The Reserve Bank of India has imposed a monetary penalty of Rupees five lakh on Manipal Co-operative Bank Ltd., Manipal, Karnataka for violating RBI directives by granting loans for real estate purpose exceeding the single party exposure limit of 15 per cent of its capital funds.
Adani Realty Business, the real estate arm of the Adani Group, plans to invest Rs.5,000 crore in the group’s upcoming township in Ahmedabad.
Union minister for urban development Kamal Nath on Thursday said the number of approvals a developer has to get will have to be cut down for faster and more efficient property development in the country.
Fortis Healthcare (India) Ltd. plans to raise as much as $500 million by hiving off some of its properties into a real-estate investment trust, or REIT, and listing it in Singapore.
India’s real estate stocks have attractive valuations after plunging 83% from their peak and are likely to rebound within two years, according to Macquarie Group.
Lisa Home Solutions, a Pune based property management solution provider is looking for expansion. The brand has facilitated the expertise of Francorp for its strategic expansion.
After recording significant leasing in 4Q10, Mumbai city witnessed moderate transaction activity in 1Q11 as the major office occupiers of India Inc awaited the impact of budget on their corporate real estate strategy for the next fiscal year.
The period ending 1Q11 witnessed moderate activity in the office market in the city. With CBD vacancy rates continuing to hover at around 1%, office transactions were limited to either small office queries or larger office spaces that were inevitably a churn in the existing stock.
Real estate developers in Chhattisgarh are among the first to have agreed to follow code of conduct to ensure transparency in the dealings of the sector.
The Orissa chapter of the Confederation of Real Estate Developers Association of India (CREDAI) aims to put an end to real estate cheating cases.