Track2Realty-Agencies: India has launched an ambitious Rs 1,300 crore housing project in northern Sri Lanka to build brand new homes for about 43,000 ethnic Tamil families displaced due to the civil war in the country.
Price rationalisation has always been a tricky issue in real estate business where demand and supply dynamics drive the market more than any other parameter. The fact that real estate is not a perishable commodity and mostly a business of deep pockets, holding of inventory many a time makes more sense than hard sell keeping in mind the pipeline visibility.
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.
Aiming to promote excellence and bring in global standards in real estate arena, developers body CREDAI has announced an institute for research & professional studies and educational scholarships for needy students pursuing higher education.
The Competition Commission of India has found cement manufacturers in violation of the provisions of the Competition Act, 2002 which deals with anticompetitive agreements including Cartels. The order was passed pursuant to investigation carried out by the Director General upon information filed by Builders Association of India.
Once seen as very powerful economic tool for catalyzing the growth process during restructure and liberalization of economy, Special Economic Zones (SEZs) in India could not replicate the Chinese success story, as assumed. Track2Realty takes a look on the future of SEZs in India as realtors make a beeline to exit or extend the tax haven, and the Government groping for fresh ideas.
India-Sri Lanka bilateral trade has increased by over 65% last year, close to U.S. $5 billion, Indian High Commissioner to Sri Lanka Ashok K. Kantha, has said.
Ramprastha Group has signed up Blue Lotus Communications for PR services. The north-India based Group has developed over 20 million Sq ft of area and another 10 million Sq ft is under development.
Hiranandani Group on Friday, September 16, announced it was setting up a 200-bed multi-specialty hospital in Thane city, expected to be operational in the next two years.
Realty consultant CB Richard Ellis India said on Wednesday, July 20, leasing activities for office spaces in major cities during April-June period has increased by over 33% to eight million sq ft compared to the previous quarter.