Ascendas set to raise $350 mn
Ascendas India Development Trust (AIDT), the India-focused real estate fund floated by Singapore-based office space developer, is looking to raise close to $350 million.
Ascendas India Development Trust (AIDT), the India-focused real estate fund floated by Singapore-based office space developer, is looking to raise close to $350 million.
Nearly four years back when the real estate market was at its peak all the developers tried to diversify into other greener pastures.
Indian real estate is expected to face “large-scale distress” amid rising borrowing costs and shrinking access to credit that may force developers into fire sales for assets, according to Knight Frank.
Faced with the non-compliance by the real estate companies, Brand Capital, earlier known as Times Private Treaties, the ad-for-equity business of publishing group Bennett, Coleman and Co. Ltd (BCCL), has hired real estate consultant Knight Frank India Pvt. Ltd to manage its real estate portfolio.
The State Bank of India has finally put an end to its most innovative and wildly successful home loan scheme from May due to concerns raised by and under pressure from the Reserve Bank of India.
On 11 March, a major earthquake and tsunami hit Eastern Japan. According to official statistics, the number of deceased had surpassed 13,000 as at 14 April.
A Nagpur-based real estate developer Gopal Kondawar has sought action against former civil aviation minister Praful Patel squarely blaming him for pushing the national carrier to bankruptcy.
The Income-Tax department is planning to look into all suspected real estate deals to check involvement of black money component and tax evasion.
The Bombay Stock Exchange on Monday said that it has excluded Indiabulls Real Estate Ltd from both the BSE 100 and BSE 200 indices and replaced it with Coal India.
The Sensex has always been a barometer of the country’s general economic ‘mood’. The real estate index, on the other hand, is an indicator of the sentiments towards real estate developers.