ASK Group buys 49% stake in Godrej Properties’ Chembur project
The private equity firm ASK Property Investment Advisors has bought 49% stake in Godrej Properties’ Chembur project.
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Global funding mechanism may not work in Indian real estate
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.
Hospitality gearing up for steep climb ahead-II
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 announces a redevelopment project in Mumbai
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.
Banks not uniform in funding policy to real estate
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.
Residential rentals moved up by 14% in Q1-12 over Q1-11 in the Mumbai region: 99acres.com study
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.
Income tax office freezes Unitech shares in Telenor JV
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.
Realty in Bangalore to see 25 per cent growth
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 appoints Cisco for smart urban development in India
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.
Innovative funding may work in Indian realty
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.