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.
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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.
ABD to merge with CREDAI
The Association of Builders and Developers of Thrissur (ABD) will merge with the Confederation of Real Estate Developers’ Associations of India (CREDAI), the apex body for private real estate developers in India.
CAG raps IT over tax claim on Hasan Ali
The Comptroller and Auditor General (CAG) said in a report released on Friday that the Income-Tax Department (I-T) understated claims on Pune-based businessman Hasan Ali.
Dubai mulls new mortgage model to boost real estate
Dubai International Financial Centre (DIFC) and Absalon Project, a joint venture between affiliates of VP Securities and Soros Fund Management, have launched a feasibility study for a mortgage system in the UAE, based on the principles of the Danish Mortgage Model.
PM bats for lower real estate stamp duty
Terming stamp duties as a “big obstacle” in ensuring transparent transactions in real estate, Prime Minister Manmohan Singh on Friday batted for reducing such levies to check the flow of black money in the sector.
JLL donates $1.25 Million to Japan earthquake and Pacific tsunami relief
Global commercial real estate firm Jones Lang LaSalle has announced the firm is donating 100 million yen (approximately $1.25 million) to the Japanese Red Cross to provide aid and relief directly to those most in need following the Japan earthquake and Pacific Tsunami that have left a path of destruction in their wake.
Affordable housing demand will surge, says RNCOS study
With government support and increase in number of real estate developers, affordable housing demand will surge at a CAGR of around 13% during 2011-2013, says a research report by RNCOS a thinktank group on industry intelligence and creative solutions for contemporary business segments.