While the Indian realtors have often cribbed on the issue of under representation of the sector in respective budget, they have seldom admitted the fact that the real estate has been a divided house over their wants and needs. Navin M Raheja, MD, Raheja Developers suggests a way out and asserts that tax sops given to real estate will actually increase the government revenue.
DLF Limited, India’s largest real estate company, recorded consolidated revenues of Rs 2,594 crore for the quarter ended December 31, 2010, an increase of 21% from Rs 2,151 crore in the Q3FY10. EBIDTA stood at Rs 1,292 crore, an increase of 33% as compared to Rs 969 crore in the corresponding period last year. Net profit was at Rs 466 crore, as compared to Rs 468 crore in Q3FY0. The non-annualised EPS for the quarter was Rs 2.74
Confederation of Real Estate Developers’ Association of India (Credai), on Saturday, announced that it would be organising ‘Southcon 2011’ —South India’s first real estate development conference on February 4-5 at Hotel Lalit Ashok.
Don’t wait for the right time to buy a house expecting a price correction, say seven out of ten home buyers who are on house hunting. Contrary to the price correction reports, the property search of prospective buyers and sellers across the country have convinced them that cheaper house in 2011 are a fancy and wishful thinking. At least those who have done their home work on property search are pretty sure about it.
As world business and political leaders today convene at the World Economic Forum Annual Meeting 2011 in Davos, Switzerland, Jones Lang LaSalle Chief Executive Officer Colin Dyer is speaking on four commercial real estate trends that are emerging as dominant forces supporting the global economic recovery in 2011.
Century Real Estate Holdings, the realty development arm of three-decade old Bangalore-based Century Group, is looking to raise Rs 700 crore through private equity players in three tranches. The company during the past four years have been focusing on development of projects, is understood to be effecting this deal at the holding company level.
Vigneshwara Developers is developing a ten-acre business-cum-technology park for the Haryana State Industrial & Infrastructure Development Corporation (HSIIDC) within the 150-acre technology corridor at Manesar in Gurgaon.
Atul Modak, City Head of Kohinoor Group of companies says they are bullish on the Mumbai realty market and have a couple of residential and commercial launches coming up this year. In an interview with Ravi Sinha, he wondered that in a market where input costs are going sky high, how can the market go downwards?
The world’s largest and Mumbai’s oldest Red Light District ‘Kamathipura’ known for its kothas that is brothels engaged in flesh trade is now turning golden with the increasing interest of the real estate developers there. Thanks to the Mumbai police that the increasing pressure on brothels under the Immoral Traffic Prevention Act have compelled the operators to shut the brothels and move to suburban area like Navi Mumbai for resettlement; making way for the real estate developers to plan out commercial complexes in the area.
Through a hailstorm of bouquets, brickbats, controversies and triumphs, the Indian real estate sector has always been one of the mainstays of the country’s economy. At some level, every Indian is connected with it; in some way or the other, it affects every citizen of this country.