More than half a dozen builders, including Ahmedabad-based Bakeri Group, Lodha Developers and Indiabulls Real Estate, have either pulled out of the affordable-housing segment or have changed their offering.
The Reserve Bank of India (RBI) has asked banks to go slow on lending to the commercial real estate projects. The central bank fears an asset price bubble.
UK-based hospitality firm Whitbread today said it will invest 75 million pounds (over Rs 535 crore) in India by 2020 to fund its hotels business in the country.
Shares of DLF rose six per cent in Monday’s trading on expectations the company’s debt reduction strategy was falling in place, said analysts tracking the stock.
Property prices in seven cities across India dropped by 2.63 per cent to 17.6 per cent during the January to March quarter, according to the latest data released by the National Housing Bank.
CHD Developers Ltd has appointed Ravi Saund as the Chief Operating Officer. He will continue to report to Gaurav Mittal, MD, CHD Developers Ltd.
The Reserve Bank of India has laid out strict and tedious due diligence standards for banks in sanctioning loans to the real estate sector.
DLF, India’s largest real estate company, will sell its shareholding in two IT SEZs in Pune and Noida, for a combined value of Rs.1,300 crore.
Corporators of the Bruhat Bangalore Mahanagara Palike, cutting across party lines, have accused the Mantri group of encroaching government land.
DLF is planning to expand its luxury retail business. Having opened its luxury mall Emporio in the Capital about two years ago, DLF is exploring an opportunity to open a similar outlet in Delhi in the near future.