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DLF Brands, a subsidiary of DLF Ltd, has aggressive plans to expand its retail business by introducing more international brands into India, besides opening at least 50 new outlets every year in the country.
Call it the fallout of Competition Commission of India (CCI) penalty on the biggest real estate company DLF in a Gurgaon case last August, there has been a rush of complaints at the CCI against several property majors since then. According to CCI officials at least 200 complaint letters came to them against real estate players, of them around 15 were official cases.
Kruti Jain: I believe any funding available in real estate is gap funding. It is not about only the gap which is there in funding for real estate because what happens for other industries is that they have this reserve capital which is not their land or raw material, but is the actual capital they put in to manufacture xyz product and then they replenish the funds with whatever returns are accrued.
Assotech Realty has said it will take pan-India stride by opening serviced residence in 25 major cities across India.
Godrej Properties’ stock offering to raise up to $90 million received bids for 18 percent more than the shares on offer, boosting the outlook for a newly approved process that companies can tap to cut founder stakes.
Can policy paralysis lead to postponement of sales exhibition? Doesn’t sluggish market demand more pro-active sales drive? Is a completely sold out exhibition postponed because it anticipates no business in advance? Well, if MCHI-CREDAI is to be believed, they have postponed the Real Estate & Housing Finance Exhibition, PROPERTY 2012 Mega Show, scheduled to be held on 12th – 15th April, 2012, due to policy paralysis. However, it seems to be more a case of ideas paralysis.
The over-heated Mumbai property market is taking its toll on the property transactions and sales in Mumbai property is the lowest of the six major cities across the country. According to reports, over the last one year leading to December 2011, residential sales in Mumbai have dropped by 28 per cent.
Parsvnath Developers is raising Rs 120 crore from Kotak Realty Fund for a new 100-acre integrated township project on Sohna Road in Gurgaon. Kotak Realty fund will get a 20% stake in the special purpose vehicle that will develop the yet unnamed project, according to the sources close to the development.
If only the secondary market was any indicator of real estate growth, the argument that that the real estate market is turning bearish in Chandigarh would have been true. But while the prices have softened a bit in the city, the beneficiary is the periphery of Chandigarh that makes the overall property market in the city very bullish and overall economy vibrant.
Hiranandanis have roped in Cherie Blair, the wife of former British Prime Minister Tony Blair and a Queen’s Counsel (QC), as an arbitrator for a Rs 1,400-crore dispute in the family. The other arbitrators are another QC and former Delhi High Court Chief Justice A P Shah. The panel is expected to solve by June the scrap between brother and sister, who are both high-fliers in their own right.