It is mixed sentiments for some players in the real estate industry as IT sector in Bangalore trundles back on purchase mode but Hyderabad displays a cautious sentiment owing to the current political situation.
Chief executives in the real estate, consumer products, automobiles, construction, and textile sectors said they were all expecting workers to re-join in the next 45-60 days, which would help them ramp-up production from July.
Although both Telangana and Samaikyandhra agitators are still fighting over the status of Hyderabad, many builders are showing a keen interest on 'construction activity' in Vijayawada, said Giridhara Prasad Gupta, a real estate businessman.
Credit-dependent sectors such as real estate and automobiles may also be hit by a rise in interest rates.
Volatility returned to haunt the Street in the post-lunch session
While Noida and Greater Noida, next to Delhi, had gained in prominence under Mayawati as the Uttar Pradesh chief minister, Lucknow would get the same treatment now, experts said after the results to the five state elections were announced.
Ruling out any relaxation in regulations, market regulator SEBI on Saturday said it will soon allow real estate funds, short selling by big investors and a system of stock lending and borrowing.
Pawar said he was upset that his three sisters were dragged into this.
Rupert Murdoch-led News Corp has acquired 25 per cent stake in real estate portal PropTiger.com for $30 million.
Amid the perception of gloom and doom in the Indian property market, here's something to cheer about. The real estate industry has given 1.21 times, or 20 per cent, average returns to private equity (PE) investors in the past four years, compared to the global average of 0.8 times.
The NSE Nifty ended at 4,111, up 137 points. The market breadth was extremely positive. Out of 2,639 stocks traded, 1,956 advanced while only 602 declined. The rest were unchanged.
Indian office real estate supply is expected to cross 100 million sq ft in a year to cater huge IT and IT-enabled services requirements.
Owing to the risk perception attached with the segment by banks, the residential realty segment has been increasingly relying on non-banking financial companies and housing finance companies to raise debt financing, reports Abhijit Lele.
The developers are hoping for some policy actions in the upcoming budget to revive the sector, which they feel would be key for the speedy recovery.
Developers who are launching new projects are opting for this route, as they need not pay the entire amount in one lot and owners need not forego the potential rise in value. As much as 70 per cent of land deals in the country take place through this model now, against 40-45 per cent a couple of years earlier, say property consultants.
Experts say investors are investing in residential units in Greater Noida, hoping for significant returns through the next few years.
The plot C-65 in the G Block of Bandra Kurla Complex was leased to Goisu Realty (a unit of Sumitomo) for 80 years by MMRDA.
Internal assessment follows banks' worries over systemic risks.
There has been a significant upsurge in the hiring activities as 52 per cent of companies are recruiting new staff at the moment, while 60 per cent are looking to do so in the near future.
The Union Cabinet has cleared the Real Estate (Regulation and Development) Bill, aimed at organising and monitoring the sector.
Companies are either taking small government projects alone or bidding for larger ones with consortium partners. The companies, which had 18-75 per cent of their order books in property development, say they are facing payment delays of 20-90 days from some of the private developers, blocking their working capital requirements. Some of them take a week's advance payment from developers to execute their projects.
Indians are the fourth-largest property buyers in Singapore.
Most rate-sensitive stocks ended on a negative note, with BSE auto, bankex, finance and realty indices cracking up to 2.10 per cent.
The real estate industry is divided over the impact of the proposed foreign direct investment (FDI) in multi-brand retail.
On other counts, however, RBI has not found merit in the commerce ministry's argument to keep loans for SEZ development outside the ambit of commercial real estate exposure. It has reiterated that bank exposure for purchase of land for an SEZ and its development, will be classified as commercial real estate, while infrastructure development will not be treated in the same manner.
Bangalore, the country's IT capital, is ranked No.1 on development prospects and 4th on investment prospects among Asia-Pacific (Apac) cities in 2009 from 13th poistion in 2008, according to the Emerging Trends in Real Estate Asia Pacific 2009 Report, which collated responses from participants across Asia-Pacific.
According to RBI data, bank lending to commercial real estate registered 20 per cent growth in the year ended May 30 as compared to 1.2 per cent in the previous year.
Rs 40 crore already deployed in a residential project in Chennai.
The US-based global financial company is understood to have shown a "keen interest" in helping the hospital, which has 140 acres in its land bank, to unlock the value of its real estate assets.
Real estate companies betting big on tier II and tier III markets sold more stock than firms focused on metros.
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