Minister admits government missed real estate growth opportunities
Urban Development Minister Kamal Nath admitted today that “the government has not responded to the tremendous growth in the real estate sector in the last one decade appropriately”.
Urban Development Minister Kamal Nath admitted today that “the government has not responded to the tremendous growth in the real estate sector in the last one decade appropriately”.
Indian arm of a leading Bangkok based developer is looking to invest some $300 million in the country’s real estate market, particularly in the major cities of Delhi, Mumbai and Bangalore.
A two-day exhibition featuring 45 property developers from major cities of India is being held at Regency Halls on Friday and Saturday.
India’s real estate stocks have attractive valuations after plunging 83% from their peak and are likely to rebound within two years, according to Macquarie Group.
The period ending 1Q11 witnessed moderate activity in the office market in the city. With CBD vacancy rates continuing to hover at around 1%, office transactions were limited to either small office queries or larger office spaces that were inevitably a churn in the existing stock.
Hospitality firm Lemon Tree Hotels is foraying into real estate, with plans to invest over Rs.1,400 crore, to launch housing projects in India in partnership with US-based investment firm Warburg Pincus.
A day after its Managing Director Vinod Goenka was arrested in the 2G spectrum scam case on Wednesday, the controversial Mumbai-based real estate company DB Realty inducted his father, K M Goenka, as a Non-Executive Director.
Luxury real estate developer M3M India has appointed L&T to build the 7-star Luxury Residences – M3M Golf Estate.
Nearly four years back when the real estate market was at its peak all the developers tried to diversify into other greener pastures.
The Income-Tax department is planning to look into all suspected real estate deals to check involvement of black money component and tax evasion.