Realty firms are making a beeline to private equity investors for money to repay mounting debt portfolios. With commercial banks turning cautious about lending to the real estate sector, industry players strapped for cash are seeking equity capital to ease the liquidity crunch.
The Confederation of Real Estate Developers’ Association of India (CREDAI) Friday urged the central government to introduce single window clearance and a uniform tax structure for the sector across the country.
Addressing a press conference on Thursday, the newly-elected members of CREDAI National said the mission would give the real estate industry and all activities connected to it a fair image.
Real estate and investment management services provider Jones Lang Lasalle Inc. on Thursday announced its foray into South Africa with the acquisition of corporate property service provider, Bradford McCormack & Associates for an undisclosed amount.
In what could be biggest shake up in India’s retail sector, and cheer up the real estate developers also who are at the receiving end by the retail partners, the global major retail Walmart is in talks with Big Bazaar for stake.
Australia’s Platinum Investment Management has raised its stake in India’s second largest real estate firm Unitech to 5.16%.
The Income Tax department has sent notices to real estate companies, MMRDA, CIDCO stating that all land lease sales or transfers attract a 10% tax, sources said.
Bangalore-based Century Real Estate has raised Rs.200 crore from Kotak Realty Fund, the property investment arm of Kotak Mahindra Bank, through a private placement of non-convertible debentures (NCD).
Calcutta high court on Wednesday dismissed a writ filed by Rose Valley Real Estate and Construction Company Limited, challenging an order of the Securities and Exchange Board of India (SEBI).
Indian real estate majors, DLF and Unitech, are set to miss their FY11 sales target, despite prices reaching the highs of 2007. Mid cap names like HDIL, Ackruti City and Sobha Developers are however on track to meet their targets.