A report by real estate firm Knight Frank says worldwide mainstream house prices marginally avoided falling into negative territory with prices rising on average by 0.1% in the three months to June 2011 and by 1.7% over a 12-month period.
Backed by the Competition Commission of India (CCI) penalty of Rs 630 crore on DLF, for “unfair trade practices” and “abuse of market dominance”, the Belaire Owners’ Association has suddenly become self-styled crusaders against developers.
Sri Lanka’s Rank Holdings, a group which has interests in gaming, power and logistics, is planning a 200 million US dollar hotel and residential complex in the capital Colombo with an Indian partner, an official said.
India’s ASK Property Investment Advisors aims to raise a Rs.10-billion ($219 million) fund by December in a bet on the long-term case for property in Asia’s third-largest economy, said a top official.
Shriram Properties, which wants to refinance projects under development and acquire distressed real estate assets may get $125 million PE fund by private equity arms of JP Morgan, IL&FS and Morgan Stanley.
Confederation of Real Estate Developers’ Associations of India (CREDAI) Pune has opened e-PROFEST 2011, Pune’s Virtual Realty Fair.
Aman Resorts, the chain of luxury resorts owned by DLF may be sold for more than $400 million, according to the sources.
The Competition Commission of India (CCI) has slapped a 630-crore fine on DLF, threatening to turn an isolated dispute between flat buyers and India’s largest builder into a full-blown headache for the industry.
In a letter addressed to the Government of Goa on 15/3/2011 Airport Director, Goa, AAI pleas that the Government of Goa may kindly consider proceeding with the land acquisition in respect to Survey No 8/1 in view of the inescapable and imperative requirement of the area for airport development.
As early as 2007, Goa government agrees to acquire land, notifies land for acquisition to be given to Airports Authority of India for Airport parking facility.