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September 22, 2012

Realty takes corrective measures ahead of festive season after Track2Realty survey finds no takers for new launches

Track2Realty Impact: When Track2Realty pan-India survey said it in May this year that Indians prefer to pay more for ready-to-move property and find new launches risky, the sector was obviously not amused. CREDAI President Lalit Kumar Jain had differed with the Track2Realty survey findings in an interview with Tehelka and said that “ready-to-move-in flats comes at a premium rate and the availability of such in the country is currently just 5 per cent.”

Finance

September 19, 2012

Real estate in Bihar soars despite rate uptrend

Track2Realty: Real estate in Bihar with most of the cities termed as tier-II and III by many of the developers till late, has bucked all trends of slowdown to soar as one of the most promising real estate market. It is not just the new trend of apartments that is catching fancy of the prosperity that is noticeable in many of the urban areas, but even the land rates still continue to soar.

Finance

September 17, 2012

Realty welcomes rate cut with guarded optimism

Realty sector has welcomed the the RBI’s decision of slashing the CRR rates by 25 basis points to 4.50% with a guarded optimism. The statement from the Prime Minister’s Economic Advisory Council (PMEAC) that the RBI move to infuse liquidity in the system is “more potent” than a cut in interest rate and it will help banks expand credit portfolio seems to have few takers in the sector.

Company News

September 17, 2012

Competition Commission closes case against Taneja Developers

The Competition Commission of India (CCI) has closed the case against Taneja Developers and Infrastructure (TDI) related to allegations that the company was abusing its dominant position in the real estate segment in Mohali.

Finance

September 17, 2012

Realty sector welcomes CRR cut, but wants lower rates

The real estate industry today expressed hope that a part of Rs 17,000-crore worth liquidity infused by RBI into the financial system would flow into the realty sector.

Finance

September 17, 2012

Realty cash crunch may end soon as govt sends positive signs

Sending positive signs from easing the cash crunch for the realty sector, Secretary for Financial Services D K Mittal on Monday, Sep 17, asked the commercial banks to focus on funding partially completed projects on a priority basis and development of projects in small towns.

Headlines

September 16, 2012

Finance Ministry to meet bank chiefs today to discuss realty lending

The Finance Ministry will meet chief executives of leading banks today, Sep 17, to discuss credit flow to the real estate and housing sectors. According to sources D K Mittal, Secretary of Financial Services, will chair the meeting of bankers, which will take stock of credit flow to the sensitive sectors.

Finance

September 14, 2012

Realty welcomes retail FDI decision

The government’s decision to operationalise FDI in multi-brand retail would help the realty sector as the move would create demand for retail space and boost mall development in the country, real estate developers and property consultants said.

Company News

September 13, 2012

70 real estate companies under CCI scanner for one-sided agreements

The Competition Commission of India (CCI) is reported to have zeroed in around 70 real estate developers around the country, including Unitech, Parsvnath Developers, and Omaxe for investigation against entering into one-sided agreements with buyers and for allegedly colluding with each other to arm-twist them.

Reports

September 13, 2012

Bank loans to real estate drops sharply

Banking institutions have cut down on their lending to the real estate sector, according to a report put out on Wednesday by real estate consulting firm Knight Frank India.

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