Latest Realty News

To unlock FDI, govt to ease lock-in period for realty
Oct 16, 2013
DELHI: Much to the cheer of foreign real estate developers, those investing in India’s construction sector might be allowed to exit before the mandatory three years stipulated at present. However, for that, they would have to complete the project and procure completion occupancy certificates from local authorities.
Embassy to Raise Rs 800 crore in debt
Oct 16, 2013
BANGALORE: Bangalore-based real estate developer Embassy Property Developments is in talks to raise Rs 800 crore in debt to fund its planned acquisition of an IT park in the city, a person with direct knowledge of the development said. "The builder is in talks with banks and financial services companies including HDFC LtdBSE -2.37 % and Indiabulls to raise the debt," this person said. "Earlier, Embassy and Blackstone were jointly expected to buy the 2.1-million sq ft Vrindavan Tech Park, but now
‘Thread’ connects twin cities realtors
Oct 16, 2013
AHMEDABAD: Realtors are a divided lot in Ahmedabad. Distancing themselves from Gujarat Institute of Housing and Estate Developers (GIHED), apex body of realtors, a group of real estate developers in north Ahmedabad have formed a new association to focus exclusively on the area connecting Ahmedabad and Gandhinagar.
Satellite picks up pace
Oct 13, 2013
KOLKATA: Rajarhat is a satellite city of Kolkata, which was planned in the 1990s. According to the master plan, it was supposed to be at least three times larger than Salt Lake City, a neighbouring well-established destination. Between 2003 and 2008, Rajarhat witnessed a lot of interest from various national and regional developers. Then the global financial crisis came, after which most of the plans either got stalled or pace of execution reduced considerably.
Art for the home and hearth
Oct 12, 2013
CHENNAI: Janaki Hrishikesh, a Chennai resident, still remembers the first painting she brought. “It was a scene of Krishna’s rasaleela. We had just bought a house and were looking to decorate it. The painting practically drew us to it,” she says.
IT upswing to pay dividends for Bangalore realtors
Oct 11, 2013
BANGALORE: Bangalore-based real estate developers Sobha DevelopersBSE 0.39 % and Prestige Estate have gained investor interest after reporting strong sales for the September quarter, beating the gloom in the realty sector.
As real estate developers struggle to deliver, home buyers step up protests
Oct 03, 2013
NEW DELHI/CHENNAI: Annoyed with the delays in handing over properties and deficiencies in services, home buyers are protesting against real estate developers either through marches or through the social media.
Revised housing scheme fails to cheer builders
Sep 28, 2013
BHUBANESWAR: The revised urban housing scheme in state, notified on Thursday, has evoked sharp reactions from real estate developers. They said the mandatory provisions in the scheme are impractical and won't help create affordable housing stock.
Kolte-Patil Developers launches four projects in Pune
Sep 26, 2013
MUMBAI: Riding high on the demand for residential housing, Kolte-PatilBSE -1.09 % Developers today launched four mixed-use projects in Pune with investments up to Rs 450 crore.
‘Finance cost of developers may go up’
Sep 21, 2013
HYDERABAD: With the proposed Real Estate Regulatory Bill, where developers are expected to keep considerable portion of sales in escrow account for a majority of the construction period, finance cost for developers is expected to increase, according to Anuj Puri, Chairman and Country Head, Jones Lang LaSalle India.
‘Satellite townships will help de-congest urban areas’
Sep 21, 2013
HYDERABAD: With the urban population going up each passing year, there is a need to focus on de-centralised growth of cities by setting up satellite townships, according to experts.
Bangalore: Credai property show
Sep 21, 2013
BANGALORE: Confederation of Real Estate Developers’ Associations of India (Credai) Bangalore to hold its two-day realty expo 2013 on September 21 and 22 at Kalyani Kala Mandir (opposite IIM Bangalore) on Bannerghatta Road. According to S Suresh Hari, Secretary, Credai-Bangalore, this the third in the series of property show being held in the city.
How realtors lost the plot
Sep 19, 2013
MUMBAI: Their sales have slowed down and they have a mountain of debt to repay. And that is forcing real estate developers to sell non-core assets and look for other ways to raise money.
Home prices could drop
Sep 19, 2013
MUMBAI: Real estate developers are realising that they cannot hold on to inventory forever. Until now, they had shied away from lowering prices, but now, they will have to book sales to gain some liquidity.
Rising defaults by short-term realty investors add to developers’ woes
Sep 18, 2013
DELHI: Short-term real estate investors, a source of quick funds for housing projects, are increasingly defaulting on payment to developers, as economic slowdown and rising cost of living keeps regular homebuyers on the fringes, narrowing exit routes for speculators.
State to witness 6000 affordable houses soon
Sep 17, 2013
BHUBANESWAR: To meet the ever increasing demand of affordable houses, Credai­ Orissa, a body of real estate developers, is considering con­struction 0f 5,000-6,000 houses for lower and middle income groups in the next 2-3 years.
Realtors seek change in stamp duty clauses
Sep 10, 2013
BHUBANESWAR: Real estate developers have sought the abolition of stamp duty, while entering into agreements with land owners to execute various projects.
Mumbai developer launches project in Varanasi
Sep 09, 2013
MUMBAI: One of the oldest real estate developers in Mumbai, S Raheja Realty has moved into Varanasi to develop 140 apartments totalling over two lakh sq ft.
CREDAI chief pins hopes on new RBI Governor
Sep 07, 2013
MUMBAI:Welcoming the new RBI governor Mr. Raghuram Rajan, developers’ apex body CREDAI Chairman and CMD Kumar Urban Development Ltd Lalit Kumar Jain appealed to him to adopt a consultative process with all stakeholders before making any major policy decisions relating to real estate
Big extension to houses will need new power line in Chennai
Sep 07, 2013
CHENNAI: All low tension power consumers wanting to extend their houses by more than 2,000 sqft will now have to get new power connections for construction activity. Tamil Nadu Electricity Regulatory Commission (TNERC) on September 3 ordered that house owners should not use their existing connections for construction purposes.
Mumbai property rates may remain subdued in near future: Icra
Sep 06, 2013
MUMBAI: Real estate developers in Mumbai are finding it difficult to increase property prices because of rising inventory levels, subdued demand and uncertain macroeconomic environment, says credit rating agency Icra.
Hyderabad's realty sector set for recovery
Sep 06, 2013
HYDERABAD: The spiraling rate of the dollar coupled with modest pricing is likely to attract NRI investment to the city's real estate sector in the near future, said representatives from the industry on Thursday.
RBI should have consulted stakeholders before disbanding 80:20: CREDAI
Sep 05, 2013
DELHI: “Reserve Bank of India issuing circular on disbanding current practices, should consult stakeholders before issuing such circulars,” says Lalit kumar Jain, Chairman, CREDAI.
Credai against linking of home loans to construction stages
Sep 04, 2013
MUMBAI: Criticising the Reserve Bank's decision to link disbursal of home loans to stages of construction, real estate apex body Credai said the move will harm developer sentiment and disturb business plans.
Slowdown in real estate forces builders to cut prices
Sep 03, 2013
DELHI: There are no takers for close to 6 lakh homes in the country, forcing builders to cut prices and dole out freebies, which many hope will herald the much-awaited correction in the home market ahead of the festival season.

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