Even as global economic slowdown and uncertainty in financial markets have battered the real estate industry countrywide, properties in Kolkata and Chennai bucked the trend with steady demand in affordable and mid-segment housing.
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.
Morgan Stanley Real Estate Investing Managing Director Naresh Naik has resigned to set up a real estate fund house that will invest exclusively in India.
Investment Corporation of Dubai (ICD), a financing arm of the government, and Brookfield Asset Management have agreed to jointly sponsor a real estate fund with $100 million in seed money to focus on the domestic market.
The festival of Diwali has a direct bearing on the property market, and irrespective of the overall macro economic scenario the property transactions around this time of the year have been the maximum.
In a further blow to the dampened Diwali spirit of the realty sector, the RBI raised interest rates on today but said it was likely to hold off on further increases as it expects high inflation to ease beginning in December.
It has been quite some time that Mamata Banerjee took over the rein of West Bengal after 34 long years of Left Front rule.
The much awaited and largely discussed Real Estate (Regulation & Redevelopment) Bill, pending since 2009, is finally been ready and the Government plans to introduce it in the winter session of Parliament after getting Cabinet approval.
As the realty major DLF moves the Compat to challenge the CCI penalty of Rs.630 crore, the real estate sector will soon get an answer as to whether their business falls under the service sector.
The Andhra Pradesh Government will take all steps to ensure that Hyderabad’s real estate industry bounces back to normalcy soon, said Chief Minister N Kiran Kumar Reddy.