indiabulls Power IPO is likely to be Rs 42-45. Calculated on the upper end on the price band, the company would collect around [...]
October 7, 2009 – 6:21 pm
The RBI is planning to hike interest rates marginally in the fourth quarter of this fiscal to give a signal to the market.
“To give a signal that the government is concerned about inflationary pressures, there is a chance of a marginal hike in interest rates in the January-March 2010 quarter,” HDFC Chairman Deepak Parekh said [...]
October 7, 2009 – 1:34 pm
Tata BlueScope Building Solutions, a division of Tata BlueScope Steel Ltd, has tied-up with Arshiya International Ltd to provide Butler Building Systems for Arshiya’s upcoming warehousing projects in India. TBBS has started work, and is currently executing six Butler Buildings at Panvel. Arshiya plans to erect 19 warehouses and chillers units at Panvel and, subsequently, [...]
October 5, 2009 – 5:40 pm
Property cards are the new concept to regulate realty sector in Karnataka. When the Karnataka Land Grabbers Act comes into force, it’ll bring in clearness by cleaning up land records. These had always been messed with, resulting in dubious property transactions and disputes. These cards, to be issued to property owners, will serve as [...]
October 3, 2009 – 5:30 pm
The Indian hotel industry will almost double the number of rooms from the current levels in 3-4 years by adding an estimated fifty-five thousand rooms, as per a study by consulting firm HVS India. The development of new rooms is going to be led by regional real estate players and hospitality firms as most large [...]
October 3, 2009 – 5:30 pm
Financial Intelligence Unit wants to cross check every real estate deal. It has asked the states to submit monthly data on registration of properties. FIU is a central agency responsible for receiving, processing and analyzing information relating to suspect financial transactions.
Often the real estate deals in the country involve unaccounted cash transactions. This [...]
October 1, 2009 – 1:43 pm
Hindustan Construction Company announced a tie-up for its nuclear business with Britain-based firm AMEC.
The two companies would provide consulting and EPC services for the establishment of nuclear power plants in India.
The tie-up will also enable HCC to execute services in the field of mechanical and electrical components of nuclear power plants by sourcing the latest [...]
September 29, 2009 – 1:12 pm
Sri Lanka is taking small steps to revitalize its shabby forty billion dollar economy. Delegates from the Sri Lanka board of investment met officers from real estate giants for investments and have liberal rules governing businesses.
It aims to spend twenty million dollar in encouraging the nation for global tourists.
Ravi Puravankara, MD-Puravankara group, said, “With the [...]
September 28, 2009 – 4:34 pm
The real estate market is slowly picking up in Ajmer. Investors as well as end users have started exploring options. Being a prominent centre of religious tourism, there is no dearth of investors from abroad.
Property consultants have started getting queries from NRIs visiting ajmer. Blue Earth Consultant MD Surendra Rajpurohit said, “Most of [...]
September 28, 2009 – 2:02 pm
The Reserve Bank of India may step up its efforts to pre-empt another bubble in the local property market by increasing the cost of funds for the commercial real estate sector by up to 200 basis points.
According to an RBI official, “We are looking at a hike in the risk weight to the commercial real [...]
September 26, 2009 – 3:13 pm
The award instituted by the Kerala State Nirmithi Kendra for designing a house costing under one lakh rupees has gone to Mr Jonu John Thomas, an architecture student at the National Institute of Technology, Calicut. About 20 designs had come up for consideration at the competition that required participants to prepare innovative blueprints keeping [...]
September 24, 2009 – 5:28 pm
Parsvnath Developers Limited is looking toward tier-II cities and following the strategy, PDL announced Parsvnath City at Saharanpur. It will offer plotted development, independent Floors and expandable villas at affordable prices. Spread over more than hundred acres, Parsvnath City, Saharanpur is strategically located on Delhi road. First of its kind project will offer independent floors [...]
September 23, 2009 – 3:20 pm
Bringing character to a home is the latest mantra, at least in the luxury format.
Designer Mr Sabyasachi Mukherjee will work on six of the two hundred limited edition homes Samira Habitats is developing at Alibagh. These would cost upwards of one crore rupees each.
The designer will work closely with the project architect to ensure structural [...]
September 22, 2009 – 3:50 pm
Photo by paul goyetteProperty firms are launching housing projects and raising pitch for ongoing ones in the hope of making decent sales going into the festive season. The mood among builders may be buoyant, but very few believe price hike is possible as demand is still hesitant and new supplies are hitting the market.
The festive [...]
September 21, 2009 – 4:47 pm
Dax Properties is setting up a 18-hole golf course-centric luxury retreat and township at Shadnagar near here which will entail investment of five hundred crore rupees.
The golf course will be spread over 130 acres on a 300-acre site earmarked for the Golf Retreat project, according to Mr Masood, MD of the Bangalore-based Dax Properties, part [...]
September 21, 2009 – 4:46 pm
It is the best time to look around for a value buy in real estate. With lower price points in locations which were not within your wallet’s reach, buyers are scouting for good ‘value’ bargains at this time.
And with developers going big on affordable home launches, the timing may just be one of the best [...]
September 21, 2009 – 3:12 pm
Best Western India, the Indian affiliate of the international Best Western brand, opened its 13th operational property.
Branded as ‘Best Western Classic Avenue’, the 60-room, four-star luxury property is the second in Kerala after Kochi.
Best Western, among the world’s largest chain providing marketing, reservations and operational support to over four thousand independently owned and operated member-hotels [...]
September 19, 2009 – 12:58 pm
Home buyers will now know if the land on which their building stands is free of outside claims after a recent RBI circular mandating builders mortgaging the land to raise money to disclose it in all advertisements and brochures.
RBI has asked lenders to ensure that all publicity material relating to the sale of real [...]
September 19, 2009 – 12:04 pm
The Naveen Patnaik Government’s failure to help companies take possession of land has delayed implementation of 14 mega industrial projects.
Top representatives from Posco-India, Tata Steel, ArcelorMittal India Ltd, Jindal Steel & Power Ltd, SSL Energy Ltd, Uttam Galva Steels Ltd, Essar Steel Orissa Ltd, Bhusan Power & Steel Ltd, Aditya Aluminium Ltd, Welspun Power & [...]
September 18, 2009 – 1:15 pm
The Chennai-based El Forge Ltd is selling its land at Thuraipakkam for ten crore rupees as part of its restructuring plan. The company, which made a loss of Rs 18 crore last year on a turnover of Rs 87 crore, will make a substantial profit on the transaction.
Company officials do not want to disclose [...]
September 18, 2009 – 11:50 am
Building infrastructure requires huge investments and one of the effective ways of addressing this insurmountable obstacle is to unlock urban land values for infrastructure finance.
This is what experts contended at a day-long deliberation, jointly organized by the Ministry of Urban Development, Infrastructure Development Finance Corporation, India Urban Space Foundation and National Institute of Urban Affairs [...]
September 17, 2009 – 1:59 pm
Indiareit Fund Advisors is setting up its second real estate fund with a corpus of five hundred crore rupees and expects to raise the money from investors by the end of this year.
The group had earlier floated Indiareit Fund, a $450-million real estate fund in 2006 and the proposed new Rs 500-core fund is [...]
September 12, 2009 – 3:45 pm
The government is preparing guidelines for the participation of PE funds in housing sector under the Rajiv Gandhi Awaas Yojana. The scheme aims to make a slum-free India in five years with construction of over 10 lakh houses.
The government wants to connect with private funds to provide affordable housing to millions of households under the [...]
September 11, 2009 – 4:13 pm
Real estate firm Oberoi Constructions plans to launch its IPO early next year.
The IPO may happen in the first quarter of next financial year.
The Mumbai-based developer has “delivered” four million square feet of property and plans to add another four million square feet in the near future.
The share offering would be utilized to “fund growth” [...]
