CB Richard Ellis Group Inc., the commercial real estate services company has reported first quarter 2011 revenues of $1.2 billion compared with $1.0 billion in the year-earlier quarter, reflecting an increase of 16%.
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.
Fraudsters will soon find it difficult to dupe banks by mortgaging the same property with two lenders or selling mortgaged property.
Ascendas India Development Trust (AIDT), the India-focused real estate fund floated by Singapore-based office space developer, is looking to raise close to $350 million.
Nearly four years back when the real estate market was at its peak all the developers tried to diversify into other greener pastures.
On 11 March, a major earthquake and tsunami hit Eastern Japan. According to official statistics, the number of deceased had surpassed 13,000 as at 14 April.
The Income-Tax department is planning to look into all suspected real estate deals to check involvement of black money component and tax evasion.
The Sensex has always been a barometer of the country’s general economic ‘mood’. The real estate index, on the other hand, is an indicator of the sentiments towards real estate developers.
Demand for residential development will continue to remain unabated, but the requirement of real estate by retail industry over the next five years and even thereafter will provide a major thrust to the property market in India, said CB Richard Ellis’ global president Robert E Sulentic.
Realty firms are making a beeline to private equity investors for money to repay mounting debt portfolios. With commercial banks turning cautious about lending to the real estate sector, industry players strapped for cash are seeking equity capital to ease the liquidity crunch.