Property News from IndianRealtyNews

Property News from IndianRealtyNews

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FDI Falls by 28%: Hits 4 Years Low & Trails Portfolio Inflows

Posted: 12 May 2011 09:45 PM PDT

Foreign direct investments (FDI) last fiscal fell 28% to a four-year low, data showed on Thursday, raising concerns over stability of capital flows. This is also the first time in five years that FDI is lower than portfolio flows. A slowdown in FDI means the economy is not getting enough long-term foreign funds to invest [...]

Supreme Court Criticises Sahara Real Estate’s Modus Operandi; Allows SEBI to Probe Sahara Group’s Fund Raising Instruments

Posted: 12 May 2011 08:42 PM PDT

Apex court criticizes the way Sahara operates, compares it with the modus operandi of the late Harshad Mehta. The Securities and Exchange Board of India (Sebi) can examine financial instruments used by two companies of the Sahara Group to raise money from the public after India's top court dismissed its petitions on Thursday. Sahara India [...]

Smaller Cities May Soon witness Affordable Housing Boom

Posted: 12 May 2011 08:38 PM PDT

The population in India’s big cities is exploding and in the next five years, the housing boom will reach the smaller urban centres to target new segments of customers, says realty finance expert and author Sitaraman. “The real estate sector will go to the tier 4, 5, 6, 7 cities - the small towns - [...]

Gujarat Professionals Prefer Real Estate for Investment; ASSOCHAM Survey

Posted: 12 May 2011 07:47 PM PDT

Unlike young professionals in other states who prefer a blend of investment portfolios, their counterparts in Gujarat prefer to park their hard earned funds in the real estate sector, stated a survey by the Associated Chamber of Commerce and Industry of India (ASSOCHAM). The random survey conducted by ASSOCHAM under the aegis of ASSOCHAM Social [...]

West Delhi all Set to Give Stiff Competition to South Delhi

Posted: 12 May 2011 06:51 PM PDT

From a dreary corner to a happening hub, west Delhi is all set to emerge as a hotspot on the Capital's shopping and cultural map. With several new recreational and tourism projects coming up almost simultaneously, it is ready to give a stiff competition to south Delhi. While new shopping malls sell ing prominent brands [...]
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Property News from IndianRealtyNews

Property News from IndianRealtyNews

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

Real Estate Developer Puravankara Forays into Coimbatore, Announces Rs 650cr Residential Project

Posted: 11 May 2011 07:57 PM PDT

Puravankara Projects, one of the leading real estate companies in the country, has forayed into Coimbatore with a Rs 650 crore project, offering luxurious two and three bed room apartments. Located on Trichy Road, in Singanallur, one of the most upcoming residential areas of Coimbatore, Purva Bluemont will be built on a 16.86 acres land. The [...]

Sahara Real Estate in trouble Over Use of Third Party Account

Posted: 11 May 2011 07:36 PM PDT

A Sahara group company, which has raised Rs 4,843 crore by issuing optionally fully convertible debentures (OFCDs), is not using its own bank account to handle this money. In March, the Registrar of Companies (RoC), Uttar Pradesh and Uttarakhand, based in Kanpur, sent a notice to Sahara India Real Estate Corp for using a third party's [...]

Equinox Realty Announces Plan to Invest Rs 4000cr in Residential Projects

Posted: 11 May 2011 06:51 PM PDT

Equinox Realty, the property development arm of Essar group, has announced plans to invest around Rs 4,000 crore to develop residential units across the country. The company will launch 1.4 million square feet residential project in Bangalore in the last quarter of calendar year 2011 and a one-million housing project in Thane near Mumbai in [...]
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Property News from IndianRealtyNews

Property News from IndianRealtyNews

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

SBI Hikes Lending Rate by 75bps

Posted: 10 May 2011 09:05 PM PDT

Country’s largest lender SBI has announced a hike in lending rates by 75 basis points (bps), making housing, auto and other loans dearer for both new and existing borrowers. State-owned SBI has increased the base rate, or the minimum lending rate, by 75 bps (0.75 per cent) to 9.25 per cent. The new rate is effective [...]

Wave to Launch Integrated Township Project in Ghaziabad

Posted: 10 May 2011 08:26 PM PDT

Wave Inc, the erstwhile Chadha Group, has announced the launch of its mega self sustainable integrated township christened Wave City in Ghaziabad. Spread across 4,500 acres, this township is situated on NH 24, Ghaziabad, one of the most happening real estate destinations in Delhi-NCR. "We are happy to announce a township that will potentially [...]

Vishal Retail Changes Name to V2 Retail Ltd; Plans Entry into Real Estate Sector

Posted: 10 May 2011 08:16 PM PDT

Vishal Retail Ltd today said it plans to change its name to ‘ V2 Retail Ltd’ and also enter into real estate business for which it is seeking shareholders approval. “The Board of Directors of the company in their meeting held on April 9, 2011 decided to change the name from Vishal Retail Ltd [...]

34% Rise in Shobha Developers Yearly Net Profit

Posted: 10 May 2011 07:56 PM PDT

Real estate company Sobha Developers has reported its yearly net profit rose by 34 per cent to Rs 182.5 crore. Revenues were up 31 per cent year-on-year in 2010-11 at Rs 1,464.6 crore, the Bangalore-headquartered company said. In 2010-11, the company sold 2.78 million sq ft, a 33 per cent yoy growth. The board has [...]

Property Registration Cost May Go up in Chandigarh

Posted: 10 May 2011 07:34 PM PDT

Cost of property registration is set to go up in Chandigarh. The UT estate office has begun finalizing a plan to hike collector’s rate. A 20 per cent rise in the rate is being contemplated. With the collector’s rate a benchmark for sale and purchase of property, the hike would boost property rates, besides resulting [...]
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