Realtors sulk under representation in budget
Nearly all the real estate developers, a whopping 96 per cent, across the country are cribbing for the sectors’ continued under representation in the Union Budget over the years.
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Close surveillance on real estate prices in Bihar: Nitish
Noting that real estate prices in Bihar had touched the level of Gurgaon in Haryana, Chief Minister Nitish Kumar today said the state government was keeping a close surveillance on the price spiral.
Realty companies hit with Rs 20,000 cr demand
Public sector banks including State Bank of India, Bank of Baroda, Bank of India, Indian Overseas Bank have served notices to dozens of real estate companies to recover around Rs 20,000 crore of their exposure by March.
Nitesh Estates launches Rs 100 cr luxury residential project
Nitesh Estates has announced the launch of a Rs-100 crore luxury residential project in Bengaluru. The project, Nitesh Logos, would be located in the central business area MG Road and provide all modern amenities, company officials said. The project is expected to be completed in two years.
CREDAI forecasts real estate boom in Kochi
The Confederation of Real Estate Developers’ Association of India (CREDAI) has forecasted Kochi to emerge as the next realty hot spot in the wake of the commissioning of the International Container Transshipment Terminal (ICTT ) at Vallarpadam. CREDAI believes the prices of land and buildings are all set to skyrocket as it will generate more direct and indirect employment opportunities.
Nitesh Estates Ltd announces Q3 results
Nitesh Estates Limited has announced impressive performance for the third quarter ended on December 31, 2010 with a Consolidated Total Income of Rs. 31.8 Crore; EBIDTA of Rs 4.03 Crore & PAT of Rs. 2.58 Crore.
DB Realty absorbed Dawood money, believes CBI
THE CBI interrogation of DB Realty’s MD, Shahid Balwa, in connection with the 2G spectrum scam has thrown up the possibility of the real estate magnate having links with India’s most wanted man, Dawood Ibrahim. According to senior CBI officials, Dawood invested large sums of money in Balwa’s firm, which was used by him to finance many of his business deals.
Knight Frank outlook on real estate not bright
As real estate prices shoot up and interest rates, the outlook for the sector does not look too bright. In its year-end report, Knight Frank has stated that new home sales in India have fallen by 25 per cent due to soaring prices. With the Reserve Bank of India tightening lending norms to developers and raising interest rates, the property market is likely to plumb new lows in 2011 as buyers disappear.
Cognizant to invest $500 mn in real estate in next four years
IT major Cognizant today announced its intention to pump in more than $500 million in the next four years in real estate development as part of its expansion program.
Chennai real estate market outlook 2011
The outlook for Chennai’s residential property market remains positive in 2011. This is a stable market, and the prices have risen rationally in tandem with normal market trends. With the IT sector on the upswing and job security once again strong, Chennai’s residential real estate market will see accelerated demand in 2011.