China deflating realty bubble
Chinese officials are blaming the speculators for soaring property prices and have announced to build 36 million affordable homes over the next five years.
Chinese officials are blaming the speculators for soaring property prices and have announced to build 36 million affordable homes over the next five years.
Surging growth in emerging markets such as China and India will boost demand for real estate, although uncertainties such as an oil shock could pose major risks, economist Nouriel Roubini said on Thursday.
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.
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.
Jones Lang LaSalle has been named as one of the world’s top 100 outsourcing providers as part of the 2011 Global Outsourcing 100, the annual ranking of high-quality service providers across all industries as determined by the International Association of Outsourcing Professionals (IAOP).
Public sector banks including State Bank of India, Bank of Baroda, Bank of India, Indian Overseas Bank have served notices to dozens of real estate companies to recover around Rs 20,000 crore of their exposure by March.
Value and Affordable housing remains a segment where government should definitely continue to provide developers with tax free status which was available earlier. Rather than restricting it to unit sizes as in the past of 1,000 / 1,500 sft per housing unit, the government could instead have a maximum per unit value of say Rs. 15 lakhs for units near Tier I Cities, Rs. 10 lakhs for Tier II Cities.
Chicago-based Vestian Global Workplace Services, an integrated real estate services provider has announced to invest Rs 1,500 crore in India and China over the next 18 months. The company, which raised the fund from global investors, said about 70 per cent of the proposed investment was earmarked for the Indian market.
Real Estate Development, Investment and Advisory firm Netz Realty is launching townships near Mumbai and Bangalore. The Singapore based Netz Capital backed firm Netz Realty is launching Green Township projects on the model of self sustainable living for the 100 acres plus projects being planned near Mumbai and Bangalore.
U.S. billionaire real-estate developer Donald Trump is entering the Indian realty market with a luxury residential tower in Mumbai, more than two years after announcing plans to expand in the south Asian nation. Trump, who has partnered with Mumbai developer Rohan Lifescapes Pvt. for his first venture in the country, expects to start marketing the project by March, said Donald Trump Jr., Trump’s son and executive vice president at the Trump Organization LLC.