The Confederation of Real Estate Developers’ Association of India (CREDAI) demands the proposed law to regulate the development of India’s real estate sector must be comprehensive to address the interests and responsibilities of all stakeholders.
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.
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.
Urban Development Minister Kamal Nath admitted today that “the government has not responded to the tremendous growth in the real estate sector in the last one decade appropriately”.
Indian arm of a leading Bangkok based developer is looking to invest some $300 million in the country’s real estate market, particularly in the major cities of Delhi, Mumbai and Bangalore.
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.
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 bullion company, Goldsukh Trade India Limited has now entered into real-estate estate.
A day after its Managing Director Vinod Goenka was arrested in the 2G spectrum scam case on Wednesday, the controversial Mumbai-based real estate company DB Realty inducted his father, K M Goenka, as a Non-Executive Director.