The Comptroller and Auditor General of India (CAG) has taken a strong objection to the military authorities in Karnataka who have permitted unauthorized use of defence land for constructing shopping malls and halls in gross violation of rules and without sanction from the Defence Ministry.
Indian buyers usually pay for apartments before construction has been completed. Many buyers do not take out mortgage loans (the ratio of housing loans to GDP is less than 5% in India).
Corporate confidence is boosting activity in top tier office markets around the world, leading to accelerating early cycle rental growth and robust capital value growth in prime assets, especially where new quality supply is limited, according to Jones Lang LaSalle’s inaugural, quarterly Global Office Outlook report.
The finance ministry has asked the central bank to bar real estate firms from seeking banking licences and alter conditions relating to financial inclusion and stake dilution by promoters.
Dubai International Financial Centre (DIFC) and Absalon Project, a joint venture between affiliates of VP Securities and Soros Fund Management, have launched a feasibility study for a mortgage system in the UAE, based on the principles of the Danish Mortgage Model.
The impending closure of the financial year has the listed real estate developers scurrying to make final repayments or get debt refinanced.
Four years after Singapore-based Ascott Ltd, a serviced residence operator, entered India, it has decided to part ways with its local partner in a bid to speed up expansion plans and have more control over its proposed projects.
Real estate has emerged as the most preferred investment avenue for working professionals in non-metro centres vis-à-vis bullion and stock market.
Stocks of real estate companies suffered widespread losses on the BSE today dragging down the sectoral index by 3.14 per cent on all-round selling by funds on fears of rate hike by RBI to curb inflation.
Real estate and construction has been voted as the most corrupt sector in India, according to a survey by global consultancy firm KPMG.