The Competition Commission of India (CCI) has closed the case against Taneja Developers and Infrastructure (TDI) related to allegations that the company was abusing its dominant position in the real estate segment in Mohali.
The real estate industry today expressed hope that a part of Rs 17,000-crore worth liquidity infused by RBI into the financial system would flow into the realty sector.
Sending positive signs from easing the cash crunch for the realty sector, Secretary for Financial Services D K Mittal on Monday, Sep 17, asked the commercial banks to focus on funding partially completed projects on a priority basis and development of projects in small towns.
Asia and Latin America’s economic resurgences have fueled an upturn in retail activity, with increasing rents reflecting high demand for the limited amount of prime retail opportunities in both regions, according to A Global Perspective on the Shopping Center Industry, a new global retail report from Cushman & Wakefield and the International Council of Shopping Centers (ICSC).
The Finance Ministry will meet chief executives of leading banks today, Sep 17, to discuss credit flow to the real estate and housing sectors. According to sources D K Mittal, Secretary of Financial Services, will chair the meeting of bankers, which will take stock of credit flow to the sensitive sectors.
Leading jewellery brand Kalyan Jewellers is planning to make a foray into the real estate market of Ahmedabad. The Rs 9400-crore company, which has 37 branches in six states of India, opened its 38th showroom in Ahmedabad on Sunday, Sep 16.
To protest against the decision of the Union Government to allow FDI in multi-brand retail, the Confederation of All India Traders(CAIT) and Bharat Udyog Vyapar Mandal have called for a Bharat Trade Bandh on 20th September,2012 in which they claim that about 5 crore traders and more than 10 thousand trade associations across the Country will participate.The Traders have appealed all national and regional political parties to extend their support to Bharat Trade Bandh call.
The recent decision by the Government to allow foreign direct investment in multi-brand retail is understandably the talk of the town. There are various points of view regarding the impact it will have on the retail sector in specific and the Indian economy in general, but the decision is a big step in the direction of strengthening organized retail in the country. To get the complete picture, it is important to understand the situation which exists currently and how the new regulations are going to change the retail landscape.
The government’s decision to operationalise FDI in multi-brand retail would help the realty sector as the move would create demand for retail space and boost mall development in the country, real estate developers and property consultants said.
Declining property sales coupled with stretched balance sheets is bound to remain a concern in the short-term, leading to a moderation in property prices in some markets, says a report by market research firm Knight Frank.