Diversified Indian conglomerate Piramal Group plans to lend up to $193 million to real estate projects in the current fiscal year to March as it focuses on building its newly launched financial arm, its Chairman said.
Even as global economic slowdown and uncertainty in financial markets have battered the real estate industry countrywide, properties in Kolkata and Chennai bucked the trend with steady demand in affordable and mid-segment housing.
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 much awaited and largely discussed Real Estate (Regulation & Redevelopment) Bill, pending since 2009, is finally been ready and the Government plans to introduce it in the winter session of Parliament after getting Cabinet approval.
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.
The Andhra Pradesh Government will take all steps to ensure that Hyderabad’s real estate industry bounces back to normalcy soon, said Chief Minister N Kiran Kumar Reddy.
Private equity fund Fire Capital’s promoter has tied up with a clutch of US-based realty firms to form a new company that plans to invest Rs.6,000 crore in the next four years on developing 32,000 homes across the country.
The current global scenario might be one of gloom, with markets in the US and in Europe on the brink of a double dip recession, but interest in Indian real estate is still high among global investors
The Kerala Government has proposed to constitute a real estate regulatory authority to monitor and guide builders and developers in the State.
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.