Ackruti City is in talks with a couple of private equity (PE) lenders to raise around Rs.150 crore by selling around 25% in its proposed redevelopment project in Chembur, north eastern suburb of Mumbai.
The impact of slowdown is already being felt on the real estate market with residential segment witnessing sluggish demand across all the major cities.
HDFC Realty, the private equity arm of Housing Development Finance Corporation, is in talks with the world’s largest sovereign funds to raise its fourth real estate fund.
Property rates in the capital are set to zoom further as Delhi Government on Monday, October 31, hiked the circle rates by up to 250 per cent to check black money in sale and purchase transactions.
Investment Corporation of Dubai (ICD), a financing arm of the government, and Brookfield Asset Management have agreed to jointly sponsor a real estate fund with $100 million in seed money to focus on the domestic market.
In the wake of large scale criticism and the realtors’ protest against repo rate hike, the Government raised the housing loan ceiling for availing one per cent interest subsidy to Rs.15 lakh from existing Rs.10 lakh.
The latest interest rate hike by the Reserve Bank of India (RBI) is bound to push up the price of housing loans as well as the residential apartments.
CREDAI Orissa on Sunday, September 23, demanded a level playing field for the developers to play sheet anchor role in shaping proper urbanization in the state.
After the Allahabad high court cleared land acquisition in 60-odd villages, barring a few where no real estate activity was on, hope has begun floating for thousands of middle-class buyers.
Ratings agency CRISIL has urged Housing Boards and State Governments to generate more awareness on the significance of ratings in developing a real estate project, to help create a level playing field.