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Sunteck Realty has reportedly entered into an agreement to acquire over 10 acres land parcel in Goregaon suburb of Mumbai for nearly Rs.350 crore.
In India, investor interest is also seeing a slowdown on account of the lower absorption of new developments and the disparity between investment returns and capital values.
The Supreme Court today admitted Sahara India Real Estate Corporation Limited (SIRECL’s) plea challenging the Securities Appellate Tribunal order directing it to refund around Rs.17,400 crore to investors who had invested in its OFCDs.
Real estate consultants Jones Lang LaSalle in conjunction with law firm Blake Dawson, have launched The Asia Pacific Property Investment Guide 2012, a comprehensive guide to how real estate markets operate across Asia Pacific.
International hospitality major Wyndham Hotel Group has entered into a partnership with Ahmedabad-based Unique Mercantile to develop 35 hotels in India under Howard Johnson brand in the next five years.
Market report has it that commercial realty is continuously going into red. A Report by the Royal Institution of Chartered Surveyors (RICS) suggests Indian commercial property market has lost momentum in Q3 with the capital values turning negative for the first time since 2009.
The Confederation of Real Estate Developers’ Association of India (CREDAI) has welcomed the decision of the Government to approve the Development Plan (DP) for 23 villages of Pune saying it would provide a fillip to growth.
Global financial uncertainty, shrinking demand, liquidity crunch, repo hike and demand-supply mismatch…all is not well with the commercial real estate in India.
Analysts believe that further price correction may not happen in the metros and suburbs due to the holding capacity of the bigger developers, but lack of funding options may force some standalone local builders to drop prices.
Residents of Pune looking for affordable housing schemes are pretty disappointed with the 2-day property exhibition, Profest 2012, of Confederation of Real Estate Developers’ Association of India (CREDAI) Pune.