True Value Homes to invest Rs. 800 crore
Chennai-based real estate developer True Value Homes is planning to invest Rs.800 crore over the next three years to develop around 12 projects, majority of which will be in the residential segment.
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Group buying site Groffr acquires Mobstreet.in
Mumbai-based RCSPL, which owns group buying portal for real estate GrOffr.com, has acquired Mobstreet.in, a company which was officially shut down in December 2010 due to lack of funds.
ABD to merge with CREDAI
The Association of Builders and Developers of Thrissur (ABD) will merge with the Confederation of Real Estate Developers’ Associations of India (CREDAI), the apex body for private real estate developers in India.
JLL donates $1.25 Million to Japan earthquake and Pacific tsunami relief
Global commercial real estate firm Jones Lang LaSalle has announced the firm is donating 100 million yen (approximately $1.25 million) to the Japanese Red Cross to provide aid and relief directly to those most in need following the Japan earthquake and Pacific Tsunami that have left a path of destruction in their wake.
Affordable housing demand will surge, says RNCOS study
With government support and increase in number of real estate developers, affordable housing demand will surge at a CAGR of around 13% during 2011-2013, says a research report by RNCOS a thinktank group on industry intelligence and creative solutions for contemporary business segments.
Ahmedabad gets represented in Executive Committee of CREDAI
With the emergence of Gujarat real estate sector on the realty map of India, the state’s real estate developers have also got recognition at the national level. Jaxay Shah, director of Savvy Infrastructure, has been elected as the new vice-president of Confederation of Real Estate Developers’ Association of India (CREDAI).
Asian property folio growth to beat US
Global companies said their real estate portfolios will grow most in Asia by 2013, boosted by the powerhouse economies of China and India, with those in more mature markets trading sideways, a survey said.
Tighter liquidity dips home prices in metro cities
The vision of owning a house is slowly getting clearer for buyers as residential real estate prices are beginning to see the promised correction on the back of hardening interest rates and poor transaction volumes.
Anant Raj Group Chairman questioned by CBI
The CBI has questioned chairman of Anant Raj Group, a Delhi-based real estate company, Amit Sarin, and Idea Cellular CEO Sanjeev Aga in connection with its probe into the 2G spectrum allotment scam.
Oversupply of retail space set to keep rentals under pressure
A mammoth increase in planned supply of retail malls in India will increase retail companies’ bargaining power vis-à-vis real estate developers.