
Real Estate & NBFCs drive loan growth
Banks have experienced strong demand for loans from the real estate sector and non-banking finance companies (NBFCs) during the year till February, shows the latest data released by the Reserve Bank of India.
Banks have experienced strong demand for loans from the real estate sector and non-banking finance companies (NBFCs) during the year till February, shows the latest data released by the Reserve Bank of India.
Sandland Real Estate Pvt. plans to build a 25-megawatt solar power plant in Gujarat.
After a one-year period starting 3Q 2009, which saw a strong recovery with a record 40%+ increase in prices, the Mumbai residential real estate market has been seeing a slowdown over the last two quarters across various micro markets.
This week has been a good one for investors in real estate shares, who had seen their investments lose 30%-55% in value over the past six months in the wake of a number of corruption allegations involving the sector.
It’s been a weak start to the year for the Mumbai real estate market with the number of property sales registered in India’s financial capital continuing to fall for the second consecutive month.
Terming stamp duties as a “big obstacle” in ensuring transparent transactions in real estate, Prime Minister Manmohan Singh on Friday batted for reducing such levies to check the flow of black money in the sector.
Real estate has emerged as the most preferred investment avenue for working professionals in non-metro centres vis-à-vis bullion and stock market.
Minister of Housing and Urban Poverty Alleviation Kumari Selja said in the Rajya Sabha the Real Estate (Regulation of Development) Bill is still being deliberated.
Tata Realty Initiatives Fund-I, managed by Tata Realty and Infrastructure Ltd, has bought over Kotak India Real Estate Fund-I, a $100 million (Rs.450 crore) fund managed by Kotak Realty Fund in Peepul Tree Properties Pvt. Ltd for Rs.385 crore.
It would seem that the Union Budget 2011 pointedly ignored the larger issues affecting the Indian real estate sector at this sensitive stage of revival and growth.