Property News from IndianRealtyNews

Property News from IndianRealtyNews

Link to India Properties - Real Estate India - Indian Property News Site

Real Estate Companies Reconsider Capital Raising Plans

Posted: 30 Nov 2010 03:02 AM PST

With real estate and financial services stocks battered on Dalal Street, several companies have been forced to review their capital-raising plans. At least one public sector bank, which was working on sale of shares to institutional investors, has put its plans on hold till sentiment improves. But the worst hit would be real estate players, [...]

Housing Finance Racket a Case of Bribery; Not Scam: CREDAI Appeals

Posted: 29 Nov 2010 09:24 PM PST

Realty body CREDAI on Sunday termed the recent housing finance racket as a case of “bribe and kick-backs for loans” and said the case cannot be called as a housing scam. Recently, the CBI busted the housing finance racket and arrested eight top officials of banks and financial firms on charges of taking bribe to [...]

Badarpur Flyover Shoots Faridabad Property Prices by 40%

Posted: 29 Nov 2010 09:18 PM PST

Over the past six months, Faridabad has been witnessing a quiet revolution. Real estate prices, which had plummeted post 2008 and then plateaued at Rs 20,000-25,000 per square yard last year, have suddenly shot up by 30-40%. Reason — the coming up of the Badarpur flyover. Pradeep Mishra, a real estate analyst, said, ”The realty [...]

CCI Probing Real Estate Companies

Posted: 29 Nov 2010 08:59 PM PST

The Competition Commission of India (CCI) on Monday disclosed that it was examining 11 complaints of anti-competitive practices received against real estate companies, some of which were being probed by the CBI in connection with the housing finance scam. CCI Chairman Dhanendra Kumar said that out of the 137 cases that had been filed with [...]
No comments:

Property News from IndianRealtyNews

Property News from IndianRealtyNews

Link to India Properties - Real Estate India - Indian Property News Site

More than 6% Decline in Real Estate Firm Unitech’s Shares

Posted: 29 Nov 2010 01:15 AM PST

Shares in Indian real estate firm Unitech Ltd fell more than 6 percent on Monday, after ET reported that investigative agencies were probing a financial transaction the firm entered into in 2007. Investigators probing a telecoms license scandal were also examining a loan of 16 billion rupees ($350 million) that Unitech received from unlisted Tata [...]

CREDAI fears Drastic Reduction in Credit because of Housing Scam

Posted: 28 Nov 2010 11:34 PM PST

The Confederation of Real Estate Developers’ Association of India has said that "painting" the 'loan-for-bribe’ as a scam, would lead to drastic reduction in credit for real estate companies. Bankers would become extremely wary and hesitant to lend to realtors and given the shortage of housing, it would be detrimental to both customers and homebuyers, [...]
No comments:

Property News from IndianRealtyNews

Property News from IndianRealtyNews

Link to India Properties - Real Estate India - Indian Property News Site

Indian Retail Sector Lost Rs 9259.9 cr to Theft and Shoplifting in 12 Months

Posted: 26 Nov 2010 12:58 AM PST

The Indian retail sector lost Rs 9,295.9 crore to shoplifting and theft during the 12-month period ended June, 2010, which added Rs 6,631 to the shopping bill of the average family, according to a survey. As per the Global Retail Theft Barometer Study, India also had the dubious distinction of the highest rate of retail [...]

Loan Scam to Affect Real Estate Companies: SMC Global

Posted: 26 Nov 2010 12:53 AM PST

The ongoing investigation of LIC Housing Finance and some public sector banks is set to impact realty companies, which are already facing a crisis of confidence among institutional investors. The development will adversely impact their ability to raise resources either through debt or equity. Given their market performance this fiscal, realty stocks are finding few [...]

15% Fall in Real Estate Index

Posted: 25 Nov 2010 10:35 PM PST

India’s main real estate sector index fell nearly 15 percent on Friday, on fears that an ongoing probe into a financial bribery scandal could involve more real estate companies, traders said. At 10:44 a.m. (12:14 a.m. ET), the benchmark BSE real estate index was down 10.6 percent at 2,571.89 points, after having fallen nearly 15 [...]

No Restrictions on Disbursements to the Real Estate Sector- SBI

Posted: 25 Nov 2010 10:32 PM PST

The country’s largest lender State Bank of India (SBI) today said the housing finance racket, involving CEO of LIC Housing Finance and several senior bankers, will not hit disbursements to the real estate sector and there was no need for alarm. “We are always cautious when we lend and you know there are always bad [...]
No comments:
Subscribe to: Posts (Atom)