In the country’s commercial capital, Mumbai, over a dozen large developers and double their number of smaller ones are selling office properties as well, according to Ashok Kumar, Principal and Managing Director of Cresa Partners, a corporate realty services firm.
High property prices coupled with continued increase in home loan interest rates over the last six months and inflationary pressures will keep transaction activities restrained.
Mumbai’s residential home sales dropped to a three-year low in the quarter ended December as record home prices and higher interest rates crimped demand, according to Liases Foras Real Estate Rating & Research Pvt.
The Godrej Properties’ Board of Directors has announced Pirojsha Godrej’s appointment as Managing Director and Chief Executive Officer of Godrej Properties Limited (GPL) with effect from April 1st, 2012.
Brigade Group has announced its mega integrated project – Brigade…
Indian developers will borrow about $1 billion from private equity funds this fiscal year at rates higher than banks, which are cutting loans to builders, Knight Frank assessment suggests.
Rising cost and falling transactions are taking their toll on the property market in both the Delhi-NCR and Mumbai.
The combined net debt of India’s 11 listed developers rose 15 percent in the 12 months through June to 385 billion rupees, according to Mumbai-based Edelweiss Securities Ltd.
The Indian real estate sector has grown rapidly over the last few years, with its stakeholder profile evolving from locally-focused, privately-owned enterprises to increasingly corporatized, professional organizations funded with public capital and having multiple market and product strategies.
Amidst the turbulence of many of the world’s largest economies, particularly in western markets such as the US and European economies, the broader macro economic outlook in Asia is encouraging.