CII urges capital flow in housing
The Confederation of Indian Industry (CII) has said there is a need to improve the infrastructure and increase in flow of capital in the housing segment, given the increase in the land prices.
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DLF, Unitech to miss FY 11 sales target
Indian real estate majors, DLF and Unitech, are set to miss their FY11 sales target, despite prices reaching the highs of 2007. Mid cap names like HDIL, Ackruti City and Sobha Developers are however on track to meet their targets.
ED raids realtor Hasan Ali’s CA residence
The Enforcement Directorate (ED) today, March 23, carried out searches at the Pune residence of Sunil Shinde, the chartered account of realtor and stud farm owner Hasan Ali Khan, who is facing charges of money laundering and tax evasion.
Realtors protest new bill
Real estate developers have expressed their reservations to the proposed Real Estate Bill 2011, which is likely to see light by this year-end.
Kotak property arm to rise up to $500 mn for India buys
Kotak Realty Fund, the property investment arm of India’s Kotak Mahindra Bank, plans to raise as much as USD 500 million by the second quarter of this year, in a bet on the long term case for property in Asia’s third-largest economy, a top official said.
True Value Homes to invest Rs. 800 crore
Chennai-based real estate developer True Value Homes is planning to invest Rs.800 crore over the next three years to develop around 12 projects, majority of which will be in the residential segment.
Indians to be most active buyers of British real estate
Indians are emerging as among the most active buyers of property in Britain, according to a report in local British media.
Group buying site Groffr acquires Mobstreet.in
Mumbai-based RCSPL, which owns group buying portal for real estate GrOffr.com, has acquired Mobstreet.in, a company which was officially shut down in December 2010 due to lack of funds.
Ashiana Housing hands over Ashiana Aangan Phase-III
Ashiana group has announced the completion of Phase 3 of its group housing project. Just half an hour’s drive from Gurgaon. Ashiana Aangan is strategically located at Bhiwadi, one of the fastest growing townships and industrial hub in northern India.
Mumbai residential property market – correction update
Mumbai saw a steep rise in property prices during the boom period of 2008. However, the economic slowdown in 2009 led to a property market crash which made itself very tangible in Mumbai in the first quarter of 2009, stabilizing by the middle of year and rising again between the 3rd and 4th quarters.