Tag: Slump

DLF cuts target by a third due to property slump

DLF Ltd has cut its current fiscal deliverable targets by about 33% following the deterioration in the housing and commercial property market. The company is now expecting to deliver 15 million square feet against a guidance of 22-24 million square feet at the beginning of this fiscal. It has completed about 7 million square feet […]

Real Estate Market Has Enomous Power

Indian real estate market could reach a value of $60 billion by 2010, and become an “enormous” economic power, a Middle East developer has said. Abdullah bin Abdulaziz Al Majed, vice chairman of Tanmiyat Group, was speaking ahead of the firm’s participation at property show Cityscape India 2008. Tanmiyat is among a group of international […]

Tight credit and small bonuses hit real estate

The giant cranes that once worked long into the Mumbai night are still, the roar of concrete mixers has dulled, and hundreds of migrant Realty hit workers have gone home. A slowing economy, high interest rates, tighter credit and a falling stock market have left developers in India’s financial hub scrambling for cash and delaying […]

Realtors shift focus to budget housing

Declining sales, high interest rates, paucity of funds and global economic slowdown have badly impacted the real estate sector which is witnessing not only sudden slump in demand but also is at the receiving end in the stock market. Freebies in the shape of luxury sedans, offers of foreign trips, 15%-20% discount or deferred payments […]

Prudential, DLF get in-principle nod for fund unit

India’s most valuable real estate firm, DLF Ltd, and American life insurer Prudential Financial Inc (PFI) said they have an in-principle regulatory approval for a mutual fund venture formed in December. “We look forward to a successful launch once we receive the remaining regulatory approvals, which should take place sometime in 2009,” Rajeev Talwar, group […]

SRA scheme is in doldrum due to realty slowdown

The much-hyped slum rehabilitation authority (SRA) scheme of the Maharashtra government is in doldrums. This follows a steep slump in the real estate market. One of the biggest players in SRA schemes said, “I have decided to pull out completely. It just doesn’t make sense to get involved in these schemes anymore.” With many SRA […]

Home Rates May Drop Upto 12%

Last week, at Mumbai’s Grand Hyatt Hotel, leading city-based real estate developers were closeted in an hour-long meeting. The agenda: to discuss ways to counter the slump in home sales which has persisted for almost an year now. The outcome: The bitter realization that the Indian developer has limited options before him to attract buyers. […]

Lehman Crisis May Pull Down Property Prices

Real estate prices are expected to soften further as the current global financial turmoil would force cash-starved builders to offer hefty discounts. The collapse of financial powerhouses like Lehman Brothers and the consequent liquidity problems will stop the inflow of fresh investments into India’s real estate sector. According to analysts, the crisis, which comes at […]

Housing Demand Fall In Small Towns

Slump in the residential real estate sector in tier-1 cities seems to have spread over to tier-2 and tier-3 cities. Housing demand in small cities got down by 25% during February-July this year because of higher cost of borrowing. Besides rising cost, unavailability of inputs and power shortage also cause excessive delays in project completion. […]

Realty Prices In Mumbai Suburbs Intends To Fall

Property prices in mumbai suburbs have started cooling down and by March 2009 the fall would be anything between 10% to 20% from now, real estate consultancy firm Jones Lang LaSalle Meghraj said. “There is no sign of propoerty prices coming down in the heart of Mumbai because of almost zero supply. But, beyond Borivali […]