Property News from IndianRealtyNews

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DLF Plans to Sell 27.4 Acre Gurgaon Plot for Rs 400 cr: Tata & M3M in Race to Buy

Posted: 02 Aug 2011 08:06 PM PDT

India’s biggest real estate firm DLF is selling a 27.4-acre plot of land in Gurgaon for around Rs 400 crore. The plot has all approvals and permissions for building a group housing project in place, including an approval for a built-up space of 2 million sq ft, sources, who did not want to be identified, [...]

Maharashtra CM Admits Violation of FSI Norms in Navi Mumbai

Posted: 02 Aug 2011 07:53 PM PDT

Chief minister Prithviraj Chavan admitted in the state assembly on Tuesday that 21 of the 23 Palm Beach Road high-rises under probe have violated construction norms, putting the heat on Navi Mumbai builders. A three-bedroom apartment on Palm Beach Road, often called the ‘Queen’s Necklace of Navi Mumbai’ , can cost upwards of Rs 1 [...]

12.8% Fall in DLF’s Net Profit for Q1

Posted: 02 Aug 2011 07:44 PM PDT

DLF, the country’s largest real estate company, on Tuesday reported a 12.8% decline in its consolidated net profit for the first quarter ended June 30 at Rs 358.36 crore on higher expenditure and finance charges. The company had posted a net profit of Rs 411.03 crore in the corresponding period last year, DLF said in [...]

Mumbai Home Sales Drop to 30 Month Low

Posted: 02 Aug 2011 06:18 PM PDT

Mumbai's residential sales dropped to a 30-month low in the quarter ended June as record home prices and higher interest rates crimped demand, according to Liases Foras Real Estate Rating & Research Pvt. Sales in Mumbai, India's most expensive property market, fell 11 percent from the previous quarter to 8 million square feet, the lowest [...]

Indiabulls Expecting 30-35% Rise in Lease Income

Posted: 02 Aug 2011 06:14 PM PDT

Plagued by high cost of land, debt issues and slowdown in sales, the real estate pack has been seeing sluggish growth over the quarter. "The lower and mid-segment sales have been reasonable, and that compensated for the slow-moving premium market in Mumbai," says Gagan Banga, chief executive officer, Indiabulls Group . The group’s realty subsidiary, [...]
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Property News from IndianRealtyNews

Property News from IndianRealtyNews

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

Hotel Leelaventure Promoters Increase Stake by 1% in the Company

Posted: 01 Aug 2011 07:48 PM PDT

Hotel Leelaventure promoters have hiked stake in the company by over 1 per cent in the first few months of the fiscal as they look to increase holding to 60 per cent, even as their plan to dilute nearly 15 per cent of their equity has been delayed. The promoters have increased their holding to [...]

FDI Funded Developer Alpha G:Corp Announces Launch of Alpha International City, Amritsar

Posted: 01 Aug 2011 07:39 PM PDT

The foreign direct investment (FDI) funded real estate developer Alpha G:Corp on Friday announced launching of Alpha International City, Amritsar (AICA) the new integrated housing project at Amritsar. Spread over 500 acres, the project that envisages investment of Rs 600-700 crore, would be developed in phases. The company envisages sales realisation of Rs 1,000 crore [...]

Emaar MGF Refutes Charges by APIIC

Posted: 01 Aug 2011 06:43 PM PDT

Emaar MGF, one of the respondents in the integrated township-cum golf course project case, has refuted all the charges levelled against itself and the parent company Emaar Properties. A writ petition against Emaar is currently being heard by the Andhra Pradesh High Court and the allegations are being investigated by the Central Bureau of Investigation [...]
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Property News from IndianRealtyNews

Property News from IndianRealtyNews

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

Realty Major Unitech Working on Quality Execution of Projects

Posted: 31 Jul 2011 07:10 PM PDT

Realty major Unitech Ltd is currently developing about 80 projects across the country covering 40 million sq ft of area and focusing on improving its execution capabilities, a top company official has said. “Going forward, the quality of execution will determine whether Unitech will move to the next level or not. And, this is where [...]

Govt Scraps Free FSI in Mumbai

Posted: 31 Jul 2011 06:20 PM PDT

In what is considered a blow to real estate developers, the Maharashtra Government in a notification said that spaces such as flower beds, lily ponds, parking decks and terraces would qualify for a levy of 100 per cent of the ready reckoner rate (guideline value) as premium. Earlier, these spaces were exempt from the floor [...]

Developers & Buyers Relieved as Farmers and Noida Authority Agree on Settlement

Posted: 31 Jul 2011 06:07 PM PDT

Sunday's settlement with farmers in Noida by the Noida Authority should help revive consumer confidence and sales of homes, that had taken a knock after the protests in Greater Noida spilled over there. The farmers have agreed to call off their agitation. "This will immediately restore consumer confidence in Noida," Shakti Nath, CMD, Logix Group, [...]
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