Tata Realty and Infrastructure Ltd (TRIL) is planning to raise two India-focused realty funds, including a $500 million international fund and Rs 300 crore ($55 million) domestic fund, according to reports in a section of media.
In the biggest realty deal in the country this year, DLF Monday announced sale of 17 acres of prime land in Mumbai to Lodha Developers for Rs 2,700 crore, almost four times higher than the price it had paid in 2005.
DLF’s Chairman K P Singh has said that RBI’s monetary policy should not stunt the growth of real estate sector and uninterrupted access to affordable finance is vital for this business.
DLF is in advanced stages of negotiation with Lodha Developers to sell its prime land in Mumbai for about Rs 2,700 crore and a deal is expected to be finalised shortly.
If you think prime locations in the NCR have hit the roof and you missed the dream rally in having a reasonably priced home, there is no reason to look at the secondary locations. In an expanding National Capital Region (NCR) while some of the locations deter you due to its less appreciation potential or controversies galore, then probably your property hunt has not led you to the destination next of the region—New Gurgaon.
The Hinduja Group, with a global presence in core sectors such as oil and gas, automotive, power, IT, banking and finance, today announced a major foray into the real estate sector in India involving an investment of up to $15 billion.
DLF on Sunday, July 15, said it planned to cut its Rs 23,000-crore debt to about Rs 17,000 crore in this financial year and asserted that it was not unduly “perturbed” by the massive load.
The annual monsoons have always been perceived both as a rural blessing and an urban curse – they are good news for the agrarian sector and the bane of water-logging prone cities. However, this caricatured mind-set is breaking.
DLF, has sold its entire stake in Adone Hotels and Hospitality Limited (Adone) to Kolkata-based Avani Projects and Square Four Housing & Infrastructure for Rs 567 crore. This was in line with its strategy of divesting non-core assets to pare debt, DLF said in a statement.
DLF has said its March quarter consolidated net profit fell 39 per cent on higher interest outgo and it had received an additional tax demand of Rs 457.4 crore from the Income Tax (I-T) Department for the 2009-10 assessment year (AY).