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Slowdown Hit Developers Looking to Lure NRIs to Invest in Projects

Posted: 14 Jun 2011 07:38 PM PDT

Top fifty firms together schedule property exhibitions for NRIs; banks, financiers expect good business, too. Hit by sluggish sales at home, realtors are wooing non-resident Indians (NRIs). A slew of property exhibitions have been lined up at Dubai, Singapore, London, Durban and New York over the next three-four months. Australia, Canada, UK are already buying,'' [...]

Hotel Industry increasing its Presence in Tier-II and Tier-III cities

Posted: 14 Jun 2011 07:07 PM PDT

With rising real estate prices, hotel companies in India are increasing presence in tier-II and tier-III cities through midmarket and budget segments. Low-cost hotels in smaller cities will see a growth of about 50% in the next four years, consulting and research firm HVS said in a report. The average per key cost of budget [...]

3 Women Accused of Real Estate Fraud worth over Rs 700 crores

Posted: 14 Jun 2011 06:22 PM PDT

Three women from a family have allegedly emerged as scamsters in a real estate fraud in excess of Rs700 crore with nearly 1,500 investors duped. On June 7, 2011, the Economic Offences Wing (EoW) of Delhi Police arrested Madhu Singh, managing director of AJS Builders. Madhu, in collusion with her mother-in-law Kailash Rani and sister-in-law [...]

Real Estate Slump forces Brokers& Agents to Look for Other Job Options

Posted: 14 Jun 2011 06:18 PM PDT

While the large and established players in the property business have managed to stay put even during the slump, thousands of smaller players like brokers and agents are being forced to look for other jobs. Also hit are lakhs of people employed with such small outfits - each of which hires 5-15 people.With many brokers [...]

10% area of Gurgaon Still under Wastelands

Posted: 14 Jun 2011 06:16 PM PDT

Despite hectic real estate and industrial development, at least 10% area of Gurgaon district is still under wastelands while its adjoining district, Mewat, has the maximum share in that regard with 11% of the states geographical area. A recent survey found that three other districts Faridabad, Mahendergarh and Panchkula also have more than 10% of [...]

Real Estate Sector Loans Poses Concerns: RBI

Posted: 14 Jun 2011 06:12 PM PDT

The real estate sector has posed "some concerns" given the large and growing share of these loans in the credit portfolio of banks, its non-performing assets (NPAs) witnessing higher-than system level NPAs growth, and potential of greater slippages into NPAs, the Reserve Bank of India said in its Financial Stability Report. "Going forward, the [...]

Cash-Strapped Mumbai Developers offer discount as sales drop

Posted: 13 Jun 2011 08:15 PM PDT

Cash-strapped developers in Mumbai have started to offer discounts for residential projects by around 10-15 per cent to lure customers as sales in the financial capital fell by around 3540 per cent in January-March quarter. Falling sales are pressuring the cash flows of developers who have a heavy debt load. Some of the leading developers [...]

Phoenix Group to invest Rs 2000cr in Upscale Residential Projects

Posted: 13 Jun 2011 06:55 PM PDT

Leading infrastructure development company Phoenix Group plans to invest Rs 2,000 crore in various upscale residential projects, including Rs 350 crore in Golf Edge, a mixed use project launched in Hyderabad, which will have a five-star hotel and high-end residential apartments. Further, Phoenix Group is looking to launch similar projects in tier I, II and [...]

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