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February 2009 - Posts

13 February 2009
Cement Industry Hit By Realty Slowdown
The slump in the realty sector, which accounts for about 65 per cent of the total cement consumption in India, has affected the cement sector. Since most realtors are facing a severe cash crisis, it is quite unlikely that too much real estate development Read More...
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13 February 2009
Severe Decline in Demand for Luxury Real Estate
A survey by global real estate consultancy Cushman and Wakefield (C&W) has revealed that average capital values of luxury properties in posh localities across major metros have fallen by 10%-20% during the last three months. Residential rental values Read More...
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13 February 2009
Omaxe To Come Up With 10,000 Homes In the Rs 4-10 Lakh Range
Realty firm, Omaxe has announced its plans to launch 10,000 low-cost homes in Indore next month, which would be developed at about Rs 1,000 crore (Rs 10 billion). It will launch these budget-flats in the range of Rs 4-10 lakh. "We will launch 10,000 Read More...
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13 February 2009
450 Projects Halted And 5, 000 Jobs Lost In Pune Realty Sector
Falling sales and severe cash crunch have halted the development of more than 450 real estate projects in Pune. This has resulted in loss of jobs of around 5,000 construction workers. A detailed survey undertaken by Promoters and Builders Association Read More...
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13 February 2009
New Realty Investment Plans Take A Hit, Says Assocham
According to an industry survey, fresh investment plans in the real estate segment have taken a plunge of about 82 per cent between the first and the third quarter of the current financial year showing a slowdown in demand in residential and commercial Read More...
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13 February 2009
Boards Of Maytas Infra and Maytas Properties Not To Get Dissolved
The government has announced that it will not dissolve the boards of Maytas Infra and Maytas Properties, whose acquisition deal by Satyam Computer for $1.6 billion was aborted following shareholders' dissent. The government has already ordered inspection Read More...
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13 February 2009
DLF To Make Investments Worth Rs 15, 000 Crore in Budget Housing Projects
Real estate giant DLF has announced plans to invest Rs 15,000 crore over the next three years to develop various residential projects across the country in Rs 15-40 lakh range. The company had announced its plan last year to enter into mid-income housing Read More...
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13 February 2009
MMRDA Plans Alternative Biz Hubs
As two main business districts of the city have reached a saturation point, the Mumbai Metropolitan Regional Development Authority (MMRDA) is planning to acquire 1.84 crore sq mt of land to set up alternative business hubs to build new rental housing Read More...
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13 February 2009
88,222 Forms Sold by MHADA
The first day of the housing projects introduced across Mumbai by the Maharashtra Housing and Area Development Authority (MHADA) received an overwhelming response. It reflected that slump or no slump, there is still a huge demand for houses if the price Read More...
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13 February 2009
Ex-DDA Official Arrested In Allotment Fraud
A retired officer of Delhi Development Authority has been arrested in the DDA flat allotment fraud and a property dealer is understood to have been detained for questioning. The police said, Mr. M L Gautam, who retired from DDA's telephone department Read More...
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13 February 2009
Unitech Plans To Raise $560 Million From PE Funds
Realty major, Unitech is in talks with private equity funds for investments up to $560 million (Rs 275 billion). According to sources, the company is also in negotiations with banks to restructure an additional Rs 500 crore (Rs 5 billion) of loans as Read More...
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13 February 2009
Good News For Realtors, Borrowing Costs To Eas
This New Year has brought some good news for real estate companies, many of which were believed to be on the threshold of bankruptcy due to a liquidity crunch, mounting debts and little chances of loan refinancing. The interest rates at which realtors Read More...
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05 February 2009
Akruti To Focus On Affordable Home Projects
Mumbai-based developer, Akruti City, which was mainly into development of hospitality, retail and township projects, has decided to shift its focus to affordable homes. Under the brand name, 'Just Perfect Homes', the developer will develop homes Read More...
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05 February 2009
DDA Flats, On Wait and Watch Mode
The Urban Development ministry has held the allotment of flats to its winners decided recently by a lucky draw by the Delhi Development Authority till the process gets cleared from allegations of fraud and rigging. "Unless we are fully satisfied Read More...
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05 February 2009
Mahindra Lifespace To 'Go Green'
Mahindra Lifespace Developers Ltd, the real estate arm of the Mahindra Group, is planning to make all its future residential buildings green. The company would set aside Rs. 400 crores as an investment budget for this purpose. Besides that, it has earmarked Read More...
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05 February 2009
Nine Places To Look For in 2009
Global real estate consultancy Jones Lang LaSalle Meghraj (JLLM) has marked the nine best places that are expected to fetch lucrative returns. First is Mumbai, where in certain areas growth can still be observed. These areas will sustain prices even as Read More...
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05 February 2009
Housing For All, A Dream That Might Come True Soon
Housing for all has remained an elusive goal in a country which is seeking to become a global economic power. The current economic crisis offers an opportunity to turn this dream into reality. The slump in realty, created by the global economic slump, Read More...
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05 February 2009
Dubai Developer Planning To Sell off Stake
The developer of palm-shaped islands off Dubai's coast has announced that the company is considering selling shares to the public. The state owned company talked about the same in a report in London's Sunday Telegraph newspaper that it is talks Read More...
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05 February 2009
Realtors Unable To Achieve Retail Space Target
As per a study, DLF, Parsvnath and other property firms have lagged behind by 54 per cent in their target to open retail space even as retailers' vacancy climbed to 16 per cent in 2008. Fund-starved realtors failed to deliver 11 million sq ft of retail Read More...
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05 February 2009
Buyers Are Back In The Market, Realtors Assert
After the Reserve Bank of India reduced its key benchmark rate and cut the cash-reserve ratio requirement, property developers are expecting an increase in sales of homes. They are optimistic about attracting more overseas investment in projects as demand Read More...
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05 February 2009
Small Realty Companies To Rework Their Pact With Landowners
With land prices going down, many medium-sized developers are trying to renegotiate the joint development agreements (JDAs), they had signed with landowners earlier. When the real estate market was at its peak, several medium-sized developers found it Read More...
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05 February 2009
DLF, SRK Plan To Invest Rs. 90 Billion In Kerala
SRK Group has planned to invest Rs 50 billion in Kerala in the next five years for building apartments and villas in around 16 projects in places like Kochi, Thirssur and Thiruvananthapuram. Currently, the group has 20 projects in the pipeline, including Read More...
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05 February 2009
Overseas Investments to Boost Realty Sector
According to the second economic stimulus package announced by the government, the real estate sector would now be allowed to tap the external commercial borrowing route to raise money, subject to the Reserve Bank of India approval, provided the money Read More...
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05 February 2009
Sluggish Realty Market To Jumpstart Again
Measures announced by the Central government to stimulate the economy by ensuring cheaper loans for homes and industry has raised hopes for people in the real estate and banking sectors. Banks like IDBI Home Finance, ICICI and SBI are anticipating that Read More...
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