Demand for residential development will continue to remain unabated, but the requirement of real estate by retail industry over the next five years and even thereafter will provide a major thrust to the property market in India, said CB Richard Ellis’ global president Robert E Sulentic.
The government is keen to clean realty deals and wants to crack down on money laundering. It wants a closer look at the real estate market, widely perceived to be the biggest sink of black money in India.
Unsold, vacant, no takers…these words aptly sum up the story for real estate developers into malls in India. Even though retailers are spreading their wings once again after the slowdown, the absorption of malls remains sluggish, leading to high vacancies.
The chargesheet has been filed by the CBI against former telecom minister A Raja in the 2G spectrum scam with the leading real estate company Unitech and two others being a party to the criminal conspiracy, forgery, cheating and corruption.
Banks have experienced strong demand for loans from the real estate sector and non-banking finance companies (NBFCs) during the year till February, shows the latest data released by the Reserve Bank of India.
Emaar Properties PJSC, Dubai’s largest real-estate firm, has asked consultants and investment bankers to value its Indian joint venture Emaar MGF Land Ltd’s assets.
While the banks and financial institutions are overtly blaming the real estate companies for defaulting on the loan repayment, it is learnt that they are also showing largesse to the realtors by rescheduling their loan repayment.
Sandland Real Estate Pvt. plans to build a 25-megawatt solar power plant in Gujarat.
When the leading real estate company DLF sold 1250 flats within 2 hours of launch in 2009, there were many eyebrows raised. After all, in a market that was weathering crisis of confidence and liquidity it was hard to believe in the first place.
DB Realty, the tainted Mumbai-based real estate developer whose name figured in the 2G spectrum investigations, has lost its fourth director since February.