Property News from IndianRealtyNews

Property News from IndianRealtyNews

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India to Unveil Single FDI Policy for Financial, Banking Sectors

Posted: 19 Mar 2010 12:06 AM PDT

India will unveil a single policy for foreign direct investment, including in sectors such as financial services, insurance and banking by March 31, Commerce and Industry Minister Anand Sharma has disclosed. After 3 days of discussions with senior administration officials, Sharma acknowledged that “it’s true that we were slow off the block when we started [...]

Unitech to Focus on Real Estate-Looking to De-merge Non-Core Business

Posted: 18 Mar 2010 11:43 PM PDT

Unitech Ltd, the second-largest real estate developer in the country, is looking to de-merge its non-core businesses in order to focus only on real estate, a source familiar with the development said. The company's non-realty businesses include construction, special economic zones (SEZs), power, telecom and hotels. The company plans to unlock value through private equity [...]

Parsvnath Developers Signing Deal to Sell off BEST Land at Kurla for Rs 307 crore

Posted: 18 Mar 2010 11:11 PM PDT

Parsvnath Developers, the New Delhi-based realtor, is close to signing a deal with a local developer for its BEST land at Kurla for Rs 307 crore, sources involved with the deal said. Parsvnath had received development rights in 2007 for the land, which included constructing of a fully-equipped bus depot, staff housing and buildings for [...]

Banks Seek Clarification from RBI on New Interest Rate System

Posted: 18 Mar 2010 11:03 PM PDT

Commercial banks are concerned over the Reserve Bank's new interest rate system under which lending rates are to be linked to a base rate. They are seeking clarifications in an attempt to de-link home loans from the plan. This is because the expected base rate of around 8.5 to 9.5 per cent could lead to [...]

SBI is the Biggest Player in the Home Loan Sector

Posted: 18 Mar 2010 11:02 PM PDT

With the teaser rate tenure coming to an end, it is time to gather the market share earned by the different players during the reign. Of the total amount of Rs. 45000 crore lent as cheap loan, SBI seems to have gathered the biggest chunk of the pie by sanctioning a colossal 67% of the [...]

Tranport Corp Approves Demerger of its Real Estate & Warehousing Undertaking

Posted: 17 Mar 2010 11:04 PM PDT

Logistics company Transport Corporation of India Ltd India's on Wednesday announced that its board has approved the demerger of its real estate & warehousing undertaking into a new company namely TCI Developers Limited (TDL). The demerged entity would have properties and investments with a book value of Rs50 crore, the company said in an emailed press [...]

Mumbai Builders Focusing on Luxury Flats Targeting NRI Customers

Posted: 17 Mar 2010 10:58 PM PDT

Mumbai developers seem to have given up on housing for the middle-class. If you thought the realty revival in the city would come through middle-level affordable housing, you cannot be more off the mark. Most new launches are looking at the Rs1-crore residential houses project. Take Kalpataru developers — it is building a 750-unit project — [...]

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