Unlisted real estate firms more hit by piling debt
While the piling debt of the listed real estate companies has hit the headlines throughout the year 2011, the debt of the unlisted realty companies today stands at Rs.15 trillion.
While the piling debt of the listed real estate companies has hit the headlines throughout the year 2011, the debt of the unlisted realty companies today stands at Rs.15 trillion.
The real estate sector in Punjab is likely to witness sluggishness in the run up to Assembly elections in the state next month.
Mumbai-based Omkar Realtors & Developers has awarded construction contracts worth Rs.579-crore to Larsen and Toubro (L&T) for three of its SRA projects.
Battling huge vacancies, piling inventories and lacklustre rentals, the Indian real estate is looking forward to retail FDI as a savior, expecting a windfall following the entry of global giants looking for more retail space for expansion.
The Reserve Bank of India (RBI) has pointed out banks’ disproportionate growth in loans to the commercial real estate sector, the retail segment and the infrastructure sector.
When the CCI alleged that DLF misused its dominant market position and imposed unfair conditions on home-buyers of two of its many projects, the real estate fraternity, legal experts and others strongly questioned the basis of the CCI order.
The RBI on Thursday, Nov 3, asked banks to bring in a disclosure clause under which commercial real estate players will also have to mention in their advertisements the name of the bank to which a property has been mortgaged.
The organized segment of Indian real estate is only about two decades old. It could be seen as understandable that true governance is too much to ask at this early point.
The Indian real estate market has matured to the extent that it is seen as the best investment instrument, leaving behind gold and other traditional investment options.
Private equity investment in India’s real estate sector declined by around 20.2% to $831 million (about Rs.3,740 crore) in the first five months this fiscal due to sluggish demand.