At least four firms, Ansal Properties and Infrastructure Ltd (Ansal API), Emaar MGF Land Ltd, Kumar Urban Development Ltd and Paranjape Schemes Constructions Ltd, have received fresh sanctions from banks, although overall lending to the sector remains subdued.
For the Union Budget 2011-12, rising inflation, tight liquidity, high interest rate, industrial slowdown, delayed reforms and negative market sentiment were some of the key concerns to address.
Real Estate developers across the country have termed the Union Budget 2011-12 as a tie cricket match which can’t be termed as won or lost. However, they are all unanimous that it is not a game changer budget for the sector.
It would seem that the Union Budget 2011 pointedly ignored the larger issues affecting the Indian real estate sector at this sensitive stage of revival and growth.
We are happy with the governments focus on affordable housing. Loan amount that qualifies under priority sector lending. Now, a home loan of Rs. 25 lakh would qualify as priority sector lending.
Real Estate may boast off to be the second largest economic activity and the largest employment provider in the economy, but when it comes to have a say in the policy making, they are found to be sulking.
Reforms in the real estate sector is the need of the hour for tackling issues like high stamp duty which often results in otherwise honest people having to deal in black money, according to the Economic Survey 2010-11 tabled by Finance Minister Pranab Mukherjee in the Lok Sabha on Friday.
Omkar Realtors & Developers Pvt Ltd has launched its second project in Andheri East ‘The Summit – Business Bay’. This business centre offers small, flexible & self-contained office spaces starting at 994 sq. ft. The grand single tower infrastructure soaring high on connectivity and accessibility is characterized by 13 floors of office space spread over 5 lakh sq ft.
Residential sales in Hyderabad remained modest in 4Q10. Although the city witnessed many launches, sales did not pick up. Market sentiment, especially among investors, stayed low as political uncertainty persisted.
Even as Lower Parel and BKC vie with each other for pre-eminence as Mumbai’s commercial real estate hotspots, Dadar – Mumbai’s oldest and most established locations – stands in a class uniquely its own by virtue of its extremely favourable geographical placement and connectivity. For this reason – and for all practical purposes – Dadar is the heart of Mumbai.