Godrej Properties partners with Royal LePage to tap Canadian buyers
Godrej Properties has announced that it has partnered with Royal LePage to help Canadians and non-resident Indians (NRIs) invest in India’s growing real estate market.
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Theme Ventures signs Mumbai realty cos to sell residential properties to corporates
Below the line marketing company Theme Ventures has signed a group of well-known real estate companies in Mumbai to sell the residential properties directly to the corporate employees by setting up shops inside the large work premises, the news reports said.
PEs lapping up IT parks, SEZs for assured returns
Real estate-focused Private Equity Funds are looking at investing in pre-leased commercial projects, including IT Parks and Special Economic Zones (SEZs), as they look for assured returns from their investments.
CCI issues order against cement manufacturers, imposes penalty of more than six thousand crores on 11 cement companies
The Competition Commission of India has found cement manufacturers in violation of the provisions of the Competition Act, 2002 which deals with anticompetitive agreements including Cartels. The order was passed pursuant to investigation carried out by the Director General upon information filed by Builders Association of India.
Assam developers call for rationalisation of rules
Terming the current building rules as cumbersome, realty developers of Assam have called for simplification and rationalisation of norms and reduction in duties. “The real estate players are in a bind over high spiralling taxes and registration duties which are the highest in Guwahati,” Assam Real Estate and Infrastructure Developers Association President P K Sharma told reporters in Guwahati.
Hyderabad realtors hopeful of mandatory clause relaxation
Hyderabad realtors are expecting the government to announce a revision in the mandatory quota for low income groups and the poor pegged at 20 per cent for big plots now that the by-polls are over.
Supertech’s pre-launch offer raises many questions
“Supertech invites you to invest in a pre-launch project at an attractive discount,” this SMS has been sent at least 5 times within a week. The bulk SMS, however, fails to acknowledge that many of these unsolicited messages are being delivered to the wrong recipients, including media, in front of whom most of the developers deny to pre-launch the projects any more. As a matter of fact, ever since Supreme Court came down heavily on the pre-launch offer of the developers, various states including Haryana have banned such offers.
Haryana hikes colonization fee, may impact property prices
After house tax, the Haryana Cabinet has reportedly targeted real estate sector in the state by approving the proposal of the department of town and country planning to increase the licence fee for residential plots, group housing and industrial colonies. Details of the increased rates shall be notified in the next couple of days, officials in the department of town and country planning said.
Mumbai Grade A office rents expected to grow 1-2%, Delhi by 0-1% in Q2
Jones Lang LaSalle’s markets experts have shared their expectations for the office leasing markets in Asia Pacific in the second quarter of 2012. In those markets that were experiencing office rental declines in previous quarters, the Markets teams are anticipating a slowdown in the rate of decline, for example a three to four percent fall in Grade A office rents this quarter in Hong Kong compared to an actual 6.3 percent decline in the first quarter.
Parsvnath Developers posts Rs 23 crore loss in Q4
Parsvnath Developers has reported a net loss of Rs 23…