Steady rise in the price of construction material, like cement, steel, bricks, coupled with a shortage of skilled labourers, has hit the realty sector in Gujarat, an office-bearer of state-CREDAI said.
Zandu Realty has struck a deal with Sheth Developers to rebuild erstwhile herbal healthcare firm Zandu Pharmaceutical Works’ headquarters in Mumbai’s Dadar neighbourhood into a 2.7-acre commercial complex.
Morgan Stanley Real Estate Investing Managing Director Naresh Naik has resigned to set up a real estate fund house that will invest exclusively in India.
The festival of Diwali has a direct bearing on the property market, and irrespective of the overall macro economic scenario the property transactions around this time of the year have been the maximum.
As the realty major DLF moves the Compat to challenge the CCI penalty of Rs.630 crore, the real estate sector will soon get an answer as to whether their business falls under the service sector.
It is not just the rising interest and input costs and project delays that is hurting the realty companies, rather the mounting debt is the real cause of worry.
Continuous rise in interest rates by the banks is dampening the effort of the real estate companies to reduce debt by selling non-core assets.
While the real estate carries home the point that the very nature of business has gone for a change with second generation taking over the business, professionals driving the show and efforts for an overall image makeover.
Real estate industry body CREDAI on Saturday, September 3, opposed constitution of a regulatory body for the real estate sector, saying that it would become a “breeding ground for corruption” if implemented.
Ashiana Housing Ltd., Delhi based real estate player becomes the only real estate company from India to figure in ‘Asia’s Best Under A Billion1 list of companies compiled by the Forbes magazine for 2011.