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Date: August 13, 2009 Synopsis: Affordable housing for the middle class segment, in the Rs 3-10 lakh income group, requires about two million homes by 2011, the Knight Frank study said. The requirement covers an area of 1,650 million sq ft and entails an investment of Rs 3,30,000 crore. Click here to view complete news
Date: March 16, 2009 Synopsis: A high-level task force has recommended setting up of a “real estate regulator” and a dedicated institutional framework to look into the issue of providing affordable houses to the people. The regulator could serve as a single window for overseeing and monitoring the affordable housing agenda and promote policy reforms like stamp duty and registration and protect consumer from real estate fraud, the task force, constituted by the Ministry of Housing and Urban Poverty Alleviation, said. Click here to view complete news
Date: March 3, 2009 Synopsis: The Uttarakhand government is planning to lower circle rates for properties in Dehra Dun to boost the real estate sector, which has taken a beating in the wake of global recession and severe liquidity crunch. Click here to view complete news
Date: November 5, 2008 Synopsis: The Union finance minister, Mr P. Chida-mbaram, said on Tuesday that PSU banks will be provided adequate finance to MSMEs and housing sector. He said that during his meeting with the PSU banks chiefs, the government rev-iewed credit requirement of the micro, small and me-dium enterprises (MSME) and the housing sector. Click here to view complete news
Date: November 5, 2008 Synopsis: The realty sector, reeling under the effect of financial crisis and high interest rates, is all set to get a new lease of life with the government planning to accord ‘core sector’ status to all their activities barring purchase of land. The Centre is also looking into real estate developer’s demand to formulate a policy on Special Residential Zones (SRZs) on the lines of SEZs for large-scale affordable housing projects. Click here to view complete news
Date: October 7, 2008 Synopsis: The current global financial crisis might have cast a shadow on the Indian property market, but the country's real estate sector witnessed an inflow of about $6 billion (Rs 26,900 crore) from global private equity players during the last one year. Click here to view complete news
Date: September 8, 2008 Synopsis: With the saturation of metros and major tier I cities across the country, the focus has now shifted to tier II cities, which has turned to be fruitful for realtors.Chandigarh has been overwhelmed by the response it got from the realtors who are keen to start their construction activities. Click here to view complete news
Date: September 8, 2008 Synopsis: Hindustan Construction Company (HCC), GVK Group and other construction firms may have to settle for lower returns from their projects as rising interest rates are expected to hurt profitability of roads, power, ports and airports. Click here to view complete news
Date: August 8, 2008 Synopsis: Despite the real estate market confronting with a temporary depression with real interest rates hovering between 12 per cent and 16 per cent, an industry body has projected that foreign direct investment (FDI) element in the real estate market would increase by about $21 billion to touch $25 billion in the next ten years. Click here to view complete news
Date: August 8, 2008 Synopsis: Operating margins for real estate companies have been under pressure. Realty stocks have taken a beating this year. While the BSE Sensex is down around 26 per cent, the BSE realty index has lost nearly 57 per cent. Some of the stocks have recovered from their lows, but the performance of the sector in the quarter ending June 2008 has been nothing to write home about. Click here to view complete news
Date: August 8, 2008 Synopsis: Property developers, consultants and brokers have seen a 40 per cent decline in enquiries from home buyers over the last three months. With home-buyers postponing their purchases owing to higher interest rates and increase in equated monthly installments, the slowdown in the real estate market is getting deeper. Click here to view complete news
Date: April 24, 2008 Synopsis: The high-end luxury real estate market is facing a double whammy. The demand from domestic buyers has already dried down and now even non-resident Indians (NRIs), who constituted a significant market for luxury real estate developers, are developing cold feet. Click here to view complete news
Date: March 24, 2008 Synopsis: Alongside residential and commercial complexes that are dotting the Pune landscape, the concept of service apartments is soon catching up as well. The requirement for service apartments came up because of the floating Pune population. Click here to view complete news
Date: March 13, 2008 Synopsis: The government has issued guidelines on big-ticket changes to the foreign direct investment (FDI) norms that were approved by the Union Cabinet on January 30. It, however, remained silent on clarifying a change in norms for FDI in real estate, possibly due to fear of greater capital inflows. Click here to view complete news
Date: February 07, 2008 Synopsis: Some 2,500 hotel rooms to be built on Delhi airport land by the winter of 2010 by a GMR Infrastructure Ltd-led consortium is likely to be a casualty of a deal between the Centre and the airport developer to shelve a plan to finance construction through deposits against lease rights. Click here to view complete news
Date: January 28, 2008 Synopsis: Providing a glimpse of one of its first works for the Commonwealth Games in 2010, the Delhi Development Authority on Sunday unveiled a model of the first sample flat to be built in the Commonwealth Games Village on the Yamuna riverbed. The three-bedroom sample flat with a modern compact design consists of separate balconies attached to bedrooms and a separate servant quarter along. Click here to view complete news
Date: January 24, 2008 Synopsis: Reeling under acute financial pressure, the Postal Department is exploring new areas of revenue including commercial use of huge real estate at its disposal to guard against any debt trap. Click here to view complete news
Date: January 22, 2008 Synopsis: L&T Urban Infrastructure Ltd, Dinesh Ranka Associates and Mauritius-based private equity fund Pragnya Fund 1 have come together to launch an integrated township project off Old Mahabalipuram Road (OMR), the IT corridor of Chennai, at an estimated cost of Rs 1,200 crore. Click here to view complete news
Date: December 18, 2007 Synopsis: Sri Lanka is looking for investments from Indian hotel chains for setting up budget hotels there. According to provisional estimates, during 2006, India received 1,54,813 tourists from Sri Lanka. Click here to view complete news
Date: December 05, 2007 Synopsis: India's heated property market is likely to cool in 2008, top banker KV. Kamath has said in a forecast that could give pause to domestic and foreign investors, who have poured billions of dollars (euros) into the country's real estate. Click here to view complete news
Date: November 6, 2007 Synopsis: The Department of Industrial Policy and Promotion’s proposal on FII investment in realty is all set to face opposition from the finance ministry when the Cabinet considers it for approval. DIPP in a note to the Cabinet has proposed that pre-IPO placement to FIIs should not be subject to the three-year lock-in applicable to foreign direct investment in the sector. Click here to view complete news |
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