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.
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.
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.
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.
Real estate loans could become NPAs for banks.
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.
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.
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.
Developers announce new projects, vacant land being unlocked
Two blogs on the second season of the Indian Premier League are evoking contrasting responses.
Real estate developers like Indiabulls, DLF, Peninsula and even retail giant Future group are all considering converting space reserved for malls and hyper-markets to office space to meet heavy demand from financial institutions, investment banks and large companies.
Despite more than a 20 per cent fall in prices of houses in new projects, a majority of home buyers are looking for a further price reduction, a survey by an international brokerage shows.
He paid nearly Rs 34 crore for the stake.
Hilton has also hired Mallika Rao Bedi, former head of human resources at Oberoi and Trident Gurugram, as its regional head of human resources (Asia Pacific).
7.8 million square feet of mall space is under construction this year, the highest ever since 2011.
Does low-cost housing make economic sense? It seems to. Developers believe the loss in margins (20 per cent in affordable housing, against 50-300 per cent in case of premium housing) can be made up somewhat by the sheer volumes of sales.
After the first week of the DLF IPL, the Australians appeared to be dominating. From the second week onwards, especially after Matthew Hayden, Michael Hussey, Brett Lee and Andrew Symonds left, the Indians seemed to be gaining ascendancy with fine performances from Virender Sehwag, Gautam Gambhir, Rohit Sharma, the Pathan brothers and M S Dhoni.
With FIIs getting back the voracious appetite for Indian stocks, they have put in over Rs 3,500 crore (Rs 35 billion) through just 62 bulk deals on the Bombay Stock Exchange in the first two months of the current financial year.
Despite the slowdown and the poll debacle state IT minister is still upbeat about attracting investments in the IT sector.
Out of the proposed 74 malls in key eight cities at the beginning of 2008, only 34 were delivered through the year, the study showed. Developers in the National Capital Region lagged the most with a supply of 4.7 million sq ft compared with the earlier target of 7.1 million sq ft. Developers may continue to restrict their supply, or go slow on retail space by a similar amount in 2009 across key major cities, the study showed.
Since last month, the realty (down 23%), auto (down 16%) and finance (down 14%) indices have underperformed the market by falling over 13%, as against 8% decline in the benchmark indices
A slew of real estate companies, like DLF, Omaxe, BPTP and Avnija Properties (Dalmia Cement), and large corporations like telecom bigwig AT&T, Sterlite, Videocon, JSW Power, Hinduja's HTMT, Moser Baer Infrastructure, Ispat Industries Ltd and a Sam Pitroda-owned company are among the 25 companies whose applications will not be immediately processed by the Department of Telecommunications (DoT) for awarding mobile licences.
Unitech and Indiabulls Real Estate Ltd (IBREL) have deferred the listing of their respective real estate investment trusts (REITs) on the Singapore Stock Exchange (SGX)owing to the liquidity crunch in the global markets. Both Unitech and IBREL have received approval from the SGX for the initial public offers (IPOs) of their trusts.
New services will bring the IPL to mobile phone screens.
The team, owned by Emerging Media, has been christened as 'Rajasthan Royals'.
India's fourth biggest realty company (by market cap) Indiabulls Real Estate (IBREL) on Tuesday said that it was planning to launch an initial public offering (IPO) for its property trust Indiabulls Properties Investment Trust (IPIT) on the Singapore Stock Exchange (SGX).
According to industry estimates, around Rs 8,000 crore of real estate projects covering over 40 million square feet are facing delays.
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.
India's C Muniyappa, an unheralded golfer from Bangalore, upstaged stars like Arjun Atwal to enjoy a share of the halfway lead in the US$1.25 million Hero Honda Indian Open on Friday.
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Some major property companies based in South India, such as Puravankara and Sobha Developers, are spreading their wings in the high-growth National Capital Region market.
Virender Sehwag of Delhi Daredevils is currently the best performing captain. Shane Warne of Rajasthan Royals and V V S Laxman of Deccan Chargers offer the next best value for money, partly because they carry smaller price tags than the other captains.
A day after the Board of Control for Cricket in India announced that players can be transferred for the second edition of the DLF Indian Premier League team, owners are already drawing up their wish lists.
Insurance Regulatory and Development Authority (IRDA) on Thursday said ten new players have applied for licences to enter into this fast growing sector.The Shriram group, Ranbaxy-promoted Religare Securities and real estate major DLF, have sought regulatory approval for entering the insurance sector, Muralidharan said.
The viewership numbers of the DLF Indian Premier League have thrown up a new trend that challenges conventional advertising wisdom. No less than 36 per cent of the television viewership for the first two matches played on April 18 and April 19 was contributed by women, according to TAM Media Research. All told, 8.2 million women in six metros (Delhi, Mumbai, Kolkata, Chennai, Hyderabad and Bangalore) watched cricket on television those nights, giving serials the miss.
Kingfisher Airlines will be the Official Umpire Partner for the Indian Premier League and will also sponsor all third umpire decisions during the 59 action packed games in the Twenty20 tournament beginning next month.
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