Further insight on the current state of the Indian economy will be provided with the release of July industrial production data on Wednesday 12th and August WPI (inflation) on Friday 14th. Recent news flow has generally been a little downbeat but the picture is not a uniform one.
India’s plan to buy a property to move its cultural centre in Colombo is in limbo, after New Delhi lost out to a Chinese state-owned company in the race to buy a prime plot in the Sri Lankan capital – allegedly due to delay by the island nation’s government in issuing necessary clearances.
Tata Realty and Infrastructure Ltd (TRIL) is planning to raise two India-focused realty funds, including a $500 million international fund and Rs 300 crore ($55 million) domestic fund, according to reports in a section of media.
In a bid to check the mushrooming growth of slums in the state, the Odisha government is planning to create rental housing at an affordable monthly rent of up to Rs 2,000 for the poor.
The Environment Ministry has now set new norms for buildings higher than four floors. However, experts question the compliance aspect. Sachin Sandhir, Managing Director (South Asia) of RICS is apprehensive with the enforcement of stricter norms for structural safety.
DB Realty has appointed Vipul Bansal as Chief Executive Officer with immediate effect. The new CEO will oversee real estate and hospitality verticals of DB Group, the company said in a release.
Ekta Kapoor’s Balaji Group has now entered Mumbai’s real estate market with two projects- a commercial complex in Chandivli, Andheri East, and a residential one in Mira Road – both being handled by her father and yesteryear star Jeetendra through group firms Balaji Developers and JK Developers.
More than 1,000 registered attendees from around the world will converge in Shanghai next week for the 2012 ICSC Retail Real Estate World Summit. More than 70 speakers around the globe from companies ranging from Apple and Walmart to India-based K Raheja Corp. will be discussing the latest trends transforming the international retail real estate industry.
DLF Chairman K P Singh has warned that the current policy paralysis has had an adverse impact on the country’s growth momentum denting business confidence, and could lead to its unique demographic dividend turning into a demographic nightmare.
The Maharashtra Chamber of Housing Industry (MCHI)-CREDAI has set up a four-member committee to look for the best option for developers to compute Value Added Tax (VAT) and, in turn, pass it on to buyers who purchased flats between 2006 and 2010.