The Finance Ministry will meet chief executives of leading banks today, Sep 17, to discuss credit flow to the real estate and housing sectors. According to sources D K Mittal, Secretary of Financial Services, will chair the meeting of bankers, which will take stock of credit flow to the sensitive sectors.
Leading jewellery brand Kalyan Jewellers is planning to make a foray into the real estate market of Ahmedabad. The Rs 9400-crore company, which has 37 branches in six states of India, opened its 38th showroom in Ahmedabad on Sunday, Sep 16.
The government’s decision to operationalise FDI in multi-brand retail would help the realty sector as the move would create demand for retail space and boost mall development in the country, real estate developers and property consultants said.
Banking institutions have cut down on their lending to the real estate sector, according to a report put out on Wednesday by real estate consulting firm Knight Frank India.
Hindustan Construction Company (HCC) today said it has bagged two major contracts worth Rs 1,534 crore in various business segments including one in Jammu & Kashmir for construction of a tunnel.
In a bid to check the mushrooming growth of slums in the state, the Odisha government is planning to create rental housing at an affordable monthly rent of up to Rs 2,000 for the poor.
DB Realty has appointed Vipul Bansal as Chief Executive Officer with immediate effect. The new CEO will oversee real estate and hospitality verticals of DB Group, the company said in a release.
Realty sector in India has witnessed more than $2-billion private equity investments in the last 12 months, with investors treading cautiously, according to real estate consultancy Cushman & Wakefield.
UGL Limited has announced that its property services business, comprised of UGL Services (including the Unicco, Equis and Premas operations) and DTZ, will be united under a single global brand. Since 5 December 2011, when UGL acquired the trading operations of global real estate services company DTZ Holdings plc, the two companies have cobranded as UGL Services and DTZ.
LIC Housing Finance, a subsidiary of Life Insurance Corporation of India (LIC) plans to disburse around 8-10 percent of its total loan portfolio to developers by the end of this fiscal, a top company official said.