India Real Estate: Snapshot 2011
Market forces of demand and supply are the most potent determinants of price and the developments in the real estate industry during year 2011 is the latest example.
Market forces of demand and supply are the most potent determinants of price and the developments in the real estate industry during year 2011 is the latest example.
The year 2011 can best be described as a lackluster year for Indian real estate sector. There were several headwinds that prevented the sector from delivering to its full potential.
DLF is reportedly raising Rs.500 crore by sell of its stake in hotel subsidiary to Kolkata-based Square Four Housing & Infrastructure Private Ltd.
DLF has bought its partner Hilton’s 26% share in joint venture DLF Hotels & Hospitality for Rs.120 crore.
Tata Sons will reportedly infuse Rs.500 crore into the group’s real estate arm, Tata Housing Development Company, through a fresh issue of equity shares, the company sources said.
Unitech Ltd reported a 47 per cent fall in its net profit for the second quarter ended September 30 on the back of rising input cost and interest rate hike, among other factors.
Puravankara Projects has taken over the Bangalore team of the inaugural eight-city team event, the Louis Philippe Cup, according to the Professional Golf Tour of India (PGTI).
Mukesh Ambani’s wife Nita Ambani and his associate Manoj Modi joined the Board of Directors of EIH, the parent of the Oberoi Hotels chain that includes Calcutta’s Grand Hotel, on Monday, Oct 31.
While the real estate market looks subdued with the sector weathering a host of issues, this is not a good news either. DLF’s Chairman K P Singh is out of the top ten list of Forbes.
Kolkata-headquartered real estate major Ambuja Realty on Thursday, September 20, acquired the RMZ block at Ecospace Business Park in Rajarhat satellite township on the Eastern fringe of the city.