DLF, Hubtown unload Pune SEZ to Blackstone
Realty major DLF on Wednesday, Dec 28, announced sale of its information technology special economic zone (IT SEZ) in Pune to Blackstone Group.
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Unlisted real estate firms more hit by piling debt
While the piling debt of the listed real estate companies has hit the headlines throughout the year 2011, the debt of the unlisted realty companies today stands at Rs.15 trillion.
Emaar uses Dubai Mall as security in $1bn loan
Emaar Properties has used Dubai Mall, one of the world’s largest shopping centres, as collateral to secure Dh3.6 billion (US$980 million) of financing from a trio of UAE banks.
India’s tallest tower gets booking worth Rs.100 crore in festive season
The real estate market may be in a slump with developers innovating ways and means to increase sell, but the festive season seems to be bringing in good cheer for the country’s tallest tower — Lodha World One.
Oberoi Realty Profit Rises 17% to Rs. 1.11 Billion
Oberoi Realty said second-quarter profit rose 17 percent as sales growth beat analysts’ estimates.
Realty sector exudes guarded optimism over SC rule on realty sales via power of attorney
The real estate sector has expressed guarded optimism on Supreme Court ruling that terms as “illegal” any sale of immoveable property through power of attorney (POA) unless the case is “genuine”.
Ascott opening its doors to India
Singapore-based Ascott Group, which operates serviced residences across the world, is finally opening its doors to India.
Unitech shareholders block dividend payment resolution
The resolution for a dividend was blocked on Thursday, September 29, at the Annual General Meeting (AGM) of Unitech, the second-largest real estate firm in India.
Lodha Developers to raise Rs.825 crore
Lodha Developers Ltd is raising Rs.825 crore to buy back debentures issued to Deutsche Bank. Analysts believe Lodha risks losing prime land in Mumbai if it doesn’t purchase the debentures.
Realtors have been adding Rs14 crore debt a day
The debt load of 11 listed real estate companies in the country has risen 15%, or by Rs.5,000 crore, to Rs.38,500 crore in the last 12 months.