The change in the latest Budget will impact the sale and rent of SEZ units of companies like Adani Port, which has large SEZs in Mundra.
Bahrain Bay Development, a futuristic residential and commercial project, has signed a letter of intent with an Indian consortium to develop a $150 million project within the Bahrain Bay masterplan.
Some banks are camouflaging their lending to small, unknown real estate developers to skirt stringent capital adequacy and provisioning requirements.
Central Board of Excise and Customs chairman V Sridhar has also said the realty sector would not attract 10 per cent service tax in effect.
According to Jones Lang LaSalle's March Global Market Perspective, the stock of commercial property in major cities such as Delhi and Mumbai are forecast to expand by 50 per cent in 2009. 'Tier I cities in the emerging markets of China and India are facing a situation of major oversupply and also are likely to witness significant falls in rentals this year as vacancy levels climb...,' the report said.
At least 38 per cent, or 8.3 million square feet, of its projected commercial space of 21.4 million square feet in its six parks will thus remain indefinitely on hold. The rentals from all these parks were expected to generate revenues for its AIM-listed associate Unitech Corporate Park, which has invested pound 317 million to acquire majority stakes in all the six seed projects in return of leasing rights.
Indian real estate developers, enjoying boom times, want your capital.
The government has relaxed the norms for allowing foreign direct investment (FDI) in the construction development sector. It is expected the move will boost affordable housing projects and smart cities across the country.
The problem is major, and the problem affects hundreds of millions of people. Ignoring it must have a sound reason. Ignoring it must in some way be more important than addressing it, notes Aakar Patel.
Having completed the country's largest initial public offering of $2 billion (about Rs 8,200 crore), DLF Chairman K P Singh is getting ready to raise a similar amount in Singapore.
The total demand for housing in the country is likely to cross 75 lakh (7.5 million) units within the next five years, while the same for commercial spaces will touch 195 million sq ft, signalling a revival in the realty sector.
Hiranandani Group's real estate investment firm, Hirco Plc on Thursday announced it will invest over Rs 1,000 crore (28.4 million pounds) in a commercial township development project near Mumbai.
GE Commercial Finance, which has an asset base of more than $230 billion globally, is planning to increase its exposure in the Indian market.
Elevator News Network (ENN), in association with Helius Inc (Canada), is looking at a turnover of Rs 100 crore in India on the back of growth in out-of-home media, real estate and shopping malls in the country.
Indian Railways under Piyush Goyal has chalked out a new plan for station redevelopment. Railway stations in 15 cities may soon offer residential apartments.
The Kushan Pal Singh-led realty major has halted construction work on nearly 16 million sq ft of office and retail mall space out of the 62 million sq ft of planned construction. In the office space, the developer has stalled construction on nearly 12 million sq ft of office space out of the 36 million sq ft of space being planned.
TSI Ventures (India), a real estate joint venture between US-based Tishman Speyer and ICICI Venture, is planning to invest over $1 billion (about Rs 4,600 crore) in next 8-10 years to develop commercial and residential properties in the country.
Rakeen, a company promoted by Ras Al Khaimah, one of the seven emirates in the UAE, said it will invest $5 billion in India's real estate projects in partnership with a Chennai-based company.
Most of Kolte Patil's business comes from Pune, which makes it risky.
The Reserve Bank on Wednesday said the non-performing assets of banks have gone up for the first time in six years in 2007-08 and the bad loans of new generation private banks and foreign lenders are "more noticeable" due to their aggressive lending to real estate and housing segments.
Tatas' drive into Sanand area for their Nano project has given a major fillip to Mumbai-based real estate major K Raheja Corp to set up its support infrastructure projects in the area.
The liquidity squeeze-induced slump in demand has forced real estate leader DLF to fire some employees, put a number of hotel and housing projects on hold and yearn for 7 per cent home loan rates.
The government ban on external commercial borrowing, or ECBs, for integrated townships has shut off a staggering $12 billion that was to be raised for integrated townships, reports CNBC-TV18.
Mall mania has hit the town what with 15 malls expected to be ready by 2009.
In layman terms this means that in cases where buyers purchase houses before completion of construction, builders would be levied works contract tax on the building material.
S&P Global Ratings on Wednesday said Indian banks face a systemic risk as the second COVID wave will impair the performance of financial institutions in the April-September period. Stating that economic recovery remains highly vulnerable to setbacks due to COVID, particularly if fresh outbreaks trigger new lockdowns, S&P said the banking sector's weak loans will likely remain elevated at 11-12 per cent of gross loans in the next 12 to 18 months. "The second wave has front-ended weakness in asset quality," said S&P Global Ratings Credit Analyst Deepali Seth Chhabria. "Financial institutions face a strained first half amid weak collections and poor disbursements."
Real estate developer BPTP Group has won the right to develop 94 acres of commercial land at Noida for Rs 5,006 crore. Country's largest realty company DLF and Omaxe were the other contenders. BPTP's winning bid was nearly 70 per cent more than the reserve price of Rs 2960 crore for the land parcel. The commercial complex at Noida will cater to the shoppers living along and commuting via the expressway. BPTP recently bought a 30 acres plot at Hyderabad for about Rs 666 crore.
To lend a Mughal-era ambience to shopping in the city of the Taj, Quality Constructions Ltd, an Agra-based real-estate developer, announced the completion of its Taj shopping plaza project near Taj Mahal on Monday.
Apartment prices at Planet Godrej, a premium residential property developed by Godrej Properties in the tony Mahalaxmi area of Mumbai, had come down to as low as Rs 17,000 to Rs 18,000 a sq ft in the property market slowdown last year.
Cement companies witnessed speculative support from investors through FY23 amid hopes of a rebound. After capex announcements in the FY24 Budget, there was further interest due to expectations that government expenditure would boost earnings, besides a generic macro-recovery. Cement earnings were under pressure in FY22 and FY23 due to high raw material and fuel costs; muted demand prevented them passing on the higher cost.
The land acquisition, the consolidation process in Kot and a slew of other decisions by the Haryana government to open the hills to privatisation and commercial activity run contrary to court orders, environmentalists' demand, and at times the Union government's measures to protect the Aravalli hills, say Nitin Sethi & Kumar Sambhav Shrivastava.
Out of the ten prime plots purchased by this joint venture, Delta Corp East Africa Limited (in which RIL holds 58.8 per cent stake) has completed construction of at least one low-cost residential complex
Rising real estate costs and lack of good locations in cities are driving hotel companies to rent space in malls and other commercial complexes. For instance, Accor Hotels is in talks with mall developers to build its Formulae 1 brand of budget hotels at the topfloor of malls in tier I and tier II cities.
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