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Real Estate Sector Worried Over Hike in Home Loan Rates by RBI

Posted: 03 May 2011 08:56 PM PDT

The hike in interest rates may have a ripple effect on the real estate sector with construction cost going up. The RBI announcement will negatively impact real estate developers already reeling under pressure from lack of capital from lending institutions. It comes as bad news even for those looking to buy a house as loans [...]

Developers/Home Buyers will Feel the Pinch of Higher Interest Rates

Posted: 03 May 2011 08:55 PM PDT

Real estate developers and home buyers will feel the pinch of higher interest rates, which could slow down home sales. Higher interest will push up monthly installments for home loans for existing as well as new home buyers. The National Real Estate Development Council (Naredco) expects interest rates on housing finance to increase to 10.5 [...]

Piramal Realty Ltd Plans 5 Residential Projects in Mumbai

Posted: 03 May 2011 08:38 PM PDT

Piramal Group chairman Ajay Piramal's newest venture, Piramal Realty Ltd, will kick off with five residential projects in Mumbai at an estimated investment of about Rs. 1,500 crore. The company will develop about 30 million sq. ft through land acquisitions funded from its own sources, without any borrowing, managing director Khushru Jijina said. "We are [...]
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Property News from IndianRealtyNews

Property News from IndianRealtyNews

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

Indiabulls Real Estate Reports Net Profit of Rs 47.30cr in Q4

Posted: 02 May 2011 09:13 PM PDT

Indiabulls Real Estate, which recently demerged its subsidiary Indiabulls Wholesale Services, has reported a net profit of 47.30 crore in the fourth quarter to March 31.The company’s income from operations of during the period stood at 641.84 crore, it reported to the stock exchange on Monday. If the demerger, effective from March 31 this year, [...]

Real Estate Developer Adani Plans Entry in Delhi-NCR

Posted: 02 May 2011 08:01 PM PDT

Adani Realty Business and Delhi-based realtor M2K Group will jointly develop residential projects on 41 acres of plot the latter owns in Gurgaon, near Delhi, marking Adani’s foray into the Delhi-NCR. The real estate arm of the ports-to-edible oil Adani group will develop two projects on separate parcels of land. The projects will cost 1,500 [...]

SC Adjourns Hearing of Sahara Group Petition

Posted: 02 May 2011 06:51 PM PDT

The Supreme Court on Monday adjourned the hearing of the petition filed by the Sahara Group against the orders of the Allahabad High Court which necessitated the company to share full details of investors participating in its fund raising exercise with the market regulator SEBI. A three judges bench headed by the Chief Justice S [...]
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Property News from IndianRealtyNews

Property News from IndianRealtyNews

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

IT Department Purchased Properties worth INR 2500cr Last Year

Posted: 02 May 2011 12:20 AM PDT

The Income Tax Department became one of the largest purchasers of real estate properties last year as it embarked on a mega expansion spree to spread its establishment for enhancing taxpayer services in the country. The department, which has recently begun a special drive to check prevalence of black money in the country’s real estate [...]

Govt May Allow FDI in Multi-Brand Retail in 36 Cities

Posted: 01 May 2011 10:58 PM PDT

Industry Ministry’s proposal to open multi-brand retail for foreign investment is likely to go to the Cabinet soon after assembly election results of four states and a Union Territory, taking on board job-related concerns of the Labour Ministry, sources said. The Cabinet note, circulated by the Department of Industrial Policy and Promotion (DIPP) has a [...]

CBI to Probe A Raja’s Green Approval to Unitech&DB Realty Projects

Posted: 01 May 2011 09:24 PM PDT

Realty firms DB Realty and Unitech's troubles are likely to get worse. The CBI is now likely to probe the two companies real estate projects that were cleared by former telecom minister A Raja during his tenure as environment minister from 2004 to 2007. CBI sources said Unitech and DB Realty (whose telecom arm Swan [...]

SBI Drops Prepayment Charges on Home Loans: Other Banks May Follow Soon

Posted: 01 May 2011 09:22 PM PDT

Banking leader State Bank of India dropped 'prepayment charges’ on all its loans over the past fortnight. The announcement coincided with the hiking of the bank’s base rate and withdrawal of the controversial teaser home loan schemes. With the SBI taking the lead, other banks are now expected to follow suit and withdraw the controversial [...]

Hircon International to Commence Handover of World’s Tallest Residential Tower ‘23 Marina Dubai’

Posted: 01 May 2011 08:23 PM PDT

Come August, Hircon International, a Dubai-based developer, will commence handover of 23 Marina, a 395-metre tower in Dubai Marina, which will then surpass The Torch as the world's tallest residential tower by almost 47 metres. "We have got the utility connections… we will have temporary power connection by next week. Snagging notice has been send [...]
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