Managing Director Vinod Goenka says the company is not looking at restructuring.
Both partners would inject $200 million each in the form of equity and hold 50 per cent stake each. They plan to raise another $600 million in the form of debt to create a corpus of $1 billion to develop malls across tier-I, II and III cities.
Even as Finance Minister P Chidambaram has asserted that the real estate sector is overheating, the ICICI Bank today claimed that there is genuine demand for houses and people have only deferred their decision to buy property.
Draft prospectus to be filed next week; second trust, with Panchshil, in a few months
'We have already sanctioned loans worth over Rs 3,000 crore to around 120,000 customers.'
PMC Bank depositors have spent the last one year holding protests, meeting politicians, writing to various authorities in an effort to get their hard-earned money back.
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Nearly 40 developers participating in HDFC Indian Homes Fair in London would showcase thousands of property.
Leading job portal Monster.com said on Monday that recruitment activities in many sectors witnessed a decline last month compared to July.
Revenue from convenience fees has grown at a compound annual rate of 85 per cent for multiplex chain operator Inox Leisure and 58 per cent for PVR.
Markets such as Bengaluru and Chennai, which had managed to escape the impact of real estate slowdown so far, appear to be giving in now.
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.
Aamir Khan introduces his friends to PK.
'It seems to be a bit of an aberration. It should be set right; there is a proper mechanism in place. In the normal course, the state police do not have any jurisdiction on central government employees,' the official said.
DB Realty Ltd is taking aggressive steps to come out of the shadows of the second generation telecom spectrum scam.
'The government has realised that the finances of the government are in a precarious state.' 'We are borrowing to fund the ever-burgeoning revenue deficit.' 'Then you are paying interest on the fresh borrowing.' 'For the first time, the government has realised that this cannot go on.'
India's largest private equity fund management company IL&FS Investment Managers Ltd said on Tuesday it will invest $100 million in QVC Realty making it the first venture capital-backed real estate start-up in the country.
Gurgaon and Mumbai, the richest cities in Haryana and Maharashtra, respectively, have always been the preferred markets for investors. Most parts of these cities are beyond the reach for those looking for affordable homes.
Prices of residential property in Mumbai, NCR, Bengaluru, Pune, Chennai, Hyderabad, Kolkata and Ahmedabad witnessed a sharp fall in H1-2020 with Kolkata witnessing the steepest drop of 7.5% to Rs 33,433 per square meter. Demand for office space fell the most in Pune and NCR markets at 47% and 45% respectively.
In one of the largest FDI deals in realty sector, global private equity Warburg Pincus will invest Rs 1,800 crore (Rs 18 billion) in Piramal Realty, which would use the funds to develop mixed-use projects in the megalopolis.
Hiranandani Constructions' Managing Director Niranjan Hiranandani feels a 10-15 per cent hike is likely this year in residential properties.
Meet Anand Kumar, a government clerk who transformed into a real estate and hospitality baron.
Comey is scheduled to appear before the Senate Intelligence Committee on Thursday.
It was an individual complainant, seeking action against Rs 34 crore (Rs 340 million) he was allegedly duped, and "sham transactions" involving three 'housewives' that has led to regulator Sebi coming hard on the country's biggest real estate developer DLF and its top executives.
Banking and real estate stocks rise up to 5% on further rate-cut hope.
While the thrust will be on pan-India residential projects, office and retail launches, too, will add up to make for the realtor's project mix of 12 to 16 million sq ft during the coming year.
Faced with slow offtake in big-ticket residential apartments, property developers are launching one bedroom (BHK) apartments to generate fast liquidity.
The common denominator: They were predominantly Gujarati, mostly male, and either related by blood or very well-known to Nirav.
Current market prices are on a peak and interest rates jacking up. It will be prudent to wait and watch before you buy your house, says Knight Frank honcho Gulam Zia.
Crisis-hit HDIL on Tuesday said that loans taken from banks including Punjab and Maharashtra Cooperative Bank were in normal course of business after providing adequate security cover and that it is ready to discuss with the bank to protect the interest of depositors.
Rakesh Kerwell, director (north), DLF India Limited, said with the apex vacating the stay, the company will resume work on a war footing to make up for the time lost during the stay period since April 19.
The submission by the actress in a 12-page affidavit in which she said the "constant sensationalisation" was causing extreme trauma and infringement of privacy of her rights came a day ahead of the next hearing of her plea for transfer of the Bihar police FIR against her from Patna to Mumbai.
Supertech is just one among the many real estate players returning to commercial projects.
The real estate sector is not only one of the key drivers of economic growth of a country but is also a measure of the same. As challenging conditions prevail, we expect that issues like government approvals, FDI and liquidity would be addressed.
The government on Saturday made its prior approval mandatory for foreign investments from countries that share land border with India to curb 'opportunistic takeovers' of domestic firms following the COVID-19 pandemic, a move which will restrict Foreign Direct Investment from China.
Weak absorption and rising inventories in the residential market in Mumbai may lead to price correction in the early part of 2014, real estate consultancy firm Knight Frank said.
The stakeholders' sentiments for a shorter period fell from 63 in Q3 2014 to 48 in Q3 2015.
The tragedy had struck the tea gardens of the twin districts of Golaghat and Jorhat after a large number of their workers consumed the spurious liquor on Thursday night.
Corporate leaders said a stable government at the Centre will help boost infrastructure spend, address agricultural distress, and encouraging employment.
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