Innovative funding may work in Indian realty
Pranay Vakil: Kruti can you give some examples of innovative funding for the benefit of the panel? It is just to prove a point about how innovative that funding has been.
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Will auspicious Gudi Padwa remove Mumbai property jinx?
The over-heated Mumbai property market is taking its toll on the property transactions and sales in Mumbai property is the lowest of the six major cities across the country. According to reports, over the last one year leading to December 2011, residential sales in Mumbai have dropped by 28 per cent.
Kotak Realty to invest Rs 120 crore in Parsvnath Developers
Parsvnath Developers is raising Rs 120 crore from Kotak Realty Fund for a new 100-acre integrated township project on Sohna Road in Gurgaon. Kotak Realty fund will get a 20% stake in the special purpose vehicle that will develop the yet unnamed project, according to the sources close to the development.
IPO funding a strategic mistake for real estate
Sunil Dahiya: Pranay, the most important thing is the background of the investor from the developer’s perspective. My understanding may be a little limited because I come form the Delhi NCR market and as you know, it is a very localized subject. But being in the governing council of NAREDCO at the national level, where Knight Frank is knowledge partner, one of the presentations that we had in 2008 with the idea that where the industry has lost its bearing and funding was the main agenda.
SARE Homes launches luxury private Sky Deck ‘Petioles’
SARE Homes (South Asian Real Estate) has launched ‘Petioles’, privacy apartments with Gurgaon’s first luxury private Sky Deck in Gurgaon, Sector 92. Developed on a sprawling 48-acre integrated township, Petioles claims to be Gurgaon’s first luxury private ‘Sky Deck’ consisting of a viewing deck, yoga and meditation zone, viewing deck, water wall and putting green.
Gurgaon residential property investor update
Over the last one year, capital values rose by more than 30-35% in Gurgaon’s residential sector. Developers are now going slow on execution of real estate projects, resulting in a drop in supply of residential apartments in most prime markets. Emerging residential areas are still not able to meet the huge housing demand.
Union Budget has exceeded the expectations
“For the real estate and housing sector, this years’ budget has exceeded expectations given the pressure on fiscal situation. Most importantly, it has taken into account the crying need to focus on affordable housing sector by allowing ECB for low cost housing, road as well as construction. Withholding tax on ECBs for affordable housing has been reduced from 20% to 5% for 3 years and this move will help ease the liquidity in the sector.
Funding gap in real estate
Pranay Vakil: Let’s start by introducing ourselves. I am Pranay Vakil, Chairman of Knight Frank India. We are a brokerage and consultancy group, positioned as second in the business.
SEBI for checks on ‘independent’ research analysts
Fearing share price manipulation with the help of certain ‘independent’ research reports onIndian companies, market watchdog Sebi may soon bring all kinds of research analysts under its regulatory ambit.
Prolonging the funding deadlock
The PE players have expressed concern about difficulty in exits, governance issues in investee companies and certain taxes such as the Dividend Distribution Tax which are excessive and do not conform with global standards.