It is a highly disappointing budget. The Finance Minister has miserably failed in highlighting the importance the role of Housing in economy, employment generation, apart from the very need of housing. The announcements on ECB for affordable housing is a minor respite but still meaningless.
The Union Budget 2012-13 has left the Indian real estate sector grope with the indecision yet again and everyone is wondering whether the Finance Minister’s offer is glass half full or half empty for them.
Bangalore-based property firm Century Real Estate Holdings is reportedly setting up a venture capital fund with a corpus of around Rs.100 crore.
Morgan Stanley has named Shirish Godbole as the head of its global real estate investment fund in India.
The impact of slowdown is already being felt on the real estate market with residential segment witnessing sluggish demand across all the major cities.
Mumbai-based infrastructure and real estate firm, Atlanta in consortium has bagged around Rs.10435.1mn order from NHAI, the flagship road building program of the Ministry of Transport and Highways.
Bangalore-based Sobha Developers has bought entire equity of its joint-venture partner, Pan Atlantic Investments Limited, a Dubai-based PE investment company for Rs.98.5 crore.
The Securities Appellate Tribunal (SAT) on Wednesday, September 7, asked Sahara to file an affidavit explaining the method by which entities of the group had raised thousands of crores of rupees from investors through convertible instruments.
Tata Housing has announced a Rs.1,000-crore foray into Maldives with villas priced at a princely Rs.30 crore each.
The Lucknow bench of the Allahabad high court will hear the Sahara Group versus Securities and Exchange Board of India (SEBI) case only after the capital markets regulator completes its probe.