Realtors exploring alternative channel of funding
As India’s realty sector goes through a liquidity crunch with banks tightening lending norms and property sales dropping, real estate developers are turning to alternative channels of funds.
As India’s realty sector goes through a liquidity crunch with banks tightening lending norms and property sales dropping, real estate developers are turning to alternative channels of funds.
Tata Realty and M3M Developers are believed to be in the race to buy DLF’s Gurgaon plot for around Rs.400 crore.
Any residential property, even with all legal safeguards are apparently in place, is ultimately built on land. One cannot automatically assume that this land did not have previous owners.
The farmers and Noida Authority have negotiated a truce for three months under which the farmers of 54 Noida villages have given an undertaking to the Noida Authority.
Developer of a golf-themed integrated township is luring Muscat-based Non-Resident Indians (NRIs) for selling its villas and ultra-luxury plug-and-play plots in Coimbatore.
The Associated Chambers of Commerce and Industry of India (ASSOCHAM) has called for a strong and transparent regulator for the real estate sector for an orderly growth.
The Government is likely to introduce a bill in the monsoon session of Parliament to protect consumers’ interests against dubious operators in the real estate sector.
Though the Reserve Bank of India has laid out strict due diligence standards for banks for sanctioning loans to the real estate sector, industry experts believe lending to the sector will not decline.
Noida extension seems to be taking its toll. India’s largest home loan provider State Bank of India (SBI) said on Friday, July 8, it will not finance real estate projects which are mired in disputes over acquisition of land.
Private equity firm India Property Fund has picked up a 49% stake in Ramprastha Group’s housing project Skyz in Gurgaon for Rs.120 crore.