Is price correction inevitable in Mumbai?
Mumbai real estate is debating over a possible price correction as sale registrations for September recorded a 29-month low at 4,137, down 22 per cent year-on-year.
Mumbai real estate is debating over a possible price correction as sale registrations for September recorded a 29-month low at 4,137, down 22 per cent year-on-year.
While the real estate market looks subdued with the sector weathering a host of issues, this is not a good news either. DLF’s Chairman K P Singh is out of the top ten list of Forbes.
While other leading players in the realty and construction are reeling under investors’ loss of confidence, JP Infra’s stock has zoomed by over 40 per cent from Rs.44.50 exactly a month ago to Rs.63.05 on the BSE, outpacing peers.
Godrej Properties will raise up to Rs.750 crore through a shares issue over the next 6-12 months to bring down promoters’ shareholding in the company from the current 83.79% to 75%.
If the current economic conditions have proved nothing else, they certainly prove that investment in Indian residential real estate is impossible to write off, ignore or find an alternative to.
The real estate market may be in a slump with developers innovating ways and means to increase sell, but the festive season seems to be bringing in good cheer for the country’s tallest tower — Lodha World One.
Bennett, Coleman & Co. Ltd has acquired an undisclosed stake in an ad-for-equity deal with Noida-based Investors Clinic Infratech Pvt Ltd.
The Securities and Exchange Board of India (SEBI) has questioned the Bombay Stock Exchange (BSE) the basis on which it gave a certificate to the Sahara group on the ‘listability’ of optionally fully-convertible debentures (OFCDs).
The National Housing Bank (NHB), regulator in the realty finance sector, is expected to take a decision soon on whether or not there will be a complete waiver of all pre-payment charges on floating-rate home loans.
Less launches, pragmatic marketing, innovative packages, product bundling and online brand promotion, the real estate developers in Mumbai are leaving no stone unturned to beat the inflationary pressure.