The Indian realty estate companies reeling under plunging sales and liquidity issues have something more challenging to negotiate-the piling debt in their balance sheet and the banks’ deadline to repay coming close.
The anticipated demand is likely to exert an upward pressure on property prices especially in markets like NCR, Mumbai and Bangalore where the demand-supply gap is high.
A Knight Frank report suggests revenues of real estate companies have dropped by 19 per cent and profits have declined by 70 per cent, over the past four financial years, since 2007-08.
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.
Peninsula Land and Canada based Brookfield Asset Management have formed a 50:50 JV to launch a real estate fund for investments in India.
Maharashtra Chamber of Housing Industry (MCHI), is organising its Property Show in Dubai, U.A.E. from January 12 – 14, 2012.
Mumbai-based Omkar Realtors & Developers has awarded construction contracts worth Rs.579-crore to Larsen and Toubro (L&T) for three of its SRA projects.
Morgan Stanley has named Shirish Godbole as the head of its global real estate investment fund in India.
Zandu Realty has struck a deal with Sheth Developers to rebuild erstwhile herbal healthcare firm Zandu Pharmaceutical Works’ headquarters in Mumbai’s Dadar neighbourhood into a 2.7-acre commercial complex.
RICS has released its research report ‘Real Estate and Construction Professionals in India by 2020’.