CHD Developers has acquired Empire Realtech, a company holding about 12.34 acres of land at Sector 106 in Dwarka Expressway, Gurgaon. This land is licensed and has all approvals in place. CHD Developer acquired entire shareholding of Empire Realtech, pursuant to which it has become a wholly owned subsidiary of CHD Developers Ltd.
The annual monsoons have always been perceived both as a rural blessing and an urban curse – they are good news for the agrarian sector and the bane of water-logging prone cities. However, this caricatured mind-set is breaking.
Quality has suddenly become the buzzword in the realty sector to tide over the unprecedented crisis meet with the uncertain times ahead. Builders are now hiring quality surveyors, construction project manager, energy efficiency specialists and others who can get them quick buyers.
The Bangalore-based publicly-held Sobha Developers has said its sales realisation has gone up 26 per cent on a year-on-year basis while the sales volumes have gone up 25 per cent. On a sequential basis, the realisation is up 7 per cent while the sales being marginally down.
The unprecedented restructuring of project portfolio, selling of land bank, exiting non-core business and the job cuts have yet not led the Indian real estate into the desired comfort zone. The realization to shed the flab has on the contrary left some of the developers to outsource the project execution and pay more.
Dewan Architects & Engineers, architecture and engineering consultancy firm, has drawn up an ambitious plan to expand its footprints in the Indian realty business. The company recently announced its venture into the burgeoning Indian real estate market, in a move that comes as part of Dewan’s strategic expansion plans to reach out to more markets in South East Asia.
Realty sector may appear to be bullish and project that downside is over with rosy forecast ahead, yet the decline in fortune is far from being over. As a matter of fact, the learning in the last four years has made most of the leading players to restructure their project portfolio and shed the flab.
Revenues of top-25 realty companies declined 9.30% in Q4FY12, mainly on account of low sales off-take due to higher prices and higher mortgage rates, says a Knight Frank India Research on Economy and Realty at glance. The study says the Realty Index on Bombay Stock Exchange (BSE) has dropped by more than 26% during the last one year compared to a 10% fall in the Sensex during the last fiscal year.
Below the line marketing company Theme Ventures has signed a group of well-known real estate companies in Mumbai to sell the residential properties directly to the corporate employees by setting up shops inside the large work premises, the news reports said.
Disney Consumer Products India, the licensing & merchandising arm of The Walt Disney Company India, has done its first licensing deal in the real estate sector with Mumbai-based real estate company Sunteck Realty to launch Disney Inspired Homes in Goregaon, the Northern suburb of Mumbai.