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.
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.
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.
Q3 will be better than the second, say bankers and builders.
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.
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.
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.
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.
Real estate loans could become NPAs for banks.
Volatility returned to haunt the Street in the post-lunch session
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.
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.
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).
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.
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.
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.
Developers announce new projects, vacant land being unlocked
7.8 million square feet of mall space is under construction this year, the highest ever since 2011.
Two blogs on the second season of the Indian Premier League are evoking contrasting responses.
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
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.
He paid nearly Rs 34 crore for the stake.
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.
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.
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.
The NSE Nifty is at 5,148, up 82 points. The prominent gainers were HDFC Bank, Wipro, HUL, NTPC, Sterlite and Tata Power, up 1-2% each.
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'.
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