Indian real estate majors, DLF and Unitech, are set to miss their FY11 sales target, despite prices reaching the highs of 2007. Mid cap names like HDIL, Ackruti City and Sobha Developers are however on track to meet their targets.
Chennai-based real estate developer True Value Homes is planning to invest Rs.800 crore over the next three years to develop around 12 projects, majority of which will be in the residential segment.
Indians are emerging as among the most active buyers of property in Britain, according to a report in local British media.
Mumbai-based RCSPL, which owns group buying portal for real estate GrOffr.com, has acquired Mobstreet.in, a company which was officially shut down in December 2010 due to lack of funds.
It’s been a weak start to the year for the Mumbai real estate market with the number of property sales registered in India’s financial capital continuing to fall for the second consecutive month.
Dubai International Financial Centre (DIFC) and Absalon Project, a joint venture between affiliates of VP Securities and Soros Fund Management, have launched a feasibility study for a mortgage system in the UAE, based on the principles of the Danish Mortgage Model.
The concept of international, standardized luxury floor space must evolve further before India can absorb the demand. Developers must come up with more imaginative ideas of differentiating their luxury malls from the run-of-the-mill.
With government support and increase in number of real estate developers, affordable housing demand will surge at a CAGR of around 13% during 2011-2013, says a research report by RNCOS a thinktank group on industry intelligence and creative solutions for contemporary business segments.
The impending closure of the financial year has the listed real estate developers scurrying to make final repayments or get debt refinanced.
Four years after Singapore-based Ascott Ltd, a serviced residence operator, entered India, it has decided to part ways with its local partner in a bid to speed up expansion plans and have more control over its proposed projects.