Big projects may wait till second half of the year as developers turn focus towards execution and delivery
The scope of the certification is focused on 'The Development of Commercial and Residential Complexes'.
The shortage of labour, a fund crunch, high interest rates and steep input costs have hammered the net profits of major real estate developers in the second quarter.
DLF, the country's largest realty firm, on Thursday bagged a 350-acre plot for Rs 1,750 crore (Rs 17.50 billion) in Haryana for developing a recreation and leisure project, making it one of the costliest land deals in recent times.
Having cleared over 200 special economic zone proposals, the Board of Approval will take up 46 fresh cases on Friday.
Leading theatre chain PVR Ltd announced a cash-and-stock deal to buy out realtor DLF group's national multiplex chain, DT Cinemas.
This comes right after DLF, the largest property developer, brought out a range of measures to soothe restive customers at a couple of other housing projects at Gurgaon. The Unitech customer ire is due to alleged delay in completion of World Spa, apartments and villas that carry an average price tag of over Rs 1 crore (Rs 10 million) per unit.
Move aimed at reducing tax exemptions ahead of Budget 2008-09.
High lending rates triggered by Reserve Bank's tight monetary policy have tranquilized the country's property market, but demand will surge once rates dip, real estate firm DLF Ltd's chairman K P Singh said on Tuesday.
Making the things worse, those hitting their record low share prices included big names like Reliance Power, Cipla, Ranbaxy, Ambuja Cement, Hindalco, Indian Hotels, Jaiprakash Associates, Jet Airways, Suzlon Energy and Idea Cellular. Realty majors DLF Ltd, Unitech, Parsvnath, Sobha Developers, Omaxe and Puravankara also plunged to their all-time lows.
Stock markets will be driven by domestic inflation data, ongoing quarterly earnings from corporates and global trends this week, analysts said. News flows around the general election would also be tracked by investors, market experts said.
Ambani and Adani account for a fifth of the net worth of all billionaire promoters in the country and half the combined net worth of the top 10.
The development comes close on the heels of DLF's closing the Rs 325-crore (Rs 3.25-billion) deal to sell 150 MW wind turbine project in Gujarat.
Huge share offerings may lead to record inflow in 2007.
CCI had imposed a penalty of Rs 630 crore on DLF in August 2011.
A CBI official has clarified that the agency did not find any criminal offence again DLF regarding land rights.
The company has already booked Rs 5,450 crore (Rs 54.5 billion) revenue from sale of 5 million sq ft it has sold to DAL. DLF on Tuesday clarified to the exchanges that it had been looking at various options from time to time but no definite option had been presented to the board so far for its consideration.
This is the second project in the country in which a metro rail project is being undertaken through a PPP model after the 71-kilometre Hyderabad metro project was won by Maytas Infrastructure. According to industry sources, infrastructure major Larsen & Toubro had also initially shown interest for the project, but backed out finally.
Over a dozen private players, including Anil Ambani-promoted Reliance Energy Ltd (REL), real estate giant DLF and infrastructure majors GMR and L&T, are understood to have bid for modernisation of Udaipur airport.Other bidders in race for the project include Soma Constructions, L&T and Gammon India, besides Dubai-based ETA, the sources added.
Future Gaming and Hotel Services whose director is the lottery magnate Santiago Martin is the top purchaser of electoral bonds having purchased bonds worth Rs 1,368, according to data uploaded by the Election Commission of India on its website on Thursday.
The US Federal Reserve's interest rate decision, global cues, macroeconomic data announcements and the ongoing quarterly earnings are the major triggers that will dictate trends in stock markets this week, analysts said. Besides, the trading activity of foreign investors and the movement of global oil benchmark Brent crude will also be tracked. "All eyes are on the outcome of the US Federal Reserve meeting scheduled for November 1, particularly due to the multi-year high levels of the US bond yields.
While giving approval to commercially develop land in Gurgaon, the Haryana government considered Robert Vadra's name and status as proof of his company's financial capacity.
Quarterly earnings, global trends and trading activity of foreign investors will drive stock markets in this holiday-shortened week, analysts said. It will be a trading holiday on January 22, with the Maharashtra government announcing a holiday in connection with the consecration of the Ram Temple in Ayodhya. Equity markets would also remain closed on Friday for Republic Day.
From steel tycoon Lakshmi Mittal to billionaire Sunil Bharti Mittal's Airtel, Anil Agarwal's Vedanta, ITC, Mahindra and Mahindra, and a lesser-known Future Gaming and Hotel Services were among the prominent buyers of the now-scrapped electoral bonds for making political donations.
Domestic equity markets, which are at record high levels, will be driven by quarterly earnings, global trends and foreign fund movement, analysts said. The movement of rupee and global oil benchmark Brent crude will also be tracked by investors. "The direction of global stock markets, fluctuations in the rupee-to-dollar exchange rate, and movement in crude oil prices will all play a crucial role in influencing the overall market trend.
It also asked why the data shared pertained to a period from April 2019 even though the scheme for anonymous political funding was introduced in 2017.
Enquiries indicate it belongs to an industrialist with links to a prominent cricketer.
Cleaning up India's grubby business climate is top of the agenda for both regulators and the government.
Credit outstanding to the housing sector rose by nearly Rs 10 lakh crore in the last two fiscals to reach a record Rs 27.23 lakh crore in March this year, according to RBI's data on 'Sectoral Deployment of Bank Credit'. Experts from banking and real estate sectors attributed this growth in housing credit outstanding to a strong revival in the residential property market post-COVID pandemic on pent-up demand. According to the data of the Reserve Bank of India (RBI) on sectoral deployment of bank credit for March 2024, the credit outstanding to the housing (including priority sector housing') stood at Rs 27,22,720 crore in March 2024, up from Rs 19,88,532 crore in March 2023, and Rs 17,26,697 crore in March 2022.
Housing sector to benefit from Budget.
The 30-share Sensex ended down 35 points at 26,349 and the 50-share Nifty ended down 20 points at 7,864.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Real estate bill seeks to impose penalties, including de-registration of the project and other fines in case of a breach.
It has been a difficult year for Singh, whose fate from the start has been closely tied to that of the Gandhi family.
The net debt of top eight realty firms fell 43 per cent to Rs 23,000 crore last fiscal, from around Rs 40,000 crore in 2019-20, as their cash flow improved on strong housing sales, according to Anarock. Real estate consultant Anarock noted that the unfettered demand for housing across the country has enabled the country's leading large and listed developers to reduce their debt. Anarock analysed financial performances of the top eight developers engaged in the development of residential real estate.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Sensex, Nifty post biggest weekly fall this year on inflation data.
Banking stocks felt the heat due to worries that the lending rate cuts will hit their bottom line
Top 100 billionaires see their wealth rise 10%; top 20 account for half of total wealth of top 100.
