Track2Realty-Agencies: Real estate firms, including market leader DLF, are taking a contrarian view on preferred route for selling promoter shares, as they are opting for Institutional Placement Programme (IPP) as against the much sought-after Offer For Sale (OFS) mechanism.
Track2Realty: The Reserve Bank of India (RBI) has released final guidelines for issuing new bank licences on Friday. This will pave a way for corporate houses to enter the banking sector.
Track2Realty Exclusive: Most of the real estate analysts believe the year 2012 has been pretty disappointing and actually a waste. Anshuman Magazine, CMD of CB Richard Ellis (South Asia), however, feels it was better than expected. He asserts when the global economy is down and the Indian GDP continuously nose diving, any movement is a positive indicator. In an Exclusive Interview with Track2Realty Magazine talks about the learning of the year and sounds cautious with the prospects of the year ahead.
Track2Realty-Agencies: After some neglect in the past several years, the realty industry in India finally saw some reforms that had a direct and indirect impact on its fortunes and which led to the some development of the sector in 2012. The prospect of a revival looks brighter once the central bank keeps it promise of cutting interest rates to spur overall growth.
Track2Realty-Agencies: The government should take steps to monetize under-utilized land resources of public sector enterprises, port trusts and railways, a panel set up to chart out the roadmap on fiscal consolidation has recommended.
Century Real Estate has reportedly raised Rs 40 crore from Reliance Capital and will raise another Rs 160 crore from the Anil Ambani promoted firm for its upcoming residential projects. According to reports the deal was closed last week and will be a structured transaction, which includes private placement of non-convertible debentures (NCD) and equity component.
Godrej Properties (GPL) has announced creation of a residential development platform with Rs. 770 Crore of equity commitments comprising of a group of global investors led by Dutch pension services provider APG, one of the largest pension fund managers and real estate investors in the world. The investor group also includes Sparinvest Property Fund II, a global real estate fund-of-funds managed by Sparinvest Property Investors.
Spiraling property prices and slump in home sales have forced the Union Housing Ministry to think out-of-the-box solutions. After the decision to set up a high-level committee to recommend policy interventions to facilitate creation of rental housing stocks, the ministry has now sought views from private developers and builders to evolve a strategy for reducing the time taken in approval of real estate projects that can help bring down the cost of houses.
American property mogul Donald Trump targets India above other emerging economies, his son and business partner said, as the flamboyant tycoon looks to crack a notoriously tough real estate industry with his brand of luxury homes and hotels.
Godrej Properties’ stock offering to raise up to $90 million received bids for 18 percent more than the shares on offer, boosting the outlook for a newly approved process that companies can tap to cut founder stakes.