Browsing: Mumbai Real Estate

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IPO funding a strategic mistake for real estate

Sunil Dahiya: Pranay, the most important thing is the background of the investor from the developer’s perspective. My understanding may be a little limited because I come form the Delhi NCR market and as you know, it is a very localized subject. But being in the governing council of NAREDCO at the national level, where Knight Frank is knowledge partner, one of the presentations that we had in 2008 with the idea that where the industry has lost its bearing and funding was the main agenda.

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Impact of Union Budget 2012 on Mumbai realty market

By allowing external commercial borrowings (ECBs) in the low-cost housing segment, the supply of affordable housing projects will increase in the outskirts of Mumbai in areas such as Karjat, Boisar, Nalasopara, Virar, Dombivili etc. on the heels of increased liquidity for budget home projects.

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Budget 2012-13: Realty reacts with some pain-some gain rhetoric

It is a highly disappointing budget. The Finance Minister has miserably failed in highlighting the importance the role of Housing in economy, employment generation, apart from the very need of housing. The announcements on ECB for affordable housing is a minor respite but still meaningless.

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Union Budget has exceeded the expectations

“For the real estate and housing sector, this years’ budget has exceeded expectations given the pressure on fiscal situation. Most importantly, it has taken into account the crying need to focus on affordable housing sector by allowing ECB for low cost housing, road as well as construction. Withholding tax on ECBs for affordable housing has been reduced from 20% to 5% for 3 years and this move will help ease the liquidity in the sector.

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Funding gap in real estate

Pranay Vakil: Let’s start by introducing ourselves. I am Pranay Vakil, Chairman of Knight Frank India. We are a brokerage and consultancy group, positioned as second in the business.

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FDI rises 31% in 2011, realty gets its share

Despite a gloomy global outlook, foreign direct investment (FDI) clocked a 31 per cent growth to $27.5 billion during January-December 2011 period. FDI inflows for January-December 2010 stood at $21 billion.

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Equinox Realty seeks $200 mln from asset sale

Equinox Realty,an arm of oli-to-steel conglomerate Essar Group,plans to sell a minority stake in its biggest commercial asset in Mumbai to raise between 7.5 billion rupees and 10 billion rupees, sources close to the development said.

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