Mukesh Ambani’s wife Nita Ambani and his associate Manoj Modi joined the Board of Directors of EIH, the parent of the Oberoi Hotels chain that includes Calcutta’s Grand Hotel, on Monday, Oct 31.
Mumbai real estate is debating over a possible price correction as sale registrations for September recorded a 29-month low at 4,137, down 22 per cent year-on-year.
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.
While other leading players in the realty and construction are reeling under investors’ loss of confidence, JP Infra’s stock has zoomed by over 40 per cent from Rs.44.50 exactly a month ago to Rs.63.05 on the BSE, outpacing peers.
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.
If the current economic conditions have proved nothing else, they certainly prove that investment in Indian residential real estate is impossible to write off, ignore or find an alternative to.
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.
In one of the decade’s largest real estate deals in Kolkata, Ambuja Realty has acquired the RMZ block of Ecospace Business Park in New Town, Rajarhat, Kolkata.
The Andhra Pradesh Government will take all steps to ensure that Hyderabad’s real estate industry bounces back to normalcy soon, said Chief Minister N Kiran Kumar Reddy.
The Malaysia’s Selangor State Development Corporation (PKNS) has forayed into India’s real estate sector and is close to concluding a deal with a leading developer to build affordable houses in Mumbai.