Since the hospitality sector was previously considered a part of Commercial Real Estate (CRE) and was subject to the same risk exposure, the cost of such debt was high. In September 2009, new guidelines on CRE released by the Reserve Bank of India, asserted that the hospitality sector would no longer be treated as a part of CRE and risk exposure would be based on the profile of the borrower and the nature of the project.
Unitech has told Company Law Board (CLB) that its dispute with Norwegian firm Telenor over their joint venture Uninor was fit case for arbitration.
Godrej Properties will redevelop 18 residential buildings in Chembur, Mumbai. The Company, through its wholly owned subsidiary Godrej Projects Development Private Limited (GPDPL), entered into an agreement dated January 18, 2012 with Kamla Landmarc Property Leasing and Finance Private Limited (Kamla) to undertake a residential redevelopment project in Sahakar Nagar, Chembur, Mumbai.
DLF Brands, a subsidiary of DLF Ltd, has aggressive plans to expand its retail business by introducing more international brands into India, besides opening at least 50 new outlets every year in the country.
Godrej Properties’ stock offering to raise up to $90 million received bids for 18 percent more than the shares on offer, boosting the outlook for a newly approved process that companies can tap to cut founder stakes.
Hiranandanis have roped in Cherie Blair, the wife of former British Prime Minister Tony Blair and a Queen’s Counsel (QC), as an arbitrator for a Rs 1,400-crore dispute in the family. The other arbitrators are another QC and former Delhi High Court Chief Justice A P Shah. The panel is expected to solve by June the scrap between brother and sister, who are both high-fliers in their own right.
SARE Homes (South Asian Real Estate) has launched ‘Petioles’, privacy apartments with Gurgaon’s first luxury private Sky Deck in Gurgaon, Sector 92. Developed on a sprawling 48-acre integrated township, Petioles claims to be Gurgaon’s first luxury private ‘Sky Deck’ consisting of a viewing deck, yoga and meditation zone, viewing deck, water wall and putting green.
In a major reshuffle, Dubai-based real estate developer Emaar Properties on Monday recommended a new board increasing the strength of members to 11 from the present eight.
Hyderabad continues to be a favoured destination for investments due to its unique infrastructure, and real estate prospects are promising despite the Telangana agitation.
During the year 2011 when almost all other matured property market witnessed dip in transaction and price correction was on everyone’s lip, Bangalore registered both healthy transaction as well as upward price movement.