Property News from IndianRealtyNews

Property News from IndianRealtyNews

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Real Estate Services top Contributor to Delhi’s Economy: Added over 1 lakh crore to City’s GDP in 2010-1011

Posted: 22 May 2011 08:30 PM PDT

Real estate services added over Rs 1 lakh crore to Delhi’s GDP of Rs 2.58 lakh crore in 2010-11, emerging as top contributors to the city’s economy and reflecting the rapid growth and buoyancy in the sector. The real estate sector, which includes property brokers, home buyers, landowners, property owners and housing finance institutions, contributed [...]

Realty Feels the Heat: Sales Affected in Summers

Posted: 22 May 2011 07:36 PM PDT

Summer spells a lull for the real estate sector as transaction volumes take a downward plunge. The trend is clear considering that estate project launches have been the least during the second quarter from April 1 to June 30. As many as 46,093 high rise apartments were launched between January 2005 till December 2010. Of [...]

Starwood to Open 100 Hotels in India by 2015

Posted: 22 May 2011 06:45 PM PDT

Starwood Hotels and Resorts Worldwide, which owns brands like Sheraton, Westin, Le Meridien, W Hotels and Luxury Collection, signs up on average a property a week. Last year, it beat its record by signing up 72. In India, Starwood has an ambitious target of 100 hotels by 2015. Hoyt Harper, senior VP-brand management in Sheraton [...]

Zinc Hospitality to Launch its Own Brands in India

Posted: 22 May 2011 06:42 PM PDT

Real estate company Zinc Hospitality, which holds equity in properties like Taj Safaris, Taj Asia, Hilton in New York and India Safaris, is getting its own brands to India. The company has partnered hotel management company, Bangkok-based InVision, to launch its brands – Glow Studios and Zinc City — for the mid-market segment. It plans [...]

Court Decision Leads to 20% Fall in Housing Demand at Noida Extension

Posted: 22 May 2011 06:34 PM PDT

Housing demand in Noida Extension area in the National Capital region ( NCR) has fallen by at least 20 per cent following a court order directing return of land acquired for residential development to the original owners. Property developers and consultants said that most of the prospective home buyers are adopting a wait-and-watch policy for [...]

Phadnis Infra Plans Rs 1700cr Investment to Expand Real Estate, Hospitality and IT Business

Posted: 22 May 2011 06:30 PM PDT

Infrastructure development firm Phadnis Infrastructure plans to invest over Rs 1,700 crore in the next five years to fuel its expansion plans. “We have huge growth plans for India and so have planned to invest over Rs 1,700 crore in the next five years. These funds would be used primarily to fuel our expansion in [...]

Real Estate Agent Arrested for Occupying Properties of NRIs

Posted: 22 May 2011 06:28 PM PDT

Police have arrested a 46-year-old businessman, currently on bail in a cheating case, for allegedly usurping properties belonging to non-resident Indians through forged documents. Dheeraj Singh, who owns D S Industry and Himland Real Estate Pvt Ltd in Punjab, was arrested from Chandigarh, police said. The arrest came after Surinder Malhotra complained to police that [...]

Poor Infrastructure, Transport and Lack of Affordable Housing Hamper Navi Mumbai’s Growth Prospects

Posted: 22 May 2011 06:11 PM PDT

Navi Mumbai is not beaming in its 40th year. Lack of affordable housing, poor transport, growing slum population and encroachment, pollution, and slow infrastructure development are hampering its prospects. The state government’s recent white paper on the socio-economic progress of Navi Mumbai says: “Lack of efficient, dependable and speedy public transport linking Mumbai and other [...]

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