The festival of Diwali has a direct bearing on the property market, and irrespective of the overall macro economic scenario the property transactions around this time of the year have been the maximum.
The latest interest rate hike by the Reserve Bank of India (RBI) is bound to push up the price of housing loans as well as the residential apartments.
In a further blow to the dampened Diwali spirit of the realty sector, the RBI raised interest rates on today but said it was likely to hold off on further increases as it expects high inflation to ease beginning in December.
Though the developers have hailed the Allahabad High Court’s judgment on Greater Noida land acquisition, they said existing flat buyers will be immune to higher compensations to farmers.
The Company Law Board (CLB) has issued notices to Unitech and its associates on an arbitration plea filed by its foreign partner Telenor with regard to dispute over the rights issue of Uninor.
It may surprise to many, but the fact is that the housing finance sector has steadily and consistently been posting impressive growth, despite the numerous challenges in the sector.
The Andhra Pradesh Government will take all steps to ensure that Hyderabad’s real estate industry bounces back to normalcy soon, said Chief Minister N Kiran Kumar Reddy.
The level of FDI in the real estate sector is unlikely to show a quantum jump this year, courtesy a slow GDP growth rate, high debt levels of the real estate developers, labour shortage and economic crisis in the US and Europe.
Less launches, pragmatic marketing, innovative packages, product bundling and online brand promotion, the real estate developers in Mumbai are leaving no stone unturned to beat the inflationary pressure.
Mukesh Ambani has sold his plush 21-storey building in the commercial district of Nairobi to the World Bank for nearly $23 million (approx Rs.115 crore), making it the largest single property deal in East Africa.