Realtors exploring alternative channel of funding
As India’s realty sector goes through a liquidity crunch with banks tightening lending norms and property sales dropping, real estate developers are turning to alternative channels of funds.
As India’s realty sector goes through a liquidity crunch with banks tightening lending norms and property sales dropping, real estate developers are turning to alternative channels of funds.
Sahara Group has reportedly filed an appeal before the Securities Appellate Tribunal against the market regulator SEBI order directing the refund of money to investors in its optionally fully convertible debentures.
Tata Realty and M3M Developers are believed to be in the race to buy DLF’s Gurgaon plot for around Rs.400 crore.
Spencer’s has initiated stake sale talks with a foreign retailer on hopes that foreign direct investment will be opened up in multi-brand retail.
The Confederation of Real Estate Developers’ Association of India (CREDAI) has estimated that the sector will face a funding gap to the tune of USD 70 billion over the next five years.
The Maharashtra Chamber of Housing Industry today welcomed the new FSI guidelines proposed by Brihanmumbai Municipal Corporation Commissioner Subodh Kumar as a consumer friendly move.
The government plans to enact the Benami Transactions (Prohibition) Bill, 2011, to replace the existing Benami Transactions (Prohibition) Act, 1988.
The Confederation of Real Estate Developers’ Association of India (CREDAI) has asked builders, whose projects in Patwari have been affected by the high court order, to move the Supreme Court.
The Allahabad High Court judgment might have raised alarm bells among the developers of Noida Extension, but the moot point remains as to who is actually on the edge-developers or home buyers?
Godrej Properties could look at dilution of promoters’ holding in the company in the next six months.