Further insight on the current state of the Indian economy will be provided with the release of July industrial production data on Wednesday 12th and August WPI (inflation) on Friday 14th. Recent news flow has generally been a little downbeat but the picture is not a uniform one.
LIC Housing Finance, a subsidiary of Life Insurance Corporation of India (LIC) plans to disburse around 8-10 percent of its total loan portfolio to developers by the end of this fiscal, a top company official said.
Developers in Punjab have opposed the state government’s move to levy social infrastructure cess on property transactions, saying it would hit demand in the sector which is already facing slowdown.
CREDAI has reacted sharply over the Finance Minister’s asking chiefs of public sector banks to put pressure on real estate developers to lower property prices and not hold invetory. CREDAI has said in a release that instead of asking realtors to download unsold stock at discounted prices, the Union Finance Minister P Chidambaram should take immediate steps to boost to housing stock supply through special incentives to the affordable segment.
Tata Realty and Infrastructure Ltd (TRIL) proposes to invest over Rs 1700 crore in two to three years for various projects in the country, including Rs 550 crore in Kochi for a premium waterfront residential property, ‘Tritvam’, at Marine Drive.
Foreign investor purchases in freehold projects in Dubai are still dominated by Indians who have retained the number one spot since foreign ownership regulations were applied, a new research has revealed.
DLF on Tuesday, Aug 7, said it expects to close sale of three non-core assets, which will help pare its debt by about 5,000 crore, by the end of the current fiscal.
According to the latest RICS India Commercial Property Survey, sentiment in the Indian real estate market has been adversely affected in the second quarter, as the economic picture in the country continues to remain bleak with the declining value of the rupee and growth forecasts being revised lower, along with a deteriorating global climate.
Pointing out that real estate development can revive the sagging economy, developers’ apex body CREDAI has called for launching a mission to make India Housing Surplus from the current status of a housing deficit nation by 2020.
Cushman & Wakefield has opened its new office in Ahmedabad…