Atul Modak: Why did bankers’ lobby not block the mutual funds then?
Pranay Vakil: Because the mutual funds lobby is larger than the bankers’ lobby. They could not do anything about it. The companies into mutual funds are so large, they might just foray into banking.
The emergence of the secondary and tertiary cities led to an aggressive increase in hotel development and provided avenues for expansion of hotel brands, which were previously dependent on new opportunities in just the five main cities.
Godrej Properties will redevelop 18 residential buildings in Chembur, Mumbai. The Company, through its wholly owned subsidiary Godrej Projects Development Private Limited (GPDPL), entered into an agreement dated January 18, 2012 with Kamla Landmarc Property Leasing and Finance Private Limited (Kamla) to undertake a residential redevelopment project in Sahakar Nagar, Chembur, Mumbai.
Sunil Dahiya: I have a copy of the circular which PNB got from the RBI and probably the managers are interpreting that in their own way. Now the circular that has been shared by the HO with the managers says that they will not take any exposure in housing loans, not even non-fund based.
All areas of Mumbai and Navi Mumbai witnessed an appreciation in rental values when we compare rentals of a 3BHK residential apartment in Q1-12( Jan- Feb- Mar 2011) over Q1-11(Jan-Feb-Mar 2010), says a study by realty portal 99 acres.com. Mumbai as such has always been in the forefront when it comes to rental values of properties. It has in the recent years witnessed a record rise in rental values which is at par with some of the highest real estate rental rates in the world.
The income tax department has frozen the shares owned by real estate company Unitech Ltd in its mobile phone joint venture with Norway’s Telenor, the joint venture said on Wednesday, citing notices from the tax authorities.
The real estate sector in Bangalore has grown to a large extent in the past one year. In the year ahead, the city’s realty is expected to grow by 25 per cent, estimates the Karnataka Chapter of the Consortium of Real Estate Developers’ Associations of India (CREDAI).
Mantri Developers has collaborated with Cisco to develop new ICT-enabled real estate models ‘Mantri Connected Communities and Smart Homes.’ This collaboration combines Cisco’s Smart+Connected Communities vision with Mantri’s experience as a pioneering smart urban developer to provide connected and sustainable communities and an enriched living experience to its residents.
Pranay Vakil: Kruti can you give some examples of innovative funding for the benefit of the panel? It is just to prove a point about how innovative that funding has been.
With the real estate industry reeling under an unprecedented crisis, top developers from across the country will meet in Pune for a two-day CREDAI conclave starting Wednesday to brainstorm and find solutions to revive the sector that contributes 6.5% to the GDP.