The Noida Extension land acquisition fracas was all about the authorities allowing developers to acquire land at considerably low prices from farmers and also changing the planned use pattern from industrial to residential. Farmers revolted and were able to gain wide support from different quarters.
According to the latest RICS India Commercial Property Survey, sentiment in the Indian real estate market has been adversely affected in the second quarter, as the economic picture in the country continues to remain bleak with the declining value of the rupee and growth forecasts being revised lower, along with a deteriorating global climate.
Sahara Group, ICICI Bank, Bhushan Steel, Bharti Realty, Red Fort Capital and Shri Lal Mahal are understood to be in the race among others to acquire Parsvnath Developers’ 1.18 acre of prime commercial land near Connaught Place in the National Capital.
Peninsula Land and Canada based Brookfield Asset Management have formed a 50:50 JV to launch a real estate fund for investments in India.
CREDAI has opposed the proposed Land Acquisition and Rehabilitation & Resettlement (R&R) Bill, and said with proposed R&R to the farmers the construction industry would become an unviable proposition.
Indian commercial property market has lost momentum in Q3 with the capital values turning negative for the first time since 2009.
The fate of housing projects on nearly 5000 hectares of land in the NCR hangs in balance as the Allahabad High Court is scheduled to give its verdict today on the 491 petitions against land acquisitions in Noida and Greater Noida.
In one of the decade’s largest real estate deals in Kolkata, Ambuja Realty has acquired the RMZ block of Ecospace Business Park in New Town, Rajarhat, Kolkata.
The Indian real estate market has matured to the extent that it is seen as the best investment instrument, leaving behind gold and other traditional investment options.
In a letter addressed to the Government of Goa on 15/3/2011 Airport Director, Goa, AAI pleas that the Government of Goa may kindly consider proceeding with the land acquisition in respect to Survey No 8/1 in view of the inescapable and imperative requirement of the area for airport development.