Some of the country's largest listed real estate developers - DLF, Prestige Estates, and Puravankara - are foraying into the Rs 50,000-crore residential property market of Mumbai, where home prices are among the highest in the world. All of them are set to launch residential projects in the financial capital of the country, where the market is dominated by players such as Runwal, Lodha, and Oberoi Realty, among others. Leading the race is Prestige, which has lined up 6 million square feet (msf) of new launches in the city across Mulund and Byculla in the third quarter of this financial year (2021-22).
'Today, 75 per cent of sales come from residences.'
The failure of SVB was due to idiosyncratic reasons, but shows how higher rates can expose fault lines in unforeseen places, observes Neelkanth Mishra.
India has eased foreign direct investment rules for the construction sector, the government said on Wednesday, in an effort to attract more money into the country to build new hotels, housing and townships.
After launching mid-income houses, real estate companies are now targeting low-priced homes in the sub-Rs 10 lakh (Rs 1 million) category to improve cash flows and beat the slump in the property market that has been driven by high borrowing rates.
The most common complaint of financial consumers is cumbersome processes, complicated products, usurious charges, and mis-selling of products, which finally don't deliver what is promised or as expect, notes Debashis Basu.
In markets such as Mumbai, prices have gone beyond Rs 1.5 cr to Rs 2 cr which is beyond reach of most of the salaried class
Take advantage of the reduced interest rates offered by banks and the tax benefits to make it a lucrative deal
The last time a bear attack was launched on a controversial businessman was when a cabal of brokers launched an assault in the early 1980s on what they thought was an over-priced Reliance share, recalls T N Ninan.
In order to promote the housing sector, Reserve Bank of India on Friday decided to rationalise risk weightage on housing loans, making the product attractive for both borrowers and lenders. With revision in the risk weightage, the requirement of capital provision for banks will come down. This will encourage banks to push housing loan products with attractive features.
Developers are likely to start announcing their festive season offers soon, reports Sanjay Kumar Singh.
Some developers point out that what comes in the way of low-cost housing is the sky-high price of land
The ever-astute Ravi Matthai, Director of Indian Institute of Management, Ahmedabad in 1971, offered me a basic salary of Rs 1,000 per month on my return from the United States. I doubt if IIMA could hire a faculty member at Rs 55,000 per month today! points out Dr Shreekant Sambrani.
The council also cut GST rates on affordable housing to 1 per cent from the current 8 per cent.
The difference between what the banks play in the US and India is not that of soccer and football but rugby and football. SVB also has a unique character. But when risks are mispriced, the fallout could be very similar, points out Tamal Bandyopadhyay.
'They have started becoming an important player, but not at the same level as they were in the earlier part of the decade.'
Scores of PTI workers and policemen suffered injuries in the violent clashes. So far, no casualty has been reported.
Mumbai, India's financial capital, is set for a mega transformation with a massive patch of land opening up for redevelopment; a new metro railway ready to start services by the year-end; and the country's oldest railway station, the Chhatrapati Shivaji Terminus, going for modernisation with private sector participation. Work on Mumbai's second airport will start from next month, while construction of the sea link connecting central Mumbai to Navi Mumbai has already moved into a fast lane despite Covid-induced lockdowns. Also, a coastal road project, connecting Nariman Point to Worli, is under way and will help decongest the city to quite an extent. Of all these mega infrastructure projects, the one that has a huge potential to change the city's skyline is the Eastern Waterfront project - to be built on the Mumbai Port Trust (MbPT) land.
The residential real estate prices in Powai and adjoining areas are around Rs 25,000 per sq ft.
'Real estate loans are given in the garb of retail loans, sourcing money cheap from the NHB refinance window.' 'This loophole is being plugged,' notes Tamal Bandyopadhyay.
The issue of lynchings resonated in the Rajya Sabha; while in the Lok Sabha, the Opposition accused the government of not being sensitive towards farmers' issues.
Reserve Bank of India (RBI) deputy governor M Rajeshwar Rao on Wednesday defended the central bank's decision of not allowing industrial houses to float banks, and said more deliberations are needed before RBI changes its stance on this issue agreed back in 2001. An internal working group (IWG) of the RBI had recommended allowing industrial groups into banking, but late last month the RBI said it kept on hold the two recommendations of allowing industrial houses and large non-banks to float banks. However, RBI had accepted 21 of the 33 recommendations of the group that submitted its report a year ago.
"The Central Public Works Department has asked Tata Projects Ltd to start the construction work of the new parliament building on January 15 as it is considered auspicious to commence such a project on the day of first dawn after 'Makar Sankranti'," the official sources said.
Cooperative societies get more tax benefits as compared to individual house owners.
IIT Delhi is the first academic institute to have obtained the ICMR approval for a real-time PCR- based diagnostic assay. The development also comes against the backdrop of the Indian Council of Medical Research halting the testing for COVID-19 cases through China-made test kits because of massive variation in test results, compounding the challenge to check and contain the pandemic.
'You can choose who you would like as your showstopper.' 'You have the freedom to create your own background -- sun, moon and the stars, which may sometimes not be possible in a physical show.'
A host of dynamic reforms, policies and announcements during the last five years are expected to reach its logical fruition in the second term, says Ankit Kansal.
Low home loan rates by banks could put large players in an advantageous position over smaller non-bank players, believe analysts.
Poor governance and mediocre short-sighted politics are destroying the paradise that Goa was as its environment, water table, culture and way of life is drastically threatened by tourism and migration, points out Ramesh Menon.
'But we are much better than what we all had expected and planned, and what all the prophets of doom had predicted.'
Tax benefit on WFH expenses, regulatory clarity on cryptos figure high on their wish list.
'Most of the agitations are staged by the Opposition to disturb the peace of the state.'
Piramals are the largest investors in the Indian real estate sector after HDFC, with investments worth $3 billion already.
Four-nation grouping Quad on Tuesday launched a major new initiative for the Indo-Pacific that allows the partner countries to fully monitor the waters on their shores and help ensure peace and stability in the region, a move that comes amid China's increasingly intimidatory behaviour.
It is not unlikely that ahead of the Lok Sabha elections, the BJP government comes up with more imaginative schemes aimed at constituency-building. The party under Modi's leadership has a more modern thinking in such matters unlike its rivals, which are still steeped only in ideology, points out N Sathiya Moorthy.
Here's the full text of Prime Minister Narendra Modi's address to a joint session of the United States Congress, delivered on Thursday.
With Centre, state and municipal governments passing the buck on issues as critical as sanitation, Aditi Phadnis looks at the revolving door politics that is often played with the running of local self government
Syriza lawmakers walked the corridors telling reporters the government might not survive the night.
What went on inside Kolkata's 'house of horror'? Indrani Roy/Rediff.com reports.
