Shahid U Balwa, one of the promoters of the leading real estate company, DB Realty, as well as the controversial Swan Telecom (now Etilisat DB Telecom), has been questioned by the Central Bureau of Investigation.
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.
Within a week of the CBI arresting senior bankers in the housing finance racket, the competition watchdog CCI on Monday said 11 real estate companies are already under its scanner.
Concept of a real estate Bill has been around in the government for almost 10 years now.
this move by the government is likely to iron out the current challenges for the NBFCs and in turn help the real estate sector.
Buyers suffer because they often don't know the relevant details.
As we had expected, real estate stocks have seen a slump in prices. The downturn may continue, so it's better to stay away.
Prices of apartments and villas have gone up by up to nine per cent and 16 per cent respectively here during the first half of this year, indicating that the real estate market is on the way to recovery after three years of decline.
Land aggregators now want to sell to large corporations because their payment is guaranteed.
Investing requires discipline. One cannot blindly invest money without knowing what one is getting into. Investing into real estate is no different. Here is a checklist that you should use when evaluating your property investment.
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.
Overlap refers to the same stocks appearing across fund portfolios.
The RBI reminded that the primary role of these banks is to lend for activities related to agriculture and rural development. The central bank said it has come to its notice that certain state cooperative and central cooperative banks have extended finance to the sector.
The Act envisages that the states and Centre will formulate specific rules for real estate regulation.
Housing sales fell 1 per cent last year to over 3.48 lakh units across eight major cities, with demand stagnating amid an average price rise of up to 19 per cent, according to Knight Frank. In a virtual press conference on Wednesday, real estate consultant Knight Frank India noted that the decline in interest rates on home loans, strong economic growth and lower inflation were some of the key factors that helped in sustaining the housing demand during the 2025 calendar year despite fears of an impending correction.
Even though the Reserve Bank of India (RBI) has reduced the risk weightage on loans to commercial developers and cut general provisioning for commercial real estate, commercial banks may not start lending to the sector immediately.
BRPSE's new chairman Nitish Sengupta has suggested that at least three ailing companies, which have been referred to the board, hive off some of their land and get into real estate development to become profitable again.
With a view to exploit its real estate assets, the Indian Railways plans to lease out some of them and aims to rake-in Rs 600 crore (Rs 6 billion) through this move this fiscal, a senior Railways official said.
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.
The total demand has remained subdued mainly due to high interest rates and property prices.
Real estate sector cheers reforms in the Budget.
"We are not slowing down on any of our projects. Jaipur is rocking, Chennai is doing well, city-based projects such as Faridabad are also doing well," Mahindra and Mahindra Ltd Executive Arun Nanda told reporters in New Delhi on the sidelines of India Economic Summit. Fundamentals of real estate have not changed. Nanda said, there were no funding issues for its projects and the company's affordable housing projects are not going to disappear.
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.
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.
Maharashtra has pipped Tamil Nadu in NITI Aayog's latest Export Preparedness Index (EPI) for 2024. While Gujarat, Uttar Pradesh and Andhra Pradesh gained ground, Karnataka and Haryana slipped out of the top five, the central government think tank said in its report released on Wednesday.
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".
Given its risky profile, the realty sector could collapse if the bull run fails to take off
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.
The BSE Sensex has been one of the top-performing areas of investment in the past 40 years, consistently delivering double-digit returns in rupee terms, beating assets such as global equities, precious metals, and fixed income.
Govt should take steps to monetise real estate investment schemes.
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.
'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.
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 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.
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.
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.
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.
Leasing activities of office and retail spaces would not be affected much.
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