After cautioning over an asset bubble in the real estate sector, the Reserve Bank of India has cracked the whip. The apex bank has sought clarification from six real estate companies on their proposal to raise external commercial borrowings.
The JD-U flayed the ruling United Progressive Alliance government for its policy on special economic zones calling it "the biggest real estate scam in India" and sought immediate suspension of implementation of the "anti-farmer act".
Despite the absence of any notable price growth, transaction volumes are picking up in major Indian cities. The surge in sentiments is also backed by a significant rise in transparency in the industry.
The clampdown will be part of a package from the central bank to make end-use norms for external commercial borrowing (ECB) funds more stringent for various sectors.
With real estate development in India becoming increasingly organised, foreign investors are vying for a piece of the pie, expecting 20 to 25 per cent project return and and between 9 per cent to 11 per cent annual yield on investment.
The sale of fresh residential units (in square foot) by listed real estate companies has seen a downward trend in the first half of 2013-14.
While Lehman will invest Rs 500 crore and hold 75 per cent in the JV, Peninsula Land will subscribe to the remaining equity at an investment of Rs 200 crore, according to sources.
Govt should take steps to monetise real estate investment schemes.
Domestic Institutional Investors (DIIs) have significantly increased their holdings in Nifty 500 companies, reaching a record 20.9 per cent by the end of March, while Foreign Portfolio Investors (FPIs) reduced their ownership to an all-time low of 17.1 per cent, according to Motilal Oswal Financial Services.
The government proposes to treat the investments by foreign institutional investors in pre initial public offers (IPOs) of real estate companies at par with foreign direct investment.
Greaves Cotton, for instance, has converted half its holding into commercial real estate (a multiplex) while Elpro plans to follow suit by developing half its 37-acre land at Chinchwad.
Given its risky profile, the realty sector could collapse if the bull run fails to take off
Among the international companies that are increasing their investments is the Japanese paint major, Nippon, which is putting in about Rs 80 crore (Rs 800 million) for manufacturing facilities in Gurgaon and a 25-acre unit in Chennai.
Finance Minister Arun Jaitley's Budget 2014 allows retail investors in India to have an affordable, liquid and convenient way to invest in real estate.
With experts concurring that India and China are lucrative markets for real estate, a comparison between the two countries is inevitable, writes Ravi Teja Sharma.
Real estate has much further to fall and you should govern yourself accordingly
We must not allow another cycle of crazy price rises to set in. Or land banking to become the next new hot industry.
The prices started escalating three years back and went through the roof.
The new real estate hubs could typically take between 5 and 10 years to develop depending on the state of economy of the city and the state.
A career in real estate was till now limited to brokers, masons and labourers. Not anymore as the industry opens up limitless scope for investment bankers, marketing managers, visual merchandisers and supply chain distributors.
This week's OTT releases offer a diverse range of entertainment, from a violent spin on the Devdas story in DC to the return of the Dhamaal gang in Dhamaal 4, and the latest intergalactic adventures of The Mandalorian and Grogu.
An 80-year-old man in Delhi died by suicide, reportedly due to health issues and personal loss. Police investigation is underway.
Leasing activities of office and retail spaces would not be affected much.
Outsourcing of information technology jobs, which is likely to continue to countries like India, has had an unexpected resul
After a long time, real estate companies could hit the fund-raising trail. The reason is improvement in investor sentiment.
GE Commercial Finance will invest $63 million in the Indian IT Parks Fund, sponsored by Ascendas Pte Ltd.
Real estate regulation Bill is consumer-friendly and promotes transparency but does not address the issue of inefficiencies in the approval process and other delays by government bodies.
Real estate major CB Richard Ellis has been named the 'Top commercial real estate brand' by the internationally recognised consulting firm Lipsey company.
Non-resident Indians with wealth stuck in real estate in India have reason to rejoice.
If you are already invested in real estate stocks, you've made your money, exit
Former India all-rounder Yuvraj Singh has partnered with UAE-based real estate developer BNW Developers for a brand campaign titled 'Against All Odds'.
'The government has to stop trying to fix things for lenders, projects, homeowners and developers and think instead about how to fix the market for houses,' says Mihir S Sharma.
The company is close to buying 1-million square foot office space for Rs 700 crore in Bengaluru.
After years of living with his family in a poky 110 sq. ft. 'house', textile worker Sambhaji Surve dreams of moving into a home four times the size once the Maharashtra government starts its ambitious redevelopment of the 39-acre Kamathipura shanty town in south-central Mumbai. Sharing his dream are about 8,000 other families hoping for a better life when the redevelopment project, part of the government's effort to redevelop old settlements and make life more livable for some residents, gets underway. The Shiv Sena-Nationalist Congress Party aims to redevelop BDD Chawl and Dharavi but for Surve all the matters is Kamathipura where he arrived in the 1970s from Nasik to work in a textile mill. Kamathipura was originally built 150 years ago following construction of a causeway to connect the seven islands of Mumbai. From the British Raj to post-independence, it became infamous for slums and brothels.
"As I begin the next chapter of my life, I am looking for ways to pursue a career in business, specifically in real estate," Agassi, 36, said in a statement.
You would be a fool to expect 200 per cent returns every time you invest in real estate. More so, when you don't count the risks engaged in such an adventure
Indian property market and its regulations need to be reformed further to attract foreign direct investment while the demand for space for business process outsourcing is expected to cross over two crore square feet in the next three-five years.
