Omaxe has reported a more than two-fold jump in its consolidated net profit at Rs 23.73 crore for the quarter ended March 31, 2012 as against Rs 11.67 crore in the year-ago period.
The income from operations increased by six per cent to Rs 603.58 crore in the fourth quarter of 2011-12 as compared with Rs 568.60 crore in the corresponding period of previous year.
Parsvnath Developers has reported a net loss of Rs 23…
Being blamed for being a haven for black money cartel, realty players broke their silence and instead tried to put the blame on the government for not introducing the desired reforms in the sector. However, they did not spell out if reforms are prerequisite to check the cartel of black money in the sector, why are they opposing the realty bill and a regulator.
The world’s housing markets moved clearly down during the year to the first quarter of 2012, according to the Global Property Guide’s latest house price indices survey. House prices fell in 24 countries, of the 36 countries for which quarterly house price statistics are available, and rose in only 12 countries.
Integrated townships can reduce the burden on infrastructure and provide a fulfilling lifestyle for buyers, at a much reduced cost all round. Gulam Zia, National Director – Research & Advisory Services, Knight Frank India points out, “Of late, the planning authorities and Government bodies have realised the importance of integrated townships and are giving special concessions for creation of such townships.
The Indian banks have been hit the worst with the downturn of the real estate sector. Even after restructuring the loans to the developers, they have a collective deficit of Rs. 7 lakh crore. With spiraling input costs & property prices, demand in the real estate sector has been on a steady downfall. Given the declining demand, it is is unlikely that the real estate companies will be able to repay their bank loans, especially since banks are the only source of funds for the sector.
Sahara India today announced it would develop a new city near Dhaka called Notun Dhaka and has signed agreement with the Bangladesh government to invest in housing sector of neighbouring nation.
The anti-monopoly regulator Competition Commission of India (CCI) has dismissed the plea of two individuals against the realty company Unitech alleging that Unitech failed to fulfill its obligation by not handing over the possession on time and therefore violated section 4 of the Competition Act (2002) by abusing its dominant position.
What goes into the strategic planning of an integrated township to make it a case study in flagship project? One such integrated township in Mumbai is Kohinoor City at Kurla Vidyavihar. Atul Modak, Head of Kohinoor City says, “What we considered was the need to provide plenty of recreational space and all ultra-modern amenities. It truly had to be a ‘city’ where all their needs and luxuries could be met.
Asia Pacific Office market report by Cushman & Wakefield – that compared the rental values of Central Business Districts (CBD) across Asia Pacific – ranks NCR as the 5th most expensive CBD location in the region while Mumbai – CBD ranked 10th most expensive location in APAC. Traditionally expensive office destinations of Hong Kong, Singapore and Tokyo (continued to hold the top three positions respectively.