Recently an acquaintance – a fund manager by profession – relocated to India to set-up a domestic PE fund here. He had invested in a Mumbai residential property strategically located close to the primary business district and an international school for his kid.
The demand for holiday homes in India is as wired into the country’s overall economic performance as every other segment of residential real estate.
IIFL Venture Capital Fund, the private equity arm of the India Infoline group, is reportedly raising Rs.500 crore for investing in real estate.
A Knight Frank report suggests revenues of real estate companies have dropped by 19 per cent and profits have declined by 70 per cent, over the past four financial years, since 2007-08.
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.
A four day property exhibition by the Orissa chapter of the CREDAI, which concluded in Bhubaneswar today, has estimated property deals worth about Rs.150 crore.
Akshaya has chartered out plans for the next five to 10 years with an aim to strengthen its presence in South India.
The Malaysia’s Selangor State Development Corporation (PKNS) has forayed into India’s real estate sector and is close to concluding a deal with a leading developer to build affordable houses in Mumbai.
Marathon Group has launched Marathon Nagari-NX, a township, in Badlapur, one of the fastest growing city in the Mumbai Metropolitan Region (MMR).
Real estate giant DLF may have to pay Rs.900 crore extra penalty if the Competition Commission of India (CCI) finds it guilty of abusing its dominant market position in three more projects in Gurgaon.