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Real Estate News - Page 3
64-year-old socialist era remanant Planning Commission passes away on Independence Day
The Soviet-era style planning body, however, lost its relevance after the opening of the economy in the 90s.
Govt to coax companies to return de-allocated coal blocks for auction
According to a Power Ministry official, the government will persuade the companies to return those blocks so that the government can commence the auction process. <br />
US Immigration Bill could cost Indian economy $30 bn a year, claims body
The IAAC, which advises US House of Representatives on India related issues, stated the 'US Immigration Bill S744' calls for significantly cutting down on outsourcing of work for certain visa holders
Sun Pharma unit recalls mutiple lots of antibiotic capsule from US
According to a notification by the USFDA, the recall ofthe 3,40,553 units of 500 mg and 1,13,677 units of 250 mg bottles was voluntarily initiated by the company.
Buffett's Berkshire Hathaway now has a m-cap of over $333 bn
Berkshire's share price has more than doubled since it first crossed the $100,000 barrier on 5 October, 2006.
PM Modi's big I-Day highlights: New Jan Dhan scheme, end of Plan Commission and more
The Prime Minister announced that the government would be doing away with the Planning Commission.
Without real estate reform, REITs may turn out to be like amnesty for black money
India must have real estate reforms before ushering in REITs which is nothing but a variant of mutual fund investments.
REITs guidelines: Investors with even Rs 2 lakh can earn from completed realty projects
Having cleared a long-pending industry demand for creation of Real Estate Investment Trusts (REITs), regulator Sebi today said that the new norms would help entities with at least Rs 2 lakh investment to earn from completed real estate projects.
Sebi clears final guidelines for investments into realty, infra trusts
The new norms would enable listing and trading of REITs and InvITs as any other security on the stock exchange platforms and also help create new platforms for raising of funds by real estate and infrastructure companies, respectively.<br />
HDIL sells multiplex biz for Rs 105 cr, to focus on slum rehab projects
Mumbai-based realty major Housing Development and Infra has sold its multiplex business HDIL Entertainment, which runs 33 multiplexes under the brand name Kulraj Broadway, to Carnival Films for Rs 105 crore as part of the group's strategy to exit non-core business and reduce its debt.<br />
Parsvnath Developers plans to raise Rs 1000 cr through sale of land parcels
The funds raised from divestment would be primarily used for debt reduction.<br />
HDIL flat buyers on warpath over builder's failure to deliver
Lalit Rao was just 32 and a newly wed when he decided to book a flat in Housing Development and Infrastructure Ltd's (HDIL's) affordable housing project in Kurla West in Mumbai. It was in 2009. He and 800 others are still waiting for their dream home even after completing the entire payment.<br /><br />
Buyers boycott property: Sales in Mumbai hit record 2-yr low
As many as 1.40 lakh housing units measuring 1,000 square feet remained unsold in Mumbai and the Mumbai Metropolitan Region (MMR) in the second quarter of the current fiscal.<br /><br />
Good news for home buyers this Diwali: Expect a 15% drop in prices
Some good news is finally in the offing for all potential home buyers this Diwali as this month, property prices are likely to fall by 10-15 percent in metros as developers struggle to sell high unsold inventory.<br /><br />
No money, too many launches: NCR sees maximum delay in realty
In Gurgaon, only one-third of the total committed supply for 2013 has been delivered so far. The situation has been even more alarming in other NCR regions such as Noida, where only about one-fifth of the residential supply committed for delivery in 2013 has been delivered so far.<br /><br />
SC verdict on property VAT will only increase builder-buyer litigations
The verdict means builders will be liable to pay tax, which includes only the cost of construction and excludes the land value, amount paid to sub-contractor and service charges etc, unless the building was issued an occupancy certificate before the sale agreement.<br /><br />
Luxury to drive retail growth, but poor infra may spoil party
Fast growth in India's luxuryretail space will push up the total retail market size to $650 billion by 2017, a report said but it warned lack of quality real estate may put spanners in this expansion.
Luxury realty still hitting records, sea-facing duplex sold for Rs 57 cr
Even if Mumbai's cash-strapped builders are in doldrums due to falling sales, rising inventory and piling debt, luxury real estate continues to create new records in the island city.<br /><br />
Realty Bill: Govt should open up new funding avenues for developers
In order to balance out the rising cost of financing due to approval delays and also due to proposed condition that money accrued money from a project should be utilised only for that project, the central authorities can open up new avenues of funding for developers
Forget new launches, even existing flats will take more than 2 yrs to sell
With rising interest rates, slowing sales, a crippling liquidity crunch and exit of black money from the real estate prior to elections, India's top developers are in for a tough ride as they might be forced to generate liquidity, especially in Delhi-NCR and the Mumbai Metropolitan Region (MMR).<br /><br />
Loan costs pinch, force salaried class to resell properties
People who had invested in properties some 10-15 years ago are now finding it difficult to service their home loans which have become too expensive now due to the rising interest rates and falling rental yields.
RBI rate hike will hurt growth sentiment further, say realty developers
Expressing disappointment over RBI's decision to hike the key policy rate, real estate developers said this would lead to increase in finance cost and also affect housing demand during the festive season.
This property correction is for super-rich, not common man
A major part of this unsold inventory lies in the Island City, which was never affordable to small individual buyers. On the other hand, in the comparatively more affordable suburban locations, vacancy is relatively lower and prices have not corrected as expected
Over 15 lakh houses for urban poor to be built: PM
Noting that rapid urbanisation has led to the problem of growing slums in cities, Prime Minister Manmohan Singh today said the Centre plans to construct over 15 lakh houses for the urban poor.
South Delhi, Mumbai high-end property is headed south
Chances of a revival in their financial health during the current year seem bleak as banks, one of the largest lenders to the real estate sector, are shying away from lending as they are troubled in their own backyard with increased non-performing assets, tightened monetary policy, currency depreciation and volatile debt markets.<br /><br />
Luxury realty a buyer's market as distress sales take centre stage
Distress sale is crippling the luxury real estate in South Bombay and South Delhi as a slowing economy has pushed out not only end-users but also investors from such markets.<br /><br />
With no regulator, home buyers should 'Thank God for RBI'
Until the time the Real Estate Bill is passed, every step the RBI takes on banks' real estate exposure will effectively be a regulation of the sector. And for every such move, home buyers will say "Thank God, RBI exists".
RBI bursts realty bubble, curbs builders' 80:20 scheme
The RBI yesterday came out with a notification curbing the 80:20 payment schemes floated by financially starved builders, the sharpest nail yet to prick the inflated real estate sector in the country.
RBI issues directive to banks: Link home loans to construction status
The Reserve Bank today asked banks to link the disbursal of home loans to stages of construction to protect the interests of buyers and contain the fallout of "innovative" housing financing schemes.
Property bubble bursts as prices crash 20% in investor-driven markets
Real estate prices in investor-driven markets such as UP's Noida, Navi Mumbai, Ludhiana, Chandigarh and Gurgaon's Dwarka Manesar Expressway have seen more than 10 percent price correction due to all-around liquidity squeeze, dearth of buyers and erosion of investor faith in the property market.<br /><br />