Property News from IndianRealtyNews

Property News from IndianRealtyNews

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RBI Might Increase Loan Rates on Commercial Real Estate Projects Further

Posted: 14 Apr 2010 09:47 PM PDT

The Reserve Bank of India (RBI) might make scrounging more costly for builders by asking banks to set apart more funds for loans to commercial real estate projects. A higher capital necessity will compel banks to increase interest rate on such loans. Senior bankers are of the view that RBI can either increase normal provisioning [...]

Fingen Group Plans Luxury Hotels in India

Posted: 14 Apr 2010 09:46 PM PDT

The Fingen Group is evaluating the prospects of bringing in factory outlet mall format and building luxury hotels in India, said Fingen Group director Jacopo Fratini, who is on his first visit to India. An Italian family-owned conglomerate, the e250,000 m Fingen Group has interests ranging from apparel, retail, real estate development, hotels and vineyards. [...]

NRIs Remittances to India are on the Rise

Posted: 14 Apr 2010 09:45 PM PDT

Remittances to India are on the rise, but the bulk of the money flowing into the country is used for consumption and not for creating assets. A Reserve Bank of India (RBI) study, conducted in November, shows that the Indian diaspora has remitted $46.9 billion (Rs2.09 trillion today) during 2008-09, up from $43.5 billion in [...]

30% Rise in Mumbai Home Sales

Posted: 14 Apr 2010 09:43 PM PDT

Mumbai home prices have jumped about 30 percent over the past six months, leading to a drop in home sales in India's financial capital as higher prices deter buyers, Knight Frank LLP said. "Residential property prices have risen too much too fast," Pranay Vakil, chairman of Knight Frank (India) Pvt. said in an interview in [...]

Hotel Rates Likely to Remain Flat Due to Increase in Rooms

Posted: 14 Apr 2010 09:42 PM PDT

Hotel room rates are expected to remain flat at last year’s levels during 2010-11, despite some moderate increases planned by industry players for the October season, coinciding with Commonwealth Games. One of the reasons for this is the new room supply to be added during the next one year, which will keep occupancy and room [...]

CREDAI Submits Memorandum Demanding Removal of Service Tax on Housing Complex under Construction

Posted: 14 Apr 2010 09:33 PM PDT

Real estate industry body Confederation of Real Estate Developers’ Associations of India (CREDAI) has submitted a memorandum to the Finance Ministry, asking the government to remove service tax on housing complexes under construction. “We have put forth our concerns and recommendations and also discussed the probable impact of the provisions with the Ministry. We are [...]

Reliance MediaWorks in Discussions to Acquire DLF’s DT Cinemas

Posted: 14 Apr 2010 09:31 PM PDT

Anil Ambani’s ambitions to expand his cinema business may not end in a battle to acquire the majority in Fame. As sources say Anil Dhirubhai Ambani Group Reliance MediaWorks may well be eyeing DT cinemas, which belongs to real estate developer DLF. BIG Cinemas keen to expand presence in north India and for this both [...]

Unitech can Gerner Rs 5,000 cr from Demerger of non-core Business

Posted: 14 Apr 2010 09:19 PM PDT

Unitech Ltd, the country's second-largest real estate developer, is likely to garner at least Rs 5,000 crore from the demerger and subsequent listing of its non-core businesses, a source familiar with the development said. If the listing materialises, Unitech would we able to raise funds easily in the non-core business compared to its real estate [...]

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