Overseas realty funds drying up
With only $400-500 million of foreign funds flowed into the Indian real estate sector in 2009-10, the outlook ahead seems to be far from being rosy.
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Four realtors get sanctions for bank loans
At least four firms, Ansal Properties and Infrastructure Ltd (Ansal API), Emaar MGF Land Ltd, Kumar Urban Development Ltd and Paranjape Schemes Constructions Ltd, have received fresh sanctions from banks, although overall lending to the sector remains subdued.
Mixed Bag for Realty: Boman R Irani, CMD, Rustomjee Group
For the Union Budget 2011-12, rising inflation, tight liquidity, high interest rate, industrial slowdown, delayed reforms and negative market sentiment were some of the key concerns to address.
A tie budget; not won, not lost, say realtors
Real Estate developers across the country have termed the Union Budget 2011-12 as a tie cricket match which can’t be termed as won or lost. However, they are all unanimous that it is not a game changer budget for the sector.
Happy with the governments focus on affordable housing: Kamal Khetan, Chairman & MD, Sunteck Realty
We are happy with the governments focus on affordable housing. Loan amount that qualifies under priority sector lending. Now, a home loan of Rs. 25 lakh would qualify as priority sector lending.
Realtors sulk under representation in budget; see no end to it
Real Estate may boast off to be the second largest economic activity and the largest employment provider in the economy, but when it comes to have a say in the policy making, they are found to be sulking.
Omkar Realtors launches The Summit – Business Bay
Omkar Realtors & Developers Pvt Ltd has launched its second project in Andheri East ‘The Summit – Business Bay’. This business centre offers small, flexible & self-contained office spaces starting at 994 sq. ft. The grand single tower infrastructure soaring high on connectivity and accessibility is characterized by 13 floors of office space spread over 5 lakh sq ft.
Pune Home Department reconsidering land deal with DB Realty
In a change of stance, the state home department has decided to look into its own move to shift out the Yerawada police station on the Pune-Ahmednagar road and allow commercial exploitation of the three-acre plot on which it stands.
Guarantee corpus for realty lending in budget
The cash strapped realty companies can have a breather in budget for 2011-12 as the Finance Minister is expected to make announcement of a guarantee corpus for banks on realty lending. Track2Realty has learnt that the banks will get this guarantee corpus of Rs. 1000 crore to lend for housing projects.
Nitesh Estates launches Rs. 500 crore Shopping Mall in Bangalore
Within a week of launching the super-luxury Nitesh Logos, Bangalore-based premium property developer Nitesh Estates Ltd., now announces the launch of Nitesh Mall, in the up-market Indiranagar. This mall built with world-class amenities is going to offer great shopping and entertainment experience, making it the most sought after mall in the Central Business District of Bangalore.