This upturn comes soon after an earlier stalling of demand. In February, DLF, the country's largest property developer, said it had stalled construction on 16 million sq ft of commercial space (retail and office) due to lack of demand. So, too, with other developers like Unitech, Parsvnath and Raheja, who either stalled or slowed the construction of their commercial properties because of a demand-supply mismatch.
At a recent meeting with Delhi chief secretary Rakesh Mehta besides other Industries department officials, private developers like DLF Commercial Developers Ltd and Consolidate Finvest and Holdings Ltd expressed their inability to invest in the project.
Be it India's Shiv Kapur or South African Brandon Stone, the golfers are keeping a close eye on the ongoing tournament.
JM Financial Asset Management (Gurgaon) requires two summer trainees for the managing and empanelment of Distributors.
The Board of approval in the commerce ministry took these decisions along with approving two fresh proposals of Shyam Steel Industries and Limitless Properties in West Bengal and Tamil Nadu, respectively. The BoA also ratified extension of time to 23 developers, including Satyam Computer Services, for implementing tax-free enclaves in the wake of economic slowdown.
All the sectoral indices, led by oil and gas, metals realty and banking, were trading in the negative zone.
Sources now believe that the next few months can see more companies raising money through qualified institutional placements and private equity. The success of the Unitech and DLF block deals have encouraged other companies to jump onto the bandwagon.
Indian Industry leaders are elated that the Congress government has returned to power. Here is a wishlist of Cabinet ministers.
Many, including DLF, Suzlon, UB, the Tata and the Aditya Birla Group are selling stake or assets to reduce debt and the strain on their balance sheets. That's because they have been hit either by slowing sales, or have a big exposure to markets in the West where demand has contracted sharply as a result of the economic downturn.
Demand for special economic zones (SEZs) appears to be reviving even as realty developers are shying away from developing these tax-free enclaves due to liquidity crunch, according to experts who are tracking SEZs.
Delhi on Friday got its first liquor outlet at a shopping mall which promises less hassles in buying spirits as compared to that from regular shops.
Realty major DLF saw the highest increase of over 9 per cent in foreign holdings in the first quarter of this fiscal compared to the previous quarter. According to an analysis of shareholding patterns of Sensex companies for the first quarter, 25 firms among the 30-share benchmark index Sensex saw an increase in their FII holdings in June quarter compared to the previous quarter.
The league will showcase 59 matches. Eight franchises will battle over 36 days in South Africa and each franchise will play on a home and away basis with seven matches at home.
Teen golf sensation Aditi Ashok scripted history as she became the first Indian woman to win a Ladies European Tour title by clinching the Hero Women's Indian Open in Gurgaon on Sunday.
Internal assessment follows banks' worries over systemic risks.
Battered and bruised by the slowdown, real estate developers have done a mid-course strategy correction and begun to offer low-cost and affordable houses.
Germany's Marcel Siem took the opening honours at the inaugural Avantha Masters by posting an eight-under-par 64 for a single shot lead over Chinese Taipei's Chan Yih-shin on Thursday.
An inspired Jeev Milkha Singh, who recently welcomed the arrival of his newborn son, returns to home soil for this week's inaugural Avantha Masters, promising to put Indian golf firmly on the world map. The two-time Asian Tour number one celebrated the birth of his first child a fortnight ago and believes his son will give him the added motivation when he plays in front of a partisan crowd that's expected to gather at the DLF Golf and Country Club from February 11 to 14.
Q3 will be better than the second, say bankers and builders.
Congress has approached the Election Commission seeking "exemplary punishment" for Prime Minister Narendra Modi over his remarks on a land deal involving Robert Vadra and DLF in Haryana.
Justice S N Dhingra Commission, which was set up to probe into grant of land licences to some companies including that of Robert Vadra's in Gurgaon during the Congress rule in Haryana, on Thursday sought six weeks more time to submit its report hours before the deadline was to end.
The Nifty ended down 14 points at 4,458. The market breadth was fairly negative - out of 2,681 stocks traded 1,367 declined while 1,215 advanced.
Recently, DLF, the country's largest real estate developer, wrote to buyers of its new housing project in Gurgaon about a cut in apartment prices by 20 per cent. According to the new plan, buyers will get 5 per cent discount over the basic sale price, another 10 per cent as timely-payment rebate and an increase in the compensation rate for delay from Rs 5 per sq ft per month to Rs 10 per sq ft per month.
Real estate majors, who had lined up projects in Punjab to woo non-resident Indians, have put on hold their plans indefinitely with most NRIs no longer keen to invest in these properties.
A majority of big real estate developers in India today said they are insulated from the financial crisis in Dubai and it will not have any impact in the country's property market.
Volatility returned to haunt the Street in the post-lunch session
The Congress has alleged a Bharatiya Janata Party hand in the land deal controversy in Haryana involving Robert Vadra, alleging that IAS officer Ashok Khemka, who "exposed" the land deal with DLF, is playing into the opposition's hands.
India's once soaring demand for high-end apartments and offices has slumped, leading to falling profits for large property developers and a shift in focus towards affordable housing for middle-class families.
A market-savvy investor can also use this opportunity to make a quick buck. That is, purchase the share at a lower price from the market and sell it back to the company at a higher price.
Real estate loans could become NPAs for banks.
After a strong start to the week on Tuesday, the Sensex this morning opened 15 points higher at 16,868 amid subdued global cues.
Speculators often leveraged volume discounts on property purchases to re-sell them at prices lower than those available to individual buyers. This created problems for realtors when demand slowed, since it put pressure on them to take a hit on margins and lower prices still further. The lock-ins are expected to be introduced mostly for mid-income projects that offer prices 20 to 30 per cent below the market and, therefore, attract more undercutting from bulk discount buyers.
DLF, Unitech, HDIL & Puravankara line up 60 million square feet of new launches. This is more than double the sales bookings in the past financial year.
DLF has sought the denotification of four of its IT/ITeS SEZs that were to come up in Haryana, Gujarat, Orissa and Kolkata, due to slowdown in the economy and liquidity crunch in the overall industry. The decision on the denotification would be taken on the June 2 meeting of the Board of Approval in the commerce ministry.
Around 576,000 housing units, worth Rs 4.64 trillion, are delayed in seven major cities of the country
Gaganjeet Bhullar did what has become his habit these days and brought home his second successive round of four-under 68 to grab the halfway lead in the DLF Masters golf tournament in Gurgaon on Friday.
The head of India's largest realtor is known as a businessman who likes to cut his losses.
Developers such as DLF, Unitech and Orbit are in the process of raising around Rs 5,000 crore (Rs 50 billion) in the current fiscal after they rolled over nearly Rs 9,000 crore (Rs 90 billion) debt subsequent to the Reserve Bank of India (RBI) allowing banks to restructure loans to developers.
Among the sectoral indices, realty and metal indices lead the rally.
Two blogs on the second season of the Indian Premier League are evoking contrasting responses.
