In a notice to the stock exchanges a few days ago, DLF declared that it was going to consider international acquisitions and investments in development projects abroad. Ansals API tied up with Malaysia's UEM Group to form a 60:40 joint venture company, Ansal Api-UEM Contracts Pvt Ltd, which could bid for government projects in Malaysia, as also projects worldwide.
Signalling bounce back of the real estate sector after a prolonged slowdown, developers including Supertech and Ansal API, announced investments of nearly Rs 8,000 crore on projects over the next four years.
Ansal has received bookings for 1.66 million sq ft of space in January.
Unitech is pinning its hopes on the sub-Rs 5 lakh category of flats to counter the slowdown in the property sector. So are a host of others. Apart from Unitech, others such as Omaxe, Raheja, Tata Housing and Ansal API are planning new projects in the suburbs of satellite towns or smaller cities to target the bottom segment, to generate more cash.
Real estate firm Ansal Properties and Infrastructure Ltd plans to invest Rs 30,000 crore (Rs 300 billion) to develop 16 townships in north India during next 3-4 years.
Delayed project delivery and unrealistically high real estate prices, which developers are unwilling to lower despite piled up inventories, have adversely hit the sector.
The real estate industry today hailed the RBI's decision to cut key interest rate, saying the move will boost housing demand and also improve sentiments in the sluggish property market.
Income from renting of properties is taxed at a flat rate of 10%.
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