As many as seven out of 10 Indians with disposal income, a whopping 72 per cent, go to shopping malls at least twice a month but don’t buy the monthly food & grocery, apparels or consumer durables over there.
The Confederation of Real Estate Developers’ Association of India (CREDAI) Friday urged the central government to introduce single window clearance and a uniform tax structure for the sector across the country.
India’s housing shortfall is estimated to be around 27 million and Chennai city alone faces a deficit of 60,000 housing units.
While the banks and financial institutions are overtly blaming the real estate companies for defaulting on the loan repayment, it is learnt that they are also showing largesse to the realtors by rescheduling their loan repayment.
When the leading real estate company DLF sold 1250 flats within 2 hours of launch in 2009, there were many eyebrows raised. After all, in a market that was weathering crisis of confidence and liquidity it was hard to believe in the first place.
Hotel Leelaventure will invest Rs.100 crore to upgrade its property in Goa in 2011 and is looking to expand presence in the country by opening new company-owned properties and taking up management contracts.
DB Realty, the tainted Mumbai-based real estate developer whose name figured in the 2G spectrum investigations, has lost its fourth director since February.
Australia’s Platinum Investment Management has raised its stake in India’s second largest real estate firm Unitech to 5.16%.
Global financial meltdown and the NRIs fear psychosis with the collapse of financial institutions seems to have by default been the catalyst to the realty boom in Punjab.
This week has been a good one for investors in real estate shares, who had seen their investments lose 30%-55% in value over the past six months in the wake of a number of corruption allegations involving the sector.